December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower…
December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower…
December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis.…
Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16,…
Coca-Cola Beverages in Nepal has unveiled its "Coke Buddy" app, introducing a seamless and efficient ordering experience for…
December 8: Cases of banking offenses have increased sharply in recent months. According to the Kathmandu District Public Prosecutor's Office, the police have forwarded 2,651 cases of banking offense to the Public Prosecutor's Office from June 27 to November…
December 8: The Nepal Electricity Authority (NEA) exported electricity worth Rs 15.4 billion to India during this year’s monsoon.…
December 8: There has been a shortage of potatoes and onions in the market due to the imposition of Value Added Tax (VAT) by the…
December 8: The Nepal Rastra Bank (NRB) has unveiled the first quarterly review report of the monetary policy for the current fiscal…
December 8: Eurozone banks that portray themselves as more conscious about environmental issues lend more than others to polluting industries, a group of European Central Bank economists said on…
December 8: The government has formed a high-level committee to investigate the issue of the sale of share of Ncell, a private telecommunications service provider based in…
December 8: The Patan High Court has issued an interim order in the name of the Company Registrar's Office not to register the transfer of ownership of the shares of Ncell, a private telecommunication service provider company operating in…
In the aftermath of the November 3 earthquake with its epicenter at at Ramidanda of Jajarkot, Aathbiskot Municipality in Rukum Paschim district has identified nearly 10,000 individuals who require support for the construction of temporary…
December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive…
In a trilateral agreement, KNP Japan Private Limited, a multinational paint manufacturer, is set to establish a Post Natal Care (PNC) ward at Narayani Hospital in…
The Nepal Stock Exchange (NEPSE) observed a slight increase, closing at 1852.77 with a gain of 11.73 points or 0.63% on the last trading day of the week on…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (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' => '19688', 'article_category_id' => '1', 'title' => 'World Bank and ADB Join Forces for Sustainable Development of Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The two development partners of Nepal recently signed a memorandum of understanding (MOU) stipulating cooperation between them for an initial period of five years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank’s Vice President for South Asia Martin Raiser and ADB’s Vice-President for Sectors and Themes Fatima Yasmin signed the agreement on the sidelines of COP28 on December 6, reads a statement issued by WB.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The full potential of Nepal’s enormous hydropower resources cannot be realized without close partnership between the Nepalese government, development partners and the private sector,” the statement quoted Martin Raiser as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“With this MOU, the ADB and the World Bank are laying the foundations for closer collaboration in financing and policy advice in Nepal’s hydropower sector, with the aim to support the country’s green, sustainable and inclusive development for decades to come.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Meanwhile, Yasmin said this agreement between ADB and the World Bank is a significant step in strengthening Nepal's energy security amid rising demands from population growth and urbanization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“It also fosters power trade with neighboring countries, promoting regional cooperation, economic growth, and green and inclusive development," said Yasmin, adding, "ADB is committed to promoting clean energy solutions that align with climate action goals. Our commitment goes beyond generating power; it's also about creating positive impacts on communities, livelihoods, and the environment and contributing to a more sustainable future for all.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the World Bank, the MOU specifically targets three critical areas for collaboration: enhancing country-level collaboration, strengthening co-financing, and boosting joint action on climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The pilot approach between the two multilateral development banks provides opportunities for collaboration in knowledge and experience sharing to ensure common understanding of the hydropower sector in Nepal, joint analytical studies, and consultation in support of the development of the hydropower sector, added the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the MOU, the World Bank and Asian Development Bank will also work together on strengthening the institutional capacity of Nepal’s executing and implementing agencies in the development of large hydropower projects, and the preparation and financing of projects in the energy sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank added that this is the first MOU signed between ADB and the World Bank following the joint statement on strengthening collaboration for greater impact issued by the heads of multilateral development banks at the World Bank-IMF Annual Meetings in Marrakech in October, 2023.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19416', 'image' => '20231210112715_GAqRgoPbAAAnvbE.jpg', 'article_date' => '2023-12-10 11:26:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19686', 'article_category_id' => '1', 'title' => 'Tea Industry in Crisis: Stakeholders ', 'sub_title' => '', 'summary' => 'December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. They raised this issue at a time when the National Tea and Coffee Development Board (NTCDB) is targeting to bring in foreign currency twice as much in the current fiscal year compared to the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Harka Tamang, a tea farmer, said the government does not list tea as agriculture product and imposes electricity tariff on par with an industry and this is affecting irrigation. Furthermore the absence of an auction market is obstructing access to the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Central Vice President of All Nepal Trade Union Bhupal Sapkota blames the NTCDB of not playing an effective role in solving the problems of tea industrialists, businessmen, farmers and workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Central President of Nepal Tea Plantation Workers' Union, Deepak Tamang, accused the state of being apathetic in solving the problems of the tea sector. He complained that the board has not played a coordinating role in implementing the law while the workers of some plantations are not even getting wages as per the Labour Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Executive Director of the Board, Bishnu Prasad Bhattarai, pledged to play an effective role in solving the existing problems in the tea sector and properly address all the problems raised by the stakeholders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the board, the country earned Rs 3.80 billion in foreign exchange through tea export during the last fiscal year. The main markets of tea produced in Nepal include India, China, Sri Lanka, Russia, and the Netherlands. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tea plantation is done in 20,237 hectares of land in Nepal with 99 percent of it produced in Koshi province. Altogether 30 orthodox tea industries and 38 CTC tea industries employ 70,000 people. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19414', 'image' => '20231210103048_20230207042911_Tea.jpg', 'article_date' => '2023-12-10 10:29:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19685', 'article_category_id' => '1', 'title' => 'Rara Welcomes over 4,500 Tourists in Four Months', 'sub_title' => '', 'summary' => 'Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The latest figures provided by the Rara National Park reveal that among the total 4,611 tourists, 4,490 were domestic travelers, while 96 were foreign tourists, with 24 representing SAARC countries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Jay Hari Dhital, the Information Officer at Rara National Park, said that during the festive Dashain-Tihar vacation, Rara witnessed a significant surge in domestic tourist arrivals, contributing to a revenue of Rs 1.2 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In comparison, the entire year of 2079 BS saw a total of 11,000 domestic tourists, including 26 from SAARC nations and 183 other foreigners visiting Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rara National Park has implemented an entry fee system, charging Rs 100 per domestic tourist, Rs 1,500 for tourists from SAARC countries, and Rs 3,000 for other foreign visitors, according to Dhimal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 75 percent of tourists reached Rara via air, while the remaining 25 percent opted for the land route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">National park officials believe that Rara will lure more tourists if reliable and quality roads are made available. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19413', 'image' => '20231210065811_collage (5).jpg', 'article_date' => '2023-12-10 06:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19684', 'article_category_id' => '1', 'title' => 'Coca-Cola Beverages Nepal Launches Coke Buddy App', 'sub_title' => '', 'summary' => 'Coca-Cola Beverages in Nepal has unveiled its "Coke Buddy" app, introducing a seamless and efficient ordering experience for retailers.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 8: Coca-Cola Beverages in Nepal has unveiled its "Coke Buddy" app, introducing a seamless and efficient ordering experience for retailers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This innovative mobile application is designed to transform the distribution of Coca-Cola's extensive beverage portfolio, enabling retailers to place orders quickly and effortlessly through distributors, anytime and anywhere.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Coke Buddy app represents a significant digital leap, connecting 256 distributors and 156,000 outlets across Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Its primary goal is to enhance communication and logistics within Coca-Cola Beverages Nepal, establishing real-time connectivity between distributors and outlets.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> This digital solution is poised to optimize supply chain management, enhance inventory visibility, and ensure a smooth experience for both distributors and retailers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Deepak Nath Senthil, the Managing Director of Bottlers Nepal Limited, expressed the app's significance, stating, "Our Coke Buddy App allows distributors and retailers/outlets to connect and place orders with minimal effort, anywhere."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Key features of the Coke Buddy App include the ability to place orders at any time and from any location, one-minute ordering for swift transactions, real-time order management, inventory tracking, and support for promotions and marketing initiatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As prominent Fast-Moving Consumer Goods (FMCG) entities in Nepal, Bottlers Nepal Limited and Bottlers Nepal Terai Limited are spearheading innovation to simplify business processes for all partners across the value chain. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19412', 'image' => '20231208044411_collage (4).jpg', 'article_date' => '2023-12-08 16:42:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19683', 'article_category_id' => '1', 'title' => 'Why is Banking Offense Increasing? ', 'sub_title' => '', 'summary' => 'December 8: Cases of banking offenses have increased sharply in recent months. According to the Kathmandu District Public Prosecutor's Office, the police have forwarded 2,651 cases of banking offense to the Public Prosecutor's Office from June 27 to November 16.', '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"">December 8: Cases of banking offenses have increased sharply in recent months. According to the Kathmandu District Public Prosecutor's Office, the police have forwarded </span><span style="font-family:"Arial Unicode MS","sans-serif"">2,651</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">cases of banking offense to the Public Prosecutor's Office from June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7 to November </span><span style="font-family:"Arial Unicode MS","sans-serif"">16</span><span style="font-family:"Arial","sans-serif"">.</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 data shows that more than </span><span style="font-family:"Arial Unicode MS","sans-serif"">20</span><span style="font-family:"Arial","sans-serif""> complaints are filed daily seeking justice in banking offence cases. </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"">Government employees expect more cases to be filed in coming days as the figures of last month were less than anticipated due to lots of public holidays between June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7 to November </span><span style="font-family:"Arial Unicode MS","sans-serif"">16</span><span style="font-family:"Arial","sans-serif"">.</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 situation of banking offense seems alarming if the figures from across the country are taken into consideration.</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"">Concerned officials say that even though cases of banking offense started appearing </span><span style="font-family:"Arial Unicode MS","sans-serif"">8</span><span style="font-family:"Arial","sans-serif""> to </span><span style="font-family:"Arial Unicode MS","sans-serif"">10</span><span style="font-family:"Arial","sans-serif""> years ago, they started to increase from the fiscal year </span><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span><span style="font-family:"Arial","sans-serif""> and have peaked recently.</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"">On June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7, the government made an arrangement allowing even the district attorney's office to investigate and prosecute individuals in cases of banking offense. Before that, commercial benches were appointed in some high courts for looking after such cases.</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 an employee of the Kathmandu District Public Prosecutor's Office, employees are fully engaged in work as the number of complaints related to banking offenses has been increasing. </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"">"We have lots of files to go through but the number of employees is very small," said the official requesting not to be named. </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"">He complained that the workload of the Kathmandu District Public Prosecutor's office has increased since June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7, but the staff has not increased. </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 work load has increased by </span><span style="font-family:"Arial Unicode MS","sans-serif"">30-40</span><span style="font-family:"Arial","sans-serif""> percent but the number of government lawyers in the office is the same as it was before (</span><span style="font-family:"Arial Unicode MS","sans-serif"">35</span><span style="font-family:"Arial","sans-serif""> people)."</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 complaint of banking offense is registered, the police sends it to the public prosecutor's office for its opinion. Police handles the cases based on the opinion of the public prosecutor's office.</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"">Most of the complaints are related to cheque bounce</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"">Government officials say that most of the people who come to the public prosecutor's office complain of cheque bounce. In the first four months of the current fiscal year, cases of cheque bounce worth about Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">3</span><span style="font-family:"Arial","sans-serif""> billion have been registered at the Kathmandu District Police Range. During this period, the police have arrested </span><span style="font-family:"Arial Unicode MS","sans-serif"">612</span><span style="font-family:"Arial","sans-serif""> people including </span><span style="font-family:"Arial Unicode MS","sans-serif"">164</span><span style="font-family:"Arial","sans-serif""> women on charges of cheque bounce. </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"">During the last fiscal year, </span><span style="font-family:"Arial Unicode MS","sans-serif"">2,340</span><span style="font-family:"Arial","sans-serif""> people were arrested on charges of cheque bounce. It is mentioned in the police data that cheques worth Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">47</span><span style="font-family:"Arial","sans-serif"">.</span><span style="font-family:"Arial Unicode MS","sans-serif"">5</span><span style="font-family:"Arial","sans-serif""> billion were bounced last year.</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 last fiscal year, more than </span><span style="font-family:"Arial Unicode MS","sans-serif"">7,000</span><span style="font-family:"Arial","sans-serif""> complaints of banking offenses were registered in District Police Range Kathmandu alone. </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 police submits its report, the public prosecutor's office studies and decides whether to file a case in court or not.</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 increase in cheque bounce cases, the government has introduced a bill to amend the Banking Offenses and Punishment Act, </span><span style="font-family:"Arial Unicode MS","sans-serif"">2064</span><span style="font-family:"Arial","sans-serif""> with provisions to increase the punishment for the guilty. </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 bill is currently pending in the House of Representatives. Noting that the increase in the number of banking offenses has raised serious concerns, the concerned authorities have suggested that a deep investigation should be conducted into why this is happening. </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"">"Is it because of the development of a tendency to enjoy cheating one another or because of increased financial problems?" said an officer of the Kathmandu Police Range, adding, "People who are considered to be affluent in the society have also been convicted of the crime of banking offences. A detailed study and research is needed to find out why this is happening.”</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"">What is a banking offense?</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"">Crimes against banking and financial system are banking offense. There is a universal practice of treating banking offenses as a crime because it is essential to increase public confidence in the banking and financial system, protect the rights and interests of depositors, ensure quality services of banks and financial institutions and maintain financial stability.</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"">What is a cheque bounce?</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"">A cheque presented in a bank is considered bounced if a person issuing the cheque to someone does it knowing that there is not enough money in the bank account, or if the bank deposit is insufficient. The person who received the cheque must file a case in court within six months of the cheque being bounced. If the claim is proven, there is a provision in the Banking Offenses Act, 2064, that the court can impose fines accordingly.