October 11: China announced Tuesday its Belt and Road Initiative infrastructure project had generated two trillion dollars in contracts around the world, equivalent in size to some of the world's biggest…
October 11: China announced Tuesday its Belt and Road Initiative infrastructure project had generated two trillion dollars in contracts around the world, equivalent in size to some of the world's biggest…
October 11: All 55 Nepali students working in an agriculture farm along the Israel-Gaza border have been relocated to secure…
The construction of the Kaligandaki Corridor transmission line has reached its completion. This 220-kV double-circuit transmission line is expected to play a crucial role in enhancing the national electricity grid…
October 10: The International Monetary Fund (IMF) kept its 2023 global growth forecast unchanged on Tuesday but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were…
The Nepal Stock Exchange(NEPSE) Index lost 19.06 points or 0.99% and closed at 1889.59 points on the third trading day of the week,…
October 10: The annual Nobel Prize announcements are over with the final award, for economics, going to Harvard professor Claudia Goldin for advancing the understanding of women’s labor market…
October 10: A section of the 18.6 km cargo broad gauge railway track from Bathnaha in India to Kathari Rural Municipality via Biratnagar has been completed.…
October 10: The Inland Revenue Office, Biratnagar, held a discussion with the transport entrepreneurs in order to clear the confusion caused by the Finance Act 2080, which mandates cargo operators with annual transactions more than Rs 5 million to be registered under Value Added Tax…
October 10: Although the government has adopted a policy to encourage the use of income from remittances in productive sector, it has been found that more than half of the amount is spent on daily…
October 10: Parliamentarians in during Monday’s meeting of the House of Representatives (HoR) demanded for prompt rescue of the Nepalis trapped in…
October 10: World record-holder climber and mountain guide Tenzen Sherpa (Lama) has gone missing in an avalanche Mt Shishapangma (8,027 meters) of Tibet,…
October 10: The Israeli military has said that it had regained control of all Israeli towns near the Gaza border, in the third day of battles to repel Hamas militants from southern…
Harvard economic historian Claudia Goldin won the 2023 Nobel economics prize for her work exposing the causes of deeply rooted wage and labour market inequality between men and women, the Royal Swedish Academy of Sciences said on…
October 9: The real estate entrepreneurs have said that the country's economy is in crisis due to the wrong policy taken by the government in the field of real estate and…
The Nepal Stock Exchange(NEPSE) Index lost 12.58 points or 0.65% and closed at 1908.66 points on the second trading day of the week, Monday. The Index lost 35.67 points…
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 11: China announced Tuesday its Belt and Road Initiative infrastructure project had generated two trillion dollars in contracts around the world, equivalent in size to some of the world's biggest economies. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">A white paper from China's State Council also said countries participating in the initiative owe more than $300 billion to the Export-Import Bank of China (Eximbank), a figure one expert said was likely understated but which lays bare the huge debts incurred in the global infrastructure initiative. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China is hailing this month the 10th anniversary of its Belt and Road Initiative (BRI), which has seen Beijing pour a trillion dollars into projects around the world in a defining geopolitical project for President Xi Jinping. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But critics have long accused China of luring lower-income countries into debt traps by offering huge, unaffordable loans. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing said Tuesday the value of signed construction contracts with partners now totalled two trillion dollars -- roughly the size of the economy of Russia or Canada. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And "the actual turnover of Chinese contractors reached $1.3 trillion", it said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It also said the balance of loans for BRI projects from Eximbank -- a key BRI creditor -- now totalled 2.2 trillion yuan ($307.4 billion). </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">That total covers "130-plus participating countries and driving more than $400 billion of investment and more than $2 trillion of trade", the white paper said, suggesting an average of $2.4 billion in debts per country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The paper did not detail which countries owe the most, nor the kind of interest rates they are expected to pay. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">One expert told AFP the figure, while large, was likely "vastly underestimated". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"There have been other academic research papers that have written on these hidden debts that could add up to $800 billion," Niva Yau, a non-resident fellow with the Atlantic Council's Global China Hub, said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We simply don't have information about these projects and how these figures have added up," she said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">'Real gains' </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Exim Bank has financed major transport and energy projects across the BRI and has been linked to foreign loan plans everywhere from Africa to Central Asia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing's Silk Road Fund -- established to help fund BRI projects -- in turn has "signed agreements on 75 projects with committed investment of about $22 billion", the white paper said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China's State Council hailed the BRI on Tuesday as having "delivered real gains to participating countries". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">However, many of its partners are increasingly wary about the cost involved. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Italy, the only one of the group of leading developed democracies to sign up to the investment scheme, said last month it was considering opting out of the deal. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing is due to host the third Belt and Road Forum for International Cooperation this month, with Russian President Vladimir Putin set to attend in his first visit to China since his invasion of Ukraine. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China is yet to confirm when the forum will take place. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We welcome countries and partners actively participating in the Belt and Road Initiative to come to Beijing to discuss cooperation plans and seek common development," foreign ministry spokesperson Mao Ning said last month. – AFP/RSS </span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18957', 'image' => '20231011113404_20201117123742_88500034 2.jpg', 'article_date' => '2023-10-11 11:33:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19228', 'article_category_id' => '1', 'title' => 'Nepali Students relocated to Secure Places from Gaza Strip', 'sub_title' => '', 'summary' => 'October 11: All 55 Nepali students working in an agriculture farm along the Israel-Gaza border have been relocated to secure places. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 11: All 55 Nepali students working in an agriculture farm along the Israel-Gaza border have been relocated to secure places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Nepali Embassy in Tel Aviv, 72 Nepali nationals who were awaiting rescue from the northern border of Israel have also been shifted to safer areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy also shared that four Nepalis who sustained injuries in Saturday’s attack are witnessing gradual improvement in their health while the search for a missing Nepali is currently underway with the help of all available local and diplomatic mechanisms, including police and hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Authorities said that over 350 Nepalis eager to return home have so far registered their names at the Nepali Embassy. The process for their safe return has already been initiated, according to the embassy officials. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18956', 'image' => '20231011110012_AP23282506358002 (1).jpg', 'article_date' => '2023-10-11 10:59:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19227', 'article_category_id' => '1', 'title' => 'Kaligandaki Transmission Corridor Project Completed', 'sub_title' => '', 'summary' => 'The construction of the Kaligandaki Corridor transmission line has reached its completion. This 220-kV double-circuit transmission line is expected to play a crucial role in enhancing the national electricity grid system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 11: The construction of the Kaligandaki Corridor transmission line has reached its completion. This 220-kV double-circuit transmission line is expected to play a crucial role in enhancing the national electricity grid system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The transmission line starts at the Dana substation in Annapurna rural municipality-3, Myagdi, and spans an impressive 88 kilometers to reach the New Butwal Substation in Sunwal, Nawalparasi. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In 2017, the contract for the construction of this 88-kilometer transmission line, known as the Kushma-New Butwal Transmission Line, was signed with the Indian company L&T. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The project's estimated cost stands at approximately Rs 11 billion, and it was jointly implemented by the government and the Nepal Electricity Authority, with support from the South Asia Subregional Economic Cooperation (SASEC) under the Asian Development Bank. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kulman Ghising, the managing director of the Nepal Electricity Authority (NEA), expressed hope that the operation of this transmission line will significantly enhance the reliability of the integrated electricity supply system and address voltage-related issues in the Nawalparasi and Rupandehi areas. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18955', 'image' => '20231011053126_collage (5).jpg', 'article_date' => '2023-10-11 05:29:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19226', 'article_category_id' => '1', 'title' => 'IMF says World Economy Resilient to Shocks but still 'Limping'', 'sub_title' => '', 'summary' => 'October 10: The International Monetary Fund (IMF) kept its 2023 global growth forecast unchanged on Tuesday but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">October 10: The International Monetary Fund (IMF) kept its 2023 global growth forecast unchanged on Tuesday but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, the IMF's updated World Economic Outlook still sees growth of 3.0 percent for this year but it cut its forecast for 2024 to 2.9 percent, down 0.1 percentage points from its July report.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">"The economy continues to recover from the pandemic and Russia's invasion of Ukraine, showing remarkable resilience," AFP quoted IMF's chief economist Pierre-Olivier Gourinchas as saying.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">"Yet growth remains slow and uneven. The global economy is limping along, not sprinting," he said at a news conference during the institution's annual meetings in Marrakesh, Morocco.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">Inflation, which has fallen sharply since last year, is predicted to remain elevated at 6.9 percent this year, up slightly from July, and 5.8 percent in 2024, up 0.6 percentage points, added AFP.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">According to the French news agency, central banks across the world have raised interest rates sharply in efforts to contain inflation.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">The move could have knock-on effects on growth, but the IMF warned central banks against easing the monetary tightening too soon, adding that it still expects the global economy to have a "soft landing" -- a slowdown that avoids recession.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => 'IMF, world, economy, shock, Covid, Russia, Ukraine, inflation, bank', 'description' => '', 'sortorder' => '18954', 'image' => '20231010064830_20231006125525_20220426051733_imf.jpg', 'article_date' => '2023-10-10 18:47:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19225', 'article_category_id' => '1', 'title' => 'NEPSE’s Fall Has No Rest in Sight', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 19.06 points or 0.99% and closed at 1889.59 points on the third trading day of the week, Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 10: The Nepal Stock Exchange(NEPSE) Index lost 19.06 points or 0.99% and closed at 1889.59 points on the third trading day of the week, Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investors and stock analysts attribute to the persistent decline in the market to the festive season. Furthermore, they argue that the policies implemented by Nepal Rastra Bank against the stock market have contributed to the bearish cycle seen in the NEPSE Index.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, a total of 282 scrips were traded through 44,069 transactions. Similarly, as many as 4,287,424 units of shares exchanged their hands, amounting to Rs 1.28 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sanima GIC Insurance had the highest turnover of Rs 20 crores, closing at a market price of Rs 499 per unit of share. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Upper Lohore Khola Hydropower Company Limited ( ULHC) </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">posted the highest gain of 5.86%, followed by Infinity Laghubitta Bittiya Sanstha(ILBS) with a gain of 4.19%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Barahi Hydropower Public Limited (BHPL) recorded the highest loss, with a drop of 7.64%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the red territory. Hydropower Index lost the highest 1.79% and Manufacturing and Processing lost the lowest 0.12% in today’s trading. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a loss of 0.94%, while Float Index and Sensitive Float Index dropped by 1.04 % and 1.03% respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18953', 'image' => '20231010041258_collage (18).jpg', 'article_date' => '2023-10-10 16:11:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '19224', 'article_category_id' => '1', 'title' => 'Things to Know about the Nobel Prizes ', 'sub_title' => '', 'summary' => 'October 10: The annual Nobel Prize announcements are over with the final award, for economics, going to Harvard professor Claudia Goldin for advancing the understanding of women’s labor market outcomes. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: The annual Nobel Prize announcements are over with the final award, for economics, going to Harvard professor Claudia Goldin for advancing the understanding of women’s labor market outcomes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The 2023 prize announcements started on October 2 with the Nobel Prize in medicine being awarded to two scientists whose discoveries enabled the development of mRNA vaccines against COVID-19. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The following day, three scientists won the physics prize for their work on how electrons zip around the atom in the tiniest fractions of seconds. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Three U.S.-based researchers shared the chemistry prize on Oct. 4 for their study of quantum dots — tiny particles that can release very bright colored light and are used in electronics and medical imaging. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On October 5, the Swedish Academy awarded Norwegian writer Jon Fosse the literature award for works that “give voice to the unsayable." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Imprisoned activist Narges Mohammadi won the Nobel Peace Prize the next day for her campaign against the oppression of women and for human rights in Iran. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The awards will be handed out on December 10. Here are some things to know about the Nobel Prizes: </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">AN IDEA MORE POWERFUL THAN DYNAMITE </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nobel Prizes were created by Alfred Nobel, a 19th-century businessman and chemist from Sweden. He held more than 300 patents but his claim to fame before the Nobel Prizes was having invented dynamite by mixing nitroglycerine with a compound that made the explosive more stable. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dynamite soon became popular in construction and mining as well as in the weapons industry. It made Nobel a very rich man. Perhaps it also made him think about his legacy, because toward the end of his life he decided to use his vast fortune to fund annual prizes “to those who, during the preceding year, have conferred the greatest benefit to humankind.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first Nobel Prizes were presented in 1901, five years after his death. In 1968, a sixth prize was created, for economics, by Sweden’s central bank. Though Nobel purists stress that the economics prize is technically not a Nobel Prize, it’s always presented together with the others. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">PEACE IN NORWAY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">For reasons that are not entirely clear, Nobel decided that the peace prize should be awarded in Norway and the other prizes in Sweden. Nobel historians suspect Sweden’s history of militarism may have been a factor. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During Nobel’s lifetime, Sweden and Norway were in a union, which the Norwegians reluctantly joined after the Swedes invaded their country in 1814. It’s possible that Nobel thought Norway would be a more suitable location for a prize meant to encourage “fellowship among nations.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">To this day, the Nobel Peace Prize is a completely Norwegian affair, with the winners selected and announced by a Norwegian committee. The peace prize even has its own ceremony in the Norwegian capital of Oslo on Dec. 10 — the anniversary of Nobel’s death while the other prizes are presented in Stockholm. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">WHAT’S POLITICS GOT TO DO WITH IT? </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nobel Prizes project an aura of being above the political fray, focused solely on the benefit of humanity. But the peace and literature awards, in particular, are sometimes accused of being politicized. Critics question whether winners are selected because their work is truly outstanding or because it aligns with the political preferences of the judges. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The scrutiny can get intense for high-profile awards, such as in 2009, when President Barack Obama won the peace prize less than a year after taking office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Norwegian Nobel Committee is an independent body that insists its only mission is to carry out the will of Alfred Nobel. However, it does have links to Norway's political system. The five members are appointed by the Norwegian Parliament, so the panel's composition reflects the power balance in the legislature. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">To avoid the perception that the prizes are influenced by Norway’s political leaders, sitting members of the Norwegian government or Parliament are barred from serving on the committee. Even so, the panel isn't always viewed as independent by foreign countries. When imprisoned Chinese dissident Liu Xiaobo won the peace prize in 2010, Beijing responded by freezing trade talks with Norway. It took years for Norway-China relations to be restored. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">GOLD AND GLORY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">One reason the prizes are so famous is they come with a generous amount of cash. The Nobel Foundation, which administers the awards, raised the prize money by 10% this year to 11 million kronor (about $1 million). In addition to the money, the winners receive an 18-carat gold medal and diploma when they collect their Nobel Prizes at the award ceremonies in December. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Most winners are proud and humbled by joining the pantheon of Nobel laureates, from Albert Einstein to Mother Teresa. But two winners refused their Nobel Prizes: French writer Jean-Paul Sartre, who turned down the literature prize in 1964, and Vietnamese politician Le Duc Tho, who declined the peace prize that he was meant to share with U.S. diplomat Henry Kissinger in 1973. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Several others were not able to receive their awards because they were imprisoned, such as Belarusian pro-democracy activist Ales Bialiatski, who shared last year’s peace prize with human rights groups in Ukraine and Russia. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">LACK OF DIVERSITY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Historically, the vast majority of Nobel Prize winners have been white men. Though that’s started to change, there is still little diversity among Nobel winners, particularly in the science categories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With Monday's announcement, 64 women have won Nobel Prizes, including 28 in the scientific categories. Only five women have won the physics award, and just three have won the economics prize. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Four women were among the 11 Nobel Prize winners this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the early days of the Nobel Prizes, the lack of diversity among winners could be explained by the lack of diversity among scientists in general. But today critics say the judges need to do a better job at highlighting discoveries made by women and scientists outside Europe and North America. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The prize committees say their decisions are based on scientific merit, not gender, nationality or race. However, they are not deaf to the criticism. Five years ago, the head of the Royal Swedish Academy of Sciences said it had started to ask nominating bodies to make sure they don’t overlook “women or people of other ethnicities or nationalities in their nominations.” – AP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18952', 'image' => '20231010023640_Untitled.jpg', 'article_date' => '2023-10-10 14:36:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19223', 'article_category_id' => '1', 'title' => 'Construction of Railway Track from Biratnagar to Kathari Doubtful', 'sub_title' => '', 'summary' => 'October 10: A section of the 18.6 km cargo broad gauge railway track from Bathnaha in India to Kathari Rural Municipality via Biratnagar has been completed. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 10: A section of the 18.6 km cargo broad gauge railway track from Bathnaha in India to Kathari Rural Municipality via Biratnagar has been completed. However, another section of the railway track remains incomplete due to the dispute over compensation. The construction company Ircon has returned back with its equipment after the locals obstructed its work.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the first section from Bathnaha to Biratnagar ICP measuring 8 km was completed and jointly inaugurated by Prime Ministers Narendra Modi and Pushpa Kamal Dahal on June 1. On the day of the inauguration, the cargo train carrying raw material of Aarati Strip came and returned. But even after 6 months of inauguration, not a single train has hit the tracks. Importing industrial raw materials by cargo train is expected to reduce the freight charge by at least 40 percent, but the cargo train is yet to operate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the second section, the work remains to be done in 10 kilometer stretch from Biratnagar customs to Ward No 1 of Kathari Rural Municipality. Although the infrastructure is ready for laying the track, the Indian company Ircon returned back with its equipment due to the compensation dispute.