August 25: Four micro insurance companies have issued insurance policies worth more than Rs 70 million in just one month.…
August 25: Four micro insurance companies have issued insurance policies worth more than Rs 70 million in just one month.…
August 25: Farmers of Bhume Rural Municipality ward no 4 and 8 in Rukum (East) are elated with the operation of a ropeway in their…
August 25: The capital gains tax (CGT) collected from investors in the securities market has decreased by more than Rs 248.1 million in the month of Shrawn (mid-July to mid-August) compared to the month of Asar (mid-June to mid-July) this year.…
August 25: Soaring food and fuel prices and the coronavirus pandemic pushed nearly 70 million more people in developing Asia into extreme poverty last year, the Asian Development Bank said in a report released…
August 25: A day after a plane crash that presumably killed Russia's infamous mercenary boss Yevgeny Prigozhin and all other nine people on board, Russian President Vladimir was still silent on the incident on…
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Bad weather has disrupted flights in Karnali Province for the past two days. Continuous rainfall has led to flight cancellations to and from key airports such as Juphal in Dolpa, Simkot in Humla, and Talcha in…
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August 24: The Special Economic Zone (SEZ) Authority last issued a notification on July 11 to lease the plots of SEZ located in Bhairawa and Simara for the establishment and operation of industries.…
August 24: The Nepal Intermodal Transport Development Committee has informed that there has been an increase in the number of new vehicles arriving at the Chobhar Dry Port for customs clearance.…
August 24: Minister for Physical Infrastructure and Transport, Prakash Jwala, and Saudi Arabia's ambassador to Nepal, Saad Nasser Abdullah Abu Haimed, held a meeting on…
August 24: The Return on Equity (ROE) or the return on investment of most of the development banks declined in the last fiscal year (FY) compared to the previous…
August 24: Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him.…
August 24: The Supreme Court has issued an interim order not to implement the infrastructure development programmes of the House of Representatives and all seven provincial assemblies mentioned in the budget of the current fiscal year (FY…
August 24: The monsoon rain is expected to persist for the next two to three…
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' => '18835', 'article_category_id' => '1', 'title' => 'Micro Insurance Companies Issue Policies worth more than Rs 70 Million in a Month', 'sub_title' => '', 'summary' => 'August 25: Four micro insurance companies have issued insurance policies worth more than Rs 70 million in just one month. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 25: Four micro insurance companies have issued insurance policies worth more than Rs 70 million in just one month. According to the Nepal Insurance Authority, micro insurance companies issued insurance policies worth Rs 71.1 million in the month of Shrawan (mid-July to mid-August).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">On November 27 last year, the authority had issued licenses to seven micro insurance companies, including three micro life insurance companies and four micro non-life insurance companies. Four of them have already started their business.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Micro insurance companies provide insurance to marginalized and low-income communities in remote, rural and urban areas to mitigate future risks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the authority, two small life insurance companies issued 219 insurance policies worth Rs 633 million in the review month. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Guardian Micro Life Insurance Company issued 127 insurance policies and collected Rs 141,000 as first installment of insurance premium.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Similarly, Crest Micro Life Insurance Limited issued 92 insurance policies and collected Rs 64,000 insurance fee in first installment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the non-life insurance sector, two insurance companies issued three insurance policies worth Rs 8 million in the review month. Micro Insurance Company Limited collected Rs 10,000 as insurance premium.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chiranjeevi Nepal, chairman of the then Insurance Board (now Nepal Insurance Authority) said that micro insurance is a new concept in Nepal. According to Nepal, if the insurance authority separates the work by understanding the essence of the micro insurance companies according to international practice, the new micro insurance companies will help to further expand the scope of insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The authorities must study and make standards to separate the areas of life and non-life insurance companies that are operated by micro insurance companies. The central bank has also fixed the area where microfinance companies can work," he says. "If the authority also fixes the scope for micro insurance companies to work, these companies will be of more help in the development and expansion of the insurance sector."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chirayu Bhandari, Chief Executive Officer (CEO) of Guardian Micro Life Insurance, said that there is immense potential in micro insurance in Nepal. Guardian Micro has issued 127 insurance policies within 5-6 days of its operation,'' he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that since the main target group of micro insurance companies is the low-income group, awareness about micro insurance is necessary. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Bhandari, Guardian Micro Insurance Company has done all the necessary works to deliver services through the mobile app and therefore insurance policy can be purchased from anywhere at any time. Similarly, the company said they have made all the works paperless to facilitate the service for the insured.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18564', 'image' => '20230825022412_Insurance.jpg', 'article_date' => '2023-08-25 14:23:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18834', 'article_category_id' => '1', 'title' => 'Ropeway Brings Cheers to Farmers in Rukum East ', 'sub_title' => '', 'summary' => 'August 25: Farmers of Bhume Rural Municipality ward no 4 and 8 in Rukum (East) are elated with the operation of a ropeway in their locality.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: Farmers of Bhume Rural Municipality ward no 4 and 8 in Rukum (East) are elated with the operation of a ropeway in their locality. This transport facility is considerably facilitating the farmers in getting market for their domestic produces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 1,144 metres- ropeway installed and operated by the Gravity Goods Ropeway in these two wards ferry vegetables and fruits to and fro in no time. Dhan Bahadur Budha, a farmer of Kuchibang, recalled that earlier it would take them some three to four hours of walk to reach Kandabagar from Kuchibang with their produces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"With the operation of the ropeway, it just takes two minutes on average," he gushed. The ropeway has saved their time and brought convenience for the people of the villages that do not have access to roads yet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Road track has been opened in Kuchibang recently. However, vehicles do not ply the track, bemoaned Budha. Khabang, Rukumkot among others are the nearest market for the produces grown in these areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jhalak Roka, another farmer from Kuchibang, admitted that he had not considered vegetable farming given the inconvenience they had been facing in reaching the marketplaces. But, due to the operation of ropeway, he admitted that many farmers like him have taken up commercial farming of vegetables such as cabbages, carrot and cucumber, among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kuchibang has favorable soil for vegetable farming, especially the above-mentioned vegetables. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of 242 households at Kuchibang, Maibang, Jhimka and Handi among other places have been hugely benefited with the ropeway, according to Dilli Budhachettri, a local accountant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Besides farmers, the ropeway has been a great assistance for other purposes such as transporting food items related to the mid-day snacks for schools, admitted Budhachettri. The ropeway that connects Kuchibang and Kandabagar was built with the financial assistance of the UK Aid and other social organizations. The UK Aid provided over Rs 4.3 million and the remaining amount of Rs 500,000 was collected through locals as labour donation, informed Hom Prakash Shrestha, chairperson of Bhume Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plan is afoot to make Kuchibang a model agricultural village with the operation of the ropeway facilitating the farmers for their agricultural produces, according to Shrestha. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18563', 'image' => '20230825014947_hq720.jpg', 'article_date' => '2023-08-25 13:49:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18833', 'article_category_id' => '1', 'title' => 'Capital Gains Tax from Secondary Market Declines by Rs 250 Million in a Month', 'sub_title' => '', 'summary' => 'August 25: The capital gains tax (CGT) collected from investors in the securities market has decreased by more than Rs 248.1 million in the month of Shrawn (mid-July to mid-August) compared to the month of Asar (mid-June to mid-July) this year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 25: The capital gains tax (CGT) collected from investors in the securities market has decreased by more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">248.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million in the month of Shrawn (mid-July to mid-August) compared to the month of Asar (mid-June to mid-July) this year. According to the information provided by CDS and Clearing Limited (CDSC), the clearing house of securities transactions, the government collected capital gains tax of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9 million in mid-August against Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">649</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.49 million in mid-July.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Suresh Neupane, information officer of CDSC, said that the government collected CGT of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 million from institutional investors in mid-July to mid-August. According to Neupane, the government had collected CGT of more than Rs 134.7 million from institutional investors a month ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Institutional investors are required to pay </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent capital gains tax to the government when trading securities at a profit. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the government collects two types of capital gains tax from individual investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">CDSC spokesperson Neupane said that the government collected CGT of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">224</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.7 million from short term investments and more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">1.5 million from long term investments made by individual investors in mid-July to mid-August.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that a month ago, more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">359.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million were collected from short-term investors and more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">4.6 million from long-term investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the secondary market of securities, the number of individual investors is more than institutional investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Information officer of Nepal Stock Exchange (NEPSE) Murahari Parajuli said that more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million investors have traded in the secondary market of securities. According to Parajuli, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> investors are active in the business every day when the market is increasing, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">65,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are active on the day when the market is decreasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Lately, there is not much enthusiasm in the secondary market. Due to the increase in the trend of booking profits in a short period of time, the market has not been able to gain positive momentum. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Brokers say that as the market could not pick up pace, the investors were in a state of confusion and the transaction amount also decreased along with the market capitalization in the last one month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">When the capital gains tax paid by the investors who have made profit is reduced, it indicates that the income of the investors from the securities market has also reduced.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Leading investor Dambaru Ballabh Ghimire says that when the income of investors in the securities market increases, the income of the government will also increase. He says that investors like him, who have made this sector a source of income, are in trouble because the market is not gaining positive momentum. Ghimire, who has been active in the stock market for the past four decades, says that long-term investors should not be disappointed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Admitting that the market has a natural cycle of growth and decline, Ghimire emphasized on the development of the market so that the income of the investors does not decrease.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government also seems to have a special interest in the development of this sector. Recently, the government has tried to diversify the market by approving the seventh amendment proposal of the Securities Registration and Issuance Regulations in order to develop the securities market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even the Securities Board of Nepal, the regulatory body of the securities market, is emphasizing on policy reforms keeping in mind the interests of the investors. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18562', 'image' => '20230825010116_1692935579.jpg', 'article_date' => '2023-08-25 13:00:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18832', 'article_category_id' => '1', 'title' => 'Inflation, Covid Pushed Nearly 70 Million Asians into Extreme Poverty: ADB ', 'sub_title' => '', 'summary' => 'August 25: Soaring food and fuel prices and the coronavirus pandemic pushed nearly 70 million more people in developing Asia into extreme poverty last year, the Asian Development Bank said in a report released Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: Soaring food and fuel prices and the coronavirus pandemic pushed nearly 70 million more people in developing Asia into extreme poverty last year, the Asian Development Bank said in a report released Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Manila-based lender defines extreme poverty as living on less than $2.15 a day based on inflation-adjusted 2017 prices. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Asia and the Pacific is steadily recovering from the Covid-19 pandemic, but the increased cost-of-living crisis is undermining progress toward eliminating poverty," ADB chief economist Albert Park said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bank said an estimated 155.2 million people, or 3.9 percent of the region's population, were living in extreme poverty in 2022 -- 67.8 million more than would have been without the pandemic and higher living costs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Developing Asia refers to the multilateral lender's 46 emerging member economies, stretching from Kazakhstan in Central Asia to the Cook Islands in the Pacific. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poor people have been hurt the most by higher inflation as they are less able to pay higher prices for necessities, leaving many unable to save money, pay for healthcare or invest in education, the report said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ADB estimated that the pandemic pushed 75-80 million more people into extreme poverty in 2020, compared to its pre-pandemic projections. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In July, the bank said that it expects inflation to ease to 3.6 percent this year -- from 4.4 percent in 2022 -- as food and fuel prices softened. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While developing Asian economies should continue to make progress against poverty, an estimated 1.26 billion people, or about 30 percent of the region's projected population by 2030, will still be considered "economically vulnerable", it said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The term refers to a person living on $3.65 to $6.85 a day based on 2017 prices. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => 'Inflation, poverty, extreme, Covid, ADB, Asian, development, bank', 'description' => '', 'sortorder' => '18561', 'image' => '20230825120643_adbb.jpg', 'article_date' => '2023-08-25 12:06:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18831', 'article_category_id' => '1', 'title' => 'Wagner Boss Presumed Dead in Russia Plane Crash ', 'sub_title' => '', 'summary' => 'August 25: A day after a plane crash that presumably killed Russia's infamous mercenary boss Yevgeny Prigozhin and all other nine people on board, Russian President Vladimir was still silent on the incident on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: A day after a plane crash that presumably killed Russia's infamous mercenary boss Yevgeny Prigozhin and all other nine people on board, Russian President Vladimir was still silent on the incident on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash on Wednesday evening took place exactly two months after Prigozhin led a rebellion against Moscow's top military brass, in the biggest threat to Putin's long rule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moscow opened a probe into violations of air traffic rules but investigators have been mute since, and speculation of a possible assassination is rife. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ukraine denied involvement, with President Volodymyr Zelensky saying: "We have nothing to do with this situation, that's for sure." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I think everyone knows who this concerns," Zelensky said, in an apparent reference to Putin. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moscow had still not officially confirmed the death of the 62-year-old warlord, saying only that he was listed as a passenger on the flight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the Wagner rebellion on June 23-24, Putin gave an address to Russians in which he called Prigozhin -- once his ally -- a "traitor", and warned against "civil war". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prigozhin had spent months launching scathing attacks on the way Moscow led its Ukraine offensive before his 48-hour mutiny shook Putin's rule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many were surprised when Moscow then dropped charges against Prigozhin and allowed him to go into exile in Belarus. </span><br /> <br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Literally falls from the sky'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some Western leaders questioned if the crash was an accident. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">US President Joe Biden said he did not know what happened but added: "There's not much that happens in Russia that Putin's not behind." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France saw "reasonable doubts" about the crash and Germany said it followed a pattern of "unclarified" fatalities in Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">German Foreign Minister Annalena Baerbock appeared to say it was suspicious that "a disgraced former confidant of Putin suddenly, literally falls from the sky two months after he attempted a mutiny". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even influential pro-Kremlin figures, such as state television personality and Putin ally Margarita Simonyan, seemed to suggest that it could have been an assassination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Among the versions that are being discussed (about the crash) is that it was staged. But personally, I'm leaning towards the more obvious one," she said on social media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his long year rule, opponents of Putin have disappeared in mysterious circumstances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Russia's aviation authority published the names of the people on board the Embraer private jet late on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It included Prigozhin and his right-hand man, Dmitry Utkin, a shadowy figure who managed Wagner's operations and allegedly served in Russian military intelligence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Russian police patrolled the crash site near the village of Kuzhenkino, some 350 kilometres (220 miles) north of Moscow in the Tver region. Some masked men carried rifles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A woman living near Kuzhenkino said her neighbour heard a roar and saw "sparkling from the plane", accompanied by fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"A neighbour ran up to me with shaking hands and when we went to the window I saw only one mushroom (a cloud from the explosion), a black cloud," she said in video published by state-run agency RIA Novosti. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Real patriot'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Video verified by AFP from the scene appeared to show the Embraer Legacy plane engulfed in a plume-like column of white smoke as it fell from the sky. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Flightradar24 tracker website said the plane flying from Moscow to Saint Peterburg appeared on their radar until the last 30 seconds and descended "dramatically" at around 15:20 GMT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some Wagner-linked Telegram channels had initially suggested that the plane was shot down by Russian air defence, on a day when Kyiv struck Russia with more drone attacks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While he publicly challenged Moscow's authority, Prigozhin appeared to enjoy some popularity in Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He appealed to nationalist-leaning Russians -- also suspicious of the army leadership during the Ukraine offensive -- who embraced his tough-guy speak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some even speculated that he would take part in the 2024 presidential election, which is expected to extend Putin's rule until at least 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"He was one of the few real patriots in our country," Pavel Zakharov said as he laid flowers at Wagner's headquarters in Saint Petersburg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many Russians eagerly awaited Prigozhin's outspoken social media videos, often full of swear words and a sharp contrast to the tightly controlled narrative of Russian officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Everyone was always waiting (for) what Uncle Zhenia would say," Igor, who also paid his respects to the crash victims, told AFP, referring to Prigozhin by the diminutive of his first name. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Ukrainians hope death 'true'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But some feared that Prigozhin's death would raise tensions within Russian society. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I hope it will not become for our society some kind of red rag to a bull," Natalia, a woman who came to the Wagner Saint Petersburg HQ said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagner offices were still operating and even recruiting in Russia after Prigozhin's rebellion, which saw his men take over a military headquarters in the southern city of Rostov-on-Don and march on Moscow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Siberia, a region from where Wagner recruited heavily, people also laid flowers at the mercenary company's office in Novosibirsk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But in Ukraine, where Wagner fighters were known for their exceptional brutality -- including extrajudicial killings of their own men -- many welcomed the news of Prigozhin's likely end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The warlord had recruited tens of thousands of Russian convicts to fight in Ukraine, often thrown at the forefront of battles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I feel really happy that this person died, if it is true," government worker Iryna Kuchina told AFP in central Kyiv. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Let's hope that it is." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagner's future without Prigozhin -- including its involvement in African conflicts -- remained unclear. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The shady businessman's fate had been under question for two months, since the unusual deal with Minsk in which the Kremlin "guaranteed" he would be allowed to live in Belarus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minsk has for weeks played up the presence of the Russian fighters on its territory, saying it had set up camps for them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is not yet clear what will happen to the Belarus-based fighters. -- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18560', 'image' => '20230825112900_AP23236663202790.jpg', 'article_date' => '2023-08-25 11:28:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18830', 'article_category_id' => '1', 'title' => '265 tons of Onions Arrive at Kalimati; Price Likely to Stabilize', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 25: A total of 265 tons of onions have been brought to Kalimati in the last two days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Binay Shrestha, the spokesperson of the Kalimati Vegetable and Fruit Development Committee, 265 tons of onions were brought on Wednesday and Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal had experienced shortage of onions since Sunday after India imposed 40% tariff on the onion export as onion import was stopped. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee had not fixed the prices of onions citing scarcity of onions on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Committee Spokesperson Shrestha mentioned that price of onions was not fixed as Kalimati market did not have onions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the arrival of onions into the market since Wednesday, supply of the onions has become easy, and regular. “The supply of the onions has become normal in the market,” said spokesperson Shrestha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Onions were priced in the market from a minimum of Rs 75 to a maximum of Rs 80 per kilogram on Thursday. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, small traders have reportedly sold for up to Rs 105 per kilogram, according to consumers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The price of onions will stabilize from now, Shrestha said. </span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18559', 'image' => '20230825060841_collage.jpg', 'article_date' => '2023-08-25 06:06:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18829', 'article_category_id' => '1', 'title' => 'Flights Disrupted in Karnali Province for Two Days', 'sub_title' => '', 'summary' => 'Bad weather has disrupted flights in Karnali Province for the past two days. Continuous rainfall has led to flight cancellations to and from key airports such as Juphal in Dolpa, Simkot in Humla, and Talcha in Mugu.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 24: Bad weather has disrupted flights in Karnali Province for the past two days.