The Nepal Stock Exchange (NEPSE) experienced a notable upswing, with its index surging by 20.62 points or 1%, closing the third trading day of the week at 2080.12 on…
The Nepal Stock Exchange (NEPSE) experienced a notable upswing, with its index surging by 20.62 points or 1%, closing the third trading day of the week at 2080.12 on…
January 9: Police have arrested the manager and staff of Gokarna-based Kantibhairav Savings and Credit Cooperative Pvt Ltd for embezzling savings of the…
January 9: The trend of announcing a massive budget without looking at the capacity of the state has made the country’s economic system unstable.…
January 9: The Nepal Electricity Authority (NEA) has announced a five-year installment facility for the payment of electricity tariff dues related to dedicated feeder and trunk line…
January 9: The Confederation of Nepalese Industries (CNI) has submitted a detailed report along with recommendations for the reforms in the legal framework for the country's economic…
January 9: A total of 52 candidates have filed their nomination papers for the 19 National Assembly seats that will fall vacant after the expiry of the terms of the upper house members on March…
January 9: The Ministry of Health and Population has confirmed the spread of new sub-variant JN.1 of COVID-19 in…
The Ministry of Agriculture and Livestock Development revealed that the country produced 5.72 million metric tons of paddy this year. Compared to the last financial year, the production of paddy increased by 4.33 percent in the current year, according to the…
The Nepal Stock Exchange (NEPSE) Index surged by 36.57 points or 1.80%, closing at 2059.49 during the second trading day of the week on…
January 8: The Election Commission (EC) has released the final list of voters for the upcoming National Assembly…
January 8: The government had announced massive spending cuts but has failed to take such…
January 8: Coronavirus infection has been detected among the Nepali nationals returning home from different cities of India.…
January 8: Nepal Insurance Authority has paved the way for life insurance companies, non-life insurance companies and reinsurance companies to invest outside the provisions included in the investment…
January 8: Users of electric vehicles are deprived of charging service in one of the major highways of the country as the charging station based at Muglin Bazaar of Ichhakamana rural municipality-5, Chitwan, remains dysfunctional for nearly two…
January 8: Nepal Advertising Association has elected a 14-member executive committee under the leadership of Sudip…
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The shares market witnessed a transaction of 17,949,562 units of shares, amounting to Rs 6.11 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sonapur Minerals and Oil Limited (SONA) took the lead in turnover, with transactions totaling Rs 21 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Remarkably, eight companies, including Karnali Development Bank (KRBL), Sindhu Bikash Bank (SINDU), and Himalayan Reinsurance Limited (HRL), experienced a 10% gain, hitting the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Dhaulagiri Laghubita Bittiya Sanstha (DLBS) faced the highest loss of 8.19%, closing at a market price of Rs 931 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices, except for Hydropower, Manufacturing, and Processing and Mutual Fund, closed in positive territory. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Bank Index saw a robust gain of 5.21%, while Nonlife Insurance experienced a modest 0.60% increase. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hydropower Index suffered the most significant loss at 0.45%, while Manufacturing and Processing incurred a minimal loss of 0.15%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19665', 'image' => '20240109033550_collage (16).jpg', 'article_date' => '2024-01-09 15:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19937', 'article_category_id' => '1', 'title' => 'Cooperative’s Manager, Staff Arrested for Embezzling Rs 1.21 Billion of Depositors ', 'sub_title' => '', 'summary' => 'January 9: Police have arrested the manager and staff of Gokarna-based Kantibhairav Savings and Credit Cooperative Pvt Ltd for embezzling savings of the depositors. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: Police have arrested the manager and staff of Gokarna-based Kantibhairav Savings and Credit Cooperative Pvt Ltd for embezzling savings of the depositors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Metropolitan Police Circle, Bouddha, arrested Chairperson of the Cooperative, Hari Krishna Shrestha of Gokarneshwor municipality-4, former Chairperson and patron, Prem Shrestha, Treasurer Sher Lal Shrestha and Manager Rajendra Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All of them have been kept at Gokarna Police Sector building under the Circle, said Senior Sub-Inspector at the Sector, Rajesh Karki. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Ram Das Shrestha, secretary of the cooperative’s Board of Directors, members Anirudra Shrestha and Radheshyam Shrestha as well as coordinator of the Account Committee, Chandra Prasad Poudel have been absconding. Police have issued arrest warrant in their names. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Proprietors of the cooperative have embezzled Rs 1.21 billion of 7,700 depositors, said chairperson of the taskforce under the Cooperative Victim Struggle Committee, Rajesh Kumar Bista. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">PM instructs Finance Ministry to bring concrete proposal on failing cooperatives </span></strong></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal has instructed the Ministry of Finance to come up with a concrete proposal for the systematic resolution of the problems faced by the depositors of cooperatives, as hundreds of thousands of them have suffered of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During an interaction at the Office of the Prime Minister and Council of Ministers on Monday, the Prime Minister directed to submit an appropriate proposal to take concrete measures to troubleshoot the challenges that cooperatives are facing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Hundreds of thousands of depositors have suffered since the problems of the cooperatives have not been addressed. They are left stranded," the PM said asking the Finance Ministry to come up with a concrete proposal. </span></span></span><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19664', 'image' => '20240109020909_cooperative problematic.jpg', 'article_date' => '2024-01-09 14:08:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19936', 'article_category_id' => '1', 'title' => 'Prime Minister Shows Keen Interest in Budget Ceiling', 'sub_title' => '', 'summary' => 'January 9: The trend of announcing a massive budget without looking at the capacity of the state has made the country’s economic system unstable. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 9: The trend of announcing a massive budget without looking at the capacity of the state has made the country’s economic system unstable. This raises serious questions about the ability of the ruling government and administration to prepare the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has not been able to implement the budget effectively due to the practice of forming a government by forging alliances with various parties and announcing a large budget to fulfill the interests of those parties.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The incumbent government is also formed through a coalition of different parties. Taking the minimum common program issued by the government into consideration, Finance Minister Dr Prakash Sharan Mahat announced the budget for the current fiscal year (FY) on May 29. But the government has failed to implement big programmes included in the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For the current year, the government had announced a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, but has been able to spend only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">355</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent) so far. This clearly shows that the budget expenditure is very poor in the first six months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the budget has provisions to scrap unnecessary bodies and to create employment opportunities, they have not been implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The current expenditure has increase significantly due to the delay in scrapping the government bodies that were supposed to be scrapped as per the budget announcement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the unemployment problem in the country is getting worse due to the non-implementation of employment programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, projects worth billions of rupees are being run at a snail’s pace, while the contractors have not yet received huge amount of payment that has remained due since last year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had announced a capital budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, but has spent only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion so far. From this, it is clear that the pace of development is very slow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While questions are being raised about the preparation of the budget, Prime Minister Pushpa Kamal Dahal has directed the government officials including the finance minister to make the upcoming budget realistic. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">PM Dahal held discussion about the upcoming budget with Finance Minister Dr Mahat, Vice President of the National Planning Commission Dr Min Bahadur Shrestha, Chief Secretary Baikuntha Aryal and other stakeholders.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has pointed out the need for a separate discussion on the process of setting the budget ceiling, saying that a comprehensive discussion between the ministries is necessary when setting the ceiling of the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has also instructed not to set a budget ceiling haphazardly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"When setting the ceiling, let's not set it based on speculations. Let's also call the ministries and discuss. Let's listen to them," he said. "This is also a democratic process. We also need a clear plan about which level of planning to keep at the center and which in provinces and local levels.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has also instructed the Ministry of Finance and the National Planning Commission to prepare policies, programmes and budget so as not to add unnecessary plans, give high priority to old plans that have been pending and focus on a specific strategic plan every year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19663', 'image' => '20240109015651_1683767264.jpg', 'article_date' => '2024-01-09 13:56:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19934', 'article_category_id' => '1', 'title' => 'NEA comes up with Five-Year Installment Facility for Payment of Dedicated and Trunk Line Dues ', 'sub_title' => '', 'summary' => 'January 9: The Nepal Electricity Authority (NEA) has announced a five-year installment facility for the payment of electricity tariff dues related to dedicated feeder and trunk line services. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Nepal Electricity Authority (NEA) has announced a five-year installment facility for the payment of electricity tariff dues related to dedicated feeder and trunk line services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a public notice on Tuesday, the NEA has urged all concerned entities to submit applications for installment facilities at the respective NEA distribution centers within the next 30 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following a decision made during the January 1 meeting of the NEA Board of Directors, industries are now eligible for installment facility to settle their dues associated with the dedicated feeder and trunk line services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA has taken this step in response to the accumulated electricity dues from 61 industries, amounting to Rs 22.24 billion. Consequently, power supply to 25 industries has been disconnected due to the non-payment of the dues. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19661', 'image' => '20240109010201_NEA update.jpg', 'article_date' => '2024-01-09 13:01:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19933', 'article_category_id' => '1', 'title' => 'CNI urges Govt for Legal Reforms to Excel Economy ', 'sub_title' => '', 'summary' => 'January 9: The Confederation of Nepalese Industries (CNI) has submitted a detailed report along with recommendations for the reforms in the legal framework for the country's economic development. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Confederation of Nepalese Industries (CNI) has submitted a detailed report along with recommendations for the reforms in the legal framework for the country's economic development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI said that its President Rajesh Kumar Agrawal submitted the report to Prime Minister Pushpa Kamal Dahal on Monday. The report was also shared with Speaker Devraj Ghimire and Chief Secretary of the government, Dr Baikuntha Aryal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI has recommended amendment to 28 acts and regulations, scrapping of five acts and unveiling three new acts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI has stated that it is essential to reform the laws for making economy vibrant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Agrawal, the report was prepared following intensive research and consultations with legal experts, industrialists, stakeholders, thematic experts and other stakeholders. Comparative study was also conducted by taking references from different countries, CNI stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Agrawal shared that the recommendations are related to Industrial Enterprises Act, 2076; Industrial Enterprise Regulations, 2078; Income Tax Act, 2058; Companies Act, 2063; Forest Act, 2076; Foreign Investment and Technology Transfer Act, 2075 and others. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19660', 'image' => '20240109121554_CNI logo.jpg', 'article_date' => '2024-01-09 12:14:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19932', 'article_category_id' => '1', 'title' => '52 Candidates in the Fray for 19 NA Seats ', 'sub_title' => '', 'summary' => 'January 9: A total of 52 candidates have filed their nomination papers for the 19 National Assembly seats that will fall vacant after the expiry of the terms of the upper house members on March 4. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: A total of 52 candidates have filed their nomination papers for the 19 National Assembly seats that will fall vacant after the expiry of the terms of the upper house members on March 4. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The National Assembly election is scheduled to be held on January 25, thirty-five days before the expiry of the terms of the lawmakers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The nominations were filed on Monday for various categories in the respective election offices of the seven provinces. The 52 candidates who filed their nominations in the seven provinces include 17 for under women's category, six under Dalit category, eight under persons with disabilities or minority communities, and 21 under other groups, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Election Commission, Shaligram Sharma Paudyal, shared that the nomination papers of the candidates were registered at the Office of the Election Officer established in all the seven provinces from 10 am to 3 pm on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Five candidates each have registered their nominations in Koshi and Madhes province, 15 in Bagmati, eight in Gandaki, seven in Lumbini province, and six each in Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the election calendar announced by the EC, complaints against the candidates can be registered on January 9, the nomination papers and complaints received will be reviewed and the list of candidates will be published on January 10 and 11, candidates will able to withdraw their names on January 12 and the final list will be published, and election symbols distributed to the candidates on January 13. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19659', 'image' => '20240109115624_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2024-01-09 11:55:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19930', 'article_category_id' => '1', 'title' => 'New Sub-Variant of COVID-19 Detected in Nepal ', 'sub_title' => '', 'summary' => 'January 9: The Ministry of Health and Population has confirmed the spread of new sub-variant JN.1 of COVID-19 in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Ministry of Health and Population has confirmed the spread of new sub-variant JN.1 of COVID-19 in Nepal. The new sub-variant of COVID-19 is spreading in some countries in the recent weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the ministry has asked one and all to exercise precautionary measures after the detection of the sub-variant JN.1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry's Spokesperson Dr Prakash Budhathoki told the RSS that seven samples out of 16 collected from different parts of the country from different age groups confirmed the presence of the sub-variant JN.1 of Omicron. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has urged the public to avoid crowds and gathering, maintain physical distance, continue using mask and regularly wash hands with soap and water. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19657', 'image' => '20240109110614_coronaaaaa.jpg', 'article_date' => '2024-01-09 11:05:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19929', 'article_category_id' => '1', 'title' => '5.72 Million Metric Tons of Paddy Harvested', 'sub_title' => '', 'summary' => 'The Ministry of Agriculture and Livestock Development revealed that the country produced 5.72 million metric tons of paddy this year. Compared to the last financial year, the production of paddy increased by 4.33 percent in the current year, according to the ministry.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 9: The Ministry of Agriculture and Livestock Development revealed that the country produced 5.72 million metric tons of paddy this year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Compared to the last financial year, the production of paddy increased by 4.33 percent in the current year, according to the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, paddy production this year increased by 5.08 percent compared to the average production of the last four years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, the area of paddy cultivation has decreased even though total output increased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the ministry, the total area with paddy plantation decreased by 0.61 i.e. 8,800 hectares compared to last year to come down to 1.43 million hectares. This is less by 1.73 per cent compared to the average area of the last four years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Hence, the productivity has increased. "The average productivity of paddy has increased by 4.97 per cent compared to last year and reached 3.98 metric tons per hectare", adds the statement issued by the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The productivity this year is 6.92 per cent higher than the average productivity of the last four years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of productivity, Koshi province leads with 4.43 metric tons per hectare while it is the lowest in Madhes province with 3.49 metric tons per hectare. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Several factors have contributed to surge of paddy production, including the adoption of developed seeds, a decrease in the impact of diseases and pests, improved fertilizer availability, enhanced use of agricultural tools and technology, and effective seasonal adaptation strategies.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Ministry gathered the paddy crop statistics using satellite images in collaboration with the Ministries of Agriculture across all seven provinces and the International Centre for Integrated Mountain Development (ICIMOD). (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19656', 'image' => '20240109055844_collage (6).jpg', 'article_date' => '2024-01-09 05:56:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19928', 'article_category_id' => '1', 'title' => 'NEPSE Posts Gain of 36.57 Points to Close at 2059.49', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index surged by 36.57 points or 1.80%, closing at 2059.49 during the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 8: The Nepal Stock Exchange (NEPSE) Index surged by 36.57 points or 1.80%, closing at 2059.49 during the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Analysts and investors are optimistic, suggesting that the market may have completed its correction phase and is poised for an upward trend, fueled by excess liquidity in the banking system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, a total of 309 scrips were exchanged through 99,524 transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market turnover amounted to Rs 4.67 billion, involving 13,709,276 units of shares. Remarkably, Sonapur Minerals and Oil Limited (SONA) led the turnover with Rs 21 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Singati Hydro Energy Limited (SHEL), Modi Energy Limited (MEL), Trishuli Jal Vidhyut Company Limited (TVCL), and Muktinath Krishi Company Limited (MKCL) each experienced a 10% increase, hitting the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector performance, all sectors, except for Mutual Funds, showed positive trends.