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ircon says that it cannot work according to the cost of the contract signed 12 years ago. According to Ircon, the equipment is taken back because the price of construction materials have increased and there are problems on the site. Deepak Kumar, manager of Ircon said that the land was not made available and the equipment was taken away as his company is also undertaking other contract works in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There was a bilateral agreement that the Nepalese side should acquire 119 bighas of land and let Ircon work for the construction of the railway track. The compensation determination committee at that time distributed compensation at the rate of Rs 200,000 per kattha of land. However, the owners of six-bigha land filed a case at the Supreme Court saying that they were not satisfied with the compensation provided by the government. The decision is still sub judice in the apex court.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Altogether 22 people including Bishwonath Majhi of Kathari 1 had filed a case in the Supreme Court saying that they were not satisfied with the compensation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the government did not provide land for the construction of the station yard, the work was halted, said Manoj Poddar, a sub-contractor. Ircon awarded the contract to SC Agarwal Company of Delhi for the construction of railway link. The said company has sub-contracted the work to Ready Construction of Biratnagar.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Manager of the Department of Railways Nirajan Kumar Jha said that the contract will be canceled if the construction work does not go ahead before Dashain. The contractor warned that the contract will be terminated if the land is not available before Dashain.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the 18.6 km long broad gauge railway from Bathnaha in India to Katahari in Nepal was started in 2011 at an estimated cost of about INR 4 billion by the Ircon Company. Construction should have been completed by 2017, but so far, only less than half of the work is done.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18951', 'image' => '20231010022833_1696902770.2023-10-10 07.37.20.jpg', 'article_date' => '2023-10-10 14:27:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19222', 'article_category_id' => '1', 'title' => 'Cargo Operators Must Comply with New VAT Law: Revenue Official', 'sub_title' => '', 'summary' => 'October 10: The Inland Revenue Office, Biratnagar, held a discussion with the transport entrepreneurs in order to clear the confusion caused by the Finance Act 2080, which mandates cargo operators with annual transactions more than Rs 5 million to be registered under Value Added Tax (VAT).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 10: The Inland Revenue Office, Biratnagar, held a discussion with the transport entrepreneurs in order to clear the confusion caused by the Finance Act 2080, which mandates cargo operators with annual transactions more than Rs 5 million to be registered under Value Added Tax (VAT).</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"">During the discussion, the businessmen complained that they were confused by the government’s decision to add and remove VAT on cargo from time to time.</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 government had implemented VAT on cargo in 2076. It was removed in 2078 and now has put it back. The transport entrepreneurs with transaction more than the amount specified by the Finance Act must register themselves under VAT keep clear details of transaction and also issue bills.</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"">Answering the questions raised during the discussion, Dr DB Chhetri, the chief tax officer of the office emphasized that everyone should follow the new policy introduced by the government. </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 event was attended by Meghraj Sigdel, deputy general secretary of the Truck Traders Federation, Shambhu Bhattarai, vice president of Biratnagar Transport Association Morang, General Secretary Khagendra Sigdel and other stakeholders.</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"">Dr Chhetri informed the businessmen about the change in the government's policy.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18950', 'image' => '20231010011212_20210107010829_1609973629.Clipboard16.jpg', 'article_date' => '2023-10-10 13:11:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19221', 'article_category_id' => '1', 'title' => 'More than Half of the Remittances are Spent on Consumable Goods', 'sub_title' => '', 'summary' => 'October 10: Although the government has adopted a policy to encourage the use of income from remittances in productive sector, it has been found that more than half of the amount is spent on daily consumption.', '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 10: Although the government has adopted a policy to encourage the use of income from remittances in productive sector, it has been found that more than half of the amount is spent on daily consumption.</span></span></span></span></p> <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"">A study titled 'Impact of Foreign Employment on the Economic and Social Sectors in Lumbini Province' conducted by Nepal Rastra Bank has shown that most of the money received from remittances is spent on daily consumer goods, education, health, entertainment and other unproductive areas. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank prepared the report based on a study and on-site survey of 383 families whose members have gone for foreign employment from five districts of Lumbini Province including Gulmi, Arghakhanchi, Palpa, Rupandehi and Rolpa.</span></span></span></span></p> <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 study revealed the fact that 58.78 percent of the money earned from foreign employment is spent on daily consumption, 22.48 percent on education and health, 10.07 percent on debt repayment and 8.67 percent on entertainment. </span></span></span></span></p> <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"">Due to the increase in the expenses of the families of people who have gone for foreign employment, the remittance income has been spent on consumption. </span></span></span></span></p> <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"">Among the surveyed families, the daily consumption expenditure of 96.61 percent has increased compared to the period before going to foreign employment. Likewise, 96.08 percent of the families’ expenditure on festivals, entertainment and social expenses have also increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The study found that the families who receive remittances invested in trade, business, housing and jewelry. Around 68.21 percent of families invested in business, 65.80 percent in housing and 63.19 percent in jewelry.</span></span></span></span></p> <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"">Altogether 88.25 percent of the families involved in foreign employment included in the study said that their savings have increased. Among those families, 13.05 percent said that the arable land has increased, 51.44 percent said that the arable land has remained the same and 35.51 percent said that the arable land has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although most of the people use non-banking channels to manage the money required for foreign employment, financial access has increased due to remittance income. Only 15.10 percent of the workers going for foreign employment said that they managed the expenses incurred while going to work abroad from banks and financial institutions. The study showed that 84.90 percent manage their expenses by taking personal loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that 86 percent of families employed abroad use electronic means and checks for financial transactions and 14 percent use cash. After going to foreign employment, the savings account of the family members increased by 39.58 percent and the loan account increased by 130.65 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Similarly, the study report mentions that the number of families without any bank account before going abroad was 37.08 percent, which dropped to 0.52 percent after going abroad.</span></span></span></span></p> <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"">It has been found that most of the people who go for foreign employment have poor formal education and do not take skill-related training. The study found that 40.73 percent of people who go for foreign employment have completed basic education, 13.32 percent have completed secondary-level education and 2.87 percent have studied up to master's degree or above. </span></span></span></span></p> <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"">Among those engaged in foreign employment, 76 percent do not take skill-related training and 24 percent take such training.</span></span></span></span></p> <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"">Access to education, health and communication, the social status of the family, and harmony in the family have also been highlighted by the study.</span></span></span></span></p> <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 the data of Nepal Rastra Bank, the dependent families received Rs 543. 29 billion in remittance in the fiscal year 2070/71, which increased to 1220.55 billion in FY 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After the increase in income from remittances, the government started the 'Foreign Employment Savings’ scheme with the aim of attracting common people who are employed abroad to save. However, the general public has not been attracted to the scheme.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18949', 'image' => '20231010122137_Remittance.jpg', 'article_date' => '2023-10-10 12:20:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19220', 'article_category_id' => '1', 'title' => 'Parliamentarians Demand Prompt Rescue of Nepalis Trapped in Israel ', 'sub_title' => '', 'summary' => 'October 10: Parliamentarians in during Monday’s meeting of the House of Representatives (HoR) demanded for prompt rescue of the Nepalis trapped in Israel. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: Parliamentarians in during Monday’s meeting of the House of Representatives (HoR) demanded for prompt rescue of the Nepalis trapped in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also demanded that the bodies of those killed in the recent attack by Hamas militants be brought home as early as possible while the injured and the stranded who wish to return back be airlifted. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the House meeting, Nepali Congress MP Arjun Narsingh KC drew the attention of the government to bring the dead bodies of 10 Nepalis who lost their lives in the attack and to provide treatment to the injured ones. He also called for the government to make public the details of the number of Nepalis in Israel and their condition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CPN (UML)'s Gokul Prasad Banskota urged the government for prompt rescue of the Nepalis in Israel waiting to be rescued. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's Ishwar Bahadur Rijal also viewed that the government should immediately rescue those willing to come home from Israel and ensure medical facilities to the injured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other parliamentarians including Chitra Bahadur KC, Anjani Shrestha, Anisha Nepali, Abdul Khan, Amanlal Modi, Amar Bahadur Raymajhi, Amrit Lal Rajbanshi, Ishwari Gharti, Urmila Majhi, Kiran Kumar Shah and Geeta Basnet also demanded for a prompt rescue of the Nepalis in Israel. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18948', 'image' => '20231010111951_Parliament RSS 800.jpg', 'article_date' => '2023-10-10 11:18:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19218', 'article_category_id' => '1', 'title' => 'World Record-Holder Sherpa Missing in Avalanche ', 'sub_title' => '', 'summary' => 'October 10: World record-holder climber and mountain guide Tenzen Sherpa (Lama) has gone missing in an avalanche Mt Shishapangma (8,027 meters) of Tibet, China. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: World record-holder climber and mountain guide Tenzen Sherpa (Lama) has gone missing in an avalanche Mt Shishapangma (8,027 meters) of Tibet, China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">American national Gina Marie Rzucidlo is also missing along with Sherpa in the avalanche that occurred on Saturday in Shishapangma, one of the world's 14th tallest peaks, according to the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press release on Monday, the ministry said that whereabouts of both the climbers is still unknown. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the ministry informed that Karma Gyalzen Sherpa, Mitra Bahadur Tamang and Kami Rita Sherpa have been critically injured in the avalanche. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has been making necessary efforts to carry out a search for the missing ones while some of the climbers were rescued and are receiving treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement said that the ministry and the entire mountaineering sector is shocked from the news about the missing of the renowned world record keeper and climber Sherpa and the American climber. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, guide Mingmar Sherpa and US national Anna Gutu were found dead in the avalanche that occurred on the same day. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18947', 'image' => '20231010104941_sisa.jpg', 'article_date' => '2023-10-10 10:49:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19219', 'article_category_id' => '1', 'title' => 'Israeli Army Claims Re-control of Southern Communities ', 'sub_title' => '', 'summary' => 'October 10: The Israeli military has said that it had regained control of all Israeli towns near the Gaza border, in the third day of battles to repel Hamas militants from southern Israel. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: The Israeli military has said that it had regained control of all Israeli towns near the Gaza border, in the third day of battles to repel Hamas militants from southern Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The control over the communities adjacent to the Gaza Strip has been regained," IDF (Israel Defense Forces) Spokesman Daniel Hagari told reporters, adding but militants could still be in the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Hagari said that tanks and aircraft would secure breaches in the security fence between Israel and Gaza, which Hamas fighters tore down on Saturday as they stormed communities in southern Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel has called for a large-scale mobilization of reserve forces, with more than 300,000 reserve soldiers reporting within hours, said Hagari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Saturday morning, Hamas militants broke through the fence from Gaza while militants in Gaza launched about 3,000 rockets at central and southern Israel. Israel responded with intensive airstrikes in Gaza. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israeli officials reported that at least 700 people were killed in Israel and more than 2,300 others injured. Militant groups in Gaza claimed that about 130 individuals were taken hostage during the attack. Meanwhile, the Palestinian Health Ministry in Gaza reported that at least 493 Palestinians were killed, including 78 minors. -- Xinhua/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18946', 'image' => '20231010111154_AP23281412627233.jpg', 'article_date' => '2023-10-10 11:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19217', 'article_category_id' => '1', 'title' => 'Claudia Goldin Wins Nobel Economics Prize for Work on Gender Gap', 'sub_title' => '', 'summary' => 'Harvard economic historian Claudia Goldin won the 2023 Nobel economics prize for her work exposing the causes of deeply rooted wage and labour market inequality between men and women, the Royal Swedish Academy of Sciences said on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 10: Harvard economic historian Claudia Goldin won the 2023 Nobel economics prize for her work exposing the causes of deeply rooted wage and labour market inequality between men and women, the Royal Swedish Academy of Sciences said on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The prestigious award, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is the last of this year's crop of Nobel prizes and is worth 11 million Swedish crowns, or nearly $1 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"This year's Laureate in the Economic Sciences, Claudia Goldin, provided the first comprehensive account of women's earnings and labour market participation through the centuries," the prize-giving body said in a statement. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Her research reveals the causes of change, as well as the main sources of the remaining gender gap."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The award for economics is the final instalment of this year's crop of Nobels that have seen prizes go to COVID-19 vaccine discoveries, atomic snapshots and "quantum dots" as well as to a Norwegian dramatist and an Iranian activist.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Goldin, who in 1990 became the first woman to be tenured at Harvard's economics department, is only the third woman to win the Nobel economics prize, and the first to win it by herself rather than sharing it. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She hailed the decision as "an award for big ideas and for long-term change."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"There are still large differences between women and men in terms of what they do, how they're remunerated and so on," Goldin told Reuters at her home in Cambridge, Massachusetts. "And the question is, why is this the case? And that's what the work is about."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Goldin's 1990 book "Understanding the Gender Gap: An Economic History of American Women" was a hugely influential examination of the roots of wage inequality over 200 years of history.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She has followed up with studies on the impact of the contraceptive pill on women's career and marriage decisions, women's surnames after marriage as a social indicator and the reasons why women are now the majority of undergraduates.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She said at a press conference at Harvard that women had throughout history often been "hidden from view and uncompensated" for doing the same labour that men were paid for.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"They have over time left that arena of home or family farm or family business and moved to the broader arena of market production," she said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"They've become workers, they've begun earning a living for themselves and for their families. Their lives have greatly changed, but the labour market and the policies of governments are often slower to respond."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Randi Hjalmarsson, a member of the Economic Prize committee, said Goldin's discoveries "have vast societal implications." </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hjalmarsson quoted Goldin's own words: "By finally understanding the problem and calling it by the right name, we will be able to pave a better route forward." (Agencies) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18945', 'image' => '20231010060242_collage (4).jpg', 'article_date' => '2023-10-10 06:00:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '19216', 'article_category_id' => '1', 'title' => '‘Government’s Wrong Policies in the Real Estate Sector Put the Entire Economy in Crisis’', 'sub_title' => '', 'summary' => 'October 9: The real estate entrepreneurs have said that the country's economy is in crisis due to the wrong policy taken by the government in the field of real estate and housing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">October 9: The real estate entrepreneurs have said that the country's economy is in crisis due to the wrong policy taken by the government in the field of real estate and housing. The businessmen said this while speaking at the 'Real Estate Entrepreneurs’ Gathering-2080' organized by the Nepal Real Estate and Housing Development Federation in Kathmandu.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the meeting, Nepal Chamber of Commerce President Rajendra Malla said that all stakeholders should join hands to convert the real estate business into an industry and Nepal Chamber of Commerce will fully support this initiative.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the businessmen are currently in as state of panic because of the flawed lens with which the government has been viewing this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kush Kumar Joshi, the former president of the Federation of Nepalese Chamber of Commerce and Industry said that there is no respect for businessmen and that businessmen viewed as profit-making individuals. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that peaceful demonstration to ensure the rights of businessmen alone is not enough. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'In a country built on movement, nothing will be heard without movement. I do not know which part of the state the businessmen belong to. Where is the taxpayers’ right? Did we lag behind because we did not hit the streets like the teachers did recently?,' he questioned.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Joshi said that the policy that keeps changing from time to time cannot work reliably, and he said that a long-term policy should be introduced. "It should be clear who will pay for the damage caused by this changing policy," said Joshi. He said that the current problem in Nepal's economy is not because of foreign wars but because of the frequent change of governments.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Adviser of Nepal Land and Housing Development Federation, Ichha Bahadur Wagle said that banks and financial sector have gone too far by increasing interest rates. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Banks give 12 percent interest to those who do nothing but eat and sleep,” said Wagle, adding sarcastically that those who toil hard have to pay a 16 percent interest rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chandra Prasad Dhakal, President of Federation of Nepal Chamber of Commerce and Industry, said that it is necessary to increase the confidence of consumers to bring the economy on the right track. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government and the private sector should work together to create a situation to increase the demand in the market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The district coordinators and presidents of the federation who came from all over the country criticized the current governor as the main culprit for the current situation. They said that the leadership should take the initiative, saying that they are ready even if they have to start a street protest. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The president of the federation, Bhesraj Lohani, said that there is still a lot to be done about land pooling, and he said that he would move forward after taking everyone's suggestions into account. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18944', 'image' => '20231009051620_Real estate.jpg', 'article_date' => '2023-10-09 17:15:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19215', 'article_category_id' => '1', 'title' => 'NEPSE Index Continues Its Downward Trend; Turnover Amount Shrinks', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 12.58 points or 0.65% and closed at 1908.66 points on the second trading day of the week, Monday. The Index lost 35.67 points yesterday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 9: The Nepal Stock Exchange(NEPSE) Index lost 12.58 points or 0.65% and closed at 1908.66 points on the second trading day of the week, Monday. The Index lost 35.67 points yesterday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and stock analysts point to Nepal Rastra Bank's strict stock market policies and the festive season as the reasons behind NEPSE's ongoing downward trend.