Monsoon-Induced Disaster Affects 163 Highways

Jul 18, 2024 0 1 minutes 3 seconds to read

KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36…

Gold Price Breaks Another Record as it Soars to Rs 149,800 per Tola

Jul 17, 2024 0 1 minutes 23 seconds to read

KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day.…

NEPSE Daily Turnover Hits Nearly Three-Year High

Jul 17, 2024 0 2 minutes 52 seconds to read

…

Prices of Daily Essentials Skyrocketing Due to Supply Chain Disruption

Jul 17, 2024 0 4 minutes 11 seconds to read

KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by…

Credit Expansion of Banks Remain Dismal despite Drop in Interest Rates on Loans

Jul 17, 2024 0 4 minutes 33 seconds to read

KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking…

IPPAN Urges Newly-Appointed Energy Minister to Withdraw Electricity Bill

Jul 17, 2024 0 2 minutes 26 seconds to read

KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be…

Nepali Embassies in Beijing and Muscat Promote Investment Opportunities

Jul 17, 2024 0 1 minutes 15 seconds to read

KATHMANDU: Nepal’s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in…

Bankers Discuss Challenges of the Banking Sector with New Finance Minister

Jul 17, 2024 0 1 minutes 19 seconds to read

KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday.…

Formation of New Government Raises Hope for Economic Boom: FNCCI President

Jul 17, 2024 0 1 minutes 13 seconds to read

KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the…

Earthquake Jolts Mugu this Morning

Jul 17, 2024 0 39 seconds to read

KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM…

Finance Minister Assures Support to Private Sector

Jul 17, 2024 0 1 minutes 37 seconds to read

Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel expressed confidence that the country's economic challenges will be resolved with the formation of a stable government. He attributed these challenges largely to political…

Govt Fails to Meet Revenue Collection and Expenditures Targets

Jul 16, 2024 0 1 minutes 52 seconds to read

KATHMANDU: The government's revenue collection and expenditure fell short of annual targets in the fiscal year 2023-24.…

Over 400,000 Tourists Visited Mustang in FY 2023/24

Jul 16, 2024 0 2 minutes 4 seconds to read

MYAGDI: A total of 427,000 tourists visited Mustang district in one year, using the Beni-Jomsom road to explore different places in the fiscal year…

NEPSE Index Crosses 2300 Mark; Closes at 2310.59

Jul 16, 2024 0 1 minutes 12 seconds to read

The Nepal Stock Exchange (NEPSE) Index experienced a substantial increase of 70.18 points, or 3.13%, surpassing the 2300 mark and settling at 2310.59 on Tuesday, the third trading day of the…