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19411', 'image' => '20231208033218_banking-offence -800.jpg', 'article_date' => '2023-12-08 15:31:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19682', 'article_category_id' => '1', 'title' => 'NEA Sells Electricity worth Rs 15.4 Billion to India during this Monsoon', 'sub_title' => '', 'summary' => 'December 8: The Nepal Electricity Authority (NEA) exported electricity worth Rs 15.4 billion to India during this year’s monsoon. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: The Nepal Electricity Authority (NEA) exported electricity worth Rs 15.4 billion to India during this year’s monsoon. As per the agreement, the NEA started exporting surplus electricity to India from June 1, 2023. Accordingly, the NEA sold over 1.7 billion units of electricity worth Rs 15.4 billion to India between June 1 and December 6, 2023. A maximum of 700 megawatts of electricity was sold on a daily basis at Rs 8.77 per unit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, following the decrease in the production of electricity as a result of the decrease in the water flow in the rivers in the dry season, the demand for internal consumption has increased resulting in the commencement of the import of power from the Indian market. So, the export will come to a halt from tonight, the NEA said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The import of electricity from India has started as the domestic production is not enough to meet the demand at home, said NEA Executive Director Kulman Ghising, adding that the current daily demand for power is a maximum of 1700 megawatts across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Now, the production and demand are at the equal level. We are operating our semi-reservoir-based power houses during the peak hours in the evening and morning after filling them in the noon and night," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The import of electricity during the peak hours is costlier, and it is relatively cheap during noon and night. So, electricity will be purchased outside the peak hours." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Ghising, the export will resume from the second week of Baisakh (last week of April, 2024). </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"">“This year, around 900 megawatts electricity is being added to the national grid. Similarly, next year, power worth approximately Rs 25 billion will be exported. High-powered transmission lines are being constructed for improving the transmission of electricity between the two countries. On the other hand, hydropower projects are being built within the country. In this context, a climate is being created wherein electricity worth around Rs 100 billion will be exported in the next five years." </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19410', 'image' => '20231208030316_elec.jpg', 'article_date' => '2023-12-08 15:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19681', 'article_category_id' => '1', 'title' => 'Shortage of Potatoes and Onions as Traders Protest against VAT', 'sub_title' => '', 'summary' => 'December 8: There has been a shortage of potatoes and onions in the market due to the imposition of Value Added Tax (VAT) by the government.', '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"">December 8: There has been a shortage of potatoes and onions in the market due to the imposition of Value Added Tax (VAT) by the government.</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 price of these essential food items was already high and the government imposed VAT on top of it.</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 businessmen accused the government of imposing the VAT with mala fide intentions and stopped importing potatoes and onions. As a result, the market has been reeling under the shortage of potatoes and onions.</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"">Businessmen, who had partially reduced the supply of potatoes and onions for four days, completely stopped their business since Wednesday saying that they cannot do business due to the 'irrational decision of the government'. As the businessmen halted their business, it has become difficult to find potatoes and onions in the market.</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"">General Secretary of the Potato and Onion Import Export and Wholesalers Association Prakash Gajurel says that the Finance Minister deceived the public by saying that the government decided to impose VAT only on imported potatoes and onions. After the government made a provision to impose VAT on potatoes and onions in current fiscal year, the businessmen met the finance minister and requested him to waive VAT. At that time, the finance minister had assured that VAT would not be levied on potatoes and onions produced in the country.</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 Gajurel, the government has now started imposing VAT even on potatoes and onions produced by the local farmers. </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"">"That's why we reached to the conclusion that potatoes and onions cannot be traded from now on and stopped the business," he told New Business Age. </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"">“We don’t use VAT bill while purchasing potatoes and onions from the local farmers but the government seeks VAT bill from us. When this happens, our income appears higher than the real income and it increases our income tax obligation. Consumers also have to pay higher prices,” he added.</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 association has alleged that the government is trying to extort money from traders in the name of VAT.</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"">Meanwhile, the Kalimati Fruits and Vegetables Market Development Committee has removed potatoes and onions from its daily price list. Binay Shrestha, information officer of the committee, informed that due to the problem of VAT, traders have now stopped bringing potatoes and onions to Kalimati. According to him, after the traders did not bring potatoes and onions the committee decided to remove those items from the list.</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 traders' strike, potatoes and onions have stopped entering Kalimati and other big vegetable markets since the past few days. According to the data of the committee, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of onion and about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of potatoes used to be imported in Kalimati per day.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19409', 'image' => '20231208015857_20230123021027_onion.jpg', 'article_date' => '2023-12-08 13:58:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19680', 'article_category_id' => '1', 'title' => 'NRB Unveils First Quarterly Review of Monetary Policy ', 'sub_title' => '', 'summary' => 'December 8: The Nepal Rastra Bank (NRB) has unveiled the first quarterly review report of the monetary policy for the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: The Nepal Rastra Bank (NRB) has unveiled the first quarterly review report of the monetary policy for the current fiscal year. Following the release of the review report, it was endorsed by a meeting of the NRB Board of Directors on Friday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Presenting an analysis of various factors influencing the prevailing inflation, the NRB, through the review, has reduced the bank rates from 7.5 percent to 7 percent, considering the current status of the Balance of Payment and the growth rate of bank loans to the private sector. Similarly, policy rates have been maintained at 5.5 percent against the previous rate of 6.5 percent. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The provisions regarding mandatory cash reserve ratio and statutory liquidity ratio have remained unchanged. As for the provision of counting debentures issued by banks and financial institutions, the NRB has decided to count them as 50 percent resource until the end of the current fiscal year. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19408', 'image' => '20231208010709_NRBnew.jpg', 'article_date' => '2023-12-08 13:06:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19679', 'article_category_id' => '1', 'title' => ''Climate Conscious' Banks Lend More to Polluters: ECB', 'sub_title' => '', 'summary' => 'December 8: Eurozone banks that portray themselves as more conscious about environmental issues lend more than others to polluting industries, a group of European Central Bank economists said on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 8: Eurozone banks that portray themselves as more conscious about environmental issues lend more than others to polluting industries, a group of European Central Bank economists said on Wednesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Banks have a key role in financing the green transition, and their lending practices and environmental standards are under growing scrutiny.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The four ECB economists looked at investor reports and releases from major banks in the single currency area over the period from 2014 to 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Their research highlighted a "discrepancy about how banks talk about environmental intentions, and how they lend," they said in a blog post, released to coincide with the COP28 climate talks in Dubai.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It found that banks with high levels of "environmental disclosures" tend to be specialised in extending credit to so-called "brown industries" -- those that are highly polluting.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This fits in with the notion that lenders with greater exposure to polluting industries are under greater pressure to disclose environmental strategies and plans for decarbonisation, they said in the blog.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But they also found that firms with large carbon footprints that obtain loans from such banks do not ultimately decrease their emissions or commit to voluntary emission targets.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition, lenders who portray themselves as more climate friendly also appeared reluctant to lend to young firms in polluting sectors -- precisely the sort of companies that could drive innovation in clean technologies, the economists said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a situation had arisen because banks were "reluctant to disrupt established lending relationships with larger carbon footprint borrowers," they said. -- AFP/RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19407', 'image' => '20231208121314_Banks - Copy.jpg', 'article_date' => '2023-12-08 12:12:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19678', 'article_category_id' => '1', 'title' => 'Govt Forms High-Level Committee to Probe Ncell Share Sale Issue ', 'sub_title' => '', 'summary' => 'December 8: The government has formed a high-level committee to investigate the issue of the sale of share of Ncell, a private telecommunications service provider based 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"">December 8: The government has formed a high-level committee to investigate the issue of the sale of share of Ncell, a private telecommunications service provider based in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Thursday constituted the five-member committee headed by former Auditor General Tankamani Sharma. The committee has been assigned to submit its report to the government within a month, according to Minister for Communications and Information Technology, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government secretary Phanindra Gautam, Finance Ministry's joint-secretary Ritesh Kumar Shakya, joint secretary at the Ministry of Communications and Information Technology, Baburaj Bhandari, and ICAN President Sujan Kumar Kafle are the members of the probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting has appointed Rudra Prasad Gautam as the Chair of Drinking Water and Tariff Fixation Commission while Yashoda Karki and Kulbhushan Sharma have been appointed as members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the meeting has formed talks team under the convenorship of Finance Ministry's joint secretary to negotiate with the proposal regarding the World Bank assistance for the 'Provincial and Local Road Improvement Programme- first phase'. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19406', 'image' => '20231208113407_ncell.jpg', 'article_date' => '2023-12-08 11:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19677', 'article_category_id' => '1', 'title' => 'High Court Orders not to Recognize Sale of Ncell Shares ', 'sub_title' => '', 'summary' => 'December 8: The Patan High Court has issued an interim order in the name of the Company Registrar's Office not to register the transfer of ownership of the shares of Ncell, a private telecommunication service provider company operating 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"">December 8: The Patan High Court has issued an interim order in the name of the Company Registrar's Office not to register the transfer of ownership of the shares of Ncell, a private telecommunication service provider company operating in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of High Court Judge Purushottam Prasad Dhakal handed down the order on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the court has summoned both parties for a hearing on the dispute on December 11. Following the hearing, the court will decide whether to continue the interim order or issue another order. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malaysian company Axiata reportedly sold 80 percent of its shares in Ncell to Spectralite UK Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The order comes in response to a writ petition filed at the High Court by Gokul Bahadur Rokaya, demanding that the transaction of shares purchase and sale not be recognized. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19405', 'image' => '20231208101216_orders.jpg', 'article_date' => '2023-12-08 10:11:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19676', 'article_category_id' => '1', 'title' => '10,000 Beneficiaries Confirmed for Temporary Housing in Aathbiskot', 'sub_title' => '', 'summary' => 'In the aftermath of the November 3 earthquake with its epicenter at at Ramidanda of Jajarkot, Aathbiskot Municipality in Rukum Paschim district has identified nearly 10,000 individuals who require support for the construction of temporary housing.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 8: In the aftermath of the November 3 earthquake with its epicenter at at Ramidanda of Jajarkot, Aathbiskot Municipality in Rukum Paschim district has identified nearly 10,000 individuals who require support for the construction of temporary housing.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The municipality's Acting Chief Administrative Officer, Maniraj Shah, said data collected from all 14 wards of the municipality reveals that 9,962 individuals are in need of assistance following the seismic event. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These confirmed beneficiaries will receive financial support to facilitate the construction of temporary shelters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Previously, 4,500 individuals from the municipality had already received Rs 25,000 each to aid in the construction of their temporary dwellings. Acting on the recent data, the remaining 5,462 beneficiaries are now slated to receive the first tranche of financial aid.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite the financial assistance, the municipality currently lacks records detailing the number of temporary houses constructed since the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While some temporary residences have been completed, a significant portion of quake survivors continues to live under tarpaulins.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mayor Rabilal KC assured ongoing efforts to ensure that all those affected by the earthquake will be accommodated in temporary housing by mid-December. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19404', 'image' => '20231208061706_collage (4).jpg', 'article_date' => '2023-12-08 06:15:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19675', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank announces ‘Enhanced Parental Leave Benefits’ for its Employees', 'sub_title' => '', 'summary' => 'December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Thursday, the bank said that its staff are eligible to avail a minimum of 20 weeks (140 calendar days) of paid Parental Leave – irrespective of gender, relationship status, or how a child comes to permanently join a family (ie adoption). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SCBNL claimed that it is the first bank in the country to introduce such benefits for all its employees, aimed at levelling the playing field by allowing them the ability to partake equally in caregiving responsibilities for their children. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Accordingly, maternity, paternity, and adoption leave benefits (jointly referred to as ‘Parental Leave’) will be 140 calendar days,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajan Udas, head of Human Resources at Standard Chartered Bank Nepal Limited (SCBNL) said, “Welcoming a child into a family is a momentous occasion and the bank wants to support colleagues through this key life event so that they can effectively balance both personal and professional priorities. We believe benefits such as this help address prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities. This will positively impact families’ financial wellbeing and create a more inclusive workplace that supports everyone’s family planning choices.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19403', 'image' => '20231207044116_parental-leave-slide1.jpg', 'article_date' => '2023-12-07 16:40:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19674', 'article_category_id' => '1', 'title' => 'KNP Japan Pvt. Limited to Establish PNC Ward at Narayani Hospital', 'sub_title' => '', 'summary' => 'In a trilateral agreement, KNP Japan Private Limited, a multinational paint manufacturer, is set to establish a Post Natal Care (PNC) ward at Narayani Hospital in Birgunj.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 7: In a trilateral agreement, KNP Japan Private Limited, a multinational paint manufacturer, is set to establish a Post Natal Care (PNC) ward at Narayani Hospital in Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The hospital's Medical Superintendent, Dr. Chittaranjan Sah, said that KNP Japan Private Limited had agreed to establish post-natal care ward at the hospital with the Birgunj Metropolis’ initiative.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Arvind Lal Karn, the executive officer for the metropolis, Dr. Sah representing the hospital, and Manoj Mishra, the Country Head of KNP, signed the agreement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mayor Rajesh Man Singh praised the company's contribution and urged further collaboration, highlighting KNP's support for community school improvements in Birgunj. He emphasized the metropolis’ prioritization on health and education.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Sah expressed confidence that the proposed PNC ward would be helpful in reducing maternal mortality. With the establishment of this ward, mothers discharged after childbirth can now undergo postnatal care within the hospital premises for at least one day, allowing for close monitoring.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ashok Kumar Baidya, the director of KNP, stated that the company had agreed to establish unit as part of its corporate social responsibility. The post-natal unit is estimated to cost Rs 4 million and will be completed within one and a half months. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19402', 'image' => '20231207042646_collage (3).jpg', 'article_date' => '2023-12-07 16:10:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19673', 'article_category_id' => '1', 'title' => 'NEPSE Records 11.73-Point Surge, Closing at 1852.77', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) observed a slight increase, closing at 1852.77 with a gain of 11.73 points or 0.63% on the last trading day of the week on Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 7: The Nepal Stock Exchange (NEPSE) observed a slight increase, closing at 1852.77 with a gain of 11.73 points or 0.63% on the last trading day of the week on Thursday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market analysts and investors are expressing a cautious outlook, suggesting that the stock market might remain in a sideways trend for the next few months.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They assert that a significant upward movement is unlikely unless the Nepal Rastra Bank revises its stringent policies currently imposed on the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the today's trading session, a total of 292 scrips were exchanged through 53,146 transactions, involving 9,505,608 traded shares, with a turnover of Rs 2.79 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Reinsurance Company Limited Promoter Share (NRICP) recorded the highest turnover, amounting to Rs 86 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Trishuli Jal Vidhyut Company Limited (TVCL) experienced the most substantial gain of 10.00%, triggering a positive circuit for the day. Conversely, Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) incurred the highest loss at 7.81%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed positively except for the Trading Index. Non-Life Insurance led the gainers with an increase of 2.11%, followed by HydroPower Index. Others Index recorded the least gain at 0.12%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Sensitive Index witnessed a rise of 0.45%, while the Float Index and Sensitive Float Index posted increases of 0.67% and 0.43%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19401', 'image' => '20231207034311_collage (2).jpg', 'article_date' => '2023-12-07 15:41:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $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' => '19688', 'article_category_id' => '1', 'title' => 'World Bank and ADB Join Forces for Sustainable Development of Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The two development partners of Nepal recently signed a memorandum of understanding (MOU) stipulating cooperation between them for an initial period of five years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank’s Vice President for South Asia Martin Raiser and ADB’s Vice-President for Sectors and Themes Fatima Yasmin signed the agreement on the sidelines of COP28 on December 6, reads a statement issued by WB.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The full potential of Nepal’s enormous hydropower resources cannot be realized without close partnership between the Nepalese government, development partners and the private sector,” the statement quoted Martin Raiser as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“With this MOU, the ADB and the World Bank are laying the foundations for closer collaboration in financing and policy advice in Nepal’s hydropower sector, with the aim to support the country’s green, sustainable and inclusive development for decades to come.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Meanwhile, Yasmin said this agreement between ADB and the World Bank is a significant step in strengthening Nepal's energy security amid rising demands from population growth and urbanization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“It also fosters power trade with neighboring countries, promoting regional cooperation, economic growth, and green and inclusive development," said Yasmin, adding, "ADB is committed to promoting clean energy solutions that align with climate action goals. Our commitment goes beyond generating power; it's also about creating positive impacts on communities, livelihoods, and the environment and contributing to a more sustainable future for all.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the World Bank, the MOU specifically targets three critical areas for collaboration: enhancing country-level collaboration, strengthening co-financing, and boosting joint action on climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The pilot approach between the two multilateral development banks provides opportunities for collaboration in knowledge and experience sharing to ensure common understanding of the hydropower sector in Nepal, joint analytical studies, and consultation in support of the development of the hydropower sector, added the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the MOU, the World Bank and Asian Development Bank will also work together on strengthening the institutional capacity of Nepal’s executing and implementing agencies in the development of large hydropower projects, and the preparation and financing of projects in the energy sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank added that this is the first MOU signed between ADB and the World Bank following the joint statement on strengthening collaboration for greater impact issued by the heads of multilateral development banks at the World Bank-IMF Annual Meetings in Marrakech in October, 2023.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19416', 'image' => '20231210112715_GAqRgoPbAAAnvbE.jpg', 'article_date' => '2023-12-10 11:26:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19686', 'article_category_id' => '1', 'title' => 'Tea Industry in Crisis: Stakeholders ', 'sub_title' => '', 'summary' => 'December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. They raised this issue at a time when the National Tea and Coffee Development Board (NTCDB) is targeting to bring in foreign currency twice as much in the current fiscal year compared to the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Harka Tamang, a tea farmer, said the government does not list tea as agriculture product and imposes electricity tariff on par with an industry and this is affecting irrigation. Furthermore the absence of an auction market is obstructing access to the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Central Vice President of All Nepal Trade Union Bhupal Sapkota blames the NTCDB of not playing an effective role in solving the problems of tea industrialists, businessmen, farmers and workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Central President of Nepal Tea Plantation Workers' Union, Deepak Tamang, accused the state of being apathetic in solving the problems of the tea sector. He complained that the board has not played a coordinating role in implementing the law while the workers of some plantations are not even getting wages as per the Labour Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Executive Director of the Board, Bishnu Prasad Bhattarai, pledged to play an effective role in solving the existing problems in the tea sector and properly address all the problems raised by the stakeholders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the board, the country earned Rs 3.80 billion in foreign exchange through tea export during the last fiscal year. The main markets of tea produced in Nepal include India, China, Sri Lanka, Russia, and the Netherlands. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tea plantation is done in 20,237 hectares of land in Nepal with 99 percent of it produced in Koshi province. Altogether 30 orthodox tea industries and 38 CTC tea industries employ 70,000 people. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19414', 'image' => '20231210103048_20230207042911_Tea.jpg', 'article_date' => '2023-12-10 10:29:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19685', 'article_category_id' => '1', 'title' => 'Rara Welcomes over 4,500 Tourists in Four Months', 'sub_title' => '', 'summary' => 'Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The latest figures provided by the Rara National Park reveal that among the total 4,611 tourists, 4,490 were domestic travelers, while 96 were foreign tourists, with 24 representing SAARC countries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Jay Hari Dhital, the Information Officer at Rara National Park, said that during the festive Dashain-Tihar vacation, Rara witnessed a significant surge in domestic tourist arrivals, contributing to a revenue of Rs 1.2 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In comparison, the entire year of 2079 BS saw a total of 11,000 domestic tourists, including 26 from SAARC nations and 183 other foreigners visiting Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rara National Park has implemented an entry fee system, charging Rs 100 per domestic tourist, Rs 1,500 for tourists from SAARC countries, and Rs 3,000 for other foreign visitors, according to Dhimal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 75 percent of tourists reached Rara via air, while the remaining 25 percent opted for the land route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">National park officials believe that Rara will lure more tourists if reliable and quality roads are made available. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19413', 'image' => '20231210065811_collage (5).jpg', 'article_date' => '2023-12-10 06:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19684', 'article_category_id' => '1', 'title' => 'Coca-Cola Beverages Nepal Launches Coke Buddy App', 'sub_title' => '', 'summary' => 'Coca-Cola Beverages in Nepal has unveiled its "Coke Buddy" app, introducing a seamless and efficient ordering experience for retailers.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 8: Coca-Cola Beverages in Nepal has unveiled its "Coke Buddy" app, introducing a seamless and efficient ordering experience for retailers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This innovative mobile application is designed to transform the distribution of Coca-Cola's extensive beverage portfolio, enabling retailers to place orders quickly and effortlessly through distributors, anytime and anywhere.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Coke Buddy app represents a significant digital leap, connecting 256 distributors and 156,000 outlets across Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Its primary goal is to enhance communication and logistics within Coca-Cola Beverages Nepal, establishing real-time connectivity between distributors and outlets.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> This digital solution is poised to optimize supply chain management, enhance inventory visibility, and ensure a smooth experience for both distributors and retailers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Deepak Nath Senthil, the Managing Director of Bottlers Nepal Limited, expressed the app's significance, stating, "Our Coke Buddy App allows distributors and retailers/outlets to connect and place orders with minimal effort, anywhere."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Key features of the Coke Buddy App include the ability to place orders at any time and from any location, one-minute ordering for swift transactions, real-time order management, inventory tracking, and support for promotions and marketing initiatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As prominent Fast-Moving Consumer Goods (FMCG) entities in Nepal, Bottlers Nepal Limited and Bottlers Nepal Terai Limited are spearheading innovation to simplify business processes for all partners across the value chain. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19412', 'image' => '20231208044411_collage (4).jpg', 'article_date' => '2023-12-08 16:42:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19683', 'article_category_id' => '1', 'title' => 'Why is Banking Offense Increasing? ', 'sub_title' => '', 'summary' => 'December 8: Cases of banking offenses have increased sharply in recent months. According to the Kathmandu District Public Prosecutor's Office, the police have forwarded 2,651 cases of banking offense to the Public Prosecutor's Office from June 27 to November 16.', '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"">December 8: Cases of banking offenses have increased sharply in recent months. According to the Kathmandu District Public Prosecutor's Office, the police have forwarded </span><span style="font-family:"Arial Unicode MS","sans-serif"">2,651</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">cases of banking offense to the Public Prosecutor's Office from June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7 to November </span><span style="font-family:"Arial Unicode MS","sans-serif"">16</span><span style="font-family:"Arial","sans-serif"">.</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 data shows that more than </span><span style="font-family:"Arial Unicode MS","sans-serif"">20</span><span style="font-family:"Arial","sans-serif""> complaints are filed daily seeking justice in banking offence cases. </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"">Government employees expect more cases to be filed in coming days as the figures of last month were less than anticipated due to lots of public holidays between June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7 to November </span><span style="font-family:"Arial Unicode MS","sans-serif"">16</span><span style="font-family:"Arial","sans-serif"">.</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 situation of banking offense seems alarming if the figures from across the country are taken into consideration.</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"">Concerned officials say that even though cases of banking offense started appearing </span><span style="font-family:"Arial Unicode MS","sans-serif"">8</span><span style="font-family:"Arial","sans-serif""> to </span><span style="font-family:"Arial Unicode MS","sans-serif"">10</span><span style="font-family:"Arial","sans-serif""> years ago, they started to increase from the fiscal year </span><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span><span style="font-family:"Arial","sans-serif""> and have peaked recently.</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"">On June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7, the government made an arrangement allowing even the district attorney's office to investigate and prosecute individuals in cases of banking offense. Before that, commercial benches were appointed in some high courts for looking after such cases.</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 an employee of the Kathmandu District Public Prosecutor's Office, employees are fully engaged in work as the number of complaints related to banking offenses has been increasing. </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"">"We have lots of files to go through but the number of employees is very small," said the official requesting not to be named. </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"">He complained that the workload of the Kathmandu District Public Prosecutor's office has increased since June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7, but the staff has not increased. </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 work load has increased by </span><span style="font-family:"Arial Unicode MS","sans-serif"">30-40</span><span style="font-family:"Arial","sans-serif""> percent but the number of government lawyers in the office is the same as it was before (</span><span style="font-family:"Arial Unicode MS","sans-serif"">35</span><span style="font-family:"Arial","sans-serif""> people)."</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 complaint of banking offense is registered, the police sends it to the public prosecutor's office for its opinion. Police handles the cases based on the opinion of the public prosecutor's office.</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"">Most of the complaints are related to cheque bounce</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"">Government officials say that most of the people who come to the public prosecutor's office complain of cheque bounce. In the first four months of the current fiscal year, cases of cheque bounce worth about Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">3</span><span style="font-family:"Arial","sans-serif""> billion have been registered at the Kathmandu District Police Range. During this period, the police have arrested </span><span style="font-family:"Arial Unicode MS","sans-serif"">612</span><span style="font-family:"Arial","sans-serif""> people including </span><span style="font-family:"Arial Unicode MS","sans-serif"">164</span><span style="font-family:"Arial","sans-serif""> women on charges of cheque bounce. </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"">During the last fiscal year, </span><span style="font-family:"Arial Unicode MS","sans-serif"">2,340</span><span style="font-family:"Arial","sans-serif""> people were arrested on charges of cheque bounce. It is mentioned in the police data that cheques worth Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">47</span><span style="font-family:"Arial","sans-serif"">.</span><span style="font-family:"Arial Unicode MS","sans-serif"">5</span><span style="font-family:"Arial","sans-serif""> billion were bounced last year.</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 last fiscal year, more than </span><span style="font-family:"Arial Unicode MS","sans-serif"">7,000</span><span style="font-family:"Arial","sans-serif""> complaints of banking offenses were registered in District Police Range Kathmandu alone. </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 police submits its report, the public prosecutor's office studies and decides whether to file a case in court or not.</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 increase in cheque bounce cases, the government has introduced a bill to amend the Banking Offenses and Punishment Act, </span><span style="font-family:"Arial Unicode MS","sans-serif"">2064</span><span style="font-family:"Arial","sans-serif""> with provisions to increase the punishment for the guilty. </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 bill is currently pending in the House of Representatives. Noting that the increase in the number of banking offenses has raised serious concerns, the concerned authorities have suggested that a deep investigation should be conducted into why this is happening. </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"">"Is it because of the development of a tendency to enjoy cheating one another or because of increased financial problems?" said an officer of the Kathmandu Police Range, adding, "People who are considered to be affluent in the society have also been convicted of the crime of banking offences. A detailed study and research is needed to find out why this is happening.”</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"">What is a banking offense?</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"">Crimes against banking and financial system are banking offense. There is a universal practice of treating banking offenses as a crime because it is essential to increase public confidence in the banking and financial system, protect the rights and interests of depositors, ensure quality services of banks and financial institutions and maintain financial stability.</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"">What is a cheque bounce?</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"">A cheque presented in a bank is considered bounced if a person issuing the cheque to someone does it knowing that there is not enough money in the bank account, or if the bank deposit is insufficient. The person who received the cheque must file a case in court within six months of the cheque being bounced. If the claim is proven, there is a provision in the Banking Offenses Act, 2064, that the court can impose fines accordingly.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19411', 'image' => '20231208033218_banking-offence -800.jpg', 'article_date' => '2023-12-08 15:31:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19682', 'article_category_id' => '1', 'title' => 'NEA Sells Electricity worth Rs 15.4 Billion to India during this Monsoon', 'sub_title' => '', 'summary' => 'December 8: The Nepal Electricity Authority (NEA) exported electricity worth Rs 15.4 billion to India during this year’s monsoon. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: The Nepal Electricity Authority (NEA) exported electricity worth Rs 15.4 billion to India during this year’s monsoon. As per the agreement, the NEA started exporting surplus electricity to India from June 1, 2023. Accordingly, the NEA sold over 1.7 billion units of electricity worth Rs 15.4 billion to India between June 1 and December 6, 2023. A maximum of 700 megawatts of electricity was sold on a daily basis at Rs 8.77 per unit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, following the decrease in the production of electricity as a result of the decrease in the water flow in the rivers in the dry season, the demand for internal consumption has increased resulting in the commencement of the import of power from the Indian market. So, the export will come to a halt from tonight, the NEA said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The import of electricity from India has started as the domestic production is not enough to meet the demand at home, said NEA Executive Director Kulman Ghising, adding that the current daily demand for power is a maximum of 1700 megawatts across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Now, the production and demand are at the equal level. We are operating our semi-reservoir-based power houses during the peak hours in the evening and morning after filling them in the noon and night," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The import of electricity during the peak hours is costlier, and it is relatively cheap during noon and night. So, electricity will be purchased outside the peak hours." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Ghising, the export will resume from the second week of Baisakh (last week of April, 2024). </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"">“This year, around 900 megawatts electricity is being added to the national grid. Similarly, next year, power worth approximately Rs 25 billion will be exported. High-powered transmission lines are being constructed for improving the transmission of electricity between the two countries. On the other hand, hydropower projects are being built within the country. In this context, a climate is being created wherein electricity worth around Rs 100 billion will be exported in the next five years." </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19410', 'image' => '20231208030316_elec.jpg', 'article_date' => '2023-12-08 15:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19681', 'article_category_id' => '1', 'title' => 'Shortage of Potatoes and Onions as Traders Protest against VAT', 'sub_title' => '', 'summary' => 'December 8: There has been a shortage of potatoes and onions in the market due to the imposition of Value Added Tax (VAT) by the government.', '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"">December 8: There has been a shortage of potatoes and onions in the market due to the imposition of Value Added Tax (VAT) by the government.</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 price of these essential food items was already high and the government imposed VAT on top of it.</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 businessmen accused the government of imposing the VAT with mala fide intentions and stopped importing potatoes and onions. As a result, the market has been reeling under the shortage of potatoes and onions.</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"">Businessmen, who had partially reduced the supply of potatoes and onions for four days, completely stopped their business since Wednesday saying that they cannot do business due to the 'irrational decision of the government'. As the businessmen halted their business, it has become difficult to find potatoes and onions in the market.</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"">General Secretary of the Potato and Onion Import Export and Wholesalers Association Prakash Gajurel says that the Finance Minister deceived the public by saying that the government decided to impose VAT only on imported potatoes and onions. After the government made a provision to impose VAT on potatoes and onions in current fiscal year, the businessmen met the finance minister and requested him to waive VAT. At that time, the finance minister had assured that VAT would not be levied on potatoes and onions produced in the country.</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 Gajurel, the government has now started imposing VAT even on potatoes and onions produced by the local farmers. </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"">"That's why we reached to the conclusion that potatoes and onions cannot be traded from now on and stopped the business," he told New Business Age. </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"">“We don’t use VAT bill while purchasing potatoes and onions from the local farmers but the government seeks VAT bill from us. When this happens, our income appears higher than the real income and it increases our income tax obligation. Consumers also have to pay higher prices,” he added.</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 association has alleged that the government is trying to extort money from traders in the name of VAT.</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"">Meanwhile, the Kalimati Fruits and Vegetables Market Development Committee has removed potatoes and onions from its daily price list. Binay Shrestha, information officer of the committee, informed that due to the problem of VAT, traders have now stopped bringing potatoes and onions to Kalimati. According to him, after the traders did not bring potatoes and onions the committee decided to remove those items from the list.</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 traders' strike, potatoes and onions have stopped entering Kalimati and other big vegetable markets since the past few days. According to the data of the committee, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of onion and about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of potatoes used to be imported in Kalimati per day.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19409', 'image' => '20231208015857_20230123021027_onion.jpg', 'article_date' => '2023-12-08 13:58:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19680', 'article_category_id' => '1', 'title' => 'NRB Unveils First Quarterly Review of Monetary Policy ', 'sub_title' => '', 'summary' => 'December 8: The Nepal Rastra Bank (NRB) has unveiled the first quarterly review report of the monetary policy for the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: The Nepal Rastra Bank (NRB) has unveiled the first quarterly review report of the monetary policy for the current fiscal year. Following the release of the review report, it was endorsed by a meeting of the NRB Board of Directors on Friday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Presenting an analysis of various factors influencing the prevailing inflation, the NRB, through the review, has reduced the bank rates from 7.5 percent to 7 percent, considering the current status of the Balance of Payment and the growth rate of bank loans to the private sector. Similarly, policy rates have been maintained at 5.5 percent against the previous rate of 6.5 percent. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The provisions regarding mandatory cash reserve ratio and statutory liquidity ratio have remained unchanged. As for the provision of counting debentures issued by banks and financial institutions, the NRB has decided to count them as 50 percent resource until the end of the current fiscal year. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19408', 'image' => '20231208010709_NRBnew.jpg', 'article_date' => '2023-12-08 13:06:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19679', 'article_category_id' => '1', 'title' => ''Climate Conscious' Banks Lend More to Polluters: ECB', 'sub_title' => '', 'summary' => 'December 8: Eurozone banks that portray themselves as more conscious about environmental issues lend more than others to polluting industries, a group of European Central Bank economists said on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 8: Eurozone banks that portray themselves as more conscious about environmental issues lend more than others to polluting industries, a group of European Central Bank economists said on Wednesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Banks have a key role in financing the green transition, and their lending practices and environmental standards are under growing scrutiny.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The four ECB economists looked at investor reports and releases from major banks in the single currency area over the period from 2014 to 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Their research highlighted a "discrepancy about how banks talk about environmental intentions, and how they lend," they said in a blog post, released to coincide with the COP28 climate talks in Dubai.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It found that banks with high levels of "environmental disclosures" tend to be specialised in extending credit to so-called "brown industries" -- those that are highly polluting.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This fits in with the notion that lenders with greater exposure to polluting industries are under greater pressure to disclose environmental strategies and plans for decarbonisation, they said in the blog.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But they also found that firms with large carbon footprints that obtain loans from such banks do not ultimately decrease their emissions or commit to voluntary emission targets.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition, lenders who portray themselves as more climate friendly also appeared reluctant to lend to young firms in polluting sectors -- precisely the sort of companies that could drive innovation in clean technologies, the economists said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a situation had arisen because banks were "reluctant to disrupt established lending relationships with larger carbon footprint borrowers," they said. -- AFP/RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19407', 'image' => '20231208121314_Banks - Copy.jpg', 'article_date' => '2023-12-08 12:12:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19678', 'article_category_id' => '1', 'title' => 'Govt Forms High-Level Committee to Probe Ncell Share Sale Issue ', 'sub_title' => '', 'summary' => 'December 8: The government has formed a high-level committee to investigate the issue of the sale of share of Ncell, a private telecommunications service provider based 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"">December 8: The government has formed a high-level committee to investigate the issue of the sale of share of Ncell, a private telecommunications service provider based in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Thursday constituted the five-member committee headed by former Auditor General Tankamani Sharma. The committee has been assigned to submit its report to the government within a month, according to Minister for Communications and Information Technology, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government secretary Phanindra Gautam, Finance Ministry's joint-secretary Ritesh Kumar Shakya, joint secretary at the Ministry of Communications and Information Technology, Baburaj Bhandari, and ICAN President Sujan Kumar Kafle are the members of the probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting has appointed Rudra Prasad Gautam as the Chair of Drinking Water and Tariff Fixation Commission while Yashoda Karki and Kulbhushan Sharma have been appointed as members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the meeting has formed talks team under the convenorship of Finance Ministry's joint secretary to negotiate with the proposal regarding the World Bank assistance for the 'Provincial and Local Road Improvement Programme- first phase'. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19406', 'image' => '20231208113407_ncell.jpg', 'article_date' => '2023-12-08 11:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19677', 'article_category_id' => '1', 'title' => 'High Court Orders not to Recognize Sale of Ncell Shares ', 'sub_title' => '', 'summary' => 'December 8: The Patan High Court has issued an interim order in the name of the Company Registrar's Office not to register the transfer of ownership of the shares of Ncell, a private telecommunication service provider company operating 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"">December 8: The Patan High Court has issued an interim order in the name of the Company Registrar's Office not to register the transfer of ownership of the shares of Ncell, a private telecommunication service provider company operating in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of High Court Judge Purushottam Prasad Dhakal handed down the order on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the court has summoned both parties for a hearing on the dispute on December 11. Following the hearing, the court will decide whether to continue the interim order or issue another order. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malaysian company Axiata reportedly sold 80 percent of its shares in Ncell to Spectralite UK Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The order comes in response to a writ petition filed at the High Court by Gokul Bahadur Rokaya, demanding that the transaction of shares purchase and sale not be recognized. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19405', 'image' => '20231208101216_orders.jpg', 'article_date' => '2023-12-08 10:11:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19676', 'article_category_id' => '1', 'title' => '10,000 Beneficiaries Confirmed for Temporary Housing in Aathbiskot', 'sub_title' => '', 'summary' => 'In the aftermath of the November 3 earthquake with its epicenter at at Ramidanda of Jajarkot, Aathbiskot Municipality in Rukum Paschim district has identified nearly 10,000 individuals who require support for the construction of temporary housing.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 8: In the aftermath of the November 3 earthquake with its epicenter at at Ramidanda of Jajarkot, Aathbiskot Municipality in Rukum Paschim district has identified nearly 10,000 individuals who require support for the construction of temporary housing.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The municipality's Acting Chief Administrative Officer, Maniraj Shah, said data collected from all 14 wards of the municipality reveals that 9,962 individuals are in need of assistance following the seismic event. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These confirmed beneficiaries will receive financial support to facilitate the construction of temporary shelters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Previously, 4,500 individuals from the municipality had already received Rs 25,000 each to aid in the construction of their temporary dwellings. Acting on the recent data, the remaining 5,462 beneficiaries are now slated to receive the first tranche of financial aid.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite the financial assistance, the municipality currently lacks records detailing the number of temporary houses constructed since the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While some temporary residences have been completed, a significant portion of quake survivors continues to live under tarpaulins.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mayor Rabilal KC assured ongoing efforts to ensure that all those affected by the earthquake will be accommodated in temporary housing by mid-December. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19404', 'image' => '20231208061706_collage (4).jpg', 'article_date' => '2023-12-08 06:15:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19675', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank announces ‘Enhanced Parental Leave Benefits’ for its Employees', 'sub_title' => '', 'summary' => 'December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Thursday, the bank said that its staff are eligible to avail a minimum of 20 weeks (140 calendar days) of paid Parental Leave – irrespective of gender, relationship status, or how a child comes to permanently join a family (ie adoption). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SCBNL claimed that it is the first bank in the country to introduce such benefits for all its employees, aimed at levelling the playing field by allowing them the ability to partake equally in caregiving responsibilities for their children. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Accordingly, maternity, paternity, and adoption leave benefits (jointly referred to as ‘Parental Leave’) will be 140 calendar days,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajan Udas, head of Human Resources at Standard Chartered Bank Nepal Limited (SCBNL) said, “Welcoming a child into a family is a momentous occasion and the bank wants to support colleagues through this key life event so that they can effectively balance both personal and professional priorities. We believe benefits such as this help address prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities. This will positively impact families’ financial wellbeing and create a more inclusive workplace that supports everyone’s family planning choices.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19403', 'image' => '20231207044116_parental-leave-slide1.jpg', 'article_date' => '2023-12-07 16:40:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19674', 'article_category_id' => '1', 'title' => 'KNP Japan Pvt. Limited to Establish PNC Ward at Narayani Hospital', 'sub_title' => '', 'summary' => 'In a trilateral agreement, KNP Japan Private Limited, a multinational paint manufacturer, is set to establish a Post Natal Care (PNC) ward at Narayani Hospital in Birgunj.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 7: In a trilateral agreement, KNP Japan Private Limited, a multinational paint manufacturer, is set to establish a Post Natal Care (PNC) ward at Narayani Hospital in Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The hospital's Medical Superintendent, Dr. Chittaranjan Sah, said that KNP Japan Private Limited had agreed to establish post-natal care ward at the hospital with the Birgunj Metropolis’ initiative.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Arvind Lal Karn, the executive officer for the metropolis, Dr. Sah representing the hospital, and Manoj Mishra, the Country Head of KNP, signed the agreement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mayor Rajesh Man Singh praised the company's contribution and urged further collaboration, highlighting KNP's support for community school improvements in Birgunj. He emphasized the metropolis’ prioritization on health and education.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Sah expressed confidence that the proposed PNC ward would be helpful in reducing maternal mortality. With the establishment of this ward, mothers discharged after childbirth can now undergo postnatal care within the hospital premises for at least one day, allowing for close monitoring.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ashok Kumar Baidya, the director of KNP, stated that the company had agreed to establish unit as part of its corporate social responsibility. The post-natal unit is estimated to cost Rs 4 million and will be completed within one and a half months. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19402', 'image' => '20231207042646_collage (3).jpg', 'article_date' => '2023-12-07 16:10:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19673', 'article_category_id' => '1', 'title' => 'NEPSE Records 11.73-Point Surge, Closing at 1852.77', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) observed a slight increase, closing at 1852.77 with a gain of 11.73 points or 0.63% on the last trading day of the week on Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 7: The Nepal Stock Exchange (NEPSE) observed a slight increase, closing at 1852.77 with a gain of 11.73 points or 0.63% on the last trading day of the week on Thursday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market analysts and investors are expressing a cautious outlook, suggesting that the stock market might remain in a sideways trend for the next few months.