The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass…
The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass…
November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been…
November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per…
November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on…
November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security…
November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the 18th Hospitality India Travel…
November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to…
November 28: The District Administration Office (DAO) Parsa has so far settled 438 cases related to loansharking.…
Rice production in Sarlahi has witnessed a significant decrease this year, attributed primarily to the absence of timely rainfall. The Agriculture Knowledge Centre in Sarlahi has reported that the untimely weather pattern has adversely impacted rice cultivation. Additionally, crop diseases and pesticide-related issues have further contributed to the decline in…
A sub-station built at Basantapur in Dharmadevi municipality in Sakhuwasabha district has come into…
November 27: At a time when the Nepali youths are looking for greener pastures abroad, there is a severe shortage of skilled manpower within the…
November 27: Bad loans of banks and financial institutions (BFIs) have been increasing due to the slump in economic…
November 27: Zonta Club Kathmandu organized an awareness program on violence against women on Sunday as part of the 16-day campaign against gender-based…
November 27: The Ministry of Foreign Affairs organized a special programme on Sunday to commemorate 100 years of Nepal-UK Friendship Treaty of 1923 at Hanuman Dhoka, Durbar Square,…
November 27: Kumari Bank Limited has paid insurance amount worth Rs 80 million to 4,500 customers of the bank under the 'Family Protection Savings Account'…
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There is a surge in demand for organic tea produced in Nepal in the European market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, black cardamom, ginger, and broom grass from the eastern hilly districts are exported to India via the Kakarvitta point. Data shows that in the same three-month period, the export of black cardamom amounted to approximately Rs 1.21 billion, with a quantity of 1,510 metric tons.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Black cardamom is specially cultivated in loamy soils found in Ilam, Panchthar, Tehrathum, Dhankuta, Sankhuwasabha, Bhojpur, and Khotang districts. It has a high market value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the Kakarvitta point recorded the export of 1,793 metric tons of ginger, equivalent to some Rs 230 million during the same period. Prior to export, ginger undergoes processing in Jhapa and Ilam districts to ensure its quality.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to these, there is a significant demand for broom grass in India and Bangladesh. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Chandeshwor Thakur, the information officer at the Plant Quarantine Office, 2,417 metric tons of broom grass worth Rs 290 million was exported, in the first three months of the current fiscal. This plant is primarily cultivated in the steep hills of Nepal. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19312', 'image' => '20231128042115_collage (10).jpg', 'article_date' => '2023-11-28 16:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19583', 'article_category_id' => '1', 'title' => 'Experts Urge Stakeholders to Capitalise on Open Border between Nepal and India', 'sub_title' => '', 'summary' => 'November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the open border like that of Nepal and India is rare in other countries, experts have suggested the neighbouring countries to capitalize on it for the prosperity of both the sides. So far, no concrete initiative has been taken in this regard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Misuse of the open border has resulted in smuggling of goods, drug trafficking, illegal and fake currency trading, and human trafficking which have become a matter of concern for both the sides. India's concern about the possibility of terrorist activities against it through the open border with Nepal is not a new issue. Both countries have promised not to allow such activities against each other from their respective territories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of the Madhesh Province chapter of the Federation of Nepalese Chambers of Commerce and Industry, says that there has not been enough initiative to utilize the economic and social opportunities of the open border.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Nepal and India share more than 1700 kilometers of open border. If it is used properly, the two-way economic and social life can be improved," Temani, who is also the chairman of the Nepal-India Socioeconomic Forum, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He claimed that if the border is properly managed, it can boost the economy of the border area. He pointed out the need for efforts at the government level. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, who promoted the concept of 'Happy Border' when he was the leader of the Birgunj Chamber of Commerce and Industry, is now the Chairman of the Trade Committee under the Confederation of Nepalese Chamber of Commerce and Industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the economic and social life of both the sides can be improved by capitlising on the social and religious ties between Nepal and India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Only if the residents living in the border areas are happy and satisfied, the problems seen in the open border will be solved. To make people's lives prosperous and happy, there is a need for meaningful coordination between the private sector and intergovernmental bodies," said Gupta.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders say that since Birgunj is a commercial and industrial hub, solving the problems seen in Nepal-India trade should be the priority.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The private sector has also been complaining about smuggling of goods through the open border while the authorities have been harassing the local businessmen in the name of curbing such illegal activities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Temani sees India's role as important in the development of industry and trade in Nepal. He said that even though Nepal-India trade relations are guided by trade agreements, there are problems from time to time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that a solution should be found based on understanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders claim that solving the problems seen in trade will increase trade and since Nepal is one of the main markets for India's export trade, it will benefit India. Gupta thinks that India, which is making massive progress in agriculture, can support the development of Nepal's agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"India can provide technical support for improving Nepal's agricultural system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devisahay Meena, the Indian Consul General in Birgunj, said that there is a need to further strengthen the economic and social relations between Nepal and India. In the program held in Birganj, Meena expressed India’s commitment to coordinate the best possible way for the overall development of the border area. </span></span></span></p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19311', 'image' => '20231128031437_Fl_600x600.jpg', 'article_date' => '2023-11-28 15:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19582', 'article_category_id' => '1', 'title' => 'Cut-off Price of Sarvottam Cement’s IPO Fixed at Rs 401 per Unit', 'sub_title' => '', 'summary' => 'November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit. Nepal Stock Exchange (NEPSE) opened the confidential sealed bids received from eligible institutional investors on the morning of November 27 and fixed the cut-off price at Rs 401.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information officer of NEPSE, Murahari Parajuli, informed that the cut-off price is set so that all the issued shares will be distributed to eligible institutional investors. He informed that after determining the cut-off price, all the applicants who bid an equivalent amount or more than the cut-off price will be allotted the shares as per the demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement sold 2.4 million shares to eligible institutional investors in the first phase from November 22 to 26. Although the bid was submitted with a maximum price of 406 rupees, the cut-off price was maintained at 401. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, Kumari Capital and two schemes under it, Kumari Equity Fund and Kumari Dhanbriddhi Yojana submitted the highest bid at the price of Rs 406 per share. NEPSE informed that Kumari Capital applied for 5,000 shares, Kumari Equity Fund operated under Kumari Capital applied for 15,000 shares and Kumari Dhanbriddhi Yojana applied for 20,000 shares. According to NEPSE, Citizen Investment Fund submitted a bid for the purchase of 400,000 shares at a price of Rs 405 per share. Apart from these, other applicants submitted bids of Rs 401 per share.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, 41 institutional investors submitted secret sealed bids for the purchase of a total of 3,619,190 shares of Sarvottam Cement. The eligible institutional investors applied through confidential sealed bids in the absence of an online system at present.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If the investors who apply at the cut-off price are unable to get the shares as per their demand, there is a provision to distribute them proportionately. NEPSE has implemented the same system for the allocation of shares. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement had sought permission from the Securities Board of Nepal (SEBON) to sell 6 million units of shares, which would be 12.9033 percent of the issued capital of Rs 4.65 billion of the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The company received approval from the board to sell 2.4 million units of shares to institutional investors who will own 40 percent of the shares. After selling the IPO to qualified institutional investors, the company will issue 60 percent shares to the general public.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19310', 'image' => '20231128031311_1701140144.1701063741.ipo (1).jpg', 'article_date' => '2023-11-28 15:12:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19581', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record ', 'sub_title' => '', 'summary' => 'November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. </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"">According to the Federation of Nepal Gold and Silver Dealers Associations, the precious yellow metal set a new record in the domestic market with the increase in gold prices in the international market. The federation added that hallmark gold was traded at Rs 117,400 per tola on Monday, a record in itself. Previously, the price of hallmark gold (fine) had reached Rs 117,000 per tola a month ago on October 28, 2023.</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"">Similarly, the price of standard gold (worked gold) has been determined at Rs 117,150 per tola on Tuesday against Rs 116,850 on Monday. </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"">Likewise, the price of silver remained unchanged and is being traded at Rs 1,500 per tola on Tuesday. </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19309', 'image' => '20231128021746_gold newwww.jpg', 'article_date' => '2023-11-28 14:17:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19580', 'article_category_id' => '1', 'title' => 'SSF Collects Around Rs 45 Billion from 900,000 Workers in Five Years', 'sub_title' => '', 'summary' => 'November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme.', '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"">November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the SSF, it has collected Rs 44,85,11,00,000 from the contributors. The highest amount has been collected for the old age protection scheme. During the five years, SSF has collected Rs 37,35,71,46,000 under this scheme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 1,29,27,00,000 have been collected for medical treatment under health and maternity scheme, Rs 2,48,62,00,000 for accident and disability protection scheme and dependent family protection scheme. The fund has earned a profit of Rs 2.17 billion by investing the collected amount.</span></span></span></span></p> <p><span style="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 then Prime Minister KP Sharma Oli had launched the social security scheme five years ago announcing the beginning of a new era. Since then, more than 900,000 workers and 18,000 employers have joined the fund. This participation is less than expected. The government had set a target of registering 30,000 employers by the end of the fiscal year (FY) 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Nepal Labor Force Report 2017/18, there are 7.86 million workers in the domestic labor market of Nepal including 2.6 million workers in the formal sector and 4.4 million in the informal sector. Even now, a large number of banks and financial institutions have not participated in the Social Security Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last May, the fund had introduced a special plan to list informal sector workers as well as Nepalis working abroad and workers in the agricultural sector. Among them, 466,622 people who went for foreign employment have joined the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Informal sector workers are yet to be included in the fund despite the announcement to include them. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of Social Security Fund, Kabiraj Adhikari said that the fund is trying to cover all the workers by widening the scheme amid various obstacles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders have suggested the SSF to invest the amount collected from the contributors in the productive sector. Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry, said that instead of keeping the contributors money in fixed deposits of banks, the SSF should find suitable areas and invest 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"">Binod Shrestha, chairman of the Federation of United Trade Unions, said that the contributors who do not contribute to the fund should be punished and the employers and workers who are affiliated to the fund should be given tax exemption based on their contribution.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Addressing a program organized on the occasion of the 6th Social Security Fund Day on Monday, Prime Minister Pushpa Kamal Dahal said that the SSF has started providing facilities to all the citizens at times of need.</span></span></span></span></p> <p><span style="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 the occasion, Social Security Fund honored various institutions for their contribution. The fund honored Laxmi Sunrise Bank for engaging the most contributing workers from the banking, finance and insurance sectors. Laxmi Sunrise Bank ranked first from the financial sector by having the largest number of contributors from the financial sector to the fund. Its 1,409 employees are affiliated to the fund. </span></span></span></span></p> <p><span style="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 SSF also honored Garuda Security Pvt Ltd from the human resource supply sector, Sprout Technology Services Pvt Ltd from the information technology and communication sector and Arihant Multifiber from the manufacturing sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nobel Medical College and Teaching Hospital from the health and social work sector and Sipradi Trading, which sells Tata vehicles from the wholesale and retail sales sector, were also honored. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Universal Institute of Advanced Studies and Research Center from the education sector and Infotech Services Pvt Ltd from other support sector were also recognized for their contribution. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19308', 'image' => '20231128125808_SSF (1).jpg', 'article_date' => '2023-11-28 12:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19579', 'article_category_id' => '1', 'title' => 'Aloft Kathmandu Wins Two Awards at Hospitality India Travel Awards', 'sub_title' => '', 'summary' => 'November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the 18th Hospitality India Travel Awards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Hospitality India Travel Awards.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel's General Manager Bikram Singh won the 'Best General Manager' award amid a function held in New Delhi, India on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After winning the award, Aloft’s General Manager Singh said, “It is a great honor to receive these prestigious awards. It reaffirms our commitment to provide unparalleled service and set new benchmarks in the hospitality sector.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19307', 'image' => '20231128120047_1701091113.jpg', 'article_date' => '2023-11-28 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19578', 'article_category_id' => '1', 'title' => 'Israel-Hamas Truce in Gaza Extended by Two Days', 'sub_title' => '', 'summary' => 'November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to AFP, Qatari foreign ministry spokesman Majed Al Ansari said on X, formerly Twitter: "The State of Qatar announces that, as part of the ongoing mediation, an agreement has been reached to extend the humanitarian truce for an additional two days in the Gaza Strip." </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"">Gaza is facing a humanitarian crisis since Palestine militant group Hamas launched a massive attack on Israel on October 7, killing over 1200 people and taking hostage 240 people including women, children and one Nepali national – Bipin Joshi.</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"">Ten Nepali students also lost their lives in the attack led by Hamas.</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"">Israel launched a massive attack in retaliation which has killed over ten thousand people, half of them said to be children according to media reports.</span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19306', 'image' => '20231128114449_AP23331509919159.jpg', 'article_date' => '2023-11-28 11:44:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19577', 'article_category_id' => '1', 'title' => 'DAO, Parsa Settles 438 Cases Related to Loansharking ', 'sub_title' => '', 'summary' => 'November 28: The District Administration Office (DAO) Parsa has so far settled 438 cases related to loansharking. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The District Administration Office (DAO) Parsa has so far settled 438 cases related to loansharking. Parsa's Assistant Chief District Officer, Shiba Prasad Lamsal, said they received a total of 1,321 complaints through online registration and sorted out 438 through mutual understanding, bringing justice to the victims. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Legal proceedings have been initiated in two cases after the two sides failed to reach a mutual understanding. The majority of complaints revolved around issues related to borrowing of money and land. In some cases, the victims were deceived during the loan acquisition process. Documents show that the victims were provided more loans than they actually received. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that in July of this year, the parliament passed a bill recognizing usury, primarily prevalent in the Terai region, as a criminal offence. This legislative move came in response to a five-point agreement reached between the government and victims of loan sharks in April. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19305', 'image' => '20231128110228_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2023-11-28 11:01:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19576', 'article_category_id' => '1', 'title' => ' Rice Production Declines in Sarlahi', 'sub_title' => '', 'summary' => 'Rice production in Sarlahi has witnessed a significant decrease this year, attributed primarily to the absence of timely rainfall. The Agriculture Knowledge Centre in Sarlahi has reported that the untimely weather pattern has adversely impacted rice cultivation. Additionally, crop diseases and pesticide-related issues have further contributed to the decline in production.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 27: Rice production in Sarlahi has witnessed a significant decrease this year, attributed primarily to the absence of timely rainfall. The Agriculture Knowledge Centre in Sarlahi has reported that the untimely weather pattern has adversely impacted rice cultivation. Additionally, crop diseases and pesticide-related issues have further contributed to the decline in production.