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experts emphasize that the market won't rebound until NRB revises its policies, specifically by removing the upper cap on margin lending and adjusting the risk weightage ratio from 150 to 100.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One investor stated, “The stock market needs a policy shift to regain momentum.” </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, as many as 287 different stocks were traded in the NEPSE. Likewise, 4,327,179 units of shares exchanged their hands through 48,444 transactions, amounting to Rs 1.17 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nabil Bank Limited (NABIL) had the highest turnover, reaching Rs. 3.51 crores, and closed at a market price of Rs. 571.80.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Sayapatri Hydropower Limited (SPHL) posted the highest gain of 6.88%, followed by Three Star Hydropower Limited (TSHL) with a gain of 4.46%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Barahi Hydropower Public Limited (BHPL) and Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL) hit the negative circuit today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices except Manufacturing and Processing and Trading Index closed in the red territory.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> "Trading Index" gained the highest 0.29% while "Life Insurance Index" lost the highest 1% today. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a loss of 0.77%, while Float Index and Sensitive Float Index dropped by 0.70% and 0.92% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18943', 'image' => '20231009044029_collage (17).jpg', 'article_date' => '2023-10-09 16:36:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 11: China announced Tuesday its Belt and Road Initiative infrastructure project had generated two trillion dollars in contracts around the world, equivalent in size to some of the world's biggest economies. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">A white paper from China's State Council also said countries participating in the initiative owe more than $300 billion to the Export-Import Bank of China (Eximbank), a figure one expert said was likely understated but which lays bare the huge debts incurred in the global infrastructure initiative. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China is hailing this month the 10th anniversary of its Belt and Road Initiative (BRI), which has seen Beijing pour a trillion dollars into projects around the world in a defining geopolitical project for President Xi Jinping. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But critics have long accused China of luring lower-income countries into debt traps by offering huge, unaffordable loans. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing said Tuesday the value of signed construction contracts with partners now totalled two trillion dollars -- roughly the size of the economy of Russia or Canada. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And "the actual turnover of Chinese contractors reached $1.3 trillion", it said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It also said the balance of loans for BRI projects from Eximbank -- a key BRI creditor -- now totalled 2.2 trillion yuan ($307.4 billion). </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">That total covers "130-plus participating countries and driving more than $400 billion of investment and more than $2 trillion of trade", the white paper said, suggesting an average of $2.4 billion in debts per country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The paper did not detail which countries owe the most, nor the kind of interest rates they are expected to pay. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">One expert told AFP the figure, while large, was likely "vastly underestimated". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"There have been other academic research papers that have written on these hidden debts that could add up to $800 billion," Niva Yau, a non-resident fellow with the Atlantic Council's Global China Hub, said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We simply don't have information about these projects and how these figures have added up," she said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">'Real gains' </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Exim Bank has financed major transport and energy projects across the BRI and has been linked to foreign loan plans everywhere from Africa to Central Asia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing's Silk Road Fund -- established to help fund BRI projects -- in turn has "signed agreements on 75 projects with committed investment of about $22 billion", the white paper said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China's State Council hailed the BRI on Tuesday as having "delivered real gains to participating countries". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">However, many of its partners are increasingly wary about the cost involved. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Italy, the only one of the group of leading developed democracies to sign up to the investment scheme, said last month it was considering opting out of the deal. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing is due to host the third Belt and Road Forum for International Cooperation this month, with Russian President Vladimir Putin set to attend in his first visit to China since his invasion of Ukraine. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China is yet to confirm when the forum will take place. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We welcome countries and partners actively participating in the Belt and Road Initiative to come to Beijing to discuss cooperation plans and seek common development," foreign ministry spokesperson Mao Ning said last month. – AFP/RSS </span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18957', 'image' => '20231011113404_20201117123742_88500034 2.jpg', 'article_date' => '2023-10-11 11:33:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19228', 'article_category_id' => '1', 'title' => 'Nepali Students relocated to Secure Places from Gaza Strip', 'sub_title' => '', 'summary' => 'October 11: All 55 Nepali students working in an agriculture farm along the Israel-Gaza border have been relocated to secure places. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 11: All 55 Nepali students working in an agriculture farm along the Israel-Gaza border have been relocated to secure places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Nepali Embassy in Tel Aviv, 72 Nepali nationals who were awaiting rescue from the northern border of Israel have also been shifted to safer areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy also shared that four Nepalis who sustained injuries in Saturday’s attack are witnessing gradual improvement in their health while the search for a missing Nepali is currently underway with the help of all available local and diplomatic mechanisms, including police and hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Authorities said that over 350 Nepalis eager to return home have so far registered their names at the Nepali Embassy. The process for their safe return has already been initiated, according to the embassy officials. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18956', 'image' => '20231011110012_AP23282506358002 (1).jpg', 'article_date' => '2023-10-11 10:59:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19227', 'article_category_id' => '1', 'title' => 'Kaligandaki Transmission Corridor Project Completed', 'sub_title' => '', 'summary' => 'The construction of the Kaligandaki Corridor transmission line has reached its completion. This 220-kV double-circuit transmission line is expected to play a crucial role in enhancing the national electricity grid system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 11: The construction of the Kaligandaki Corridor transmission line has reached its completion. This 220-kV double-circuit transmission line is expected to play a crucial role in enhancing the national electricity grid system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The transmission line starts at the Dana substation in Annapurna rural municipality-3, Myagdi, and spans an impressive 88 kilometers to reach the New Butwal Substation in Sunwal, Nawalparasi. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In 2017, the contract for the construction of this 88-kilometer transmission line, known as the Kushma-New Butwal Transmission Line, was signed with the Indian company L&T. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The project's estimated cost stands at approximately Rs 11 billion, and it was jointly implemented by the government and the Nepal Electricity Authority, with support from the South Asia Subregional Economic Cooperation (SASEC) under the Asian Development Bank. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kulman Ghising, the managing director of the Nepal Electricity Authority (NEA), expressed hope that the operation of this transmission line will significantly enhance the reliability of the integrated electricity supply system and address voltage-related issues in the Nawalparasi and Rupandehi areas. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18955', 'image' => '20231011053126_collage (5).jpg', 'article_date' => '2023-10-11 05:29:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19226', 'article_category_id' => '1', 'title' => 'IMF says World Economy Resilient to Shocks but still 'Limping'', 'sub_title' => '', 'summary' => 'October 10: The International Monetary Fund (IMF) kept its 2023 global growth forecast unchanged on Tuesday but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">October 10: The International Monetary Fund (IMF) kept its 2023 global growth forecast unchanged on Tuesday but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, the IMF's updated World Economic Outlook still sees growth of 3.0 percent for this year but it cut its forecast for 2024 to 2.9 percent, down 0.1 percentage points from its July report.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">"The economy continues to recover from the pandemic and Russia's invasion of Ukraine, showing remarkable resilience," AFP quoted IMF's chief economist Pierre-Olivier Gourinchas as saying.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">"Yet growth remains slow and uneven. The global economy is limping along, not sprinting," he said at a news conference during the institution's annual meetings in Marrakesh, Morocco.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">Inflation, which has fallen sharply since last year, is predicted to remain elevated at 6.9 percent this year, up slightly from July, and 5.8 percent in 2024, up 0.6 percentage points, added AFP.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">According to the French news agency, central banks across the world have raised interest rates sharply in efforts to contain inflation.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">The move could have knock-on effects on growth, but the IMF warned central banks against easing the monetary tightening too soon, adding that it still expects the global economy to have a "soft landing" -- a slowdown that avoids recession.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => 'IMF, world, economy, shock, Covid, Russia, Ukraine, inflation, bank', 'description' => '', 'sortorder' => '18954', 'image' => '20231010064830_20231006125525_20220426051733_imf.jpg', 'article_date' => '2023-10-10 18:47:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19225', 'article_category_id' => '1', 'title' => 'NEPSE’s Fall Has No Rest in Sight', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 19.06 points or 0.99% and closed at 1889.59 points on the third trading day of the week, Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 10: The Nepal Stock Exchange(NEPSE) Index lost 19.06 points or 0.99% and closed at 1889.59 points on the third trading day of the week, Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investors and stock analysts attribute to the persistent decline in the market to the festive season. Furthermore, they argue that the policies implemented by Nepal Rastra Bank against the stock market have contributed to the bearish cycle seen in the NEPSE Index.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, a total of 282 scrips were traded through 44,069 transactions. Similarly, as many as 4,287,424 units of shares exchanged their hands, amounting to Rs 1.28 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sanima GIC Insurance had the highest turnover of Rs 20 crores, closing at a market price of Rs 499 per unit of share. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Upper Lohore Khola Hydropower Company Limited ( ULHC) </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">posted the highest gain of 5.86%, followed by Infinity Laghubitta Bittiya Sanstha(ILBS) with a gain of 4.19%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Barahi Hydropower Public Limited (BHPL) recorded the highest loss, with a drop of 7.64%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the red territory. Hydropower Index lost the highest 1.79% and Manufacturing and Processing lost the lowest 0.12% in today’s trading. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a loss of 0.94%, while Float Index and Sensitive Float Index dropped by 1.04 % and 1.03% respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18953', 'image' => '20231010041258_collage (18).jpg', 'article_date' => '2023-10-10 16:11:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '19224', 'article_category_id' => '1', 'title' => 'Things to Know about the Nobel Prizes ', 'sub_title' => '', 'summary' => 'October 10: The annual Nobel Prize announcements are over with the final award, for economics, going to Harvard professor Claudia Goldin for advancing the understanding of women’s labor market outcomes. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: The annual Nobel Prize announcements are over with the final award, for economics, going to Harvard professor Claudia Goldin for advancing the understanding of women’s labor market outcomes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The 2023 prize announcements started on October 2 with the Nobel Prize in medicine being awarded to two scientists whose discoveries enabled the development of mRNA vaccines against COVID-19. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The following day, three scientists won the physics prize for their work on how electrons zip around the atom in the tiniest fractions of seconds. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Three U.S.-based researchers shared the chemistry prize on Oct. 4 for their study of quantum dots — tiny particles that can release very bright colored light and are used in electronics and medical imaging. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On October 5, the Swedish Academy awarded Norwegian writer Jon Fosse the literature award for works that “give voice to the unsayable." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Imprisoned activist Narges Mohammadi won the Nobel Peace Prize the next day for her campaign against the oppression of women and for human rights in Iran. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The awards will be handed out on December 10. Here are some things to know about the Nobel Prizes: </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">AN IDEA MORE POWERFUL THAN DYNAMITE </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nobel Prizes were created by Alfred Nobel, a 19th-century businessman and chemist from Sweden. He held more than 300 patents but his claim to fame before the Nobel Prizes was having invented dynamite by mixing nitroglycerine with a compound that made the explosive more stable. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dynamite soon became popular in construction and mining as well as in the weapons industry. It made Nobel a very rich man. Perhaps it also made him think about his legacy, because toward the end of his life he decided to use his vast fortune to fund annual prizes “to those who, during the preceding year, have conferred the greatest benefit to humankind.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first Nobel Prizes were presented in 1901, five years after his death. In 1968, a sixth prize was created, for economics, by Sweden’s central bank. Though Nobel purists stress that the economics prize is technically not a Nobel Prize, it’s always presented together with the others. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">PEACE IN NORWAY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">For reasons that are not entirely clear, Nobel decided that the peace prize should be awarded in Norway and the other prizes in Sweden. Nobel historians suspect Sweden’s history of militarism may have been a factor. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During Nobel’s lifetime, Sweden and Norway were in a union, which the Norwegians reluctantly joined after the Swedes invaded their country in 1814. It’s possible that Nobel thought Norway would be a more suitable location for a prize meant to encourage “fellowship among nations.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">To this day, the Nobel Peace Prize is a completely Norwegian affair, with the winners selected and announced by a Norwegian committee. The peace prize even has its own ceremony in the Norwegian capital of Oslo on Dec. 10 — the anniversary of Nobel’s death while the other prizes are presented in Stockholm. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">WHAT’S POLITICS GOT TO DO WITH IT? </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nobel Prizes project an aura of being above the political fray, focused solely on the benefit of humanity. But the peace and literature awards, in particular, are sometimes accused of being politicized. Critics question whether winners are selected because their work is truly outstanding or because it aligns with the political preferences of the judges. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The scrutiny can get intense for high-profile awards, such as in 2009, when President Barack Obama won the peace prize less than a year after taking office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Norwegian Nobel Committee is an independent body that insists its only mission is to carry out the will of Alfred Nobel. However, it does have links to Norway's political system. The five members are appointed by the Norwegian Parliament, so the panel's composition reflects the power balance in the legislature. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">To avoid the perception that the prizes are influenced by Norway’s political leaders, sitting members of the Norwegian government or Parliament are barred from serving on the committee. Even so, the panel isn't always viewed as independent by foreign countries. When imprisoned Chinese dissident Liu Xiaobo won the peace prize in 2010, Beijing responded by freezing trade talks with Norway. It took years for Norway-China relations to be restored. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">GOLD AND GLORY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">One reason the prizes are so famous is they come with a generous amount of cash. The Nobel Foundation, which administers the awards, raised the prize money by 10% this year to 11 million kronor (about $1 million). In addition to the money, the winners receive an 18-carat gold medal and diploma when they collect their Nobel Prizes at the award ceremonies in December. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Most winners are proud and humbled by joining the pantheon of Nobel laureates, from Albert Einstein to Mother Teresa. But two winners refused their Nobel Prizes: French writer Jean-Paul Sartre, who turned down the literature prize in 1964, and Vietnamese politician Le Duc Tho, who declined the peace prize that he was meant to share with U.S. diplomat Henry Kissinger in 1973. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Several others were not able to receive their awards because they were imprisoned, such as Belarusian pro-democracy activist Ales Bialiatski, who shared last year’s peace prize with human rights groups in Ukraine and Russia. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">LACK OF DIVERSITY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Historically, the vast majority of Nobel Prize winners have been white men. Though that’s started to change, there is still little diversity among Nobel winners, particularly in the science categories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With Monday's announcement, 64 women have won Nobel Prizes, including 28 in the scientific categories. Only five women have won the physics award, and just three have won the economics prize. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Four women were among the 11 Nobel Prize winners this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the early days of the Nobel Prizes, the lack of diversity among winners could be explained by the lack of diversity among scientists in general. But today critics say the judges need to do a better job at highlighting discoveries made by women and scientists outside Europe and North America. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The prize committees say their decisions are based on scientific merit, not gender, nationality or race. However, they are not deaf to the criticism. Five years ago, the head of the Royal Swedish Academy of Sciences said it had started to ask nominating bodies to make sure they don’t overlook “women or people of other ethnicities or nationalities in their nominations.” – AP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18952', 'image' => '20231010023640_Untitled.jpg', 'article_date' => '2023-10-10 14:36:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19223', 'article_category_id' => '1', 'title' => 'Construction of Railway Track from Biratnagar to Kathari Doubtful', 'sub_title' => '', 'summary' => 'October 10: A section of the 18.6 km cargo broad gauge railway track from Bathnaha in India to Kathari Rural Municipality via Biratnagar has been completed. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 10: A section of the 18.6 km cargo broad gauge railway track from Bathnaha in India to Kathari Rural Municipality via Biratnagar has been completed. However, another section of the railway track remains incomplete due to the dispute over compensation. The construction company Ircon has returned back with its equipment after the locals obstructed its work.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the first section from Bathnaha to Biratnagar ICP measuring 8 km was completed and jointly inaugurated by Prime Ministers Narendra Modi and Pushpa Kamal Dahal on June 1. On the day of the inauguration, the cargo train carrying raw material of Aarati Strip came and returned. But even after 6 months of inauguration, not a single train has hit the tracks. Importing industrial raw materials by cargo train is expected to reduce the freight charge by at least 40 percent, but the cargo train is yet to operate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the second section, the work remains to be done in 10 kilometer stretch from Biratnagar customs to Ward No 1 of Kathari Rural Municipality. Although the infrastructure is ready for laying the track, the Indian company Ircon returned back with its equipment due to the compensation dispute.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ircon says that it cannot work according to the cost of the contract signed 12 years ago. According to Ircon, the equipment is taken back because the price of construction materials have increased and there are problems on the site. Deepak Kumar, manager of Ircon said that the land was not made available and the equipment was taken away as his company is also undertaking other contract works in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There was a bilateral agreement that the Nepalese side should acquire 119 bighas of land and let Ircon work for the construction of the railway track. The compensation determination committee at that time distributed compensation at the rate of Rs 200,000 per kattha of land. However, the owners of six-bigha land filed a case at the Supreme Court saying that they were not satisfied with the compensation provided by the government. The decision is still sub judice in the apex court.