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They assert that a significant upward movement is unlikely unless the Nepal Rastra Bank revises its stringent policies currently imposed on the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the today's trading session, a total of 292 scrips were exchanged through 53,146 transactions, involving 9,505,608 traded shares, with a turnover of Rs 2.79 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Reinsurance Company Limited Promoter Share (NRICP) recorded the highest turnover, amounting to Rs 86 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Trishuli Jal Vidhyut Company Limited (TVCL) experienced the most substantial gain of 10.00%, triggering a positive circuit for the day. Conversely, Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) incurred the highest loss at 7.81%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed positively except for the Trading Index. Non-Life Insurance led the gainers with an increase of 2.11%, followed by HydroPower Index. Others Index recorded the least gain at 0.12%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Sensitive Index witnessed a rise of 0.45%, while the Float Index and Sensitive Float Index posted increases of 0.67% and 0.43%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19401', 'image' => '20231207034311_collage (2).jpg', 'article_date' => '2023-12-07 15:41:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $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' => '19688', 'article_category_id' => '1', 'title' => 'World Bank and ADB Join Forces for Sustainable Development of Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The two development partners of Nepal recently signed a memorandum of understanding (MOU) stipulating cooperation between them for an initial period of five years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank’s Vice President for South Asia Martin Raiser and ADB’s Vice-President for Sectors and Themes Fatima Yasmin signed the agreement on the sidelines of COP28 on December 6, reads a statement issued by WB.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The full potential of Nepal’s enormous hydropower resources cannot be realized without close partnership between the Nepalese government, development partners and the private sector,” the statement quoted Martin Raiser as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“With this MOU, the ADB and the World Bank are laying the foundations for closer collaboration in financing and policy advice in Nepal’s hydropower sector, with the aim to support the country’s green, sustainable and inclusive development for decades to come.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Meanwhile, Yasmin said this agreement between ADB and the World Bank is a significant step in strengthening Nepal's energy security amid rising demands from population growth and urbanization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“It also fosters power trade with neighboring countries, promoting regional cooperation, economic growth, and green and inclusive development," said Yasmin, adding, "ADB is committed to promoting clean energy solutions that align with climate action goals. Our commitment goes beyond generating power; it's also about creating positive impacts on communities, livelihoods, and the environment and contributing to a more sustainable future for all.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the World Bank, the MOU specifically targets three critical areas for collaboration: enhancing country-level collaboration, strengthening co-financing, and boosting joint action on climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The pilot approach between the two multilateral development banks provides opportunities for collaboration in knowledge and experience sharing to ensure common understanding of the hydropower sector in Nepal, joint analytical studies, and consultation in support of the development of the hydropower sector, added the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the MOU, the World Bank and Asian Development Bank will also work together on strengthening the institutional capacity of Nepal’s executing and implementing agencies in the development of large hydropower projects, and the preparation and financing of projects in the energy sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank added that this is the first MOU signed between ADB and the World Bank following the joint statement on strengthening collaboration for greater impact issued by the heads of multilateral development banks at the World Bank-IMF Annual Meetings in Marrakech in October, 2023.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19416', 'image' => '20231210112715_GAqRgoPbAAAnvbE.jpg', 'article_date' => '2023-12-10 11:26:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19686', 'article_category_id' => '1', 'title' => 'Tea Industry in Crisis: Stakeholders ', 'sub_title' => '', 'summary' => 'December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. They raised this issue at a time when the National Tea and Coffee Development Board (NTCDB) is targeting to bring in foreign currency twice as much in the current fiscal year compared to the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Harka Tamang, a tea farmer, said the government does not list tea as agriculture product and imposes electricity tariff on par with an industry and this is affecting irrigation. Furthermore the absence of an auction market is obstructing access to the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Central Vice President of All Nepal Trade Union Bhupal Sapkota blames the NTCDB of not playing an effective role in solving the problems of tea industrialists, businessmen, farmers and workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Central President of Nepal Tea Plantation Workers' Union, Deepak Tamang, accused the state of being apathetic in solving the problems of the tea sector. He complained that the board has not played a coordinating role in implementing the law while the workers of some plantations are not even getting wages as per the Labour Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Executive Director of the Board, Bishnu Prasad Bhattarai, pledged to play an effective role in solving the existing problems in the tea sector and properly address all the problems raised by the stakeholders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the board, the country earned Rs 3.80 billion in foreign exchange through tea export during the last fiscal year. The main markets of tea produced in Nepal include India, China, Sri Lanka, Russia, and the Netherlands. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tea plantation is done in 20,237 hectares of land in Nepal with 99 percent of it produced in Koshi province. Altogether 30 orthodox tea industries and 38 CTC tea industries employ 70,000 people. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19414', 'image' => '20231210103048_20230207042911_Tea.jpg', 'article_date' => '2023-12-10 10:29:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19685', 'article_category_id' => '1', 'title' => 'Rara Welcomes over 4,500 Tourists in Four Months', 'sub_title' => '', 'summary' => 'Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The latest figures provided by the Rara National Park reveal that among the total 4,611 tourists, 4,490 were domestic travelers, while 96 were foreign tourists, with 24 representing SAARC countries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Jay Hari Dhital, the Information Officer at Rara National Park, said that during the festive Dashain-Tihar vacation, Rara witnessed a significant surge in domestic tourist arrivals, contributing to a revenue of Rs 1.2 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In comparison, the entire year of 2079 BS saw a total of 11,000 domestic tourists, including 26 from SAARC nations and 183 other foreigners visiting Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rara National Park has implemented an entry fee system, charging Rs 100 per domestic tourist, Rs 1,500 for tourists from SAARC countries, and Rs 3,000 for other foreign visitors, according to Dhimal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 75 percent of tourists reached Rara via air, while the remaining 25 percent opted for the land route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">National park officials believe that Rara will lure more tourists if reliable and quality roads are made available. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19413', 'image' => '20231210065811_collage (5).jpg', 'article_date' => '2023-12-10 06:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19684', 'article_category_id' => '1', 'title' => 'Coca-Cola Beverages Nepal Launches Coke Buddy App', 'sub_title' => '', 'summary' => 'Coca-Cola Beverages in Nepal has unveiled its "Coke Buddy" app, introducing a seamless and efficient ordering experience for retailers.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 8: Coca-Cola Beverages in Nepal has unveiled its "Coke Buddy" app, introducing a seamless and efficient ordering experience for retailers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This innovative mobile application is designed to transform the distribution of Coca-Cola's extensive beverage portfolio, enabling retailers to place orders quickly and effortlessly through distributors, anytime and anywhere.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Coke Buddy app represents a significant digital leap, connecting 256 distributors and 156,000 outlets across Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Its primary goal is to enhance communication and logistics within Coca-Cola Beverages Nepal, establishing real-time connectivity between distributors and outlets.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> This digital solution is poised to optimize supply chain management, enhance inventory visibility, and ensure a smooth experience for both distributors and retailers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Deepak Nath Senthil, the Managing Director of Bottlers Nepal Limited, expressed the app's significance, stating, "Our Coke Buddy App allows distributors and retailers/outlets to connect and place orders with minimal effort, anywhere."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Key features of the Coke Buddy App include the ability to place orders at any time and from any location, one-minute ordering for swift transactions, real-time order management, inventory tracking, and support for promotions and marketing initiatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As prominent Fast-Moving Consumer Goods (FMCG) entities in Nepal, Bottlers Nepal Limited and Bottlers Nepal Terai Limited are spearheading innovation to simplify business processes for all partners across the value chain. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19412', 'image' => '20231208044411_collage (4).jpg', 'article_date' => '2023-12-08 16:42:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19683', 'article_category_id' => '1', 'title' => 'Why is Banking Offense Increasing? ', 'sub_title' => '', 'summary' => 'December 8: Cases of banking offenses have increased sharply in recent months. According to the Kathmandu District Public Prosecutor's Office, the police have forwarded 2,651 cases of banking offense to the Public Prosecutor's Office from June 27 to November 16.', '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"">December 8: Cases of banking offenses have increased sharply in recent months. According to the Kathmandu District Public Prosecutor's Office, the police have forwarded </span><span style="font-family:"Arial Unicode MS","sans-serif"">2,651</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">cases of banking offense to the Public Prosecutor's Office from June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7 to November </span><span style="font-family:"Arial Unicode MS","sans-serif"">16</span><span style="font-family:"Arial","sans-serif"">.</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 data shows that more than </span><span style="font-family:"Arial Unicode MS","sans-serif"">20</span><span style="font-family:"Arial","sans-serif""> complaints are filed daily seeking justice in banking offence cases. </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"">Government employees expect more cases to be filed in coming days as the figures of last month were less than anticipated due to lots of public holidays between June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7 to November </span><span style="font-family:"Arial Unicode MS","sans-serif"">16</span><span style="font-family:"Arial","sans-serif"">.</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 situation of banking offense seems alarming if the figures from across the country are taken into consideration.</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"">Concerned officials say that even though cases of banking offense started appearing </span><span style="font-family:"Arial Unicode MS","sans-serif"">8</span><span style="font-family:"Arial","sans-serif""> to </span><span style="font-family:"Arial Unicode MS","sans-serif"">10</span><span style="font-family:"Arial","sans-serif""> years ago, they started to increase from the fiscal year </span><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span><span style="font-family:"Arial","sans-serif""> and have peaked recently.</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"">On June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7, the government made an arrangement allowing even the district attorney's office to investigate and prosecute individuals in cases of banking offense. Before that, commercial benches were appointed in some high courts for looking after such cases.</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 an employee of the Kathmandu District Public Prosecutor's Office, employees are fully engaged in work as the number of complaints related to banking offenses has been increasing. </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"">"We have lots of files to go through but the number of employees is very small," said the official requesting not to be named. </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"">He complained that the workload of the Kathmandu District Public Prosecutor's office has increased since June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7, but the staff has not increased. </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 work load has increased by </span><span style="font-family:"Arial Unicode MS","sans-serif"">30-40</span><span style="font-family:"Arial","sans-serif""> percent but the number of government lawyers in the office is the same as it was before (</span><span style="font-family:"Arial Unicode MS","sans-serif"">35</span><span style="font-family:"Arial","sans-serif""> people)."</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 complaint of banking offense is registered, the police sends it to the public prosecutor's office for its opinion. Police handles the cases based on the opinion of the public prosecutor's office.</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"">Most of the complaints are related to cheque bounce</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"">Government officials say that most of the people who come to the public prosecutor's office complain of cheque bounce. In the first four months of the current fiscal year, cases of cheque bounce worth about Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">3</span><span style="font-family:"Arial","sans-serif""> billion have been registered at the Kathmandu District Police Range. During this period, the police have arrested </span><span style="font-family:"Arial Unicode MS","sans-serif"">612</span><span style="font-family:"Arial","sans-serif""> people including </span><span style="font-family:"Arial Unicode MS","sans-serif"">164</span><span style="font-family:"Arial","sans-serif""> women on charges of cheque bounce. </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"">During the last fiscal year, </span><span style="font-family:"Arial Unicode MS","sans-serif"">2,340</span><span style="font-family:"Arial","sans-serif""> people were arrested on charges of cheque bounce. It is mentioned in the police data that cheques worth Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">47</span><span style="font-family:"Arial","sans-serif"">.</span><span style="font-family:"Arial Unicode MS","sans-serif"">5</span><span style="font-family:"Arial","sans-serif""> billion were bounced last year.</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 last fiscal year, more than </span><span style="font-family:"Arial Unicode MS","sans-serif"">7,000</span><span style="font-family:"Arial","sans-serif""> complaints of banking offenses were registered in District Police Range Kathmandu alone. </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 police submits its report, the public prosecutor's office studies and decides whether to file a case in court or not.</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 increase in cheque bounce cases, the government has introduced a bill to amend the Banking Offenses and Punishment Act, </span><span style="font-family:"Arial Unicode MS","sans-serif"">2064</span><span style="font-family:"Arial","sans-serif""> with provisions to increase the punishment for the guilty. </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 bill is currently pending in the House of Representatives. Noting that the increase in the number of banking offenses has raised serious concerns, the concerned authorities have suggested that a deep investigation should be conducted into why this is happening. </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"">"Is it because of the development of a tendency to enjoy cheating one another or because of increased financial problems?" said an officer of the Kathmandu Police Range, adding, "People who are considered to be affluent in the society have also been convicted of the crime of banking offences. A detailed study and research is needed to find out why this is happening.”</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"">What is a banking offense?</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"">Crimes against banking and financial system are banking offense. There is a universal practice of treating banking offenses as a crime because it is essential to increase public confidence in the banking and financial system, protect the rights and interests of depositors, ensure quality services of banks and financial institutions and maintain financial stability.</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"">What is a cheque bounce?</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"">A cheque presented in a bank is considered bounced if a person issuing the cheque to someone does it knowing that there is not enough money in the bank account, or if the bank deposit is insufficient. The person who received the cheque must file a case in court within six months of the cheque being bounced. If the claim is proven, there is a provision in the Banking Offenses Act, 2064, that the court can impose fines accordingly.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19411', 'image' => '20231208033218_banking-offence -800.jpg', 'article_date' => '2023-12-08 15:31:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19682', 'article_category_id' => '1', 'title' => 'NEA Sells Electricity worth Rs 15.4 Billion to India during this Monsoon', 'sub_title' => '', 'summary' => 'December 8: The Nepal Electricity Authority (NEA) exported electricity worth Rs 15.4 billion to India during this year’s monsoon. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: The Nepal Electricity Authority (NEA) exported electricity worth Rs 15.4 billion to India during this year’s monsoon. As per the agreement, the NEA started exporting surplus electricity to India from June 1, 2023. Accordingly, the NEA sold over 1.7 billion units of electricity worth Rs 15.4 billion to India between June 1 and December 6, 2023. A maximum of 700 megawatts of electricity was sold on a daily basis at Rs 8.77 per unit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, following the decrease in the production of electricity as a result of the decrease in the water flow in the rivers in the dry season, the demand for internal consumption has increased resulting in the commencement of the import of power from the Indian market. So, the export will come to a halt from tonight, the NEA said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The import of electricity from India has started as the domestic production is not enough to meet the demand at home, said NEA Executive Director Kulman Ghising, adding that the current daily demand for power is a maximum of 1700 megawatts across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Now, the production and demand are at the equal level. We are operating our semi-reservoir-based power houses during the peak hours in the evening and morning after filling them in the noon and night," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The import of electricity during the peak hours is costlier, and it is relatively cheap during noon and night. So, electricity will be purchased outside the peak hours." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Ghising, the export will resume from the second week of Baisakh (last week of April, 2024). </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"">“This year, around 900 megawatts electricity is being added to the national grid. Similarly, next year, power worth approximately Rs 25 billion will be exported. High-powered transmission lines are being constructed for improving the transmission of electricity between the two countries. On the other hand, hydropower projects are being built within the country. In this context, a climate is being created wherein electricity worth around Rs 100 billion will be exported in the next five years." </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19410', 'image' => '20231208030316_elec.jpg', 'article_date' => '2023-12-08 15:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19681', 'article_category_id' => '1', 'title' => 'Shortage of Potatoes and Onions as Traders Protest against VAT', 'sub_title' => '', 'summary' => 'December 8: There has been a shortage of potatoes and onions in the market due to the imposition of Value Added Tax (VAT) by the government.', '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"">December 8: There has been a shortage of potatoes and onions in the market due to the imposition of Value Added Tax (VAT) by the government.</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 price of these essential food items was already high and the government imposed VAT on top of it.</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 businessmen accused the government of imposing the VAT with mala fide intentions and stopped importing potatoes and onions. As a result, the market has been reeling under the shortage of potatoes and onions.</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"">Businessmen, who had partially reduced the supply of potatoes and onions for four days, completely stopped their business since Wednesday saying that they cannot do business due to the 'irrational decision of the government'. As the businessmen halted their business, it has become difficult to find potatoes and onions in the market.</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"">General Secretary of the Potato and Onion Import Export and Wholesalers Association Prakash Gajurel says that the Finance Minister deceived the public by saying that the government decided to impose VAT only on imported potatoes and onions. After the government made a provision to impose VAT on potatoes and onions in current fiscal year, the businessmen met the finance minister and requested him to waive VAT. At that time, the finance minister had assured that VAT would not be levied on potatoes and onions produced in the country.</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 Gajurel, the government has now started imposing VAT even on potatoes and onions produced by the local farmers. </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"">"That's why we reached to the conclusion that potatoes and onions cannot be traded from now on and stopped the business," he told New Business Age. </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"">“We don’t use VAT bill while purchasing potatoes and onions from the local farmers but the government seeks VAT bill from us. When this happens, our income appears higher than the real income and it increases our income tax obligation. Consumers also have to pay higher prices,” he added.</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 association has alleged that the government is trying to extort money from traders in the name of VAT.</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"">Meanwhile, the Kalimati Fruits and Vegetables Market Development Committee has removed potatoes and onions from its daily price list. Binay Shrestha, information officer of the committee, informed that due to the problem of VAT, traders have now stopped bringing potatoes and onions to Kalimati. According to him, after the traders did not bring potatoes and onions the committee decided to remove those items from the list.</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 traders' strike, potatoes and onions have stopped entering Kalimati and other big vegetable markets since the past few days. According to the data of the committee, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of onion and about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of potatoes used to be imported in Kalimati per day.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19409', 'image' => '20231208015857_20230123021027_onion.jpg', 'article_date' => '2023-12-08 13:58:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19680', 'article_category_id' => '1', 'title' => 'NRB Unveils First Quarterly Review of Monetary Policy ', 'sub_title' => '', 'summary' => 'December 8: The Nepal Rastra Bank (NRB) has unveiled the first quarterly review report of the monetary policy for the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: The Nepal Rastra Bank (NRB) has unveiled the first quarterly review report of the monetary policy for the current fiscal year. Following the release of the review report, it was endorsed by a meeting of the NRB Board of Directors on Friday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Presenting an analysis of various factors influencing the prevailing inflation, the NRB, through the review, has reduced the bank rates from 7.5 percent to 7 percent, considering the current status of the Balance of Payment and the growth rate of bank loans to the private sector. Similarly, policy rates have been maintained at 5.5 percent against the previous rate of 6.5 percent. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The provisions regarding mandatory cash reserve ratio and statutory liquidity ratio have remained unchanged. As for the provision of counting debentures issued by banks and financial institutions, the NRB has decided to count them as 50 percent resource until the end of the current fiscal year. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19408', 'image' => '20231208010709_NRBnew.jpg', 'article_date' => '2023-12-08 13:06:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19679', 'article_category_id' => '1', 'title' => ''Climate Conscious' Banks Lend More to Polluters: ECB', 'sub_title' => '', 'summary' => 'December 8: Eurozone banks that portray themselves as more conscious about environmental issues lend more than others to polluting industries, a group of European Central Bank economists said on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 8: Eurozone banks that portray themselves as more conscious about environmental issues lend more than others to polluting industries, a group of European Central Bank economists said on Wednesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Banks have a key role in financing the green transition, and their lending practices and environmental standards are under growing scrutiny.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The four ECB economists looked at investor reports and releases from major banks in the single currency area over the period from 2014 to 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Their research highlighted a "discrepancy about how banks talk about environmental intentions, and how they lend," they said in a blog post, released to coincide with the COP28 climate talks in Dubai.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It found that banks with high levels of "environmental disclosures" tend to be specialised in extending credit to so-called "brown industries" -- those that are highly polluting.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This fits in with the notion that lenders with greater exposure to polluting industries are under greater pressure to disclose environmental strategies and plans for decarbonisation, they said in the blog.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But they also found that firms with large carbon footprints that obtain loans from such banks do not ultimately decrease their emissions or commit to voluntary emission targets.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition, lenders who portray themselves as more climate friendly also appeared reluctant to lend to young firms in polluting sectors -- precisely the sort of companies that could drive innovation in clean technologies, the economists said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a situation had arisen because banks were "reluctant to disrupt established lending relationships with larger carbon footprint borrowers," they said. -- AFP/RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19407', 'image' => '20231208121314_Banks - Copy.jpg', 'article_date' => '2023-12-08 12:12:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19678', 'article_category_id' => '1', 'title' => 'Govt Forms High-Level Committee to Probe Ncell Share Sale Issue ', 'sub_title' => '', 'summary' => 'December 8: The government has formed a high-level committee to investigate the issue of the sale of share of Ncell, a private telecommunications service provider based 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"">December 8: The government has formed a high-level committee to investigate the issue of the sale of share of Ncell, a private telecommunications service provider based in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Thursday constituted the five-member committee headed by former Auditor General Tankamani Sharma. The committee has been assigned to submit its report to the government within a month, according to Minister for Communications and Information Technology, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government secretary Phanindra Gautam, Finance Ministry's joint-secretary Ritesh Kumar Shakya, joint secretary at the Ministry of Communications and Information Technology, Baburaj Bhandari, and ICAN President Sujan Kumar Kafle are the members of the probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting has appointed Rudra Prasad Gautam as the Chair of Drinking Water and Tariff Fixation Commission while Yashoda Karki and Kulbhushan Sharma have been appointed as members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the meeting has formed talks team under the convenorship of Finance Ministry's joint secretary to negotiate with the proposal regarding the World Bank assistance for the 'Provincial and Local Road Improvement Programme- first phase'. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19406', 'image' => '20231208113407_ncell.jpg', 'article_date' => '2023-12-08 11:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19677', 'article_category_id' => '1', 'title' => 'High Court Orders not to Recognize Sale of Ncell Shares ', 'sub_title' => '', 'summary' => 'December 8: The Patan High Court has issued an interim order in the name of the Company Registrar's Office not to register the transfer of ownership of the shares of Ncell, a private telecommunication service provider company operating 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"">December 8: The Patan High Court has issued an interim order in the name of the Company Registrar's Office not to register the transfer of ownership of the shares of Ncell, a private telecommunication service provider company operating in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of High Court Judge Purushottam Prasad Dhakal handed down the order on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the court has summoned both parties for a hearing on the dispute on December 11. Following the hearing, the court will decide whether to continue the interim order or issue another order. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malaysian company Axiata reportedly sold 80 percent of its shares in Ncell to Spectralite UK Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The order comes in response to a writ petition filed at the High Court by Gokul Bahadur Rokaya, demanding that the transaction of shares purchase and sale not be recognized. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19405', 'image' => '20231208101216_orders.jpg', 'article_date' => '2023-12-08 10:11:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19676', 'article_category_id' => '1', 'title' => '10,000 Beneficiaries Confirmed for Temporary Housing in Aathbiskot', 'sub_title' => '', 'summary' => 'In the aftermath of the November 3 earthquake with its epicenter at at Ramidanda of Jajarkot, Aathbiskot Municipality in Rukum Paschim district has identified nearly 10,000 individuals who require support for the construction of temporary housing.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 8: In the aftermath of the November 3 earthquake with its epicenter at at Ramidanda of Jajarkot, Aathbiskot Municipality in Rukum Paschim district has identified nearly 10,000 individuals who require support for the construction of temporary housing.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The municipality's Acting Chief Administrative Officer, Maniraj Shah, said data collected from all 14 wards of the municipality reveals that 9,962 individuals are in need of assistance following the seismic event. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These confirmed beneficiaries will receive financial support to facilitate the construction of temporary shelters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Previously, 4,500 individuals from the municipality had already received Rs 25,000 each to aid in the construction of their temporary dwellings. Acting on the recent data, the remaining 5,462 beneficiaries are now slated to receive the first tranche of financial aid.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite the financial assistance, the municipality currently lacks records detailing the number of temporary houses constructed since the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While some temporary residences have been completed, a significant portion of quake survivors continues to live under tarpaulins.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mayor Rabilal KC assured ongoing efforts to ensure that all those affected by the earthquake will be accommodated in temporary housing by mid-December. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19404', 'image' => '20231208061706_collage (4).jpg', 'article_date' => '2023-12-08 06:15:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19675', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank announces ‘Enhanced Parental Leave Benefits’ for its Employees', 'sub_title' => '', 'summary' => 'December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Thursday, the bank said that its staff are eligible to avail a minimum of 20 weeks (140 calendar days) of paid Parental Leave – irrespective of gender, relationship status, or how a child comes to permanently join a family (ie adoption). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SCBNL claimed that it is the first bank in the country to introduce such benefits for all its employees, aimed at levelling the playing field by allowing them the ability to partake equally in caregiving responsibilities for their children. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Accordingly, maternity, paternity, and adoption leave benefits (jointly referred to as ‘Parental Leave’) will be 140 calendar days,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajan Udas, head of Human Resources at Standard Chartered Bank Nepal Limited (SCBNL) said, “Welcoming a child into a family is a momentous occasion and the bank wants to support colleagues through this key life event so that they can effectively balance both personal and professional priorities. We believe benefits such as this help address prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities. This will positively impact families’ financial wellbeing and create a more inclusive workplace that supports everyone’s family planning choices.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19403', 'image' => '20231207044116_parental-leave-slide1.jpg', 'article_date' => '2023-12-07 16:40:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19674', 'article_category_id' => '1', 'title' => 'KNP Japan Pvt. Limited to Establish PNC Ward at Narayani Hospital', 'sub_title' => '', 'summary' => 'In a trilateral agreement, KNP Japan Private Limited, a multinational paint manufacturer, is set to establish a Post Natal Care (PNC) ward at Narayani Hospital in Birgunj.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 7: In a trilateral agreement, KNP Japan Private Limited, a multinational paint manufacturer, is set to establish a Post Natal Care (PNC) ward at Narayani Hospital in Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The hospital's Medical Superintendent, Dr. Chittaranjan Sah, said that KNP Japan Private Limited had agreed to establish post-natal care ward at the hospital with the Birgunj Metropolis’ initiative.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Arvind Lal Karn, the executive officer for the metropolis, Dr. Sah representing the hospital, and Manoj Mishra, the Country Head of KNP, signed the agreement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mayor Rajesh Man Singh praised the company's contribution and urged further collaboration, highlighting KNP's support for community school improvements in Birgunj. He emphasized the metropolis’ prioritization on health and education.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Sah expressed confidence that the proposed PNC ward would be helpful in reducing maternal mortality. With the establishment of this ward, mothers discharged after childbirth can now undergo postnatal care within the hospital premises for at least one day, allowing for close monitoring.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ashok Kumar Baidya, the director of KNP, stated that the company had agreed to establish unit as part of its corporate social responsibility. The post-natal unit is estimated to cost Rs 4 million and will be completed within one and a half months. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19402', 'image' => '20231207042646_collage (3).jpg', 'article_date' => '2023-12-07 16:10:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19673', 'article_category_id' => '1', 'title' => 'NEPSE Records 11.73-Point Surge, Closing at 1852.77', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) observed a slight increase, closing at 1852.77 with a gain of 11.73 points or 0.63% on the last trading day of the week on Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 7: The Nepal Stock Exchange (NEPSE) observed a slight increase, closing at 1852.77 with a gain of 11.73 points or 0.63% on the last trading day of the week on Thursday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market analysts and investors are expressing a cautious outlook, suggesting that the stock market might remain in a sideways trend for the next few months.