October 17: China on Monday prepared to host representatives of 130 countries for a forum that will be overshadowed by the Israel-Gaza war, as an increasingly assertive Beijing is asked to help de-escalate the…
October 17: China on Monday prepared to host representatives of 130 countries for a forum that will be overshadowed by the Israel-Gaza war, as an increasingly assertive Beijing is asked to help de-escalate the…
October 17: The untimely rainfall has disappointed farmers in Kailali district.…
Finance Minister Dr. Prakash Sharan Mahat emphasized the importance of collective efforts to improve the country's economy. He stressed that relying solely on government initiatives would not be sufficient for economic…
The Nepal Stock(NEPSE) Index lost 23.16 points or 1.23%, closing at 1851.43 points on the first trading day of the week,…
October 16: Nepal Rastra Bank has neglected the implementation of the interest rate corridor, which was started with the aim of maintaining interest rate stability by minimizing short-term interest rate…
October 16: The Nepal Electricity Authority (NEA) has once again received the 'Double A Plus' credit…
October 16: A new industrial zone is going to be built on the land of the Special Economic Zone (SEZ) in Bara's…
October 16: The government has failed in its efforts to supply duty-free sugar to the consumers before Dashain.…
October 16: An earthquake was felt in the hill districts of Sudurpaschim province, including in Baitadi, this…
October 16: Tilicho Lake, which lies at an altitude of 4919 metres above the sea level, has now access to internet connectivity.…
The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Sunday…
Reliable Nepal Life Insurance Limited organized a programme to felicitate its agents on the occasion of Dashain and Tihar festivals in…
October 15: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said that the state-owned Nepal Airlines Corporation (NAC) will procure ten new aircraft within the current fiscal…
October 15: Usually, the market bustles with life with the onset of Dashain and Tihar as people flock to the market places for shopping.…
October 15: The Navaratri Parba or the nine-night festival of Bada Dashain, the great festival of the Hindus of Nepal, has commenced from today (October…
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: China on Monday prepared to host representatives of 130 countries for a forum that will be overshadowed by the Israel-Gaza war, as an increasingly assertive Beijing is asked to help de-escalate the violence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the top of the invite list to China's Belt and Road Initiative (BRI) forum is Russia's President Vladimir Putin, on his first trip to a major global power since the Ukraine invasion threw his regime into international isolation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Leaders have begun to trickle into the Chinese capital for a gala event marking a decade of the BRI -- a key project of President Xi Jinping to extend China's global reach. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While China hopes the forum will help boost its standing as a leading global power, Israel's war with Palestinian militant organisation Hamas will continue to dominate the headlines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel declared war on the Islamist group after waves of its fighters broke through the heavily fortified border on October 7, shooting, stabbing and burning to death more than 1,400 people, most of them civilians. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under heavy Israeli bombardment of the Hamas-ruled Gaza Strip, more than one million people have fled their homes in scenes of chaos and despair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel's bombing has left at least 2,670 people dead in Gaza, mainly civilians, and flattened entire neighbourhoods. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">China's Foreign Minister Wang Yi has condemned Israel's actions for going "beyond the scope of self-defence" and called for it to "cease its collective punishment of the people of Gaza". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"(Israel) should listen earnestly to the calls of the international community and the UN secretary general, and cease its collective punishment of the people of Gaza," Wang said Sunday, in what is the strongest stance China has expressed so far on the conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Beijing has been criticised by Western officials for not specifically naming Hamas in its statements on the Israel-Gaza conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wang had on Sunday spoken with US Secretary of State Antony Blinken, who called on China to use its "influence" in the Middle East to push for calm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China has a warm relationship with Iran, whose clerical leadership supports both Hamas and Hezbollah, the Lebanese militant group that could open a second front against Israel. Earlier this year, China brokered an entente between former regional foes Iran and Saudi Arabia. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Beijing's special envoy Zhai Jun will visit the Middle East this week to push for a ceasefire in the Israel-Hamas conflict and promote peace talks, China's state broadcaster CCTV said on Sunday, without specifying which countries he would visit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Niva Yau, a nonresident fellow with the Atlantic Council's Global China Hub, told AFP the BRI summit would allow Beijing to frame attendance as a gesture of support for its position. "Any head of state that attends the summit, it's almost as if they agree with Beijing's positions on these global issues," she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Strategic dependence </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A number of leaders have already arrived in Beijing ahead of the two-day forum, which kicks off Tuesday. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Among them are Hungarian Prime Minister Viktor Orban, Chilean President Gabriel Boric, Kenyan President William Ruto and Ethiopian Prime Minister Abiy Ahmed. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On Monday Russia's top diplomat Sergei Lavrov flew into Beijing and within hours held talks with China's Foreign Minister Wang Yi. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Putin -- whose strategic dependence on China has only grown since his invasion of neighbouring Ukraine thrust his country into international isolation -- was expected to arrive overnight. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">This year, trade between China and Russia has soared to levels not seen since the beginning of Moscow's war in Ukraine, with Chinese imports of Russian oil offering Moscow a critical lifeline as international sanctions bite. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">China has refused to condemn the Ukraine war in an effort to position itself as a neutral party, while at the same time offering Moscow vital diplomatic and financial support. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the heart of the deepening partnership is the relationship between Xi and Putin, who have described each other as "dear friends". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Their alliance is also forged by a symbiotic necessity, each seeing the other as a necessary bulwark in their shared struggle against Western dominance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an interview with Chinese state broadcaster CGTN ahead of his visit this week, Putin hailed ties with Beijing and the "mutual benefits" of the BRI. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"President Putin pointed out that a multipolar world is taking shape, and the concepts and initiatives put forward by President Xi Jinping are highly relevant and significant," CGTN reported. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"He stated that President Xi Jinping is a well-recognised leader on the world stage and is a true world leader," it said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Putin also reportedly "shared pleasant memories between President Xi and him, and hoped tradition continues when they meet in China in the future." -- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '19004', 'image' => '20231017112944_XxjpbeE007202_20231016_PEPFN1A001.JPG', 'article_date' => '2023-10-17 11:28:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19275', 'article_category_id' => '1', 'title' => 'Untimely Rainfall Disappoints Farmers ', 'sub_title' => '', 'summary' => 'October 17: The untimely rainfall has disappointed farmers in Kailali district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The untimely rainfall has disappointed farmers in Kailali district. The rainfall which occurred since Monday afternoon upset farmers as they were about to harvest rice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They are worried how they would harvest rice safely amidst such erratic weather. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A farmer from Tikapur, Nirmal BK, said the paddy they harvested and spread to dry in the field has become wet due to the ill-timed rainfall.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"I waited for a tractor to collect the crop, but it did not come. The rainfall drenched the rice. The storm has further strewn it. If the rainfall continues, the crop will perish in the field," he shared his plight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another farmer Padam Oli shared that paddy is ripe in the field. He did not harvest the paddy, worrying about storms on Monday, but the rains coupled with storm damaged the ripe paddy. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"If the rainfall does not stop, it certainly damages the crop," he said, wondering, "Why does rainfall occur when it is time to harvest rice?" </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the farmers in Kailali district are upset, reasoning rainfall occurs when they are ready to harvest rice. They experienced it for three years. It has resulted in loss of production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In 2078 BS, the floods triggered by the rainfall swept away the harvest time rice. Last year, we were able to save half of the crops," said Hari Chaudhary, adding, "We have not harvested rice due to erratic weather. The storm coupled with rainfall has damaged half the yield this year too. The adverse weather is a bane for farmers.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another farmer Parbati Chaudhari said that the paddy harvested and spread to dry in the field was damaged due to the sudden change in weather. “Only half of the crop remained,” she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Tikapur Municipality and Janaki Rural Municipality have suggested the farmers to wait for some days to harvest rice. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '19003', 'image' => '20231018110312_SureshAcharya_Surkhet_RSS_30_20231017_064031.jpg', 'article_date' => '2023-10-17 11:03:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19274', 'article_category_id' => '1', 'title' => 'Collective Efforts Essential to Improve Economy: Finance Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat emphasized the importance of collective efforts to improve the country's economy. He stressed that relying solely on government initiatives would not be sufficient for economic improvement.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 17: Finance Minister Dr. Prakash Sharan Mahat emphasized the importance of collective efforts to improve the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He stressed that relying solely on government initiatives would not be sufficient for economic improvement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During an inauguration of the Female Economic Journalists Association (FEJA) in Kathmandu, Minister Mahat expressed need for support from all sectors to boost the economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Mahat said the gradual signs of economic improvement in the country but stressed that the efforts of the government and the Finance Ministry alone were inadequate. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He called for a joint commitment from all stakeholders to work towards economic enhancement, assuring that the Finance Ministry was prepared to address any obstacles hindering progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Minister Mahat emphasized the importance of empowering women for the socio-economic development of the nation, highlighting the increased participation of women in various sectors, such as health and education, following the adoption of the concept of inclusive development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Sharmila Thakuri, Chair of FEJA, stated that FEJA's establishment is aimed at playing a coordinating role in the skill and capacity development of women journalists working in economic beat. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '19002', 'image' => '20231017055331_collage (13).jpg', 'article_date' => '2023-10-17 05:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19273', 'article_category_id' => '1', 'title' => 'NEPSE’s Downfall Continues', 'sub_title' => '', 'summary' => 'The Nepal Stock(NEPSE) Index lost 23.16 points or 1.23%, closing at 1851.43 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 16: The Nepal Stock(NEPSE) Index lost 23.16 points or 1.23%, closing at 1851.43 points on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investors and stock analysts have attributed today's market loss to the impending Dashain festival. According to one investor, NEPSE experienced selling pressure as the Dashain festival draws near.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, 284 different stocks were traded in 69,832 transactions in the NEPSE. A total of 4,837,893 units of shares exchanged their hands, amounting to Rs 1.25 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prabhu Bank Limited Promoter Share (PRVUPO) had the highest turnover, reaching Rs. 6.24 crores, and closed at a market price of Rs. 108.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Siddhartha Premier Insurance Limited (SPIL) recorded the highest gain of 7.87% today. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Sayapatri Hydropower Limited (SPHL) and Hathway Investment Nepal Limited (HATHY) witnessed the highest loss of 10%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices closed in the red territory. "Life Insurance Index" lost the highest 2.09% while "Manufacturing And Processing" lost the least of 0.57% for today.</span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '19001', 'image' => '20231016051813_collage (24).jpg', 'article_date' => '2023-10-16 17:16:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19272', 'article_category_id' => '1', 'title' => 'NRB Neglects Maintaining Interest Rate Corridor', 'sub_title' => '', 'summary' => 'October 16: Nepal Rastra Bank has neglected the implementation of the interest rate corridor, which was started with the aim of maintaining interest rate stability by minimizing short-term interest rate fluctuations.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 16: Nepal Rastra Bank has neglected the implementation of the interest rate corridor, which was started with the aim of maintaining interest rate stability by minimizing short-term interest rate fluctuations.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The main objective of the interest corridor is to keep the interbank interest rate within a certain limit. However, even though the interbank interest rate has fallen below the limit since the last one month, NRB has not used monetary instruments to maintain the interest rate.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has set the target of keeping the average interbank interest rate higher than the bank rate and lower than the deposit collection rate in the monetary policy of the current financial year (FY). There is a provision in the policy to use various monetary tools to keep the interbank interest rate in the middle while keeping the upper limit of the interest rate corridor at 7.5 percent and the lower limit at 4.5 percent.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, even though the interbank interest rate has fallen below the monetary policy target since September 13, NRB has not used monetary instruments to draw liquidity from the market to increase the interest rate. In the monetary policy, it is mentioned that if the interest rate is higher or lower than the target, secondary market transactions and deposit collection will be opened.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">On September 13, the interbank interest rate fell to 4.14 percent. Since then, the interbank interest rate, which has been below the limit, remained at 1.90 percent even on Wednesday, October 11. Meanwhile, on October 6, the interbank interest rate had dropped to 1.79 percent.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data of NRB, the average credit to deposit ratio (CD ratio) of banks on October 10 was 81.86 percent. As the banks are allowed to give loans by maintaining CD radio up to 90%, they still have the capacity to extend loans of around Rs 475 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, banks have been saying that there is no demand for loans due to high interest rates and weak economy. Due to high liquidity in banks due to lack of demand for loans, the interbank interest rate has fallen below the lower limit of the corridor.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to the fall in interest rates, the government also emphasized on raising domestic debt. The government changed the schedule to collect loans when interest rates fell. Anil Sharma, Chief Executive Officer of Nepal Bankers' Association says that the interbank interest rate decreased after the government allowed the amount of local level accumulated funds to be counted as deposits, and at the same time, the government also raised internal loans.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB Deputy Spokesperson Dr. Dilliram Pokharel says that the current interest rate is of a short-term nature and that monetary instruments were not used because the government insisted on raising internal debt.</span></span></span></p> <p> </p> <p> </p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '19000', 'image' => '20231016034603_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-10-16 15:45:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19271', 'article_category_id' => '1', 'title' => 'NEA Gets 'Double A Plus' Credit Rating ', 'sub_title' => '', 'summary' => 'October 16: The Nepal Electricity Authority (NEA) has once again received the 'Double A Plus' credit rating.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: The Nepal Electricity Authority (NEA) has once again received the 'Double A Plus' credit rating. ICRA Nepal Ltd, a credit rating agency in Nepal, has granted the 'ICRA NP Double A Plus' to the NEA, the state-owned entity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recipients of this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. They carry very low credit risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The financial status of NEA, assets, business and financial risks, managerial capacity, internal and external environmental factors affecting operational effectiveness were assessed by the ICRA Nepal before assigning an issuer rating of Double A Plus to the organisation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Credit ratings serve as a tool for assessing the creditworthiness of both individuals and organizations and for expressing opinion. They provide opinions on an entity's ability to meet its debt obligations, presenting a clear and simple indicator about related financial risks. According to ICRA Nepal, the rating is only an opinion on the general creditworthiness of the rated entity and is not specific to any debt instrument. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA Managing Director Kulman Ghising said the NEA has bagged the 'Double A Plus' credit rating from among the public entities, presenting its high-level of capacity to bear financial obligations. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18999', 'image' => '20231016030910_20230913111412_NEA_20191104081559.jpg', 'article_date' => '2023-10-16 15:08:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19270', 'article_category_id' => '1', 'title' => 'Govt Preparing to Set Up an Industrial Zone in Simara SEZ', 'sub_title' => '', 'summary' => 'October 16: A new industrial zone is going to be built on the land of the Special Economic Zone (SEZ) in Bara's Simara.