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Altogether 22 people including Bishwonath Majhi of Kathari 1 had filed a case in the Supreme Court saying that they were not satisfied with the compensation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the government did not provide land for the construction of the station yard, the work was halted, said Manoj Poddar, a sub-contractor. Ircon awarded the contract to SC Agarwal Company of Delhi for the construction of railway link. The said company has sub-contracted the work to Ready Construction of Biratnagar.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Manager of the Department of Railways Nirajan Kumar Jha said that the contract will be canceled if the construction work does not go ahead before Dashain. The contractor warned that the contract will be terminated if the land is not available before Dashain.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the 18.6 km long broad gauge railway from Bathnaha in India to Katahari in Nepal was started in 2011 at an estimated cost of about INR 4 billion by the Ircon Company. Construction should have been completed by 2017, but so far, only less than half of the work is done.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18951', 'image' => '20231010022833_1696902770.2023-10-10 07.37.20.jpg', 'article_date' => '2023-10-10 14:27:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19222', 'article_category_id' => '1', 'title' => 'Cargo Operators Must Comply with New VAT Law: Revenue Official', 'sub_title' => '', 'summary' => 'October 10: The Inland Revenue Office, Biratnagar, held a discussion with the transport entrepreneurs in order to clear the confusion caused by the Finance Act 2080, which mandates cargo operators with annual transactions more than Rs 5 million to be registered under Value Added Tax (VAT).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 10: The Inland Revenue Office, Biratnagar, held a discussion with the transport entrepreneurs in order to clear the confusion caused by the Finance Act 2080, which mandates cargo operators with annual transactions more than Rs 5 million to be registered under Value Added Tax (VAT).</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"">During the discussion, the businessmen complained that they were confused by the government’s decision to add and remove VAT on cargo from time to time.</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 government had implemented VAT on cargo in 2076. It was removed in 2078 and now has put it back. The transport entrepreneurs with transaction more than the amount specified by the Finance Act must register themselves under VAT keep clear details of transaction and also issue bills.</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"">Answering the questions raised during the discussion, Dr DB Chhetri, the chief tax officer of the office emphasized that everyone should follow the new policy introduced by the government. </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 event was attended by Meghraj Sigdel, deputy general secretary of the Truck Traders Federation, Shambhu Bhattarai, vice president of Biratnagar Transport Association Morang, General Secretary Khagendra Sigdel and other stakeholders.</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"">Dr Chhetri informed the businessmen about the change in the government's policy.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18950', 'image' => '20231010011212_20210107010829_1609973629.Clipboard16.jpg', 'article_date' => '2023-10-10 13:11:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19221', 'article_category_id' => '1', 'title' => 'More than Half of the Remittances are Spent on Consumable Goods', 'sub_title' => '', 'summary' => 'October 10: Although the government has adopted a policy to encourage the use of income from remittances in productive sector, it has been found that more than half of the amount is spent on daily consumption.', '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 10: Although the government has adopted a policy to encourage the use of income from remittances in productive sector, it has been found that more than half of the amount is spent on daily consumption.</span></span></span></span></p> <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"">A study titled 'Impact of Foreign Employment on the Economic and Social Sectors in Lumbini Province' conducted by Nepal Rastra Bank has shown that most of the money received from remittances is spent on daily consumer goods, education, health, entertainment and other unproductive areas. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank prepared the report based on a study and on-site survey of 383 families whose members have gone for foreign employment from five districts of Lumbini Province including Gulmi, Arghakhanchi, Palpa, Rupandehi and Rolpa.</span></span></span></span></p> <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 study revealed the fact that 58.78 percent of the money earned from foreign employment is spent on daily consumption, 22.48 percent on education and health, 10.07 percent on debt repayment and 8.67 percent on entertainment. </span></span></span></span></p> <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"">Due to the increase in the expenses of the families of people who have gone for foreign employment, the remittance income has been spent on consumption. </span></span></span></span></p> <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"">Among the surveyed families, the daily consumption expenditure of 96.61 percent has increased compared to the period before going to foreign employment. Likewise, 96.08 percent of the families’ expenditure on festivals, entertainment and social expenses have also increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The study found that the families who receive remittances invested in trade, business, housing and jewelry. Around 68.21 percent of families invested in business, 65.80 percent in housing and 63.19 percent in jewelry.</span></span></span></span></p> <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"">Altogether 88.25 percent of the families involved in foreign employment included in the study said that their savings have increased. Among those families, 13.05 percent said that the arable land has increased, 51.44 percent said that the arable land has remained the same and 35.51 percent said that the arable land has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although most of the people use non-banking channels to manage the money required for foreign employment, financial access has increased due to remittance income. Only 15.10 percent of the workers going for foreign employment said that they managed the expenses incurred while going to work abroad from banks and financial institutions. The study showed that 84.90 percent manage their expenses by taking personal loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that 86 percent of families employed abroad use electronic means and checks for financial transactions and 14 percent use cash. After going to foreign employment, the savings account of the family members increased by 39.58 percent and the loan account increased by 130.65 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Similarly, the study report mentions that the number of families without any bank account before going abroad was 37.08 percent, which dropped to 0.52 percent after going abroad.</span></span></span></span></p> <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"">It has been found that most of the people who go for foreign employment have poor formal education and do not take skill-related training. The study found that 40.73 percent of people who go for foreign employment have completed basic education, 13.32 percent have completed secondary-level education and 2.87 percent have studied up to master's degree or above. </span></span></span></span></p> <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"">Among those engaged in foreign employment, 76 percent do not take skill-related training and 24 percent take such training.</span></span></span></span></p> <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"">Access to education, health and communication, the social status of the family, and harmony in the family have also been highlighted by the study.</span></span></span></span></p> <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 the data of Nepal Rastra Bank, the dependent families received Rs 543. 29 billion in remittance in the fiscal year 2070/71, which increased to 1220.55 billion in FY 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After the increase in income from remittances, the government started the 'Foreign Employment Savings’ scheme with the aim of attracting common people who are employed abroad to save. However, the general public has not been attracted to the scheme.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18949', 'image' => '20231010122137_Remittance.jpg', 'article_date' => '2023-10-10 12:20:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19220', 'article_category_id' => '1', 'title' => 'Parliamentarians Demand Prompt Rescue of Nepalis Trapped in Israel ', 'sub_title' => '', 'summary' => 'October 10: Parliamentarians in during Monday’s meeting of the House of Representatives (HoR) demanded for prompt rescue of the Nepalis trapped in Israel. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: Parliamentarians in during Monday’s meeting of the House of Representatives (HoR) demanded for prompt rescue of the Nepalis trapped in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also demanded that the bodies of those killed in the recent attack by Hamas militants be brought home as early as possible while the injured and the stranded who wish to return back be airlifted. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the House meeting, Nepali Congress MP Arjun Narsingh KC drew the attention of the government to bring the dead bodies of 10 Nepalis who lost their lives in the attack and to provide treatment to the injured ones. He also called for the government to make public the details of the number of Nepalis in Israel and their condition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CPN (UML)'s Gokul Prasad Banskota urged the government for prompt rescue of the Nepalis in Israel waiting to be rescued. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's Ishwar Bahadur Rijal also viewed that the government should immediately rescue those willing to come home from Israel and ensure medical facilities to the injured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other parliamentarians including Chitra Bahadur KC, Anjani Shrestha, Anisha Nepali, Abdul Khan, Amanlal Modi, Amar Bahadur Raymajhi, Amrit Lal Rajbanshi, Ishwari Gharti, Urmila Majhi, Kiran Kumar Shah and Geeta Basnet also demanded for a prompt rescue of the Nepalis in Israel. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18948', 'image' => '20231010111951_Parliament RSS 800.jpg', 'article_date' => '2023-10-10 11:18:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19218', 'article_category_id' => '1', 'title' => 'World Record-Holder Sherpa Missing in Avalanche ', 'sub_title' => '', 'summary' => 'October 10: World record-holder climber and mountain guide Tenzen Sherpa (Lama) has gone missing in an avalanche Mt Shishapangma (8,027 meters) of Tibet, China. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: World record-holder climber and mountain guide Tenzen Sherpa (Lama) has gone missing in an avalanche Mt Shishapangma (8,027 meters) of Tibet, China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">American national Gina Marie Rzucidlo is also missing along with Sherpa in the avalanche that occurred on Saturday in Shishapangma, one of the world's 14th tallest peaks, according to the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press release on Monday, the ministry said that whereabouts of both the climbers is still unknown. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the ministry informed that Karma Gyalzen Sherpa, Mitra Bahadur Tamang and Kami Rita Sherpa have been critically injured in the avalanche. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has been making necessary efforts to carry out a search for the missing ones while some of the climbers were rescued and are receiving treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement said that the ministry and the entire mountaineering sector is shocked from the news about the missing of the renowned world record keeper and climber Sherpa and the American climber. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, guide Mingmar Sherpa and US national Anna Gutu were found dead in the avalanche that occurred on the same day. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18947', 'image' => '20231010104941_sisa.jpg', 'article_date' => '2023-10-10 10:49:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19219', 'article_category_id' => '1', 'title' => 'Israeli Army Claims Re-control of Southern Communities ', 'sub_title' => '', 'summary' => 'October 10: The Israeli military has said that it had regained control of all Israeli towns near the Gaza border, in the third day of battles to repel Hamas militants from southern Israel. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: The Israeli military has said that it had regained control of all Israeli towns near the Gaza border, in the third day of battles to repel Hamas militants from southern Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The control over the communities adjacent to the Gaza Strip has been regained," IDF (Israel Defense Forces) Spokesman Daniel Hagari told reporters, adding but militants could still be in the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Hagari said that tanks and aircraft would secure breaches in the security fence between Israel and Gaza, which Hamas fighters tore down on Saturday as they stormed communities in southern Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel has called for a large-scale mobilization of reserve forces, with more than 300,000 reserve soldiers reporting within hours, said Hagari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Saturday morning, Hamas militants broke through the fence from Gaza while militants in Gaza launched about 3,000 rockets at central and southern Israel. Israel responded with intensive airstrikes in Gaza. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israeli officials reported that at least 700 people were killed in Israel and more than 2,300 others injured. Militant groups in Gaza claimed that about 130 individuals were taken hostage during the attack. Meanwhile, the Palestinian Health Ministry in Gaza reported that at least 493 Palestinians were killed, including 78 minors. -- Xinhua/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18946', 'image' => '20231010111154_AP23281412627233.jpg', 'article_date' => '2023-10-10 11:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19217', 'article_category_id' => '1', 'title' => 'Claudia Goldin Wins Nobel Economics Prize for Work on Gender Gap', 'sub_title' => '', 'summary' => 'Harvard economic historian Claudia Goldin won the 2023 Nobel economics prize for her work exposing the causes of deeply rooted wage and labour market inequality between men and women, the Royal Swedish Academy of Sciences said on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 10: Harvard economic historian Claudia Goldin won the 2023 Nobel economics prize for her work exposing the causes of deeply rooted wage and labour market inequality between men and women, the Royal Swedish Academy of Sciences said on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The prestigious award, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is the last of this year's crop of Nobel prizes and is worth 11 million Swedish crowns, or nearly $1 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"This year's Laureate in the Economic Sciences, Claudia Goldin, provided the first comprehensive account of women's earnings and labour market participation through the centuries," the prize-giving body said in a statement. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Her research reveals the causes of change, as well as the main sources of the remaining gender gap."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The award for economics is the final instalment of this year's crop of Nobels that have seen prizes go to COVID-19 vaccine discoveries, atomic snapshots and "quantum dots" as well as to a Norwegian dramatist and an Iranian activist.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Goldin, who in 1990 became the first woman to be tenured at Harvard's economics department, is only the third woman to win the Nobel economics prize, and the first to win it by herself rather than sharing it. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She hailed the decision as "an award for big ideas and for long-term change."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"There are still large differences between women and men in terms of what they do, how they're remunerated and so on," Goldin told Reuters at her home in Cambridge, Massachusetts. "And the question is, why is this the case? And that's what the work is about."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Goldin's 1990 book "Understanding the Gender Gap: An Economic History of American Women" was a hugely influential examination of the roots of wage inequality over 200 years of history.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She has followed up with studies on the impact of the contraceptive pill on women's career and marriage decisions, women's surnames after marriage as a social indicator and the reasons why women are now the majority of undergraduates.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She said at a press conference at Harvard that women had throughout history often been "hidden from view and uncompensated" for doing the same labour that men were paid for.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"They have over time left that arena of home or family farm or family business and moved to the broader arena of market production," she said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"They've become workers, they've begun earning a living for themselves and for their families. Their lives have greatly changed, but the labour market and the policies of governments are often slower to respond."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Randi Hjalmarsson, a member of the Economic Prize committee, said Goldin's discoveries "have vast societal implications." </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hjalmarsson quoted Goldin's own words: "By finally understanding the problem and calling it by the right name, we will be able to pave a better route forward." (Agencies) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18945', 'image' => '20231010060242_collage (4).jpg', 'article_date' => '2023-10-10 06:00:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '19216', 'article_category_id' => '1', 'title' => '‘Government’s Wrong Policies in the Real Estate Sector Put the Entire Economy in Crisis’', 'sub_title' => '', 'summary' => 'October 9: The real estate entrepreneurs have said that the country's economy is in crisis due to the wrong policy taken by the government in the field of real estate and housing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">October 9: The real estate entrepreneurs have said that the country's economy is in crisis due to the wrong policy taken by the government in the field of real estate and housing. The businessmen said this while speaking at the 'Real Estate Entrepreneurs’ Gathering-2080' organized by the Nepal Real Estate and Housing Development Federation in Kathmandu.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the meeting, Nepal Chamber of Commerce President Rajendra Malla said that all stakeholders should join hands to convert the real estate business into an industry and Nepal Chamber of Commerce will fully support this initiative.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the businessmen are currently in as state of panic because of the flawed lens with which the government has been viewing this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kush Kumar Joshi, the former president of the Federation of Nepalese Chamber of Commerce and Industry said that there is no respect for businessmen and that businessmen viewed as profit-making individuals. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that peaceful demonstration to ensure the rights of businessmen alone is not enough. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'In a country built on movement, nothing will be heard without movement. I do not know which part of the state the businessmen belong to. Where is the taxpayers’ right? Did we lag behind because we did not hit the streets like the teachers did recently?,' he questioned.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Joshi said that the policy that keeps changing from time to time cannot work reliably, and he said that a long-term policy should be introduced. "It should be clear who will pay for the damage caused by this changing policy," said Joshi. He said that the current problem in Nepal's economy is not because of foreign wars but because of the frequent change of governments.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Adviser of Nepal Land and Housing Development Federation, Ichha Bahadur Wagle said that banks and financial sector have gone too far by increasing interest rates. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Banks give 12 percent interest to those who do nothing but eat and sleep,” said Wagle, adding sarcastically that those who toil hard have to pay a 16 percent interest rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chandra Prasad Dhakal, President of Federation of Nepal Chamber of Commerce and Industry, said that it is necessary to increase the confidence of consumers to bring the economy on the right track. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government and the private sector should work together to create a situation to increase the demand in the market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The district coordinators and presidents of the federation who came from all over the country criticized the current governor as the main culprit for the current situation. They said that the leadership should take the initiative, saying that they are ready even if they have to start a street protest. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The president of the federation, Bhesraj Lohani, said that there is still a lot to be done about land pooling, and he said that he would move forward after taking everyone's suggestions into account. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18944', 'image' => '20231009051620_Real estate.jpg', 'article_date' => '2023-10-09 17:15:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19215', 'article_category_id' => '1', 'title' => 'NEPSE Index Continues Its Downward Trend; Turnover Amount Shrinks', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 12.58 points or 0.65% and closed at 1908.66 points on the second trading day of the week, Monday. The Index lost 35.67 points yesterday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 9: The Nepal Stock Exchange(NEPSE) Index lost 12.58 points or 0.65% and closed at 1908.66 points on the second trading day of the week, Monday. The Index lost 35.67 points yesterday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and stock analysts point to Nepal Rastra Bank's strict stock market policies and the festive season as the reasons behind NEPSE's ongoing downward trend.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experts emphasize that the market won't rebound until NRB revises its policies, specifically by removing the upper cap on margin lending and adjusting the risk weightage ratio from 150 to 100.