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Local farmer Ruplal Chaudhary from Jabdi, Lalbandi municipality-3 expressed his disappointment with this year's rice production, stating, "We are not paid off for our hard work and investment." Chaudhary revealed that he spent Rs 10,000 on irrigation alone for paddy cultivated on six katha of land (one kattha is equivalent to 3,645 sq. ft).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Comparing the data to the previous year, where the district recorded a production of 164,145 metric tons of rice, this year has seen a substantial reduction. Farmers reported a yield as low as two maunds (approximately 38 kgs) per land plot, in contrast to the five maunds recorded in the previous year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Devanand Ray Yadav, Chief of the Agriculture Knowledge Centre, highlighted that areas with irrigation facilities maintained satisfactory production, while regions dependent on rainfall experienced a decline. Some areas also reported issues related to diseases and pesticides affecting the overall production.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Official data indicates that paddy cultivation covers approximately 46,500 hectares of land in Sarlahi. Due to the delayed onset of rains, farmers without reliable irrigation facilities had to resort to water pumping systems or containers for irrigation during rice transplantation, leading to increased farming costs. ---RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19304', 'image' => '20231128055143_collage (24).jpg', 'article_date' => '2023-11-28 05:49:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19575', 'article_category_id' => '1', 'title' => 'Sub-station Comes into Operation at Basantapur', 'sub_title' => '', 'summary' => 'A sub-station built at Basantapur in Dharmadevi municipality in Sakhuwasabha district has come into operation. ', 'content' => '<p><span style="font-size:20px"> November 27: A sub-station built at Basantapur in Dharmadevi municipality in Sakhuwasabha district has come into operation. </span></p> <p><span style="font-size:20px">The sub-station, established under the 220 KV transmission line under the Koshi Corridor, is considered to be an important project for electrification of the eastern part of the country 220 KV transmission line Koshi Corridor. </span></p> <p><span style="font-size:20px">The sub-station of 220-132-33 KV is set up by the Nepal Electricity Authority at 2,450 metres above the sea level. Two substations of similar capacity are already operative in Sunsari and Sankhuwasabha districts under the Project. </span></p> <p><span style="font-size:20px">The Indian company L and T was awarded contract to build the sub-stations at estimated USD 26.01 million. </span></p> <p><span style="font-size:20px">NEA managing director Kulman Ghising said that infrastructures have been built as a backbone for distribution and expansion of the electricity generated by the hydro power projects in the eastern part of the country especially Taplejung, Terahthum, Sankhuwasabha and Bhojpur districts to the national transmission grid. </span></p> <p><span style="font-size:20px">The sub-station at Basantapur will transmit the electricity coming from Tumlingtar and Dungesankhu in Taplejung district, it was shared. The sub-station had investment from the government of Nepal and concessional loan from Exim Bank of India. ---RSS </span></p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19303', 'image' => '20231127043525_collage (9).jpg', 'article_date' => '2023-11-27 16:34:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19574', 'article_category_id' => '1', 'title' => 'Nepal’s Market Reeling under Acute Shortage of Skilled Workers as Nepali Youths Dream of Foreign Job', 'sub_title' => '', 'summary' => 'November 27: At a time when the Nepali youths are looking for greener pastures abroad, there is a severe shortage of skilled manpower within the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: At a time when the Nepali youths are looking for greener pastures abroad, there is a severe shortage of skilled manpower within the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a shortage of skilled human resources especially in the field of gold and silver crafting business, construction, steel and grills industries, brick kilns, furniture, tailoring, scrap collecting and hair cutting jobs. These jobs are done by thousands of Indians from our neighbouring country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">These industries have to bring workers from outside due to the lack of skilled manpower in the country. This has resulted in large amount of capital flight from the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The number of Indians craftsmen, who make gold and silver jewellery, is significant in Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, the country produces around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Nepali craftsman every year, but that number of manpower is not enough. According to the president of the Federation, Manika Ratna Shakya, the gold and silver business sector with an investment of Rs 1 billion employs around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000 workers. Sixty percent of them are Nepalese and the rest are Indians. Their monthly income is up to Rs 150,000. The average monthly income of a craftsman working in the gold and silver sector is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Shakya, earlier Nepal was reliant on India for craftsmen. However, with the opening of training centers in Nepal in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2059</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the production of domestic manpower, the number of Nepalese craftsmen is increasing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Brick kilns are also struggling due to the lack of skilled. There are around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers in around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> brick factories in Nepal, of which only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent are Nepalese. The rest are Indians. According to Shankar Bahadur Chand, the founder of the Nepal Brick Industry Federation, all Indians work in the Terai region. There are some Nepali workers in the hill areas. He says that their income is between Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</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"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per month on an average. He also said that a large number of brick factories have been shut down due to economic recession. This has affected employment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal's construction sector is also facing a severe shortage of workers. According to the Federation of Contractors Association of Nepal, a large number of Indians have to be employed because there is not enough domestic workers, especially those specialized in handling equipment as well as plumbers among others.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There are about two million workers in the construction sector. The number of Indians is around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500,000. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The monthly income of those workers is above Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">FCAN President Ravi Singh informed New Business Age that Indian labourers work more hours than Nepalese. Since the Indian workers do not take vacations, take package jobs, and complete them on time, construction companies call upon Indian workers for work ranging from bridge construction to operating equipment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is also a large shortage of manpower in the grill sector of Nepal. According to Mohan Katuwal, founding president of Grill and Steel Traders Federation of Nepal, Nepalis are unable to continue working for a long time. According to him, the annual production of grill and steel sector is equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of Nepalis and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">35</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent Indian workers are employed in around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> grill and steel factories across the country. The rest of the workers in this industry are from Bangladesh and China.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The average salary of one worker is around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per month. Katuwal says that the average salary of a Nepali worker is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, but it is difficult to find Nepali workers. He said that it is easier to employ Indians than Nepali because Indians finish work quickly and do not take leaves. More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of Indians are involved in cutting hair, collecting garbage, and making mattresses. Their monthly average earning is estimated to be above Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. The government agency does not have the details of the amount these workers take to India annually.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although workers from India and other countries are earning millions by taking advantage of the lack of manpower in the Nepalese labor market, Nepalis are not showing much interest in doing these jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even the top officials of the government say that there is an extreme shortage of skilled manpower in the country. Kewal Prasad Bhandari, secretary at the Ministry of Labour, Employment and Social Security, said that there is an extreme shortage of skilled manpower in the country. Addressing a program held in the capital recently, he said that while the number of people going to work outside Nepal is increasing, there is a shortage of manpower within the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Presenting a fact sheet, he said, “Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people from Odisha state of India do plumbing work in Nepal. There is no account of their earnings. Furniture work is mostly done by workers from Bihar. Tile, marble works are all done by Biharis. Craftsmen is a gold and silver shops are from Gujrat.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, a study conducted </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years ago showed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tailoring shops operating in Kathmandu Valley had </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""> percent of workers from Darbhanga, India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We have huge demand in the market, but there is lack of skilled manpower here," Secretary Bhandari said, "Nepalis are not interested in learning skill." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Many Nepalis go to work in foreign countries on a visit visa. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">92</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of them do not have any kind of skills.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Bhandari, although there is a legal provision to send workers for foreign employment only after training, the certificate of training is submitted only to fulfill the formality. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Secretary Bhandari also revealed that highly skilled human resources are also going abroad from Nepal. He says it should be stopped. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"If we call for applications for the posts of doctors, no one will show any interest here. There is so much demand all over the world," he said. According to Bhandari, there is an extreme shortage of trained manpower in the domestic market. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19302', 'image' => '20231127030303_foreign emp.jpg', 'article_date' => '2023-11-27 15:01:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19572', 'article_category_id' => '1', 'title' => 'Banks Under Pressure due to Increase in Bad Loans', 'sub_title' => '', 'summary' => 'November 27: Bad loans of banks and financial institutions (BFIs) have been increasing due to the slump in economic activities.', '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"">November 27: Bad loans of banks and financial institutions (BFIs) have been increasing due to the slump in economic activities.</span></span></span></span></p> <p><span style="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 recovery of loans has been affected due to the decline in economic activities as well as the agitation started by defaulters for non-payment of bank loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data published by Nepal Rastra Bank, the average bad loans of banks and financial institutions have reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent as of mid-October of the current fiscal year (FY). During this period, bad loans of commercial banks have reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, while that of development banks stand at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and finance companies are struggling with non-performing loans of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8.37</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="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 mid-July of the current year, the average bad loans of banks and financial institutions was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.02</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent including </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of commercial banks, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of development banks and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of finance companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, says that bad loans have increased due to the decline in economic activities and the provisioning of concessions given in the past. </span></span></span></span></p> <p><span style="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 concessions given during the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the reduction in economic activities are now causing weak recovery of loans," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the increase in bad loans, the profits of most of the banks and financial institutions have decreased in the first quarter of the current year. Their dividend distribution capacity has also decreased.</span></span></span></span></p> <p><span style="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 Nepal Rastra Bank, the number of account holders in banks and financial institutions has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million as of mid-October. Out of this, the number of people taking loans from banks has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><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"">Compared to mid-July, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">976,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> new account holders were added in the banking system by mid-October. The number of borrowers has also increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,766</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. As of mid-October, the number of mobile banking customers has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million and internet banking customers has reached</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.625</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the interest rate of deposits and loans has become cheaper by mid-October. The central bank informed that the average interest rate on deposit in mid-October was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.90 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and the interest rate on loan was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The NRB said that the interest on deposits stood at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and interest on loan at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.24 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent in mid-July.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19301', 'image' => '20231127010957_badloan.jpg', 'article_date' => '2023-11-27 13:09:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19573', 'article_category_id' => '1', 'title' => 'Zonta Club Organises Awareness Program against VAW', 'sub_title' => '', 'summary' => 'November 27: Zonta Club Kathmandu organized an awareness program on violence against women on Sunday as part of the 16-day campaign against gender-based violence.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Zonta Club Kathmandu organized an awareness program on violence against women on Sunday as part of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">day campaign against gender-based violence. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The awareness program was held in collaboration with the Women's Wing of the Armed Police Force and Ncell. AIG Dr Chandra Prakash Gautam was the chief guest of the event, which was attended by women from Kathmandu metropolis, women members of Armed Police Force and members of Zonta Club. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders discussed various problems faced by women, legal provisions related to women in Nepal, and cyber security during the program. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As part of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">day campaign, four different videos related to child marriage, domestic violence, abuse at workplace and sexual abuse in the transport sector were screened in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">cinema halls in Kathmandu, the Zonta Club informed. Various colleges presented awareness materials through social media in coordination with Zonta Club.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19300', 'image' => '20231127011043_1701054102.3 zonta club.jpg', 'article_date' => '2023-11-27 13:10:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19571', 'article_category_id' => '1', 'title' => 'Government Commemorates Centenary of Nepal-UK Friendship Treaty 1923', 'sub_title' => '', 'summary' => 'November 27: The Ministry of Foreign Affairs organized a special programme on Sunday to commemorate 100 years of Nepal-UK Friendship Treaty of 1923 at Hanuman Dhoka, Durbar Square, Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 27: The Ministry of Foreign Affairs organized a special programme on Sunday to commemorate 100 years of Nepal-UK Friendship Treaty of 1923 at Hanuman Dhoka, Durbar Square, Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Foreign Affairs Narayan Prakash Saud delivered his remarks highlighting the significance of the Treaty and its contribution to the bilateral relations between Nepal and the United Kingdom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, UK Ambassador to Nepal, Rob Fenn, also spoke on the importance of the Treaty on the bilateral relations, reads a press statement issued by the Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prof Dr Tri Ratna Manandhar, a renowned historian and the keynote speaker of the event, delved into comprehensive discourse on the Treaty and highlighted the context and sequences of the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A collection of rare photographs and documents related to the 1923 Treaty were also displayed during the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepalese Army band performed a musical show on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event was attended by parliamentarians, ambassadors, diplomats, chiefs of security bodies, former foreign secretaries, former ambassadors, representatives from the media, among others, the press release added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19299', 'image' => '20231127125238_blank.jpg', 'article_date' => '2023-11-27 12:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19570', 'article_category_id' => '218', 'title' => 'Kumari Bank Pays Rs 80 million to its Customers under Insurance Scheme', 'sub_title' => '', 'summary' => 'November 27: Kumari Bank Limited has paid insurance amount worth Rs 80 million to 4,500 customers of the bank under the 'Family Protection Savings Account' scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Kumari Bank Limited has paid insurance amount worth Rs </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"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">customers of the bank under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank provided the amount in the last four years to its customers through a designated insurance company. The insurance amount was provided for the general check-up, hospital admission and treatment of serious illness and accidental death of customers under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the bank, the highest </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of claims under the scheme were settled in Bagmati Province. Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent claims were settled in Madhesh Province and Gandaki Province respectively and the remaining amount was paid in other provinces. The bank made the highest amount of payment of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent for hospitalization insurance.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19298', 'image' => '20231127115705_1701054387.kumari-bank-2080-08-10.jpg', 'article_date' => '2023-11-27 11:56:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19584', 'article_category_id' => '1', 'title' => 'Koshi Province Exports Tea Leaves Worth Rs 2.6 Billion in 3 Months', 'sub_title' => '', 'summary' => 'The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 28: The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Kakarvitta Plant Quarantine Office, 4,331 metric tons of tea leaves, valued at around Rs 2.6 billion, were exported to India through the east Kakarvitta point in the first three months of the current fiscal year 2080-81 BS (2023-24).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It may be noted that Jhapa, Ilam, Panchthar, and Dhanukuta are known as focal areas for tea production in eastern Nepal. There is a surge in demand for organic tea produced in Nepal in the European market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, black cardamom, ginger, and broom grass from the eastern hilly districts are exported to India via the Kakarvitta point. Data shows that in the same three-month period, the export of black cardamom amounted to approximately Rs 1.21 billion, with a quantity of 1,510 metric tons.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Black cardamom is specially cultivated in loamy soils found in Ilam, Panchthar, Tehrathum, Dhankuta, Sankhuwasabha, Bhojpur, and Khotang districts. It has a high market value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the Kakarvitta point recorded the export of 1,793 metric tons of ginger, equivalent to some Rs 230 million during the same period. Prior to export, ginger undergoes processing in Jhapa and Ilam districts to ensure its quality.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to these, there is a significant demand for broom grass in India and Bangladesh. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Chandeshwor Thakur, the information officer at the Plant Quarantine Office, 2,417 metric tons of broom grass worth Rs 290 million was exported, in the first three months of the current fiscal. This plant is primarily cultivated in the steep hills of Nepal. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19312', 'image' => '20231128042115_collage (10).jpg', 'article_date' => '2023-11-28 16:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19583', 'article_category_id' => '1', 'title' => 'Experts Urge Stakeholders to Capitalise on Open Border between Nepal and India', 'sub_title' => '', 'summary' => 'November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the open border like that of Nepal and India is rare in other countries, experts have suggested the neighbouring countries to capitalize on it for the prosperity of both the sides. So far, no concrete initiative has been taken in this regard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Misuse of the open border has resulted in smuggling of goods, drug trafficking, illegal and fake currency trading, and human trafficking which have become a matter of concern for both the sides. India's concern about the possibility of terrorist activities against it through the open border with Nepal is not a new issue. Both countries have promised not to allow such activities against each other from their respective territories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of the Madhesh Province chapter of the Federation of Nepalese Chambers of Commerce and Industry, says that there has not been enough initiative to utilize the economic and social opportunities of the open border.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Nepal and India share more than 1700 kilometers of open border. If it is used properly, the two-way economic and social life can be improved," Temani, who is also the chairman of the Nepal-India Socioeconomic Forum, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He claimed that if the border is properly managed, it can boost the economy of the border area. He pointed out the need for efforts at the government level. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, who promoted the concept of 'Happy Border' when he was the leader of the Birgunj Chamber of Commerce and Industry, is now the Chairman of the Trade Committee under the Confederation of Nepalese Chamber of Commerce and Industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the economic and social life of both the sides can be improved by capitlising on the social and religious ties between Nepal and India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Only if the residents living in the border areas are happy and satisfied, the problems seen in the open border will be solved. To make people's lives prosperous and happy, there is a need for meaningful coordination between the private sector and intergovernmental bodies," said Gupta.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders say that since Birgunj is a commercial and industrial hub, solving the problems seen in Nepal-India trade should be the priority.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The private sector has also been complaining about smuggling of goods through the open border while the authorities have been harassing the local businessmen in the name of curbing such illegal activities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Temani sees India's role as important in the development of industry and trade in Nepal. He said that even though Nepal-India trade relations are guided by trade agreements, there are problems from time to time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that a solution should be found based on understanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders claim that solving the problems seen in trade will increase trade and since Nepal is one of the main markets for India's export trade, it will benefit India. Gupta thinks that India, which is making massive progress in agriculture, can support the development of Nepal's agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"India can provide technical support for improving Nepal's agricultural system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devisahay Meena, the Indian Consul General in Birgunj, said that there is a need to further strengthen the economic and social relations between Nepal and India. In the program held in Birganj, Meena expressed India’s commitment to coordinate the best possible way for the overall development of the border area. </span></span></span></p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19311', 'image' => '20231128031437_Fl_600x600.jpg', 'article_date' => '2023-11-28 15:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19582', 'article_category_id' => '1', 'title' => 'Cut-off Price of Sarvottam Cement’s IPO Fixed at Rs 401 per Unit', 'sub_title' => '', 'summary' => 'November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit. Nepal Stock Exchange (NEPSE) opened the confidential sealed bids received from eligible institutional investors on the morning of November 27 and fixed the cut-off price at Rs 401.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information officer of NEPSE, Murahari Parajuli, informed that the cut-off price is set so that all the issued shares will be distributed to eligible institutional investors. He informed that after determining the cut-off price, all the applicants who bid an equivalent amount or more than the cut-off price will be allotted the shares as per the demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement sold 2.4 million shares to eligible institutional investors in the first phase from November 22 to 26. Although the bid was submitted with a maximum price of 406 rupees, the cut-off price was maintained at 401. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, Kumari Capital and two schemes under it, Kumari Equity Fund and Kumari Dhanbriddhi Yojana submitted the highest bid at the price of Rs 406 per share. NEPSE informed that Kumari Capital applied for 5,000 shares, Kumari Equity Fund operated under Kumari Capital applied for 15,000 shares and Kumari Dhanbriddhi Yojana applied for 20,000 shares. According to NEPSE, Citizen Investment Fund submitted a bid for the purchase of 400,000 shares at a price of Rs 405 per share. Apart from these, other applicants submitted bids of Rs 401 per share.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, 41 institutional investors submitted secret sealed bids for the purchase of a total of 3,619,190 shares of Sarvottam Cement. The eligible institutional investors applied through confidential sealed bids in the absence of an online system at present.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If the investors who apply at the cut-off price are unable to get the shares as per their demand, there is a provision to distribute them proportionately. NEPSE has implemented the same system for the allocation of shares. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement had sought permission from the Securities Board of Nepal (SEBON) to sell 6 million units of shares, which would be 12.9033 percent of the issued capital of Rs 4.65 billion of the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The company received approval from the board to sell 2.4 million units of shares to institutional investors who will own 40 percent of the shares. After selling the IPO to qualified institutional investors, the company will issue 60 percent shares to the general public.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19310', 'image' => '20231128031311_1701140144.1701063741.ipo (1).jpg', 'article_date' => '2023-11-28 15:12:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19581', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record ', 'sub_title' => '', 'summary' => 'November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. </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"">According to the Federation of Nepal Gold and Silver Dealers Associations, the precious yellow metal set a new record in the domestic market with the increase in gold prices in the international market. The federation added that hallmark gold was traded at Rs 117,400 per tola on Monday, a record in itself. Previously, the price of hallmark gold (fine) had reached Rs 117,000 per tola a month ago on October 28, 2023.</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"">Similarly, the price of standard gold (worked gold) has been determined at Rs 117,150 per tola on Tuesday against Rs 116,850 on Monday. </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"">Likewise, the price of silver remained unchanged and is being traded at Rs 1,500 per tola on Tuesday. </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19309', 'image' => '20231128021746_gold newwww.jpg', 'article_date' => '2023-11-28 14:17:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19580', 'article_category_id' => '1', 'title' => 'SSF Collects Around Rs 45 Billion from 900,000 Workers in Five Years', 'sub_title' => '', 'summary' => 'November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme.', '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"">November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the SSF, it has collected Rs 44,85,11,00,000 from the contributors. The highest amount has been collected for the old age protection scheme. During the five years, SSF has collected Rs 37,35,71,46,000 under this scheme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 1,29,27,00,000 have been collected for medical treatment under health and maternity scheme, Rs 2,48,62,00,000 for accident and disability protection scheme and dependent family protection scheme. The fund has earned a profit of Rs 2.17 billion by investing the collected amount.</span></span></span></span></p> <p><span style="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 then Prime Minister KP Sharma Oli had launched the social security scheme five years ago announcing the beginning of a new era. Since then, more than 900,000 workers and 18,000 employers have joined the fund. This participation is less than expected. The government had set a target of registering 30,000 employers by the end of the fiscal year (FY) 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Nepal Labor Force Report 2017/18, there are 7.86 million workers in the domestic labor market of Nepal including 2.6 million workers in the formal sector and 4.4 million in the informal sector. Even now, a large number of banks and financial institutions have not participated in the Social Security Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last May, the fund had introduced a special plan to list informal sector workers as well as Nepalis working abroad and workers in the agricultural sector. Among them, 466,622 people who went for foreign employment have joined the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Informal sector workers are yet to be included in the fund despite the announcement to include them. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of Social Security Fund, Kabiraj Adhikari said that the fund is trying to cover all the workers by widening the scheme amid various obstacles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders have suggested the SSF to invest the amount collected from the contributors in the productive sector. Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry, said that instead of keeping the contributors money in fixed deposits of banks, the SSF should find suitable areas and invest 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"">Binod Shrestha, chairman of the Federation of United Trade Unions, said that the contributors who do not contribute to the fund should be punished and the employers and workers who are affiliated to the fund should be given tax exemption based on their contribution.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Addressing a program organized on the occasion of the 6th Social Security Fund Day on Monday, Prime Minister Pushpa Kamal Dahal said that the SSF has started providing facilities to all the citizens at times of need.</span></span></span></span></p> <p><span style="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 the occasion, Social Security Fund honored various institutions for their contribution. The fund honored Laxmi Sunrise Bank for engaging the most contributing workers from the banking, finance and insurance sectors. Laxmi Sunrise Bank ranked first from the financial sector by having the largest number of contributors from the financial sector to the fund. Its 1,409 employees are affiliated to the fund. </span></span></span></span></p> <p><span style="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 SSF also honored Garuda Security Pvt Ltd from the human resource supply sector, Sprout Technology Services Pvt Ltd from the information technology and communication sector and Arihant Multifiber from the manufacturing sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nobel Medical College and Teaching Hospital from the health and social work sector and Sipradi Trading, which sells Tata vehicles from the wholesale and retail sales sector, were also honored. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Universal Institute of Advanced Studies and Research Center from the education sector and Infotech Services Pvt Ltd from other support sector were also recognized for their contribution. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19308', 'image' => '20231128125808_SSF (1).jpg', 'article_date' => '2023-11-28 12:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19579', 'article_category_id' => '1', 'title' => 'Aloft Kathmandu Wins Two Awards at Hospitality India Travel Awards', 'sub_title' => '', 'summary' => 'November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the 18th Hospitality India Travel Awards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Hospitality India Travel Awards.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel's General Manager Bikram Singh won the 'Best General Manager' award amid a function held in New Delhi, India on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After winning the award, Aloft’s General Manager Singh said, “It is a great honor to receive these prestigious awards. It reaffirms our commitment to provide unparalleled service and set new benchmarks in the hospitality sector.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19307', 'image' => '20231128120047_1701091113.jpg', 'article_date' => '2023-11-28 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19578', 'article_category_id' => '1', 'title' => 'Israel-Hamas Truce in Gaza Extended by Two Days', 'sub_title' => '', 'summary' => 'November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to AFP, Qatari foreign ministry spokesman Majed Al Ansari said on X, formerly Twitter: "The State of Qatar announces that, as part of the ongoing mediation, an agreement has been reached to extend the humanitarian truce for an additional two days in the Gaza Strip." </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"">Gaza is facing a humanitarian crisis since Palestine militant group Hamas launched a massive attack on Israel on October 7, killing over 1200 people and taking hostage 240 people including women, children and one Nepali national – Bipin Joshi.</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"">Ten Nepali students also lost their lives in the attack led by Hamas.</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"">Israel launched a massive attack in retaliation which has killed over ten thousand people, half of them said to be children according to media reports.</span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19306', 'image' => '20231128114449_AP23331509919159.jpg', 'article_date' => '2023-11-28 11:44:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19577', 'article_category_id' => '1', 'title' => 'DAO, Parsa Settles 438 Cases Related to Loansharking ', 'sub_title' => '', 'summary' => 'November 28: The District Administration Office (DAO) Parsa has so far settled 438 cases related to loansharking. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The District Administration Office (DAO) Parsa has so far settled 438 cases related to loansharking. Parsa's Assistant Chief District Officer, Shiba Prasad Lamsal, said they received a total of 1,321 complaints through online registration and sorted out 438 through mutual understanding, bringing justice to the victims. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Legal proceedings have been initiated in two cases after the two sides failed to reach a mutual understanding. The majority of complaints revolved around issues related to borrowing of money and land. In some cases, the victims were deceived during the loan acquisition process. Documents show that the victims were provided more loans than they actually received. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that in July of this year, the parliament passed a bill recognizing usury, primarily prevalent in the Terai region, as a criminal offence. This legislative move came in response to a five-point agreement reached between the government and victims of loan sharks in April. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19305', 'image' => '20231128110228_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2023-11-28 11:01:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19576', 'article_category_id' => '1', 'title' => ' Rice Production Declines in Sarlahi', 'sub_title' => '', 'summary' => 'Rice production in Sarlahi has witnessed a significant decrease this year, attributed primarily to the absence of timely rainfall. The Agriculture Knowledge Centre in Sarlahi has reported that the untimely weather pattern has adversely impacted rice cultivation. Additionally, crop diseases and pesticide-related issues have further contributed to the decline in production.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 27: Rice production in Sarlahi has witnessed a significant decrease this year, attributed primarily to the absence of timely rainfall. The Agriculture Knowledge Centre in Sarlahi has reported that the untimely weather pattern has adversely impacted rice cultivation. Additionally, crop diseases and pesticide-related issues have further contributed to the decline in production.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Local farmer Ruplal Chaudhary from Jabdi, Lalbandi municipality-3 expressed his disappointment with this year's rice production, stating, "We are not paid off for our hard work and investment." Chaudhary revealed that he spent Rs 10,000 on irrigation alone for paddy cultivated on six katha of land (one kattha is equivalent to 3,645 sq. ft).