July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon.…
July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon.…
The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial…
July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's…
Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali…
July 30: IME Pay has announced cashback offer on domestic…
The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular…
July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the…
July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest…
July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure…
July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and…
July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly.…
In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign…
Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year…
The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation…
July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported…
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', 'content' => '<p><span style="font-size:18px">July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. Speaking at a press meet organized by Press Centre Nepal Jhapa chapter on Sunday, Minister Kirati argued that aircraft are essential for prosperity of a landlocked country like Nepal. <br /> "Process is underway to purchase three new and two old aircraft which would arrive in Kathmandu soon," he informed during the programme. According to the minister, the country can achieve prosperity by exporting Nepali products through Nepal's 'connection flights'. <br /> He also informed that he was reducing the corruption cases at the ministry. He proudly shared that the ministry had succeeded in purchasing new aircraft after paying the loan of Rs 4 billion. "Corruption is sinister in our country. It must be extinguished," Minister Kirati said. <br /> He further said that a national policy on tourism was being prepared and that the Nepali airports should be made safe with strict adherence to rule. -- RSS</span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18331', 'image' => '20230731093909_20230730092447_20220701121020_NAC.jpg', 'article_date' => '2023-07-31 09:37:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18601', 'article_category_id' => '1', 'title' => 'CBFIN Urges Changes in Monetary Policies to Support Banking and Financial Sectors', 'sub_title' => '', 'summary' => 'The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">July 31: The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Issuing a press statement, CBFIN has demanded a reduction in the risk weightage of large loans and the elimination of the practice of counting short-term deposits as term deposits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN believes that the current system inadvertently treats savings deposits as term deposits, which results in increased costs for banks and financial institutions. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">This, in turn, hampers the expansion of long-term loans, and CBFIN has requested the removal of this system to promote more accessible credit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN has expressed its support for reducing the risk burden on small loans, aiming to facilitate credit access for domestic small and medium industries and boost sustainable economic activities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">However, they objected to the imposition of service fees for loan investments, stating that while providing credit to the productive sector at a 2 percent premium is a positive move, additional fees for banks are not appropriate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The confederation has urged the gradual conversion of founder/promoter shares into ordinary shares in compliance with the Bank and Financial Institutions Act (BAFIA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Additionally, CBFIN has called for flexibility in meeting the target of the current financial year, as banks and financial institutions may find it challenging to cope with increasing staff and operating expenses with a credit expansion of only 3.5 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">To achieve the target of an 11.5 percent loan expansion, CBFIN emphasized the need for flexibility in terms of capital adequacy, risk management, and sectoral limits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Regarding digital banking licenses, CBFIN requested that no further licenses be issued since banks already provide digital services. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The issuance of such licenses has led to a trend of non-payment of interest, and CBFIN believes that banks' existing digital services are sufficient.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> CBFIN welcomed the monetary policy system's aim to amend the law to control chaotic activities of banks and financial institutions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18330', 'image' => '20230731055144_collage (2).jpg', 'article_date' => '2023-07-31 05:49:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18599', 'article_category_id' => '1', 'title' => 'NRB Governor Defends 'Liberal' Monetary Policy', 'sub_title' => '', 'summary' => 'July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"The policy prioritizes a liberal approach in terms of the interests of bank loans when most of the banks in the world adhere to the right policy," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In his address to the post-Monetary Policy discussions organized by the IBN Media on Sunday, the Governor argued that there was a compelling ground to opt for a liberal economic policy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The interest rate has been lowered from 7 percent to 6.5 percent. This liberal policy was taken upon analyzing the prevailing situation. One of the contributing factors for this reduction is the ease in liquidity, according to the Governor who said the Monetary Policy also aimed to uplift the real estate sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He went on to say that the Monetary Policy aims to keep the rise in BFIs credit to the private sector within the limit of 11.5 percent and limit inflation to 6.5 percent by pursuing 6 percent economic growth.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Stating that the NRB has set a target of recording credit disbursements worth Rs 562 billion and this target is not determined by the ambitious mindset, he said instead it is based on the analysis of monetary indicators. He claimed this figure is calculated based on the improvement in liquidity, reduced interest rates, the situation of remittance inflow and the programs to improve the expenditure of the government budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">It may be noted that last fiscal year, BFIs credit to the private sector rose by 3 percentage points against the projection of 12.2 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The NRB stated that the government's inability for capital expenditure as per the expectations, minimum economic growth and shrinking liquidity were major contributors to discouraging the expansion of credit disbursements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">On the occasion, Nepal Bankers' Association President Sunil KC said that if the Rs 562 billion target of loan disbursement was centered on production-based and small and medium-scale industries, it would contribute to improving the economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said the provision to offer a fixed deposit collection facility at a lower interest rate corridor aiming to increase the effectiveness of interest corridors is positive.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Monetary Policy includes the provision of bringing the micro stress testing framework in evaluating the quality of assets in the banking sector, reducing the credit risks, and assessing the possible pressure in the financial sector due to overall economic fluctuations, said KC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"The monetary policy has accommodated issues like the facility of permanent deposit collection, bringing the micro stress testing framework and the development of the central consumer identification system that would associate the national identity card with the central consumer identity (centralized KYC) system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Former banker Analraj Bhattarai cast his doubt over the achievement of the economic growth target set by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">NRB Executive Director Prakash Shrestha stressed the need for increasing the size of capital expenditures and stimulating the market to meet the target of loan expansion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18328', 'image' => '20230730091819_HB_KTM-_IMG_4117.jpg', 'article_date' => '2023-07-30 21:17:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18598', 'article_category_id' => '1', 'title' => 'Luxury British Perfume House Clive Christian Unveils 'Town & Country' Perfume in Nepal', 'sub_title' => '', 'summary' => 'Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 28: Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The launch event was hosted by INA Center Nepal P. Ltd at the Babar Mahal Revisited in Kathmandu on July 27th, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">'Town & Country' holds a rich legacy as the scent is said to have been worn by iconic Winston Churchill, and it has remained a quintessential choice among British and global royalty, celebrities, and influencers alike.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> This exquisite perfume has been reimagined, staying true to Clive Christian's signature hallmarks of complexity, concentration, and an unwavering commitment to using the finest ingredients, making it the perfect companion for self-expression.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The history of Clive Christian traces back to its predecessor, the Crown Perfumery Company, founded in 1872, which received the rare privilege of using Queen Victoria's crown image on its bottles—an emblem that continues to define every bottle of Clive Christian perfume to this day.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">With a widespread global presence, Clive Christian perfumes are available at renowned retailers such as Harrods, Harvey Nichols, Net-A-Porter, Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, and Trung La Rinascente. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The brand's headquarters is located in the Mayfair district of London.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18327', 'image' => '20230730061515_collage (1).jpg', 'article_date' => '2023-07-30 18:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18597', 'article_category_id' => '266', 'title' => 'IME Pay Announces Cashback on Air Tickets', 'sub_title' => '', 'summary' => 'July 30: IME Pay has announced cashback offer on domestic flights.', 'content' => '<h1><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 30: IME Pay has announced cashback offer on domestic flights. Under this offer, customers can get Rs 200 as cashback everyday for booking evening flights between 4 pm to 6 pm.</span></span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">This offer will last until August 11. According to the company, the discount will be available on the tickets of all domestic airlines connected to the payment system. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Customers who buy airline tickets within this offer period will get the cashback along with additional discount available by using promo code.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18326', 'image' => '20230730042758_1690680323.jpg', 'article_date' => '2023-07-30 16:27:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18596', 'article_category_id' => '1', 'title' => 'Landslide Blocks Narayangadh-Muglin Road Again', 'sub_title' => '', 'summary' => 'The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 30: The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The incident took place at around 9:00 am on Sunday near Kalikhola of Ichchhakamana rural municipality-6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">According to Deputy Superintendent of Police Bijay Raj Pandit, who serves as the Spokesperson for the District Police Office, Chitwan, the landslide made the highway impassable for vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Despite ongoing efforts to clear the road and restore traffic flow, subsequent landslips have made it hard to ensure safe passage for commuters. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The Narayangadh-Muglin road has experienced frequent disruptions due to landslides in the past. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18325', 'image' => '20230730041945_collage.jpg', 'article_date' => '2023-07-30 16:18:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18595', 'article_category_id' => '1', 'title' => 'Government Implements New Procedure to Allow Operation of In-flight Shops Inside Aircraft', 'sub_title' => '', 'summary' => 'July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights.', '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"">July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights. The Ministry of Culture, Tourism and Civil Aviation has implemented the 'On Board Duty Paid Store Operation Procedure-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. Along with this, the international airline companies of Nepal will be allowed to operate shops inside the aircraft.</span></span></span></span></p> <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 ministry has already published the procedure and implemented it. Currently, Nepal Airlines Corporation and Himalaya Airlines from the private sector are operating international flights. Now these airlines will be allowed to operate such shops inside the aircraft during the flight after taking approval from the ministry. The ministry said that the operation of shops inside the aircraft during the flight will generate additional income for the airlines.</span></span></span></span></p> <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 ministry said that such a procedure has been implemented with the aim of making the air service more effective, robust and sustainable and to help in revenue collection and foreign exchange earnings. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the new procedure, a shop can be operated for the sale of taxed items inside the flying aircraft. In order to operate such a service, the airline company has to submit an application to the ministry with the financial and technical feasibility of the service. The vendor selection process, the process to be followed to maintain the quality of items should also be mentioned in the application.</span></span></span></span></p> <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, there is a provision in the procedure for the airline companies to obtain prior approval from the customs office of the relevant airport for the sale of materials. Regarding the operation of such services, the airliners must follow the Revenue Leakage (Investigation and Control) Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Value Added Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Income Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2058</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the regulations, procedures and guidelines made under those acts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the procedure, the progress report of this service should be submitted to the ministry on a quarterly basis. Airlines implementing this service must also comply with the rules of the Civil Aviation Authority of Nepal as well as the Airport Service Fee Regulations-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They must also follow the procedures and o ther safety standards mentioned in the International Civil Aviation Organization (ICAO) rules.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18324', 'image' => '20230730030720_20221031011343_1667187471.उडान रद्द हुँदा नयाँ दिल्ली जान लागेका २५४ यात्रु अलपत्र.jpg', 'article_date' => '2023-07-30 15:06:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18594', 'article_category_id' => '1', 'title' => 'Insurance Coverage Increases to 44 Percent of Nepal’s Population ', 'sub_title' => '', 'summary' => 'July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data. Nepal Insurance Authority confirmed that more than 44 percent of citizens have access to insurance as of mid-June of the current fiscal year. The scope of insurance including foreign employment term life insurance has extended to 44.20 percent of citizens, reveals the NIA data. Similarly, 38.99 percent of the population is covered by insurance other than foreign employment term life insurance. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the authority, the coverage of term life insurance in the same period of the previous year was 39.95 percent. Apart from foreign employment term life insurance, the scope of insurance was extended to 37.04 percent of the population during last FY. According to the National Census 2078, the population of Nepal is 29,164,578. With the scope of insurance reaching 44.20 percent, there are 12,890,743 citizens covered by insurance.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In the year 2075/76, only 23 percent of Nepal's population had access to insurance. There has been a significant improvement in access to insurance over a period of five years. Chief Executive Officer (CEO) of Nepal Life Insurance Limited, Pravina Raman Parajuli says that insurance companies and authorities had played a crucial role in improving the access to insurance in a period of five years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"In the expansion of the coverage of insurance, the insurance companies as well as the regulatory body played an equally important role. Similarly, various insurance awareness programs up to the grassroots level have had an important role in expanding the scope of the state's policy,"</span> said Parajuli.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Parajuli says that most of the citizens took insurance coverage to reduce the risk after the earthquakes of 2015. At that time, the earthquake had 'triggered' citizens to opt for insurance coverage. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Nepal Insurance Authority spokesperson Raju Raman Paudel says that the main role of the authority, insurance companies and insurance agents is to expand the scope of insurance. He said, "In five years, the scope of insurance has increased a lot. Insurance awareness is the main reason for expansion in the scope of insurance." Paudel says that in these five years, insurance companies have also expanded their branches and sub-branches and reached villages. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"Insurance agents also went to villages and did their work, so the access to insurance increased from 23 percent to over 44 percent in five years,"</span> added Poudel.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18323', 'image' => '20230730012854_Insurance.jpg', 'article_date' => '2023-07-30 13:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18593', 'article_category_id' => '1', 'title' => 'Experts Suggest Keeping National Interest in Centre while Receiving Foreign Aid ', 'sub_title' => '', 'summary' => 'July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by the Centre for Social Inclusion and Federalism on Friday, the experts made it clear that donor agencies were imposing their interest while extending assistance all because of weak the bargaining capacity of government employees. The loan and assistance must be received by keeping national interest in centre, they underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former secretary Lal Shankar Ghimire made it clear that no donor agency extends assistance without any interest. </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"">"In a way or other, there is certainly interest in 80 percent of foreign assistance to Nepal. So, there is no difference between loan and grants," Ghimire said, arguing that we failed to take a strong stance while receiving foreign loan and grants. </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"">The former secretary wondered why we take foreign grants and loan as achievement while it takes at least one to five years to complete the loan and grants cycle. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former secretary of the Government of Nepal Dipendra Nath Sharma said that the National Planning Commission needs to monitor infrastructure projects effectively.</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"">“An effective monitoring of implementation of project within timeframe, and accountability among concerned agencies for project implementation is imperative,” he said arguing that the Public Procurement Office was not functioning up to the mark. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Director at IIDS, Sucheta Pyakurel, said the economic indicators were not negative. It can be taken as political dimension as well. She however said, "Nepal is an economically weak country, where the project built on foreign assistance makes it weaker." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government's economic status should be considered while accepting foreign assistance for infrastructures, she suggested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former officer for external affairs at World Bank, Rajiv Upadhyay, opined that resource was shrinking recently. Global geopolitics was getting centered on economy, he added. Similarly, he informed that the military budget was increasing in most of the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the event, a report on 'China's Emergence on Nepal's Infrastructures: Status, problems and Challenges' was also presented. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18322', 'image' => '20230730124631_20230126012032_Foreign investment.jpg', 'article_date' => '2023-07-30 12:45:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18592', 'article_category_id' => '1', 'title' => 'Beware of Fake Assurance of Employment in Thailand and Myanmar: Foreign Ministry ', 'sub_title' => '', 'summary' => 'July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Friday, the ministry urged all not to be swayed by the false assurance of attractive job in IT sector in Thailand and Myanmar because the Nepalis were found taken hostage in Kayin Province of Myanmar and forced to be involve in illegal activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that Nepali citizens were lured in foreign job by assuring them hefty amount but were forcefully involved in the activities prohibited by Nepal government as per the existing law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis have been requested not to visit abroad on tourist and visit visa while going for employment. A legal labour permit is essential to go abroad for job, the ministry cautioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Foreign Ministry, the fraudsters had seized passports of the Nepali citizens on the pretext of taking them to Myanmar from Thailand in an illegal way. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis falling victims to such fraudsters are requested to communicate with the ministry at the emails eonbangkok@mofa.gov.np; eonyangon@mofa.gov.np; or call at +66-869915554, +95-1-545880 and +95-1-557168. Similarly, they can contact the Embassy of Nepal in Bangkok, Embassy of Nepal in Yangon Myanmar, the ministry added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18321', 'image' => '20230730121031_MOFA.jpg', 'article_date' => '2023-07-30 12:09:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18591', 'article_category_id' => '1', 'title' => 'Imports of Fuel-Powered Vehicles Declines', 'sub_title' => '', 'summary' => 'July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. While the import of fuel-powered jeep, cars and vans has decreased, the import of electric vehicles has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data kept by the Birgunj Customs Office on its website, the import of vehicles such as jeeps, cars and vans decreased in the last fiscal year (FY 2022/23) compared to the FY 2021/22.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Birgunj Customs Officer Ram Chandra Dhakal informed that 1,110 four wheelers including jeeps, cars and vans entered through this checkpoint last year. This number was 5,674 the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs officials, the import has decreased because the government had banned the import of vehicles last year because of the decline in foreign exchange reserves. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although the government has lifted the restrictions, imports have not increased. Due to the lack of demand in the market and the reluctance of banks to invest in the automobile sector, the import of vehicles has not increased despite the lifting of the ban, according to the traders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">On the other hand, the import of electric vehicles has increased. In the last fiscal year, the import of EVs increased by 127 percent. In the review year, 361 such vehicles were imported into the country. The number was 159 in the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, the import of unassembled motorcycles has increased after the motorcycle assembling plant started operating in the country last year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs office, 25,248 units of unassembled motorcycles were imported in the year 2021/22, while this number decreased to 18,333 in the last year. Imports of pickups vans, trucks-buses, ready-made motorcycles, vehicle parts, etc also seem to have decreased.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18320', 'image' => '20230730114154_nada.jpg', 'article_date' => '2023-07-30 11:40:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18590', 'article_category_id' => '1', 'title' => '322 Industries Registered with Department of Industry in FY 2022/2023', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 29: In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These registered industries proposed a total investment of Rs 214 billion. The department stated that newly-registered industries would create 23,324 jobs. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the registered industries, 66 are large-scale industries, 70 medium-scale industries, and 186 small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the Industrial Enterprise Act, 2076, industries with a stable(fixed) capital of over Rs 500 million are categorized as large-scale, those with a fixed capital between Rs 150 million to Rs 500 million are classified as medium-scale, and those with a capital of up to Rs 150 million are categorized as small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the Department of Industry, five patents and 18 designs were registered in the last year. Similarly, the number of registered trademarks reached 3,254. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last one year, the department took action against 150 companies on cases related to trademark. Additionally, 82 Initial Environmental Examinations(IEE) were approved. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the same period, 404 industries were certified by the department to receive cash grants for export promotion (Value Addition). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For India-bound exports, 98 certificates of origin were recommended. The number of foreign investments approved by the Department of Industry in the last fiscal year was 327. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The department revealed that it received proposals for a total of Rs 33.14 billion foreign investments from the those industries.</span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18319', 'image' => '20230730060214_collage (1).jpg', 'article_date' => '2023-07-30 06:00:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18589', 'article_category_id' => '1', 'title' => 'NRB Issues Unified Directives with Key Provisions', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The counter cyclical buffer is aimed at managing the capital fund adequacy of banks. National level development banks and commercial banks are required to implement this provision based on the Capital Adequacy Framework, 2015. The buffer rate is determined by the difference between Gross Domestic Production (GDP) and net loan flow.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRB explains that the counter cyclical buffer helps control excessive loan outflows and is crucial in managing potential crises in banks and financial institutions. This provision was introduced by the Basel Committee on Banking Supervision to protect financial institutions from risks and align their representation with the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition, NRB has made it mandatory for banks and financial institutions to obtain the Permanent Account Number (PAN) for loans of Rs 2.5 million or above from borrowers, either in a lump sum or separately. Previously, PAN was required for loans of Rs 5 million or more.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Unified Directive has set the lowest threshold of the interest rate corridor for deposit collection at 4.5 percent, a decrease of one percentage point. Additionally, the repo rate has also been reduced by 0.50 percentage points.</span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18318', 'image' => '20230728061907_collage (6).jpg', 'article_date' => '2023-07-28 18:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18588', 'article_category_id' => '1', 'title' => 'NTUC Urges the Government to Fix Minimum Wage for Workers Soon', 'sub_title' => '', 'summary' => 'The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a press release, the NTUC General-Secretary Ajay Kumar Rai said that minimum wages of workers, which should be determined based on tripartite consensus in every years as per the Labour Act, 2074, has not been implemented yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has demanded that the government promptly convene a meeting of the Board to determine the minimum wages. The trade union congress has expressed serious concerns since the wages shave not been revised even after the second week of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has been advocating to fix minimum wage of Rs 25,000 for workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC urged the government not to make any delays in fixing the minimum wages for workers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18317', 'image' => '20230728044749_collage (4).jpg', 'article_date' => '2023-07-28 16:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18587', 'article_category_id' => '1', 'title' => 'IMF Delegation Expects Nepal’s Economy to Grow in Current FY', 'sub_title' => 'Cautious Implementation of Budget is Important: IMF', 'summary' => 'July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement towards the end of the visit, the team leader Kinda said that the country’s economic growth rate is expected to improve in the current fiscal year (FY 2023/24).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following an economic slowdown last year, growth is projected to rebound in FY 2023/24, inflation is expected to recede, and the external position will continue to strengthen. Cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability,” reads the statement</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability. Continued vigilance on banks’ asset quality and stepping up supervisory efforts remain key to preserving financial stability, added Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, he has pointed out that prudent implementation of the current fiscal year's budget as an important part of securing financial sustainability. He said that the implementation of the measures adopted through the current FY’s budget will improve the efficiency of capital expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The team said that the monetary policy introduced by Nepal Rastra Bank for the current financial year is aimed at external sector stability and price increase control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing efforts of the authorities to fulfill the major commitments under the IMF-supported programmes with the technical assistance of the International Monetary Fund are welcome, said Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that the performance under the program will be formally assessed in the context of the third review of the Extended Credit Facility, which is expected to be undertaken later this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF team expressed its gratefulness to the authorities in Nepal for their hospitality and constructive discussions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The IMF team is grateful to the Nepali authorities for their hospitality and for constructive discussions. The IMF team held meetings with the Honorable Minister of Finance Dr Prakash Sharan Mahat, the Nepal Rastra Bank Governor Maha Prasad Adhikari, the National Planning Commission Vice-Chairman Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners,” added the statement.