NEPSE Index Increased by 6.83 Percent in One Year

Jul 16, 2024 0 2 minutes 16 seconds to read

KATHMANDU: The NEPSE index increased by 6.83 percent in one…

< previous141516171819202122next >

No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]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' => '21572',
			'article_category_id' => '1',
			'title' => 'Monsoon-Induced Disaster Affects 163 Highways',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours. According to statistics from the Department of Roads, 16 highways across the country are completely obstructed, while 147 are operating one-way.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Vehicular movement has been disrupted due to obstructions on six bridges along the national highways.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the Department of Hydrology and Meteorology said heavy rainfall occurred at one or two places in Koshi, Gandaki, and Sudurpaschim Provinces on Wednesday night.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that heavy rainfall is forecast to occur in various parts of the country until Friday, the Department has requested everyone to remain alert and vigilant.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-18',
			'modified' => '2024-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21298',
			'image' => '20240718052513_monsoon.jpg',
			'article_date' => '2024-07-18 05:24:23',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '21568',
			'article_category_id' => '1',
			'title' => 'Gold Price Breaks Another Record as it Soars to Rs 149,800 per Tola',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. On Tuesday, gold was sold at Rs 147,800 per tola.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of standard gold rose to Rs 149,100 per tola on Wednesday, up from Rs 147,100 per tola on Tuesday.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The recent geopolitical tension due to the Israel&rsquo;s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the price of silver increased by Rs 20 per tola on Wednesday to reach Rs 1,895 per tola. On Tuesday, silver was traded at Rs 1,875 per tola.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21294',
			'image' => '20240717103634_gold newwww.jpg',
			'article_date' => '2024-07-17 22:35:48',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '21565',
			'article_category_id' => '1',
			'title' => 'NEPSE Daily Turnover Hits Nearly Three-Year High',
			'sub_title' => 'The Nepal Stock Exchange recorded share transactions worth Rs 12.05 billion on Wednesday, the highest since August 21, 2021.',
			'summary' => '',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">NewBiz Report</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">KATHMANDU, July 17:&nbsp;</span></span></strong></span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The daily turnover at the Nepal Stock Exchange (NEPSE) reached nearly a three-year high on Wednesday, with share transactions worth Rs 12.05 billion. This marks the highest turnover since August 21, 2021, when transactions amounted to Rs 13.25 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The stock market began to rise following the news of a coalition agreement between the two largest parties, the Nepali Congress and the CPN (UML). The market has been bullish for the past two days since the formation of the KP Oli-led government, with the benchmark index surging by 124.22 points.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;</span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, the Nepse index surged by 54.04 points, closing at 2364.63 points, the highest since May 11, 2022, when it reached 2369.06 points. Investor confidence has rebounded, leading to increased trading volumes. Share volumes rose to 32.09 million on Wednesday, up from 23.89 million on Tuesday. All sub-indices at Nepse showed gains, with the hotel and finance sectors leading the way.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">Stock analysts attribute the recent stock market surge to various factors, including renewed investor confidence. Factors such as the formation of a new government, ample liquidity in the banking system, and continued low interest rates have bolstered investor trust in the stock market. The uptick in trading volumes indicates a resurgence in investor activity, with increased buying and selling of stocks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">During Wednesday&#39;s trading session, share prices of 204 companies saw gains, while six experienced losses. Singati Hydro Energy Limited (SHEL) led in turnover with Rs 235.5 million, and Himal Dolakha Hydropower Company Limited (HDHPC) had the highest trading volume.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, Central Finance Co. Ltd. (CFCL) hit the upper circuit limit after its share price surged by 10 percent. Additionally, shares of five companies&mdash;Singati Hydro Energy, Ankhu Khola Jalvidyut Company, Mandakini Hydropower Limited, CEDB Hydropower Company Limited, and Aarambha Chautari Lagubitta&mdash;rose by more than nine percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21291',
			'image' => '20240717061338_20220725080819_960x0.jpg',
			'article_date' => '2024-07-17 18:12:34',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '21563',
			'article_category_id' => '1',
			'title' => 'Prices of Daily Essentials Skyrocketing Due to Supply Chain Disruption',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In mid-June, Nepal Rastra Bank had announced that overall inflation was the lowest in 32 months, but the prices of daily consumer goods have skyrocketed with the onset of monsoon. Especially the price of eggs has skyrocketed. In the market, the price of large eggs per crate has reached Rs 750 and medium-sized eggs are sold at Rs 660. The price of small eggs has also reached Rs 570 per crate. There are 30 eggs in a crate. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Nepal Layers Poultry Farmers Association recently set the price of eggs at the production site at Rs 530 per crate for large eggs, Rs 510 for medium eggs, and Rs 490 for small eggs. Businessmen shared that the price of eggs has increased after the H9 virus infection increased and chickens started dying all over the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Pravin KC, president of Nepal Egg Producers Association, about 1.5 million layer chickens died in the country due to the disease during summer. He said that with the death of chickens, egg production has decreased by 50 percent and its effect is currently visible in the price. According to KC, around 2.4 to 2.5 million eggs are produced daily in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It is said that despite the increase in consumer prices, farmers are still unable to get a fair price. Small farmers are no longer able to raise chickens after the &#39;H9&#39; virus infection started killing chicken. Stakeholders alleged that some large and limited farmers are taking over the egg market and raising the price arbitrarily.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the &#39;H9&#39; virus does not show a high mortality rate like the well-known bird flu disease, sometimes entire chickens on the farm die due to the infection of other diseases along with this virus. The Department of Livestock Services has informed that the government will not provide relief and compensation for this infection unlike in the case of bird flu. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the department, it is the government&#39;s policy to get relief only if chickens die due to infection with the H-5 bird flu virus. The meeting of Nepal Layers Poultry Farmers Association held on July 12 has increased the price of eggs from the same date.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, due to the continuous rains, the condition of the roads has deteriorated following floods and landslides in various places and the vegetables grown in the farmers&#39; fields have also been damaged by the rains. The Kalimati Fruit and Vegetable Market Development Committee has said that the prices of vegetables have increased by 200 percent in the Kalimati wholesale market in the last two weeks. The price of green pumpkin was Rs 25 per kg on July 1, but it has now reached Rs 75. Similarly, the price of bitter gourd rose from Rs 36 per kg to Rs 95. The general public has to pay more in the retail market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Geeta Prasad Acharya, president of Kalimati Fruit and Vegetable Market Traders&#39; Committee, said that the price of seasonal and green vegetables has increased due to the problem of vehicular movement due to continuous rains. Vegetables brought from the districts near the Kathmandu Valley have arrived, but there is a problem in bringing vegetables from the Terai districts and India due to the floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank recently released a report that showed the overall inflation was 4.17 percent in mid-June. This inflation rate is the lowest in 32 months. According to the Central Bank, although the price of the non-food group has decreased significantly, the price of the food and beverage group is high. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report published by the central bank mentions that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21289',
			'image' => '20240717014227_inflationnnnnn.jpg',
			'article_date' => '2024-07-17 13:41:43',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '21562',
			'article_category_id' => '218',
			'title' => 'Credit Expansion of Banks Remain Dismal despite Drop in Interest Rates on Loans',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system. The increase in liquidity has led banks to reduce interest rates on deposits, lowering costs and making interest on loans cheaper.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to information published by the banks, the quarterly average base rate of commercial banks was 8.35 percent from mid-May to mid-June of the current fiscal year. At the beginning of the previous year, the average quarterly base rate was 10.14 percent, but it decreased by 1.79 percentage points towards the end of the fiscal year. As banks reduced interest on deposits from mid-May to mid-July, it appears that the quarterly base rate to be implemented from mid-July will be even lower.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">With the decrease in the base rate, interest on loans have also become cheaper. According to the base rate determination procedure, banks and financial institutions determine the base rate by adding a 0.75 percent return to their cost. Banks then determine interest in loans by adding a premium to the base rate, with the current maximum premium being 4 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The base rate for the last three months is used when investing in a new loan, and the premium specified in the loan agreement cannot be changed. Thus, when the average base rate decreases each quarter, interest on loans automatically decrease and vice versa.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">From mid-May to mid-June, Standard Chartered Bank had the lowest quarterly base rate among commercial banks at 6.26 percent, while Kumari Bank had the highest at 9.48 percent. Sixteen banks have base rates below 9 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;In the current year, after banks reduced interest on deposits, interest rates on loans also decreased,&quot; said former banker Parshuram Kunwar Chhetri. &quot;However, interest rates on loans are still high.&quot; He explained that due to the lack of liquidity in previous years, banks raised long-term deposits at high interest rates, which kept loan interest rates from decreasing as expected. &quot;The cost of banks is high because they raised deposits at high prices in the past. It seems that interest on loans will remain high until new, cheaper deposits are introduced.&quot;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Due to the lack of liquidity, interest rates increased in previous years, but they have started to decrease since the recently ended fiscal year. As liquidity began to ease, the Nepal Bankers Association decided to end the gentlemen&rsquo;s agreement at the beginning of the last fiscal year (mid-July 2023) and set interest rates at will. After that, the interest rates on deposits increased slightly until October but have been continuously decreasing since then.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In last July, the average interest rate on deposit of commercial banks was 9.83 percent, but it reached 10.26 percent in October. Since then, the average interest rate has continuously decreased to 6.72 percent as of July this year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Although the interest rates on loans have dropped, the credit flow from banks has not increased. By May, deposits in banks and financial institutions increased by 9 percent, while credit flow to the private sector increased by only 5.1 percent. The NRB&#39;s monetary policy for the year 2080/81 targets 11.5 percent credit expansion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Due to the increase in deposits, there is more than Rs 700 billion of investable capital in banks and financial institutions due to a lack of credit flow. By Sunday, banks and financial institutions had collected a total of Rs 6482 billion in deposits and disbursed loans of 5160 billion. On Sunday, the average credit-deposit ratio (CD ratio) of banks fell to 77.61 percent. Banks can grant loans by maintaining a CD ratio of up to 90 percent.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21288',
			'image' => '20240717011652_20240624011617_bankkkkkkk.jpg',
			'article_date' => '2024-07-17 13:16:21',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '21561',
			'article_category_id' => '1',
			'title' => 'IPPAN Urges Newly-Appointed Energy Minister to Withdraw Electricity Bill',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.<br />
Speaking at a program organized on the occasion of the 31st anniversary of the Department of Electricity Development, Dangi urged the newly appointed Energy Minister Deepak Khadka to withdraw the Electricity Bill 2080 and said that the bill should be amended. According to Dangi, the Electricity Act 2049 will be broadly accepted if it is amended to ensure the participation of the private sector in the electricity trade.<br />
Dangi also mentioned that 31 hydropower projects damaged by last year&#39;s floods were unable to import goods under customs exemption due to the removal of the customs facility on spare parts given by the Electricity Act 2049. He urged the newly appointed energy minister to address this issue.<br />
Additionally, Dangi noted that the private sector has faced uncontrollable situations such as floods and landslides, and requested for an extension of the Required Commercial Operation Date (RCOD) for all hydropower projects. He emphasized that Minister Khadka should pay attention to this matter as well.<br />
Dangi further stated that the representation of the private sector, which accounts for 70 percent of the 3300 MW installed capacity of electricity, should be made mandatory in the various committees formed by the Ministry of Energy. This would create an environment where the private sector&#39;s concerns are heard, said Dangi. He also highlighted the need for all agencies related to the energy sector to work for the benefit of the 6 million investors who have invested in hydropower through the stock market.<br />
Similarly, while addressing the program, the newly appointed Energy Minister, Deepak Khadka, said that he would make sincere efforts on behalf of the Ministry of Energy to address the demands of the private sector.<br />
Recalling that more than 25 people died in his constituency and that many electricity projects were directly affected by the flood, Khadka said that not only hydropower promoters and farmers, but also other common people and businessmen were indirectly affected by natural disasters.<br />
&quot;The energy sector is the basis of Nepal&#39;s prosperity. Right now, this sector is contributing Rs 4 billion to Rs 5 billion in revenue annually,&quot; Khadka said. &quot;In the coming days, we need to think about how much we can increase its contribution.&quot;<br />
Khadka also mentioned that it is not possible to meet this demand without the help and support of the private sector as the government plans to export 10,000 megawatts of electricity to India in the near future, while domestic consumption is also expected to rise.<br />
Khadka emphasized that the government and the private sector should work together to build the country.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21287',
			'image' => '20240717114645_IPPAN-Independent-Power-Producers-Association-Nepal.jpg',
			'article_date' => '2024-07-17 11:45:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '21560',
			'article_category_id' => '1',
			'title' => 'Nepali Embassies in Beijing and Muscat Promote Investment Opportunities',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">During the event organized by the embassy in Beijing on Sunday, Nepalese Ambassador to China Bishnu Pukar Shrestha urged Chinese investors, businessmen, and media representatives to consider mobilizing capital confidently. He emphasized that Nepal offers ample investment opportunities with attractive returns.<br />