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Comparing the data to the previous year, where the district recorded a production of 164,145 metric tons of rice, this year has seen a substantial reduction. Farmers reported a yield as low as two maunds (approximately 38 kgs) per land plot, in contrast to the five maunds recorded in the previous year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Devanand Ray Yadav, Chief of the Agriculture Knowledge Centre, highlighted that areas with irrigation facilities maintained satisfactory production, while regions dependent on rainfall experienced a decline. Some areas also reported issues related to diseases and pesticides affecting the overall production.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Official data indicates that paddy cultivation covers approximately 46,500 hectares of land in Sarlahi. Due to the delayed onset of rains, farmers without reliable irrigation facilities had to resort to water pumping systems or containers for irrigation during rice transplantation, leading to increased farming costs. ---RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19304', 'image' => '20231128055143_collage (24).jpg', 'article_date' => '2023-11-28 05:49:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19575', 'article_category_id' => '1', 'title' => 'Sub-station Comes into Operation at Basantapur', 'sub_title' => '', 'summary' => 'A sub-station built at Basantapur in Dharmadevi municipality in Sakhuwasabha district has come into operation. ', 'content' => '<p><span style="font-size:20px"> November 27: A sub-station built at Basantapur in Dharmadevi municipality in Sakhuwasabha district has come into operation. </span></p> <p><span style="font-size:20px">The sub-station, established under the 220 KV transmission line under the Koshi Corridor, is considered to be an important project for electrification of the eastern part of the country 220 KV transmission line Koshi Corridor. </span></p> <p><span style="font-size:20px">The sub-station of 220-132-33 KV is set up by the Nepal Electricity Authority at 2,450 metres above the sea level. Two substations of similar capacity are already operative in Sunsari and Sankhuwasabha districts under the Project. </span></p> <p><span style="font-size:20px">The Indian company L and T was awarded contract to build the sub-stations at estimated USD 26.01 million. </span></p> <p><span style="font-size:20px">NEA managing director Kulman Ghising said that infrastructures have been built as a backbone for distribution and expansion of the electricity generated by the hydro power projects in the eastern part of the country especially Taplejung, Terahthum, Sankhuwasabha and Bhojpur districts to the national transmission grid. </span></p> <p><span style="font-size:20px">The sub-station at Basantapur will transmit the electricity coming from Tumlingtar and Dungesankhu in Taplejung district, it was shared. The sub-station had investment from the government of Nepal and concessional loan from Exim Bank of India. ---RSS </span></p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19303', 'image' => '20231127043525_collage (9).jpg', 'article_date' => '2023-11-27 16:34:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19574', 'article_category_id' => '1', 'title' => 'Nepal’s Market Reeling under Acute Shortage of Skilled Workers as Nepali Youths Dream of Foreign Job', 'sub_title' => '', 'summary' => 'November 27: At a time when the Nepali youths are looking for greener pastures abroad, there is a severe shortage of skilled manpower within the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: At a time when the Nepali youths are looking for greener pastures abroad, there is a severe shortage of skilled manpower within the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a shortage of skilled human resources especially in the field of gold and silver crafting business, construction, steel and grills industries, brick kilns, furniture, tailoring, scrap collecting and hair cutting jobs. These jobs are done by thousands of Indians from our neighbouring country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">These industries have to bring workers from outside due to the lack of skilled manpower in the country. This has resulted in large amount of capital flight from the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The number of Indians craftsmen, who make gold and silver jewellery, is significant in Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, the country produces around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Nepali craftsman every year, but that number of manpower is not enough. According to the president of the Federation, Manika Ratna Shakya, the gold and silver business sector with an investment of Rs 1 billion employs around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000 workers. Sixty percent of them are Nepalese and the rest are Indians. Their monthly income is up to Rs 150,000. The average monthly income of a craftsman working in the gold and silver sector is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Shakya, earlier Nepal was reliant on India for craftsmen. However, with the opening of training centers in Nepal in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2059</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the production of domestic manpower, the number of Nepalese craftsmen is increasing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Brick kilns are also struggling due to the lack of skilled. There are around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers in around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> brick factories in Nepal, of which only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent are Nepalese. The rest are Indians. According to Shankar Bahadur Chand, the founder of the Nepal Brick Industry Federation, all Indians work in the Terai region. There are some Nepali workers in the hill areas. He says that their income is between Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</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"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per month on an average. He also said that a large number of brick factories have been shut down due to economic recession. This has affected employment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal's construction sector is also facing a severe shortage of workers. According to the Federation of Contractors Association of Nepal, a large number of Indians have to be employed because there is not enough domestic workers, especially those specialized in handling equipment as well as plumbers among others.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There are about two million workers in the construction sector. The number of Indians is around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500,000. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The monthly income of those workers is above Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">FCAN President Ravi Singh informed New Business Age that Indian labourers work more hours than Nepalese. Since the Indian workers do not take vacations, take package jobs, and complete them on time, construction companies call upon Indian workers for work ranging from bridge construction to operating equipment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is also a large shortage of manpower in the grill sector of Nepal. According to Mohan Katuwal, founding president of Grill and Steel Traders Federation of Nepal, Nepalis are unable to continue working for a long time. According to him, the annual production of grill and steel sector is equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of Nepalis and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">35</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent Indian workers are employed in around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> grill and steel factories across the country. The rest of the workers in this industry are from Bangladesh and China.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The average salary of one worker is around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per month. Katuwal says that the average salary of a Nepali worker is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, but it is difficult to find Nepali workers. He said that it is easier to employ Indians than Nepali because Indians finish work quickly and do not take leaves. More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of Indians are involved in cutting hair, collecting garbage, and making mattresses. Their monthly average earning is estimated to be above Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. The government agency does not have the details of the amount these workers take to India annually.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although workers from India and other countries are earning millions by taking advantage of the lack of manpower in the Nepalese labor market, Nepalis are not showing much interest in doing these jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even the top officials of the government say that there is an extreme shortage of skilled manpower in the country. Kewal Prasad Bhandari, secretary at the Ministry of Labour, Employment and Social Security, said that there is an extreme shortage of skilled manpower in the country. Addressing a program held in the capital recently, he said that while the number of people going to work outside Nepal is increasing, there is a shortage of manpower within the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Presenting a fact sheet, he said, “Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people from Odisha state of India do plumbing work in Nepal. There is no account of their earnings. Furniture work is mostly done by workers from Bihar. Tile, marble works are all done by Biharis. Craftsmen is a gold and silver shops are from Gujrat.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, a study conducted </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years ago showed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tailoring shops operating in Kathmandu Valley had </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""> percent of workers from Darbhanga, India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We have huge demand in the market, but there is lack of skilled manpower here," Secretary Bhandari said, "Nepalis are not interested in learning skill." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Many Nepalis go to work in foreign countries on a visit visa. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">92</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of them do not have any kind of skills.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Bhandari, although there is a legal provision to send workers for foreign employment only after training, the certificate of training is submitted only to fulfill the formality. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Secretary Bhandari also revealed that highly skilled human resources are also going abroad from Nepal. He says it should be stopped. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"If we call for applications for the posts of doctors, no one will show any interest here. There is so much demand all over the world," he said. According to Bhandari, there is an extreme shortage of trained manpower in the domestic market. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19302', 'image' => '20231127030303_foreign emp.jpg', 'article_date' => '2023-11-27 15:01:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19572', 'article_category_id' => '1', 'title' => 'Banks Under Pressure due to Increase in Bad Loans', 'sub_title' => '', 'summary' => 'November 27: Bad loans of banks and financial institutions (BFIs) have been increasing due to the slump in economic activities.', '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"">November 27: Bad loans of banks and financial institutions (BFIs) have been increasing due to the slump in economic activities.</span></span></span></span></p> <p><span style="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 recovery of loans has been affected due to the decline in economic activities as well as the agitation started by defaulters for non-payment of bank loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data published by Nepal Rastra Bank, the average bad loans of banks and financial institutions have reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent as of mid-October of the current fiscal year (FY). During this period, bad loans of commercial banks have reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, while that of development banks stand at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and finance companies are struggling with non-performing loans of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8.37</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="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 mid-July of the current year, the average bad loans of banks and financial institutions was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.02</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent including </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of commercial banks, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of development banks and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of finance companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, says that bad loans have increased due to the decline in economic activities and the provisioning of concessions given in the past. </span></span></span></span></p> <p><span style="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 concessions given during the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the reduction in economic activities are now causing weak recovery of loans," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the increase in bad loans, the profits of most of the banks and financial institutions have decreased in the first quarter of the current year. Their dividend distribution capacity has also decreased.</span></span></span></span></p> <p><span style="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 Nepal Rastra Bank, the number of account holders in banks and financial institutions has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million as of mid-October. Out of this, the number of people taking loans from banks has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><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"">Compared to mid-July, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">976,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> new account holders were added in the banking system by mid-October. The number of borrowers has also increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,766</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. As of mid-October, the number of mobile banking customers has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million and internet banking customers has reached</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.625</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the interest rate of deposits and loans has become cheaper by mid-October. The central bank informed that the average interest rate on deposit in mid-October was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.90 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and the interest rate on loan was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The NRB said that the interest on deposits stood at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and interest on loan at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.24 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent in mid-July.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19301', 'image' => '20231127010957_badloan.jpg', 'article_date' => '2023-11-27 13:09:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19573', 'article_category_id' => '1', 'title' => 'Zonta Club Organises Awareness Program against VAW', 'sub_title' => '', 'summary' => 'November 27: Zonta Club Kathmandu organized an awareness program on violence against women on Sunday as part of the 16-day campaign against gender-based violence.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Zonta Club Kathmandu organized an awareness program on violence against women on Sunday as part of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">day campaign against gender-based violence. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The awareness program was held in collaboration with the Women's Wing of the Armed Police Force and Ncell. AIG Dr Chandra Prakash Gautam was the chief guest of the event, which was attended by women from Kathmandu metropolis, women members of Armed Police Force and members of Zonta Club. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders discussed various problems faced by women, legal provisions related to women in Nepal, and cyber security during the program. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As part of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">day campaign, four different videos related to child marriage, domestic violence, abuse at workplace and sexual abuse in the transport sector were screened in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">cinema halls in Kathmandu, the Zonta Club informed. Various colleges presented awareness materials through social media in coordination with Zonta Club.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19300', 'image' => '20231127011043_1701054102.3 zonta club.jpg', 'article_date' => '2023-11-27 13:10:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19571', 'article_category_id' => '1', 'title' => 'Government Commemorates Centenary of Nepal-UK Friendship Treaty 1923', 'sub_title' => '', 'summary' => 'November 27: The Ministry of Foreign Affairs organized a special programme on Sunday to commemorate 100 years of Nepal-UK Friendship Treaty of 1923 at Hanuman Dhoka, Durbar Square, Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 27: The Ministry of Foreign Affairs organized a special programme on Sunday to commemorate 100 years of Nepal-UK Friendship Treaty of 1923 at Hanuman Dhoka, Durbar Square, Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Foreign Affairs Narayan Prakash Saud delivered his remarks highlighting the significance of the Treaty and its contribution to the bilateral relations between Nepal and the United Kingdom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, UK Ambassador to Nepal, Rob Fenn, also spoke on the importance of the Treaty on the bilateral relations, reads a press statement issued by the Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prof Dr Tri Ratna Manandhar, a renowned historian and the keynote speaker of the event, delved into comprehensive discourse on the Treaty and highlighted the context and sequences of the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A collection of rare photographs and documents related to the 1923 Treaty were also displayed during the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepalese Army band performed a musical show on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event was attended by parliamentarians, ambassadors, diplomats, chiefs of security bodies, former foreign secretaries, former ambassadors, representatives from the media, among others, the press release added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19299', 'image' => '20231127125238_blank.jpg', 'article_date' => '2023-11-27 12:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19570', 'article_category_id' => '218', 'title' => 'Kumari Bank Pays Rs 80 million to its Customers under Insurance Scheme', 'sub_title' => '', 'summary' => 'November 27: Kumari Bank Limited has paid insurance amount worth Rs 80 million to 4,500 customers of the bank under the 'Family Protection Savings Account' scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Kumari Bank Limited has paid insurance amount worth Rs </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"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">customers of the bank under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank provided the amount in the last four years to its customers through a designated insurance company. The insurance amount was provided for the general check-up, hospital admission and treatment of serious illness and accidental death of customers under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the bank, the highest </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of claims under the scheme were settled in Bagmati Province. Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent claims were settled in Madhesh Province and Gandaki Province respectively and the remaining amount was paid in other provinces. The bank made the highest amount of payment of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent for hospitalization insurance.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19298', 'image' => '20231127115705_1701054387.kumari-bank-2080-08-10.jpg', 'article_date' => '2023-11-27 11:56:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19584', 'article_category_id' => '1', 'title' => 'Koshi Province Exports Tea Leaves Worth Rs 2.6 Billion in 3 Months', 'sub_title' => '', 'summary' => 'The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 28: The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Kakarvitta Plant Quarantine Office, 4,331 metric tons of tea leaves, valued at around Rs 2.6 billion, were exported to India through the east Kakarvitta point in the first three months of the current fiscal year 2080-81 BS (2023-24).