October 9: Newly-appointed European Union Ambassador to Nepal, Véronique Lorenzo, shared that green recovery, human capital and federalism are the three main agendas of the EU for Nepal.…
October 9: Newly-appointed European Union Ambassador to Nepal, Véronique Lorenzo, shared that green recovery, human capital and federalism are the three main agendas of the EU for Nepal.…
October 9: The government has decided to keep a plane on ready position and establish coordination with the Israeli side to bring back home the bodies of Nepali nationals killed in the ongoing conflict in…
October 9: Mobility of tourists has visibly increased in Thamel – the main tourism hub in the capital city – with the advent of autumn season. Tourism entrepreneurs are elated with the increase in arrival of…
October 9: The business of non-life insurance companies in Nepal is focused on vehicle insurance and property…
October 9: Nepal Rastra Bank is preparing to issue new currency notes from October 16, targeting festivals like Dashain and…
October 9: Nepal's embassy in Israel has confirmed that 10 Nepali students died in the terrorist attacks in various places of Israel while one has gone missing. …
Recent heavy rainfall, attributed to a delayed monsoon, has wreaked havoc on rice crops in Chitwan. According to Umaraj Aryal, an officer at the Agriculture Knowledge Centre in Chitwan, approximately two percent of the rice crops in the district have suffered damage due to the untimely rains during the harvest…
October 8: Hosts China racked up a record 201 gold medals before the curtain came down on two weeks of tears and triumphs at the Asian Games in Hangzhou on…
The Nepal Stock Exchange (NEPSE) Index lost 35.67 points or 1.82% and closed at 1921.24 points on the first trading day of the week,…
October 8: Korean Air has been allowed to continue its flights to and from…
October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit.…
October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a…
October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social…
October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs 2.5 billion in the Nepali month of Asoj (mid-September to…
October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market.…
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">October 9: Newly-appointed European Union Ambassador to Nepal, Véronique Lorenzo, shared that green recovery, human capital and federalism are the three main agendas of the EU for Nepal. The newly appointed ambassador made such remarks during an interaction program with Nepali journalists at the EU delegation Office in Lazimpat on Monday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"We have three priorities on our agenda for Nepal. The first one is green recovery investment in clean energy. The second priority is human capital, and we have been investing in education for the last 30 years. There are good results but there is a lot to achieve in terms of the quality of education. We are working on access, inclusion and also on bigger agendas. The third one is governance, essentially to assist in the implementation of the federalism," said Lorenzo. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Besides, she shared that her priority is to reach out to the widest audience possible in Nepal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“Young people understand better what the priorities are and what the problems are,” the EU envoy added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The coming year marks the 50th anniversary between Nepal and the European Union, and Lorenzo shared that she wants to make it grand by organizing several events. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"We have 50 years of EU-Nepal relations coming next year and we would like to make it a grand celebration and have several events in different areas. The intention behind this is to reach out to the widest audience because often people don't understand the EU, why it was formed and why it is there. So it is a wonderful political project to achieve which we think needs to be shared with the widest audience," she added. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">She also took time to condemn the attack on Israel as a “terrible attack”. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">She also pledged to continue supporting Nepal when it graduated to a middle-income country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Regarding the EU’s restriction on Nepali airlines for more than 10 years, Lorenzo shared that there has been progress in Nepal’s aviation sector and are awaiting a report from EU’s assessment mission before the ban can be lifted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to Lorenzo, the assessment mission was held from September 11 to 15. It was a technical mission led by the European Commission with the participation of EASA and experts from member states. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“They conducted their assessment and are in the process of writing a report. This report will go to the Air Safety Committee of EU. The committee will review the report and decide if Nepal can be removed from the air safety concern list. The air safety committee will meet on November 14 -16th and make its decision public,” she added. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18942', 'image' => '20231009042159_image (1).jpg', 'article_date' => '2023-10-09 16:21:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19213', 'article_category_id' => '1', 'title' => 'Government Decides to Keep Plane on Stand-by to Bring Bodies of Nepalis Killed in Israel ', 'sub_title' => '', 'summary' => 'October 9: The government has decided to keep a plane on ready position and establish coordination with the Israeli side to bring back home the bodies of Nepali nationals killed in the ongoing conflict 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 9: The government has decided to keep a plane on ready position and establish coordination with the Israeli side to bring back home the bodies of Nepali nationals killed in the ongoing conflict in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Coordination Mechanism headed by Minister for Foreign Affairs NP Saud took a decision to this effect on Monday. The government on Sunday formed the Mechanism to take the required decision in the aftermath of the ongoing conflict in Israel and the Nepali nationals affected due to this. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also decided to find out a way to relocate the Nepali citizens in Israel to safe areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mechanism is tasked with figuring out the condition of Nepali citizens, taking the required decision in case rescue has to be carried out, establishing coordination and providing assistance etc after carrying out regular monitoring and overall assessment of the situation in Israel. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Nepal’s Embassy in Israel, at least ten Nepali students have been killed in Israel following a terrorist attack by Hamas militants on Saturday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18941', 'image' => '20231009025226_naccccc.jpg', 'article_date' => '2023-10-09 14:51:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19212', 'article_category_id' => '1', 'title' => 'Thamel's Tourism Business Bounces Back ', 'sub_title' => '', 'summary' => 'October 9: Mobility of tourists has visibly increased in Thamel – the main tourism hub in the capital city – with the advent of autumn season. Tourism entrepreneurs are elated with the increase in arrival of tourists. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 9: Mobility of tourists has visibly increased in Thamel – the main tourism hub in the capital city – with the advent of autumn season. Tourism entrepreneurs are elated with the increase in arrival of tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs had come across financial trouble with a sharp fall in the inflow of tourists in the wake of the devastating Gorkha earthquake, trade embargo and coronavirus pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A new hope is simmering among the entrepreneurs due to the gradual rise in the arrival of tourists with the onset of tourism season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The influx of foreign tourists has increased in Thamel of late, said Thamel-based restaurant operator Bhagawan Thapa, who has been offering Thakali cuisine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Earlier, hardly 10-15 domestic and foreign guests used to visit my restaurant daily. But the number has increased to 45-50 per day this month and most of them are foreigners," he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kiran Dev Ghimire, who has been operating a stationery shop in Thamel for the past one-and-a-half decades, said that the inflow of foreign tourists has increased in Thamel lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, tourists have been facing trouble in lack of proper maintenance of dilapidated roads in Thamel, he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Fancy cloth operator Sitaram Regmi commented that business volume has not increased in Thamel despite the rise in tourism activities. "Fancy business transactions have dropped in Thamel this year compared to last year," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hotel business has a different story in Thamel. The occupancy in Thamel-based hotels has increased with rising flow of tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mahesh Phuyal, operator of Thamel-based four-star hotel Ramada Encore, said hotel rooms have been booked for the autumn season since a month before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sahadev Dhamala, proprietor of a hotel in Thamel, however said tourism business in Thamel has not been as anticipated due to short-term stay of tourists of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhamala, who is also the vice-chairperson of Thamel Tourism Development Council, said the Council has been holding discussions with different agencies on the measures to prolong the stay of foreign tourists in Thamel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Nepal Tourism Board, a total of 692,372 tourists have entered Nepal via air routes in the first nine months of the year 2023. Among them, 91,012 tourists arrived in Nepal in the month of September alone. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18940', 'image' => '20231009013120_20151124040023_tourism.jpg', 'article_date' => '2023-10-09 13:30:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19211', 'article_category_id' => '1', 'title' => 'Business of Non-Life Insurance Companies Focused on Veicle and Property Insurance', 'sub_title' => '', 'summary' => 'October 9: The business of non-life insurance companies in Nepal is focused on vehicle insurance and property insurance.', '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 business of non-life insurance companies in Nepal is focused on vehicle insurance and property insurance. According to the Nepal Insurance Authority, 80 percent of the insurance policies issued in the first two months of the current fiscal year (FY 2023/24) involve vehicle insurance and property insurance. Experts in this field say that vehicle and property insurances are compulsory as compared to other insurances.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority, 409,080 insurance policies have been issued in two months of the current fiscal year. Among them, 79.44 percent of the insurance policies are related to vehicle insurance and property insurance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In mid-July to mid-September, insurance companies have issued a total of 233,860 (57 percent) vehicle insurance and 91,101 (22 percent) property insurance.</span></span></span></span></p> <p><span style="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 lowest is the air insurance policy issued in the review period. During this period, 18 insurance policies of air insurance were issued.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority, 76 percent of the 445,371 insurance policies issued during the corresponding period of last fiscal year were vehicle and property insurance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the first two months of the current fiscal year, non-life insurance companies have collected a total of Rs 7.80 billion through insurance premium including 28.06 percent (Rs 1. 98 billion) collected from vehicle insurance and 26.76 percent (Rs 1.89 billion) from property insurance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Former Chairman of Nepal Insurance Authority Chiranjeevi Chapagain says that since vehicle and property insurance are compulsory, the issuance of insurance policies is higher in these two segments than other types of insurances. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Vehicle and property insurance is mandatory in Nepal. The Transporttion Act itself has mentioned that vehicle insurance should be made compulsory," he said, adding, "Similarly, the central bank has also made property insurance compulsory when taking a loan from banks."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chapagain says that instead of making insurance mandatory, it should be encouraged to do so spontaneously. "In order to encourage insurance spontaneously, it is necessary for companies to increase credibility by paying claims on time," says Chapagain.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18939', 'image' => '20231009121727_1696824685.1620254944.nlf.jpg', 'article_date' => '2023-10-09 12:16:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19210', 'article_category_id' => '1', 'title' => 'NRB to Issue New Notes from Next Monday', 'sub_title' => '', 'summary' => 'October 9: Nepal Rastra Bank is preparing to issue new currency notes from October 16, targeting festivals like Dashain and Tihar.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">October 9: Nepal Rastra Bank is preparing to issue new currency notes from October 16, targeting festivals like Dashain and Tihar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a notification on Sunday, the central bank said that its Currency Management Department as well as designated branches of commercial banks will issue the new notes. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the notification mentions that currency exchange facilities will be available in the regional offices of the central bank and the branches designated by the commercial banks outside the valley. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the past few years, commercial banks have also been issuing new notes apart from the central bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank will provide exchange facility up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per person this year, in which one packet of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">will be available. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB, which did not issue new notes for two years due to the Covid-19 pandemic, started offering the facility before Dashain from last year.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18938', 'image' => '20231009112710_1696820897.1664663994.Clipboard16.jpg', 'article_date' => '2023-10-09 11:26:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19209', 'article_category_id' => '1', 'title' => 'Nepal's Embassy in Israel Confirms 10 Nepali Students Dead, One Missing in Hamas Attack ', 'sub_title' => '', 'summary' => 'October 9: Nepal's embassy in Israel has confirmed that 10 Nepali students died in the terrorist attacks in various places of Israel while one has gone missing. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 9: Nepal's embassy in Israel has confirmed that 10 Nepali students died in the terrorist attacks in various places of Israel while one has gone missing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy was holding discussion with the concerned Israeli officials for the management of the dead bodies, and coordinating with the Foreign Ministry here to bring the dead bodies back home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Those killed in Hamas attacks have been identified as Narayan Prasad Neupane from Ghodaghodi-4, Kailali; Ganesh Kumar Nepali from Jayprithvi-6, Bajhang; Ashish Chaudhary from Bauniya-3, Kailali; Dipesh Raj Bista from Lekham-5, Darchula; Lokendra Singh Dhami from Mallikarjun-4, Darchula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Anand Saha from Sapahi-6, Dhanusha; Rajesh Kumar Swarnakar from Madhuwan-1, Sunsari; Rajan Phulara from Panchali-3, Doti; Padma Thapa from Lamikhal-8, Doti; and Prabesh Bhandari from Sharada-3, Salyan were also killed in the terrorist attack in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy further informed that six Nepalis injured in the attacks were receiving treatment at different hospitals. Bipin Joshi from Bhimdatta Municipality-3, Kanchanpur has gone missing. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18937', 'image' => '20231009104726_XxjpbeE007115_20231008_PEPFN1A001.JPG', 'article_date' => '2023-10-09 10:46:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19208', 'article_category_id' => '1', 'title' => 'Rains Damage Rice Crops in Chitwan', 'sub_title' => '', 'summary' => 'Recent heavy rainfall, attributed to a delayed monsoon, has wreaked havoc on rice crops in Chitwan. According to Umaraj Aryal, an officer at the Agriculture Knowledge Centre in Chitwan, approximately two percent of the rice crops in the district have suffered damage due to the untimely rains during the harvest period.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 9: Recent heavy rainfall, attributed to a delayed monsoon, has wreaked havoc on rice crops in Chitwan.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to Umaraj Aryal, an officer at the Agriculture Knowledge Centre in Chitwan, approximately two percent of the rice crops in the district have suffered damage due to the untimely rains during the harvest period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In specific regions of eastern Chitwan and Bharatpur, where farmers had already cut their rice plants, the downpour further complicated matters by delaying the storage process. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The rice harvest season is scheduled to commence in most parts of Chitwan in about a week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Eastern Chitwan, known for its irrigation facilities, typically completes rice transplantation by the end of June. Unfortunately, Sunil Dawadi of Sharanpur in Bharatpur metropolis-16 shared that the heavy rains submerged the rice plants he had left to dry in the fields. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dawadi, visibly disheartened, mentioned that he had even hired workers from Rautahat and invested Rs 25,000 in labor costs for the rice transplantation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Madhumaya Khanal from Sharanpur echoed the sentiment, explaining how the rains had damaged the rice plants that had already been cut during the harvest process. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Farmers in the region are deeply concerned about the adverse impact of the rain on their ready-for-harvest rice plants. The rice is cultivated across approximately 27,000 hectares of land in Chitwan. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18936', 'image' => '20231009060955_collage (2).jpg', 'article_date' => '2023-10-09 06:08:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19207', 'article_category_id' => '1', 'title' => 'Record-Breaking China Brings Curtain Down on Biggest Asian Games', 'sub_title' => '', 'summary' => 'October 8: Hosts China racked up a record 201 gold medals before the curtain came down on two weeks of tears and triumphs at the Asian Games in Hangzhou on Sunday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Hosts China racked up a record 201 gold medals before the curtain came down on two weeks of tears and triumphs at the Asian Games in Hangzhou on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, the 19th and biggest Asiad concluded at the 80,000-capacity Olympic stadium with China handing over the hosting rights to Japan for 2026 edition at a celebratory closing ceremony.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dancers holding lit-up props fanned out towards the audience in a performance evoking ocean waves while the words "love Asia" were projected on a big screen, added the French news agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the closing ceremony, a spectator surnamed Xia told AFP that the Games made her feel "very moved and proud".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The Chinese team did great," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Taiwan's Gu Shiau-shuang won the final gold earlier in the day when she successfully defended her title in women's karate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But it was the hosts who dominated over much of the fortnight, their 201 golds beating the 199 they collected at Guangzhou 2010.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Their exploits across the 40 sports at the Games reinforced China's status as Asia's sporting superpower, topping the medals table at every Asian Games since 1982, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With about 12,000 athletes, this was the biggest Asian Games in history and had more competitors than the Olympics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chinese swimmers Zhang Yufei and Qin Haiyang were named the Games MVPs and it was in the pool where the hosts were especially impressive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They won 28 swimming golds -- Zhang and Qin accounting for 11 of them -- to send a warning of what they can do in Paris.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan were a distant second in the final medals table with 52 golds, down from 75 at Jakarta in 2018, and South Korea third on 42.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's pinpoint archers and shooters helped propel the country to 107 medals, their best showing ever.