Wang Kevin, deputy secretary general of the China Overseas Development Organization, stated that China is the largest investor in Nepal, noting that hundreds of Nepalis have found employment opportunities as a result. Having recently participated in an investment summit in Nepal, he emphasized the numerous opportunities for cooperation and partnership between the two nations. According to the Nepali embassy in Beijing, he highlighted Nepal&#39;s water resources sector as the most attractive investment destination.<br />
Meanwhile, in a program held in Muscat on the same day, Nepali Ambassador to Oman Dornath Aryal urged investors in Oman to consider investing in tourism, infrastructure, and energy projects with promising returns, emphasizing the need to balance trade with Oman. Ambassador Aryal also encouraged Nepali expatriates to leverage their skills and capital for the development of their homeland.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21286',
			'image' => '20240717111706_AB620068@5451D21D.BA88946600000000_recompress.jpg',
			'article_date' => '2024-07-17 11:16:15',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '21559',
			'article_category_id' => '1',
			'title' => 'Bankers Discuss Challenges of the Banking Sector with New Finance Minister',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. During the meeting, Sunil KC, president of the association, highlighted the banking sector&#39;s contribution to the country&#39;s economic growth and discussed the recent challenges faced by the sector.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KC emphasized the need for the government to work towards making the economy sustainable, especially given the current market instability caused by the contraction in credit expansion and declining interest rates of banks and financial institutions. He also addressed the recent negative public perception of the financial sector, targeted attacks on banks and financial institutions, declining bank returns, and the increase in bad loans. He assured that the banking sector is committed to supporting the government in achieving financial stability and economic development.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Prime Minister and Finance Minister Paudel commended the contributions made by banks and financial institutions. He stressed that all stakeholders must collaborate to address the economic challenges and work towards sustainability. Paudel highlighted the importance of boosting economic activities by increasing the confidence of the general public, entrepreneurs, and businessmen, identifying this as a primary challenge for the current economy.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21285',
			'image' => '20240717104126_bb31ab81.jpeg',
			'article_date' => '2024-07-17 10:40:50',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '21558',
			'article_category_id' => '1',
			'title' => 'Formation of New Government Raises Hope for Economic Boom: FNCCI President',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;This development has inspired the business community,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Describing political and policy instability as major obstacles to building an investment-friendly environment in the nation, Dhakal said the new government is expected to address these issues, thereby boosting economic activities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;We have been dealing with an economic slowdown since the COVID-19 pandemic, and political instability has exacerbated the situation,&quot; Dhakal told RSS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He expressed hope that the new government, led by CPN (UML) Chair KP Sharma Oli and supported by the largest party in parliament, the Nepali Congress, would pave the way for economic revival. -- RSS</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21284',
			'image' => '20240717100021_chandra-sir-cover.jpeg',
			'article_date' => '2024-07-17 09:59:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '21557',
			'article_category_id' => '1',
			'title' => 'Earthquake Jolts Mugu this Morning',
			'sub_title' => '',
			'summary' => 'KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today, according to the National Earthquake Monitoring and Research Centre, Lainchaur. The earthquake measured 3.9 on the Richter scale.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Prior to this, an earthquake was recorded at Tapethok in Taplejung, an eastern hill district of Nepal, on July 10. Recently, Nepal has experienced several minor earthquakes.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal is considered a country vulnerable to earthquakes. -- RSS</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21283',
			'image' => '20240717094042_20230324121121_earth.jpg',
			'article_date' => '2024-07-17 09:39:19',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '21556',
			'article_category_id' => '1',
			'title' => 'Finance Minister Assures Support to Private Sector',
			'sub_title' => '',
			'summary' => 'Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel expressed confidence that the country's economic challenges will be resolved with the formation of a stable government. He attributed these challenges largely to political instability.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">July 17: Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel expressed confidence that the country&#39;s economic challenges will be resolved with the formation of a stable government. He attributed these challenges largely to political instability.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In a meeting with representatives of the Nepal Bankers&#39; Association on Tuesday, Poudel emphasized the government&#39;s determination to address issues across all sectors.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;He urged bankers to convey a positive message to the market, highlighting the government&#39;s focus on overcoming the country&#39;s economic difficulties. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;Global factors and some internal reasons have contributed to the economic slowdown, but political instability is the main cause,&quot; Poudel stated. &quot;However, we now have a strong and stable government.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel acknowledged the public and private sector&#39;s frustrations, identifying them as a major challenge. He assured bankers that the government would provide support to all sectors and indicated a willingness to implement policy interventions if necessary for economic reform.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel also mentioned that the central bank would soon introduce a prudent monetary policy. While acknowledging the autonomy of the Nepal Rastra Bank, Poudel expressed confidence that it would address the legitimate demands of the banking sector.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Regarding the issue of overdue payments to construction entrepreneurs, Poudel promised to take a right decision soon after a thorough review. </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21282',
			'image' => '20240717055420_collage (69).jpg',
			'article_date' => '2024-07-17 05:52:40',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '42'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '21555',
			'article_category_id' => '1',
			'title' => 'Govt Fails to Meet Revenue Collection and Expenditures Targets   ',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The government's revenue collection and expenditure fell short of annual targets in the fiscal year 2023-24. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The government&#39;s revenue collection and expenditure fell short of annual targets in the fiscal year 2023-24, which ended on Monday. According to the Office of the Auditor General, revenue collection stood at 74.29% of the target, while budget expenditures amounted to 80.44%.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had allocated a total budget of Rs 1,751 billion for the fiscal year. By mid-July 2024, expenditures reached Rs 1,408 billion. Specifically, expenditures under the recurrent heading amounted to Rs 952 billion, which is 83.41% of the allocated budget of Rs 1,141 billion. Expenditures under the capital heading was Rs 191.7 billion, representing 63.47% of the allocated budget of Rs 302 billion. Expenditures under the financial management heading totaled Rs 264.6 billion, reaching 86.07% of the allocated budget of Rs 307.4 billion for the fiscal year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had set a revenue collection target of Rs 1,472 billion but collected Rs 1,093 billion, achieving 74.29% of the target.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had set a target of receiving foreign grants of Rs 49.94 billion but the actual realization stood at Rs 11.22 billion, achieving only 22.48% of the target.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Despite revising the budget twice, the government failed to meet its goals. The revised estimates of budget, presented by outgoing Finance Minister Barsha Man Pun on May 28, stood at Rs 1,530 billion, which is 87.4% of the initial budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Expenditure estimates were revised to 88.84% for the current heading, 84.13% for the capital heading, and 87.39% for the financial management heading compared to initial allocations.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Through the mid-term review of the budget, the government had allocated Rs 1,067 billion towards current expenditure, Rs 215 billion towards capital expenditure, and Rs 247 billion towards financial management. Similarly, the revenue collection target was reset at Rs 1.253 trillion.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21281',
			'image' => '20240716083744_20230511021044_1683767264.jpg',
			'article_date' => '2024-07-16 20:36:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '21554',
			'article_category_id' => '1',
			'title' => 'Over 400,000 Tourists Visited Mustang in FY 2023/24',
			'sub_title' => '',
			'summary' => 'MYAGDI: A total of 427,000 tourists visited Mustang district in one year, using the Beni-Jomsom road to explore different places in the fiscal year 2023/24.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">MYAGDI: A total of 427,000 tourists visited Mustang district in one year, using the Beni-Jomsom road to explore different places in the fiscal year 2023/24. This marks an increase of 47,504 tourists compared to the previous fiscal year, 2022/23.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Ghasa Police Post records the number of tourists and vehicles entering Mustang via the land route. According to Deputy Superintendent of Police at the District Police Office, Mustang, Bhoj Raj Pandey, 427,271 tourists in 74,374 vehicles entered Mustang in the last fiscal year. Of these, 318,814 were domestic tourists, 99,276 were from SAARC countries, and 9,171 were from other countries.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In the fiscal year 2022/23, a total of 379,767 tourists&mdash;303,800 domestic and 75,967 foreign tourists&mdash;visited Mustang in 62,340 vehicles.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Krishna Prasad Subedi, a priest at Muktinath Temple, attributed the increase in tourists to improved road and transport facilities, publicity, digital marketing, the construction of modern hotels, and the inclusion of the Annapurna Circuit Trek among the world&#39;s top 10 destinations by a renowned media outlet.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Mustang&#39;s attractions include mountains, lakes, monasteries, Muktinath Temple, caves, culture, and lifestyle. Key destinations in Mustang include Muktinath, Jomsom, Kagbeni, Lomanthang, Marpha, Thini, and Dhumba Lake.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">However, Rinjin Gurung, Chairperson of Baragung Muktichhetra Rural Municipality, noted a decrease in the number of tourists from non-SAARC countries. He suggested that blacktopping the Beni-Jomsom road might increase tourist arrivals.&nbsp; -- RSS</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21280',
			'image' => '20240716042546_20230724112952_20220424035529_istockphoto-534638391-612x612.jpg',
			'article_date' => '2024-07-16 16:25:13',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '21553',
			'article_category_id' => '1',
			'title' => 'NEPSE Index Crosses 2300 Mark; Closes at 2310.59',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index experienced a substantial increase of 70.18 points, or 3.13%, surpassing the 2300 mark and settling at 2310.59 on Tuesday, the third trading day of the week.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 16: The Nepal Stock Exchange (NEPSE) Index experienced a substantial increase of 70.18 points, or 3.13%, surpassing the 2300 mark and settling at 2310.59 on Tuesday, the third trading day of the week.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&#39;s trading session, 315 scrips were traded through 119,011 transactions on NEPSE. A total of 25,836,285 units of shares were exchanged, resulting in a total turnover of Rs 9.13 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ngadi Group Power Limited (NGPL) led the turnover with a total transaction amount of Rs 21 crores. Five companies, including Sindhu Bikash Bank Limited (SINDU), Barun Hydropower Company Limited (BARUN), and Green Development Bank Limited (GRDBL), each saw their stock prices hit the positive circuit of a 10% increase for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, the 10.5% Nepal Investment Debenture 2082 (NIBD2082), NIBL Growth Fund (NIBLGF), and the 11% L.B.B.L Debenture 2089 (LBBLD89) each lost 10% and hit the negative circuit for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sectoral performance, all sectors closed in the positive territory except for Mutual Funds. The Hydropower Index and Development Index spiked by 5.45% and 4.94%, respectively. Mutual Funds witnessed a minimal loss of 0.42%.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21279',
			'image' => '20240716035526_collage (3).jpg',
			'article_date' => '2024-07-16 15:54:28',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '42'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '21552',
			'article_category_id' => '1',
			'title' => 'NEPSE Index Increased by 6.83 Percent in One Year',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The NEPSE index increased by 6.83 percent in one year.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">KATHMANDU: The NEPSE index increased by 6.83 percent in one year. According to the Nepal Stock Exchange (NEPSE), the NEPSE index which was 2097.09 points on the last trading day of the fiscal year (2079/80) reached 2240.41 points on the last trading day of the last fiscal year 2080/81 which ended on July 15.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over the past year, among the 13 group indices traded on NEPSE, four groups experienced declines, while the indices of the remaining groups increased. Investors in the finance group earned the most, with the index of this group rising by 35.26 percent. The index, which was at 1,925.33 points on July 16, 2023, increased to 2604.16 points by July 15, 2024.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">In recent months, investors&rsquo; interest has particularly focused on shares of companies with a low number of shares, especially within the finance group. Investors attribute this trend to the limited supply of shares from companies with low capital, thus increasing the demand for and attractiveness of finance group shares.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Mutual fund group investors were the second highest earners over the year. The index for this group increased by 34.79 percent, rising from 15.15 points on July 16 of last year to 20.42 points on July 15 this year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The production and processing group was third in the list of top earners, with its index increasing by 19.34 percent over the year, moving from 5,637.51 points last year to 6727.70 points this year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The microfinance group saw its index rise by 18.99 percent, from 449.56 points last year to 4818.40 points this year, placing it fourth among the highest earners.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Conversely, the life insurance group experienced the most significant decline, with its index decreasing by 10.20 percent over the year. The index dropped from 11,991.15 points last year to 10,767.60 points this year, making investors in the life insurance group the biggest losers during this period.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21278',
			'image' => '20240716025651_20200303040000_Nepse Achieves Another Milestone with All-Time High Transactions.jpg',
			'article_date' => '2024-07-16 14:56:14',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	)
)
$current_user = null
$logged_in = false
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

