July 28: The loanable funds of banks has reached almost Rs 400 billion.…
July 28: The loanable funds of banks has reached almost Rs 400 billion.…
July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the…
July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air…
July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday…
July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in…
July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years.…
July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed…
July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer…
July 27: An Indian national has been arrested on the charged of being involved in a bank…
July 27: Nepal’s swimmer Gaurika Singh, who clinched multiple gold medals in the South Asian Games (SAG), has set a new national record in individual performance in the 20th edition of the World Aquatics Championship-2023 underway in Fukuoka,…
July 27: The International Monetary Fund (IMF) has revised its outlook for global growth for this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said on…
In the fiscal year 2022/2023, Nepal imported gold worth 22 billion 35 crore rupees. According to the statistics of the Department of Customs, in the fiscal year 2079/80, Nepal imported 29 lakh 16 thousand 586 grams of yellow…
July 26: The main opposition party, CPN (UML), on Wednesday obstructed the proceedings of the House of Representatives, demanding formation of a high-level committee to probe the recent gold…
July 26: Federal capital Kathmandu is the city having the largest population size and highest population density in the…
July 26: The integrated check post (ICP) along the Nepal-India border in Nepalgunj is yet to come into operation even one and a half months after its…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 28: The loanable funds of banks has reached almost Rs 400 billion. The investible funds of banks has increased due to the inability of banks to increase credit expansion compared to deposit collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, deposits in banks and financial institutions have reached Rs 5621 billion as of Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, total credit flow of BFIs stands at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4850</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The credit-deposit ratio (CD ratio) of banks has remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">83.21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks are allowed to give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to this provision, commercial banks have the capacity to extend additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the last day of the last fiscal year, the CD ratio of banks had fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Accordingly, banks had the capacity to extend loans up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. However, the amount of bank deposits decreased after the facility of banks to calculate deposits from the local levels’ accumulated fund was removed. Deposits reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5767</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the last day of the last fiscal year and decreased by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the second day of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the lack of liquidity in banks and financial institutions, the government last year gave the facility to count up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the accumulated money of the local level as bank deposits. This facility has been reduced from the current year due to excess liquidity in the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the end of the facility given to the banks, the deposit has decreased, and the interbank interest rate has also remained high. The central bank informed that the interbank interest rate remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the last fiscal year, the interbank interest rate fell below </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. After the interbank interest rate fell below the target limit, the NRB tried to bring it within the limit by mopping excess liquidity through reverse repo and deposit collection tools but was unable to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, president of Nepal Bankers Association, an organization of chief executive officers of A class banks, says that the liquidity (investable amount) has been consistently high for the past few months because there has been no expansion of credit compared to the increase in deposits. He said that because there is no demand for loans in the market due to high interest rates, liquidity has accumulated in banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank, which issued a tight monetary policy last year, has adopted a strategy of reducing credit flow this year as well. It has been mentioned in the monetary policy that the private sector is burdened with more debt and this has also started increasing non-performing loans.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18315', 'image' => '20230728012659_bankkkkkkk.jpg', 'article_date' => '2023-07-28 13:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18586', 'article_category_id' => '1', 'title' => 'NFN calls for Declaring a Pandemic of Lumpy Skin Disease ', 'sub_title' => '', 'summary' => 'July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has also called for controlling the disease at the earliest, and providing compensation to the affected farmers. Or else a protest programme would be launched, the NFN warned at a press conference organised on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Various nine organisations working for the welfare of farmers are associated with the Network. On the occasion, the network’s coordinator Ganesh Chandra Timilsina, who is also the president of the Nepal Farmers Association, a wing of the Nepali Congress, said the lumpy skin disease has affected many farmers across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, chairperson of the All Nepal Peasants Federation, a wing of the CPN (UML), Dr Prem Dangal said over 50,000 domestic animals have died from the disease, resulting in the loss of around Rs 40 billion. Additional Rs 1 billion would be lost if the disease is not contained, he warned. </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 network has also demanded that the stalls at the Kalimati fruit and vegetable market be rented out through competitive bidding process. As part of its protest, NFN has launched a sit-in before the office of the Kalimati Fruits and Vegetable Market Development Committee. Likewise, the network demanded smooth supply of fertilisers and investigations into the delay in releasing the money under agriculture insurance. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18314', 'image' => '20230728020425_Lumpy-Skin-Disease.jpg', 'article_date' => '2023-07-28 14:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18584', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs File Writ Petition against VAT Imposed on Air Services', 'sub_title' => '', 'summary' => 'July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services.', '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 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services. The businessmen decided to move the court after the government turned a deaf ear to their demand that such tax should not be imposed considering the crisis this sector has been facing post Covid-19 pandemic.</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"">Nepal Association of Tour and Travel Agents (NATTA) on Thursday filed the petition demanding cancellation of VAT system on air services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had imposed VAT on air services through the budget announced for the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramesh Thapa, president of NATTA, said that the government did not respond to their request to amend the provision. According to him, NATTA decided to file the case as per the decision taken by the association’s former council members, NATTA’s incumbent members, legal professionals, tax consultants and NATTA board.</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"">NATTA stressed on the need for cooperation between the government and the private sector for sustainable development of the tourism industry and that they are ready for discussion and cooperation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18313', 'image' => '20230728125051_231385-nepal - Copy.jpg', 'article_date' => '2023-07-28 12:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18583', 'article_category_id' => '1', 'title' => 'Kristin and Tenjen Scale Mt K2, Setting World Record of Scaling 14 Peaks in Shortest Time', 'sub_title' => '', 'summary' => 'July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">K2, the second highest mountain in the world, is 8611 meters tall. Both of them successfully climbed the K2 at 10:45 am, according to the Seven Summit Treks Company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the successful climbing of the mountain, Kristin and Tenjen have scaled 14 mountains above 8,000 meters in three months, said Managing Director of the Company, Mingma Sherpa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, climber Nirmal Purja had scaled these 14 mountains in six months and six days in 2019. Kristin and Tenjen had set a target to climb 14 tallest mountains above 8,000 meters of the world within four months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin has also a record of becoming the first woman fastest climber scaling the 14 mountains above 8,000 meters of the world in one year and five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin and Tenjen have successfully climbed Mt Everest, Kanchanjangha, Lhotse, Makalu, Dhaulagiri, Manaslu, Cho Oyu, Shishapangma, Nanga Parbat, Gasherbrum-2, Gasherbrum-1, Broad Peak and Mt K2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18312', 'image' => '20230728121842_K2-Mountain.jpg', 'article_date' => '2023-07-28 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18582', 'article_category_id' => '1', 'title' => 'Record Grain Harvest Expected this Season Globally', 'sub_title' => 'India’s Ban of Rice Exports Likely to Trigger Price Hike Elsewhere', 'summary' => 'July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The International Grain Council (IGC), which includes both major producer and consumer nations, has forecast production of 2.3 billion tonnes of grains, which is slightly higher than the 2021-2022 season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that maize production continues to rise, with a 5.5 percent rise to 1.2 billion tonnes, thanks to more acreage in the United States and a record harvest expected in Brazil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IGC expects the production of rice, the top grain consumed by people, to rise by 2.5 percent to 527 million tones, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the wheat harvest is expected to come in at 784 million tonnes. That is stable in comparison to the last five years, but a reduction of 2.4 percent from last year when Russia and Australia had bumper harvests.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The pressure on wheat is due to the consumption forecast which is 20 million tonnes more than production," AAFP quoted Damien Vercambre, a trader at Inter-Courtage commodities brokerage, as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Demand for maize is even stronger, with consumption up by 30 million tonnes over the past year, but is covered by production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The increase is essentially for animal feed and is a sign of "the return of economic growth in Asia, where people eat more meat when their income permits," said Vercambre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest monthly report from the US Department of Agriculture, wheat stocks at major exporters are roughly 55 million tonnes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is a ten-year low and output hasn't risen much in the past three years, noted Sebastien Poncelet, a grain specialist at Agritel agricultural information service.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Added to this are concerns about how weather may affect output as well as geopolitical risks, with the grain deal which allowed Ukraine to export grain via the Black Sea having expired and Russia targeting the country's grain exporting infrastructure, including on the Danube, reported AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In Asia, analysts are keeping a close eye on the El Nino weather phenomenon, which is generally associated with a rise in global temperatures but for the moment is not expected to have a major impact on rice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The monsoons arrived normally, which allowed planting the crops in good conditions," Patricio Mendez del Villar, an economist who specialises in rice at CIRAD, a French governmental agency for agricultural research and international development, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But unexpectedly, India, the world's top rice exporter, banned exports of non-basmati white rice -- which accounts for around a quarter of its total.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The move risks triggering price increases elsewhere when world prices are already up 30 percent from last year and despite the fact that Thailand, Vietnam and Pakistan could compensate for the reduced Indian exports, said Mendez del Villar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One comforting element is that rice stocks are ample at 37 percent of annual consumption, compared to 25 percent during the 2008 crisis, when prices more than quadrupled in the space of a few months.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18311', 'image' => '20230727045325_paddyyy-transformed.jpeg', 'article_date' => '2023-07-27 16:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18580', 'article_category_id' => '1', 'title' => 'Competitive Price and Diplomatic Initiative a Must for Nepal to Export Electricity', 'sub_title' => '', 'summary' => 'July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. ', '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"">Madan Lamsal and Om Prakash Khanal</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"">July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. An agreement was also reached during Prime Minister Pushpa Kamal Dahal's visit to India. Similarly, by 2040, it is said that 9,000 megawatts of electricity will be sold to Bangladesh. Energy producers call it encouraging, but they see it as unlikely unless the country adopts a range of policy reforms and takes diplomatic initiatives.</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 Economic Survey 2080, the current installed capacity of electricity is 2,666 MW. At present, electricity is being imported during the dry season to meet the domestic demand of around 1700 megawatts. Ganesh Karki, president of the Independent Power Producers Association of Nepal (IPPAN), says that if the target of 10,000 megawatts of electricity generation is to be achieved in 10 years, serious homework should be started from today.</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"">IPPAN President Karki says that production is the primary condition for export. </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"">"In order to export hydropower to India, first of all, production has to be increased. There is a need for many policy reforms to increase production and consumption in the country,” he said. </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"">Electricity generators claim that the production of electricity will not be easy unless the procedural and policy problems seen in the construction of electricity development and distribution infrastructure are resolved.</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"">Karki's experience is that acquiring land for electricity development is the most difficult of all. Laws related to forests are against the development of electricity. Such laws and procedures should be suspended for at least 10 years. </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"">Kumar Pandey, an advisor to IPPAN, says that electricity export is not as easy as said. Pandey says that the main challenge is to produce electricity at a competitive price. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Nepal cannot export electricity unless the country has the capacity to provide electricity at a cheaper rate than India," said Pandey.</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 Pandey, Nepal produces electricity with the technology and equipment imported from India. Therefore, the price cannot be competitive unless the government gives concessions,, argues Pandey.</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"">Producers also say that billions of rupees need to be invested in transmission lines to export electricity to the market in India and Bangladesh. </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"">IPPAN President Karki suggests that there should be a clear policy arrangement to finance the investment of banks and external investors in production and transmission infrastructure. He claimed that only if the laws and procedures that are obstacles to electricity production are suspended for at least 10 years, the investment of the financial sector in this sector will increase.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Experts claimed that export will be possible only if Nepal produces electricity at competitive prices and there is continuous production of electricity. </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"">IPPAN's advisor Pandey argues that Nepal should put diplomatic efforts to India’s pre-condition to import electricity only if the investment is made by India.</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"">“This depends on Nepal's diplomatic and bargaining ability. We should be able to get India to agree to take products involving investors from countries other than Nepal and India," he said.</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"">Experts are of the opinion that India should also be positive in Nepal's electricity export to Bangladesh. Bangladesh has signed an agreement with Nepal to purchase 9,000 megawatts of electricity by 2040. A memorandum of understanding on cooperation in the energy sector between Nepal and Bangladesh has also been signed.</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"">Bangladesh is heavily dependent on gas (51 percent) to meet its demand for energy, while the country’s hydropower is dependent on imports. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The basis for exporting electricity to Bangladesh from Nepal has been created after the two countries signed an agreement for cooperation in the energy sector in 2018.</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"">However, analyst Jagdish Prasad Agarwal is of the opinion that unless India's role is positive, electricity cannot be directly exported to Bangladesh through Indian land from Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It is doubtful that India will allow direct export of electricity to Bangladesh through its land in the current situation where India is trying to control electricity trade through various policy directives. </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"">“There may also be a situation where India buys from Nepal and exports to Bangladesh," says Agarwal.</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"">IPPAN President Karki also sees the potential of this option in exporting electricity to Bangladesh. </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"">“India cannot stop electricity export to Bangladesh. There are also issues of international pressure. Instead, India can buy electricity from Nepal and sell it to Bangladesh,” says Karki.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18309', 'image' => '20230727020947_electricity.jpg', 'article_date' => '2023-07-27 14:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18579', 'article_category_id' => '1', 'title' => 'KMC Requests Taxpayers to Pay Taxes within Deadline ', 'sub_title' => '', 'summary' => 'July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice, the Department of Revenue of the KMC requested to pay tax and get discount facility. The KMC has offered exemption in property tax, rental tax and business tax. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice reads that 10 per cent exemption has been offered on the tax amount of the current fiscal year if it is paid within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, additional 30 per cent discount would be offered in case of taxpayers who have been operating hotel, resort or movie theatre on their own land or on lease in the metropolitan city if they pay property tax with arrears by mid-January 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that property tax of the parking lot of a building constructed with the purpose of commercial parking of vehicles would be exempted for 10 years from the date of completion of the building construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is provision of 95 percent discount on business tax and registration fees of an industry or enterprise operated under the 'One Ward, One Model Industry' programme for three years since the registration of the industry or business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A 40 percent tax exemption has been provided for industries, businesses, companies, organisations registered in the name of women and people from the indigenous nationalities and Dalit communities, people with disabilities of whichever age group and youths below 35 years of age and the ones that have capital investment up to Rs 500,000, if they pay the tax within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a 25 percent tax exemption has been announced for regular tax-payers. However, individuals who are the permanent residents of Kathmandu Metropolitan City will get a 50 percent tax exemption on such tax if they pay the tax within the stipulated date. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18308', 'image' => '20230727013237_tax.jpg', 'article_date' => '2023-07-27 13:31:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18578', 'article_category_id' => '1', 'title' => 'Nepal Imported Fertilizers Worth Rs 113.90 Billion in Five Years', 'sub_title' => '', 'summary' => 'July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. ', '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 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, billions of rupees are spent every year to import fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, more than Rs 113.90 billion have been spent for importing fertilizer in the last five years. In the fiscal year (FY) 2022/23 alone, Nepal imported 426,007 metric tons of chemical fertilizers worth Rs 40.65 billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Agriculture, 88 percent of plantation has been completed across the country as of July 21. In the same period last year, 65 percent plantation was completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, plantation of paddy has been reduced by 12 percent this year compared to 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:"Arial","sans-serif"">According to the department, lack of chemical fertilizers was considered as the reason behind the delay in planting in the past but there is no shortage this time.</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"">This year, paddy plantation has been reduced mainly because of the delay in the onset of monsoon in Madhesh, Koshi and Bagmati provinces. </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"">Also, the outbreak of the lumpy skin disease in Karnali and Sudurpaschim provinces has also affected planting this year because the disease has affected cattle used for ploughing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, paddy plantation is expected to gradually increase when the monsoon becomes more active and the availability of chemical fertilizers is ensured. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Ministry of Agriculture, two state-owned companies – Agricultural Inputs Company Limited and Salt Trading Corporation – have imported 376,874 metric tons of chemical fertilizers as of July 16. Currently, these two companies have a stock of 64,413 metric tons of chemical fertilizers.</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"">These two companies sold 342,462 metric tons of chemical fertilizers in the last fiscal year (FY 2022/23). </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18307', 'image' => '20230727010535_1690421631.2023-07-27 07.17.16_11zon.jpg', 'article_date' => '2023-07-27 13:04:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18577', 'article_category_id' => '1', 'title' => 'Indian National Arrested in Nepal for Bank Robbery', 'sub_title' => '', 'summary' => 'July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The accused has been identified as Ajay Kumar Safi, 20, of Bihar. He was one of the members of a group that allegedly robbed NMB Bank’s branch in Mahottari Rural Municipality-2 on May 30 and made away with Rs 1.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was apprehended on Wednesday evening from the Nepal-India border at Matihani-8, confirmed Deputy Superintendent of Police Dilip Kumar Giri, the spokesperson for the District Police Office, Mahottari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A masked gang of four to five men who arrived at the bank on stolen motorcycles robbed the bank about two months ago by taking bank employees and customers hostage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the day of the crime took place, police had been searching for the gang with the help of technology as well as specialized agency of Nepal Police and cross-border coordination with the Indian police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, police have also identified the other accused in the crime and are intensely searching for them. Police hope that they will be arrested soon, said Inspector Prakash Malla. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18306', 'image' => '20230727122310_blank - Copy.jpg', 'article_date' => '2023-07-27 12:22:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18576', 'article_category_id' => '1', 'title' => 'Swimmer Gaurika Singh Sets New National Record in Japan', 'sub_title' => '', 'summary' => 'July 27: Nepal’s swimmer Gaurika Singh, who clinched multiple gold medals in the South Asian Games (SAG), has set a new national record in individual performance in the 20th edition of the World Aquatics Championship-2023 underway in Fukuoka, Japan. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: Nepal’s swimmer Gaurika Singh, who clinched multiple gold medals in the South Asian Games (SAG), has set a new national record in individual performance in the 20th edition of the World Aquatics Championship-2023 underway in Fukuoka, Japan. </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"">Chairperson of Nepal Swimming Association, Ashok Bajracharya informed RSS that Singh set a new national record by completing 50-meter backstroking in 31.44 seconds on Wednesday. With this, she broke her own record of 31.87 seconds in 50-meter backstroke category. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Singh has bettered on her previous record she had established in the 12th SAG held in India in 2016. </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"">Singh made her debut in the Rio Olympics 2016 at a tender age of 13 and was the youngest sportsperson at the sports jamboree. According to the official website of the International Olympics Committee, Singh had secured 31<sup>st</sup> position in the women’s 100 meters backstroke in the Rio Olympics. </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"">Only a few days ago, she had set another national record in women’s 100 meters backstroke with a timing of 1 minute 6.08 seconds in Japan.</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"">Likewise, another Nepali swimmer Alexander Shah also set a new national record by slightly improving his performance in 100-meter freestyle category of swimming. </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"">Alexander set a new record in the 100-meter swimming with a timing of 52.94 seconds by improving his previous record of 52.96 seconds. He had made the previous record in the recently-held 11th NSA Cup Championship. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s team manager Naresh Baidya informed RSS that Dubana Lama and Alexander Shah are competing in 100-meter and 40-meter free style, respectively. </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18305', 'image' => '20230727110403_gaurika.jpg', 'article_date' => '2023-07-27 11:03:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18575', 'article_category_id' => '1', 'title' => 'IMF Revises Global Growth to 3 Percent in 2023', 'sub_title' => '', 'summary' => 'July 27: The International Monetary Fund (IMF) has revised its outlook for global growth for this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said on Tuesday.', 'content' => '<p><span style="font-size:18px">July 27: The International Monetary Fund (IMF) has revised its outlook for global growth for this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said on Tuesday.</span></p> <p><span style="font-size:18px">The growth forecast for this year was raised by 0.2 percentage points from the IMF's last estimate in April, putting the world economy on track for three percent growth in both 2023 and 2024.</span></p> <p><span style="font-size:18px">“While the forecast for 2023 is modestly higher than predicted in the April 2023 World Economic Outlook (WEO), it remains weak by historical standards. Global growth is projected to fall from an estimated 3.5 percent in 2022 to 3.0 percent in both 2023 and 2024,” IMF said in its World Economic Outlook update in July.</span></p> <p><span style="font-size:18px">According to the latest report, the rise in central bank policy rates to fight inflation continues to weigh on economic activities. Global headline inflation is expected to fall from 8.7 percent in 2022 to 6.8 percent in 2023 and 5.2 percent in 2024, added the report.</span></p> <p><span style="font-size:18px">“Underlying (core) inflation is projected to decline more gradually, and forecasts for inflation in 2024 have been revised upward.”</span></p> <p><span style="font-size:18px">The IMF said that the recent resolution of the US debt ceiling standoff and strong action by authorities to contain turbulence in US and Swiss banking reduced the immediate risks of financial sector turmoil.</span></p> <p><span style="font-size:18px">“This moderated adverse risks to the outlook. However, the balance of risks to global growth remains tilted to the downside. Inflation could remain high and even rise if further shocks occur, including those from an intensification of the war in Ukraine and extreme weather-related events, triggering more restrictive monetary policy,” states the report.</span></p> <p><span style="font-size:18px">According to the IMF, financial sector turbulence could resume as markets adjust to further policy tightening by central banks. On the upside, inflation could fall faster than expected, reducing the need for tight monetary policy, and domestic demand could again prove more resilient.</span></p> <p><span style="font-size:18px">In most economies, the priority remains achieving sustained disinflation while ensuring financial stability. Therefore, central banks should remain focused on restoring price stability and strengthen financial supervision and risk monitoring, added the report.</span></p> <p><span style="font-size:18px">“Should market strains materialize, countries should provide liquidity promptly while mitigating the possibility of moral hazard. They should also build fiscal buffers, with the composition of fiscal adjustment ensuring targeted support for the most vulnerable. Improvements to the supply side of the economy would facilitate fiscal consolidation and a smoother decline of inflation toward target levels.”</span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => 'IMF, growth, global, economy, inflation, Ukraine, war, lender, estimate, percentage', 'description' => '', 'sortorder' => '18304', 'image' => '20230727101422_20230726091211_20220426051733_imf.jpg', 'article_date' => '2023-07-27 10:13:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18574', 'article_category_id' => '1', 'title' => 'Gold Imports Witness 42% Decrease in FY 2022/2023; Prices Double in Five Years', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023, Nepal imported gold worth 22 billion 35 crore rupees. According to the statistics of the Department of Customs, in the fiscal year 2079/80, Nepal imported 29 lakh 16 thousand 586 grams of yellow metal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 27: In the fiscal year 2022/2023, Nepal imported gold worth 22 billion 35 crore rupees. According to the statistics of the Department of Customs, in the fiscal year 2079/80, Nepal imported 29 lakh 16 thousand 586 grams of yellow metal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gold import in the last fiscal year marks a 42% decrease from the previous fiscal year (2078/79) when Nepal imported gold worth 35 billion 50 lakh 53 thousand grams. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the decrease in gold imports, the government’s revenue collection has also decreased. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the previous fiscal year, revenue collection from gold imports amounted to 4 billion 29 crore rupees, while in the last fiscal year, it stood at Rs 2 billion 53 crore rupees.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal imported yellow metal from the United Arab Emirates (UAE), Switzerland, Turkey, and Uzbekistan in the last fiscal year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the review period, most of the gold was imported from the UAE. In the fiscal year, Nepal imported 24,66,546 grams of worth Rs 18 billion 91 crores from the UAE.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Nepal imported 3 lakh 50 thousand grams of gold from Turkey worth 2 billion 72 crore rupees, 1 lakh grams from Switzerland worth 70 crore 99 lakh rupees, and 40 grams from Uzbekistan worth 2 lakh 80 thousand rupees.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Manik Ratna Shakya, the President of Federation of Nepal Gold and Silver Dealers Association, attributed the decrease in gold imports to the quota system. "The government has imposed a daily quota of 10 kilograms on gold imports till now. Therefore, the imports have decreased," Shakya said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He added that due to the economic slowdown, the current supply has sustained the demand in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Gold prices have doubled in the last five years. In the month of Shrawan of 2075, gold was traded at Rs. 56,700 per tola.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">At present, the price of gold stands Rs. 1,12,700 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Association. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although there have been fluctuations in gold prices over five years, the price has remained above one lakh in recent months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The businessmen predict that the price of gold will continue to rise in the days to come. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18303', 'image' => '20230727061337_collage.jpg', 'article_date' => '2023-07-27 06:11:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18572', 'article_category_id' => '1', 'title' => 'UML Obstructs HoR Meeting, Demands Probe into Gold Scam ', 'sub_title' => '', 'summary' => 'July 26: The main opposition party, CPN (UML), on Wednesday obstructed the proceedings of the House of Representatives, demanding formation of a high-level committee to probe the recent gold scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: The main opposition party, CPN (UML), on Wednesday obstructed the proceedings of the House of Representatives, demanding formation of a high-level committee to probe the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Whip of the CPN (UML), Padam Giri, demanded parliamentary ruling in the name of the government for investigation into the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers of the CPN (UML) reached the 'rostrum' chanting slogans demanding action against gold smugglers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that all the agendas set for the house meeting were removed, Speaker Devraj Ghimire announced postponement of the meeting until July 31. </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 recent case of gold smuggling has taken centre stage in the political and social circle after more than 100 kilograms of gold was cleared by the customs officials of Tribhuvan International Airport last Wednesday. However, a team from the Department of Revenue Investigation seized the large quantity of gold from outside the airport with the help of a special tip off. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18301', 'image' => '20230726085859_20230713052749_parliament building.jpg', 'article_date' => '2023-07-26 20:58:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18571', 'article_category_id' => '1', 'title' => 'Kathmandu has the Highest Population Density in Nepal: National Census', 'sub_title' => '', 'summary' => 'July 26: Federal capital Kathmandu is the city having the largest population size and highest population density in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 26: Federal capital Kathmandu is the city having the largest population size and highest population density in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Census-2078 BS (2021) issued by the National Statistics Office, the population of Kathmandu has surpassed two million, reaching a total of 2,041,587 residents, whereas Manang has the lowest population with only 5,658 inhabitants.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report shows Nepal's overall population density is 198 per square kilometer. The previous National Census 2011 had put this figure at 180. The population density is significantly higher in the Terai region, where it is 460 people per square kilometer and in the mountainous regions it is just 34 per square kilometer.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While assessing the district-wise statistics, the population density in Kathmandu is 5,169 per square kilometer and in Manang it is just 3.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The segregated population data concerning Kathmandu shows that the number of males is 1,035,726 and the number of females is 1,005,861.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On average, there are 3.75 people per household in Kathmandu, and the age group of 20-24 years constitutes the highest proportion of the population, with 226,660 individuals falling into this category. The figure is 11.10 percent of the total population of Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the population of the 25 to 29 age group is 215,120, while the populace above 90 years of age is 980. A total of 542,892 families inhabit the district, of which 362,147 are headed by men, and 182,720 by women.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of married people stands at 1,788,062, of which 898,352 are married men, and 889,710 married women.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The figure of widows is 46,096 and widower 9,755 while the number of divorce cases stands at 4,182 (2,844 divorcee women and 1,338 divorcee men). A total of 197,347 people above five years of age are illiterate (52,952 male, and 144,395 female). A total of 283,862 people (149,806 male and 134,056 female) have received education up to primary level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, 10,275 families use firewood for cooking. Similarly, 526,931 families have been dependent on LPG, 4,694 on electricity, 561 on biogas, 157 on kerosene and 274 on other energy sources.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Five hundred and seventy-five families in Kathmandu do not have toilet facility at home while 1,305 families use public toilets. The National Census data shows that 852,555 people, including 349,274 men and 503,281 women belonging to the 10 years and above age group in Kathmandu are not connected to any economic activities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among those people who are not connected to any income-generating activity in the last one year, 376,954 are students, 198,630 are people involved in domestic work, 63,103 are elderly and 16,011 are physically handicapped.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statistics show that 512,427 people hold jobs, 32,318 have given employment to others, 282,552 people are running their business and 108,013 are assisting in their family businesses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of children below 18 years of age is 508,399 and of them, 402,174 live with both parents, 55,369 live only with their mother, 7,200 live only with their father, 877 live with their father and stepmother, 228 live with their mother and step father, 28,343 live with other relatives and 971 are looked after by employees.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There are 258,138 residential buildings, 24,476 buildings built for commercial and business purpose, 3,175 governmental buildings, 3,125 educational blocks, 667 health sector buildings, 3,892 industry sector blocks, 664 bank and financial sector-related buildings, 3,024 hotels and lodges and 4,276 store and warehouses in Kathmandu. -- RSS</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18300', 'image' => '20230726060105_Kathmandu-City-Of-Ruins.jpg', 'article_date' => '2023-07-26 18:00:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18570', 'article_category_id' => '1', 'title' => 'ICP yet to Operate Two Months after its Inauguration ', 'sub_title' => '', 'summary' => 'July 26: The integrated check post (ICP) along the Nepal-India border in Nepalgunj is yet to come into operation even one and a half months after its inauguration. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: The integrated check post (ICP) along the Nepal-India border in Nepalgunj is yet to come into operation even one and a half months after its inauguration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal and his Indian counterpart Narendra Modi had jointly inaugurated the ICP in Nepalgunj-Rupaidiya in June. They had inaugurated the check post remotely from Hyderabad House, the Office of the Indian Prime Minister during PM Dahal’s India visit. The ICP is expected to facilitate improved cross-border connectivity between Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Building Division Office in Nepalgunj, Bijay Keshar Khanal, said that the ICP has not been operational as the construction company is yet to hand over the building to the government. Likewise, the tasks of the physical works are still ongoing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the jobs of human resource management and security arrangement are likely to compete soon, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Khanal stated that it could take some two more months for the operation of the ICP in Nepalgunj. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18299', 'image' => '20230726044350_nepalgunj-check-point-2023.jpg', 'article_date' => '2023-07-26 16:43:06', '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' => '18585', 'article_category_id' => '1', 'title' => 'Banks have Loanable Funds of around Rs 400 Billion', 'sub_title' => '', 'summary' => 'July 28: The loanable funds of banks has reached almost Rs 400 billion. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 28: The loanable funds of banks has reached almost Rs 400 billion. The investible funds of banks has increased due to the inability of banks to increase credit expansion compared to deposit collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, deposits in banks and financial institutions have reached Rs 5621 billion as of Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, total credit flow of BFIs stands at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4850</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The credit-deposit ratio (CD ratio) of banks has remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">83.21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks are allowed to give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to this provision, commercial banks have the capacity to extend additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the last day of the last fiscal year, the CD ratio of banks had fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Accordingly, banks had the capacity to extend loans up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. However, the amount of bank deposits decreased after the facility of banks to calculate deposits from the local levels’ accumulated fund was removed. Deposits reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5767</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the last day of the last fiscal year and decreased by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the second day of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the lack of liquidity in banks and financial institutions, the government last year gave the facility to count up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the accumulated money of the local level as bank deposits. This facility has been reduced from the current year due to excess liquidity in the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the end of the facility given to the banks, the deposit has decreased, and the interbank interest rate has also remained high. The central bank informed that the interbank interest rate remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the last fiscal year, the interbank interest rate fell below </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. After the interbank interest rate fell below the target limit, the NRB tried to bring it within the limit by mopping excess liquidity through reverse repo and deposit collection tools but was unable to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, president of Nepal Bankers Association, an organization of chief executive officers of A class banks, says that the liquidity (investable amount) has been consistently high for the past few months because there has been no expansion of credit compared to the increase in deposits. He said that because there is no demand for loans in the market due to high interest rates, liquidity has accumulated in banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank, which issued a tight monetary policy last year, has adopted a strategy of reducing credit flow this year as well. It has been mentioned in the monetary policy that the private sector is burdened with more debt and this has also started increasing non-performing loans.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18315', 'image' => '20230728012659_bankkkkkkk.jpg', 'article_date' => '2023-07-28 13:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18586', 'article_category_id' => '1', 'title' => 'NFN calls for Declaring a Pandemic of Lumpy Skin Disease ', 'sub_title' => '', 'summary' => 'July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has also called for controlling the disease at the earliest, and providing compensation to the affected farmers. Or else a protest programme would be launched, the NFN warned at a press conference organised on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Various nine organisations working for the welfare of farmers are associated with the Network. On the occasion, the network’s coordinator Ganesh Chandra Timilsina, who is also the president of the Nepal Farmers Association, a wing of the Nepali Congress, said the lumpy skin disease has affected many farmers across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, chairperson of the All Nepal Peasants Federation, a wing of the CPN (UML), Dr Prem Dangal said over 50,000 domestic animals have died from the disease, resulting in the loss of around Rs 40 billion. Additional Rs 1 billion would be lost if the disease is not contained, he warned. </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 network has also demanded that the stalls at the Kalimati fruit and vegetable market be rented out through competitive bidding process. As part of its protest, NFN has launched a sit-in before the office of the Kalimati Fruits and Vegetable Market Development Committee. Likewise, the network demanded smooth supply of fertilisers and investigations into the delay in releasing the money under agriculture insurance. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18314', 'image' => '20230728020425_Lumpy-Skin-Disease.jpg', 'article_date' => '2023-07-28 14:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18584', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs File Writ Petition against VAT Imposed on Air Services', 'sub_title' => '', 'summary' => 'July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services.', '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 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services. The businessmen decided to move the court after the government turned a deaf ear to their demand that such tax should not be imposed considering the crisis this sector has been facing post Covid-19 pandemic.</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"">Nepal Association of Tour and Travel Agents (NATTA) on Thursday filed the petition demanding cancellation of VAT system on air services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had imposed VAT on air services through the budget announced for the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramesh Thapa, president of NATTA, said that the government did not respond to their request to amend the provision. According to him, NATTA decided to file the case as per the decision taken by the association’s former council members, NATTA’s incumbent members, legal professionals, tax consultants and NATTA board.</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"">NATTA stressed on the need for cooperation between the government and the private sector for sustainable development of the tourism industry and that they are ready for discussion and cooperation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18313', 'image' => '20230728125051_231385-nepal - Copy.jpg', 'article_date' => '2023-07-28 12:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18583', 'article_category_id' => '1', 'title' => 'Kristin and Tenjen Scale Mt K2, Setting World Record of Scaling 14 Peaks in Shortest Time', 'sub_title' => '', 'summary' => 'July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">K2, the second highest mountain in the world, is 8611 meters tall. Both of them successfully climbed the K2 at 10:45 am, according to the Seven Summit Treks Company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the successful climbing of the mountain, Kristin and Tenjen have scaled 14 mountains above 8,000 meters in three months, said Managing Director of the Company, Mingma Sherpa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, climber Nirmal Purja had scaled these 14 mountains in six months and six days in 2019. Kristin and Tenjen had set a target to climb 14 tallest mountains above 8,000 meters of the world within four months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin has also a record of becoming the first woman fastest climber scaling the 14 mountains above 8,000 meters of the world in one year and five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin and Tenjen have successfully climbed Mt Everest, Kanchanjangha, Lhotse, Makalu, Dhaulagiri, Manaslu, Cho Oyu, Shishapangma, Nanga Parbat, Gasherbrum-2, Gasherbrum-1, Broad Peak and Mt K2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18312', 'image' => '20230728121842_K2-Mountain.jpg', 'article_date' => '2023-07-28 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18582', 'article_category_id' => '1', 'title' => 'Record Grain Harvest Expected this Season Globally', 'sub_title' => 'India’s Ban of Rice Exports Likely to Trigger Price Hike Elsewhere', 'summary' => 'July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The International Grain Council (IGC), which includes both major producer and consumer nations, has forecast production of 2.3 billion tonnes of grains, which is slightly higher than the 2021-2022 season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that maize production continues to rise, with a 5.5 percent rise to 1.2 billion tonnes, thanks to more acreage in the United States and a record harvest expected in Brazil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IGC expects the production of rice, the top grain consumed by people, to rise by 2.5 percent to 527 million tones, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the wheat harvest is expected to come in at 784 million tonnes. That is stable in comparison to the last five years, but a reduction of 2.4 percent from last year when Russia and Australia had bumper harvests.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The pressure on wheat is due to the consumption forecast which is 20 million tonnes more than production," AAFP quoted Damien Vercambre, a trader at Inter-Courtage commodities brokerage, as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Demand for maize is even stronger, with consumption up by 30 million tonnes over the past year, but is covered by production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The increase is essentially for animal feed and is a sign of "the return of economic growth in Asia, where people eat more meat when their income permits," said Vercambre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest monthly report from the US Department of Agriculture, wheat stocks at major exporters are roughly 55 million tonnes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is a ten-year low and output hasn't risen much in the past three years, noted Sebastien Poncelet, a grain specialist at Agritel agricultural information service.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Added to this are concerns about how weather may affect output as well as geopolitical risks, with the grain deal which allowed Ukraine to export grain via the Black Sea having expired and Russia targeting the country's grain exporting infrastructure, including on the Danube, reported AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In Asia, analysts are keeping a close eye on the El Nino weather phenomenon, which is generally associated with a rise in global temperatures but for the moment is not expected to have a major impact on rice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The monsoons arrived normally, which allowed planting the crops in good conditions," Patricio Mendez del Villar, an economist who specialises in rice at CIRAD, a French governmental agency for agricultural research and international development, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But unexpectedly, India, the world's top rice exporter, banned exports of non-basmati white rice -- which accounts for around a quarter of its total.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The move risks triggering price increases elsewhere when world prices are already up 30 percent from last year and despite the fact that Thailand, Vietnam and Pakistan could compensate for the reduced Indian exports, said Mendez del Villar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One comforting element is that rice stocks are ample at 37 percent of annual consumption, compared to 25 percent during the 2008 crisis, when prices more than quadrupled in the space of a few months.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18311', 'image' => '20230727045325_paddyyy-transformed.jpeg', 'article_date' => '2023-07-27 16:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18580', 'article_category_id' => '1', 'title' => 'Competitive Price and Diplomatic Initiative a Must for Nepal to Export Electricity', 'sub_title' => '', 'summary' => 'July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. ', '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"">Madan Lamsal and Om Prakash Khanal</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"">July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. An agreement was also reached during Prime Minister Pushpa Kamal Dahal's visit to India. Similarly, by 2040, it is said that 9,000 megawatts of electricity will be sold to Bangladesh. Energy producers call it encouraging, but they see it as unlikely unless the country adopts a range of policy reforms and takes diplomatic initiatives.</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 Economic Survey 2080, the current installed capacity of electricity is 2,666 MW. At present, electricity is being imported during the dry season to meet the domestic demand of around 1700 megawatts. Ganesh Karki, president of the Independent Power Producers Association of Nepal (IPPAN), says that if the target of 10,000 megawatts of electricity generation is to be achieved in 10 years, serious homework should be started from today.</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"">IPPAN President Karki says that production is the primary condition for export. </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"">"In order to export hydropower to India, first of all, production has to be increased. There is a need for many policy reforms to increase production and consumption in the country,” he said. </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"">Electricity generators claim that the production of electricity will not be easy unless the procedural and policy problems seen in the construction of electricity development and distribution infrastructure are resolved.</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"">Karki's experience is that acquiring land for electricity development is the most difficult of all. Laws related to forests are against the development of electricity. Such laws and procedures should be suspended for at least 10 years. </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"">Kumar Pandey, an advisor to IPPAN, says that electricity export is not as easy as said. Pandey says that the main challenge is to produce electricity at a competitive price. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Nepal cannot export electricity unless the country has the capacity to provide electricity at a cheaper rate than India," said Pandey.</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 Pandey, Nepal produces electricity with the technology and equipment imported from India. Therefore, the price cannot be competitive unless the government gives concessions,, argues Pandey.</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"">Producers also say that billions of rupees need to be invested in transmission lines to export electricity to the market in India and Bangladesh. </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"">IPPAN President Karki suggests that there should be a clear policy arrangement to finance the investment of banks and external investors in production and transmission infrastructure. He claimed that only if the laws and procedures that are obstacles to electricity production are suspended for at least 10 years, the investment of the financial sector in this sector will increase.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Experts claimed that export will be possible only if Nepal produces electricity at competitive prices and there is continuous production of electricity. </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"">IPPAN's advisor Pandey argues that Nepal should put diplomatic efforts to India’s pre-condition to import electricity only if the investment is made by India.</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"">“This depends on Nepal's diplomatic and bargaining ability. We should be able to get India to agree to take products involving investors from countries other than Nepal and India," he said.</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"">Experts are of the opinion that India should also be positive in Nepal's electricity export to Bangladesh. Bangladesh has signed an agreement with Nepal to purchase 9,000 megawatts of electricity by 2040. A memorandum of understanding on cooperation in the energy sector between Nepal and Bangladesh has also been signed.</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"">Bangladesh is heavily dependent on gas (51 percent) to meet its demand for energy, while the country’s hydropower is dependent on imports. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The basis for exporting electricity to Bangladesh from Nepal has been created after the two countries signed an agreement for cooperation in the energy sector in 2018.</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"">However, analyst Jagdish Prasad Agarwal is of the opinion that unless India's role is positive, electricity cannot be directly exported to Bangladesh through Indian land from Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It is doubtful that India will allow direct export of electricity to Bangladesh through its land in the current situation where India is trying to control electricity trade through various policy directives. </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"">“There may also be a situation where India buys from Nepal and exports to Bangladesh," says Agarwal.</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"">IPPAN President Karki also sees the potential of this option in exporting electricity to Bangladesh. </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"">“India cannot stop electricity export to Bangladesh. There are also issues of international pressure. Instead, India can buy electricity from Nepal and sell it to Bangladesh,” says Karki.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18309', 'image' => '20230727020947_electricity.jpg', 'article_date' => '2023-07-27 14:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18579', 'article_category_id' => '1', 'title' => 'KMC Requests Taxpayers to Pay Taxes within Deadline ', 'sub_title' => '', 'summary' => 'July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice, the Department of Revenue of the KMC requested to pay tax and get discount facility. The KMC has offered exemption in property tax, rental tax and business tax. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice reads that 10 per cent exemption has been offered on the tax amount of the current fiscal year if it is paid within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, additional 30 per cent discount would be offered in case of taxpayers who have been operating hotel, resort or movie theatre on their own land or on lease in the metropolitan city if they pay property tax with arrears by mid-January 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that property tax of the parking lot of a building constructed with the purpose of commercial parking of vehicles would be exempted for 10 years from the date of completion of the building construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is provision of 95 percent discount on business tax and registration fees of an industry or enterprise operated under the 'One Ward, One Model Industry' programme for three years since the registration of the industry or business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A 40 percent tax exemption has been provided for industries, businesses, companies, organisations registered in the name of women and people from the indigenous nationalities and Dalit communities, people with disabilities of whichever age group and youths below 35 years of age and the ones that have capital investment up to Rs 500,000, if they pay the tax within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a 25 percent tax exemption has been announced for regular tax-payers. However, individuals who are the permanent residents of Kathmandu Metropolitan City will get a 50 percent tax exemption on such tax if they pay the tax within the stipulated date. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18308', 'image' => '20230727013237_tax.jpg', 'article_date' => '2023-07-27 13:31:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18578', 'article_category_id' => '1', 'title' => 'Nepal Imported Fertilizers Worth Rs 113.90 Billion in Five Years', 'sub_title' => '', 'summary' => 'July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. ', '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 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, billions of rupees are spent every year to import fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, more than Rs 113.90 billion have been spent for importing fertilizer in the last five years. In the fiscal year (FY) 2022/23 alone, Nepal imported 426,007 metric tons of chemical fertilizers worth Rs 40.65 billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Agriculture, 88 percent of plantation has been completed across the country as of July 21. In the same period last year, 65 percent plantation was completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, plantation of paddy has been reduced by 12 percent this year compared to 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:"Arial","sans-serif"">According to the department, lack of chemical fertilizers was considered as the reason behind the delay in planting in the past but there is no shortage this time.</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"">This year, paddy plantation has been reduced mainly because of the delay in the onset of monsoon in Madhesh, Koshi and Bagmati provinces. </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"">Also, the outbreak of the lumpy skin disease in Karnali and Sudurpaschim provinces has also affected planting this year because the disease has affected cattle used for ploughing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, paddy plantation is expected to gradually increase when the monsoon becomes more active and the availability of chemical fertilizers is ensured. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Ministry of Agriculture, two state-owned companies – Agricultural Inputs Company Limited and Salt Trading Corporation – have imported 376,874 metric tons of chemical fertilizers as of July 16. Currently, these two companies have a stock of 64,413 metric tons of chemical fertilizers.</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"">These two companies sold 342,462 metric tons of chemical fertilizers in the last fiscal year (FY 2022/23). </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18307', 'image' => '20230727010535_1690421631.2023-07-27 07.17.16_11zon.jpg', 'article_date' => '2023-07-27 13:04:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18577', 'article_category_id' => '1', 'title' => 'Indian National Arrested in Nepal for Bank Robbery', 'sub_title' => '', 'summary' => 'July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The accused has been identified as Ajay Kumar Safi, 20, of Bihar. He was one of the members of a group that allegedly robbed NMB Bank’s branch in Mahottari Rural Municipality-2 on May 30 and made away with Rs 1.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was apprehended on Wednesday evening from the Nepal-India border at Matihani-8, confirmed Deputy Superintendent of Police Dilip Kumar Giri, the spokesperson for the District Police Office, Mahottari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A masked gang of four to five men who arrived at the bank on stolen motorcycles robbed the bank about two months ago by taking bank employees and customers hostage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the day of the crime took place, police had been searching for the gang with the help of technology as well as specialized agency of Nepal Police and cross-border coordination with the Indian police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, police have also identified the other accused in the crime and are intensely searching for them. Police hope that they will be arrested soon, said Inspector Prakash Malla. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18306', 'image' => '20230727122310_blank - Copy.jpg', 'article_date' => '2023-07-27 12:22:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18576', 'article_category_id' => '1', 'title' => 'Swimmer Gaurika Singh Sets New National Record in Japan', 'sub_title' => '', 'summary' => 'July 27: Nepal’s swimmer Gaurika Singh, who clinched multiple gold medals in the South Asian Games (SAG), has set a new national record in individual performance in the 20th edition of the World Aquatics Championship-2023 underway in Fukuoka, Japan. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: Nepal’s swimmer Gaurika Singh, who clinched multiple gold medals in the South Asian Games (SAG), has set a new national record in individual performance in the 20th edition of the World Aquatics Championship-2023 underway in Fukuoka, Japan. </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"">Chairperson of Nepal Swimming Association, Ashok Bajracharya informed RSS that Singh set a new national record by completing 50-meter backstroking in 31.44 seconds on Wednesday. With this, she broke her own record of 31.87 seconds in 50-meter backstroke category. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Singh has bettered on her previous record she had established in the 12th SAG held in India in 2016. </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"">Singh made her debut in the Rio Olympics 2016 at a tender age of 13 and was the youngest sportsperson at the sports jamboree. According to the official website of the International Olympics Committee, Singh had secured 31<sup>st</sup> position in the women’s 100 meters backstroke in the Rio Olympics. </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"">Only a few days ago, she had set another national record in women’s 100 meters backstroke with a timing of 1 minute 6.08 seconds in Japan.</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"">Likewise, another Nepali swimmer Alexander Shah also set a new national record by slightly improving his performance in 100-meter freestyle category of swimming. </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"">Alexander set a new record in the 100-meter swimming with a timing of 52.94 seconds by improving his previous record of 52.96 seconds. He had made the previous record in the recently-held 11th NSA Cup Championship. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s team manager Naresh Baidya informed RSS that Dubana Lama and Alexander Shah are competing in 100-meter and 40-meter free style, respectively. </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18305', 'image' => '20230727110403_gaurika.jpg', 'article_date' => '2023-07-27 11:03:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18575', 'article_category_id' => '1', 'title' => 'IMF Revises Global Growth to 3 Percent in 2023', 'sub_title' => '', 'summary' => 'July 27: The International Monetary Fund (IMF) has revised its outlook for global growth for this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said on Tuesday.', 'content' => '<p><span style="font-size:18px">July 27: The International Monetary Fund (IMF) has revised its outlook for global growth for this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said on Tuesday.</span></p> <p><span style="font-size:18px">The growth forecast for this year was raised by 0.2 percentage points from the IMF's last estimate in April, putting the world economy on track for three percent growth in both 2023 and 2024.</span></p> <p><span style="font-size:18px">“While the forecast for 2023 is modestly higher than predicted in the April 2023 World Economic Outlook (WEO), it remains weak by historical standards. Global growth is projected to fall from an estimated 3.5 percent in 2022 to 3.0 percent in both 2023 and 2024,” IMF said in its World Economic Outlook update in July.</span></p> <p><span style="font-size:18px">According to the latest report, the rise in central bank policy rates to fight inflation continues to weigh on economic activities. Global headline inflation is expected to fall from 8.7 percent in 2022 to 6.8 percent in 2023 and 5.2 percent in 2024, added the report.</span></p> <p><span style="font-size:18px">“Underlying (core) inflation is projected to decline more gradually, and forecasts for inflation in 2024 have been revised upward.”</span></p> <p><span style="font-size:18px">The IMF said that the recent resolution of the US debt ceiling standoff and strong action by authorities to contain turbulence in US and Swiss banking reduced the immediate risks of financial sector turmoil.</span></p> <p><span style="font-size:18px">“This moderated adverse risks to the outlook. However, the balance of risks to global growth remains tilted to the downside. Inflation could remain high and even rise if further shocks occur, including those from an intensification of the war in Ukraine and extreme weather-related events, triggering more restrictive monetary policy,” states the report.</span></p> <p><span style="font-size:18px">According to the IMF, financial sector turbulence could resume as markets adjust to further policy tightening by central banks. On the upside, inflation could fall faster than expected, reducing the need for tight monetary policy, and domestic demand could again prove more resilient.</span></p> <p><span style="font-size:18px">In most economies, the priority remains achieving sustained disinflation while ensuring financial stability. Therefore, central banks should remain focused on restoring price stability and strengthen financial supervision and risk monitoring, added the report.</span></p> <p><span style="font-size:18px">“Should market strains materialize, countries should provide liquidity promptly while mitigating the possibility of moral hazard. They should also build fiscal buffers, with the composition of fiscal adjustment ensuring targeted support for the most vulnerable. Improvements to the supply side of the economy would facilitate fiscal consolidation and a smoother decline of inflation toward target levels.”</span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => 'IMF, growth, global, economy, inflation, Ukraine, war, lender, estimate, percentage', 'description' => '', 'sortorder' => '18304', 'image' => '20230727101422_20230726091211_20220426051733_imf.jpg', 'article_date' => '2023-07-27 10:13:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18574', 'article_category_id' => '1', 'title' => 'Gold Imports Witness 42% Decrease in FY 2022/2023; Prices Double in Five Years', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023, Nepal imported gold worth 22 billion 35 crore rupees. According to the statistics of the Department of Customs, in the fiscal year 2079/80, Nepal imported 29 lakh 16 thousand 586 grams of yellow metal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 27: In the fiscal year 2022/2023, Nepal imported gold worth 22 billion 35 crore rupees. According to the statistics of the Department of Customs, in the fiscal year 2079/80, Nepal imported 29 lakh 16 thousand 586 grams of yellow metal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gold import in the last fiscal year marks a 42% decrease from the previous fiscal year (2078/79) when Nepal imported gold worth 35 billion 50 lakh 53 thousand grams. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the decrease in gold imports, the government’s revenue collection has also decreased. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the previous fiscal year, revenue collection from gold imports amounted to 4 billion 29 crore rupees, while in the last fiscal year, it stood at Rs 2 billion 53 crore rupees.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal imported yellow metal from the United Arab Emirates (UAE), Switzerland, Turkey, and Uzbekistan in the last fiscal year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the review period, most of the gold was imported from the UAE. In the fiscal year, Nepal imported 24,66,546 grams of worth Rs 18 billion 91 crores from the UAE.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Nepal imported 3 lakh 50 thousand grams of gold from Turkey worth 2 billion 72 crore rupees, 1 lakh grams from Switzerland worth 70 crore 99 lakh rupees, and 40 grams from Uzbekistan worth 2 lakh 80 thousand rupees.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Manik Ratna Shakya, the President of Federation of Nepal Gold and Silver Dealers Association, attributed the decrease in gold imports to the quota system. "The government has imposed a daily quota of 10 kilograms on gold imports till now. Therefore, the imports have decreased," Shakya said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He added that due to the economic slowdown, the current supply has sustained the demand in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Gold prices have doubled in the last five years. In the month of Shrawan of 2075, gold was traded at Rs. 56,700 per tola.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">At present, the price of gold stands Rs. 1,12,700 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Association. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although there have been fluctuations in gold prices over five years, the price has remained above one lakh in recent months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The businessmen predict that the price of gold will continue to rise in the days to come. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18303', 'image' => '20230727061337_collage.jpg', 'article_date' => '2023-07-27 06:11:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18572', 'article_category_id' => '1', 'title' => 'UML Obstructs HoR Meeting, Demands Probe into Gold Scam ', 'sub_title' => '', 'summary' => 'July 26: The main opposition party, CPN (UML), on Wednesday obstructed the proceedings of the House of Representatives, demanding formation of a high-level committee to probe the recent gold scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: The main opposition party, CPN (UML), on Wednesday obstructed the proceedings of the House of Representatives, demanding formation of a high-level committee to probe the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Whip of the CPN (UML), Padam Giri, demanded parliamentary ruling in the name of the government for investigation into the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers of the CPN (UML) reached the 'rostrum' chanting slogans demanding action against gold smugglers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that all the agendas set for the house meeting were removed, Speaker Devraj Ghimire announced postponement of the meeting until July 31. </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 recent case of gold smuggling has taken centre stage in the political and social circle after more than 100 kilograms of gold was cleared by the customs officials of Tribhuvan International Airport last Wednesday. However, a team from the Department of Revenue Investigation seized the large quantity of gold from outside the airport with the help of a special tip off. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18301', 'image' => '20230726085859_20230713052749_parliament building.jpg', 'article_date' => '2023-07-26 20:58:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18571', 'article_category_id' => '1', 'title' => 'Kathmandu has the Highest Population Density in Nepal: National Census', 'sub_title' => '', 'summary' => 'July 26: Federal capital Kathmandu is the city having the largest population size and highest population density in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 26: Federal capital Kathmandu is the city having the largest population size and highest population density in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Census-2078 BS (2021) issued by the National Statistics Office, the population of Kathmandu has surpassed two million, reaching a total of 2,041,587 residents, whereas Manang has the lowest population with only 5,658 inhabitants.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report shows Nepal's overall population density is 198 per square kilometer. The previous National Census 2011 had put this figure at 180. The population density is significantly higher in the Terai region, where it is 460 people per square kilometer and in the mountainous regions it is just 34 per square kilometer.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While assessing the district-wise statistics, the population density in Kathmandu is 5,169 per square kilometer and in Manang it is just 3.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The segregated population data concerning Kathmandu shows that the number of males is 1,035,726 and the number of females is 1,005,861.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On average, there are 3.75 people per household in Kathmandu, and the age group of 20-24 years constitutes the highest proportion of the population, with 226,660 individuals falling into this category. The figure is 11.10 percent of the total population of Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the population of the 25 to 29 age group is 215,120, while the populace above 90 years of age is 980. A total of 542,892 families inhabit the district, of which 362,147 are headed by men, and 182,720 by women.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of married people stands at 1,788,062, of which 898,352 are married men, and 889,710 married women.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The figure of widows is 46,096 and widower 9,755 while the number of divorce cases stands at 4,182 (2,844 divorcee women and 1,338 divorcee men). A total of 197,347 people above five years of age are illiterate (52,952 male, and 144,395 female). A total of 283,862 people (149,806 male and 134,056 female) have received education up to primary level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, 10,275 families use firewood for cooking. Similarly, 526,931 families have been dependent on LPG, 4,694 on electricity, 561 on biogas, 157 on kerosene and 274 on other energy sources.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Five hundred and seventy-five families in Kathmandu do not have toilet facility at home while 1,305 families use public toilets. The National Census data shows that 852,555 people, including 349,274 men and 503,281 women belonging to the 10 years and above age group in Kathmandu are not connected to any economic activities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among those people who are not connected to any income-generating activity in the last one year, 376,954 are students, 198,630 are people involved in domestic work, 63,103 are elderly and 16,011 are physically handicapped.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statistics show that 512,427 people hold jobs, 32,318 have given employment to others, 282,552 people are running their business and 108,013 are assisting in their family businesses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of children below 18 years of age is 508,399 and of them, 402,174 live with both parents, 55,369 live only with their mother, 7,200 live only with their father, 877 live with their father and stepmother, 228 live with their mother and step father, 28,343 live with other relatives and 971 are looked after by employees.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There are 258,138 residential buildings, 24,476 buildings built for commercial and business purpose, 3,175 governmental buildings, 3,125 educational blocks, 667 health sector buildings, 3,892 industry sector blocks, 664 bank and financial sector-related buildings, 3,024 hotels and lodges and 4,276 store and warehouses in Kathmandu. -- RSS</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18300', 'image' => '20230726060105_Kathmandu-City-Of-Ruins.jpg', 'article_date' => '2023-07-26 18:00:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18570', 'article_category_id' => '1', 'title' => 'ICP yet to Operate Two Months after its Inauguration ', 'sub_title' => '', 'summary' => 'July 26: The integrated check post (ICP) along the Nepal-India border in Nepalgunj is yet to come into operation even one and a half months after its inauguration. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: The integrated check post (ICP) along the Nepal-India border in Nepalgunj is yet to come into operation even one and a half months after its inauguration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal and his Indian counterpart Narendra Modi had jointly inaugurated the ICP in Nepalgunj-Rupaidiya in June. They had inaugurated the check post remotely from Hyderabad House, the Office of the Indian Prime Minister during PM Dahal’s India visit. The ICP is expected to facilitate improved cross-border connectivity between Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Building Division Office in Nepalgunj, Bijay Keshar Khanal, said that the ICP has not been operational as the construction company is yet to hand over the building to the government. Likewise, the tasks of the physical works are still ongoing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the jobs of human resource management and security arrangement are likely to compete soon, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Khanal stated that it could take some two more months for the operation of the ICP in Nepalgunj. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18299', 'image' => '20230726044350_nepalgunj-check-point-2023.jpg', 'article_date' => '2023-07-26 16:43:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 28: The loanable funds of banks has reached almost Rs 400 billion. The investible funds of banks has increased due to the inability of banks to increase credit expansion compared to deposit collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, deposits in banks and financial institutions have reached Rs 5621 billion as of Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, total credit flow of BFIs stands at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4850</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The credit-deposit ratio (CD ratio) of banks has remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">83.21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks are allowed to give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to this provision, commercial banks have the capacity to extend additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the last day of the last fiscal year, the CD ratio of banks had fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Accordingly, banks had the capacity to extend loans up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. However, the amount of bank deposits decreased after the facility of banks to calculate deposits from the local levels’ accumulated fund was removed. Deposits reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5767</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the last day of the last fiscal year and decreased by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the second day of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the lack of liquidity in banks and financial institutions, the government last year gave the facility to count up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the accumulated money of the local level as bank deposits. This facility has been reduced from the current year due to excess liquidity in the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the end of the facility given to the banks, the deposit has decreased, and the interbank interest rate has also remained high. The central bank informed that the interbank interest rate remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the last fiscal year, the interbank interest rate fell below </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. After the interbank interest rate fell below the target limit, the NRB tried to bring it within the limit by mopping excess liquidity through reverse repo and deposit collection tools but was unable to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, president of Nepal Bankers Association, an organization of chief executive officers of A class banks, says that the liquidity (investable amount) has been consistently high for the past few months because there has been no expansion of credit compared to the increase in deposits. He said that because there is no demand for loans in the market due to high interest rates, liquidity has accumulated in banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank, which issued a tight monetary policy last year, has adopted a strategy of reducing credit flow this year as well. It has been mentioned in the monetary policy that the private sector is burdened with more debt and this has also started increasing non-performing loans.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18315', 'image' => '20230728012659_bankkkkkkk.jpg', 'article_date' => '2023-07-28 13:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18586', 'article_category_id' => '1', 'title' => 'NFN calls for Declaring a Pandemic of Lumpy Skin Disease ', 'sub_title' => '', 'summary' => 'July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has also called for controlling the disease at the earliest, and providing compensation to the affected farmers. Or else a protest programme would be launched, the NFN warned at a press conference organised on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Various nine organisations working for the welfare of farmers are associated with the Network. On the occasion, the network’s coordinator Ganesh Chandra Timilsina, who is also the president of the Nepal Farmers Association, a wing of the Nepali Congress, said the lumpy skin disease has affected many farmers across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, chairperson of the All Nepal Peasants Federation, a wing of the CPN (UML), Dr Prem Dangal said over 50,000 domestic animals have died from the disease, resulting in the loss of around Rs 40 billion. Additional Rs 1 billion would be lost if the disease is not contained, he warned. </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 network has also demanded that the stalls at the Kalimati fruit and vegetable market be rented out through competitive bidding process. As part of its protest, NFN has launched a sit-in before the office of the Kalimati Fruits and Vegetable Market Development Committee. Likewise, the network demanded smooth supply of fertilisers and investigations into the delay in releasing the money under agriculture insurance. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18314', 'image' => '20230728020425_Lumpy-Skin-Disease.jpg', 'article_date' => '2023-07-28 14:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18584', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs File Writ Petition against VAT Imposed on Air Services', 'sub_title' => '', 'summary' => 'July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services.', '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 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services. The businessmen decided to move the court after the government turned a deaf ear to their demand that such tax should not be imposed considering the crisis this sector has been facing post Covid-19 pandemic.</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"">Nepal Association of Tour and Travel Agents (NATTA) on Thursday filed the petition demanding cancellation of VAT system on air services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had imposed VAT on air services through the budget announced for the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramesh Thapa, president of NATTA, said that the government did not respond to their request to amend the provision. According to him, NATTA decided to file the case as per the decision taken by the association’s former council members, NATTA’s incumbent members, legal professionals, tax consultants and NATTA board.</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"">NATTA stressed on the need for cooperation between the government and the private sector for sustainable development of the tourism industry and that they are ready for discussion and cooperation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18313', 'image' => '20230728125051_231385-nepal - Copy.jpg', 'article_date' => '2023-07-28 12:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18583', 'article_category_id' => '1', 'title' => 'Kristin and Tenjen Scale Mt K2, Setting World Record of Scaling 14 Peaks in Shortest Time', 'sub_title' => '', 'summary' => 'July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">K2, the second highest mountain in the world, is 8611 meters tall. Both of them successfully climbed the K2 at 10:45 am, according to the Seven Summit Treks Company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the successful climbing of the mountain, Kristin and Tenjen have scaled 14 mountains above 8,000 meters in three months, said Managing Director of the Company, Mingma Sherpa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, climber Nirmal Purja had scaled these 14 mountains in six months and six days in 2019. Kristin and Tenjen had set a target to climb 14 tallest mountains above 8,000 meters of the world within four months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin has also a record of becoming the first woman fastest climber scaling the 14 mountains above 8,000 meters of the world in one year and five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin and Tenjen have successfully climbed Mt Everest, Kanchanjangha, Lhotse, Makalu, Dhaulagiri, Manaslu, Cho Oyu, Shishapangma, Nanga Parbat, Gasherbrum-2, Gasherbrum-1, Broad Peak and Mt K2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18312', 'image' => '20230728121842_K2-Mountain.jpg', 'article_date' => '2023-07-28 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18582', 'article_category_id' => '1', 'title' => 'Record Grain Harvest Expected this Season Globally', 'sub_title' => 'India’s Ban of Rice Exports Likely to Trigger Price Hike Elsewhere', 'summary' => 'July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The International Grain Council (IGC), which includes both major producer and consumer nations, has forecast production of 2.3 billion tonnes of grains, which is slightly higher than the 2021-2022 season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that maize production continues to rise, with a 5.5 percent rise to 1.2 billion tonnes, thanks to more acreage in the United States and a record harvest expected in Brazil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IGC expects the production of rice, the top grain consumed by people, to rise by 2.5 percent to 527 million tones, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the wheat harvest is expected to come in at 784 million tonnes. That is stable in comparison to the last five years, but a reduction of 2.4 percent from last year when Russia and Australia had bumper harvests.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The pressure on wheat is due to the consumption forecast which is 20 million tonnes more than production," AAFP quoted Damien Vercambre, a trader at Inter-Courtage commodities brokerage, as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Demand for maize is even stronger, with consumption up by 30 million tonnes over the past year, but is covered by production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The increase is essentially for animal feed and is a sign of "the return of economic growth in Asia, where people eat more meat when their income permits," said Vercambre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest monthly report from the US Department of Agriculture, wheat stocks at major exporters are roughly 55 million tonnes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is a ten-year low and output hasn't risen much in the past three years, noted Sebastien Poncelet, a grain specialist at Agritel agricultural information service.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Added to this are concerns about how weather may affect output as well as geopolitical risks, with the grain deal which allowed Ukraine to export grain via the Black Sea having expired and Russia targeting the country's grain exporting infrastructure, including on the Danube, reported AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In Asia, analysts are keeping a close eye on the El Nino weather phenomenon, which is generally associated with a rise in global temperatures but for the moment is not expected to have a major impact on rice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The monsoons arrived normally, which allowed planting the crops in good conditions," Patricio Mendez del Villar, an economist who specialises in rice at CIRAD, a French governmental agency for agricultural research and international development, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But unexpectedly, India, the world's top rice exporter, banned exports of non-basmati white rice -- which accounts for around a quarter of its total.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The move risks triggering price increases elsewhere when world prices are already up 30 percent from last year and despite the fact that Thailand, Vietnam and Pakistan could compensate for the reduced Indian exports, said Mendez del Villar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One comforting element is that rice stocks are ample at 37 percent of annual consumption, compared to 25 percent during the 2008 crisis, when prices more than quadrupled in the space of a few months.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18311', 'image' => '20230727045325_paddyyy-transformed.jpeg', 'article_date' => '2023-07-27 16:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18580', 'article_category_id' => '1', 'title' => 'Competitive Price and Diplomatic Initiative a Must for Nepal to Export Electricity', 'sub_title' => '', 'summary' => 'July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. ', '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"">Madan Lamsal and Om Prakash Khanal</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"">July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. An agreement was also reached during Prime Minister Pushpa Kamal Dahal's visit to India. Similarly, by 2040, it is said that 9,000 megawatts of electricity will be sold to Bangladesh. Energy producers call it encouraging, but they see it as unlikely unless the country adopts a range of policy reforms and takes diplomatic initiatives.</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 Economic Survey 2080, the current installed capacity of electricity is 2,666 MW. At present, electricity is being imported during the dry season to meet the domestic demand of around 1700 megawatts. Ganesh Karki, president of the Independent Power Producers Association of Nepal (IPPAN), says that if the target of 10,000 megawatts of electricity generation is to be achieved in 10 years, serious homework should be started from today.</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"">IPPAN President Karki says that production is the primary condition for export. </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"">"In order to export hydropower to India, first of all, production has to be increased. There is a need for many policy reforms to increase production and consumption in the country,” he said. </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"">Electricity generators claim that the production of electricity will not be easy unless the procedural and policy problems seen in the construction of electricity development and distribution infrastructure are resolved.</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"">Karki's experience is that acquiring land for electricity development is the most difficult of all. Laws related to forests are against the development of electricity. Such laws and procedures should be suspended for at least 10 years. </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"">Kumar Pandey, an advisor to IPPAN, says that electricity export is not as easy as said. Pandey says that the main challenge is to produce electricity at a competitive price. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Nepal cannot export electricity unless the country has the capacity to provide electricity at a cheaper rate than India," said Pandey.</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 Pandey, Nepal produces electricity with the technology and equipment imported from India. Therefore, the price cannot be competitive unless the government gives concessions,, argues Pandey.</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"">Producers also say that billions of rupees need to be invested in transmission lines to export electricity to the market in India and Bangladesh. </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"">IPPAN President Karki suggests that there should be a clear policy arrangement to finance the investment of banks and external investors in production and transmission infrastructure. He claimed that only if the laws and procedures that are obstacles to electricity production are suspended for at least 10 years, the investment of the financial sector in this sector will increase.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Experts claimed that export will be possible only if Nepal produces electricity at competitive prices and there is continuous production of electricity. </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"">IPPAN's advisor Pandey argues that Nepal should put diplomatic efforts to India’s pre-condition to import electricity only if the investment is made by India.</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"">“This depends on Nepal's diplomatic and bargaining ability. We should be able to get India to agree to take products involving investors from countries other than Nepal and India," he said.</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"">Experts are of the opinion that India should also be positive in Nepal's electricity export to Bangladesh. Bangladesh has signed an agreement with Nepal to purchase 9,000 megawatts of electricity by 2040. A memorandum of understanding on cooperation in the energy sector between Nepal and Bangladesh has also been signed.</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"">Bangladesh is heavily dependent on gas (51 percent) to meet its demand for energy, while the country’s hydropower is dependent on imports. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The basis for exporting electricity to Bangladesh from Nepal has been created after the two countries signed an agreement for cooperation in the energy sector in 2018.</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"">However, analyst Jagdish Prasad Agarwal is of the opinion that unless India's role is positive, electricity cannot be directly exported to Bangladesh through Indian land from Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It is doubtful that India will allow direct export of electricity to Bangladesh through its land in the current situation where India is trying to control electricity trade through various policy directives. </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"">“There may also be a situation where India buys from Nepal and exports to Bangladesh," says Agarwal.</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"">IPPAN President Karki also sees the potential of this option in exporting electricity to Bangladesh. </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"">“India cannot stop electricity export to Bangladesh. There are also issues of international pressure. Instead, India can buy electricity from Nepal and sell it to Bangladesh,” says Karki.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18309', 'image' => '20230727020947_electricity.jpg', 'article_date' => '2023-07-27 14:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18579', 'article_category_id' => '1', 'title' => 'KMC Requests Taxpayers to Pay Taxes within Deadline ', 'sub_title' => '', 'summary' => 'July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice, the Department of Revenue of the KMC requested to pay tax and get discount facility. The KMC has offered exemption in property tax, rental tax and business tax. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice reads that 10 per cent exemption has been offered on the tax amount of the current fiscal year if it is paid within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, additional 30 per cent discount would be offered in case of taxpayers who have been operating hotel, resort or movie theatre on their own land or on lease in the metropolitan city if they pay property tax with arrears by mid-January 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that property tax of the parking lot of a building constructed with the purpose of commercial parking of vehicles would be exempted for 10 years from the date of completion of the building construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is provision of 95 percent discount on business tax and registration fees of an industry or enterprise operated under the 'One Ward, One Model Industry' programme for three years since the registration of the industry or business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A 40 percent tax exemption has been provided for industries, businesses, companies, organisations registered in the name of women and people from the indigenous nationalities and Dalit communities, people with disabilities of whichever age group and youths below 35 years of age and the ones that have capital investment up to Rs 500,000, if they pay the tax within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a 25 percent tax exemption has been announced for regular tax-payers. However, individuals who are the permanent residents of Kathmandu Metropolitan City will get a 50 percent tax exemption on such tax if they pay the tax within the stipulated date. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18308', 'image' => '20230727013237_tax.jpg', 'article_date' => '2023-07-27 13:31:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18578', 'article_category_id' => '1', 'title' => 'Nepal Imported Fertilizers Worth Rs 113.90 Billion in Five Years', 'sub_title' => '', 'summary' => 'July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. ', '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 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, billions of rupees are spent every year to import fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, more than Rs 113.90 billion have been spent for importing fertilizer in the last five years. In the fiscal year (FY) 2022/23 alone, Nepal imported 426,007 metric tons of chemical fertilizers worth Rs 40.65 billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Agriculture, 88 percent of plantation has been completed across the country as of July 21. In the same period last year, 65 percent plantation was completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, plantation of paddy has been reduced by 12 percent this year compared to 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:"Arial","sans-serif"">According to the department, lack of chemical fertilizers was considered as the reason behind the delay in planting in the past but there is no shortage this time.</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"">This year, paddy plantation has been reduced mainly because of the delay in the onset of monsoon in Madhesh, Koshi and Bagmati provinces. </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"">Also, the outbreak of the lumpy skin disease in Karnali and Sudurpaschim provinces has also affected planting this year because the disease has affected cattle used for ploughing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, paddy plantation is expected to gradually increase when the monsoon becomes more active and the availability of chemical fertilizers is ensured. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Ministry of Agriculture, two state-owned companies – Agricultural Inputs Company Limited and Salt Trading Corporation – have imported 376,874 metric tons of chemical fertilizers as of July 16. Currently, these two companies have a stock of 64,413 metric tons of chemical fertilizers.</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"">These two companies sold 342,462 metric tons of chemical fertilizers in the last fiscal year (FY 2022/23). </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18307', 'image' => '20230727010535_1690421631.2023-07-27 07.17.16_11zon.jpg', 'article_date' => '2023-07-27 13:04:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18577', 'article_category_id' => '1', 'title' => 'Indian National Arrested in Nepal for Bank Robbery', 'sub_title' => '', 'summary' => 'July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The accused has been identified as Ajay Kumar Safi, 20, of Bihar. He was one of the members of a group that allegedly robbed NMB Bank’s branch in Mahottari Rural Municipality-2 on May 30 and made away with Rs 1.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was apprehended on Wednesday evening from the Nepal-India border at Matihani-8, confirmed Deputy Superintendent of Police Dilip Kumar Giri, the spokesperson for the District Police Office, Mahottari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A masked gang of four to five men who arrived at the bank on stolen motorcycles robbed the bank about two months ago by taking bank employees and customers hostage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the day of the crime took place, police had been searching for the gang with the help of technology as well as specialized agency of Nepal Police and cross-border coordination with the Indian police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, police have also identified the other accused in the crime and are intensely searching for them. Police hope that they will be arrested soon, said Inspector Prakash Malla. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18306', 'image' => '20230727122310_blank - Copy.jpg', 'article_date' => '2023-07-27 12:22:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18576', 'article_category_id' => '1', 'title' => 'Swimmer Gaurika Singh Sets New National Record in Japan', 'sub_title' => '', 'summary' => 'July 27: Nepal’s swimmer Gaurika Singh, who clinched multiple gold medals in the South Asian Games (SAG), has set a new national record in individual performance in the 20th edition of the World Aquatics Championship-2023 underway in Fukuoka, Japan. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: Nepal’s swimmer Gaurika Singh, who clinched multiple gold medals in the South Asian Games (SAG), has set a new national record in individual performance in the 20th edition of the World Aquatics Championship-2023 underway in Fukuoka, Japan. </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"">Chairperson of Nepal Swimming Association, Ashok Bajracharya informed RSS that Singh set a new national record by completing 50-meter backstroking in 31.44 seconds on Wednesday. With this, she broke her own record of 31.87 seconds in 50-meter backstroke category. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Singh has bettered on her previous record she had established in the 12th SAG held in India in 2016. </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"">Singh made her debut in the Rio Olympics 2016 at a tender age of 13 and was the youngest sportsperson at the sports jamboree. According to the official website of the International Olympics Committee, Singh had secured 31<sup>st</sup> position in the women’s 100 meters backstroke in the Rio Olympics. </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"">Only a few days ago, she had set another national record in women’s 100 meters backstroke with a timing of 1 minute 6.08 seconds in Japan.</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"">Likewise, another Nepali swimmer Alexander Shah also set a new national record by slightly improving his performance in 100-meter freestyle category of swimming. </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"">Alexander set a new record in the 100-meter swimming with a timing of 52.94 seconds by improving his previous record of 52.96 seconds. He had made the previous record in the recently-held 11th NSA Cup Championship. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s team manager Naresh Baidya informed RSS that Dubana Lama and Alexander Shah are competing in 100-meter and 40-meter free style, respectively. </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18305', 'image' => '20230727110403_gaurika.jpg', 'article_date' => '2023-07-27 11:03:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18575', 'article_category_id' => '1', 'title' => 'IMF Revises Global Growth to 3 Percent in 2023', 'sub_title' => '', 'summary' => 'July 27: The International Monetary Fund (IMF) has revised its outlook for global growth for this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said on Tuesday.', 'content' => '<p><span style="font-size:18px">July 27: The International Monetary Fund (IMF) has revised its outlook for global growth for this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said on Tuesday.</span></p> <p><span style="font-size:18px">The growth forecast for this year was raised by 0.2 percentage points from the IMF's last estimate in April, putting the world economy on track for three percent growth in both 2023 and 2024.</span></p> <p><span style="font-size:18px">“While the forecast for 2023 is modestly higher than predicted in the April 2023 World Economic Outlook (WEO), it remains weak by historical standards. Global growth is projected to fall from an estimated 3.5 percent in 2022 to 3.0 percent in both 2023 and 2024,” IMF said in its World Economic Outlook update in July.</span></p> <p><span style="font-size:18px">According to the latest report, the rise in central bank policy rates to fight inflation continues to weigh on economic activities. Global headline inflation is expected to fall from 8.7 percent in 2022 to 6.8 percent in 2023 and 5.2 percent in 2024, added the report.</span></p> <p><span style="font-size:18px">“Underlying (core) inflation is projected to decline more gradually, and forecasts for inflation in 2024 have been revised upward.”</span></p> <p><span style="font-size:18px">The IMF said that the recent resolution of the US debt ceiling standoff and strong action by authorities to contain turbulence in US and Swiss banking reduced the immediate risks of financial sector turmoil.</span></p> <p><span style="font-size:18px">“This moderated adverse risks to the outlook. However, the balance of risks to global growth remains tilted to the downside. Inflation could remain high and even rise if further shocks occur, including those from an intensification of the war in Ukraine and extreme weather-related events, triggering more restrictive monetary policy,” states the report.</span></p> <p><span style="font-size:18px">According to the IMF, financial sector turbulence could resume as markets adjust to further policy tightening by central banks. On the upside, inflation could fall faster than expected, reducing the need for tight monetary policy, and domestic demand could again prove more resilient.</span></p> <p><span style="font-size:18px">In most economies, the priority remains achieving sustained disinflation while ensuring financial stability. Therefore, central banks should remain focused on restoring price stability and strengthen financial supervision and risk monitoring, added the report.</span></p> <p><span style="font-size:18px">“Should market strains materialize, countries should provide liquidity promptly while mitigating the possibility of moral hazard. They should also build fiscal buffers, with the composition of fiscal adjustment ensuring targeted support for the most vulnerable. Improvements to the supply side of the economy would facilitate fiscal consolidation and a smoother decline of inflation toward target levels.”</span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => 'IMF, growth, global, economy, inflation, Ukraine, war, lender, estimate, percentage', 'description' => '', 'sortorder' => '18304', 'image' => '20230727101422_20230726091211_20220426051733_imf.jpg', 'article_date' => '2023-07-27 10:13:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18574', 'article_category_id' => '1', 'title' => 'Gold Imports Witness 42% Decrease in FY 2022/2023; Prices Double in Five Years', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023, Nepal imported gold worth 22 billion 35 crore rupees. According to the statistics of the Department of Customs, in the fiscal year 2079/80, Nepal imported 29 lakh 16 thousand 586 grams of yellow metal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 27: In the fiscal year 2022/2023, Nepal imported gold worth 22 billion 35 crore rupees. According to the statistics of the Department of Customs, in the fiscal year 2079/80, Nepal imported 29 lakh 16 thousand 586 grams of yellow metal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gold import in the last fiscal year marks a 42% decrease from the previous fiscal year (2078/79) when Nepal imported gold worth 35 billion 50 lakh 53 thousand grams. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the decrease in gold imports, the government’s revenue collection has also decreased. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the previous fiscal year, revenue collection from gold imports amounted to 4 billion 29 crore rupees, while in the last fiscal year, it stood at Rs 2 billion 53 crore rupees.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal imported yellow metal from the United Arab Emirates (UAE), Switzerland, Turkey, and Uzbekistan in the last fiscal year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the review period, most of the gold was imported from the UAE. In the fiscal year, Nepal imported 24,66,546 grams of worth Rs 18 billion 91 crores from the UAE.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Nepal imported 3 lakh 50 thousand grams of gold from Turkey worth 2 billion 72 crore rupees, 1 lakh grams from Switzerland worth 70 crore 99 lakh rupees, and 40 grams from Uzbekistan worth 2 lakh 80 thousand rupees.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Manik Ratna Shakya, the President of Federation of Nepal Gold and Silver Dealers Association, attributed the decrease in gold imports to the quota system. "The government has imposed a daily quota of 10 kilograms on gold imports till now. Therefore, the imports have decreased," Shakya said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He added that due to the economic slowdown, the current supply has sustained the demand in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Gold prices have doubled in the last five years. In the month of Shrawan of 2075, gold was traded at Rs. 56,700 per tola.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">At present, the price of gold stands Rs. 1,12,700 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Association. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although there have been fluctuations in gold prices over five years, the price has remained above one lakh in recent months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The businessmen predict that the price of gold will continue to rise in the days to come. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18303', 'image' => '20230727061337_collage.jpg', 'article_date' => '2023-07-27 06:11:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18572', 'article_category_id' => '1', 'title' => 'UML Obstructs HoR Meeting, Demands Probe into Gold Scam ', 'sub_title' => '', 'summary' => 'July 26: The main opposition party, CPN (UML), on Wednesday obstructed the proceedings of the House of Representatives, demanding formation of a high-level committee to probe the recent gold scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: The main opposition party, CPN (UML), on Wednesday obstructed the proceedings of the House of Representatives, demanding formation of a high-level committee to probe the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Whip of the CPN (UML), Padam Giri, demanded parliamentary ruling in the name of the government for investigation into the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers of the CPN (UML) reached the 'rostrum' chanting slogans demanding action against gold smugglers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that all the agendas set for the house meeting were removed, Speaker Devraj Ghimire announced postponement of the meeting until July 31. </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 recent case of gold smuggling has taken centre stage in the political and social circle after more than 100 kilograms of gold was cleared by the customs officials of Tribhuvan International Airport last Wednesday. However, a team from the Department of Revenue Investigation seized the large quantity of gold from outside the airport with the help of a special tip off. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18301', 'image' => '20230726085859_20230713052749_parliament building.jpg', 'article_date' => '2023-07-26 20:58:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18571', 'article_category_id' => '1', 'title' => 'Kathmandu has the Highest Population Density in Nepal: National Census', 'sub_title' => '', 'summary' => 'July 26: Federal capital Kathmandu is the city having the largest population size and highest population density in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 26: Federal capital Kathmandu is the city having the largest population size and highest population density in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Census-2078 BS (2021) issued by the National Statistics Office, the population of Kathmandu has surpassed two million, reaching a total of 2,041,587 residents, whereas Manang has the lowest population with only 5,658 inhabitants.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report shows Nepal's overall population density is 198 per square kilometer. The previous National Census 2011 had put this figure at 180. The population density is significantly higher in the Terai region, where it is 460 people per square kilometer and in the mountainous regions it is just 34 per square kilometer.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While assessing the district-wise statistics, the population density in Kathmandu is 5,169 per square kilometer and in Manang it is just 3.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The segregated population data concerning Kathmandu shows that the number of males is 1,035,726 and the number of females is 1,005,861.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On average, there are 3.75 people per household in Kathmandu, and the age group of 20-24 years constitutes the highest proportion of the population, with 226,660 individuals falling into this category. The figure is 11.10 percent of the total population of Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the population of the 25 to 29 age group is 215,120, while the populace above 90 years of age is 980. A total of 542,892 families inhabit the district, of which 362,147 are headed by men, and 182,720 by women.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of married people stands at 1,788,062, of which 898,352 are married men, and 889,710 married women.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The figure of widows is 46,096 and widower 9,755 while the number of divorce cases stands at 4,182 (2,844 divorcee women and 1,338 divorcee men). A total of 197,347 people above five years of age are illiterate (52,952 male, and 144,395 female). A total of 283,862 people (149,806 male and 134,056 female) have received education up to primary level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, 10,275 families use firewood for cooking. Similarly, 526,931 families have been dependent on LPG, 4,694 on electricity, 561 on biogas, 157 on kerosene and 274 on other energy sources.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Five hundred and seventy-five families in Kathmandu do not have toilet facility at home while 1,305 families use public toilets. The National Census data shows that 852,555 people, including 349,274 men and 503,281 women belonging to the 10 years and above age group in Kathmandu are not connected to any economic activities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among those people who are not connected to any income-generating activity in the last one year, 376,954 are students, 198,630 are people involved in domestic work, 63,103 are elderly and 16,011 are physically handicapped.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statistics show that 512,427 people hold jobs, 32,318 have given employment to others, 282,552 people are running their business and 108,013 are assisting in their family businesses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of children below 18 years of age is 508,399 and of them, 402,174 live with both parents, 55,369 live only with their mother, 7,200 live only with their father, 877 live with their father and stepmother, 228 live with their mother and step father, 28,343 live with other relatives and 971 are looked after by employees.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There are 258,138 residential buildings, 24,476 buildings built for commercial and business purpose, 3,175 governmental buildings, 3,125 educational blocks, 667 health sector buildings, 3,892 industry sector blocks, 664 bank and financial sector-related buildings, 3,024 hotels and lodges and 4,276 store and warehouses in Kathmandu. -- RSS</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18300', 'image' => '20230726060105_Kathmandu-City-Of-Ruins.jpg', 'article_date' => '2023-07-26 18:00:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18570', 'article_category_id' => '1', 'title' => 'ICP yet to Operate Two Months after its Inauguration ', 'sub_title' => '', 'summary' => 'July 26: The integrated check post (ICP) along the Nepal-India border in Nepalgunj is yet to come into operation even one and a half months after its inauguration. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: The integrated check post (ICP) along the Nepal-India border in Nepalgunj is yet to come into operation even one and a half months after its inauguration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal and his Indian counterpart Narendra Modi had jointly inaugurated the ICP in Nepalgunj-Rupaidiya in June. They had inaugurated the check post remotely from Hyderabad House, the Office of the Indian Prime Minister during PM Dahal’s India visit. The ICP is expected to facilitate improved cross-border connectivity between Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Building Division Office in Nepalgunj, Bijay Keshar Khanal, said that the ICP has not been operational as the construction company is yet to hand over the building to the government. Likewise, the tasks of the physical works are still ongoing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the jobs of human resource management and security arrangement are likely to compete soon, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Khanal stated that it could take some two more months for the operation of the ICP in Nepalgunj. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18299', 'image' => '20230726044350_nepalgunj-check-point-2023.jpg', 'article_date' => '2023-07-26 16:43:06', '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' => '18585', 'article_category_id' => '1', 'title' => 'Banks have Loanable Funds of around Rs 400 Billion', 'sub_title' => '', 'summary' => 'July 28: The loanable funds of banks has reached almost Rs 400 billion. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 28: The loanable funds of banks has reached almost Rs 400 billion. The investible funds of banks has increased due to the inability of banks to increase credit expansion compared to deposit collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, deposits in banks and financial institutions have reached Rs 5621 billion as of Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, total credit flow of BFIs stands at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4850</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The credit-deposit ratio (CD ratio) of banks has remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">83.21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks are allowed to give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to this provision, commercial banks have the capacity to extend additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the last day of the last fiscal year, the CD ratio of banks had fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Accordingly, banks had the capacity to extend loans up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. However, the amount of bank deposits decreased after the facility of banks to calculate deposits from the local levels’ accumulated fund was removed. Deposits reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5767</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the last day of the last fiscal year and decreased by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the second day of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the lack of liquidity in banks and financial institutions, the government last year gave the facility to count up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the accumulated money of the local level as bank deposits. This facility has been reduced from the current year due to excess liquidity in the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the end of the facility given to the banks, the deposit has decreased, and the interbank interest rate has also remained high. The central bank informed that the interbank interest rate remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the last fiscal year, the interbank interest rate fell below </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. After the interbank interest rate fell below the target limit, the NRB tried to bring it within the limit by mopping excess liquidity through reverse repo and deposit collection tools but was unable to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, president of Nepal Bankers Association, an organization of chief executive officers of A class banks, says that the liquidity (investable amount) has been consistently high for the past few months because there has been no expansion of credit compared to the increase in deposits. He said that because there is no demand for loans in the market due to high interest rates, liquidity has accumulated in banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank, which issued a tight monetary policy last year, has adopted a strategy of reducing credit flow this year as well. It has been mentioned in the monetary policy that the private sector is burdened with more debt and this has also started increasing non-performing loans.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18315', 'image' => '20230728012659_bankkkkkkk.jpg', 'article_date' => '2023-07-28 13:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18586', 'article_category_id' => '1', 'title' => 'NFN calls for Declaring a Pandemic of Lumpy Skin Disease ', 'sub_title' => '', 'summary' => 'July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has also called for controlling the disease at the earliest, and providing compensation to the affected farmers. Or else a protest programme would be launched, the NFN warned at a press conference organised on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Various nine organisations working for the welfare of farmers are associated with the Network. On the occasion, the network’s coordinator Ganesh Chandra Timilsina, who is also the president of the Nepal Farmers Association, a wing of the Nepali Congress, said the lumpy skin disease has affected many farmers across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, chairperson of the All Nepal Peasants Federation, a wing of the CPN (UML), Dr Prem Dangal said over 50,000 domestic animals have died from the disease, resulting in the loss of around Rs 40 billion. Additional Rs 1 billion would be lost if the disease is not contained, he warned. </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 network has also demanded that the stalls at the Kalimati fruit and vegetable market be rented out through competitive bidding process. As part of its protest, NFN has launched a sit-in before the office of the Kalimati Fruits and Vegetable Market Development Committee. Likewise, the network demanded smooth supply of fertilisers and investigations into the delay in releasing the money under agriculture insurance. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18314', 'image' => '20230728020425_Lumpy-Skin-Disease.jpg', 'article_date' => '2023-07-28 14:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18584', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs File Writ Petition against VAT Imposed on Air Services', 'sub_title' => '', 'summary' => 'July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services.', '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 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services. The businessmen decided to move the court after the government turned a deaf ear to their demand that such tax should not be imposed considering the crisis this sector has been facing post Covid-19 pandemic.</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"">Nepal Association of Tour and Travel Agents (NATTA) on Thursday filed the petition demanding cancellation of VAT system on air services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had imposed VAT on air services through the budget announced for the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramesh Thapa, president of NATTA, said that the government did not respond to their request to amend the provision. According to him, NATTA decided to file the case as per the decision taken by the association’s former council members, NATTA’s incumbent members, legal professionals, tax consultants and NATTA board.</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"">NATTA stressed on the need for cooperation between the government and the private sector for sustainable development of the tourism industry and that they are ready for discussion and cooperation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18313', 'image' => '20230728125051_231385-nepal - Copy.jpg', 'article_date' => '2023-07-28 12:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18583', 'article_category_id' => '1', 'title' => 'Kristin and Tenjen Scale Mt K2, Setting World Record of Scaling 14 Peaks in Shortest Time', 'sub_title' => '', 'summary' => 'July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">K2, the second highest mountain in the world, is 8611 meters tall. Both of them successfully climbed the K2 at 10:45 am, according to the Seven Summit Treks Company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the successful climbing of the mountain, Kristin and Tenjen have scaled 14 mountains above 8,000 meters in three months, said Managing Director of the Company, Mingma Sherpa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, climber Nirmal Purja had scaled these 14 mountains in six months and six days in 2019. Kristin and Tenjen had set a target to climb 14 tallest mountains above 8,000 meters of the world within four months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin has also a record of becoming the first woman fastest climber scaling the 14 mountains above 8,000 meters of the world in one year and five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin and Tenjen have successfully climbed Mt Everest, Kanchanjangha, Lhotse, Makalu, Dhaulagiri, Manaslu, Cho Oyu, Shishapangma, Nanga Parbat, Gasherbrum-2, Gasherbrum-1, Broad Peak and Mt K2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18312', 'image' => '20230728121842_K2-Mountain.jpg', 'article_date' => '2023-07-28 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18582', 'article_category_id' => '1', 'title' => 'Record Grain Harvest Expected this Season Globally', 'sub_title' => 'India’s Ban of Rice Exports Likely to Trigger Price Hike Elsewhere', 'summary' => 'July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The International Grain Council (IGC), which includes both major producer and consumer nations, has forecast production of 2.3 billion tonnes of grains, which is slightly higher than the 2021-2022 season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that maize production continues to rise, with a 5.5 percent rise to 1.2 billion tonnes, thanks to more acreage in the United States and a record harvest expected in Brazil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IGC expects the production of rice, the top grain consumed by people, to rise by 2.5 percent to 527 million tones, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the wheat harvest is expected to come in at 784 million tonnes. That is stable in comparison to the last five years, but a reduction of 2.4 percent from last year when Russia and Australia had bumper harvests.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The pressure on wheat is due to the consumption forecast which is 20 million tonnes more than production," AAFP quoted Damien Vercambre, a trader at Inter-Courtage commodities brokerage, as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Demand for maize is even stronger, with consumption up by 30 million tonnes over the past year, but is covered by production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The increase is essentially for animal feed and is a sign of "the return of economic growth in Asia, where people eat more meat when their income permits," said Vercambre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest monthly report from the US Department of Agriculture, wheat stocks at major exporters are roughly 55 million tonnes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is a ten-year low and output hasn't risen much in the past three years, noted Sebastien Poncelet, a grain specialist at Agritel agricultural information service.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Added to this are concerns about how weather may affect output as well as geopolitical risks, with the grain deal which allowed Ukraine to export grain via the Black Sea having expired and Russia targeting the country's grain exporting infrastructure, including on the Danube, reported AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In Asia, analysts are keeping a close eye on the El Nino weather phenomenon, which is generally associated with a rise in global temperatures but for the moment is not expected to have a major impact on rice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The monsoons arrived normally, which allowed planting the crops in good conditions," Patricio Mendez del Villar, an economist who specialises in rice at CIRAD, a French governmental agency for agricultural research and international development, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But unexpectedly, India, the world's top rice exporter, banned exports of non-basmati white rice -- which accounts for around a quarter of its total.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The move risks triggering price increases elsewhere when world prices are already up 30 percent from last year and despite the fact that Thailand, Vietnam and Pakistan could compensate for the reduced Indian exports, said Mendez del Villar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One comforting element is that rice stocks are ample at 37 percent of annual consumption, compared to 25 percent during the 2008 crisis, when prices more than quadrupled in the space of a few months.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18311', 'image' => '20230727045325_paddyyy-transformed.jpeg', 'article_date' => '2023-07-27 16:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18580', 'article_category_id' => '1', 'title' => 'Competitive Price and Diplomatic Initiative a Must for Nepal to Export Electricity', 'sub_title' => '', 'summary' => 'July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. ', '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"">Madan Lamsal and Om Prakash Khanal</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"">July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. An agreement was also reached during Prime Minister Pushpa Kamal Dahal's visit to India. Similarly, by 2040, it is said that 9,000 megawatts of electricity will be sold to Bangladesh. Energy producers call it encouraging, but they see it as unlikely unless the country adopts a range of policy reforms and takes diplomatic initiatives.</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 Economic Survey 2080, the current installed capacity of electricity is 2,666 MW. At present, electricity is being imported during the dry season to meet the domestic demand of around 1700 megawatts. Ganesh Karki, president of the Independent Power Producers Association of Nepal (IPPAN), says that if the target of 10,000 megawatts of electricity generation is to be achieved in 10 years, serious homework should be started from today.</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"">IPPAN President Karki says that production is the primary condition for export. </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"">"In order to export hydropower to India, first of all, production has to be increased. There is a need for many policy reforms to increase production and consumption in the country,” he said. </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"">Electricity generators claim that the production of electricity will not be easy unless the procedural and policy problems seen in the construction of electricity development and distribution infrastructure are resolved.</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"">Karki's experience is that acquiring land for electricity development is the most difficult of all. Laws related to forests are against the development of electricity. Such laws and procedures should be suspended for at least 10 years. </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"">Kumar Pandey, an advisor to IPPAN, says that electricity export is not as easy as said. Pandey says that the main challenge is to produce electricity at a competitive price. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Nepal cannot export electricity unless the country has the capacity to provide electricity at a cheaper rate than India," said Pandey.</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 Pandey, Nepal produces electricity with the technology and equipment imported from India. Therefore, the price cannot be competitive unless the government gives concessions,, argues Pandey.</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"">Producers also say that billions of rupees need to be invested in transmission lines to export electricity to the market in India and Bangladesh. </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"">IPPAN President Karki suggests that there should be a clear policy arrangement to finance the investment of banks and external investors in production and transmission infrastructure. He claimed that only if the laws and procedures that are obstacles to electricity production are suspended for at least 10 years, the investment of the financial sector in this sector will increase.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Experts claimed that export will be possible only if Nepal produces electricity at competitive prices and there is continuous production of electricity. </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"">IPPAN's advisor Pandey argues that Nepal should put diplomatic efforts to India’s pre-condition to import electricity only if the investment is made by India.</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"">“This depends on Nepal's diplomatic and bargaining ability. We should be able to get India to agree to take products involving investors from countries other than Nepal and India," he said.</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"">Experts are of the opinion that India should also be positive in Nepal's electricity export to Bangladesh. Bangladesh has signed an agreement with Nepal to purchase 9,000 megawatts of electricity by 2040. A memorandum of understanding on cooperation in the energy sector between Nepal and Bangladesh has also been signed.</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"">Bangladesh is heavily dependent on gas (51 percent) to meet its demand for energy, while the country’s hydropower is dependent on imports. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The basis for exporting electricity to Bangladesh from Nepal has been created after the two countries signed an agreement for cooperation in the energy sector in 2018.</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"">However, analyst Jagdish Prasad Agarwal is of the opinion that unless India's role is positive, electricity cannot be directly exported to Bangladesh through Indian land from Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">It is doubtful that India will allow direct export of electricity to Bangladesh through its land in the current situation where India is trying to control electricity trade through various policy directives. </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"">“There may also be a situation where India buys from Nepal and exports to Bangladesh," says Agarwal.</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"">IPPAN President Karki also sees the potential of this option in exporting electricity to Bangladesh. </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"">“India cannot stop electricity export to Bangladesh. There are also issues of international pressure. Instead, India can buy electricity from Nepal and sell it to Bangladesh,” says Karki.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18309', 'image' => '20230727020947_electricity.jpg', 'article_date' => '2023-07-27 14:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18579', 'article_category_id' => '1', 'title' => 'KMC Requests Taxpayers to Pay Taxes within Deadline ', 'sub_title' => '', 'summary' => 'July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice, the Department of Revenue of the KMC requested to pay tax and get discount facility. The KMC has offered exemption in property tax, rental tax and business tax. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice reads that 10 per cent exemption has been offered on the tax amount of the current fiscal year if it is paid within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, additional 30 per cent discount would be offered in case of taxpayers who have been operating hotel, resort or movie theatre on their own land or on lease in the metropolitan city if they pay property tax with arrears by mid-January 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that property tax of the parking lot of a building constructed with the purpose of commercial parking of vehicles would be exempted for 10 years from the date of completion of the building construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is provision of 95 percent discount on business tax and registration fees of an industry or enterprise operated under the 'One Ward, One Model Industry' programme for three years since the registration of the industry or business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A 40 percent tax exemption has been provided for industries, businesses, companies, organisations registered in the name of women and people from the indigenous nationalities and Dalit communities, people with disabilities of whichever age group and youths below 35 years of age and the ones that have capital investment up to Rs 500,000, if they pay the tax within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a 25 percent tax exemption has been announced for regular tax-payers. However, individuals who are the permanent residents of Kathmandu Metropolitan City will get a 50 percent tax exemption on such tax if they pay the tax within the stipulated date. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18308', 'image' => '20230727013237_tax.jpg', 'article_date' => '2023-07-27 13:31:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18578', 'article_category_id' => '1', 'title' => 'Nepal Imported Fertilizers Worth Rs 113.90 Billion in Five Years', 'sub_title' => '', 'summary' => 'July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. ', '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 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, billions of rupees are spent every year to import fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, more than Rs 113.90 billion have been spent for importing fertilizer in the last five years. In the fiscal year (FY) 2022/23 alone, Nepal imported 426,007 metric tons of chemical fertilizers worth Rs 40.65 billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Agriculture, 88 percent of plantation has been completed across the country as of July 21. In the same period last year, 65 percent plantation was completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, plantation of paddy has been reduced by 12 percent this year compared to 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:"Arial","sans-serif"">According to the department, lack of chemical fertilizers was considered as the reason behind the delay in planting in the past but there is no shortage this time.</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"">This year, paddy plantation has been reduced mainly because of the delay in the onset of monsoon in Madhesh, Koshi and Bagmati provinces. </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"">Also, the outbreak of the lumpy skin disease in Karnali and Sudurpaschim provinces has also affected planting this year because the disease has affected cattle used for ploughing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, paddy plantation is expected to gradually increase when the monsoon becomes more active and the availability of chemical fertilizers is ensured. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Ministry of Agriculture, two state-owned companies – Agricultural Inputs Company Limited and Salt Trading Corporation – have imported 376,874 metric tons of chemical fertilizers as of July 16. Currently, these two companies have a stock of 64,413 metric tons of chemical fertilizers.</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"">These two companies sold 342,462 metric tons of chemical fertilizers in the last fiscal year (FY 2022/23). </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18307', 'image' => '20230727010535_1690421631.2023-07-27 07.17.16_11zon.jpg', 'article_date' => '2023-07-27 13:04:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18577', 'article_category_id' => '1', 'title' => 'Indian National Arrested in Nepal for Bank Robbery', 'sub_title' => '', 'summary' => 'July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The accused has been identified as Ajay Kumar Safi, 20, of Bihar. He was one of the members of a group that allegedly robbed NMB Bank’s branch in Mahottari Rural Municipality-2 on May 30 and made away with Rs 1.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was apprehended on Wednesday evening from the Nepal-India border at Matihani-8, confirmed Deputy Superintendent of Police Dilip Kumar Giri, the spokesperson for the District Police Office, Mahottari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A masked gang of four to five men who arrived at the bank on stolen motorcycles robbed the bank about two months ago by taking bank employees and customers hostage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the day of the crime took place, police had been searching for the gang with the help of technology as well as specialized agency of Nepal Police and cross-border coordination with the Indian police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, police have also identified the other accused in the crime and are intensely searching for them. Police hope that they will be arrested soon, said Inspector Prakash Malla. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18306', 'image' => '20230727122310_blank - Copy.jpg', 'article_date' => '2023-07-27 12:22:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18576', 'article_category_id' => '1', 'title' => 'Swimmer Gaurika Singh Sets New National Record in Japan', 'sub_title' => '', 'summary' => 'July 27: Nepal’s swimmer Gaurika Singh, who clinched multiple gold medals in the South Asian Games (SAG), has set a new national record in individual performance in the 20th edition of the World Aquatics Championship-2023 underway in Fukuoka, Japan. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: Nepal’s swimmer Gaurika Singh, who clinched multiple gold medals in the South Asian Games (SAG), has set a new national record in individual performance in the 20th edition of the World Aquatics Championship-2023 underway in Fukuoka, Japan. </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"">Chairperson of Nepal Swimming Association, Ashok Bajracharya informed RSS that Singh set a new national record by completing 50-meter backstroking in 31.44 seconds on Wednesday. With this, she broke her own record of 31.87 seconds in 50-meter backstroke category. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Singh has bettered on her previous record she had established in the 12th SAG held in India in 2016. </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"">Singh made her debut in the Rio Olympics 2016 at a tender age of 13 and was the youngest sportsperson at the sports jamboree. According to the official website of the International Olympics Committee, Singh had secured 31<sup>st</sup> position in the women’s 100 meters backstroke in the Rio Olympics. </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"">Only a few days ago, she had set another national record in women’s 100 meters backstroke with a timing of 1 minute 6.08 seconds in Japan.</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"">Likewise, another Nepali swimmer Alexander Shah also set a new national record by slightly improving his performance in 100-meter freestyle category of swimming. </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"">Alexander set a new record in the 100-meter swimming with a timing of 52.94 seconds by improving his previous record of 52.96 seconds. He had made the previous record in the recently-held 11th NSA Cup Championship. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s team manager Naresh Baidya informed RSS that Dubana Lama and Alexander Shah are competing in 100-meter and 40-meter free style, respectively. </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18305', 'image' => '20230727110403_gaurika.jpg', 'article_date' => '2023-07-27 11:03:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18575', 'article_category_id' => '1', 'title' => 'IMF Revises Global Growth to 3 Percent in 2023', 'sub_title' => '', 'summary' => 'July 27: The International Monetary Fund (IMF) has revised its outlook for global growth for this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said on Tuesday.', 'content' => '<p><span style="font-size:18px">July 27: The International Monetary Fund (IMF) has revised its outlook for global growth for this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said on Tuesday.</span></p> <p><span style="font-size:18px">The growth forecast for this year was raised by 0.2 percentage points from the IMF's last estimate in April, putting the world economy on track for three percent growth in both 2023 and 2024.</span></p> <p><span style="font-size:18px">“While the forecast for 2023 is modestly higher than predicted in the April 2023 World Economic Outlook (WEO), it remains weak by historical standards. Global growth is projected to fall from an estimated 3.5 percent in 2022 to 3.0 percent in both 2023 and 2024,” IMF said in its World Economic Outlook update in July.</span></p> <p><span style="font-size:18px">According to the latest report, the rise in central bank policy rates to fight inflation continues to weigh on economic activities. Global headline inflation is expected to fall from 8.7 percent in 2022 to 6.8 percent in 2023 and 5.2 percent in 2024, added the report.</span></p> <p><span style="font-size:18px">“Underlying (core) inflation is projected to decline more gradually, and forecasts for inflation in 2024 have been revised upward.”</span></p> <p><span style="font-size:18px">The IMF said that the recent resolution of the US debt ceiling standoff and strong action by authorities to contain turbulence in US and Swiss banking reduced the immediate risks of financial sector turmoil.</span></p> <p><span style="font-size:18px">“This moderated adverse risks to the outlook. However, the balance of risks to global growth remains tilted to the downside. Inflation could remain high and even rise if further shocks occur, including those from an intensification of the war in Ukraine and extreme weather-related events, triggering more restrictive monetary policy,” states the report.</span></p> <p><span style="font-size:18px">According to the IMF, financial sector turbulence could resume as markets adjust to further policy tightening by central banks. On the upside, inflation could fall faster than expected, reducing the need for tight monetary policy, and domestic demand could again prove more resilient.</span></p> <p><span style="font-size:18px">In most economies, the priority remains achieving sustained disinflation while ensuring financial stability. Therefore, central banks should remain focused on restoring price stability and strengthen financial supervision and risk monitoring, added the report.</span></p> <p><span style="font-size:18px">“Should market strains materialize, countries should provide liquidity promptly while mitigating the possibility of moral hazard. They should also build fiscal buffers, with the composition of fiscal adjustment ensuring targeted support for the most vulnerable. Improvements to the supply side of the economy would facilitate fiscal consolidation and a smoother decline of inflation toward target levels.”</span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => 'IMF, growth, global, economy, inflation, Ukraine, war, lender, estimate, percentage', 'description' => '', 'sortorder' => '18304', 'image' => '20230727101422_20230726091211_20220426051733_imf.jpg', 'article_date' => '2023-07-27 10:13:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18574', 'article_category_id' => '1', 'title' => 'Gold Imports Witness 42% Decrease in FY 2022/2023; Prices Double in Five Years', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023, Nepal imported gold worth 22 billion 35 crore rupees. According to the statistics of the Department of Customs, in the fiscal year 2079/80, Nepal imported 29 lakh 16 thousand 586 grams of yellow metal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 27: In the fiscal year 2022/2023, Nepal imported gold worth 22 billion 35 crore rupees. According to the statistics of the Department of Customs, in the fiscal year 2079/80, Nepal imported 29 lakh 16 thousand 586 grams of yellow metal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gold import in the last fiscal year marks a 42% decrease from the previous fiscal year (2078/79) when Nepal imported gold worth 35 billion 50 lakh 53 thousand grams. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the decrease in gold imports, the government’s revenue collection has also decreased. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the previous fiscal year, revenue collection from gold imports amounted to 4 billion 29 crore rupees, while in the last fiscal year, it stood at Rs 2 billion 53 crore rupees.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal imported yellow metal from the United Arab Emirates (UAE), Switzerland, Turkey, and Uzbekistan in the last fiscal year. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the review period, most of the gold was imported from the UAE. In the fiscal year, Nepal imported 24,66,546 grams of worth Rs 18 billion 91 crores from the UAE.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Nepal imported 3 lakh 50 thousand grams of gold from Turkey worth 2 billion 72 crore rupees, 1 lakh grams from Switzerland worth 70 crore 99 lakh rupees, and 40 grams from Uzbekistan worth 2 lakh 80 thousand rupees.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Manik Ratna Shakya, the President of Federation of Nepal Gold and Silver Dealers Association, attributed the decrease in gold imports to the quota system. "The government has imposed a daily quota of 10 kilograms on gold imports till now. Therefore, the imports have decreased," Shakya said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He added that due to the economic slowdown, the current supply has sustained the demand in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Gold prices have doubled in the last five years. In the month of Shrawan of 2075, gold was traded at Rs. 56,700 per tola.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">At present, the price of gold stands Rs. 1,12,700 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Association. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although there have been fluctuations in gold prices over five years, the price has remained above one lakh in recent months. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The businessmen predict that the price of gold will continue to rise in the days to come. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18303', 'image' => '20230727061337_collage.jpg', 'article_date' => '2023-07-27 06:11:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '18572', 'article_category_id' => '1', 'title' => 'UML Obstructs HoR Meeting, Demands Probe into Gold Scam ', 'sub_title' => '', 'summary' => 'July 26: The main opposition party, CPN (UML), on Wednesday obstructed the proceedings of the House of Representatives, demanding formation of a high-level committee to probe the recent gold scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: The main opposition party, CPN (UML), on Wednesday obstructed the proceedings of the House of Representatives, demanding formation of a high-level committee to probe the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Whip of the CPN (UML), Padam Giri, demanded parliamentary ruling in the name of the government for investigation into the recent gold scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers of the CPN (UML) reached the 'rostrum' chanting slogans demanding action against gold smugglers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that all the agendas set for the house meeting were removed, Speaker Devraj Ghimire announced postponement of the meeting until July 31. </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 recent case of gold smuggling has taken centre stage in the political and social circle after more than 100 kilograms of gold was cleared by the customs officials of Tribhuvan International Airport last Wednesday. However, a team from the Department of Revenue Investigation seized the large quantity of gold from outside the airport with the help of a special tip off. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18301', 'image' => '20230726085859_20230713052749_parliament building.jpg', 'article_date' => '2023-07-26 20:58:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18571', 'article_category_id' => '1', 'title' => 'Kathmandu has the Highest Population Density in Nepal: National Census', 'sub_title' => '', 'summary' => 'July 26: Federal capital Kathmandu is the city having the largest population size and highest population density in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 26: Federal capital Kathmandu is the city having the largest population size and highest population density in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Census-2078 BS (2021) issued by the National Statistics Office, the population of Kathmandu has surpassed two million, reaching a total of 2,041,587 residents, whereas Manang has the lowest population with only 5,658 inhabitants.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report shows Nepal's overall population density is 198 per square kilometer. The previous National Census 2011 had put this figure at 180. The population density is significantly higher in the Terai region, where it is 460 people per square kilometer and in the mountainous regions it is just 34 per square kilometer.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While assessing the district-wise statistics, the population density in Kathmandu is 5,169 per square kilometer and in Manang it is just 3.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The segregated population data concerning Kathmandu shows that the number of males is 1,035,726 and the number of females is 1,005,861.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On average, there are 3.75 people per household in Kathmandu, and the age group of 20-24 years constitutes the highest proportion of the population, with 226,660 individuals falling into this category. The figure is 11.10 percent of the total population of Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the population of the 25 to 29 age group is 215,120, while the populace above 90 years of age is 980. A total of 542,892 families inhabit the district, of which 362,147 are headed by men, and 182,720 by women.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of married people stands at 1,788,062, of which 898,352 are married men, and 889,710 married women.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The figure of widows is 46,096 and widower 9,755 while the number of divorce cases stands at 4,182 (2,844 divorcee women and 1,338 divorcee men). A total of 197,347 people above five years of age are illiterate (52,952 male, and 144,395 female). A total of 283,862 people (149,806 male and 134,056 female) have received education up to primary level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, 10,275 families use firewood for cooking. Similarly, 526,931 families have been dependent on LPG, 4,694 on electricity, 561 on biogas, 157 on kerosene and 274 on other energy sources.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Five hundred and seventy-five families in Kathmandu do not have toilet facility at home while 1,305 families use public toilets. The National Census data shows that 852,555 people, including 349,274 men and 503,281 women belonging to the 10 years and above age group in Kathmandu are not connected to any economic activities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among those people who are not connected to any income-generating activity in the last one year, 376,954 are students, 198,630 are people involved in domestic work, 63,103 are elderly and 16,011 are physically handicapped.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statistics show that 512,427 people hold jobs, 32,318 have given employment to others, 282,552 people are running their business and 108,013 are assisting in their family businesses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of children below 18 years of age is 508,399 and of them, 402,174 live with both parents, 55,369 live only with their mother, 7,200 live only with their father, 877 live with their father and stepmother, 228 live with their mother and step father, 28,343 live with other relatives and 971 are looked after by employees.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There are 258,138 residential buildings, 24,476 buildings built for commercial and business purpose, 3,175 governmental buildings, 3,125 educational blocks, 667 health sector buildings, 3,892 industry sector blocks, 664 bank and financial sector-related buildings, 3,024 hotels and lodges and 4,276 store and warehouses in Kathmandu. -- RSS</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18300', 'image' => '20230726060105_Kathmandu-City-Of-Ruins.jpg', 'article_date' => '2023-07-26 18:00:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18570', 'article_category_id' => '1', 'title' => 'ICP yet to Operate Two Months after its Inauguration ', 'sub_title' => '', 'summary' => 'July 26: The integrated check post (ICP) along the Nepal-India border in Nepalgunj is yet to come into operation even one and a half months after its inauguration. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: The integrated check post (ICP) along the Nepal-India border in Nepalgunj is yet to come into operation even one and a half months after its inauguration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal and his Indian counterpart Narendra Modi had jointly inaugurated the ICP in Nepalgunj-Rupaidiya in June. They had inaugurated the check post remotely from Hyderabad House, the Office of the Indian Prime Minister during PM Dahal’s India visit. The ICP is expected to facilitate improved cross-border connectivity between Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Building Division Office in Nepalgunj, Bijay Keshar Khanal, said that the ICP has not been operational as the construction company is yet to hand over the building to the government. Likewise, the tasks of the physical works are still ongoing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the jobs of human resource management and security arrangement are likely to compete soon, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Khanal stated that it could take some two more months for the operation of the ICP in Nepalgunj. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-26', 'modified' => '2023-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '18299', 'image' => '20230726044350_nepalgunj-check-point-2023.jpg', 'article_date' => '2023-07-26 16:43:06', '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