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It may be noted that Jhapa, Ilam, Panchthar, and Dhanukuta are known as focal areas for tea production in eastern Nepal. There is a surge in demand for organic tea produced in Nepal in the European market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, black cardamom, ginger, and broom grass from the eastern hilly districts are exported to India via the Kakarvitta point. Data shows that in the same three-month period, the export of black cardamom amounted to approximately Rs 1.21 billion, with a quantity of 1,510 metric tons.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Black cardamom is specially cultivated in loamy soils found in Ilam, Panchthar, Tehrathum, Dhankuta, Sankhuwasabha, Bhojpur, and Khotang districts. It has a high market value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the Kakarvitta point recorded the export of 1,793 metric tons of ginger, equivalent to some Rs 230 million during the same period. Prior to export, ginger undergoes processing in Jhapa and Ilam districts to ensure its quality.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to these, there is a significant demand for broom grass in India and Bangladesh. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Chandeshwor Thakur, the information officer at the Plant Quarantine Office, 2,417 metric tons of broom grass worth Rs 290 million was exported, in the first three months of the current fiscal. This plant is primarily cultivated in the steep hills of Nepal. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19312', 'image' => '20231128042115_collage (10).jpg', 'article_date' => '2023-11-28 16:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19583', 'article_category_id' => '1', 'title' => 'Experts Urge Stakeholders to Capitalise on Open Border between Nepal and India', 'sub_title' => '', 'summary' => 'November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the open border like that of Nepal and India is rare in other countries, experts have suggested the neighbouring countries to capitalize on it for the prosperity of both the sides. So far, no concrete initiative has been taken in this regard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Misuse of the open border has resulted in smuggling of goods, drug trafficking, illegal and fake currency trading, and human trafficking which have become a matter of concern for both the sides. India's concern about the possibility of terrorist activities against it through the open border with Nepal is not a new issue. Both countries have promised not to allow such activities against each other from their respective territories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of the Madhesh Province chapter of the Federation of Nepalese Chambers of Commerce and Industry, says that there has not been enough initiative to utilize the economic and social opportunities of the open border.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Nepal and India share more than 1700 kilometers of open border. If it is used properly, the two-way economic and social life can be improved," Temani, who is also the chairman of the Nepal-India Socioeconomic Forum, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He claimed that if the border is properly managed, it can boost the economy of the border area. He pointed out the need for efforts at the government level. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, who promoted the concept of 'Happy Border' when he was the leader of the Birgunj Chamber of Commerce and Industry, is now the Chairman of the Trade Committee under the Confederation of Nepalese Chamber of Commerce and Industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the economic and social life of both the sides can be improved by capitlising on the social and religious ties between Nepal and India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Only if the residents living in the border areas are happy and satisfied, the problems seen in the open border will be solved. To make people's lives prosperous and happy, there is a need for meaningful coordination between the private sector and intergovernmental bodies," said Gupta.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders say that since Birgunj is a commercial and industrial hub, solving the problems seen in Nepal-India trade should be the priority.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The private sector has also been complaining about smuggling of goods through the open border while the authorities have been harassing the local businessmen in the name of curbing such illegal activities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Temani sees India's role as important in the development of industry and trade in Nepal. He said that even though Nepal-India trade relations are guided by trade agreements, there are problems from time to time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that a solution should be found based on understanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders claim that solving the problems seen in trade will increase trade and since Nepal is one of the main markets for India's export trade, it will benefit India. Gupta thinks that India, which is making massive progress in agriculture, can support the development of Nepal's agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"India can provide technical support for improving Nepal's agricultural system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devisahay Meena, the Indian Consul General in Birgunj, said that there is a need to further strengthen the economic and social relations between Nepal and India. In the program held in Birganj, Meena expressed India’s commitment to coordinate the best possible way for the overall development of the border area. </span></span></span></p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19311', 'image' => '20231128031437_Fl_600x600.jpg', 'article_date' => '2023-11-28 15:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19582', 'article_category_id' => '1', 'title' => 'Cut-off Price of Sarvottam Cement’s IPO Fixed at Rs 401 per Unit', 'sub_title' => '', 'summary' => 'November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit. Nepal Stock Exchange (NEPSE) opened the confidential sealed bids received from eligible institutional investors on the morning of November 27 and fixed the cut-off price at Rs 401.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information officer of NEPSE, Murahari Parajuli, informed that the cut-off price is set so that all the issued shares will be distributed to eligible institutional investors. He informed that after determining the cut-off price, all the applicants who bid an equivalent amount or more than the cut-off price will be allotted the shares as per the demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement sold 2.4 million shares to eligible institutional investors in the first phase from November 22 to 26. Although the bid was submitted with a maximum price of 406 rupees, the cut-off price was maintained at 401. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, Kumari Capital and two schemes under it, Kumari Equity Fund and Kumari Dhanbriddhi Yojana submitted the highest bid at the price of Rs 406 per share. NEPSE informed that Kumari Capital applied for 5,000 shares, Kumari Equity Fund operated under Kumari Capital applied for 15,000 shares and Kumari Dhanbriddhi Yojana applied for 20,000 shares. According to NEPSE, Citizen Investment Fund submitted a bid for the purchase of 400,000 shares at a price of Rs 405 per share. Apart from these, other applicants submitted bids of Rs 401 per share.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, 41 institutional investors submitted secret sealed bids for the purchase of a total of 3,619,190 shares of Sarvottam Cement. The eligible institutional investors applied through confidential sealed bids in the absence of an online system at present.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If the investors who apply at the cut-off price are unable to get the shares as per their demand, there is a provision to distribute them proportionately. NEPSE has implemented the same system for the allocation of shares. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement had sought permission from the Securities Board of Nepal (SEBON) to sell 6 million units of shares, which would be 12.9033 percent of the issued capital of Rs 4.65 billion of the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The company received approval from the board to sell 2.4 million units of shares to institutional investors who will own 40 percent of the shares. After selling the IPO to qualified institutional investors, the company will issue 60 percent shares to the general public.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19310', 'image' => '20231128031311_1701140144.1701063741.ipo (1).jpg', 'article_date' => '2023-11-28 15:12:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19581', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record ', 'sub_title' => '', 'summary' => 'November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. </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"">According to the Federation of Nepal Gold and Silver Dealers Associations, the precious yellow metal set a new record in the domestic market with the increase in gold prices in the international market. The federation added that hallmark gold was traded at Rs 117,400 per tola on Monday, a record in itself. Previously, the price of hallmark gold (fine) had reached Rs 117,000 per tola a month ago on October 28, 2023.</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"">Similarly, the price of standard gold (worked gold) has been determined at Rs 117,150 per tola on Tuesday against Rs 116,850 on Monday. </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"">Likewise, the price of silver remained unchanged and is being traded at Rs 1,500 per tola on Tuesday. </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19309', 'image' => '20231128021746_gold newwww.jpg', 'article_date' => '2023-11-28 14:17:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19580', 'article_category_id' => '1', 'title' => 'SSF Collects Around Rs 45 Billion from 900,000 Workers in Five Years', 'sub_title' => '', 'summary' => 'November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme.', '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"">November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the SSF, it has collected Rs 44,85,11,00,000 from the contributors. The highest amount has been collected for the old age protection scheme. During the five years, SSF has collected Rs 37,35,71,46,000 under this scheme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 1,29,27,00,000 have been collected for medical treatment under health and maternity scheme, Rs 2,48,62,00,000 for accident and disability protection scheme and dependent family protection scheme. The fund has earned a profit of Rs 2.17 billion by investing the collected amount.</span></span></span></span></p> <p><span style="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 then Prime Minister KP Sharma Oli had launched the social security scheme five years ago announcing the beginning of a new era. Since then, more than 900,000 workers and 18,000 employers have joined the fund. This participation is less than expected. The government had set a target of registering 30,000 employers by the end of the fiscal year (FY) 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Nepal Labor Force Report 2017/18, there are 7.86 million workers in the domestic labor market of Nepal including 2.6 million workers in the formal sector and 4.4 million in the informal sector. Even now, a large number of banks and financial institutions have not participated in the Social Security Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last May, the fund had introduced a special plan to list informal sector workers as well as Nepalis working abroad and workers in the agricultural sector. Among them, 466,622 people who went for foreign employment have joined the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Informal sector workers are yet to be included in the fund despite the announcement to include them. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of Social Security Fund, Kabiraj Adhikari said that the fund is trying to cover all the workers by widening the scheme amid various obstacles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders have suggested the SSF to invest the amount collected from the contributors in the productive sector. Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry, said that instead of keeping the contributors money in fixed deposits of banks, the SSF should find suitable areas and invest 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"">Binod Shrestha, chairman of the Federation of United Trade Unions, said that the contributors who do not contribute to the fund should be punished and the employers and workers who are affiliated to the fund should be given tax exemption based on their contribution.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Addressing a program organized on the occasion of the 6th Social Security Fund Day on Monday, Prime Minister Pushpa Kamal Dahal said that the SSF has started providing facilities to all the citizens at times of need.</span></span></span></span></p> <p><span style="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 the occasion, Social Security Fund honored various institutions for their contribution. The fund honored Laxmi Sunrise Bank for engaging the most contributing workers from the banking, finance and insurance sectors. Laxmi Sunrise Bank ranked first from the financial sector by having the largest number of contributors from the financial sector to the fund. Its 1,409 employees are affiliated to the fund. </span></span></span></span></p> <p><span style="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 SSF also honored Garuda Security Pvt Ltd from the human resource supply sector, Sprout Technology Services Pvt Ltd from the information technology and communication sector and Arihant Multifiber from the manufacturing sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nobel Medical College and Teaching Hospital from the health and social work sector and Sipradi Trading, which sells Tata vehicles from the wholesale and retail sales sector, were also honored. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Universal Institute of Advanced Studies and Research Center from the education sector and Infotech Services Pvt Ltd from other support sector were also recognized for their contribution. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19308', 'image' => '20231128125808_SSF (1).jpg', 'article_date' => '2023-11-28 12:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19579', 'article_category_id' => '1', 'title' => 'Aloft Kathmandu Wins Two Awards at Hospitality India Travel Awards', 'sub_title' => '', 'summary' => 'November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the 18th Hospitality India Travel Awards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Hospitality India Travel Awards.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel's General Manager Bikram Singh won the 'Best General Manager' award amid a function held in New Delhi, India on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After winning the award, Aloft’s General Manager Singh said, “It is a great honor to receive these prestigious awards. It reaffirms our commitment to provide unparalleled service and set new benchmarks in the hospitality sector.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19307', 'image' => '20231128120047_1701091113.jpg', 'article_date' => '2023-11-28 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19578', 'article_category_id' => '1', 'title' => 'Israel-Hamas Truce in Gaza Extended by Two Days', 'sub_title' => '', 'summary' => 'November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to AFP, Qatari foreign ministry spokesman Majed Al Ansari said on X, formerly Twitter: "The State of Qatar announces that, as part of the ongoing mediation, an agreement has been reached to extend the humanitarian truce for an additional two days in the Gaza Strip." </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"">Gaza is facing a humanitarian crisis since Palestine militant group Hamas launched a massive attack on Israel on October 7, killing over 1200 people and taking hostage 240 people including women, children and one Nepali national – Bipin Joshi.</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"">Ten Nepali students also lost their lives in the attack led by Hamas.</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"">Israel launched a massive attack in retaliation which has killed over ten thousand people, half of them said to be children according to media reports.</span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19306', 'image' => '20231128114449_AP23331509919159.jpg', 'article_date' => '2023-11-28 11:44:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19577', 'article_category_id' => '1', 'title' => 'DAO, Parsa Settles 438 Cases Related to Loansharking ', 'sub_title' => '', 'summary' => 'November 28: The District Administration Office (DAO) Parsa has so far settled 438 cases related to loansharking. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The District Administration Office (DAO) Parsa has so far settled 438 cases related to loansharking. Parsa's Assistant Chief District Officer, Shiba Prasad Lamsal, said they received a total of 1,321 complaints through online registration and sorted out 438 through mutual understanding, bringing justice to the victims. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Legal proceedings have been initiated in two cases after the two sides failed to reach a mutual understanding. The majority of complaints revolved around issues related to borrowing of money and land. In some cases, the victims were deceived during the loan acquisition process. Documents show that the victims were provided more loans than they actually received. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that in July of this year, the parliament passed a bill recognizing usury, primarily prevalent in the Terai region, as a criminal offence. This legislative move came in response to a five-point agreement reached between the government and victims of loan sharks in April. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19305', 'image' => '20231128110228_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2023-11-28 11:01:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19576', 'article_category_id' => '1', 'title' => ' Rice Production Declines in Sarlahi', 'sub_title' => '', 'summary' => 'Rice production in Sarlahi has witnessed a significant decrease this year, attributed primarily to the absence of timely rainfall. The Agriculture Knowledge Centre in Sarlahi has reported that the untimely weather pattern has adversely impacted rice cultivation. Additionally, crop diseases and pesticide-related issues have further contributed to the decline in production.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 27: Rice production in Sarlahi has witnessed a significant decrease this year, attributed primarily to the absence of timely rainfall. The Agriculture Knowledge Centre in Sarlahi has reported that the untimely weather pattern has adversely impacted rice cultivation. Additionally, crop diseases and pesticide-related issues have further contributed to the decline in production.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Local farmer Ruplal Chaudhary from Jabdi, Lalbandi municipality-3 expressed his disappointment with this year's rice production, stating, "We are not paid off for our hard work and investment." Chaudhary revealed that he spent Rs 10,000 on irrigation alone for paddy cultivated on six katha of land (one kattha is equivalent to 3,645 sq. ft).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Comparing the data to the previous year, where the district recorded a production of 164,145 metric tons of rice, this year has seen a substantial reduction. Farmers reported a yield as low as two maunds (approximately 38 kgs) per land plot, in contrast to the five maunds recorded in the previous year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Devanand Ray Yadav, Chief of the Agriculture Knowledge Centre, highlighted that areas with irrigation facilities maintained satisfactory production, while regions dependent on rainfall experienced a decline. Some areas also reported issues related to diseases and pesticides affecting the overall production.