A total of 419 individuals have lost their lives due to lightning strikes over the past five years. Similarly, properties worth over Rs 60 million have been destroyed, according to the National Disaster Risk Reduction and Management Authority…
A total of 419 individuals have lost their lives due to lightning strikes over the past five years. Similarly, properties worth over Rs 60 million have been destroyed, according to the National Disaster Risk Reduction and Management Authority…
Finance Minister Dr. Prakash Sharan Mahat said that the second phase of economic reforms begins in the country with the implementation of the forthcoming fiscal year's…
July 10: One hundred seventy eight people were killed in a total of 9,683 road accidents in the Kathmandu Valley (Kathmandu, Lalitpur and Bhaktapur districts) as of June 15, 2023 of the current fiscal year, 2022/23, according to the Kathmandu Valley Traffic Police…
July 10: An earthquake measuring 3.8 on the Richter scale with its epicentre at Bahrabise of Sindhupalchok district was recorded at 12.47pm on Monday, according to the National Earthquake Monitoring and Research Center,…
July 10: Coca-Cola Nepal, in collaboration with Atelier Platform Pvt Ltd, announced the successful implementation of the Young Women Entrepreneurs Accelerator and Mentorship…
July 10: The country’s Balance of Payments (BOP) remained at a surplus of Rs 228.98 billion in the first 11 months of the current fiscal year compared to a deficit of Rs 269.81 billion in the same period of the previous…
July 10: The year-on-year (y-o-y) consumer price inflation dropped to 6.83 percent in mid-June 2023 compared to 8.56 percent a year…
July 10: Nepal’s trade deficit decreased 15.2 percent to Rs 1337.39 billion during the eleven months of fiscal year 2022/23, according to the latest report of Nepal Rastra Bank (NRB).…
July 10: Nepal’s gross foreign exchange reserves increased 21.8 percent to Rs 1480.87 billion in mid-June 2023 from Rs 1215.80 billion in mid-July…
July 10: Nepal received remittance of Rs 1112.52 billion in the first eleven months of the current fiscal year, according to the latest report of Nepal Rastra Bank…
July 10: Finance Minister Dr Prakash Sharan Mahat has underlined the need of a liberal monetary policy for the acceleration of economic…
July 10: The Kathmandu Metropolitan City (KMC) has fined an eatery for selling sub-standard food…
July 9: The provinces have spent only half of their budget till June 15 of the current Fiscal Year 2022/23.…
July 9: Government officials have said that the role of women entrepreneurs is important to keep the country's economy…
July 9: India has been buying large quantities of crude oil from Russian ever since Russia’s invasion of Ukraine in February last…
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Similarly, properties worth over Rs 60 million have been destroyed, according to the National Disaster Risk Reduction and Management Authority (NDRRMA).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 11: A total of 419 individuals have lost their lives due to lightning strikes over the past five years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, properties worth over Rs 60 million have been destroyed, according to the National Disaster Risk Reduction and Management Authority (NDRRMA).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the provinces, Koshi Province recorded the highest number of fatalities, with 108 deaths caused by lightning strikes. Lumbini Province follows closely with 76 deaths, while Madhes Province witnessed 69 deaths. Bagmati Province reported 62 fatalities, Sudurpaschim Province had 43, Gandaki Province had 36, and Karnali Province experienced 25 deaths.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Three thousand one hundred and eighty seven domestic animals were killed in the disaster, and 57 physical infrastructures have been damaged, according to NDRRMA. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18152', 'image' => '20230711062447_collage (7).jpg', 'article_date' => '2023-07-11 06:22:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18421', 'article_category_id' => '1', 'title' => 'Second Phase of Economic Reforms Commences, Says Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat said that the second phase of economic reforms begins in the country with the implementation of the forthcoming fiscal year's budget.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> July 11: Finance Minister Dr. Prakash Sharan Mahat said that the second phase of economic reforms begins in the country with the implementation of the forthcoming fiscal year's budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Speaking to the media in Kathmandu on Monday, Minister Mahat expressed optimism about the nation's economic improvement and emphasized that the budget for the fiscal year 2023/24, along with accompanying plans and programs, will usher in positive momentum for the economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">"The new budget is designed to steer the economy back on track, marking the beginning of the second phase of reforms. We must accelerate these reform efforts," Dr. Mahat stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The initial stage of economic reforms was initiated in the early 1980s with the introduction of economic liberalization and an open market in the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Additionally, the Finance Minister highlighted positive signs in the economy, such as an increase in foreign exchange reserves and advancements in the tourism industry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">He further anticipated a potential reduction in bank interest rates, citing the upcoming monetary policy to be issued by the Nepal Rastra Bank for the upcoming fiscal year. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18151', 'image' => '20230711060454_collage (6).jpg', 'article_date' => '2023-07-11 06:03:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18418', 'article_category_id' => '1', 'title' => '178 People Killed in Road Accidents in Kathmandu Valley in 11 Months ', 'sub_title' => '', 'summary' => 'July 10: One hundred seventy eight people were killed in a total of 9,683 road accidents in the Kathmandu Valley (Kathmandu, Lalitpur and Bhaktapur districts) as of June 15, 2023 of the current fiscal year, 2022/23, according to the Kathmandu Valley Traffic Police Office. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: One hundred seventy eight people were killed in a total of 9,683 road accidents in the Kathmandu Valley (Kathmandu, Lalitpur and Bhaktapur districts) as of June 15, 2023 of the current fiscal year, 2022/23, according to the Kathmandu Valley Traffic Police Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 242 people were seriously injured, and 7,363 sustained minor injuries in those accidents in the valley. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ninety three of them died in motorcycle and scooter accidents while 56 victims were pedestrians. More than half of the deceased (35 men and 43 women) were of the 17-35 age group. Negligence of the drivers, over speeding, drink-driving, overtaking, bad weather and other technical problems have been blamed for the accidents. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18149', 'image' => '20230710093218_20220927120743_Kathmandu Valley.jpg', 'article_date' => '2023-07-10 21:31:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18420', 'article_category_id' => '1', 'title' => 'Earthquake jolts Sindhupalchok ', 'sub_title' => '', 'summary' => 'July 10: An earthquake measuring 3.8 on the Richter scale with its epicentre at Bahrabise of Sindhupalchok district was recorded at 12.47pm on Monday, according to the National Earthquake Monitoring and Research Center, Lainchaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: An earthquake measuring 3.8 on the Richter scale with its epicentre at Bahrabise of Sindhupalchok district was recorded at 12.47pm on Monday, according to the National Earthquake Monitoring and Research Center, Lainchaur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, an earthquake with magnitude 4 on the Richter scale with its epicentre near Bhalayakharka of Lamjung was recorded on June 23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earthquake tremors epicentred in places of the mountainous and hill regions of eastern and western parts of the country have become recurrent of late. The mountainous and hill region of Nepal is considered vulnerable to earthquakes. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18148', 'image' => '20230710094324_20221228113133_quake.jpg', 'article_date' => '2023-07-10 21:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18417', 'article_category_id' => '1', 'title' => 'Coca-Cola Empowers Young Women Entrepreneurs through Saksham Accelerator and Mentorship Program', 'sub_title' => '', 'summary' => 'July 10: Coca-Cola Nepal, in collaboration with Atelier Platform Pvt Ltd, announced the successful implementation of the Young Women Entrepreneurs Accelerator and Mentorship Program.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Coca-Cola Nepal, in collaboration with Atelier Platform Pvt Ltd, announced the successful implementation of the Young Women Entrepreneurs Accelerator and Mentorship Program.