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 &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]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' => '21572',
			'article_category_id' => '1',
			'title' => 'Monsoon-Induced Disaster Affects 163 Highways',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours. According to statistics from the Department of Roads, 16 highways across the country are completely obstructed, while 147 are operating one-way.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Vehicular movement has been disrupted due to obstructions on six bridges along the national highways.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the Department of Hydrology and Meteorology said heavy rainfall occurred at one or two places in Koshi, Gandaki, and Sudurpaschim Provinces on Wednesday night.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that heavy rainfall is forecast to occur in various parts of the country until Friday, the Department has requested everyone to remain alert and vigilant.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-18',
			'modified' => '2024-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21298',
			'image' => '20240718052513_monsoon.jpg',
			'article_date' => '2024-07-18 05:24:23',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '21568',
			'article_category_id' => '1',
			'title' => 'Gold Price Breaks Another Record as it Soars to Rs 149,800 per Tola',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. On Tuesday, gold was sold at Rs 147,800 per tola.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of standard gold rose to Rs 149,100 per tola on Wednesday, up from Rs 147,100 per tola on Tuesday.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The recent geopolitical tension due to the Israel&rsquo;s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the price of silver increased by Rs 20 per tola on Wednesday to reach Rs 1,895 per tola. On Tuesday, silver was traded at Rs 1,875 per tola.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21294',
			'image' => '20240717103634_gold newwww.jpg',
			'article_date' => '2024-07-17 22:35:48',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '21565',
			'article_category_id' => '1',
			'title' => 'NEPSE Daily Turnover Hits Nearly Three-Year High',
			'sub_title' => 'The Nepal Stock Exchange recorded share transactions worth Rs 12.05 billion on Wednesday, the highest since August 21, 2021.',
			'summary' => '',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">NewBiz Report</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">KATHMANDU, July 17:&nbsp;</span></span></strong></span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The daily turnover at the Nepal Stock Exchange (NEPSE) reached nearly a three-year high on Wednesday, with share transactions worth Rs 12.05 billion. This marks the highest turnover since August 21, 2021, when transactions amounted to Rs 13.25 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The stock market began to rise following the news of a coalition agreement between the two largest parties, the Nepali Congress and the CPN (UML). The market has been bullish for the past two days since the formation of the KP Oli-led government, with the benchmark index surging by 124.22 points.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;</span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, the Nepse index surged by 54.04 points, closing at 2364.63 points, the highest since May 11, 2022, when it reached 2369.06 points. Investor confidence has rebounded, leading to increased trading volumes. Share volumes rose to 32.09 million on Wednesday, up from 23.89 million on Tuesday. All sub-indices at Nepse showed gains, with the hotel and finance sectors leading the way.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">Stock analysts attribute the recent stock market surge to various factors, including renewed investor confidence. Factors such as the formation of a new government, ample liquidity in the banking system, and continued low interest rates have bolstered investor trust in the stock market. The uptick in trading volumes indicates a resurgence in investor activity, with increased buying and selling of stocks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">During Wednesday&#39;s trading session, share prices of 204 companies saw gains, while six experienced losses. Singati Hydro Energy Limited (SHEL) led in turnover with Rs 235.5 million, and Himal Dolakha Hydropower Company Limited (HDHPC) had the highest trading volume.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, Central Finance Co. Ltd. (CFCL) hit the upper circuit limit after its share price surged by 10 percent. Additionally, shares of five companies&mdash;Singati Hydro Energy, Ankhu Khola Jalvidyut Company, Mandakini Hydropower Limited, CEDB Hydropower Company Limited, and Aarambha Chautari Lagubitta&mdash;rose by more than nine percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21291',
			'image' => '20240717061338_20220725080819_960x0.jpg',
			'article_date' => '2024-07-17 18:12:34',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '21563',
			'article_category_id' => '1',
			'title' => 'Prices of Daily Essentials Skyrocketing Due to Supply Chain Disruption',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In mid-June, Nepal Rastra Bank had announced that overall inflation was the lowest in 32 months, but the prices of daily consumer goods have skyrocketed with the onset of monsoon. Especially the price of eggs has skyrocketed. In the market, the price of large eggs per crate has reached Rs 750 and medium-sized eggs are sold at Rs 660. The price of small eggs has also reached Rs 570 per crate. There are 30 eggs in a crate. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Nepal Layers Poultry Farmers Association recently set the price of eggs at the production site at Rs 530 per crate for large eggs, Rs 510 for medium eggs, and Rs 490 for small eggs. Businessmen shared that the price of eggs has increased after the H9 virus infection increased and chickens started dying all over the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Pravin KC, president of Nepal Egg Producers Association, about 1.5 million layer chickens died in the country due to the disease during summer. He said that with the death of chickens, egg production has decreased by 50 percent and its effect is currently visible in the price. According to KC, around 2.4 to 2.5 million eggs are produced daily in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It is said that despite the increase in consumer prices, farmers are still unable to get a fair price. Small farmers are no longer able to raise chickens after the &#39;H9&#39; virus infection started killing chicken. Stakeholders alleged that some large and limited farmers are taking over the egg market and raising the price arbitrarily.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the &#39;H9&#39; virus does not show a high mortality rate like the well-known bird flu disease, sometimes entire chickens on the farm die due to the infection of other diseases along with this virus. The Department of Livestock Services has informed that the government will not provide relief and compensation for this infection unlike in the case of bird flu. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the department, it is the government&#39;s policy to get relief only if chickens die due to infection with the H-5 bird flu virus. The meeting of Nepal Layers Poultry Farmers Association held on July 12 has increased the price of eggs from the same date.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, due to the continuous rains, the condition of the roads has deteriorated following floods and landslides in various places and the vegetables grown in the farmers&#39; fields have also been damaged by the rains. The Kalimati Fruit and Vegetable Market Development Committee has said that the prices of vegetables have increased by 200 percent in the Kalimati wholesale market in the last two weeks. The price of green pumpkin was Rs 25 per kg on July 1, but it has now reached Rs 75. Similarly, the price of bitter gourd rose from Rs 36 per kg to Rs 95. The general public has to pay more in the retail market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Geeta Prasad Acharya, president of Kalimati Fruit and Vegetable Market Traders&#39; Committee, said that the price of seasonal and green vegetables has increased due to the problem of vehicular movement due to continuous rains. Vegetables brought from the districts near the Kathmandu Valley have arrived, but there is a problem in bringing vegetables from the Terai districts and India due to the floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank recently released a report that showed the overall inflation was 4.17 percent in mid-June. This inflation rate is the lowest in 32 months. According to the Central Bank, although the price of the non-food group has decreased significantly, the price of the food and beverage group is high. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report published by the central bank mentions that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21289',
			'image' => '20240717014227_inflationnnnnn.jpg',
			'article_date' => '2024-07-17 13:41:43',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '21562',
			'article_category_id' => '218',
			'title' => 'Credit Expansion of Banks Remain Dismal despite Drop in Interest Rates on Loans',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system. The increase in liquidity has led banks to reduce interest rates on deposits, lowering costs and making interest on loans cheaper.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to information published by the banks, the quarterly average base rate of commercial banks was 8.35 percent from mid-May to mid-June of the current fiscal year. At the beginning of the previous year, the average quarterly base rate was 10.14 percent, but it decreased by 1.79 percentage points towards the end of the fiscal year. As banks reduced interest on deposits from mid-May to mid-July, it appears that the quarterly base rate to be implemented from mid-July will be even lower.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">With the decrease in the base rate, interest on loans have also become cheaper. According to the base rate determination procedure, banks and financial institutions determine the base rate by adding a 0.75 percent return to their cost. Banks then determine interest in loans by adding a premium to the base rate, with the current maximum premium being 4 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The base rate for the last three months is used when investing in a new loan, and the premium specified in the loan agreement cannot be changed. Thus, when the average base rate decreases each quarter, interest on loans automatically decrease and vice versa.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">From mid-May to mid-June, Standard Chartered Bank had the lowest quarterly base rate among commercial banks at 6.26 percent, while Kumari Bank had the highest at 9.48 percent. Sixteen banks have base rates below 9 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;In the current year, after banks reduced interest on deposits, interest rates on loans also decreased,&quot; said former banker Parshuram Kunwar Chhetri. &quot;However, interest rates on loans are still high.&quot; He explained that due to the lack of liquidity in previous years, banks raised long-term deposits at high interest rates, which kept loan interest rates from decreasing as expected. &quot;The cost of banks is high because they raised deposits at high prices in the past. It seems that interest on loans will remain high until new, cheaper deposits are introduced.&quot;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Due to the lack of liquidity, interest rates increased in previous years, but they have started to decrease since the recently ended fiscal year. As liquidity began to ease, the Nepal Bankers Association decided to end the gentlemen&rsquo;s agreement at the beginning of the last fiscal year (mid-July 2023) and set interest rates at will. After that, the interest rates on deposits increased slightly until October but have been continuously decreasing since then.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In last July, the average interest rate on deposit of commercial banks was 9.83 percent, but it reached 10.26 percent in October. Since then, the average interest rate has continuously decreased to 6.72 percent as of July this year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Although the interest rates on loans have dropped, the credit flow from banks has not increased. By May, deposits in banks and financial institutions increased by 9 percent, while credit flow to the private sector increased by only 5.1 percent. The NRB&#39;s monetary policy for the year 2080/81 targets 11.5 percent credit expansion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Due to the increase in deposits, there is more than Rs 700 billion of investable capital in banks and financial institutions due to a lack of credit flow. By Sunday, banks and financial institutions had collected a total of Rs 6482 billion in deposits and disbursed loans of 5160 billion. On Sunday, the average credit-deposit ratio (CD ratio) of banks fell to 77.61 percent. Banks can grant loans by maintaining a CD ratio of up to 90 percent.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21288',
			'image' => '20240717011652_20240624011617_bankkkkkkk.jpg',
			'article_date' => '2024-07-17 13:16:21',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '21561',
			'article_category_id' => '1',
			'title' => 'IPPAN Urges Newly-Appointed Energy Minister to Withdraw Electricity Bill',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.<br />
Speaking at a program organized on the occasion of the 31st anniversary of the Department of Electricity Development, Dangi urged the newly appointed Energy Minister Deepak Khadka to withdraw the Electricity Bill 2080 and said that the bill should be amended. According to Dangi, the Electricity Act 2049 will be broadly accepted if it is amended to ensure the participation of the private sector in the electricity trade.<br />
Dangi also mentioned that 31 hydropower projects damaged by last year&#39;s floods were unable to import goods under customs exemption due to the removal of the customs facility on spare parts given by the Electricity Act 2049. He urged the newly appointed energy minister to address this issue.<br />
Additionally, Dangi noted that the private sector has faced uncontrollable situations such as floods and landslides, and requested for an extension of the Required Commercial Operation Date (RCOD) for all hydropower projects. He emphasized that Minister Khadka should pay attention to this matter as well.<br />
Dangi further stated that the representation of the private sector, which accounts for 70 percent of the 3300 MW installed capacity of electricity, should be made mandatory in the various committees formed by the Ministry of Energy. This would create an environment where the private sector&#39;s concerns are heard, said Dangi. He also highlighted the need for all agencies related to the energy sector to work for the benefit of the 6 million investors who have invested in hydropower through the stock market.<br />
Similarly, while addressing the program, the newly appointed Energy Minister, Deepak Khadka, said that he would make sincere efforts on behalf of the Ministry of Energy to address the demands of the private sector.<br />
Recalling that more than 25 people died in his constituency and that many electricity projects were directly affected by the flood, Khadka said that not only hydropower promoters and farmers, but also other common people and businessmen were indirectly affected by natural disasters.<br />
&quot;The energy sector is the basis of Nepal&#39;s prosperity. Right now, this sector is contributing Rs 4 billion to Rs 5 billion in revenue annually,&quot; Khadka said. &quot;In the coming days, we need to think about how much we can increase its contribution.&quot;<br />
Khadka also mentioned that it is not possible to meet this demand without the help and support of the private sector as the government plans to export 10,000 megawatts of electricity to India in the near future, while domestic consumption is also expected to rise.<br />
Khadka emphasized that the government and the private sector should work together to build the country.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21287',
			'image' => '20240717114645_IPPAN-Independent-Power-Producers-Association-Nepal.jpg',
			'article_date' => '2024-07-17 11:45:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '21560',
			'article_category_id' => '1',
			'title' => 'Nepali Embassies in Beijing and Muscat Promote Investment Opportunities',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">During the event organized by the embassy in Beijing on Sunday, Nepalese Ambassador to China Bishnu Pukar Shrestha urged Chinese investors, businessmen, and media representatives to consider mobilizing capital confidently. He emphasized that Nepal offers ample investment opportunities with attractive returns.<br />