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Life Insurance led the gains with an impressive 3.72%, while Manufacturing and Processing posted a modest increase of 0.56%. Mutual Funds experienced a marginal loss of 0.01% during the trading session.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19655', 'image' => '20240108032733_collage (15).jpg', 'article_date' => '2024-01-08 15:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19926', 'article_category_id' => '1', 'title' => 'Election Commission Publishes Final List of Voters for National Assembly Election', 'sub_title' => ' The List includes 549 Voters from Province Assemblies, 1,498 from Local Levels ', 'summary' => 'January 8: The Election Commission (EC) has released the final list of voters for the upcoming National Assembly election.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: The Election Commission (EC) has released the final list of voters for the upcoming National Assembly election. Issuing a press statement on Sunday, the EC informed that final list of voters have been published at the offices of election officers in all seven provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the EC update, there are a total of 549 voters from all seven province assemblies while 1,498 voters from local levels. However, the total vote weightage (one vote equals to 53 votes) from provinces is 29,097 while that from local level (one vote equals to 53 votes) is 28,462. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Categorically, Koshi Province members contribute 93 votes while 377 voters include chair, vice chairs, mayors and deputy mayors from rural municipalities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, there are a total of 374 voters from Madhes Province including 107 province assembly members and 267 mayors and deputy mayors of metropolis, sub-metropolis and municipalities, and chiefs and deputy chiefs of rural municipalities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Madhes Province, the total weightage of vote from the province assembly members is 5,571 and that of the chairpersons and vice-chairpersons of rural municipalities and mayors and deputy mayors is 5,073. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Bagmati Province, the number of voters is 347 including 110 province assembly members and the vote weightage in Bagmati Province is 10,333. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Election Commission stated that the number of voters is 230 in Gandaki Province and the total weightage of votes is 6,410. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, in Lumbini Province, there are a total of 305 voters including 87 voters from province assembly and 218 voters from rural municipality including chairpersons and vice-chairpersons. In the province, the vote weightage is 8,753 including 4,611 of province assembly members and 4,142 of rural municipality chairpersons and vice-chairpersons, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Karnali Province, the number of province assembly members is 40 while there are 156 rural municipality chairpersons and vice-chairpersons. The total weightage of vote in the province is 5,084 including 2,120 of province assembly and 2,120 of rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there are 228 voters in Sudurpaschim Province, including 52 province assembly members and 173 rural municipality chairpersons and vice-chairpersons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among them, the total weightage of vote in the province is 6,100 including 2,756 of province assembly members and 3,344 of rural municipality chairpersons and vice-chairpersons, the EC added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19654', 'image' => '20240108022303_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2024-01-08 14:21:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19925', 'article_category_id' => '1', 'title' => 'Government Fails to Cut Expenditure in Six Months of Current FY', 'sub_title' => '', 'summary' => 'January 8: The government had announced massive spending cuts but has failed to take such measures.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: The government had announced massive spending cuts but has failed to take such measures.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is almost six months since the implementation of budget started in the current fiscal year but the government has not been able to effectively implement the expenditure reduction measures announced in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Prakash Sharan Mahat had said that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> government institutions will be scrapped and similar institutions will be merged with each other in a bid to cut expenses. Those bodies are still running in the same structure as before. Their employees are getting their salaries and allowances as usual.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Until now, the government has been releasing budget for the current expenses to the agencies that were said to be scrapped. It seems that the announcement regarding the reduction of expenditure made in the budget will not be implemented effectively, just like the announcement of scrapping government boards and establishments in the previous budget which has not been implemented yet. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget on May 29, Finance Minister Mahat had said that all types of incentives, allowances, and over-time allowances will be cancelled. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At that time, experts had pointed out the risk of non-cooperation from the bureaucracy in the implementation of the budget announced by the government due to lack of incentives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the prime minister and ministers have repeatedly issued directives to the government employees, there has not been satisfactory improvement in the spending of capital budget. As of Saturday, only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">43.35</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion have been spent under the heading of capital expenditure. The government has allocated Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for this year's capital expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is also mentioned in the budget statement that the old and unused vehicles and goods in the government agencies will be auctioned within six months. Even though the six-month period is about to end, such vehicles and goods have not been auctioned. This shows that most of the big programs brought by the government to cut expenditure have not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">High-ranking officials of the Ministry of Finance say that the government has not been able to implement the announcements made in the budget because of the lobbying from the government employees who fear that the facilities that they are enjoying will be curtailed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is lobbying from the high-level political leadership not to take away the facilities that the government officials have been enjoying so far, that's why the expenditure reduction plans announced in the budget could not be implemented effectively," said the official. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the fact that the government has not effectively cut down the expenditure, it has already spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion have been spent so far under current headings. This amount is spent in administrative expenses including salaries and allowances of employees.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has recently scrapped </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> posts in the Office of the Prime Minister and Council of Ministers just to show that it has cut expenses, but that decision has not yet been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> employees in the Prime Minister's Office alone, including the chief secretary. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the current government's decision to reduce the posts is positive, experts believe that it is necessary to abolish other unnecessary posts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Communications and Information Technology Minister and Government Spokesperson Rekha Sharma said that homework is being done to transfer officials in the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">canceled posts to other ministries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, last week, the Council of Ministers also decided to cut lunch expenses during cabinet meetings. It seems that the prime minister's attention is focused on small publicity work rather than implementing the announcement of major spending cuts. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19653', 'image' => '20240108021736_1683767264.jpg', 'article_date' => '2024-01-08 14:16:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19927', 'article_category_id' => '1', 'title' => 'COVID-19 Detected among India-Returnees ', 'sub_title' => '', 'summary' => 'January 8: Coronavirus infection has been detected among the Nepali nationals returning home from different cities of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: Coronavirus infection has been detected among the Nepali nationals returning home from different cities of India. Coronavirus test has been made mandatory at Nepal-India border areas after the new variant of coronavirus (JN.1) was detected in India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Health Desk set up at Gauriphanta checkpoint, Ganesh Saud, told RSS that coronavirus infection was so far detected in 10 people who returned from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have been conducting antigen test among India-returnees and 10 cases of coronavirus were recorded so far," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Saud shared that those found infected with coronavirus have been suggested to stay in home isolation. Hundreds of Nepalis are returning home every day via Gauriphanta checkpoint from different places of India. Samples were collected and sent to Kathmandu to confirm the variant of corona two week ago, but its report has not been received yet, added the Health Desk Chief. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, coronavirus has not been confirmed on Nepalis returning home using Gaddachauki checkpoint of Kanchanpur so far, according to the District Health Office, Kanchanpur. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19652', 'image' => '20240108022815_coronaaaaa.jpg', 'article_date' => '2024-01-08 14:27:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19924', 'article_category_id' => '1', 'title' => 'NIA Increases Scope of Investment of Insurance Companies', 'sub_title' => '', 'summary' => 'January 8: Nepal Insurance Authority has paved the way for life insurance companies, non-life insurance companies and reinsurance companies to invest outside the provisions included in the investment guidelines.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: Nepal Insurance Authority has paved the way for life insurance companies, non-life insurance companies and reinsurance companies to invest outside the provisions included in the investment guidelines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By revising the investment guidelines, the regulatory body has made arrangements for insurance companies to invest beyond what is mentioned in the investment guidelines by taking prior approval from the authority. The insurance companies are also allowed to invest more than the specified percentage.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the Investment Guidelines </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clearly mentions the areas and limits of investment, the revised guidelines of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> has a provision that allows insurance companies to invest in areas other than those mentioned in the guidelines and more than the specified percentage with the prior approval of the authority. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This has opened the way for the officials of the NIA to approve the investment as per the proposal of the insurance companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Experts point to the risk that the funds accumulated in the insurance company may be misused by the new arrangement. "It is good if the provision to increase the limit is used in cases where investment cannot be made as specified in the guidelines," insurance expert Dr Rabindra Ghimire said, adding, "If the investment sinks by giving arbitrary approval, the insurance company itself may be at risk." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the authority has designated the area of investment, he suggested that the insurance companies should have their own risk management strategy and should invest accordingly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, Rajuraman Paudel, the executive director of the NIA, says that the provision was put in place to approve investment in potential areas. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Investments made by insurance companies should be safe," he said, "To ensure that the investment is safe, the authority gives permission to invest in areas other than the specified areas and beyond the limits only after careful observation."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authority has opened the way for insurance companies to invest in private equity funds and venture capital funds through the amendment of the guidelines and has also increased the limit for investing in shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the guidelines, it is stipulated that prior approval of the authority is also required to invest in private equity and venture capital funds in infrastructure and productive sectors such as real estate business and water resources, agriculture, tourism, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the new guidelines, life insurance companies, non-life insurance companies and reinsurance companies will now be allowed to invest in private equity funds and venture capital funds approved to do business by the Securities Board of Nepal in accordance with the Specialized Investment Fund Regulations. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Companies can invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total investment in such funds. Similarly, arrangements has been made so that only up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent can be invested in one particular fund. The authority has not allowed micro insurance companies to invest in such funds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Securities Board of Nepal has been giving approval for the operation of private equity and venture capital funds according to the 'Specialized Investment Fund Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2075</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. So far, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies have received permission to operate such funds. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prior to this, Nepal Rastra Bank has also opened the way for banks and financial institutions to invest in private equity and venture capital funds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the NIA has increased the limit of the amount that small insurance companies can invest in shares of life insurance companies, non-life insurance companies and reinsurance companies. According to the revised guidelines, the micro insurance companies will now be allowed to invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total investment in shares of insurance companies. Previously, there was a provision that such companies could only invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, insurance companies are allowed to invest in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> areas specified by the guidelines. However, the investment of companies is focused on term deposits of banks and financial institutions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority's data, as of mid-October of the current fiscal year, life insurance companies have invested a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and non-life insurance companies have invested Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60 </span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion in various sectors, mostly term deposits of BFIs. Out of that, life insurance companies have invested </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">77 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of their accumulated funds and non-life insurance have invested</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> 79 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent in fixed deposits of banks and financial institutions. Among fixed deposits, the largest investment is in commercial banks. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the insurance companies complained that they were not able to diversify their investments, the then Insurance Board of Nepal amended the investment guidelines five years ago, opening the way for companies to invest in infrastructure and productive sectors such as real estate business and water resources, agriculture, tourism, in addition to fixed deposits and shares. However, even after five</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">years of changes in the guidelines, the investment of insurance companies in the new sectors is negligible.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19651', 'image' => '20240108013150_INSURANCE-COVERAGE.jpg', 'article_date' => '2024-01-08 13:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19921', 'article_category_id' => '1', 'title' => 'EV Woes: Service-Seekers Face Inconvenience due to Delay in Repair of Charging Station ', 'sub_title' => '', 'summary' => 'January 8: Users of electric vehicles are deprived of charging service in one of the major highways of the country as the charging station based at Muglin Bazaar of Ichhakamana rural municipality-5, Chitwan, remains dysfunctional for nearly two months. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: Users of electric vehicles are deprived of charging service in one of the major highways of the country as the charging station based at Muglin Bazaar of Ichhakamana rural municipality-5, Chitwan, remains dysfunctional for nearly two months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charging nozzle of the charging station has reportedly broken and two DC chargers are dysfunctional less than a year since the station was installed. Only one AC charger is functioning at present. It takes long time to charge vehicles using the AC charger. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhruba Gurung of Gorkha who came to charge his car complained that service-seekers have been facing problem as the charging station is yet to be repaired. He said that one has to wait for hours to charge vehicles using AC charger. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The vehicle used to be fully charged in one hour when the charging station was functioning. Now, one has to wait for 2-3 hours to fully charge the car," he expressed his dismay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He complained that although the government has emphasized on using electric vehicles, it has not paid attention to constructing additional charging stations and repairing the dysfunctional ones in time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, people have to wait in queue for many hours to charge their vehicles since there are not enough charging stations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shiva Adhikari, project manager of Digo, the company which is responsible for constructing the charging station, said that the problem is due to the broken charging nozzle and they have already ordered for the required spare parts that need to be changed. He added that the equipment would be arriving in a day or two. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Adhikari said that the repair works would be carried out in a day or two by dispatching a technical team. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Adhikari said 62 charging stations have been installed throughout the country in collaboration with the Nepal Electricity Authority (NEA). He stated that problems have been detected in 20 of them. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19648', 'image' => '20240108120436_20231015032757_NEA Launches 51 Rapid Charging Stations.jpg', 'article_date' => '2024-01-08 12:03:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19920', 'article_category_id' => '1', 'title' => 'Advertising Association of Nepal gets a New Executive Committee', 'sub_title' => '', 'summary' => 'January 8: Nepal Advertising Association has elected a 14-member executive committee under the leadership of Sudip Thapa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: Nepal Advertising Association has elected a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">member executive committee under the leadership of Sudip Thapa.