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent press statement, international soft drink brand said this program is a pivotal component of Coca-Cola Nepal's Women Empowerment Program, Saksham, and aims to provide comprehensive support and guidance to women startups and potential start-ups in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Coca-Cola, the Young Women Entrepreneurs Accelerator and Mentorship Program received an overwhelming response from enthusiastic women entrepreneurs from across Kathmandu, Pokhara, and Chitwan when the applications were opened in April 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Out of the impressive pool of applicants, eight exceptional finalists were carefully selected based on their innovative ideas and potential for success, adds the statements. The finalists were Brinda Dewan of Kehikrafts, Menuka Gurung of Duluwa Outdoors, Prakriti Basyal of South and Southeast Project, Rashi Maharjan of Learners Room: A path to wisdom, Rozina Baral of Search It, Sarala Maharjan of Bio-Enzymes, Shanti Rai of Greenspace Nepal and Yaju Maharjan of Swachha Mahinawari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To kick start the program, an orientation session was held on June 11, 2023, providing the finalists with valuable insights into the journey ahead, according to the company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Since then, a series of expert sessions have been organized to equip the participants with the necessary skills and knowledge to thrive in their entrepreneurial endeavors,” reads the statement, adding, “The finalists have had the privilege of attending sessions led by esteemed professionals and mentors, covering essential topics such as gender and women's rights, feminism and leadership, legal processes, climate change, marketing strategy, access to finance and banking, digital marketing, profitable presentation techniques, and design thinking.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Adarsh Avasthi, country director of Nepal for Coca Cola said that the program underscores the company’s unwavering dedication to fostering gender equality and empowering women in Nepal's dynamic entrepreneurial landscape.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“By offering comprehensive support and guidance to these aspiring young women entrepreneurs, we aim to create a sustainable ecosystem that not only propels their success but also contributes significantly to the overall development of Nepal's economy," the statement quoted Avasthi as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement added that the finalists have had the unique opportunity to engage with and learn from successful women entrepreneurs in Nepal throughout the program.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Esteemed guest speakers, including Prasanna Basnet (co-founder of Cotton Mill Nepal), Haushala Thapa Gurung (Haushala Creatives), Dr Manu Karki (Eco Sathi Nepal), and Sujata Shrestha (Ghaghar and M&S) shared their inspiring stories and insights, further motivating and empowering the young women on their entrepreneurial journeys.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Madhurima Bhadra, a gender, leadership and public health expert, says that there are limited opportunities for marginalized people, especially non-binary persons and sex workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I am so excited to be watching these young women already thinking about this special group of people and planning to provide opportunities for them in an all-inclusive environment," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement released by Coca-Cola, the finalists are now in the final stages of preparation for their ultimate pitch after weeks of intensive training and mentorship.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Their innovative ideas and business plans will be presented before a distinguished jury comprising three accomplished professionals in August, added the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, the top three participants will be awarded a cash prize of Rs 100,000 each, providing them with a significant boost to accelerate their ventures and to reach closer to their goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We are incredibly excited to witness the remarkable progress and determined enthusiasm displayed by the participants of the Young Women Entrepreneurs Accelerator and Mentorship Program. Our commitment to empowering women in Nepal drives us to continue training an additional 1000+ women through this program this year. Saksham, reinforces our belief in the potential and resilience of Nepalese women, and we look forward to accelerating more women’s entrepreneurial journey," says Deepak Senthil Nath, managing director of Bottlers Nepal that produces Coca-Cola in the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18147', 'image' => '20230710062915_Group Photo - Copy.jpg', 'article_date' => '2023-07-10 18:28:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18416', 'article_category_id' => '1', 'title' => 'Balance of Payments at a Surplus of Rs 228 Billion', 'sub_title' => '', 'summary' => 'July 10: The country’s Balance of Payments (BOP) remained at a surplus of Rs 228.98 billion in the first 11 months of the current fiscal year compared to a deficit of Rs 269.81 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px">July 10: The country’s Balance of Payments (BOP) remained at a surplus of Rs 228.98 billion in the first 11 months of the current fiscal year compared to a deficit of Rs 269.81 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">According to the Current Macroeconomic and Financial Situation Report published by the Nepal Rastra Bank on Monday, the BOP in terms of the US dollar remained at a surplus of 1.74 billion in the review period against a deficit of 2.26 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">Likewise, the current account remained at a deficit of Rs 69.40 billion in the review period compared to a deficit of Rs 592.14 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px"> In the US dollar terms, the current account registered a deficit of 536.1 million compared to a deficit of 4.93 billion in the same period last year.</span></p> <p><span style="font-size:18px">In the review period, capital transfer decreased 22.5 percent to Rs 7.35 billion and net foreign direct investment (FDI) recorded Rs 4.65 billion. In the same period of the previous year, capital transfer and net FDI amounted to Rs 9.49 billion and Rs 17.35 billion respectively.</span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18146', 'image' => '20230710061516_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-10 18:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18414', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Drops to 6.83 Percent: NRB Report', 'sub_title' => '', 'summary' => 'July 10: The year-on-year (y-o-y) consumer price inflation dropped to 6.83 percent in mid-June 2023 compared to 8.56 percent a year ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: The year-on-year (y-o-y) consumer price inflation dropped to 6.83 percent in mid-June 2023 compared to 8.56 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), the food and beverage inflation stood at 5.66 percent whereas non-food and service inflation rose to 7.76 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 35.29 percent, restaurant and hotel 14.36 percent, cereal grains and their products 13.06 percent, milk products and eggs 10.98 percent and tobacco products 8.49 percent while the y-o-y price index of ghee and oil sub-category decreased 16.60 percent, states the Current Macroeconomic and Financial Situation Report of the first 11 months of the current fiscal year published by NRB on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, the y-o-y price index of recreation and culture sub-category increased 15.75 percent, education 10.56 percent, miscellaneous goods and services 9.33 percent, housing and utilities 8.41 percent and furnishing and household equipment 7.83 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, consumer price inflation in the Kathmandu Valley, Terai, hill and mountain areas surged to 7.19 percent, 6.93 percent, 6.28 percent and 6.39 percent respectively. Inflation in these regions were 8.32 percent, 8.29 percent, 9.28 percent and 8.92 percent respectively a year ago, added the report.</span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18144', 'image' => '20230710030747_Inflation1.jpg', 'article_date' => '2023-07-10 15:07:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18413', 'article_category_id' => '1', 'title' => 'Trade Deficit Declines by 15 Percent', 'sub_title' => '', 'summary' => 'July 10: Nepal’s trade deficit decreased 15.2 percent to Rs 1337.39 billion during the eleven months of fiscal year 2022/23, according to the latest report of Nepal Rastra Bank (NRB). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Nepal’s trade deficit decreased 15.2 percent to Rs 1337.39 billion during the eleven months of fiscal year 2022/23, according to the latest report of Nepal Rastra Bank (NRB). Such a deficit had increased 25 percent in the corresponding period of the previous year, states the Current Macroeconomic and Financial Situation Report published by NRB on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio decreased to 9.7 percent in the review period from 10.5 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, merchandise imports from India by paying convertible foreign currency amounted Rs 138.47 billion. Such amount was Rs 200.88 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, the overall merchandise exports decreased 22.7 percent to Rs 143.59 billion against an increase of 53.3 percent in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India decreased 32.2 percent whereas exports to China and other countries increased 106.7 percent and 9.9 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Exports of zinc sheet, particle board, cardamom, woolen carpets, readymade garments, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, merchandise imports decreased by 16 percent to Rs 1480.98 billion against an increase of 27.5 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries decreased 14.8 percent, 17.1 percent and 18.5 percent respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of chemical fertilizer, sponge iron, gold, paper, other stationeries, among others, increased whereas imports of transport equipment and parts, MS billet, medicine, crude soybean oil, other machinery and parts, among others, decreased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18143', 'image' => '20230710030630_Trade.jpg', 'article_date' => '2023-07-10 15:05:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18412', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Exchange Reserves Increases to Rs 1480 Billion', 'sub_title' => 'Foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 11.2 months', 'summary' => 'July 10: Nepal’s gross foreign exchange reserves increased 21.8 percent to Rs 1480.87 billion in mid-June 2023 from Rs 1215.80 billion in mid-July 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Nepal’s gross foreign exchange reserves increased 21.8 percent to Rs 1480.87 billion in mid-June 2023 from Rs 1215.80 billion in mid-July 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Current Macroeconomic and Financial Situation Report published by the Nepal Rastra Bank on Monday, the gross foreign exchange reserves in terms of the US dollar increased 18.5 percent to 11.30 billion in mid-June 2023 from 9.54 billion in mid-July 2022. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB increased 25.1 percent to Rs 1321.25 billion in mid-June 2023 from Rs 1056.39 billion in mid-July 2022, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank, the reserves held by banks and financial institutions (except NRB) increased 0.1 percent to Rs 159.63 billion in mid-June 2023 from Rs 159.41 billion in mid-July 2022. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The share of Indian currency in total reserves stood at 22.9 percent in mid-June 2023. Foreign </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the imports of eleven months of 2022/23, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 11.2 months and merchandise and services imports of 9.6 months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB report states that the ratio of reserves-to-GDP, reserves-to-imports and reserves-to-M2 stood at 27.5 percent, 80.3 percent and 25.0 percent respectively in mid-June 2023. Such ratios were 24.6 percent, 57.8 percent and 22.1 percent respectively in mid-July 2022.</span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18142', 'image' => '20230710020950_dollar.jpg', 'article_date' => '2023-07-10 14:09:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18411', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases by 22.7 Percent in Current Fiscal ', 'sub_title' => '', 'summary' => 'July 10: Nepal received remittance of Rs 1112.52 billion in the first eleven months of the current fiscal year, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: Nepal received remittance of Rs 1112.52 billion in the first eleven months of the current fiscal year, according to the latest report of Nepal Rastra Bank (NRB).</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"">Unveiling the Current Macroeconomic and Financial Situation Report based on the eleven months of the fiscal year 2022/23, the central bank said inflow of remittance increased by 22.7 percent to reach Rs 1112.52 billion in the review period compared to an increase of 4.1 percent in the same period of the previous year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the US dollar terms, remittance inflows increased 13.0 percent to 8.51 billion in the review period compared to an increase of 1.8 percent in the same period of the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the number of Nepali workers (institutional and individual) obtaining approval for foreign employment increased by 46.6 percent and reached 459,415 in the review period. The number of Nepali workers (renew entry) taking approval for foreign employment increased 0.5 percent to 260,262 in the review period. It had increased 208.3 percent in the same period of the previous year, the report stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the NRB report, net transfer increased by 21.9 percent to reach Rs 1229.82 billion during this period. Such a transfer had increased 3.8 percent in the same period of the previous year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18141', 'image' => '20230710012519_Remittance.jpg', 'article_date' => '2023-07-10 13:24:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18410', 'article_category_id' => '1', 'title' => 'Liberal Policy Vital for Economic Vibrancy: Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'July 10: Finance Minister Dr Prakash Sharan Mahat has underlined the need of a liberal monetary policy for the acceleration of economic activities. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: Finance Minister Dr Prakash Sharan Mahat has underlined the need of a liberal monetary policy for the acceleration of economic activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a discussion on "Nepal's economic situation and upcoming monetary policy," the finance minister said the economy would be vibrant if the issue of policy rate was addressed while formulating the monetary policy for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A liberal policy is capable of making the economy vibrant, according to the finance minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He took time to insist on the collaboration between the Finance Ministry and the Nepal Rastra Bank to promote the nation's economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Mahat said that the government wished the NRB to function independently and make efforts for the improvement of overall economy. </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"">“There should be coherence between the finance policy and monetary policy to operate the economy effectively,” he said.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the government's fiscal policy emphasized on improving the economy. </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"">"At the moment, capital flow is limited due to high cost, preventing the economy to catch its vibrancy. The government prioritizes fiscal discipline," he said adding that it had controlled the unnecessary budget transfer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> According to him, the government has set a target of achieving six percent economic growth in the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Economist Dr Dilliraj Khanal shared his view saying that the problem in the banking and financial sector would result in problems in the entire economy. "Although the economy is on the path to improvement, it is still in crisis. The liquidity has increased at present. However, the loans have not expanded," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the government brought an extension-oriented monetary policy for the post-Covid recovery, he said that was required but it could not produce the expected output later on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Economist Khanal said problems like investment in the unproductive sectors, limited big business houses using a large chunk of loans on concessional basis, cooperatives becoming problematic, among others are seen in the financial sector and these needed to be addressed. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18140', 'image' => '20230710121340_20230514062755_collage (17).jpg', 'article_date' => '2023-07-10 12:13:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18409', 'article_category_id' => '1', 'title' => 'KMC Fines Eatery for Selling Sub-Standard Food ', 'sub_title' => '', 'summary' => 'July 10: The Kathmandu Metropolitan City (KMC) has fined an eatery for selling sub-standard food products. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: The Kathmandu Metropolitan City (KMC) has fined an eatery for selling sub-standard food products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Akash Foods, a shop in Lazimpat in the city, was fined Rs 150,000 for selling rotten sweets, said Monitoring Officer of KMC Balram Tripathi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Tripathi, the owner of the sweets house, Ankur Agrawal, has been directed to pay the penalty amount at the bank account of KMC within a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the wrongdoer would be fined additional amount if he failed to deposit the penalty amount in the given timeline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the KMC fined an individual from KMC-6 in Bauddha for mixing the septic tank into the drainage system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC said that Gokul Bahadur Budhathoki was slapped Rs 50,000 in fine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the recent time, the KMC has upped its monitoring job to keep the city and its heritages neat and clean. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18139', 'image' => '20230710111858_KMC.jpg', 'article_date' => '2023-07-10 11:18:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18408', 'article_category_id' => '1', 'title' => 'Provinces Fare Worse in Budget Expenditure, Spend only 49 Percent of Total Budget in Current FY', 'sub_title' => '', 'summary' => 'July 9: The provinces have spent only half of their budget till June 15 of the current Fiscal Year 2022/23. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 9: The provinces have spent only half of their budget till June 15 of the current Fiscal Year 2022/23. Of the total budget of Rs 306 billion that the provinces passed for the current fiscal year, they have spent only Rs 151.3 billion as of June 15, which accounts for 49.45 percent of the total annual allocations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As per the data on budget expenditure by provinces shared by the Office of the Comptroller General, Koshi Province's expenditure is the highest (61.41 percent) and the Madhes Province's is the lowest (36.25 percent) in the first 11 months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">During the review period, Bagmati Province's budget expenditure stood at 50.62 percent, Gandaki Province's at 48.19 percent, Lumbini Province's at 55.54 percent, Karnali Province's at 45.60 percent and Sudurpaschim Province's at 48.54 percent. The average expenditure towards the recurrent expenditure was 55.68 percent and 46.11 percent towards capital expenditure during this period.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Koshi Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Koshi Province had brought a total budget of Rs 39.91 billion for the current fiscal year and its expenditure till June 15 was Rs 24.51 billion. This province spent Rs 11.65 (70 percent) out of the total allocation of Rs 16.62 billion towards current expenditure and Rs 12.86 billion ( 55 percent) out of the total allocations of Rs 23.29 billion towards capital expenditure.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Madhesh Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The budget expenditure of Madhesh Province was the lowest as compared to the rest of the provinces. The province had brought a budget of Rs 46.98 billion for the current fiscal year and it spent only Rs 17 billion until June 15. The budget expenditure was 36.25 percent of the total annual budget allocations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Madhesh Province spent 33 percent for recurrent expenses and 38.34 percent under the heading of capital expenditure in the first 11 months of the current fiscal year. Out of the Rs 20.8 billion set aside for recurrent expenditure, the province spent Rs 6 billion 996 million 700 thousand. Similarly, out of the Rs 26.18 billion allocated for capital expenditure, the province spent Rs 10 billion or 38 percent of the allocation.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province had brought a budget of Rs 70 billion 939 million 200 thousand for the current fiscal year and it spent Rs 35.91 billion or 50.62 percent of the total budget till June 15. The budget expenditure of this province under the current expenditure heading was 61.61 percent while it was 46 percent under capital expenditure heading and 30 percent under fiscal management heading during this period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The province had allocated Rs 26.84 billion for current expenditure and it spent Rs 16.53 billion. Similarly, out of the Rs 42 billion 90 million allocated for capital expenditure, it spent Rs 19.37 billion. Rs 2 billion was allocated for fiscal management and the expenditure under this heading was Rs 600 million.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Gandaki Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of over Rs 35.9 billion set aside for the province in the current FY, Rs 17.3 billion has been spent as of June 15 which is 48 percent of the allocated budget. Under current expenditures, Rs 6.9 billion (54 percent) of over Rs 12.8 billion set aside has been spent, and under capital expenditures, Rs 10.3 billion (45.82 percent) of more than Rs 22.5 billion allocated.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Lumbini Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The province spent Rs 23.7 billion of the total Rs 42.7 billion allocated for the province. The figure was 55.54 percent. Under current expenditures, it spent Rs 10.9 billion (61.20 percent) of Rs 17.9 billion allocated, and under capital expenditure, it spent Rs 12.7 billion (51.45 percent) of Rs 24.7 billion allocated.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Karnali Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of Rs 32.7 billion allocated for the province, Rs 14.9 billion (45.60 percent) has been spent. Under current expenditures, Rs 7.1 billion (53.64 percent) of Rs 13.8 billion set aside has been spent, and under capital expenditures, Rs 7.9 billion (40.25 percent) of Rs 19.6 billion spent.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Sudurpaschim Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of Rs 36.7 billion allocated for the province, Rs 17.8 billion (48.54 percent) has been spent. Under current expenditures, Rs 6.7 billion (55.32 percent) of Rs 12.2 billion allocated has been spent, and under capital expenditures, Rs 11.7 billion (45.71 percent) of Rs 24.2 billion set aside has been spent. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18138', 'image' => '20230709093914_20230628120055_1683767264.jpg', 'article_date' => '2023-07-09 21:37:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18407', 'article_category_id' => '1', 'title' => 'Women Entrepreneurs Play a Key Role in Driving the Economy: Stakeholders', 'sub_title' => '', 'summary' => 'July 9: Government officials have said that the role of women entrepreneurs is important to keep the country's economy afloat.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 9: Government officials have said that the role of women entrepreneurs is important to keep the country's economy afloat. Speaking at the 'Standard Chartered NewBiz Business Women Summit and Awards 2023' organized by New Business Age in Kathmandu on Friday, Finance Minister Dr Prakash Sharan Mahat said that women who have been handling the economy of the house are now going to be in a position of running the economy of the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He emphasized that women should take the lead in the future to stabilize the enterprises. According to Minister Mahat, there is no capital limit in the information technology sector and women can take advantage of this as there is a provision for starting a company at Rs 100. He said that the work done by women is important.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He also thanked the organizers for representing women engaged in various fields of enterprise. Women's empowerment has also been given priority in the budget and the government has announced to create a women's industrial village for the first time in Panchkhaal, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at the same event, Nepal Rastra Bank’s Governor Maha Prasad Adhikari said that the number of women entrepreneurs will increase encouragingly due to subsidized loans. He reminded that there is a program to give collateral-free loans of up to Rs 1.5 million to women for doing business and further added, “Three years ago, only 25,000 people took this loan. Now, more than 83,000 have taken loans of Rs 61 billion.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Governor Adhikari said that women entrepreneurs will play a major role in reducing the trade imbalance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"There is a good demand in the market for the products of women entrepreneurs," said Adhikari, "They can play a role in import substitution and export promotion by increasing production." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Citing the example of women in the leadership of large companies such as Daraz and Goldstar, he said that the participation of women in the modernization and innovation of Nepal is also great.