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 16: A new industrial zone is going to be built on the land of the Special Economic Zone (SEZ) in Bara's Simara. The Ministry of Industry, Commerce and Supply is preparing to set up a new industrial zone in the SEZ.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Minister for Industry, Commerce and Supplies Ramesh Rijal said in an interaction with the entrepreneurs that an industrial zone will be built on 400 bighas of land in the D and E blocks of Simara SEZ.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Senior Vice President of Birgunj Chamber of Commerce and Industries, Hari Gautam, informed NBA that Minister Rijal revealed the plan during a visit to Simara to discuss about the industrial sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“A proposal for the new industrial zone will be submitted to the Council of Ministers after Dashain. Once the proposal is passed by the Council of Ministers, the construction of the industrial zone will proceed," said Gautam, quoting Minister Rijal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">SEZ has prepared structures in three of out of five blocks. Gautam said that getting land for new industries is becoming difficult in the Bara-Parsa Industrial Corridor, and that the entrepreneurs are excited about the preparation of a new industrial zone. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Ministry of Industry, Commerce and Supplies had commissioned the Industrial Area Management Limited to conduct a feasibility study for the establishment of an industrial zone. The ministry said that the body has submitted a report with the conclusion that Simara is the most suitable place for establishing an industrial zone. It is mentioned in the report that the location is best for the industrial sector due to its infrastructure, and proximity to the seaport, and access to expressway.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Industrial Area Management Limited and the SEZ Authority Board of Directors have approved the proposal for the construction of the industrial zone. As entrepreneurs are not attracted to SEZs, there is a demand to make SEZs an industrial zone. Although the industries have been invited to SEZ's A, B and C blocks, the entrepreneurs are not excited.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rijal also said that preparations are being made to reduce the mandatory export limit from 60 per cent to 30 per cent for the industries operating in SEZ. The minister informed that the rent of SEZ will also be reduced from Rs 20 to Rs 10 per square meter. This measure has been adopted to attract industries to SEZ. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18998', 'image' => '20231016021527_1697423282.2023-10-16 08.13.02.jpg', 'article_date' => '2023-10-16 14:14:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19269', 'article_category_id' => '1', 'title' => 'Government Fails to Import Sugar Before Dashain', 'sub_title' => '', 'summary' => 'October 16: The government has failed in its efforts to supply duty-free sugar to the consumers before Dashain. ', '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:"Nirmala UI","sans-serif"">October 16: The government has failed in its efforts to supply duty-free sugar to the consumers before Dashain. The government was unable to import sugar before Dashain as India did not show any interest to supply sugar to Nepal through the G2G process. Another reason for the failure was the delay in granting permission to import sugar to the Salt Trading Corporation (STC) and the Food Management and Trading Company (FMTC), which are responsible for the import and distribution of duty exempted sugar in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Ministry of Industry, Commerce and Supplies had sent a letter to the Ministry of Finance in July seeking permission to proceed with the process to import 60,000 metric tons of sugar with customs exemption, especially for the festive season. However, the Ministry of Finance did not respond to the letter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The STC and FMTC could not import sugar before Dashain due to the delay in getting approval for import. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In mid-September, the Finance Ministry granted permission to the Salt Trading Corporation and Food Management and Trading Company to import 20,000 tons of sugar at 50 percent customs exepmtion. Although Salt Trading Corporation and Food Management and Trading Company were assigned the responsibility to import 10,000 tons of sugar each, both these companies have admitted that they will not be able to import sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kumar Rajbhandari, spokesperson of the Salt Trading Corporation, said that it is certain that subsidized sugar cannot be brought before Dashain. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He blamed the Finance Ministry for giving approval to purchase sugar when it was already too late.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that a 15-day notice was issued to import sugar on a fast-track basis and a company was also selected but it was not possible to bring sugar because India did not supply sugar. According to Rajbhandari, it would be too expensive to bring sugar from other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">At present, India has not exported sugar to other countries, due to which the price of sugar has become expensive in the international market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“When we bring it from other countries, we have to sell it here at a high price. That is why we have reached the decision not to bring sugar for now," 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:"Nirmala UI","sans-serif"">The FMTC had issued a 45-day notice which will expire after mid-November. By that time, the festival of Dashain will already have finished. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">With the start of the festive season, the government took the initiative to bring 50,000 metric tons of sugar from India through the G2G (Government to Government) process, but it was not successful. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, India banned sugar exports a few months ago after the price of sugar started increasing in its domestic market. India is one of the top sugar exporting countries in the world.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Minister for Industry, Commerce and Supplies Ramesh Rijal, Nepal had written to India in mid-July asking for 100,000 tons of rice, 50,000 tons of sugar and 5,000 tons of paddy. India has not yet sent a reply. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We requested food grains from India to prevent shortage in our market. However, India has not given any response,” said the minister, adding, “A few weeks ago, we again took a diplomatic initiative with the Indian government. The Indian side agreed to supply sugar but it is not certain when.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18997', 'image' => '20231016012240_sugar.jpg', 'article_date' => '2023-10-16 13:21:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19268', 'article_category_id' => '1', 'title' => 'Tremor Felt in Sudurpaschim Province ', 'sub_title' => '', 'summary' => 'October 16: An earthquake was felt in the hill districts of Sudurpaschim province, including in Baitadi, this morning. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: An earthquake was felt in the hill districts of Sudurpaschim province, including in Baitadi, this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Earthquake Measurement Centre Surkhet, Bal Bahadur Tamang, said that an earthquake measuring 4.8 on the Richter scale with epicentre at Batan, India, adjoining Darchula district occurred at 9.26 am on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The District Police Office Baitadi said they have not received any information about the damage so far.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Of late, earthquakes have been occurring frequently in far-western Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18996', 'image' => '20231016124037_earth.jpg', 'article_date' => '2023-10-16 12:39:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19267', 'article_category_id' => '1', 'title' => 'Tilicho Lake now has Access to Internet ', 'sub_title' => '', 'summary' => 'October 16: Tilicho Lake, which lies at an altitude of 4919 metres above the sea level, has now access to internet connectivity. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: Tilicho Lake, which lies at an altitude of 4919 metres above the sea level, has now access to internet connectivity. The internet service was lunched for the convenience of tourists visiting the lake in the mountainous district Manang. It is expected to be highly effective for communications in case of altitude sickness and other emergency situations, said Cholpa Gurung, ward chair of Manang’s Dinsang Rural Municipality-9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> "The availability of the internet facility is expected to reduce incidents of visitors going missing or falling ill. Visitors can now contact their families and relatives in case of emergency," he said. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The hotel and tourism entrepreneurs installed the internet service in the area to facilitate the tourists visiting Tilicho Lake, said Karma Dendu Gurung, a hotel entrepreneur.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arrival of tourists is increasing in Manang. Both domestic and foreign tourists visit this place to view the sceneries of the mountains and hills as well as to experience the culture and lifestyle of the local people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Over 200 foreign tourists visit the district on a daily basis, said Bhupendra Gurung, chief of the tourist check and information centre of the Annapurna Conservation Area Project (ACAP) in Dharapani. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The inflow of tourists may increase during Dashain and Tihar. The lake falls on the Annapurna Circuit which is linked with five districts, Lamjung, Manang, Mustang, Myagdi and Kaski. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In eight months of 2023, over 14,200 tourists have visited this route. Most of the trekkers were from Israel, France and Germany, said the centre. However, according to the centre, it does not have exact data of domestic tourists hiking the route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The increasing inflow of tourists, both domestic and foreign of late, has encouraged tourism entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the health of visiting tourists, ACAP has set up a temporary health post in the area in coordination with the rural municipality. The ACAP provides information to the tourists visiting Tilicho Lake and Thorangla Pass about possible health hazards and risks that may take place in course of the journey. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18995', 'image' => '20231016105041_Tilicho.jpg', 'article_date' => '2023-10-16 10:50:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19266', 'article_category_id' => '1', 'title' => 'NOC Slashes Fuel Prices', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Sunday midnight.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 16: The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Sunday midnight. In a press statement issued by the NOC on Sunday, the NOC slashed fuel prices significantly. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The price of petrol will now be Rs 11 per litre cheaper, while both diesel and kerosene will see a reduction of Rs 5 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the price adjustment, the petrol will cost Rs 169 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj. Meanwhile, diesel will be priced at Rs 165 per litre at these places. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the petrol will be priced at Rs 171 per litre petrol in Dang and Surkhet, and Rs 172 per litre in Kathmandu, Pokhara, and Dipayal. The NOC said that it adjusted the price reductions in line with the new pricing structure received from the Indian Oil Corporation (IOC).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18994', 'image' => '20231016054222_collage (12).jpg', 'article_date' => '2023-10-16 05:40:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '19265', 'article_category_id' => '1', 'title' => 'Reliable Nepal Life Insurance Limited Provides Motivational Training to Its Agents', 'sub_title' => '', 'summary' => 'Reliable Nepal Life Insurance Limited organized a programme to felicitate its agents on the occasion of Dashain and Tihar festivals in Manthali.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">October 15: Reliable Nepal Life Insurance Limited organized a programme to felicitate its agents on the occasion of Dashain and Tihar festivals in Manthali. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The insurance’s Manthali branch under Bagmati Province office Banepa provided a motivational session, imparted a training and hounured agency managers and agents working in the insurance’s Manthali branch. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The program had the presence of 38 agents from Reliable Nepal Life. The event in Manthali branch was graced by the Branch Chief, Santosh Shrestha, and the Bagmati Province Chief, Surendra Thapa. During the event, the agents were provided with motivational training.</span></span></span></p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18993', 'image' => '20231015051103_collage (11).jpg', 'article_date' => '2023-10-15 17:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19264', 'article_category_id' => '1', 'title' => 'NAC Plans to Purchase up to 10 Aircraft in Current Fiscal Year ', 'sub_title' => '', 'summary' => 'October 15: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said that the state-owned Nepal Airlines Corporation (NAC) will procure ten new aircraft within the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 15: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said that the state-owned Nepal Airlines Corporation (NAC) will procure ten new aircraft within the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that the government decided to add more aircraft for the NAC to end the anomalies in the airfares. He made the revelation during a meeting with a group of students at his official residence in Pulchowk on Sunday.</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"">"There is no other alternative to intervene in the airfares without enhancing the capacity of NAC,” said Minister Kirati, adding the procurement process will begin shortly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NAC is preparing to purchase three twin-otters for domestic flights. The NAC currently has two twin-otters to conduct flights to remote areas.</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 Minister Kirati, the NAC has been operating flights from Nepaligunj airport to rural areas throughout Dashain. He pledged to sit for talks with authorities concerned to prevent the potential allocation of air tickets in the black market during festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The students' delegation led by Nepal Students Union President Dujang Sherpa handed a memorandum to the minister, demanding the containment of possible distributions of air tickets oin the black market during festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NSU urged the NAC to operate flights targeting mountainous region and remote areas for the convenience of travelers during the festive season. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18992', 'image' => '20231015043431_20230428123538_nac twin.jpg', 'article_date' => '2023-10-15 16:33:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19263', 'article_category_id' => '1', 'title' => 'Dashain Business Dismal Despite Bustling Crowd', 'sub_title' => '', 'summary' => 'October 15: Usually, the market bustles with life with the onset of Dashain and Tihar as people flock to the market places for shopping. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">October 15: Usually, the market bustles with life with the onset of Dashain and Tihar as people flock to the market places for shopping. However, the business is disappointing this year due to the recession in the economy, which has reduced the purchasing power of the general public.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">With the onset of Dashain, the main business centers of Kathmandu including New Road, Khichhapokhari, Asan, Indrachok, Sundhara, Bhotahiti, Koteshwar, Baneshwar and other places are crowded with consumers. Traders in those areas, however, complain that there is no encouraging business despite the crowd.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">There is a trend among consumers to go to New Road or Asan to buy even small items. As a result, more congestion can be seen in these areas than normal times. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“However, not all of those consumers come to shop for Dashain,” says Bimal Prajapati, a businessman, adding, “There are more consumers who are looking for cheap goods because the price of every product has increased in the market. That's why there is a lot of crowd in the shops that have sale going on.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Economic recession and high interest rates of banks have slowed down the pace of trade and business. Businessmen who have been importing goods from different countries since June and July, targeting the festival, say that this year they have imported goods sparsely due to low demand in the market. Traders say that they do not feel like Dashain this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">At present, the price of every commodity including food, petroleum products has increased in the market. However, the consumer's income is limited. Due to this, consumers have changed their shopping habits affecting the market. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Naresh Katuwal, president of the Nepal National Traders’ Federation said that there is never 100 percent business in the market. In normal conditions, the business is 75 to 80 percent, but this year it has shrunk to 30 to 40 percent. According to him, goods are going from wholesale to retail market for the festive season. However, complaints of lack of retail trade are increasing. Previously, it was customary for those leaving Kathmandu to buy goods from here when returning home. He speculated that the business may have decreased during the festival probably because goods are now available in the villages.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18991', 'image' => '20231015114416_20211006084739_Clipboard49.jpg', 'article_date' => '2023-10-15 11:43:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19260', 'article_category_id' => '1', 'title' => 'Ghatasthapana Today Marks the Beginning of Dashain Festival', 'sub_title' => '', 'summary' => 'October 15: The Navaratri Parba or the nine-night festival of Bada Dashain, the great festival of the Hindus of Nepal, has commenced from today (October 15). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 15: The Navaratri Parba or the nine-night festival of Bada Dashain, the biggest festival of Nepal, has commenced from today (October 15). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The first day of the Dashain festival is called "Ghatasthapana" that falls on the first day of the bright half of the lunar calendar in the Nepali month of Ashwin (mid-September to mid-October). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the day of Ghatasthapana, different communities of Nepal, especially the Hindus, worship Diyo (an oil-fed lamp), Kalas (auspicious jar) and lord Ganesh in accordance with the Vedic rituals and sow barley seeds in a jar filled with soil and cow dung for germination of the auspicious Jamara (barley shoots). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees offer prayers to Durga Bhavani, the goddess of power, today. Germination of the auspicious "Jamara" is also done at the Hanumandhoka Palace in accordance with the Vedic rituals on this special day. There is also a tradition of sacrificing animals while initiating the germination of the "Jamara". </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Also today, prayers are offered to goddess Mahakali, Mahalaxmi and Mahasaraswati at the Dashain Ghar of Hanumandhoka Palace, marking the beginning of the Navaratri (nine nights). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The barley shoots and the auspicious Tika are given by parents to their children and by elders to their juniors on the tenth day of the Bada Dashain festival with blessings for peace, prosperity and happiness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The auspicious hour for receiving Tika this year is 11:02 am, according to the Nepal Calendar Determination Committee. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the Navaratri, thousands of devotees visit temples such as Naxal Bhagawati, Shobha Bhagawati, Maitidevi, Guheswori, Bhadrakali, Kalikasthan, Sankata, Mahankalsthan, Naradevi, Bijayeswori, Indrayani, Dakshinkali, Chamunda and other shrines of Goddess Durga Bhavani. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People also recite sacred verses and hymns dedicated to Durga Bhawani at temples and shrines as well as at their homes throughout the Dashain period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18990', 'image' => '20231015111340_20220918023227_maxresdefault.jpg', 'article_date' => '2023-10-15 11:13:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '19276', 'article_category_id' => '1', 'title' => 'China Prepares for BRI Summit under Shadow of Israel-Gaza War ', 'sub_title' => '', 'summary' => 'October 17: China on Monday prepared to host representatives of 130 countries for a forum that will be overshadowed by the Israel-Gaza war, as an increasingly assertive Beijing is asked to help de-escalate the violence. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: China on Monday prepared to host representatives of 130 countries for a forum that will be overshadowed by the Israel-Gaza war, as an increasingly assertive Beijing is asked to help de-escalate the violence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the top of the invite list to China's Belt and Road Initiative (BRI) forum is Russia's President Vladimir Putin, on his first trip to a major global power since the Ukraine invasion threw his regime into international isolation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Leaders have begun to trickle into the Chinese capital for a gala event marking a decade of the BRI -- a key project of President Xi Jinping to extend China's global reach. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While China hopes the forum will help boost its standing as a leading global power, Israel's war with Palestinian militant organisation Hamas will continue to dominate the headlines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel declared war on the Islamist group after waves of its fighters broke through the heavily fortified border on October 7, shooting, stabbing and burning to death more than 1,400 people, most of them civilians. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under heavy Israeli bombardment of the Hamas-ruled Gaza Strip, more than one million people have fled their homes in scenes of chaos and despair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel's bombing has left at least 2,670 people dead in Gaza, mainly civilians, and flattened entire neighbourhoods. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">China's Foreign Minister Wang Yi has condemned Israel's actions for going "beyond the scope of self-defence" and called for it to "cease its collective punishment of the people of Gaza". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"(Israel) should listen earnestly to the calls of the international community and the UN secretary general, and cease its collective punishment of the people of Gaza," Wang said Sunday, in what is the strongest stance China has expressed so far on the conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Beijing has been criticised by Western officials for not specifically naming Hamas in its statements on the Israel-Gaza conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wang had on Sunday spoken with US Secretary of State Antony Blinken, who called on China to use its "influence" in the Middle East to push for calm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China has a warm relationship with Iran, whose clerical leadership supports both Hamas and Hezbollah, the Lebanese militant group that could open a second front against Israel. Earlier this year, China brokered an entente between former regional foes Iran and Saudi Arabia. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Beijing's special envoy Zhai Jun will visit the Middle East this week to push for a ceasefire in the Israel-Hamas conflict and promote peace talks, China's state broadcaster CCTV said on Sunday, without specifying which countries he would visit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Niva Yau, a nonresident fellow with the Atlantic Council's Global China Hub, told AFP the BRI summit would allow Beijing to frame attendance as a gesture of support for its position. "Any head of state that attends the summit, it's almost as if they agree with Beijing's positions on these global issues," she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Strategic dependence </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A number of leaders have already arrived in Beijing ahead of the two-day forum, which kicks off Tuesday. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Among them are Hungarian Prime Minister Viktor Orban, Chilean President Gabriel Boric, Kenyan President William Ruto and Ethiopian Prime Minister Abiy Ahmed. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On Monday Russia's top diplomat Sergei Lavrov flew into Beijing and within hours held talks with China's Foreign Minister Wang Yi. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Putin -- whose strategic dependence on China has only grown since his invasion of neighbouring Ukraine thrust his country into international isolation -- was expected to arrive overnight. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">This year, trade between China and Russia has soared to levels not seen since the beginning of Moscow's war in Ukraine, with Chinese imports of Russian oil offering Moscow a critical lifeline as international sanctions bite. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">China has refused to condemn the Ukraine war in an effort to position itself as a neutral party, while at the same time offering Moscow vital diplomatic and financial support. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the heart of the deepening partnership is the relationship between Xi and Putin, who have described each other as "dear friends". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Their alliance is also forged by a symbiotic necessity, each seeing the other as a necessary bulwark in their shared struggle against Western dominance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an interview with Chinese state broadcaster CGTN ahead of his visit this week, Putin hailed ties with Beijing and the "mutual benefits" of the BRI. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"President Putin pointed out that a multipolar world is taking shape, and the concepts and initiatives put forward by President Xi Jinping are highly relevant and significant," CGTN reported. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"He stated that President Xi Jinping is a well-recognised leader on the world stage and is a true world leader," it said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Putin also reportedly "shared pleasant memories between President Xi and him, and hoped tradition continues when they meet in China in the future." -- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '19004', 'image' => '20231017112944_XxjpbeE007202_20231016_PEPFN1A001.JPG', 'article_date' => '2023-10-17 11:28:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19275', 'article_category_id' => '1', 'title' => 'Untimely Rainfall Disappoints Farmers ', 'sub_title' => '', 'summary' => 'October 17: The untimely rainfall has disappointed farmers in Kailali district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The untimely rainfall has disappointed farmers in Kailali district. The rainfall which occurred since Monday afternoon upset farmers as they were about to harvest rice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They are worried how they would harvest rice safely amidst such erratic weather. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A farmer from Tikapur, Nirmal BK, said the paddy they harvested and spread to dry in the field has become wet due to the ill-timed rainfall.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"I waited for a tractor to collect the crop, but it did not come. The rainfall drenched the rice. The storm has further strewn it. If the rainfall continues, the crop will perish in the field," he shared his plight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another farmer Padam Oli shared that paddy is ripe in the field. He did not harvest the paddy, worrying about storms on Monday, but the rains coupled with storm damaged the ripe paddy. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"If the rainfall does not stop, it certainly damages the crop," he said, wondering, "Why does rainfall occur when it is time to harvest rice?" </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the farmers in Kailali district are upset, reasoning rainfall occurs when they are ready to harvest rice. They experienced it for three years. It has resulted in loss of production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In 2078 BS, the floods triggered by the rainfall swept away the harvest time rice. Last year, we were able to save half of the crops," said Hari Chaudhary, adding, "We have not harvested rice due to erratic weather. The storm coupled with rainfall has damaged half the yield this year too. The adverse weather is a bane for farmers.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another farmer Parbati Chaudhari said that the paddy harvested and spread to dry in the field was damaged due to the sudden change in weather. “Only half of the crop remained,” she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Tikapur Municipality and Janaki Rural Municipality have suggested the farmers to wait for some days to harvest rice. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '19003', 'image' => '20231018110312_SureshAcharya_Surkhet_RSS_30_20231017_064031.jpg', 'article_date' => '2023-10-17 11:03:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19274', 'article_category_id' => '1', 'title' => 'Collective Efforts Essential to Improve Economy: Finance Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat emphasized the importance of collective efforts to improve the country's economy. He stressed that relying solely on government initiatives would not be sufficient for economic improvement.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 17: Finance Minister Dr. Prakash Sharan Mahat emphasized the importance of collective efforts to improve the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He stressed that relying solely on government initiatives would not be sufficient for economic improvement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During an inauguration of the Female Economic Journalists Association (FEJA) in Kathmandu, Minister Mahat expressed need for support from all sectors to boost the economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Mahat said the gradual signs of economic improvement in the country but stressed that the efforts of the government and the Finance Ministry alone were inadequate. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He called for a joint commitment from all stakeholders to work towards economic enhancement, assuring that the Finance Ministry was prepared to address any obstacles hindering progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Minister Mahat emphasized the importance of empowering women for the socio-economic development of the nation, highlighting the increased participation of women in various sectors, such as health and education, following the adoption of the concept of inclusive development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Sharmila Thakuri, Chair of FEJA, stated that FEJA's establishment is aimed at playing a coordinating role in the skill and capacity development of women journalists working in economic beat. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '19002', 'image' => '20231017055331_collage (13).jpg', 'article_date' => '2023-10-17 05:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19273', 'article_category_id' => '1', 'title' => 'NEPSE’s Downfall Continues', 'sub_title' => '', 'summary' => 'The Nepal Stock(NEPSE) Index lost 23.16 points or 1.23%, closing at 1851.43 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 16: The Nepal Stock(NEPSE) Index lost 23.16 points or 1.23%, closing at 1851.43 points on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investors and stock analysts have attributed today's market loss to the impending Dashain festival. According to one investor, NEPSE experienced selling pressure as the Dashain festival draws near.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, 284 different stocks were traded in 69,832 transactions in the NEPSE. A total of 4,837,893 units of shares exchanged their hands, amounting to Rs 1.25 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prabhu Bank Limited Promoter Share (PRVUPO) had the highest turnover, reaching Rs. 6.24 crores, and closed at a market price of Rs. 108.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Siddhartha Premier Insurance Limited (SPIL) recorded the highest gain of 7.87% today. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Sayapatri Hydropower Limited (SPHL) and Hathway Investment Nepal Limited (HATHY) witnessed the highest loss of 10%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices closed in the red territory. "Life Insurance Index" lost the highest 2.09% while "Manufacturing And Processing" lost the least of 0.57% for today.</span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '19001', 'image' => '20231016051813_collage (24).jpg', 'article_date' => '2023-10-16 17:16:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19272', 'article_category_id' => '1', 'title' => 'NRB Neglects Maintaining Interest Rate Corridor', 'sub_title' => '', 'summary' => 'October 16: Nepal Rastra Bank has neglected the implementation of the interest rate corridor, which was started with the aim of maintaining interest rate stability by minimizing short-term interest rate fluctuations.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 16: Nepal Rastra Bank has neglected the implementation of the interest rate corridor, which was started with the aim of maintaining interest rate stability by minimizing short-term interest rate fluctuations.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The main objective of the interest corridor is to keep the interbank interest rate within a certain limit. However, even though the interbank interest rate has fallen below the limit since the last one month, NRB has not used monetary instruments to maintain the interest rate.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has set the target of keeping the average interbank interest rate higher than the bank rate and lower than the deposit collection rate in the monetary policy of the current financial year (FY). There is a provision in the policy to use various monetary tools to keep the interbank interest rate in the middle while keeping the upper limit of the interest rate corridor at 7.5 percent and the lower limit at 4.5 percent.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, even though the interbank interest rate has fallen below the monetary policy target since September 13, NRB has not used monetary instruments to draw liquidity from the market to increase the interest rate. In the monetary policy, it is mentioned that if the interest rate is higher or lower than the target, secondary market transactions and deposit collection will be opened.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">On September 13, the interbank interest rate fell to 4.14 percent. Since then, the interbank interest rate, which has been below the limit, remained at 1.90 percent even on Wednesday, October 11. Meanwhile, on October 6, the interbank interest rate had dropped to 1.79 percent.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data of NRB, the average credit to deposit ratio (CD ratio) of banks on October 10 was 81.86 percent. As the banks are allowed to give loans by maintaining CD radio up to 90%, they still have the capacity to extend loans of around Rs 475 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, banks have been saying that there is no demand for loans due to high interest rates and weak economy. Due to high liquidity in banks due to lack of demand for loans, the interbank interest rate has fallen below the lower limit of the corridor.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to the fall in interest rates, the government also emphasized on raising domestic debt. The government changed the schedule to collect loans when interest rates fell. Anil Sharma, Chief Executive Officer of Nepal Bankers' Association says that the interbank interest rate decreased after the government allowed the amount of local level accumulated funds to be counted as deposits, and at the same time, the government also raised internal loans.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB Deputy Spokesperson Dr. Dilliram Pokharel says that the current interest rate is of a short-term nature and that monetary instruments were not used because the government insisted on raising internal debt.</span></span></span></p> <p> </p> <p> </p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '19000', 'image' => '20231016034603_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-10-16 15:45:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19271', 'article_category_id' => '1', 'title' => 'NEA Gets 'Double A Plus' Credit Rating ', 'sub_title' => '', 'summary' => 'October 16: The Nepal Electricity Authority (NEA) has once again received the 'Double A Plus' credit rating.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: The Nepal Electricity Authority (NEA) has once again received the 'Double A Plus' credit rating. ICRA Nepal Ltd, a credit rating agency in Nepal, has granted the 'ICRA NP Double A Plus' to the NEA, the state-owned entity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recipients of this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. They carry very low credit risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The financial status of NEA, assets, business and financial risks, managerial capacity, internal and external environmental factors affecting operational effectiveness were assessed by the ICRA Nepal before assigning an issuer rating of Double A Plus to the organisation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Credit ratings serve as a tool for assessing the creditworthiness of both individuals and organizations and for expressing opinion. They provide opinions on an entity's ability to meet its debt obligations, presenting a clear and simple indicator about related financial risks. According to ICRA Nepal, the rating is only an opinion on the general creditworthiness of the rated entity and is not specific to any debt instrument. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA Managing Director Kulman Ghising said the NEA has bagged the 'Double A Plus' credit rating from among the public entities, presenting its high-level of capacity to bear financial obligations. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18999', 'image' => '20231016030910_20230913111412_NEA_20191104081559.jpg', 'article_date' => '2023-10-16 15:08:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19270', 'article_category_id' => '1', 'title' => 'Govt Preparing to Set Up an Industrial Zone in Simara SEZ', 'sub_title' => '', 'summary' => 'October 16: A new industrial zone is going to be built on the land of the Special Economic Zone (SEZ) in Bara's Simara.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 16: A new industrial zone is going to be built on the land of the Special Economic Zone (SEZ) in Bara's Simara. The Ministry of Industry, Commerce and Supply is preparing to set up a new industrial zone in the SEZ.