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Official data indicates that paddy cultivation covers approximately 46,500 hectares of land in Sarlahi. Due to the delayed onset of rains, farmers without reliable irrigation facilities had to resort to water pumping systems or containers for irrigation during rice transplantation, leading to increased farming costs. ---RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19304', 'image' => '20231128055143_collage (24).jpg', 'article_date' => '2023-11-28 05:49:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19575', 'article_category_id' => '1', 'title' => 'Sub-station Comes into Operation at Basantapur', 'sub_title' => '', 'summary' => 'A sub-station built at Basantapur in Dharmadevi municipality in Sakhuwasabha district has come into operation. ', 'content' => '<p><span style="font-size:20px"> November 27: A sub-station built at Basantapur in Dharmadevi municipality in Sakhuwasabha district has come into operation. </span></p> <p><span style="font-size:20px">The sub-station, established under the 220 KV transmission line under the Koshi Corridor, is considered to be an important project for electrification of the eastern part of the country 220 KV transmission line Koshi Corridor. </span></p> <p><span style="font-size:20px">The sub-station of 220-132-33 KV is set up by the Nepal Electricity Authority at 2,450 metres above the sea level. Two substations of similar capacity are already operative in Sunsari and Sankhuwasabha districts under the Project. </span></p> <p><span style="font-size:20px">The Indian company L and T was awarded contract to build the sub-stations at estimated USD 26.01 million. </span></p> <p><span style="font-size:20px">NEA managing director Kulman Ghising said that infrastructures have been built as a backbone for distribution and expansion of the electricity generated by the hydro power projects in the eastern part of the country especially Taplejung, Terahthum, Sankhuwasabha and Bhojpur districts to the national transmission grid. </span></p> <p><span style="font-size:20px">The sub-station at Basantapur will transmit the electricity coming from Tumlingtar and Dungesankhu in Taplejung district, it was shared. The sub-station had investment from the government of Nepal and concessional loan from Exim Bank of India. ---RSS </span></p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19303', 'image' => '20231127043525_collage (9).jpg', 'article_date' => '2023-11-27 16:34:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19574', 'article_category_id' => '1', 'title' => 'Nepal’s Market Reeling under Acute Shortage of Skilled Workers as Nepali Youths Dream of Foreign Job', 'sub_title' => '', 'summary' => 'November 27: At a time when the Nepali youths are looking for greener pastures abroad, there is a severe shortage of skilled manpower within the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: At a time when the Nepali youths are looking for greener pastures abroad, there is a severe shortage of skilled manpower within the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a shortage of skilled human resources especially in the field of gold and silver crafting business, construction, steel and grills industries, brick kilns, furniture, tailoring, scrap collecting and hair cutting jobs. These jobs are done by thousands of Indians from our neighbouring country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">These industries have to bring workers from outside due to the lack of skilled manpower in the country. This has resulted in large amount of capital flight from the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The number of Indians craftsmen, who make gold and silver jewellery, is significant in Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, the country produces around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Nepali craftsman every year, but that number of manpower is not enough. According to the president of the Federation, Manika Ratna Shakya, the gold and silver business sector with an investment of Rs 1 billion employs around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000 workers. Sixty percent of them are Nepalese and the rest are Indians. Their monthly income is up to Rs 150,000. The average monthly income of a craftsman working in the gold and silver sector is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Shakya, earlier Nepal was reliant on India for craftsmen. However, with the opening of training centers in Nepal in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2059</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the production of domestic manpower, the number of Nepalese craftsmen is increasing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Brick kilns are also struggling due to the lack of skilled. There are around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers in around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> brick factories in Nepal, of which only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent are Nepalese. The rest are Indians. According to Shankar Bahadur Chand, the founder of the Nepal Brick Industry Federation, all Indians work in the Terai region. There are some Nepali workers in the hill areas. He says that their income is between Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</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"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per month on an average. He also said that a large number of brick factories have been shut down due to economic recession. This has affected employment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal's construction sector is also facing a severe shortage of workers. According to the Federation of Contractors Association of Nepal, a large number of Indians have to be employed because there is not enough domestic workers, especially those specialized in handling equipment as well as plumbers among others.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There are about two million workers in the construction sector. The number of Indians is around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500,000. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The monthly income of those workers is above Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">FCAN President Ravi Singh informed New Business Age that Indian labourers work more hours than Nepalese. Since the Indian workers do not take vacations, take package jobs, and complete them on time, construction companies call upon Indian workers for work ranging from bridge construction to operating equipment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is also a large shortage of manpower in the grill sector of Nepal. According to Mohan Katuwal, founding president of Grill and Steel Traders Federation of Nepal, Nepalis are unable to continue working for a long time. According to him, the annual production of grill and steel sector is equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of Nepalis and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">35</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent Indian workers are employed in around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> grill and steel factories across the country. The rest of the workers in this industry are from Bangladesh and China.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The average salary of one worker is around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per month. Katuwal says that the average salary of a Nepali worker is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, but it is difficult to find Nepali workers. He said that it is easier to employ Indians than Nepali because Indians finish work quickly and do not take leaves. More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of Indians are involved in cutting hair, collecting garbage, and making mattresses. Their monthly average earning is estimated to be above Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. The government agency does not have the details of the amount these workers take to India annually.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although workers from India and other countries are earning millions by taking advantage of the lack of manpower in the Nepalese labor market, Nepalis are not showing much interest in doing these jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even the top officials of the government say that there is an extreme shortage of skilled manpower in the country. Kewal Prasad Bhandari, secretary at the Ministry of Labour, Employment and Social Security, said that there is an extreme shortage of skilled manpower in the country. Addressing a program held in the capital recently, he said that while the number of people going to work outside Nepal is increasing, there is a shortage of manpower within the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Presenting a fact sheet, he said, “Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people from Odisha state of India do plumbing work in Nepal. There is no account of their earnings. Furniture work is mostly done by workers from Bihar. Tile, marble works are all done by Biharis. Craftsmen is a gold and silver shops are from Gujrat.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, a study conducted </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years ago showed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tailoring shops operating in Kathmandu Valley had </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""> percent of workers from Darbhanga, India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We have huge demand in the market, but there is lack of skilled manpower here," Secretary Bhandari said, "Nepalis are not interested in learning skill." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Many Nepalis go to work in foreign countries on a visit visa. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">92</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of them do not have any kind of skills.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Bhandari, although there is a legal provision to send workers for foreign employment only after training, the certificate of training is submitted only to fulfill the formality. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Secretary Bhandari also revealed that highly skilled human resources are also going abroad from Nepal. He says it should be stopped. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"If we call for applications for the posts of doctors, no one will show any interest here. There is so much demand all over the world," he said. According to Bhandari, there is an extreme shortage of trained manpower in the domestic market. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19302', 'image' => '20231127030303_foreign emp.jpg', 'article_date' => '2023-11-27 15:01:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19572', 'article_category_id' => '1', 'title' => 'Banks Under Pressure due to Increase in Bad Loans', 'sub_title' => '', 'summary' => 'November 27: Bad loans of banks and financial institutions (BFIs) have been increasing due to the slump in economic activities.', '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"">November 27: Bad loans of banks and financial institutions (BFIs) have been increasing due to the slump in economic activities.</span></span></span></span></p> <p><span style="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 recovery of loans has been affected due to the decline in economic activities as well as the agitation started by defaulters for non-payment of bank loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data published by Nepal Rastra Bank, the average bad loans of banks and financial institutions have reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent as of mid-October of the current fiscal year (FY). During this period, bad loans of commercial banks have reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, while that of development banks stand at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and finance companies are struggling with non-performing loans of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8.37</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="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 mid-July of the current year, the average bad loans of banks and financial institutions was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.02</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent including </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of commercial banks, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of development banks and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of finance companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, says that bad loans have increased due to the decline in economic activities and the provisioning of concessions given in the past. </span></span></span></span></p> <p><span style="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 concessions given during the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the reduction in economic activities are now causing weak recovery of loans," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the increase in bad loans, the profits of most of the banks and financial institutions have decreased in the first quarter of the current year. Their dividend distribution capacity has also decreased.</span></span></span></span></p> <p><span style="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 Nepal Rastra Bank, the number of account holders in banks and financial institutions has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million as of mid-October. Out of this, the number of people taking loans from banks has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><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"">Compared to mid-July, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">976,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> new account holders were added in the banking system by mid-October. The number of borrowers has also increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,766</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. As of mid-October, the number of mobile banking customers has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million and internet banking customers has reached</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.625</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the interest rate of deposits and loans has become cheaper by mid-October. The central bank informed that the average interest rate on deposit in mid-October was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.90 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and the interest rate on loan was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The NRB said that the interest on deposits stood at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and interest on loan at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.24 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent in mid-July.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19301', 'image' => '20231127010957_badloan.jpg', 'article_date' => '2023-11-27 13:09:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19573', 'article_category_id' => '1', 'title' => 'Zonta Club Organises Awareness Program against VAW', 'sub_title' => '', 'summary' => 'November 27: Zonta Club Kathmandu organized an awareness program on violence against women on Sunday as part of the 16-day campaign against gender-based violence.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Zonta Club Kathmandu organized an awareness program on violence against women on Sunday as part of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">day campaign against gender-based violence. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The awareness program was held in collaboration with the Women's Wing of the Armed Police Force and Ncell. AIG Dr Chandra Prakash Gautam was the chief guest of the event, which was attended by women from Kathmandu metropolis, women members of Armed Police Force and members of Zonta Club. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders discussed various problems faced by women, legal provisions related to women in Nepal, and cyber security during the program. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As part of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">day campaign, four different videos related to child marriage, domestic violence, abuse at workplace and sexual abuse in the transport sector were screened in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">cinema halls in Kathmandu, the Zonta Club informed. Various colleges presented awareness materials through social media in coordination with Zonta Club.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19300', 'image' => '20231127011043_1701054102.3 zonta club.jpg', 'article_date' => '2023-11-27 13:10:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19571', 'article_category_id' => '1', 'title' => 'Government Commemorates Centenary of Nepal-UK Friendship Treaty 1923', 'sub_title' => '', 'summary' => 'November 27: The Ministry of Foreign Affairs organized a special programme on Sunday to commemorate 100 years of Nepal-UK Friendship Treaty of 1923 at Hanuman Dhoka, Durbar Square, Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 27: The Ministry of Foreign Affairs organized a special programme on Sunday to commemorate 100 years of Nepal-UK Friendship Treaty of 1923 at Hanuman Dhoka, Durbar Square, Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Foreign Affairs Narayan Prakash Saud delivered his remarks highlighting the significance of the Treaty and its contribution to the bilateral relations between Nepal and the United Kingdom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, UK Ambassador to Nepal, Rob Fenn, also spoke on the importance of the Treaty on the bilateral relations, reads a press statement issued by the Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prof Dr Tri Ratna Manandhar, a renowned historian and the keynote speaker of the event, delved into comprehensive discourse on the Treaty and highlighted the context and sequences of the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A collection of rare photographs and documents related to the 1923 Treaty were also displayed during the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepalese Army band performed a musical show on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event was attended by parliamentarians, ambassadors, diplomats, chiefs of security bodies, former foreign secretaries, former ambassadors, representatives from the media, among others, the press release added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19299', 'image' => '20231127125238_blank.jpg', 'article_date' => '2023-11-27 12:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19570', 'article_category_id' => '218', 'title' => 'Kumari Bank Pays Rs 80 million to its Customers under Insurance Scheme', 'sub_title' => '', 'summary' => 'November 27: Kumari Bank Limited has paid insurance amount worth Rs 80 million to 4,500 customers of the bank under the 'Family Protection Savings Account' scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Kumari Bank Limited has paid insurance amount worth Rs </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"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">customers of the bank under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank provided the amount in the last four years to its customers through a designated insurance company. The insurance amount was provided for the general check-up, hospital admission and treatment of serious illness and accidental death of customers under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the bank, the highest </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of claims under the scheme were settled in Bagmati Province. Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent claims were settled in Madhesh Province and Gandaki Province respectively and the remaining amount was paid in other provinces. The bank made the highest amount of payment of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent for hospitalization insurance.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19298', 'image' => '20231127115705_1701054387.kumari-bank-2080-08-10.jpg', 'article_date' => '2023-11-27 11:56:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19584', 'article_category_id' => '1', 'title' => 'Koshi Province Exports Tea Leaves Worth Rs 2.6 Billion in 3 Months', 'sub_title' => '', 'summary' => 'The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 28: The Koshi Province has witnessed a significant production of key cash crops such as tea leaves, cardamom, ginger, and grass groom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the Kakarvitta Plant Quarantine Office, 4,331 metric tons of tea leaves, valued at around Rs 2.6 billion, were exported to India through the east Kakarvitta point in the first three months of the current fiscal year 2080-81 BS (2023-24).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It may be noted that Jhapa, Ilam, Panchthar, and Dhanukuta are known as focal areas for tea production in eastern Nepal. There is a surge in demand for organic tea produced in Nepal in the European market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, black cardamom, ginger, and broom grass from the eastern hilly districts are exported to India via the Kakarvitta point. Data shows that in the same three-month period, the export of black cardamom amounted to approximately Rs 1.21 billion, with a quantity of 1,510 metric tons.