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal, on the other hand, secured just two medals – one silver and a bronze. Despite the disappointing run, Nepal made some great achievements, including world records in cricket event under the games.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s national cricket team became the first men's team to score more than 300 runs in T20 international cricket as they rewrote the record books against part-timers Mongolia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They made 314-3 in their 20 overs, beating the previous highest of 278-3 held by Afghanistan against Ireland in 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Teenager Kushal Malla crashed the fastest T20 international century, off 34 balls, and ended up 137 not out off 50.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dipendra Singh Airee finished the innings in ridiculous fashion. He raced to his fifty off nine balls, another T20 world record, with eight sixes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's 26 sixes were also the most scored in a T20 innings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Nepal’s silver medal haul in karate by Arika Gurung matched the country’s 25-year-old record held by taekwondo player Sabita Rajbhandari, who had secured silver in the 1998 Asian Games. It was also the first silver secured by Nepal in an individual event. In between, Nepal’s paragliding team had won a silver medal in a group event.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepal’s women’s kabaddi team also won bronze medal in its Asian Games debut in otherwise forgettable performance by Nepali players.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18935', 'image' => '20231008090730_069464-01-02.jpg', 'article_date' => '2023-10-08 21:06:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19206', 'article_category_id' => '1', 'title' => 'NEPSE Index Tumbles by 35.67 Points; Investors Wave Red Flag to NRB Circular', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index lost 35.67 points or 1.82% and closed at 1921.24 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The Nepal Stock Exchange (NEPSE) Index lost 35.67 points or 1.82% and closed at 1921.24 points on the first trading day of the week, Sunday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Today’s heavy fall reflects share investors’ dissatisfaction to the Nepal Rastra Bank’s circular to raise the cap of the margin lending from Rs 120 million to Rs 150 million for individuals and Rs 200 million for institutional investors. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They had been demanding for the removal of the upper caps on the margin loan. However, the central bank had changed the upper caps by slightly increasing the limit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stock market experts and analysts, however, say that market has decreased due to various reasons. Prices of the many companies have come at the bottom level, suitable for investors to purchase. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, as many as 289 different stocks were traded in the NEPSE index. A total of 5,815,189 units of shares exchanged their hands, amounting to the total turnover of Rs 1.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover, reaching Rs. 6.73 crores, and closed at a market price of Rs. 519.90.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Barahi Hydropower Public Limited (BHPL) witnessed the highest gain of 9.59%, followed by Siddhartha Investment Growth Scheme - 2 (SIGS2) with a gain of 9.40%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL) and Garima Debenture, 2085 (GBBD85) experienced the highest loss of 10% 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 closed in red territory. "Hydropower Index" lost the highest 2.72% while "Mutual Fund Index" lost the least 1.08% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index declined by 1.55%, while Float Index and Sensitive Float Index lost 1.83% and 1.68% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18934', 'image' => '20231008045601_collage (15).jpg', 'article_date' => '2023-10-08 16:54:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19205', 'article_category_id' => '1', 'title' => 'CAAN Allows Korean Air to Operate Flights to and from Nepal', 'sub_title' => '', 'summary' => 'October 8: Korean Air has been allowed to continue its flights to and from Nepal.', '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 8: Korean Air has been allowed to continue its flights to and from Nepal.</span></span></span></span></p> <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 Civil Aviation Authority of Nepal (CAAN) recently revoked its earlier decision to bar Korean Air from operating flights to Nepal.</span></span></span></span></p> <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"">CAAN had sent a letter to Universal Travels in mid-September instructing the Nepal-based general sales agent of Korean Air not to sell tickets anymore.</span></span></span></span></p> <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"">CAAN took such drastic measures after failure of Nepal Airlines Corporation (NAC) to get permits to operate flights to South Korea.</span></span></span></span></p> <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"">As per the bilateral air agreement between Nepal and South Korea, the Korean Air has been operating flights to Nepal without any hindrance, but the national flag carrier of Nepal, NAC, has not been able to fly to South Korea.</span></span></span></span></p> <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"">CAAN, which had earlier sent a letter not to sell Korean Air flight tickets, issued a notice on Friday and informed that the airline company can operate flights to and from Nepal. </span></span></span></span></p> <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 authority has said that Korea Air's Incheon-Kathmandu-Incheon flight will be operated regularly. </span></span></span></span></p> <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"">CAAN withdrew its decision to ban the flights of Korean Air after reaching an understanding with the Korean authorities to discuss the matter during an upcoming conference to be held in Dhaka, Bangladesh from October 15 to October 20. The 58th Conference of Civil Aviation Directors General of the Asia Pacific Region is being held in Dhaka next week.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, a CAAN official said that the letter of intent to grant permission to Nepal Airlines Corporation to fly to Korea has been received from the aviation governing body of South Korea. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that necessary preparations are being made to conduct flights to South Korea.</span></span></span></span></p> <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"">Nepal Airlines Corporation had made repeated attempts to operate flights to South Korea but in vain.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18933', 'image' => '20231008030912_1696728828.1590998498.jpg', 'article_date' => '2023-10-08 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19204', 'article_category_id' => '1', 'title' => 'British Council Nepal Awards Top Performing IELTS Registration Agents', 'sub_title' => '', 'summary' => 'October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. The event was held at the Soaltee Hotel in Kathmandu on September 29. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Educational Consultancy Association of Nepal (ECAN) was declared the top-performing association and the top-performing institute was Orbit Medical Entrance Pvt. Ltd, according to the British Council Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Issuing a press statement on Friday, the British Council said that a total of 48 awards were presented in various categories, including the top 10 IELTS registration partners, overall high-performing partners, and top performing partners in Biratnagar, Birtamode, Butwal, Chitwan and Pokhara. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the statement, the event brought together a range of IELTS partners to celebrate the British Council Nepal’s work in helping young Nepali students and professionals gain access to international education and career development opportunities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“The celebration reflected the strong relationship between the British Council and IELTS partners and it reinforced our collective commitment towards enhancing education opportunities in Nepal by connecting Nepalese with international qualifications from diverse fields,” reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The event recognised outstanding partners and stakeholders who demonstrated exceptional commitment and support in terms of IELTS volume contributions from April 2022 to March 2023, added the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On the occasion, British ambassador to Nepal Rob Fenn said that English has become the best medium of learning, for business, for finance and is regarded as the development language. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“I hope that Nepalese learning English and pursuing higher education internationally will come back and build the country,” said Fenn.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Maxim Raimann, country exams director of British Council Nepal, said that it was an “absolute pleasure and honour to get this opportunity to thank all our IELTS partners for their contribution to our mission in Nepal. We are committed to continuing to work with local educators and consultants to ensure that young Nepalese can easily access life-changing international educational opportunities.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18932', 'image' => '20231008024614_IELTS Partner Summit 2023.jpg', 'article_date' => '2023-10-08 14:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19203', 'article_category_id' => '1', 'title' => 'Landslide Blocks Kimrongkhola Forming a Lake ', 'sub_title' => '', 'summary' => 'October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ward chair Him Bahadur Gurung of Annapurna-11 confirmed that the river has been blocked by a landslide forming a lake, which poses a significant risk to the settlements downstream.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risks still remain high as the pool of water started flowing since 11 am today, he told the state-owned RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Kimrongkhola was blocked by a landslide last night. The pool of water has started flowing after 15 hours. We have asked everyone to stay alert as there is a possibility of damage if it bursts suddenly," RSS quoted Gurung as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kimrongkhola, a tributary of the Kali Gandaki, flows into the Modi river through Jhinodanda of the ward-7 and 11 in Annapurna Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the people living on the riverbanks of wards 7, 8, 10 and 11 in Annapurna Rural Municipality have been asked to be alert and safe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, spokesperson of the rural municipality Bharat Man Gurung said that people's representatives of the respective wards, the police posts in Birethanti and Nayapul and the locals have been informed about the river blockade and its potential threat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that flash flood in northeast India recently killed at least 56 people while thousands were stranded in the deluge.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that violent torrents stuck the remote state of Sikkim on Wednesday after the sudden bursting of a high-altitude glacial lake near India's borders with China and Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various studies conducted by ICIMOD and other organisations have warned of potential risks of glacial lake outburst floods in parts of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The area where the river was blocked on Saturday night is close to the Seti River, which witnessed a massive flash flood in 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most recently, Mustang district’s Kagbeni was hit by a flashflood in August incurring losses worth millions to physical infrastructure. However, human casualty was averted due to timely intervention by the local authorities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18931', 'image' => '20231008020000_Untitled.jpg', 'article_date' => '2023-10-08 13:59:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19202', 'article_category_id' => '1', 'title' => 'Nepal, Romania Sign Labour Agreement', 'sub_title' => '', 'summary' => 'October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The two countries signed the MoU at the Ministry of Labour and Social Solidarity of Romania on Friday, October 6. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Labour, Employment and Social Security of Nepal Sharat Singh Bhandari and Minister for Labour and Social Solidarity of Romania Simona Bucura-Oprescu, signed the MoU on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The signing of the MoU was preceded by a bilateral meeting between the high-level </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">delegations, states a press release issued by the Embassy of Nepal in Berlin, Germany. On the occasion, the two ministers shared views, primarily, on the agenda of </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal-Romania bilateral relations, labour migration, Nepal's commitment to legal migration, workers' welfare, dignity, security, and vocational training. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the two ministers expressed happiness over the growing relations between the two countries in recent years and stated that the signing of tfie MoU would be the first step in the roadmap towards fair, ethical, and legal migration of Nepali workers to Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhandari also expressed his willingness to collaborate with the friendly Government of Romania in all sectors of mutual benefits. He further stated that Nepal is aware of gender-friendly recruitment approach and is ready to cooperate on this matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bucura-Oprescu also assured the visiting delegation that the Nepali workers working legally in Romania are entitled to equal rights as that of Romanian citizens. The Romanian side informed the Nepali delegation regarding the need of Romanian labour market, especially in the fields of construction, services, hospitality and agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of now, 15,590 Nepali workers are employed in Romania which is the second largest among the foreign citizens from non-EU countries in Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation led by Minister Bhandari includes Secretary of the Ministry of Labour; Employment and Social Security, Ram Kaji Khadka, Non-resident Ambassador of Nepal to Romania, and other officials from the Ministry of Labour, Employment and Social Security and Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> The Romanian delegation led by Minister Bucura-Oprescu includes high level officials and heads of relevant departments from the Ministry of Labour and Social Solidarity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation is scheduled to leave for Germany on 8 October. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18930', 'image' => '20231008011804_1696728695.3 romaniya.jpg', 'article_date' => '2023-10-08 13:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19201', 'article_category_id' => '1', 'title' => 'Net Profit of Banks to Increase by Rs 2.5 Billion due to Concession given by NRB', 'sub_title' => '', 'summary' => 'October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs 2.5 billion in the Nepali month of Asoj (mid-September to mid-October).', '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 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the Nepali month of Asoj (mid-September to mid-October).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After Nepal Rastra Bank (NRB) announced to give concessions on the credit loss risk ratio, the amount that banks have to set aside for credit risk from their profit will decrease and the profit will increase.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the instructions issued by the central bank on Thursday, it is enough for banks to arrange only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent credit risk on good loans. After the outbreak of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic, the NRB had instructed banks to set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of their profit for credit risk on good loans. Prior to that, there was a provision to set aside only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent for credit risk on good loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, commercial banks, development banks and finance companies have extended a total of Rs Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4860</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">84</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion credit as of mid-August</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have set aside a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">169</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for risk of this type of loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Now, if the amount to be set aside for risk on good loans is reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">0.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points, around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion will be added to the profit of banks from the risk fund. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, due to arrangements for micro-monitoring, sub-standard, doubtful and bad loan risk, there will be some reduction in the aforementioned amount. There is a provision that banks should set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for micro-monitoring loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for sub-standard loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for doubtful loans and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for bad loans. According to the provisions of the integrated directive, loans that are overdue for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months are classified as sub-standard loans, loans that are overdue for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to at most one year as doubtful loans, and loans that are overdue for more than one year are classified as bad loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bad loans of banks are increasing due to the slump in economic activities. In this situation, the banks have been a relief by the NRB’s decision to give concessions in the credit loss risk. </span></span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18929', 'image' => '20231008120234_NRBnew.jpg', 'article_date' => '2023-10-08 12:01:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19200', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Sugar', 'sub_title' => '', 'summary' => 'October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. At a time when the people consume more sugar than normal, the state-owned company entrusted with the import and distribution of sugar at subsidized rates does not have stock of sugar. There is no possibility of government importing subsidized sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Taking advantage of the lack of sugar with the government, traders have increased the price of sugar arbitrarily creating an artificial shortage of the essential item in the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Retail Trade Association, which had set the retail price of sugar at Rs 130 per kg until a few days ago, says that it has now stopped fixing the price of sugar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pabitra Bajracharya, president of the association, said that the association did not fix the price of sugar after the big traders caused an artificial shortage of sugar and left the retail traders in the lurch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We don't have sugar either. Some traders are selling sugar that they had bought at less price. If the big traders don't give us sugar, what will we do even if we set the price?'' she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Since the association did not fix the price, there is no uniformity in the price of sugar in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that the shopkeepers have been arbitrarily selling sugar at prices ranging from Rs 135 to 140 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Suresh Sharma, who came to buy sugar in Kathmandu's Asan on Thursday, said that he bought a kilogram of sugar at Rs 140 after visiting four to five shops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stakeholders say that the possibility of subsidized sugar arriving in the market before Dashain is very low while the artificial shortage has created chaos in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Gajendra Kumar Thakur, joint secretary at the Ministry of Industry, Commerce and Supplies, said that although the government took a diplomatic initiative to import 50,000 tons of sugar from India through the G2G process on July 21 in an attempt to control black marketing, there has been no response from the Indian side so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, since the Indian side has not shown any interest in supplying sugar so far, it is uncertain whether the sugar will come through G2G process before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the information given by Sharmila Subedi, information officer of the Food Management and Trading Company, the state-owned company had called for a 45-day global bid on September 27 to purchase sugar. However, there is less than two weeks for the Dashain festival to begin. Therefore, it is certain that subsidized sugar will not arrive before Dashain. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"To prevent this current situation from happening, we requested permission from the Ministry of Finance to buy sugar early through the Ministry of Supplies. However, despite our timely effort, we could not bring sugar before Dashain because the finance ministry did not release the budget,'' she told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Salt Trading Corporation issued a 15-day notice and called for bids with the aim of importing sugar through fast track and bringing it before Dashain after the finance ministry gave permission for the purchase recently. The notice expires on Saturday and the Salt Trading Corporation officials say that they are still not sure whether they will be able to import sugar before Dashain or not.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Brajesh Jha, departmental head of the Salt Trading Cororation, said that since there are only 10 days left for Dashain, nothing can be said about whether or not subsidized sugar will come before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“It also depends on who gets the tender. If a tender is given to an Indian company, the sugar will come within 1 day. It is not possible to say anything at this time. We will try but there is no guarantee that it will come," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18928', 'image' => '20231008110732_sugar.jpg', 'article_date' => '2023-10-08 11:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">October 9: Newly-appointed European Union Ambassador to Nepal, Véronique Lorenzo, shared that green recovery, human capital and federalism are the three main agendas of the EU for Nepal. The newly appointed ambassador made such remarks during an interaction program with Nepali journalists at the EU delegation Office in Lazimpat on Monday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"We have three priorities on our agenda for Nepal. The first one is green recovery investment in clean energy. The second priority is human capital, and we have been investing in education for the last 30 years. There are good results but there is a lot to achieve in terms of the quality of education. We are working on access, inclusion and also on bigger agendas. The third one is governance, essentially to assist in the implementation of the federalism," said Lorenzo. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Besides, she shared that her priority is to reach out to the widest audience possible in Nepal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“Young people understand better what the priorities are and what the problems are,” the EU envoy added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The coming year marks the 50th anniversary between Nepal and the European Union, and Lorenzo shared that she wants to make it grand by organizing several events. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"We have 50 years of EU-Nepal relations coming next year and we would like to make it a grand celebration and have several events in different areas. The intention behind this is to reach out to the widest audience because often people don't understand the EU, why it was formed and why it is there. So it is a wonderful political project to achieve which we think needs to be shared with the widest audience," she added. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">She also took time to condemn the attack on Israel as a “terrible attack”. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">She also pledged to continue supporting Nepal when it graduated to a middle-income country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Regarding the EU’s restriction on Nepali airlines for more than 10 years, Lorenzo shared that there has been progress in Nepal’s aviation sector and are awaiting a report from EU’s assessment mission before the ban can be lifted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to Lorenzo, the assessment mission was held from September 11 to 15. It was a technical mission led by the European Commission with the participation of EASA and experts from member states. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“They conducted their assessment and are in the process of writing a report. This report will go to the Air Safety Committee of EU. The committee will review the report and decide if Nepal can be removed from the air safety concern list. The air safety committee will meet on November 14 -16th and make its decision public,” she added. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18942', 'image' => '20231009042159_image (1).jpg', 'article_date' => '2023-10-09 16:21:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19213', 'article_category_id' => '1', 'title' => 'Government Decides to Keep Plane on Stand-by to Bring Bodies of Nepalis Killed in Israel ', 'sub_title' => '', 'summary' => 'October 9: The government has decided to keep a plane on ready position and establish coordination with the Israeli side to bring back home the bodies of Nepali nationals killed in the ongoing conflict 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 9: The government has decided to keep a plane on ready position and establish coordination with the Israeli side to bring back home the bodies of Nepali nationals killed in the ongoing conflict in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Coordination Mechanism headed by Minister for Foreign Affairs NP Saud took a decision to this effect on Monday. The government on Sunday formed the Mechanism to take the required decision in the aftermath of the ongoing conflict in Israel and the Nepali nationals affected due to this. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also decided to find out a way to relocate the Nepali citizens in Israel to safe areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mechanism is tasked with figuring out the condition of Nepali citizens, taking the required decision in case rescue has to be carried out, establishing coordination and providing assistance etc after carrying out regular monitoring and overall assessment of the situation in Israel. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Nepal’s Embassy in Israel, at least ten Nepali students have been killed in Israel following a terrorist attack by Hamas militants on Saturday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18941', 'image' => '20231009025226_naccccc.jpg', 'article_date' => '2023-10-09 14:51:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19212', 'article_category_id' => '1', 'title' => 'Thamel's Tourism Business Bounces Back ', 'sub_title' => '', 'summary' => 'October 9: Mobility of tourists has visibly increased in Thamel – the main tourism hub in the capital city – with the advent of autumn season. Tourism entrepreneurs are elated with the increase in arrival of tourists. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 9: Mobility of tourists has visibly increased in Thamel – the main tourism hub in the capital city – with the advent of autumn season. Tourism entrepreneurs are elated with the increase in arrival of tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs had come across financial trouble with a sharp fall in the inflow of tourists in the wake of the devastating Gorkha earthquake, trade embargo and coronavirus pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A new hope is simmering among the entrepreneurs due to the gradual rise in the arrival of tourists with the onset of tourism season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The influx of foreign tourists has increased in Thamel of late, said Thamel-based restaurant operator Bhagawan Thapa, who has been offering Thakali cuisine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Earlier, hardly 10-15 domestic and foreign guests used to visit my restaurant daily. But the number has increased to 45-50 per day this month and most of them are foreigners," he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kiran Dev Ghimire, who has been operating a stationery shop in Thamel for the past one-and-a-half decades, said that the inflow of foreign tourists has increased in Thamel lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, tourists have been facing trouble in lack of proper maintenance of dilapidated roads in Thamel, he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Fancy cloth operator Sitaram Regmi commented that business volume has not increased in Thamel despite the rise in tourism activities. "Fancy business transactions have dropped in Thamel this year compared to last year," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hotel business has a different story in Thamel. The occupancy in Thamel-based hotels has increased with rising flow of tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mahesh Phuyal, operator of Thamel-based four-star hotel Ramada Encore, said hotel rooms have been booked for the autumn season since a month before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sahadev Dhamala, proprietor of a hotel in Thamel, however said tourism business in Thamel has not been as anticipated due to short-term stay of tourists of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhamala, who is also the vice-chairperson of Thamel Tourism Development Council, said the Council has been holding discussions with different agencies on the measures to prolong the stay of foreign tourists in Thamel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Nepal Tourism Board, a total of 692,372 tourists have entered Nepal via air routes in the first nine months of the year 2023. Among them, 91,012 tourists arrived in Nepal in the month of September alone. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18940', 'image' => '20231009013120_20151124040023_tourism.jpg', 'article_date' => '2023-10-09 13:30:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19211', 'article_category_id' => '1', 'title' => 'Business of Non-Life Insurance Companies Focused on Veicle and Property Insurance', 'sub_title' => '', 'summary' => 'October 9: The business of non-life insurance companies in Nepal is focused on vehicle insurance and property insurance.', '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 business of non-life insurance companies in Nepal is focused on vehicle insurance and property insurance. According to the Nepal Insurance Authority, 80 percent of the insurance policies issued in the first two months of the current fiscal year (FY 2023/24) involve vehicle insurance and property insurance. Experts in this field say that vehicle and property insurances are compulsory as compared to other insurances.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority, 409,080 insurance policies have been issued in two months of the current fiscal year. Among them, 79.44 percent of the insurance policies are related to vehicle insurance and property insurance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In mid-July to mid-September, insurance companies have issued a total of 233,860 (57 percent) vehicle insurance and 91,101 (22 percent) property insurance.</span></span></span></span></p> <p><span style="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 lowest is the air insurance policy issued in the review period. During this period, 18 insurance policies of air insurance were issued.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority, 76 percent of the 445,371 insurance policies issued during the corresponding period of last fiscal year were vehicle and property insurance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the first two months of the current fiscal year, non-life insurance companies have collected a total of Rs 7.80 billion through insurance premium including 28.06 percent (Rs 1. 98 billion) collected from vehicle insurance and 26.76 percent (Rs 1.89 billion) from property insurance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Former Chairman of Nepal Insurance Authority Chiranjeevi Chapagain says that since vehicle and property insurance are compulsory, the issuance of insurance policies is higher in these two segments than other types of insurances. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Vehicle and property insurance is mandatory in Nepal. The Transporttion Act itself has mentioned that vehicle insurance should be made compulsory," he said, adding, "Similarly, the central bank has also made property insurance compulsory when taking a loan from banks."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chapagain says that instead of making insurance mandatory, it should be encouraged to do so spontaneously. "In order to encourage insurance spontaneously, it is necessary for companies to increase credibility by paying claims on time," says Chapagain.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18939', 'image' => '20231009121727_1696824685.1620254944.nlf.jpg', 'article_date' => '2023-10-09 12:16:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19210', 'article_category_id' => '1', 'title' => 'NRB to Issue New Notes from Next Monday', 'sub_title' => '', 'summary' => 'October 9: Nepal Rastra Bank is preparing to issue new currency notes from October 16, targeting festivals like Dashain and Tihar.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">October 9: Nepal Rastra Bank is preparing to issue new currency notes from October 16, targeting festivals like Dashain and Tihar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a notification on Sunday, the central bank said that its Currency Management Department as well as designated branches of commercial banks will issue the new notes. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the notification mentions that currency exchange facilities will be available in the regional offices of the central bank and the branches designated by the commercial banks outside the valley. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the past few years, commercial banks have also been issuing new notes apart from the central bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank will provide exchange facility up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per person this year, in which one packet of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">will be available. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB, which did not issue new notes for two years due to the Covid-19 pandemic, started offering the facility before Dashain from last year.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18938', 'image' => '20231009112710_1696820897.1664663994.Clipboard16.jpg', 'article_date' => '2023-10-09 11:26:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19209', 'article_category_id' => '1', 'title' => 'Nepal's Embassy in Israel Confirms 10 Nepali Students Dead, One Missing in Hamas Attack ', 'sub_title' => '', 'summary' => 'October 9: Nepal's embassy in Israel has confirmed that 10 Nepali students died in the terrorist attacks in various places of Israel while one has gone missing. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 9: Nepal's embassy in Israel has confirmed that 10 Nepali students died in the terrorist attacks in various places of Israel while one has gone missing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy was holding discussion with the concerned Israeli officials for the management of the dead bodies, and coordinating with the Foreign Ministry here to bring the dead bodies back home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Those killed in Hamas attacks have been identified as Narayan Prasad Neupane from Ghodaghodi-4, Kailali; Ganesh Kumar Nepali from Jayprithvi-6, Bajhang; Ashish Chaudhary from Bauniya-3, Kailali; Dipesh Raj Bista from Lekham-5, Darchula; Lokendra Singh Dhami from Mallikarjun-4, Darchula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Anand Saha from Sapahi-6, Dhanusha; Rajesh Kumar Swarnakar from Madhuwan-1, Sunsari; Rajan Phulara from Panchali-3, Doti; Padma Thapa from Lamikhal-8, Doti; and Prabesh Bhandari from Sharada-3, Salyan were also killed in the terrorist attack in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy further informed that six Nepalis injured in the attacks were receiving treatment at different hospitals. Bipin Joshi from Bhimdatta Municipality-3, Kanchanpur has gone missing. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18937', 'image' => '20231009104726_XxjpbeE007115_20231008_PEPFN1A001.JPG', 'article_date' => '2023-10-09 10:46:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19208', 'article_category_id' => '1', 'title' => 'Rains Damage Rice Crops in Chitwan', 'sub_title' => '', 'summary' => 'Recent heavy rainfall, attributed to a delayed monsoon, has wreaked havoc on rice crops in Chitwan. According to Umaraj Aryal, an officer at the Agriculture Knowledge Centre in Chitwan, approximately two percent of the rice crops in the district have suffered damage due to the untimely rains during the harvest period.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 9: Recent heavy rainfall, attributed to a delayed monsoon, has wreaked havoc on rice crops in Chitwan.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to Umaraj Aryal, an officer at the Agriculture Knowledge Centre in Chitwan, approximately two percent of the rice crops in the district have suffered damage due to the untimely rains during the harvest period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In specific regions of eastern Chitwan and Bharatpur, where farmers had already cut their rice plants, the downpour further complicated matters by delaying the storage process. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The rice harvest season is scheduled to commence in most parts of Chitwan in about a week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Eastern Chitwan, known for its irrigation facilities, typically completes rice transplantation by the end of June. Unfortunately, Sunil Dawadi of Sharanpur in Bharatpur metropolis-16 shared that the heavy rains submerged the rice plants he had left to dry in the fields. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dawadi, visibly disheartened, mentioned that he had even hired workers from Rautahat and invested Rs 25,000 in labor costs for the rice transplantation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Madhumaya Khanal from Sharanpur echoed the sentiment, explaining how the rains had damaged the rice plants that had already been cut during the harvest process. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Farmers in the region are deeply concerned about the adverse impact of the rain on their ready-for-harvest rice plants. The rice is cultivated across approximately 27,000 hectares of land in Chitwan. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18936', 'image' => '20231009060955_collage (2).jpg', 'article_date' => '2023-10-09 06:08:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19207', 'article_category_id' => '1', 'title' => 'Record-Breaking China Brings Curtain Down on Biggest Asian Games', 'sub_title' => '', 'summary' => 'October 8: Hosts China racked up a record 201 gold medals before the curtain came down on two weeks of tears and triumphs at the Asian Games in Hangzhou on Sunday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Hosts China racked up a record 201 gold medals before the curtain came down on two weeks of tears and triumphs at the Asian Games in Hangzhou on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, the 19th and biggest Asiad concluded at the 80,000-capacity Olympic stadium with China handing over the hosting rights to Japan for 2026 edition at a celebratory closing ceremony.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dancers holding lit-up props fanned out towards the audience in a performance evoking ocean waves while the words "love Asia" were projected on a big screen, added the French news agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the closing ceremony, a spectator surnamed Xia told AFP that the Games made her feel "very moved and proud".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The Chinese team did great," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Taiwan's Gu Shiau-shuang won the final gold earlier in the day when she successfully defended her title in women's karate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But it was the hosts who dominated over much of the fortnight, their 201 golds beating the 199 they collected at Guangzhou 2010.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Their exploits across the 40 sports at the Games reinforced China's status as Asia's sporting superpower, topping the medals table at every Asian Games since 1982, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With about 12,000 athletes, this was the biggest Asian Games in history and had more competitors than the Olympics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chinese swimmers Zhang Yufei and Qin Haiyang were named the Games MVPs and it was in the pool where the hosts were especially impressive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They won 28 swimming golds -- Zhang and Qin accounting for 11 of them -- to send a warning of what they can do in Paris.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan were a distant second in the final medals table with 52 golds, down from 75 at Jakarta in 2018, and South Korea third on 42.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's pinpoint archers and shooters helped propel the country to 107 medals, their best showing ever.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal, on the other hand, secured just two medals – one silver and a bronze. Despite the disappointing run, Nepal made some great achievements, including world records in cricket event under the games.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s national cricket team became the first men's team to score more than 300 runs in T20 international cricket as they rewrote the record books against part-timers Mongolia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They made 314-3 in their 20 overs, beating the previous highest of 278-3 held by Afghanistan against Ireland in 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Teenager Kushal Malla crashed the fastest T20 international century, off 34 balls, and ended up 137 not out off 50.