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One investor stated, “The stock market needs a policy shift to regain momentum.” </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, as many as 287 different stocks were traded in the NEPSE. Likewise, 4,327,179 units of shares exchanged their hands through 48,444 transactions, amounting to Rs 1.17 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nabil Bank Limited (NABIL) had the highest turnover, reaching Rs. 3.51 crores, and closed at a market price of Rs. 571.80.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Sayapatri Hydropower Limited (SPHL) posted the highest gain of 6.88%, followed by Three Star Hydropower Limited (TSHL) with a gain of 4.46%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Barahi Hydropower Public Limited (BHPL) and Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL) hit the negative circuit today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices except Manufacturing and Processing and Trading Index closed in the red territory.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> "Trading Index" gained the highest 0.29% while "Life Insurance Index" lost the highest 1% today. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a loss of 0.77%, while Float Index and Sensitive Float Index dropped by 0.70% and 0.92% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18943', 'image' => '20231009044029_collage (17).jpg', 'article_date' => '2023-10-09 16:36:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 11: China announced Tuesday its Belt and Road Initiative infrastructure project had generated two trillion dollars in contracts around the world, equivalent in size to some of the world's biggest economies. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">A white paper from China's State Council also said countries participating in the initiative owe more than $300 billion to the Export-Import Bank of China (Eximbank), a figure one expert said was likely understated but which lays bare the huge debts incurred in the global infrastructure initiative. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China is hailing this month the 10th anniversary of its Belt and Road Initiative (BRI), which has seen Beijing pour a trillion dollars into projects around the world in a defining geopolitical project for President Xi Jinping. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But critics have long accused China of luring lower-income countries into debt traps by offering huge, unaffordable loans. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing said Tuesday the value of signed construction contracts with partners now totalled two trillion dollars -- roughly the size of the economy of Russia or Canada. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And "the actual turnover of Chinese contractors reached $1.3 trillion", it said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It also said the balance of loans for BRI projects from Eximbank -- a key BRI creditor -- now totalled 2.2 trillion yuan ($307.4 billion). </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">That total covers "130-plus participating countries and driving more than $400 billion of investment and more than $2 trillion of trade", the white paper said, suggesting an average of $2.4 billion in debts per country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The paper did not detail which countries owe the most, nor the kind of interest rates they are expected to pay. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">One expert told AFP the figure, while large, was likely "vastly underestimated". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"There have been other academic research papers that have written on these hidden debts that could add up to $800 billion," Niva Yau, a non-resident fellow with the Atlantic Council's Global China Hub, said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We simply don't have information about these projects and how these figures have added up," she said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">'Real gains' </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Exim Bank has financed major transport and energy projects across the BRI and has been linked to foreign loan plans everywhere from Africa to Central Asia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing's Silk Road Fund -- established to help fund BRI projects -- in turn has "signed agreements on 75 projects with committed investment of about $22 billion", the white paper said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China's State Council hailed the BRI on Tuesday as having "delivered real gains to participating countries". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">However, many of its partners are increasingly wary about the cost involved. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Italy, the only one of the group of leading developed democracies to sign up to the investment scheme, said last month it was considering opting out of the deal. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing is due to host the third Belt and Road Forum for International Cooperation this month, with Russian President Vladimir Putin set to attend in his first visit to China since his invasion of Ukraine. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China is yet to confirm when the forum will take place. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We welcome countries and partners actively participating in the Belt and Road Initiative to come to Beijing to discuss cooperation plans and seek common development," foreign ministry spokesperson Mao Ning said last month. – AFP/RSS </span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18957', 'image' => '20231011113404_20201117123742_88500034 2.jpg', 'article_date' => '2023-10-11 11:33:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19228', 'article_category_id' => '1', 'title' => 'Nepali Students relocated to Secure Places from Gaza Strip', 'sub_title' => '', 'summary' => 'October 11: All 55 Nepali students working in an agriculture farm along the Israel-Gaza border have been relocated to secure places. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 11: All 55 Nepali students working in an agriculture farm along the Israel-Gaza border have been relocated to secure places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Nepali Embassy in Tel Aviv, 72 Nepali nationals who were awaiting rescue from the northern border of Israel have also been shifted to safer areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy also shared that four Nepalis who sustained injuries in Saturday’s attack are witnessing gradual improvement in their health while the search for a missing Nepali is currently underway with the help of all available local and diplomatic mechanisms, including police and hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Authorities said that over 350 Nepalis eager to return home have so far registered their names at the Nepali Embassy. The process for their safe return has already been initiated, according to the embassy officials. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18956', 'image' => '20231011110012_AP23282506358002 (1).jpg', 'article_date' => '2023-10-11 10:59:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19227', 'article_category_id' => '1', 'title' => 'Kaligandaki Transmission Corridor Project Completed', 'sub_title' => '', 'summary' => 'The construction of the Kaligandaki Corridor transmission line has reached its completion. This 220-kV double-circuit transmission line is expected to play a crucial role in enhancing the national electricity grid system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 11: The construction of the Kaligandaki Corridor transmission line has reached its completion. This 220-kV double-circuit transmission line is expected to play a crucial role in enhancing the national electricity grid system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The transmission line starts at the Dana substation in Annapurna rural municipality-3, Myagdi, and spans an impressive 88 kilometers to reach the New Butwal Substation in Sunwal, Nawalparasi. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In 2017, the contract for the construction of this 88-kilometer transmission line, known as the Kushma-New Butwal Transmission Line, was signed with the Indian company L&T. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The project's estimated cost stands at approximately Rs 11 billion, and it was jointly implemented by the government and the Nepal Electricity Authority, with support from the South Asia Subregional Economic Cooperation (SASEC) under the Asian Development Bank. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kulman Ghising, the managing director of the Nepal Electricity Authority (NEA), expressed hope that the operation of this transmission line will significantly enhance the reliability of the integrated electricity supply system and address voltage-related issues in the Nawalparasi and Rupandehi areas. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18955', 'image' => '20231011053126_collage (5).jpg', 'article_date' => '2023-10-11 05:29:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19226', 'article_category_id' => '1', 'title' => 'IMF says World Economy Resilient to Shocks but still 'Limping'', 'sub_title' => '', 'summary' => 'October 10: The International Monetary Fund (IMF) kept its 2023 global growth forecast unchanged on Tuesday but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">October 10: The International Monetary Fund (IMF) kept its 2023 global growth forecast unchanged on Tuesday but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, the IMF's updated World Economic Outlook still sees growth of 3.0 percent for this year but it cut its forecast for 2024 to 2.9 percent, down 0.1 percentage points from its July report.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">"The economy continues to recover from the pandemic and Russia's invasion of Ukraine, showing remarkable resilience," AFP quoted IMF's chief economist Pierre-Olivier Gourinchas as saying.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">"Yet growth remains slow and uneven. The global economy is limping along, not sprinting," he said at a news conference during the institution's annual meetings in Marrakesh, Morocco.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">Inflation, which has fallen sharply since last year, is predicted to remain elevated at 6.9 percent this year, up slightly from July, and 5.8 percent in 2024, up 0.6 percentage points, added AFP.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">According to the French news agency, central banks across the world have raised interest rates sharply in efforts to contain inflation.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">The move could have knock-on effects on growth, but the IMF warned central banks against easing the monetary tightening too soon, adding that it still expects the global economy to have a "soft landing" -- a slowdown that avoids recession.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => 'IMF, world, economy, shock, Covid, Russia, Ukraine, inflation, bank', 'description' => '', 'sortorder' => '18954', 'image' => '20231010064830_20231006125525_20220426051733_imf.jpg', 'article_date' => '2023-10-10 18:47:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19225', 'article_category_id' => '1', 'title' => 'NEPSE’s Fall Has No Rest in Sight', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 19.06 points or 0.99% and closed at 1889.59 points on the third trading day of the week, Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 10: The Nepal Stock Exchange(NEPSE) Index lost 19.06 points or 0.99% and closed at 1889.59 points on the third trading day of the week, Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investors and stock analysts attribute to the persistent decline in the market to the festive season. Furthermore, they argue that the policies implemented by Nepal Rastra Bank against the stock market have contributed to the bearish cycle seen in the NEPSE Index.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, a total of 282 scrips were traded through 44,069 transactions. Similarly, as many as 4,287,424 units of shares exchanged their hands, amounting to Rs 1.28 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sanima GIC Insurance had the highest turnover of Rs 20 crores, closing at a market price of Rs 499 per unit of share. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Upper Lohore Khola Hydropower Company Limited ( ULHC) </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">posted the highest gain of 5.86%, followed by Infinity Laghubitta Bittiya Sanstha(ILBS) with a gain of 4.19%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Barahi Hydropower Public Limited (BHPL) recorded the highest loss, with a drop of 7.64%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the red territory. Hydropower Index lost the highest 1.79% and Manufacturing and Processing lost the lowest 0.12% in today’s trading. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a loss of 0.94%, while Float Index and Sensitive Float Index dropped by 1.04 % and 1.03% respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18953', 'image' => '20231010041258_collage (18).jpg', 'article_date' => '2023-10-10 16:11:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '19224', 'article_category_id' => '1', 'title' => 'Things to Know about the Nobel Prizes ', 'sub_title' => '', 'summary' => 'October 10: The annual Nobel Prize announcements are over with the final award, for economics, going to Harvard professor Claudia Goldin for advancing the understanding of women’s labor market outcomes. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: The annual Nobel Prize announcements are over with the final award, for economics, going to Harvard professor Claudia Goldin for advancing the understanding of women’s labor market outcomes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The 2023 prize announcements started on October 2 with the Nobel Prize in medicine being awarded to two scientists whose discoveries enabled the development of mRNA vaccines against COVID-19. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The following day, three scientists won the physics prize for their work on how electrons zip around the atom in the tiniest fractions of seconds. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Three U.S.-based researchers shared the chemistry prize on Oct. 4 for their study of quantum dots — tiny particles that can release very bright colored light and are used in electronics and medical imaging. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On October 5, the Swedish Academy awarded Norwegian writer Jon Fosse the literature award for works that “give voice to the unsayable." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Imprisoned activist Narges Mohammadi won the Nobel Peace Prize the next day for her campaign against the oppression of women and for human rights in Iran. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The awards will be handed out on December 10. Here are some things to know about the Nobel Prizes: </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">AN IDEA MORE POWERFUL THAN DYNAMITE </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nobel Prizes were created by Alfred Nobel, a 19th-century businessman and chemist from Sweden. He held more than 300 patents but his claim to fame before the Nobel Prizes was having invented dynamite by mixing nitroglycerine with a compound that made the explosive more stable. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dynamite soon became popular in construction and mining as well as in the weapons industry. It made Nobel a very rich man. Perhaps it also made him think about his legacy, because toward the end of his life he decided to use his vast fortune to fund annual prizes “to those who, during the preceding year, have conferred the greatest benefit to humankind.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first Nobel Prizes were presented in 1901, five years after his death. In 1968, a sixth prize was created, for economics, by Sweden’s central bank. Though Nobel purists stress that the economics prize is technically not a Nobel Prize, it’s always presented together with the others. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">PEACE IN NORWAY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">For reasons that are not entirely clear, Nobel decided that the peace prize should be awarded in Norway and the other prizes in Sweden. Nobel historians suspect Sweden’s history of militarism may have been a factor. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During Nobel’s lifetime, Sweden and Norway were in a union, which the Norwegians reluctantly joined after the Swedes invaded their country in 1814. It’s possible that Nobel thought Norway would be a more suitable location for a prize meant to encourage “fellowship among nations.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">To this day, the Nobel Peace Prize is a completely Norwegian affair, with the winners selected and announced by a Norwegian committee. The peace prize even has its own ceremony in the Norwegian capital of Oslo on Dec. 10 — the anniversary of Nobel’s death while the other prizes are presented in Stockholm. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">WHAT’S POLITICS GOT TO DO WITH IT? </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nobel Prizes project an aura of being above the political fray, focused solely on the benefit of humanity. But the peace and literature awards, in particular, are sometimes accused of being politicized. Critics question whether winners are selected because their work is truly outstanding or because it aligns with the political preferences of the judges. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The scrutiny can get intense for high-profile awards, such as in 2009, when President Barack Obama won the peace prize less than a year after taking office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Norwegian Nobel Committee is an independent body that insists its only mission is to carry out the will of Alfred Nobel. However, it does have links to Norway's political system. The five members are appointed by the Norwegian Parliament, so the panel's composition reflects the power balance in the legislature. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">To avoid the perception that the prizes are influenced by Norway’s political leaders, sitting members of the Norwegian government or Parliament are barred from serving on the committee. Even so, the panel isn't always viewed as independent by foreign countries. When imprisoned Chinese dissident Liu Xiaobo won the peace prize in 2010, Beijing responded by freezing trade talks with Norway. It took years for Norway-China relations to be restored. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">GOLD AND GLORY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">One reason the prizes are so famous is they come with a generous amount of cash. The Nobel Foundation, which administers the awards, raised the prize money by 10% this year to 11 million kronor (about $1 million). In addition to the money, the winners receive an 18-carat gold medal and diploma when they collect their Nobel Prizes at the award ceremonies in December. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Most winners are proud and humbled by joining the pantheon of Nobel laureates, from Albert Einstein to Mother Teresa. But two winners refused their Nobel Prizes: French writer Jean-Paul Sartre, who turned down the literature prize in 1964, and Vietnamese politician Le Duc Tho, who declined the peace prize that he was meant to share with U.S. diplomat Henry Kissinger in 1973. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Several others were not able to receive their awards because they were imprisoned, such as Belarusian pro-democracy activist Ales Bialiatski, who shared last year’s peace prize with human rights groups in Ukraine and Russia. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">LACK OF DIVERSITY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Historically, the vast majority of Nobel Prize winners have been white men. Though that’s started to change, there is still little diversity among Nobel winners, particularly in the science categories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With Monday's announcement, 64 women have won Nobel Prizes, including 28 in the scientific categories. Only five women have won the physics award, and just three have won the economics prize. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Four women were among the 11 Nobel Prize winners this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the early days of the Nobel Prizes, the lack of diversity among winners could be explained by the lack of diversity among scientists in general. But today critics say the judges need to do a better job at highlighting discoveries made by women and scientists outside Europe and North America. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The prize committees say their decisions are based on scientific merit, not gender, nationality or race. However, they are not deaf to the criticism. Five years ago, the head of the Royal Swedish Academy of Sciences said it had started to ask nominating bodies to make sure they don’t overlook “women or people of other ethnicities or nationalities in their nominations.” – AP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18952', 'image' => '20231010023640_Untitled.jpg', 'article_date' => '2023-10-10 14:36:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19223', 'article_category_id' => '1', 'title' => 'Construction of Railway Track from Biratnagar to Kathari Doubtful', 'sub_title' => '', 'summary' => 'October 10: A section of the 18.6 km cargo broad gauge railway track from Bathnaha in India to Kathari Rural Municipality via Biratnagar has been completed. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 10: A section of the 18.6 km cargo broad gauge railway track from Bathnaha in India to Kathari Rural Municipality via Biratnagar has been completed. However, another section of the railway track remains incomplete due to the dispute over compensation. The construction company Ircon has returned back with its equipment after the locals obstructed its work.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the first section from Bathnaha to Biratnagar ICP measuring 8 km was completed and jointly inaugurated by Prime Ministers Narendra Modi and Pushpa Kamal Dahal on June 1. On the day of the inauguration, the cargo train carrying raw material of Aarati Strip came and returned. But even after 6 months of inauguration, not a single train has hit the tracks. Importing industrial raw materials by cargo train is expected to reduce the freight charge by at least 40 percent, but the cargo train is yet to operate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the second section, the work remains to be done in 10 kilometer stretch from Biratnagar customs to Ward No 1 of Kathari Rural Municipality. Although the infrastructure is ready for laying the track, the Indian company Ircon returned back with its equipment due to the compensation dispute.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ircon says that it cannot work according to the cost of the contract signed 12 years ago. According to Ircon, the equipment is taken back because the price of construction materials have increased and there are problems on the site. Deepak Kumar, manager of Ircon said that the land was not made available and the equipment was taken away as his company is also undertaking other contract works in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There was a bilateral agreement that the Nepalese side should acquire 119 bighas of land and let Ircon work for the construction of the railway track. The compensation determination committee at that time distributed compensation at the rate of Rs 200,000 per kattha of land. However, the owners of six-bigha land filed a case at the Supreme Court saying that they were not satisfied with the compensation provided by the government. The decision is still sub judice in the apex court.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Altogether 22 people including Bishwonath Majhi of Kathari 1 had filed a case in the Supreme Court saying that they were not satisfied with the compensation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the government did not provide land for the construction of the station yard, the work was halted, said Manoj Poddar, a sub-contractor. Ircon awarded the contract to SC Agarwal Company of Delhi for the construction of railway link. The said company has sub-contracted the work to Ready Construction of Biratnagar.