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18316', 'image' => '20230728032218_1690506562.1683679929.imf[1].jpg', 'article_date' => '2023-07-28 15:21:27', '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' => '18602', 'article_category_id' => '1', 'title' => 'New Jets Soon: Minister Kirati ', 'sub_title' => '', 'summary' => 'July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. ', 'content' => '<p><span style="font-size:18px">July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. Speaking at a press meet organized by Press Centre Nepal Jhapa chapter on Sunday, Minister Kirati argued that aircraft are essential for prosperity of a landlocked country like Nepal. <br /> "Process is underway to purchase three new and two old aircraft which would arrive in Kathmandu soon," he informed during the programme. According to the minister, the country can achieve prosperity by exporting Nepali products through Nepal's 'connection flights'. <br /> He also informed that he was reducing the corruption cases at the ministry. He proudly shared that the ministry had succeeded in purchasing new aircraft after paying the loan of Rs 4 billion. "Corruption is sinister in our country. It must be extinguished," Minister Kirati said. <br /> He further said that a national policy on tourism was being prepared and that the Nepali airports should be made safe with strict adherence to rule. -- RSS</span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18331', 'image' => '20230731093909_20230730092447_20220701121020_NAC.jpg', 'article_date' => '2023-07-31 09:37:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18601', 'article_category_id' => '1', 'title' => 'CBFIN Urges Changes in Monetary Policies to Support Banking and Financial Sectors', 'sub_title' => '', 'summary' => 'The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">July 31: The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Issuing a press statement, CBFIN has demanded a reduction in the risk weightage of large loans and the elimination of the practice of counting short-term deposits as term deposits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN believes that the current system inadvertently treats savings deposits as term deposits, which results in increased costs for banks and financial institutions. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">This, in turn, hampers the expansion of long-term loans, and CBFIN has requested the removal of this system to promote more accessible credit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN has expressed its support for reducing the risk burden on small loans, aiming to facilitate credit access for domestic small and medium industries and boost sustainable economic activities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">However, they objected to the imposition of service fees for loan investments, stating that while providing credit to the productive sector at a 2 percent premium is a positive move, additional fees for banks are not appropriate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The confederation has urged the gradual conversion of founder/promoter shares into ordinary shares in compliance with the Bank and Financial Institutions Act (BAFIA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Additionally, CBFIN has called for flexibility in meeting the target of the current financial year, as banks and financial institutions may find it challenging to cope with increasing staff and operating expenses with a credit expansion of only 3.5 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">To achieve the target of an 11.5 percent loan expansion, CBFIN emphasized the need for flexibility in terms of capital adequacy, risk management, and sectoral limits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Regarding digital banking licenses, CBFIN requested that no further licenses be issued since banks already provide digital services. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The issuance of such licenses has led to a trend of non-payment of interest, and CBFIN believes that banks' existing digital services are sufficient.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> CBFIN welcomed the monetary policy system's aim to amend the law to control chaotic activities of banks and financial institutions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18330', 'image' => '20230731055144_collage (2).jpg', 'article_date' => '2023-07-31 05:49:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18599', 'article_category_id' => '1', 'title' => 'NRB Governor Defends 'Liberal' Monetary Policy', 'sub_title' => '', 'summary' => 'July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"The policy prioritizes a liberal approach in terms of the interests of bank loans when most of the banks in the world adhere to the right policy," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In his address to the post-Monetary Policy discussions organized by the IBN Media on Sunday, the Governor argued that there was a compelling ground to opt for a liberal economic policy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The interest rate has been lowered from 7 percent to 6.5 percent. This liberal policy was taken upon analyzing the prevailing situation. One of the contributing factors for this reduction is the ease in liquidity, according to the Governor who said the Monetary Policy also aimed to uplift the real estate sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He went on to say that the Monetary Policy aims to keep the rise in BFIs credit to the private sector within the limit of 11.5 percent and limit inflation to 6.5 percent by pursuing 6 percent economic growth.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Stating that the NRB has set a target of recording credit disbursements worth Rs 562 billion and this target is not determined by the ambitious mindset, he said instead it is based on the analysis of monetary indicators. He claimed this figure is calculated based on the improvement in liquidity, reduced interest rates, the situation of remittance inflow and the programs to improve the expenditure of the government budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">It may be noted that last fiscal year, BFIs credit to the private sector rose by 3 percentage points against the projection of 12.2 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The NRB stated that the government's inability for capital expenditure as per the expectations, minimum economic growth and shrinking liquidity were major contributors to discouraging the expansion of credit disbursements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">On the occasion, Nepal Bankers' Association President Sunil KC said that if the Rs 562 billion target of loan disbursement was centered on production-based and small and medium-scale industries, it would contribute to improving the economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said the provision to offer a fixed deposit collection facility at a lower interest rate corridor aiming to increase the effectiveness of interest corridors is positive.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Monetary Policy includes the provision of bringing the micro stress testing framework in evaluating the quality of assets in the banking sector, reducing the credit risks, and assessing the possible pressure in the financial sector due to overall economic fluctuations, said KC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"The monetary policy has accommodated issues like the facility of permanent deposit collection, bringing the micro stress testing framework and the development of the central consumer identification system that would associate the national identity card with the central consumer identity (centralized KYC) system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Former banker Analraj Bhattarai cast his doubt over the achievement of the economic growth target set by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">NRB Executive Director Prakash Shrestha stressed the need for increasing the size of capital expenditures and stimulating the market to meet the target of loan expansion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18328', 'image' => '20230730091819_HB_KTM-_IMG_4117.jpg', 'article_date' => '2023-07-30 21:17:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18598', 'article_category_id' => '1', 'title' => 'Luxury British Perfume House Clive Christian Unveils 'Town & Country' Perfume in Nepal', 'sub_title' => '', 'summary' => 'Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 28: Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The launch event was hosted by INA Center Nepal P. Ltd at the Babar Mahal Revisited in Kathmandu on July 27th, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">'Town & Country' holds a rich legacy as the scent is said to have been worn by iconic Winston Churchill, and it has remained a quintessential choice among British and global royalty, celebrities, and influencers alike.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> This exquisite perfume has been reimagined, staying true to Clive Christian's signature hallmarks of complexity, concentration, and an unwavering commitment to using the finest ingredients, making it the perfect companion for self-expression.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The history of Clive Christian traces back to its predecessor, the Crown Perfumery Company, founded in 1872, which received the rare privilege of using Queen Victoria's crown image on its bottles—an emblem that continues to define every bottle of Clive Christian perfume to this day.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">With a widespread global presence, Clive Christian perfumes are available at renowned retailers such as Harrods, Harvey Nichols, Net-A-Porter, Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, and Trung La Rinascente. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The brand's headquarters is located in the Mayfair district of London.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18327', 'image' => '20230730061515_collage (1).jpg', 'article_date' => '2023-07-30 18:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18597', 'article_category_id' => '266', 'title' => 'IME Pay Announces Cashback on Air Tickets', 'sub_title' => '', 'summary' => 'July 30: IME Pay has announced cashback offer on domestic flights.', 'content' => '<h1><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 30: IME Pay has announced cashback offer on domestic flights. Under this offer, customers can get Rs 200 as cashback everyday for booking evening flights between 4 pm to 6 pm.</span></span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">This offer will last until August 11. According to the company, the discount will be available on the tickets of all domestic airlines connected to the payment system. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Customers who buy airline tickets within this offer period will get the cashback along with additional discount available by using promo code.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18326', 'image' => '20230730042758_1690680323.jpg', 'article_date' => '2023-07-30 16:27:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18596', 'article_category_id' => '1', 'title' => 'Landslide Blocks Narayangadh-Muglin Road Again', 'sub_title' => '', 'summary' => 'The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 30: The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The incident took place at around 9:00 am on Sunday near Kalikhola of Ichchhakamana rural municipality-6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">According to Deputy Superintendent of Police Bijay Raj Pandit, who serves as the Spokesperson for the District Police Office, Chitwan, the landslide made the highway impassable for vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Despite ongoing efforts to clear the road and restore traffic flow, subsequent landslips have made it hard to ensure safe passage for commuters. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The Narayangadh-Muglin road has experienced frequent disruptions due to landslides in the past. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18325', 'image' => '20230730041945_collage.jpg', 'article_date' => '2023-07-30 16:18:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18595', 'article_category_id' => '1', 'title' => 'Government Implements New Procedure to Allow Operation of In-flight Shops Inside Aircraft', 'sub_title' => '', 'summary' => 'July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights.', '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"">July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights. The Ministry of Culture, Tourism and Civil Aviation has implemented the 'On Board Duty Paid Store Operation Procedure-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. Along with this, the international airline companies of Nepal will be allowed to operate shops inside the aircraft.</span></span></span></span></p> <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 ministry has already published the procedure and implemented it. Currently, Nepal Airlines Corporation and Himalaya Airlines from the private sector are operating international flights. Now these airlines will be allowed to operate such shops inside the aircraft during the flight after taking approval from the ministry. The ministry said that the operation of shops inside the aircraft during the flight will generate additional income for the airlines.</span></span></span></span></p> <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 ministry said that such a procedure has been implemented with the aim of making the air service more effective, robust and sustainable and to help in revenue collection and foreign exchange earnings. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the new procedure, a shop can be operated for the sale of taxed items inside the flying aircraft. In order to operate such a service, the airline company has to submit an application to the ministry with the financial and technical feasibility of the service. The vendor selection process, the process to be followed to maintain the quality of items should also be mentioned in the application.</span></span></span></span></p> <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, there is a provision in the procedure for the airline companies to obtain prior approval from the customs office of the relevant airport for the sale of materials. Regarding the operation of such services, the airliners must follow the Revenue Leakage (Investigation and Control) Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Value Added Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Income Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2058</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the regulations, procedures and guidelines made under those acts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the procedure, the progress report of this service should be submitted to the ministry on a quarterly basis. Airlines implementing this service must also comply with the rules of the Civil Aviation Authority of Nepal as well as the Airport Service Fee Regulations-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They must also follow the procedures and o ther safety standards mentioned in the International Civil Aviation Organization (ICAO) rules.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18324', 'image' => '20230730030720_20221031011343_1667187471.उडान रद्द हुँदा नयाँ दिल्ली जान लागेका २५४ यात्रु अलपत्र.jpg', 'article_date' => '2023-07-30 15:06:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18594', 'article_category_id' => '1', 'title' => 'Insurance Coverage Increases to 44 Percent of Nepal’s Population ', 'sub_title' => '', 'summary' => 'July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data. Nepal Insurance Authority confirmed that more than 44 percent of citizens have access to insurance as of mid-June of the current fiscal year. The scope of insurance including foreign employment term life insurance has extended to 44.20 percent of citizens, reveals the NIA data. Similarly, 38.99 percent of the population is covered by insurance other than foreign employment term life insurance. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the authority, the coverage of term life insurance in the same period of the previous year was 39.95 percent. Apart from foreign employment term life insurance, the scope of insurance was extended to 37.04 percent of the population during last FY. According to the National Census 2078, the population of Nepal is 29,164,578. With the scope of insurance reaching 44.20 percent, there are 12,890,743 citizens covered by insurance.