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th annual general meeting of the association on Sunday elected the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th central working committee under the leadership of Thapa, in which other officer bearers except the treasurer were elected unopposed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The treasurer and members were decided through voting.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ujay Shakya was elected as the first vice president of the association unopposed, Pankajlal Pradhan as the second vice president, Krishna Prasad Ghimire as the general secretary, Santosh Khadka as the secretary and Arunkaji Sthapit as the member, all elected unopposed. Similarly, the AGM elected Sajan Shrestha as the new treasurer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Santosh Silwal Giri, Roshan Regmi, Dipendra Paudel, Bidhan Rajbhandari, Roshan Paudel, Manish Adhikari and Prabhat Rimal were elected as members of the association.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The newly appointed officer bearers and members took the oath of office and secrecy on Sunday itself. The tenure of the executive committee will be of three years.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19647', 'image' => '20240108112812_1704683120.24 agm.jpg', 'article_date' => '2024-01-08 11:27:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19938', 'article_category_id' => '1', 'title' => 'NEPSE Surges by 20.62 Points to Close at 2080.12', 'sub_title' => '', 'summary' => ' The Nepal Stock Exchange (NEPSE) experienced a notable upswing, with its index surging by 20.62 points or 1%, closing the third trading day of the week at 2080.12 on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 9: The Nepal Stock Exchange (NEPSE) experienced a notable upswing, with its index surging by 20.62 points or 1%, closing the third trading day of the week at 2080.12 on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, a total of 309 scrips were traded, involving 104,619 transactions. The shares market witnessed a transaction of 17,949,562 units of shares, amounting to Rs 6.11 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sonapur Minerals and Oil Limited (SONA) took the lead in turnover, with transactions totaling Rs 21 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Remarkably, eight companies, including Karnali Development Bank (KRBL), Sindhu Bikash Bank (SINDU), and Himalayan Reinsurance Limited (HRL), experienced a 10% gain, hitting the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Dhaulagiri Laghubita Bittiya Sanstha (DLBS) faced the highest loss of 8.19%, closing at a market price of Rs 931 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices, except for Hydropower, Manufacturing, and Processing and Mutual Fund, closed in positive territory. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Bank Index saw a robust gain of 5.21%, while Nonlife Insurance experienced a modest 0.60% increase. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hydropower Index suffered the most significant loss at 0.45%, while Manufacturing and Processing incurred a minimal loss of 0.15%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19665', 'image' => '20240109033550_collage (16).jpg', 'article_date' => '2024-01-09 15:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19937', 'article_category_id' => '1', 'title' => 'Cooperative’s Manager, Staff Arrested for Embezzling Rs 1.21 Billion of Depositors ', 'sub_title' => '', 'summary' => 'January 9: Police have arrested the manager and staff of Gokarna-based Kantibhairav Savings and Credit Cooperative Pvt Ltd for embezzling savings of the depositors. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: Police have arrested the manager and staff of Gokarna-based Kantibhairav Savings and Credit Cooperative Pvt Ltd for embezzling savings of the depositors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Metropolitan Police Circle, Bouddha, arrested Chairperson of the Cooperative, Hari Krishna Shrestha of Gokarneshwor municipality-4, former Chairperson and patron, Prem Shrestha, Treasurer Sher Lal Shrestha and Manager Rajendra Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All of them have been kept at Gokarna Police Sector building under the Circle, said Senior Sub-Inspector at the Sector, Rajesh Karki. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Ram Das Shrestha, secretary of the cooperative’s Board of Directors, members Anirudra Shrestha and Radheshyam Shrestha as well as coordinator of the Account Committee, Chandra Prasad Poudel have been absconding. Police have issued arrest warrant in their names. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Proprietors of the cooperative have embezzled Rs 1.21 billion of 7,700 depositors, said chairperson of the taskforce under the Cooperative Victim Struggle Committee, Rajesh Kumar Bista. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">PM instructs Finance Ministry to bring concrete proposal on failing cooperatives </span></strong></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal has instructed the Ministry of Finance to come up with a concrete proposal for the systematic resolution of the problems faced by the depositors of cooperatives, as hundreds of thousands of them have suffered of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During an interaction at the Office of the Prime Minister and Council of Ministers on Monday, the Prime Minister directed to submit an appropriate proposal to take concrete measures to troubleshoot the challenges that cooperatives are facing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Hundreds of thousands of depositors have suffered since the problems of the cooperatives have not been addressed. They are left stranded," the PM said asking the Finance Ministry to come up with a concrete proposal. </span></span></span><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19664', 'image' => '20240109020909_cooperative problematic.jpg', 'article_date' => '2024-01-09 14:08:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19936', 'article_category_id' => '1', 'title' => 'Prime Minister Shows Keen Interest in Budget Ceiling', 'sub_title' => '', 'summary' => 'January 9: The trend of announcing a massive budget without looking at the capacity of the state has made the country’s economic system unstable. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 9: The trend of announcing a massive budget without looking at the capacity of the state has made the country’s economic system unstable. This raises serious questions about the ability of the ruling government and administration to prepare the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has not been able to implement the budget effectively due to the practice of forming a government by forging alliances with various parties and announcing a large budget to fulfill the interests of those parties.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The incumbent government is also formed through a coalition of different parties. Taking the minimum common program issued by the government into consideration, Finance Minister Dr Prakash Sharan Mahat announced the budget for the current fiscal year (FY) on May 29. But the government has failed to implement big programmes included in the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For the current year, the government had announced a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, but has been able to spend only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">355</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent) so far. This clearly shows that the budget expenditure is very poor in the first six months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the budget has provisions to scrap unnecessary bodies and to create employment opportunities, they have not been implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The current expenditure has increase significantly due to the delay in scrapping the government bodies that were supposed to be scrapped as per the budget announcement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the unemployment problem in the country is getting worse due to the non-implementation of employment programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, projects worth billions of rupees are being run at a snail’s pace, while the contractors have not yet received huge amount of payment that has remained due since last year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had announced a capital budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, but has spent only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion so far. From this, it is clear that the pace of development is very slow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While questions are being raised about the preparation of the budget, Prime Minister Pushpa Kamal Dahal has directed the government officials including the finance minister to make the upcoming budget realistic. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">PM Dahal held discussion about the upcoming budget with Finance Minister Dr Mahat, Vice President of the National Planning Commission Dr Min Bahadur Shrestha, Chief Secretary Baikuntha Aryal and other stakeholders.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has pointed out the need for a separate discussion on the process of setting the budget ceiling, saying that a comprehensive discussion between the ministries is necessary when setting the ceiling of the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has also instructed not to set a budget ceiling haphazardly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"When setting the ceiling, let's not set it based on speculations. Let's also call the ministries and discuss. Let's listen to them," he said. "This is also a democratic process. We also need a clear plan about which level of planning to keep at the center and which in provinces and local levels.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has also instructed the Ministry of Finance and the National Planning Commission to prepare policies, programmes and budget so as not to add unnecessary plans, give high priority to old plans that have been pending and focus on a specific strategic plan every year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19663', 'image' => '20240109015651_1683767264.jpg', 'article_date' => '2024-01-09 13:56:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19934', 'article_category_id' => '1', 'title' => 'NEA comes up with Five-Year Installment Facility for Payment of Dedicated and Trunk Line Dues ', 'sub_title' => '', 'summary' => 'January 9: The Nepal Electricity Authority (NEA) has announced a five-year installment facility for the payment of electricity tariff dues related to dedicated feeder and trunk line services. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Nepal Electricity Authority (NEA) has announced a five-year installment facility for the payment of electricity tariff dues related to dedicated feeder and trunk line services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a public notice on Tuesday, the NEA has urged all concerned entities to submit applications for installment facilities at the respective NEA distribution centers within the next 30 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following a decision made during the January 1 meeting of the NEA Board of Directors, industries are now eligible for installment facility to settle their dues associated with the dedicated feeder and trunk line services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA has taken this step in response to the accumulated electricity dues from 61 industries, amounting to Rs 22.24 billion. Consequently, power supply to 25 industries has been disconnected due to the non-payment of the dues. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19661', 'image' => '20240109010201_NEA update.jpg', 'article_date' => '2024-01-09 13:01:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19933', 'article_category_id' => '1', 'title' => 'CNI urges Govt for Legal Reforms to Excel Economy ', 'sub_title' => '', 'summary' => 'January 9: The Confederation of Nepalese Industries (CNI) has submitted a detailed report along with recommendations for the reforms in the legal framework for the country's economic development. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Confederation of Nepalese Industries (CNI) has submitted a detailed report along with recommendations for the reforms in the legal framework for the country's economic development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI said that its President Rajesh Kumar Agrawal submitted the report to Prime Minister Pushpa Kamal Dahal on Monday. The report was also shared with Speaker Devraj Ghimire and Chief Secretary of the government, Dr Baikuntha Aryal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI has recommended amendment to 28 acts and regulations, scrapping of five acts and unveiling three new acts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI has stated that it is essential to reform the laws for making economy vibrant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Agrawal, the report was prepared following intensive research and consultations with legal experts, industrialists, stakeholders, thematic experts and other stakeholders. Comparative study was also conducted by taking references from different countries, CNI stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Agrawal shared that the recommendations are related to Industrial Enterprises Act, 2076; Industrial Enterprise Regulations, 2078; Income Tax Act, 2058; Companies Act, 2063; Forest Act, 2076; Foreign Investment and Technology Transfer Act, 2075 and others. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19660', 'image' => '20240109121554_CNI logo.jpg', 'article_date' => '2024-01-09 12:14:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19932', 'article_category_id' => '1', 'title' => '52 Candidates in the Fray for 19 NA Seats ', 'sub_title' => '', 'summary' => 'January 9: A total of 52 candidates have filed their nomination papers for the 19 National Assembly seats that will fall vacant after the expiry of the terms of the upper house members on March 4. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: A total of 52 candidates have filed their nomination papers for the 19 National Assembly seats that will fall vacant after the expiry of the terms of the upper house members on March 4. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The National Assembly election is scheduled to be held on January 25, thirty-five days before the expiry of the terms of the lawmakers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The nominations were filed on Monday for various categories in the respective election offices of the seven provinces. The 52 candidates who filed their nominations in the seven provinces include 17 for under women's category, six under Dalit category, eight under persons with disabilities or minority communities, and 21 under other groups, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Election Commission, Shaligram Sharma Paudyal, shared that the nomination papers of the candidates were registered at the Office of the Election Officer established in all the seven provinces from 10 am to 3 pm on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Five candidates each have registered their nominations in Koshi and Madhes province, 15 in Bagmati, eight in Gandaki, seven in Lumbini province, and six each in Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the election calendar announced by the EC, complaints against the candidates can be registered on January 9, the nomination papers and complaints received will be reviewed and the list of candidates will be published on January 10 and 11, candidates will able to withdraw their names on January 12 and the final list will be published, and election symbols distributed to the candidates on January 13. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19659', 'image' => '20240109115624_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2024-01-09 11:55:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19930', 'article_category_id' => '1', 'title' => 'New Sub-Variant of COVID-19 Detected in Nepal ', 'sub_title' => '', 'summary' => 'January 9: The Ministry of Health and Population has confirmed the spread of new sub-variant JN.1 of COVID-19 in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Ministry of Health and Population has confirmed the spread of new sub-variant JN.1 of COVID-19 in Nepal. The new sub-variant of COVID-19 is spreading in some countries in the recent weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the ministry has asked one and all to exercise precautionary measures after the detection of the sub-variant JN.1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry's Spokesperson Dr Prakash Budhathoki told the RSS that seven samples out of 16 collected from different parts of the country from different age groups confirmed the presence of the sub-variant JN.1 of Omicron. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has urged the public to avoid crowds and gathering, maintain physical distance, continue using mask and regularly wash hands with soap and water. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19657', 'image' => '20240109110614_coronaaaaa.jpg', 'article_date' => '2024-01-09 11:05:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19929', 'article_category_id' => '1', 'title' => '5.72 Million Metric Tons of Paddy Harvested', 'sub_title' => '', 'summary' => 'The Ministry of Agriculture and Livestock Development revealed that the country produced 5.72 million metric tons of paddy this year. Compared to the last financial year, the production of paddy increased by 4.33 percent in the current year, according to the ministry.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 9: The Ministry of Agriculture and Livestock Development revealed that the country produced 5.72 million metric tons of paddy this year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Compared to the last financial year, the production of paddy increased by 4.33 percent in the current year, according to the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, paddy production this year increased by 5.08 percent compared to the average production of the last four years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, the area of paddy cultivation has decreased even though total output increased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the ministry, the total area with paddy plantation decreased by 0.61 i.e. 8,800 hectares compared to last year to come down to 1.43 million hectares. This is less by 1.73 per cent compared to the average area of the last four years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Hence, the productivity has increased. "The average productivity of paddy has increased by 4.97 per cent compared to last year and reached 3.98 metric tons per hectare", adds the statement issued by the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The productivity this year is 6.92 per cent higher than the average productivity of the last four years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of productivity, Koshi province leads with 4.43 metric tons per hectare while it is the lowest in Madhes province with 3.49 metric tons per hectare. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Several factors have contributed to surge of paddy production, including the adoption of developed seeds, a decrease in the impact of diseases and pests, improved fertilizer availability, enhanced use of agricultural tools and technology, and effective seasonal adaptation strategies.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Ministry gathered the paddy crop statistics using satellite images in collaboration with the Ministries of Agriculture across all seven provinces and the International Centre for Integrated Mountain Development (ICIMOD). (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19656', 'image' => '20240109055844_collage (6).jpg', 'article_date' => '2024-01-09 05:56:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19928', 'article_category_id' => '1', 'title' => 'NEPSE Posts Gain of 36.57 Points to Close at 2059.49', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index surged by 36.57 points or 1.80%, closing at 2059.49 during the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 8: The Nepal Stock Exchange (NEPSE) Index surged by 36.57 points or 1.80%, closing at 2059.49 during the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Analysts and investors are optimistic, suggesting that the market may have completed its correction phase and is poised for an upward trend, fueled by excess liquidity in the banking system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, a total of 309 scrips were exchanged through 99,524 transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market turnover amounted to Rs 4.67 billion, involving 13,709,276 units of shares. Remarkably, Sonapur Minerals and Oil Limited (SONA) led the turnover with Rs 21 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Singati Hydro Energy Limited (SHEL), Modi Energy Limited (MEL), Trishuli Jal Vidhyut Company Limited (TVCL), and Muktinath Krishi Company Limited (MKCL) each experienced a 10% increase, hitting the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector performance, all sectors, except for Mutual Funds, showed positive trends.