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Continuous rainfall has led to flight cancellations to and from key airports such as Juphal in Dolpa, Simkot in Humla, and Talcha in Mugu.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rajendra Thakulla, an engineer from Thulibheri Municipality in Dolpa, expressed his frustration as he remained stranded in Nepalgunj due to the flight disruptions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He bemoaned, "I've been waiting for the flight to operate for two days now. Bad weather has prevented me from flying to Dolpa, and road travel is also challenging."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The people living in these remote mountainous areas of the Karnali province heavily rely on air travel, primarily because most of the roads have been damaged by monsoon-related floods and landslides.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Unfortunately, unfavorable weather conditions have further compounded their transportation woes.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even though there is a road connection to Dolpa, traveling by road during the rainy season remains perilous, with rising water levels in rivers and streams posing significant risks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, Humla still lacks road connectivity, making it particularly vulnerable to disruptions in air travel. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18558', 'image' => '20230824053851_collage (5).jpg', 'article_date' => '2023-08-24 17:37:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18828', 'article_category_id' => '1', 'title' => 'NEPSE Index Falls After Two Days’ Gains', 'sub_title' => '', 'summary' => '', 'content' => '<p> </p> <p><span style="font-size:20px">August 24: </span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After experiencing two consecutive days of gains, the Nepal Stock Exchange (NEPSE) Index saw a decline on Thursday, the final trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The index, which had risen by 47 points in the preceding two trading days, experienced a loss of 31.52 points or 1.54%, closing at 2013.93 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market experts and analysts have attributed this downturn to the prevalence of short-term traders who tend to sell their stocks as soon as they secure a small profit, leading to a downward pressure on the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the day's trading session, a total of 275 different stocks were traded, resulting in a cumulative volume of 4,657,137 shares exchanged through 40,800 transactions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The total value of the shares traded amounted to Rs 1.55 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Soaltee Hotel Limited (SHL) emerged as the leader in turnover, with a substantial trading value of Rs. 7.87 crores and a closing market price of Rs. 455.10. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Molung Hydropower Company Limited (MHCL) experienced the highest decline of the day, losing 8.54%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Kutheli Bukhari Small Hydropower Limited (KBSH), which gained an impressive 9.99% and technically hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Across the board, all sub-indices ended the day in the negative territory, with the Finance Index suffering the most significant decline at 2.92%.</span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18557', 'image' => '20230824043840_collage (4).jpg', 'article_date' => '2023-08-24 16:37:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18827', 'article_category_id' => '1', 'title' => 'Locations of Special Economic Zones not Suitable: Study', 'sub_title' => '', 'summary' => 'August 24: The Special Economic Zone (SEZ) Authority last issued a notification on July 11 to lease the plots of SEZ located in Bhairawa and Simara for the establishment and operation of industries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 24: The Special Economic Zone (SEZ) Authority last issued a notification on July 11 to lease the plots of SEZ located in Bhairawa and Simara for the establishment and operation of industries. The same notification was issued earlier on April 30 as well. </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In two months, the authority made two public calls to businessmen to establish and operate industries in those newly-built facilities, but there was no encouraging response from the industrialists. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">A study conducted amid the reluctance of businessmen to join the SEZ has shown that the locations selected for the SEZ are not suitable. It is mentioned in the study report that both SEZs, which are partially operational, and those under construction are not in suitable locations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report on 'Special Economic Zones in Nepal: Current Situation, Problems and Effective Operation Measures', prepared by the Policy Research Foundation under the coordination of former Industry, Commerce and Supply Secretary Chandra Kumar Ghimire, states that the location selected for the SEZ is not suitable. The report added, "Location is one of the key factors that makes SEZs successful in the world.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">It has been mentioned in the report that the places selected for SEZ should be connected with roads and railways, dry ports, in addition to having transport and transit agreements with the nearest sea ports and within quick access to air cargo and international airports. However, the report points out that this is not the case in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Additional SEZs have been proposed in Jumla, Gorkha and Nuwakot. It has been mentioned in the report that these places are also not suitable for export promotion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report of the foundation shows that the subsidiary industries were not allowed to operate in the areas designated for the main industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Simara is named as garment SEZ. However, it has been made clear in the report that industries such as stitching, thread, cloth, embroidery, dyeing, fashion designing services, semi and fully skilled workers are not allowed to open schools for teaching skills.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report points that the current policies and procedures are not SEZ-friendly. The Forestry Act 2076, Environment Protection Act 2076, Labor Act 2074 and the procedures related to providing subsidies to exports have not given any due attention to the industries established in SEZ. Nepal Trade Integrated Strategy 2016 and Commercial Policy 2072 are also silent on the issue of industries to be established in those areas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Section 9 of the Electricity Distribution Regulations 2069 states that 11 KV or 33 KV feeders can be taken for more than one industry in a SEZ compound. However, the provision of providing electricity to industries there at subsidized rates has not been mentioned anywhere in the existing policies related to SEZ. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The reasons for the success of SEZ in other countries are also mentioned in the report. It states that the SEZ of other countries has been successful due to the location advantage and the country's macroeconomic situation, support for industrial investment, cost and trade volume and transaction value, the level of skill and the availability of human resources. Similarly, management and service quality, government policies, laws, regulations and political and government stability are mentioned as reasons for the success of SEZ.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the report, there are 5,383 SEZs worldwide. Out of them, there are 4046 SEZs in Asia alone. There are 173 SEZs in underdeveloped countries. The number of SEZs in neighboring India has reached 373.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'special economic zone, Simara, Bhairahawa, location, suitable, study, Nepal, world, policy', 'description' => '', 'sortorder' => '18556', 'image' => '20230824035708_sez simara.jpg', 'article_date' => '2023-08-24 15:54:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18826', 'article_category_id' => '1', 'title' => 'Vehicles Start Arriving at Chobhar Dry Port for Customs Clearance', 'sub_title' => '', 'summary' => 'August 24: The Nepal Intermodal Transport Development Committee has informed that there has been an increase in the number of new vehicles arriving at the Chobhar Dry Port for customs clearance. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 24: The Nepal Intermodal Transport Development Committee has informed that there has been an increase in the number of new vehicles arriving at the Chobhar Dry Port for customs clearance. New vehicles have started arriving at this port for customs clearance from June 29.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the committee, 49 vehicles have arrived at the port so far.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ashish Gajurel, executive director of the committee, informed New Business Age that the arrival of new vehicles has already started. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 44 cars of Sangrila Motors Pvt Ltd and five double-cab pickup vehicles of Jio Automobiles Pvt Ltd have arrived at the port for customs clearance. He said that those vehicles were brought to Chobhar from Birgunj Integrated Check Post.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gajurel said that they have started facilitating customs clearance of vehicles at the Chobhar Dry Port after discussing the matter with NADA Automobiles Dealers Association of Nepal several times. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the importers will be bringing more vehicles at the dry port in the coming days. In addition, he said, discussions are being held with other businessmen about bringing goods to Chobhar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The entry fee is free for freight vehicles and new vehicles coming for customs clearance at the dry port customs office. The committee said that the parking and warehouse fees have also been kept at a minimum. According to the committee, 176 containers and 49 vehicles have arrived at the port for customs clearance due to these facilities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee is optimistic that the port will be fully operational soon as there has been a continuous increase in the number of vehicles and containers arriving at this newly-built port.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Chobhar Dry Port was built with an investment of Rs 1.5 billion. It took three years to complete the construction of the dry port.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It was inaugurated by the then Prime Minister Sher Bahadur Deuba in March, 2022. The port is spread over an area of 220 ropanis. The dry port can hold 500 containers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such a large dry port was constructed in Chobhar to facilitate the import and export of goods to and from Kathmandu, the largest city of the country, as well as reduce congestion at major customs such as Birgunj, and Bhairahawa.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Chobhar, dry, port, customs, clearance, vehicles', 'description' => '', 'sortorder' => '18555', 'image' => '20230824034338_20230124115624_Chobhar Dy port.jpg', 'article_date' => '2023-08-24 15:42:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18825', 'article_category_id' => '1', 'title' => 'Saudi Arabia Requests for Substantive Proposal for Cooperation in Nepal's Infrastructure Development', 'sub_title' => '', 'summary' => 'August 24: Minister for Physical Infrastructure and Transport, Prakash Jwala, and Saudi Arabia's ambassador to Nepal, Saad Nasser Abdullah Abu Haimed, held a meeting on Wednesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: Minister for Physical Infrastructure and Transport, Prakash Jwala, and Saudi Arabia's ambassador to Nepal, Saad Nasser Abdullah Abu Haimed, held a meeting on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the two discussed issues related to infrastructure development and bilateral partnership in development projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Terming Saudi Arabia as one of the major employment destinations for Nepali citizens, the minister proposed for Saudi Arabia's partnership in Nepal’s infrastructure and transport sector as well. On the occasion, he said around 400,000 Nepalis are currently engaged in the labour market in Saudi Arabia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> "Nepal is being graduated from the category of the least developed countries by 2026," the Minister informed the Saudi Arabia envoy, insisting on further investment and bilateral cooperation in Nepal's infrastructure industry for the sustainability of such graduation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, Saudi Arabia’s ambassador said they were ready to cooperate with Nepal in infrastructure and transport sector, and requested Nepal for presenting a substantive proposal towards that end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Minister Jwala told the ambassador that Nepal had already decided to support Saudi Arabia's candidature for hosting World Expo- 2030. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18554', 'image' => '20230824032820_Flag-Pins-Nepal-Saudi-Arabia552f760893184_600x600.jpg', 'article_date' => '2023-08-24 15:27:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18824', 'article_category_id' => '1', 'title' => 'Return on Equity of 10 Development Banks Shrinks', 'sub_title' => '', 'summary' => 'August 24: The Return on Equity (ROE) or the return on investment of most of the development banks declined in the last fiscal year (FY) compared to the previous FY.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 24: The Return on Equity (ROE) or the return on investment of most of the development banks declined in the last fiscal year (FY) compared to the previous FY.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ROE of 10 out of 16 development banks listed in the Nepal Stock Exchange (NEPSE) decreased in the review year. Analysts consider that the decline in ROE as to the decrease in the return of shareholders who invested in banks and financial institutions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Return on equity (ROE) is a measure of financial performance of a company </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">which gives information about the rate at which investors can get returns from investments made in shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors analyze ROE to see if a company is consistently outperforming other companies in the same sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Equity is obtained by subtracting external liabilities (claims other than shareholders) from total assets. And mathematically, ROE is obtained by dividing net profit by total equity. The longer the company is giving good returns on equity, the better it is for investment. ROE is a measure of a company's ability to make a profit and how effectively it generates profit. Companies with high ROE are considered good for investment. When comparing ROE, it should be compared between companies in the same sector. Generally, investors who invest in any bank and financial institution expect to get a return of 15 to 20 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the profits earned by banks, ROE differentiates how much dividends are paid to the shareholders. According to the general principles of investment, the attraction of investors should decrease in areas where ROE decline, but it seems that the attraction of investors is more in the shares of development banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The main reason for this is that the volume (paid-up capital) is low. Looking at the recent trend of the stock market, when the market increases, the share price of companies with low paid-up capital increases unnaturally. This means that traders are doing more business in the shares of such companies. Therefore, the share price is increasing. Recently, the number of short-term investments is more than long-term investments. Investors do not pay much attention to the financial condition and dividends after getting returns in a short period of time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Highest ROE of Garima Development Bank</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Garima Development Bank has the highest ROE of 15.70 percent among the 16 development banks listed in NEPSE. Similarly, Muktinath Development Bank's ROE is 14.45 percent. Two of the 16 development banks, Saptakoshi Development Bank and Narayani Development Bank are in losses. Similarly, the lowest ROE is of Sindhu Bikas Bank at 2.13 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Corporate Development Bank's ROE is 2.43 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ten years ago, the ROE of Muktinath Bikas Bank was 25.59 percent, but in the year 2022/23, it dropped to 14.45 percent. Similarly, Garima Bikas Bank's ROE was 19.24 in the year 2012/13, while last year it dropped to 15.70 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Return on Equity, bank, profit, investors, NEPSE, share', 'description' => '', 'sortorder' => '18553', 'image' => '20230824024924_bankkkkkkk.jpg', 'article_date' => '2023-08-24 14:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18823', 'article_category_id' => '1', 'title' => 'Rice Shortage is Sending Prices Soaring across the World', 'sub_title' => '', 'summary' => 'August 24: Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. Prices for rice grown in Kenya soared a while ago because of higher fertilizer prices and a years-long drought in the Horn of Africa that has reduced production. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Cheap rice imported from India had filled the gap, feeding many of the hundreds of thousands of residents in Nairobi's Kibera slum who survive on less than $2 a day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But that is changing. The price of a 25-kilogram (55-pound) bag of rice has risen by about a fifth since June, going from the equivalent of about $14 to $18. Wholesalers are yet to receive new stocks since India, the world's largest exporter of rice by far, said last month that it would ban some rice shipments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It's an effort by the world’s most populous nation to control domestic prices ahead of a key election year - but it’s left a yawning gap of around 9.5 million metric tons (10.4 tons) of rice that people around the world need, roughly a fifth of global exports. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I’m really hoping the imports keep coming,” said Ndege, 51, who's sold rice for 30 years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He isn’t the only one. Global food security is already under threat since Russia halted an agreement allowing Ukraine to export wheat and the El Nino weather phenomenon hampers rice production. Now, rice prices are soaring - Vietnam’s rice export prices, for instance, have reached a 15-year high - putting the most vulnerable people in some of the poorest nations at risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The world is at an “inflection point," said Beau Damen, a natural resources officer with the U.N. Food and Agriculture Organization based in Bangkok. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even before India’s restrictions, countries already were frantically buying rice in anticipation of scarcity later when the El Nino hit, creating a supply crunch and spiking prices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">What could make the situation worse is if India’s ban on non-basmati rice creates a domino effect, with other countries following suit. Already, the United Arab Emirates has suspended rice exports to maintain its domestic stocks. Another threat is if extreme weather damages rice crops in other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An El Nino is a natural, temporary and occasional warming of part of the Pacific Ocean that shifts global weather patterns, and climate change is making them stronger. Scientists expect the one underway to expand to supersized levels, and, in the past, they have resulted in extreme weather ranging from drought to flooding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact would be felt worldwide. Rice consumption in Africa has been growing steadily, and most countries are heavily dependent on imports. While nations with growing populations like Senegal have been trying to grow more of their own rice - many are struggling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amadou Khan, a 52-year-old unemployed father of five in Dakar, says his children eat rice with every meal except breakfast, which they often have to skip when he's out of work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I am just getting by - sometimes, I’ve trouble taking care of my kids,” he said. Imported rice - 70% of which comes from India - has become prohibitively expensive in Senegal, so he's eating homegrown rice that costs two-thirds as much. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senegal will turn to other trading partners like Thailand or Cambodia for imports, though the West African country is not “far from being self-sufficient" on rice, with over half of its demand grown locally, Agriculture Ministry spokesperson Mamadou Aïcha Ndiaye said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Asian countries, where 90% of the world’s rice is grown and eaten, are struggling with production. The Philippines was carefully managing water in anticipation of less rain amid the El Nino when Typhoon Doksuri battered its northern rice-producing region, damaging $32 million worth of rice crops - an estimated 22% of its annual production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The archipelago nation is the second-largest importer of rice after China, and President Ferdinand Marcos Jr. has underscored the need to ensure adequate buffers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India’s rice restrictions also were motivated by erratic weather: An uneven monsoon along with a looming El Nino meant that the partial ban was needed to stop food prices from rising, Indian food policy expert Devinder Sharma said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The restrictions will take offline nearly half the country's usual rice exports this year, said Ashok Gulati of the Indian Council for Research on International Economic Relation. Repeated restrictions make India an unreliable exporter, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“That’s not good for the export business because it takes years to develop these markets,” Gulati said. Vietnam, another major rice exporter, is hoping to capitalize. With rice export prices at a 15-year high and expectations that annual production to be marginally higher than last year, the Southeast Asian nation is trying to keep domestic prices stable while boosting exports. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Agriculture Ministry says it's working to increase how much land in the Mekong Delta is dedicated to growing rice by around 500 square kilometers - an area larger than 90,000 football fields. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Already the Philippines is in talks with Vietnam to try to get the grain at lower prices, while Vietnam also looks to target the United Kingdom, which receives much of its rice from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But exporters like Charoen Laothamatas in neighboring Thailand are wary. The Thai government expects to ship more rice than it did last year, with its exports in the first six months of the year 15% higher than the same period of 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the lack of clarity about what India will do next and concerns about the El Nino means Thai exporters are reluctant to take orders, mill operators are unwilling to sell and farmers have increased the prices of unmilled rice, said Laothamatas, president of the Thai Rice Exporters Association. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With prices fluctuating, exporters don't know what prices to quote - because prices may spike again the next day. “And no one wants to take the risk,” Laothamatas said. – AP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'rice, price, soar, hike, India, export, ban, Africa, world', 'description' => '', 'sortorder' => '18552', 'image' => '20230824012334_ricee.jpg', 'article_date' => '2023-08-24 13:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18821', 'article_category_id' => '1', 'title' => 'SC Issues Interim Order not to Implement Constituency Infrastructure Development Fund', 'sub_title' => '', 'summary' => 'August 24: The Supreme Court has issued an interim order not to implement the infrastructure development programmes of the House of Representatives and all seven provincial assemblies mentioned in the budget of the current fiscal year (FY 2023/24).', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 24: The Supreme Court has issued an interim order not to implement the infrastructure development programmes of the House of Representatives and all seven provincial assemblies mentioned in the budget of the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Constitutional Bench of the Supreme Court issued the order on Wednesday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Responding to a writ petition filed by Advocate Trilok Bahadur Chand, the Constitutional Bench consisting of Chief Justice Bishwambhar Prasad Shrestha, justices Ishwar Prasad Khatiwada, Anand Mohan Bhattarai, Anil Kumar Sinha and Prakash Man Singh Raut issued the interim order not to implement the parliamentary Constituency Infrastructure Development Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Considering the spirit of the constitution, the provision related to number 445 of the budget statement of the fiscal year 2023/24 and the provisions related to the parliamentary Constituency Infrastructure Development for the legislatures of all the seven provinces should not be implemented until the final hearing of this case,” reads the interim order issued on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget for the current fiscal year during a joint meeting of the House of Representatives and the National Assembly on May 29, Finance Minister Dr Prakash Sharan Mahat had mentioned that a budget of Rs 50 million has been set aside to implement infrastructure development programmes of the MPs in each constituency of the House of Representatives. Similarly, the state governments had also allocated budget to be spent on the plans recommended by the parliamentarians in the state assembly constituencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has also demanded a written response from the federal government and the state governments within 7 days in this regard.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has commented that Nepal has adopted a democratic governance system based on the principle of separation of powers and that it is not appropriate for legislators to use the executive powers of the federal cabinet and state cabinet. The apex court pointed out that giving MPs the right to choose plans and allocate budget would be counterproductive to the constitutional system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The order states: 'It seems that the main work of the federal and state legislatures will be legislative in nature. It does not appear that federal parliamentarians or provincial assembly members are given the responsibility to perform executive functions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has warned that there will be a conflict of interest if the parliamentarians exercise their executive powers on issues that are not recommended by the National Planning Commission or the Provincial Planning Commission or the related ministries. It is said in the order, “When the parliamentarian themselves allocate funds in the name of infrastructure development of the parliamentary constituency, there will be a conflict of interest.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Supreme Court has mentioned that the issue of transparency and accountability should be taken into consideration while spending government funds in such programmes.