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In the year 2075/76, only 23 percent of Nepal's population had access to insurance. There has been a significant improvement in access to insurance over a period of five years. Chief Executive Officer (CEO) of Nepal Life Insurance Limited, Pravina Raman Parajuli says that insurance companies and authorities had played a crucial role in improving the access to insurance in a period of five years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"In the expansion of the coverage of insurance, the insurance companies as well as the regulatory body played an equally important role. Similarly, various insurance awareness programs up to the grassroots level have had an important role in expanding the scope of the state's policy,"</span> said Parajuli.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Parajuli says that most of the citizens took insurance coverage to reduce the risk after the earthquakes of 2015. At that time, the earthquake had 'triggered' citizens to opt for insurance coverage. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Nepal Insurance Authority spokesperson Raju Raman Paudel says that the main role of the authority, insurance companies and insurance agents is to expand the scope of insurance. He said, "In five years, the scope of insurance has increased a lot. Insurance awareness is the main reason for expansion in the scope of insurance." Paudel says that in these five years, insurance companies have also expanded their branches and sub-branches and reached villages. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"Insurance agents also went to villages and did their work, so the access to insurance increased from 23 percent to over 44 percent in five years,"</span> added Poudel.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18323', 'image' => '20230730012854_Insurance.jpg', 'article_date' => '2023-07-30 13:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18593', 'article_category_id' => '1', 'title' => 'Experts Suggest Keeping National Interest in Centre while Receiving Foreign Aid ', 'sub_title' => '', 'summary' => 'July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by the Centre for Social Inclusion and Federalism on Friday, the experts made it clear that donor agencies were imposing their interest while extending assistance all because of weak the bargaining capacity of government employees. The loan and assistance must be received by keeping national interest in centre, they underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former secretary Lal Shankar Ghimire made it clear that no donor agency extends assistance without any interest. </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"">"In a way or other, there is certainly interest in 80 percent of foreign assistance to Nepal. So, there is no difference between loan and grants," Ghimire said, arguing that we failed to take a strong stance while receiving foreign loan and grants. </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"">The former secretary wondered why we take foreign grants and loan as achievement while it takes at least one to five years to complete the loan and grants cycle. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former secretary of the Government of Nepal Dipendra Nath Sharma said that the National Planning Commission needs to monitor infrastructure projects effectively.</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"">“An effective monitoring of implementation of project within timeframe, and accountability among concerned agencies for project implementation is imperative,” he said arguing that the Public Procurement Office was not functioning up to the mark. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Director at IIDS, Sucheta Pyakurel, said the economic indicators were not negative. It can be taken as political dimension as well. She however said, "Nepal is an economically weak country, where the project built on foreign assistance makes it weaker." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government's economic status should be considered while accepting foreign assistance for infrastructures, she suggested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former officer for external affairs at World Bank, Rajiv Upadhyay, opined that resource was shrinking recently. Global geopolitics was getting centered on economy, he added. Similarly, he informed that the military budget was increasing in most of the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the event, a report on 'China's Emergence on Nepal's Infrastructures: Status, problems and Challenges' was also presented. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18322', 'image' => '20230730124631_20230126012032_Foreign investment.jpg', 'article_date' => '2023-07-30 12:45:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18592', 'article_category_id' => '1', 'title' => 'Beware of Fake Assurance of Employment in Thailand and Myanmar: Foreign Ministry ', 'sub_title' => '', 'summary' => 'July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Friday, the ministry urged all not to be swayed by the false assurance of attractive job in IT sector in Thailand and Myanmar because the Nepalis were found taken hostage in Kayin Province of Myanmar and forced to be involve in illegal activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that Nepali citizens were lured in foreign job by assuring them hefty amount but were forcefully involved in the activities prohibited by Nepal government as per the existing law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis have been requested not to visit abroad on tourist and visit visa while going for employment. A legal labour permit is essential to go abroad for job, the ministry cautioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Foreign Ministry, the fraudsters had seized passports of the Nepali citizens on the pretext of taking them to Myanmar from Thailand in an illegal way. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis falling victims to such fraudsters are requested to communicate with the ministry at the emails eonbangkok@mofa.gov.np; eonyangon@mofa.gov.np; or call at +66-869915554, +95-1-545880 and +95-1-557168. Similarly, they can contact the Embassy of Nepal in Bangkok, Embassy of Nepal in Yangon Myanmar, the ministry added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18321', 'image' => '20230730121031_MOFA.jpg', 'article_date' => '2023-07-30 12:09:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18591', 'article_category_id' => '1', 'title' => 'Imports of Fuel-Powered Vehicles Declines', 'sub_title' => '', 'summary' => 'July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. While the import of fuel-powered jeep, cars and vans has decreased, the import of electric vehicles has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data kept by the Birgunj Customs Office on its website, the import of vehicles such as jeeps, cars and vans decreased in the last fiscal year (FY 2022/23) compared to the FY 2021/22.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Birgunj Customs Officer Ram Chandra Dhakal informed that 1,110 four wheelers including jeeps, cars and vans entered through this checkpoint last year. This number was 5,674 the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs officials, the import has decreased because the government had banned the import of vehicles last year because of the decline in foreign exchange reserves. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although the government has lifted the restrictions, imports have not increased. Due to the lack of demand in the market and the reluctance of banks to invest in the automobile sector, the import of vehicles has not increased despite the lifting of the ban, according to the traders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">On the other hand, the import of electric vehicles has increased. In the last fiscal year, the import of EVs increased by 127 percent. In the review year, 361 such vehicles were imported into the country. The number was 159 in the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, the import of unassembled motorcycles has increased after the motorcycle assembling plant started operating in the country last year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs office, 25,248 units of unassembled motorcycles were imported in the year 2021/22, while this number decreased to 18,333 in the last year. Imports of pickups vans, trucks-buses, ready-made motorcycles, vehicle parts, etc also seem to have decreased.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18320', 'image' => '20230730114154_nada.jpg', 'article_date' => '2023-07-30 11:40:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18590', 'article_category_id' => '1', 'title' => '322 Industries Registered with Department of Industry in FY 2022/2023', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 29: In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These registered industries proposed a total investment of Rs 214 billion. The department stated that newly-registered industries would create 23,324 jobs. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the registered industries, 66 are large-scale industries, 70 medium-scale industries, and 186 small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the Industrial Enterprise Act, 2076, industries with a stable(fixed) capital of over Rs 500 million are categorized as large-scale, those with a fixed capital between Rs 150 million to Rs 500 million are classified as medium-scale, and those with a capital of up to Rs 150 million are categorized as small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the Department of Industry, five patents and 18 designs were registered in the last year. Similarly, the number of registered trademarks reached 3,254. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last one year, the department took action against 150 companies on cases related to trademark. Additionally, 82 Initial Environmental Examinations(IEE) were approved. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the same period, 404 industries were certified by the department to receive cash grants for export promotion (Value Addition). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For India-bound exports, 98 certificates of origin were recommended. The number of foreign investments approved by the Department of Industry in the last fiscal year was 327. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The department revealed that it received proposals for a total of Rs 33.14 billion foreign investments from the those industries.</span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18319', 'image' => '20230730060214_collage (1).jpg', 'article_date' => '2023-07-30 06:00:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18589', 'article_category_id' => '1', 'title' => 'NRB Issues Unified Directives with Key Provisions', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The counter cyclical buffer is aimed at managing the capital fund adequacy of banks. National level development banks and commercial banks are required to implement this provision based on the Capital Adequacy Framework, 2015. The buffer rate is determined by the difference between Gross Domestic Production (GDP) and net loan flow.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRB explains that the counter cyclical buffer helps control excessive loan outflows and is crucial in managing potential crises in banks and financial institutions. This provision was introduced by the Basel Committee on Banking Supervision to protect financial institutions from risks and align their representation with the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition, NRB has made it mandatory for banks and financial institutions to obtain the Permanent Account Number (PAN) for loans of Rs 2.5 million or above from borrowers, either in a lump sum or separately. Previously, PAN was required for loans of Rs 5 million or more.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Unified Directive has set the lowest threshold of the interest rate corridor for deposit collection at 4.5 percent, a decrease of one percentage point. Additionally, the repo rate has also been reduced by 0.50 percentage points.</span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18318', 'image' => '20230728061907_collage (6).jpg', 'article_date' => '2023-07-28 18:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18588', 'article_category_id' => '1', 'title' => 'NTUC Urges the Government to Fix Minimum Wage for Workers Soon', 'sub_title' => '', 'summary' => 'The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a press release, the NTUC General-Secretary Ajay Kumar Rai said that minimum wages of workers, which should be determined based on tripartite consensus in every years as per the Labour Act, 2074, has not been implemented yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has demanded that the government promptly convene a meeting of the Board to determine the minimum wages. The trade union congress has expressed serious concerns since the wages shave not been revised even after the second week of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has been advocating to fix minimum wage of Rs 25,000 for workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC urged the government not to make any delays in fixing the minimum wages for workers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18317', 'image' => '20230728044749_collage (4).jpg', 'article_date' => '2023-07-28 16:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18587', 'article_category_id' => '1', 'title' => 'IMF Delegation Expects Nepal’s Economy to Grow in Current FY', 'sub_title' => 'Cautious Implementation of Budget is Important: IMF', 'summary' => 'July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement towards the end of the visit, the team leader Kinda said that the country’s economic growth rate is expected to improve in the current fiscal year (FY 2023/24).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following an economic slowdown last year, growth is projected to rebound in FY 2023/24, inflation is expected to recede, and the external position will continue to strengthen. Cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability,” reads the statement</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability. Continued vigilance on banks’ asset quality and stepping up supervisory efforts remain key to preserving financial stability, added Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, he has pointed out that prudent implementation of the current fiscal year's budget as an important part of securing financial sustainability. He said that the implementation of the measures adopted through the current FY’s budget will improve the efficiency of capital expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The team said that the monetary policy introduced by Nepal Rastra Bank for the current financial year is aimed at external sector stability and price increase control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing efforts of the authorities to fulfill the major commitments under the IMF-supported programmes with the technical assistance of the International Monetary Fund are welcome, said Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that the performance under the program will be formally assessed in the context of the third review of the Extended Credit Facility, which is expected to be undertaken later this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF team expressed its gratefulness to the authorities in Nepal for their hospitality and constructive discussions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The IMF team is grateful to the Nepali authorities for their hospitality and for constructive discussions. The IMF team held meetings with the Honorable Minister of Finance Dr Prakash Sharan Mahat, the Nepal Rastra Bank Governor Maha Prasad Adhikari, the National Planning Commission Vice-Chairman Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners,” added the statement.