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dipendra Singh Airee finished the innings in ridiculous fashion. He raced to his fifty off nine balls, another T20 world record, with eight sixes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's 26 sixes were also the most scored in a T20 innings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Nepal’s silver medal haul in karate by Arika Gurung matched the country’s 25-year-old record held by taekwondo player Sabita Rajbhandari, who had secured silver in the 1998 Asian Games. It was also the first silver secured by Nepal in an individual event. In between, Nepal’s paragliding team had won a silver medal in a group event.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepal’s women’s kabaddi team also won bronze medal in its Asian Games debut in otherwise forgettable performance by Nepali players.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18935', 'image' => '20231008090730_069464-01-02.jpg', 'article_date' => '2023-10-08 21:06:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19206', 'article_category_id' => '1', 'title' => 'NEPSE Index Tumbles by 35.67 Points; Investors Wave Red Flag to NRB Circular', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index lost 35.67 points or 1.82% and closed at 1921.24 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The Nepal Stock Exchange (NEPSE) Index lost 35.67 points or 1.82% and closed at 1921.24 points on the first trading day of the week, Sunday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Today’s heavy fall reflects share investors’ dissatisfaction to the Nepal Rastra Bank’s circular to raise the cap of the margin lending from Rs 120 million to Rs 150 million for individuals and Rs 200 million for institutional investors. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They had been demanding for the removal of the upper caps on the margin loan. However, the central bank had changed the upper caps by slightly increasing the limit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stock market experts and analysts, however, say that market has decreased due to various reasons. Prices of the many companies have come at the bottom level, suitable for investors to purchase. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, as many as 289 different stocks were traded in the NEPSE index. A total of 5,815,189 units of shares exchanged their hands, amounting to the total turnover of Rs 1.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover, reaching Rs. 6.73 crores, and closed at a market price of Rs. 519.90.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Barahi Hydropower Public Limited (BHPL) witnessed the highest gain of 9.59%, followed by Siddhartha Investment Growth Scheme - 2 (SIGS2) with a gain of 9.40%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL) and Garima Debenture, 2085 (GBBD85) experienced the highest loss of 10% 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 closed in red territory. "Hydropower Index" lost the highest 2.72% while "Mutual Fund Index" lost the least 1.08% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index declined by 1.55%, while Float Index and Sensitive Float Index lost 1.83% and 1.68% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18934', 'image' => '20231008045601_collage (15).jpg', 'article_date' => '2023-10-08 16:54:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19205', 'article_category_id' => '1', 'title' => 'CAAN Allows Korean Air to Operate Flights to and from Nepal', 'sub_title' => '', 'summary' => 'October 8: Korean Air has been allowed to continue its flights to and from Nepal.', '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 8: Korean Air has been allowed to continue its flights to and from Nepal.</span></span></span></span></p> <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 Civil Aviation Authority of Nepal (CAAN) recently revoked its earlier decision to bar Korean Air from operating flights to Nepal.</span></span></span></span></p> <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"">CAAN had sent a letter to Universal Travels in mid-September instructing the Nepal-based general sales agent of Korean Air not to sell tickets anymore.</span></span></span></span></p> <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"">CAAN took such drastic measures after failure of Nepal Airlines Corporation (NAC) to get permits to operate flights to South Korea.</span></span></span></span></p> <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"">As per the bilateral air agreement between Nepal and South Korea, the Korean Air has been operating flights to Nepal without any hindrance, but the national flag carrier of Nepal, NAC, has not been able to fly to South Korea.</span></span></span></span></p> <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"">CAAN, which had earlier sent a letter not to sell Korean Air flight tickets, issued a notice on Friday and informed that the airline company can operate flights to and from Nepal. </span></span></span></span></p> <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 authority has said that Korea Air's Incheon-Kathmandu-Incheon flight will be operated regularly. </span></span></span></span></p> <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"">CAAN withdrew its decision to ban the flights of Korean Air after reaching an understanding with the Korean authorities to discuss the matter during an upcoming conference to be held in Dhaka, Bangladesh from October 15 to October 20. The 58th Conference of Civil Aviation Directors General of the Asia Pacific Region is being held in Dhaka next week.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, a CAAN official said that the letter of intent to grant permission to Nepal Airlines Corporation to fly to Korea has been received from the aviation governing body of South Korea. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that necessary preparations are being made to conduct flights to South Korea.</span></span></span></span></p> <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"">Nepal Airlines Corporation had made repeated attempts to operate flights to South Korea but in vain.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18933', 'image' => '20231008030912_1696728828.1590998498.jpg', 'article_date' => '2023-10-08 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19204', 'article_category_id' => '1', 'title' => 'British Council Nepal Awards Top Performing IELTS Registration Agents', 'sub_title' => '', 'summary' => 'October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. The event was held at the Soaltee Hotel in Kathmandu on September 29. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Educational Consultancy Association of Nepal (ECAN) was declared the top-performing association and the top-performing institute was Orbit Medical Entrance Pvt. Ltd, according to the British Council Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Issuing a press statement on Friday, the British Council said that a total of 48 awards were presented in various categories, including the top 10 IELTS registration partners, overall high-performing partners, and top performing partners in Biratnagar, Birtamode, Butwal, Chitwan and Pokhara. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the statement, the event brought together a range of IELTS partners to celebrate the British Council Nepal’s work in helping young Nepali students and professionals gain access to international education and career development opportunities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“The celebration reflected the strong relationship between the British Council and IELTS partners and it reinforced our collective commitment towards enhancing education opportunities in Nepal by connecting Nepalese with international qualifications from diverse fields,” reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The event recognised outstanding partners and stakeholders who demonstrated exceptional commitment and support in terms of IELTS volume contributions from April 2022 to March 2023, added the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On the occasion, British ambassador to Nepal Rob Fenn said that English has become the best medium of learning, for business, for finance and is regarded as the development language. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“I hope that Nepalese learning English and pursuing higher education internationally will come back and build the country,” said Fenn.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Maxim Raimann, country exams director of British Council Nepal, said that it was an “absolute pleasure and honour to get this opportunity to thank all our IELTS partners for their contribution to our mission in Nepal. We are committed to continuing to work with local educators and consultants to ensure that young Nepalese can easily access life-changing international educational opportunities.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18932', 'image' => '20231008024614_IELTS Partner Summit 2023.jpg', 'article_date' => '2023-10-08 14:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19203', 'article_category_id' => '1', 'title' => 'Landslide Blocks Kimrongkhola Forming a Lake ', 'sub_title' => '', 'summary' => 'October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ward chair Him Bahadur Gurung of Annapurna-11 confirmed that the river has been blocked by a landslide forming a lake, which poses a significant risk to the settlements downstream.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risks still remain high as the pool of water started flowing since 11 am today, he told the state-owned RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Kimrongkhola was blocked by a landslide last night. The pool of water has started flowing after 15 hours. We have asked everyone to stay alert as there is a possibility of damage if it bursts suddenly," RSS quoted Gurung as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kimrongkhola, a tributary of the Kali Gandaki, flows into the Modi river through Jhinodanda of the ward-7 and 11 in Annapurna Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the people living on the riverbanks of wards 7, 8, 10 and 11 in Annapurna Rural Municipality have been asked to be alert and safe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, spokesperson of the rural municipality Bharat Man Gurung said that people's representatives of the respective wards, the police posts in Birethanti and Nayapul and the locals have been informed about the river blockade and its potential threat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that flash flood in northeast India recently killed at least 56 people while thousands were stranded in the deluge.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that violent torrents stuck the remote state of Sikkim on Wednesday after the sudden bursting of a high-altitude glacial lake near India's borders with China and Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various studies conducted by ICIMOD and other organisations have warned of potential risks of glacial lake outburst floods in parts of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The area where the river was blocked on Saturday night is close to the Seti River, which witnessed a massive flash flood in 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most recently, Mustang district’s Kagbeni was hit by a flashflood in August incurring losses worth millions to physical infrastructure. However, human casualty was averted due to timely intervention by the local authorities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18931', 'image' => '20231008020000_Untitled.jpg', 'article_date' => '2023-10-08 13:59:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19202', 'article_category_id' => '1', 'title' => 'Nepal, Romania Sign Labour Agreement', 'sub_title' => '', 'summary' => 'October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The two countries signed the MoU at the Ministry of Labour and Social Solidarity of Romania on Friday, October 6. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Labour, Employment and Social Security of Nepal Sharat Singh Bhandari and Minister for Labour and Social Solidarity of Romania Simona Bucura-Oprescu, signed the MoU on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The signing of the MoU was preceded by a bilateral meeting between the high-level </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">delegations, states a press release issued by the Embassy of Nepal in Berlin, Germany. On the occasion, the two ministers shared views, primarily, on the agenda of </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal-Romania bilateral relations, labour migration, Nepal's commitment to legal migration, workers' welfare, dignity, security, and vocational training. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the two ministers expressed happiness over the growing relations between the two countries in recent years and stated that the signing of tfie MoU would be the first step in the roadmap towards fair, ethical, and legal migration of Nepali workers to Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhandari also expressed his willingness to collaborate with the friendly Government of Romania in all sectors of mutual benefits. He further stated that Nepal is aware of gender-friendly recruitment approach and is ready to cooperate on this matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bucura-Oprescu also assured the visiting delegation that the Nepali workers working legally in Romania are entitled to equal rights as that of Romanian citizens. The Romanian side informed the Nepali delegation regarding the need of Romanian labour market, especially in the fields of construction, services, hospitality and agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of now, 15,590 Nepali workers are employed in Romania which is the second largest among the foreign citizens from non-EU countries in Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation led by Minister Bhandari includes Secretary of the Ministry of Labour; Employment and Social Security, Ram Kaji Khadka, Non-resident Ambassador of Nepal to Romania, and other officials from the Ministry of Labour, Employment and Social Security and Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> The Romanian delegation led by Minister Bucura-Oprescu includes high level officials and heads of relevant departments from the Ministry of Labour and Social Solidarity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation is scheduled to leave for Germany on 8 October. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18930', 'image' => '20231008011804_1696728695.3 romaniya.jpg', 'article_date' => '2023-10-08 13:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19201', 'article_category_id' => '1', 'title' => 'Net Profit of Banks to Increase by Rs 2.5 Billion due to Concession given by NRB', 'sub_title' => '', 'summary' => 'October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs 2.5 billion in the Nepali month of Asoj (mid-September to mid-October).', '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 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the Nepali month of Asoj (mid-September to mid-October).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After Nepal Rastra Bank (NRB) announced to give concessions on the credit loss risk ratio, the amount that banks have to set aside for credit risk from their profit will decrease and the profit will increase.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the instructions issued by the central bank on Thursday, it is enough for banks to arrange only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent credit risk on good loans. After the outbreak of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic, the NRB had instructed banks to set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of their profit for credit risk on good loans. Prior to that, there was a provision to set aside only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent for credit risk on good loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, commercial banks, development banks and finance companies have extended a total of Rs Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4860</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">84</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion credit as of mid-August</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have set aside a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">169</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for risk of this type of loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Now, if the amount to be set aside for risk on good loans is reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">0.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points, around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion will be added to the profit of banks from the risk fund. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, due to arrangements for micro-monitoring, sub-standard, doubtful and bad loan risk, there will be some reduction in the aforementioned amount. There is a provision that banks should set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for micro-monitoring loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for sub-standard loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for doubtful loans and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for bad loans. According to the provisions of the integrated directive, loans that are overdue for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months are classified as sub-standard loans, loans that are overdue for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to at most one year as doubtful loans, and loans that are overdue for more than one year are classified as bad loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bad loans of banks are increasing due to the slump in economic activities. In this situation, the banks have been a relief by the NRB’s decision to give concessions in the credit loss risk. </span></span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18929', 'image' => '20231008120234_NRBnew.jpg', 'article_date' => '2023-10-08 12:01:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19200', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Sugar', 'sub_title' => '', 'summary' => 'October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. At a time when the people consume more sugar than normal, the state-owned company entrusted with the import and distribution of sugar at subsidized rates does not have stock of sugar. There is no possibility of government importing subsidized sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Taking advantage of the lack of sugar with the government, traders have increased the price of sugar arbitrarily creating an artificial shortage of the essential item in the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Retail Trade Association, which had set the retail price of sugar at Rs 130 per kg until a few days ago, says that it has now stopped fixing the price of sugar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pabitra Bajracharya, president of the association, said that the association did not fix the price of sugar after the big traders caused an artificial shortage of sugar and left the retail traders in the lurch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We don't have sugar either. Some traders are selling sugar that they had bought at less price. If the big traders don't give us sugar, what will we do even if we set the price?'' she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Since the association did not fix the price, there is no uniformity in the price of sugar in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that the shopkeepers have been arbitrarily selling sugar at prices ranging from Rs 135 to 140 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Suresh Sharma, who came to buy sugar in Kathmandu's Asan on Thursday, said that he bought a kilogram of sugar at Rs 140 after visiting four to five shops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stakeholders say that the possibility of subsidized sugar arriving in the market before Dashain is very low while the artificial shortage has created chaos in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Gajendra Kumar Thakur, joint secretary at the Ministry of Industry, Commerce and Supplies, said that although the government took a diplomatic initiative to import 50,000 tons of sugar from India through the G2G process on July 21 in an attempt to control black marketing, there has been no response from the Indian side so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, since the Indian side has not shown any interest in supplying sugar so far, it is uncertain whether the sugar will come through G2G process before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the information given by Sharmila Subedi, information officer of the Food Management and Trading Company, the state-owned company had called for a 45-day global bid on September 27 to purchase sugar. However, there is less than two weeks for the Dashain festival to begin. Therefore, it is certain that subsidized sugar will not arrive before Dashain. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"To prevent this current situation from happening, we requested permission from the Ministry of Finance to buy sugar early through the Ministry of Supplies. However, despite our timely effort, we could not bring sugar before Dashain because the finance ministry did not release the budget,'' she told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Salt Trading Corporation issued a 15-day notice and called for bids with the aim of importing sugar through fast track and bringing it before Dashain after the finance ministry gave permission for the purchase recently. The notice expires on Saturday and the Salt Trading Corporation officials say that they are still not sure whether they will be able to import sugar before Dashain or not.