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Minister for Industry, Commerce and Supplies Ramesh Rijal said in an interaction with the entrepreneurs that an industrial zone will be built on 400 bighas of land in the D and E blocks of Simara SEZ.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Senior Vice President of Birgunj Chamber of Commerce and Industries, Hari Gautam, informed NBA that Minister Rijal revealed the plan during a visit to Simara to discuss about the industrial sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“A proposal for the new industrial zone will be submitted to the Council of Ministers after Dashain. Once the proposal is passed by the Council of Ministers, the construction of the industrial zone will proceed," said Gautam, quoting Minister Rijal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">SEZ has prepared structures in three of out of five blocks. Gautam said that getting land for new industries is becoming difficult in the Bara-Parsa Industrial Corridor, and that the entrepreneurs are excited about the preparation of a new industrial zone. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Ministry of Industry, Commerce and Supplies had commissioned the Industrial Area Management Limited to conduct a feasibility study for the establishment of an industrial zone. The ministry said that the body has submitted a report with the conclusion that Simara is the most suitable place for establishing an industrial zone. It is mentioned in the report that the location is best for the industrial sector due to its infrastructure, and proximity to the seaport, and access to expressway.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Industrial Area Management Limited and the SEZ Authority Board of Directors have approved the proposal for the construction of the industrial zone. As entrepreneurs are not attracted to SEZs, there is a demand to make SEZs an industrial zone. Although the industries have been invited to SEZ's A, B and C blocks, the entrepreneurs are not excited.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rijal also said that preparations are being made to reduce the mandatory export limit from 60 per cent to 30 per cent for the industries operating in SEZ. The minister informed that the rent of SEZ will also be reduced from Rs 20 to Rs 10 per square meter. This measure has been adopted to attract industries to SEZ. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18998', 'image' => '20231016021527_1697423282.2023-10-16 08.13.02.jpg', 'article_date' => '2023-10-16 14:14:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19269', 'article_category_id' => '1', 'title' => 'Government Fails to Import Sugar Before Dashain', 'sub_title' => '', 'summary' => 'October 16: The government has failed in its efforts to supply duty-free sugar to the consumers before Dashain. ', '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:"Nirmala UI","sans-serif"">October 16: The government has failed in its efforts to supply duty-free sugar to the consumers before Dashain. The government was unable to import sugar before Dashain as India did not show any interest to supply sugar to Nepal through the G2G process. Another reason for the failure was the delay in granting permission to import sugar to the Salt Trading Corporation (STC) and the Food Management and Trading Company (FMTC), which are responsible for the import and distribution of duty exempted sugar in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Ministry of Industry, Commerce and Supplies had sent a letter to the Ministry of Finance in July seeking permission to proceed with the process to import 60,000 metric tons of sugar with customs exemption, especially for the festive season. However, the Ministry of Finance did not respond to the letter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The STC and FMTC could not import sugar before Dashain due to the delay in getting approval for import. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In mid-September, the Finance Ministry granted permission to the Salt Trading Corporation and Food Management and Trading Company to import 20,000 tons of sugar at 50 percent customs exepmtion. Although Salt Trading Corporation and Food Management and Trading Company were assigned the responsibility to import 10,000 tons of sugar each, both these companies have admitted that they will not be able to import sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kumar Rajbhandari, spokesperson of the Salt Trading Corporation, said that it is certain that subsidized sugar cannot be brought before Dashain. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He blamed the Finance Ministry for giving approval to purchase sugar when it was already too late.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that a 15-day notice was issued to import sugar on a fast-track basis and a company was also selected but it was not possible to bring sugar because India did not supply sugar. According to Rajbhandari, it would be too expensive to bring sugar from other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">At present, India has not exported sugar to other countries, due to which the price of sugar has become expensive in the international market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“When we bring it from other countries, we have to sell it here at a high price. That is why we have reached the decision not to bring sugar for now," 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:"Nirmala UI","sans-serif"">The FMTC had issued a 45-day notice which will expire after mid-November. By that time, the festival of Dashain will already have finished. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">With the start of the festive season, the government took the initiative to bring 50,000 metric tons of sugar from India through the G2G (Government to Government) process, but it was not successful. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, India banned sugar exports a few months ago after the price of sugar started increasing in its domestic market. India is one of the top sugar exporting countries in the world.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Minister for Industry, Commerce and Supplies Ramesh Rijal, Nepal had written to India in mid-July asking for 100,000 tons of rice, 50,000 tons of sugar and 5,000 tons of paddy. India has not yet sent a reply. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We requested food grains from India to prevent shortage in our market. However, India has not given any response,” said the minister, adding, “A few weeks ago, we again took a diplomatic initiative with the Indian government. The Indian side agreed to supply sugar but it is not certain when.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18997', 'image' => '20231016012240_sugar.jpg', 'article_date' => '2023-10-16 13:21:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19268', 'article_category_id' => '1', 'title' => 'Tremor Felt in Sudurpaschim Province ', 'sub_title' => '', 'summary' => 'October 16: An earthquake was felt in the hill districts of Sudurpaschim province, including in Baitadi, this morning. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: An earthquake was felt in the hill districts of Sudurpaschim province, including in Baitadi, this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Earthquake Measurement Centre Surkhet, Bal Bahadur Tamang, said that an earthquake measuring 4.8 on the Richter scale with epicentre at Batan, India, adjoining Darchula district occurred at 9.26 am on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The District Police Office Baitadi said they have not received any information about the damage so far.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Of late, earthquakes have been occurring frequently in far-western Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18996', 'image' => '20231016124037_earth.jpg', 'article_date' => '2023-10-16 12:39:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19267', 'article_category_id' => '1', 'title' => 'Tilicho Lake now has Access to Internet ', 'sub_title' => '', 'summary' => 'October 16: Tilicho Lake, which lies at an altitude of 4919 metres above the sea level, has now access to internet connectivity. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: Tilicho Lake, which lies at an altitude of 4919 metres above the sea level, has now access to internet connectivity. The internet service was lunched for the convenience of tourists visiting the lake in the mountainous district Manang. It is expected to be highly effective for communications in case of altitude sickness and other emergency situations, said Cholpa Gurung, ward chair of Manang’s Dinsang Rural Municipality-9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> "The availability of the internet facility is expected to reduce incidents of visitors going missing or falling ill. Visitors can now contact their families and relatives in case of emergency," he said. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The hotel and tourism entrepreneurs installed the internet service in the area to facilitate the tourists visiting Tilicho Lake, said Karma Dendu Gurung, a hotel entrepreneur.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arrival of tourists is increasing in Manang. Both domestic and foreign tourists visit this place to view the sceneries of the mountains and hills as well as to experience the culture and lifestyle of the local people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Over 200 foreign tourists visit the district on a daily basis, said Bhupendra Gurung, chief of the tourist check and information centre of the Annapurna Conservation Area Project (ACAP) in Dharapani. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The inflow of tourists may increase during Dashain and Tihar. The lake falls on the Annapurna Circuit which is linked with five districts, Lamjung, Manang, Mustang, Myagdi and Kaski. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In eight months of 2023, over 14,200 tourists have visited this route. Most of the trekkers were from Israel, France and Germany, said the centre. However, according to the centre, it does not have exact data of domestic tourists hiking the route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The increasing inflow of tourists, both domestic and foreign of late, has encouraged tourism entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the health of visiting tourists, ACAP has set up a temporary health post in the area in coordination with the rural municipality. The ACAP provides information to the tourists visiting Tilicho Lake and Thorangla Pass about possible health hazards and risks that may take place in course of the journey. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18995', 'image' => '20231016105041_Tilicho.jpg', 'article_date' => '2023-10-16 10:50:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19266', 'article_category_id' => '1', 'title' => 'NOC Slashes Fuel Prices', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Sunday midnight.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 16: The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Sunday midnight. In a press statement issued by the NOC on Sunday, the NOC slashed fuel prices significantly. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The price of petrol will now be Rs 11 per litre cheaper, while both diesel and kerosene will see a reduction of Rs 5 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the price adjustment, the petrol will cost Rs 169 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj. Meanwhile, diesel will be priced at Rs 165 per litre at these places. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the petrol will be priced at Rs 171 per litre petrol in Dang and Surkhet, and Rs 172 per litre in Kathmandu, Pokhara, and Dipayal. The NOC said that it adjusted the price reductions in line with the new pricing structure received from the Indian Oil Corporation (IOC).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18994', 'image' => '20231016054222_collage (12).jpg', 'article_date' => '2023-10-16 05:40:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '19265', 'article_category_id' => '1', 'title' => 'Reliable Nepal Life Insurance Limited Provides Motivational Training to Its Agents', 'sub_title' => '', 'summary' => 'Reliable Nepal Life Insurance Limited organized a programme to felicitate its agents on the occasion of Dashain and Tihar festivals in Manthali.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">October 15: Reliable Nepal Life Insurance Limited organized a programme to felicitate its agents on the occasion of Dashain and Tihar festivals in Manthali. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The insurance’s Manthali branch under Bagmati Province office Banepa provided a motivational session, imparted a training and hounured agency managers and agents working in the insurance’s Manthali branch. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The program had the presence of 38 agents from Reliable Nepal Life. The event in Manthali branch was graced by the Branch Chief, Santosh Shrestha, and the Bagmati Province Chief, Surendra Thapa. During the event, the agents were provided with motivational training.</span></span></span></p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18993', 'image' => '20231015051103_collage (11).jpg', 'article_date' => '2023-10-15 17:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19264', 'article_category_id' => '1', 'title' => 'NAC Plans to Purchase up to 10 Aircraft in Current Fiscal Year ', 'sub_title' => '', 'summary' => 'October 15: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said that the state-owned Nepal Airlines Corporation (NAC) will procure ten new aircraft within the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 15: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said that the state-owned Nepal Airlines Corporation (NAC) will procure ten new aircraft within the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that the government decided to add more aircraft for the NAC to end the anomalies in the airfares. He made the revelation during a meeting with a group of students at his official residence in Pulchowk on Sunday.</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"">"There is no other alternative to intervene in the airfares without enhancing the capacity of NAC,” said Minister Kirati, adding the procurement process will begin shortly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NAC is preparing to purchase three twin-otters for domestic flights. The NAC currently has two twin-otters to conduct flights to remote areas.</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 Minister Kirati, the NAC has been operating flights from Nepaligunj airport to rural areas throughout Dashain. He pledged to sit for talks with authorities concerned to prevent the potential allocation of air tickets in the black market during festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The students' delegation led by Nepal Students Union President Dujang Sherpa handed a memorandum to the minister, demanding the containment of possible distributions of air tickets oin the black market during festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NSU urged the NAC to operate flights targeting mountainous region and remote areas for the convenience of travelers during the festive season. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18992', 'image' => '20231015043431_20230428123538_nac twin.jpg', 'article_date' => '2023-10-15 16:33:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19263', 'article_category_id' => '1', 'title' => 'Dashain Business Dismal Despite Bustling Crowd', 'sub_title' => '', 'summary' => 'October 15: Usually, the market bustles with life with the onset of Dashain and Tihar as people flock to the market places for shopping. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">October 15: Usually, the market bustles with life with the onset of Dashain and Tihar as people flock to the market places for shopping. However, the business is disappointing this year due to the recession in the economy, which has reduced the purchasing power of the general public.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">With the onset of Dashain, the main business centers of Kathmandu including New Road, Khichhapokhari, Asan, Indrachok, Sundhara, Bhotahiti, Koteshwar, Baneshwar and other places are crowded with consumers. Traders in those areas, however, complain that there is no encouraging business despite the crowd.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">There is a trend among consumers to go to New Road or Asan to buy even small items. As a result, more congestion can be seen in these areas than normal times. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“However, not all of those consumers come to shop for Dashain,” says Bimal Prajapati, a businessman, adding, “There are more consumers who are looking for cheap goods because the price of every product has increased in the market. That's why there is a lot of crowd in the shops that have sale going on.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Economic recession and high interest rates of banks have slowed down the pace of trade and business. Businessmen who have been importing goods from different countries since June and July, targeting the festival, say that this year they have imported goods sparsely due to low demand in the market. Traders say that they do not feel like Dashain this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">At present, the price of every commodity including food, petroleum products has increased in the market. However, the consumer's income is limited. Due to this, consumers have changed their shopping habits affecting the market. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Naresh Katuwal, president of the Nepal National Traders’ Federation said that there is never 100 percent business in the market. In normal conditions, the business is 75 to 80 percent, but this year it has shrunk to 30 to 40 percent. According to him, goods are going from wholesale to retail market for the festive season. However, complaints of lack of retail trade are increasing. Previously, it was customary for those leaving Kathmandu to buy goods from here when returning home. He speculated that the business may have decreased during the festival probably because goods are now available in the villages.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18991', 'image' => '20231015114416_20211006084739_Clipboard49.jpg', 'article_date' => '2023-10-15 11:43:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19260', 'article_category_id' => '1', 'title' => 'Ghatasthapana Today Marks the Beginning of Dashain Festival', 'sub_title' => '', 'summary' => 'October 15: The Navaratri Parba or the nine-night festival of Bada Dashain, the great festival of the Hindus of Nepal, has commenced from today (October 15). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 15: The Navaratri Parba or the nine-night festival of Bada Dashain, the biggest festival of Nepal, has commenced from today (October 15). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The first day of the Dashain festival is called "Ghatasthapana" that falls on the first day of the bright half of the lunar calendar in the Nepali month of Ashwin (mid-September to mid-October). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the day of Ghatasthapana, different communities of Nepal, especially the Hindus, worship Diyo (an oil-fed lamp), Kalas (auspicious jar) and lord Ganesh in accordance with the Vedic rituals and sow barley seeds in a jar filled with soil and cow dung for germination of the auspicious Jamara (barley shoots). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees offer prayers to Durga Bhavani, the goddess of power, today. Germination of the auspicious "Jamara" is also done at the Hanumandhoka Palace in accordance with the Vedic rituals on this special day. There is also a tradition of sacrificing animals while initiating the germination of the "Jamara". </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Also today, prayers are offered to goddess Mahakali, Mahalaxmi and Mahasaraswati at the Dashain Ghar of Hanumandhoka Palace, marking the beginning of the Navaratri (nine nights). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The barley shoots and the auspicious Tika are given by parents to their children and by elders to their juniors on the tenth day of the Bada Dashain festival with blessings for peace, prosperity and happiness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The auspicious hour for receiving Tika this year is 11:02 am, according to the Nepal Calendar Determination Committee. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the Navaratri, thousands of devotees visit temples such as Naxal Bhagawati, Shobha Bhagawati, Maitidevi, Guheswori, Bhadrakali, Kalikasthan, Sankata, Mahankalsthan, Naradevi, Bijayeswori, Indrayani, Dakshinkali, Chamunda and other shrines of Goddess Durga Bhavani. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People also recite sacred verses and hymns dedicated to Durga Bhawani at temples and shrines as well as at their homes throughout the Dashain period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18990', 'image' => '20231015111340_20220918023227_maxresdefault.jpg', 'article_date' => '2023-10-15 11:13:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '19276', 'article_category_id' => '1', 'title' => 'China Prepares for BRI Summit under Shadow of Israel-Gaza War ', 'sub_title' => '', 'summary' => 'October 17: China on Monday prepared to host representatives of 130 countries for a forum that will be overshadowed by the Israel-Gaza war, as an increasingly assertive Beijing is asked to help de-escalate the violence. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: China on Monday prepared to host representatives of 130 countries for a forum that will be overshadowed by the Israel-Gaza war, as an increasingly assertive Beijing is asked to help de-escalate the violence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the top of the invite list to China's Belt and Road Initiative (BRI) forum is Russia's President Vladimir Putin, on his first trip to a major global power since the Ukraine invasion threw his regime into international isolation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Leaders have begun to trickle into the Chinese capital for a gala event marking a decade of the BRI -- a key project of President Xi Jinping to extend China's global reach. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While China hopes the forum will help boost its standing as a leading global power, Israel's war with Palestinian militant organisation Hamas will continue to dominate the headlines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel declared war on the Islamist group after waves of its fighters broke through the heavily fortified border on October 7, shooting, stabbing and burning to death more than 1,400 people, most of them civilians. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under heavy Israeli bombardment of the Hamas-ruled Gaza Strip, more than one million people have fled their homes in scenes of chaos and despair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel's bombing has left at least 2,670 people dead in Gaza, mainly civilians, and flattened entire neighbourhoods. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">China's Foreign Minister Wang Yi has condemned Israel's actions for going "beyond the scope of self-defence" and called for it to "cease its collective punishment of the people of Gaza". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"(Israel) should listen earnestly to the calls of the international community and the UN secretary general, and cease its collective punishment of the people of Gaza," Wang said Sunday, in what is the strongest stance China has expressed so far on the conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Beijing has been criticised by Western officials for not specifically naming Hamas in its statements on the Israel-Gaza conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wang had on Sunday spoken with US Secretary of State Antony Blinken, who called on China to use its "influence" in the Middle East to push for calm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China has a warm relationship with Iran, whose clerical leadership supports both Hamas and Hezbollah, the Lebanese militant group that could open a second front against Israel. Earlier this year, China brokered an entente between former regional foes Iran and Saudi Arabia. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Beijing's special envoy Zhai Jun will visit the Middle East this week to push for a ceasefire in the Israel-Hamas conflict and promote peace talks, China's state broadcaster CCTV said on Sunday, without specifying which countries he would visit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Niva Yau, a nonresident fellow with the Atlantic Council's Global China Hub, told AFP the BRI summit would allow Beijing to frame attendance as a gesture of support for its position. "Any head of state that attends the summit, it's almost as if they agree with Beijing's positions on these global issues," she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Strategic dependence </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A number of leaders have already arrived in Beijing ahead of the two-day forum, which kicks off Tuesday. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Among them are Hungarian Prime Minister Viktor Orban, Chilean President Gabriel Boric, Kenyan President William Ruto and Ethiopian Prime Minister Abiy Ahmed. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On Monday Russia's top diplomat Sergei Lavrov flew into Beijing and within hours held talks with China's Foreign Minister Wang Yi. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Putin -- whose strategic dependence on China has only grown since his invasion of neighbouring Ukraine thrust his country into international isolation -- was expected to arrive overnight. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">This year, trade between China and Russia has soared to levels not seen since the beginning of Moscow's war in Ukraine, with Chinese imports of Russian oil offering Moscow a critical lifeline as international sanctions bite. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">China has refused to condemn the Ukraine war in an effort to position itself as a neutral party, while at the same time offering Moscow vital diplomatic and financial support. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the heart of the deepening partnership is the relationship between Xi and Putin, who have described each other as "dear friends". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Their alliance is also forged by a symbiotic necessity, each seeing the other as a necessary bulwark in their shared struggle against Western dominance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an interview with Chinese state broadcaster CGTN ahead of his visit this week, Putin hailed ties with Beijing and the "mutual benefits" of the BRI. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"President Putin pointed out that a multipolar world is taking shape, and the concepts and initiatives put forward by President Xi Jinping are highly relevant and significant," CGTN reported. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"He stated that President Xi Jinping is a well-recognised leader on the world stage and is a true world leader," it said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Putin also reportedly "shared pleasant memories between President Xi and him, and hoped tradition continues when they meet in China in the future." -- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '19004', 'image' => '20231017112944_XxjpbeE007202_20231016_PEPFN1A001.JPG', 'article_date' => '2023-10-17 11:28:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19275', 'article_category_id' => '1', 'title' => 'Untimely Rainfall Disappoints Farmers ', 'sub_title' => '', 'summary' => 'October 17: The untimely rainfall has disappointed farmers in Kailali district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The untimely rainfall has disappointed farmers in Kailali district. The rainfall which occurred since Monday afternoon upset farmers as they were about to harvest rice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They are worried how they would harvest rice safely amidst such erratic weather. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A farmer from Tikapur, Nirmal BK, said the paddy they harvested and spread to dry in the field has become wet due to the ill-timed rainfall.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"I waited for a tractor to collect the crop, but it did not come. The rainfall drenched the rice. The storm has further strewn it. If the rainfall continues, the crop will perish in the field," he shared his plight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another farmer Padam Oli shared that paddy is ripe in the field. He did not harvest the paddy, worrying about storms on Monday, but the rains coupled with storm damaged the ripe paddy. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"If the rainfall does not stop, it certainly damages the crop," he said, wondering, "Why does rainfall occur when it is time to harvest rice?" </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the farmers in Kailali district are upset, reasoning rainfall occurs when they are ready to harvest rice. They experienced it for three years. It has resulted in loss of production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In 2078 BS, the floods triggered by the rainfall swept away the harvest time rice. Last year, we were able to save half of the crops," said Hari Chaudhary, adding, "We have not harvested rice due to erratic weather. The storm coupled with rainfall has damaged half the yield this year too. The adverse weather is a bane for farmers.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another farmer Parbati Chaudhari said that the paddy harvested and spread to dry in the field was damaged due to the sudden change in weather. “Only half of the crop remained,” she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Tikapur Municipality and Janaki Rural Municipality have suggested the farmers to wait for some days to harvest rice. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '19003', 'image' => '20231018110312_SureshAcharya_Surkhet_RSS_30_20231017_064031.jpg', 'article_date' => '2023-10-17 11:03:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19274', 'article_category_id' => '1', 'title' => 'Collective Efforts Essential to Improve Economy: Finance Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat emphasized the importance of collective efforts to improve the country's economy. He stressed that relying solely on government initiatives would not be sufficient for economic improvement.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 17: Finance Minister Dr. Prakash Sharan Mahat emphasized the importance of collective efforts to improve the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He stressed that relying solely on government initiatives would not be sufficient for economic improvement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During an inauguration of the Female Economic Journalists Association (FEJA) in Kathmandu, Minister Mahat expressed need for support from all sectors to boost the economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Mahat said the gradual signs of economic improvement in the country but stressed that the efforts of the government and the Finance Ministry alone were inadequate. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He called for a joint commitment from all stakeholders to work towards economic enhancement, assuring that the Finance Ministry was prepared to address any obstacles hindering progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Minister Mahat emphasized the importance of empowering women for the socio-economic development of the nation, highlighting the increased participation of women in various sectors, such as health and education, following the adoption of the concept of inclusive development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Sharmila Thakuri, Chair of FEJA, stated that FEJA's establishment is aimed at playing a coordinating role in the skill and capacity development of women journalists working in economic beat. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '19002', 'image' => '20231017055331_collage (13).jpg', 'article_date' => '2023-10-17 05:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19273', 'article_category_id' => '1', 'title' => 'NEPSE’s Downfall Continues', 'sub_title' => '', 'summary' => 'The Nepal Stock(NEPSE) Index lost 23.16 points or 1.23%, closing at 1851.43 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 16: The Nepal Stock(NEPSE) Index lost 23.16 points or 1.23%, closing at 1851.43 points on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investors and stock analysts have attributed today's market loss to the impending Dashain festival. According to one investor, NEPSE experienced selling pressure as the Dashain festival draws near.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, 284 different stocks were traded in 69,832 transactions in the NEPSE. A total of 4,837,893 units of shares exchanged their hands, amounting to Rs 1.25 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prabhu Bank Limited Promoter Share (PRVUPO) had the highest turnover, reaching Rs. 6.24 crores, and closed at a market price of Rs. 108.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Siddhartha Premier Insurance Limited (SPIL) recorded the highest gain of 7.87% today. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Sayapatri Hydropower Limited (SPHL) and Hathway Investment Nepal Limited (HATHY) witnessed the highest loss of 10%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices closed in the red territory. "Life Insurance Index" lost the highest 2.09% while "Manufacturing And Processing" lost the least of 0.57% for today.</span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '19001', 'image' => '20231016051813_collage (24).jpg', 'article_date' => '2023-10-16 17:16:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19272', 'article_category_id' => '1', 'title' => 'NRB Neglects Maintaining Interest Rate Corridor', 'sub_title' => '', 'summary' => 'October 16: Nepal Rastra Bank has neglected the implementation of the interest rate corridor, which was started with the aim of maintaining interest rate stability by minimizing short-term interest rate fluctuations.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 16: Nepal Rastra Bank has neglected the implementation of the interest rate corridor, which was started with the aim of maintaining interest rate stability by minimizing short-term interest rate fluctuations.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The main objective of the interest corridor is to keep the interbank interest rate within a certain limit. However, even though the interbank interest rate has fallen below the limit since the last one month, NRB has not used monetary instruments to maintain the interest rate.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has set the target of keeping the average interbank interest rate higher than the bank rate and lower than the deposit collection rate in the monetary policy of the current financial year (FY). There is a provision in the policy to use various monetary tools to keep the interbank interest rate in the middle while keeping the upper limit of the interest rate corridor at 7.5 percent and the lower limit at 4.5 percent.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, even though the interbank interest rate has fallen below the monetary policy target since September 13, NRB has not used monetary instruments to draw liquidity from the market to increase the interest rate. In the monetary policy, it is mentioned that if the interest rate is higher or lower than the target, secondary market transactions and deposit collection will be opened.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">On September 13, the interbank interest rate fell to 4.14 percent. Since then, the interbank interest rate, which has been below the limit, remained at 1.90 percent even on Wednesday, October 11. Meanwhile, on October 6, the interbank interest rate had dropped to 1.79 percent.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data of NRB, the average credit to deposit ratio (CD ratio) of banks on October 10 was 81.86 percent. As the banks are allowed to give loans by maintaining CD radio up to 90%, they still have the capacity to extend loans of around Rs 475 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, banks have been saying that there is no demand for loans due to high interest rates and weak economy. Due to high liquidity in banks due to lack of demand for loans, the interbank interest rate has fallen below the lower limit of the corridor.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to the fall in interest rates, the government also emphasized on raising domestic debt. The government changed the schedule to collect loans when interest rates fell. Anil Sharma, Chief Executive Officer of Nepal Bankers' Association says that the interbank interest rate decreased after the government allowed the amount of local level accumulated funds to be counted as deposits, and at the same time, the government also raised internal loans.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB Deputy Spokesperson Dr. Dilliram Pokharel says that the current interest rate is of a short-term nature and that monetary instruments were not used because the government insisted on raising internal debt.</span></span></span></p> <p> </p> <p> </p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '19000', 'image' => '20231016034603_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-10-16 15:45:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19271', 'article_category_id' => '1', 'title' => 'NEA Gets 'Double A Plus' Credit Rating ', 'sub_title' => '', 'summary' => 'October 16: The Nepal Electricity Authority (NEA) has once again received the 'Double A Plus' credit rating.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: The Nepal Electricity Authority (NEA) has once again received the 'Double A Plus' credit rating. ICRA Nepal Ltd, a credit rating agency in Nepal, has granted the 'ICRA NP Double A Plus' to the NEA, the state-owned entity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recipients of this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. They carry very low credit risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The financial status of NEA, assets, business and financial risks, managerial capacity, internal and external environmental factors affecting operational effectiveness were assessed by the ICRA Nepal before assigning an issuer rating of Double A Plus to the organisation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Credit ratings serve as a tool for assessing the creditworthiness of both individuals and organizations and for expressing opinion. They provide opinions on an entity's ability to meet its debt obligations, presenting a clear and simple indicator about related financial risks. According to ICRA Nepal, the rating is only an opinion on the general creditworthiness of the rated entity and is not specific to any debt instrument. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA Managing Director Kulman Ghising said the NEA has bagged the 'Double A Plus' credit rating from among the public entities, presenting its high-level of capacity to bear financial obligations. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18999', 'image' => '20231016030910_20230913111412_NEA_20191104081559.jpg', 'article_date' => '2023-10-16 15:08:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19270', 'article_category_id' => '1', 'title' => 'Govt Preparing to Set Up an Industrial Zone in Simara SEZ', 'sub_title' => '', 'summary' => 'October 16: A new industrial zone is going to be built on the land of the Special Economic Zone (SEZ) in Bara's Simara.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 16: A new industrial zone is going to be built on the land of the Special Economic Zone (SEZ) in Bara's Simara. The Ministry of Industry, Commerce and Supply is preparing to set up a new industrial zone in the SEZ.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Minister for Industry, Commerce and Supplies Ramesh Rijal said in an interaction with the entrepreneurs that an industrial zone will be built on 400 bighas of land in the D and E blocks of Simara SEZ.