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18316', 'image' => '20230728032218_1690506562.1683679929.imf[1].jpg', 'article_date' => '2023-07-28 15:21:27', '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' => '18602', 'article_category_id' => '1', 'title' => 'New Jets Soon: Minister Kirati ', 'sub_title' => '', 'summary' => 'July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. ', 'content' => '<p><span style="font-size:18px">July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. Speaking at a press meet organized by Press Centre Nepal Jhapa chapter on Sunday, Minister Kirati argued that aircraft are essential for prosperity of a landlocked country like Nepal. <br /> "Process is underway to purchase three new and two old aircraft which would arrive in Kathmandu soon," he informed during the programme. According to the minister, the country can achieve prosperity by exporting Nepali products through Nepal's 'connection flights'. <br /> He also informed that he was reducing the corruption cases at the ministry. He proudly shared that the ministry had succeeded in purchasing new aircraft after paying the loan of Rs 4 billion. "Corruption is sinister in our country. It must be extinguished," Minister Kirati said. <br /> He further said that a national policy on tourism was being prepared and that the Nepali airports should be made safe with strict adherence to rule. -- RSS</span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18331', 'image' => '20230731093909_20230730092447_20220701121020_NAC.jpg', 'article_date' => '2023-07-31 09:37:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18601', 'article_category_id' => '1', 'title' => 'CBFIN Urges Changes in Monetary Policies to Support Banking and Financial Sectors', 'sub_title' => '', 'summary' => 'The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">July 31: The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Issuing a press statement, CBFIN has demanded a reduction in the risk weightage of large loans and the elimination of the practice of counting short-term deposits as term deposits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN believes that the current system inadvertently treats savings deposits as term deposits, which results in increased costs for banks and financial institutions. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">This, in turn, hampers the expansion of long-term loans, and CBFIN has requested the removal of this system to promote more accessible credit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN has expressed its support for reducing the risk burden on small loans, aiming to facilitate credit access for domestic small and medium industries and boost sustainable economic activities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">However, they objected to the imposition of service fees for loan investments, stating that while providing credit to the productive sector at a 2 percent premium is a positive move, additional fees for banks are not appropriate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The confederation has urged the gradual conversion of founder/promoter shares into ordinary shares in compliance with the Bank and Financial Institutions Act (BAFIA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Additionally, CBFIN has called for flexibility in meeting the target of the current financial year, as banks and financial institutions may find it challenging to cope with increasing staff and operating expenses with a credit expansion of only 3.5 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">To achieve the target of an 11.5 percent loan expansion, CBFIN emphasized the need for flexibility in terms of capital adequacy, risk management, and sectoral limits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Regarding digital banking licenses, CBFIN requested that no further licenses be issued since banks already provide digital services. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The issuance of such licenses has led to a trend of non-payment of interest, and CBFIN believes that banks' existing digital services are sufficient.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> CBFIN welcomed the monetary policy system's aim to amend the law to control chaotic activities of banks and financial institutions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18330', 'image' => '20230731055144_collage (2).jpg', 'article_date' => '2023-07-31 05:49:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18599', 'article_category_id' => '1', 'title' => 'NRB Governor Defends 'Liberal' Monetary Policy', 'sub_title' => '', 'summary' => 'July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"The policy prioritizes a liberal approach in terms of the interests of bank loans when most of the banks in the world adhere to the right policy," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In his address to the post-Monetary Policy discussions organized by the IBN Media on Sunday, the Governor argued that there was a compelling ground to opt for a liberal economic policy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The interest rate has been lowered from 7 percent to 6.5 percent. This liberal policy was taken upon analyzing the prevailing situation. One of the contributing factors for this reduction is the ease in liquidity, according to the Governor who said the Monetary Policy also aimed to uplift the real estate sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He went on to say that the Monetary Policy aims to keep the rise in BFIs credit to the private sector within the limit of 11.5 percent and limit inflation to 6.5 percent by pursuing 6 percent economic growth.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Stating that the NRB has set a target of recording credit disbursements worth Rs 562 billion and this target is not determined by the ambitious mindset, he said instead it is based on the analysis of monetary indicators. He claimed this figure is calculated based on the improvement in liquidity, reduced interest rates, the situation of remittance inflow and the programs to improve the expenditure of the government budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">It may be noted that last fiscal year, BFIs credit to the private sector rose by 3 percentage points against the projection of 12.2 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The NRB stated that the government's inability for capital expenditure as per the expectations, minimum economic growth and shrinking liquidity were major contributors to discouraging the expansion of credit disbursements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">On the occasion, Nepal Bankers' Association President Sunil KC said that if the Rs 562 billion target of loan disbursement was centered on production-based and small and medium-scale industries, it would contribute to improving the economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said the provision to offer a fixed deposit collection facility at a lower interest rate corridor aiming to increase the effectiveness of interest corridors is positive.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Monetary Policy includes the provision of bringing the micro stress testing framework in evaluating the quality of assets in the banking sector, reducing the credit risks, and assessing the possible pressure in the financial sector due to overall economic fluctuations, said KC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"The monetary policy has accommodated issues like the facility of permanent deposit collection, bringing the micro stress testing framework and the development of the central consumer identification system that would associate the national identity card with the central consumer identity (centralized KYC) system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Former banker Analraj Bhattarai cast his doubt over the achievement of the economic growth target set by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">NRB Executive Director Prakash Shrestha stressed the need for increasing the size of capital expenditures and stimulating the market to meet the target of loan expansion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18328', 'image' => '20230730091819_HB_KTM-_IMG_4117.jpg', 'article_date' => '2023-07-30 21:17:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18598', 'article_category_id' => '1', 'title' => 'Luxury British Perfume House Clive Christian Unveils 'Town & Country' Perfume in Nepal', 'sub_title' => '', 'summary' => 'Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 28: Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The launch event was hosted by INA Center Nepal P. Ltd at the Babar Mahal Revisited in Kathmandu on July 27th, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">'Town & Country' holds a rich legacy as the scent is said to have been worn by iconic Winston Churchill, and it has remained a quintessential choice among British and global royalty, celebrities, and influencers alike.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> This exquisite perfume has been reimagined, staying true to Clive Christian's signature hallmarks of complexity, concentration, and an unwavering commitment to using the finest ingredients, making it the perfect companion for self-expression.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The history of Clive Christian traces back to its predecessor, the Crown Perfumery Company, founded in 1872, which received the rare privilege of using Queen Victoria's crown image on its bottles—an emblem that continues to define every bottle of Clive Christian perfume to this day.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">With a widespread global presence, Clive Christian perfumes are available at renowned retailers such as Harrods, Harvey Nichols, Net-A-Porter, Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, and Trung La Rinascente. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The brand's headquarters is located in the Mayfair district of London.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18327', 'image' => '20230730061515_collage (1).jpg', 'article_date' => '2023-07-30 18:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18597', 'article_category_id' => '266', 'title' => 'IME Pay Announces Cashback on Air Tickets', 'sub_title' => '', 'summary' => 'July 30: IME Pay has announced cashback offer on domestic flights.', 'content' => '<h1><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 30: IME Pay has announced cashback offer on domestic flights. Under this offer, customers can get Rs 200 as cashback everyday for booking evening flights between 4 pm to 6 pm.</span></span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">This offer will last until August 11. According to the company, the discount will be available on the tickets of all domestic airlines connected to the payment system. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Customers who buy airline tickets within this offer period will get the cashback along with additional discount available by using promo code.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18326', 'image' => '20230730042758_1690680323.jpg', 'article_date' => '2023-07-30 16:27:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18596', 'article_category_id' => '1', 'title' => 'Landslide Blocks Narayangadh-Muglin Road Again', 'sub_title' => '', 'summary' => 'The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 30: The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The incident took place at around 9:00 am on Sunday near Kalikhola of Ichchhakamana rural municipality-6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">According to Deputy Superintendent of Police Bijay Raj Pandit, who serves as the Spokesperson for the District Police Office, Chitwan, the landslide made the highway impassable for vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Despite ongoing efforts to clear the road and restore traffic flow, subsequent landslips have made it hard to ensure safe passage for commuters. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The Narayangadh-Muglin road has experienced frequent disruptions due to landslides in the past. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18325', 'image' => '20230730041945_collage.jpg', 'article_date' => '2023-07-30 16:18:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18595', 'article_category_id' => '1', 'title' => 'Government Implements New Procedure to Allow Operation of In-flight Shops Inside Aircraft', 'sub_title' => '', 'summary' => 'July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights.', '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"">July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights. The Ministry of Culture, Tourism and Civil Aviation has implemented the 'On Board Duty Paid Store Operation Procedure-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. Along with this, the international airline companies of Nepal will be allowed to operate shops inside the aircraft.</span></span></span></span></p> <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 ministry has already published the procedure and implemented it. Currently, Nepal Airlines Corporation and Himalaya Airlines from the private sector are operating international flights. Now these airlines will be allowed to operate such shops inside the aircraft during the flight after taking approval from the ministry. The ministry said that the operation of shops inside the aircraft during the flight will generate additional income for the airlines.</span></span></span></span></p> <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 ministry said that such a procedure has been implemented with the aim of making the air service more effective, robust and sustainable and to help in revenue collection and foreign exchange earnings. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the new procedure, a shop can be operated for the sale of taxed items inside the flying aircraft. In order to operate such a service, the airline company has to submit an application to the ministry with the financial and technical feasibility of the service. The vendor selection process, the process to be followed to maintain the quality of items should also be mentioned in the application.</span></span></span></span></p> <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, there is a provision in the procedure for the airline companies to obtain prior approval from the customs office of the relevant airport for the sale of materials. Regarding the operation of such services, the airliners must follow the Revenue Leakage (Investigation and Control) Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Value Added Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Income Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2058</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the regulations, procedures and guidelines made under those acts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the procedure, the progress report of this service should be submitted to the ministry on a quarterly basis. Airlines implementing this service must also comply with the rules of the Civil Aviation Authority of Nepal as well as the Airport Service Fee Regulations-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They must also follow the procedures and o ther safety standards mentioned in the International Civil Aviation Organization (ICAO) rules.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18324', 'image' => '20230730030720_20221031011343_1667187471.उडान रद्द हुँदा नयाँ दिल्ली जान लागेका २५४ यात्रु अलपत्र.jpg', 'article_date' => '2023-07-30 15:06:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18594', 'article_category_id' => '1', 'title' => 'Insurance Coverage Increases to 44 Percent of Nepal’s Population ', 'sub_title' => '', 'summary' => 'July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data. Nepal Insurance Authority confirmed that more than 44 percent of citizens have access to insurance as of mid-June of the current fiscal year. The scope of insurance including foreign employment term life insurance has extended to 44.20 percent of citizens, reveals the NIA data. Similarly, 38.99 percent of the population is covered by insurance other than foreign employment term life insurance. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the authority, the coverage of term life insurance in the same period of the previous year was 39.95 percent. Apart from foreign employment term life insurance, the scope of insurance was extended to 37.04 percent of the population during last FY. According to the National Census 2078, the population of Nepal is 29,164,578. With the scope of insurance reaching 44.20 percent, there are 12,890,743 citizens covered by insurance.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In the year 2075/76, only 23 percent of Nepal's population had access to insurance. There has been a significant improvement in access to insurance over a period of five years. Chief Executive Officer (CEO) of Nepal Life Insurance Limited, Pravina Raman Parajuli says that insurance companies and authorities had played a crucial role in improving the access to insurance in a period of five years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"In the expansion of the coverage of insurance, the insurance companies as well as the regulatory body played an equally important role. Similarly, various insurance awareness programs up to the grassroots level have had an important role in expanding the scope of the state's policy,"</span> said Parajuli.