Wang Kevin, deputy secretary general of the China Overseas Development Organization, stated that China is the largest investor in Nepal, noting that hundreds of Nepalis have found employment opportunities as a result. Having recently participated in an investment summit in Nepal, he emphasized the numerous opportunities for cooperation and partnership between the two nations. According to the Nepali embassy in Beijing, he highlighted Nepal&#39;s water resources sector as the most attractive investment destination.<br />
Meanwhile, in a program held in Muscat on the same day, Nepali Ambassador to Oman Dornath Aryal urged investors in Oman to consider investing in tourism, infrastructure, and energy projects with promising returns, emphasizing the need to balance trade with Oman. Ambassador Aryal also encouraged Nepali expatriates to leverage their skills and capital for the development of their homeland.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21286',
			'image' => '20240717111706_AB620068@5451D21D.BA88946600000000_recompress.jpg',
			'article_date' => '2024-07-17 11:16:15',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '21559',
			'article_category_id' => '1',
			'title' => 'Bankers Discuss Challenges of the Banking Sector with New Finance Minister',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. During the meeting, Sunil KC, president of the association, highlighted the banking sector&#39;s contribution to the country&#39;s economic growth and discussed the recent challenges faced by the sector.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KC emphasized the need for the government to work towards making the economy sustainable, especially given the current market instability caused by the contraction in credit expansion and declining interest rates of banks and financial institutions. He also addressed the recent negative public perception of the financial sector, targeted attacks on banks and financial institutions, declining bank returns, and the increase in bad loans. He assured that the banking sector is committed to supporting the government in achieving financial stability and economic development.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Prime Minister and Finance Minister Paudel commended the contributions made by banks and financial institutions. He stressed that all stakeholders must collaborate to address the economic challenges and work towards sustainability. Paudel highlighted the importance of boosting economic activities by increasing the confidence of the general public, entrepreneurs, and businessmen, identifying this as a primary challenge for the current economy.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21285',
			'image' => '20240717104126_bb31ab81.jpeg',
			'article_date' => '2024-07-17 10:40:50',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '21558',
			'article_category_id' => '1',
			'title' => 'Formation of New Government Raises Hope for Economic Boom: FNCCI President',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;This development has inspired the business community,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Describing political and policy instability as major obstacles to building an investment-friendly environment in the nation, Dhakal said the new government is expected to address these issues, thereby boosting economic activities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;We have been dealing with an economic slowdown since the COVID-19 pandemic, and political instability has exacerbated the situation,&quot; Dhakal told RSS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He expressed hope that the new government, led by CPN (UML) Chair KP Sharma Oli and supported by the largest party in parliament, the Nepali Congress, would pave the way for economic revival. -- RSS</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21284',
			'image' => '20240717100021_chandra-sir-cover.jpeg',
			'article_date' => '2024-07-17 09:59:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '21557',
			'article_category_id' => '1',
			'title' => 'Earthquake Jolts Mugu this Morning',
			'sub_title' => '',
			'summary' => 'KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today, according to the National Earthquake Monitoring and Research Centre, Lainchaur. The earthquake measured 3.9 on the Richter scale.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Prior to this, an earthquake was recorded at Tapethok in Taplejung, an eastern hill district of Nepal, on July 10. Recently, Nepal has experienced several minor earthquakes.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal is considered a country vulnerable to earthquakes. -- RSS</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21283',
			'image' => '20240717094042_20230324121121_earth.jpg',
			'article_date' => '2024-07-17 09:39:19',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '21556',
			'article_category_id' => '1',
			'title' => 'Finance Minister Assures Support to Private Sector',
			'sub_title' => '',
			'summary' => 'Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel expressed confidence that the country's economic challenges will be resolved with the formation of a stable government. He attributed these challenges largely to political instability.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">July 17: Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel expressed confidence that the country&#39;s economic challenges will be resolved with the formation of a stable government. He attributed these challenges largely to political instability.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In a meeting with representatives of the Nepal Bankers&#39; Association on Tuesday, Poudel emphasized the government&#39;s determination to address issues across all sectors.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;He urged bankers to convey a positive message to the market, highlighting the government&#39;s focus on overcoming the country&#39;s economic difficulties. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;Global factors and some internal reasons have contributed to the economic slowdown, but political instability is the main cause,&quot; Poudel stated. &quot;However, we now have a strong and stable government.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel acknowledged the public and private sector&#39;s frustrations, identifying them as a major challenge. He assured bankers that the government would provide support to all sectors and indicated a willingness to implement policy interventions if necessary for economic reform.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel also mentioned that the central bank would soon introduce a prudent monetary policy. While acknowledging the autonomy of the Nepal Rastra Bank, Poudel expressed confidence that it would address the legitimate demands of the banking sector.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Regarding the issue of overdue payments to construction entrepreneurs, Poudel promised to take a right decision soon after a thorough review. </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21282',
			'image' => '20240717055420_collage (69).jpg',
			'article_date' => '2024-07-17 05:52:40',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '42'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '21555',
			'article_category_id' => '1',
			'title' => 'Govt Fails to Meet Revenue Collection and Expenditures Targets   ',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The government's revenue collection and expenditure fell short of annual targets in the fiscal year 2023-24. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The government&#39;s revenue collection and expenditure fell short of annual targets in the fiscal year 2023-24, which ended on Monday. According to the Office of the Auditor General, revenue collection stood at 74.29% of the target, while budget expenditures amounted to 80.44%.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had allocated a total budget of Rs 1,751 billion for the fiscal year. By mid-July 2024, expenditures reached Rs 1,408 billion. Specifically, expenditures under the recurrent heading amounted to Rs 952 billion, which is 83.41% of the allocated budget of Rs 1,141 billion. Expenditures under the capital heading was Rs 191.7 billion, representing 63.47% of the allocated budget of Rs 302 billion. Expenditures under the financial management heading totaled Rs 264.6 billion, reaching 86.07% of the allocated budget of Rs 307.4 billion for the fiscal year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had set a revenue collection target of Rs 1,472 billion but collected Rs 1,093 billion, achieving 74.29% of the target.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had set a target of receiving foreign grants of Rs 49.94 billion but the actual realization stood at Rs 11.22 billion, achieving only 22.48% of the target.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Despite revising the budget twice, the government failed to meet its goals. The revised estimates of budget, presented by outgoing Finance Minister Barsha Man Pun on May 28, stood at Rs 1,530 billion, which is 87.4% of the initial budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Expenditure estimates were revised to 88.84% for the current heading, 84.13% for the capital heading, and 87.39% for the financial management heading compared to initial allocations.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Through the mid-term review of the budget, the government had allocated Rs 1,067 billion towards current expenditure, Rs 215 billion towards capital expenditure, and Rs 247 billion towards financial management. Similarly, the revenue collection target was reset at Rs 1.253 trillion.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21281',
			'image' => '20240716083744_20230511021044_1683767264.jpg',
			'article_date' => '2024-07-16 20:36:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '21554',
			'article_category_id' => '1',
			'title' => 'Over 400,000 Tourists Visited Mustang in FY 2023/24',
			'sub_title' => '',
			'summary' => 'MYAGDI: A total of 427,000 tourists visited Mustang district in one year, using the Beni-Jomsom road to explore different places in the fiscal year 2023/24.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">MYAGDI: A total of 427,000 tourists visited Mustang district in one year, using the Beni-Jomsom road to explore different places in the fiscal year 2023/24. This marks an increase of 47,504 tourists compared to the previous fiscal year, 2022/23.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Ghasa Police Post records the number of tourists and vehicles entering Mustang via the land route. According to Deputy Superintendent of Police at the District Police Office, Mustang, Bhoj Raj Pandey, 427,271 tourists in 74,374 vehicles entered Mustang in the last fiscal year. Of these, 318,814 were domestic tourists, 99,276 were from SAARC countries, and 9,171 were from other countries.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In the fiscal year 2022/23, a total of 379,767 tourists&mdash;303,800 domestic and 75,967 foreign tourists&mdash;visited Mustang in 62,340 vehicles.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Krishna Prasad Subedi, a priest at Muktinath Temple, attributed the increase in tourists to improved road and transport facilities, publicity, digital marketing, the construction of modern hotels, and the inclusion of the Annapurna Circuit Trek among the world&#39;s top 10 destinations by a renowned media outlet.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Mustang&#39;s attractions include mountains, lakes, monasteries, Muktinath Temple, caves, culture, and lifestyle. Key destinations in Mustang include Muktinath, Jomsom, Kagbeni, Lomanthang, Marpha, Thini, and Dhumba Lake.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">However, Rinjin Gurung, Chairperson of Baragung Muktichhetra Rural Municipality, noted a decrease in the number of tourists from non-SAARC countries. He suggested that blacktopping the Beni-Jomsom road might increase tourist arrivals.&nbsp; -- RSS</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21280',
			'image' => '20240716042546_20230724112952_20220424035529_istockphoto-534638391-612x612.jpg',
			'article_date' => '2024-07-16 16:25:13',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '21553',
			'article_category_id' => '1',
			'title' => 'NEPSE Index Crosses 2300 Mark; Closes at 2310.59',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index experienced a substantial increase of 70.18 points, or 3.13%, surpassing the 2300 mark and settling at 2310.59 on Tuesday, the third trading day of the week.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 16: The Nepal Stock Exchange (NEPSE) Index experienced a substantial increase of 70.18 points, or 3.13%, surpassing the 2300 mark and settling at 2310.59 on Tuesday, the third trading day of the week.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&#39;s trading session, 315 scrips were traded through 119,011 transactions on NEPSE. A total of 25,836,285 units of shares were exchanged, resulting in a total turnover of Rs 9.13 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ngadi Group Power Limited (NGPL) led the turnover with a total transaction amount of Rs 21 crores. Five companies, including Sindhu Bikash Bank Limited (SINDU), Barun Hydropower Company Limited (BARUN), and Green Development Bank Limited (GRDBL), each saw their stock prices hit the positive circuit of a 10% increase for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, the 10.5% Nepal Investment Debenture 2082 (NIBD2082), NIBL Growth Fund (NIBLGF), and the 11% L.B.B.L Debenture 2089 (LBBLD89) each lost 10% and hit the negative circuit for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sectoral performance, all sectors closed in the positive territory except for Mutual Funds. The Hydropower Index and Development Index spiked by 5.45% and 4.94%, respectively. Mutual Funds witnessed a minimal loss of 0.42%.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21279',
			'image' => '20240716035526_collage (3).jpg',
			'article_date' => '2024-07-16 15:54:28',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '42'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '21552',
			'article_category_id' => '1',
			'title' => 'NEPSE Index Increased by 6.83 Percent in One Year',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The NEPSE index increased by 6.83 percent in one year.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">KATHMANDU: The NEPSE index increased by 6.83 percent in one year. According to the Nepal Stock Exchange (NEPSE), the NEPSE index which was 2097.09 points on the last trading day of the fiscal year (2079/80) reached 2240.41 points on the last trading day of the last fiscal year 2080/81 which ended on July 15.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over the past year, among the 13 group indices traded on NEPSE, four groups experienced declines, while the indices of the remaining groups increased. Investors in the finance group earned the most, with the index of this group rising by 35.26 percent. The index, which was at 1,925.33 points on July 16, 2023, increased to 2604.16 points by July 15, 2024.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">In recent months, investors&rsquo; interest has particularly focused on shares of companies with a low number of shares, especially within the finance group. Investors attribute this trend to the limited supply of shares from companies with low capital, thus increasing the demand for and attractiveness of finance group shares.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Mutual fund group investors were the second highest earners over the year. The index for this group increased by 34.79 percent, rising from 15.15 points on July 16 of last year to 20.42 points on July 15 this year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The production and processing group was third in the list of top earners, with its index increasing by 19.34 percent over the year, moving from 5,637.51 points last year to 6727.70 points this year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The microfinance group saw its index rise by 18.99 percent, from 449.56 points last year to 4818.40 points this year, placing it fourth among the highest earners.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Conversely, the life insurance group experienced the most significant decline, with its index decreasing by 10.20 percent over the year. The index dropped from 11,991.15 points last year to 10,767.60 points this year, making investors in the life insurance group the biggest losers during this period.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21278',
			'image' => '20240716025651_20200303040000_Nepse Achieves Another Milestone with All-Time High Transactions.jpg',
			'article_date' => '2024-07-16 14:56:14',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	)
)
$current_user = null
$logged_in = false
simplexml_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