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Brajesh Jha, departmental head of the Salt Trading Cororation, said that since there are only 10 days left for Dashain, nothing can be said about whether or not subsidized sugar will come before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“It also depends on who gets the tender. If a tender is given to an Indian company, the sugar will come within 1 day. It is not possible to say anything at this time. We will try but there is no guarantee that it will come," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18928', 'image' => '20231008110732_sugar.jpg', 'article_date' => '2023-10-08 11:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19214', 'article_category_id' => '1', 'title' => 'EU Prioritizes Green Recovery, Human Capital and Federalism for Nepal: EU Ambassador Lorenzo', 'sub_title' => '', 'summary' => 'October 9: Newly-appointed European Union Ambassador to Nepal, Véronique Lorenzo, shared that green recovery, human capital and federalism are the three main agendas of the EU for Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">October 9: Newly-appointed European Union Ambassador to Nepal, Véronique Lorenzo, shared that green recovery, human capital and federalism are the three main agendas of the EU for Nepal. The newly appointed ambassador made such remarks during an interaction program with Nepali journalists at the EU delegation Office in Lazimpat on Monday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"We have three priorities on our agenda for Nepal. The first one is green recovery investment in clean energy. The second priority is human capital, and we have been investing in education for the last 30 years. There are good results but there is a lot to achieve in terms of the quality of education. We are working on access, inclusion and also on bigger agendas. The third one is governance, essentially to assist in the implementation of the federalism," said Lorenzo. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Besides, she shared that her priority is to reach out to the widest audience possible in Nepal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“Young people understand better what the priorities are and what the problems are,” the EU envoy added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The coming year marks the 50th anniversary between Nepal and the European Union, and Lorenzo shared that she wants to make it grand by organizing several events. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"We have 50 years of EU-Nepal relations coming next year and we would like to make it a grand celebration and have several events in different areas. The intention behind this is to reach out to the widest audience because often people don't understand the EU, why it was formed and why it is there. So it is a wonderful political project to achieve which we think needs to be shared with the widest audience," she added. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">She also took time to condemn the attack on Israel as a “terrible attack”. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">She also pledged to continue supporting Nepal when it graduated to a middle-income country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Regarding the EU’s restriction on Nepali airlines for more than 10 years, Lorenzo shared that there has been progress in Nepal’s aviation sector and are awaiting a report from EU’s assessment mission before the ban can be lifted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to Lorenzo, the assessment mission was held from September 11 to 15. It was a technical mission led by the European Commission with the participation of EASA and experts from member states. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“They conducted their assessment and are in the process of writing a report. This report will go to the Air Safety Committee of EU. The committee will review the report and decide if Nepal can be removed from the air safety concern list. The air safety committee will meet on November 14 -16th and make its decision public,” she added. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18942', 'image' => '20231009042159_image (1).jpg', 'article_date' => '2023-10-09 16:21:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19213', 'article_category_id' => '1', 'title' => 'Government Decides to Keep Plane on Stand-by to Bring Bodies of Nepalis Killed in Israel ', 'sub_title' => '', 'summary' => 'October 9: The government has decided to keep a plane on ready position and establish coordination with the Israeli side to bring back home the bodies of Nepali nationals killed in the ongoing conflict 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 9: The government has decided to keep a plane on ready position and establish coordination with the Israeli side to bring back home the bodies of Nepali nationals killed in the ongoing conflict in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Coordination Mechanism headed by Minister for Foreign Affairs NP Saud took a decision to this effect on Monday. The government on Sunday formed the Mechanism to take the required decision in the aftermath of the ongoing conflict in Israel and the Nepali nationals affected due to this. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also decided to find out a way to relocate the Nepali citizens in Israel to safe areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mechanism is tasked with figuring out the condition of Nepali citizens, taking the required decision in case rescue has to be carried out, establishing coordination and providing assistance etc after carrying out regular monitoring and overall assessment of the situation in Israel. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Nepal’s Embassy in Israel, at least ten Nepali students have been killed in Israel following a terrorist attack by Hamas militants on Saturday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18941', 'image' => '20231009025226_naccccc.jpg', 'article_date' => '2023-10-09 14:51:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19212', 'article_category_id' => '1', 'title' => 'Thamel's Tourism Business Bounces Back ', 'sub_title' => '', 'summary' => 'October 9: Mobility of tourists has visibly increased in Thamel – the main tourism hub in the capital city – with the advent of autumn season. Tourism entrepreneurs are elated with the increase in arrival of tourists. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 9: Mobility of tourists has visibly increased in Thamel – the main tourism hub in the capital city – with the advent of autumn season. Tourism entrepreneurs are elated with the increase in arrival of tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs had come across financial trouble with a sharp fall in the inflow of tourists in the wake of the devastating Gorkha earthquake, trade embargo and coronavirus pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A new hope is simmering among the entrepreneurs due to the gradual rise in the arrival of tourists with the onset of tourism season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The influx of foreign tourists has increased in Thamel of late, said Thamel-based restaurant operator Bhagawan Thapa, who has been offering Thakali cuisine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Earlier, hardly 10-15 domestic and foreign guests used to visit my restaurant daily. But the number has increased to 45-50 per day this month and most of them are foreigners," he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kiran Dev Ghimire, who has been operating a stationery shop in Thamel for the past one-and-a-half decades, said that the inflow of foreign tourists has increased in Thamel lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, tourists have been facing trouble in lack of proper maintenance of dilapidated roads in Thamel, he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Fancy cloth operator Sitaram Regmi commented that business volume has not increased in Thamel despite the rise in tourism activities. "Fancy business transactions have dropped in Thamel this year compared to last year," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hotel business has a different story in Thamel. The occupancy in Thamel-based hotels has increased with rising flow of tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mahesh Phuyal, operator of Thamel-based four-star hotel Ramada Encore, said hotel rooms have been booked for the autumn season since a month before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sahadev Dhamala, proprietor of a hotel in Thamel, however said tourism business in Thamel has not been as anticipated due to short-term stay of tourists of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhamala, who is also the vice-chairperson of Thamel Tourism Development Council, said the Council has been holding discussions with different agencies on the measures to prolong the stay of foreign tourists in Thamel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Nepal Tourism Board, a total of 692,372 tourists have entered Nepal via air routes in the first nine months of the year 2023. Among them, 91,012 tourists arrived in Nepal in the month of September alone. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18940', 'image' => '20231009013120_20151124040023_tourism.jpg', 'article_date' => '2023-10-09 13:30:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19211', 'article_category_id' => '1', 'title' => 'Business of Non-Life Insurance Companies Focused on Veicle and Property Insurance', 'sub_title' => '', 'summary' => 'October 9: The business of non-life insurance companies in Nepal is focused on vehicle insurance and property insurance.', '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 business of non-life insurance companies in Nepal is focused on vehicle insurance and property insurance. According to the Nepal Insurance Authority, 80 percent of the insurance policies issued in the first two months of the current fiscal year (FY 2023/24) involve vehicle insurance and property insurance. Experts in this field say that vehicle and property insurances are compulsory as compared to other insurances.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority, 409,080 insurance policies have been issued in two months of the current fiscal year. Among them, 79.44 percent of the insurance policies are related to vehicle insurance and property insurance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In mid-July to mid-September, insurance companies have issued a total of 233,860 (57 percent) vehicle insurance and 91,101 (22 percent) property insurance.</span></span></span></span></p> <p><span style="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 lowest is the air insurance policy issued in the review period. During this period, 18 insurance policies of air insurance were issued.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority, 76 percent of the 445,371 insurance policies issued during the corresponding period of last fiscal year were vehicle and property insurance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the first two months of the current fiscal year, non-life insurance companies have collected a total of Rs 7.80 billion through insurance premium including 28.06 percent (Rs 1. 98 billion) collected from vehicle insurance and 26.76 percent (Rs 1.89 billion) from property insurance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Former Chairman of Nepal Insurance Authority Chiranjeevi Chapagain says that since vehicle and property insurance are compulsory, the issuance of insurance policies is higher in these two segments than other types of insurances. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Vehicle and property insurance is mandatory in Nepal. The Transporttion Act itself has mentioned that vehicle insurance should be made compulsory," he said, adding, "Similarly, the central bank has also made property insurance compulsory when taking a loan from banks."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chapagain says that instead of making insurance mandatory, it should be encouraged to do so spontaneously. "In order to encourage insurance spontaneously, it is necessary for companies to increase credibility by paying claims on time," says Chapagain.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18939', 'image' => '20231009121727_1696824685.1620254944.nlf.jpg', 'article_date' => '2023-10-09 12:16:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19210', 'article_category_id' => '1', 'title' => 'NRB to Issue New Notes from Next Monday', 'sub_title' => '', 'summary' => 'October 9: Nepal Rastra Bank is preparing to issue new currency notes from October 16, targeting festivals like Dashain and Tihar.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">October 9: Nepal Rastra Bank is preparing to issue new currency notes from October 16, targeting festivals like Dashain and Tihar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a notification on Sunday, the central bank said that its Currency Management Department as well as designated branches of commercial banks will issue the new notes. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the notification mentions that currency exchange facilities will be available in the regional offices of the central bank and the branches designated by the commercial banks outside the valley. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the past few years, commercial banks have also been issuing new notes apart from the central bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank will provide exchange facility up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per person this year, in which one packet of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">will be available. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB, which did not issue new notes for two years due to the Covid-19 pandemic, started offering the facility before Dashain from last year.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18938', 'image' => '20231009112710_1696820897.1664663994.Clipboard16.jpg', 'article_date' => '2023-10-09 11:26:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19209', 'article_category_id' => '1', 'title' => 'Nepal's Embassy in Israel Confirms 10 Nepali Students Dead, One Missing in Hamas Attack ', 'sub_title' => '', 'summary' => 'October 9: Nepal's embassy in Israel has confirmed that 10 Nepali students died in the terrorist attacks in various places of Israel while one has gone missing. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 9: Nepal's embassy in Israel has confirmed that 10 Nepali students died in the terrorist attacks in various places of Israel while one has gone missing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy was holding discussion with the concerned Israeli officials for the management of the dead bodies, and coordinating with the Foreign Ministry here to bring the dead bodies back home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Those killed in Hamas attacks have been identified as Narayan Prasad Neupane from Ghodaghodi-4, Kailali; Ganesh Kumar Nepali from Jayprithvi-6, Bajhang; Ashish Chaudhary from Bauniya-3, Kailali; Dipesh Raj Bista from Lekham-5, Darchula; Lokendra Singh Dhami from Mallikarjun-4, Darchula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Anand Saha from Sapahi-6, Dhanusha; Rajesh Kumar Swarnakar from Madhuwan-1, Sunsari; Rajan Phulara from Panchali-3, Doti; Padma Thapa from Lamikhal-8, Doti; and Prabesh Bhandari from Sharada-3, Salyan were also killed in the terrorist attack in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy further informed that six Nepalis injured in the attacks were receiving treatment at different hospitals. Bipin Joshi from Bhimdatta Municipality-3, Kanchanpur has gone missing. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18937', 'image' => '20231009104726_XxjpbeE007115_20231008_PEPFN1A001.JPG', 'article_date' => '2023-10-09 10:46:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19208', 'article_category_id' => '1', 'title' => 'Rains Damage Rice Crops in Chitwan', 'sub_title' => '', 'summary' => 'Recent heavy rainfall, attributed to a delayed monsoon, has wreaked havoc on rice crops in Chitwan. According to Umaraj Aryal, an officer at the Agriculture Knowledge Centre in Chitwan, approximately two percent of the rice crops in the district have suffered damage due to the untimely rains during the harvest period.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 9: Recent heavy rainfall, attributed to a delayed monsoon, has wreaked havoc on rice crops in Chitwan.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to Umaraj Aryal, an officer at the Agriculture Knowledge Centre in Chitwan, approximately two percent of the rice crops in the district have suffered damage due to the untimely rains during the harvest period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In specific regions of eastern Chitwan and Bharatpur, where farmers had already cut their rice plants, the downpour further complicated matters by delaying the storage process. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The rice harvest season is scheduled to commence in most parts of Chitwan in about a week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Eastern Chitwan, known for its irrigation facilities, typically completes rice transplantation by the end of June. Unfortunately, Sunil Dawadi of Sharanpur in Bharatpur metropolis-16 shared that the heavy rains submerged the rice plants he had left to dry in the fields. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dawadi, visibly disheartened, mentioned that he had even hired workers from Rautahat and invested Rs 25,000 in labor costs for the rice transplantation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Madhumaya Khanal from Sharanpur echoed the sentiment, explaining how the rains had damaged the rice plants that had already been cut during the harvest process. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Farmers in the region are deeply concerned about the adverse impact of the rain on their ready-for-harvest rice plants. The rice is cultivated across approximately 27,000 hectares of land in Chitwan. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18936', 'image' => '20231009060955_collage (2).jpg', 'article_date' => '2023-10-09 06:08:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19207', 'article_category_id' => '1', 'title' => 'Record-Breaking China Brings Curtain Down on Biggest Asian Games', 'sub_title' => '', 'summary' => 'October 8: Hosts China racked up a record 201 gold medals before the curtain came down on two weeks of tears and triumphs at the Asian Games in Hangzhou on Sunday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Hosts China racked up a record 201 gold medals before the curtain came down on two weeks of tears and triumphs at the Asian Games in Hangzhou on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, the 19th and biggest Asiad concluded at the 80,000-capacity Olympic stadium with China handing over the hosting rights to Japan for 2026 edition at a celebratory closing ceremony.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dancers holding lit-up props fanned out towards the audience in a performance evoking ocean waves while the words "love Asia" were projected on a big screen, added the French news agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the closing ceremony, a spectator surnamed Xia told AFP that the Games made her feel "very moved and proud".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The Chinese team did great," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Taiwan's Gu Shiau-shuang won the final gold earlier in the day when she successfully defended her title in women's karate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But it was the hosts who dominated over much of the fortnight, their 201 golds beating the 199 they collected at Guangzhou 2010.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Their exploits across the 40 sports at the Games reinforced China's status as Asia's sporting superpower, topping the medals table at every Asian Games since 1982, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With about 12,000 athletes, this was the biggest Asian Games in history and had more competitors than the Olympics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chinese swimmers Zhang Yufei and Qin Haiyang were named the Games MVPs and it was in the pool where the hosts were especially impressive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They won 28 swimming golds -- Zhang and Qin accounting for 11 of them -- to send a warning of what they can do in Paris.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan were a distant second in the final medals table with 52 golds, down from 75 at Jakarta in 2018, and South Korea third on 42.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's pinpoint archers and shooters helped propel the country to 107 medals, their best showing ever.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal, on the other hand, secured just two medals – one silver and a bronze. Despite the disappointing run, Nepal made some great achievements, including world records in cricket event under the games.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s national cricket team became the first men's team to score more than 300 runs in T20 international cricket as they rewrote the record books against part-timers Mongolia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They made 314-3 in their 20 overs, beating the previous highest of 278-3 held by Afghanistan against Ireland in 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Teenager Kushal Malla crashed the fastest T20 international century, off 34 balls, and ended up 137 not out off 50.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dipendra Singh Airee finished the innings in ridiculous fashion. He raced to his fifty off nine balls, another T20 world record, with eight sixes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's 26 sixes were also the most scored in a T20 innings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Nepal’s silver medal haul in karate by Arika Gurung matched the country’s 25-year-old record held by taekwondo player Sabita Rajbhandari, who had secured silver in the 1998 Asian Games. It was also the first silver secured by Nepal in an individual event. In between, Nepal’s paragliding team had won a silver medal in a group event.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepal’s women’s kabaddi team also won bronze medal in its Asian Games debut in otherwise forgettable performance by Nepali players.