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Manager of the Department of Railways Nirajan Kumar Jha said that the contract will be canceled if the construction work does not go ahead before Dashain. The contractor warned that the contract will be terminated if the land is not available before Dashain.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the 18.6 km long broad gauge railway from Bathnaha in India to Katahari in Nepal was started in 2011 at an estimated cost of about INR 4 billion by the Ircon Company. Construction should have been completed by 2017, but so far, only less than half of the work is done.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18951', 'image' => '20231010022833_1696902770.2023-10-10 07.37.20.jpg', 'article_date' => '2023-10-10 14:27:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19222', 'article_category_id' => '1', 'title' => 'Cargo Operators Must Comply with New VAT Law: Revenue Official', 'sub_title' => '', 'summary' => 'October 10: The Inland Revenue Office, Biratnagar, held a discussion with the transport entrepreneurs in order to clear the confusion caused by the Finance Act 2080, which mandates cargo operators with annual transactions more than Rs 5 million to be registered under Value Added Tax (VAT).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 10: The Inland Revenue Office, Biratnagar, held a discussion with the transport entrepreneurs in order to clear the confusion caused by the Finance Act 2080, which mandates cargo operators with annual transactions more than Rs 5 million to be registered under Value Added Tax (VAT).</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"">During the discussion, the businessmen complained that they were confused by the government’s decision to add and remove VAT on cargo from time to time.</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 government had implemented VAT on cargo in 2076. It was removed in 2078 and now has put it back. The transport entrepreneurs with transaction more than the amount specified by the Finance Act must register themselves under VAT keep clear details of transaction and also issue bills.</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"">Answering the questions raised during the discussion, Dr DB Chhetri, the chief tax officer of the office emphasized that everyone should follow the new policy introduced by the government. </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 event was attended by Meghraj Sigdel, deputy general secretary of the Truck Traders Federation, Shambhu Bhattarai, vice president of Biratnagar Transport Association Morang, General Secretary Khagendra Sigdel and other stakeholders.</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"">Dr Chhetri informed the businessmen about the change in the government's policy.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18950', 'image' => '20231010011212_20210107010829_1609973629.Clipboard16.jpg', 'article_date' => '2023-10-10 13:11:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19221', 'article_category_id' => '1', 'title' => 'More than Half of the Remittances are Spent on Consumable Goods', 'sub_title' => '', 'summary' => 'October 10: Although the government has adopted a policy to encourage the use of income from remittances in productive sector, it has been found that more than half of the amount is spent on daily consumption.', '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 10: Although the government has adopted a policy to encourage the use of income from remittances in productive sector, it has been found that more than half of the amount is spent on daily consumption.</span></span></span></span></p> <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"">A study titled 'Impact of Foreign Employment on the Economic and Social Sectors in Lumbini Province' conducted by Nepal Rastra Bank has shown that most of the money received from remittances is spent on daily consumer goods, education, health, entertainment and other unproductive areas. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank prepared the report based on a study and on-site survey of 383 families whose members have gone for foreign employment from five districts of Lumbini Province including Gulmi, Arghakhanchi, Palpa, Rupandehi and Rolpa.</span></span></span></span></p> <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 study revealed the fact that 58.78 percent of the money earned from foreign employment is spent on daily consumption, 22.48 percent on education and health, 10.07 percent on debt repayment and 8.67 percent on entertainment. </span></span></span></span></p> <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"">Due to the increase in the expenses of the families of people who have gone for foreign employment, the remittance income has been spent on consumption. </span></span></span></span></p> <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"">Among the surveyed families, the daily consumption expenditure of 96.61 percent has increased compared to the period before going to foreign employment. Likewise, 96.08 percent of the families’ expenditure on festivals, entertainment and social expenses have also increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The study found that the families who receive remittances invested in trade, business, housing and jewelry. Around 68.21 percent of families invested in business, 65.80 percent in housing and 63.19 percent in jewelry.</span></span></span></span></p> <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"">Altogether 88.25 percent of the families involved in foreign employment included in the study said that their savings have increased. Among those families, 13.05 percent said that the arable land has increased, 51.44 percent said that the arable land has remained the same and 35.51 percent said that the arable land has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although most of the people use non-banking channels to manage the money required for foreign employment, financial access has increased due to remittance income. Only 15.10 percent of the workers going for foreign employment said that they managed the expenses incurred while going to work abroad from banks and financial institutions. The study showed that 84.90 percent manage their expenses by taking personal loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that 86 percent of families employed abroad use electronic means and checks for financial transactions and 14 percent use cash. After going to foreign employment, the savings account of the family members increased by 39.58 percent and the loan account increased by 130.65 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Similarly, the study report mentions that the number of families without any bank account before going abroad was 37.08 percent, which dropped to 0.52 percent after going abroad.</span></span></span></span></p> <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"">It has been found that most of the people who go for foreign employment have poor formal education and do not take skill-related training. The study found that 40.73 percent of people who go for foreign employment have completed basic education, 13.32 percent have completed secondary-level education and 2.87 percent have studied up to master's degree or above. </span></span></span></span></p> <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"">Among those engaged in foreign employment, 76 percent do not take skill-related training and 24 percent take such training.</span></span></span></span></p> <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"">Access to education, health and communication, the social status of the family, and harmony in the family have also been highlighted by the study.</span></span></span></span></p> <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 the data of Nepal Rastra Bank, the dependent families received Rs 543. 29 billion in remittance in the fiscal year 2070/71, which increased to 1220.55 billion in FY 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After the increase in income from remittances, the government started the 'Foreign Employment Savings’ scheme with the aim of attracting common people who are employed abroad to save. However, the general public has not been attracted to the scheme.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18949', 'image' => '20231010122137_Remittance.jpg', 'article_date' => '2023-10-10 12:20:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19220', 'article_category_id' => '1', 'title' => 'Parliamentarians Demand Prompt Rescue of Nepalis Trapped in Israel ', 'sub_title' => '', 'summary' => 'October 10: Parliamentarians in during Monday’s meeting of the House of Representatives (HoR) demanded for prompt rescue of the Nepalis trapped in Israel. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: Parliamentarians in during Monday’s meeting of the House of Representatives (HoR) demanded for prompt rescue of the Nepalis trapped in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also demanded that the bodies of those killed in the recent attack by Hamas militants be brought home as early as possible while the injured and the stranded who wish to return back be airlifted. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the House meeting, Nepali Congress MP Arjun Narsingh KC drew the attention of the government to bring the dead bodies of 10 Nepalis who lost their lives in the attack and to provide treatment to the injured ones. He also called for the government to make public the details of the number of Nepalis in Israel and their condition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CPN (UML)'s Gokul Prasad Banskota urged the government for prompt rescue of the Nepalis in Israel waiting to be rescued. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's Ishwar Bahadur Rijal also viewed that the government should immediately rescue those willing to come home from Israel and ensure medical facilities to the injured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other parliamentarians including Chitra Bahadur KC, Anjani Shrestha, Anisha Nepali, Abdul Khan, Amanlal Modi, Amar Bahadur Raymajhi, Amrit Lal Rajbanshi, Ishwari Gharti, Urmila Majhi, Kiran Kumar Shah and Geeta Basnet also demanded for a prompt rescue of the Nepalis in Israel. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18948', 'image' => '20231010111951_Parliament RSS 800.jpg', 'article_date' => '2023-10-10 11:18:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19218', 'article_category_id' => '1', 'title' => 'World Record-Holder Sherpa Missing in Avalanche ', 'sub_title' => '', 'summary' => 'October 10: World record-holder climber and mountain guide Tenzen Sherpa (Lama) has gone missing in an avalanche Mt Shishapangma (8,027 meters) of Tibet, China. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: World record-holder climber and mountain guide Tenzen Sherpa (Lama) has gone missing in an avalanche Mt Shishapangma (8,027 meters) of Tibet, China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">American national Gina Marie Rzucidlo is also missing along with Sherpa in the avalanche that occurred on Saturday in Shishapangma, one of the world's 14th tallest peaks, according to the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press release on Monday, the ministry said that whereabouts of both the climbers is still unknown. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the ministry informed that Karma Gyalzen Sherpa, Mitra Bahadur Tamang and Kami Rita Sherpa have been critically injured in the avalanche. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has been making necessary efforts to carry out a search for the missing ones while some of the climbers were rescued and are receiving treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement said that the ministry and the entire mountaineering sector is shocked from the news about the missing of the renowned world record keeper and climber Sherpa and the American climber. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, guide Mingmar Sherpa and US national Anna Gutu were found dead in the avalanche that occurred on the same day. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18947', 'image' => '20231010104941_sisa.jpg', 'article_date' => '2023-10-10 10:49:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19219', 'article_category_id' => '1', 'title' => 'Israeli Army Claims Re-control of Southern Communities ', 'sub_title' => '', 'summary' => 'October 10: The Israeli military has said that it had regained control of all Israeli towns near the Gaza border, in the third day of battles to repel Hamas militants from southern Israel. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: The Israeli military has said that it had regained control of all Israeli towns near the Gaza border, in the third day of battles to repel Hamas militants from southern Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The control over the communities adjacent to the Gaza Strip has been regained," IDF (Israel Defense Forces) Spokesman Daniel Hagari told reporters, adding but militants could still be in the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Hagari said that tanks and aircraft would secure breaches in the security fence between Israel and Gaza, which Hamas fighters tore down on Saturday as they stormed communities in southern Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel has called for a large-scale mobilization of reserve forces, with more than 300,000 reserve soldiers reporting within hours, said Hagari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Saturday morning, Hamas militants broke through the fence from Gaza while militants in Gaza launched about 3,000 rockets at central and southern Israel. Israel responded with intensive airstrikes in Gaza. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israeli officials reported that at least 700 people were killed in Israel and more than 2,300 others injured. Militant groups in Gaza claimed that about 130 individuals were taken hostage during the attack. Meanwhile, the Palestinian Health Ministry in Gaza reported that at least 493 Palestinians were killed, including 78 minors. -- Xinhua/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18946', 'image' => '20231010111154_AP23281412627233.jpg', 'article_date' => '2023-10-10 11:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19217', 'article_category_id' => '1', 'title' => 'Claudia Goldin Wins Nobel Economics Prize for Work on Gender Gap', 'sub_title' => '', 'summary' => 'Harvard economic historian Claudia Goldin won the 2023 Nobel economics prize for her work exposing the causes of deeply rooted wage and labour market inequality between men and women, the Royal Swedish Academy of Sciences said on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 10: Harvard economic historian Claudia Goldin won the 2023 Nobel economics prize for her work exposing the causes of deeply rooted wage and labour market inequality between men and women, the Royal Swedish Academy of Sciences said on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The prestigious award, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is the last of this year's crop of Nobel prizes and is worth 11 million Swedish crowns, or nearly $1 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"This year's Laureate in the Economic Sciences, Claudia Goldin, provided the first comprehensive account of women's earnings and labour market participation through the centuries," the prize-giving body said in a statement. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Her research reveals the causes of change, as well as the main sources of the remaining gender gap."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The award for economics is the final instalment of this year's crop of Nobels that have seen prizes go to COVID-19 vaccine discoveries, atomic snapshots and "quantum dots" as well as to a Norwegian dramatist and an Iranian activist.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Goldin, who in 1990 became the first woman to be tenured at Harvard's economics department, is only the third woman to win the Nobel economics prize, and the first to win it by herself rather than sharing it. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She hailed the decision as "an award for big ideas and for long-term change."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"There are still large differences between women and men in terms of what they do, how they're remunerated and so on," Goldin told Reuters at her home in Cambridge, Massachusetts. "And the question is, why is this the case? And that's what the work is about."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Goldin's 1990 book "Understanding the Gender Gap: An Economic History of American Women" was a hugely influential examination of the roots of wage inequality over 200 years of history.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She has followed up with studies on the impact of the contraceptive pill on women's career and marriage decisions, women's surnames after marriage as a social indicator and the reasons why women are now the majority of undergraduates.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She said at a press conference at Harvard that women had throughout history often been "hidden from view and uncompensated" for doing the same labour that men were paid for.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"They have over time left that arena of home or family farm or family business and moved to the broader arena of market production," she said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"They've become workers, they've begun earning a living for themselves and for their families. Their lives have greatly changed, but the labour market and the policies of governments are often slower to respond."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Randi Hjalmarsson, a member of the Economic Prize committee, said Goldin's discoveries "have vast societal implications." </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hjalmarsson quoted Goldin's own words: "By finally understanding the problem and calling it by the right name, we will be able to pave a better route forward." (Agencies) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18945', 'image' => '20231010060242_collage (4).jpg', 'article_date' => '2023-10-10 06:00:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '19216', 'article_category_id' => '1', 'title' => '‘Government’s Wrong Policies in the Real Estate Sector Put the Entire Economy in Crisis’', 'sub_title' => '', 'summary' => 'October 9: The real estate entrepreneurs have said that the country's economy is in crisis due to the wrong policy taken by the government in the field of real estate and housing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">October 9: The real estate entrepreneurs have said that the country's economy is in crisis due to the wrong policy taken by the government in the field of real estate and housing. The businessmen said this while speaking at the 'Real Estate Entrepreneurs’ Gathering-2080' organized by the Nepal Real Estate and Housing Development Federation in Kathmandu.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the meeting, Nepal Chamber of Commerce President Rajendra Malla said that all stakeholders should join hands to convert the real estate business into an industry and Nepal Chamber of Commerce will fully support this initiative.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the businessmen are currently in as state of panic because of the flawed lens with which the government has been viewing this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kush Kumar Joshi, the former president of the Federation of Nepalese Chamber of Commerce and Industry said that there is no respect for businessmen and that businessmen viewed as profit-making individuals. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that peaceful demonstration to ensure the rights of businessmen alone is not enough. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'In a country built on movement, nothing will be heard without movement. I do not know which part of the state the businessmen belong to. Where is the taxpayers’ right? Did we lag behind because we did not hit the streets like the teachers did recently?,' he questioned.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Joshi said that the policy that keeps changing from time to time cannot work reliably, and he said that a long-term policy should be introduced. "It should be clear who will pay for the damage caused by this changing policy," said Joshi. He said that the current problem in Nepal's economy is not because of foreign wars but because of the frequent change of governments.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Adviser of Nepal Land and Housing Development Federation, Ichha Bahadur Wagle said that banks and financial sector have gone too far by increasing interest rates. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Banks give 12 percent interest to those who do nothing but eat and sleep,” said Wagle, adding sarcastically that those who toil hard have to pay a 16 percent interest rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chandra Prasad Dhakal, President of Federation of Nepal Chamber of Commerce and Industry, said that it is necessary to increase the confidence of consumers to bring the economy on the right track. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government and the private sector should work together to create a situation to increase the demand in the market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The district coordinators and presidents of the federation who came from all over the country criticized the current governor as the main culprit for the current situation. They said that the leadership should take the initiative, saying that they are ready even if they have to start a street protest. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The president of the federation, Bhesraj Lohani, said that there is still a lot to be done about land pooling, and he said that he would move forward after taking everyone's suggestions into account. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18944', 'image' => '20231009051620_Real estate.jpg', 'article_date' => '2023-10-09 17:15:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19215', 'article_category_id' => '1', 'title' => 'NEPSE Index Continues Its Downward Trend; Turnover Amount Shrinks', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 12.58 points or 0.65% and closed at 1908.66 points on the second trading day of the week, Monday. The Index lost 35.67 points yesterday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 9: The Nepal Stock Exchange(NEPSE) Index lost 12.58 points or 0.65% and closed at 1908.66 points on the second trading day of the week, Monday. The Index lost 35.67 points yesterday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and stock analysts point to Nepal Rastra Bank's strict stock market policies and the festive season as the reasons behind NEPSE's ongoing downward trend.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experts emphasize that the market won't rebound until NRB revises its policies, specifically by removing the upper cap on margin lending and adjusting the risk weightage ratio from 150 to 100.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One investor stated, “The stock market needs a policy shift to regain momentum.” </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, as many as 287 different stocks were traded in the NEPSE. Likewise, 4,327,179 units of shares exchanged their hands through 48,444 transactions, amounting to Rs 1.17 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nabil Bank Limited (NABIL) had the highest turnover, reaching Rs. 3.51 crores, and closed at a market price of Rs. 571.80.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Sayapatri Hydropower Limited (SPHL) posted the highest gain of 6.88%, followed by Three Star Hydropower Limited (TSHL) with a gain of 4.46%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Barahi Hydropower Public Limited (BHPL) and Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL) hit the negative circuit today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices except Manufacturing and Processing and Trading Index closed in the red territory.