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Life Insurance led the gains with an impressive 3.72%, while Manufacturing and Processing posted a modest increase of 0.56%. Mutual Funds experienced a marginal loss of 0.01% during the trading session.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19655', 'image' => '20240108032733_collage (15).jpg', 'article_date' => '2024-01-08 15:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19926', 'article_category_id' => '1', 'title' => 'Election Commission Publishes Final List of Voters for National Assembly Election', 'sub_title' => ' The List includes 549 Voters from Province Assemblies, 1,498 from Local Levels ', 'summary' => 'January 8: The Election Commission (EC) has released the final list of voters for the upcoming National Assembly election.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: The Election Commission (EC) has released the final list of voters for the upcoming National Assembly election. Issuing a press statement on Sunday, the EC informed that final list of voters have been published at the offices of election officers in all seven provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the EC update, there are a total of 549 voters from all seven province assemblies while 1,498 voters from local levels. However, the total vote weightage (one vote equals to 53 votes) from provinces is 29,097 while that from local level (one vote equals to 53 votes) is 28,462. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Categorically, Koshi Province members contribute 93 votes while 377 voters include chair, vice chairs, mayors and deputy mayors from rural municipalities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, there are a total of 374 voters from Madhes Province including 107 province assembly members and 267 mayors and deputy mayors of metropolis, sub-metropolis and municipalities, and chiefs and deputy chiefs of rural municipalities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Madhes Province, the total weightage of vote from the province assembly members is 5,571 and that of the chairpersons and vice-chairpersons of rural municipalities and mayors and deputy mayors is 5,073. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Bagmati Province, the number of voters is 347 including 110 province assembly members and the vote weightage in Bagmati Province is 10,333. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Election Commission stated that the number of voters is 230 in Gandaki Province and the total weightage of votes is 6,410. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, in Lumbini Province, there are a total of 305 voters including 87 voters from province assembly and 218 voters from rural municipality including chairpersons and vice-chairpersons. In the province, the vote weightage is 8,753 including 4,611 of province assembly members and 4,142 of rural municipality chairpersons and vice-chairpersons, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Karnali Province, the number of province assembly members is 40 while there are 156 rural municipality chairpersons and vice-chairpersons. The total weightage of vote in the province is 5,084 including 2,120 of province assembly and 2,120 of rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there are 228 voters in Sudurpaschim Province, including 52 province assembly members and 173 rural municipality chairpersons and vice-chairpersons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among them, the total weightage of vote in the province is 6,100 including 2,756 of province assembly members and 3,344 of rural municipality chairpersons and vice-chairpersons, the EC added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19654', 'image' => '20240108022303_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2024-01-08 14:21:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19925', 'article_category_id' => '1', 'title' => 'Government Fails to Cut Expenditure in Six Months of Current FY', 'sub_title' => '', 'summary' => 'January 8: The government had announced massive spending cuts but has failed to take such measures.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: The government had announced massive spending cuts but has failed to take such measures.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is almost six months since the implementation of budget started in the current fiscal year but the government has not been able to effectively implement the expenditure reduction measures announced in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Prakash Sharan Mahat had said that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> government institutions will be scrapped and similar institutions will be merged with each other in a bid to cut expenses. Those bodies are still running in the same structure as before. Their employees are getting their salaries and allowances as usual.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Until now, the government has been releasing budget for the current expenses to the agencies that were said to be scrapped. It seems that the announcement regarding the reduction of expenditure made in the budget will not be implemented effectively, just like the announcement of scrapping government boards and establishments in the previous budget which has not been implemented yet. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget on May 29, Finance Minister Mahat had said that all types of incentives, allowances, and over-time allowances will be cancelled. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At that time, experts had pointed out the risk of non-cooperation from the bureaucracy in the implementation of the budget announced by the government due to lack of incentives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the prime minister and ministers have repeatedly issued directives to the government employees, there has not been satisfactory improvement in the spending of capital budget. As of Saturday, only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">43.35</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion have been spent under the heading of capital expenditure. The government has allocated Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for this year's capital expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is also mentioned in the budget statement that the old and unused vehicles and goods in the government agencies will be auctioned within six months. Even though the six-month period is about to end, such vehicles and goods have not been auctioned. This shows that most of the big programs brought by the government to cut expenditure have not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">High-ranking officials of the Ministry of Finance say that the government has not been able to implement the announcements made in the budget because of the lobbying from the government employees who fear that the facilities that they are enjoying will be curtailed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is lobbying from the high-level political leadership not to take away the facilities that the government officials have been enjoying so far, that's why the expenditure reduction plans announced in the budget could not be implemented effectively," said the official. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the fact that the government has not effectively cut down the expenditure, it has already spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion have been spent so far under current headings. This amount is spent in administrative expenses including salaries and allowances of employees.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has recently scrapped </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> posts in the Office of the Prime Minister and Council of Ministers just to show that it has cut expenses, but that decision has not yet been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> employees in the Prime Minister's Office alone, including the chief secretary. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the current government's decision to reduce the posts is positive, experts believe that it is necessary to abolish other unnecessary posts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Communications and Information Technology Minister and Government Spokesperson Rekha Sharma said that homework is being done to transfer officials in the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">canceled posts to other ministries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, last week, the Council of Ministers also decided to cut lunch expenses during cabinet meetings. It seems that the prime minister's attention is focused on small publicity work rather than implementing the announcement of major spending cuts. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19653', 'image' => '20240108021736_1683767264.jpg', 'article_date' => '2024-01-08 14:16:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19927', 'article_category_id' => '1', 'title' => 'COVID-19 Detected among India-Returnees ', 'sub_title' => '', 'summary' => 'January 8: Coronavirus infection has been detected among the Nepali nationals returning home from different cities of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: Coronavirus infection has been detected among the Nepali nationals returning home from different cities of India. Coronavirus test has been made mandatory at Nepal-India border areas after the new variant of coronavirus (JN.1) was detected in India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Health Desk set up at Gauriphanta checkpoint, Ganesh Saud, told RSS that coronavirus infection was so far detected in 10 people who returned from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have been conducting antigen test among India-returnees and 10 cases of coronavirus were recorded so far," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Saud shared that those found infected with coronavirus have been suggested to stay in home isolation. Hundreds of Nepalis are returning home every day via Gauriphanta checkpoint from different places of India. Samples were collected and sent to Kathmandu to confirm the variant of corona two week ago, but its report has not been received yet, added the Health Desk Chief. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, coronavirus has not been confirmed on Nepalis returning home using Gaddachauki checkpoint of Kanchanpur so far, according to the District Health Office, Kanchanpur. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19652', 'image' => '20240108022815_coronaaaaa.jpg', 'article_date' => '2024-01-08 14:27:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19924', 'article_category_id' => '1', 'title' => 'NIA Increases Scope of Investment of Insurance Companies', 'sub_title' => '', 'summary' => 'January 8: Nepal Insurance Authority has paved the way for life insurance companies, non-life insurance companies and reinsurance companies to invest outside the provisions included in the investment guidelines.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: Nepal Insurance Authority has paved the way for life insurance companies, non-life insurance companies and reinsurance companies to invest outside the provisions included in the investment guidelines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By revising the investment guidelines, the regulatory body has made arrangements for insurance companies to invest beyond what is mentioned in the investment guidelines by taking prior approval from the authority. The insurance companies are also allowed to invest more than the specified percentage.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the Investment Guidelines </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clearly mentions the areas and limits of investment, the revised guidelines of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> has a provision that allows insurance companies to invest in areas other than those mentioned in the guidelines and more than the specified percentage with the prior approval of the authority. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This has opened the way for the officials of the NIA to approve the investment as per the proposal of the insurance companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Experts point to the risk that the funds accumulated in the insurance company may be misused by the new arrangement. "It is good if the provision to increase the limit is used in cases where investment cannot be made as specified in the guidelines," insurance expert Dr Rabindra Ghimire said, adding, "If the investment sinks by giving arbitrary approval, the insurance company itself may be at risk." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the authority has designated the area of investment, he suggested that the insurance companies should have their own risk management strategy and should invest accordingly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, Rajuraman Paudel, the executive director of the NIA, says that the provision was put in place to approve investment in potential areas. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Investments made by insurance companies should be safe," he said, "To ensure that the investment is safe, the authority gives permission to invest in areas other than the specified areas and beyond the limits only after careful observation."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authority has opened the way for insurance companies to invest in private equity funds and venture capital funds through the amendment of the guidelines and has also increased the limit for investing in shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the guidelines, it is stipulated that prior approval of the authority is also required to invest in private equity and venture capital funds in infrastructure and productive sectors such as real estate business and water resources, agriculture, tourism, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the new guidelines, life insurance companies, non-life insurance companies and reinsurance companies will now be allowed to invest in private equity funds and venture capital funds approved to do business by the Securities Board of Nepal in accordance with the Specialized Investment Fund Regulations. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Companies can invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total investment in such funds. Similarly, arrangements has been made so that only up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent can be invested in one particular fund. The authority has not allowed micro insurance companies to invest in such funds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Securities Board of Nepal has been giving approval for the operation of private equity and venture capital funds according to the 'Specialized Investment Fund Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2075</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. So far, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies have received permission to operate such funds. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prior to this, Nepal Rastra Bank has also opened the way for banks and financial institutions to invest in private equity and venture capital funds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the NIA has increased the limit of the amount that small insurance companies can invest in shares of life insurance companies, non-life insurance companies and reinsurance companies. According to the revised guidelines, the micro insurance companies will now be allowed to invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total investment in shares of insurance companies. Previously, there was a provision that such companies could only invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, insurance companies are allowed to invest in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> areas specified by the guidelines. However, the investment of companies is focused on term deposits of banks and financial institutions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority's data, as of mid-October of the current fiscal year, life insurance companies have invested a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and non-life insurance companies have invested Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60 </span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion in various sectors, mostly term deposits of BFIs. Out of that, life insurance companies have invested </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">77 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of their accumulated funds and non-life insurance have invested</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> 79 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent in fixed deposits of banks and financial institutions. Among fixed deposits, the largest investment is in commercial banks. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the insurance companies complained that they were not able to diversify their investments, the then Insurance Board of Nepal amended the investment guidelines five years ago, opening the way for companies to invest in infrastructure and productive sectors such as real estate business and water resources, agriculture, tourism, in addition to fixed deposits and shares. However, even after five</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">years of changes in the guidelines, the investment of insurance companies in the new sectors is negligible.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19651', 'image' => '20240108013150_INSURANCE-COVERAGE.jpg', 'article_date' => '2024-01-08 13:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19921', 'article_category_id' => '1', 'title' => 'EV Woes: Service-Seekers Face Inconvenience due to Delay in Repair of Charging Station ', 'sub_title' => '', 'summary' => 'January 8: Users of electric vehicles are deprived of charging service in one of the major highways of the country as the charging station based at Muglin Bazaar of Ichhakamana rural municipality-5, Chitwan, remains dysfunctional for nearly two months. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: Users of electric vehicles are deprived of charging service in one of the major highways of the country as the charging station based at Muglin Bazaar of Ichhakamana rural municipality-5, Chitwan, remains dysfunctional for nearly two months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charging nozzle of the charging station has reportedly broken and two DC chargers are dysfunctional less than a year since the station was installed. Only one AC charger is functioning at present. It takes long time to charge vehicles using the AC charger. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhruba Gurung of Gorkha who came to charge his car complained that service-seekers have been facing problem as the charging station is yet to be repaired. He said that one has to wait for hours to charge vehicles using AC charger. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The vehicle used to be fully charged in one hour when the charging station was functioning. Now, one has to wait for 2-3 hours to fully charge the car," he expressed his dismay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He complained that although the government has emphasized on using electric vehicles, it has not paid attention to constructing additional charging stations and repairing the dysfunctional ones in time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, people have to wait in queue for many hours to charge their vehicles since there are not enough charging stations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shiva Adhikari, project manager of Digo, the company which is responsible for constructing the charging station, said that the problem is due to the broken charging nozzle and they have already ordered for the required spare parts that need to be changed. He added that the equipment would be arriving in a day or two. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Adhikari said that the repair works would be carried out in a day or two by dispatching a technical team. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Adhikari said 62 charging stations have been installed throughout the country in collaboration with the Nepal Electricity Authority (NEA). He stated that problems have been detected in 20 of them. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19648', 'image' => '20240108120436_20231015032757_NEA Launches 51 Rapid Charging Stations.jpg', 'article_date' => '2024-01-08 12:03:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19920', 'article_category_id' => '1', 'title' => 'Advertising Association of Nepal gets a New Executive Committee', 'sub_title' => '', 'summary' => 'January 8: Nepal Advertising Association has elected a 14-member executive committee under the leadership of Sudip Thapa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: Nepal Advertising Association has elected a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">member executive committee under the leadership of Sudip Thapa.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th annual general meeting of the association on Sunday elected the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th central working committee under the leadership of Thapa, in which other officer bearers except the treasurer were elected unopposed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The treasurer and members were decided through voting.