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Senior Vice President of Birgunj Chamber of Commerce and Industries, Hari Gautam, informed NBA that Minister Rijal revealed the plan during a visit to Simara to discuss about the industrial sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“A proposal for the new industrial zone will be submitted to the Council of Ministers after Dashain. Once the proposal is passed by the Council of Ministers, the construction of the industrial zone will proceed," said Gautam, quoting Minister Rijal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">SEZ has prepared structures in three of out of five blocks. Gautam said that getting land for new industries is becoming difficult in the Bara-Parsa Industrial Corridor, and that the entrepreneurs are excited about the preparation of a new industrial zone. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Ministry of Industry, Commerce and Supplies had commissioned the Industrial Area Management Limited to conduct a feasibility study for the establishment of an industrial zone. The ministry said that the body has submitted a report with the conclusion that Simara is the most suitable place for establishing an industrial zone. It is mentioned in the report that the location is best for the industrial sector due to its infrastructure, and proximity to the seaport, and access to expressway.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Industrial Area Management Limited and the SEZ Authority Board of Directors have approved the proposal for the construction of the industrial zone. As entrepreneurs are not attracted to SEZs, there is a demand to make SEZs an industrial zone. Although the industries have been invited to SEZ's A, B and C blocks, the entrepreneurs are not excited.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rijal also said that preparations are being made to reduce the mandatory export limit from 60 per cent to 30 per cent for the industries operating in SEZ. The minister informed that the rent of SEZ will also be reduced from Rs 20 to Rs 10 per square meter. This measure has been adopted to attract industries to SEZ. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18998', 'image' => '20231016021527_1697423282.2023-10-16 08.13.02.jpg', 'article_date' => '2023-10-16 14:14:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19269', 'article_category_id' => '1', 'title' => 'Government Fails to Import Sugar Before Dashain', 'sub_title' => '', 'summary' => 'October 16: The government has failed in its efforts to supply duty-free sugar to the consumers before Dashain. ', '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:"Nirmala UI","sans-serif"">October 16: The government has failed in its efforts to supply duty-free sugar to the consumers before Dashain. The government was unable to import sugar before Dashain as India did not show any interest to supply sugar to Nepal through the G2G process. Another reason for the failure was the delay in granting permission to import sugar to the Salt Trading Corporation (STC) and the Food Management and Trading Company (FMTC), which are responsible for the import and distribution of duty exempted sugar in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Ministry of Industry, Commerce and Supplies had sent a letter to the Ministry of Finance in July seeking permission to proceed with the process to import 60,000 metric tons of sugar with customs exemption, especially for the festive season. However, the Ministry of Finance did not respond to the letter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The STC and FMTC could not import sugar before Dashain due to the delay in getting approval for import. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In mid-September, the Finance Ministry granted permission to the Salt Trading Corporation and Food Management and Trading Company to import 20,000 tons of sugar at 50 percent customs exepmtion. Although Salt Trading Corporation and Food Management and Trading Company were assigned the responsibility to import 10,000 tons of sugar each, both these companies have admitted that they will not be able to import sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kumar Rajbhandari, spokesperson of the Salt Trading Corporation, said that it is certain that subsidized sugar cannot be brought before Dashain. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He blamed the Finance Ministry for giving approval to purchase sugar when it was already too late.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that a 15-day notice was issued to import sugar on a fast-track basis and a company was also selected but it was not possible to bring sugar because India did not supply sugar. According to Rajbhandari, it would be too expensive to bring sugar from other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">At present, India has not exported sugar to other countries, due to which the price of sugar has become expensive in the international market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“When we bring it from other countries, we have to sell it here at a high price. That is why we have reached the decision not to bring sugar for now," 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:"Nirmala UI","sans-serif"">The FMTC had issued a 45-day notice which will expire after mid-November. By that time, the festival of Dashain will already have finished. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">With the start of the festive season, the government took the initiative to bring 50,000 metric tons of sugar from India through the G2G (Government to Government) process, but it was not successful. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, India banned sugar exports a few months ago after the price of sugar started increasing in its domestic market. India is one of the top sugar exporting countries in the world.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Minister for Industry, Commerce and Supplies Ramesh Rijal, Nepal had written to India in mid-July asking for 100,000 tons of rice, 50,000 tons of sugar and 5,000 tons of paddy. India has not yet sent a reply. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We requested food grains from India to prevent shortage in our market. However, India has not given any response,” said the minister, adding, “A few weeks ago, we again took a diplomatic initiative with the Indian government. The Indian side agreed to supply sugar but it is not certain when.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18997', 'image' => '20231016012240_sugar.jpg', 'article_date' => '2023-10-16 13:21:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19268', 'article_category_id' => '1', 'title' => 'Tremor Felt in Sudurpaschim Province ', 'sub_title' => '', 'summary' => 'October 16: An earthquake was felt in the hill districts of Sudurpaschim province, including in Baitadi, this morning. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: An earthquake was felt in the hill districts of Sudurpaschim province, including in Baitadi, this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Earthquake Measurement Centre Surkhet, Bal Bahadur Tamang, said that an earthquake measuring 4.8 on the Richter scale with epicentre at Batan, India, adjoining Darchula district occurred at 9.26 am on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The District Police Office Baitadi said they have not received any information about the damage so far.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Of late, earthquakes have been occurring frequently in far-western Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18996', 'image' => '20231016124037_earth.jpg', 'article_date' => '2023-10-16 12:39:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19267', 'article_category_id' => '1', 'title' => 'Tilicho Lake now has Access to Internet ', 'sub_title' => '', 'summary' => 'October 16: Tilicho Lake, which lies at an altitude of 4919 metres above the sea level, has now access to internet connectivity. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: Tilicho Lake, which lies at an altitude of 4919 metres above the sea level, has now access to internet connectivity. The internet service was lunched for the convenience of tourists visiting the lake in the mountainous district Manang. It is expected to be highly effective for communications in case of altitude sickness and other emergency situations, said Cholpa Gurung, ward chair of Manang’s Dinsang Rural Municipality-9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> "The availability of the internet facility is expected to reduce incidents of visitors going missing or falling ill. Visitors can now contact their families and relatives in case of emergency," he said. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The hotel and tourism entrepreneurs installed the internet service in the area to facilitate the tourists visiting Tilicho Lake, said Karma Dendu Gurung, a hotel entrepreneur.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arrival of tourists is increasing in Manang. Both domestic and foreign tourists visit this place to view the sceneries of the mountains and hills as well as to experience the culture and lifestyle of the local people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Over 200 foreign tourists visit the district on a daily basis, said Bhupendra Gurung, chief of the tourist check and information centre of the Annapurna Conservation Area Project (ACAP) in Dharapani. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The inflow of tourists may increase during Dashain and Tihar. The lake falls on the Annapurna Circuit which is linked with five districts, Lamjung, Manang, Mustang, Myagdi and Kaski. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In eight months of 2023, over 14,200 tourists have visited this route. Most of the trekkers were from Israel, France and Germany, said the centre. However, according to the centre, it does not have exact data of domestic tourists hiking the route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The increasing inflow of tourists, both domestic and foreign of late, has encouraged tourism entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the health of visiting tourists, ACAP has set up a temporary health post in the area in coordination with the rural municipality. The ACAP provides information to the tourists visiting Tilicho Lake and Thorangla Pass about possible health hazards and risks that may take place in course of the journey. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18995', 'image' => '20231016105041_Tilicho.jpg', 'article_date' => '2023-10-16 10:50:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19266', 'article_category_id' => '1', 'title' => 'NOC Slashes Fuel Prices', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Sunday midnight.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 16: The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Sunday midnight. In a press statement issued by the NOC on Sunday, the NOC slashed fuel prices significantly. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The price of petrol will now be Rs 11 per litre cheaper, while both diesel and kerosene will see a reduction of Rs 5 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the price adjustment, the petrol will cost Rs 169 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj. Meanwhile, diesel will be priced at Rs 165 per litre at these places. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the petrol will be priced at Rs 171 per litre petrol in Dang and Surkhet, and Rs 172 per litre in Kathmandu, Pokhara, and Dipayal. The NOC said that it adjusted the price reductions in line with the new pricing structure received from the Indian Oil Corporation (IOC).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18994', 'image' => '20231016054222_collage (12).jpg', 'article_date' => '2023-10-16 05:40:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '19265', 'article_category_id' => '1', 'title' => 'Reliable Nepal Life Insurance Limited Provides Motivational Training to Its Agents', 'sub_title' => '', 'summary' => 'Reliable Nepal Life Insurance Limited organized a programme to felicitate its agents on the occasion of Dashain and Tihar festivals in Manthali.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">October 15: Reliable Nepal Life Insurance Limited organized a programme to felicitate its agents on the occasion of Dashain and Tihar festivals in Manthali. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The insurance’s Manthali branch under Bagmati Province office Banepa provided a motivational session, imparted a training and hounured agency managers and agents working in the insurance’s Manthali branch. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The program had the presence of 38 agents from Reliable Nepal Life. The event in Manthali branch was graced by the Branch Chief, Santosh Shrestha, and the Bagmati Province Chief, Surendra Thapa. During the event, the agents were provided with motivational training.</span></span></span></p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18993', 'image' => '20231015051103_collage (11).jpg', 'article_date' => '2023-10-15 17:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19264', 'article_category_id' => '1', 'title' => 'NAC Plans to Purchase up to 10 Aircraft in Current Fiscal Year ', 'sub_title' => '', 'summary' => 'October 15: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said that the state-owned Nepal Airlines Corporation (NAC) will procure ten new aircraft within the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 15: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said that the state-owned Nepal Airlines Corporation (NAC) will procure ten new aircraft within the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that the government decided to add more aircraft for the NAC to end the anomalies in the airfares. He made the revelation during a meeting with a group of students at his official residence in Pulchowk on Sunday.</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"">"There is no other alternative to intervene in the airfares without enhancing the capacity of NAC,” said Minister Kirati, adding the procurement process will begin shortly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NAC is preparing to purchase three twin-otters for domestic flights. The NAC currently has two twin-otters to conduct flights to remote areas.</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 Minister Kirati, the NAC has been operating flights from Nepaligunj airport to rural areas throughout Dashain. He pledged to sit for talks with authorities concerned to prevent the potential allocation of air tickets in the black market during festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The students' delegation led by Nepal Students Union President Dujang Sherpa handed a memorandum to the minister, demanding the containment of possible distributions of air tickets oin the black market during festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NSU urged the NAC to operate flights targeting mountainous region and remote areas for the convenience of travelers during the festive season. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18992', 'image' => '20231015043431_20230428123538_nac twin.jpg', 'article_date' => '2023-10-15 16:33:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19263', 'article_category_id' => '1', 'title' => 'Dashain Business Dismal Despite Bustling Crowd', 'sub_title' => '', 'summary' => 'October 15: Usually, the market bustles with life with the onset of Dashain and Tihar as people flock to the market places for shopping. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">October 15: Usually, the market bustles with life with the onset of Dashain and Tihar as people flock to the market places for shopping. However, the business is disappointing this year due to the recession in the economy, which has reduced the purchasing power of the general public.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">With the onset of Dashain, the main business centers of Kathmandu including New Road, Khichhapokhari, Asan, Indrachok, Sundhara, Bhotahiti, Koteshwar, Baneshwar and other places are crowded with consumers. Traders in those areas, however, complain that there is no encouraging business despite the crowd.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">There is a trend among consumers to go to New Road or Asan to buy even small items. As a result, more congestion can be seen in these areas than normal times. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“However, not all of those consumers come to shop for Dashain,” says Bimal Prajapati, a businessman, adding, “There are more consumers who are looking for cheap goods because the price of every product has increased in the market. That's why there is a lot of crowd in the shops that have sale going on.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Economic recession and high interest rates of banks have slowed down the pace of trade and business. Businessmen who have been importing goods from different countries since June and July, targeting the festival, say that this year they have imported goods sparsely due to low demand in the market. Traders say that they do not feel like Dashain this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">At present, the price of every commodity including food, petroleum products has increased in the market. However, the consumer's income is limited. Due to this, consumers have changed their shopping habits affecting the market. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Naresh Katuwal, president of the Nepal National Traders’ Federation said that there is never 100 percent business in the market. In normal conditions, the business is 75 to 80 percent, but this year it has shrunk to 30 to 40 percent. According to him, goods are going from wholesale to retail market for the festive season. However, complaints of lack of retail trade are increasing. Previously, it was customary for those leaving Kathmandu to buy goods from here when returning home. He speculated that the business may have decreased during the festival probably because goods are now available in the villages.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18991', 'image' => '20231015114416_20211006084739_Clipboard49.jpg', 'article_date' => '2023-10-15 11:43:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19260', 'article_category_id' => '1', 'title' => 'Ghatasthapana Today Marks the Beginning of Dashain Festival', 'sub_title' => '', 'summary' => 'October 15: The Navaratri Parba or the nine-night festival of Bada Dashain, the great festival of the Hindus of Nepal, has commenced from today (October 15). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 15: The Navaratri Parba or the nine-night festival of Bada Dashain, the biggest festival of Nepal, has commenced from today (October 15). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The first day of the Dashain festival is called "Ghatasthapana" that falls on the first day of the bright half of the lunar calendar in the Nepali month of Ashwin (mid-September to mid-October). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the day of Ghatasthapana, different communities of Nepal, especially the Hindus, worship Diyo (an oil-fed lamp), Kalas (auspicious jar) and lord Ganesh in accordance with the Vedic rituals and sow barley seeds in a jar filled with soil and cow dung for germination of the auspicious Jamara (barley shoots). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees offer prayers to Durga Bhavani, the goddess of power, today. Germination of the auspicious "Jamara" is also done at the Hanumandhoka Palace in accordance with the Vedic rituals on this special day. There is also a tradition of sacrificing animals while initiating the germination of the "Jamara". </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Also today, prayers are offered to goddess Mahakali, Mahalaxmi and Mahasaraswati at the Dashain Ghar of Hanumandhoka Palace, marking the beginning of the Navaratri (nine nights). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The barley shoots and the auspicious Tika are given by parents to their children and by elders to their juniors on the tenth day of the Bada Dashain festival with blessings for peace, prosperity and happiness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The auspicious hour for receiving Tika this year is 11:02 am, according to the Nepal Calendar Determination Committee. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the Navaratri, thousands of devotees visit temples such as Naxal Bhagawati, Shobha Bhagawati, Maitidevi, Guheswori, Bhadrakali, Kalikasthan, Sankata, Mahankalsthan, Naradevi, Bijayeswori, Indrayani, Dakshinkali, Chamunda and other shrines of Goddess Durga Bhavani. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People also recite sacred verses and hymns dedicated to Durga Bhawani at temples and shrines as well as at their homes throughout the Dashain period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18990', 'image' => '20231015111340_20220918023227_maxresdefault.jpg', 'article_date' => '2023-10-15 11:13:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '19276', 'article_category_id' => '1', 'title' => 'China Prepares for BRI Summit under Shadow of Israel-Gaza War ', 'sub_title' => '', 'summary' => 'October 17: China on Monday prepared to host representatives of 130 countries for a forum that will be overshadowed by the Israel-Gaza war, as an increasingly assertive Beijing is asked to help de-escalate the violence. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: China on Monday prepared to host representatives of 130 countries for a forum that will be overshadowed by the Israel-Gaza war, as an increasingly assertive Beijing is asked to help de-escalate the violence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the top of the invite list to China's Belt and Road Initiative (BRI) forum is Russia's President Vladimir Putin, on his first trip to a major global power since the Ukraine invasion threw his regime into international isolation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Leaders have begun to trickle into the Chinese capital for a gala event marking a decade of the BRI -- a key project of President Xi Jinping to extend China's global reach. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While China hopes the forum will help boost its standing as a leading global power, Israel's war with Palestinian militant organisation Hamas will continue to dominate the headlines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel declared war on the Islamist group after waves of its fighters broke through the heavily fortified border on October 7, shooting, stabbing and burning to death more than 1,400 people, most of them civilians. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Under heavy Israeli bombardment of the Hamas-ruled Gaza Strip, more than one million people have fled their homes in scenes of chaos and despair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel's bombing has left at least 2,670 people dead in Gaza, mainly civilians, and flattened entire neighbourhoods. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">China's Foreign Minister Wang Yi has condemned Israel's actions for going "beyond the scope of self-defence" and called for it to "cease its collective punishment of the people of Gaza". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"(Israel) should listen earnestly to the calls of the international community and the UN secretary general, and cease its collective punishment of the people of Gaza," Wang said Sunday, in what is the strongest stance China has expressed so far on the conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Beijing has been criticised by Western officials for not specifically naming Hamas in its statements on the Israel-Gaza conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wang had on Sunday spoken with US Secretary of State Antony Blinken, who called on China to use its "influence" in the Middle East to push for calm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China has a warm relationship with Iran, whose clerical leadership supports both Hamas and Hezbollah, the Lebanese militant group that could open a second front against Israel. Earlier this year, China brokered an entente between former regional foes Iran and Saudi Arabia. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Beijing's special envoy Zhai Jun will visit the Middle East this week to push for a ceasefire in the Israel-Hamas conflict and promote peace talks, China's state broadcaster CCTV said on Sunday, without specifying which countries he would visit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Niva Yau, a nonresident fellow with the Atlantic Council's Global China Hub, told AFP the BRI summit would allow Beijing to frame attendance as a gesture of support for its position. "Any head of state that attends the summit, it's almost as if they agree with Beijing's positions on these global issues," she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Strategic dependence </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A number of leaders have already arrived in Beijing ahead of the two-day forum, which kicks off Tuesday. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Among them are Hungarian Prime Minister Viktor Orban, Chilean President Gabriel Boric, Kenyan President William Ruto and Ethiopian Prime Minister Abiy Ahmed. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On Monday Russia's top diplomat Sergei Lavrov flew into Beijing and within hours held talks with China's Foreign Minister Wang Yi. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Putin -- whose strategic dependence on China has only grown since his invasion of neighbouring Ukraine thrust his country into international isolation -- was expected to arrive overnight. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">This year, trade between China and Russia has soared to levels not seen since the beginning of Moscow's war in Ukraine, with Chinese imports of Russian oil offering Moscow a critical lifeline as international sanctions bite. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">China has refused to condemn the Ukraine war in an effort to position itself as a neutral party, while at the same time offering Moscow vital diplomatic and financial support. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the heart of the deepening partnership is the relationship between Xi and Putin, who have described each other as "dear friends". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Their alliance is also forged by a symbiotic necessity, each seeing the other as a necessary bulwark in their shared struggle against Western dominance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an interview with Chinese state broadcaster CGTN ahead of his visit this week, Putin hailed ties with Beijing and the "mutual benefits" of the BRI. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"President Putin pointed out that a multipolar world is taking shape, and the concepts and initiatives put forward by President Xi Jinping are highly relevant and significant," CGTN reported. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"He stated that President Xi Jinping is a well-recognised leader on the world stage and is a true world leader," it said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Putin also reportedly "shared pleasant memories between President Xi and him, and hoped tradition continues when they meet in China in the future." -- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '19004', 'image' => '20231017112944_XxjpbeE007202_20231016_PEPFN1A001.JPG', 'article_date' => '2023-10-17 11:28:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19275', 'article_category_id' => '1', 'title' => 'Untimely Rainfall Disappoints Farmers ', 'sub_title' => '', 'summary' => 'October 17: The untimely rainfall has disappointed farmers in Kailali district. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The untimely rainfall has disappointed farmers in Kailali district. The rainfall which occurred since Monday afternoon upset farmers as they were about to harvest rice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They are worried how they would harvest rice safely amidst such erratic weather. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A farmer from Tikapur, Nirmal BK, said the paddy they harvested and spread to dry in the field has become wet due to the ill-timed rainfall.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"I waited for a tractor to collect the crop, but it did not come. The rainfall drenched the rice. The storm has further strewn it. If the rainfall continues, the crop will perish in the field," he shared his plight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another farmer Padam Oli shared that paddy is ripe in the field. He did not harvest the paddy, worrying about storms on Monday, but the rains coupled with storm damaged the ripe paddy. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"If the rainfall does not stop, it certainly damages the crop," he said, wondering, "Why does rainfall occur when it is time to harvest rice?" </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the farmers in Kailali district are upset, reasoning rainfall occurs when they are ready to harvest rice. They experienced it for three years. It has resulted in loss of production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In 2078 BS, the floods triggered by the rainfall swept away the harvest time rice. Last year, we were able to save half of the crops," said Hari Chaudhary, adding, "We have not harvested rice due to erratic weather. The storm coupled with rainfall has damaged half the yield this year too. The adverse weather is a bane for farmers.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another farmer Parbati Chaudhari said that the paddy harvested and spread to dry in the field was damaged due to the sudden change in weather. “Only half of the crop remained,” she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Tikapur Municipality and Janaki Rural Municipality have suggested the farmers to wait for some days to harvest rice. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '19003', 'image' => '20231018110312_SureshAcharya_Surkhet_RSS_30_20231017_064031.jpg', 'article_date' => '2023-10-17 11:03:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19274', 'article_category_id' => '1', 'title' => 'Collective Efforts Essential to Improve Economy: Finance Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat emphasized the importance of collective efforts to improve the country's economy. He stressed that relying solely on government initiatives would not be sufficient for economic improvement.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 17: Finance Minister Dr. Prakash Sharan Mahat emphasized the importance of collective efforts to improve the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He stressed that relying solely on government initiatives would not be sufficient for economic improvement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During an inauguration of the Female Economic Journalists Association (FEJA) in Kathmandu, Minister Mahat expressed need for support from all sectors to boost the economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Mahat said the gradual signs of economic improvement in the country but stressed that the efforts of the government and the Finance Ministry alone were inadequate. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He called for a joint commitment from all stakeholders to work towards economic enhancement, assuring that the Finance Ministry was prepared to address any obstacles hindering progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Minister Mahat emphasized the importance of empowering women for the socio-economic development of the nation, highlighting the increased participation of women in various sectors, such as health and education, following the adoption of the concept of inclusive development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, Sharmila Thakuri, Chair of FEJA, stated that FEJA's establishment is aimed at playing a coordinating role in the skill and capacity development of women journalists working in economic beat. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-17', 'modified' => '2023-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '19002', 'image' => '20231017055331_collage (13).jpg', 'article_date' => '2023-10-17 05:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19273', 'article_category_id' => '1', 'title' => 'NEPSE’s Downfall Continues', 'sub_title' => '', 'summary' => 'The Nepal Stock(NEPSE) Index lost 23.16 points or 1.23%, closing at 1851.43 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 16: The Nepal Stock(NEPSE) Index lost 23.16 points or 1.23%, closing at 1851.43 points on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investors and stock analysts have attributed today's market loss to the impending Dashain festival. According to one investor, NEPSE experienced selling pressure as the Dashain festival draws near.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, 284 different stocks were traded in 69,832 transactions in the NEPSE. A total of 4,837,893 units of shares exchanged their hands, amounting to Rs 1.25 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prabhu Bank Limited Promoter Share (PRVUPO) had the highest turnover, reaching Rs. 6.24 crores, and closed at a market price of Rs. 108.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Siddhartha Premier Insurance Limited (SPIL) recorded the highest gain of 7.87% today. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Sayapatri Hydropower Limited (SPHL) and Hathway Investment Nepal Limited (HATHY) witnessed the highest loss of 10%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices closed in the red territory. "Life Insurance Index" lost the highest 2.09% while "Manufacturing And Processing" lost the least of 0.57% for today.</span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '19001', 'image' => '20231016051813_collage (24).jpg', 'article_date' => '2023-10-16 17:16:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '19272', 'article_category_id' => '1', 'title' => 'NRB Neglects Maintaining Interest Rate Corridor', 'sub_title' => '', 'summary' => 'October 16: Nepal Rastra Bank has neglected the implementation of the interest rate corridor, which was started with the aim of maintaining interest rate stability by minimizing short-term interest rate fluctuations.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 16: Nepal Rastra Bank has neglected the implementation of the interest rate corridor, which was started with the aim of maintaining interest rate stability by minimizing short-term interest rate fluctuations.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The main objective of the interest corridor is to keep the interbank interest rate within a certain limit. However, even though the interbank interest rate has fallen below the limit since the last one month, NRB has not used monetary instruments to maintain the interest rate.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has set the target of keeping the average interbank interest rate higher than the bank rate and lower than the deposit collection rate in the monetary policy of the current financial year (FY). There is a provision in the policy to use various monetary tools to keep the interbank interest rate in the middle while keeping the upper limit of the interest rate corridor at 7.5 percent and the lower limit at 4.5 percent.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, even though the interbank interest rate has fallen below the monetary policy target since September 13, NRB has not used monetary instruments to draw liquidity from the market to increase the interest rate. In the monetary policy, it is mentioned that if the interest rate is higher or lower than the target, secondary market transactions and deposit collection will be opened.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">On September 13, the interbank interest rate fell to 4.14 percent. Since then, the interbank interest rate, which has been below the limit, remained at 1.90 percent even on Wednesday, October 11. Meanwhile, on October 6, the interbank interest rate had dropped to 1.79 percent.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data of NRB, the average credit to deposit ratio (CD ratio) of banks on October 10 was 81.86 percent. As the banks are allowed to give loans by maintaining CD radio up to 90%, they still have the capacity to extend loans of around Rs 475 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, banks have been saying that there is no demand for loans due to high interest rates and weak economy. Due to high liquidity in banks due to lack of demand for loans, the interbank interest rate has fallen below the lower limit of the corridor.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to the fall in interest rates, the government also emphasized on raising domestic debt. The government changed the schedule to collect loans when interest rates fell. Anil Sharma, Chief Executive Officer of Nepal Bankers' Association says that the interbank interest rate decreased after the government allowed the amount of local level accumulated funds to be counted as deposits, and at the same time, the government also raised internal loans.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB Deputy Spokesperson Dr. Dilliram Pokharel says that the current interest rate is of a short-term nature and that monetary instruments were not used because the government insisted on raising internal debt.</span></span></span></p> <p> </p> <p> </p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '19000', 'image' => '20231016034603_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-10-16 15:45:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19271', 'article_category_id' => '1', 'title' => 'NEA Gets 'Double A Plus' Credit Rating ', 'sub_title' => '', 'summary' => 'October 16: The Nepal Electricity Authority (NEA) has once again received the 'Double A Plus' credit rating.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: The Nepal Electricity Authority (NEA) has once again received the 'Double A Plus' credit rating. ICRA Nepal Ltd, a credit rating agency in Nepal, has granted the 'ICRA NP Double A Plus' to the NEA, the state-owned entity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recipients of this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. They carry very low credit risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The financial status of NEA, assets, business and financial risks, managerial capacity, internal and external environmental factors affecting operational effectiveness were assessed by the ICRA Nepal before assigning an issuer rating of Double A Plus to the organisation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Credit ratings serve as a tool for assessing the creditworthiness of both individuals and organizations and for expressing opinion. They provide opinions on an entity's ability to meet its debt obligations, presenting a clear and simple indicator about related financial risks. According to ICRA Nepal, the rating is only an opinion on the general creditworthiness of the rated entity and is not specific to any debt instrument. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA Managing Director Kulman Ghising said the NEA has bagged the 'Double A Plus' credit rating from among the public entities, presenting its high-level of capacity to bear financial obligations. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18999', 'image' => '20231016030910_20230913111412_NEA_20191104081559.jpg', 'article_date' => '2023-10-16 15:08:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19270', 'article_category_id' => '1', 'title' => 'Govt Preparing to Set Up an Industrial Zone in Simara SEZ', 'sub_title' => '', 'summary' => 'October 16: A new industrial zone is going to be built on the land of the Special Economic Zone (SEZ) in Bara's Simara.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 16: A new industrial zone is going to be built on the land of the Special Economic Zone (SEZ) in Bara's Simara. The Ministry of Industry, Commerce and Supply is preparing to set up a new industrial zone in the SEZ.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Minister for Industry, Commerce and Supplies Ramesh Rijal said in an interaction with the entrepreneurs that an industrial zone will be built on 400 bighas of land in the D and E blocks of Simara SEZ.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Senior Vice President of Birgunj Chamber of Commerce and Industries, Hari Gautam, informed NBA that Minister Rijal revealed the plan during a visit to Simara to discuss about the industrial sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“A proposal for the new industrial zone will be submitted to the Council of Ministers after Dashain. Once the proposal is passed by the Council of Ministers, the construction of the industrial zone will proceed," said Gautam, quoting Minister Rijal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">SEZ has prepared structures in three of out of five blocks. Gautam said that getting land for new industries is becoming difficult in the Bara-Parsa Industrial Corridor, and that the entrepreneurs are excited about the preparation of a new industrial zone. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Ministry of Industry, Commerce and Supplies had commissioned the Industrial Area Management Limited to conduct a feasibility study for the establishment of an industrial zone. The ministry said that the body has submitted a report with the conclusion that Simara is the most suitable place for establishing an industrial zone. It is mentioned in the report that the location is best for the industrial sector due to its infrastructure, and proximity to the seaport, and access to expressway.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Industrial Area Management Limited and the SEZ Authority Board of Directors have approved the proposal for the construction of the industrial zone. As entrepreneurs are not attracted to SEZs, there is a demand to make SEZs an industrial zone. Although the industries have been invited to SEZ's A, B and C blocks, the entrepreneurs are not excited.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rijal also said that preparations are being made to reduce the mandatory export limit from 60 per cent to 30 per cent for the industries operating in SEZ. The minister informed that the rent of SEZ will also be reduced from Rs 20 to Rs 10 per square meter. This measure has been adopted to attract industries to SEZ. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18998', 'image' => '20231016021527_1697423282.2023-10-16 08.13.02.jpg', 'article_date' => '2023-10-16 14:14:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19269', 'article_category_id' => '1', 'title' => 'Government Fails to Import Sugar Before Dashain', 'sub_title' => '', 'summary' => 'October 16: The government has failed in its efforts to supply duty-free sugar to the consumers before Dashain. ', '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:"Nirmala UI","sans-serif"">October 16: The government has failed in its efforts to supply duty-free sugar to the consumers before Dashain. The government was unable to import sugar before Dashain as India did not show any interest to supply sugar to Nepal through the G2G process. Another reason for the failure was the delay in granting permission to import sugar to the Salt Trading Corporation (STC) and the Food Management and Trading Company (FMTC), which are responsible for the import and distribution of duty exempted sugar in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Ministry of Industry, Commerce and Supplies had sent a letter to the Ministry of Finance in July seeking permission to proceed with the process to import 60,000 metric tons of sugar with customs exemption, especially for the festive season. However, the Ministry of Finance did not respond to the letter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The STC and FMTC could not import sugar before Dashain due to the delay in getting approval for import. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In mid-September, the Finance Ministry granted permission to the Salt Trading Corporation and Food Management and Trading Company to import 20,000 tons of sugar at 50 percent customs exepmtion. Although Salt Trading Corporation and Food Management and Trading Company were assigned the responsibility to import 10,000 tons of sugar each, both these companies have admitted that they will not be able to import sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kumar Rajbhandari, spokesperson of the Salt Trading Corporation, said that it is certain that subsidized sugar cannot be brought before Dashain. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He blamed the Finance Ministry for giving approval to purchase sugar when it was already too late.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that a 15-day notice was issued to import sugar on a fast-track basis and a company was also selected but it was not possible to bring sugar because India did not supply sugar. According to Rajbhandari, it would be too expensive to bring sugar from other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">At present, India has not exported sugar to other countries, due to which the price of sugar has become expensive in the international market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“When we bring it from other countries, we have to sell it here at a high price. That is why we have reached the decision not to bring sugar for now," 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:"Nirmala UI","sans-serif"">The FMTC had issued a 45-day notice which will expire after mid-November. By that time, the festival of Dashain will already have finished. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">With the start of the festive season, the government took the initiative to bring 50,000 metric tons of sugar from India through the G2G (Government to Government) process, but it was not successful. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, India banned sugar exports a few months ago after the price of sugar started increasing in its domestic market. India is one of the top sugar exporting countries in the world.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Minister for Industry, Commerce and Supplies Ramesh Rijal, Nepal had written to India in mid-July asking for 100,000 tons of rice, 50,000 tons of sugar and 5,000 tons of paddy. India has not yet sent a reply. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We requested food grains from India to prevent shortage in our market. However, India has not given any response,” said the minister, adding, “A few weeks ago, we again took a diplomatic initiative with the Indian government. The Indian side agreed to supply sugar but it is not certain when.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18997', 'image' => '20231016012240_sugar.jpg', 'article_date' => '2023-10-16 13:21:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19268', 'article_category_id' => '1', 'title' => 'Tremor Felt in Sudurpaschim Province ', 'sub_title' => '', 'summary' => 'October 16: An earthquake was felt in the hill districts of Sudurpaschim province, including in Baitadi, this morning. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: An earthquake was felt in the hill districts of Sudurpaschim province, including in Baitadi, this morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Earthquake Measurement Centre Surkhet, Bal Bahadur Tamang, said that an earthquake measuring 4.8 on the Richter scale with epicentre at Batan, India, adjoining Darchula district occurred at 9.26 am on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The District Police Office Baitadi said they have not received any information about the damage so far.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Of late, earthquakes have been occurring frequently in far-western Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18996', 'image' => '20231016124037_earth.jpg', 'article_date' => '2023-10-16 12:39:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19267', 'article_category_id' => '1', 'title' => 'Tilicho Lake now has Access to Internet ', 'sub_title' => '', 'summary' => 'October 16: Tilicho Lake, which lies at an altitude of 4919 metres above the sea level, has now access to internet connectivity. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: Tilicho Lake, which lies at an altitude of 4919 metres above the sea level, has now access to internet connectivity. The internet service was lunched for the convenience of tourists visiting the lake in the mountainous district Manang. It is expected to be highly effective for communications in case of altitude sickness and other emergency situations, said Cholpa Gurung, ward chair of Manang’s Dinsang Rural Municipality-9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> "The availability of the internet facility is expected to reduce incidents of visitors going missing or falling ill. Visitors can now contact their families and relatives in case of emergency," he said. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The hotel and tourism entrepreneurs installed the internet service in the area to facilitate the tourists visiting Tilicho Lake, said Karma Dendu Gurung, a hotel entrepreneur.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arrival of tourists is increasing in Manang. Both domestic and foreign tourists visit this place to view the sceneries of the mountains and hills as well as to experience the culture and lifestyle of the local people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Over 200 foreign tourists visit the district on a daily basis, said Bhupendra Gurung, chief of the tourist check and information centre of the Annapurna Conservation Area Project (ACAP) in Dharapani. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The inflow of tourists may increase during Dashain and Tihar. The lake falls on the Annapurna Circuit which is linked with five districts, Lamjung, Manang, Mustang, Myagdi and Kaski. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In eight months of 2023, over 14,200 tourists have visited this route. Most of the trekkers were from Israel, France and Germany, said the centre. However, according to the centre, it does not have exact data of domestic tourists hiking the route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The increasing inflow of tourists, both domestic and foreign of late, has encouraged tourism entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the health of visiting tourists, ACAP has set up a temporary health post in the area in coordination with the rural municipality. The ACAP provides information to the tourists visiting Tilicho Lake and Thorangla Pass about possible health hazards and risks that may take place in course of the journey. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18995', 'image' => '20231016105041_Tilicho.jpg', 'article_date' => '2023-10-16 10:50:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19266', 'article_category_id' => '1', 'title' => 'NOC Slashes Fuel Prices', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Sunday midnight.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 16: The Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from Sunday midnight. In a press statement issued by the NOC on Sunday, the NOC slashed fuel prices significantly. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The price of petrol will now be Rs 11 per litre cheaper, while both diesel and kerosene will see a reduction of Rs 5 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the price adjustment, the petrol will cost Rs 169 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj. Meanwhile, diesel will be priced at Rs 165 per litre at these places. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, the petrol will be priced at Rs 171 per litre petrol in Dang and Surkhet, and Rs 172 per litre in Kathmandu, Pokhara, and Dipayal. The NOC said that it adjusted the price reductions in line with the new pricing structure received from the Indian Oil Corporation (IOC).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-16', 'modified' => '2023-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '18994', 'image' => '20231016054222_collage (12).jpg', 'article_date' => '2023-10-16 05:40:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '19265', 'article_category_id' => '1', 'title' => 'Reliable Nepal Life Insurance Limited Provides Motivational Training to Its Agents', 'sub_title' => '', 'summary' => 'Reliable Nepal Life Insurance Limited organized a programme to felicitate its agents on the occasion of Dashain and Tihar festivals in Manthali.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">October 15: Reliable Nepal Life Insurance Limited organized a programme to felicitate its agents on the occasion of Dashain and Tihar festivals in Manthali. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The insurance’s Manthali branch under Bagmati Province office Banepa provided a motivational session, imparted a training and hounured agency managers and agents working in the insurance’s Manthali branch. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The program had the presence of 38 agents from Reliable Nepal Life. The event in Manthali branch was graced by the Branch Chief, Santosh Shrestha, and the Bagmati Province Chief, Surendra Thapa. During the event, the agents were provided with motivational training.</span></span></span></p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18993', 'image' => '20231015051103_collage (11).jpg', 'article_date' => '2023-10-15 17:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19264', 'article_category_id' => '1', 'title' => 'NAC Plans to Purchase up to 10 Aircraft in Current Fiscal Year ', 'sub_title' => '', 'summary' => 'October 15: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said that the state-owned Nepal Airlines Corporation (NAC) will procure ten new aircraft within the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 15: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said that the state-owned Nepal Airlines Corporation (NAC) will procure ten new aircraft within the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that the government decided to add more aircraft for the NAC to end the anomalies in the airfares. He made the revelation during a meeting with a group of students at his official residence in Pulchowk on Sunday.</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"">"There is no other alternative to intervene in the airfares without enhancing the capacity of NAC,” said Minister Kirati, adding the procurement process will begin shortly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NAC is preparing to purchase three twin-otters for domestic flights. The NAC currently has two twin-otters to conduct flights to remote areas.</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 Minister Kirati, the NAC has been operating flights from Nepaligunj airport to rural areas throughout Dashain. He pledged to sit for talks with authorities concerned to prevent the potential allocation of air tickets in the black market during festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The students' delegation led by Nepal Students Union President Dujang Sherpa handed a memorandum to the minister, demanding the containment of possible distributions of air tickets oin the black market during festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NSU urged the NAC to operate flights targeting mountainous region and remote areas for the convenience of travelers during the festive season. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18992', 'image' => '20231015043431_20230428123538_nac twin.jpg', 'article_date' => '2023-10-15 16:33:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19263', 'article_category_id' => '1', 'title' => 'Dashain Business Dismal Despite Bustling Crowd', 'sub_title' => '', 'summary' => 'October 15: Usually, the market bustles with life with the onset of Dashain and Tihar as people flock to the market places for shopping. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">October 15: Usually, the market bustles with life with the onset of Dashain and Tihar as people flock to the market places for shopping. However, the business is disappointing this year due to the recession in the economy, which has reduced the purchasing power of the general public.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">With the onset of Dashain, the main business centers of Kathmandu including New Road, Khichhapokhari, Asan, Indrachok, Sundhara, Bhotahiti, Koteshwar, Baneshwar and other places are crowded with consumers. Traders in those areas, however, complain that there is no encouraging business despite the crowd.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">There is a trend among consumers to go to New Road or Asan to buy even small items. As a result, more congestion can be seen in these areas than normal times. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“However, not all of those consumers come to shop for Dashain,” says Bimal Prajapati, a businessman, adding, “There are more consumers who are looking for cheap goods because the price of every product has increased in the market. That's why there is a lot of crowd in the shops that have sale going on.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Economic recession and high interest rates of banks have slowed down the pace of trade and business. Businessmen who have been importing goods from different countries since June and July, targeting the festival, say that this year they have imported goods sparsely due to low demand in the market. Traders say that they do not feel like Dashain this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">At present, the price of every commodity including food, petroleum products has increased in the market. However, the consumer's income is limited. Due to this, consumers have changed their shopping habits affecting the market. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Naresh Katuwal, president of the Nepal National Traders’ Federation said that there is never 100 percent business in the market. In normal conditions, the business is 75 to 80 percent, but this year it has shrunk to 30 to 40 percent. According to him, goods are going from wholesale to retail market for the festive season. However, complaints of lack of retail trade are increasing. Previously, it was customary for those leaving Kathmandu to buy goods from here when returning home. He speculated that the business may have decreased during the festival probably because goods are now available in the villages.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18991', 'image' => '20231015114416_20211006084739_Clipboard49.jpg', 'article_date' => '2023-10-15 11:43:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19260', 'article_category_id' => '1', 'title' => 'Ghatasthapana Today Marks the Beginning of Dashain Festival', 'sub_title' => '', 'summary' => 'October 15: The Navaratri Parba or the nine-night festival of Bada Dashain, the great festival of the Hindus of Nepal, has commenced from today (October 15). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 15: The Navaratri Parba or the nine-night festival of Bada Dashain, the biggest festival of Nepal, has commenced from today (October 15). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The first day of the Dashain festival is called "Ghatasthapana" that falls on the first day of the bright half of the lunar calendar in the Nepali month of Ashwin (mid-September to mid-October). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the day of Ghatasthapana, different communities of Nepal, especially the Hindus, worship Diyo (an oil-fed lamp), Kalas (auspicious jar) and lord Ganesh in accordance with the Vedic rituals and sow barley seeds in a jar filled with soil and cow dung for germination of the auspicious Jamara (barley shoots). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees offer prayers to Durga Bhavani, the goddess of power, today. Germination of the auspicious "Jamara" is also done at the Hanumandhoka Palace in accordance with the Vedic rituals on this special day. There is also a tradition of sacrificing animals while initiating the germination of the "Jamara". </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Also today, prayers are offered to goddess Mahakali, Mahalaxmi and Mahasaraswati at the Dashain Ghar of Hanumandhoka Palace, marking the beginning of the Navaratri (nine nights). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The barley shoots and the auspicious Tika are given by parents to their children and by elders to their juniors on the tenth day of the Bada Dashain festival with blessings for peace, prosperity and happiness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The auspicious hour for receiving Tika this year is 11:02 am, according to the Nepal Calendar Determination Committee. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the Navaratri, thousands of devotees visit temples such as Naxal Bhagawati, Shobha Bhagawati, Maitidevi, Guheswori, Bhadrakali, Kalikasthan, Sankata, Mahankalsthan, Naradevi, Bijayeswori, Indrayani, Dakshinkali, Chamunda and other shrines of Goddess Durga Bhavani. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People also recite sacred verses and hymns dedicated to Durga Bhawani at temples and shrines as well as at their homes throughout the Dashain period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-15', 'modified' => '2023-10-15', 'keywords' => '', 'description' => '', 'sortorder' => '18990', 'image' => '20231015111340_20220918023227_maxresdefault.jpg', 'article_date' => '2023-10-15 11:13:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