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Adhikari informed that gender inclusion is increasing in the financial sector and for that, the NRB is conducting financial literacy programs. He also said that initiatives are being taken through the Ministry of Education to include the subject of financial literacy in the school curriculum. According to the governor, 49 per cent of men and 48 per cent of women have accounts in banks and financial institutions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that enterprise is important to advance the country's economy, Governor Adhikari said that in 2022, the gender imbalance has improved by 4 per cent worldwide. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“Gender imbalance should be gradually reduced in Nepal as well. We are doing it," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Anirwan Ghosh Dastidar, Chief Executive Officer (CEO) of Standard Chartered Bank Nepal Limited, said that modern Nepali women are a source of power.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Saying that his bank aims to support the youth and small businesses in the community, he said that he is happy to see that women are active in bringing about meaningful changes in the professional system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Modern Nepalese women are powerhouses, who are leaving their mark in all fields of politics, fashion, business, science, sports, art, " CEO Dastidar said adding, "What we believe in at Standard Chartered is to support the youth and small businesses in our community. It is an important step towards increasing participation in our market and promoting financial inclusion, which will bring meaningful change.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He also said that he was very proud to meet so many talented women entrepreneurs working to bring meaningful changes in the business system together under one roof.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sabita Subedi, director of New Business Age Pvt. Ltd., said at the event that the main objective of the awards is to encourage women entrepreneurs. Subedi said that the state must create a favourable environment for women entrepreneurs to increase their contribution to the country's economy.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18137', 'image' => '20230709041956_role.jpg', 'article_date' => '2023-07-09 16:19:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18406', 'article_category_id' => '1', 'title' => 'Discount on Russian Oil to India Shrinks from US$ 30 Per Barrel to US$ 4', 'sub_title' => '', 'summary' => 'July 9: India has been buying large quantities of crude oil from Russian ever since Russia’s invasion of Ukraine in February last year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Agencies</span></span></span></span></p> <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 9: India has been buying large quantities of crude oil from Russian ever since Russia’s invasion of Ukraine in February last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The concession on oil given to India by Russia has been reduced significantly at present. </span></span></span></span></p> <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"">Russia has been selling crude oil to India for less than $60 per barrel. This is lower than the price limit set by Western countries for Russian oil. But when bringing oil from the Baltic to India via the Black Sea, the delivery charge per barrel ranges from $11 to $19. Sources say that this is double the normal rate.</span></span></span></span></p> <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"">After Russia attacked Ukraine on February 24, 2022, European buyers and some buyers in Asia, including Japan, banned Russian oil. Russia then started selling oil to India and China at a massive discount. </span></span></span></span></p> <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"">Until the middle of last year, Russia used to give a discount of $30 per barrel to India. But recently it has been reduced to US$ 4 per barrel, according to sources.</span></span></span></span></p> <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"">Currently, India is the largest buyer of Russian oil. Due to increasing electrification of vehicles and economic slowdown, the demand for Russian crude oil in China has reached its peak and started to decrease. Before the Ukrainian war, the proportion of Russian oil in India's total crude oil imports was less than 2 percent. But recently, the share of Russian oil has increased to 44 percent.</span></span></span></span></p> <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 also said that the discount is shrinking because Indian oil companies are negotiating separately with Russian companies. Sources say that the discount could have been much higher if the state-owned oil companies had bargained collectively.</span></span></span></span></p> <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 is buying 2 million barrels of oil per day from Russia. Sixty percent of this oil is bought by government oil companies. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18136', 'image' => '20230709035706_gbo-india-likely-to-buy-russian-oil.jpg', 'article_date' => '2023-07-09 15:56:28', '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' => '18422', 'article_category_id' => '1', 'title' => '419 People Lose Lives to Lightning Strikes in Five Years', 'sub_title' => '', 'summary' => 'A total of 419 individuals have lost their lives due to lightning strikes over the past five years. Similarly, properties worth over Rs 60 million have been destroyed, according to the National Disaster Risk Reduction and Management Authority (NDRRMA).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 11: A total of 419 individuals have lost their lives due to lightning strikes over the past five years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, properties worth over Rs 60 million have been destroyed, according to the National Disaster Risk Reduction and Management Authority (NDRRMA).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the provinces, Koshi Province recorded the highest number of fatalities, with 108 deaths caused by lightning strikes. Lumbini Province follows closely with 76 deaths, while Madhes Province witnessed 69 deaths. Bagmati Province reported 62 fatalities, Sudurpaschim Province had 43, Gandaki Province had 36, and Karnali Province experienced 25 deaths.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Three thousand one hundred and eighty seven domestic animals were killed in the disaster, and 57 physical infrastructures have been damaged, according to NDRRMA. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18152', 'image' => '20230711062447_collage (7).jpg', 'article_date' => '2023-07-11 06:22:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18421', 'article_category_id' => '1', 'title' => 'Second Phase of Economic Reforms Commences, Says Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat said that the second phase of economic reforms begins in the country with the implementation of the forthcoming fiscal year's budget.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> July 11: Finance Minister Dr. Prakash Sharan Mahat said that the second phase of economic reforms begins in the country with the implementation of the forthcoming fiscal year's budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Speaking to the media in Kathmandu on Monday, Minister Mahat expressed optimism about the nation's economic improvement and emphasized that the budget for the fiscal year 2023/24, along with accompanying plans and programs, will usher in positive momentum for the economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">"The new budget is designed to steer the economy back on track, marking the beginning of the second phase of reforms. We must accelerate these reform efforts," Dr. Mahat stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The initial stage of economic reforms was initiated in the early 1980s with the introduction of economic liberalization and an open market in the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Additionally, the Finance Minister highlighted positive signs in the economy, such as an increase in foreign exchange reserves and advancements in the tourism industry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">He further anticipated a potential reduction in bank interest rates, citing the upcoming monetary policy to be issued by the Nepal Rastra Bank for the upcoming fiscal year. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18151', 'image' => '20230711060454_collage (6).jpg', 'article_date' => '2023-07-11 06:03:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18418', 'article_category_id' => '1', 'title' => '178 People Killed in Road Accidents in Kathmandu Valley in 11 Months ', 'sub_title' => '', 'summary' => 'July 10: One hundred seventy eight people were killed in a total of 9,683 road accidents in the Kathmandu Valley (Kathmandu, Lalitpur and Bhaktapur districts) as of June 15, 2023 of the current fiscal year, 2022/23, according to the Kathmandu Valley Traffic Police Office. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: One hundred seventy eight people were killed in a total of 9,683 road accidents in the Kathmandu Valley (Kathmandu, Lalitpur and Bhaktapur districts) as of June 15, 2023 of the current fiscal year, 2022/23, according to the Kathmandu Valley Traffic Police Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 242 people were seriously injured, and 7,363 sustained minor injuries in those accidents in the valley. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ninety three of them died in motorcycle and scooter accidents while 56 victims were pedestrians. More than half of the deceased (35 men and 43 women) were of the 17-35 age group. Negligence of the drivers, over speeding, drink-driving, overtaking, bad weather and other technical problems have been blamed for the accidents. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18149', 'image' => '20230710093218_20220927120743_Kathmandu Valley.jpg', 'article_date' => '2023-07-10 21:31:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18420', 'article_category_id' => '1', 'title' => 'Earthquake jolts Sindhupalchok ', 'sub_title' => '', 'summary' => 'July 10: An earthquake measuring 3.8 on the Richter scale with its epicentre at Bahrabise of Sindhupalchok district was recorded at 12.47pm on Monday, according to the National Earthquake Monitoring and Research Center, Lainchaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: An earthquake measuring 3.8 on the Richter scale with its epicentre at Bahrabise of Sindhupalchok district was recorded at 12.47pm on Monday, according to the National Earthquake Monitoring and Research Center, Lainchaur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, an earthquake with magnitude 4 on the Richter scale with its epicentre near Bhalayakharka of Lamjung was recorded on June 23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earthquake tremors epicentred in places of the mountainous and hill regions of eastern and western parts of the country have become recurrent of late. The mountainous and hill region of Nepal is considered vulnerable to earthquakes. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18148', 'image' => '20230710094324_20221228113133_quake.jpg', 'article_date' => '2023-07-10 21:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18417', 'article_category_id' => '1', 'title' => 'Coca-Cola Empowers Young Women Entrepreneurs through Saksham Accelerator and Mentorship Program', 'sub_title' => '', 'summary' => 'July 10: Coca-Cola Nepal, in collaboration with Atelier Platform Pvt Ltd, announced the successful implementation of the Young Women Entrepreneurs Accelerator and Mentorship Program.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Coca-Cola Nepal, in collaboration with Atelier Platform Pvt Ltd, announced the successful implementation of the Young Women Entrepreneurs Accelerator and Mentorship Program.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent press statement, international soft drink brand said this program is a pivotal component of Coca-Cola Nepal's Women Empowerment Program, Saksham, and aims to provide comprehensive support and guidance to women startups and potential start-ups in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Coca-Cola, the Young Women Entrepreneurs Accelerator and Mentorship Program received an overwhelming response from enthusiastic women entrepreneurs from across Kathmandu, Pokhara, and Chitwan when the applications were opened in April 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Out of the impressive pool of applicants, eight exceptional finalists were carefully selected based on their innovative ideas and potential for success, adds the statements. The finalists were Brinda Dewan of Kehikrafts, Menuka Gurung of Duluwa Outdoors, Prakriti Basyal of South and Southeast Project, Rashi Maharjan of Learners Room: A path to wisdom, Rozina Baral of Search It, Sarala Maharjan of Bio-Enzymes, Shanti Rai of Greenspace Nepal and Yaju Maharjan of Swachha Mahinawari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To kick start the program, an orientation session was held on June 11, 2023, providing the finalists with valuable insights into the journey ahead, according to the company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Since then, a series of expert sessions have been organized to equip the participants with the necessary skills and knowledge to thrive in their entrepreneurial endeavors,” reads the statement, adding, “The finalists have had the privilege of attending sessions led by esteemed professionals and mentors, covering essential topics such as gender and women's rights, feminism and leadership, legal processes, climate change, marketing strategy, access to finance and banking, digital marketing, profitable presentation techniques, and design thinking.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Adarsh Avasthi, country director of Nepal for Coca Cola said that the program underscores the company’s unwavering dedication to fostering gender equality and empowering women in Nepal's dynamic entrepreneurial landscape.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“By offering comprehensive support and guidance to these aspiring young women entrepreneurs, we aim to create a sustainable ecosystem that not only propels their success but also contributes significantly to the overall development of Nepal's economy," the statement quoted Avasthi as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement added that the finalists have had the unique opportunity to engage with and learn from successful women entrepreneurs in Nepal throughout the program.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Esteemed guest speakers, including Prasanna Basnet (co-founder of Cotton Mill Nepal), Haushala Thapa Gurung (Haushala Creatives), Dr Manu Karki (Eco Sathi Nepal), and Sujata Shrestha (Ghaghar and M&S) shared their inspiring stories and insights, further motivating and empowering the young women on their entrepreneurial journeys.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Madhurima Bhadra, a gender, leadership and public health expert, says that there are limited opportunities for marginalized people, especially non-binary persons and sex workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I am so excited to be watching these young women already thinking about this special group of people and planning to provide opportunities for them in an all-inclusive environment," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement released by Coca-Cola, the finalists are now in the final stages of preparation for their ultimate pitch after weeks of intensive training and mentorship.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Their innovative ideas and business plans will be presented before a distinguished jury comprising three accomplished professionals in August, added the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, the top three participants will be awarded a cash prize of Rs 100,000 each, providing them with a significant boost to accelerate their ventures and to reach closer to their goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We are incredibly excited to witness the remarkable progress and determined enthusiasm displayed by the participants of the Young Women Entrepreneurs Accelerator and Mentorship Program. Our commitment to empowering women in Nepal drives us to continue training an additional 1000+ women through this program this year. Saksham, reinforces our belief in the potential and resilience of Nepalese women, and we look forward to accelerating more women’s entrepreneurial journey," says Deepak Senthil Nath, managing director of Bottlers Nepal that produces Coca-Cola in the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18147', 'image' => '20230710062915_Group Photo - Copy.jpg', 'article_date' => '2023-07-10 18:28:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18416', 'article_category_id' => '1', 'title' => 'Balance of Payments at a Surplus of Rs 228 Billion', 'sub_title' => '', 'summary' => 'July 10: The country’s Balance of Payments (BOP) remained at a surplus of Rs 228.98 billion in the first 11 months of the current fiscal year compared to a deficit of Rs 269.81 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px">July 10: The country’s Balance of Payments (BOP) remained at a surplus of Rs 228.98 billion in the first 11 months of the current fiscal year compared to a deficit of Rs 269.81 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">According to the Current Macroeconomic and Financial Situation Report published by the Nepal Rastra Bank on Monday, the BOP in terms of the US dollar remained at a surplus of 1.74 billion in the review period against a deficit of 2.26 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">Likewise, the current account remained at a deficit of Rs 69.40 billion in the review period compared to a deficit of Rs 592.14 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px"> In the US dollar terms, the current account registered a deficit of 536.1 million compared to a deficit of 4.93 billion in the same period last year.