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18935', 'image' => '20231008090730_069464-01-02.jpg', 'article_date' => '2023-10-08 21:06:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19206', 'article_category_id' => '1', 'title' => 'NEPSE Index Tumbles by 35.67 Points; Investors Wave Red Flag to NRB Circular', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index lost 35.67 points or 1.82% and closed at 1921.24 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The Nepal Stock Exchange (NEPSE) Index lost 35.67 points or 1.82% and closed at 1921.24 points on the first trading day of the week, Sunday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Today’s heavy fall reflects share investors’ dissatisfaction to the Nepal Rastra Bank’s circular to raise the cap of the margin lending from Rs 120 million to Rs 150 million for individuals and Rs 200 million for institutional investors. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They had been demanding for the removal of the upper caps on the margin loan. However, the central bank had changed the upper caps by slightly increasing the limit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stock market experts and analysts, however, say that market has decreased due to various reasons. Prices of the many companies have come at the bottom level, suitable for investors to purchase. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, as many as 289 different stocks were traded in the NEPSE index. A total of 5,815,189 units of shares exchanged their hands, amounting to the total turnover of Rs 1.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover, reaching Rs. 6.73 crores, and closed at a market price of Rs. 519.90.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Barahi Hydropower Public Limited (BHPL) witnessed the highest gain of 9.59%, followed by Siddhartha Investment Growth Scheme - 2 (SIGS2) with a gain of 9.40%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL) and Garima Debenture, 2085 (GBBD85) experienced the highest loss of 10% 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 closed in red territory. "Hydropower Index" lost the highest 2.72% while "Mutual Fund Index" lost the least 1.08% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index declined by 1.55%, while Float Index and Sensitive Float Index lost 1.83% and 1.68% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18934', 'image' => '20231008045601_collage (15).jpg', 'article_date' => '2023-10-08 16:54:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19205', 'article_category_id' => '1', 'title' => 'CAAN Allows Korean Air to Operate Flights to and from Nepal', 'sub_title' => '', 'summary' => 'October 8: Korean Air has been allowed to continue its flights to and from Nepal.', '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 8: Korean Air has been allowed to continue its flights to and from Nepal.</span></span></span></span></p> <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 Civil Aviation Authority of Nepal (CAAN) recently revoked its earlier decision to bar Korean Air from operating flights to Nepal.</span></span></span></span></p> <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"">CAAN had sent a letter to Universal Travels in mid-September instructing the Nepal-based general sales agent of Korean Air not to sell tickets anymore.</span></span></span></span></p> <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"">CAAN took such drastic measures after failure of Nepal Airlines Corporation (NAC) to get permits to operate flights to South Korea.</span></span></span></span></p> <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"">As per the bilateral air agreement between Nepal and South Korea, the Korean Air has been operating flights to Nepal without any hindrance, but the national flag carrier of Nepal, NAC, has not been able to fly to South Korea.</span></span></span></span></p> <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"">CAAN, which had earlier sent a letter not to sell Korean Air flight tickets, issued a notice on Friday and informed that the airline company can operate flights to and from Nepal. </span></span></span></span></p> <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 authority has said that Korea Air's Incheon-Kathmandu-Incheon flight will be operated regularly. </span></span></span></span></p> <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"">CAAN withdrew its decision to ban the flights of Korean Air after reaching an understanding with the Korean authorities to discuss the matter during an upcoming conference to be held in Dhaka, Bangladesh from October 15 to October 20. The 58th Conference of Civil Aviation Directors General of the Asia Pacific Region is being held in Dhaka next week.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, a CAAN official said that the letter of intent to grant permission to Nepal Airlines Corporation to fly to Korea has been received from the aviation governing body of South Korea. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that necessary preparations are being made to conduct flights to South Korea.</span></span></span></span></p> <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"">Nepal Airlines Corporation had made repeated attempts to operate flights to South Korea but in vain.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18933', 'image' => '20231008030912_1696728828.1590998498.jpg', 'article_date' => '2023-10-08 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19204', 'article_category_id' => '1', 'title' => 'British Council Nepal Awards Top Performing IELTS Registration Agents', 'sub_title' => '', 'summary' => 'October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. The event was held at the Soaltee Hotel in Kathmandu on September 29. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Educational Consultancy Association of Nepal (ECAN) was declared the top-performing association and the top-performing institute was Orbit Medical Entrance Pvt. Ltd, according to the British Council Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Issuing a press statement on Friday, the British Council said that a total of 48 awards were presented in various categories, including the top 10 IELTS registration partners, overall high-performing partners, and top performing partners in Biratnagar, Birtamode, Butwal, Chitwan and Pokhara. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the statement, the event brought together a range of IELTS partners to celebrate the British Council Nepal’s work in helping young Nepali students and professionals gain access to international education and career development opportunities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“The celebration reflected the strong relationship between the British Council and IELTS partners and it reinforced our collective commitment towards enhancing education opportunities in Nepal by connecting Nepalese with international qualifications from diverse fields,” reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The event recognised outstanding partners and stakeholders who demonstrated exceptional commitment and support in terms of IELTS volume contributions from April 2022 to March 2023, added the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On the occasion, British ambassador to Nepal Rob Fenn said that English has become the best medium of learning, for business, for finance and is regarded as the development language. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“I hope that Nepalese learning English and pursuing higher education internationally will come back and build the country,” said Fenn.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Maxim Raimann, country exams director of British Council Nepal, said that it was an “absolute pleasure and honour to get this opportunity to thank all our IELTS partners for their contribution to our mission in Nepal. We are committed to continuing to work with local educators and consultants to ensure that young Nepalese can easily access life-changing international educational opportunities.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18932', 'image' => '20231008024614_IELTS Partner Summit 2023.jpg', 'article_date' => '2023-10-08 14:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19203', 'article_category_id' => '1', 'title' => 'Landslide Blocks Kimrongkhola Forming a Lake ', 'sub_title' => '', 'summary' => 'October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ward chair Him Bahadur Gurung of Annapurna-11 confirmed that the river has been blocked by a landslide forming a lake, which poses a significant risk to the settlements downstream.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risks still remain high as the pool of water started flowing since 11 am today, he told the state-owned RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Kimrongkhola was blocked by a landslide last night. The pool of water has started flowing after 15 hours. We have asked everyone to stay alert as there is a possibility of damage if it bursts suddenly," RSS quoted Gurung as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kimrongkhola, a tributary of the Kali Gandaki, flows into the Modi river through Jhinodanda of the ward-7 and 11 in Annapurna Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the people living on the riverbanks of wards 7, 8, 10 and 11 in Annapurna Rural Municipality have been asked to be alert and safe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, spokesperson of the rural municipality Bharat Man Gurung said that people's representatives of the respective wards, the police posts in Birethanti and Nayapul and the locals have been informed about the river blockade and its potential threat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that flash flood in northeast India recently killed at least 56 people while thousands were stranded in the deluge.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that violent torrents stuck the remote state of Sikkim on Wednesday after the sudden bursting of a high-altitude glacial lake near India's borders with China and Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various studies conducted by ICIMOD and other organisations have warned of potential risks of glacial lake outburst floods in parts of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The area where the river was blocked on Saturday night is close to the Seti River, which witnessed a massive flash flood in 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most recently, Mustang district’s Kagbeni was hit by a flashflood in August incurring losses worth millions to physical infrastructure. However, human casualty was averted due to timely intervention by the local authorities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18931', 'image' => '20231008020000_Untitled.jpg', 'article_date' => '2023-10-08 13:59:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19202', 'article_category_id' => '1', 'title' => 'Nepal, Romania Sign Labour Agreement', 'sub_title' => '', 'summary' => 'October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The two countries signed the MoU at the Ministry of Labour and Social Solidarity of Romania on Friday, October 6. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Labour, Employment and Social Security of Nepal Sharat Singh Bhandari and Minister for Labour and Social Solidarity of Romania Simona Bucura-Oprescu, signed the MoU on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The signing of the MoU was preceded by a bilateral meeting between the high-level </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">delegations, states a press release issued by the Embassy of Nepal in Berlin, Germany. On the occasion, the two ministers shared views, primarily, on the agenda of </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal-Romania bilateral relations, labour migration, Nepal's commitment to legal migration, workers' welfare, dignity, security, and vocational training. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the two ministers expressed happiness over the growing relations between the two countries in recent years and stated that the signing of tfie MoU would be the first step in the roadmap towards fair, ethical, and legal migration of Nepali workers to Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhandari also expressed his willingness to collaborate with the friendly Government of Romania in all sectors of mutual benefits. He further stated that Nepal is aware of gender-friendly recruitment approach and is ready to cooperate on this matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bucura-Oprescu also assured the visiting delegation that the Nepali workers working legally in Romania are entitled to equal rights as that of Romanian citizens. The Romanian side informed the Nepali delegation regarding the need of Romanian labour market, especially in the fields of construction, services, hospitality and agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of now, 15,590 Nepali workers are employed in Romania which is the second largest among the foreign citizens from non-EU countries in Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation led by Minister Bhandari includes Secretary of the Ministry of Labour; Employment and Social Security, Ram Kaji Khadka, Non-resident Ambassador of Nepal to Romania, and other officials from the Ministry of Labour, Employment and Social Security and Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> The Romanian delegation led by Minister Bucura-Oprescu includes high level officials and heads of relevant departments from the Ministry of Labour and Social Solidarity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation is scheduled to leave for Germany on 8 October. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18930', 'image' => '20231008011804_1696728695.3 romaniya.jpg', 'article_date' => '2023-10-08 13:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19201', 'article_category_id' => '1', 'title' => 'Net Profit of Banks to Increase by Rs 2.5 Billion due to Concession given by NRB', 'sub_title' => '', 'summary' => 'October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs 2.5 billion in the Nepali month of Asoj (mid-September to mid-October).', '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 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the Nepali month of Asoj (mid-September to mid-October).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After Nepal Rastra Bank (NRB) announced to give concessions on the credit loss risk ratio, the amount that banks have to set aside for credit risk from their profit will decrease and the profit will increase.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the instructions issued by the central bank on Thursday, it is enough for banks to arrange only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent credit risk on good loans. After the outbreak of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic, the NRB had instructed banks to set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of their profit for credit risk on good loans. Prior to that, there was a provision to set aside only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent for credit risk on good loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, commercial banks, development banks and finance companies have extended a total of Rs Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4860</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">84</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion credit as of mid-August</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have set aside a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">169</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for risk of this type of loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Now, if the amount to be set aside for risk on good loans is reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">0.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points, around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion will be added to the profit of banks from the risk fund. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, due to arrangements for micro-monitoring, sub-standard, doubtful and bad loan risk, there will be some reduction in the aforementioned amount. There is a provision that banks should set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for micro-monitoring loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for sub-standard loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for doubtful loans and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for bad loans. According to the provisions of the integrated directive, loans that are overdue for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months are classified as sub-standard loans, loans that are overdue for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to at most one year as doubtful loans, and loans that are overdue for more than one year are classified as bad loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bad loans of banks are increasing due to the slump in economic activities. In this situation, the banks have been a relief by the NRB’s decision to give concessions in the credit loss risk. </span></span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18929', 'image' => '20231008120234_NRBnew.jpg', 'article_date' => '2023-10-08 12:01:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19200', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Sugar', 'sub_title' => '', 'summary' => 'October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. At a time when the people consume more sugar than normal, the state-owned company entrusted with the import and distribution of sugar at subsidized rates does not have stock of sugar. There is no possibility of government importing subsidized sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Taking advantage of the lack of sugar with the government, traders have increased the price of sugar arbitrarily creating an artificial shortage of the essential item in the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Retail Trade Association, which had set the retail price of sugar at Rs 130 per kg until a few days ago, says that it has now stopped fixing the price of sugar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pabitra Bajracharya, president of the association, said that the association did not fix the price of sugar after the big traders caused an artificial shortage of sugar and left the retail traders in the lurch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We don't have sugar either. Some traders are selling sugar that they had bought at less price. If the big traders don't give us sugar, what will we do even if we set the price?'' she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Since the association did not fix the price, there is no uniformity in the price of sugar in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that the shopkeepers have been arbitrarily selling sugar at prices ranging from Rs 135 to 140 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Suresh Sharma, who came to buy sugar in Kathmandu's Asan on Thursday, said that he bought a kilogram of sugar at Rs 140 after visiting four to five shops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stakeholders say that the possibility of subsidized sugar arriving in the market before Dashain is very low while the artificial shortage has created chaos in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Gajendra Kumar Thakur, joint secretary at the Ministry of Industry, Commerce and Supplies, said that although the government took a diplomatic initiative to import 50,000 tons of sugar from India through the G2G process on July 21 in an attempt to control black marketing, there has been no response from the Indian side so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, since the Indian side has not shown any interest in supplying sugar so far, it is uncertain whether the sugar will come through G2G process before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the information given by Sharmila Subedi, information officer of the Food Management and Trading Company, the state-owned company had called for a 45-day global bid on September 27 to purchase sugar. However, there is less than two weeks for the Dashain festival to begin. Therefore, it is certain that subsidized sugar will not arrive before Dashain. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"To prevent this current situation from happening, we requested permission from the Ministry of Finance to buy sugar early through the Ministry of Supplies. However, despite our timely effort, we could not bring sugar before Dashain because the finance ministry did not release the budget,'' she told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Salt Trading Corporation issued a 15-day notice and called for bids with the aim of importing sugar through fast track and bringing it before Dashain after the finance ministry gave permission for the purchase recently. The notice expires on Saturday and the Salt Trading Corporation officials say that they are still not sure whether they will be able to import sugar before Dashain or not.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Brajesh Jha, departmental head of the Salt Trading Cororation, said that since there are only 10 days left for Dashain, nothing can be said about whether or not subsidized sugar will come before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“It also depends on who gets the tender. If a tender is given to an Indian company, the sugar will come within 1 day. It is not possible to say anything at this time. We will try but there is no guarantee that it will come," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18928', 'image' => '20231008110732_sugar.jpg', 'article_date' => '2023-10-08 11:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">October 9: Newly-appointed European Union Ambassador to Nepal, Véronique Lorenzo, shared that green recovery, human capital and federalism are the three main agendas of the EU for Nepal. The newly appointed ambassador made such remarks during an interaction program with Nepali journalists at the EU delegation Office in Lazimpat on Monday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"We have three priorities on our agenda for Nepal. The first one is green recovery investment in clean energy. The second priority is human capital, and we have been investing in education for the last 30 years. There are good results but there is a lot to achieve in terms of the quality of education. We are working on access, inclusion and also on bigger agendas. The third one is governance, essentially to assist in the implementation of the federalism," said Lorenzo. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Besides, she shared that her priority is to reach out to the widest audience possible in Nepal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“Young people understand better what the priorities are and what the problems are,” the EU envoy added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The coming year marks the 50th anniversary between Nepal and the European Union, and Lorenzo shared that she wants to make it grand by organizing several events. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">"We have 50 years of EU-Nepal relations coming next year and we would like to make it a grand celebration and have several events in different areas. The intention behind this is to reach out to the widest audience because often people don't understand the EU, why it was formed and why it is there. So it is a wonderful political project to achieve which we think needs to be shared with the widest audience," she added. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">She also took time to condemn the attack on Israel as a “terrible attack”. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">She also pledged to continue supporting Nepal when it graduated to a middle-income country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Regarding the EU’s restriction on Nepali airlines for more than 10 years, Lorenzo shared that there has been progress in Nepal’s aviation sector and are awaiting a report from EU’s assessment mission before the ban can be lifted. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to Lorenzo, the assessment mission was held from September 11 to 15. It was a technical mission led by the European Commission with the participation of EASA and experts from member states. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">“They conducted their assessment and are in the process of writing a report. This report will go to the Air Safety Committee of EU. The committee will review the report and decide if Nepal can be removed from the air safety concern list. The air safety committee will meet on November 14 -16th and make its decision public,” she added. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18942', 'image' => '20231009042159_image (1).jpg', 'article_date' => '2023-10-09 16:21:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19213', 'article_category_id' => '1', 'title' => 'Government Decides to Keep Plane on Stand-by to Bring Bodies of Nepalis Killed in Israel ', 'sub_title' => '', 'summary' => 'October 9: The government has decided to keep a plane on ready position and establish coordination with the Israeli side to bring back home the bodies of Nepali nationals killed in the ongoing conflict 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 9: The government has decided to keep a plane on ready position and establish coordination with the Israeli side to bring back home the bodies of Nepali nationals killed in the ongoing conflict in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Coordination Mechanism headed by Minister for Foreign Affairs NP Saud took a decision to this effect on Monday. The government on Sunday formed the Mechanism to take the required decision in the aftermath of the ongoing conflict in Israel and the Nepali nationals affected due to this. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also decided to find out a way to relocate the Nepali citizens in Israel to safe areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mechanism is tasked with figuring out the condition of Nepali citizens, taking the required decision in case rescue has to be carried out, establishing coordination and providing assistance etc after carrying out regular monitoring and overall assessment of the situation in Israel. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Nepal’s Embassy in Israel, at least ten Nepali students have been killed in Israel following a terrorist attack by Hamas militants on Saturday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18941', 'image' => '20231009025226_naccccc.jpg', 'article_date' => '2023-10-09 14:51:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19212', 'article_category_id' => '1', 'title' => 'Thamel's Tourism Business Bounces Back ', 'sub_title' => '', 'summary' => 'October 9: Mobility of tourists has visibly increased in Thamel – the main tourism hub in the capital city – with the advent of autumn season. Tourism entrepreneurs are elated with the increase in arrival of tourists. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 9: Mobility of tourists has visibly increased in Thamel – the main tourism hub in the capital city – with the advent of autumn season. Tourism entrepreneurs are elated with the increase in arrival of tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The entrepreneurs had come across financial trouble with a sharp fall in the inflow of tourists in the wake of the devastating Gorkha earthquake, trade embargo and coronavirus pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A new hope is simmering among the entrepreneurs due to the gradual rise in the arrival of tourists with the onset of tourism season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The influx of foreign tourists has increased in Thamel of late, said Thamel-based restaurant operator Bhagawan Thapa, who has been offering Thakali cuisine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Earlier, hardly 10-15 domestic and foreign guests used to visit my restaurant daily. But the number has increased to 45-50 per day this month and most of them are foreigners," he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kiran Dev Ghimire, who has been operating a stationery shop in Thamel for the past one-and-a-half decades, said that the inflow of foreign tourists has increased in Thamel lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, tourists have been facing trouble in lack of proper maintenance of dilapidated roads in Thamel, he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Fancy cloth operator Sitaram Regmi commented that business volume has not increased in Thamel despite the rise in tourism activities. "Fancy business transactions have dropped in Thamel this year compared to last year," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hotel business has a different story in Thamel. The occupancy in Thamel-based hotels has increased with rising flow of tourists. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mahesh Phuyal, operator of Thamel-based four-star hotel Ramada Encore, said hotel rooms have been booked for the autumn season since a month before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sahadev Dhamala, proprietor of a hotel in Thamel, however said tourism business in Thamel has not been as anticipated due to short-term stay of tourists of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhamala, who is also the vice-chairperson of Thamel Tourism Development Council, said the Council has been holding discussions with different agencies on the measures to prolong the stay of foreign tourists in Thamel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Nepal Tourism Board, a total of 692,372 tourists have entered Nepal via air routes in the first nine months of the year 2023. Among them, 91,012 tourists arrived in Nepal in the month of September alone. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18940', 'image' => '20231009013120_20151124040023_tourism.jpg', 'article_date' => '2023-10-09 13:30:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19211', 'article_category_id' => '1', 'title' => 'Business of Non-Life Insurance Companies Focused on Veicle and Property Insurance', 'sub_title' => '', 'summary' => 'October 9: The business of non-life insurance companies in Nepal is focused on vehicle insurance and property insurance.', '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 business of non-life insurance companies in Nepal is focused on vehicle insurance and property insurance. According to the Nepal Insurance Authority, 80 percent of the insurance policies issued in the first two months of the current fiscal year (FY 2023/24) involve vehicle insurance and property insurance. Experts in this field say that vehicle and property insurances are compulsory as compared to other insurances.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority, 409,080 insurance policies have been issued in two months of the current fiscal year. Among them, 79.44 percent of the insurance policies are related to vehicle insurance and property insurance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In mid-July to mid-September, insurance companies have issued a total of 233,860 (57 percent) vehicle insurance and 91,101 (22 percent) property insurance.</span></span></span></span></p> <p><span style="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 lowest is the air insurance policy issued in the review period. During this period, 18 insurance policies of air insurance were issued.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the authority, 76 percent of the 445,371 insurance policies issued during the corresponding period of last fiscal year were vehicle and property insurance. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the first two months of the current fiscal year, non-life insurance companies have collected a total of Rs 7.80 billion through insurance premium including 28.06 percent (Rs 1. 98 billion) collected from vehicle insurance and 26.76 percent (Rs 1.89 billion) from property insurance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Former Chairman of Nepal Insurance Authority Chiranjeevi Chapagain says that since vehicle and property insurance are compulsory, the issuance of insurance policies is higher in these two segments than other types of insurances. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Vehicle and property insurance is mandatory in Nepal. The Transporttion Act itself has mentioned that vehicle insurance should be made compulsory," he said, adding, "Similarly, the central bank has also made property insurance compulsory when taking a loan from banks."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chapagain says that instead of making insurance mandatory, it should be encouraged to do so spontaneously. "In order to encourage insurance spontaneously, it is necessary for companies to increase credibility by paying claims on time," says Chapagain.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18939', 'image' => '20231009121727_1696824685.1620254944.nlf.jpg', 'article_date' => '2023-10-09 12:16:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19210', 'article_category_id' => '1', 'title' => 'NRB to Issue New Notes from Next Monday', 'sub_title' => '', 'summary' => 'October 9: Nepal Rastra Bank is preparing to issue new currency notes from October 16, targeting festivals like Dashain and Tihar.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">October 9: Nepal Rastra Bank is preparing to issue new currency notes from October 16, targeting festivals like Dashain and Tihar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a notification on Sunday, the central bank said that its Currency Management Department as well as designated branches of commercial banks will issue the new notes. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the notification mentions that currency exchange facilities will be available in the regional offices of the central bank and the branches designated by the commercial banks outside the valley. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the past few years, commercial banks have also been issuing new notes apart from the central bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank will provide exchange facility up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per person this year, in which one packet of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">will be available. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB, which did not issue new notes for two years due to the Covid-19 pandemic, started offering the facility before Dashain from last year.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18938', 'image' => '20231009112710_1696820897.1664663994.Clipboard16.jpg', 'article_date' => '2023-10-09 11:26:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19209', 'article_category_id' => '1', 'title' => 'Nepal's Embassy in Israel Confirms 10 Nepali Students Dead, One Missing in Hamas Attack ', 'sub_title' => '', 'summary' => 'October 9: Nepal's embassy in Israel has confirmed that 10 Nepali students died in the terrorist attacks in various places of Israel while one has gone missing. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 9: Nepal's embassy in Israel has confirmed that 10 Nepali students died in the terrorist attacks in various places of Israel while one has gone missing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy was holding discussion with the concerned Israeli officials for the management of the dead bodies, and coordinating with the Foreign Ministry here to bring the dead bodies back home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Those killed in Hamas attacks have been identified as Narayan Prasad Neupane from Ghodaghodi-4, Kailali; Ganesh Kumar Nepali from Jayprithvi-6, Bajhang; Ashish Chaudhary from Bauniya-3, Kailali; Dipesh Raj Bista from Lekham-5, Darchula; Lokendra Singh Dhami from Mallikarjun-4, Darchula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Anand Saha from Sapahi-6, Dhanusha; Rajesh Kumar Swarnakar from Madhuwan-1, Sunsari; Rajan Phulara from Panchali-3, Doti; Padma Thapa from Lamikhal-8, Doti; and Prabesh Bhandari from Sharada-3, Salyan were also killed in the terrorist attack in Israel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The embassy further informed that six Nepalis injured in the attacks were receiving treatment at different hospitals. Bipin Joshi from Bhimdatta Municipality-3, Kanchanpur has gone missing. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18937', 'image' => '20231009104726_XxjpbeE007115_20231008_PEPFN1A001.JPG', 'article_date' => '2023-10-09 10:46:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19208', 'article_category_id' => '1', 'title' => 'Rains Damage Rice Crops in Chitwan', 'sub_title' => '', 'summary' => 'Recent heavy rainfall, attributed to a delayed monsoon, has wreaked havoc on rice crops in Chitwan. According to Umaraj Aryal, an officer at the Agriculture Knowledge Centre in Chitwan, approximately two percent of the rice crops in the district have suffered damage due to the untimely rains during the harvest period.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 9: Recent heavy rainfall, attributed to a delayed monsoon, has wreaked havoc on rice crops in Chitwan.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> According to Umaraj Aryal, an officer at the Agriculture Knowledge Centre in Chitwan, approximately two percent of the rice crops in the district have suffered damage due to the untimely rains during the harvest period.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In specific regions of eastern Chitwan and Bharatpur, where farmers had already cut their rice plants, the downpour further complicated matters by delaying the storage process. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The rice harvest season is scheduled to commence in most parts of Chitwan in about a week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Eastern Chitwan, known for its irrigation facilities, typically completes rice transplantation by the end of June. Unfortunately, Sunil Dawadi of Sharanpur in Bharatpur metropolis-16 shared that the heavy rains submerged the rice plants he had left to dry in the fields. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dawadi, visibly disheartened, mentioned that he had even hired workers from Rautahat and invested Rs 25,000 in labor costs for the rice transplantation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Madhumaya Khanal from Sharanpur echoed the sentiment, explaining how the rains had damaged the rice plants that had already been cut during the harvest process. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Farmers in the region are deeply concerned about the adverse impact of the rain on their ready-for-harvest rice plants. The rice is cultivated across approximately 27,000 hectares of land in Chitwan. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-09', 'modified' => '2023-10-09', 'keywords' => '', 'description' => '', 'sortorder' => '18936', 'image' => '20231009060955_collage (2).jpg', 'article_date' => '2023-10-09 06:08:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19207', 'article_category_id' => '1', 'title' => 'Record-Breaking China Brings Curtain Down on Biggest Asian Games', 'sub_title' => '', 'summary' => 'October 8: Hosts China racked up a record 201 gold medals before the curtain came down on two weeks of tears and triumphs at the Asian Games in Hangzhou on Sunday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Hosts China racked up a record 201 gold medals before the curtain came down on two weeks of tears and triumphs at the Asian Games in Hangzhou on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, the 19th and biggest Asiad concluded at the 80,000-capacity Olympic stadium with China handing over the hosting rights to Japan for 2026 edition at a celebratory closing ceremony.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dancers holding lit-up props fanned out towards the audience in a performance evoking ocean waves while the words "love Asia" were projected on a big screen, added the French news agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the closing ceremony, a spectator surnamed Xia told AFP that the Games made her feel "very moved and proud".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The Chinese team did great," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Taiwan's Gu Shiau-shuang won the final gold earlier in the day when she successfully defended her title in women's karate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But it was the hosts who dominated over much of the fortnight, their 201 golds beating the 199 they collected at Guangzhou 2010.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Their exploits across the 40 sports at the Games reinforced China's status as Asia's sporting superpower, topping the medals table at every Asian Games since 1982, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With about 12,000 athletes, this was the biggest Asian Games in history and had more competitors than the Olympics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chinese swimmers Zhang Yufei and Qin Haiyang were named the Games MVPs and it was in the pool where the hosts were especially impressive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They won 28 swimming golds -- Zhang and Qin accounting for 11 of them -- to send a warning of what they can do in Paris.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan were a distant second in the final medals table with 52 golds, down from 75 at Jakarta in 2018, and South Korea third on 42.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's pinpoint archers and shooters helped propel the country to 107 medals, their best showing ever.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal, on the other hand, secured just two medals – one silver and a bronze. Despite the disappointing run, Nepal made some great achievements, including world records in cricket event under the games.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s national cricket team became the first men's team to score more than 300 runs in T20 international cricket as they rewrote the record books against part-timers Mongolia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They made 314-3 in their 20 overs, beating the previous highest of 278-3 held by Afghanistan against Ireland in 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Teenager Kushal Malla crashed the fastest T20 international century, off 34 balls, and ended up 137 not out off 50.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dipendra Singh Airee finished the innings in ridiculous fashion. He raced to his fifty off nine balls, another T20 world record, with eight sixes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's 26 sixes were also the most scored in a T20 innings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Nepal’s silver medal haul in karate by Arika Gurung matched the country’s 25-year-old record held by taekwondo player Sabita Rajbhandari, who had secured silver in the 1998 Asian Games. It was also the first silver secured by Nepal in an individual event. In between, Nepal’s paragliding team had won a silver medal in a group event.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepal’s women’s kabaddi team also won bronze medal in its Asian Games debut in otherwise forgettable performance by Nepali players.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18935', 'image' => '20231008090730_069464-01-02.jpg', 'article_date' => '2023-10-08 21:06:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19206', 'article_category_id' => '1', 'title' => 'NEPSE Index Tumbles by 35.67 Points; Investors Wave Red Flag to NRB Circular', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index lost 35.67 points or 1.82% and closed at 1921.24 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 8: The Nepal Stock Exchange (NEPSE) Index lost 35.67 points or 1.82% and closed at 1921.24 points on the first trading day of the week, Sunday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Today’s heavy fall reflects share investors’ dissatisfaction to the Nepal Rastra Bank’s circular to raise the cap of the margin lending from Rs 120 million to Rs 150 million for individuals and Rs 200 million for institutional investors. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They had been demanding for the removal of the upper caps on the margin loan. However, the central bank had changed the upper caps by slightly increasing the limit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stock market experts and analysts, however, say that market has decreased due to various reasons. Prices of the many companies have come at the bottom level, suitable for investors to purchase. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, as many as 289 different stocks were traded in the NEPSE index. A total of 5,815,189 units of shares exchanged their hands, amounting to the total turnover of Rs 1.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover, reaching Rs. 6.73 crores, and closed at a market price of Rs. 519.90.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Barahi Hydropower Public Limited (BHPL) witnessed the highest gain of 9.59%, followed by Siddhartha Investment Growth Scheme - 2 (SIGS2) with a gain of 9.40%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the flip side, Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL) and Garima Debenture, 2085 (GBBD85) experienced the highest loss of 10% 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 closed in red territory. "Hydropower Index" lost the highest 2.72% while "Mutual Fund Index" lost the least 1.08% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index declined by 1.55%, while Float Index and Sensitive Float Index lost 1.83% and 1.68% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18934', 'image' => '20231008045601_collage (15).jpg', 'article_date' => '2023-10-08 16:54:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19205', 'article_category_id' => '1', 'title' => 'CAAN Allows Korean Air to Operate Flights to and from Nepal', 'sub_title' => '', 'summary' => 'October 8: Korean Air has been allowed to continue its flights to and from Nepal.', '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 8: Korean Air has been allowed to continue its flights to and from Nepal.</span></span></span></span></p> <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 Civil Aviation Authority of Nepal (CAAN) recently revoked its earlier decision to bar Korean Air from operating flights to Nepal.</span></span></span></span></p> <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"">CAAN had sent a letter to Universal Travels in mid-September instructing the Nepal-based general sales agent of Korean Air not to sell tickets anymore.</span></span></span></span></p> <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"">CAAN took such drastic measures after failure of Nepal Airlines Corporation (NAC) to get permits to operate flights to South Korea.</span></span></span></span></p> <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"">As per the bilateral air agreement between Nepal and South Korea, the Korean Air has been operating flights to Nepal without any hindrance, but the national flag carrier of Nepal, NAC, has not been able to fly to South Korea.</span></span></span></span></p> <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"">CAAN, which had earlier sent a letter not to sell Korean Air flight tickets, issued a notice on Friday and informed that the airline company can operate flights to and from Nepal. </span></span></span></span></p> <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 authority has said that Korea Air's Incheon-Kathmandu-Incheon flight will be operated regularly. </span></span></span></span></p> <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"">CAAN withdrew its decision to ban the flights of Korean Air after reaching an understanding with the Korean authorities to discuss the matter during an upcoming conference to be held in Dhaka, Bangladesh from October 15 to October 20. The 58th Conference of Civil Aviation Directors General of the Asia Pacific Region is being held in Dhaka next week.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, a CAAN official said that the letter of intent to grant permission to Nepal Airlines Corporation to fly to Korea has been received from the aviation governing body of South Korea. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He said that necessary preparations are being made to conduct flights to South Korea.</span></span></span></span></p> <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"">Nepal Airlines Corporation had made repeated attempts to operate flights to South Korea but in vain.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18933', 'image' => '20231008030912_1696728828.1590998498.jpg', 'article_date' => '2023-10-08 15:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19204', 'article_category_id' => '1', 'title' => 'British Council Nepal Awards Top Performing IELTS Registration Agents', 'sub_title' => '', 'summary' => 'October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">October 8: The British Council Nepal recently honoured its top performing IELTS agents in Nepal during the IELTS Partner Summit. The event was held at the Soaltee Hotel in Kathmandu on September 29. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The Educational Consultancy Association of Nepal (ECAN) was declared the top-performing association and the top-performing institute was Orbit Medical Entrance Pvt. Ltd, according to the British Council Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Issuing a press statement on Friday, the British Council said that a total of 48 awards were presented in various categories, including the top 10 IELTS registration partners, overall high-performing partners, and top performing partners in Biratnagar, Birtamode, Butwal, Chitwan and Pokhara. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to the statement, the event brought together a range of IELTS partners to celebrate the British Council Nepal’s work in helping young Nepali students and professionals gain access to international education and career development opportunities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“The celebration reflected the strong relationship between the British Council and IELTS partners and it reinforced our collective commitment towards enhancing education opportunities in Nepal by connecting Nepalese with international qualifications from diverse fields,” reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The event recognised outstanding partners and stakeholders who demonstrated exceptional commitment and support in terms of IELTS volume contributions from April 2022 to March 2023, added the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On the occasion, British ambassador to Nepal Rob Fenn said that English has become the best medium of learning, for business, for finance and is regarded as the development language. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">“I hope that Nepalese learning English and pursuing higher education internationally will come back and build the country,” said Fenn.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Maxim Raimann, country exams director of British Council Nepal, said that it was an “absolute pleasure and honour to get this opportunity to thank all our IELTS partners for their contribution to our mission in Nepal. We are committed to continuing to work with local educators and consultants to ensure that young Nepalese can easily access life-changing international educational opportunities.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18932', 'image' => '20231008024614_IELTS Partner Summit 2023.jpg', 'article_date' => '2023-10-08 14:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19203', 'article_category_id' => '1', 'title' => 'Landslide Blocks Kimrongkhola Forming a Lake ', 'sub_title' => '', 'summary' => 'October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 8: Kimrongkhola, a local river in Annapurna Rural Municipality-11 has been blocked by a landslide resulting in the formation of a lake. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ward chair Him Bahadur Gurung of Annapurna-11 confirmed that the river has been blocked by a landslide forming a lake, which poses a significant risk to the settlements downstream.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The risks still remain high as the pool of water started flowing since 11 am today, he told the state-owned RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Kimrongkhola was blocked by a landslide last night. The pool of water has started flowing after 15 hours. We have asked everyone to stay alert as there is a possibility of damage if it bursts suddenly," RSS quoted Gurung as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kimrongkhola, a tributary of the Kali Gandaki, flows into the Modi river through Jhinodanda of the ward-7 and 11 in Annapurna Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the people living on the riverbanks of wards 7, 8, 10 and 11 in Annapurna Rural Municipality have been asked to be alert and safe.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, spokesperson of the rural municipality Bharat Man Gurung said that people's representatives of the respective wards, the police posts in Birethanti and Nayapul and the locals have been informed about the river blockade and its potential threat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that flash flood in northeast India recently killed at least 56 people while thousands were stranded in the deluge.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that violent torrents stuck the remote state of Sikkim on Wednesday after the sudden bursting of a high-altitude glacial lake near India's borders with China and Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various studies conducted by ICIMOD and other organisations have warned of potential risks of glacial lake outburst floods in parts of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The area where the river was blocked on Saturday night is close to the Seti River, which witnessed a massive flash flood in 2012. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Most recently, Mustang district’s Kagbeni was hit by a flashflood in August incurring losses worth millions to physical infrastructure. However, human casualty was averted due to timely intervention by the local authorities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18931', 'image' => '20231008020000_Untitled.jpg', 'article_date' => '2023-10-08 13:59:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19202', 'article_category_id' => '1', 'title' => 'Nepal, Romania Sign Labour Agreement', 'sub_title' => '', 'summary' => 'October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 8: Nepal and Romania have signed a memorandum of understanding in the fields of labour and social protection.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The two countries signed the MoU at the Ministry of Labour and Social Solidarity of Romania on Friday, October 6. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Labour, Employment and Social Security of Nepal Sharat Singh Bhandari and Minister for Labour and Social Solidarity of Romania Simona Bucura-Oprescu, signed the MoU on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The signing of the MoU was preceded by a bilateral meeting between the high-level </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">delegations, states a press release issued by the Embassy of Nepal in Berlin, Germany. On the occasion, the two ministers shared views, primarily, on the agenda of </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal-Romania bilateral relations, labour migration, Nepal's commitment to legal migration, workers' welfare, dignity, security, and vocational training. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the two ministers expressed happiness over the growing relations between the two countries in recent years and stated that the signing of tfie MoU would be the first step in the roadmap towards fair, ethical, and legal migration of Nepali workers to Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhandari also expressed his willingness to collaborate with the friendly Government of Romania in all sectors of mutual benefits. He further stated that Nepal is aware of gender-friendly recruitment approach and is ready to cooperate on this matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bucura-Oprescu also assured the visiting delegation that the Nepali workers working legally in Romania are entitled to equal rights as that of Romanian citizens. The Romanian side informed the Nepali delegation regarding the need of Romanian labour market, especially in the fields of construction, services, hospitality and agriculture. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of now, 15,590 Nepali workers are employed in Romania which is the second largest among the foreign citizens from non-EU countries in Romania. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation led by Minister Bhandari includes Secretary of the Ministry of Labour; Employment and Social Security, Ram Kaji Khadka, Non-resident Ambassador of Nepal to Romania, and other officials from the Ministry of Labour, Employment and Social Security and Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> The Romanian delegation led by Minister Bucura-Oprescu includes high level officials and heads of relevant departments from the Ministry of Labour and Social Solidarity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation is scheduled to leave for Germany on 8 October. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18930', 'image' => '20231008011804_1696728695.3 romaniya.jpg', 'article_date' => '2023-10-08 13:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19201', 'article_category_id' => '1', 'title' => 'Net Profit of Banks to Increase by Rs 2.5 Billion due to Concession given by NRB', 'sub_title' => '', 'summary' => 'October 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs 2.5 billion in the Nepali month of Asoj (mid-September to mid-October).', '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 8: The net profit of banks and financial institutions (BFIs) is projected to increase by around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the Nepali month of Asoj (mid-September to mid-October).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After Nepal Rastra Bank (NRB) announced to give concessions on the credit loss risk ratio, the amount that banks have to set aside for credit risk from their profit will decrease and the profit will increase.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As per the instructions issued by the central bank on Thursday, it is enough for banks to arrange only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent credit risk on good loans. After the outbreak of the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic, the NRB had instructed banks to set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.30</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of their profit for credit risk on good loans. Prior to that, there was a provision to set aside only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent for credit risk on good loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of Nepal Rastra Bank, commercial banks, development banks and finance companies have extended a total of Rs Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4860</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">84</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion credit as of mid-August</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Banks have set aside a total of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">169</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for risk of this type of loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Now, if the amount to be set aside for risk on good loans is reduced by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">0.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percentage points, around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.43</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion will be added to the profit of banks from the risk fund. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, due to arrangements for micro-monitoring, sub-standard, doubtful and bad loan risk, there will be some reduction in the aforementioned amount. There is a provision that banks should set aside </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for micro-monitoring loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for sub-standard loans, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for doubtful loans and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100%</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> for bad loans. According to the provisions of the integrated directive, loans that are overdue for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months are classified as sub-standard loans, loans that are overdue for </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> months to at most one year as doubtful loans, and loans that are overdue for more than one year are classified as bad loans.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bad loans of banks are increasing due to the slump in economic activities. In this situation, the banks have been a relief by the NRB’s decision to give concessions in the credit loss risk. </span></span></span></span></p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18929', 'image' => '20231008120234_NRBnew.jpg', 'article_date' => '2023-10-08 12:01:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19200', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Sugar', 'sub_title' => '', 'summary' => 'October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">October 8: With the festival of Dashain just around the corner, there has been an artificial shortage of sugar in the market. At a time when the people consume more sugar than normal, the state-owned company entrusted with the import and distribution of sugar at subsidized rates does not have stock of sugar. There is no possibility of government importing subsidized sugar before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Taking advantage of the lack of sugar with the government, traders have increased the price of sugar arbitrarily creating an artificial shortage of the essential item in the market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Retail Trade Association, which had set the retail price of sugar at Rs 130 per kg until a few days ago, says that it has now stopped fixing the price of sugar. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pabitra Bajracharya, president of the association, said that the association did not fix the price of sugar after the big traders caused an artificial shortage of sugar and left the retail traders in the lurch. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“We don't have sugar either. Some traders are selling sugar that they had bought at less price. If the big traders don't give us sugar, what will we do even if we set the price?'' she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Since the association did not fix the price, there is no uniformity in the price of sugar in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It has been found that the shopkeepers have been arbitrarily selling sugar at prices ranging from Rs 135 to 140 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Suresh Sharma, who came to buy sugar in Kathmandu's Asan on Thursday, said that he bought a kilogram of sugar at Rs 140 after visiting four to five shops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Stakeholders say that the possibility of subsidized sugar arriving in the market before Dashain is very low while the artificial shortage has created chaos in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Gajendra Kumar Thakur, joint secretary at the Ministry of Industry, Commerce and Supplies, said that although the government took a diplomatic initiative to import 50,000 tons of sugar from India through the G2G process on July 21 in an attempt to control black marketing, there has been no response from the Indian side so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, since the Indian side has not shown any interest in supplying sugar so far, it is uncertain whether the sugar will come through G2G process before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the information given by Sharmila Subedi, information officer of the Food Management and Trading Company, the state-owned company had called for a 45-day global bid on September 27 to purchase sugar. However, there is less than two weeks for the Dashain festival to begin. Therefore, it is certain that subsidized sugar will not arrive before Dashain. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"To prevent this current situation from happening, we requested permission from the Ministry of Finance to buy sugar early through the Ministry of Supplies. However, despite our timely effort, we could not bring sugar before Dashain because the finance ministry did not release the budget,'' she told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Salt Trading Corporation issued a 15-day notice and called for bids with the aim of importing sugar through fast track and bringing it before Dashain after the finance ministry gave permission for the purchase recently. The notice expires on Saturday and the Salt Trading Corporation officials say that they are still not sure whether they will be able to import sugar before Dashain or not.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Brajesh Jha, departmental head of the Salt Trading Cororation, said that since there are only 10 days left for Dashain, nothing can be said about whether or not subsidized sugar will come before Dashain.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“It also depends on who gets the tender. If a tender is given to an Indian company, the sugar will come within 1 day. It is not possible to say anything at this time. We will try but there is no guarantee that it will come," he said.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-08', 'modified' => '2023-10-08', 'keywords' => '', 'description' => '', 'sortorder' => '18928', 'image' => '20231008110732_sugar.jpg', 'article_date' => '2023-10-08 11:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