file not found!

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '21572',
			'article_category_id' => '1',
			'title' => 'Monsoon-Induced Disaster Affects 163 Highways',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours. According to statistics from the Department of Roads, 16 highways across the country are completely obstructed, while 147 are operating one-way.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Vehicular movement has been disrupted due to obstructions on six bridges along the national highways.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the Department of Hydrology and Meteorology said heavy rainfall occurred at one or two places in Koshi, Gandaki, and Sudurpaschim Provinces on Wednesday night.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that heavy rainfall is forecast to occur in various parts of the country until Friday, the Department has requested everyone to remain alert and vigilant.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-18',
			'modified' => '2024-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21298',
			'image' => '20240718052513_monsoon.jpg',
			'article_date' => '2024-07-18 05:24:23',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '21568',
			'article_category_id' => '1',
			'title' => 'Gold Price Breaks Another Record as it Soars to Rs 149,800 per Tola',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. On Tuesday, gold was sold at Rs 147,800 per tola.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of standard gold rose to Rs 149,100 per tola on Wednesday, up from Rs 147,100 per tola on Tuesday.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The recent geopolitical tension due to the Israel&rsquo;s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the price of silver increased by Rs 20 per tola on Wednesday to reach Rs 1,895 per tola. On Tuesday, silver was traded at Rs 1,875 per tola.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21294',
			'image' => '20240717103634_gold newwww.jpg',
			'article_date' => '2024-07-17 22:35:48',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '21565',
			'article_category_id' => '1',
			'title' => 'NEPSE Daily Turnover Hits Nearly Three-Year High',
			'sub_title' => 'The Nepal Stock Exchange recorded share transactions worth Rs 12.05 billion on Wednesday, the highest since August 21, 2021.',
			'summary' => '',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">NewBiz Report</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">KATHMANDU, July 17:&nbsp;</span></span></strong></span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The daily turnover at the Nepal Stock Exchange (NEPSE) reached nearly a three-year high on Wednesday, with share transactions worth Rs 12.05 billion. This marks the highest turnover since August 21, 2021, when transactions amounted to Rs 13.25 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The stock market began to rise following the news of a coalition agreement between the two largest parties, the Nepali Congress and the CPN (UML). The market has been bullish for the past two days since the formation of the KP Oli-led government, with the benchmark index surging by 124.22 points.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;</span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, the Nepse index surged by 54.04 points, closing at 2364.63 points, the highest since May 11, 2022, when it reached 2369.06 points. Investor confidence has rebounded, leading to increased trading volumes. Share volumes rose to 32.09 million on Wednesday, up from 23.89 million on Tuesday. All sub-indices at Nepse showed gains, with the hotel and finance sectors leading the way.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">Stock analysts attribute the recent stock market surge to various factors, including renewed investor confidence. Factors such as the formation of a new government, ample liquidity in the banking system, and continued low interest rates have bolstered investor trust in the stock market. The uptick in trading volumes indicates a resurgence in investor activity, with increased buying and selling of stocks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">During Wednesday&#39;s trading session, share prices of 204 companies saw gains, while six experienced losses. Singati Hydro Energy Limited (SHEL) led in turnover with Rs 235.5 million, and Himal Dolakha Hydropower Company Limited (HDHPC) had the highest trading volume.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, Central Finance Co. Ltd. (CFCL) hit the upper circuit limit after its share price surged by 10 percent. Additionally, shares of five companies&mdash;Singati Hydro Energy, Ankhu Khola Jalvidyut Company, Mandakini Hydropower Limited, CEDB Hydropower Company Limited, and Aarambha Chautari Lagubitta&mdash;rose by more than nine percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21291',
			'image' => '20240717061338_20220725080819_960x0.jpg',
			'article_date' => '2024-07-17 18:12:34',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '21563',
			'article_category_id' => '1',
			'title' => 'Prices of Daily Essentials Skyrocketing Due to Supply Chain Disruption',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In mid-June, Nepal Rastra Bank had announced that overall inflation was the lowest in 32 months, but the prices of daily consumer goods have skyrocketed with the onset of monsoon. Especially the price of eggs has skyrocketed. In the market, the price of large eggs per crate has reached Rs 750 and medium-sized eggs are sold at Rs 660. The price of small eggs has also reached Rs 570 per crate. There are 30 eggs in a crate. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Nepal Layers Poultry Farmers Association recently set the price of eggs at the production site at Rs 530 per crate for large eggs, Rs 510 for medium eggs, and Rs 490 for small eggs. Businessmen shared that the price of eggs has increased after the H9 virus infection increased and chickens started dying all over the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Pravin KC, president of Nepal Egg Producers Association, about 1.5 million layer chickens died in the country due to the disease during summer. He said that with the death of chickens, egg production has decreased by 50 percent and its effect is currently visible in the price. According to KC, around 2.4 to 2.5 million eggs are produced daily in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It is said that despite the increase in consumer prices, farmers are still unable to get a fair price. Small farmers are no longer able to raise chickens after the &#39;H9&#39; virus infection started killing chicken. Stakeholders alleged that some large and limited farmers are taking over the egg market and raising the price arbitrarily.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the &#39;H9&#39; virus does not show a high mortality rate like the well-known bird flu disease, sometimes entire chickens on the farm die due to the infection of other diseases along with this virus. The Department of Livestock Services has informed that the government will not provide relief and compensation for this infection unlike in the case of bird flu. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the department, it is the government&#39;s policy to get relief only if chickens die due to infection with the H-5 bird flu virus. The meeting of Nepal Layers Poultry Farmers Association held on July 12 has increased the price of eggs from the same date.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, due to the continuous rains, the condition of the roads has deteriorated following floods and landslides in various places and the vegetables grown in the farmers&#39; fields have also been damaged by the rains. The Kalimati Fruit and Vegetable Market Development Committee has said that the prices of vegetables have increased by 200 percent in the Kalimati wholesale market in the last two weeks. The price of green pumpkin was Rs 25 per kg on July 1, but it has now reached Rs 75. Similarly, the price of bitter gourd rose from Rs 36 per kg to Rs 95. The general public has to pay more in the retail market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Geeta Prasad Acharya, president of Kalimati Fruit and Vegetable Market Traders&#39; Committee, said that the price of seasonal and green vegetables has increased due to the problem of vehicular movement due to continuous rains. Vegetables brought from the districts near the Kathmandu Valley have arrived, but there is a problem in bringing vegetables from the Terai districts and India due to the floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank recently released a report that showed the overall inflation was 4.17 percent in mid-June. This inflation rate is the lowest in 32 months. According to the Central Bank, although the price of the non-food group has decreased significantly, the price of the food and beverage group is high. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report published by the central bank mentions that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21289',
			'image' => '20240717014227_inflationnnnnn.jpg',
			'article_date' => '2024-07-17 13:41:43',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '21562',
			'article_category_id' => '218',
			'title' => 'Credit Expansion of Banks Remain Dismal despite Drop in Interest Rates on Loans',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system. The increase in liquidity has led banks to reduce interest rates on deposits, lowering costs and making interest on loans cheaper.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to information published by the banks, the quarterly average base rate of commercial banks was 8.35 percent from mid-May to mid-June of the current fiscal year. At the beginning of the previous year, the average quarterly base rate was 10.14 percent, but it decreased by 1.79 percentage points towards the end of the fiscal year. As banks reduced interest on deposits from mid-May to mid-July, it appears that the quarterly base rate to be implemented from mid-July will be even lower.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">With the decrease in the base rate, interest on loans have also become cheaper. According to the base rate determination procedure, banks and financial institutions determine the base rate by adding a 0.75 percent return to their cost. Banks then determine interest in loans by adding a premium to the base rate, with the current maximum premium being 4 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The base rate for the last three months is used when investing in a new loan, and the premium specified in the loan agreement cannot be changed. Thus, when the average base rate decreases each quarter, interest on loans automatically decrease and vice versa.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">From mid-May to mid-June, Standard Chartered Bank had the lowest quarterly base rate among commercial banks at 6.26 percent, while Kumari Bank had the highest at 9.48 percent. Sixteen banks have base rates below 9 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;In the current year, after banks reduced interest on deposits, interest rates on loans also decreased,&quot; said former banker Parshuram Kunwar Chhetri. &quot;However, interest rates on loans are still high.&quot; He explained that due to the lack of liquidity in previous years, banks raised long-term deposits at high interest rates, which kept loan interest rates from decreasing as expected. &quot;The cost of banks is high because they raised deposits at high prices in the past. It seems that interest on loans will remain high until new, cheaper deposits are introduced.&quot;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Due to the lack of liquidity, interest rates increased in previous years, but they have started to decrease since the recently ended fiscal year. As liquidity began to ease, the Nepal Bankers Association decided to end the gentlemen&rsquo;s agreement at the beginning of the last fiscal year (mid-July 2023) and set interest rates at will. After that, the interest rates on deposits increased slightly until October but have been continuously decreasing since then.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In last July, the average interest rate on deposit of commercial banks was 9.83 percent, but it reached 10.26 percent in October. Since then, the average interest rate has continuously decreased to 6.72 percent as of July this year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Although the interest rates on loans have dropped, the credit flow from banks has not increased. By May, deposits in banks and financial institutions increased by 9 percent, while credit flow to the private sector increased by only 5.1 percent. The NRB&#39;s monetary policy for the year 2080/81 targets 11.5 percent credit expansion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Due to the increase in deposits, there is more than Rs 700 billion of investable capital in banks and financial institutions due to a lack of credit flow. By Sunday, banks and financial institutions had collected a total of Rs 6482 billion in deposits and disbursed loans of 5160 billion. On Sunday, the average credit-deposit ratio (CD ratio) of banks fell to 77.61 percent. Banks can grant loans by maintaining a CD ratio of up to 90 percent.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21288',
			'image' => '20240717011652_20240624011617_bankkkkkkk.jpg',
			'article_date' => '2024-07-17 13:16:21',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '21561',
			'article_category_id' => '1',
			'title' => 'IPPAN Urges Newly-Appointed Energy Minister to Withdraw Electricity Bill',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.<br />
Speaking at a program organized on the occasion of the 31st anniversary of the Department of Electricity Development, Dangi urged the newly appointed Energy Minister Deepak Khadka to withdraw the Electricity Bill 2080 and said that the bill should be amended. According to Dangi, the Electricity Act 2049 will be broadly accepted if it is amended to ensure the participation of the private sector in the electricity trade.<br />
Dangi also mentioned that 31 hydropower projects damaged by last year&#39;s floods were unable to import goods under customs exemption due to the removal of the customs facility on spare parts given by the Electricity Act 2049. He urged the newly appointed energy minister to address this issue.<br />
Additionally, Dangi noted that the private sector has faced uncontrollable situations such as floods and landslides, and requested for an extension of the Required Commercial Operation Date (RCOD) for all hydropower projects. He emphasized that Minister Khadka should pay attention to this matter as well.<br />
Dangi further stated that the representation of the private sector, which accounts for 70 percent of the 3300 MW installed capacity of electricity, should be made mandatory in the various committees formed by the Ministry of Energy. This would create an environment where the private sector&#39;s concerns are heard, said Dangi. He also highlighted the need for all agencies related to the energy sector to work for the benefit of the 6 million investors who have invested in hydropower through the stock market.<br />
Similarly, while addressing the program, the newly appointed Energy Minister, Deepak Khadka, said that he would make sincere efforts on behalf of the Ministry of Energy to address the demands of the private sector.<br />
Recalling that more than 25 people died in his constituency and that many electricity projects were directly affected by the flood, Khadka said that not only hydropower promoters and farmers, but also other common people and businessmen were indirectly affected by natural disasters.<br />
&quot;The energy sector is the basis of Nepal&#39;s prosperity. Right now, this sector is contributing Rs 4 billion to Rs 5 billion in revenue annually,&quot; Khadka said. &quot;In the coming days, we need to think about how much we can increase its contribution.&quot;<br />
Khadka also mentioned that it is not possible to meet this demand without the help and support of the private sector as the government plans to export 10,000 megawatts of electricity to India in the near future, while domestic consumption is also expected to rise.<br />
Khadka emphasized that the government and the private sector should work together to build the country.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21287',
			'image' => '20240717114645_IPPAN-Independent-Power-Producers-Association-Nepal.jpg',
			'article_date' => '2024-07-17 11:45:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '21560',
			'article_category_id' => '1',
			'title' => 'Nepali Embassies in Beijing and Muscat Promote Investment Opportunities',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">During the event organized by the embassy in Beijing on Sunday, Nepalese Ambassador to China Bishnu Pukar Shrestha urged Chinese investors, businessmen, and media representatives to consider mobilizing capital confidently. He emphasized that Nepal offers ample investment opportunities with attractive returns.<br />
Wang Kevin, deputy secretary general of the China Overseas Development Organization, stated that China is the largest investor in Nepal, noting that hundreds of Nepalis have found employment opportunities as a result. Having recently participated in an investment summit in Nepal, he emphasized the numerous opportunities for cooperation and partnership between the two nations. According to the Nepali embassy in Beijing, he highlighted Nepal&#39;s water resources sector as the most attractive investment destination.<br />
Meanwhile, in a program held in Muscat on the same day, Nepali Ambassador to Oman Dornath Aryal urged investors in Oman to consider investing in tourism, infrastructure, and energy projects with promising returns, emphasizing the need to balance trade with Oman. Ambassador Aryal also encouraged Nepali expatriates to leverage their skills and capital for the development of their homeland.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21286',
			'image' => '20240717111706_AB620068@5451D21D.BA88946600000000_recompress.jpg',
			'article_date' => '2024-07-17 11:16:15',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '21559',
			'article_category_id' => '1',
			'title' => 'Bankers Discuss Challenges of the Banking Sector with New Finance Minister',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. During the meeting, Sunil KC, president of the association, highlighted the banking sector&#39;s contribution to the country&#39;s economic growth and discussed the recent challenges faced by the sector.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KC emphasized the need for the government to work towards making the economy sustainable, especially given the current market instability caused by the contraction in credit expansion and declining interest rates of banks and financial institutions. He also addressed the recent negative public perception of the financial sector, targeted attacks on banks and financial institutions, declining bank returns, and the increase in bad loans. He assured that the banking sector is committed to supporting the government in achieving financial stability and economic development.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Prime Minister and Finance Minister Paudel commended the contributions made by banks and financial institutions. He stressed that all stakeholders must collaborate to address the economic challenges and work towards sustainability. Paudel highlighted the importance of boosting economic activities by increasing the confidence of the general public, entrepreneurs, and businessmen, identifying this as a primary challenge for the current economy.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21285',
			'image' => '20240717104126_bb31ab81.jpeg',
			'article_date' => '2024-07-17 10:40:50',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '21558',
			'article_category_id' => '1',
			'title' => 'Formation of New Government Raises Hope for Economic Boom: FNCCI President',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;This development has inspired the business community,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Describing political and policy instability as major obstacles to building an investment-friendly environment in the nation, Dhakal said the new government is expected to address these issues, thereby boosting economic activities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;We have been dealing with an economic slowdown since the COVID-19 pandemic, and political instability has exacerbated the situation,&quot; Dhakal told RSS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He expressed hope that the new government, led by CPN (UML) Chair KP Sharma Oli and supported by the largest party in parliament, the Nepali Congress, would pave the way for economic revival. -- RSS</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21284',
			'image' => '20240717100021_chandra-sir-cover.jpeg',
			'article_date' => '2024-07-17 09:59:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '21557',
			'article_category_id' => '1',
			'title' => 'Earthquake Jolts Mugu this Morning',
			'sub_title' => '',
			'summary' => 'KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today, according to the National Earthquake Monitoring and Research Centre, Lainchaur. The earthquake measured 3.9 on the Richter scale.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Prior to this, an earthquake was recorded at Tapethok in Taplejung, an eastern hill district of Nepal, on July 10. Recently, Nepal has experienced several minor earthquakes.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal is considered a country vulnerable to earthquakes. -- RSS</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21283',
			'image' => '20240717094042_20230324121121_earth.jpg',
			'article_date' => '2024-07-17 09:39:19',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '21556',
			'article_category_id' => '1',
			'title' => 'Finance Minister Assures Support to Private Sector',
			'sub_title' => '',
			'summary' => 'Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel expressed confidence that the country's economic challenges will be resolved with the formation of a stable government. He attributed these challenges largely to political instability.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">July 17: Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel expressed confidence that the country&#39;s economic challenges will be resolved with the formation of a stable government. He attributed these challenges largely to political instability.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In a meeting with representatives of the Nepal Bankers&#39; Association on Tuesday, Poudel emphasized the government&#39;s determination to address issues across all sectors.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;He urged bankers to convey a positive message to the market, highlighting the government&#39;s focus on overcoming the country&#39;s economic difficulties. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;Global factors and some internal reasons have contributed to the economic slowdown, but political instability is the main cause,&quot; Poudel stated. &quot;However, we now have a strong and stable government.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel acknowledged the public and private sector&#39;s frustrations, identifying them as a major challenge. He assured bankers that the government would provide support to all sectors and indicated a willingness to implement policy interventions if necessary for economic reform.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel also mentioned that the central bank would soon introduce a prudent monetary policy. While acknowledging the autonomy of the Nepal Rastra Bank, Poudel expressed confidence that it would address the legitimate demands of the banking sector.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Regarding the issue of overdue payments to construction entrepreneurs, Poudel promised to take a right decision soon after a thorough review. </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21282',
			'image' => '20240717055420_collage (69).jpg',
			'article_date' => '2024-07-17 05:52:40',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '42'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '21555',
			'article_category_id' => '1',
			'title' => 'Govt Fails to Meet Revenue Collection and Expenditures Targets   ',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The government's revenue collection and expenditure fell short of annual targets in the fiscal year 2023-24. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The government&#39;s revenue collection and expenditure fell short of annual targets in the fiscal year 2023-24, which ended on Monday. According to the Office of the Auditor General, revenue collection stood at 74.29% of the target, while budget expenditures amounted to 80.44%.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had allocated a total budget of Rs 1,751 billion for the fiscal year. By mid-July 2024, expenditures reached Rs 1,408 billion. Specifically, expenditures under the recurrent heading amounted to Rs 952 billion, which is 83.41% of the allocated budget of Rs 1,141 billion. Expenditures under the capital heading was Rs 191.7 billion, representing 63.47% of the allocated budget of Rs 302 billion. Expenditures under the financial management heading totaled Rs 264.6 billion, reaching 86.07% of the allocated budget of Rs 307.4 billion for the fiscal year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had set a revenue collection target of Rs 1,472 billion but collected Rs 1,093 billion, achieving 74.29% of the target.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had set a target of receiving foreign grants of Rs 49.94 billion but the actual realization stood at Rs 11.22 billion, achieving only 22.48% of the target.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Despite revising the budget twice, the government failed to meet its goals. The revised estimates of budget, presented by outgoing Finance Minister Barsha Man Pun on May 28, stood at Rs 1,530 billion, which is 87.4% of the initial budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Expenditure estimates were revised to 88.84% for the current heading, 84.13% for the capital heading, and 87.39% for the financial management heading compared to initial allocations.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Through the mid-term review of the budget, the government had allocated Rs 1,067 billion towards current expenditure, Rs 215 billion towards capital expenditure, and Rs 247 billion towards financial management. Similarly, the revenue collection target was reset at Rs 1.253 trillion.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21281',
			'image' => '20240716083744_20230511021044_1683767264.jpg',
			'article_date' => '2024-07-16 20:36:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '21554',
			'article_category_id' => '1',
			'title' => 'Over 400,000 Tourists Visited Mustang in FY 2023/24',
			'sub_title' => '',
			'summary' => 'MYAGDI: A total of 427,000 tourists visited Mustang district in one year, using the Beni-Jomsom road to explore different places in the fiscal year 2023/24.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">MYAGDI: A total of 427,000 tourists visited Mustang district in one year, using the Beni-Jomsom road to explore different places in the fiscal year 2023/24. This marks an increase of 47,504 tourists compared to the previous fiscal year, 2022/23.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Ghasa Police Post records the number of tourists and vehicles entering Mustang via the land route. According to Deputy Superintendent of Police at the District Police Office, Mustang, Bhoj Raj Pandey, 427,271 tourists in 74,374 vehicles entered Mustang in the last fiscal year. Of these, 318,814 were domestic tourists, 99,276 were from SAARC countries, and 9,171 were from other countries.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In the fiscal year 2022/23, a total of 379,767 tourists&mdash;303,800 domestic and 75,967 foreign tourists&mdash;visited Mustang in 62,340 vehicles.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Krishna Prasad Subedi, a priest at Muktinath Temple, attributed the increase in tourists to improved road and transport facilities, publicity, digital marketing, the construction of modern hotels, and the inclusion of the Annapurna Circuit Trek among the world&#39;s top 10 destinations by a renowned media outlet.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Mustang&#39;s attractions include mountains, lakes, monasteries, Muktinath Temple, caves, culture, and lifestyle. Key destinations in Mustang include Muktinath, Jomsom, Kagbeni, Lomanthang, Marpha, Thini, and Dhumba Lake.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">However, Rinjin Gurung, Chairperson of Baragung Muktichhetra Rural Municipality, noted a decrease in the number of tourists from non-SAARC countries. He suggested that blacktopping the Beni-Jomsom road might increase tourist arrivals.&nbsp; -- RSS</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21280',
			'image' => '20240716042546_20230724112952_20220424035529_istockphoto-534638391-612x612.jpg',
			'article_date' => '2024-07-16 16:25:13',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '21553',
			'article_category_id' => '1',
			'title' => 'NEPSE Index Crosses 2300 Mark; Closes at 2310.59',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index experienced a substantial increase of 70.18 points, or 3.13%, surpassing the 2300 mark and settling at 2310.59 on Tuesday, the third trading day of the week.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 16: The Nepal Stock Exchange (NEPSE) Index experienced a substantial increase of 70.18 points, or 3.13%, surpassing the 2300 mark and settling at 2310.59 on Tuesday, the third trading day of the week.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&#39;s trading session, 315 scrips were traded through 119,011 transactions on NEPSE. A total of 25,836,285 units of shares were exchanged, resulting in a total turnover of Rs 9.13 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ngadi Group Power Limited (NGPL) led the turnover with a total transaction amount of Rs 21 crores. Five companies, including Sindhu Bikash Bank Limited (SINDU), Barun Hydropower Company Limited (BARUN), and Green Development Bank Limited (GRDBL), each saw their stock prices hit the positive circuit of a 10% increase for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, the 10.5% Nepal Investment Debenture 2082 (NIBD2082), NIBL Growth Fund (NIBLGF), and the 11% L.B.B.L Debenture 2089 (LBBLD89) each lost 10% and hit the negative circuit for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sectoral performance, all sectors closed in the positive territory except for Mutual Funds. The Hydropower Index and Development Index spiked by 5.45% and 4.94%, respectively. Mutual Funds witnessed a minimal loss of 0.42%.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21279',
			'image' => '20240716035526_collage (3).jpg',
			'article_date' => '2024-07-16 15:54:28',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '42'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '21552',
			'article_category_id' => '1',
			'title' => 'NEPSE Index Increased by 6.83 Percent in One Year',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The NEPSE index increased by 6.83 percent in one year.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">KATHMANDU: The NEPSE index increased by 6.83 percent in one year. According to the Nepal Stock Exchange (NEPSE), the NEPSE index which was 2097.09 points on the last trading day of the fiscal year (2079/80) reached 2240.41 points on the last trading day of the last fiscal year 2080/81 which ended on July 15.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over the past year, among the 13 group indices traded on NEPSE, four groups experienced declines, while the indices of the remaining groups increased. Investors in the finance group earned the most, with the index of this group rising by 35.26 percent. The index, which was at 1,925.33 points on July 16, 2023, increased to 2604.16 points by July 15, 2024.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">In recent months, investors&rsquo; interest has particularly focused on shares of companies with a low number of shares, especially within the finance group. Investors attribute this trend to the limited supply of shares from companies with low capital, thus increasing the demand for and attractiveness of finance group shares.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Mutual fund group investors were the second highest earners over the year. The index for this group increased by 34.79 percent, rising from 15.15 points on July 16 of last year to 20.42 points on July 15 this year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The production and processing group was third in the list of top earners, with its index increasing by 19.34 percent over the year, moving from 5,637.51 points last year to 6727.70 points this year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The microfinance group saw its index rise by 18.99 percent, from 449.56 points last year to 4818.40 points this year, placing it fourth among the highest earners.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Conversely, the life insurance group experienced the most significant decline, with its index decreasing by 10.20 percent over the year. The index dropped from 11,991.15 points last year to 10,767.60 points this year, making investors in the life insurance group the biggest losers during this period.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21278',
			'image' => '20240716025651_20200303040000_Nepse Achieves Another Milestone with All-Time High Transactions.jpg',
			'article_date' => '2024-07-16 14:56:14',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
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