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> "Trading Index" gained the highest 0.29% while "Life Insurance Index" lost the highest 1% today. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a loss of 0.77%, while Float Index and Sensitive Float Index dropped by 0.70% and 0.92% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18943', 'image' => '20231009044029_collage (17).jpg', 'article_date' => '2023-10-09 16:36:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">October 11: China announced Tuesday its Belt and Road Initiative infrastructure project had generated two trillion dollars in contracts around the world, equivalent in size to some of the world's biggest economies. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">A white paper from China's State Council also said countries participating in the initiative owe more than $300 billion to the Export-Import Bank of China (Eximbank), a figure one expert said was likely understated but which lays bare the huge debts incurred in the global infrastructure initiative. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China is hailing this month the 10th anniversary of its Belt and Road Initiative (BRI), which has seen Beijing pour a trillion dollars into projects around the world in a defining geopolitical project for President Xi Jinping. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">But critics have long accused China of luring lower-income countries into debt traps by offering huge, unaffordable loans. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing said Tuesday the value of signed construction contracts with partners now totalled two trillion dollars -- roughly the size of the economy of Russia or Canada. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">And "the actual turnover of Chinese contractors reached $1.3 trillion", it said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It also said the balance of loans for BRI projects from Eximbank -- a key BRI creditor -- now totalled 2.2 trillion yuan ($307.4 billion). </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">That total covers "130-plus participating countries and driving more than $400 billion of investment and more than $2 trillion of trade", the white paper said, suggesting an average of $2.4 billion in debts per country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The paper did not detail which countries owe the most, nor the kind of interest rates they are expected to pay. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">One expert told AFP the figure, while large, was likely "vastly underestimated". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"There have been other academic research papers that have written on these hidden debts that could add up to $800 billion," Niva Yau, a non-resident fellow with the Atlantic Council's Global China Hub, said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We simply don't have information about these projects and how these figures have added up," she said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">'Real gains' </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Exim Bank has financed major transport and energy projects across the BRI and has been linked to foreign loan plans everywhere from Africa to Central Asia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing's Silk Road Fund -- established to help fund BRI projects -- in turn has "signed agreements on 75 projects with committed investment of about $22 billion", the white paper said. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China's State Council hailed the BRI on Tuesday as having "delivered real gains to participating countries". </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">However, many of its partners are increasingly wary about the cost involved. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Italy, the only one of the group of leading developed democracies to sign up to the investment scheme, said last month it was considering opting out of the deal. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Beijing is due to host the third Belt and Road Forum for International Cooperation this month, with Russian President Vladimir Putin set to attend in his first visit to China since his invasion of Ukraine. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">China is yet to confirm when the forum will take place. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"We welcome countries and partners actively participating in the Belt and Road Initiative to come to Beijing to discuss cooperation plans and seek common development," foreign ministry spokesperson Mao Ning said last month. – AFP/RSS </span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18957', 'image' => '20231011113404_20201117123742_88500034 2.jpg', 'article_date' => '2023-10-11 11:33:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19228', 'article_category_id' => '1', 'title' => 'Nepali Students relocated to Secure Places from Gaza Strip', 'sub_title' => '', 'summary' => 'October 11: All 55 Nepali students working in an agriculture farm along the Israel-Gaza border have been relocated to secure places. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 11: All 55 Nepali students working in an agriculture farm along the Israel-Gaza border have been relocated to secure places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Nepali Embassy in Tel Aviv, 72 Nepali nationals who were awaiting rescue from the northern border of Israel have also been shifted to safer areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy also shared that four Nepalis who sustained injuries in Saturday’s attack are witnessing gradual improvement in their health while the search for a missing Nepali is currently underway with the help of all available local and diplomatic mechanisms, including police and hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Authorities said that over 350 Nepalis eager to return home have so far registered their names at the Nepali Embassy. The process for their safe return has already been initiated, according to the embassy officials. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18956', 'image' => '20231011110012_AP23282506358002 (1).jpg', 'article_date' => '2023-10-11 10:59:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19227', 'article_category_id' => '1', 'title' => 'Kaligandaki Transmission Corridor Project Completed', 'sub_title' => '', 'summary' => 'The construction of the Kaligandaki Corridor transmission line has reached its completion. This 220-kV double-circuit transmission line is expected to play a crucial role in enhancing the national electricity grid system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 11: The construction of the Kaligandaki Corridor transmission line has reached its completion. This 220-kV double-circuit transmission line is expected to play a crucial role in enhancing the national electricity grid system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The transmission line starts at the Dana substation in Annapurna rural municipality-3, Myagdi, and spans an impressive 88 kilometers to reach the New Butwal Substation in Sunwal, Nawalparasi. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In 2017, the contract for the construction of this 88-kilometer transmission line, known as the Kushma-New Butwal Transmission Line, was signed with the Indian company L&T. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The project's estimated cost stands at approximately Rs 11 billion, and it was jointly implemented by the government and the Nepal Electricity Authority, with support from the South Asia Subregional Economic Cooperation (SASEC) under the Asian Development Bank. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kulman Ghising, the managing director of the Nepal Electricity Authority (NEA), expressed hope that the operation of this transmission line will significantly enhance the reliability of the integrated electricity supply system and address voltage-related issues in the Nawalparasi and Rupandehi areas. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-10-11', 'modified' => '2023-10-11', 'keywords' => '', 'description' => '', 'sortorder' => '18955', 'image' => '20231011053126_collage (5).jpg', 'article_date' => '2023-10-11 05:29:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '19226', 'article_category_id' => '1', 'title' => 'IMF says World Economy Resilient to Shocks but still 'Limping'', 'sub_title' => '', 'summary' => 'October 10: The International Monetary Fund (IMF) kept its 2023 global growth forecast unchanged on Tuesday but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">October 10: The International Monetary Fund (IMF) kept its 2023 global growth forecast unchanged on Tuesday but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, the IMF's updated World Economic Outlook still sees growth of 3.0 percent for this year but it cut its forecast for 2024 to 2.9 percent, down 0.1 percentage points from its July report.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">"The economy continues to recover from the pandemic and Russia's invasion of Ukraine, showing remarkable resilience," AFP quoted IMF's chief economist Pierre-Olivier Gourinchas as saying.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">"Yet growth remains slow and uneven. The global economy is limping along, not sprinting," he said at a news conference during the institution's annual meetings in Marrakesh, Morocco.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">Inflation, which has fallen sharply since last year, is predicted to remain elevated at 6.9 percent this year, up slightly from July, and 5.8 percent in 2024, up 0.6 percentage points, added AFP.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">According to the French news agency, central banks across the world have raised interest rates sharply in efforts to contain inflation.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Verdana","sans-serif"">The move could have knock-on effects on growth, but the IMF warned central banks against easing the monetary tightening too soon, adding that it still expects the global economy to have a "soft landing" -- a slowdown that avoids recession.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => 'IMF, world, economy, shock, Covid, Russia, Ukraine, inflation, bank', 'description' => '', 'sortorder' => '18954', 'image' => '20231010064830_20231006125525_20220426051733_imf.jpg', 'article_date' => '2023-10-10 18:47:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19225', 'article_category_id' => '1', 'title' => 'NEPSE’s Fall Has No Rest in Sight', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 19.06 points or 0.99% and closed at 1889.59 points on the third trading day of the week, Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 10: The Nepal Stock Exchange(NEPSE) Index lost 19.06 points or 0.99% and closed at 1889.59 points on the third trading day of the week, Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investors and stock analysts attribute to the persistent decline in the market to the festive season. Furthermore, they argue that the policies implemented by Nepal Rastra Bank against the stock market have contributed to the bearish cycle seen in the NEPSE Index.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, a total of 282 scrips were traded through 44,069 transactions. Similarly, as many as 4,287,424 units of shares exchanged their hands, amounting to Rs 1.28 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sanima GIC Insurance had the highest turnover of Rs 20 crores, closing at a market price of Rs 499 per unit of share. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Upper Lohore Khola Hydropower Company Limited ( ULHC) </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">posted the highest gain of 5.86%, followed by Infinity Laghubitta Bittiya Sanstha(ILBS) with a gain of 4.19%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Barahi Hydropower Public Limited (BHPL) recorded the highest loss, with a drop of 7.64%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the red territory. Hydropower Index lost the highest 1.79% and Manufacturing and Processing lost the lowest 0.12% in today’s trading. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a loss of 0.94%, while Float Index and Sensitive Float Index dropped by 1.04 % and 1.03% respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18953', 'image' => '20231010041258_collage (18).jpg', 'article_date' => '2023-10-10 16:11:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '19224', 'article_category_id' => '1', 'title' => 'Things to Know about the Nobel Prizes ', 'sub_title' => '', 'summary' => 'October 10: The annual Nobel Prize announcements are over with the final award, for economics, going to Harvard professor Claudia Goldin for advancing the understanding of women’s labor market outcomes. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: The annual Nobel Prize announcements are over with the final award, for economics, going to Harvard professor Claudia Goldin for advancing the understanding of women’s labor market outcomes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The 2023 prize announcements started on October 2 with the Nobel Prize in medicine being awarded to two scientists whose discoveries enabled the development of mRNA vaccines against COVID-19. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The following day, three scientists won the physics prize for their work on how electrons zip around the atom in the tiniest fractions of seconds. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Three U.S.-based researchers shared the chemistry prize on Oct. 4 for their study of quantum dots — tiny particles that can release very bright colored light and are used in electronics and medical imaging. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On October 5, the Swedish Academy awarded Norwegian writer Jon Fosse the literature award for works that “give voice to the unsayable." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Imprisoned activist Narges Mohammadi won the Nobel Peace Prize the next day for her campaign against the oppression of women and for human rights in Iran. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The awards will be handed out on December 10. Here are some things to know about the Nobel Prizes: </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">AN IDEA MORE POWERFUL THAN DYNAMITE </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nobel Prizes were created by Alfred Nobel, a 19th-century businessman and chemist from Sweden. He held more than 300 patents but his claim to fame before the Nobel Prizes was having invented dynamite by mixing nitroglycerine with a compound that made the explosive more stable. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dynamite soon became popular in construction and mining as well as in the weapons industry. It made Nobel a very rich man. Perhaps it also made him think about his legacy, because toward the end of his life he decided to use his vast fortune to fund annual prizes “to those who, during the preceding year, have conferred the greatest benefit to humankind.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first Nobel Prizes were presented in 1901, five years after his death. In 1968, a sixth prize was created, for economics, by Sweden’s central bank. Though Nobel purists stress that the economics prize is technically not a Nobel Prize, it’s always presented together with the others. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">PEACE IN NORWAY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">For reasons that are not entirely clear, Nobel decided that the peace prize should be awarded in Norway and the other prizes in Sweden. Nobel historians suspect Sweden’s history of militarism may have been a factor. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During Nobel’s lifetime, Sweden and Norway were in a union, which the Norwegians reluctantly joined after the Swedes invaded their country in 1814. It’s possible that Nobel thought Norway would be a more suitable location for a prize meant to encourage “fellowship among nations.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">To this day, the Nobel Peace Prize is a completely Norwegian affair, with the winners selected and announced by a Norwegian committee. The peace prize even has its own ceremony in the Norwegian capital of Oslo on Dec. 10 — the anniversary of Nobel’s death while the other prizes are presented in Stockholm. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">WHAT’S POLITICS GOT TO DO WITH IT? </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nobel Prizes project an aura of being above the political fray, focused solely on the benefit of humanity. But the peace and literature awards, in particular, are sometimes accused of being politicized. Critics question whether winners are selected because their work is truly outstanding or because it aligns with the political preferences of the judges. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The scrutiny can get intense for high-profile awards, such as in 2009, when President Barack Obama won the peace prize less than a year after taking office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Norwegian Nobel Committee is an independent body that insists its only mission is to carry out the will of Alfred Nobel. However, it does have links to Norway's political system. The five members are appointed by the Norwegian Parliament, so the panel's composition reflects the power balance in the legislature. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">To avoid the perception that the prizes are influenced by Norway’s political leaders, sitting members of the Norwegian government or Parliament are barred from serving on the committee. Even so, the panel isn't always viewed as independent by foreign countries. When imprisoned Chinese dissident Liu Xiaobo won the peace prize in 2010, Beijing responded by freezing trade talks with Norway. It took years for Norway-China relations to be restored. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">GOLD AND GLORY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">One reason the prizes are so famous is they come with a generous amount of cash. The Nobel Foundation, which administers the awards, raised the prize money by 10% this year to 11 million kronor (about $1 million). In addition to the money, the winners receive an 18-carat gold medal and diploma when they collect their Nobel Prizes at the award ceremonies in December. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Most winners are proud and humbled by joining the pantheon of Nobel laureates, from Albert Einstein to Mother Teresa. But two winners refused their Nobel Prizes: French writer Jean-Paul Sartre, who turned down the literature prize in 1964, and Vietnamese politician Le Duc Tho, who declined the peace prize that he was meant to share with U.S. diplomat Henry Kissinger in 1973. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Several others were not able to receive their awards because they were imprisoned, such as Belarusian pro-democracy activist Ales Bialiatski, who shared last year’s peace prize with human rights groups in Ukraine and Russia. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">LACK OF DIVERSITY </span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Historically, the vast majority of Nobel Prize winners have been white men. Though that’s started to change, there is still little diversity among Nobel winners, particularly in the science categories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With Monday's announcement, 64 women have won Nobel Prizes, including 28 in the scientific categories. Only five women have won the physics award, and just three have won the economics prize. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Four women were among the 11 Nobel Prize winners this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the early days of the Nobel Prizes, the lack of diversity among winners could be explained by the lack of diversity among scientists in general. But today critics say the judges need to do a better job at highlighting discoveries made by women and scientists outside Europe and North America. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The prize committees say their decisions are based on scientific merit, not gender, nationality or race. However, they are not deaf to the criticism. Five years ago, the head of the Royal Swedish Academy of Sciences said it had started to ask nominating bodies to make sure they don’t overlook “women or people of other ethnicities or nationalities in their nominations.” – AP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18952', 'image' => '20231010023640_Untitled.jpg', 'article_date' => '2023-10-10 14:36:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19223', 'article_category_id' => '1', 'title' => 'Construction of Railway Track from Biratnagar to Kathari Doubtful', 'sub_title' => '', 'summary' => 'October 10: A section of the 18.6 km cargo broad gauge railway track from Bathnaha in India to Kathari Rural Municipality via Biratnagar has been completed. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 10: A section of the 18.6 km cargo broad gauge railway track from Bathnaha in India to Kathari Rural Municipality via Biratnagar has been completed. However, another section of the railway track remains incomplete due to the dispute over compensation. The construction company Ircon has returned back with its equipment after the locals obstructed its work.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the first section from Bathnaha to Biratnagar ICP measuring 8 km was completed and jointly inaugurated by Prime Ministers Narendra Modi and Pushpa Kamal Dahal on June 1. On the day of the inauguration, the cargo train carrying raw material of Aarati Strip came and returned. But even after 6 months of inauguration, not a single train has hit the tracks. Importing industrial raw materials by cargo train is expected to reduce the freight charge by at least 40 percent, but the cargo train is yet to operate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the second section, the work remains to be done in 10 kilometer stretch from Biratnagar customs to Ward No 1 of Kathari Rural Municipality. Although the infrastructure is ready for laying the track, the Indian company Ircon returned back with its equipment due to the compensation dispute.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ircon says that it cannot work according to the cost of the contract signed 12 years ago. According to Ircon, the equipment is taken back because the price of construction materials have increased and there are problems on the site. Deepak Kumar, manager of Ircon said that the land was not made available and the equipment was taken away as his company is also undertaking other contract works in India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There was a bilateral agreement that the Nepalese side should acquire 119 bighas of land and let Ircon work for the construction of the railway track. The compensation determination committee at that time distributed compensation at the rate of Rs 200,000 per kattha of land. However, the owners of six-bigha land filed a case at the Supreme Court saying that they were not satisfied with the compensation provided by the government. The decision is still sub judice in the apex court.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Altogether 22 people including Bishwonath Majhi of Kathari 1 had filed a case in the Supreme Court saying that they were not satisfied with the compensation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the government did not provide land for the construction of the station yard, the work was halted, said Manoj Poddar, a sub-contractor. Ircon awarded the contract to SC Agarwal Company of Delhi for the construction of railway link. The said company has sub-contracted the work to Ready Construction of Biratnagar.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Manager of the Department of Railways Nirajan Kumar Jha said that the contract will be canceled if the construction work does not go ahead before Dashain. The contractor warned that the contract will be terminated if the land is not available before Dashain.