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Parajuli says that most of the citizens took insurance coverage to reduce the risk after the earthquakes of 2015. At that time, the earthquake had 'triggered' citizens to opt for insurance coverage. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Nepal Insurance Authority spokesperson Raju Raman Paudel says that the main role of the authority, insurance companies and insurance agents is to expand the scope of insurance. He said, "In five years, the scope of insurance has increased a lot. Insurance awareness is the main reason for expansion in the scope of insurance." Paudel says that in these five years, insurance companies have also expanded their branches and sub-branches and reached villages. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"Insurance agents also went to villages and did their work, so the access to insurance increased from 23 percent to over 44 percent in five years,"</span> added Poudel.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18323', 'image' => '20230730012854_Insurance.jpg', 'article_date' => '2023-07-30 13:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18593', 'article_category_id' => '1', 'title' => 'Experts Suggest Keeping National Interest in Centre while Receiving Foreign Aid ', 'sub_title' => '', 'summary' => 'July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by the Centre for Social Inclusion and Federalism on Friday, the experts made it clear that donor agencies were imposing their interest while extending assistance all because of weak the bargaining capacity of government employees. The loan and assistance must be received by keeping national interest in centre, they underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former secretary Lal Shankar Ghimire made it clear that no donor agency extends assistance without any interest. </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"">"In a way or other, there is certainly interest in 80 percent of foreign assistance to Nepal. So, there is no difference between loan and grants," Ghimire said, arguing that we failed to take a strong stance while receiving foreign loan and grants. </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"">The former secretary wondered why we take foreign grants and loan as achievement while it takes at least one to five years to complete the loan and grants cycle. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former secretary of the Government of Nepal Dipendra Nath Sharma said that the National Planning Commission needs to monitor infrastructure projects effectively.</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"">“An effective monitoring of implementation of project within timeframe, and accountability among concerned agencies for project implementation is imperative,” he said arguing that the Public Procurement Office was not functioning up to the mark. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Director at IIDS, Sucheta Pyakurel, said the economic indicators were not negative. It can be taken as political dimension as well. She however said, "Nepal is an economically weak country, where the project built on foreign assistance makes it weaker." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government's economic status should be considered while accepting foreign assistance for infrastructures, she suggested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former officer for external affairs at World Bank, Rajiv Upadhyay, opined that resource was shrinking recently. Global geopolitics was getting centered on economy, he added. Similarly, he informed that the military budget was increasing in most of the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the event, a report on 'China's Emergence on Nepal's Infrastructures: Status, problems and Challenges' was also presented. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18322', 'image' => '20230730124631_20230126012032_Foreign investment.jpg', 'article_date' => '2023-07-30 12:45:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18592', 'article_category_id' => '1', 'title' => 'Beware of Fake Assurance of Employment in Thailand and Myanmar: Foreign Ministry ', 'sub_title' => '', 'summary' => 'July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Friday, the ministry urged all not to be swayed by the false assurance of attractive job in IT sector in Thailand and Myanmar because the Nepalis were found taken hostage in Kayin Province of Myanmar and forced to be involve in illegal activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that Nepali citizens were lured in foreign job by assuring them hefty amount but were forcefully involved in the activities prohibited by Nepal government as per the existing law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis have been requested not to visit abroad on tourist and visit visa while going for employment. A legal labour permit is essential to go abroad for job, the ministry cautioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Foreign Ministry, the fraudsters had seized passports of the Nepali citizens on the pretext of taking them to Myanmar from Thailand in an illegal way. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis falling victims to such fraudsters are requested to communicate with the ministry at the emails eonbangkok@mofa.gov.np; eonyangon@mofa.gov.np; or call at +66-869915554, +95-1-545880 and +95-1-557168. Similarly, they can contact the Embassy of Nepal in Bangkok, Embassy of Nepal in Yangon Myanmar, the ministry added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18321', 'image' => '20230730121031_MOFA.jpg', 'article_date' => '2023-07-30 12:09:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18591', 'article_category_id' => '1', 'title' => 'Imports of Fuel-Powered Vehicles Declines', 'sub_title' => '', 'summary' => 'July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. While the import of fuel-powered jeep, cars and vans has decreased, the import of electric vehicles has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data kept by the Birgunj Customs Office on its website, the import of vehicles such as jeeps, cars and vans decreased in the last fiscal year (FY 2022/23) compared to the FY 2021/22.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Birgunj Customs Officer Ram Chandra Dhakal informed that 1,110 four wheelers including jeeps, cars and vans entered through this checkpoint last year. This number was 5,674 the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs officials, the import has decreased because the government had banned the import of vehicles last year because of the decline in foreign exchange reserves. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although the government has lifted the restrictions, imports have not increased. Due to the lack of demand in the market and the reluctance of banks to invest in the automobile sector, the import of vehicles has not increased despite the lifting of the ban, according to the traders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">On the other hand, the import of electric vehicles has increased. In the last fiscal year, the import of EVs increased by 127 percent. In the review year, 361 such vehicles were imported into the country. The number was 159 in the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, the import of unassembled motorcycles has increased after the motorcycle assembling plant started operating in the country last year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs office, 25,248 units of unassembled motorcycles were imported in the year 2021/22, while this number decreased to 18,333 in the last year. Imports of pickups vans, trucks-buses, ready-made motorcycles, vehicle parts, etc also seem to have decreased.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18320', 'image' => '20230730114154_nada.jpg', 'article_date' => '2023-07-30 11:40:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18590', 'article_category_id' => '1', 'title' => '322 Industries Registered with Department of Industry in FY 2022/2023', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 29: In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These registered industries proposed a total investment of Rs 214 billion. The department stated that newly-registered industries would create 23,324 jobs. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the registered industries, 66 are large-scale industries, 70 medium-scale industries, and 186 small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the Industrial Enterprise Act, 2076, industries with a stable(fixed) capital of over Rs 500 million are categorized as large-scale, those with a fixed capital between Rs 150 million to Rs 500 million are classified as medium-scale, and those with a capital of up to Rs 150 million are categorized as small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the Department of Industry, five patents and 18 designs were registered in the last year. Similarly, the number of registered trademarks reached 3,254. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last one year, the department took action against 150 companies on cases related to trademark. Additionally, 82 Initial Environmental Examinations(IEE) were approved. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the same period, 404 industries were certified by the department to receive cash grants for export promotion (Value Addition). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For India-bound exports, 98 certificates of origin were recommended. The number of foreign investments approved by the Department of Industry in the last fiscal year was 327. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The department revealed that it received proposals for a total of Rs 33.14 billion foreign investments from the those industries.</span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18319', 'image' => '20230730060214_collage (1).jpg', 'article_date' => '2023-07-30 06:00:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18589', 'article_category_id' => '1', 'title' => 'NRB Issues Unified Directives with Key Provisions', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The counter cyclical buffer is aimed at managing the capital fund adequacy of banks. National level development banks and commercial banks are required to implement this provision based on the Capital Adequacy Framework, 2015. The buffer rate is determined by the difference between Gross Domestic Production (GDP) and net loan flow.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRB explains that the counter cyclical buffer helps control excessive loan outflows and is crucial in managing potential crises in banks and financial institutions. This provision was introduced by the Basel Committee on Banking Supervision to protect financial institutions from risks and align their representation with the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition, NRB has made it mandatory for banks and financial institutions to obtain the Permanent Account Number (PAN) for loans of Rs 2.5 million or above from borrowers, either in a lump sum or separately. Previously, PAN was required for loans of Rs 5 million or more.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Unified Directive has set the lowest threshold of the interest rate corridor for deposit collection at 4.5 percent, a decrease of one percentage point. Additionally, the repo rate has also been reduced by 0.50 percentage points.</span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18318', 'image' => '20230728061907_collage (6).jpg', 'article_date' => '2023-07-28 18:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18588', 'article_category_id' => '1', 'title' => 'NTUC Urges the Government to Fix Minimum Wage for Workers Soon', 'sub_title' => '', 'summary' => 'The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a press release, the NTUC General-Secretary Ajay Kumar Rai said that minimum wages of workers, which should be determined based on tripartite consensus in every years as per the Labour Act, 2074, has not been implemented yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has demanded that the government promptly convene a meeting of the Board to determine the minimum wages. The trade union congress has expressed serious concerns since the wages shave not been revised even after the second week of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has been advocating to fix minimum wage of Rs 25,000 for workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC urged the government not to make any delays in fixing the minimum wages for workers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18317', 'image' => '20230728044749_collage (4).jpg', 'article_date' => '2023-07-28 16:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18587', 'article_category_id' => '1', 'title' => 'IMF Delegation Expects Nepal’s Economy to Grow in Current FY', 'sub_title' => 'Cautious Implementation of Budget is Important: IMF', 'summary' => 'July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement towards the end of the visit, the team leader Kinda said that the country’s economic growth rate is expected to improve in the current fiscal year (FY 2023/24).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following an economic slowdown last year, growth is projected to rebound in FY 2023/24, inflation is expected to recede, and the external position will continue to strengthen. Cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability,” reads the statement</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability. Continued vigilance on banks’ asset quality and stepping up supervisory efforts remain key to preserving financial stability, added Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, he has pointed out that prudent implementation of the current fiscal year's budget as an important part of securing financial sustainability. He said that the implementation of the measures adopted through the current FY’s budget will improve the efficiency of capital expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The team said that the monetary policy introduced by Nepal Rastra Bank for the current financial year is aimed at external sector stability and price increase control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing efforts of the authorities to fulfill the major commitments under the IMF-supported programmes with the technical assistance of the International Monetary Fund are welcome, said Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that the performance under the program will be formally assessed in the context of the third review of the Extended Credit Facility, which is expected to be undertaken later this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF team expressed its gratefulness to the authorities in Nepal for their hospitality and constructive discussions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The IMF team is grateful to the Nepali authorities for their hospitality and for constructive discussions. The IMF team held meetings with the Honorable Minister of Finance Dr Prakash Sharan Mahat, the Nepal Rastra Bank Governor Maha Prasad Adhikari, the National Planning Commission Vice-Chairman Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners,” added the statement.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18316', 'image' => '20230728032218_1690506562.1683679929.imf[1].jpg', 'article_date' => '2023-07-28 15:21:27', '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