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 &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]Code Context  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '21572',
			'article_category_id' => '1',
			'title' => 'Monsoon-Induced Disaster Affects 163 Highways',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Monsoon-induced disasters, including landslides and floods, have affected 163 highways in the past 36 hours. According to statistics from the Department of Roads, 16 highways across the country are completely obstructed, while 147 are operating one-way.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Vehicular movement has been disrupted due to obstructions on six bridges along the national highways.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the Department of Hydrology and Meteorology said heavy rainfall occurred at one or two places in Koshi, Gandaki, and Sudurpaschim Provinces on Wednesday night.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Stating that heavy rainfall is forecast to occur in various parts of the country until Friday, the Department has requested everyone to remain alert and vigilant.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-18',
			'modified' => '2024-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21298',
			'image' => '20240718052513_monsoon.jpg',
			'article_date' => '2024-07-18 05:24:23',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '21568',
			'article_category_id' => '1',
			'title' => 'Gold Price Breaks Another Record as it Soars to Rs 149,800 per Tola',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: The price of gold reached a record high of Rs 149,800 per tola (11.66 grams) on Wednesday, marking an increase of Rs 2,000 per tola compared to the previous trading day. On Tuesday, gold was sold at Rs 147,800 per tola.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to the Federation of Nepal Gold and Silver Dealers Association, the price of standard gold rose to Rs 149,100 per tola on Wednesday, up from Rs 147,100 per tola on Tuesday.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The price of gold has been rising steadily in the past few months. The federation fixes the price of gold and silver based on the price in the international market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The recent geopolitical tension due to the Israel&rsquo;s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Meanwhile, the price of silver increased by Rs 20 per tola on Wednesday to reach Rs 1,895 per tola. On Tuesday, silver was traded at Rs 1,875 per tola.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21294',
			'image' => '20240717103634_gold newwww.jpg',
			'article_date' => '2024-07-17 22:35:48',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '21565',
			'article_category_id' => '1',
			'title' => 'NEPSE Daily Turnover Hits Nearly Three-Year High',
			'sub_title' => 'The Nepal Stock Exchange recorded share transactions worth Rs 12.05 billion on Wednesday, the highest since August 21, 2021.',
			'summary' => '',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">NewBiz Report</span></span></strong></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">KATHMANDU, July 17:&nbsp;</span></span></strong></span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The daily turnover at the Nepal Stock Exchange (NEPSE) reached nearly a three-year high on Wednesday, with share transactions worth Rs 12.05 billion. This marks the highest turnover since August 21, 2021, when transactions amounted to Rs 13.25 billion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">The stock market began to rise following the news of a coalition agreement between the two largest parties, the Nepali Congress and the CPN (UML). The market has been bullish for the past two days since the formation of the KP Oli-led government, with the benchmark index surging by 124.22 points.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;</span></span><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, the Nepse index surged by 54.04 points, closing at 2364.63 points, the highest since May 11, 2022, when it reached 2369.06 points. Investor confidence has rebounded, leading to increased trading volumes. Share volumes rose to 32.09 million on Wednesday, up from 23.89 million on Tuesday. All sub-indices at Nepse showed gains, with the hotel and finance sectors leading the way.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">Stock analysts attribute the recent stock market surge to various factors, including renewed investor confidence. Factors such as the formation of a new government, ample liquidity in the banking system, and continued low interest rates have bolstered investor trust in the stock market. The uptick in trading volumes indicates a resurgence in investor activity, with increased buying and selling of stocks.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">During Wednesday&#39;s trading session, share prices of 204 companies saw gains, while six experienced losses. Singati Hydro Energy Limited (SHEL) led in turnover with Rs 235.5 million, and Himal Dolakha Hydropower Company Limited (HDHPC) had the highest trading volume.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Cambria&quot;,&quot;serif&quot;">On Wednesday, Central Finance Co. Ltd. (CFCL) hit the upper circuit limit after its share price surged by 10 percent. Additionally, shares of five companies&mdash;Singati Hydro Energy, Ankhu Khola Jalvidyut Company, Mandakini Hydropower Limited, CEDB Hydropower Company Limited, and Aarambha Chautari Lagubitta&mdash;rose by more than nine percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21291',
			'image' => '20240717061338_20220725080819_960x0.jpg',
			'article_date' => '2024-07-17 18:12:34',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '21563',
			'article_category_id' => '1',
			'title' => 'Prices of Daily Essentials Skyrocketing Due to Supply Chain Disruption',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The prices of daily essentials such as food, vegetables, and eggs has surged, largely due to supply chain disruptions caused by floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In mid-June, Nepal Rastra Bank had announced that overall inflation was the lowest in 32 months, but the prices of daily consumer goods have skyrocketed with the onset of monsoon. Especially the price of eggs has skyrocketed. In the market, the price of large eggs per crate has reached Rs 750 and medium-sized eggs are sold at Rs 660. The price of small eggs has also reached Rs 570 per crate. There are 30 eggs in a crate. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Nepal Layers Poultry Farmers Association recently set the price of eggs at the production site at Rs 530 per crate for large eggs, Rs 510 for medium eggs, and Rs 490 for small eggs. Businessmen shared that the price of eggs has increased after the H9 virus infection increased and chickens started dying all over the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Pravin KC, president of Nepal Egg Producers Association, about 1.5 million layer chickens died in the country due to the disease during summer. He said that with the death of chickens, egg production has decreased by 50 percent and its effect is currently visible in the price. According to KC, around 2.4 to 2.5 million eggs are produced daily in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">It is said that despite the increase in consumer prices, farmers are still unable to get a fair price. Small farmers are no longer able to raise chickens after the &#39;H9&#39; virus infection started killing chicken. Stakeholders alleged that some large and limited farmers are taking over the egg market and raising the price arbitrarily.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the &#39;H9&#39; virus does not show a high mortality rate like the well-known bird flu disease, sometimes entire chickens on the farm die due to the infection of other diseases along with this virus. The Department of Livestock Services has informed that the government will not provide relief and compensation for this infection unlike in the case of bird flu. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the department, it is the government&#39;s policy to get relief only if chickens die due to infection with the H-5 bird flu virus. The meeting of Nepal Layers Poultry Farmers Association held on July 12 has increased the price of eggs from the same date.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, due to the continuous rains, the condition of the roads has deteriorated following floods and landslides in various places and the vegetables grown in the farmers&#39; fields have also been damaged by the rains. The Kalimati Fruit and Vegetable Market Development Committee has said that the prices of vegetables have increased by 200 percent in the Kalimati wholesale market in the last two weeks. The price of green pumpkin was Rs 25 per kg on July 1, but it has now reached Rs 75. Similarly, the price of bitter gourd rose from Rs 36 per kg to Rs 95. The general public has to pay more in the retail market.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Geeta Prasad Acharya, president of Kalimati Fruit and Vegetable Market Traders&#39; Committee, said that the price of seasonal and green vegetables has increased due to the problem of vehicular movement due to continuous rains. Vegetables brought from the districts near the Kathmandu Valley have arrived, but there is a problem in bringing vegetables from the Terai districts and India due to the floods.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank recently released a report that showed the overall inflation was 4.17 percent in mid-June. This inflation rate is the lowest in 32 months. According to the Central Bank, although the price of the non-food group has decreased significantly, the price of the food and beverage group is high. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The report published by the central bank mentions that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21289',
			'image' => '20240717014227_inflationnnnnn.jpg',
			'article_date' => '2024-07-17 13:41:43',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '21562',
			'article_category_id' => '218',
			'title' => 'Credit Expansion of Banks Remain Dismal despite Drop in Interest Rates on Loans',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Interest rates on both deposits and loans of banks and financial institutions have declined due to excess liquidity in the banking system. The increase in liquidity has led banks to reduce interest rates on deposits, lowering costs and making interest on loans cheaper.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">According to information published by the banks, the quarterly average base rate of commercial banks was 8.35 percent from mid-May to mid-June of the current fiscal year. At the beginning of the previous year, the average quarterly base rate was 10.14 percent, but it decreased by 1.79 percentage points towards the end of the fiscal year. As banks reduced interest on deposits from mid-May to mid-July, it appears that the quarterly base rate to be implemented from mid-July will be even lower.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">With the decrease in the base rate, interest on loans have also become cheaper. According to the base rate determination procedure, banks and financial institutions determine the base rate by adding a 0.75 percent return to their cost. Banks then determine interest in loans by adding a premium to the base rate, with the current maximum premium being 4 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The base rate for the last three months is used when investing in a new loan, and the premium specified in the loan agreement cannot be changed. Thus, when the average base rate decreases each quarter, interest on loans automatically decrease and vice versa.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">From mid-May to mid-June, Standard Chartered Bank had the lowest quarterly base rate among commercial banks at 6.26 percent, while Kumari Bank had the highest at 9.48 percent. Sixteen banks have base rates below 9 percent.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;In the current year, after banks reduced interest on deposits, interest rates on loans also decreased,&quot; said former banker Parshuram Kunwar Chhetri. &quot;However, interest rates on loans are still high.&quot; He explained that due to the lack of liquidity in previous years, banks raised long-term deposits at high interest rates, which kept loan interest rates from decreasing as expected. &quot;The cost of banks is high because they raised deposits at high prices in the past. It seems that interest on loans will remain high until new, cheaper deposits are introduced.&quot;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Due to the lack of liquidity, interest rates increased in previous years, but they have started to decrease since the recently ended fiscal year. As liquidity began to ease, the Nepal Bankers Association decided to end the gentlemen&rsquo;s agreement at the beginning of the last fiscal year (mid-July 2023) and set interest rates at will. After that, the interest rates on deposits increased slightly until October but have been continuously decreasing since then.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In last July, the average interest rate on deposit of commercial banks was 9.83 percent, but it reached 10.26 percent in October. Since then, the average interest rate has continuously decreased to 6.72 percent as of July this year.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Although the interest rates on loans have dropped, the credit flow from banks has not increased. By May, deposits in banks and financial institutions increased by 9 percent, while credit flow to the private sector increased by only 5.1 percent. The NRB&#39;s monetary policy for the year 2080/81 targets 11.5 percent credit expansion.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Due to the increase in deposits, there is more than Rs 700 billion of investable capital in banks and financial institutions due to a lack of credit flow. By Sunday, banks and financial institutions had collected a total of Rs 6482 billion in deposits and disbursed loans of 5160 billion. On Sunday, the average credit-deposit ratio (CD ratio) of banks fell to 77.61 percent. Banks can grant loans by maintaining a CD ratio of up to 90 percent.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21288',
			'image' => '20240717011652_20240624011617_bankkkkkkk.jpg',
			'article_date' => '2024-07-17 13:16:21',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '21561',
			'article_category_id' => '1',
			'title' => 'IPPAN Urges Newly-Appointed Energy Minister to Withdraw Electricity Bill',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Mohan Kumar Dangi, senior vice-president of the Independent Power Producers Association of Nepal (IPPAN), has stated that the electricity bill registered in parliament should be withdrawn.<br />
Speaking at a program organized on the occasion of the 31st anniversary of the Department of Electricity Development, Dangi urged the newly appointed Energy Minister Deepak Khadka to withdraw the Electricity Bill 2080 and said that the bill should be amended. According to Dangi, the Electricity Act 2049 will be broadly accepted if it is amended to ensure the participation of the private sector in the electricity trade.<br />
Dangi also mentioned that 31 hydropower projects damaged by last year&#39;s floods were unable to import goods under customs exemption due to the removal of the customs facility on spare parts given by the Electricity Act 2049. He urged the newly appointed energy minister to address this issue.<br />
Additionally, Dangi noted that the private sector has faced uncontrollable situations such as floods and landslides, and requested for an extension of the Required Commercial Operation Date (RCOD) for all hydropower projects. He emphasized that Minister Khadka should pay attention to this matter as well.<br />
Dangi further stated that the representation of the private sector, which accounts for 70 percent of the 3300 MW installed capacity of electricity, should be made mandatory in the various committees formed by the Ministry of Energy. This would create an environment where the private sector&#39;s concerns are heard, said Dangi. He also highlighted the need for all agencies related to the energy sector to work for the benefit of the 6 million investors who have invested in hydropower through the stock market.<br />
Similarly, while addressing the program, the newly appointed Energy Minister, Deepak Khadka, said that he would make sincere efforts on behalf of the Ministry of Energy to address the demands of the private sector.<br />
Recalling that more than 25 people died in his constituency and that many electricity projects were directly affected by the flood, Khadka said that not only hydropower promoters and farmers, but also other common people and businessmen were indirectly affected by natural disasters.<br />
&quot;The energy sector is the basis of Nepal&#39;s prosperity. Right now, this sector is contributing Rs 4 billion to Rs 5 billion in revenue annually,&quot; Khadka said. &quot;In the coming days, we need to think about how much we can increase its contribution.&quot;<br />
Khadka also mentioned that it is not possible to meet this demand without the help and support of the private sector as the government plans to export 10,000 megawatts of electricity to India in the near future, while domestic consumption is also expected to rise.<br />
Khadka emphasized that the government and the private sector should work together to build the country.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21287',
			'image' => '20240717114645_IPPAN-Independent-Power-Producers-Association-Nepal.jpg',
			'article_date' => '2024-07-17 11:45:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '21560',
			'article_category_id' => '1',
			'title' => 'Nepali Embassies in Beijing and Muscat Promote Investment Opportunities',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Nepal’s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">KATHMANDU: Nepal&rsquo;s embassies in Beijing and Muscat recently hosted investment promotion programmes aimed at highlighting investment opportunities in Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">During the event organized by the embassy in Beijing on Sunday, Nepalese Ambassador to China Bishnu Pukar Shrestha urged Chinese investors, businessmen, and media representatives to consider mobilizing capital confidently. He emphasized that Nepal offers ample investment opportunities with attractive returns.<br />