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Black cardamom is specially cultivated in loamy soils found in Ilam, Panchthar, Tehrathum, Dhankuta, Sankhuwasabha, Bhojpur, and Khotang districts. It has a high market value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the Kakarvitta point recorded the export of 1,793 metric tons of ginger, equivalent to some Rs 230 million during the same period. Prior to export, ginger undergoes processing in Jhapa and Ilam districts to ensure its quality.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to these, there is a significant demand for broom grass in India and Bangladesh. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Chandeshwor Thakur, the information officer at the Plant Quarantine Office, 2,417 metric tons of broom grass worth Rs 290 million was exported, in the first three months of the current fiscal. This plant is primarily cultivated in the steep hills of Nepal. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19312', 'image' => '20231128042115_collage (10).jpg', 'article_date' => '2023-11-28 16:20:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19583', 'article_category_id' => '1', 'title' => 'Experts Urge Stakeholders to Capitalise on Open Border between Nepal and India', 'sub_title' => '', 'summary' => 'November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: Stakeholders shared that the problems related to the open border between Nepal and India are discussed more but the issue of capitalizing on it has often been ignored.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the open border like that of Nepal and India is rare in other countries, experts have suggested the neighbouring countries to capitalize on it for the prosperity of both the sides. So far, no concrete initiative has been taken in this regard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Misuse of the open border has resulted in smuggling of goods, drug trafficking, illegal and fake currency trading, and human trafficking which have become a matter of concern for both the sides. India's concern about the possibility of terrorist activities against it through the open border with Nepal is not a new issue. Both countries have promised not to allow such activities against each other from their respective territories.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of the Madhesh Province chapter of the Federation of Nepalese Chambers of Commerce and Industry, says that there has not been enough initiative to utilize the economic and social opportunities of the open border.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Nepal and India share more than 1700 kilometers of open border. If it is used properly, the two-way economic and social life can be improved," Temani, who is also the chairman of the Nepal-India Socioeconomic Forum, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He claimed that if the border is properly managed, it can boost the economy of the border area. He pointed out the need for efforts at the government level. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, who promoted the concept of 'Happy Border' when he was the leader of the Birgunj Chamber of Commerce and Industry, is now the Chairman of the Trade Committee under the Confederation of Nepalese Chamber of Commerce and Industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the economic and social life of both the sides can be improved by capitlising on the social and religious ties between Nepal and India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Only if the residents living in the border areas are happy and satisfied, the problems seen in the open border will be solved. To make people's lives prosperous and happy, there is a need for meaningful coordination between the private sector and intergovernmental bodies," said Gupta.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders say that since Birgunj is a commercial and industrial hub, solving the problems seen in Nepal-India trade should be the priority.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The private sector has also been complaining about smuggling of goods through the open border while the authorities have been harassing the local businessmen in the name of curbing such illegal activities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Temani sees India's role as important in the development of industry and trade in Nepal. He said that even though Nepal-India trade relations are guided by trade agreements, there are problems from time to time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that a solution should be found based on understanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders claim that solving the problems seen in trade will increase trade and since Nepal is one of the main markets for India's export trade, it will benefit India. Gupta thinks that India, which is making massive progress in agriculture, can support the development of Nepal's agricultural sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"India can provide technical support for improving Nepal's agricultural system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devisahay Meena, the Indian Consul General in Birgunj, said that there is a need to further strengthen the economic and social relations between Nepal and India. In the program held in Birganj, Meena expressed India’s commitment to coordinate the best possible way for the overall development of the border area. </span></span></span></p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19311', 'image' => '20231128031437_Fl_600x600.jpg', 'article_date' => '2023-11-28 15:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19582', 'article_category_id' => '1', 'title' => 'Cut-off Price of Sarvottam Cement’s IPO Fixed at Rs 401 per Unit', 'sub_title' => '', 'summary' => 'November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">November 28: The cut-off price of the Initial Public Offering (IPO) of the shares of Sarvottam Cement, which sold shares through the book building process for the first time in Nepal, has been fixed at Rs 401 per unit. Nepal Stock Exchange (NEPSE) opened the confidential sealed bids received from eligible institutional investors on the morning of November 27 and fixed the cut-off price at Rs 401.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information officer of NEPSE, Murahari Parajuli, informed that the cut-off price is set so that all the issued shares will be distributed to eligible institutional investors. He informed that after determining the cut-off price, all the applicants who bid an equivalent amount or more than the cut-off price will be allotted the shares as per the demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement sold 2.4 million shares to eligible institutional investors in the first phase from November 22 to 26. Although the bid was submitted with a maximum price of 406 rupees, the cut-off price was maintained at 401. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, Kumari Capital and two schemes under it, Kumari Equity Fund and Kumari Dhanbriddhi Yojana submitted the highest bid at the price of Rs 406 per share. NEPSE informed that Kumari Capital applied for 5,000 shares, Kumari Equity Fund operated under Kumari Capital applied for 15,000 shares and Kumari Dhanbriddhi Yojana applied for 20,000 shares. According to NEPSE, Citizen Investment Fund submitted a bid for the purchase of 400,000 shares at a price of Rs 405 per share. Apart from these, other applicants submitted bids of Rs 401 per share.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NEPSE, 41 institutional investors submitted secret sealed bids for the purchase of a total of 3,619,190 shares of Sarvottam Cement. The eligible institutional investors applied through confidential sealed bids in the absence of an online system at present.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If the investors who apply at the cut-off price are unable to get the shares as per their demand, there is a provision to distribute them proportionately. NEPSE has implemented the same system for the allocation of shares. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Sarvottam Cement had sought permission from the Securities Board of Nepal (SEBON) to sell 6 million units of shares, which would be 12.9033 percent of the issued capital of Rs 4.65 billion of the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The company received approval from the board to sell 2.4 million units of shares to institutional investors who will own 40 percent of the shares. After selling the IPO to qualified institutional investors, the company will issue 60 percent shares to the general public.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19310', 'image' => '20231128031311_1701140144.1701063741.ipo (1).jpg', 'article_date' => '2023-11-28 15:12:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19581', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record ', 'sub_title' => '', 'summary' => 'November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The price of gold has reached an all-time record high and is being traded at Rs 117,700 per tola (11.6 grams) on Tuesday. </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"">According to the Federation of Nepal Gold and Silver Dealers Associations, the precious yellow metal set a new record in the domestic market with the increase in gold prices in the international market. The federation added that hallmark gold was traded at Rs 117,400 per tola on Monday, a record in itself. Previously, the price of hallmark gold (fine) had reached Rs 117,000 per tola a month ago on October 28, 2023.</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"">Similarly, the price of standard gold (worked gold) has been determined at Rs 117,150 per tola on Tuesday against Rs 116,850 on Monday. </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"">Likewise, the price of silver remained unchanged and is being traded at Rs 1,500 per tola on Tuesday. </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19309', 'image' => '20231128021746_gold newwww.jpg', 'article_date' => '2023-11-28 14:17:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19580', 'article_category_id' => '1', 'title' => 'SSF Collects Around Rs 45 Billion from 900,000 Workers in Five Years', 'sub_title' => '', 'summary' => 'November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme.', '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"">November 28: More than 900,000 workers have contributed about Rs 45 billion to the contribution-based Social Security Fund (SSF) in five years since the government launched this social security scheme. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the SSF, it has collected Rs 44,85,11,00,000 from the contributors. The highest amount has been collected for the old age protection scheme. During the five years, SSF has collected Rs 37,35,71,46,000 under this scheme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 1,29,27,00,000 have been collected for medical treatment under health and maternity scheme, Rs 2,48,62,00,000 for accident and disability protection scheme and dependent family protection scheme. The fund has earned a profit of Rs 2.17 billion by investing the collected amount.</span></span></span></span></p> <p><span style="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 then Prime Minister KP Sharma Oli had launched the social security scheme five years ago announcing the beginning of a new era. Since then, more than 900,000 workers and 18,000 employers have joined the fund. This participation is less than expected. The government had set a target of registering 30,000 employers by the end of the fiscal year (FY) 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Nepal Labor Force Report 2017/18, there are 7.86 million workers in the domestic labor market of Nepal including 2.6 million workers in the formal sector and 4.4 million in the informal sector. Even now, a large number of banks and financial institutions have not participated in the Social Security Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Last May, the fund had introduced a special plan to list informal sector workers as well as Nepalis working abroad and workers in the agricultural sector. Among them, 466,622 people who went for foreign employment have joined the fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Informal sector workers are yet to be included in the fund despite the announcement to include them. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of Social Security Fund, Kabiraj Adhikari said that the fund is trying to cover all the workers by widening the scheme amid various obstacles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders have suggested the SSF to invest the amount collected from the contributors in the productive sector. Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry, said that instead of keeping the contributors money in fixed deposits of banks, the SSF should find suitable areas and invest 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"">Binod Shrestha, chairman of the Federation of United Trade Unions, said that the contributors who do not contribute to the fund should be punished and the employers and workers who are affiliated to the fund should be given tax exemption based on their contribution.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Addressing a program organized on the occasion of the 6th Social Security Fund Day on Monday, Prime Minister Pushpa Kamal Dahal said that the SSF has started providing facilities to all the citizens at times of need.</span></span></span></span></p> <p><span style="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 the occasion, Social Security Fund honored various institutions for their contribution. The fund honored Laxmi Sunrise Bank for engaging the most contributing workers from the banking, finance and insurance sectors. Laxmi Sunrise Bank ranked first from the financial sector by having the largest number of contributors from the financial sector to the fund. Its 1,409 employees are affiliated to the fund. </span></span></span></span></p> <p><span style="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 SSF also honored Garuda Security Pvt Ltd from the human resource supply sector, Sprout Technology Services Pvt Ltd from the information technology and communication sector and Arihant Multifiber from the manufacturing sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nobel Medical College and Teaching Hospital from the health and social work sector and Sipradi Trading, which sells Tata vehicles from the wholesale and retail sales sector, were also honored. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Universal Institute of Advanced Studies and Research Center from the education sector and Infotech Services Pvt Ltd from other support sector were also recognized for their contribution. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19308', 'image' => '20231128125808_SSF (1).jpg', 'article_date' => '2023-11-28 12:57:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19579', 'article_category_id' => '1', 'title' => 'Aloft Kathmandu Wins Two Awards at Hospitality India Travel Awards', 'sub_title' => '', 'summary' => 'November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the 18th Hospitality India Travel Awards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 28: Aloft Kathmandu, an international chain hotel based in Thamel, has won the award of 'Best General Manager' and 'Leading Business Hotel' at the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Hospitality India Travel Awards.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The hotel's General Manager Bikram Singh won the 'Best General Manager' award amid a function held in New Delhi, India on Friday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After winning the award, Aloft’s General Manager Singh said, “It is a great honor to receive these prestigious awards. It reaffirms our commitment to provide unparalleled service and set new benchmarks in the hospitality sector.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19307', 'image' => '20231128120047_1701091113.jpg', 'article_date' => '2023-11-28 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19578', 'article_category_id' => '1', 'title' => 'Israel-Hamas Truce in Gaza Extended by Two Days', 'sub_title' => '', 'summary' => 'November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: A humanitarian pause in fighting between Israel and Hamas will extend by two days, mediator Qatar said Monday as an initial four-day truce in Gaza was set to expire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to AFP, Qatari foreign ministry spokesman Majed Al Ansari said on X, formerly Twitter: "The State of Qatar announces that, as part of the ongoing mediation, an agreement has been reached to extend the humanitarian truce for an additional two days in the Gaza Strip." </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"">Gaza is facing a humanitarian crisis since Palestine militant group Hamas launched a massive attack on Israel on October 7, killing over 1200 people and taking hostage 240 people including women, children and one Nepali national – Bipin Joshi.</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"">Ten Nepali students also lost their lives in the attack led by Hamas.</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"">Israel launched a massive attack in retaliation which has killed over ten thousand people, half of them said to be children according to media reports.</span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19306', 'image' => '20231128114449_AP23331509919159.jpg', 'article_date' => '2023-11-28 11:44:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19577', 'article_category_id' => '1', 'title' => 'DAO, Parsa Settles 438 Cases Related to Loansharking ', 'sub_title' => '', 'summary' => 'November 28: The District Administration Office (DAO) Parsa has so far settled 438 cases related to loansharking. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The District Administration Office (DAO) Parsa has so far settled 438 cases related to loansharking. Parsa's Assistant Chief District Officer, Shiba Prasad Lamsal, said they received a total of 1,321 complaints through online registration and sorted out 438 through mutual understanding, bringing justice to the victims. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Legal proceedings have been initiated in two cases after the two sides failed to reach a mutual understanding. The majority of complaints revolved around issues related to borrowing of money and land. In some cases, the victims were deceived during the loan acquisition process. Documents show that the victims were provided more loans than they actually received. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that in July of this year, the parliament passed a bill recognizing usury, primarily prevalent in the Terai region, as a criminal offence. This legislative move came in response to a five-point agreement reached between the government and victims of loan sharks in April. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19305', 'image' => '20231128110228_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2023-11-28 11:01:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19576', 'article_category_id' => '1', 'title' => ' Rice Production Declines in Sarlahi', 'sub_title' => '', 'summary' => 'Rice production in Sarlahi has witnessed a significant decrease this year, attributed primarily to the absence of timely rainfall. The Agriculture Knowledge Centre in Sarlahi has reported that the untimely weather pattern has adversely impacted rice cultivation. Additionally, crop diseases and pesticide-related issues have further contributed to the decline in production.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 27: Rice production in Sarlahi has witnessed a significant decrease this year, attributed primarily to the absence of timely rainfall. The Agriculture Knowledge Centre in Sarlahi has reported that the untimely weather pattern has adversely impacted rice cultivation. Additionally, crop diseases and pesticide-related issues have further contributed to the decline in production.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Local farmer Ruplal Chaudhary from Jabdi, Lalbandi municipality-3 expressed his disappointment with this year's rice production, stating, "We are not paid off for our hard work and investment." Chaudhary revealed that he spent Rs 10,000 on irrigation alone for paddy cultivated on six katha of land (one kattha is equivalent to 3,645 sq. ft).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Comparing the data to the previous year, where the district recorded a production of 164,145 metric tons of rice, this year has seen a substantial reduction. Farmers reported a yield as low as two maunds (approximately 38 kgs) per land plot, in contrast to the five maunds recorded in the previous year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Devanand Ray Yadav, Chief of the Agriculture Knowledge Centre, highlighted that areas with irrigation facilities maintained satisfactory production, while regions dependent on rainfall experienced a decline. Some areas also reported issues related to diseases and pesticides affecting the overall production.