Chief Minister of Gandaki Province, Surendra Raj Pandey, said that preparations have been completed to open the Korala cross-border checkpoint in…
Chief Minister of Gandaki Province, Surendra Raj Pandey, said that preparations have been completed to open the Korala cross-border checkpoint in…
October 5: The Supreme Court issued a ‘show cause order’ to the government regarding the provision under the Finance Act 2080 that requires payment of tax on income earned through the merger or acquisition of companies and through the issuance of further public offering (FPO) of…
October 5: Thirty-eight nations have so far won medals at the ongoing 19th Asian Games while China continues to remain at the top of medals…
October 5: The Industry and Commerce, and Labour and Consumer Interest Committee under the House of Representatives has instructed the government to ensure smooth supply of daily essentials during festivals of Dashain, Tihar and…
October 5: The weather across the country has improved from Thursday after continuous rainfall for the past five…
October 5: Experts have suggested the government make public the report prepared by the Eminent Persons Group (EPG) on Nepal-India…
October 5: The Government of Nepal is all set to enter into bilateral labour agreements with two European countries, Germany and Romania, in a move aimed at facilitating labour migration and employment opportunities for Nepali workers…
Chitwan’s Sauraha, the third-largest tourist destination in the country, is wearing a deserted look. Even though the tourism season has started, tourists are not coming, leaving business owners disappointed. The tourism season has set in, but hotel bookings are not made, rendering tourism entrepreneurs…
October 4: Edible oil industries opened in the border areas targeting the Indian market are now forced to sell oil at throw-away prices.…
The Nepal Stock Exchange(NEPSE) Index gained 9.24 points or 0.47% and closed at 1967.97 points on the fourth trading day of the week, Wednesday. The index lost 17.56 points…
October 4: Total deposits in banks and financial institutions have exceeded Rs 5800…
October 4: The Ministry of Industry, Commerce and Supply published a notice in the N.epal Gazette on Monday informing that Foreign Direct Investment (FDI) up to Rs 500 million will be approved through the automated…
October 4: With the beginning of the peak tourism season in Nepal, the country has seen an increase in arrival of tourists.…
October 4: Members of Parliament have expressed concern over the exorbitant price hike of daily essentials and ethnic and communal clashes erupting in different parts of the…
October 4: Chief Executive Officer of Millennium Challenge Corporation (MCC), Alice Albright has said she is confident and optimistic for the timely completion of the MCC…
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Due to the COVID-19 pandemic, the trade fair, held biannually at the Korala checkpoint, has not taken place since 2076 BS.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, Chief District Officer of Mustang, Janak Raj Pandey, mentioned that Chinese officials are willing to open the checkpoint, and talks with them are scheduled. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">There are also plans to permit cross-border movement for residents living within approximately 30 kilometers of the checkpoint based on identity card verification.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Following an inspection of the checkpoint, meetings were conducted by the Gandaki Province-level security committee and Mustang district-level security committee in Korala. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">A delegation consisting of Chief Minister Pandey, federal parliament members, and province assembly members visited more than 10 bordering villages, engaging in discussions with locals about the status of provincial government projects, the budget allocation for the current fiscal year, and addressing the concerns of the residents, said Narahari Sapkota. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18911', 'image' => '20231005054242_collage (13).jpg', 'article_date' => '2023-10-05 17:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19181', 'article_category_id' => '1', 'title' => 'SC Issues Show Cause Order for Taxation on Income Earned from Merger and FPO Issuance', 'sub_title' => '', 'summary' => 'October 5: The Supreme Court issued a ‘show cause order’ to the government regarding the provision under the Finance Act 2080 that requires payment of tax on income earned through the merger or acquisition of companies and through the issuance of further public offering (FPO) of shares.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">October 5: The Supreme Court issued a ‘show cause order’ to the government regarding the provision under the Finance Act 2080 that requires payment of tax on income earned through the merger or acquisition of companies and through the issuance of further public offering (FPO) of shares.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The banks had filed separate writ petitions against the provisions of the Finance Act arguing that the profits from mergers and acquisitions and dividends from share premiums should not be subjected to income tax. The banks sought injunctions and interim orders in both the writs. The constitutional bench of the SC issued the show cause order on Wednesday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Govinda Prasad Ghimire, information officer of SC, informed that both the parties were called for a discussion on November 8.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">On Wednesday, Supreme Court’s full bench chaired by Chief Justice Bishwambhar Prasad Shrestha along with justices Ishwar Prasad Khatiwada, Dr Ananda Mohan Bhattarai, Prakash Kumar Dhungana, and Sushma Lata Mathema presided over the hearings on both the cases. The first hearing of the writ filed on September 15 was adjourned due to the fact that it was not sent for hearing on September 27.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Standard Chartered Bank and Nepal SBI had filed a writ against the provision of tax on issuance of FPO at premium rate. Likewise, Sanima Bank, Siddhartha Bank, NIC Asia Bank, Kumari Bank, Himalayan Bank, Prime Commercial Bank, Prabhu Bank, Global IME Bank, Laxmi Sunrise Bank, and Machhapuchhre Bank filed a writ against the provision of taxation on gains through merger/acquisition. Similarly, Citizens Bank, NMB Bank, Nabil Bank and Nepal Investment Mega Bank have filed writs in both cases.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In the writ petition, it has been claimed that the provision of taxation on profit received through merger or acquisition and issuance of FPO at premium rate is an ‘ex post facto taxation' and it is against the constitution.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18909', 'image' => '20231005021316_Supreme Court.jpg', 'article_date' => '2023-10-05 14:12:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19180', 'article_category_id' => '1', 'title' => '38 Nations Win Medals at Asian Games, China Tops Medal Tally ', 'sub_title' => 'Nepal Assured of Medal in Women's Kabaddi ', 'summary' => 'October 5: Thirty-eight nations have so far won medals at the ongoing 19th Asian Games while China continues to remain at the top of medals tally. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Thirty-eight nations have so far won medals at the ongoing 19th Asian Games while China continues to remain at the top of medals tally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of Wednesday, 38 of the total 45 countries participating in the event won medals while China remained at the top with 319 medals: 172 gold, 95 silver and 52 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Japan is in the second place with 147 medals including 37 gold, 51 silver and 59 bronze followed South Korea with 148 medals including 33 gold, 45 silver and 70 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India is fourth with 81 medals, comprising 18 gold, 31 silver, and 32 bronze, while Uzbekistan is fifth with 54 medals, including 16 gold, 16 silver, and 22 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chinese Taipei has secured the sixth position with 13 gold, 14 silver, and 21 bronze, while Thailand is in seventh place with 10 gold, 12 silver, and 24 bronze, with a total of 46 medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bahrain holds the eighth position with 16 medals, including 10 gold, one silver, and five bronze. North Korea is in the ninth position with nine gold, 12 silver, and eight bronze medals, with a total of 29 medals while Hong Kong lies in the 10th position with seven gold, 15 silver, and 28 bronze. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal secures medal in Women's Kabaddi</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has avoided the possibility of returning home without a medal in the 19th Asian Games as the women's kabaddi team by reaching the semi-finals as the runner-up from Group 'B' on Wednesday. With this, Nepal assured of at least one medal in Hangzhou. There is a provision that all four teams that reach the semi-finals in kabaddi will receive medals. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18908', 'image' => '20231005013758_XxjpseE009522_20231004_PEPFN1A001.JPG', 'article_date' => '2023-10-05 13:37:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19179', 'article_category_id' => '1', 'title' => 'Parliamentary Panel Directs Government to Ensure Smooth Supply of Daily Consumables during Festivals', 'sub_title' => '', 'summary' => 'October 5: The Industry and Commerce, and Labour and Consumer Interest Committee under the House of Representatives has instructed the government to ensure smooth supply of daily essentials during festivals of Dashain, Tihar and Chhath. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Industry and Commerce, and Labour and Consumer Interest Committee under the House of Representatives has instructed the government to ensure smooth supply of daily essentials during festivals of Dashain, Tihar and Chhath. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the committee on Wednesday directed the government to increase the number of fair-price shops, ensure adequate supplies of food to the remote areas including Karnali and intensify market monitoring during the festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing about the decisions of the meeting with media, committee President Abudul Khan said the government has been instructed to take additional efforts to ensure smooth supplies of food during the festivals. </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 government’s decision to launch the fair-price shop targeting upcoming festivals is welcoming," he said, adding that the number of such outlets should be increased. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the government has been asked for taking measures to prevent the potential market irregularities such as artificial price-hike, food adulteration, black marketing and artificial shortages during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the committee held discussions with betel nuts producers and suppliers and representatives from the Ministry of Industry, Commerce and Supplies regarding issues related to the exports of betel nuts. The meeting also decided to take further updates about the issues from stakeholders. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'parliament, committee, consumer, festivals, smooth, supply, daily, essentials, black, marketing, artificial, shortage, hoarding, price, hike', 'description' => '', 'sortorder' => '18907', 'image' => '20231005124641_iStock_000034378286Small-1.jpg', 'article_date' => '2023-10-05 12:45:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19178', 'article_category_id' => '1', 'title' => 'Weather Improves after Five Days of Rainfall ', 'sub_title' => '', 'summary' => 'October 5: The weather across the country has improved from Thursday after continuous rainfall for the past five days. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The weather across the country has improved from Thursday after continuous rainfall for the past five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the atmospheric condition is expected to steadily improve further. Meteorologist Govinda Jha said the eastern parts of the country has been under the partial influence of a low-pressure system which is now in the process of shifting to the northwest and weakening. Such shift will have its impact on Sikkim and its surrounding areas, as well as Bangladesh. </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"">Jha further said that Koshi Province has thick cloud cover, while skies in other regions are relatively clear at present. Although moderate rainfall is expected for the next two or three days, there is no possibility of heavy rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be partly to generally cloudy today in Koshi Province, Bagmati Province and Gandaki Province and partly cloudy in rest of the country. Light to moderate rainfall with thunder and lightning is likely to occur at a few places of Koshi Province, Bagmati Province and Gandaki Province and at one or two places in rest of the provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the weather is expected be partly to generally cloudy tonight in Koshi Province, Madesh Province, Bagmati Province and Gandaki Province and partly cloudy to mainly fair in rest of the provinces. Light rain or thunder and lightning is likely to occur at a few places of Koshi Province, Madesh Province, Bagmati Province and Gandaki Province. The monsoon, which normally enters Nepal on June 13, withdraws on October 2. This year, however, the monsoon entered Nepal a day later on June 14 and its exit was delayed by a few days. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'weather, Nepal, rainfall, improvement, thunder, cloudy, monsoon, low, pressure, system', 'description' => '', 'sortorder' => '18906', 'image' => '20231005115016_HKC-Jajarkot-shephoksundo.jpg', 'article_date' => '2023-10-05 11:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19177', 'article_category_id' => '1', 'title' => 'Experts Suggest Government to Make EPG Report Public ', 'sub_title' => '', 'summary' => 'October 5: Experts have suggested the government make public the report prepared by the Eminent Persons Group (EPG) on Nepal-India relations. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Experts have suggested the government make public the report prepared by the Eminent Persons Group (EPG) on Nepal-India relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a meeting of the National Concern and Coordination Committee under the National Assembly held on Wednesday, they said the determination of border between the two countries should be finalized and given an official status. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Expressing the view on the issues regarding Nepal-India relations, opportunities, problems and solutions, the experts laid emphasis on implementing the border map prepared by technical mechanism of both the countries taking a long time of 26 years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, EPG member and former Water Resources Secretary, Suryanath Upadhyay, asked the government through parliament to give an official status to the two-country border by determining disputed areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As per border determination, it is necessary to remove encroachment at no man's land, to fence from one side if possible and to implement the mandamus of the Supreme Court regarding border and its regulation," said Upadhyay, adding that local levels and concerned police offices should keep record of Indian nationals in Nepal and it should be updated every six months. According to Upadhyay, labour permit should be effectively implemented in both formal and informal sectors as per the provision of Labour Law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The EPG member further stressed the need to effectively raise the issues like drug smuggling, human trafficking and other criminal activities in the parliament as Nepal is facing challenges in maintaining peace and security due to such activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former Director General of the Department of Survey, Toyanath Baral, said it was necessary to manage border regulation between the two countries in an integrated manner. He also suggested the government to implement the border related map prepared by the EPG. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18905', 'image' => '20231005111322_Flag-Pins-Nepal-India_600x600.jpg', 'article_date' => '2023-10-05 11:12:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19176', 'article_category_id' => '1', 'title' => 'Nepal to Sign Labour Pacts with Germany and Romania', 'sub_title' => '', 'summary' => 'October 5: The Government of Nepal is all set to enter into bilateral labour agreements with two European countries, Germany and Romania, in a move aimed at facilitating labour migration and employment opportunities for Nepali workers abroad.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">October 5: The Government of Nepal is all set to enter into bilateral labour agreements with two European countries, Germany and Romania, in a move aimed at facilitating labour migration and employment opportunities for Nepali workers abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A meeting of the Council of Ministers took a decision to this effect on Tuesday. Minister for Communication and Information Technology Rekha Sharma confirmed that the cabinet has approved the signing of the labor agreements with these two countries. The Ministry of Labour, Employment, and Social Security has been granted the authority to proceed with the agreements.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Minister Sharma also mentioned that a delegation led by Labour Minister Sharat Singh Bhandari will participate in the signing ceremony of the labour agreements with Germany and Romania.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Additionally, the government has given its approval for bilateral talks and air service agreements between Nepal and Switzerland, as well as Nepal and Rwanda.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">In a further development, the cabinet meeting decided to establish a bilateral consultation mechanism between the foreign ministries of Nepal and Malaysia, aimed at enhancing diplomatic and international relations between the two countries. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'Labour, agreement, pact, Nepal, Malaysia, Germany, Romania, Switzerland, Rwanda', 'description' => '', 'sortorder' => '18904', 'image' => '20231005094916_ed.jpg', 'article_date' => '2023-10-05 09:48:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19175', 'article_category_id' => '1', 'title' => 'Sauraha’s Tourism in Crisis: Hotels Empty Despite Start of Season', 'sub_title' => '', 'summary' => 'Chitwan’s Sauraha, the third-largest tourist destination in the country, is wearing a deserted look. Even though the tourism season has started, tourists are not coming, leaving business owners disappointed. The tourism season has set in, but hotel bookings are not made, rendering tourism entrepreneurs disappointed.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 5: Chitwan’s Sauraha, the third-largest tourist destination in the country, is wearing a deserted look. Even though the tourism season has started, tourists are not coming, leaving business owners disappointed. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The tourism season has set in, but hotel bookings are not made, rendering tourism entrepreneurs disappointed. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Tourism entrepreneurs say that Sauraha has received less than 10% of the expected tourists. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Suman Ghimire, the former president of the Regional Hotel Association in Sauraha, they are expecting the tourism business hit hard by COVID to revive and ready to welcome the tourists. However, tourists are not turning up, Ghimire said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ghimire attributes the lack of domestic tourists to the economic downturn in the country. "Firstly, the country is in an economic crisis, and secondly, air travel has become expensive, and the roads are in sorry state," he explains. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ghimire also mentions that the tourists who have come to Nepal are more interested in trekking, and there is an expectation that they might come to Sauraha from the next month.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sauraha is globally recognized. It has its own brand. But, the young generation of tourism entrepreneurs lack the zeal and creativity to introduce new products to attract the tourists to Sauraha. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“We have not been able to introduce new products like our predecessors,” said Deepak Bhattarai, the erstwhile president of the association.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sauraha is known for jungle safaris worldwide. However, most tourists coming here are not interested in jungle safaris these days. Safety challenges in the jungle, issue of animal rights, and other factors have caused a decrease in tourists interested in activities like elephant safaris and jungle walking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The exodus of the youth from the country has dealt a severe blow to the production and consumption in the country, causing setback to the tourism promotion in the country, said Bhattarai. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Economic difficulties, high-interest rates, and increased operating costs have forced some major tourism entrepreneurs to leave the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We did not experience such a crisis even during the time of COVID," says Ganga Giri, the president of the Regional Hotel Association, Sauraha. "Now, the tourist occupancy in Sauraha is less than 10%." </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">When the occupancy is 100% in the hotels and bars, they just make 20% profit. The current scenario of tourist arrivals in Sauraha is pessimistic, forcing entrepreneurs to quit their businesses. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The policy of the federal government and negligence on the part of the local government are responsible for the sorry state of the tourists in Sauraha, say the local entrepreneurs. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18903', 'image' => '20231005060417_collage.jpg', 'article_date' => '2023-10-05 06:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19173', 'article_category_id' => '1', 'title' => 'Fierce Competition Forcing Oil Industries to Sell their Products Below Cost Price', 'sub_title' => '', 'summary' => 'October 4: Edible oil industries opened in the border areas targeting the Indian market are now forced to sell oil at throw-away prices. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 4: </span><span style="font-family:"Arial","sans-serif"">Edible oil industries opened in the border areas targeting the Indian market are now forced to sell oil at throw-away prices. The industrialists are worried that their investment of Rs 15 billion in the oil industry is in peril.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The industrialists say that about two dozen industries will be closed if the government does not provide immediate policy protection. According to an industrialist, the production of one litre of oil currently costs Rs 190.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Industrialists are selling oil at Rs 170 a litre from the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, when India imposed a high rate of customs duty on the import of oil, the industries of Nepal made good income from oil exports taking advantage of the concessions given to Nepal. But now, those industries are on the brink of collapse after India lowered the customs duty. Previously, India used to charge up to 40 per cent duty on oil imported from other countries but only zero to 5 per cent for oil supplied by Nepali industries under SAFTA concession.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Earlier, the export used to be more profitable as the duty paid to the local customs and value-added tax was also refunded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Suresh Rungta, the owner of OCB Food, said that after India adopted a zero-duty policy on imports to control the price of oil in its domestic market, exports from Nepal have come to a standstill. He said that they were forced to sell oil at a loss because it was essential to meet the expenses of the industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">At present, the retail price of cooking oil in the border Indian market is Rs 178 per litre. Industrialists added that the cost of transporting raw materials from Kolkata to Birgunj is Rs 7 per litre. They say that if the processing cost is added, the production cost of one litre of oil will reach Rs 190. Industries of Nepal have been bringing semi-refined oil from Ukraine, Indonesia and Malaysia and processing it here. The industry of Nepal refines sunflower, soybean, palm oil and mustard oil and used to exports them, mostly to India until recently.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">But now, since the export to India is not possible, there is fierce competition between more than two dozen industries in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prabhu Dayal Aggarwal, the owner of Annapurna Vegetable Products, said that he had to do a 'push sale' after the sale stopped.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"Now, there is fierce competition in the domestic market. Oil has to be sold at a lower price than the cost. If the situation like this persists, we will not be able to sustain any longer,'' Agarwal shared.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Currently, 22 industries produce oil. At a time when exports were easy to India, most of the industries expanded their investments. Some new industries were also added. Among them, 14 are based in the Bara-Parsa corridor, and others are in Biratnagar and Bhairahawa. The annual production capacity of such industries is 2.5 million tons. Industrialists say that the domestic market consumption is only 500,000 tons. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Nikhil Chauhan, the owner of Narayani Oil Refinery, shared that this wide gap between production and the market has led to fierce competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">It is said that the Indian government is keeping the interest of the common consumer at the forefront, considering the Lok Sabha elections to be held in 2024.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">India is making many policy changes to make food supply easier and cheaper. There is also control over the export of essential grains like paddy, rice, wheat and sugar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the context of Nepal, the government had reduced the customs duty on the import of raw materials to 1 per cent last year to save the oil industry from the crisis.</span> <span style="font-family:"Arial","sans-serif"">Chauhan said that the current year's budget has removed this concession and brought it back to 10 per cent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal demanded that the government should protect the investment of the domestic oil industry as a matter of policy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chachan also agrees to this demand. He added that if there is a policy of reducing the tariff on the import of raw materials to 1 per cent and giving at least a 10 per cent subsidy on exports, the oil industry can be protected from the current crisis. </span></span></span></p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18902', 'image' => '20231004030739_oil1501009175_7.jpg', 'article_date' => '2023-10-04 15:06:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19174', 'article_category_id' => '1', 'title' => 'NEPSE Index Gains 9.24 Points to Close at 1967.97 Points', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index gained 9.24 points or 0.47% and closed at 1967.97 points on the fourth trading day of the week, Wednesday. The index lost 17.56 points yesterday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 4: The Nepal Stock Exchange(NEPSE) Index gained 9.24 points or 0.47% and closed at 1967.97 points on the fourth trading day of the week, Wednesday. The index lost 17.56 points yesterday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, there were 284 different stocks traded in 58,741 transactions. The volume of shares traded amounted to 4,323,021 units with a total turnover of Rs. 1.18 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Citizen Life Insurance Company Limited (CLI) had the highest turnover, reaching Rs. 6.93 crores, and closed at a market price of Rs. 447.70.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Madhya Bhotekoshi Jalavidyut Company Limited (MBJC) posted the highest gain of 10%, followed by Buddha Bhumi Nepal Hydropower Company Limited (BNHC) with a gain of 9.98%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) experienced the loss of 6.61% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices except Banking closed in the green territory, with the Hotel and Tourism index gaining the most at 1.52%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a gain of 0.13%, while Float Index and Sensitive Float Index increased by 0.46% and 0.04% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18901', 'image' => '20231004042335_collage (11).jpg', 'article_date' => '2023-10-04 16:21:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19172', 'article_category_id' => '1', 'title' => 'Bank Deposits Exceed Rs 5800 Billion', 'sub_title' => '', 'summary' => 'October 4: Total deposits in banks and financial institutions have exceeded Rs 5800 billion.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: Total deposits in banks and financial institutions have exceeded Rs 5800 billion. Bank deposits have increased due to the continuous increase in remittance flow and the arrangement made by the government to allow BFIs to calculate the deposits from the accumulated funds at the local level as bank deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the data published by Nepal Rastra Bank, the total deposits in banks and financial institutions as of last Sunday reached Rs 5806 billion. Compared to the previous day, bank deposit increased by Rs 14 billion on Sunday. On Saturday, the deposit portfolio of banks stood at Rs 5792 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The total deposits in the banking system were Rs 5767 billion by the end of the last fiscal year (FY). After the government reduced the facility of calculating 80 per cent of the accumulated funds at the local level as bank deposit to 50 per cent, the deposits decreased by Rs 109 billion in the first two days of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">However, after a discussion with the bankers in early September, Finance Minister Dr Prakash Sharan Mahat allowed banks to consider 60 per cent of the accumulated funds at the local level as bank deposits. Likewise, as the inflow of remittance is high, bank deposits have been increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Despite the increase in bank deposits, the credit flow of BFIs is off the mark. As of Sunday, banks and financial institutions had invested a total of Rs 4932 billion. At the end of last year, the total credit flow of banks stood at Rs 4879 billion, which has increased by Rs 53 billion in two and a half months. Banks are competing to invest in government bonds because there is not much demand for loans compared to the increase in deposit collection.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Along with the increase in bank deposits, the credit-deposit ratio (CD ratio) of banks has also decreased. The CD ratio, which was 82.21 per cent on Saturday, dropped to 82.05 per cent on Sunday. Similarly, as liquidity is high, the average interest rate of interbank transactions has also dropped to 2.52 per cent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Banks are allowed to invest by maintaining a CD ratio of up to 90 per cent. According to this provision, the banks can disburse additional loans of up to Rs 461 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18900', 'image' => '20231004025113_Banks - Copy.jpg', 'article_date' => '2023-10-04 14:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19170', 'article_category_id' => '1', 'title' => 'Government Preparing to Approve FDI up to Rs 500 Million through Automated System', 'sub_title' => '', 'summary' => 'October 4: The Ministry of Industry, Commerce and Supply published a notice in the N.epal Gazette on Monday informing that Foreign Direct Investment (FDI) up to Rs 500 million will be approved through the automated system', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: The Ministry of Industry, Commerce and Supply published a notice in the Nepal Gazette on Monday informing that Foreign Direct Investment (FDI) up to Rs 500 million will be approved through the automated system. However, the government has not yet developed the necessary infrastructure to implement the automated system.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The ministry issued a notice specifying the upper limit of foreign investment approval through automated system and the type of industries. The upper limit of foreign investment to be approved through the automated system is set at Rs 500 million. The minimum limit is Rs 200 million. Foreign investors can use automated system to invest in 60 types of industries and businesses in seven different sections within the limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the information published in the Nepal Gazette, these seven sectors include energy-based projects, agriculture and forest production-based industries and industries related to infrastructure, tourism, information technology, service-oriented and productive sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Baburam Gautam, director general of the Department of Industries, said, “Only investments within the specified limits will be approved through the automated system. The permission to grant investment approval will be done through this system." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that the department will now proceed with the purchase of the software for the automated system after the publication of the notification in the Nepal Gazette. Gautam said, “The system is not ready yet. It will take some time until the system is developed after proceeding with the procurement process of the software.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The department held a press conference in mid-April and announced that the automated system will be used to approve foreign investment. The then director general of the department, Ram Chandra Tiwari, had informed that such a system, which is implemented in India, Bangladesh and other countries, would be implemented in Nepal from May 15.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The department says that despite the announcement, the software was not developed because the government did not release the required budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government had mentioned in the budget statement for the current financial year (FY) 2080/81 that an arrangement will be made for automated system for approval of FDI.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">After the system is established, foreign investors do not need to visit the Department of Industries to get approval for the investment of the specified limit. They can upload the necessary documents in the system while submitting application for the investment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">With the announcement of the automated system for investment the government claimed that it has created an investment-friendly environment in the country.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18898', 'image' => '20231004022051_Foreign investment.jpg', 'article_date' => '2023-10-04 14:19:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19169', 'article_category_id' => '1', 'title' => 'Nepal’s Tourism Business Returning back to Pre-Covid Situation', 'sub_title' => '', 'summary' => 'October 4: With the beginning of the peak tourism season in Nepal, the country has seen an increase in arrival of tourists. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: With the beginning of the peak tourism season in Nepal, the country has seen an increase in arrival of tourists. This year, foreigners' arrival in September, also known as the start of the tourist season, has reached the level of pre-Covid-19 in 2019.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The tourism data for 2023 shows that arrival of tourists is higher in the peak season than during other months of the year. Spring (March, April and May) and autumn (September, October and November) are considered peak tourism seasons in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In September, the month when the tourist season begins, there has been a significant improvement in the arrival of foreign tourists compared to previous years. In September 2023, 91,012 tourists entered Nepal by air. According to the data released by the Nepal Tourism Board on Sunday, the arrival of tourists in this year's peak season is almost equal to that of 2019, the year before the onset of Covid-19.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In September 2019, a total of 92,604 tourists came to Nepal by air. In 2020 and 21, the number of tourists visiting Nepal in September was low. In those two years, COVID-19 and the ban on cross-border travel and international flights, mandatory quarantine, and the necessity of anti-Covid vaccination affected tourist arrivals. The number of tourists visiting Nepal in September has increased since 2022.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Similarly, the arrival of tourists in May and June this year is also more compared to the corresponding months of 2019. However, tourism entrepreneurs argue that their business has not yet returned to the state of 2019. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Khum Bahadur Subedi, outgoing president of Trekking Agencies Association of Nepal (TAAN), shared that tourism is yet to return to the state of 2019. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He estimates that it will be back to normal in 2024. He said that the current influx of tourists can be considered positive, but he said that during the off-season, tourists could not come due to the effects of the global economic situation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sajan Shakya, general secretary of the Hotel Association Nepal (HAN) believes that the arrival of tourists will increase till November as it is the main season. "We estimate that 300,000 tourists will visit Nepal in September, October and November," Shakya said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the data published by the board, the highest number of tourists came from India in September. A total of 28,694 Indian tourists visited Nepal in September. In terms of numbers, China is second accounting for 8,174 tourists from China in September followed by the United States, Bangladesh, Australia, Britain, Sri Lanka, Germany, South Korea and Israel.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18897', 'image' => '20231004010539_tourism ktm.jpeg', 'article_date' => '2023-10-04 13:04:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19168', 'article_category_id' => '1', 'title' => 'Lawmakers Express Concernes Over Price Hike, Communal Clashes ', 'sub_title' => '', 'summary' => 'October 4: Members of Parliament have expressed concern over the exorbitant price hike of daily essentials and ethnic and communal clashes erupting in different parts of the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 4: Members of Parliament have expressed concern over the exorbitant price hike of daily essentials and ethnic and communal clashes erupting in different parts of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a meeting of the House of Representatives on Tuesday, the lawmakers demanded strong enforcement of law and order to address the issue of communal and ethnic clashes. They also raised the problems faced by the farmers, and the victims of natural disasters including landslide and floods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thakur Prasad Gaire suggested that the government should focus on infrastructure development. Artificial shortage of goods and price hike on the run-up to the festivals is worrying, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Janardan Sharma said time has come to effectively enforce citizen's rights provisioned in the constitution. Peace and order should be maintained in this multi-ethnic, multi-religious and multi-cultural country as per the spirit of the constitution, he said, urging the government to create such atmosphere that the incidents that occurred in eastern Tarai and Nepalgunj would not repeat again. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hari Dhakal expressed concern saying why none was worried about the declining economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhruba Bahadur Pradhan said that the country needs to improve good governance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pradip Yadav said why some businesspersons were not paying electricity tariff despite repeated prodding by Nepal Electricity Authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Abdul Khan demanded government to removed double taxation on NRNs if they invest in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ram Prakash Chaudhary shared that farmers in some eastern Tarai districts were facing hard times due to scant rainfall, so their problems should be addressed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chitra Bahadur KC questioned why those who failed in exam were recommended for district judges. He further argued it Nepal could not afford federalism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Amaresh Kumar Singh drew the government's attention towards rising cases of attacks on doctors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18896', 'image' => '20231004122651_20230713052749_parliament building.jpg', 'article_date' => '2023-10-04 12:26:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19167', 'article_category_id' => '1', 'title' => 'CEO Albright Hopeful of Accomplishing MCC Project on Time ', 'sub_title' => '', 'summary' => 'October 4: Chief Executive Officer of Millennium Challenge Corporation (MCC), Alice Albright has said she is confident and optimistic for the timely completion of the MCC project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 4: Chief Executive Officer of Millennium Challenge Corporation (MCC), Alice Albright has said she is confident and optimistic for the timely completion of the MCC project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference organized in the capital on Tuesday, visiting CEO Albright mentioned that she found the Government of Nepal and other stakeholders effortful and dedicated for its implementation as the project has to be completed within five years since its commencement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"MCA Nepal is responsible for implementing MCC. This is a structure under the Nepal government," she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CEO Albright shared that projects under MCC have been executed in different parts of the world and stressed the need of cooperation from all sides to overcome challenges in course of its implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing that the high-level meetings and discussions during her Nepal visit were fruitful, she said matters related to the successful implementation of the project were discussed on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During her stay, CEO Albright-led delegation had called on Prime Minister Pushpa Kamal Dahal, former Prime Minister and Nepali Congress President Sher Bahadur Deuba, former Prime Minister and CPN-UML Chairperson KP Sharma Oli, Minister for Foreign Affairs NP Saud, Minister for Finance Dr Prakash Sharan Mahat, Minister for Energy, Water Resource and Irrigation Shakti Bahadur Basnet and Minister for Physical Infrastructure and Transport Prakash Jwala among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that the MCC has already entered into implementation phase, Albright expressed her confidence that the project would be completed in the designated period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MCC CEO further mentioned they had agreed and accepted the interpretive declaration attached to MCC while endorsing the MCC-related proposal by the parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further said MCC was a crucial part of the US foreign grants assistance and its execution would further deepen the Nepal-US relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CEO Albright expressed her hope that the project would help develop reliable electricity service and road network as well as open up new avenues for electricity export through the construction of transmission lines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She went on saying that the projects under such grants would contribute to the economic growth of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also on the occasion, US Ambassador Dean Thompson and MCA Nepal's Executive Director Khadga Bahadur Bisht also responded to the queries of journalists on the project affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MCC compact has already entered into execution phase since August 30. The MCC compact was signed between the Government of Nepal and MCC under the US government on September 14, 2017. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After a long debate, the parliament had endorsed the compact last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a provision in the compact that the power transmission lines and roads construction project should be completed within five years since the commencement of the project. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18895', 'image' => '20231004110852_20230830105937_1693279080.1692757131.1691983136.1690248678.1681795913[1].jpg', 'article_date' => '2023-10-04 11:08:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19183', 'article_category_id' => '1', 'title' => 'Preparation Made to Open Korala Checkpoint: CM Pandey', 'sub_title' => '', 'summary' => 'Chief Minister of Gandaki Province, Surendra Raj Pandey, said that preparations have been completed to open the Korala cross-border checkpoint in Mustang.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">October 5: Chief Minister of Gandaki Province, Surendra Raj Pandey, said that preparations have been completed to open the Korala cross-border checkpoint in Mustang. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">During a recent visit to Pillar no 24, located at the border between Mustang and the Tibet Autonomous Region of China, Chief Minister Pandey emphasized the urgent need for constructing physical infrastructure at the Mustang border, as infrastructure toward Tibet has already been developed. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">CM Pandey revealed that discussions have taken place with the federal government, Prime Minister, and relevant ministries to facilitate the opening of the Korala checkpoint.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The government is focused on improving the road leading to the Korala checkpoint to ensure regular vehicle movement. Due to the COVID-19 pandemic, the trade fair, held biannually at the Korala checkpoint, has not taken place since 2076 BS.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, Chief District Officer of Mustang, Janak Raj Pandey, mentioned that Chinese officials are willing to open the checkpoint, and talks with them are scheduled. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">There are also plans to permit cross-border movement for residents living within approximately 30 kilometers of the checkpoint based on identity card verification.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Following an inspection of the checkpoint, meetings were conducted by the Gandaki Province-level security committee and Mustang district-level security committee in Korala. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">A delegation consisting of Chief Minister Pandey, federal parliament members, and province assembly members visited more than 10 bordering villages, engaging in discussions with locals about the status of provincial government projects, the budget allocation for the current fiscal year, and addressing the concerns of the residents, said Narahari Sapkota. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18911', 'image' => '20231005054242_collage (13).jpg', 'article_date' => '2023-10-05 17:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19181', 'article_category_id' => '1', 'title' => 'SC Issues Show Cause Order for Taxation on Income Earned from Merger and FPO Issuance', 'sub_title' => '', 'summary' => 'October 5: The Supreme Court issued a ‘show cause order’ to the government regarding the provision under the Finance Act 2080 that requires payment of tax on income earned through the merger or acquisition of companies and through the issuance of further public offering (FPO) of shares.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">October 5: The Supreme Court issued a ‘show cause order’ to the government regarding the provision under the Finance Act 2080 that requires payment of tax on income earned through the merger or acquisition of companies and through the issuance of further public offering (FPO) of shares.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The banks had filed separate writ petitions against the provisions of the Finance Act arguing that the profits from mergers and acquisitions and dividends from share premiums should not be subjected to income tax. The banks sought injunctions and interim orders in both the writs. The constitutional bench of the SC issued the show cause order on Wednesday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Govinda Prasad Ghimire, information officer of SC, informed that both the parties were called for a discussion on November 8.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">On Wednesday, Supreme Court’s full bench chaired by Chief Justice Bishwambhar Prasad Shrestha along with justices Ishwar Prasad Khatiwada, Dr Ananda Mohan Bhattarai, Prakash Kumar Dhungana, and Sushma Lata Mathema presided over the hearings on both the cases. The first hearing of the writ filed on September 15 was adjourned due to the fact that it was not sent for hearing on September 27.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Standard Chartered Bank and Nepal SBI had filed a writ against the provision of tax on issuance of FPO at premium rate. Likewise, Sanima Bank, Siddhartha Bank, NIC Asia Bank, Kumari Bank, Himalayan Bank, Prime Commercial Bank, Prabhu Bank, Global IME Bank, Laxmi Sunrise Bank, and Machhapuchhre Bank filed a writ against the provision of taxation on gains through merger/acquisition. Similarly, Citizens Bank, NMB Bank, Nabil Bank and Nepal Investment Mega Bank have filed writs in both cases.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In the writ petition, it has been claimed that the provision of taxation on profit received through merger or acquisition and issuance of FPO at premium rate is an ‘ex post facto taxation' and it is against the constitution.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18909', 'image' => '20231005021316_Supreme Court.jpg', 'article_date' => '2023-10-05 14:12:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19180', 'article_category_id' => '1', 'title' => '38 Nations Win Medals at Asian Games, China Tops Medal Tally ', 'sub_title' => 'Nepal Assured of Medal in Women's Kabaddi ', 'summary' => 'October 5: Thirty-eight nations have so far won medals at the ongoing 19th Asian Games while China continues to remain at the top of medals tally. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Thirty-eight nations have so far won medals at the ongoing 19th Asian Games while China continues to remain at the top of medals tally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of Wednesday, 38 of the total 45 countries participating in the event won medals while China remained at the top with 319 medals: 172 gold, 95 silver and 52 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Japan is in the second place with 147 medals including 37 gold, 51 silver and 59 bronze followed South Korea with 148 medals including 33 gold, 45 silver and 70 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India is fourth with 81 medals, comprising 18 gold, 31 silver, and 32 bronze, while Uzbekistan is fifth with 54 medals, including 16 gold, 16 silver, and 22 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chinese Taipei has secured the sixth position with 13 gold, 14 silver, and 21 bronze, while Thailand is in seventh place with 10 gold, 12 silver, and 24 bronze, with a total of 46 medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bahrain holds the eighth position with 16 medals, including 10 gold, one silver, and five bronze. North Korea is in the ninth position with nine gold, 12 silver, and eight bronze medals, with a total of 29 medals while Hong Kong lies in the 10th position with seven gold, 15 silver, and 28 bronze. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal secures medal in Women's Kabaddi</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has avoided the possibility of returning home without a medal in the 19th Asian Games as the women's kabaddi team by reaching the semi-finals as the runner-up from Group 'B' on Wednesday. With this, Nepal assured of at least one medal in Hangzhou. There is a provision that all four teams that reach the semi-finals in kabaddi will receive medals. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18908', 'image' => '20231005013758_XxjpseE009522_20231004_PEPFN1A001.JPG', 'article_date' => '2023-10-05 13:37:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19179', 'article_category_id' => '1', 'title' => 'Parliamentary Panel Directs Government to Ensure Smooth Supply of Daily Consumables during Festivals', 'sub_title' => '', 'summary' => 'October 5: The Industry and Commerce, and Labour and Consumer Interest Committee under the House of Representatives has instructed the government to ensure smooth supply of daily essentials during festivals of Dashain, Tihar and Chhath. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Industry and Commerce, and Labour and Consumer Interest Committee under the House of Representatives has instructed the government to ensure smooth supply of daily essentials during festivals of Dashain, Tihar and Chhath. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the committee on Wednesday directed the government to increase the number of fair-price shops, ensure adequate supplies of food to the remote areas including Karnali and intensify market monitoring during the festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing about the decisions of the meeting with media, committee President Abudul Khan said the government has been instructed to take additional efforts to ensure smooth supplies of food during the festivals. </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 government’s decision to launch the fair-price shop targeting upcoming festivals is welcoming," he said, adding that the number of such outlets should be increased. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the government has been asked for taking measures to prevent the potential market irregularities such as artificial price-hike, food adulteration, black marketing and artificial shortages during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the committee held discussions with betel nuts producers and suppliers and representatives from the Ministry of Industry, Commerce and Supplies regarding issues related to the exports of betel nuts. The meeting also decided to take further updates about the issues from stakeholders. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'parliament, committee, consumer, festivals, smooth, supply, daily, essentials, black, marketing, artificial, shortage, hoarding, price, hike', 'description' => '', 'sortorder' => '18907', 'image' => '20231005124641_iStock_000034378286Small-1.jpg', 'article_date' => '2023-10-05 12:45:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19178', 'article_category_id' => '1', 'title' => 'Weather Improves after Five Days of Rainfall ', 'sub_title' => '', 'summary' => 'October 5: The weather across the country has improved from Thursday after continuous rainfall for the past five days. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The weather across the country has improved from Thursday after continuous rainfall for the past five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the atmospheric condition is expected to steadily improve further. Meteorologist Govinda Jha said the eastern parts of the country has been under the partial influence of a low-pressure system which is now in the process of shifting to the northwest and weakening. Such shift will have its impact on Sikkim and its surrounding areas, as well as Bangladesh. </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"">Jha further said that Koshi Province has thick cloud cover, while skies in other regions are relatively clear at present. Although moderate rainfall is expected for the next two or three days, there is no possibility of heavy rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be partly to generally cloudy today in Koshi Province, Bagmati Province and Gandaki Province and partly cloudy in rest of the country. Light to moderate rainfall with thunder and lightning is likely to occur at a few places of Koshi Province, Bagmati Province and Gandaki Province and at one or two places in rest of the provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the weather is expected be partly to generally cloudy tonight in Koshi Province, Madesh Province, Bagmati Province and Gandaki Province and partly cloudy to mainly fair in rest of the provinces. Light rain or thunder and lightning is likely to occur at a few places of Koshi Province, Madesh Province, Bagmati Province and Gandaki Province. The monsoon, which normally enters Nepal on June 13, withdraws on October 2. This year, however, the monsoon entered Nepal a day later on June 14 and its exit was delayed by a few days. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'weather, Nepal, rainfall, improvement, thunder, cloudy, monsoon, low, pressure, system', 'description' => '', 'sortorder' => '18906', 'image' => '20231005115016_HKC-Jajarkot-shephoksundo.jpg', 'article_date' => '2023-10-05 11:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19177', 'article_category_id' => '1', 'title' => 'Experts Suggest Government to Make EPG Report Public ', 'sub_title' => '', 'summary' => 'October 5: Experts have suggested the government make public the report prepared by the Eminent Persons Group (EPG) on Nepal-India relations. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Experts have suggested the government make public the report prepared by the Eminent Persons Group (EPG) on Nepal-India relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a meeting of the National Concern and Coordination Committee under the National Assembly held on Wednesday, they said the determination of border between the two countries should be finalized and given an official status. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Expressing the view on the issues regarding Nepal-India relations, opportunities, problems and solutions, the experts laid emphasis on implementing the border map prepared by technical mechanism of both the countries taking a long time of 26 years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, EPG member and former Water Resources Secretary, Suryanath Upadhyay, asked the government through parliament to give an official status to the two-country border by determining disputed areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As per border determination, it is necessary to remove encroachment at no man's land, to fence from one side if possible and to implement the mandamus of the Supreme Court regarding border and its regulation," said Upadhyay, adding that local levels and concerned police offices should keep record of Indian nationals in Nepal and it should be updated every six months. According to Upadhyay, labour permit should be effectively implemented in both formal and informal sectors as per the provision of Labour Law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The EPG member further stressed the need to effectively raise the issues like drug smuggling, human trafficking and other criminal activities in the parliament as Nepal is facing challenges in maintaining peace and security due to such activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former Director General of the Department of Survey, Toyanath Baral, said it was necessary to manage border regulation between the two countries in an integrated manner. He also suggested the government to implement the border related map prepared by the EPG. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18905', 'image' => '20231005111322_Flag-Pins-Nepal-India_600x600.jpg', 'article_date' => '2023-10-05 11:12:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19176', 'article_category_id' => '1', 'title' => 'Nepal to Sign Labour Pacts with Germany and Romania', 'sub_title' => '', 'summary' => 'October 5: The Government of Nepal is all set to enter into bilateral labour agreements with two European countries, Germany and Romania, in a move aimed at facilitating labour migration and employment opportunities for Nepali workers abroad.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">October 5: The Government of Nepal is all set to enter into bilateral labour agreements with two European countries, Germany and Romania, in a move aimed at facilitating labour migration and employment opportunities for Nepali workers abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A meeting of the Council of Ministers took a decision to this effect on Tuesday. Minister for Communication and Information Technology Rekha Sharma confirmed that the cabinet has approved the signing of the labor agreements with these two countries. The Ministry of Labour, Employment, and Social Security has been granted the authority to proceed with the agreements.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Minister Sharma also mentioned that a delegation led by Labour Minister Sharat Singh Bhandari will participate in the signing ceremony of the labour agreements with Germany and Romania.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Additionally, the government has given its approval for bilateral talks and air service agreements between Nepal and Switzerland, as well as Nepal and Rwanda.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">In a further development, the cabinet meeting decided to establish a bilateral consultation mechanism between the foreign ministries of Nepal and Malaysia, aimed at enhancing diplomatic and international relations between the two countries. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'Labour, agreement, pact, Nepal, Malaysia, Germany, Romania, Switzerland, Rwanda', 'description' => '', 'sortorder' => '18904', 'image' => '20231005094916_ed.jpg', 'article_date' => '2023-10-05 09:48:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19175', 'article_category_id' => '1', 'title' => 'Sauraha’s Tourism in Crisis: Hotels Empty Despite Start of Season', 'sub_title' => '', 'summary' => 'Chitwan’s Sauraha, the third-largest tourist destination in the country, is wearing a deserted look. Even though the tourism season has started, tourists are not coming, leaving business owners disappointed. The tourism season has set in, but hotel bookings are not made, rendering tourism entrepreneurs disappointed.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 5: Chitwan’s Sauraha, the third-largest tourist destination in the country, is wearing a deserted look. Even though the tourism season has started, tourists are not coming, leaving business owners disappointed. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The tourism season has set in, but hotel bookings are not made, rendering tourism entrepreneurs disappointed. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Tourism entrepreneurs say that Sauraha has received less than 10% of the expected tourists. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Suman Ghimire, the former president of the Regional Hotel Association in Sauraha, they are expecting the tourism business hit hard by COVID to revive and ready to welcome the tourists. However, tourists are not turning up, Ghimire said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ghimire attributes the lack of domestic tourists to the economic downturn in the country. "Firstly, the country is in an economic crisis, and secondly, air travel has become expensive, and the roads are in sorry state," he explains. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ghimire also mentions that the tourists who have come to Nepal are more interested in trekking, and there is an expectation that they might come to Sauraha from the next month.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sauraha is globally recognized. It has its own brand. But, the young generation of tourism entrepreneurs lack the zeal and creativity to introduce new products to attract the tourists to Sauraha. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“We have not been able to introduce new products like our predecessors,” said Deepak Bhattarai, the erstwhile president of the association.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sauraha is known for jungle safaris worldwide. However, most tourists coming here are not interested in jungle safaris these days. Safety challenges in the jungle, issue of animal rights, and other factors have caused a decrease in tourists interested in activities like elephant safaris and jungle walking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The exodus of the youth from the country has dealt a severe blow to the production and consumption in the country, causing setback to the tourism promotion in the country, said Bhattarai. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Economic difficulties, high-interest rates, and increased operating costs have forced some major tourism entrepreneurs to leave the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We did not experience such a crisis even during the time of COVID," says Ganga Giri, the president of the Regional Hotel Association, Sauraha. "Now, the tourist occupancy in Sauraha is less than 10%." </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">When the occupancy is 100% in the hotels and bars, they just make 20% profit. The current scenario of tourist arrivals in Sauraha is pessimistic, forcing entrepreneurs to quit their businesses. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The policy of the federal government and negligence on the part of the local government are responsible for the sorry state of the tourists in Sauraha, say the local entrepreneurs. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18903', 'image' => '20231005060417_collage.jpg', 'article_date' => '2023-10-05 06:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19173', 'article_category_id' => '1', 'title' => 'Fierce Competition Forcing Oil Industries to Sell their Products Below Cost Price', 'sub_title' => '', 'summary' => 'October 4: Edible oil industries opened in the border areas targeting the Indian market are now forced to sell oil at throw-away prices. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 4: </span><span style="font-family:"Arial","sans-serif"">Edible oil industries opened in the border areas targeting the Indian market are now forced to sell oil at throw-away prices. The industrialists are worried that their investment of Rs 15 billion in the oil industry is in peril.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The industrialists say that about two dozen industries will be closed if the government does not provide immediate policy protection. According to an industrialist, the production of one litre of oil currently costs Rs 190.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Industrialists are selling oil at Rs 170 a litre from the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, when India imposed a high rate of customs duty on the import of oil, the industries of Nepal made good income from oil exports taking advantage of the concessions given to Nepal. But now, those industries are on the brink of collapse after India lowered the customs duty. Previously, India used to charge up to 40 per cent duty on oil imported from other countries but only zero to 5 per cent for oil supplied by Nepali industries under SAFTA concession.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Earlier, the export used to be more profitable as the duty paid to the local customs and value-added tax was also refunded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Suresh Rungta, the owner of OCB Food, said that after India adopted a zero-duty policy on imports to control the price of oil in its domestic market, exports from Nepal have come to a standstill. He said that they were forced to sell oil at a loss because it was essential to meet the expenses of the industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">At present, the retail price of cooking oil in the border Indian market is Rs 178 per litre. Industrialists added that the cost of transporting raw materials from Kolkata to Birgunj is Rs 7 per litre. They say that if the processing cost is added, the production cost of one litre of oil will reach Rs 190. Industries of Nepal have been bringing semi-refined oil from Ukraine, Indonesia and Malaysia and processing it here. The industry of Nepal refines sunflower, soybean, palm oil and mustard oil and used to exports them, mostly to India until recently.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">But now, since the export to India is not possible, there is fierce competition between more than two dozen industries in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prabhu Dayal Aggarwal, the owner of Annapurna Vegetable Products, said that he had to do a 'push sale' after the sale stopped.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"Now, there is fierce competition in the domestic market. Oil has to be sold at a lower price than the cost. If the situation like this persists, we will not be able to sustain any longer,'' Agarwal shared.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Currently, 22 industries produce oil. At a time when exports were easy to India, most of the industries expanded their investments. Some new industries were also added. Among them, 14 are based in the Bara-Parsa corridor, and others are in Biratnagar and Bhairahawa. The annual production capacity of such industries is 2.5 million tons. Industrialists say that the domestic market consumption is only 500,000 tons. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Nikhil Chauhan, the owner of Narayani Oil Refinery, shared that this wide gap between production and the market has led to fierce competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">It is said that the Indian government is keeping the interest of the common consumer at the forefront, considering the Lok Sabha elections to be held in 2024.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">India is making many policy changes to make food supply easier and cheaper. There is also control over the export of essential grains like paddy, rice, wheat and sugar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the context of Nepal, the government had reduced the customs duty on the import of raw materials to 1 per cent last year to save the oil industry from the crisis.</span> <span style="font-family:"Arial","sans-serif"">Chauhan said that the current year's budget has removed this concession and brought it back to 10 per cent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal demanded that the government should protect the investment of the domestic oil industry as a matter of policy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chachan also agrees to this demand. He added that if there is a policy of reducing the tariff on the import of raw materials to 1 per cent and giving at least a 10 per cent subsidy on exports, the oil industry can be protected from the current crisis. </span></span></span></p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18902', 'image' => '20231004030739_oil1501009175_7.jpg', 'article_date' => '2023-10-04 15:06:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19174', 'article_category_id' => '1', 'title' => 'NEPSE Index Gains 9.24 Points to Close at 1967.97 Points', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index gained 9.24 points or 0.47% and closed at 1967.97 points on the fourth trading day of the week, Wednesday. The index lost 17.56 points yesterday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 4: The Nepal Stock Exchange(NEPSE) Index gained 9.24 points or 0.47% and closed at 1967.97 points on the fourth trading day of the week, Wednesday. The index lost 17.56 points yesterday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, there were 284 different stocks traded in 58,741 transactions. The volume of shares traded amounted to 4,323,021 units with a total turnover of Rs. 1.18 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Citizen Life Insurance Company Limited (CLI) had the highest turnover, reaching Rs. 6.93 crores, and closed at a market price of Rs. 447.70.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Madhya Bhotekoshi Jalavidyut Company Limited (MBJC) posted the highest gain of 10%, followed by Buddha Bhumi Nepal Hydropower Company Limited (BNHC) with a gain of 9.98%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) experienced the loss of 6.61% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices except Banking closed in the green territory, with the Hotel and Tourism index gaining the most at 1.52%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a gain of 0.13%, while Float Index and Sensitive Float Index increased by 0.46% and 0.04% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18901', 'image' => '20231004042335_collage (11).jpg', 'article_date' => '2023-10-04 16:21:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19172', 'article_category_id' => '1', 'title' => 'Bank Deposits Exceed Rs 5800 Billion', 'sub_title' => '', 'summary' => 'October 4: Total deposits in banks and financial institutions have exceeded Rs 5800 billion.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: Total deposits in banks and financial institutions have exceeded Rs 5800 billion. Bank deposits have increased due to the continuous increase in remittance flow and the arrangement made by the government to allow BFIs to calculate the deposits from the accumulated funds at the local level as bank deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the data published by Nepal Rastra Bank, the total deposits in banks and financial institutions as of last Sunday reached Rs 5806 billion. Compared to the previous day, bank deposit increased by Rs 14 billion on Sunday. On Saturday, the deposit portfolio of banks stood at Rs 5792 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The total deposits in the banking system were Rs 5767 billion by the end of the last fiscal year (FY). After the government reduced the facility of calculating 80 per cent of the accumulated funds at the local level as bank deposit to 50 per cent, the deposits decreased by Rs 109 billion in the first two days of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">However, after a discussion with the bankers in early September, Finance Minister Dr Prakash Sharan Mahat allowed banks to consider 60 per cent of the accumulated funds at the local level as bank deposits. Likewise, as the inflow of remittance is high, bank deposits have been increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Despite the increase in bank deposits, the credit flow of BFIs is off the mark. As of Sunday, banks and financial institutions had invested a total of Rs 4932 billion. At the end of last year, the total credit flow of banks stood at Rs 4879 billion, which has increased by Rs 53 billion in two and a half months. Banks are competing to invest in government bonds because there is not much demand for loans compared to the increase in deposit collection.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Along with the increase in bank deposits, the credit-deposit ratio (CD ratio) of banks has also decreased. The CD ratio, which was 82.21 per cent on Saturday, dropped to 82.05 per cent on Sunday. Similarly, as liquidity is high, the average interest rate of interbank transactions has also dropped to 2.52 per cent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Banks are allowed to invest by maintaining a CD ratio of up to 90 per cent. According to this provision, the banks can disburse additional loans of up to Rs 461 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18900', 'image' => '20231004025113_Banks - Copy.jpg', 'article_date' => '2023-10-04 14:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19170', 'article_category_id' => '1', 'title' => 'Government Preparing to Approve FDI up to Rs 500 Million through Automated System', 'sub_title' => '', 'summary' => 'October 4: The Ministry of Industry, Commerce and Supply published a notice in the N.epal Gazette on Monday informing that Foreign Direct Investment (FDI) up to Rs 500 million will be approved through the automated system', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: The Ministry of Industry, Commerce and Supply published a notice in the Nepal Gazette on Monday informing that Foreign Direct Investment (FDI) up to Rs 500 million will be approved through the automated system. However, the government has not yet developed the necessary infrastructure to implement the automated system.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The ministry issued a notice specifying the upper limit of foreign investment approval through automated system and the type of industries. The upper limit of foreign investment to be approved through the automated system is set at Rs 500 million. The minimum limit is Rs 200 million. Foreign investors can use automated system to invest in 60 types of industries and businesses in seven different sections within the limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the information published in the Nepal Gazette, these seven sectors include energy-based projects, agriculture and forest production-based industries and industries related to infrastructure, tourism, information technology, service-oriented and productive sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Baburam Gautam, director general of the Department of Industries, said, “Only investments within the specified limits will be approved through the automated system. The permission to grant investment approval will be done through this system." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that the department will now proceed with the purchase of the software for the automated system after the publication of the notification in the Nepal Gazette. Gautam said, “The system is not ready yet. It will take some time until the system is developed after proceeding with the procurement process of the software.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The department held a press conference in mid-April and announced that the automated system will be used to approve foreign investment. The then director general of the department, Ram Chandra Tiwari, had informed that such a system, which is implemented in India, Bangladesh and other countries, would be implemented in Nepal from May 15.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The department says that despite the announcement, the software was not developed because the government did not release the required budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government had mentioned in the budget statement for the current financial year (FY) 2080/81 that an arrangement will be made for automated system for approval of FDI.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">After the system is established, foreign investors do not need to visit the Department of Industries to get approval for the investment of the specified limit. They can upload the necessary documents in the system while submitting application for the investment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">With the announcement of the automated system for investment the government claimed that it has created an investment-friendly environment in the country.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18898', 'image' => '20231004022051_Foreign investment.jpg', 'article_date' => '2023-10-04 14:19:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19169', 'article_category_id' => '1', 'title' => 'Nepal’s Tourism Business Returning back to Pre-Covid Situation', 'sub_title' => '', 'summary' => 'October 4: With the beginning of the peak tourism season in Nepal, the country has seen an increase in arrival of tourists. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: With the beginning of the peak tourism season in Nepal, the country has seen an increase in arrival of tourists. This year, foreigners' arrival in September, also known as the start of the tourist season, has reached the level of pre-Covid-19 in 2019.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The tourism data for 2023 shows that arrival of tourists is higher in the peak season than during other months of the year. Spring (March, April and May) and autumn (September, October and November) are considered peak tourism seasons in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In September, the month when the tourist season begins, there has been a significant improvement in the arrival of foreign tourists compared to previous years. In September 2023, 91,012 tourists entered Nepal by air. According to the data released by the Nepal Tourism Board on Sunday, the arrival of tourists in this year's peak season is almost equal to that of 2019, the year before the onset of Covid-19.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In September 2019, a total of 92,604 tourists came to Nepal by air. In 2020 and 21, the number of tourists visiting Nepal in September was low. In those two years, COVID-19 and the ban on cross-border travel and international flights, mandatory quarantine, and the necessity of anti-Covid vaccination affected tourist arrivals. The number of tourists visiting Nepal in September has increased since 2022.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Similarly, the arrival of tourists in May and June this year is also more compared to the corresponding months of 2019. However, tourism entrepreneurs argue that their business has not yet returned to the state of 2019. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Khum Bahadur Subedi, outgoing president of Trekking Agencies Association of Nepal (TAAN), shared that tourism is yet to return to the state of 2019. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He estimates that it will be back to normal in 2024. He said that the current influx of tourists can be considered positive, but he said that during the off-season, tourists could not come due to the effects of the global economic situation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sajan Shakya, general secretary of the Hotel Association Nepal (HAN) believes that the arrival of tourists will increase till November as it is the main season. "We estimate that 300,000 tourists will visit Nepal in September, October and November," Shakya said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the data published by the board, the highest number of tourists came from India in September. A total of 28,694 Indian tourists visited Nepal in September. In terms of numbers, China is second accounting for 8,174 tourists from China in September followed by the United States, Bangladesh, Australia, Britain, Sri Lanka, Germany, South Korea and Israel.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18897', 'image' => '20231004010539_tourism ktm.jpeg', 'article_date' => '2023-10-04 13:04:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19168', 'article_category_id' => '1', 'title' => 'Lawmakers Express Concernes Over Price Hike, Communal Clashes ', 'sub_title' => '', 'summary' => 'October 4: Members of Parliament have expressed concern over the exorbitant price hike of daily essentials and ethnic and communal clashes erupting in different parts of the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 4: Members of Parliament have expressed concern over the exorbitant price hike of daily essentials and ethnic and communal clashes erupting in different parts of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a meeting of the House of Representatives on Tuesday, the lawmakers demanded strong enforcement of law and order to address the issue of communal and ethnic clashes. They also raised the problems faced by the farmers, and the victims of natural disasters including landslide and floods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thakur Prasad Gaire suggested that the government should focus on infrastructure development. Artificial shortage of goods and price hike on the run-up to the festivals is worrying, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Janardan Sharma said time has come to effectively enforce citizen's rights provisioned in the constitution. Peace and order should be maintained in this multi-ethnic, multi-religious and multi-cultural country as per the spirit of the constitution, he said, urging the government to create such atmosphere that the incidents that occurred in eastern Tarai and Nepalgunj would not repeat again. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hari Dhakal expressed concern saying why none was worried about the declining economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhruba Bahadur Pradhan said that the country needs to improve good governance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pradip Yadav said why some businesspersons were not paying electricity tariff despite repeated prodding by Nepal Electricity Authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Abdul Khan demanded government to removed double taxation on NRNs if they invest in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ram Prakash Chaudhary shared that farmers in some eastern Tarai districts were facing hard times due to scant rainfall, so their problems should be addressed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chitra Bahadur KC questioned why those who failed in exam were recommended for district judges. He further argued it Nepal could not afford federalism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Amaresh Kumar Singh drew the government's attention towards rising cases of attacks on doctors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18896', 'image' => '20231004122651_20230713052749_parliament building.jpg', 'article_date' => '2023-10-04 12:26:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19167', 'article_category_id' => '1', 'title' => 'CEO Albright Hopeful of Accomplishing MCC Project on Time ', 'sub_title' => '', 'summary' => 'October 4: Chief Executive Officer of Millennium Challenge Corporation (MCC), Alice Albright has said she is confident and optimistic for the timely completion of the MCC project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 4: Chief Executive Officer of Millennium Challenge Corporation (MCC), Alice Albright has said she is confident and optimistic for the timely completion of the MCC project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference organized in the capital on Tuesday, visiting CEO Albright mentioned that she found the Government of Nepal and other stakeholders effortful and dedicated for its implementation as the project has to be completed within five years since its commencement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"MCA Nepal is responsible for implementing MCC. This is a structure under the Nepal government," she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CEO Albright shared that projects under MCC have been executed in different parts of the world and stressed the need of cooperation from all sides to overcome challenges in course of its implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing that the high-level meetings and discussions during her Nepal visit were fruitful, she said matters related to the successful implementation of the project were discussed on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During her stay, CEO Albright-led delegation had called on Prime Minister Pushpa Kamal Dahal, former Prime Minister and Nepali Congress President Sher Bahadur Deuba, former Prime Minister and CPN-UML Chairperson KP Sharma Oli, Minister for Foreign Affairs NP Saud, Minister for Finance Dr Prakash Sharan Mahat, Minister for Energy, Water Resource and Irrigation Shakti Bahadur Basnet and Minister for Physical Infrastructure and Transport Prakash Jwala among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that the MCC has already entered into implementation phase, Albright expressed her confidence that the project would be completed in the designated period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MCC CEO further mentioned they had agreed and accepted the interpretive declaration attached to MCC while endorsing the MCC-related proposal by the parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further said MCC was a crucial part of the US foreign grants assistance and its execution would further deepen the Nepal-US relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CEO Albright expressed her hope that the project would help develop reliable electricity service and road network as well as open up new avenues for electricity export through the construction of transmission lines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She went on saying that the projects under such grants would contribute to the economic growth of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also on the occasion, US Ambassador Dean Thompson and MCA Nepal's Executive Director Khadga Bahadur Bisht also responded to the queries of journalists on the project affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MCC compact has already entered into execution phase since August 30. The MCC compact was signed between the Government of Nepal and MCC under the US government on September 14, 2017. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After a long debate, the parliament had endorsed the compact last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a provision in the compact that the power transmission lines and roads construction project should be completed within five years since the commencement of the project. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18895', 'image' => '20231004110852_20230830105937_1693279080.1692757131.1691983136.1690248678.1681795913[1].jpg', 'article_date' => '2023-10-04 11:08:16', '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