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 133]file not found!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' => '18602', 'article_category_id' => '1', 'title' => 'New Jets Soon: Minister Kirati ', 'sub_title' => '', 'summary' => 'July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. ', 'content' => '<p><span style="font-size:18px">July 31: Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has said Nepal would buy new aircraft soon. Speaking at a press meet organized by Press Centre Nepal Jhapa chapter on Sunday, Minister Kirati argued that aircraft are essential for prosperity of a landlocked country like Nepal. <br /> "Process is underway to purchase three new and two old aircraft which would arrive in Kathmandu soon," he informed during the programme. According to the minister, the country can achieve prosperity by exporting Nepali products through Nepal's 'connection flights'. <br /> He also informed that he was reducing the corruption cases at the ministry. He proudly shared that the ministry had succeeded in purchasing new aircraft after paying the loan of Rs 4 billion. "Corruption is sinister in our country. It must be extinguished," Minister Kirati said. <br /> He further said that a national policy on tourism was being prepared and that the Nepali airports should be made safe with strict adherence to rule. -- RSS</span></p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18331', 'image' => '20230731093909_20230730092447_20220701121020_NAC.jpg', 'article_date' => '2023-07-31 09:37:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18601', 'article_category_id' => '1', 'title' => 'CBFIN Urges Changes in Monetary Policies to Support Banking and Financial Sectors', 'sub_title' => '', 'summary' => 'The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">July 31: The Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) has called for changes in the monetary policy to support the banking and financial sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Issuing a press statement, CBFIN has demanded a reduction in the risk weightage of large loans and the elimination of the practice of counting short-term deposits as term deposits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN believes that the current system inadvertently treats savings deposits as term deposits, which results in increased costs for banks and financial institutions. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">This, in turn, hampers the expansion of long-term loans, and CBFIN has requested the removal of this system to promote more accessible credit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">CBFIN has expressed its support for reducing the risk burden on small loans, aiming to facilitate credit access for domestic small and medium industries and boost sustainable economic activities. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">However, they objected to the imposition of service fees for loan investments, stating that while providing credit to the productive sector at a 2 percent premium is a positive move, additional fees for banks are not appropriate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The confederation has urged the gradual conversion of founder/promoter shares into ordinary shares in compliance with the Bank and Financial Institutions Act (BAFIA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> Additionally, CBFIN has called for flexibility in meeting the target of the current financial year, as banks and financial institutions may find it challenging to cope with increasing staff and operating expenses with a credit expansion of only 3.5 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">To achieve the target of an 11.5 percent loan expansion, CBFIN emphasized the need for flexibility in terms of capital adequacy, risk management, and sectoral limits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Regarding digital banking licenses, CBFIN requested that no further licenses be issued since banks already provide digital services. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The issuance of such licenses has led to a trend of non-payment of interest, and CBFIN believes that banks' existing digital services are sufficient.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> CBFIN welcomed the monetary policy system's aim to amend the law to control chaotic activities of banks and financial institutions. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-31', 'modified' => '2023-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '18330', 'image' => '20230731055144_collage (2).jpg', 'article_date' => '2023-07-31 05:49:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18599', 'article_category_id' => '1', 'title' => 'NRB Governor Defends 'Liberal' Monetary Policy', 'sub_title' => '', 'summary' => 'July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 30: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that the Monetary Policy for the current fiscal year came with a review of the overall existing scenario of the nation's economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"The policy prioritizes a liberal approach in terms of the interests of bank loans when most of the banks in the world adhere to the right policy," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In his address to the post-Monetary Policy discussions organized by the IBN Media on Sunday, the Governor argued that there was a compelling ground to opt for a liberal economic policy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The interest rate has been lowered from 7 percent to 6.5 percent. This liberal policy was taken upon analyzing the prevailing situation. One of the contributing factors for this reduction is the ease in liquidity, according to the Governor who said the Monetary Policy also aimed to uplift the real estate sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He went on to say that the Monetary Policy aims to keep the rise in BFIs credit to the private sector within the limit of 11.5 percent and limit inflation to 6.5 percent by pursuing 6 percent economic growth.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Stating that the NRB has set a target of recording credit disbursements worth Rs 562 billion and this target is not determined by the ambitious mindset, he said instead it is based on the analysis of monetary indicators. He claimed this figure is calculated based on the improvement in liquidity, reduced interest rates, the situation of remittance inflow and the programs to improve the expenditure of the government budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">It may be noted that last fiscal year, BFIs credit to the private sector rose by 3 percentage points against the projection of 12.2 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The NRB stated that the government's inability for capital expenditure as per the expectations, minimum economic growth and shrinking liquidity were major contributors to discouraging the expansion of credit disbursements.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">On the occasion, Nepal Bankers' Association President Sunil KC said that if the Rs 562 billion target of loan disbursement was centered on production-based and small and medium-scale industries, it would contribute to improving the economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said the provision to offer a fixed deposit collection facility at a lower interest rate corridor aiming to increase the effectiveness of interest corridors is positive.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Monetary Policy includes the provision of bringing the micro stress testing framework in evaluating the quality of assets in the banking sector, reducing the credit risks, and assessing the possible pressure in the financial sector due to overall economic fluctuations, said KC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"The monetary policy has accommodated issues like the facility of permanent deposit collection, bringing the micro stress testing framework and the development of the central consumer identification system that would associate the national identity card with the central consumer identity (centralized KYC) system," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Former banker Analraj Bhattarai cast his doubt over the achievement of the economic growth target set by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">NRB Executive Director Prakash Shrestha stressed the need for increasing the size of capital expenditures and stimulating the market to meet the target of loan expansion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18328', 'image' => '20230730091819_HB_KTM-_IMG_4117.jpg', 'article_date' => '2023-07-30 21:17:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18598', 'article_category_id' => '1', 'title' => 'Luxury British Perfume House Clive Christian Unveils 'Town & Country' Perfume in Nepal', 'sub_title' => '', 'summary' => 'Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 28: Clive Christian, the reputed luxury British perfume house renowned for creating the world's most exquisite perfumes, has launched 'Town & Country,' a timeless fragrance originally crafted in 1925, to the Nepali market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The launch event was hosted by INA Center Nepal P. Ltd at the Babar Mahal Revisited in Kathmandu on July 27th, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">'Town & Country' holds a rich legacy as the scent is said to have been worn by iconic Winston Churchill, and it has remained a quintessential choice among British and global royalty, celebrities, and influencers alike.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"> This exquisite perfume has been reimagined, staying true to Clive Christian's signature hallmarks of complexity, concentration, and an unwavering commitment to using the finest ingredients, making it the perfect companion for self-expression.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The history of Clive Christian traces back to its predecessor, the Crown Perfumery Company, founded in 1872, which received the rare privilege of using Queen Victoria's crown image on its bottles—an emblem that continues to define every bottle of Clive Christian perfume to this day.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">With a widespread global presence, Clive Christian perfumes are available at renowned retailers such as Harrods, Harvey Nichols, Net-A-Porter, Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, and Trung La Rinascente. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The brand's headquarters is located in the Mayfair district of London.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18327', 'image' => '20230730061515_collage (1).jpg', 'article_date' => '2023-07-30 18:13:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18597', 'article_category_id' => '266', 'title' => 'IME Pay Announces Cashback on Air Tickets', 'sub_title' => '', 'summary' => 'July 30: IME Pay has announced cashback offer on domestic flights.', 'content' => '<h1><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 30: IME Pay has announced cashback offer on domestic flights. Under this offer, customers can get Rs 200 as cashback everyday for booking evening flights between 4 pm to 6 pm.</span></span></span></span></h1> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">This offer will last until August 11. According to the company, the discount will be available on the tickets of all domestic airlines connected to the payment system. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Customers who buy airline tickets within this offer period will get the cashback along with additional discount available by using promo code.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18326', 'image' => '20230730042758_1690680323.jpg', 'article_date' => '2023-07-30 16:27:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18596', 'article_category_id' => '1', 'title' => 'Landslide Blocks Narayangadh-Muglin Road Again', 'sub_title' => '', 'summary' => 'The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">July 30: The Narayangadh-Muglin road section in Chitwan district has once again been blocked by a landslide, causing significant disruptions to vehicular traffic. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The incident took place at around 9:00 am on Sunday near Kalikhola of Ichchhakamana rural municipality-6.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">According to Deputy Superintendent of Police Bijay Raj Pandit, who serves as the Spokesperson for the District Police Office, Chitwan, the landslide made the highway impassable for vehicles. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Despite ongoing efforts to clear the road and restore traffic flow, subsequent landslips have made it hard to ensure safe passage for commuters. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The Narayangadh-Muglin road has experienced frequent disruptions due to landslides in the past. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18325', 'image' => '20230730041945_collage.jpg', 'article_date' => '2023-07-30 16:18:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18595', 'article_category_id' => '1', 'title' => 'Government Implements New Procedure to Allow Operation of In-flight Shops Inside Aircraft', 'sub_title' => '', 'summary' => 'July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights.', '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"">July 30: The government has issued a work procedure that allows international airline companies of Nepal to operate shops inside the aircraft during the flights. The Ministry of Culture, Tourism and Civil Aviation has implemented the 'On Board Duty Paid Store Operation Procedure-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. Along with this, the international airline companies of Nepal will be allowed to operate shops inside the aircraft.</span></span></span></span></p> <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 ministry has already published the procedure and implemented it. Currently, Nepal Airlines Corporation and Himalaya Airlines from the private sector are operating international flights. Now these airlines will be allowed to operate such shops inside the aircraft during the flight after taking approval from the ministry. The ministry said that the operation of shops inside the aircraft during the flight will generate additional income for the airlines.</span></span></span></span></p> <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 ministry said that such a procedure has been implemented with the aim of making the air service more effective, robust and sustainable and to help in revenue collection and foreign exchange earnings. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the new procedure, a shop can be operated for the sale of taxed items inside the flying aircraft. In order to operate such a service, the airline company has to submit an application to the ministry with the financial and technical feasibility of the service. The vendor selection process, the process to be followed to maintain the quality of items should also be mentioned in the application.</span></span></span></span></p> <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, there is a provision in the procedure for the airline companies to obtain prior approval from the customs office of the relevant airport for the sale of materials. Regarding the operation of such services, the airliners must follow the Revenue Leakage (Investigation and Control) Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Value Added Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2052</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the Income Tax Act </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2058</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the regulations, procedures and guidelines made under those acts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the procedure, the progress report of this service should be submitted to the ministry on a quarterly basis. Airlines implementing this service must also comply with the rules of the Civil Aviation Authority of Nepal as well as the Airport Service Fee Regulations-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They must also follow the procedures and o ther safety standards mentioned in the International Civil Aviation Organization (ICAO) rules.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18324', 'image' => '20230730030720_20221031011343_1667187471.उडान रद्द हुँदा नयाँ दिल्ली जान लागेका २५४ यात्रु अलपत्र.jpg', 'article_date' => '2023-07-30 15:06:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18594', 'article_category_id' => '1', 'title' => 'Insurance Coverage Increases to 44 Percent of Nepal’s Population ', 'sub_title' => '', 'summary' => 'July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">July 30: Forty four percent of Nepal's total population is covered by insurance, according to the latest data. Nepal Insurance Authority confirmed that more than 44 percent of citizens have access to insurance as of mid-June of the current fiscal year. The scope of insurance including foreign employment term life insurance has extended to 44.20 percent of citizens, reveals the NIA data. Similarly, 38.99 percent of the population is covered by insurance other than foreign employment term life insurance. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">As per the authority, the coverage of term life insurance in the same period of the previous year was 39.95 percent. Apart from foreign employment term life insurance, the scope of insurance was extended to 37.04 percent of the population during last FY. According to the National Census 2078, the population of Nepal is 29,164,578. With the scope of insurance reaching 44.20 percent, there are 12,890,743 citizens covered by insurance.