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Supreme, Court, Nepal, government, interim, order, writ, petition, constituency, infrastructure, development, fund, parliament, state, assembly, House, Representatives', 'description' => '', 'sortorder' => '18550', 'image' => '20230824112505_Supreme Court.jpg', 'article_date' => '2023-08-24 11:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18820', 'article_category_id' => '1', 'title' => 'Weather Likely to Improve by Saturday ', 'sub_title' => '', 'summary' => 'August 24: The monsoon rain is expected to persist for the next two to three days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: The monsoon rain is expected to persist for the next two to three days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, it will take a couple of days for the weather to improve. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sivision's senior meteorologist Barun Poudel said that the ongoing precipitation is anticipated to continue until Friday with chances of heavy rains at one or two places, particularly in Koshi, Bagmati, and Gandaki provinces. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">T<span style="font-family:"Arial Unicode MS","sans-serif"">he division stated that the weather is generally to mostly cloudy throughout the country today with the possibility of light to moderate rainfall at some places of the country. Likewise, heavy rain with thunder and lightning is expected at one or two places of Koshi, Bagmati, Gandaki, Lumbini and Sudur Pashchim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the weather will be mostly cloudy throughout the country tonight while light to moderate rainfall is likely to occur at many places of the country. Heavy rain with thunder and lightning may take place at one or two places of Koshi, Madesh, Bagmati, Gandaki and Lumbini provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18549', 'image' => '20230824104947_rain.jpeg', 'article_date' => '2023-08-24 10:48:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18835', 'article_category_id' => '1', 'title' => 'Micro Insurance Companies Issue Policies worth more than Rs 70 Million in a Month', 'sub_title' => '', 'summary' => 'August 25: Four micro insurance companies have issued insurance policies worth more than Rs 70 million in just one month. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 25: Four micro insurance companies have issued insurance policies worth more than Rs 70 million in just one month. According to the Nepal Insurance Authority, micro insurance companies issued insurance policies worth Rs 71.1 million in the month of Shrawan (mid-July to mid-August).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">On November 27 last year, the authority had issued licenses to seven micro insurance companies, including three micro life insurance companies and four micro non-life insurance companies. Four of them have already started their business.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Micro insurance companies provide insurance to marginalized and low-income communities in remote, rural and urban areas to mitigate future risks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the authority, two small life insurance companies issued 219 insurance policies worth Rs 633 million in the review month. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Guardian Micro Life Insurance Company issued 127 insurance policies and collected Rs 141,000 as first installment of insurance premium.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Similarly, Crest Micro Life Insurance Limited issued 92 insurance policies and collected Rs 64,000 insurance fee in first installment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the non-life insurance sector, two insurance companies issued three insurance policies worth Rs 8 million in the review month. Micro Insurance Company Limited collected Rs 10,000 as insurance premium.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chiranjeevi Nepal, chairman of the then Insurance Board (now Nepal Insurance Authority) said that micro insurance is a new concept in Nepal. According to Nepal, if the insurance authority separates the work by understanding the essence of the micro insurance companies according to international practice, the new micro insurance companies will help to further expand the scope of insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The authorities must study and make standards to separate the areas of life and non-life insurance companies that are operated by micro insurance companies. The central bank has also fixed the area where microfinance companies can work," he says. "If the authority also fixes the scope for micro insurance companies to work, these companies will be of more help in the development and expansion of the insurance sector."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chirayu Bhandari, Chief Executive Officer (CEO) of Guardian Micro Life Insurance, said that there is immense potential in micro insurance in Nepal. Guardian Micro has issued 127 insurance policies within 5-6 days of its operation,'' he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that since the main target group of micro insurance companies is the low-income group, awareness about micro insurance is necessary. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Bhandari, Guardian Micro Insurance Company has done all the necessary works to deliver services through the mobile app and therefore insurance policy can be purchased from anywhere at any time. Similarly, the company said they have made all the works paperless to facilitate the service for the insured.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18564', 'image' => '20230825022412_Insurance.jpg', 'article_date' => '2023-08-25 14:23:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18834', 'article_category_id' => '1', 'title' => 'Ropeway Brings Cheers to Farmers in Rukum East ', 'sub_title' => '', 'summary' => 'August 25: Farmers of Bhume Rural Municipality ward no 4 and 8 in Rukum (East) are elated with the operation of a ropeway in their locality.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: Farmers of Bhume Rural Municipality ward no 4 and 8 in Rukum (East) are elated with the operation of a ropeway in their locality. This transport facility is considerably facilitating the farmers in getting market for their domestic produces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 1,144 metres- ropeway installed and operated by the Gravity Goods Ropeway in these two wards ferry vegetables and fruits to and fro in no time. Dhan Bahadur Budha, a farmer of Kuchibang, recalled that earlier it would take them some three to four hours of walk to reach Kandabagar from Kuchibang with their produces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"With the operation of the ropeway, it just takes two minutes on average," he gushed. The ropeway has saved their time and brought convenience for the people of the villages that do not have access to roads yet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Road track has been opened in Kuchibang recently. However, vehicles do not ply the track, bemoaned Budha. Khabang, Rukumkot among others are the nearest market for the produces grown in these areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jhalak Roka, another farmer from Kuchibang, admitted that he had not considered vegetable farming given the inconvenience they had been facing in reaching the marketplaces. But, due to the operation of ropeway, he admitted that many farmers like him have taken up commercial farming of vegetables such as cabbages, carrot and cucumber, among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kuchibang has favorable soil for vegetable farming, especially the above-mentioned vegetables. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of 242 households at Kuchibang, Maibang, Jhimka and Handi among other places have been hugely benefited with the ropeway, according to Dilli Budhachettri, a local accountant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Besides farmers, the ropeway has been a great assistance for other purposes such as transporting food items related to the mid-day snacks for schools, admitted Budhachettri. The ropeway that connects Kuchibang and Kandabagar was built with the financial assistance of the UK Aid and other social organizations. The UK Aid provided over Rs 4.3 million and the remaining amount of Rs 500,000 was collected through locals as labour donation, informed Hom Prakash Shrestha, chairperson of Bhume Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plan is afoot to make Kuchibang a model agricultural village with the operation of the ropeway facilitating the farmers for their agricultural produces, according to Shrestha. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18563', 'image' => '20230825014947_hq720.jpg', 'article_date' => '2023-08-25 13:49:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18833', 'article_category_id' => '1', 'title' => 'Capital Gains Tax from Secondary Market Declines by Rs 250 Million in a Month', 'sub_title' => '', 'summary' => 'August 25: The capital gains tax (CGT) collected from investors in the securities market has decreased by more than Rs 248.1 million in the month of Shrawn (mid-July to mid-August) compared to the month of Asar (mid-June to mid-July) this year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 25: The capital gains tax (CGT) collected from investors in the securities market has decreased by more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">248.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million in the month of Shrawn (mid-July to mid-August) compared to the month of Asar (mid-June to mid-July) this year. According to the information provided by CDS and Clearing Limited (CDSC), the clearing house of securities transactions, the government collected capital gains tax of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9 million in mid-August against Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">649</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.49 million in mid-July.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Suresh Neupane, information officer of CDSC, said that the government collected CGT of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 million from institutional investors in mid-July to mid-August. According to Neupane, the government had collected CGT of more than Rs 134.7 million from institutional investors a month ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Institutional investors are required to pay </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent capital gains tax to the government when trading securities at a profit. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the government collects two types of capital gains tax from individual investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">CDSC spokesperson Neupane said that the government collected CGT of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">224</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.7 million from short term investments and more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">1.5 million from long term investments made by individual investors in mid-July to mid-August.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that a month ago, more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">359.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million were collected from short-term investors and more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">4.6 million from long-term investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the secondary market of securities, the number of individual investors is more than institutional investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Information officer of Nepal Stock Exchange (NEPSE) Murahari Parajuli said that more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million investors have traded in the secondary market of securities. According to Parajuli, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> investors are active in the business every day when the market is increasing, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">65,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are active on the day when the market is decreasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Lately, there is not much enthusiasm in the secondary market. Due to the increase in the trend of booking profits in a short period of time, the market has not been able to gain positive momentum. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Brokers say that as the market could not pick up pace, the investors were in a state of confusion and the transaction amount also decreased along with the market capitalization in the last one month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">When the capital gains tax paid by the investors who have made profit is reduced, it indicates that the income of the investors from the securities market has also reduced.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Leading investor Dambaru Ballabh Ghimire says that when the income of investors in the securities market increases, the income of the government will also increase. He says that investors like him, who have made this sector a source of income, are in trouble because the market is not gaining positive momentum. Ghimire, who has been active in the stock market for the past four decades, says that long-term investors should not be disappointed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Admitting that the market has a natural cycle of growth and decline, Ghimire emphasized on the development of the market so that the income of the investors does not decrease.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government also seems to have a special interest in the development of this sector. Recently, the government has tried to diversify the market by approving the seventh amendment proposal of the Securities Registration and Issuance Regulations in order to develop the securities market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even the Securities Board of Nepal, the regulatory body of the securities market, is emphasizing on policy reforms keeping in mind the interests of the investors. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18562', 'image' => '20230825010116_1692935579.jpg', 'article_date' => '2023-08-25 13:00:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18832', 'article_category_id' => '1', 'title' => 'Inflation, Covid Pushed Nearly 70 Million Asians into Extreme Poverty: ADB ', 'sub_title' => '', 'summary' => 'August 25: Soaring food and fuel prices and the coronavirus pandemic pushed nearly 70 million more people in developing Asia into extreme poverty last year, the Asian Development Bank said in a report released Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: Soaring food and fuel prices and the coronavirus pandemic pushed nearly 70 million more people in developing Asia into extreme poverty last year, the Asian Development Bank said in a report released Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Manila-based lender defines extreme poverty as living on less than $2.15 a day based on inflation-adjusted 2017 prices. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Asia and the Pacific is steadily recovering from the Covid-19 pandemic, but the increased cost-of-living crisis is undermining progress toward eliminating poverty," ADB chief economist Albert Park said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bank said an estimated 155.2 million people, or 3.9 percent of the region's population, were living in extreme poverty in 2022 -- 67.8 million more than would have been without the pandemic and higher living costs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Developing Asia refers to the multilateral lender's 46 emerging member economies, stretching from Kazakhstan in Central Asia to the Cook Islands in the Pacific. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poor people have been hurt the most by higher inflation as they are less able to pay higher prices for necessities, leaving many unable to save money, pay for healthcare or invest in education, the report said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ADB estimated that the pandemic pushed 75-80 million more people into extreme poverty in 2020, compared to its pre-pandemic projections. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In July, the bank said that it expects inflation to ease to 3.6 percent this year -- from 4.4 percent in 2022 -- as food and fuel prices softened. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While developing Asian economies should continue to make progress against poverty, an estimated 1.26 billion people, or about 30 percent of the region's projected population by 2030, will still be considered "economically vulnerable", it said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The term refers to a person living on $3.65 to $6.85 a day based on 2017 prices. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => 'Inflation, poverty, extreme, Covid, ADB, Asian, development, bank', 'description' => '', 'sortorder' => '18561', 'image' => '20230825120643_adbb.jpg', 'article_date' => '2023-08-25 12:06:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18831', 'article_category_id' => '1', 'title' => 'Wagner Boss Presumed Dead in Russia Plane Crash ', 'sub_title' => '', 'summary' => 'August 25: A day after a plane crash that presumably killed Russia's infamous mercenary boss Yevgeny Prigozhin and all other nine people on board, Russian President Vladimir was still silent on the incident on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: A day after a plane crash that presumably killed Russia's infamous mercenary boss Yevgeny Prigozhin and all other nine people on board, Russian President Vladimir was still silent on the incident on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash on Wednesday evening took place exactly two months after Prigozhin led a rebellion against Moscow's top military brass, in the biggest threat to Putin's long rule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moscow opened a probe into violations of air traffic rules but investigators have been mute since, and speculation of a possible assassination is rife. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ukraine denied involvement, with President Volodymyr Zelensky saying: "We have nothing to do with this situation, that's for sure." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I think everyone knows who this concerns," Zelensky said, in an apparent reference to Putin. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moscow had still not officially confirmed the death of the 62-year-old warlord, saying only that he was listed as a passenger on the flight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the Wagner rebellion on June 23-24, Putin gave an address to Russians in which he called Prigozhin -- once his ally -- a "traitor", and warned against "civil war". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prigozhin had spent months launching scathing attacks on the way Moscow led its Ukraine offensive before his 48-hour mutiny shook Putin's rule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many were surprised when Moscow then dropped charges against Prigozhin and allowed him to go into exile in Belarus. </span><br /> <br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Literally falls from the sky'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some Western leaders questioned if the crash was an accident. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">US President Joe Biden said he did not know what happened but added: "There's not much that happens in Russia that Putin's not behind." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France saw "reasonable doubts" about the crash and Germany said it followed a pattern of "unclarified" fatalities in Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">German Foreign Minister Annalena Baerbock appeared to say it was suspicious that "a disgraced former confidant of Putin suddenly, literally falls from the sky two months after he attempted a mutiny". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even influential pro-Kremlin figures, such as state television personality and Putin ally Margarita Simonyan, seemed to suggest that it could have been an assassination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Among the versions that are being discussed (about the crash) is that it was staged. But personally, I'm leaning towards the more obvious one," she said on social media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his long year rule, opponents of Putin have disappeared in mysterious circumstances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Russia's aviation authority published the names of the people on board the Embraer private jet late on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It included Prigozhin and his right-hand man, Dmitry Utkin, a shadowy figure who managed Wagner's operations and allegedly served in Russian military intelligence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Russian police patrolled the crash site near the village of Kuzhenkino, some 350 kilometres (220 miles) north of Moscow in the Tver region. Some masked men carried rifles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A woman living near Kuzhenkino said her neighbour heard a roar and saw "sparkling from the plane", accompanied by fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"A neighbour ran up to me with shaking hands and when we went to the window I saw only one mushroom (a cloud from the explosion), a black cloud," she said in video published by state-run agency RIA Novosti. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Real patriot'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Video verified by AFP from the scene appeared to show the Embraer Legacy plane engulfed in a plume-like column of white smoke as it fell from the sky. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Flightradar24 tracker website said the plane flying from Moscow to Saint Peterburg appeared on their radar until the last 30 seconds and descended "dramatically" at around 15:20 GMT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some Wagner-linked Telegram channels had initially suggested that the plane was shot down by Russian air defence, on a day when Kyiv struck Russia with more drone attacks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While he publicly challenged Moscow's authority, Prigozhin appeared to enjoy some popularity in Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He appealed to nationalist-leaning Russians -- also suspicious of the army leadership during the Ukraine offensive -- who embraced his tough-guy speak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some even speculated that he would take part in the 2024 presidential election, which is expected to extend Putin's rule until at least 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"He was one of the few real patriots in our country," Pavel Zakharov said as he laid flowers at Wagner's headquarters in Saint Petersburg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many Russians eagerly awaited Prigozhin's outspoken social media videos, often full of swear words and a sharp contrast to the tightly controlled narrative of Russian officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Everyone was always waiting (for) what Uncle Zhenia would say," Igor, who also paid his respects to the crash victims, told AFP, referring to Prigozhin by the diminutive of his first name. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Ukrainians hope death 'true'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But some feared that Prigozhin's death would raise tensions within Russian society. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I hope it will not become for our society some kind of red rag to a bull," Natalia, a woman who came to the Wagner Saint Petersburg HQ said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagner offices were still operating and even recruiting in Russia after Prigozhin's rebellion, which saw his men take over a military headquarters in the southern city of Rostov-on-Don and march on Moscow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Siberia, a region from where Wagner recruited heavily, people also laid flowers at the mercenary company's office in Novosibirsk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But in Ukraine, where Wagner fighters were known for their exceptional brutality -- including extrajudicial killings of their own men -- many welcomed the news of Prigozhin's likely end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The warlord had recruited tens of thousands of Russian convicts to fight in Ukraine, often thrown at the forefront of battles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I feel really happy that this person died, if it is true," government worker Iryna Kuchina told AFP in central Kyiv. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Let's hope that it is." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagner's future without Prigozhin -- including its involvement in African conflicts -- remained unclear. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The shady businessman's fate had been under question for two months, since the unusual deal with Minsk in which the Kremlin "guaranteed" he would be allowed to live in Belarus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minsk has for weeks played up the presence of the Russian fighters on its territory, saying it had set up camps for them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is not yet clear what will happen to the Belarus-based fighters. -- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18560', 'image' => '20230825112900_AP23236663202790.jpg', 'article_date' => '2023-08-25 11:28:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18830', 'article_category_id' => '1', 'title' => '265 tons of Onions Arrive at Kalimati; Price Likely to Stabilize', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 25: A total of 265 tons of onions have been brought to Kalimati in the last two days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Binay Shrestha, the spokesperson of the Kalimati Vegetable and Fruit Development Committee, 265 tons of onions were brought on Wednesday and Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal had experienced shortage of onions since Sunday after India imposed 40% tariff on the onion export as onion import was stopped. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee had not fixed the prices of onions citing scarcity of onions on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Committee Spokesperson Shrestha mentioned that price of onions was not fixed as Kalimati market did not have onions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the arrival of onions into the market since Wednesday, supply of the onions has become easy, and regular. “The supply of the onions has become normal in the market,” said spokesperson Shrestha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Onions were priced in the market from a minimum of Rs 75 to a maximum of Rs 80 per kilogram on Thursday. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, small traders have reportedly sold for up to Rs 105 per kilogram, according to consumers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The price of onions will stabilize from now, Shrestha said. </span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18559', 'image' => '20230825060841_collage.jpg', 'article_date' => '2023-08-25 06:06:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18829', 'article_category_id' => '1', 'title' => 'Flights Disrupted in Karnali Province for Two Days', 'sub_title' => '', 'summary' => 'Bad weather has disrupted flights in Karnali Province for the past two days. Continuous rainfall has led to flight cancellations to and from key airports such as Juphal in Dolpa, Simkot in Humla, and Talcha in Mugu.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 24: Bad weather has disrupted flights in Karnali Province for the past two days.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Continuous rainfall has led to flight cancellations to and from key airports such as Juphal in Dolpa, Simkot in Humla, and Talcha in Mugu.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rajendra Thakulla, an engineer from Thulibheri Municipality in Dolpa, expressed his frustration as he remained stranded in Nepalgunj due to the flight disruptions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He bemoaned, "I've been waiting for the flight to operate for two days now. Bad weather has prevented me from flying to Dolpa, and road travel is also challenging."