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Due to the COVID-19 pandemic, the trade fair, held biannually at the Korala checkpoint, has not taken place since 2076 BS.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, Chief District Officer of Mustang, Janak Raj Pandey, mentioned that Chinese officials are willing to open the checkpoint, and talks with them are scheduled. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">There are also plans to permit cross-border movement for residents living within approximately 30 kilometers of the checkpoint based on identity card verification.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Following an inspection of the checkpoint, meetings were conducted by the Gandaki Province-level security committee and Mustang district-level security committee in Korala. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">A delegation consisting of Chief Minister Pandey, federal parliament members, and province assembly members visited more than 10 bordering villages, engaging in discussions with locals about the status of provincial government projects, the budget allocation for the current fiscal year, and addressing the concerns of the residents, said Narahari Sapkota. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18911', 'image' => '20231005054242_collage (13).jpg', 'article_date' => '2023-10-05 17:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19181', 'article_category_id' => '1', 'title' => 'SC Issues Show Cause Order for Taxation on Income Earned from Merger and FPO Issuance', 'sub_title' => '', 'summary' => 'October 5: The Supreme Court issued a ‘show cause order’ to the government regarding the provision under the Finance Act 2080 that requires payment of tax on income earned through the merger or acquisition of companies and through the issuance of further public offering (FPO) of shares.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">October 5: The Supreme Court issued a ‘show cause order’ to the government regarding the provision under the Finance Act 2080 that requires payment of tax on income earned through the merger or acquisition of companies and through the issuance of further public offering (FPO) of shares.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The banks had filed separate writ petitions against the provisions of the Finance Act arguing that the profits from mergers and acquisitions and dividends from share premiums should not be subjected to income tax. The banks sought injunctions and interim orders in both the writs. The constitutional bench of the SC issued the show cause order on Wednesday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Govinda Prasad Ghimire, information officer of SC, informed that both the parties were called for a discussion on November 8.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">On Wednesday, Supreme Court’s full bench chaired by Chief Justice Bishwambhar Prasad Shrestha along with justices Ishwar Prasad Khatiwada, Dr Ananda Mohan Bhattarai, Prakash Kumar Dhungana, and Sushma Lata Mathema presided over the hearings on both the cases. The first hearing of the writ filed on September 15 was adjourned due to the fact that it was not sent for hearing on September 27.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Standard Chartered Bank and Nepal SBI had filed a writ against the provision of tax on issuance of FPO at premium rate. Likewise, Sanima Bank, Siddhartha Bank, NIC Asia Bank, Kumari Bank, Himalayan Bank, Prime Commercial Bank, Prabhu Bank, Global IME Bank, Laxmi Sunrise Bank, and Machhapuchhre Bank filed a writ against the provision of taxation on gains through merger/acquisition. Similarly, Citizens Bank, NMB Bank, Nabil Bank and Nepal Investment Mega Bank have filed writs in both cases.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In the writ petition, it has been claimed that the provision of taxation on profit received through merger or acquisition and issuance of FPO at premium rate is an ‘ex post facto taxation' and it is against the constitution.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18909', 'image' => '20231005021316_Supreme Court.jpg', 'article_date' => '2023-10-05 14:12:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19180', 'article_category_id' => '1', 'title' => '38 Nations Win Medals at Asian Games, China Tops Medal Tally ', 'sub_title' => 'Nepal Assured of Medal in Women's Kabaddi ', 'summary' => 'October 5: Thirty-eight nations have so far won medals at the ongoing 19th Asian Games while China continues to remain at the top of medals tally. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Thirty-eight nations have so far won medals at the ongoing 19th Asian Games while China continues to remain at the top of medals tally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of Wednesday, 38 of the total 45 countries participating in the event won medals while China remained at the top with 319 medals: 172 gold, 95 silver and 52 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Japan is in the second place with 147 medals including 37 gold, 51 silver and 59 bronze followed South Korea with 148 medals including 33 gold, 45 silver and 70 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India is fourth with 81 medals, comprising 18 gold, 31 silver, and 32 bronze, while Uzbekistan is fifth with 54 medals, including 16 gold, 16 silver, and 22 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chinese Taipei has secured the sixth position with 13 gold, 14 silver, and 21 bronze, while Thailand is in seventh place with 10 gold, 12 silver, and 24 bronze, with a total of 46 medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bahrain holds the eighth position with 16 medals, including 10 gold, one silver, and five bronze. North Korea is in the ninth position with nine gold, 12 silver, and eight bronze medals, with a total of 29 medals while Hong Kong lies in the 10th position with seven gold, 15 silver, and 28 bronze. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal secures medal in Women's Kabaddi</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has avoided the possibility of returning home without a medal in the 19th Asian Games as the women's kabaddi team by reaching the semi-finals as the runner-up from Group 'B' on Wednesday. With this, Nepal assured of at least one medal in Hangzhou. There is a provision that all four teams that reach the semi-finals in kabaddi will receive medals. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18908', 'image' => '20231005013758_XxjpseE009522_20231004_PEPFN1A001.JPG', 'article_date' => '2023-10-05 13:37:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19179', 'article_category_id' => '1', 'title' => 'Parliamentary Panel Directs Government to Ensure Smooth Supply of Daily Consumables during Festivals', 'sub_title' => '', 'summary' => 'October 5: The Industry and Commerce, and Labour and Consumer Interest Committee under the House of Representatives has instructed the government to ensure smooth supply of daily essentials during festivals of Dashain, Tihar and Chhath. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Industry and Commerce, and Labour and Consumer Interest Committee under the House of Representatives has instructed the government to ensure smooth supply of daily essentials during festivals of Dashain, Tihar and Chhath. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the committee on Wednesday directed the government to increase the number of fair-price shops, ensure adequate supplies of food to the remote areas including Karnali and intensify market monitoring during the festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing about the decisions of the meeting with media, committee President Abudul Khan said the government has been instructed to take additional efforts to ensure smooth supplies of food during the festivals. </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 government’s decision to launch the fair-price shop targeting upcoming festivals is welcoming," he said, adding that the number of such outlets should be increased. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the government has been asked for taking measures to prevent the potential market irregularities such as artificial price-hike, food adulteration, black marketing and artificial shortages during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the committee held discussions with betel nuts producers and suppliers and representatives from the Ministry of Industry, Commerce and Supplies regarding issues related to the exports of betel nuts. The meeting also decided to take further updates about the issues from stakeholders. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'parliament, committee, consumer, festivals, smooth, supply, daily, essentials, black, marketing, artificial, shortage, hoarding, price, hike', 'description' => '', 'sortorder' => '18907', 'image' => '20231005124641_iStock_000034378286Small-1.jpg', 'article_date' => '2023-10-05 12:45:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19178', 'article_category_id' => '1', 'title' => 'Weather Improves after Five Days of Rainfall ', 'sub_title' => '', 'summary' => 'October 5: The weather across the country has improved from Thursday after continuous rainfall for the past five days. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The weather across the country has improved from Thursday after continuous rainfall for the past five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the atmospheric condition is expected to steadily improve further. Meteorologist Govinda Jha said the eastern parts of the country has been under the partial influence of a low-pressure system which is now in the process of shifting to the northwest and weakening. Such shift will have its impact on Sikkim and its surrounding areas, as well as Bangladesh. </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"">Jha further said that Koshi Province has thick cloud cover, while skies in other regions are relatively clear at present. Although moderate rainfall is expected for the next two or three days, there is no possibility of heavy rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be partly to generally cloudy today in Koshi Province, Bagmati Province and Gandaki Province and partly cloudy in rest of the country. Light to moderate rainfall with thunder and lightning is likely to occur at a few places of Koshi Province, Bagmati Province and Gandaki Province and at one or two places in rest of the provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the weather is expected be partly to generally cloudy tonight in Koshi Province, Madesh Province, Bagmati Province and Gandaki Province and partly cloudy to mainly fair in rest of the provinces. Light rain or thunder and lightning is likely to occur at a few places of Koshi Province, Madesh Province, Bagmati Province and Gandaki Province. The monsoon, which normally enters Nepal on June 13, withdraws on October 2. This year, however, the monsoon entered Nepal a day later on June 14 and its exit was delayed by a few days. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'weather, Nepal, rainfall, improvement, thunder, cloudy, monsoon, low, pressure, system', 'description' => '', 'sortorder' => '18906', 'image' => '20231005115016_HKC-Jajarkot-shephoksundo.jpg', 'article_date' => '2023-10-05 11:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19177', 'article_category_id' => '1', 'title' => 'Experts Suggest Government to Make EPG Report Public ', 'sub_title' => '', 'summary' => 'October 5: Experts have suggested the government make public the report prepared by the Eminent Persons Group (EPG) on Nepal-India relations. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Experts have suggested the government make public the report prepared by the Eminent Persons Group (EPG) on Nepal-India relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a meeting of the National Concern and Coordination Committee under the National Assembly held on Wednesday, they said the determination of border between the two countries should be finalized and given an official status. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Expressing the view on the issues regarding Nepal-India relations, opportunities, problems and solutions, the experts laid emphasis on implementing the border map prepared by technical mechanism of both the countries taking a long time of 26 years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, EPG member and former Water Resources Secretary, Suryanath Upadhyay, asked the government through parliament to give an official status to the two-country border by determining disputed areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As per border determination, it is necessary to remove encroachment at no man's land, to fence from one side if possible and to implement the mandamus of the Supreme Court regarding border and its regulation," said Upadhyay, adding that local levels and concerned police offices should keep record of Indian nationals in Nepal and it should be updated every six months. According to Upadhyay, labour permit should be effectively implemented in both formal and informal sectors as per the provision of Labour Law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The EPG member further stressed the need to effectively raise the issues like drug smuggling, human trafficking and other criminal activities in the parliament as Nepal is facing challenges in maintaining peace and security due to such activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former Director General of the Department of Survey, Toyanath Baral, said it was necessary to manage border regulation between the two countries in an integrated manner. He also suggested the government to implement the border related map prepared by the EPG. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18905', 'image' => '20231005111322_Flag-Pins-Nepal-India_600x600.jpg', 'article_date' => '2023-10-05 11:12:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19176', 'article_category_id' => '1', 'title' => 'Nepal to Sign Labour Pacts with Germany and Romania', 'sub_title' => '', 'summary' => 'October 5: The Government of Nepal is all set to enter into bilateral labour agreements with two European countries, Germany and Romania, in a move aimed at facilitating labour migration and employment opportunities for Nepali workers abroad.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">October 5: The Government of Nepal is all set to enter into bilateral labour agreements with two European countries, Germany and Romania, in a move aimed at facilitating labour migration and employment opportunities for Nepali workers abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A meeting of the Council of Ministers took a decision to this effect on Tuesday. Minister for Communication and Information Technology Rekha Sharma confirmed that the cabinet has approved the signing of the labor agreements with these two countries. The Ministry of Labour, Employment, and Social Security has been granted the authority to proceed with the agreements.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Minister Sharma also mentioned that a delegation led by Labour Minister Sharat Singh Bhandari will participate in the signing ceremony of the labour agreements with Germany and Romania.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Additionally, the government has given its approval for bilateral talks and air service agreements between Nepal and Switzerland, as well as Nepal and Rwanda.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">In a further development, the cabinet meeting decided to establish a bilateral consultation mechanism between the foreign ministries of Nepal and Malaysia, aimed at enhancing diplomatic and international relations between the two countries. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'Labour, agreement, pact, Nepal, Malaysia, Germany, Romania, Switzerland, Rwanda', 'description' => '', 'sortorder' => '18904', 'image' => '20231005094916_ed.jpg', 'article_date' => '2023-10-05 09:48:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19175', 'article_category_id' => '1', 'title' => 'Sauraha’s Tourism in Crisis: Hotels Empty Despite Start of Season', 'sub_title' => '', 'summary' => 'Chitwan’s Sauraha, the third-largest tourist destination in the country, is wearing a deserted look. Even though the tourism season has started, tourists are not coming, leaving business owners disappointed. The tourism season has set in, but hotel bookings are not made, rendering tourism entrepreneurs disappointed.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 5: Chitwan’s Sauraha, the third-largest tourist destination in the country, is wearing a deserted look. Even though the tourism season has started, tourists are not coming, leaving business owners disappointed. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The tourism season has set in, but hotel bookings are not made, rendering tourism entrepreneurs disappointed. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Tourism entrepreneurs say that Sauraha has received less than 10% of the expected tourists. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Suman Ghimire, the former president of the Regional Hotel Association in Sauraha, they are expecting the tourism business hit hard by COVID to revive and ready to welcome the tourists. However, tourists are not turning up, Ghimire said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ghimire attributes the lack of domestic tourists to the economic downturn in the country. "Firstly, the country is in an economic crisis, and secondly, air travel has become expensive, and the roads are in sorry state," he explains. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ghimire also mentions that the tourists who have come to Nepal are more interested in trekking, and there is an expectation that they might come to Sauraha from the next month.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sauraha is globally recognized. It has its own brand. But, the young generation of tourism entrepreneurs lack the zeal and creativity to introduce new products to attract the tourists to Sauraha. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“We have not been able to introduce new products like our predecessors,” said Deepak Bhattarai, the erstwhile president of the association.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sauraha is known for jungle safaris worldwide. However, most tourists coming here are not interested in jungle safaris these days. Safety challenges in the jungle, issue of animal rights, and other factors have caused a decrease in tourists interested in activities like elephant safaris and jungle walking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The exodus of the youth from the country has dealt a severe blow to the production and consumption in the country, causing setback to the tourism promotion in the country, said Bhattarai. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Economic difficulties, high-interest rates, and increased operating costs have forced some major tourism entrepreneurs to leave the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We did not experience such a crisis even during the time of COVID," says Ganga Giri, the president of the Regional Hotel Association, Sauraha. "Now, the tourist occupancy in Sauraha is less than 10%." </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">When the occupancy is 100% in the hotels and bars, they just make 20% profit. The current scenario of tourist arrivals in Sauraha is pessimistic, forcing entrepreneurs to quit their businesses. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The policy of the federal government and negligence on the part of the local government are responsible for the sorry state of the tourists in Sauraha, say the local entrepreneurs. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18903', 'image' => '20231005060417_collage.jpg', 'article_date' => '2023-10-05 06:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19173', 'article_category_id' => '1', 'title' => 'Fierce Competition Forcing Oil Industries to Sell their Products Below Cost Price', 'sub_title' => '', 'summary' => 'October 4: Edible oil industries opened in the border areas targeting the Indian market are now forced to sell oil at throw-away prices. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 4: </span><span style="font-family:"Arial","sans-serif"">Edible oil industries opened in the border areas targeting the Indian market are now forced to sell oil at throw-away prices. The industrialists are worried that their investment of Rs 15 billion in the oil industry is in peril.