Wang Kevin, deputy secretary general of the China Overseas Development Organization, stated that China is the largest investor in Nepal, noting that hundreds of Nepalis have found employment opportunities as a result. Having recently participated in an investment summit in Nepal, he emphasized the numerous opportunities for cooperation and partnership between the two nations. According to the Nepali embassy in Beijing, he highlighted Nepal&#39;s water resources sector as the most attractive investment destination.<br />
Meanwhile, in a program held in Muscat on the same day, Nepali Ambassador to Oman Dornath Aryal urged investors in Oman to consider investing in tourism, infrastructure, and energy projects with promising returns, emphasizing the need to balance trade with Oman. Ambassador Aryal also encouraged Nepali expatriates to leverage their skills and capital for the development of their homeland.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21286',
			'image' => '20240717111706_AB620068@5451D21D.BA88946600000000_recompress.jpg',
			'article_date' => '2024-07-17 11:16:15',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '21559',
			'article_category_id' => '1',
			'title' => 'Bankers Discuss Challenges of the Banking Sector with New Finance Minister',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. During the meeting, Sunil KC, president of the association, highlighted the banking sector&#39;s contribution to the country&#39;s economic growth and discussed the recent challenges faced by the sector.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KC emphasized the need for the government to work towards making the economy sustainable, especially given the current market instability caused by the contraction in credit expansion and declining interest rates of banks and financial institutions. He also addressed the recent negative public perception of the financial sector, targeted attacks on banks and financial institutions, declining bank returns, and the increase in bad loans. He assured that the banking sector is committed to supporting the government in achieving financial stability and economic development.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Deputy Prime Minister and Finance Minister Paudel commended the contributions made by banks and financial institutions. He stressed that all stakeholders must collaborate to address the economic challenges and work towards sustainability. Paudel highlighted the importance of boosting economic activities by increasing the confidence of the general public, entrepreneurs, and businessmen, identifying this as a primary challenge for the current economy.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21285',
			'image' => '20240717104126_bb31ab81.jpeg',
			'article_date' => '2024-07-17 10:40:50',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '21558',
			'article_category_id' => '1',
			'title' => 'Formation of New Government Raises Hope for Economic Boom: FNCCI President',
			'sub_title' => '',
			'summary' => 'KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has expressed optimism that the formation of a new government involving the two largest parties in parliament has raised hopes for political stability in the country.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;This development has inspired the business community,&quot; he added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Describing political and policy instability as major obstacles to building an investment-friendly environment in the nation, Dhakal said the new government is expected to address these issues, thereby boosting economic activities.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">&quot;We have been dealing with an economic slowdown since the COVID-19 pandemic, and political instability has exacerbated the situation,&quot; Dhakal told RSS.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">He expressed hope that the new government, led by CPN (UML) Chair KP Sharma Oli and supported by the largest party in parliament, the Nepali Congress, would pave the way for economic revival. -- RSS</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21284',
			'image' => '20240717100021_chandra-sir-cover.jpeg',
			'article_date' => '2024-07-17 09:59:42',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '21557',
			'article_category_id' => '1',
			'title' => 'Earthquake Jolts Mugu this Morning',
			'sub_title' => '',
			'summary' => 'KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today',
			'content' => '<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">KATHMANDU: An earthquake with its epicenter in Darma of the Mugu district occurred at 4:40 AM today, according to the National Earthquake Monitoring and Research Centre, Lainchaur. The earthquake measured 3.9 on the Richter scale.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Prior to this, an earthquake was recorded at Tapethok in Taplejung, an eastern hill district of Nepal, on July 10. Recently, Nepal has experienced several minor earthquakes.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Nepal is considered a country vulnerable to earthquakes. -- RSS</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21283',
			'image' => '20240717094042_20230324121121_earth.jpg',
			'article_date' => '2024-07-17 09:39:19',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '34'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '21556',
			'article_category_id' => '1',
			'title' => 'Finance Minister Assures Support to Private Sector',
			'sub_title' => '',
			'summary' => 'Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel expressed confidence that the country's economic challenges will be resolved with the formation of a stable government. He attributed these challenges largely to political instability.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">July 17: Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel expressed confidence that the country&#39;s economic challenges will be resolved with the formation of a stable government. He attributed these challenges largely to political instability.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In a meeting with representatives of the Nepal Bankers&#39; Association on Tuesday, Poudel emphasized the government&#39;s determination to address issues across all sectors.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;He urged bankers to convey a positive message to the market, highlighting the government&#39;s focus on overcoming the country&#39;s economic difficulties. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&quot;Global factors and some internal reasons have contributed to the economic slowdown, but political instability is the main cause,&quot; Poudel stated. &quot;However, we now have a strong and stable government.&quot;</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel acknowledged the public and private sector&#39;s frustrations, identifying them as a major challenge. He assured bankers that the government would provide support to all sectors and indicated a willingness to implement policy interventions if necessary for economic reform.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Poudel also mentioned that the central bank would soon introduce a prudent monetary policy. While acknowledging the autonomy of the Nepal Rastra Bank, Poudel expressed confidence that it would address the legitimate demands of the banking sector.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Regarding the issue of overdue payments to construction entrepreneurs, Poudel promised to take a right decision soon after a thorough review. </span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-17',
			'modified' => '2024-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21282',
			'image' => '20240717055420_collage (69).jpg',
			'article_date' => '2024-07-17 05:52:40',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '42'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '21555',
			'article_category_id' => '1',
			'title' => 'Govt Fails to Meet Revenue Collection and Expenditures Targets   ',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The government's revenue collection and expenditure fell short of annual targets in the fiscal year 2023-24. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">KATHMANDU: The government&#39;s revenue collection and expenditure fell short of annual targets in the fiscal year 2023-24, which ended on Monday. According to the Office of the Auditor General, revenue collection stood at 74.29% of the target, while budget expenditures amounted to 80.44%.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had allocated a total budget of Rs 1,751 billion for the fiscal year. By mid-July 2024, expenditures reached Rs 1,408 billion. Specifically, expenditures under the recurrent heading amounted to Rs 952 billion, which is 83.41% of the allocated budget of Rs 1,141 billion. Expenditures under the capital heading was Rs 191.7 billion, representing 63.47% of the allocated budget of Rs 302 billion. Expenditures under the financial management heading totaled Rs 264.6 billion, reaching 86.07% of the allocated budget of Rs 307.4 billion for the fiscal year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had set a revenue collection target of Rs 1,472 billion but collected Rs 1,093 billion, achieving 74.29% of the target.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government had set a target of receiving foreign grants of Rs 49.94 billion but the actual realization stood at Rs 11.22 billion, achieving only 22.48% of the target.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Despite revising the budget twice, the government failed to meet its goals. The revised estimates of budget, presented by outgoing Finance Minister Barsha Man Pun on May 28, stood at Rs 1,530 billion, which is 87.4% of the initial budget.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Expenditure estimates were revised to 88.84% for the current heading, 84.13% for the capital heading, and 87.39% for the financial management heading compared to initial allocations.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Through the mid-term review of the budget, the government had allocated Rs 1,067 billion towards current expenditure, Rs 215 billion towards capital expenditure, and Rs 247 billion towards financial management. Similarly, the revenue collection target was reset at Rs 1.253 trillion.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21281',
			'image' => '20240716083744_20230511021044_1683767264.jpg',
			'article_date' => '2024-07-16 20:36:45',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '21554',
			'article_category_id' => '1',
			'title' => 'Over 400,000 Tourists Visited Mustang in FY 2023/24',
			'sub_title' => '',
			'summary' => 'MYAGDI: A total of 427,000 tourists visited Mustang district in one year, using the Beni-Jomsom road to explore different places in the fiscal year 2023/24.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">MYAGDI: A total of 427,000 tourists visited Mustang district in one year, using the Beni-Jomsom road to explore different places in the fiscal year 2023/24. This marks an increase of 47,504 tourists compared to the previous fiscal year, 2022/23.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">The Ghasa Police Post records the number of tourists and vehicles entering Mustang via the land route. According to Deputy Superintendent of Police at the District Police Office, Mustang, Bhoj Raj Pandey, 427,271 tourists in 74,374 vehicles entered Mustang in the last fiscal year. Of these, 318,814 were domestic tourists, 99,276 were from SAARC countries, and 9,171 were from other countries.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">In the fiscal year 2022/23, a total of 379,767 tourists&mdash;303,800 domestic and 75,967 foreign tourists&mdash;visited Mustang in 62,340 vehicles.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Krishna Prasad Subedi, a priest at Muktinath Temple, attributed the increase in tourists to improved road and transport facilities, publicity, digital marketing, the construction of modern hotels, and the inclusion of the Annapurna Circuit Trek among the world&#39;s top 10 destinations by a renowned media outlet.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">Mustang&#39;s attractions include mountains, lakes, monasteries, Muktinath Temple, caves, culture, and lifestyle. Key destinations in Mustang include Muktinath, Jomsom, Kagbeni, Lomanthang, Marpha, Thini, and Dhumba Lake.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;">However, Rinjin Gurung, Chairperson of Baragung Muktichhetra Rural Municipality, noted a decrease in the number of tourists from non-SAARC countries. He suggested that blacktopping the Beni-Jomsom road might increase tourist arrivals.&nbsp; -- RSS</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21280',
			'image' => '20240716042546_20230724112952_20220424035529_istockphoto-534638391-612x612.jpg',
			'article_date' => '2024-07-16 16:25:13',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '21553',
			'article_category_id' => '1',
			'title' => 'NEPSE Index Crosses 2300 Mark; Closes at 2310.59',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange (NEPSE) Index experienced a substantial increase of 70.18 points, or 3.13%, surpassing the 2300 mark and settling at 2310.59 on Tuesday, the third trading day of the week.',
			'content' => '<p>&nbsp;</p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 16: The Nepal Stock Exchange (NEPSE) Index experienced a substantial increase of 70.18 points, or 3.13%, surpassing the 2300 mark and settling at 2310.59 on Tuesday, the third trading day of the week.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&#39;s trading session, 315 scrips were traded through 119,011 transactions on NEPSE. A total of 25,836,285 units of shares were exchanged, resulting in a total turnover of Rs 9.13 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ngadi Group Power Limited (NGPL) led the turnover with a total transaction amount of Rs 21 crores. Five companies, including Sindhu Bikash Bank Limited (SINDU), Barun Hydropower Company Limited (BARUN), and Green Development Bank Limited (GRDBL), each saw their stock prices hit the positive circuit of a 10% increase for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, the 10.5% Nepal Investment Debenture 2082 (NIBD2082), NIBL Growth Fund (NIBLGF), and the 11% L.B.B.L Debenture 2089 (LBBLD89) each lost 10% and hit the negative circuit for the day.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sectoral performance, all sectors closed in the positive territory except for Mutual Funds. The Hydropower Index and Development Index spiked by 5.45% and 4.94%, respectively. Mutual Funds witnessed a minimal loss of 0.42%.</span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21279',
			'image' => '20240716035526_collage (3).jpg',
			'article_date' => '2024-07-16 15:54:28',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '42'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '21552',
			'article_category_id' => '1',
			'title' => 'NEPSE Index Increased by 6.83 Percent in One Year',
			'sub_title' => '',
			'summary' => 'KATHMANDU: The NEPSE index increased by 6.83 percent in one year.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">KATHMANDU: The NEPSE index increased by 6.83 percent in one year. According to the Nepal Stock Exchange (NEPSE), the NEPSE index which was 2097.09 points on the last trading day of the fiscal year (2079/80) reached 2240.41 points on the last trading day of the last fiscal year 2080/81 which ended on July 15.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Over the past year, among the 13 group indices traded on NEPSE, four groups experienced declines, while the indices of the remaining groups increased. Investors in the finance group earned the most, with the index of this group rising by 35.26 percent. The index, which was at 1,925.33 points on July 16, 2023, increased to 2604.16 points by July 15, 2024.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">In recent months, investors&rsquo; interest has particularly focused on shares of companies with a low number of shares, especially within the finance group. Investors attribute this trend to the limited supply of shares from companies with low capital, thus increasing the demand for and attractiveness of finance group shares.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Mutual fund group investors were the second highest earners over the year. The index for this group increased by 34.79 percent, rising from 15.15 points on July 16 of last year to 20.42 points on July 15 this year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The production and processing group was third in the list of top earners, with its index increasing by 19.34 percent over the year, moving from 5,637.51 points last year to 6727.70 points this year.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">The microfinance group saw its index rise by 18.99 percent, from 449.56 points last year to 4818.40 points this year, placing it fourth among the highest earners.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:14.0pt">Conversely, the life insurance group experienced the most significant decline, with its index decreasing by 10.20 percent over the year. The index dropped from 11,991.15 points last year to 10,767.60 points this year, making investors in the life insurance group the biggest losers during this period.</span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2024-07-16',
			'modified' => '2024-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '21278',
			'image' => '20240716025651_20200303040000_Nepse Achieves Another Milestone with All-Time High Transactions.jpg',
			'article_date' => '2024-07-16 14:56:14',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => null,
			'user_id' => '34'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
simplexml_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

file not found!

Latest

173 People Die in Disaster Incidents since June 10

Crusher Federation Urges PM Oli for Industry Renewal

Prime Minister Calls for Enhancing 'Hello Sarkar' Service

Bardiya National Park Sees Increase in Tourist Arrivals

Experts, Manpower Agencies at Odds Over Draft of Labour Migration Policy

Lower Seti Hydropower Project Acquires o500 Ropanis of Land

Government Proposes Formation of New Authority to Regulate Cooperatives

Sugar Prices Surge ahead of Festive Season amid Govt’s Failure to Import Sugar

BFIN to Host Conference in Kathmandu on Wednesday

Price of Gold Reaches All-Time High in Nepal

FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00