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ujay Shakya was elected as the first vice president of the association unopposed, Pankajlal Pradhan as the second vice president, Krishna Prasad Ghimire as the general secretary, Santosh Khadka as the secretary and Arunkaji Sthapit as the member, all elected unopposed. Similarly, the AGM elected Sajan Shrestha as the new treasurer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Santosh Silwal Giri, Roshan Regmi, Dipendra Paudel, Bidhan Rajbhandari, Roshan Paudel, Manish Adhikari and Prabhat Rimal were elected as members of the association.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The newly appointed officer bearers and members took the oath of office and secrecy on Sunday itself. The tenure of the executive committee will be of three years.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19647', 'image' => '20240108112812_1704683120.24 agm.jpg', 'article_date' => '2024-01-08 11:27:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19938', 'article_category_id' => '1', 'title' => 'NEPSE Surges by 20.62 Points to Close at 2080.12', 'sub_title' => '', 'summary' => ' The Nepal Stock Exchange (NEPSE) experienced a notable upswing, with its index surging by 20.62 points or 1%, closing the third trading day of the week at 2080.12 on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 9: The Nepal Stock Exchange (NEPSE) experienced a notable upswing, with its index surging by 20.62 points or 1%, closing the third trading day of the week at 2080.12 on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, a total of 309 scrips were traded, involving 104,619 transactions. The shares market witnessed a transaction of 17,949,562 units of shares, amounting to Rs 6.11 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sonapur Minerals and Oil Limited (SONA) took the lead in turnover, with transactions totaling Rs 21 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Remarkably, eight companies, including Karnali Development Bank (KRBL), Sindhu Bikash Bank (SINDU), and Himalayan Reinsurance Limited (HRL), experienced a 10% gain, hitting the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Dhaulagiri Laghubita Bittiya Sanstha (DLBS) faced the highest loss of 8.19%, closing at a market price of Rs 931 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices, except for Hydropower, Manufacturing, and Processing and Mutual Fund, closed in positive territory. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Bank Index saw a robust gain of 5.21%, while Nonlife Insurance experienced a modest 0.60% increase. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hydropower Index suffered the most significant loss at 0.45%, while Manufacturing and Processing incurred a minimal loss of 0.15%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19665', 'image' => '20240109033550_collage (16).jpg', 'article_date' => '2024-01-09 15:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19937', 'article_category_id' => '1', 'title' => 'Cooperative’s Manager, Staff Arrested for Embezzling Rs 1.21 Billion of Depositors ', 'sub_title' => '', 'summary' => 'January 9: Police have arrested the manager and staff of Gokarna-based Kantibhairav Savings and Credit Cooperative Pvt Ltd for embezzling savings of the depositors. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: Police have arrested the manager and staff of Gokarna-based Kantibhairav Savings and Credit Cooperative Pvt Ltd for embezzling savings of the depositors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Metropolitan Police Circle, Bouddha, arrested Chairperson of the Cooperative, Hari Krishna Shrestha of Gokarneshwor municipality-4, former Chairperson and patron, Prem Shrestha, Treasurer Sher Lal Shrestha and Manager Rajendra Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All of them have been kept at Gokarna Police Sector building under the Circle, said Senior Sub-Inspector at the Sector, Rajesh Karki. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Ram Das Shrestha, secretary of the cooperative’s Board of Directors, members Anirudra Shrestha and Radheshyam Shrestha as well as coordinator of the Account Committee, Chandra Prasad Poudel have been absconding. Police have issued arrest warrant in their names. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Proprietors of the cooperative have embezzled Rs 1.21 billion of 7,700 depositors, said chairperson of the taskforce under the Cooperative Victim Struggle Committee, Rajesh Kumar Bista. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">PM instructs Finance Ministry to bring concrete proposal on failing cooperatives </span></strong></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal has instructed the Ministry of Finance to come up with a concrete proposal for the systematic resolution of the problems faced by the depositors of cooperatives, as hundreds of thousands of them have suffered of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During an interaction at the Office of the Prime Minister and Council of Ministers on Monday, the Prime Minister directed to submit an appropriate proposal to take concrete measures to troubleshoot the challenges that cooperatives are facing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Hundreds of thousands of depositors have suffered since the problems of the cooperatives have not been addressed. They are left stranded," the PM said asking the Finance Ministry to come up with a concrete proposal. </span></span></span><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19664', 'image' => '20240109020909_cooperative problematic.jpg', 'article_date' => '2024-01-09 14:08:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19936', 'article_category_id' => '1', 'title' => 'Prime Minister Shows Keen Interest in Budget Ceiling', 'sub_title' => '', 'summary' => 'January 9: The trend of announcing a massive budget without looking at the capacity of the state has made the country’s economic system unstable. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 9: The trend of announcing a massive budget without looking at the capacity of the state has made the country’s economic system unstable. This raises serious questions about the ability of the ruling government and administration to prepare the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has not been able to implement the budget effectively due to the practice of forming a government by forging alliances with various parties and announcing a large budget to fulfill the interests of those parties.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The incumbent government is also formed through a coalition of different parties. Taking the minimum common program issued by the government into consideration, Finance Minister Dr Prakash Sharan Mahat announced the budget for the current fiscal year (FY) on May 29. But the government has failed to implement big programmes included in the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For the current year, the government had announced a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, but has been able to spend only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">355</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent) so far. This clearly shows that the budget expenditure is very poor in the first six months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the budget has provisions to scrap unnecessary bodies and to create employment opportunities, they have not been implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The current expenditure has increase significantly due to the delay in scrapping the government bodies that were supposed to be scrapped as per the budget announcement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the unemployment problem in the country is getting worse due to the non-implementation of employment programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, projects worth billions of rupees are being run at a snail’s pace, while the contractors have not yet received huge amount of payment that has remained due since last year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had announced a capital budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, but has spent only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion so far. From this, it is clear that the pace of development is very slow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While questions are being raised about the preparation of the budget, Prime Minister Pushpa Kamal Dahal has directed the government officials including the finance minister to make the upcoming budget realistic. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">PM Dahal held discussion about the upcoming budget with Finance Minister Dr Mahat, Vice President of the National Planning Commission Dr Min Bahadur Shrestha, Chief Secretary Baikuntha Aryal and other stakeholders.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has pointed out the need for a separate discussion on the process of setting the budget ceiling, saying that a comprehensive discussion between the ministries is necessary when setting the ceiling of the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has also instructed not to set a budget ceiling haphazardly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"When setting the ceiling, let's not set it based on speculations. Let's also call the ministries and discuss. Let's listen to them," he said. "This is also a democratic process. We also need a clear plan about which level of planning to keep at the center and which in provinces and local levels.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has also instructed the Ministry of Finance and the National Planning Commission to prepare policies, programmes and budget so as not to add unnecessary plans, give high priority to old plans that have been pending and focus on a specific strategic plan every year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19663', 'image' => '20240109015651_1683767264.jpg', 'article_date' => '2024-01-09 13:56:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19934', 'article_category_id' => '1', 'title' => 'NEA comes up with Five-Year Installment Facility for Payment of Dedicated and Trunk Line Dues ', 'sub_title' => '', 'summary' => 'January 9: The Nepal Electricity Authority (NEA) has announced a five-year installment facility for the payment of electricity tariff dues related to dedicated feeder and trunk line services. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Nepal Electricity Authority (NEA) has announced a five-year installment facility for the payment of electricity tariff dues related to dedicated feeder and trunk line services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a public notice on Tuesday, the NEA has urged all concerned entities to submit applications for installment facilities at the respective NEA distribution centers within the next 30 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following a decision made during the January 1 meeting of the NEA Board of Directors, industries are now eligible for installment facility to settle their dues associated with the dedicated feeder and trunk line services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA has taken this step in response to the accumulated electricity dues from 61 industries, amounting to Rs 22.24 billion. Consequently, power supply to 25 industries has been disconnected due to the non-payment of the dues. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19661', 'image' => '20240109010201_NEA update.jpg', 'article_date' => '2024-01-09 13:01:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19933', 'article_category_id' => '1', 'title' => 'CNI urges Govt for Legal Reforms to Excel Economy ', 'sub_title' => '', 'summary' => 'January 9: The Confederation of Nepalese Industries (CNI) has submitted a detailed report along with recommendations for the reforms in the legal framework for the country's economic development. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Confederation of Nepalese Industries (CNI) has submitted a detailed report along with recommendations for the reforms in the legal framework for the country's economic development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI said that its President Rajesh Kumar Agrawal submitted the report to Prime Minister Pushpa Kamal Dahal on Monday. The report was also shared with Speaker Devraj Ghimire and Chief Secretary of the government, Dr Baikuntha Aryal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI has recommended amendment to 28 acts and regulations, scrapping of five acts and unveiling three new acts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI has stated that it is essential to reform the laws for making economy vibrant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Agrawal, the report was prepared following intensive research and consultations with legal experts, industrialists, stakeholders, thematic experts and other stakeholders. Comparative study was also conducted by taking references from different countries, CNI stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Agrawal shared that the recommendations are related to Industrial Enterprises Act, 2076; Industrial Enterprise Regulations, 2078; Income Tax Act, 2058; Companies Act, 2063; Forest Act, 2076; Foreign Investment and Technology Transfer Act, 2075 and others. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19660', 'image' => '20240109121554_CNI logo.jpg', 'article_date' => '2024-01-09 12:14:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19932', 'article_category_id' => '1', 'title' => '52 Candidates in the Fray for 19 NA Seats ', 'sub_title' => '', 'summary' => 'January 9: A total of 52 candidates have filed their nomination papers for the 19 National Assembly seats that will fall vacant after the expiry of the terms of the upper house members on March 4. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: A total of 52 candidates have filed their nomination papers for the 19 National Assembly seats that will fall vacant after the expiry of the terms of the upper house members on March 4. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The National Assembly election is scheduled to be held on January 25, thirty-five days before the expiry of the terms of the lawmakers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The nominations were filed on Monday for various categories in the respective election offices of the seven provinces. The 52 candidates who filed their nominations in the seven provinces include 17 for under women's category, six under Dalit category, eight under persons with disabilities or minority communities, and 21 under other groups, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Election Commission, Shaligram Sharma Paudyal, shared that the nomination papers of the candidates were registered at the Office of the Election Officer established in all the seven provinces from 10 am to 3 pm on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Five candidates each have registered their nominations in Koshi and Madhes province, 15 in Bagmati, eight in Gandaki, seven in Lumbini province, and six each in Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the election calendar announced by the EC, complaints against the candidates can be registered on January 9, the nomination papers and complaints received will be reviewed and the list of candidates will be published on January 10 and 11, candidates will able to withdraw their names on January 12 and the final list will be published, and election symbols distributed to the candidates on January 13. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19659', 'image' => '20240109115624_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2024-01-09 11:55:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19930', 'article_category_id' => '1', 'title' => 'New Sub-Variant of COVID-19 Detected in Nepal ', 'sub_title' => '', 'summary' => 'January 9: The Ministry of Health and Population has confirmed the spread of new sub-variant JN.1 of COVID-19 in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Ministry of Health and Population has confirmed the spread of new sub-variant JN.1 of COVID-19 in Nepal. The new sub-variant of COVID-19 is spreading in some countries in the recent weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the ministry has asked one and all to exercise precautionary measures after the detection of the sub-variant JN.1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry's Spokesperson Dr Prakash Budhathoki told the RSS that seven samples out of 16 collected from different parts of the country from different age groups confirmed the presence of the sub-variant JN.1 of Omicron. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has urged the public to avoid crowds and gathering, maintain physical distance, continue using mask and regularly wash hands with soap and water. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19657', 'image' => '20240109110614_coronaaaaa.jpg', 'article_date' => '2024-01-09 11:05:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19929', 'article_category_id' => '1', 'title' => '5.72 Million Metric Tons of Paddy Harvested', 'sub_title' => '', 'summary' => 'The Ministry of Agriculture and Livestock Development revealed that the country produced 5.72 million metric tons of paddy this year. Compared to the last financial year, the production of paddy increased by 4.33 percent in the current year, according to the ministry.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 9: The Ministry of Agriculture and Livestock Development revealed that the country produced 5.72 million metric tons of paddy this year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Compared to the last financial year, the production of paddy increased by 4.33 percent in the current year, according to the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, paddy production this year increased by 5.08 percent compared to the average production of the last four years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, the area of paddy cultivation has decreased even though total output increased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the ministry, the total area with paddy plantation decreased by 0.61 i.e. 8,800 hectares compared to last year to come down to 1.43 million hectares. This is less by 1.73 per cent compared to the average area of the last four years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Hence, the productivity has increased. "The average productivity of paddy has increased by 4.97 per cent compared to last year and reached 3.98 metric tons per hectare", adds the statement issued by the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The productivity this year is 6.92 per cent higher than the average productivity of the last four years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of productivity, Koshi province leads with 4.43 metric tons per hectare while it is the lowest in Madhes province with 3.49 metric tons per hectare. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Several factors have contributed to surge of paddy production, including the adoption of developed seeds, a decrease in the impact of diseases and pests, improved fertilizer availability, enhanced use of agricultural tools and technology, and effective seasonal adaptation strategies.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Ministry gathered the paddy crop statistics using satellite images in collaboration with the Ministries of Agriculture across all seven provinces and the International Centre for Integrated Mountain Development (ICIMOD). (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19656', 'image' => '20240109055844_collage (6).jpg', 'article_date' => '2024-01-09 05:56:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19928', 'article_category_id' => '1', 'title' => 'NEPSE Posts Gain of 36.57 Points to Close at 2059.49', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index surged by 36.57 points or 1.80%, closing at 2059.49 during the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 8: The Nepal Stock Exchange (NEPSE) Index surged by 36.57 points or 1.80%, closing at 2059.49 during the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Analysts and investors are optimistic, suggesting that the market may have completed its correction phase and is poised for an upward trend, fueled by excess liquidity in the banking system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, a total of 309 scrips were exchanged through 99,524 transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market turnover amounted to Rs 4.67 billion, involving 13,709,276 units of shares. Remarkably, Sonapur Minerals and Oil Limited (SONA) led the turnover with Rs 21 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Singati Hydro Energy Limited (SHEL), Modi Energy Limited (MEL), Trishuli Jal Vidhyut Company Limited (TVCL), and Muktinath Krishi Company Limited (MKCL) each experienced a 10% increase, hitting the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector performance, all sectors, except for Mutual Funds, showed positive trends.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Life Insurance led the gains with an impressive 3.72%, while Manufacturing and Processing posted a modest increase of 0.56%. Mutual Funds experienced a marginal loss of 0.01% during the trading session.