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The industrialists say that about two dozen industries will be closed if the government does not provide immediate policy protection. According to an industrialist, the production of one litre of oil currently costs Rs 190.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Industrialists are selling oil at Rs 170 a litre from the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, when India imposed a high rate of customs duty on the import of oil, the industries of Nepal made good income from oil exports taking advantage of the concessions given to Nepal. But now, those industries are on the brink of collapse after India lowered the customs duty. Previously, India used to charge up to 40 per cent duty on oil imported from other countries but only zero to 5 per cent for oil supplied by Nepali industries under SAFTA concession.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Earlier, the export used to be more profitable as the duty paid to the local customs and value-added tax was also refunded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Suresh Rungta, the owner of OCB Food, said that after India adopted a zero-duty policy on imports to control the price of oil in its domestic market, exports from Nepal have come to a standstill. He said that they were forced to sell oil at a loss because it was essential to meet the expenses of the industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">At present, the retail price of cooking oil in the border Indian market is Rs 178 per litre. Industrialists added that the cost of transporting raw materials from Kolkata to Birgunj is Rs 7 per litre. They say that if the processing cost is added, the production cost of one litre of oil will reach Rs 190. Industries of Nepal have been bringing semi-refined oil from Ukraine, Indonesia and Malaysia and processing it here. The industry of Nepal refines sunflower, soybean, palm oil and mustard oil and used to exports them, mostly to India until recently.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">But now, since the export to India is not possible, there is fierce competition between more than two dozen industries in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prabhu Dayal Aggarwal, the owner of Annapurna Vegetable Products, said that he had to do a 'push sale' after the sale stopped.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"Now, there is fierce competition in the domestic market. Oil has to be sold at a lower price than the cost. If the situation like this persists, we will not be able to sustain any longer,'' Agarwal shared.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Currently, 22 industries produce oil. At a time when exports were easy to India, most of the industries expanded their investments. Some new industries were also added. Among them, 14 are based in the Bara-Parsa corridor, and others are in Biratnagar and Bhairahawa. The annual production capacity of such industries is 2.5 million tons. Industrialists say that the domestic market consumption is only 500,000 tons. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Nikhil Chauhan, the owner of Narayani Oil Refinery, shared that this wide gap between production and the market has led to fierce competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">It is said that the Indian government is keeping the interest of the common consumer at the forefront, considering the Lok Sabha elections to be held in 2024.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">India is making many policy changes to make food supply easier and cheaper. There is also control over the export of essential grains like paddy, rice, wheat and sugar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the context of Nepal, the government had reduced the customs duty on the import of raw materials to 1 per cent last year to save the oil industry from the crisis.</span> <span style="font-family:"Arial","sans-serif"">Chauhan said that the current year's budget has removed this concession and brought it back to 10 per cent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal demanded that the government should protect the investment of the domestic oil industry as a matter of policy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chachan also agrees to this demand. He added that if there is a policy of reducing the tariff on the import of raw materials to 1 per cent and giving at least a 10 per cent subsidy on exports, the oil industry can be protected from the current crisis. </span></span></span></p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18902', 'image' => '20231004030739_oil1501009175_7.jpg', 'article_date' => '2023-10-04 15:06:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19174', 'article_category_id' => '1', 'title' => 'NEPSE Index Gains 9.24 Points to Close at 1967.97 Points', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index gained 9.24 points or 0.47% and closed at 1967.97 points on the fourth trading day of the week, Wednesday. The index lost 17.56 points yesterday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 4: The Nepal Stock Exchange(NEPSE) Index gained 9.24 points or 0.47% and closed at 1967.97 points on the fourth trading day of the week, Wednesday. The index lost 17.56 points yesterday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, there were 284 different stocks traded in 58,741 transactions. The volume of shares traded amounted to 4,323,021 units with a total turnover of Rs. 1.18 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Citizen Life Insurance Company Limited (CLI) had the highest turnover, reaching Rs. 6.93 crores, and closed at a market price of Rs. 447.70.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Madhya Bhotekoshi Jalavidyut Company Limited (MBJC) posted the highest gain of 10%, followed by Buddha Bhumi Nepal Hydropower Company Limited (BNHC) with a gain of 9.98%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) experienced the loss of 6.61% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices except Banking closed in the green territory, with the Hotel and Tourism index gaining the most at 1.52%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a gain of 0.13%, while Float Index and Sensitive Float Index increased by 0.46% and 0.04% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18901', 'image' => '20231004042335_collage (11).jpg', 'article_date' => '2023-10-04 16:21:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19172', 'article_category_id' => '1', 'title' => 'Bank Deposits Exceed Rs 5800 Billion', 'sub_title' => '', 'summary' => 'October 4: Total deposits in banks and financial institutions have exceeded Rs 5800 billion.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: Total deposits in banks and financial institutions have exceeded Rs 5800 billion. Bank deposits have increased due to the continuous increase in remittance flow and the arrangement made by the government to allow BFIs to calculate the deposits from the accumulated funds at the local level as bank deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the data published by Nepal Rastra Bank, the total deposits in banks and financial institutions as of last Sunday reached Rs 5806 billion. Compared to the previous day, bank deposit increased by Rs 14 billion on Sunday. On Saturday, the deposit portfolio of banks stood at Rs 5792 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The total deposits in the banking system were Rs 5767 billion by the end of the last fiscal year (FY). After the government reduced the facility of calculating 80 per cent of the accumulated funds at the local level as bank deposit to 50 per cent, the deposits decreased by Rs 109 billion in the first two days of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">However, after a discussion with the bankers in early September, Finance Minister Dr Prakash Sharan Mahat allowed banks to consider 60 per cent of the accumulated funds at the local level as bank deposits. Likewise, as the inflow of remittance is high, bank deposits have been increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Despite the increase in bank deposits, the credit flow of BFIs is off the mark. As of Sunday, banks and financial institutions had invested a total of Rs 4932 billion. At the end of last year, the total credit flow of banks stood at Rs 4879 billion, which has increased by Rs 53 billion in two and a half months. Banks are competing to invest in government bonds because there is not much demand for loans compared to the increase in deposit collection.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Along with the increase in bank deposits, the credit-deposit ratio (CD ratio) of banks has also decreased. The CD ratio, which was 82.21 per cent on Saturday, dropped to 82.05 per cent on Sunday. Similarly, as liquidity is high, the average interest rate of interbank transactions has also dropped to 2.52 per cent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Banks are allowed to invest by maintaining a CD ratio of up to 90 per cent. According to this provision, the banks can disburse additional loans of up to Rs 461 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18900', 'image' => '20231004025113_Banks - Copy.jpg', 'article_date' => '2023-10-04 14:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19170', 'article_category_id' => '1', 'title' => 'Government Preparing to Approve FDI up to Rs 500 Million through Automated System', 'sub_title' => '', 'summary' => 'October 4: The Ministry of Industry, Commerce and Supply published a notice in the N.epal Gazette on Monday informing that Foreign Direct Investment (FDI) up to Rs 500 million will be approved through the automated system', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: The Ministry of Industry, Commerce and Supply published a notice in the Nepal Gazette on Monday informing that Foreign Direct Investment (FDI) up to Rs 500 million will be approved through the automated system. However, the government has not yet developed the necessary infrastructure to implement the automated system.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The ministry issued a notice specifying the upper limit of foreign investment approval through automated system and the type of industries. The upper limit of foreign investment to be approved through the automated system is set at Rs 500 million. The minimum limit is Rs 200 million. Foreign investors can use automated system to invest in 60 types of industries and businesses in seven different sections within the limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the information published in the Nepal Gazette, these seven sectors include energy-based projects, agriculture and forest production-based industries and industries related to infrastructure, tourism, information technology, service-oriented and productive sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Baburam Gautam, director general of the Department of Industries, said, “Only investments within the specified limits will be approved through the automated system. The permission to grant investment approval will be done through this system." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that the department will now proceed with the purchase of the software for the automated system after the publication of the notification in the Nepal Gazette. Gautam said, “The system is not ready yet. It will take some time until the system is developed after proceeding with the procurement process of the software.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The department held a press conference in mid-April and announced that the automated system will be used to approve foreign investment. The then director general of the department, Ram Chandra Tiwari, had informed that such a system, which is implemented in India, Bangladesh and other countries, would be implemented in Nepal from May 15.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The department says that despite the announcement, the software was not developed because the government did not release the required budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government had mentioned in the budget statement for the current financial year (FY) 2080/81 that an arrangement will be made for automated system for approval of FDI.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">After the system is established, foreign investors do not need to visit the Department of Industries to get approval for the investment of the specified limit. They can upload the necessary documents in the system while submitting application for the investment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">With the announcement of the automated system for investment the government claimed that it has created an investment-friendly environment in the country.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18898', 'image' => '20231004022051_Foreign investment.jpg', 'article_date' => '2023-10-04 14:19:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19169', 'article_category_id' => '1', 'title' => 'Nepal’s Tourism Business Returning back to Pre-Covid Situation', 'sub_title' => '', 'summary' => 'October 4: With the beginning of the peak tourism season in Nepal, the country has seen an increase in arrival of tourists. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: With the beginning of the peak tourism season in Nepal, the country has seen an increase in arrival of tourists. This year, foreigners' arrival in September, also known as the start of the tourist season, has reached the level of pre-Covid-19 in 2019.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The tourism data for 2023 shows that arrival of tourists is higher in the peak season than during other months of the year. Spring (March, April and May) and autumn (September, October and November) are considered peak tourism seasons in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In September, the month when the tourist season begins, there has been a significant improvement in the arrival of foreign tourists compared to previous years. In September 2023, 91,012 tourists entered Nepal by air. According to the data released by the Nepal Tourism Board on Sunday, the arrival of tourists in this year's peak season is almost equal to that of 2019, the year before the onset of Covid-19.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In September 2019, a total of 92,604 tourists came to Nepal by air. In 2020 and 21, the number of tourists visiting Nepal in September was low. In those two years, COVID-19 and the ban on cross-border travel and international flights, mandatory quarantine, and the necessity of anti-Covid vaccination affected tourist arrivals. The number of tourists visiting Nepal in September has increased since 2022.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Similarly, the arrival of tourists in May and June this year is also more compared to the corresponding months of 2019. However, tourism entrepreneurs argue that their business has not yet returned to the state of 2019. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Khum Bahadur Subedi, outgoing president of Trekking Agencies Association of Nepal (TAAN), shared that tourism is yet to return to the state of 2019. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He estimates that it will be back to normal in 2024. He said that the current influx of tourists can be considered positive, but he said that during the off-season, tourists could not come due to the effects of the global economic situation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sajan Shakya, general secretary of the Hotel Association Nepal (HAN) believes that the arrival of tourists will increase till November as it is the main season. "We estimate that 300,000 tourists will visit Nepal in September, October and November," Shakya said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the data published by the board, the highest number of tourists came from India in September. A total of 28,694 Indian tourists visited Nepal in September. In terms of numbers, China is second accounting for 8,174 tourists from China in September followed by the United States, Bangladesh, Australia, Britain, Sri Lanka, Germany, South Korea and Israel.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18897', 'image' => '20231004010539_tourism ktm.jpeg', 'article_date' => '2023-10-04 13:04:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19168', 'article_category_id' => '1', 'title' => 'Lawmakers Express Concernes Over Price Hike, Communal Clashes ', 'sub_title' => '', 'summary' => 'October 4: Members of Parliament have expressed concern over the exorbitant price hike of daily essentials and ethnic and communal clashes erupting in different parts of the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 4: Members of Parliament have expressed concern over the exorbitant price hike of daily essentials and ethnic and communal clashes erupting in different parts of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a meeting of the House of Representatives on Tuesday, the lawmakers demanded strong enforcement of law and order to address the issue of communal and ethnic clashes. They also raised the problems faced by the farmers, and the victims of natural disasters including landslide and floods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thakur Prasad Gaire suggested that the government should focus on infrastructure development. Artificial shortage of goods and price hike on the run-up to the festivals is worrying, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Janardan Sharma said time has come to effectively enforce citizen's rights provisioned in the constitution. Peace and order should be maintained in this multi-ethnic, multi-religious and multi-cultural country as per the spirit of the constitution, he said, urging the government to create such atmosphere that the incidents that occurred in eastern Tarai and Nepalgunj would not repeat again. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hari Dhakal expressed concern saying why none was worried about the declining economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhruba Bahadur Pradhan said that the country needs to improve good governance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pradip Yadav said why some businesspersons were not paying electricity tariff despite repeated prodding by Nepal Electricity Authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Abdul Khan demanded government to removed double taxation on NRNs if they invest in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ram Prakash Chaudhary shared that farmers in some eastern Tarai districts were facing hard times due to scant rainfall, so their problems should be addressed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chitra Bahadur KC questioned why those who failed in exam were recommended for district judges. He further argued it Nepal could not afford federalism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Amaresh Kumar Singh drew the government's attention towards rising cases of attacks on doctors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18896', 'image' => '20231004122651_20230713052749_parliament building.jpg', 'article_date' => '2023-10-04 12:26:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19167', 'article_category_id' => '1', 'title' => 'CEO Albright Hopeful of Accomplishing MCC Project on Time ', 'sub_title' => '', 'summary' => 'October 4: Chief Executive Officer of Millennium Challenge Corporation (MCC), Alice Albright has said she is confident and optimistic for the timely completion of the MCC project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 4: Chief Executive Officer of Millennium Challenge Corporation (MCC), Alice Albright has said she is confident and optimistic for the timely completion of the MCC project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference organized in the capital on Tuesday, visiting CEO Albright mentioned that she found the Government of Nepal and other stakeholders effortful and dedicated for its implementation as the project has to be completed within five years since its commencement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"MCA Nepal is responsible for implementing MCC. This is a structure under the Nepal government," she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CEO Albright shared that projects under MCC have been executed in different parts of the world and stressed the need of cooperation from all sides to overcome challenges in course of its implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing that the high-level meetings and discussions during her Nepal visit were fruitful, she said matters related to the successful implementation of the project were discussed on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During her stay, CEO Albright-led delegation had called on Prime Minister Pushpa Kamal Dahal, former Prime Minister and Nepali Congress President Sher Bahadur Deuba, former Prime Minister and CPN-UML Chairperson KP Sharma Oli, Minister for Foreign Affairs NP Saud, Minister for Finance Dr Prakash Sharan Mahat, Minister for Energy, Water Resource and Irrigation Shakti Bahadur Basnet and Minister for Physical Infrastructure and Transport Prakash Jwala among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that the MCC has already entered into implementation phase, Albright expressed her confidence that the project would be completed in the designated period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MCC CEO further mentioned they had agreed and accepted the interpretive declaration attached to MCC while endorsing the MCC-related proposal by the parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further said MCC was a crucial part of the US foreign grants assistance and its execution would further deepen the Nepal-US relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CEO Albright expressed her hope that the project would help develop reliable electricity service and road network as well as open up new avenues for electricity export through the construction of transmission lines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She went on saying that the projects under such grants would contribute to the economic growth of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also on the occasion, US Ambassador Dean Thompson and MCA Nepal's Executive Director Khadga Bahadur Bisht also responded to the queries of journalists on the project affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MCC compact has already entered into execution phase since August 30. The MCC compact was signed between the Government of Nepal and MCC under the US government on September 14, 2017. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After a long debate, the parliament had endorsed the compact last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a provision in the compact that the power transmission lines and roads construction project should be completed within five years since the commencement of the project. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18895', 'image' => '20231004110852_20230830105937_1693279080.1692757131.1691983136.1690248678.1681795913[1].jpg', 'article_date' => '2023-10-04 11:08:16', '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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Due to the COVID-19 pandemic, the trade fair, held biannually at the Korala checkpoint, has not taken place since 2076 BS.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, Chief District Officer of Mustang, Janak Raj Pandey, mentioned that Chinese officials are willing to open the checkpoint, and talks with them are scheduled. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">There are also plans to permit cross-border movement for residents living within approximately 30 kilometers of the checkpoint based on identity card verification.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Following an inspection of the checkpoint, meetings were conducted by the Gandaki Province-level security committee and Mustang district-level security committee in Korala. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">A delegation consisting of Chief Minister Pandey, federal parliament members, and province assembly members visited more than 10 bordering villages, engaging in discussions with locals about the status of provincial government projects, the budget allocation for the current fiscal year, and addressing the concerns of the residents, said Narahari Sapkota. (RSS)</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18911', 'image' => '20231005054242_collage (13).jpg', 'article_date' => '2023-10-05 17:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19181', 'article_category_id' => '1', 'title' => 'SC Issues Show Cause Order for Taxation on Income Earned from Merger and FPO Issuance', 'sub_title' => '', 'summary' => 'October 5: The Supreme Court issued a ‘show cause order’ to the government regarding the provision under the Finance Act 2080 that requires payment of tax on income earned through the merger or acquisition of companies and through the issuance of further public offering (FPO) of shares.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">October 5: The Supreme Court issued a ‘show cause order’ to the government regarding the provision under the Finance Act 2080 that requires payment of tax on income earned through the merger or acquisition of companies and through the issuance of further public offering (FPO) of shares.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The banks had filed separate writ petitions against the provisions of the Finance Act arguing that the profits from mergers and acquisitions and dividends from share premiums should not be subjected to income tax. The banks sought injunctions and interim orders in both the writs. The constitutional bench of the SC issued the show cause order on Wednesday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Govinda Prasad Ghimire, information officer of SC, informed that both the parties were called for a discussion on November 8.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">On Wednesday, Supreme Court’s full bench chaired by Chief Justice Bishwambhar Prasad Shrestha along with justices Ishwar Prasad Khatiwada, Dr Ananda Mohan Bhattarai, Prakash Kumar Dhungana, and Sushma Lata Mathema presided over the hearings on both the cases. The first hearing of the writ filed on September 15 was adjourned due to the fact that it was not sent for hearing on September 27.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Standard Chartered Bank and Nepal SBI had filed a writ against the provision of tax on issuance of FPO at premium rate. Likewise, Sanima Bank, Siddhartha Bank, NIC Asia Bank, Kumari Bank, Himalayan Bank, Prime Commercial Bank, Prabhu Bank, Global IME Bank, Laxmi Sunrise Bank, and Machhapuchhre Bank filed a writ against the provision of taxation on gains through merger/acquisition. Similarly, Citizens Bank, NMB Bank, Nabil Bank and Nepal Investment Mega Bank have filed writs in both cases.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In the writ petition, it has been claimed that the provision of taxation on profit received through merger or acquisition and issuance of FPO at premium rate is an ‘ex post facto taxation' and it is against the constitution.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18909', 'image' => '20231005021316_Supreme Court.jpg', 'article_date' => '2023-10-05 14:12:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19180', 'article_category_id' => '1', 'title' => '38 Nations Win Medals at Asian Games, China Tops Medal Tally ', 'sub_title' => 'Nepal Assured of Medal in Women's Kabaddi ', 'summary' => 'October 5: Thirty-eight nations have so far won medals at the ongoing 19th Asian Games while China continues to remain at the top of medals tally. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Thirty-eight nations have so far won medals at the ongoing 19th Asian Games while China continues to remain at the top of medals tally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of Wednesday, 38 of the total 45 countries participating in the event won medals while China remained at the top with 319 medals: 172 gold, 95 silver and 52 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Japan is in the second place with 147 medals including 37 gold, 51 silver and 59 bronze followed South Korea with 148 medals including 33 gold, 45 silver and 70 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India is fourth with 81 medals, comprising 18 gold, 31 silver, and 32 bronze, while Uzbekistan is fifth with 54 medals, including 16 gold, 16 silver, and 22 bronze. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chinese Taipei has secured the sixth position with 13 gold, 14 silver, and 21 bronze, while Thailand is in seventh place with 10 gold, 12 silver, and 24 bronze, with a total of 46 medals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bahrain holds the eighth position with 16 medals, including 10 gold, one silver, and five bronze. North Korea is in the ninth position with nine gold, 12 silver, and eight bronze medals, with a total of 29 medals while Hong Kong lies in the 10th position with seven gold, 15 silver, and 28 bronze. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal secures medal in Women's Kabaddi</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has avoided the possibility of returning home without a medal in the 19th Asian Games as the women's kabaddi team by reaching the semi-finals as the runner-up from Group 'B' on Wednesday. With this, Nepal assured of at least one medal in Hangzhou. There is a provision that all four teams that reach the semi-finals in kabaddi will receive medals. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18908', 'image' => '20231005013758_XxjpseE009522_20231004_PEPFN1A001.JPG', 'article_date' => '2023-10-05 13:37:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19179', 'article_category_id' => '1', 'title' => 'Parliamentary Panel Directs Government to Ensure Smooth Supply of Daily Consumables during Festivals', 'sub_title' => '', 'summary' => 'October 5: The Industry and Commerce, and Labour and Consumer Interest Committee under the House of Representatives has instructed the government to ensure smooth supply of daily essentials during festivals of Dashain, Tihar and Chhath. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Industry and Commerce, and Labour and Consumer Interest Committee under the House of Representatives has instructed the government to ensure smooth supply of daily essentials during festivals of Dashain, Tihar and Chhath. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the committee on Wednesday directed the government to increase the number of fair-price shops, ensure adequate supplies of food to the remote areas including Karnali and intensify market monitoring during the festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing about the decisions of the meeting with media, committee President Abudul Khan said the government has been instructed to take additional efforts to ensure smooth supplies of food during the festivals. </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 government’s decision to launch the fair-price shop targeting upcoming festivals is welcoming," he said, adding that the number of such outlets should be increased. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the government has been asked for taking measures to prevent the potential market irregularities such as artificial price-hike, food adulteration, black marketing and artificial shortages during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the committee held discussions with betel nuts producers and suppliers and representatives from the Ministry of Industry, Commerce and Supplies regarding issues related to the exports of betel nuts. The meeting also decided to take further updates about the issues from stakeholders. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'parliament, committee, consumer, festivals, smooth, supply, daily, essentials, black, marketing, artificial, shortage, hoarding, price, hike', 'description' => '', 'sortorder' => '18907', 'image' => '20231005124641_iStock_000034378286Small-1.jpg', 'article_date' => '2023-10-05 12:45:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19178', 'article_category_id' => '1', 'title' => 'Weather Improves after Five Days of Rainfall ', 'sub_title' => '', 'summary' => 'October 5: The weather across the country has improved from Thursday after continuous rainfall for the past five days. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The weather across the country has improved from Thursday after continuous rainfall for the past five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, the atmospheric condition is expected to steadily improve further. Meteorologist Govinda Jha said the eastern parts of the country has been under the partial influence of a low-pressure system which is now in the process of shifting to the northwest and weakening. Such shift will have its impact on Sikkim and its surrounding areas, as well as Bangladesh. </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"">Jha further said that Koshi Province has thick cloud cover, while skies in other regions are relatively clear at present. Although moderate rainfall is expected for the next two or three days, there is no possibility of heavy rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be partly to generally cloudy today in Koshi Province, Bagmati Province and Gandaki Province and partly cloudy in rest of the country. Light to moderate rainfall with thunder and lightning is likely to occur at a few places of Koshi Province, Bagmati Province and Gandaki Province and at one or two places in rest of the provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the weather is expected be partly to generally cloudy tonight in Koshi Province, Madesh Province, Bagmati Province and Gandaki Province and partly cloudy to mainly fair in rest of the provinces. Light rain or thunder and lightning is likely to occur at a few places of Koshi Province, Madesh Province, Bagmati Province and Gandaki Province. The monsoon, which normally enters Nepal on June 13, withdraws on October 2. This year, however, the monsoon entered Nepal a day later on June 14 and its exit was delayed by a few days. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'weather, Nepal, rainfall, improvement, thunder, cloudy, monsoon, low, pressure, system', 'description' => '', 'sortorder' => '18906', 'image' => '20231005115016_HKC-Jajarkot-shephoksundo.jpg', 'article_date' => '2023-10-05 11:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19177', 'article_category_id' => '1', 'title' => 'Experts Suggest Government to Make EPG Report Public ', 'sub_title' => '', 'summary' => 'October 5: Experts have suggested the government make public the report prepared by the Eminent Persons Group (EPG) on Nepal-India relations. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Experts have suggested the government make public the report prepared by the Eminent Persons Group (EPG) on Nepal-India relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a meeting of the National Concern and Coordination Committee under the National Assembly held on Wednesday, they said the determination of border between the two countries should be finalized and given an official status. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Expressing the view on the issues regarding Nepal-India relations, opportunities, problems and solutions, the experts laid emphasis on implementing the border map prepared by technical mechanism of both the countries taking a long time of 26 years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, EPG member and former Water Resources Secretary, Suryanath Upadhyay, asked the government through parliament to give an official status to the two-country border by determining disputed areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As per border determination, it is necessary to remove encroachment at no man's land, to fence from one side if possible and to implement the mandamus of the Supreme Court regarding border and its regulation," said Upadhyay, adding that local levels and concerned police offices should keep record of Indian nationals in Nepal and it should be updated every six months. According to Upadhyay, labour permit should be effectively implemented in both formal and informal sectors as per the provision of Labour Law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The EPG member further stressed the need to effectively raise the issues like drug smuggling, human trafficking and other criminal activities in the parliament as Nepal is facing challenges in maintaining peace and security due to such activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former Director General of the Department of Survey, Toyanath Baral, said it was necessary to manage border regulation between the two countries in an integrated manner. He also suggested the government to implement the border related map prepared by the EPG. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18905', 'image' => '20231005111322_Flag-Pins-Nepal-India_600x600.jpg', 'article_date' => '2023-10-05 11:12:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19176', 'article_category_id' => '1', 'title' => 'Nepal to Sign Labour Pacts with Germany and Romania', 'sub_title' => '', 'summary' => 'October 5: The Government of Nepal is all set to enter into bilateral labour agreements with two European countries, Germany and Romania, in a move aimed at facilitating labour migration and employment opportunities for Nepali workers abroad.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">October 5: The Government of Nepal is all set to enter into bilateral labour agreements with two European countries, Germany and Romania, in a move aimed at facilitating labour migration and employment opportunities for Nepali workers abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A meeting of the Council of Ministers took a decision to this effect on Tuesday. Minister for Communication and Information Technology Rekha Sharma confirmed that the cabinet has approved the signing of the labor agreements with these two countries. The Ministry of Labour, Employment, and Social Security has been granted the authority to proceed with the agreements.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Minister Sharma also mentioned that a delegation led by Labour Minister Sharat Singh Bhandari will participate in the signing ceremony of the labour agreements with Germany and Romania.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Additionally, the government has given its approval for bilateral talks and air service agreements between Nepal and Switzerland, as well as Nepal and Rwanda.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">In a further development, the cabinet meeting decided to establish a bilateral consultation mechanism between the foreign ministries of Nepal and Malaysia, aimed at enhancing diplomatic and international relations between the two countries. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => 'Labour, agreement, pact, Nepal, Malaysia, Germany, Romania, Switzerland, Rwanda', 'description' => '', 'sortorder' => '18904', 'image' => '20231005094916_ed.jpg', 'article_date' => '2023-10-05 09:48:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19175', 'article_category_id' => '1', 'title' => 'Sauraha’s Tourism in Crisis: Hotels Empty Despite Start of Season', 'sub_title' => '', 'summary' => 'Chitwan’s Sauraha, the third-largest tourist destination in the country, is wearing a deserted look. Even though the tourism season has started, tourists are not coming, leaving business owners disappointed. The tourism season has set in, but hotel bookings are not made, rendering tourism entrepreneurs disappointed.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 5: Chitwan’s Sauraha, the third-largest tourist destination in the country, is wearing a deserted look. Even though the tourism season has started, tourists are not coming, leaving business owners disappointed. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The tourism season has set in, but hotel bookings are not made, rendering tourism entrepreneurs disappointed. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Tourism entrepreneurs say that Sauraha has received less than 10% of the expected tourists. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Suman Ghimire, the former president of the Regional Hotel Association in Sauraha, they are expecting the tourism business hit hard by COVID to revive and ready to welcome the tourists. However, tourists are not turning up, Ghimire said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ghimire attributes the lack of domestic tourists to the economic downturn in the country. "Firstly, the country is in an economic crisis, and secondly, air travel has become expensive, and the roads are in sorry state," he explains. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ghimire also mentions that the tourists who have come to Nepal are more interested in trekking, and there is an expectation that they might come to Sauraha from the next month.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sauraha is globally recognized. It has its own brand. But, the young generation of tourism entrepreneurs lack the zeal and creativity to introduce new products to attract the tourists to Sauraha. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“We have not been able to introduce new products like our predecessors,” said Deepak Bhattarai, the erstwhile president of the association.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sauraha is known for jungle safaris worldwide. However, most tourists coming here are not interested in jungle safaris these days. Safety challenges in the jungle, issue of animal rights, and other factors have caused a decrease in tourists interested in activities like elephant safaris and jungle walking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The exodus of the youth from the country has dealt a severe blow to the production and consumption in the country, causing setback to the tourism promotion in the country, said Bhattarai. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Economic difficulties, high-interest rates, and increased operating costs have forced some major tourism entrepreneurs to leave the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We did not experience such a crisis even during the time of COVID," says Ganga Giri, the president of the Regional Hotel Association, Sauraha. "Now, the tourist occupancy in Sauraha is less than 10%." </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">When the occupancy is 100% in the hotels and bars, they just make 20% profit. The current scenario of tourist arrivals in Sauraha is pessimistic, forcing entrepreneurs to quit their businesses. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The policy of the federal government and negligence on the part of the local government are responsible for the sorry state of the tourists in Sauraha, say the local entrepreneurs. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-05', 'modified' => '2023-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '18903', 'image' => '20231005060417_collage.jpg', 'article_date' => '2023-10-05 06:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19173', 'article_category_id' => '1', 'title' => 'Fierce Competition Forcing Oil Industries to Sell their Products Below Cost Price', 'sub_title' => '', 'summary' => 'October 4: Edible oil industries opened in the border areas targeting the Indian market are now forced to sell oil at throw-away prices. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">October 4: </span><span style="font-family:"Arial","sans-serif"">Edible oil industries opened in the border areas targeting the Indian market are now forced to sell oil at throw-away prices. The industrialists are worried that their investment of Rs 15 billion in the oil industry is in peril.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The industrialists say that about two dozen industries will be closed if the government does not provide immediate policy protection. According to an industrialist, the production of one litre of oil currently costs Rs 190.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Industrialists are selling oil at Rs 170 a litre from the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, when India imposed a high rate of customs duty on the import of oil, the industries of Nepal made good income from oil exports taking advantage of the concessions given to Nepal. But now, those industries are on the brink of collapse after India lowered the customs duty. Previously, India used to charge up to 40 per cent duty on oil imported from other countries but only zero to 5 per cent for oil supplied by Nepali industries under SAFTA concession.