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Official data indicates that paddy cultivation covers approximately 46,500 hectares of land in Sarlahi. Due to the delayed onset of rains, farmers without reliable irrigation facilities had to resort to water pumping systems or containers for irrigation during rice transplantation, leading to increased farming costs. ---RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-28', 'modified' => '2023-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '19304', 'image' => '20231128055143_collage (24).jpg', 'article_date' => '2023-11-28 05:49:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19575', 'article_category_id' => '1', 'title' => 'Sub-station Comes into Operation at Basantapur', 'sub_title' => '', 'summary' => 'A sub-station built at Basantapur in Dharmadevi municipality in Sakhuwasabha district has come into operation. ', 'content' => '<p><span style="font-size:20px"> November 27: A sub-station built at Basantapur in Dharmadevi municipality in Sakhuwasabha district has come into operation. </span></p> <p><span style="font-size:20px">The sub-station, established under the 220 KV transmission line under the Koshi Corridor, is considered to be an important project for electrification of the eastern part of the country 220 KV transmission line Koshi Corridor. </span></p> <p><span style="font-size:20px">The sub-station of 220-132-33 KV is set up by the Nepal Electricity Authority at 2,450 metres above the sea level. Two substations of similar capacity are already operative in Sunsari and Sankhuwasabha districts under the Project. </span></p> <p><span style="font-size:20px">The Indian company L and T was awarded contract to build the sub-stations at estimated USD 26.01 million. </span></p> <p><span style="font-size:20px">NEA managing director Kulman Ghising said that infrastructures have been built as a backbone for distribution and expansion of the electricity generated by the hydro power projects in the eastern part of the country especially Taplejung, Terahthum, Sankhuwasabha and Bhojpur districts to the national transmission grid. </span></p> <p><span style="font-size:20px">The sub-station at Basantapur will transmit the electricity coming from Tumlingtar and Dungesankhu in Taplejung district, it was shared. The sub-station had investment from the government of Nepal and concessional loan from Exim Bank of India. ---RSS </span></p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19303', 'image' => '20231127043525_collage (9).jpg', 'article_date' => '2023-11-27 16:34:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19574', 'article_category_id' => '1', 'title' => 'Nepal’s Market Reeling under Acute Shortage of Skilled Workers as Nepali Youths Dream of Foreign Job', 'sub_title' => '', 'summary' => 'November 27: At a time when the Nepali youths are looking for greener pastures abroad, there is a severe shortage of skilled manpower within the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: At a time when the Nepali youths are looking for greener pastures abroad, there is a severe shortage of skilled manpower within the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a shortage of skilled human resources especially in the field of gold and silver crafting business, construction, steel and grills industries, brick kilns, furniture, tailoring, scrap collecting and hair cutting jobs. These jobs are done by thousands of Indians from our neighbouring country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">These industries have to bring workers from outside due to the lack of skilled manpower in the country. This has resulted in large amount of capital flight from the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The number of Indians craftsmen, who make gold and silver jewellery, is significant in Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, the country produces around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> Nepali craftsman every year, but that number of manpower is not enough. According to the president of the Federation, Manika Ratna Shakya, the gold and silver business sector with an investment of Rs 1 billion employs around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,000 workers. Sixty percent of them are Nepalese and the rest are Indians. Their monthly income is up to Rs 150,000. The average monthly income of a craftsman working in the gold and silver sector is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Shakya, earlier Nepal was reliant on India for craftsmen. However, with the opening of training centers in Nepal in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2059</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the production of domestic manpower, the number of Nepalese craftsmen is increasing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Brick kilns are also struggling due to the lack of skilled. There are around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> workers in around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> brick factories in Nepal, of which only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent are Nepalese. The rest are Indians. According to Shankar Bahadur Chand, the founder of the Nepal Brick Industry Federation, all Indians work in the Terai region. There are some Nepali workers in the hill areas. He says that their income is between Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</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"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per month on an average. He also said that a large number of brick factories have been shut down due to economic recession. This has affected employment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal's construction sector is also facing a severe shortage of workers. According to the Federation of Contractors Association of Nepal, a large number of Indians have to be employed because there is not enough domestic workers, especially those specialized in handling equipment as well as plumbers among others.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There are about two million workers in the construction sector. The number of Indians is around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500,000. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The monthly income of those workers is above Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">FCAN President Ravi Singh informed New Business Age that Indian labourers work more hours than Nepalese. Since the Indian workers do not take vacations, take package jobs, and complete them on time, construction companies call upon Indian workers for work ranging from bridge construction to operating equipment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is also a large shortage of manpower in the grill sector of Nepal. According to Mohan Katuwal, founding president of Grill and Steel Traders Federation of Nepal, Nepalis are unable to continue working for a long time. According to him, the annual production of grill and steel sector is equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of Nepalis and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">35</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent Indian workers are employed in around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> grill and steel factories across the country. The rest of the workers in this industry are from Bangladesh and China.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The average salary of one worker is around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per month. Katuwal says that the average salary of a Nepali worker is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, but it is difficult to find Nepali workers. He said that it is easier to employ Indians than Nepali because Indians finish work quickly and do not take leaves. More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of Indians are involved in cutting hair, collecting garbage, and making mattresses. Their monthly average earning is estimated to be above Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. The government agency does not have the details of the amount these workers take to India annually.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although workers from India and other countries are earning millions by taking advantage of the lack of manpower in the Nepalese labor market, Nepalis are not showing much interest in doing these jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even the top officials of the government say that there is an extreme shortage of skilled manpower in the country. Kewal Prasad Bhandari, secretary at the Ministry of Labour, Employment and Social Security, said that there is an extreme shortage of skilled manpower in the country. Addressing a program held in the capital recently, he said that while the number of people going to work outside Nepal is increasing, there is a shortage of manpower within the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Presenting a fact sheet, he said, “Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people from Odisha state of India do plumbing work in Nepal. There is no account of their earnings. Furniture work is mostly done by workers from Bihar. Tile, marble works are all done by Biharis. Craftsmen is a gold and silver shops are from Gujrat.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to him, a study conducted </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years ago showed that </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tailoring shops operating in Kathmandu Valley had </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""> percent of workers from Darbhanga, India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We have huge demand in the market, but there is lack of skilled manpower here," Secretary Bhandari said, "Nepalis are not interested in learning skill." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Many Nepalis go to work in foreign countries on a visit visa. Around </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">92</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of them do not have any kind of skills.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Bhandari, although there is a legal provision to send workers for foreign employment only after training, the certificate of training is submitted only to fulfill the formality. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Secretary Bhandari also revealed that highly skilled human resources are also going abroad from Nepal. He says it should be stopped. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"If we call for applications for the posts of doctors, no one will show any interest here. There is so much demand all over the world," he said. According to Bhandari, there is an extreme shortage of trained manpower in the domestic market. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19302', 'image' => '20231127030303_foreign emp.jpg', 'article_date' => '2023-11-27 15:01:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19572', 'article_category_id' => '1', 'title' => 'Banks Under Pressure due to Increase in Bad Loans', 'sub_title' => '', 'summary' => 'November 27: Bad loans of banks and financial institutions (BFIs) have been increasing due to the slump in economic activities.', '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"">November 27: Bad loans of banks and financial institutions (BFIs) have been increasing due to the slump in economic activities.</span></span></span></span></p> <p><span style="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 recovery of loans has been affected due to the decline in economic activities as well as the agitation started by defaulters for non-payment of bank loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data published by Nepal Rastra Bank, the average bad loans of banks and financial institutions have reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent as of mid-October of the current fiscal year (FY). During this period, bad loans of commercial banks have reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.61</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, while that of development banks stand at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and finance companies are struggling with non-performing loans of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8.37</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="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 mid-July of the current year, the average bad loans of banks and financial institutions was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.02</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent including </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of commercial banks, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of development banks and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.60</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of finance companies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, says that bad loans have increased due to the decline in economic activities and the provisioning of concessions given in the past. </span></span></span></span></p> <p><span style="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 concessions given during the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the reduction in economic activities are now causing weak recovery of loans," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the increase in bad loans, the profits of most of the banks and financial institutions have decreased in the first quarter of the current year. Their dividend distribution capacity has also decreased.</span></span></span></span></p> <p><span style="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 Nepal Rastra Bank, the number of account holders in banks and financial institutions has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million as of mid-October. Out of this, the number of people taking loans from banks has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000</span></span><span style="font-size:15.0pt"><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"">Compared to mid-July, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">976,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> new account holders were added in the banking system by mid-October. The number of borrowers has also increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5,766</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> people. As of mid-October, the number of mobile banking customers has reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million and internet banking customers has reached</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.625</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the interest rate of deposits and loans has become cheaper by mid-October. The central bank informed that the average interest rate on deposit in mid-October was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.90 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and the interest rate on loan was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The NRB said that the interest on deposits stood at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and interest on loan at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.24 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent in mid-July.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19301', 'image' => '20231127010957_badloan.jpg', 'article_date' => '2023-11-27 13:09:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19573', 'article_category_id' => '1', 'title' => 'Zonta Club Organises Awareness Program against VAW', 'sub_title' => '', 'summary' => 'November 27: Zonta Club Kathmandu organized an awareness program on violence against women on Sunday as part of the 16-day campaign against gender-based violence.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Zonta Club Kathmandu organized an awareness program on violence against women on Sunday as part of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">day campaign against gender-based violence. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The awareness program was held in collaboration with the Women's Wing of the Armed Police Force and Ncell. AIG Dr Chandra Prakash Gautam was the chief guest of the event, which was attended by women from Kathmandu metropolis, women members of Armed Police Force and members of Zonta Club. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders discussed various problems faced by women, legal provisions related to women in Nepal, and cyber security during the program. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As part of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">day campaign, four different videos related to child marriage, domestic violence, abuse at workplace and sexual abuse in the transport sector were screened in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">cinema halls in Kathmandu, the Zonta Club informed. Various colleges presented awareness materials through social media in coordination with Zonta Club.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19300', 'image' => '20231127011043_1701054102.3 zonta club.jpg', 'article_date' => '2023-11-27 13:10:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19571', 'article_category_id' => '1', 'title' => 'Government Commemorates Centenary of Nepal-UK Friendship Treaty 1923', 'sub_title' => '', 'summary' => 'November 27: The Ministry of Foreign Affairs organized a special programme on Sunday to commemorate 100 years of Nepal-UK Friendship Treaty of 1923 at Hanuman Dhoka, Durbar Square, Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 27: The Ministry of Foreign Affairs organized a special programme on Sunday to commemorate 100 years of Nepal-UK Friendship Treaty of 1923 at Hanuman Dhoka, Durbar Square, Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Foreign Affairs Narayan Prakash Saud delivered his remarks highlighting the significance of the Treaty and its contribution to the bilateral relations between Nepal and the United Kingdom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, UK Ambassador to Nepal, Rob Fenn, also spoke on the importance of the Treaty on the bilateral relations, reads a press statement issued by the Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prof Dr Tri Ratna Manandhar, a renowned historian and the keynote speaker of the event, delved into comprehensive discourse on the Treaty and highlighted the context and sequences of the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A collection of rare photographs and documents related to the 1923 Treaty were also displayed during the programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepalese Army band performed a musical show on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event was attended by parliamentarians, ambassadors, diplomats, chiefs of security bodies, former foreign secretaries, former ambassadors, representatives from the media, among others, the press release added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19299', 'image' => '20231127125238_blank.jpg', 'article_date' => '2023-11-27 12:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19570', 'article_category_id' => '218', 'title' => 'Kumari Bank Pays Rs 80 million to its Customers under Insurance Scheme', 'sub_title' => '', 'summary' => 'November 27: Kumari Bank Limited has paid insurance amount worth Rs 80 million to 4,500 customers of the bank under the 'Family Protection Savings Account' scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 27: Kumari Bank Limited has paid insurance amount worth Rs </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"">million to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">customers of the bank under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The bank provided the amount in the last four years to its customers through a designated insurance company. The insurance amount was provided for the general check-up, hospital admission and treatment of serious illness and accidental death of customers under the 'Family Protection Savings Account' scheme. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the bank, the highest </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent of claims under the scheme were settled in Bagmati Province. Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent claims were settled in Madhesh Province and Gandaki Province respectively and the remaining amount was paid in other provinces. The bank made the highest amount of payment of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">54 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent for hospitalization insurance.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-27', 'modified' => '2023-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '19298', 'image' => '20231127115705_1701054387.kumari-bank-2080-08-10.jpg', 'article_date' => '2023-11-27 11:56:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