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19655', 'image' => '20240108032733_collage (15).jpg', 'article_date' => '2024-01-08 15:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19926', 'article_category_id' => '1', 'title' => 'Election Commission Publishes Final List of Voters for National Assembly Election', 'sub_title' => ' The List includes 549 Voters from Province Assemblies, 1,498 from Local Levels ', 'summary' => 'January 8: The Election Commission (EC) has released the final list of voters for the upcoming National Assembly election.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: The Election Commission (EC) has released the final list of voters for the upcoming National Assembly election. Issuing a press statement on Sunday, the EC informed that final list of voters have been published at the offices of election officers in all seven provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the EC update, there are a total of 549 voters from all seven province assemblies while 1,498 voters from local levels. However, the total vote weightage (one vote equals to 53 votes) from provinces is 29,097 while that from local level (one vote equals to 53 votes) is 28,462. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Categorically, Koshi Province members contribute 93 votes while 377 voters include chair, vice chairs, mayors and deputy mayors from rural municipalities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, there are a total of 374 voters from Madhes Province including 107 province assembly members and 267 mayors and deputy mayors of metropolis, sub-metropolis and municipalities, and chiefs and deputy chiefs of rural municipalities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Madhes Province, the total weightage of vote from the province assembly members is 5,571 and that of the chairpersons and vice-chairpersons of rural municipalities and mayors and deputy mayors is 5,073. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Bagmati Province, the number of voters is 347 including 110 province assembly members and the vote weightage in Bagmati Province is 10,333. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Election Commission stated that the number of voters is 230 in Gandaki Province and the total weightage of votes is 6,410. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, in Lumbini Province, there are a total of 305 voters including 87 voters from province assembly and 218 voters from rural municipality including chairpersons and vice-chairpersons. In the province, the vote weightage is 8,753 including 4,611 of province assembly members and 4,142 of rural municipality chairpersons and vice-chairpersons, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Karnali Province, the number of province assembly members is 40 while there are 156 rural municipality chairpersons and vice-chairpersons. The total weightage of vote in the province is 5,084 including 2,120 of province assembly and 2,120 of rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there are 228 voters in Sudurpaschim Province, including 52 province assembly members and 173 rural municipality chairpersons and vice-chairpersons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among them, the total weightage of vote in the province is 6,100 including 2,756 of province assembly members and 3,344 of rural municipality chairpersons and vice-chairpersons, the EC added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19654', 'image' => '20240108022303_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2024-01-08 14:21:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19925', 'article_category_id' => '1', 'title' => 'Government Fails to Cut Expenditure in Six Months of Current FY', 'sub_title' => '', 'summary' => 'January 8: The government had announced massive spending cuts but has failed to take such measures.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: The government had announced massive spending cuts but has failed to take such measures.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is almost six months since the implementation of budget started in the current fiscal year but the government has not been able to effectively implement the expenditure reduction measures announced in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Prakash Sharan Mahat had said that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> government institutions will be scrapped and similar institutions will be merged with each other in a bid to cut expenses. Those bodies are still running in the same structure as before. Their employees are getting their salaries and allowances as usual.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Until now, the government has been releasing budget for the current expenses to the agencies that were said to be scrapped. It seems that the announcement regarding the reduction of expenditure made in the budget will not be implemented effectively, just like the announcement of scrapping government boards and establishments in the previous budget which has not been implemented yet. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget on May 29, Finance Minister Mahat had said that all types of incentives, allowances, and over-time allowances will be cancelled. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At that time, experts had pointed out the risk of non-cooperation from the bureaucracy in the implementation of the budget announced by the government due to lack of incentives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the prime minister and ministers have repeatedly issued directives to the government employees, there has not been satisfactory improvement in the spending of capital budget. As of Saturday, only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">43.35</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion have been spent under the heading of capital expenditure. The government has allocated Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for this year's capital expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is also mentioned in the budget statement that the old and unused vehicles and goods in the government agencies will be auctioned within six months. Even though the six-month period is about to end, such vehicles and goods have not been auctioned. This shows that most of the big programs brought by the government to cut expenditure have not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">High-ranking officials of the Ministry of Finance say that the government has not been able to implement the announcements made in the budget because of the lobbying from the government employees who fear that the facilities that they are enjoying will be curtailed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is lobbying from the high-level political leadership not to take away the facilities that the government officials have been enjoying so far, that's why the expenditure reduction plans announced in the budget could not be implemented effectively," said the official. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the fact that the government has not effectively cut down the expenditure, it has already spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion have been spent so far under current headings. This amount is spent in administrative expenses including salaries and allowances of employees.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has recently scrapped </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> posts in the Office of the Prime Minister and Council of Ministers just to show that it has cut expenses, but that decision has not yet been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> employees in the Prime Minister's Office alone, including the chief secretary. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the current government's decision to reduce the posts is positive, experts believe that it is necessary to abolish other unnecessary posts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Communications and Information Technology Minister and Government Spokesperson Rekha Sharma said that homework is being done to transfer officials in the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">canceled posts to other ministries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, last week, the Council of Ministers also decided to cut lunch expenses during cabinet meetings. It seems that the prime minister's attention is focused on small publicity work rather than implementing the announcement of major spending cuts. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19653', 'image' => '20240108021736_1683767264.jpg', 'article_date' => '2024-01-08 14:16:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19927', 'article_category_id' => '1', 'title' => 'COVID-19 Detected among India-Returnees ', 'sub_title' => '', 'summary' => 'January 8: Coronavirus infection has been detected among the Nepali nationals returning home from different cities of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: Coronavirus infection has been detected among the Nepali nationals returning home from different cities of India. Coronavirus test has been made mandatory at Nepal-India border areas after the new variant of coronavirus (JN.1) was detected in India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Health Desk set up at Gauriphanta checkpoint, Ganesh Saud, told RSS that coronavirus infection was so far detected in 10 people who returned from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have been conducting antigen test among India-returnees and 10 cases of coronavirus were recorded so far," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Saud shared that those found infected with coronavirus have been suggested to stay in home isolation. Hundreds of Nepalis are returning home every day via Gauriphanta checkpoint from different places of India. Samples were collected and sent to Kathmandu to confirm the variant of corona two week ago, but its report has not been received yet, added the Health Desk Chief. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, coronavirus has not been confirmed on Nepalis returning home using Gaddachauki checkpoint of Kanchanpur so far, according to the District Health Office, Kanchanpur. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19652', 'image' => '20240108022815_coronaaaaa.jpg', 'article_date' => '2024-01-08 14:27:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19924', 'article_category_id' => '1', 'title' => 'NIA Increases Scope of Investment of Insurance Companies', 'sub_title' => '', 'summary' => 'January 8: Nepal Insurance Authority has paved the way for life insurance companies, non-life insurance companies and reinsurance companies to invest outside the provisions included in the investment guidelines.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: Nepal Insurance Authority has paved the way for life insurance companies, non-life insurance companies and reinsurance companies to invest outside the provisions included in the investment guidelines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By revising the investment guidelines, the regulatory body has made arrangements for insurance companies to invest beyond what is mentioned in the investment guidelines by taking prior approval from the authority. The insurance companies are also allowed to invest more than the specified percentage.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the Investment Guidelines </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clearly mentions the areas and limits of investment, the revised guidelines of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> has a provision that allows insurance companies to invest in areas other than those mentioned in the guidelines and more than the specified percentage with the prior approval of the authority. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This has opened the way for the officials of the NIA to approve the investment as per the proposal of the insurance companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Experts point to the risk that the funds accumulated in the insurance company may be misused by the new arrangement. "It is good if the provision to increase the limit is used in cases where investment cannot be made as specified in the guidelines," insurance expert Dr Rabindra Ghimire said, adding, "If the investment sinks by giving arbitrary approval, the insurance company itself may be at risk." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the authority has designated the area of investment, he suggested that the insurance companies should have their own risk management strategy and should invest accordingly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, Rajuraman Paudel, the executive director of the NIA, says that the provision was put in place to approve investment in potential areas. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Investments made by insurance companies should be safe," he said, "To ensure that the investment is safe, the authority gives permission to invest in areas other than the specified areas and beyond the limits only after careful observation."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authority has opened the way for insurance companies to invest in private equity funds and venture capital funds through the amendment of the guidelines and has also increased the limit for investing in shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the guidelines, it is stipulated that prior approval of the authority is also required to invest in private equity and venture capital funds in infrastructure and productive sectors such as real estate business and water resources, agriculture, tourism, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the new guidelines, life insurance companies, non-life insurance companies and reinsurance companies will now be allowed to invest in private equity funds and venture capital funds approved to do business by the Securities Board of Nepal in accordance with the Specialized Investment Fund Regulations. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Companies can invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total investment in such funds. Similarly, arrangements has been made so that only up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent can be invested in one particular fund. The authority has not allowed micro insurance companies to invest in such funds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Securities Board of Nepal has been giving approval for the operation of private equity and venture capital funds according to the 'Specialized Investment Fund Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2075</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. So far, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies have received permission to operate such funds. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prior to this, Nepal Rastra Bank has also opened the way for banks and financial institutions to invest in private equity and venture capital funds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the NIA has increased the limit of the amount that small insurance companies can invest in shares of life insurance companies, non-life insurance companies and reinsurance companies. According to the revised guidelines, the micro insurance companies will now be allowed to invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total investment in shares of insurance companies. Previously, there was a provision that such companies could only invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, insurance companies are allowed to invest in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> areas specified by the guidelines. However, the investment of companies is focused on term deposits of banks and financial institutions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority's data, as of mid-October of the current fiscal year, life insurance companies have invested a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and non-life insurance companies have invested Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60 </span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion in various sectors, mostly term deposits of BFIs. Out of that, life insurance companies have invested </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">77 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of their accumulated funds and non-life insurance have invested</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> 79 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent in fixed deposits of banks and financial institutions. Among fixed deposits, the largest investment is in commercial banks. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the insurance companies complained that they were not able to diversify their investments, the then Insurance Board of Nepal amended the investment guidelines five years ago, opening the way for companies to invest in infrastructure and productive sectors such as real estate business and water resources, agriculture, tourism, in addition to fixed deposits and shares. However, even after five</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">years of changes in the guidelines, the investment of insurance companies in the new sectors is negligible.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19651', 'image' => '20240108013150_INSURANCE-COVERAGE.jpg', 'article_date' => '2024-01-08 13:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19921', 'article_category_id' => '1', 'title' => 'EV Woes: Service-Seekers Face Inconvenience due to Delay in Repair of Charging Station ', 'sub_title' => '', 'summary' => 'January 8: Users of electric vehicles are deprived of charging service in one of the major highways of the country as the charging station based at Muglin Bazaar of Ichhakamana rural municipality-5, Chitwan, remains dysfunctional for nearly two months. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: Users of electric vehicles are deprived of charging service in one of the major highways of the country as the charging station based at Muglin Bazaar of Ichhakamana rural municipality-5, Chitwan, remains dysfunctional for nearly two months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charging nozzle of the charging station has reportedly broken and two DC chargers are dysfunctional less than a year since the station was installed. Only one AC charger is functioning at present. It takes long time to charge vehicles using the AC charger. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhruba Gurung of Gorkha who came to charge his car complained that service-seekers have been facing problem as the charging station is yet to be repaired. He said that one has to wait for hours to charge vehicles using AC charger. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The vehicle used to be fully charged in one hour when the charging station was functioning. Now, one has to wait for 2-3 hours to fully charge the car," he expressed his dismay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He complained that although the government has emphasized on using electric vehicles, it has not paid attention to constructing additional charging stations and repairing the dysfunctional ones in time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, people have to wait in queue for many hours to charge their vehicles since there are not enough charging stations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shiva Adhikari, project manager of Digo, the company which is responsible for constructing the charging station, said that the problem is due to the broken charging nozzle and they have already ordered for the required spare parts that need to be changed. He added that the equipment would be arriving in a day or two. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Adhikari said that the repair works would be carried out in a day or two by dispatching a technical team. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Adhikari said 62 charging stations have been installed throughout the country in collaboration with the Nepal Electricity Authority (NEA). He stated that problems have been detected in 20 of them. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19648', 'image' => '20240108120436_20231015032757_NEA Launches 51 Rapid Charging Stations.jpg', 'article_date' => '2024-01-08 12:03:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19920', 'article_category_id' => '1', 'title' => 'Advertising Association of Nepal gets a New Executive Committee', 'sub_title' => '', 'summary' => 'January 8: Nepal Advertising Association has elected a 14-member executive committee under the leadership of Sudip Thapa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: Nepal Advertising Association has elected a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">member executive committee under the leadership of Sudip Thapa.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th annual general meeting of the association on Sunday elected the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th central working committee under the leadership of Thapa, in which other officer bearers except the treasurer were elected unopposed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The treasurer and members were decided through voting.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ujay Shakya was elected as the first vice president of the association unopposed, Pankajlal Pradhan as the second vice president, Krishna Prasad Ghimire as the general secretary, Santosh Khadka as the secretary and Arunkaji Sthapit as the member, all elected unopposed. Similarly, the AGM elected Sajan Shrestha as the new treasurer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Santosh Silwal Giri, Roshan Regmi, Dipendra Paudel, Bidhan Rajbhandari, Roshan Paudel, Manish Adhikari and Prabhat Rimal were elected as members of the association.