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The people living in these remote mountainous areas of the Karnali province heavily rely on air travel, primarily because most of the roads have been damaged by monsoon-related floods and landslides.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Unfortunately, unfavorable weather conditions have further compounded their transportation woes.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even though there is a road connection to Dolpa, traveling by road during the rainy season remains perilous, with rising water levels in rivers and streams posing significant risks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, Humla still lacks road connectivity, making it particularly vulnerable to disruptions in air travel. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18558', 'image' => '20230824053851_collage (5).jpg', 'article_date' => '2023-08-24 17:37:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18828', 'article_category_id' => '1', 'title' => 'NEPSE Index Falls After Two Days’ Gains', 'sub_title' => '', 'summary' => '', 'content' => '<p> </p> <p><span style="font-size:20px">August 24: </span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After experiencing two consecutive days of gains, the Nepal Stock Exchange (NEPSE) Index saw a decline on Thursday, the final trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The index, which had risen by 47 points in the preceding two trading days, experienced a loss of 31.52 points or 1.54%, closing at 2013.93 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market experts and analysts have attributed this downturn to the prevalence of short-term traders who tend to sell their stocks as soon as they secure a small profit, leading to a downward pressure on the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the day's trading session, a total of 275 different stocks were traded, resulting in a cumulative volume of 4,657,137 shares exchanged through 40,800 transactions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The total value of the shares traded amounted to Rs 1.55 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Soaltee Hotel Limited (SHL) emerged as the leader in turnover, with a substantial trading value of Rs. 7.87 crores and a closing market price of Rs. 455.10. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Molung Hydropower Company Limited (MHCL) experienced the highest decline of the day, losing 8.54%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Kutheli Bukhari Small Hydropower Limited (KBSH), which gained an impressive 9.99% and technically hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Across the board, all sub-indices ended the day in the negative territory, with the Finance Index suffering the most significant decline at 2.92%.</span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18557', 'image' => '20230824043840_collage (4).jpg', 'article_date' => '2023-08-24 16:37:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18827', 'article_category_id' => '1', 'title' => 'Locations of Special Economic Zones not Suitable: Study', 'sub_title' => '', 'summary' => 'August 24: The Special Economic Zone (SEZ) Authority last issued a notification on July 11 to lease the plots of SEZ located in Bhairawa and Simara for the establishment and operation of industries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 24: The Special Economic Zone (SEZ) Authority last issued a notification on July 11 to lease the plots of SEZ located in Bhairawa and Simara for the establishment and operation of industries. The same notification was issued earlier on April 30 as well. </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In two months, the authority made two public calls to businessmen to establish and operate industries in those newly-built facilities, but there was no encouraging response from the industrialists. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">A study conducted amid the reluctance of businessmen to join the SEZ has shown that the locations selected for the SEZ are not suitable. It is mentioned in the study report that both SEZs, which are partially operational, and those under construction are not in suitable locations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report on 'Special Economic Zones in Nepal: Current Situation, Problems and Effective Operation Measures', prepared by the Policy Research Foundation under the coordination of former Industry, Commerce and Supply Secretary Chandra Kumar Ghimire, states that the location selected for the SEZ is not suitable. The report added, "Location is one of the key factors that makes SEZs successful in the world.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">It has been mentioned in the report that the places selected for SEZ should be connected with roads and railways, dry ports, in addition to having transport and transit agreements with the nearest sea ports and within quick access to air cargo and international airports. However, the report points out that this is not the case in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Additional SEZs have been proposed in Jumla, Gorkha and Nuwakot. It has been mentioned in the report that these places are also not suitable for export promotion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report of the foundation shows that the subsidiary industries were not allowed to operate in the areas designated for the main industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Simara is named as garment SEZ. However, it has been made clear in the report that industries such as stitching, thread, cloth, embroidery, dyeing, fashion designing services, semi and fully skilled workers are not allowed to open schools for teaching skills.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report points that the current policies and procedures are not SEZ-friendly. The Forestry Act 2076, Environment Protection Act 2076, Labor Act 2074 and the procedures related to providing subsidies to exports have not given any due attention to the industries established in SEZ. Nepal Trade Integrated Strategy 2016 and Commercial Policy 2072 are also silent on the issue of industries to be established in those areas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Section 9 of the Electricity Distribution Regulations 2069 states that 11 KV or 33 KV feeders can be taken for more than one industry in a SEZ compound. However, the provision of providing electricity to industries there at subsidized rates has not been mentioned anywhere in the existing policies related to SEZ. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The reasons for the success of SEZ in other countries are also mentioned in the report. It states that the SEZ of other countries has been successful due to the location advantage and the country's macroeconomic situation, support for industrial investment, cost and trade volume and transaction value, the level of skill and the availability of human resources. Similarly, management and service quality, government policies, laws, regulations and political and government stability are mentioned as reasons for the success of SEZ.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the report, there are 5,383 SEZs worldwide. Out of them, there are 4046 SEZs in Asia alone. There are 173 SEZs in underdeveloped countries. The number of SEZs in neighboring India has reached 373.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'special economic zone, Simara, Bhairahawa, location, suitable, study, Nepal, world, policy', 'description' => '', 'sortorder' => '18556', 'image' => '20230824035708_sez simara.jpg', 'article_date' => '2023-08-24 15:54:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18826', 'article_category_id' => '1', 'title' => 'Vehicles Start Arriving at Chobhar Dry Port for Customs Clearance', 'sub_title' => '', 'summary' => 'August 24: The Nepal Intermodal Transport Development Committee has informed that there has been an increase in the number of new vehicles arriving at the Chobhar Dry Port for customs clearance. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 24: The Nepal Intermodal Transport Development Committee has informed that there has been an increase in the number of new vehicles arriving at the Chobhar Dry Port for customs clearance. New vehicles have started arriving at this port for customs clearance from June 29.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the committee, 49 vehicles have arrived at the port so far.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ashish Gajurel, executive director of the committee, informed New Business Age that the arrival of new vehicles has already started. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 44 cars of Sangrila Motors Pvt Ltd and five double-cab pickup vehicles of Jio Automobiles Pvt Ltd have arrived at the port for customs clearance. He said that those vehicles were brought to Chobhar from Birgunj Integrated Check Post.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gajurel said that they have started facilitating customs clearance of vehicles at the Chobhar Dry Port after discussing the matter with NADA Automobiles Dealers Association of Nepal several times. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the importers will be bringing more vehicles at the dry port in the coming days. In addition, he said, discussions are being held with other businessmen about bringing goods to Chobhar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The entry fee is free for freight vehicles and new vehicles coming for customs clearance at the dry port customs office. The committee said that the parking and warehouse fees have also been kept at a minimum. According to the committee, 176 containers and 49 vehicles have arrived at the port for customs clearance due to these facilities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee is optimistic that the port will be fully operational soon as there has been a continuous increase in the number of vehicles and containers arriving at this newly-built port.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Chobhar Dry Port was built with an investment of Rs 1.5 billion. It took three years to complete the construction of the dry port.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It was inaugurated by the then Prime Minister Sher Bahadur Deuba in March, 2022. The port is spread over an area of 220 ropanis. The dry port can hold 500 containers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such a large dry port was constructed in Chobhar to facilitate the import and export of goods to and from Kathmandu, the largest city of the country, as well as reduce congestion at major customs such as Birgunj, and Bhairahawa.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Chobhar, dry, port, customs, clearance, vehicles', 'description' => '', 'sortorder' => '18555', 'image' => '20230824034338_20230124115624_Chobhar Dy port.jpg', 'article_date' => '2023-08-24 15:42:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18825', 'article_category_id' => '1', 'title' => 'Saudi Arabia Requests for Substantive Proposal for Cooperation in Nepal's Infrastructure Development', 'sub_title' => '', 'summary' => 'August 24: Minister for Physical Infrastructure and Transport, Prakash Jwala, and Saudi Arabia's ambassador to Nepal, Saad Nasser Abdullah Abu Haimed, held a meeting on Wednesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: Minister for Physical Infrastructure and Transport, Prakash Jwala, and Saudi Arabia's ambassador to Nepal, Saad Nasser Abdullah Abu Haimed, held a meeting on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the two discussed issues related to infrastructure development and bilateral partnership in development projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Terming Saudi Arabia as one of the major employment destinations for Nepali citizens, the minister proposed for Saudi Arabia's partnership in Nepal’s infrastructure and transport sector as well. On the occasion, he said around 400,000 Nepalis are currently engaged in the labour market in Saudi Arabia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> "Nepal is being graduated from the category of the least developed countries by 2026," the Minister informed the Saudi Arabia envoy, insisting on further investment and bilateral cooperation in Nepal's infrastructure industry for the sustainability of such graduation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, Saudi Arabia’s ambassador said they were ready to cooperate with Nepal in infrastructure and transport sector, and requested Nepal for presenting a substantive proposal towards that end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Minister Jwala told the ambassador that Nepal had already decided to support Saudi Arabia's candidature for hosting World Expo- 2030. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18554', 'image' => '20230824032820_Flag-Pins-Nepal-Saudi-Arabia552f760893184_600x600.jpg', 'article_date' => '2023-08-24 15:27:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18824', 'article_category_id' => '1', 'title' => 'Return on Equity of 10 Development Banks Shrinks', 'sub_title' => '', 'summary' => 'August 24: The Return on Equity (ROE) or the return on investment of most of the development banks declined in the last fiscal year (FY) compared to the previous FY.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 24: The Return on Equity (ROE) or the return on investment of most of the development banks declined in the last fiscal year (FY) compared to the previous FY.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ROE of 10 out of 16 development banks listed in the Nepal Stock Exchange (NEPSE) decreased in the review year. Analysts consider that the decline in ROE as to the decrease in the return of shareholders who invested in banks and financial institutions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Return on equity (ROE) is a measure of financial performance of a company </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">which gives information about the rate at which investors can get returns from investments made in shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors analyze ROE to see if a company is consistently outperforming other companies in the same sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Equity is obtained by subtracting external liabilities (claims other than shareholders) from total assets. And mathematically, ROE is obtained by dividing net profit by total equity. The longer the company is giving good returns on equity, the better it is for investment. ROE is a measure of a company's ability to make a profit and how effectively it generates profit. Companies with high ROE are considered good for investment. When comparing ROE, it should be compared between companies in the same sector. Generally, investors who invest in any bank and financial institution expect to get a return of 15 to 20 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the profits earned by banks, ROE differentiates how much dividends are paid to the shareholders. According to the general principles of investment, the attraction of investors should decrease in areas where ROE decline, but it seems that the attraction of investors is more in the shares of development banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The main reason for this is that the volume (paid-up capital) is low. Looking at the recent trend of the stock market, when the market increases, the share price of companies with low paid-up capital increases unnaturally. This means that traders are doing more business in the shares of such companies. Therefore, the share price is increasing. Recently, the number of short-term investments is more than long-term investments. Investors do not pay much attention to the financial condition and dividends after getting returns in a short period of time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Highest ROE of Garima Development Bank</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Garima Development Bank has the highest ROE of 15.70 percent among the 16 development banks listed in NEPSE. Similarly, Muktinath Development Bank's ROE is 14.45 percent. Two of the 16 development banks, Saptakoshi Development Bank and Narayani Development Bank are in losses. Similarly, the lowest ROE is of Sindhu Bikas Bank at 2.13 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Corporate Development Bank's ROE is 2.43 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ten years ago, the ROE of Muktinath Bikas Bank was 25.59 percent, but in the year 2022/23, it dropped to 14.45 percent. Similarly, Garima Bikas Bank's ROE was 19.24 in the year 2012/13, while last year it dropped to 15.70 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Return on Equity, bank, profit, investors, NEPSE, share', 'description' => '', 'sortorder' => '18553', 'image' => '20230824024924_bankkkkkkk.jpg', 'article_date' => '2023-08-24 14:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18823', 'article_category_id' => '1', 'title' => 'Rice Shortage is Sending Prices Soaring across the World', 'sub_title' => '', 'summary' => 'August 24: Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. Prices for rice grown in Kenya soared a while ago because of higher fertilizer prices and a years-long drought in the Horn of Africa that has reduced production. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Cheap rice imported from India had filled the gap, feeding many of the hundreds of thousands of residents in Nairobi's Kibera slum who survive on less than $2 a day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But that is changing. The price of a 25-kilogram (55-pound) bag of rice has risen by about a fifth since June, going from the equivalent of about $14 to $18. Wholesalers are yet to receive new stocks since India, the world's largest exporter of rice by far, said last month that it would ban some rice shipments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It's an effort by the world’s most populous nation to control domestic prices ahead of a key election year - but it’s left a yawning gap of around 9.5 million metric tons (10.4 tons) of rice that people around the world need, roughly a fifth of global exports. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I’m really hoping the imports keep coming,” said Ndege, 51, who's sold rice for 30 years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He isn’t the only one. Global food security is already under threat since Russia halted an agreement allowing Ukraine to export wheat and the El Nino weather phenomenon hampers rice production. Now, rice prices are soaring - Vietnam’s rice export prices, for instance, have reached a 15-year high - putting the most vulnerable people in some of the poorest nations at risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The world is at an “inflection point," said Beau Damen, a natural resources officer with the U.N. Food and Agriculture Organization based in Bangkok. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even before India’s restrictions, countries already were frantically buying rice in anticipation of scarcity later when the El Nino hit, creating a supply crunch and spiking prices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">What could make the situation worse is if India’s ban on non-basmati rice creates a domino effect, with other countries following suit. Already, the United Arab Emirates has suspended rice exports to maintain its domestic stocks. Another threat is if extreme weather damages rice crops in other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An El Nino is a natural, temporary and occasional warming of part of the Pacific Ocean that shifts global weather patterns, and climate change is making them stronger. Scientists expect the one underway to expand to supersized levels, and, in the past, they have resulted in extreme weather ranging from drought to flooding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact would be felt worldwide. Rice consumption in Africa has been growing steadily, and most countries are heavily dependent on imports. While nations with growing populations like Senegal have been trying to grow more of their own rice - many are struggling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amadou Khan, a 52-year-old unemployed father of five in Dakar, says his children eat rice with every meal except breakfast, which they often have to skip when he's out of work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I am just getting by - sometimes, I’ve trouble taking care of my kids,” he said. Imported rice - 70% of which comes from India - has become prohibitively expensive in Senegal, so he's eating homegrown rice that costs two-thirds as much. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senegal will turn to other trading partners like Thailand or Cambodia for imports, though the West African country is not “far from being self-sufficient" on rice, with over half of its demand grown locally, Agriculture Ministry spokesperson Mamadou Aïcha Ndiaye said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Asian countries, where 90% of the world’s rice is grown and eaten, are struggling with production. The Philippines was carefully managing water in anticipation of less rain amid the El Nino when Typhoon Doksuri battered its northern rice-producing region, damaging $32 million worth of rice crops - an estimated 22% of its annual production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The archipelago nation is the second-largest importer of rice after China, and President Ferdinand Marcos Jr. has underscored the need to ensure adequate buffers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India’s rice restrictions also were motivated by erratic weather: An uneven monsoon along with a looming El Nino meant that the partial ban was needed to stop food prices from rising, Indian food policy expert Devinder Sharma said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The restrictions will take offline nearly half the country's usual rice exports this year, said Ashok Gulati of the Indian Council for Research on International Economic Relation. Repeated restrictions make India an unreliable exporter, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“That’s not good for the export business because it takes years to develop these markets,” Gulati said. Vietnam, another major rice exporter, is hoping to capitalize. With rice export prices at a 15-year high and expectations that annual production to be marginally higher than last year, the Southeast Asian nation is trying to keep domestic prices stable while boosting exports. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Agriculture Ministry says it's working to increase how much land in the Mekong Delta is dedicated to growing rice by around 500 square kilometers - an area larger than 90,000 football fields. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Already the Philippines is in talks with Vietnam to try to get the grain at lower prices, while Vietnam also looks to target the United Kingdom, which receives much of its rice from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But exporters like Charoen Laothamatas in neighboring Thailand are wary. The Thai government expects to ship more rice than it did last year, with its exports in the first six months of the year 15% higher than the same period of 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the lack of clarity about what India will do next and concerns about the El Nino means Thai exporters are reluctant to take orders, mill operators are unwilling to sell and farmers have increased the prices of unmilled rice, said Laothamatas, president of the Thai Rice Exporters Association. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With prices fluctuating, exporters don't know what prices to quote - because prices may spike again the next day. “And no one wants to take the risk,” Laothamatas said. – AP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'rice, price, soar, hike, India, export, ban, Africa, world', 'description' => '', 'sortorder' => '18552', 'image' => '20230824012334_ricee.jpg', 'article_date' => '2023-08-24 13:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18821', 'article_category_id' => '1', 'title' => 'SC Issues Interim Order not to Implement Constituency Infrastructure Development Fund', 'sub_title' => '', 'summary' => 'August 24: The Supreme Court has issued an interim order not to implement the infrastructure development programmes of the House of Representatives and all seven provincial assemblies mentioned in the budget of the current fiscal year (FY 2023/24).', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 24: The Supreme Court has issued an interim order not to implement the infrastructure development programmes of the House of Representatives and all seven provincial assemblies mentioned in the budget of the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Constitutional Bench of the Supreme Court issued the order on Wednesday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Responding to a writ petition filed by Advocate Trilok Bahadur Chand, the Constitutional Bench consisting of Chief Justice Bishwambhar Prasad Shrestha, justices Ishwar Prasad Khatiwada, Anand Mohan Bhattarai, Anil Kumar Sinha and Prakash Man Singh Raut issued the interim order not to implement the parliamentary Constituency Infrastructure Development Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Considering the spirit of the constitution, the provision related to number 445 of the budget statement of the fiscal year 2023/24 and the provisions related to the parliamentary Constituency Infrastructure Development for the legislatures of all the seven provinces should not be implemented until the final hearing of this case,” reads the interim order issued on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget for the current fiscal year during a joint meeting of the House of Representatives and the National Assembly on May 29, Finance Minister Dr Prakash Sharan Mahat had mentioned that a budget of Rs 50 million has been set aside to implement infrastructure development programmes of the MPs in each constituency of the House of Representatives. Similarly, the state governments had also allocated budget to be spent on the plans recommended by the parliamentarians in the state assembly constituencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has also demanded a written response from the federal government and the state governments within 7 days in this regard.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has commented that Nepal has adopted a democratic governance system based on the principle of separation of powers and that it is not appropriate for legislators to use the executive powers of the federal cabinet and state cabinet. The apex court pointed out that giving MPs the right to choose plans and allocate budget would be counterproductive to the constitutional system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The order states: 'It seems that the main work of the federal and state legislatures will be legislative in nature. It does not appear that federal parliamentarians or provincial assembly members are given the responsibility to perform executive functions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has warned that there will be a conflict of interest if the parliamentarians exercise their executive powers on issues that are not recommended by the National Planning Commission or the Provincial Planning Commission or the related ministries. It is said in the order, “When the parliamentarian themselves allocate funds in the name of infrastructure development of the parliamentary constituency, there will be a conflict of interest.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Supreme Court has mentioned that the issue of transparency and accountability should be taken into consideration while spending government funds in such programmes.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Supreme, Court, Nepal, government, interim, order, writ, petition, constituency, infrastructure, development, fund, parliament, state, assembly, House, Representatives', 'description' => '', 'sortorder' => '18550', 'image' => '20230824112505_Supreme Court.jpg', 'article_date' => '2023-08-24 11:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18820', 'article_category_id' => '1', 'title' => 'Weather Likely to Improve by Saturday ', 'sub_title' => '', 'summary' => 'August 24: The monsoon rain is expected to persist for the next two to three days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: The monsoon rain is expected to persist for the next two to three days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, it will take a couple of days for the weather to improve. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sivision's senior meteorologist Barun Poudel said that the ongoing precipitation is anticipated to continue until Friday with chances of heavy rains at one or two places, particularly in Koshi, Bagmati, and Gandaki provinces. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">T<span style="font-family:"Arial Unicode MS","sans-serif"">he division stated that the weather is generally to mostly cloudy throughout the country today with the possibility of light to moderate rainfall at some places of the country. Likewise, heavy rain with thunder and lightning is expected at one or two places of Koshi, Bagmati, Gandaki, Lumbini and Sudur Pashchim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the weather will be mostly cloudy throughout the country tonight while light to moderate rainfall is likely to occur at many places of the country. Heavy rain with thunder and lightning may take place at one or two places of Koshi, Madesh, Bagmati, Gandaki and Lumbini provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18549', 'image' => '20230824104947_rain.jpeg', 'article_date' => '2023-08-24 10:48:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18835', 'article_category_id' => '1', 'title' => 'Micro Insurance Companies Issue Policies worth more than Rs 70 Million in a Month', 'sub_title' => '', 'summary' => 'August 25: Four micro insurance companies have issued insurance policies worth more than Rs 70 million in just one month. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 25: Four micro insurance companies have issued insurance policies worth more than Rs 70 million in just one month. According to the Nepal Insurance Authority, micro insurance companies issued insurance policies worth Rs 71.1 million in the month of Shrawan (mid-July to mid-August).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">On November 27 last year, the authority had issued licenses to seven micro insurance companies, including three micro life insurance companies and four micro non-life insurance companies. Four of them have already started their business.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Micro insurance companies provide insurance to marginalized and low-income communities in remote, rural and urban areas to mitigate future risks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the authority, two small life insurance companies issued 219 insurance policies worth Rs 633 million in the review month. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Guardian Micro Life Insurance Company issued 127 insurance policies and collected Rs 141,000 as first installment of insurance premium.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Similarly, Crest Micro Life Insurance Limited issued 92 insurance policies and collected Rs 64,000 insurance fee in first installment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the non-life insurance sector, two insurance companies issued three insurance policies worth Rs 8 million in the review month. Micro Insurance Company Limited collected Rs 10,000 as insurance premium.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chiranjeevi Nepal, chairman of the then Insurance Board (now Nepal Insurance Authority) said that micro insurance is a new concept in Nepal. According to Nepal, if the insurance authority separates the work by understanding the essence of the micro insurance companies according to international practice, the new micro insurance companies will help to further expand the scope of insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The authorities must study and make standards to separate the areas of life and non-life insurance companies that are operated by micro insurance companies. The central bank has also fixed the area where microfinance companies can work," he says. "If the authority also fixes the scope for micro insurance companies to work, these companies will be of more help in the development and expansion of the insurance sector."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chirayu Bhandari, Chief Executive Officer (CEO) of Guardian Micro Life Insurance, said that there is immense potential in micro insurance in Nepal. Guardian Micro has issued 127 insurance policies within 5-6 days of its operation,'' he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that since the main target group of micro insurance companies is the low-income group, awareness about micro insurance is necessary. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Bhandari, Guardian Micro Insurance Company has done all the necessary works to deliver services through the mobile app and therefore insurance policy can be purchased from anywhere at any time. Similarly, the company said they have made all the works paperless to facilitate the service for the insured.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18564', 'image' => '20230825022412_Insurance.jpg', 'article_date' => '2023-08-25 14:23:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18834', 'article_category_id' => '1', 'title' => 'Ropeway Brings Cheers to Farmers in Rukum East ', 'sub_title' => '', 'summary' => 'August 25: Farmers of Bhume Rural Municipality ward no 4 and 8 in Rukum (East) are elated with the operation of a ropeway in their locality.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: Farmers of Bhume Rural Municipality ward no 4 and 8 in Rukum (East) are elated with the operation of a ropeway in their locality. This transport facility is considerably facilitating the farmers in getting market for their domestic produces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 1,144 metres- ropeway installed and operated by the Gravity Goods Ropeway in these two wards ferry vegetables and fruits to and fro in no time. Dhan Bahadur Budha, a farmer of Kuchibang, recalled that earlier it would take them some three to four hours of walk to reach Kandabagar from Kuchibang with their produces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"With the operation of the ropeway, it just takes two minutes on average," he gushed. The ropeway has saved their time and brought convenience for the people of the villages that do not have access to roads yet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Road track has been opened in Kuchibang recently. However, vehicles do not ply the track, bemoaned Budha. Khabang, Rukumkot among others are the nearest market for the produces grown in these areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jhalak Roka, another farmer from Kuchibang, admitted that he had not considered vegetable farming given the inconvenience they had been facing in reaching the marketplaces. But, due to the operation of ropeway, he admitted that many farmers like him have taken up commercial farming of vegetables such as cabbages, carrot and cucumber, among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kuchibang has favorable soil for vegetable farming, especially the above-mentioned vegetables. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of 242 households at Kuchibang, Maibang, Jhimka and Handi among other places have been hugely benefited with the ropeway, according to Dilli Budhachettri, a local accountant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Besides farmers, the ropeway has been a great assistance for other purposes such as transporting food items related to the mid-day snacks for schools, admitted Budhachettri. The ropeway that connects Kuchibang and Kandabagar was built with the financial assistance of the UK Aid and other social organizations. The UK Aid provided over Rs 4.3 million and the remaining amount of Rs 500,000 was collected through locals as labour donation, informed Hom Prakash Shrestha, chairperson of Bhume Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plan is afoot to make Kuchibang a model agricultural village with the operation of the ropeway facilitating the farmers for their agricultural produces, according to Shrestha. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18563', 'image' => '20230825014947_hq720.jpg', 'article_date' => '2023-08-25 13:49:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18833', 'article_category_id' => '1', 'title' => 'Capital Gains Tax from Secondary Market Declines by Rs 250 Million in a Month', 'sub_title' => '', 'summary' => 'August 25: The capital gains tax (CGT) collected from investors in the securities market has decreased by more than Rs 248.1 million in the month of Shrawn (mid-July to mid-August) compared to the month of Asar (mid-June to mid-July) this year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 25: The capital gains tax (CGT) collected from investors in the securities market has decreased by more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">248.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million in the month of Shrawn (mid-July to mid-August) compared to the month of Asar (mid-June to mid-July) this year. According to the information provided by CDS and Clearing Limited (CDSC), the clearing house of securities transactions, the government collected capital gains tax of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9 million in mid-August against Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">649</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.49 million in mid-July.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Suresh Neupane, information officer of CDSC, said that the government collected CGT of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 million from institutional investors in mid-July to mid-August. According to Neupane, the government had collected CGT of more than Rs 134.7 million from institutional investors a month ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Institutional investors are required to pay </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent capital gains tax to the government when trading securities at a profit. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the government collects two types of capital gains tax from individual investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">CDSC spokesperson Neupane said that the government collected CGT of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">224</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.7 million from short term investments and more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">1.5 million from long term investments made by individual investors in mid-July to mid-August.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that a month ago, more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">359.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million were collected from short-term investors and more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">4.6 million from long-term investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the secondary market of securities, the number of individual investors is more than institutional investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Information officer of Nepal Stock Exchange (NEPSE) Murahari Parajuli said that more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million investors have traded in the secondary market of securities. According to Parajuli, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> investors are active in the business every day when the market is increasing, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">65,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are active on the day when the market is decreasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Lately, there is not much enthusiasm in the secondary market. Due to the increase in the trend of booking profits in a short period of time, the market has not been able to gain positive momentum. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Brokers say that as the market could not pick up pace, the investors were in a state of confusion and the transaction amount also decreased along with the market capitalization in the last one month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">When the capital gains tax paid by the investors who have made profit is reduced, it indicates that the income of the investors from the securities market has also reduced.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Leading investor Dambaru Ballabh Ghimire says that when the income of investors in the securities market increases, the income of the government will also increase. He says that investors like him, who have made this sector a source of income, are in trouble because the market is not gaining positive momentum. Ghimire, who has been active in the stock market for the past four decades, says that long-term investors should not be disappointed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Admitting that the market has a natural cycle of growth and decline, Ghimire emphasized on the development of the market so that the income of the investors does not decrease.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government also seems to have a special interest in the development of this sector. Recently, the government has tried to diversify the market by approving the seventh amendment proposal of the Securities Registration and Issuance Regulations in order to develop the securities market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even the Securities Board of Nepal, the regulatory body of the securities market, is emphasizing on policy reforms keeping in mind the interests of the investors. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18562', 'image' => '20230825010116_1692935579.jpg', 'article_date' => '2023-08-25 13:00:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18832', 'article_category_id' => '1', 'title' => 'Inflation, Covid Pushed Nearly 70 Million Asians into Extreme Poverty: ADB ', 'sub_title' => '', 'summary' => 'August 25: Soaring food and fuel prices and the coronavirus pandemic pushed nearly 70 million more people in developing Asia into extreme poverty last year, the Asian Development Bank said in a report released Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: Soaring food and fuel prices and the coronavirus pandemic pushed nearly 70 million more people in developing Asia into extreme poverty last year, the Asian Development Bank said in a report released Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Manila-based lender defines extreme poverty as living on less than $2.15 a day based on inflation-adjusted 2017 prices. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Asia and the Pacific is steadily recovering from the Covid-19 pandemic, but the increased cost-of-living crisis is undermining progress toward eliminating poverty," ADB chief economist Albert Park said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bank said an estimated 155.2 million people, or 3.9 percent of the region's population, were living in extreme poverty in 2022 -- 67.8 million more than would have been without the pandemic and higher living costs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Developing Asia refers to the multilateral lender's 46 emerging member economies, stretching from Kazakhstan in Central Asia to the Cook Islands in the Pacific. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poor people have been hurt the most by higher inflation as they are less able to pay higher prices for necessities, leaving many unable to save money, pay for healthcare or invest in education, the report said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ADB estimated that the pandemic pushed 75-80 million more people into extreme poverty in 2020, compared to its pre-pandemic projections. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In July, the bank said that it expects inflation to ease to 3.6 percent this year -- from 4.4 percent in 2022 -- as food and fuel prices softened. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While developing Asian economies should continue to make progress against poverty, an estimated 1.26 billion people, or about 30 percent of the region's projected population by 2030, will still be considered "economically vulnerable", it said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The term refers to a person living on $3.65 to $6.85 a day based on 2017 prices. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => 'Inflation, poverty, extreme, Covid, ADB, Asian, development, bank', 'description' => '', 'sortorder' => '18561', 'image' => '20230825120643_adbb.jpg', 'article_date' => '2023-08-25 12:06:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18831', 'article_category_id' => '1', 'title' => 'Wagner Boss Presumed Dead in Russia Plane Crash ', 'sub_title' => '', 'summary' => 'August 25: A day after a plane crash that presumably killed Russia's infamous mercenary boss Yevgeny Prigozhin and all other nine people on board, Russian President Vladimir was still silent on the incident on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: A day after a plane crash that presumably killed Russia's infamous mercenary boss Yevgeny Prigozhin and all other nine people on board, Russian President Vladimir was still silent on the incident on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash on Wednesday evening took place exactly two months after Prigozhin led a rebellion against Moscow's top military brass, in the biggest threat to Putin's long rule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moscow opened a probe into violations of air traffic rules but investigators have been mute since, and speculation of a possible assassination is rife. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ukraine denied involvement, with President Volodymyr Zelensky saying: "We have nothing to do with this situation, that's for sure." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I think everyone knows who this concerns," Zelensky said, in an apparent reference to Putin. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moscow had still not officially confirmed the death of the 62-year-old warlord, saying only that he was listed as a passenger on the flight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the Wagner rebellion on June 23-24, Putin gave an address to Russians in which he called Prigozhin -- once his ally -- a "traitor", and warned against "civil war". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prigozhin had spent months launching scathing attacks on the way Moscow led its Ukraine offensive before his 48-hour mutiny shook Putin's rule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many were surprised when Moscow then dropped charges against Prigozhin and allowed him to go into exile in Belarus. </span><br /> <br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Literally falls from the sky'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some Western leaders questioned if the crash was an accident. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">US President Joe Biden said he did not know what happened but added: "There's not much that happens in Russia that Putin's not behind." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France saw "reasonable doubts" about the crash and Germany said it followed a pattern of "unclarified" fatalities in Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">German Foreign Minister Annalena Baerbock appeared to say it was suspicious that "a disgraced former confidant of Putin suddenly, literally falls from the sky two months after he attempted a mutiny". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even influential pro-Kremlin figures, such as state television personality and Putin ally Margarita Simonyan, seemed to suggest that it could have been an assassination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Among the versions that are being discussed (about the crash) is that it was staged. But personally, I'm leaning towards the more obvious one," she said on social media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his long year rule, opponents of Putin have disappeared in mysterious circumstances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Russia's aviation authority published the names of the people on board the Embraer private jet late on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It included Prigozhin and his right-hand man, Dmitry Utkin, a shadowy figure who managed Wagner's operations and allegedly served in Russian military intelligence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Russian police patrolled the crash site near the village of Kuzhenkino, some 350 kilometres (220 miles) north of Moscow in the Tver region. Some masked men carried rifles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A woman living near Kuzhenkino said her neighbour heard a roar and saw "sparkling from the plane", accompanied by fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"A neighbour ran up to me with shaking hands and when we went to the window I saw only one mushroom (a cloud from the explosion), a black cloud," she said in video published by state-run agency RIA Novosti. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Real patriot'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Video verified by AFP from the scene appeared to show the Embraer Legacy plane engulfed in a plume-like column of white smoke as it fell from the sky. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Flightradar24 tracker website said the plane flying from Moscow to Saint Peterburg appeared on their radar until the last 30 seconds and descended "dramatically" at around 15:20 GMT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some Wagner-linked Telegram channels had initially suggested that the plane was shot down by Russian air defence, on a day when Kyiv struck Russia with more drone attacks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While he publicly challenged Moscow's authority, Prigozhin appeared to enjoy some popularity in Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He appealed to nationalist-leaning Russians -- also suspicious of the army leadership during the Ukraine offensive -- who embraced his tough-guy speak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some even speculated that he would take part in the 2024 presidential election, which is expected to extend Putin's rule until at least 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"He was one of the few real patriots in our country," Pavel Zakharov said as he laid flowers at Wagner's headquarters in Saint Petersburg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many Russians eagerly awaited Prigozhin's outspoken social media videos, often full of swear words and a sharp contrast to the tightly controlled narrative of Russian officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Everyone was always waiting (for) what Uncle Zhenia would say," Igor, who also paid his respects to the crash victims, told AFP, referring to Prigozhin by the diminutive of his first name. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Ukrainians hope death 'true'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But some feared that Prigozhin's death would raise tensions within Russian society. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I hope it will not become for our society some kind of red rag to a bull," Natalia, a woman who came to the Wagner Saint Petersburg HQ said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagner offices were still operating and even recruiting in Russia after Prigozhin's rebellion, which saw his men take over a military headquarters in the southern city of Rostov-on-Don and march on Moscow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Siberia, a region from where Wagner recruited heavily, people also laid flowers at the mercenary company's office in Novosibirsk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But in Ukraine, where Wagner fighters were known for their exceptional brutality -- including extrajudicial killings of their own men -- many welcomed the news of Prigozhin's likely end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The warlord had recruited tens of thousands of Russian convicts to fight in Ukraine, often thrown at the forefront of battles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I feel really happy that this person died, if it is true," government worker Iryna Kuchina told AFP in central Kyiv. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Let's hope that it is." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagner's future without Prigozhin -- including its involvement in African conflicts -- remained unclear. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The shady businessman's fate had been under question for two months, since the unusual deal with Minsk in which the Kremlin "guaranteed" he would be allowed to live in Belarus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minsk has for weeks played up the presence of the Russian fighters on its territory, saying it had set up camps for them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is not yet clear what will happen to the Belarus-based fighters. -- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18560', 'image' => '20230825112900_AP23236663202790.jpg', 'article_date' => '2023-08-25 11:28:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18830', 'article_category_id' => '1', 'title' => '265 tons of Onions Arrive at Kalimati; Price Likely to Stabilize', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 25: A total of 265 tons of onions have been brought to Kalimati in the last two days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Binay Shrestha, the spokesperson of the Kalimati Vegetable and Fruit Development Committee, 265 tons of onions were brought on Wednesday and Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal had experienced shortage of onions since Sunday after India imposed 40% tariff on the onion export as onion import was stopped. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee had not fixed the prices of onions citing scarcity of onions on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Committee Spokesperson Shrestha mentioned that price of onions was not fixed as Kalimati market did not have onions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the arrival of onions into the market since Wednesday, supply of the onions has become easy, and regular. “The supply of the onions has become normal in the market,” said spokesperson Shrestha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Onions were priced in the market from a minimum of Rs 75 to a maximum of Rs 80 per kilogram on Thursday. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, small traders have reportedly sold for up to Rs 105 per kilogram, according to consumers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The price of onions will stabilize from now, Shrestha said. </span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18559', 'image' => '20230825060841_collage.jpg', 'article_date' => '2023-08-25 06:06:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18829', 'article_category_id' => '1', 'title' => 'Flights Disrupted in Karnali Province for Two Days', 'sub_title' => '', 'summary' => 'Bad weather has disrupted flights in Karnali Province for the past two days. Continuous rainfall has led to flight cancellations to and from key airports such as Juphal in Dolpa, Simkot in Humla, and Talcha in Mugu.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 24: Bad weather has disrupted flights in Karnali Province for the past two days.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Continuous rainfall has led to flight cancellations to and from key airports such as Juphal in Dolpa, Simkot in Humla, and Talcha in Mugu.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rajendra Thakulla, an engineer from Thulibheri Municipality in Dolpa, expressed his frustration as he remained stranded in Nepalgunj due to the flight disruptions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He bemoaned, "I've been waiting for the flight to operate for two days now. Bad weather has prevented me from flying to Dolpa, and road travel is also challenging."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The people living in these remote mountainous areas of the Karnali province heavily rely on air travel, primarily because most of the roads have been damaged by monsoon-related floods and landslides.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Unfortunately, unfavorable weather conditions have further compounded their transportation woes.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even though there is a road connection to Dolpa, traveling by road during the rainy season remains perilous, with rising water levels in rivers and streams posing significant risks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, Humla still lacks road connectivity, making it particularly vulnerable to disruptions in air travel. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18558', 'image' => '20230824053851_collage (5).jpg', 'article_date' => '2023-08-24 17:37:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18828', 'article_category_id' => '1', 'title' => 'NEPSE Index Falls After Two Days’ Gains', 'sub_title' => '', 'summary' => '', 'content' => '<p> </p> <p><span style="font-size:20px">August 24: </span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After experiencing two consecutive days of gains, the Nepal Stock Exchange (NEPSE) Index saw a decline on Thursday, the final trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The index, which had risen by 47 points in the preceding two trading days, experienced a loss of 31.52 points or 1.54%, closing at 2013.93 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market experts and analysts have attributed this downturn to the prevalence of short-term traders who tend to sell their stocks as soon as they secure a small profit, leading to a downward pressure on the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the day's trading session, a total of 275 different stocks were traded, resulting in a cumulative volume of 4,657,137 shares exchanged through 40,800 transactions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The total value of the shares traded amounted to Rs 1.55 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Soaltee Hotel Limited (SHL) emerged as the leader in turnover, with a substantial trading value of Rs. 7.87 crores and a closing market price of Rs. 455.10. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Molung Hydropower Company Limited (MHCL) experienced the highest decline of the day, losing 8.54%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Kutheli Bukhari Small Hydropower Limited (KBSH), which gained an impressive 9.99% and technically hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Across the board, all sub-indices ended the day in the negative territory, with the Finance Index suffering the most significant decline at 2.92%.</span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18557', 'image' => '20230824043840_collage (4).jpg', 'article_date' => '2023-08-24 16:37:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18827', 'article_category_id' => '1', 'title' => 'Locations of Special Economic Zones not Suitable: Study', 'sub_title' => '', 'summary' => 'August 24: The Special Economic Zone (SEZ) Authority last issued a notification on July 11 to lease the plots of SEZ located in Bhairawa and Simara for the establishment and operation of industries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 24: The Special Economic Zone (SEZ) Authority last issued a notification on July 11 to lease the plots of SEZ located in Bhairawa and Simara for the establishment and operation of industries. The same notification was issued earlier on April 30 as well. </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In two months, the authority made two public calls to businessmen to establish and operate industries in those newly-built facilities, but there was no encouraging response from the industrialists. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">A study conducted amid the reluctance of businessmen to join the SEZ has shown that the locations selected for the SEZ are not suitable. It is mentioned in the study report that both SEZs, which are partially operational, and those under construction are not in suitable locations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report on 'Special Economic Zones in Nepal: Current Situation, Problems and Effective Operation Measures', prepared by the Policy Research Foundation under the coordination of former Industry, Commerce and Supply Secretary Chandra Kumar Ghimire, states that the location selected for the SEZ is not suitable. The report added, "Location is one of the key factors that makes SEZs successful in the world.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">It has been mentioned in the report that the places selected for SEZ should be connected with roads and railways, dry ports, in addition to having transport and transit agreements with the nearest sea ports and within quick access to air cargo and international airports. However, the report points out that this is not the case in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Additional SEZs have been proposed in Jumla, Gorkha and Nuwakot. It has been mentioned in the report that these places are also not suitable for export promotion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report of the foundation shows that the subsidiary industries were not allowed to operate in the areas designated for the main industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Simara is named as garment SEZ. However, it has been made clear in the report that industries such as stitching, thread, cloth, embroidery, dyeing, fashion designing services, semi and fully skilled workers are not allowed to open schools for teaching skills.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report points that the current policies and procedures are not SEZ-friendly. The Forestry Act 2076, Environment Protection Act 2076, Labor Act 2074 and the procedures related to providing subsidies to exports have not given any due attention to the industries established in SEZ. Nepal Trade Integrated Strategy 2016 and Commercial Policy 2072 are also silent on the issue of industries to be established in those areas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Section 9 of the Electricity Distribution Regulations 2069 states that 11 KV or 33 KV feeders can be taken for more than one industry in a SEZ compound. However, the provision of providing electricity to industries there at subsidized rates has not been mentioned anywhere in the existing policies related to SEZ. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The reasons for the success of SEZ in other countries are also mentioned in the report. It states that the SEZ of other countries has been successful due to the location advantage and the country's macroeconomic situation, support for industrial investment, cost and trade volume and transaction value, the level of skill and the availability of human resources. Similarly, management and service quality, government policies, laws, regulations and political and government stability are mentioned as reasons for the success of SEZ.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the report, there are 5,383 SEZs worldwide. Out of them, there are 4046 SEZs in Asia alone. There are 173 SEZs in underdeveloped countries. The number of SEZs in neighboring India has reached 373.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'special economic zone, Simara, Bhairahawa, location, suitable, study, Nepal, world, policy', 'description' => '', 'sortorder' => '18556', 'image' => '20230824035708_sez simara.jpg', 'article_date' => '2023-08-24 15:54:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18826', 'article_category_id' => '1', 'title' => 'Vehicles Start Arriving at Chobhar Dry Port for Customs Clearance', 'sub_title' => '', 'summary' => 'August 24: The Nepal Intermodal Transport Development Committee has informed that there has been an increase in the number of new vehicles arriving at the Chobhar Dry Port for customs clearance. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 24: The Nepal Intermodal Transport Development Committee has informed that there has been an increase in the number of new vehicles arriving at the Chobhar Dry Port for customs clearance. New vehicles have started arriving at this port for customs clearance from June 29.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the committee, 49 vehicles have arrived at the port so far.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ashish Gajurel, executive director of the committee, informed New Business Age that the arrival of new vehicles has already started. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 44 cars of Sangrila Motors Pvt Ltd and five double-cab pickup vehicles of Jio Automobiles Pvt Ltd have arrived at the port for customs clearance. He said that those vehicles were brought to Chobhar from Birgunj Integrated Check Post.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gajurel said that they have started facilitating customs clearance of vehicles at the Chobhar Dry Port after discussing the matter with NADA Automobiles Dealers Association of Nepal several times. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the importers will be bringing more vehicles at the dry port in the coming days. In addition, he said, discussions are being held with other businessmen about bringing goods to Chobhar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The entry fee is free for freight vehicles and new vehicles coming for customs clearance at the dry port customs office. The committee said that the parking and warehouse fees have also been kept at a minimum. According to the committee, 176 containers and 49 vehicles have arrived at the port for customs clearance due to these facilities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee is optimistic that the port will be fully operational soon as there has been a continuous increase in the number of vehicles and containers arriving at this newly-built port.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Chobhar Dry Port was built with an investment of Rs 1.5 billion. It took three years to complete the construction of the dry port.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It was inaugurated by the then Prime Minister Sher Bahadur Deuba in March, 2022. The port is spread over an area of 220 ropanis. The dry port can hold 500 containers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such a large dry port was constructed in Chobhar to facilitate the import and export of goods to and from Kathmandu, the largest city of the country, as well as reduce congestion at major customs such as Birgunj, and Bhairahawa.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Chobhar, dry, port, customs, clearance, vehicles', 'description' => '', 'sortorder' => '18555', 'image' => '20230824034338_20230124115624_Chobhar Dy port.jpg', 'article_date' => '2023-08-24 15:42:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18825', 'article_category_id' => '1', 'title' => 'Saudi Arabia Requests for Substantive Proposal for Cooperation in Nepal's Infrastructure Development', 'sub_title' => '', 'summary' => 'August 24: Minister for Physical Infrastructure and Transport, Prakash Jwala, and Saudi Arabia's ambassador to Nepal, Saad Nasser Abdullah Abu Haimed, held a meeting on Wednesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: Minister for Physical Infrastructure and Transport, Prakash Jwala, and Saudi Arabia's ambassador to Nepal, Saad Nasser Abdullah Abu Haimed, held a meeting on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the two discussed issues related to infrastructure development and bilateral partnership in development projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Terming Saudi Arabia as one of the major employment destinations for Nepali citizens, the minister proposed for Saudi Arabia's partnership in Nepal’s infrastructure and transport sector as well. On the occasion, he said around 400,000 Nepalis are currently engaged in the labour market in Saudi Arabia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> "Nepal is being graduated from the category of the least developed countries by 2026," the Minister informed the Saudi Arabia envoy, insisting on further investment and bilateral cooperation in Nepal's infrastructure industry for the sustainability of such graduation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, Saudi Arabia’s ambassador said they were ready to cooperate with Nepal in infrastructure and transport sector, and requested Nepal for presenting a substantive proposal towards that end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Minister Jwala told the ambassador that Nepal had already decided to support Saudi Arabia's candidature for hosting World Expo- 2030. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18554', 'image' => '20230824032820_Flag-Pins-Nepal-Saudi-Arabia552f760893184_600x600.jpg', 'article_date' => '2023-08-24 15:27:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18824', 'article_category_id' => '1', 'title' => 'Return on Equity of 10 Development Banks Shrinks', 'sub_title' => '', 'summary' => 'August 24: The Return on Equity (ROE) or the return on investment of most of the development banks declined in the last fiscal year (FY) compared to the previous FY.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 24: The Return on Equity (ROE) or the return on investment of most of the development banks declined in the last fiscal year (FY) compared to the previous FY.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ROE of 10 out of 16 development banks listed in the Nepal Stock Exchange (NEPSE) decreased in the review year. Analysts consider that the decline in ROE as to the decrease in the return of shareholders who invested in banks and financial institutions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Return on equity (ROE) is a measure of financial performance of a company </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">which gives information about the rate at which investors can get returns from investments made in shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors analyze ROE to see if a company is consistently outperforming other companies in the same sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Equity is obtained by subtracting external liabilities (claims other than shareholders) from total assets. And mathematically, ROE is obtained by dividing net profit by total equity. The longer the company is giving good returns on equity, the better it is for investment. ROE is a measure of a company's ability to make a profit and how effectively it generates profit. Companies with high ROE are considered good for investment. When comparing ROE, it should be compared between companies in the same sector. Generally, investors who invest in any bank and financial institution expect to get a return of 15 to 20 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the profits earned by banks, ROE differentiates how much dividends are paid to the shareholders. According to the general principles of investment, the attraction of investors should decrease in areas where ROE decline, but it seems that the attraction of investors is more in the shares of development banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The main reason for this is that the volume (paid-up capital) is low. Looking at the recent trend of the stock market, when the market increases, the share price of companies with low paid-up capital increases unnaturally. This means that traders are doing more business in the shares of such companies. Therefore, the share price is increasing. Recently, the number of short-term investments is more than long-term investments. Investors do not pay much attention to the financial condition and dividends after getting returns in a short period of time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Highest ROE of Garima Development Bank</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Garima Development Bank has the highest ROE of 15.70 percent among the 16 development banks listed in NEPSE. Similarly, Muktinath Development Bank's ROE is 14.45 percent. Two of the 16 development banks, Saptakoshi Development Bank and Narayani Development Bank are in losses. Similarly, the lowest ROE is of Sindhu Bikas Bank at 2.13 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Corporate Development Bank's ROE is 2.43 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ten years ago, the ROE of Muktinath Bikas Bank was 25.59 percent, but in the year 2022/23, it dropped to 14.45 percent. Similarly, Garima Bikas Bank's ROE was 19.24 in the year 2012/13, while last year it dropped to 15.70 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Return on Equity, bank, profit, investors, NEPSE, share', 'description' => '', 'sortorder' => '18553', 'image' => '20230824024924_bankkkkkkk.jpg', 'article_date' => '2023-08-24 14:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18823', 'article_category_id' => '1', 'title' => 'Rice Shortage is Sending Prices Soaring across the World', 'sub_title' => '', 'summary' => 'August 24: Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. Prices for rice grown in Kenya soared a while ago because of higher fertilizer prices and a years-long drought in the Horn of Africa that has reduced production. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Cheap rice imported from India had filled the gap, feeding many of the hundreds of thousands of residents in Nairobi's Kibera slum who survive on less than $2 a day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But that is changing. The price of a 25-kilogram (55-pound) bag of rice has risen by about a fifth since June, going from the equivalent of about $14 to $18. Wholesalers are yet to receive new stocks since India, the world's largest exporter of rice by far, said last month that it would ban some rice shipments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It's an effort by the world’s most populous nation to control domestic prices ahead of a key election year - but it’s left a yawning gap of around 9.5 million metric tons (10.4 tons) of rice that people around the world need, roughly a fifth of global exports. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I’m really hoping the imports keep coming,” said Ndege, 51, who's sold rice for 30 years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He isn’t the only one. Global food security is already under threat since Russia halted an agreement allowing Ukraine to export wheat and the El Nino weather phenomenon hampers rice production. Now, rice prices are soaring - Vietnam’s rice export prices, for instance, have reached a 15-year high - putting the most vulnerable people in some of the poorest nations at risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The world is at an “inflection point," said Beau Damen, a natural resources officer with the U.N. Food and Agriculture Organization based in Bangkok. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even before India’s restrictions, countries already were frantically buying rice in anticipation of scarcity later when the El Nino hit, creating a supply crunch and spiking prices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">What could make the situation worse is if India’s ban on non-basmati rice creates a domino effect, with other countries following suit. Already, the United Arab Emirates has suspended rice exports to maintain its domestic stocks. Another threat is if extreme weather damages rice crops in other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An El Nino is a natural, temporary and occasional warming of part of the Pacific Ocean that shifts global weather patterns, and climate change is making them stronger. Scientists expect the one underway to expand to supersized levels, and, in the past, they have resulted in extreme weather ranging from drought to flooding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact would be felt worldwide. Rice consumption in Africa has been growing steadily, and most countries are heavily dependent on imports. While nations with growing populations like Senegal have been trying to grow more of their own rice - many are struggling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amadou Khan, a 52-year-old unemployed father of five in Dakar, says his children eat rice with every meal except breakfast, which they often have to skip when he's out of work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I am just getting by - sometimes, I’ve trouble taking care of my kids,” he said. Imported rice - 70% of which comes from India - has become prohibitively expensive in Senegal, so he's eating homegrown rice that costs two-thirds as much. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senegal will turn to other trading partners like Thailand or Cambodia for imports, though the West African country is not “far from being self-sufficient" on rice, with over half of its demand grown locally, Agriculture Ministry spokesperson Mamadou Aïcha Ndiaye said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Asian countries, where 90% of the world’s rice is grown and eaten, are struggling with production. The Philippines was carefully managing water in anticipation of less rain amid the El Nino when Typhoon Doksuri battered its northern rice-producing region, damaging $32 million worth of rice crops - an estimated 22% of its annual production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The archipelago nation is the second-largest importer of rice after China, and President Ferdinand Marcos Jr. has underscored the need to ensure adequate buffers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India’s rice restrictions also were motivated by erratic weather: An uneven monsoon along with a looming El Nino meant that the partial ban was needed to stop food prices from rising, Indian food policy expert Devinder Sharma said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The restrictions will take offline nearly half the country's usual rice exports this year, said Ashok Gulati of the Indian Council for Research on International Economic Relation. Repeated restrictions make India an unreliable exporter, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“That’s not good for the export business because it takes years to develop these markets,” Gulati said. Vietnam, another major rice exporter, is hoping to capitalize. With rice export prices at a 15-year high and expectations that annual production to be marginally higher than last year, the Southeast Asian nation is trying to keep domestic prices stable while boosting exports. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Agriculture Ministry says it's working to increase how much land in the Mekong Delta is dedicated to growing rice by around 500 square kilometers - an area larger than 90,000 football fields. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Already the Philippines is in talks with Vietnam to try to get the grain at lower prices, while Vietnam also looks to target the United Kingdom, which receives much of its rice from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But exporters like Charoen Laothamatas in neighboring Thailand are wary. The Thai government expects to ship more rice than it did last year, with its exports in the first six months of the year 15% higher than the same period of 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the lack of clarity about what India will do next and concerns about the El Nino means Thai exporters are reluctant to take orders, mill operators are unwilling to sell and farmers have increased the prices of unmilled rice, said Laothamatas, president of the Thai Rice Exporters Association. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With prices fluctuating, exporters don't know what prices to quote - because prices may spike again the next day. “And no one wants to take the risk,” Laothamatas said. – AP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'rice, price, soar, hike, India, export, ban, Africa, world', 'description' => '', 'sortorder' => '18552', 'image' => '20230824012334_ricee.jpg', 'article_date' => '2023-08-24 13:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18821', 'article_category_id' => '1', 'title' => 'SC Issues Interim Order not to Implement Constituency Infrastructure Development Fund', 'sub_title' => '', 'summary' => 'August 24: The Supreme Court has issued an interim order not to implement the infrastructure development programmes of the House of Representatives and all seven provincial assemblies mentioned in the budget of the current fiscal year (FY 2023/24).', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 24: The Supreme Court has issued an interim order not to implement the infrastructure development programmes of the House of Representatives and all seven provincial assemblies mentioned in the budget of the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Constitutional Bench of the Supreme Court issued the order on Wednesday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Responding to a writ petition filed by Advocate Trilok Bahadur Chand, the Constitutional Bench consisting of Chief Justice Bishwambhar Prasad Shrestha, justices Ishwar Prasad Khatiwada, Anand Mohan Bhattarai, Anil Kumar Sinha and Prakash Man Singh Raut issued the interim order not to implement the parliamentary Constituency Infrastructure Development Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Considering the spirit of the constitution, the provision related to number 445 of the budget statement of the fiscal year 2023/24 and the provisions related to the parliamentary Constituency Infrastructure Development for the legislatures of all the seven provinces should not be implemented until the final hearing of this case,” reads the interim order issued on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget for the current fiscal year during a joint meeting of the House of Representatives and the National Assembly on May 29, Finance Minister Dr Prakash Sharan Mahat had mentioned that a budget of Rs 50 million has been set aside to implement infrastructure development programmes of the MPs in each constituency of the House of Representatives. Similarly, the state governments had also allocated budget to be spent on the plans recommended by the parliamentarians in the state assembly constituencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has also demanded a written response from the federal government and the state governments within 7 days in this regard.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has commented that Nepal has adopted a democratic governance system based on the principle of separation of powers and that it is not appropriate for legislators to use the executive powers of the federal cabinet and state cabinet. The apex court pointed out that giving MPs the right to choose plans and allocate budget would be counterproductive to the constitutional system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The order states: 'It seems that the main work of the federal and state legislatures will be legislative in nature. It does not appear that federal parliamentarians or provincial assembly members are given the responsibility to perform executive functions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has warned that there will be a conflict of interest if the parliamentarians exercise their executive powers on issues that are not recommended by the National Planning Commission or the Provincial Planning Commission or the related ministries. It is said in the order, “When the parliamentarian themselves allocate funds in the name of infrastructure development of the parliamentary constituency, there will be a conflict of interest.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Supreme Court has mentioned that the issue of transparency and accountability should be taken into consideration while spending government funds in such programmes.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Supreme, Court, Nepal, government, interim, order, writ, petition, constituency, infrastructure, development, fund, parliament, state, assembly, House, Representatives', 'description' => '', 'sortorder' => '18550', 'image' => '20230824112505_Supreme Court.jpg', 'article_date' => '2023-08-24 11:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18820', 'article_category_id' => '1', 'title' => 'Weather Likely to Improve by Saturday ', 'sub_title' => '', 'summary' => 'August 24: The monsoon rain is expected to persist for the next two to three days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: The monsoon rain is expected to persist for the next two to three days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, it will take a couple of days for the weather to improve. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sivision's senior meteorologist Barun Poudel said that the ongoing precipitation is anticipated to continue until Friday with chances of heavy rains at one or two places, particularly in Koshi, Bagmati, and Gandaki provinces. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">T<span style="font-family:"Arial Unicode MS","sans-serif"">he division stated that the weather is generally to mostly cloudy throughout the country today with the possibility of light to moderate rainfall at some places of the country. Likewise, heavy rain with thunder and lightning is expected at one or two places of Koshi, Bagmati, Gandaki, Lumbini and Sudur Pashchim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the weather will be mostly cloudy throughout the country tonight while light to moderate rainfall is likely to occur at many places of the country. Heavy rain with thunder and lightning may take place at one or two places of Koshi, Madesh, Bagmati, Gandaki and Lumbini provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18549', 'image' => '20230824104947_rain.jpeg', 'article_date' => '2023-08-24 10:48:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 25: Four micro insurance companies have issued insurance policies worth more than Rs 70 million in just one month. According to the Nepal Insurance Authority, micro insurance companies issued insurance policies worth Rs 71.1 million in the month of Shrawan (mid-July to mid-August).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">On November 27 last year, the authority had issued licenses to seven micro insurance companies, including three micro life insurance companies and four micro non-life insurance companies. Four of them have already started their business.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Micro insurance companies provide insurance to marginalized and low-income communities in remote, rural and urban areas to mitigate future risks.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the authority, two small life insurance companies issued 219 insurance policies worth Rs 633 million in the review month. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Guardian Micro Life Insurance Company issued 127 insurance policies and collected Rs 141,000 as first installment of insurance premium.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Similarly, Crest Micro Life Insurance Limited issued 92 insurance policies and collected Rs 64,000 insurance fee in first installment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the non-life insurance sector, two insurance companies issued three insurance policies worth Rs 8 million in the review month. Micro Insurance Company Limited collected Rs 10,000 as insurance premium.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chiranjeevi Nepal, chairman of the then Insurance Board (now Nepal Insurance Authority) said that micro insurance is a new concept in Nepal. According to Nepal, if the insurance authority separates the work by understanding the essence of the micro insurance companies according to international practice, the new micro insurance companies will help to further expand the scope of insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The authorities must study and make standards to separate the areas of life and non-life insurance companies that are operated by micro insurance companies. The central bank has also fixed the area where microfinance companies can work," he says. "If the authority also fixes the scope for micro insurance companies to work, these companies will be of more help in the development and expansion of the insurance sector."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chirayu Bhandari, Chief Executive Officer (CEO) of Guardian Micro Life Insurance, said that there is immense potential in micro insurance in Nepal. Guardian Micro has issued 127 insurance policies within 5-6 days of its operation,'' he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that since the main target group of micro insurance companies is the low-income group, awareness about micro insurance is necessary. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Bhandari, Guardian Micro Insurance Company has done all the necessary works to deliver services through the mobile app and therefore insurance policy can be purchased from anywhere at any time. Similarly, the company said they have made all the works paperless to facilitate the service for the insured.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18564', 'image' => '20230825022412_Insurance.jpg', 'article_date' => '2023-08-25 14:23:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18834', 'article_category_id' => '1', 'title' => 'Ropeway Brings Cheers to Farmers in Rukum East ', 'sub_title' => '', 'summary' => 'August 25: Farmers of Bhume Rural Municipality ward no 4 and 8 in Rukum (East) are elated with the operation of a ropeway in their locality.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: Farmers of Bhume Rural Municipality ward no 4 and 8 in Rukum (East) are elated with the operation of a ropeway in their locality. This transport facility is considerably facilitating the farmers in getting market for their domestic produces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 1,144 metres- ropeway installed and operated by the Gravity Goods Ropeway in these two wards ferry vegetables and fruits to and fro in no time. Dhan Bahadur Budha, a farmer of Kuchibang, recalled that earlier it would take them some three to four hours of walk to reach Kandabagar from Kuchibang with their produces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"With the operation of the ropeway, it just takes two minutes on average," he gushed. The ropeway has saved their time and brought convenience for the people of the villages that do not have access to roads yet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Road track has been opened in Kuchibang recently. However, vehicles do not ply the track, bemoaned Budha. Khabang, Rukumkot among others are the nearest market for the produces grown in these areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jhalak Roka, another farmer from Kuchibang, admitted that he had not considered vegetable farming given the inconvenience they had been facing in reaching the marketplaces. But, due to the operation of ropeway, he admitted that many farmers like him have taken up commercial farming of vegetables such as cabbages, carrot and cucumber, among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kuchibang has favorable soil for vegetable farming, especially the above-mentioned vegetables. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of 242 households at Kuchibang, Maibang, Jhimka and Handi among other places have been hugely benefited with the ropeway, according to Dilli Budhachettri, a local accountant. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Besides farmers, the ropeway has been a great assistance for other purposes such as transporting food items related to the mid-day snacks for schools, admitted Budhachettri. The ropeway that connects Kuchibang and Kandabagar was built with the financial assistance of the UK Aid and other social organizations. The UK Aid provided over Rs 4.3 million and the remaining amount of Rs 500,000 was collected through locals as labour donation, informed Hom Prakash Shrestha, chairperson of Bhume Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plan is afoot to make Kuchibang a model agricultural village with the operation of the ropeway facilitating the farmers for their agricultural produces, according to Shrestha. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18563', 'image' => '20230825014947_hq720.jpg', 'article_date' => '2023-08-25 13:49:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18833', 'article_category_id' => '1', 'title' => 'Capital Gains Tax from Secondary Market Declines by Rs 250 Million in a Month', 'sub_title' => '', 'summary' => 'August 25: The capital gains tax (CGT) collected from investors in the securities market has decreased by more than Rs 248.1 million in the month of Shrawn (mid-July to mid-August) compared to the month of Asar (mid-June to mid-July) this year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 25: The capital gains tax (CGT) collected from investors in the securities market has decreased by more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">248.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million in the month of Shrawn (mid-July to mid-August) compared to the month of Asar (mid-June to mid-July) this year. According to the information provided by CDS and Clearing Limited (CDSC), the clearing house of securities transactions, the government collected capital gains tax of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">9 million in mid-August against Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">649</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.49 million in mid-July.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Suresh Neupane, information officer of CDSC, said that the government collected CGT of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">74</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 million from institutional investors in mid-July to mid-August. According to Neupane, the government had collected CGT of more than Rs 134.7 million from institutional investors a month ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Institutional investors are required to pay </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent capital gains tax to the government when trading securities at a profit. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, the government collects two types of capital gains tax from individual investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">CDSC spokesperson Neupane said that the government collected CGT of more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">224</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.7 million from short term investments and more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">1.5 million from long term investments made by individual investors in mid-July to mid-August.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that a month ago, more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">359.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million were collected from short-term investors and more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">4.6 million from long-term investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the secondary market of securities, the number of individual investors is more than institutional investors. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Information officer of Nepal Stock Exchange (NEPSE) Murahari Parajuli said that more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million investors have traded in the secondary market of securities. According to Parajuli, more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> investors are active in the business every day when the market is increasing, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">60,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">65,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are active on the day when the market is decreasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Lately, there is not much enthusiasm in the secondary market. Due to the increase in the trend of booking profits in a short period of time, the market has not been able to gain positive momentum. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Brokers say that as the market could not pick up pace, the investors were in a state of confusion and the transaction amount also decreased along with the market capitalization in the last one month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">When the capital gains tax paid by the investors who have made profit is reduced, it indicates that the income of the investors from the securities market has also reduced.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Leading investor Dambaru Ballabh Ghimire says that when the income of investors in the securities market increases, the income of the government will also increase. He says that investors like him, who have made this sector a source of income, are in trouble because the market is not gaining positive momentum. Ghimire, who has been active in the stock market for the past four decades, says that long-term investors should not be disappointed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Admitting that the market has a natural cycle of growth and decline, Ghimire emphasized on the development of the market so that the income of the investors does not decrease.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government also seems to have a special interest in the development of this sector. Recently, the government has tried to diversify the market by approving the seventh amendment proposal of the Securities Registration and Issuance Regulations in order to develop the securities market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even the Securities Board of Nepal, the regulatory body of the securities market, is emphasizing on policy reforms keeping in mind the interests of the investors. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18562', 'image' => '20230825010116_1692935579.jpg', 'article_date' => '2023-08-25 13:00:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18832', 'article_category_id' => '1', 'title' => 'Inflation, Covid Pushed Nearly 70 Million Asians into Extreme Poverty: ADB ', 'sub_title' => '', 'summary' => 'August 25: Soaring food and fuel prices and the coronavirus pandemic pushed nearly 70 million more people in developing Asia into extreme poverty last year, the Asian Development Bank said in a report released Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: Soaring food and fuel prices and the coronavirus pandemic pushed nearly 70 million more people in developing Asia into extreme poverty last year, the Asian Development Bank said in a report released Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Manila-based lender defines extreme poverty as living on less than $2.15 a day based on inflation-adjusted 2017 prices. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Asia and the Pacific is steadily recovering from the Covid-19 pandemic, but the increased cost-of-living crisis is undermining progress toward eliminating poverty," ADB chief economist Albert Park said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bank said an estimated 155.2 million people, or 3.9 percent of the region's population, were living in extreme poverty in 2022 -- 67.8 million more than would have been without the pandemic and higher living costs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Developing Asia refers to the multilateral lender's 46 emerging member economies, stretching from Kazakhstan in Central Asia to the Cook Islands in the Pacific. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Poor people have been hurt the most by higher inflation as they are less able to pay higher prices for necessities, leaving many unable to save money, pay for healthcare or invest in education, the report said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ADB estimated that the pandemic pushed 75-80 million more people into extreme poverty in 2020, compared to its pre-pandemic projections. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In July, the bank said that it expects inflation to ease to 3.6 percent this year -- from 4.4 percent in 2022 -- as food and fuel prices softened. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While developing Asian economies should continue to make progress against poverty, an estimated 1.26 billion people, or about 30 percent of the region's projected population by 2030, will still be considered "economically vulnerable", it said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The term refers to a person living on $3.65 to $6.85 a day based on 2017 prices. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => 'Inflation, poverty, extreme, Covid, ADB, Asian, development, bank', 'description' => '', 'sortorder' => '18561', 'image' => '20230825120643_adbb.jpg', 'article_date' => '2023-08-25 12:06:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18831', 'article_category_id' => '1', 'title' => 'Wagner Boss Presumed Dead in Russia Plane Crash ', 'sub_title' => '', 'summary' => 'August 25: A day after a plane crash that presumably killed Russia's infamous mercenary boss Yevgeny Prigozhin and all other nine people on board, Russian President Vladimir was still silent on the incident on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 25: A day after a plane crash that presumably killed Russia's infamous mercenary boss Yevgeny Prigozhin and all other nine people on board, Russian President Vladimir was still silent on the incident on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The crash on Wednesday evening took place exactly two months after Prigozhin led a rebellion against Moscow's top military brass, in the biggest threat to Putin's long rule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moscow opened a probe into violations of air traffic rules but investigators have been mute since, and speculation of a possible assassination is rife. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ukraine denied involvement, with President Volodymyr Zelensky saying: "We have nothing to do with this situation, that's for sure." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I think everyone knows who this concerns," Zelensky said, in an apparent reference to Putin. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moscow had still not officially confirmed the death of the 62-year-old warlord, saying only that he was listed as a passenger on the flight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the Wagner rebellion on June 23-24, Putin gave an address to Russians in which he called Prigozhin -- once his ally -- a "traitor", and warned against "civil war". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prigozhin had spent months launching scathing attacks on the way Moscow led its Ukraine offensive before his 48-hour mutiny shook Putin's rule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many were surprised when Moscow then dropped charges against Prigozhin and allowed him to go into exile in Belarus. </span><br /> <br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Literally falls from the sky'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some Western leaders questioned if the crash was an accident. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">US President Joe Biden said he did not know what happened but added: "There's not much that happens in Russia that Putin's not behind." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France saw "reasonable doubts" about the crash and Germany said it followed a pattern of "unclarified" fatalities in Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">German Foreign Minister Annalena Baerbock appeared to say it was suspicious that "a disgraced former confidant of Putin suddenly, literally falls from the sky two months after he attempted a mutiny". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even influential pro-Kremlin figures, such as state television personality and Putin ally Margarita Simonyan, seemed to suggest that it could have been an assassination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Among the versions that are being discussed (about the crash) is that it was staged. But personally, I'm leaning towards the more obvious one," she said on social media. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his long year rule, opponents of Putin have disappeared in mysterious circumstances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Russia's aviation authority published the names of the people on board the Embraer private jet late on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It included Prigozhin and his right-hand man, Dmitry Utkin, a shadowy figure who managed Wagner's operations and allegedly served in Russian military intelligence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Russian police patrolled the crash site near the village of Kuzhenkino, some 350 kilometres (220 miles) north of Moscow in the Tver region. Some masked men carried rifles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A woman living near Kuzhenkino said her neighbour heard a roar and saw "sparkling from the plane", accompanied by fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"A neighbour ran up to me with shaking hands and when we went to the window I saw only one mushroom (a cloud from the explosion), a black cloud," she said in video published by state-run agency RIA Novosti. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Real patriot'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Video verified by AFP from the scene appeared to show the Embraer Legacy plane engulfed in a plume-like column of white smoke as it fell from the sky. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Flightradar24 tracker website said the plane flying from Moscow to Saint Peterburg appeared on their radar until the last 30 seconds and descended "dramatically" at around 15:20 GMT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some Wagner-linked Telegram channels had initially suggested that the plane was shot down by Russian air defence, on a day when Kyiv struck Russia with more drone attacks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While he publicly challenged Moscow's authority, Prigozhin appeared to enjoy some popularity in Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He appealed to nationalist-leaning Russians -- also suspicious of the army leadership during the Ukraine offensive -- who embraced his tough-guy speak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some even speculated that he would take part in the 2024 presidential election, which is expected to extend Putin's rule until at least 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"He was one of the few real patriots in our country," Pavel Zakharov said as he laid flowers at Wagner's headquarters in Saint Petersburg. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many Russians eagerly awaited Prigozhin's outspoken social media videos, often full of swear words and a sharp contrast to the tightly controlled narrative of Russian officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Everyone was always waiting (for) what Uncle Zhenia would say," Igor, who also paid his respects to the crash victims, told AFP, referring to Prigozhin by the diminutive of his first name. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Ukrainians hope death 'true'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But some feared that Prigozhin's death would raise tensions within Russian society. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I hope it will not become for our society some kind of red rag to a bull," Natalia, a woman who came to the Wagner Saint Petersburg HQ said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagner offices were still operating and even recruiting in Russia after Prigozhin's rebellion, which saw his men take over a military headquarters in the southern city of Rostov-on-Don and march on Moscow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Siberia, a region from where Wagner recruited heavily, people also laid flowers at the mercenary company's office in Novosibirsk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But in Ukraine, where Wagner fighters were known for their exceptional brutality -- including extrajudicial killings of their own men -- many welcomed the news of Prigozhin's likely end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The warlord had recruited tens of thousands of Russian convicts to fight in Ukraine, often thrown at the forefront of battles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I feel really happy that this person died, if it is true," government worker Iryna Kuchina told AFP in central Kyiv. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Let's hope that it is." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagner's future without Prigozhin -- including its involvement in African conflicts -- remained unclear. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The shady businessman's fate had been under question for two months, since the unusual deal with Minsk in which the Kremlin "guaranteed" he would be allowed to live in Belarus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minsk has for weeks played up the presence of the Russian fighters on its territory, saying it had set up camps for them. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is not yet clear what will happen to the Belarus-based fighters. -- AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18560', 'image' => '20230825112900_AP23236663202790.jpg', 'article_date' => '2023-08-25 11:28:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18830', 'article_category_id' => '1', 'title' => '265 tons of Onions Arrive at Kalimati; Price Likely to Stabilize', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 25: A total of 265 tons of onions have been brought to Kalimati in the last two days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Binay Shrestha, the spokesperson of the Kalimati Vegetable and Fruit Development Committee, 265 tons of onions were brought on Wednesday and Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal had experienced shortage of onions since Sunday after India imposed 40% tariff on the onion export as onion import was stopped. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee had not fixed the prices of onions citing scarcity of onions on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Committee Spokesperson Shrestha mentioned that price of onions was not fixed as Kalimati market did not have onions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the arrival of onions into the market since Wednesday, supply of the onions has become easy, and regular. “The supply of the onions has become normal in the market,” said spokesperson Shrestha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Onions were priced in the market from a minimum of Rs 75 to a maximum of Rs 80 per kilogram on Thursday. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, small traders have reportedly sold for up to Rs 105 per kilogram, according to consumers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The price of onions will stabilize from now, Shrestha said. </span></span></p> ', 'published' => true, 'created' => '2023-08-25', 'modified' => '2023-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '18559', 'image' => '20230825060841_collage.jpg', 'article_date' => '2023-08-25 06:06:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18829', 'article_category_id' => '1', 'title' => 'Flights Disrupted in Karnali Province for Two Days', 'sub_title' => '', 'summary' => 'Bad weather has disrupted flights in Karnali Province for the past two days. Continuous rainfall has led to flight cancellations to and from key airports such as Juphal in Dolpa, Simkot in Humla, and Talcha in Mugu.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 24: Bad weather has disrupted flights in Karnali Province for the past two days.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Continuous rainfall has led to flight cancellations to and from key airports such as Juphal in Dolpa, Simkot in Humla, and Talcha in Mugu.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rajendra Thakulla, an engineer from Thulibheri Municipality in Dolpa, expressed his frustration as he remained stranded in Nepalgunj due to the flight disruptions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He bemoaned, "I've been waiting for the flight to operate for two days now. Bad weather has prevented me from flying to Dolpa, and road travel is also challenging."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The people living in these remote mountainous areas of the Karnali province heavily rely on air travel, primarily because most of the roads have been damaged by monsoon-related floods and landslides.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Unfortunately, unfavorable weather conditions have further compounded their transportation woes.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even though there is a road connection to Dolpa, traveling by road during the rainy season remains perilous, with rising water levels in rivers and streams posing significant risks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, Humla still lacks road connectivity, making it particularly vulnerable to disruptions in air travel. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18558', 'image' => '20230824053851_collage (5).jpg', 'article_date' => '2023-08-24 17:37:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18828', 'article_category_id' => '1', 'title' => 'NEPSE Index Falls After Two Days’ Gains', 'sub_title' => '', 'summary' => '', 'content' => '<p> </p> <p><span style="font-size:20px">August 24: </span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">After experiencing two consecutive days of gains, the Nepal Stock Exchange (NEPSE) Index saw a decline on Thursday, the final trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The index, which had risen by 47 points in the preceding two trading days, experienced a loss of 31.52 points or 1.54%, closing at 2013.93 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market experts and analysts have attributed this downturn to the prevalence of short-term traders who tend to sell their stocks as soon as they secure a small profit, leading to a downward pressure on the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the day's trading session, a total of 275 different stocks were traded, resulting in a cumulative volume of 4,657,137 shares exchanged through 40,800 transactions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The total value of the shares traded amounted to Rs 1.55 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Soaltee Hotel Limited (SHL) emerged as the leader in turnover, with a substantial trading value of Rs. 7.87 crores and a closing market price of Rs. 455.10. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Molung Hydropower Company Limited (MHCL) experienced the highest decline of the day, losing 8.54%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, Kutheli Bukhari Small Hydropower Limited (KBSH), which gained an impressive 9.99% and technically hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Across the board, all sub-indices ended the day in the negative territory, with the Finance Index suffering the most significant decline at 2.92%.</span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18557', 'image' => '20230824043840_collage (4).jpg', 'article_date' => '2023-08-24 16:37:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18827', 'article_category_id' => '1', 'title' => 'Locations of Special Economic Zones not Suitable: Study', 'sub_title' => '', 'summary' => 'August 24: The Special Economic Zone (SEZ) Authority last issued a notification on July 11 to lease the plots of SEZ located in Bhairawa and Simara for the establishment and operation of industries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 24: The Special Economic Zone (SEZ) Authority last issued a notification on July 11 to lease the plots of SEZ located in Bhairawa and Simara for the establishment and operation of industries. The same notification was issued earlier on April 30 as well. </span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In two months, the authority made two public calls to businessmen to establish and operate industries in those newly-built facilities, but there was no encouraging response from the industrialists. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">A study conducted amid the reluctance of businessmen to join the SEZ has shown that the locations selected for the SEZ are not suitable. It is mentioned in the study report that both SEZs, which are partially operational, and those under construction are not in suitable locations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report on 'Special Economic Zones in Nepal: Current Situation, Problems and Effective Operation Measures', prepared by the Policy Research Foundation under the coordination of former Industry, Commerce and Supply Secretary Chandra Kumar Ghimire, states that the location selected for the SEZ is not suitable. The report added, "Location is one of the key factors that makes SEZs successful in the world.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">It has been mentioned in the report that the places selected for SEZ should be connected with roads and railways, dry ports, in addition to having transport and transit agreements with the nearest sea ports and within quick access to air cargo and international airports. However, the report points out that this is not the case in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Additional SEZs have been proposed in Jumla, Gorkha and Nuwakot. It has been mentioned in the report that these places are also not suitable for export promotion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report of the foundation shows that the subsidiary industries were not allowed to operate in the areas designated for the main industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Simara is named as garment SEZ. However, it has been made clear in the report that industries such as stitching, thread, cloth, embroidery, dyeing, fashion designing services, semi and fully skilled workers are not allowed to open schools for teaching skills.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report points that the current policies and procedures are not SEZ-friendly. The Forestry Act 2076, Environment Protection Act 2076, Labor Act 2074 and the procedures related to providing subsidies to exports have not given any due attention to the industries established in SEZ. Nepal Trade Integrated Strategy 2016 and Commercial Policy 2072 are also silent on the issue of industries to be established in those areas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Section 9 of the Electricity Distribution Regulations 2069 states that 11 KV or 33 KV feeders can be taken for more than one industry in a SEZ compound. However, the provision of providing electricity to industries there at subsidized rates has not been mentioned anywhere in the existing policies related to SEZ. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The reasons for the success of SEZ in other countries are also mentioned in the report. It states that the SEZ of other countries has been successful due to the location advantage and the country's macroeconomic situation, support for industrial investment, cost and trade volume and transaction value, the level of skill and the availability of human resources. Similarly, management and service quality, government policies, laws, regulations and political and government stability are mentioned as reasons for the success of SEZ.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the report, there are 5,383 SEZs worldwide. Out of them, there are 4046 SEZs in Asia alone. There are 173 SEZs in underdeveloped countries. The number of SEZs in neighboring India has reached 373.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'special economic zone, Simara, Bhairahawa, location, suitable, study, Nepal, world, policy', 'description' => '', 'sortorder' => '18556', 'image' => '20230824035708_sez simara.jpg', 'article_date' => '2023-08-24 15:54:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18826', 'article_category_id' => '1', 'title' => 'Vehicles Start Arriving at Chobhar Dry Port for Customs Clearance', 'sub_title' => '', 'summary' => 'August 24: The Nepal Intermodal Transport Development Committee has informed that there has been an increase in the number of new vehicles arriving at the Chobhar Dry Port for customs clearance. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 24: The Nepal Intermodal Transport Development Committee has informed that there has been an increase in the number of new vehicles arriving at the Chobhar Dry Port for customs clearance. New vehicles have started arriving at this port for customs clearance from June 29.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the committee, 49 vehicles have arrived at the port so far.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ashish Gajurel, executive director of the committee, informed New Business Age that the arrival of new vehicles has already started. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 44 cars of Sangrila Motors Pvt Ltd and five double-cab pickup vehicles of Jio Automobiles Pvt Ltd have arrived at the port for customs clearance. He said that those vehicles were brought to Chobhar from Birgunj Integrated Check Post.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gajurel said that they have started facilitating customs clearance of vehicles at the Chobhar Dry Port after discussing the matter with NADA Automobiles Dealers Association of Nepal several times. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the importers will be bringing more vehicles at the dry port in the coming days. In addition, he said, discussions are being held with other businessmen about bringing goods to Chobhar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The entry fee is free for freight vehicles and new vehicles coming for customs clearance at the dry port customs office. The committee said that the parking and warehouse fees have also been kept at a minimum. According to the committee, 176 containers and 49 vehicles have arrived at the port for customs clearance due to these facilities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The committee is optimistic that the port will be fully operational soon as there has been a continuous increase in the number of vehicles and containers arriving at this newly-built port.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Chobhar Dry Port was built with an investment of Rs 1.5 billion. It took three years to complete the construction of the dry port.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It was inaugurated by the then Prime Minister Sher Bahadur Deuba in March, 2022. The port is spread over an area of 220 ropanis. The dry port can hold 500 containers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such a large dry port was constructed in Chobhar to facilitate the import and export of goods to and from Kathmandu, the largest city of the country, as well as reduce congestion at major customs such as Birgunj, and Bhairahawa.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Chobhar, dry, port, customs, clearance, vehicles', 'description' => '', 'sortorder' => '18555', 'image' => '20230824034338_20230124115624_Chobhar Dy port.jpg', 'article_date' => '2023-08-24 15:42:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18825', 'article_category_id' => '1', 'title' => 'Saudi Arabia Requests for Substantive Proposal for Cooperation in Nepal's Infrastructure Development', 'sub_title' => '', 'summary' => 'August 24: Minister for Physical Infrastructure and Transport, Prakash Jwala, and Saudi Arabia's ambassador to Nepal, Saad Nasser Abdullah Abu Haimed, held a meeting on Wednesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: Minister for Physical Infrastructure and Transport, Prakash Jwala, and Saudi Arabia's ambassador to Nepal, Saad Nasser Abdullah Abu Haimed, held a meeting on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the two discussed issues related to infrastructure development and bilateral partnership in development projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Terming Saudi Arabia as one of the major employment destinations for Nepali citizens, the minister proposed for Saudi Arabia's partnership in Nepal’s infrastructure and transport sector as well. On the occasion, he said around 400,000 Nepalis are currently engaged in the labour market in Saudi Arabia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> "Nepal is being graduated from the category of the least developed countries by 2026," the Minister informed the Saudi Arabia envoy, insisting on further investment and bilateral cooperation in Nepal's infrastructure industry for the sustainability of such graduation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, Saudi Arabia’s ambassador said they were ready to cooperate with Nepal in infrastructure and transport sector, and requested Nepal for presenting a substantive proposal towards that end. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Minister Jwala told the ambassador that Nepal had already decided to support Saudi Arabia's candidature for hosting World Expo- 2030. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18554', 'image' => '20230824032820_Flag-Pins-Nepal-Saudi-Arabia552f760893184_600x600.jpg', 'article_date' => '2023-08-24 15:27:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18824', 'article_category_id' => '1', 'title' => 'Return on Equity of 10 Development Banks Shrinks', 'sub_title' => '', 'summary' => 'August 24: The Return on Equity (ROE) or the return on investment of most of the development banks declined in the last fiscal year (FY) compared to the previous FY.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 24: The Return on Equity (ROE) or the return on investment of most of the development banks declined in the last fiscal year (FY) compared to the previous FY.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ROE of 10 out of 16 development banks listed in the Nepal Stock Exchange (NEPSE) decreased in the review year. Analysts consider that the decline in ROE as to the decrease in the return of shareholders who invested in banks and financial institutions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Return on equity (ROE) is a measure of financial performance of a company </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">which gives information about the rate at which investors can get returns from investments made in shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors analyze ROE to see if a company is consistently outperforming other companies in the same sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Equity is obtained by subtracting external liabilities (claims other than shareholders) from total assets. And mathematically, ROE is obtained by dividing net profit by total equity. The longer the company is giving good returns on equity, the better it is for investment. ROE is a measure of a company's ability to make a profit and how effectively it generates profit. Companies with high ROE are considered good for investment. When comparing ROE, it should be compared between companies in the same sector. Generally, investors who invest in any bank and financial institution expect to get a return of 15 to 20 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the profits earned by banks, ROE differentiates how much dividends are paid to the shareholders. According to the general principles of investment, the attraction of investors should decrease in areas where ROE decline, but it seems that the attraction of investors is more in the shares of development banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The main reason for this is that the volume (paid-up capital) is low. Looking at the recent trend of the stock market, when the market increases, the share price of companies with low paid-up capital increases unnaturally. This means that traders are doing more business in the shares of such companies. Therefore, the share price is increasing. Recently, the number of short-term investments is more than long-term investments. Investors do not pay much attention to the financial condition and dividends after getting returns in a short period of time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Highest ROE of Garima Development Bank</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Garima Development Bank has the highest ROE of 15.70 percent among the 16 development banks listed in NEPSE. Similarly, Muktinath Development Bank's ROE is 14.45 percent. Two of the 16 development banks, Saptakoshi Development Bank and Narayani Development Bank are in losses. Similarly, the lowest ROE is of Sindhu Bikas Bank at 2.13 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Corporate Development Bank's ROE is 2.43 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ten years ago, the ROE of Muktinath Bikas Bank was 25.59 percent, but in the year 2022/23, it dropped to 14.45 percent. Similarly, Garima Bikas Bank's ROE was 19.24 in the year 2012/13, while last year it dropped to 15.70 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Return on Equity, bank, profit, investors, NEPSE, share', 'description' => '', 'sortorder' => '18553', 'image' => '20230824024924_bankkkkkkk.jpg', 'article_date' => '2023-08-24 14:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18823', 'article_category_id' => '1', 'title' => 'Rice Shortage is Sending Prices Soaring across the World', 'sub_title' => '', 'summary' => 'August 24: Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. Prices for rice grown in Kenya soared a while ago because of higher fertilizer prices and a years-long drought in the Horn of Africa that has reduced production. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Cheap rice imported from India had filled the gap, feeding many of the hundreds of thousands of residents in Nairobi's Kibera slum who survive on less than $2 a day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But that is changing. The price of a 25-kilogram (55-pound) bag of rice has risen by about a fifth since June, going from the equivalent of about $14 to $18. Wholesalers are yet to receive new stocks since India, the world's largest exporter of rice by far, said last month that it would ban some rice shipments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It's an effort by the world’s most populous nation to control domestic prices ahead of a key election year - but it’s left a yawning gap of around 9.5 million metric tons (10.4 tons) of rice that people around the world need, roughly a fifth of global exports. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I’m really hoping the imports keep coming,” said Ndege, 51, who's sold rice for 30 years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He isn’t the only one. Global food security is already under threat since Russia halted an agreement allowing Ukraine to export wheat and the El Nino weather phenomenon hampers rice production. Now, rice prices are soaring - Vietnam’s rice export prices, for instance, have reached a 15-year high - putting the most vulnerable people in some of the poorest nations at risk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The world is at an “inflection point," said Beau Damen, a natural resources officer with the U.N. Food and Agriculture Organization based in Bangkok. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even before India’s restrictions, countries already were frantically buying rice in anticipation of scarcity later when the El Nino hit, creating a supply crunch and spiking prices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">What could make the situation worse is if India’s ban on non-basmati rice creates a domino effect, with other countries following suit. Already, the United Arab Emirates has suspended rice exports to maintain its domestic stocks. Another threat is if extreme weather damages rice crops in other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An El Nino is a natural, temporary and occasional warming of part of the Pacific Ocean that shifts global weather patterns, and climate change is making them stronger. Scientists expect the one underway to expand to supersized levels, and, in the past, they have resulted in extreme weather ranging from drought to flooding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact would be felt worldwide. Rice consumption in Africa has been growing steadily, and most countries are heavily dependent on imports. While nations with growing populations like Senegal have been trying to grow more of their own rice - many are struggling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amadou Khan, a 52-year-old unemployed father of five in Dakar, says his children eat rice with every meal except breakfast, which they often have to skip when he's out of work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“I am just getting by - sometimes, I’ve trouble taking care of my kids,” he said. Imported rice - 70% of which comes from India - has become prohibitively expensive in Senegal, so he's eating homegrown rice that costs two-thirds as much. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senegal will turn to other trading partners like Thailand or Cambodia for imports, though the West African country is not “far from being self-sufficient" on rice, with over half of its demand grown locally, Agriculture Ministry spokesperson Mamadou Aïcha Ndiaye said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Asian countries, where 90% of the world’s rice is grown and eaten, are struggling with production. The Philippines was carefully managing water in anticipation of less rain amid the El Nino when Typhoon Doksuri battered its northern rice-producing region, damaging $32 million worth of rice crops - an estimated 22% of its annual production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The archipelago nation is the second-largest importer of rice after China, and President Ferdinand Marcos Jr. has underscored the need to ensure adequate buffers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India’s rice restrictions also were motivated by erratic weather: An uneven monsoon along with a looming El Nino meant that the partial ban was needed to stop food prices from rising, Indian food policy expert Devinder Sharma said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The restrictions will take offline nearly half the country's usual rice exports this year, said Ashok Gulati of the Indian Council for Research on International Economic Relation. Repeated restrictions make India an unreliable exporter, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“That’s not good for the export business because it takes years to develop these markets,” Gulati said. Vietnam, another major rice exporter, is hoping to capitalize. With rice export prices at a 15-year high and expectations that annual production to be marginally higher than last year, the Southeast Asian nation is trying to keep domestic prices stable while boosting exports. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Agriculture Ministry says it's working to increase how much land in the Mekong Delta is dedicated to growing rice by around 500 square kilometers - an area larger than 90,000 football fields. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Already the Philippines is in talks with Vietnam to try to get the grain at lower prices, while Vietnam also looks to target the United Kingdom, which receives much of its rice from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But exporters like Charoen Laothamatas in neighboring Thailand are wary. The Thai government expects to ship more rice than it did last year, with its exports in the first six months of the year 15% higher than the same period of 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the lack of clarity about what India will do next and concerns about the El Nino means Thai exporters are reluctant to take orders, mill operators are unwilling to sell and farmers have increased the prices of unmilled rice, said Laothamatas, president of the Thai Rice Exporters Association. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With prices fluctuating, exporters don't know what prices to quote - because prices may spike again the next day. “And no one wants to take the risk,” Laothamatas said. – AP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'rice, price, soar, hike, India, export, ban, Africa, world', 'description' => '', 'sortorder' => '18552', 'image' => '20230824012334_ricee.jpg', 'article_date' => '2023-08-24 13:22:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18821', 'article_category_id' => '1', 'title' => 'SC Issues Interim Order not to Implement Constituency Infrastructure Development Fund', 'sub_title' => '', 'summary' => 'August 24: The Supreme Court has issued an interim order not to implement the infrastructure development programmes of the House of Representatives and all seven provincial assemblies mentioned in the budget of the current fiscal year (FY 2023/24).', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 24: The Supreme Court has issued an interim order not to implement the infrastructure development programmes of the House of Representatives and all seven provincial assemblies mentioned in the budget of the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Constitutional Bench of the Supreme Court issued the order on Wednesday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Responding to a writ petition filed by Advocate Trilok Bahadur Chand, the Constitutional Bench consisting of Chief Justice Bishwambhar Prasad Shrestha, justices Ishwar Prasad Khatiwada, Anand Mohan Bhattarai, Anil Kumar Sinha and Prakash Man Singh Raut issued the interim order not to implement the parliamentary Constituency Infrastructure Development Fund.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Considering the spirit of the constitution, the provision related to number 445 of the budget statement of the fiscal year 2023/24 and the provisions related to the parliamentary Constituency Infrastructure Development for the legislatures of all the seven provinces should not be implemented until the final hearing of this case,” reads the interim order issued on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget for the current fiscal year during a joint meeting of the House of Representatives and the National Assembly on May 29, Finance Minister Dr Prakash Sharan Mahat had mentioned that a budget of Rs 50 million has been set aside to implement infrastructure development programmes of the MPs in each constituency of the House of Representatives. Similarly, the state governments had also allocated budget to be spent on the plans recommended by the parliamentarians in the state assembly constituencies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has also demanded a written response from the federal government and the state governments within 7 days in this regard.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has commented that Nepal has adopted a democratic governance system based on the principle of separation of powers and that it is not appropriate for legislators to use the executive powers of the federal cabinet and state cabinet. The apex court pointed out that giving MPs the right to choose plans and allocate budget would be counterproductive to the constitutional system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The order states: 'It seems that the main work of the federal and state legislatures will be legislative in nature. It does not appear that federal parliamentarians or provincial assembly members are given the responsibility to perform executive functions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Supreme Court has warned that there will be a conflict of interest if the parliamentarians exercise their executive powers on issues that are not recommended by the National Planning Commission or the Provincial Planning Commission or the related ministries. It is said in the order, “When the parliamentarian themselves allocate funds in the name of infrastructure development of the parliamentary constituency, there will be a conflict of interest.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Supreme Court has mentioned that the issue of transparency and accountability should be taken into consideration while spending government funds in such programmes.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => 'Supreme, Court, Nepal, government, interim, order, writ, petition, constituency, infrastructure, development, fund, parliament, state, assembly, House, Representatives', 'description' => '', 'sortorder' => '18550', 'image' => '20230824112505_Supreme Court.jpg', 'article_date' => '2023-08-24 11:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18820', 'article_category_id' => '1', 'title' => 'Weather Likely to Improve by Saturday ', 'sub_title' => '', 'summary' => 'August 24: The monsoon rain is expected to persist for the next two to three days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 24: The monsoon rain is expected to persist for the next two to three days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division, it will take a couple of days for the weather to improve. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sivision's senior meteorologist Barun Poudel said that the ongoing precipitation is anticipated to continue until Friday with chances of heavy rains at one or two places, particularly in Koshi, Bagmati, and Gandaki provinces. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">T<span style="font-family:"Arial Unicode MS","sans-serif"">he division stated that the weather is generally to mostly cloudy throughout the country today with the possibility of light to moderate rainfall at some places of the country. Likewise, heavy rain with thunder and lightning is expected at one or two places of Koshi, Bagmati, Gandaki, Lumbini and Sudur Pashchim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the weather will be mostly cloudy throughout the country tonight while light to moderate rainfall is likely to occur at many places of the country. Heavy rain with thunder and lightning may take place at one or two places of Koshi, Madesh, Bagmati, Gandaki and Lumbini provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-24', 'modified' => '2023-08-24', 'keywords' => '', 'description' => '', 'sortorder' => '18549', 'image' => '20230824104947_rain.jpeg', 'article_date' => '2023-08-24 10:48:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