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In the year 2075/76, only 23 percent of Nepal's population had access to insurance. There has been a significant improvement in access to insurance over a period of five years. Chief Executive Officer (CEO) of Nepal Life Insurance Limited, Pravina Raman Parajuli says that insurance companies and authorities had played a crucial role in improving the access to insurance in a period of five years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"In the expansion of the coverage of insurance, the insurance companies as well as the regulatory body played an equally important role. Similarly, various insurance awareness programs up to the grassroots level have had an important role in expanding the scope of the state's policy,"</span> said Parajuli.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Parajuli says that most of the citizens took insurance coverage to reduce the risk after the earthquakes of 2015. At that time, the earthquake had 'triggered' citizens to opt for insurance coverage. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Nepal Insurance Authority spokesperson Raju Raman Paudel says that the main role of the authority, insurance companies and insurance agents is to expand the scope of insurance. He said, "In five years, the scope of insurance has increased a lot. Insurance awareness is the main reason for expansion in the scope of insurance." Paudel says that in these five years, insurance companies have also expanded their branches and sub-branches and reached villages. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"Insurance agents also went to villages and did their work, so the access to insurance increased from 23 percent to over 44 percent in five years,"</span> added Poudel.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18323', 'image' => '20230730012854_Insurance.jpg', 'article_date' => '2023-07-30 13:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18593', 'article_category_id' => '1', 'title' => 'Experts Suggest Keeping National Interest in Centre while Receiving Foreign Aid ', 'sub_title' => '', 'summary' => 'July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: Infrastructure experts have suggested the government to keep the national interest in centre while receiving foreign loan and grants for infrastructure projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized by the Centre for Social Inclusion and Federalism on Friday, the experts made it clear that donor agencies were imposing their interest while extending assistance all because of weak the bargaining capacity of government employees. The loan and assistance must be received by keeping national interest in centre, they underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former secretary Lal Shankar Ghimire made it clear that no donor agency extends assistance without any interest. </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"">"In a way or other, there is certainly interest in 80 percent of foreign assistance to Nepal. So, there is no difference between loan and grants," Ghimire said, arguing that we failed to take a strong stance while receiving foreign loan and grants. </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"">The former secretary wondered why we take foreign grants and loan as achievement while it takes at least one to five years to complete the loan and grants cycle. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, former secretary of the Government of Nepal Dipendra Nath Sharma said that the National Planning Commission needs to monitor infrastructure projects effectively.</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"">“An effective monitoring of implementation of project within timeframe, and accountability among concerned agencies for project implementation is imperative,” he said arguing that the Public Procurement Office was not functioning up to the mark. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Director at IIDS, Sucheta Pyakurel, said the economic indicators were not negative. It can be taken as political dimension as well. She however said, "Nepal is an economically weak country, where the project built on foreign assistance makes it weaker." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Government's economic status should be considered while accepting foreign assistance for infrastructures, she suggested. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former officer for external affairs at World Bank, Rajiv Upadhyay, opined that resource was shrinking recently. Global geopolitics was getting centered on economy, he added. Similarly, he informed that the military budget was increasing in most of the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the event, a report on 'China's Emergence on Nepal's Infrastructures: Status, problems and Challenges' was also presented. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18322', 'image' => '20230730124631_20230126012032_Foreign investment.jpg', 'article_date' => '2023-07-30 12:45:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18592', 'article_category_id' => '1', 'title' => 'Beware of Fake Assurance of Employment in Thailand and Myanmar: Foreign Ministry ', 'sub_title' => '', 'summary' => 'July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Friday, the ministry urged all not to be swayed by the false assurance of attractive job in IT sector in Thailand and Myanmar because the Nepalis were found taken hostage in Kayin Province of Myanmar and forced to be involve in illegal activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that Nepali citizens were lured in foreign job by assuring them hefty amount but were forcefully involved in the activities prohibited by Nepal government as per the existing law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis have been requested not to visit abroad on tourist and visit visa while going for employment. A legal labour permit is essential to go abroad for job, the ministry cautioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Foreign Ministry, the fraudsters had seized passports of the Nepali citizens on the pretext of taking them to Myanmar from Thailand in an illegal way. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis falling victims to such fraudsters are requested to communicate with the ministry at the emails eonbangkok@mofa.gov.np; eonyangon@mofa.gov.np; or call at +66-869915554, +95-1-545880 and +95-1-557168. Similarly, they can contact the Embassy of Nepal in Bangkok, Embassy of Nepal in Yangon Myanmar, the ministry added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18321', 'image' => '20230730121031_MOFA.jpg', 'article_date' => '2023-07-30 12:09:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18591', 'article_category_id' => '1', 'title' => 'Imports of Fuel-Powered Vehicles Declines', 'sub_title' => '', 'summary' => 'July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. While the import of fuel-powered jeep, cars and vans has decreased, the import of electric vehicles has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data kept by the Birgunj Customs Office on its website, the import of vehicles such as jeeps, cars and vans decreased in the last fiscal year (FY 2022/23) compared to the FY 2021/22.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Birgunj Customs Officer Ram Chandra Dhakal informed that 1,110 four wheelers including jeeps, cars and vans entered through this checkpoint last year. This number was 5,674 the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs officials, the import has decreased because the government had banned the import of vehicles last year because of the decline in foreign exchange reserves. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Although the government has lifted the restrictions, imports have not increased. Due to the lack of demand in the market and the reluctance of banks to invest in the automobile sector, the import of vehicles has not increased despite the lifting of the ban, according to the traders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">On the other hand, the import of electric vehicles has increased. In the last fiscal year, the import of EVs increased by 127 percent. In the review year, 361 such vehicles were imported into the country. The number was 159 in the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, the import of unassembled motorcycles has increased after the motorcycle assembling plant started operating in the country last year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs office, 25,248 units of unassembled motorcycles were imported in the year 2021/22, while this number decreased to 18,333 in the last year. Imports of pickups vans, trucks-buses, ready-made motorcycles, vehicle parts, etc also seem to have decreased.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18320', 'image' => '20230730114154_nada.jpg', 'article_date' => '2023-07-30 11:40:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18590', 'article_category_id' => '1', 'title' => '322 Industries Registered with Department of Industry in FY 2022/2023', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 29: In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These registered industries proposed a total investment of Rs 214 billion. The department stated that newly-registered industries would create 23,324 jobs. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the registered industries, 66 are large-scale industries, 70 medium-scale industries, and 186 small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the Industrial Enterprise Act, 2076, industries with a stable(fixed) capital of over Rs 500 million are categorized as large-scale, those with a fixed capital between Rs 150 million to Rs 500 million are classified as medium-scale, and those with a capital of up to Rs 150 million are categorized as small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the Department of Industry, five patents and 18 designs were registered in the last year. Similarly, the number of registered trademarks reached 3,254. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last one year, the department took action against 150 companies on cases related to trademark. Additionally, 82 Initial Environmental Examinations(IEE) were approved. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the same period, 404 industries were certified by the department to receive cash grants for export promotion (Value Addition). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For India-bound exports, 98 certificates of origin were recommended. The number of foreign investments approved by the Department of Industry in the last fiscal year was 327. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The department revealed that it received proposals for a total of Rs 33.14 billion foreign investments from the those industries.</span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18319', 'image' => '20230730060214_collage (1).jpg', 'article_date' => '2023-07-30 06:00:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18589', 'article_category_id' => '1', 'title' => 'NRB Issues Unified Directives with Key Provisions', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The counter cyclical buffer is aimed at managing the capital fund adequacy of banks. National level development banks and commercial banks are required to implement this provision based on the Capital Adequacy Framework, 2015. The buffer rate is determined by the difference between Gross Domestic Production (GDP) and net loan flow.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRB explains that the counter cyclical buffer helps control excessive loan outflows and is crucial in managing potential crises in banks and financial institutions. This provision was introduced by the Basel Committee on Banking Supervision to protect financial institutions from risks and align their representation with the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition, NRB has made it mandatory for banks and financial institutions to obtain the Permanent Account Number (PAN) for loans of Rs 2.5 million or above from borrowers, either in a lump sum or separately. Previously, PAN was required for loans of Rs 5 million or more.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Unified Directive has set the lowest threshold of the interest rate corridor for deposit collection at 4.5 percent, a decrease of one percentage point. Additionally, the repo rate has also been reduced by 0.50 percentage points.</span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18318', 'image' => '20230728061907_collage (6).jpg', 'article_date' => '2023-07-28 18:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18588', 'article_category_id' => '1', 'title' => 'NTUC Urges the Government to Fix Minimum Wage for Workers Soon', 'sub_title' => '', 'summary' => 'The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a press release, the NTUC General-Secretary Ajay Kumar Rai said that minimum wages of workers, which should be determined based on tripartite consensus in every years as per the Labour Act, 2074, has not been implemented yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has demanded that the government promptly convene a meeting of the Board to determine the minimum wages. The trade union congress has expressed serious concerns since the wages shave not been revised even after the second week of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has been advocating to fix minimum wage of Rs 25,000 for workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC urged the government not to make any delays in fixing the minimum wages for workers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18317', 'image' => '20230728044749_collage (4).jpg', 'article_date' => '2023-07-28 16:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18587', 'article_category_id' => '1', 'title' => 'IMF Delegation Expects Nepal’s Economy to Grow in Current FY', 'sub_title' => 'Cautious Implementation of Budget is Important: IMF', 'summary' => 'July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement towards the end of the visit, the team leader Kinda said that the country’s economic growth rate is expected to improve in the current fiscal year (FY 2023/24).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following an economic slowdown last year, growth is projected to rebound in FY 2023/24, inflation is expected to recede, and the external position will continue to strengthen. Cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability,” reads the statement</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability. Continued vigilance on banks’ asset quality and stepping up supervisory efforts remain key to preserving financial stability, added Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, he has pointed out that prudent implementation of the current fiscal year's budget as an important part of securing financial sustainability. He said that the implementation of the measures adopted through the current FY’s budget will improve the efficiency of capital expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The team said that the monetary policy introduced by Nepal Rastra Bank for the current financial year is aimed at external sector stability and price increase control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing efforts of the authorities to fulfill the major commitments under the IMF-supported programmes with the technical assistance of the International Monetary Fund are welcome, said Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that the performance under the program will be formally assessed in the context of the third review of the Extended Credit Facility, which is expected to be undertaken later this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF team expressed its gratefulness to the authorities in Nepal for their hospitality and constructive discussions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The IMF team is grateful to the Nepali authorities for their hospitality and for constructive discussions. The IMF team held meetings with the Honorable Minister of Finance Dr Prakash Sharan Mahat, the Nepal Rastra Bank Governor Maha Prasad Adhikari, the National Planning Commission Vice-Chairman Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners,” added the statement.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18316', 'image' => '20230728032218_1690506562.1683679929.imf[1].jpg', 'article_date' => '2023-07-28 15:21:27', '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