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The newly appointed officer bearers and members took the oath of office and secrecy on Sunday itself. The tenure of the executive committee will be of three years.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19647', 'image' => '20240108112812_1704683120.24 agm.jpg', 'article_date' => '2024-01-08 11:27:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The shares market witnessed a transaction of 17,949,562 units of shares, amounting to Rs 6.11 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sonapur Minerals and Oil Limited (SONA) took the lead in turnover, with transactions totaling Rs 21 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Remarkably, eight companies, including Karnali Development Bank (KRBL), Sindhu Bikash Bank (SINDU), and Himalayan Reinsurance Limited (HRL), experienced a 10% gain, hitting the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Dhaulagiri Laghubita Bittiya Sanstha (DLBS) faced the highest loss of 8.19%, closing at a market price of Rs 931 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices, except for Hydropower, Manufacturing, and Processing and Mutual Fund, closed in positive territory. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Development Bank Index saw a robust gain of 5.21%, while Nonlife Insurance experienced a modest 0.60% increase. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hydropower Index suffered the most significant loss at 0.45%, while Manufacturing and Processing incurred a minimal loss of 0.15%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19665', 'image' => '20240109033550_collage (16).jpg', 'article_date' => '2024-01-09 15:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19937', 'article_category_id' => '1', 'title' => 'Cooperative’s Manager, Staff Arrested for Embezzling Rs 1.21 Billion of Depositors ', 'sub_title' => '', 'summary' => 'January 9: Police have arrested the manager and staff of Gokarna-based Kantibhairav Savings and Credit Cooperative Pvt Ltd for embezzling savings of the depositors. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: Police have arrested the manager and staff of Gokarna-based Kantibhairav Savings and Credit Cooperative Pvt Ltd for embezzling savings of the depositors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Metropolitan Police Circle, Bouddha, arrested Chairperson of the Cooperative, Hari Krishna Shrestha of Gokarneshwor municipality-4, former Chairperson and patron, Prem Shrestha, Treasurer Sher Lal Shrestha and Manager Rajendra Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All of them have been kept at Gokarna Police Sector building under the Circle, said Senior Sub-Inspector at the Sector, Rajesh Karki. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Ram Das Shrestha, secretary of the cooperative’s Board of Directors, members Anirudra Shrestha and Radheshyam Shrestha as well as coordinator of the Account Committee, Chandra Prasad Poudel have been absconding. Police have issued arrest warrant in their names. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Proprietors of the cooperative have embezzled Rs 1.21 billion of 7,700 depositors, said chairperson of the taskforce under the Cooperative Victim Struggle Committee, Rajesh Kumar Bista. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">PM instructs Finance Ministry to bring concrete proposal on failing cooperatives </span></strong></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal has instructed the Ministry of Finance to come up with a concrete proposal for the systematic resolution of the problems faced by the depositors of cooperatives, as hundreds of thousands of them have suffered of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During an interaction at the Office of the Prime Minister and Council of Ministers on Monday, the Prime Minister directed to submit an appropriate proposal to take concrete measures to troubleshoot the challenges that cooperatives are facing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Hundreds of thousands of depositors have suffered since the problems of the cooperatives have not been addressed. They are left stranded," the PM said asking the Finance Ministry to come up with a concrete proposal. </span></span></span><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19664', 'image' => '20240109020909_cooperative problematic.jpg', 'article_date' => '2024-01-09 14:08:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19936', 'article_category_id' => '1', 'title' => 'Prime Minister Shows Keen Interest in Budget Ceiling', 'sub_title' => '', 'summary' => 'January 9: The trend of announcing a massive budget without looking at the capacity of the state has made the country’s economic system unstable. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 9: The trend of announcing a massive budget without looking at the capacity of the state has made the country’s economic system unstable. This raises serious questions about the ability of the ruling government and administration to prepare the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has not been able to implement the budget effectively due to the practice of forming a government by forging alliances with various parties and announcing a large budget to fulfill the interests of those parties.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The incumbent government is also formed through a coalition of different parties. Taking the minimum common program issued by the government into consideration, Finance Minister Dr Prakash Sharan Mahat announced the budget for the current fiscal year (FY) on May 29. But the government has failed to implement big programmes included in the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For the current year, the government had announced a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, but has been able to spend only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">355</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent) so far. This clearly shows that the budget expenditure is very poor in the first six months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the budget has provisions to scrap unnecessary bodies and to create employment opportunities, they have not been implemented.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The current expenditure has increase significantly due to the delay in scrapping the government bodies that were supposed to be scrapped as per the budget announcement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the unemployment problem in the country is getting worse due to the non-implementation of employment programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, projects worth billions of rupees are being run at a snail’s pace, while the contractors have not yet received huge amount of payment that has remained due since last year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had announced a capital budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion, but has spent only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion so far. From this, it is clear that the pace of development is very slow.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While questions are being raised about the preparation of the budget, Prime Minister Pushpa Kamal Dahal has directed the government officials including the finance minister to make the upcoming budget realistic. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">PM Dahal held discussion about the upcoming budget with Finance Minister Dr Mahat, Vice President of the National Planning Commission Dr Min Bahadur Shrestha, Chief Secretary Baikuntha Aryal and other stakeholders.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has pointed out the need for a separate discussion on the process of setting the budget ceiling, saying that a comprehensive discussion between the ministries is necessary when setting the ceiling of the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has also instructed not to set a budget ceiling haphazardly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"When setting the ceiling, let's not set it based on speculations. Let's also call the ministries and discuss. Let's listen to them," he said. "This is also a democratic process. We also need a clear plan about which level of planning to keep at the center and which in provinces and local levels.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The prime minister has also instructed the Ministry of Finance and the National Planning Commission to prepare policies, programmes and budget so as not to add unnecessary plans, give high priority to old plans that have been pending and focus on a specific strategic plan every year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19663', 'image' => '20240109015651_1683767264.jpg', 'article_date' => '2024-01-09 13:56:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19934', 'article_category_id' => '1', 'title' => 'NEA comes up with Five-Year Installment Facility for Payment of Dedicated and Trunk Line Dues ', 'sub_title' => '', 'summary' => 'January 9: The Nepal Electricity Authority (NEA) has announced a five-year installment facility for the payment of electricity tariff dues related to dedicated feeder and trunk line services. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Nepal Electricity Authority (NEA) has announced a five-year installment facility for the payment of electricity tariff dues related to dedicated feeder and trunk line services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a public notice on Tuesday, the NEA has urged all concerned entities to submit applications for installment facilities at the respective NEA distribution centers within the next 30 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following a decision made during the January 1 meeting of the NEA Board of Directors, industries are now eligible for installment facility to settle their dues associated with the dedicated feeder and trunk line services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA has taken this step in response to the accumulated electricity dues from 61 industries, amounting to Rs 22.24 billion. Consequently, power supply to 25 industries has been disconnected due to the non-payment of the dues. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19661', 'image' => '20240109010201_NEA update.jpg', 'article_date' => '2024-01-09 13:01:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19933', 'article_category_id' => '1', 'title' => 'CNI urges Govt for Legal Reforms to Excel Economy ', 'sub_title' => '', 'summary' => 'January 9: The Confederation of Nepalese Industries (CNI) has submitted a detailed report along with recommendations for the reforms in the legal framework for the country's economic development. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Confederation of Nepalese Industries (CNI) has submitted a detailed report along with recommendations for the reforms in the legal framework for the country's economic development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI said that its President Rajesh Kumar Agrawal submitted the report to Prime Minister Pushpa Kamal Dahal on Monday. The report was also shared with Speaker Devraj Ghimire and Chief Secretary of the government, Dr Baikuntha Aryal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI has recommended amendment to 28 acts and regulations, scrapping of five acts and unveiling three new acts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI has stated that it is essential to reform the laws for making economy vibrant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Agrawal, the report was prepared following intensive research and consultations with legal experts, industrialists, stakeholders, thematic experts and other stakeholders. Comparative study was also conducted by taking references from different countries, CNI stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Agrawal shared that the recommendations are related to Industrial Enterprises Act, 2076; Industrial Enterprise Regulations, 2078; Income Tax Act, 2058; Companies Act, 2063; Forest Act, 2076; Foreign Investment and Technology Transfer Act, 2075 and others. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19660', 'image' => '20240109121554_CNI logo.jpg', 'article_date' => '2024-01-09 12:14:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19932', 'article_category_id' => '1', 'title' => '52 Candidates in the Fray for 19 NA Seats ', 'sub_title' => '', 'summary' => 'January 9: A total of 52 candidates have filed their nomination papers for the 19 National Assembly seats that will fall vacant after the expiry of the terms of the upper house members on March 4. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: A total of 52 candidates have filed their nomination papers for the 19 National Assembly seats that will fall vacant after the expiry of the terms of the upper house members on March 4. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The National Assembly election is scheduled to be held on January 25, thirty-five days before the expiry of the terms of the lawmakers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The nominations were filed on Monday for various categories in the respective election offices of the seven provinces. The 52 candidates who filed their nominations in the seven provinces include 17 for under women's category, six under Dalit category, eight under persons with disabilities or minority communities, and 21 under other groups, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Election Commission, Shaligram Sharma Paudyal, shared that the nomination papers of the candidates were registered at the Office of the Election Officer established in all the seven provinces from 10 am to 3 pm on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Five candidates each have registered their nominations in Koshi and Madhes province, 15 in Bagmati, eight in Gandaki, seven in Lumbini province, and six each in Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the election calendar announced by the EC, complaints against the candidates can be registered on January 9, the nomination papers and complaints received will be reviewed and the list of candidates will be published on January 10 and 11, candidates will able to withdraw their names on January 12 and the final list will be published, and election symbols distributed to the candidates on January 13. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19659', 'image' => '20240109115624_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2024-01-09 11:55:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19930', 'article_category_id' => '1', 'title' => 'New Sub-Variant of COVID-19 Detected in Nepal ', 'sub_title' => '', 'summary' => 'January 9: The Ministry of Health and Population has confirmed the spread of new sub-variant JN.1 of COVID-19 in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 9: The Ministry of Health and Population has confirmed the spread of new sub-variant JN.1 of COVID-19 in Nepal. The new sub-variant of COVID-19 is spreading in some countries in the recent weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the ministry has asked one and all to exercise precautionary measures after the detection of the sub-variant JN.1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry's Spokesperson Dr Prakash Budhathoki told the RSS that seven samples out of 16 collected from different parts of the country from different age groups confirmed the presence of the sub-variant JN.1 of Omicron. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has urged the public to avoid crowds and gathering, maintain physical distance, continue using mask and regularly wash hands with soap and water. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19657', 'image' => '20240109110614_coronaaaaa.jpg', 'article_date' => '2024-01-09 11:05:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19929', 'article_category_id' => '1', 'title' => '5.72 Million Metric Tons of Paddy Harvested', 'sub_title' => '', 'summary' => 'The Ministry of Agriculture and Livestock Development revealed that the country produced 5.72 million metric tons of paddy this year. Compared to the last financial year, the production of paddy increased by 4.33 percent in the current year, according to the ministry.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">January 9: The Ministry of Agriculture and Livestock Development revealed that the country produced 5.72 million metric tons of paddy this year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Compared to the last financial year, the production of paddy increased by 4.33 percent in the current year, according to the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, paddy production this year increased by 5.08 percent compared to the average production of the last four years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, the area of paddy cultivation has decreased even though total output increased.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the ministry, the total area with paddy plantation decreased by 0.61 i.e. 8,800 hectares compared to last year to come down to 1.43 million hectares. This is less by 1.73 per cent compared to the average area of the last four years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Hence, the productivity has increased. "The average productivity of paddy has increased by 4.97 per cent compared to last year and reached 3.98 metric tons per hectare", adds the statement issued by the ministry.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The productivity this year is 6.92 per cent higher than the average productivity of the last four years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of productivity, Koshi province leads with 4.43 metric tons per hectare while it is the lowest in Madhes province with 3.49 metric tons per hectare. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Several factors have contributed to surge of paddy production, including the adoption of developed seeds, a decrease in the impact of diseases and pests, improved fertilizer availability, enhanced use of agricultural tools and technology, and effective seasonal adaptation strategies.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Ministry gathered the paddy crop statistics using satellite images in collaboration with the Ministries of Agriculture across all seven provinces and the International Centre for Integrated Mountain Development (ICIMOD). (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-01-09', 'modified' => '2024-01-09', 'keywords' => '', 'description' => '', 'sortorder' => '19656', 'image' => '20240109055844_collage (6).jpg', 'article_date' => '2024-01-09 05:56:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19928', 'article_category_id' => '1', 'title' => 'NEPSE Posts Gain of 36.57 Points to Close at 2059.49', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index surged by 36.57 points or 1.80%, closing at 2059.49 during the second trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">January 8: The Nepal Stock Exchange (NEPSE) Index surged by 36.57 points or 1.80%, closing at 2059.49 during the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Analysts and investors are optimistic, suggesting that the market may have completed its correction phase and is poised for an upward trend, fueled by excess liquidity in the banking system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, a total of 309 scrips were exchanged through 99,524 transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market turnover amounted to Rs 4.67 billion, involving 13,709,276 units of shares. Remarkably, Sonapur Minerals and Oil Limited (SONA) led the turnover with Rs 21 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Singati Hydro Energy Limited (SHEL), Modi Energy Limited (MEL), Trishuli Jal Vidhyut Company Limited (TVCL), and Muktinath Krishi Company Limited (MKCL) each experienced a 10% increase, hitting the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector performance, all sectors, except for Mutual Funds, showed positive trends.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Life Insurance led the gains with an impressive 3.72%, while Manufacturing and Processing posted a modest increase of 0.56%. Mutual Funds experienced a marginal loss of 0.01% during the trading session.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19655', 'image' => '20240108032733_collage (15).jpg', 'article_date' => '2024-01-08 15:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19926', 'article_category_id' => '1', 'title' => 'Election Commission Publishes Final List of Voters for National Assembly Election', 'sub_title' => ' The List includes 549 Voters from Province Assemblies, 1,498 from Local Levels ', 'summary' => 'January 8: The Election Commission (EC) has released the final list of voters for the upcoming National Assembly election.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: The Election Commission (EC) has released the final list of voters for the upcoming National Assembly election. Issuing a press statement on Sunday, the EC informed that final list of voters have been published at the offices of election officers in all seven provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the EC update, there are a total of 549 voters from all seven province assemblies while 1,498 voters from local levels. However, the total vote weightage (one vote equals to 53 votes) from provinces is 29,097 while that from local level (one vote equals to 53 votes) is 28,462. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Categorically, Koshi Province members contribute 93 votes while 377 voters include chair, vice chairs, mayors and deputy mayors from rural municipalities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, there are a total of 374 voters from Madhes Province including 107 province assembly members and 267 mayors and deputy mayors of metropolis, sub-metropolis and municipalities, and chiefs and deputy chiefs of rural municipalities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Madhes Province, the total weightage of vote from the province assembly members is 5,571 and that of the chairpersons and vice-chairpersons of rural municipalities and mayors and deputy mayors is 5,073. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Bagmati Province, the number of voters is 347 including 110 province assembly members and the vote weightage in Bagmati Province is 10,333. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Election Commission stated that the number of voters is 230 in Gandaki Province and the total weightage of votes is 6,410. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, in Lumbini Province, there are a total of 305 voters including 87 voters from province assembly and 218 voters from rural municipality including chairpersons and vice-chairpersons. In the province, the vote weightage is 8,753 including 4,611 of province assembly members and 4,142 of rural municipality chairpersons and vice-chairpersons, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Karnali Province, the number of province assembly members is 40 while there are 156 rural municipality chairpersons and vice-chairpersons. The total weightage of vote in the province is 5,084 including 2,120 of province assembly and 2,120 of rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there are 228 voters in Sudurpaschim Province, including 52 province assembly members and 173 rural municipality chairpersons and vice-chairpersons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among them, the total weightage of vote in the province is 6,100 including 2,756 of province assembly members and 3,344 of rural municipality chairpersons and vice-chairpersons, the EC added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19654', 'image' => '20240108022303_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2024-01-08 14:21:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19925', 'article_category_id' => '1', 'title' => 'Government Fails to Cut Expenditure in Six Months of Current FY', 'sub_title' => '', 'summary' => 'January 8: The government had announced massive spending cuts but has failed to take such measures.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: The government had announced massive spending cuts but has failed to take such measures.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is almost six months since the implementation of budget started in the current fiscal year but the government has not been able to effectively implement the expenditure reduction measures announced in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Prakash Sharan Mahat had said that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> government institutions will be scrapped and similar institutions will be merged with each other in a bid to cut expenses. Those bodies are still running in the same structure as before. Their employees are getting their salaries and allowances as usual.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Until now, the government has been releasing budget for the current expenses to the agencies that were said to be scrapped. It seems that the announcement regarding the reduction of expenditure made in the budget will not be implemented effectively, just like the announcement of scrapping government boards and establishments in the previous budget which has not been implemented yet. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget on May 29, Finance Minister Mahat had said that all types of incentives, allowances, and over-time allowances will be cancelled. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At that time, experts had pointed out the risk of non-cooperation from the bureaucracy in the implementation of the budget announced by the government due to lack of incentives.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the prime minister and ministers have repeatedly issued directives to the government employees, there has not been satisfactory improvement in the spending of capital budget. As of Saturday, only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">43.35</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion have been spent under the heading of capital expenditure. The government has allocated Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for this year's capital expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is also mentioned in the budget statement that the old and unused vehicles and goods in the government agencies will be auctioned within six months. Even though the six-month period is about to end, such vehicles and goods have not been auctioned. This shows that most of the big programs brought by the government to cut expenditure have not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">High-ranking officials of the Ministry of Finance say that the government has not been able to implement the announcements made in the budget because of the lobbying from the government employees who fear that the facilities that they are enjoying will be curtailed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"There is lobbying from the high-level political leadership not to take away the facilities that the government officials have been enjoying so far, that's why the expenditure reduction plans announced in the budget could not be implemented effectively," said the official. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the fact that the government has not effectively cut down the expenditure, it has already spent Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion have been spent so far under current headings. This amount is spent in administrative expenses including salaries and allowances of employees.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has recently scrapped </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> posts in the Office of the Prime Minister and Council of Ministers just to show that it has cut expenses, but that decision has not yet been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> employees in the Prime Minister's Office alone, including the chief secretary. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the current government's decision to reduce the posts is positive, experts believe that it is necessary to abolish other unnecessary posts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Communications and Information Technology Minister and Government Spokesperson Rekha Sharma said that homework is being done to transfer officials in the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">canceled posts to other ministries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, last week, the Council of Ministers also decided to cut lunch expenses during cabinet meetings. It seems that the prime minister's attention is focused on small publicity work rather than implementing the announcement of major spending cuts. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19653', 'image' => '20240108021736_1683767264.jpg', 'article_date' => '2024-01-08 14:16:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19927', 'article_category_id' => '1', 'title' => 'COVID-19 Detected among India-Returnees ', 'sub_title' => '', 'summary' => 'January 8: Coronavirus infection has been detected among the Nepali nationals returning home from different cities of India. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: Coronavirus infection has been detected among the Nepali nationals returning home from different cities of India. Coronavirus test has been made mandatory at Nepal-India border areas after the new variant of coronavirus (JN.1) was detected in India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Health Desk set up at Gauriphanta checkpoint, Ganesh Saud, told RSS that coronavirus infection was so far detected in 10 people who returned from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have been conducting antigen test among India-returnees and 10 cases of coronavirus were recorded so far," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Saud shared that those found infected with coronavirus have been suggested to stay in home isolation. Hundreds of Nepalis are returning home every day via Gauriphanta checkpoint from different places of India. Samples were collected and sent to Kathmandu to confirm the variant of corona two week ago, but its report has not been received yet, added the Health Desk Chief. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, coronavirus has not been confirmed on Nepalis returning home using Gaddachauki checkpoint of Kanchanpur so far, according to the District Health Office, Kanchanpur. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19652', 'image' => '20240108022815_coronaaaaa.jpg', 'article_date' => '2024-01-08 14:27:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19924', 'article_category_id' => '1', 'title' => 'NIA Increases Scope of Investment of Insurance Companies', 'sub_title' => '', 'summary' => 'January 8: Nepal Insurance Authority has paved the way for life insurance companies, non-life insurance companies and reinsurance companies to invest outside the provisions included in the investment guidelines.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: Nepal Insurance Authority has paved the way for life insurance companies, non-life insurance companies and reinsurance companies to invest outside the provisions included in the investment guidelines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By revising the investment guidelines, the regulatory body has made arrangements for insurance companies to invest beyond what is mentioned in the investment guidelines by taking prior approval from the authority. The insurance companies are also allowed to invest more than the specified percentage.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the Investment Guidelines </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clearly mentions the areas and limits of investment, the revised guidelines of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> has a provision that allows insurance companies to invest in areas other than those mentioned in the guidelines and more than the specified percentage with the prior approval of the authority. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This has opened the way for the officials of the NIA to approve the investment as per the proposal of the insurance companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Experts point to the risk that the funds accumulated in the insurance company may be misused by the new arrangement. "It is good if the provision to increase the limit is used in cases where investment cannot be made as specified in the guidelines," insurance expert Dr Rabindra Ghimire said, adding, "If the investment sinks by giving arbitrary approval, the insurance company itself may be at risk." </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even though the authority has designated the area of investment, he suggested that the insurance companies should have their own risk management strategy and should invest accordingly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, Rajuraman Paudel, the executive director of the NIA, says that the provision was put in place to approve investment in potential areas. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Investments made by insurance companies should be safe," he said, "To ensure that the investment is safe, the authority gives permission to invest in areas other than the specified areas and beyond the limits only after careful observation."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The authority has opened the way for insurance companies to invest in private equity funds and venture capital funds through the amendment of the guidelines and has also increased the limit for investing in shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the guidelines, it is stipulated that prior approval of the authority is also required to invest in private equity and venture capital funds in infrastructure and productive sectors such as real estate business and water resources, agriculture, tourism, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the new guidelines, life insurance companies, non-life insurance companies and reinsurance companies will now be allowed to invest in private equity funds and venture capital funds approved to do business by the Securities Board of Nepal in accordance with the Specialized Investment Fund Regulations. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Companies can invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total investment in such funds. Similarly, arrangements has been made so that only up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent can be invested in one particular fund. The authority has not allowed micro insurance companies to invest in such funds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Securities Board of Nepal has been giving approval for the operation of private equity and venture capital funds according to the 'Specialized Investment Fund Regulations, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2075</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. So far, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> companies have received permission to operate such funds. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prior to this, Nepal Rastra Bank has also opened the way for banks and financial institutions to invest in private equity and venture capital funds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the NIA has increased the limit of the amount that small insurance companies can invest in shares of life insurance companies, non-life insurance companies and reinsurance companies. According to the revised guidelines, the micro insurance companies will now be allowed to invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total investment in shares of insurance companies. Previously, there was a provision that such companies could only invest up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">So far, insurance companies are allowed to invest in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> areas specified by the guidelines. However, the investment of companies is focused on term deposits of banks and financial institutions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority's data, as of mid-October of the current fiscal year, life insurance companies have invested a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">600 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and non-life insurance companies have invested Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60 </span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion in various sectors, mostly term deposits of BFIs. Out of that, life insurance companies have invested </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">77 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of their accumulated funds and non-life insurance have invested</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> 79 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent in fixed deposits of banks and financial institutions. Among fixed deposits, the largest investment is in commercial banks. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the insurance companies complained that they were not able to diversify their investments, the then Insurance Board of Nepal amended the investment guidelines five years ago, opening the way for companies to invest in infrastructure and productive sectors such as real estate business and water resources, agriculture, tourism, in addition to fixed deposits and shares. However, even after five</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">years of changes in the guidelines, the investment of insurance companies in the new sectors is negligible.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19651', 'image' => '20240108013150_INSURANCE-COVERAGE.jpg', 'article_date' => '2024-01-08 13:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19921', 'article_category_id' => '1', 'title' => 'EV Woes: Service-Seekers Face Inconvenience due to Delay in Repair of Charging Station ', 'sub_title' => '', 'summary' => 'January 8: Users of electric vehicles are deprived of charging service in one of the major highways of the country as the charging station based at Muglin Bazaar of Ichhakamana rural municipality-5, Chitwan, remains dysfunctional for nearly two months. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 8: Users of electric vehicles are deprived of charging service in one of the major highways of the country as the charging station based at Muglin Bazaar of Ichhakamana rural municipality-5, Chitwan, remains dysfunctional for nearly two months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charging nozzle of the charging station has reportedly broken and two DC chargers are dysfunctional less than a year since the station was installed. Only one AC charger is functioning at present. It takes long time to charge vehicles using the AC charger. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhruba Gurung of Gorkha who came to charge his car complained that service-seekers have been facing problem as the charging station is yet to be repaired. He said that one has to wait for hours to charge vehicles using AC charger. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The vehicle used to be fully charged in one hour when the charging station was functioning. Now, one has to wait for 2-3 hours to fully charge the car," he expressed his dismay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He complained that although the government has emphasized on using electric vehicles, it has not paid attention to constructing additional charging stations and repairing the dysfunctional ones in time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, people have to wait in queue for many hours to charge their vehicles since there are not enough charging stations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shiva Adhikari, project manager of Digo, the company which is responsible for constructing the charging station, said that the problem is due to the broken charging nozzle and they have already ordered for the required spare parts that need to be changed. He added that the equipment would be arriving in a day or two. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Adhikari said that the repair works would be carried out in a day or two by dispatching a technical team. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Adhikari said 62 charging stations have been installed throughout the country in collaboration with the Nepal Electricity Authority (NEA). He stated that problems have been detected in 20 of them. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19648', 'image' => '20240108120436_20231015032757_NEA Launches 51 Rapid Charging Stations.jpg', 'article_date' => '2024-01-08 12:03:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19920', 'article_category_id' => '1', 'title' => 'Advertising Association of Nepal gets a New Executive Committee', 'sub_title' => '', 'summary' => 'January 8: Nepal Advertising Association has elected a 14-member executive committee under the leadership of Sudip Thapa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">January 8: Nepal Advertising Association has elected a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">member executive committee under the leadership of Sudip Thapa.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th annual general meeting of the association on Sunday elected the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th central working committee under the leadership of Thapa, in which other officer bearers except the treasurer were elected unopposed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The treasurer and members were decided through voting.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ujay Shakya was elected as the first vice president of the association unopposed, Pankajlal Pradhan as the second vice president, Krishna Prasad Ghimire as the general secretary, Santosh Khadka as the secretary and Arunkaji Sthapit as the member, all elected unopposed. Similarly, the AGM elected Sajan Shrestha as the new treasurer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Santosh Silwal Giri, Roshan Regmi, Dipendra Paudel, Bidhan Rajbhandari, Roshan Paudel, Manish Adhikari and Prabhat Rimal were elected as members of the association.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The newly appointed officer bearers and members took the oath of office and secrecy on Sunday itself. The tenure of the executive committee will be of three years.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-01-08', 'modified' => '2024-01-08', 'keywords' => '', 'description' => '', 'sortorder' => '19647', 'image' => '20240108112812_1704683120.24 agm.jpg', 'article_date' => '2024-01-08 11:27:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