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the 18.6 km long broad gauge railway from Bathnaha in India to Katahari in Nepal was started in 2011 at an estimated cost of about INR 4 billion by the Ircon Company. Construction should have been completed by 2017, but so far, only less than half of the work is done.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18951', 'image' => '20231010022833_1696902770.2023-10-10 07.37.20.jpg', 'article_date' => '2023-10-10 14:27:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19222', 'article_category_id' => '1', 'title' => 'Cargo Operators Must Comply with New VAT Law: Revenue Official', 'sub_title' => '', 'summary' => 'October 10: The Inland Revenue Office, Biratnagar, held a discussion with the transport entrepreneurs in order to clear the confusion caused by the Finance Act 2080, which mandates cargo operators with annual transactions more than Rs 5 million to be registered under Value Added Tax (VAT).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 10: The Inland Revenue Office, Biratnagar, held a discussion with the transport entrepreneurs in order to clear the confusion caused by the Finance Act 2080, which mandates cargo operators with annual transactions more than Rs 5 million to be registered under Value Added Tax (VAT).</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"">During the discussion, the businessmen complained that they were confused by the government’s decision to add and remove VAT on cargo from time to time.</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 government had implemented VAT on cargo in 2076. It was removed in 2078 and now has put it back. The transport entrepreneurs with transaction more than the amount specified by the Finance Act must register themselves under VAT keep clear details of transaction and also issue bills.</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"">Answering the questions raised during the discussion, Dr DB Chhetri, the chief tax officer of the office emphasized that everyone should follow the new policy introduced by the government. </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 event was attended by Meghraj Sigdel, deputy general secretary of the Truck Traders Federation, Shambhu Bhattarai, vice president of Biratnagar Transport Association Morang, General Secretary Khagendra Sigdel and other stakeholders.</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"">Dr Chhetri informed the businessmen about the change in the government's policy.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18950', 'image' => '20231010011212_20210107010829_1609973629.Clipboard16.jpg', 'article_date' => '2023-10-10 13:11:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19221', 'article_category_id' => '1', 'title' => 'More than Half of the Remittances are Spent on Consumable Goods', 'sub_title' => '', 'summary' => 'October 10: Although the government has adopted a policy to encourage the use of income from remittances in productive sector, it has been found that more than half of the amount is spent on daily consumption.', '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 10: Although the government has adopted a policy to encourage the use of income from remittances in productive sector, it has been found that more than half of the amount is spent on daily consumption.</span></span></span></span></p> <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"">A study titled 'Impact of Foreign Employment on the Economic and Social Sectors in Lumbini Province' conducted by Nepal Rastra Bank has shown that most of the money received from remittances is spent on daily consumer goods, education, health, entertainment and other unproductive areas. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank prepared the report based on a study and on-site survey of 383 families whose members have gone for foreign employment from five districts of Lumbini Province including Gulmi, Arghakhanchi, Palpa, Rupandehi and Rolpa.</span></span></span></span></p> <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 study revealed the fact that 58.78 percent of the money earned from foreign employment is spent on daily consumption, 22.48 percent on education and health, 10.07 percent on debt repayment and 8.67 percent on entertainment. </span></span></span></span></p> <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"">Due to the increase in the expenses of the families of people who have gone for foreign employment, the remittance income has been spent on consumption. </span></span></span></span></p> <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"">Among the surveyed families, the daily consumption expenditure of 96.61 percent has increased compared to the period before going to foreign employment. Likewise, 96.08 percent of the families’ expenditure on festivals, entertainment and social expenses have also increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The study found that the families who receive remittances invested in trade, business, housing and jewelry. Around 68.21 percent of families invested in business, 65.80 percent in housing and 63.19 percent in jewelry.</span></span></span></span></p> <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"">Altogether 88.25 percent of the families involved in foreign employment included in the study said that their savings have increased. Among those families, 13.05 percent said that the arable land has increased, 51.44 percent said that the arable land has remained the same and 35.51 percent said that the arable land has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although most of the people use non-banking channels to manage the money required for foreign employment, financial access has increased due to remittance income. Only 15.10 percent of the workers going for foreign employment said that they managed the expenses incurred while going to work abroad from banks and financial institutions. The study showed that 84.90 percent manage their expenses by taking personal loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that 86 percent of families employed abroad use electronic means and checks for financial transactions and 14 percent use cash. After going to foreign employment, the savings account of the family members increased by 39.58 percent and the loan account increased by 130.65 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Similarly, the study report mentions that the number of families without any bank account before going abroad was 37.08 percent, which dropped to 0.52 percent after going abroad.</span></span></span></span></p> <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"">It has been found that most of the people who go for foreign employment have poor formal education and do not take skill-related training. The study found that 40.73 percent of people who go for foreign employment have completed basic education, 13.32 percent have completed secondary-level education and 2.87 percent have studied up to master's degree or above. </span></span></span></span></p> <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"">Among those engaged in foreign employment, 76 percent do not take skill-related training and 24 percent take such training.</span></span></span></span></p> <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"">Access to education, health and communication, the social status of the family, and harmony in the family have also been highlighted by the study.</span></span></span></span></p> <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 the data of Nepal Rastra Bank, the dependent families received Rs 543. 29 billion in remittance in the fiscal year 2070/71, which increased to 1220.55 billion in FY 2079/80.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After the increase in income from remittances, the government started the 'Foreign Employment Savings’ scheme with the aim of attracting common people who are employed abroad to save. However, the general public has not been attracted to the scheme.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18949', 'image' => '20231010122137_Remittance.jpg', 'article_date' => '2023-10-10 12:20:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19220', 'article_category_id' => '1', 'title' => 'Parliamentarians Demand Prompt Rescue of Nepalis Trapped in Israel ', 'sub_title' => '', 'summary' => 'October 10: Parliamentarians in during Monday’s meeting of the House of Representatives (HoR) demanded for prompt rescue of the Nepalis trapped in Israel. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: Parliamentarians in during Monday’s meeting of the House of Representatives (HoR) demanded for prompt rescue of the Nepalis trapped in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also demanded that the bodies of those killed in the recent attack by Hamas militants be brought home as early as possible while the injured and the stranded who wish to return back be airlifted. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the House meeting, Nepali Congress MP Arjun Narsingh KC drew the attention of the government to bring the dead bodies of 10 Nepalis who lost their lives in the attack and to provide treatment to the injured ones. He also called for the government to make public the details of the number of Nepalis in Israel and their condition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CPN (UML)'s Gokul Prasad Banskota urged the government for prompt rescue of the Nepalis in Israel waiting to be rescued. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's Ishwar Bahadur Rijal also viewed that the government should immediately rescue those willing to come home from Israel and ensure medical facilities to the injured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other parliamentarians including Chitra Bahadur KC, Anjani Shrestha, Anisha Nepali, Abdul Khan, Amanlal Modi, Amar Bahadur Raymajhi, Amrit Lal Rajbanshi, Ishwari Gharti, Urmila Majhi, Kiran Kumar Shah and Geeta Basnet also demanded for a prompt rescue of the Nepalis in Israel. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18948', 'image' => '20231010111951_Parliament RSS 800.jpg', 'article_date' => '2023-10-10 11:18:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19218', 'article_category_id' => '1', 'title' => 'World Record-Holder Sherpa Missing in Avalanche ', 'sub_title' => '', 'summary' => 'October 10: World record-holder climber and mountain guide Tenzen Sherpa (Lama) has gone missing in an avalanche Mt Shishapangma (8,027 meters) of Tibet, China. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: World record-holder climber and mountain guide Tenzen Sherpa (Lama) has gone missing in an avalanche Mt Shishapangma (8,027 meters) of Tibet, China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">American national Gina Marie Rzucidlo is also missing along with Sherpa in the avalanche that occurred on Saturday in Shishapangma, one of the world's 14th tallest peaks, according to the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press release on Monday, the ministry said that whereabouts of both the climbers is still unknown. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the ministry informed that Karma Gyalzen Sherpa, Mitra Bahadur Tamang and Kami Rita Sherpa have been critically injured in the avalanche. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has been making necessary efforts to carry out a search for the missing ones while some of the climbers were rescued and are receiving treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement said that the ministry and the entire mountaineering sector is shocked from the news about the missing of the renowned world record keeper and climber Sherpa and the American climber. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, guide Mingmar Sherpa and US national Anna Gutu were found dead in the avalanche that occurred on the same day. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18947', 'image' => '20231010104941_sisa.jpg', 'article_date' => '2023-10-10 10:49:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19219', 'article_category_id' => '1', 'title' => 'Israeli Army Claims Re-control of Southern Communities ', 'sub_title' => '', 'summary' => 'October 10: The Israeli military has said that it had regained control of all Israeli towns near the Gaza border, in the third day of battles to repel Hamas militants from southern Israel. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 10: The Israeli military has said that it had regained control of all Israeli towns near the Gaza border, in the third day of battles to repel Hamas militants from southern Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The control over the communities adjacent to the Gaza Strip has been regained," IDF (Israel Defense Forces) Spokesman Daniel Hagari told reporters, adding but militants could still be in the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Hagari said that tanks and aircraft would secure breaches in the security fence between Israel and Gaza, which Hamas fighters tore down on Saturday as they stormed communities in southern Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israel has called for a large-scale mobilization of reserve forces, with more than 300,000 reserve soldiers reporting within hours, said Hagari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Saturday morning, Hamas militants broke through the fence from Gaza while militants in Gaza launched about 3,000 rockets at central and southern Israel. Israel responded with intensive airstrikes in Gaza. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Israeli officials reported that at least 700 people were killed in Israel and more than 2,300 others injured. Militant groups in Gaza claimed that about 130 individuals were taken hostage during the attack. Meanwhile, the Palestinian Health Ministry in Gaza reported that at least 493 Palestinians were killed, including 78 minors. -- Xinhua/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18946', 'image' => '20231010111154_AP23281412627233.jpg', 'article_date' => '2023-10-10 11:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19217', 'article_category_id' => '1', 'title' => 'Claudia Goldin Wins Nobel Economics Prize for Work on Gender Gap', 'sub_title' => '', 'summary' => 'Harvard economic historian Claudia Goldin won the 2023 Nobel economics prize for her work exposing the causes of deeply rooted wage and labour market inequality between men and women, the Royal Swedish Academy of Sciences said on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 10: Harvard economic historian Claudia Goldin won the 2023 Nobel economics prize for her work exposing the causes of deeply rooted wage and labour market inequality between men and women, the Royal Swedish Academy of Sciences said on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The prestigious award, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is the last of this year's crop of Nobel prizes and is worth 11 million Swedish crowns, or nearly $1 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"This year's Laureate in the Economic Sciences, Claudia Goldin, provided the first comprehensive account of women's earnings and labour market participation through the centuries," the prize-giving body said in a statement. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Her research reveals the causes of change, as well as the main sources of the remaining gender gap."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The award for economics is the final instalment of this year's crop of Nobels that have seen prizes go to COVID-19 vaccine discoveries, atomic snapshots and "quantum dots" as well as to a Norwegian dramatist and an Iranian activist.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Goldin, who in 1990 became the first woman to be tenured at Harvard's economics department, is only the third woman to win the Nobel economics prize, and the first to win it by herself rather than sharing it. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She hailed the decision as "an award for big ideas and for long-term change."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"There are still large differences between women and men in terms of what they do, how they're remunerated and so on," Goldin told Reuters at her home in Cambridge, Massachusetts. "And the question is, why is this the case? And that's what the work is about."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Goldin's 1990 book "Understanding the Gender Gap: An Economic History of American Women" was a hugely influential examination of the roots of wage inequality over 200 years of history.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She has followed up with studies on the impact of the contraceptive pill on women's career and marriage decisions, women's surnames after marriage as a social indicator and the reasons why women are now the majority of undergraduates.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">She said at a press conference at Harvard that women had throughout history often been "hidden from view and uncompensated" for doing the same labour that men were paid for.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"They have over time left that arena of home or family farm or family business and moved to the broader arena of market production," she said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"They've become workers, they've begun earning a living for themselves and for their families. Their lives have greatly changed, but the labour market and the policies of governments are often slower to respond."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Randi Hjalmarsson, a member of the Economic Prize committee, said Goldin's discoveries "have vast societal implications." </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hjalmarsson quoted Goldin's own words: "By finally understanding the problem and calling it by the right name, we will be able to pave a better route forward." (Agencies) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-10', 'modified' => '2023-10-10', 'keywords' => '', 'description' => '', 'sortorder' => '18945', 'image' => '20231010060242_collage (4).jpg', 'article_date' => '2023-10-10 06:00:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '19216', 'article_category_id' => '1', 'title' => '‘Government’s Wrong Policies in the Real Estate Sector Put the Entire Economy in Crisis’', 'sub_title' => '', 'summary' => 'October 9: The real estate entrepreneurs have said that the country's economy is in crisis due to the wrong policy taken by the government in the field of real estate and housing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">October 9: The real estate entrepreneurs have said that the country's economy is in crisis due to the wrong policy taken by the government in the field of real estate and housing. The businessmen said this while speaking at the 'Real Estate Entrepreneurs’ Gathering-2080' organized by the Nepal Real Estate and Housing Development Federation in Kathmandu.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the meeting, Nepal Chamber of Commerce President Rajendra Malla said that all stakeholders should join hands to convert the real estate business into an industry and Nepal Chamber of Commerce will fully support this initiative.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the businessmen are currently in as state of panic because of the flawed lens with which the government has been viewing this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kush Kumar Joshi, the former president of the Federation of Nepalese Chamber of Commerce and Industry said that there is no respect for businessmen and that businessmen viewed as profit-making individuals. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that peaceful demonstration to ensure the rights of businessmen alone is not enough. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'In a country built on movement, nothing will be heard without movement. I do not know which part of the state the businessmen belong to. Where is the taxpayers’ right? Did we lag behind because we did not hit the streets like the teachers did recently?,' he questioned.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Joshi said that the policy that keeps changing from time to time cannot work reliably, and he said that a long-term policy should be introduced. "It should be clear who will pay for the damage caused by this changing policy," said Joshi. He said that the current problem in Nepal's economy is not because of foreign wars but because of the frequent change of governments.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Adviser of Nepal Land and Housing Development Federation, Ichha Bahadur Wagle said that banks and financial sector have gone too far by increasing interest rates. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Banks give 12 percent interest to those who do nothing but eat and sleep,” said Wagle, adding sarcastically that those who toil hard have to pay a 16 percent interest rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chandra Prasad Dhakal, President of Federation of Nepal Chamber of Commerce and Industry, said that it is necessary to increase the confidence of consumers to bring the economy on the right track. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the government and the private sector should work together to create a situation to increase the demand in the market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The district coordinators and presidents of the federation who came from all over the country criticized the current governor as the main culprit for the current situation. They said that the leadership should take the initiative, saying that they are ready even if they have to start a street protest. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The president of the federation, Bhesraj Lohani, said that there is still a lot to be done about land pooling, and he said that he would move forward after taking everyone's suggestions into account. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18944', 'image' => '20231009051620_Real estate.jpg', 'article_date' => '2023-10-09 17:15:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19215', 'article_category_id' => '1', 'title' => 'NEPSE Index Continues Its Downward Trend; Turnover Amount Shrinks', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 12.58 points or 0.65% and closed at 1908.66 points on the second trading day of the week, Monday. The Index lost 35.67 points yesterday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 9: The Nepal Stock Exchange(NEPSE) Index lost 12.58 points or 0.65% and closed at 1908.66 points on the second trading day of the week, Monday. The Index lost 35.67 points yesterday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and stock analysts point to Nepal Rastra Bank's strict stock market policies and the festive season as the reasons behind NEPSE's ongoing downward trend.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experts emphasize that the market won't rebound until NRB revises its policies, specifically by removing the upper cap on margin lending and adjusting the risk weightage ratio from 150 to 100.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One investor stated, “The stock market needs a policy shift to regain momentum.” </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, as many as 287 different stocks were traded in the NEPSE. Likewise, 4,327,179 units of shares exchanged their hands through 48,444 transactions, amounting to Rs 1.17 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nabil Bank Limited (NABIL) had the highest turnover, reaching Rs. 3.51 crores, and closed at a market price of Rs. 571.80.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Sayapatri Hydropower Limited (SPHL) posted the highest gain of 6.88%, followed by Three Star Hydropower Limited (TSHL) with a gain of 4.46%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Barahi Hydropower Public Limited (BHPL) and Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL) hit the negative circuit today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices except Manufacturing and Processing and Trading Index closed in the red territory.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> "Trading Index" gained the highest 0.29% while "Life Insurance Index" lost the highest 1% today. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a loss of 0.77%, while Float Index and Sensitive Float Index dropped by 0.70% and 0.92% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18943', 'image' => '20231009044029_collage (17).jpg', 'article_date' => '2023-10-09 16:36:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