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They assert that a significant upward movement is unlikely unless the Nepal Rastra Bank revises its stringent policies currently imposed on the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the today's trading session, a total of 292 scrips were exchanged through 53,146 transactions, involving 9,505,608 traded shares, with a turnover of Rs 2.79 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Reinsurance Company Limited Promoter Share (NRICP) recorded the highest turnover, amounting to Rs 86 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Trishuli Jal Vidhyut Company Limited (TVCL) experienced the most substantial gain of 10.00%, triggering a positive circuit for the day. Conversely, Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) incurred the highest loss at 7.81%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed positively except for the Trading Index. Non-Life Insurance led the gainers with an increase of 2.11%, followed by HydroPower Index. Others Index recorded the least gain at 0.12%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Sensitive Index witnessed a rise of 0.45%, while the Float Index and Sensitive Float Index posted increases of 0.67% and 0.43%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19401', 'image' => '20231207034311_collage (2).jpg', 'article_date' => '2023-12-07 15:41:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $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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Our commitment goes beyond generating power; it's also about creating positive impacts on communities, livelihoods, and the environment and contributing to a more sustainable future for all.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the World Bank, the MOU specifically targets three critical areas for collaboration: enhancing country-level collaboration, strengthening co-financing, and boosting joint action on climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The pilot approach between the two multilateral development banks provides opportunities for collaboration in knowledge and experience sharing to ensure common understanding of the hydropower sector in Nepal, joint analytical studies, and consultation in support of the development of the hydropower sector, added the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the MOU, the World Bank and Asian Development Bank will also work together on strengthening the institutional capacity of Nepal’s executing and implementing agencies in the development of large hydropower projects, and the preparation and financing of projects in the energy sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank added that this is the first MOU signed between ADB and the World Bank following the joint statement on strengthening collaboration for greater impact issued by the heads of multilateral development banks at the World Bank-IMF Annual Meetings in Marrakech in October, 2023.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19416', 'image' => '20231210112715_GAqRgoPbAAAnvbE.jpg', 'article_date' => '2023-12-10 11:26:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19686', 'article_category_id' => '1', 'title' => 'Tea Industry in Crisis: Stakeholders ', 'sub_title' => '', 'summary' => 'December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. They raised this issue at a time when the National Tea and Coffee Development Board (NTCDB) is targeting to bring in foreign currency twice as much in the current fiscal year compared to the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Harka Tamang, a tea farmer, said the government does not list tea as agriculture product and imposes electricity tariff on par with an industry and this is affecting irrigation. Furthermore the absence of an auction market is obstructing access to the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Central Vice President of All Nepal Trade Union Bhupal Sapkota blames the NTCDB of not playing an effective role in solving the problems of tea industrialists, businessmen, farmers and workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Central President of Nepal Tea Plantation Workers' Union, Deepak Tamang, accused the state of being apathetic in solving the problems of the tea sector. He complained that the board has not played a coordinating role in implementing the law while the workers of some plantations are not even getting wages as per the Labour Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Executive Director of the Board, Bishnu Prasad Bhattarai, pledged to play an effective role in solving the existing problems in the tea sector and properly address all the problems raised by the stakeholders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the board, the country earned Rs 3.80 billion in foreign exchange through tea export during the last fiscal year. The main markets of tea produced in Nepal include India, China, Sri Lanka, Russia, and the Netherlands. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tea plantation is done in 20,237 hectares of land in Nepal with 99 percent of it produced in Koshi province. Altogether 30 orthodox tea industries and 38 CTC tea industries employ 70,000 people. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19414', 'image' => '20231210103048_20230207042911_Tea.jpg', 'article_date' => '2023-12-10 10:29:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19685', 'article_category_id' => '1', 'title' => 'Rara Welcomes over 4,500 Tourists in Four Months', 'sub_title' => '', 'summary' => 'Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The latest figures provided by the Rara National Park reveal that among the total 4,611 tourists, 4,490 were domestic travelers, while 96 were foreign tourists, with 24 representing SAARC countries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Jay Hari Dhital, the Information Officer at Rara National Park, said that during the festive Dashain-Tihar vacation, Rara witnessed a significant surge in domestic tourist arrivals, contributing to a revenue of Rs 1.2 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In comparison, the entire year of 2079 BS saw a total of 11,000 domestic tourists, including 26 from SAARC nations and 183 other foreigners visiting Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rara National Park has implemented an entry fee system, charging Rs 100 per domestic tourist, Rs 1,500 for tourists from SAARC countries, and Rs 3,000 for other foreign visitors, according to Dhimal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 75 percent of tourists reached Rara via air, while the remaining 25 percent opted for the land route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">National park officials believe that Rara will lure more tourists if reliable and quality roads are made available. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19413', 'image' => '20231210065811_collage (5).jpg', 'article_date' => '2023-12-10 06:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19684', 'article_category_id' => '1', 'title' => 'Coca-Cola Beverages Nepal Launches Coke Buddy App', 'sub_title' => '', 'summary' => 'Coca-Cola Beverages in Nepal has unveiled its "Coke Buddy" app, introducing a seamless and efficient ordering experience for retailers.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 8: Coca-Cola Beverages in Nepal has unveiled its "Coke Buddy" app, introducing a seamless and efficient ordering experience for retailers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This innovative mobile application is designed to transform the distribution of Coca-Cola's extensive beverage portfolio, enabling retailers to place orders quickly and effortlessly through distributors, anytime and anywhere.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Coke Buddy app represents a significant digital leap, connecting 256 distributors and 156,000 outlets across Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Its primary goal is to enhance communication and logistics within Coca-Cola Beverages Nepal, establishing real-time connectivity between distributors and outlets.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> This digital solution is poised to optimize supply chain management, enhance inventory visibility, and ensure a smooth experience for both distributors and retailers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Deepak Nath Senthil, the Managing Director of Bottlers Nepal Limited, expressed the app's significance, stating, "Our Coke Buddy App allows distributors and retailers/outlets to connect and place orders with minimal effort, anywhere."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Key features of the Coke Buddy App include the ability to place orders at any time and from any location, one-minute ordering for swift transactions, real-time order management, inventory tracking, and support for promotions and marketing initiatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As prominent Fast-Moving Consumer Goods (FMCG) entities in Nepal, Bottlers Nepal Limited and Bottlers Nepal Terai Limited are spearheading innovation to simplify business processes for all partners across the value chain. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19412', 'image' => '20231208044411_collage (4).jpg', 'article_date' => '2023-12-08 16:42:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19683', 'article_category_id' => '1', 'title' => 'Why is Banking Offense Increasing? ', 'sub_title' => '', 'summary' => 'December 8: Cases of banking offenses have increased sharply in recent months. According to the Kathmandu District Public Prosecutor's Office, the police have forwarded 2,651 cases of banking offense to the Public Prosecutor's Office from June 27 to November 16.', '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"">December 8: Cases of banking offenses have increased sharply in recent months. According to the Kathmandu District Public Prosecutor's Office, the police have forwarded </span><span style="font-family:"Arial Unicode MS","sans-serif"">2,651</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">cases of banking offense to the Public Prosecutor's Office from June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7 to November </span><span style="font-family:"Arial Unicode MS","sans-serif"">16</span><span style="font-family:"Arial","sans-serif"">.</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 data shows that more than </span><span style="font-family:"Arial Unicode MS","sans-serif"">20</span><span style="font-family:"Arial","sans-serif""> complaints are filed daily seeking justice in banking offence cases. </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"">Government employees expect more cases to be filed in coming days as the figures of last month were less than anticipated due to lots of public holidays between June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7 to November </span><span style="font-family:"Arial Unicode MS","sans-serif"">16</span><span style="font-family:"Arial","sans-serif"">.</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 situation of banking offense seems alarming if the figures from across the country are taken into consideration.</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"">Concerned officials say that even though cases of banking offense started appearing </span><span style="font-family:"Arial Unicode MS","sans-serif"">8</span><span style="font-family:"Arial","sans-serif""> to </span><span style="font-family:"Arial Unicode MS","sans-serif"">10</span><span style="font-family:"Arial","sans-serif""> years ago, they started to increase from the fiscal year </span><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span><span style="font-family:"Arial","sans-serif""> and have peaked recently.</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"">On June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7, the government made an arrangement allowing even the district attorney's office to investigate and prosecute individuals in cases of banking offense. Before that, commercial benches were appointed in some high courts for looking after such cases.</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 an employee of the Kathmandu District Public Prosecutor's Office, employees are fully engaged in work as the number of complaints related to banking offenses has been increasing. </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"">"We have lots of files to go through but the number of employees is very small," said the official requesting not to be named. </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"">He complained that the workload of the Kathmandu District Public Prosecutor's office has increased since June </span><span style="font-family:"Arial Unicode MS","sans-serif"">2</span><span style="font-family:"Arial","sans-serif"">7, but the staff has not increased. </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 work load has increased by </span><span style="font-family:"Arial Unicode MS","sans-serif"">30-40</span><span style="font-family:"Arial","sans-serif""> percent but the number of government lawyers in the office is the same as it was before (</span><span style="font-family:"Arial Unicode MS","sans-serif"">35</span><span style="font-family:"Arial","sans-serif""> people)."</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 complaint of banking offense is registered, the police sends it to the public prosecutor's office for its opinion. Police handles the cases based on the opinion of the public prosecutor's office.</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"">Most of the complaints are related to cheque bounce</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"">Government officials say that most of the people who come to the public prosecutor's office complain of cheque bounce. In the first four months of the current fiscal year, cases of cheque bounce worth about Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">3</span><span style="font-family:"Arial","sans-serif""> billion have been registered at the Kathmandu District Police Range. During this period, the police have arrested </span><span style="font-family:"Arial Unicode MS","sans-serif"">612</span><span style="font-family:"Arial","sans-serif""> people including </span><span style="font-family:"Arial Unicode MS","sans-serif"">164</span><span style="font-family:"Arial","sans-serif""> women on charges of cheque bounce. </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"">During the last fiscal year, </span><span style="font-family:"Arial Unicode MS","sans-serif"">2,340</span><span style="font-family:"Arial","sans-serif""> people were arrested on charges of cheque bounce. It is mentioned in the police data that cheques worth Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">47</span><span style="font-family:"Arial","sans-serif"">.</span><span style="font-family:"Arial Unicode MS","sans-serif"">5</span><span style="font-family:"Arial","sans-serif""> billion were bounced last year.</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 last fiscal year, more than </span><span style="font-family:"Arial Unicode MS","sans-serif"">7,000</span><span style="font-family:"Arial","sans-serif""> complaints of banking offenses were registered in District Police Range Kathmandu alone. </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 police submits its report, the public prosecutor's office studies and decides whether to file a case in court or not.</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 increase in cheque bounce cases, the government has introduced a bill to amend the Banking Offenses and Punishment Act, </span><span style="font-family:"Arial Unicode MS","sans-serif"">2064</span><span style="font-family:"Arial","sans-serif""> with provisions to increase the punishment for the guilty. </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 bill is currently pending in the House of Representatives. Noting that the increase in the number of banking offenses has raised serious concerns, the concerned authorities have suggested that a deep investigation should be conducted into why this is happening. </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"">"Is it because of the development of a tendency to enjoy cheating one another or because of increased financial problems?" said an officer of the Kathmandu Police Range, adding, "People who are considered to be affluent in the society have also been convicted of the crime of banking offences. A detailed study and research is needed to find out why this is happening.”</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"">What is a banking offense?</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"">Crimes against banking and financial system are banking offense. There is a universal practice of treating banking offenses as a crime because it is essential to increase public confidence in the banking and financial system, protect the rights and interests of depositors, ensure quality services of banks and financial institutions and maintain financial stability.</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"">What is a cheque bounce?</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"">A cheque presented in a bank is considered bounced if a person issuing the cheque to someone does it knowing that there is not enough money in the bank account, or if the bank deposit is insufficient. The person who received the cheque must file a case in court within six months of the cheque being bounced. If the claim is proven, there is a provision in the Banking Offenses Act, 2064, that the court can impose fines accordingly.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19411', 'image' => '20231208033218_banking-offence -800.jpg', 'article_date' => '2023-12-08 15:31:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19682', 'article_category_id' => '1', 'title' => 'NEA Sells Electricity worth Rs 15.4 Billion to India during this Monsoon', 'sub_title' => '', 'summary' => 'December 8: The Nepal Electricity Authority (NEA) exported electricity worth Rs 15.4 billion to India during this year’s monsoon. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: The Nepal Electricity Authority (NEA) exported electricity worth Rs 15.4 billion to India during this year’s monsoon. As per the agreement, the NEA started exporting surplus electricity to India from June 1, 2023. Accordingly, the NEA sold over 1.7 billion units of electricity worth Rs 15.4 billion to India between June 1 and December 6, 2023. A maximum of 700 megawatts of electricity was sold on a daily basis at Rs 8.77 per unit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, following the decrease in the production of electricity as a result of the decrease in the water flow in the rivers in the dry season, the demand for internal consumption has increased resulting in the commencement of the import of power from the Indian market. So, the export will come to a halt from tonight, the NEA said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The import of electricity from India has started as the domestic production is not enough to meet the demand at home, said NEA Executive Director Kulman Ghising, adding that the current daily demand for power is a maximum of 1700 megawatts across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Now, the production and demand are at the equal level. We are operating our semi-reservoir-based power houses during the peak hours in the evening and morning after filling them in the noon and night," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The import of electricity during the peak hours is costlier, and it is relatively cheap during noon and night. So, electricity will be purchased outside the peak hours." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Ghising, the export will resume from the second week of Baisakh (last week of April, 2024). </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"">“This year, around 900 megawatts electricity is being added to the national grid. Similarly, next year, power worth approximately Rs 25 billion will be exported. High-powered transmission lines are being constructed for improving the transmission of electricity between the two countries. On the other hand, hydropower projects are being built within the country. In this context, a climate is being created wherein electricity worth around Rs 100 billion will be exported in the next five years." </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19410', 'image' => '20231208030316_elec.jpg', 'article_date' => '2023-12-08 15:02:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19681', 'article_category_id' => '1', 'title' => 'Shortage of Potatoes and Onions as Traders Protest against VAT', 'sub_title' => '', 'summary' => 'December 8: There has been a shortage of potatoes and onions in the market due to the imposition of Value Added Tax (VAT) by the government.', '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"">December 8: There has been a shortage of potatoes and onions in the market due to the imposition of Value Added Tax (VAT) by the government.</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 price of these essential food items was already high and the government imposed VAT on top of it.</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 businessmen accused the government of imposing the VAT with mala fide intentions and stopped importing potatoes and onions. As a result, the market has been reeling under the shortage of potatoes and onions.</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"">Businessmen, who had partially reduced the supply of potatoes and onions for four days, completely stopped their business since Wednesday saying that they cannot do business due to the 'irrational decision of the government'. As the businessmen halted their business, it has become difficult to find potatoes and onions in the market.</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"">General Secretary of the Potato and Onion Import Export and Wholesalers Association Prakash Gajurel says that the Finance Minister deceived the public by saying that the government decided to impose VAT only on imported potatoes and onions. After the government made a provision to impose VAT on potatoes and onions in current fiscal year, the businessmen met the finance minister and requested him to waive VAT. At that time, the finance minister had assured that VAT would not be levied on potatoes and onions produced in the country.</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 Gajurel, the government has now started imposing VAT even on potatoes and onions produced by the local farmers. </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"">"That's why we reached to the conclusion that potatoes and onions cannot be traded from now on and stopped the business," he told New Business Age. </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"">“We don’t use VAT bill while purchasing potatoes and onions from the local farmers but the government seeks VAT bill from us. When this happens, our income appears higher than the real income and it increases our income tax obligation. Consumers also have to pay higher prices,” he added.</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 association has alleged that the government is trying to extort money from traders in the name of VAT.</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"">Meanwhile, the Kalimati Fruits and Vegetables Market Development Committee has removed potatoes and onions from its daily price list. Binay Shrestha, information officer of the committee, informed that due to the problem of VAT, traders have now stopped bringing potatoes and onions to Kalimati. According to him, after the traders did not bring potatoes and onions the committee decided to remove those items from the list.</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 traders' strike, potatoes and onions have stopped entering Kalimati and other big vegetable markets since the past few days. According to the data of the committee, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">70</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of onion and about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tons of potatoes used to be imported in Kalimati per day.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19409', 'image' => '20231208015857_20230123021027_onion.jpg', 'article_date' => '2023-12-08 13:58:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19680', 'article_category_id' => '1', 'title' => 'NRB Unveils First Quarterly Review of Monetary Policy ', 'sub_title' => '', 'summary' => 'December 8: The Nepal Rastra Bank (NRB) has unveiled the first quarterly review report of the monetary policy for the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">December 8: The Nepal Rastra Bank (NRB) has unveiled the first quarterly review report of the monetary policy for the current fiscal year. Following the release of the review report, it was endorsed by a meeting of the NRB Board of Directors on Friday. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Presenting an analysis of various factors influencing the prevailing inflation, the NRB, through the review, has reduced the bank rates from 7.5 percent to 7 percent, considering the current status of the Balance of Payment and the growth rate of bank loans to the private sector. Similarly, policy rates have been maintained at 5.5 percent against the previous rate of 6.5 percent. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The provisions regarding mandatory cash reserve ratio and statutory liquidity ratio have remained unchanged. As for the provision of counting debentures issued by banks and financial institutions, the NRB has decided to count them as 50 percent resource until the end of the current fiscal year. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19408', 'image' => '20231208010709_NRBnew.jpg', 'article_date' => '2023-12-08 13:06:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19679', 'article_category_id' => '1', 'title' => ''Climate Conscious' Banks Lend More to Polluters: ECB', 'sub_title' => '', 'summary' => 'December 8: Eurozone banks that portray themselves as more conscious about environmental issues lend more than others to polluting industries, a group of European Central Bank economists said on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 8: Eurozone banks that portray themselves as more conscious about environmental issues lend more than others to polluting industries, a group of European Central Bank economists said on Wednesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Banks have a key role in financing the green transition, and their lending practices and environmental standards are under growing scrutiny.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The four ECB economists looked at investor reports and releases from major banks in the single currency area over the period from 2014 to 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Their research highlighted a "discrepancy about how banks talk about environmental intentions, and how they lend," they said in a blog post, released to coincide with the COP28 climate talks in Dubai.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It found that banks with high levels of "environmental disclosures" tend to be specialised in extending credit to so-called "brown industries" -- those that are highly polluting.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This fits in with the notion that lenders with greater exposure to polluting industries are under greater pressure to disclose environmental strategies and plans for decarbonisation, they said in the blog.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But they also found that firms with large carbon footprints that obtain loans from such banks do not ultimately decrease their emissions or commit to voluntary emission targets.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition, lenders who portray themselves as more climate friendly also appeared reluctant to lend to young firms in polluting sectors -- precisely the sort of companies that could drive innovation in clean technologies, the economists said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a situation had arisen because banks were "reluctant to disrupt established lending relationships with larger carbon footprint borrowers," they said. -- AFP/RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19407', 'image' => '20231208121314_Banks - Copy.jpg', 'article_date' => '2023-12-08 12:12:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19678', 'article_category_id' => '1', 'title' => 'Govt Forms High-Level Committee to Probe Ncell Share Sale Issue ', 'sub_title' => '', 'summary' => 'December 8: The government has formed a high-level committee to investigate the issue of the sale of share of Ncell, a private telecommunications service provider based 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"">December 8: The government has formed a high-level committee to investigate the issue of the sale of share of Ncell, a private telecommunications service provider based in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Thursday constituted the five-member committee headed by former Auditor General Tankamani Sharma. The committee has been assigned to submit its report to the government within a month, according to Minister for Communications and Information Technology, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government secretary Phanindra Gautam, Finance Ministry's joint-secretary Ritesh Kumar Shakya, joint secretary at the Ministry of Communications and Information Technology, Baburaj Bhandari, and ICAN President Sujan Kumar Kafle are the members of the probe committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting has appointed Rudra Prasad Gautam as the Chair of Drinking Water and Tariff Fixation Commission while Yashoda Karki and Kulbhushan Sharma have been appointed as members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the meeting has formed talks team under the convenorship of Finance Ministry's joint secretary to negotiate with the proposal regarding the World Bank assistance for the 'Provincial and Local Road Improvement Programme- first phase'. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19406', 'image' => '20231208113407_ncell.jpg', 'article_date' => '2023-12-08 11:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19677', 'article_category_id' => '1', 'title' => 'High Court Orders not to Recognize Sale of Ncell Shares ', 'sub_title' => '', 'summary' => 'December 8: The Patan High Court has issued an interim order in the name of the Company Registrar's Office not to register the transfer of ownership of the shares of Ncell, a private telecommunication service provider company operating 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"">December 8: The Patan High Court has issued an interim order in the name of the Company Registrar's Office not to register the transfer of ownership of the shares of Ncell, a private telecommunication service provider company operating in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of High Court Judge Purushottam Prasad Dhakal handed down the order on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the court has summoned both parties for a hearing on the dispute on December 11. Following the hearing, the court will decide whether to continue the interim order or issue another order. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Malaysian company Axiata reportedly sold 80 percent of its shares in Ncell to Spectralite UK Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The order comes in response to a writ petition filed at the High Court by Gokul Bahadur Rokaya, demanding that the transaction of shares purchase and sale not be recognized. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19405', 'image' => '20231208101216_orders.jpg', 'article_date' => '2023-12-08 10:11:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19676', 'article_category_id' => '1', 'title' => '10,000 Beneficiaries Confirmed for Temporary Housing in Aathbiskot', 'sub_title' => '', 'summary' => 'In the aftermath of the November 3 earthquake with its epicenter at at Ramidanda of Jajarkot, Aathbiskot Municipality in Rukum Paschim district has identified nearly 10,000 individuals who require support for the construction of temporary housing.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 8: In the aftermath of the November 3 earthquake with its epicenter at at Ramidanda of Jajarkot, Aathbiskot Municipality in Rukum Paschim district has identified nearly 10,000 individuals who require support for the construction of temporary housing.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The municipality's Acting Chief Administrative Officer, Maniraj Shah, said data collected from all 14 wards of the municipality reveals that 9,962 individuals are in need of assistance following the seismic event. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These confirmed beneficiaries will receive financial support to facilitate the construction of temporary shelters.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Previously, 4,500 individuals from the municipality had already received Rs 25,000 each to aid in the construction of their temporary dwellings. Acting on the recent data, the remaining 5,462 beneficiaries are now slated to receive the first tranche of financial aid.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite the financial assistance, the municipality currently lacks records detailing the number of temporary houses constructed since the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While some temporary residences have been completed, a significant portion of quake survivors continues to live under tarpaulins.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mayor Rabilal KC assured ongoing efforts to ensure that all those affected by the earthquake will be accommodated in temporary housing by mid-December. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-12-08', 'modified' => '2023-12-08', 'keywords' => '', 'description' => '', 'sortorder' => '19404', 'image' => '20231208061706_collage (4).jpg', 'article_date' => '2023-12-08 06:15:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19675', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank announces ‘Enhanced Parental Leave Benefits’ for its Employees', 'sub_title' => '', 'summary' => 'December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 7: Standard Chartered Bank Nepal Limited (SCBNL) has announced ‘Enhanced Parental Leave Benefits’ for its employees as part of its commitment to fostering an equitable and inclusive culture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Thursday, the bank said that its staff are eligible to avail a minimum of 20 weeks (140 calendar days) of paid Parental Leave – irrespective of gender, relationship status, or how a child comes to permanently join a family (ie adoption). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SCBNL claimed that it is the first bank in the country to introduce such benefits for all its employees, aimed at levelling the playing field by allowing them the ability to partake equally in caregiving responsibilities for their children. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Accordingly, maternity, paternity, and adoption leave benefits (jointly referred to as ‘Parental Leave’) will be 140 calendar days,” reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajan Udas, head of Human Resources at Standard Chartered Bank Nepal Limited (SCBNL) said, “Welcoming a child into a family is a momentous occasion and the bank wants to support colleagues through this key life event so that they can effectively balance both personal and professional priorities. We believe benefits such as this help address prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities. This will positively impact families’ financial wellbeing and create a more inclusive workplace that supports everyone’s family planning choices.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19403', 'image' => '20231207044116_parental-leave-slide1.jpg', 'article_date' => '2023-12-07 16:40:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19674', 'article_category_id' => '1', 'title' => 'KNP Japan Pvt. Limited to Establish PNC Ward at Narayani Hospital', 'sub_title' => '', 'summary' => 'In a trilateral agreement, KNP Japan Private Limited, a multinational paint manufacturer, is set to establish a Post Natal Care (PNC) ward at Narayani Hospital in Birgunj.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 7: In a trilateral agreement, KNP Japan Private Limited, a multinational paint manufacturer, is set to establish a Post Natal Care (PNC) ward at Narayani Hospital in Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The hospital's Medical Superintendent, Dr. Chittaranjan Sah, said that KNP Japan Private Limited had agreed to establish post-natal care ward at the hospital with the Birgunj Metropolis’ initiative.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Arvind Lal Karn, the executive officer for the metropolis, Dr. Sah representing the hospital, and Manoj Mishra, the Country Head of KNP, signed the agreement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mayor Rajesh Man Singh praised the company's contribution and urged further collaboration, highlighting KNP's support for community school improvements in Birgunj. He emphasized the metropolis’ prioritization on health and education.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr. Sah expressed confidence that the proposed PNC ward would be helpful in reducing maternal mortality. With the establishment of this ward, mothers discharged after childbirth can now undergo postnatal care within the hospital premises for at least one day, allowing for close monitoring.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ashok Kumar Baidya, the director of KNP, stated that the company had agreed to establish unit as part of its corporate social responsibility. The post-natal unit is estimated to cost Rs 4 million and will be completed within one and a half months. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19402', 'image' => '20231207042646_collage (3).jpg', 'article_date' => '2023-12-07 16:10:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '19673', 'article_category_id' => '1', 'title' => 'NEPSE Records 11.73-Point Surge, Closing at 1852.77', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) observed a slight increase, closing at 1852.77 with a gain of 11.73 points or 0.63% on the last trading day of the week on Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 7: The Nepal Stock Exchange (NEPSE) observed a slight increase, closing at 1852.77 with a gain of 11.73 points or 0.63% on the last trading day of the week on Thursday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market analysts and investors are expressing a cautious outlook, suggesting that the stock market might remain in a sideways trend for the next few months.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They assert that a significant upward movement is unlikely unless the Nepal Rastra Bank revises its stringent policies currently imposed on the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the today's trading session, a total of 292 scrips were exchanged through 53,146 transactions, involving 9,505,608 traded shares, with a turnover of Rs 2.79 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Reinsurance Company Limited Promoter Share (NRICP) recorded the highest turnover, amounting to Rs 86 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Trishuli Jal Vidhyut Company Limited (TVCL) experienced the most substantial gain of 10.00%, triggering a positive circuit for the day. Conversely, Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) incurred the highest loss at 7.81%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed positively except for the Trading Index. Non-Life Insurance led the gainers with an increase of 2.11%, followed by HydroPower Index. Others Index recorded the least gain at 0.12%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Sensitive Index witnessed a rise of 0.45%, while the Float Index and Sensitive Float Index posted increases of 0.67% and 0.43%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-07', 'modified' => '2023-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '19401', 'image' => '20231207034311_collage (2).jpg', 'article_date' => '2023-12-07 15:41:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $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