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Earlier, the export used to be more profitable as the duty paid to the local customs and value-added tax was also refunded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Suresh Rungta, the owner of OCB Food, said that after India adopted a zero-duty policy on imports to control the price of oil in its domestic market, exports from Nepal have come to a standstill. He said that they were forced to sell oil at a loss because it was essential to meet the expenses of the industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">At present, the retail price of cooking oil in the border Indian market is Rs 178 per litre. Industrialists added that the cost of transporting raw materials from Kolkata to Birgunj is Rs 7 per litre. They say that if the processing cost is added, the production cost of one litre of oil will reach Rs 190. Industries of Nepal have been bringing semi-refined oil from Ukraine, Indonesia and Malaysia and processing it here. The industry of Nepal refines sunflower, soybean, palm oil and mustard oil and used to exports them, mostly to India until recently.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">But now, since the export to India is not possible, there is fierce competition between more than two dozen industries in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prabhu Dayal Aggarwal, the owner of Annapurna Vegetable Products, said that he had to do a 'push sale' after the sale stopped.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"Now, there is fierce competition in the domestic market. Oil has to be sold at a lower price than the cost. If the situation like this persists, we will not be able to sustain any longer,'' Agarwal shared.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Currently, 22 industries produce oil. At a time when exports were easy to India, most of the industries expanded their investments. Some new industries were also added. Among them, 14 are based in the Bara-Parsa corridor, and others are in Biratnagar and Bhairahawa. The annual production capacity of such industries is 2.5 million tons. Industrialists say that the domestic market consumption is only 500,000 tons. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Nikhil Chauhan, the owner of Narayani Oil Refinery, shared that this wide gap between production and the market has led to fierce competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">It is said that the Indian government is keeping the interest of the common consumer at the forefront, considering the Lok Sabha elections to be held in 2024.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">India is making many policy changes to make food supply easier and cheaper. There is also control over the export of essential grains like paddy, rice, wheat and sugar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the context of Nepal, the government had reduced the customs duty on the import of raw materials to 1 per cent last year to save the oil industry from the crisis.</span> <span style="font-family:"Arial","sans-serif"">Chauhan said that the current year's budget has removed this concession and brought it back to 10 per cent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Agarwal demanded that the government should protect the investment of the domestic oil industry as a matter of policy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chachan also agrees to this demand. He added that if there is a policy of reducing the tariff on the import of raw materials to 1 per cent and giving at least a 10 per cent subsidy on exports, the oil industry can be protected from the current crisis. </span></span></span></p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18902', 'image' => '20231004030739_oil1501009175_7.jpg', 'article_date' => '2023-10-04 15:06:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19174', 'article_category_id' => '1', 'title' => 'NEPSE Index Gains 9.24 Points to Close at 1967.97 Points', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index gained 9.24 points or 0.47% and closed at 1967.97 points on the fourth trading day of the week, Wednesday. The index lost 17.56 points yesterday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">October 4: The Nepal Stock Exchange(NEPSE) Index gained 9.24 points or 0.47% and closed at 1967.97 points on the fourth trading day of the week, Wednesday. The index lost 17.56 points yesterday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading, there were 284 different stocks traded in 58,741 transactions. The volume of shares traded amounted to 4,323,021 units with a total turnover of Rs. 1.18 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Citizen Life Insurance Company Limited (CLI) had the highest turnover, reaching Rs. 6.93 crores, and closed at a market price of Rs. 447.70.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Madhya Bhotekoshi Jalavidyut Company Limited (MBJC) posted the highest gain of 10%, followed by Buddha Bhumi Nepal Hydropower Company Limited (BNHC) with a gain of 9.98%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) experienced the loss of 6.61% today.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices except Banking closed in the green territory, with the Hotel and Tourism index gaining the most at 1.52%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index experienced a gain of 0.13%, while Float Index and Sensitive Float Index increased by 0.46% and 0.04% respectively. </span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18901', 'image' => '20231004042335_collage (11).jpg', 'article_date' => '2023-10-04 16:21:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19172', 'article_category_id' => '1', 'title' => 'Bank Deposits Exceed Rs 5800 Billion', 'sub_title' => '', 'summary' => 'October 4: Total deposits in banks and financial institutions have exceeded Rs 5800 billion.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: Total deposits in banks and financial institutions have exceeded Rs 5800 billion. Bank deposits have increased due to the continuous increase in remittance flow and the arrangement made by the government to allow BFIs to calculate the deposits from the accumulated funds at the local level as bank deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the data published by Nepal Rastra Bank, the total deposits in banks and financial institutions as of last Sunday reached Rs 5806 billion. Compared to the previous day, bank deposit increased by Rs 14 billion on Sunday. On Saturday, the deposit portfolio of banks stood at Rs 5792 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The total deposits in the banking system were Rs 5767 billion by the end of the last fiscal year (FY). After the government reduced the facility of calculating 80 per cent of the accumulated funds at the local level as bank deposit to 50 per cent, the deposits decreased by Rs 109 billion in the first two days of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">However, after a discussion with the bankers in early September, Finance Minister Dr Prakash Sharan Mahat allowed banks to consider 60 per cent of the accumulated funds at the local level as bank deposits. Likewise, as the inflow of remittance is high, bank deposits have been increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Despite the increase in bank deposits, the credit flow of BFIs is off the mark. As of Sunday, banks and financial institutions had invested a total of Rs 4932 billion. At the end of last year, the total credit flow of banks stood at Rs 4879 billion, which has increased by Rs 53 billion in two and a half months. Banks are competing to invest in government bonds because there is not much demand for loans compared to the increase in deposit collection.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Along with the increase in bank deposits, the credit-deposit ratio (CD ratio) of banks has also decreased. The CD ratio, which was 82.21 per cent on Saturday, dropped to 82.05 per cent on Sunday. Similarly, as liquidity is high, the average interest rate of interbank transactions has also dropped to 2.52 per cent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Banks are allowed to invest by maintaining a CD ratio of up to 90 per cent. According to this provision, the banks can disburse additional loans of up to Rs 461 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18900', 'image' => '20231004025113_Banks - Copy.jpg', 'article_date' => '2023-10-04 14:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19170', 'article_category_id' => '1', 'title' => 'Government Preparing to Approve FDI up to Rs 500 Million through Automated System', 'sub_title' => '', 'summary' => 'October 4: The Ministry of Industry, Commerce and Supply published a notice in the N.epal Gazette on Monday informing that Foreign Direct Investment (FDI) up to Rs 500 million will be approved through the automated system', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: The Ministry of Industry, Commerce and Supply published a notice in the Nepal Gazette on Monday informing that Foreign Direct Investment (FDI) up to Rs 500 million will be approved through the automated system. However, the government has not yet developed the necessary infrastructure to implement the automated system.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The ministry issued a notice specifying the upper limit of foreign investment approval through automated system and the type of industries. The upper limit of foreign investment to be approved through the automated system is set at Rs 500 million. The minimum limit is Rs 200 million. Foreign investors can use automated system to invest in 60 types of industries and businesses in seven different sections within the limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the information published in the Nepal Gazette, these seven sectors include energy-based projects, agriculture and forest production-based industries and industries related to infrastructure, tourism, information technology, service-oriented and productive sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Baburam Gautam, director general of the Department of Industries, said, “Only investments within the specified limits will be approved through the automated system. The permission to grant investment approval will be done through this system." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that the department will now proceed with the purchase of the software for the automated system after the publication of the notification in the Nepal Gazette. Gautam said, “The system is not ready yet. It will take some time until the system is developed after proceeding with the procurement process of the software.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The department held a press conference in mid-April and announced that the automated system will be used to approve foreign investment. The then director general of the department, Ram Chandra Tiwari, had informed that such a system, which is implemented in India, Bangladesh and other countries, would be implemented in Nepal from May 15.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The department says that despite the announcement, the software was not developed because the government did not release the required budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government had mentioned in the budget statement for the current financial year (FY) 2080/81 that an arrangement will be made for automated system for approval of FDI.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">After the system is established, foreign investors do not need to visit the Department of Industries to get approval for the investment of the specified limit. They can upload the necessary documents in the system while submitting application for the investment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">With the announcement of the automated system for investment the government claimed that it has created an investment-friendly environment in the country.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18898', 'image' => '20231004022051_Foreign investment.jpg', 'article_date' => '2023-10-04 14:19:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19169', 'article_category_id' => '1', 'title' => 'Nepal’s Tourism Business Returning back to Pre-Covid Situation', 'sub_title' => '', 'summary' => 'October 4: With the beginning of the peak tourism season in Nepal, the country has seen an increase in arrival of tourists. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">October 4: With the beginning of the peak tourism season in Nepal, the country has seen an increase in arrival of tourists. This year, foreigners' arrival in September, also known as the start of the tourist season, has reached the level of pre-Covid-19 in 2019.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The tourism data for 2023 shows that arrival of tourists is higher in the peak season than during other months of the year. Spring (March, April and May) and autumn (September, October and November) are considered peak tourism seasons in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In September, the month when the tourist season begins, there has been a significant improvement in the arrival of foreign tourists compared to previous years. In September 2023, 91,012 tourists entered Nepal by air. According to the data released by the Nepal Tourism Board on Sunday, the arrival of tourists in this year's peak season is almost equal to that of 2019, the year before the onset of Covid-19.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In September 2019, a total of 92,604 tourists came to Nepal by air. In 2020 and 21, the number of tourists visiting Nepal in September was low. In those two years, COVID-19 and the ban on cross-border travel and international flights, mandatory quarantine, and the necessity of anti-Covid vaccination affected tourist arrivals. The number of tourists visiting Nepal in September has increased since 2022.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Similarly, the arrival of tourists in May and June this year is also more compared to the corresponding months of 2019. However, tourism entrepreneurs argue that their business has not yet returned to the state of 2019. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Khum Bahadur Subedi, outgoing president of Trekking Agencies Association of Nepal (TAAN), shared that tourism is yet to return to the state of 2019. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He estimates that it will be back to normal in 2024. He said that the current influx of tourists can be considered positive, but he said that during the off-season, tourists could not come due to the effects of the global economic situation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sajan Shakya, general secretary of the Hotel Association Nepal (HAN) believes that the arrival of tourists will increase till November as it is the main season. "We estimate that 300,000 tourists will visit Nepal in September, October and November," Shakya said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the data published by the board, the highest number of tourists came from India in September. A total of 28,694 Indian tourists visited Nepal in September. In terms of numbers, China is second accounting for 8,174 tourists from China in September followed by the United States, Bangladesh, Australia, Britain, Sri Lanka, Germany, South Korea and Israel.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18897', 'image' => '20231004010539_tourism ktm.jpeg', 'article_date' => '2023-10-04 13:04:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19168', 'article_category_id' => '1', 'title' => 'Lawmakers Express Concernes Over Price Hike, Communal Clashes ', 'sub_title' => '', 'summary' => 'October 4: Members of Parliament have expressed concern over the exorbitant price hike of daily essentials and ethnic and communal clashes erupting in different parts of the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 4: Members of Parliament have expressed concern over the exorbitant price hike of daily essentials and ethnic and communal clashes erupting in different parts of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a meeting of the House of Representatives on Tuesday, the lawmakers demanded strong enforcement of law and order to address the issue of communal and ethnic clashes. They also raised the problems faced by the farmers, and the victims of natural disasters including landslide and floods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thakur Prasad Gaire suggested that the government should focus on infrastructure development. Artificial shortage of goods and price hike on the run-up to the festivals is worrying, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Janardan Sharma said time has come to effectively enforce citizen's rights provisioned in the constitution. Peace and order should be maintained in this multi-ethnic, multi-religious and multi-cultural country as per the spirit of the constitution, he said, urging the government to create such atmosphere that the incidents that occurred in eastern Tarai and Nepalgunj would not repeat again. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Hari Dhakal expressed concern saying why none was worried about the declining economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhruba Bahadur Pradhan said that the country needs to improve good governance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pradip Yadav said why some businesspersons were not paying electricity tariff despite repeated prodding by Nepal Electricity Authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Abdul Khan demanded government to removed double taxation on NRNs if they invest in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ram Prakash Chaudhary shared that farmers in some eastern Tarai districts were facing hard times due to scant rainfall, so their problems should be addressed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chitra Bahadur KC questioned why those who failed in exam were recommended for district judges. He further argued it Nepal could not afford federalism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Amaresh Kumar Singh drew the government's attention towards rising cases of attacks on doctors. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18896', 'image' => '20231004122651_20230713052749_parliament building.jpg', 'article_date' => '2023-10-04 12:26:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19167', 'article_category_id' => '1', 'title' => 'CEO Albright Hopeful of Accomplishing MCC Project on Time ', 'sub_title' => '', 'summary' => 'October 4: Chief Executive Officer of Millennium Challenge Corporation (MCC), Alice Albright has said she is confident and optimistic for the timely completion of the MCC project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 4: Chief Executive Officer of Millennium Challenge Corporation (MCC), Alice Albright has said she is confident and optimistic for the timely completion of the MCC project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference organized in the capital on Tuesday, visiting CEO Albright mentioned that she found the Government of Nepal and other stakeholders effortful and dedicated for its implementation as the project has to be completed within five years since its commencement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"MCA Nepal is responsible for implementing MCC. This is a structure under the Nepal government," she added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CEO Albright shared that projects under MCC have been executed in different parts of the world and stressed the need of cooperation from all sides to overcome challenges in course of its implementation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sharing that the high-level meetings and discussions during her Nepal visit were fruitful, she said matters related to the successful implementation of the project were discussed on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During her stay, CEO Albright-led delegation had called on Prime Minister Pushpa Kamal Dahal, former Prime Minister and Nepali Congress President Sher Bahadur Deuba, former Prime Minister and CPN-UML Chairperson KP Sharma Oli, Minister for Foreign Affairs NP Saud, Minister for Finance Dr Prakash Sharan Mahat, Minister for Energy, Water Resource and Irrigation Shakti Bahadur Basnet and Minister for Physical Infrastructure and Transport Prakash Jwala among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that the MCC has already entered into implementation phase, Albright expressed her confidence that the project would be completed in the designated period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MCC CEO further mentioned they had agreed and accepted the interpretive declaration attached to MCC while endorsing the MCC-related proposal by the parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further said MCC was a crucial part of the US foreign grants assistance and its execution would further deepen the Nepal-US relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CEO Albright expressed her hope that the project would help develop reliable electricity service and road network as well as open up new avenues for electricity export through the construction of transmission lines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She went on saying that the projects under such grants would contribute to the economic growth of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also on the occasion, US Ambassador Dean Thompson and MCA Nepal's Executive Director Khadga Bahadur Bisht also responded to the queries of journalists on the project affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MCC compact has already entered into execution phase since August 30. The MCC compact was signed between the Government of Nepal and MCC under the US government on September 14, 2017. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After a long debate, the parliament had endorsed the compact last year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a provision in the compact that the power transmission lines and roads construction project should be completed within five years since the commencement of the project. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-10-04', 'modified' => '2023-10-04', 'keywords' => '', 'description' => '', 'sortorder' => '18895', 'image' => '20231004110852_20230830105937_1693279080.1692757131.1691983136.1690248678.1681795913[1].jpg', 'article_date' => '2023-10-04 11:08:16', '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