</span></p> <p><span style="font-size:18px">In the review period, capital transfer decreased 22.5 percent to Rs 7.35 billion and net foreign direct investment (FDI) recorded Rs 4.65 billion. In the same period of the previous year, capital transfer and net FDI amounted to Rs 9.49 billion and Rs 17.35 billion respectively.</span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18146', 'image' => '20230710061516_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-10 18:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18414', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Drops to 6.83 Percent: NRB Report', 'sub_title' => '', 'summary' => 'July 10: The year-on-year (y-o-y) consumer price inflation dropped to 6.83 percent in mid-June 2023 compared to 8.56 percent a year ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: The year-on-year (y-o-y) consumer price inflation dropped to 6.83 percent in mid-June 2023 compared to 8.56 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), the food and beverage inflation stood at 5.66 percent whereas non-food and service inflation rose to 7.76 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 35.29 percent, restaurant and hotel 14.36 percent, cereal grains and their products 13.06 percent, milk products and eggs 10.98 percent and tobacco products 8.49 percent while the y-o-y price index of ghee and oil sub-category decreased 16.60 percent, states the Current Macroeconomic and Financial Situation Report of the first 11 months of the current fiscal year published by NRB on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, the y-o-y price index of recreation and culture sub-category increased 15.75 percent, education 10.56 percent, miscellaneous goods and services 9.33 percent, housing and utilities 8.41 percent and furnishing and household equipment 7.83 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, consumer price inflation in the Kathmandu Valley, Terai, hill and mountain areas surged to 7.19 percent, 6.93 percent, 6.28 percent and 6.39 percent respectively. Inflation in these regions were 8.32 percent, 8.29 percent, 9.28 percent and 8.92 percent respectively a year ago, added the report.</span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18144', 'image' => '20230710030747_Inflation1.jpg', 'article_date' => '2023-07-10 15:07:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18413', 'article_category_id' => '1', 'title' => 'Trade Deficit Declines by 15 Percent', 'sub_title' => '', 'summary' => 'July 10: Nepal’s trade deficit decreased 15.2 percent to Rs 1337.39 billion during the eleven months of fiscal year 2022/23, according to the latest report of Nepal Rastra Bank (NRB). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Nepal’s trade deficit decreased 15.2 percent to Rs 1337.39 billion during the eleven months of fiscal year 2022/23, according to the latest report of Nepal Rastra Bank (NRB). Such a deficit had increased 25 percent in the corresponding period of the previous year, states the Current Macroeconomic and Financial Situation Report published by NRB on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio decreased to 9.7 percent in the review period from 10.5 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, merchandise imports from India by paying convertible foreign currency amounted Rs 138.47 billion. Such amount was Rs 200.88 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, the overall merchandise exports decreased 22.7 percent to Rs 143.59 billion against an increase of 53.3 percent in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India decreased 32.2 percent whereas exports to China and other countries increased 106.7 percent and 9.9 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Exports of zinc sheet, particle board, cardamom, woolen carpets, readymade garments, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, merchandise imports decreased by 16 percent to Rs 1480.98 billion against an increase of 27.5 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries decreased 14.8 percent, 17.1 percent and 18.5 percent respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of chemical fertilizer, sponge iron, gold, paper, other stationeries, among others, increased whereas imports of transport equipment and parts, MS billet, medicine, crude soybean oil, other machinery and parts, among others, decreased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18143', 'image' => '20230710030630_Trade.jpg', 'article_date' => '2023-07-10 15:05:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18412', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Exchange Reserves Increases to Rs 1480 Billion', 'sub_title' => 'Foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 11.2 months', 'summary' => 'July 10: Nepal’s gross foreign exchange reserves increased 21.8 percent to Rs 1480.87 billion in mid-June 2023 from Rs 1215.80 billion in mid-July 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Nepal’s gross foreign exchange reserves increased 21.8 percent to Rs 1480.87 billion in mid-June 2023 from Rs 1215.80 billion in mid-July 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Current Macroeconomic and Financial Situation Report published by the Nepal Rastra Bank on Monday, the gross foreign exchange reserves in terms of the US dollar increased 18.5 percent to 11.30 billion in mid-June 2023 from 9.54 billion in mid-July 2022. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB increased 25.1 percent to Rs 1321.25 billion in mid-June 2023 from Rs 1056.39 billion in mid-July 2022, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank, the reserves held by banks and financial institutions (except NRB) increased 0.1 percent to Rs 159.63 billion in mid-June 2023 from Rs 159.41 billion in mid-July 2022. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The share of Indian currency in total reserves stood at 22.9 percent in mid-June 2023. Foreign </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the imports of eleven months of 2022/23, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 11.2 months and merchandise and services imports of 9.6 months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB report states that the ratio of reserves-to-GDP, reserves-to-imports and reserves-to-M2 stood at 27.5 percent, 80.3 percent and 25.0 percent respectively in mid-June 2023. Such ratios were 24.6 percent, 57.8 percent and 22.1 percent respectively in mid-July 2022.</span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18142', 'image' => '20230710020950_dollar.jpg', 'article_date' => '2023-07-10 14:09:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18411', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases by 22.7 Percent in Current Fiscal ', 'sub_title' => '', 'summary' => 'July 10: Nepal received remittance of Rs 1112.52 billion in the first eleven months of the current fiscal year, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: Nepal received remittance of Rs 1112.52 billion in the first eleven months of the current fiscal year, according to the latest report of Nepal Rastra Bank (NRB).</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"">Unveiling the Current Macroeconomic and Financial Situation Report based on the eleven months of the fiscal year 2022/23, the central bank said inflow of remittance increased by 22.7 percent to reach Rs 1112.52 billion in the review period compared to an increase of 4.1 percent in the same period of the previous year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the US dollar terms, remittance inflows increased 13.0 percent to 8.51 billion in the review period compared to an increase of 1.8 percent in the same period of the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the number of Nepali workers (institutional and individual) obtaining approval for foreign employment increased by 46.6 percent and reached 459,415 in the review period. The number of Nepali workers (renew entry) taking approval for foreign employment increased 0.5 percent to 260,262 in the review period. It had increased 208.3 percent in the same period of the previous year, the report stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the NRB report, net transfer increased by 21.9 percent to reach Rs 1229.82 billion during this period. Such a transfer had increased 3.8 percent in the same period of the previous year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18141', 'image' => '20230710012519_Remittance.jpg', 'article_date' => '2023-07-10 13:24:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18410', 'article_category_id' => '1', 'title' => 'Liberal Policy Vital for Economic Vibrancy: Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'July 10: Finance Minister Dr Prakash Sharan Mahat has underlined the need of a liberal monetary policy for the acceleration of economic activities. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: Finance Minister Dr Prakash Sharan Mahat has underlined the need of a liberal monetary policy for the acceleration of economic activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a discussion on "Nepal's economic situation and upcoming monetary policy," the finance minister said the economy would be vibrant if the issue of policy rate was addressed while formulating the monetary policy for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A liberal policy is capable of making the economy vibrant, according to the finance minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He took time to insist on the collaboration between the Finance Ministry and the Nepal Rastra Bank to promote the nation's economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Mahat said that the government wished the NRB to function independently and make efforts for the improvement of overall economy. </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"">“There should be coherence between the finance policy and monetary policy to operate the economy effectively,” he said.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the government's fiscal policy emphasized on improving the economy. </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"">"At the moment, capital flow is limited due to high cost, preventing the economy to catch its vibrancy. The government prioritizes fiscal discipline," he said adding that it had controlled the unnecessary budget transfer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> According to him, the government has set a target of achieving six percent economic growth in the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Economist Dr Dilliraj Khanal shared his view saying that the problem in the banking and financial sector would result in problems in the entire economy. "Although the economy is on the path to improvement, it is still in crisis. The liquidity has increased at present. However, the loans have not expanded," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the government brought an extension-oriented monetary policy for the post-Covid recovery, he said that was required but it could not produce the expected output later on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Economist Khanal said problems like investment in the unproductive sectors, limited big business houses using a large chunk of loans on concessional basis, cooperatives becoming problematic, among others are seen in the financial sector and these needed to be addressed. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18140', 'image' => '20230710121340_20230514062755_collage (17).jpg', 'article_date' => '2023-07-10 12:13:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18409', 'article_category_id' => '1', 'title' => 'KMC Fines Eatery for Selling Sub-Standard Food ', 'sub_title' => '', 'summary' => 'July 10: The Kathmandu Metropolitan City (KMC) has fined an eatery for selling sub-standard food products. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: The Kathmandu Metropolitan City (KMC) has fined an eatery for selling sub-standard food products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Akash Foods, a shop in Lazimpat in the city, was fined Rs 150,000 for selling rotten sweets, said Monitoring Officer of KMC Balram Tripathi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Tripathi, the owner of the sweets house, Ankur Agrawal, has been directed to pay the penalty amount at the bank account of KMC within a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the wrongdoer would be fined additional amount if he failed to deposit the penalty amount in the given timeline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the KMC fined an individual from KMC-6 in Bauddha for mixing the septic tank into the drainage system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC said that Gokul Bahadur Budhathoki was slapped Rs 50,000 in fine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the recent time, the KMC has upped its monitoring job to keep the city and its heritages neat and clean. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18139', 'image' => '20230710111858_KMC.jpg', 'article_date' => '2023-07-10 11:18:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18408', 'article_category_id' => '1', 'title' => 'Provinces Fare Worse in Budget Expenditure, Spend only 49 Percent of Total Budget in Current FY', 'sub_title' => '', 'summary' => 'July 9: The provinces have spent only half of their budget till June 15 of the current Fiscal Year 2022/23. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 9: The provinces have spent only half of their budget till June 15 of the current Fiscal Year 2022/23. Of the total budget of Rs 306 billion that the provinces passed for the current fiscal year, they have spent only Rs 151.3 billion as of June 15, which accounts for 49.45 percent of the total annual allocations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As per the data on budget expenditure by provinces shared by the Office of the Comptroller General, Koshi Province's expenditure is the highest (61.41 percent) and the Madhes Province's is the lowest (36.25 percent) in the first 11 months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">During the review period, Bagmati Province's budget expenditure stood at 50.62 percent, Gandaki Province's at 48.19 percent, Lumbini Province's at 55.54 percent, Karnali Province's at 45.60 percent and Sudurpaschim Province's at 48.54 percent. The average expenditure towards the recurrent expenditure was 55.68 percent and 46.11 percent towards capital expenditure during this period.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Koshi Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Koshi Province had brought a total budget of Rs 39.91 billion for the current fiscal year and its expenditure till June 15 was Rs 24.51 billion. This province spent Rs 11.65 (70 percent) out of the total allocation of Rs 16.62 billion towards current expenditure and Rs 12.86 billion ( 55 percent) out of the total allocations of Rs 23.29 billion towards capital expenditure.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Madhesh Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The budget expenditure of Madhesh Province was the lowest as compared to the rest of the provinces. The province had brought a budget of Rs 46.98 billion for the current fiscal year and it spent only Rs 17 billion until June 15. The budget expenditure was 36.25 percent of the total annual budget allocations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Madhesh Province spent 33 percent for recurrent expenses and 38.34 percent under the heading of capital expenditure in the first 11 months of the current fiscal year. Out of the Rs 20.8 billion set aside for recurrent expenditure, the province spent Rs 6 billion 996 million 700 thousand. Similarly, out of the Rs 26.18 billion allocated for capital expenditure, the province spent Rs 10 billion or 38 percent of the allocation.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province had brought a budget of Rs 70 billion 939 million 200 thousand for the current fiscal year and it spent Rs 35.91 billion or 50.62 percent of the total budget till June 15. The budget expenditure of this province under the current expenditure heading was 61.61 percent while it was 46 percent under capital expenditure heading and 30 percent under fiscal management heading during this period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The province had allocated Rs 26.84 billion for current expenditure and it spent Rs 16.53 billion. Similarly, out of the Rs 42 billion 90 million allocated for capital expenditure, it spent Rs 19.37 billion. Rs 2 billion was allocated for fiscal management and the expenditure under this heading was Rs 600 million.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Gandaki Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of over Rs 35.9 billion set aside for the province in the current FY, Rs 17.3 billion has been spent as of June 15 which is 48 percent of the allocated budget. Under current expenditures, Rs 6.9 billion (54 percent) of over Rs 12.8 billion set aside has been spent, and under capital expenditures, Rs 10.3 billion (45.82 percent) of more than Rs 22.5 billion allocated.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Lumbini Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The province spent Rs 23.7 billion of the total Rs 42.7 billion allocated for the province. The figure was 55.54 percent. Under current expenditures, it spent Rs 10.9 billion (61.20 percent) of Rs 17.9 billion allocated, and under capital expenditure, it spent Rs 12.7 billion (51.45 percent) of Rs 24.7 billion allocated.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Karnali Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of Rs 32.7 billion allocated for the province, Rs 14.9 billion (45.60 percent) has been spent. Under current expenditures, Rs 7.1 billion (53.64 percent) of Rs 13.8 billion set aside has been spent, and under capital expenditures, Rs 7.9 billion (40.25 percent) of Rs 19.6 billion spent.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Sudurpaschim Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of Rs 36.7 billion allocated for the province, Rs 17.8 billion (48.54 percent) has been spent. Under current expenditures, Rs 6.7 billion (55.32 percent) of Rs 12.2 billion allocated has been spent, and under capital expenditures, Rs 11.7 billion (45.71 percent) of Rs 24.2 billion set aside has been spent. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18138', 'image' => '20230709093914_20230628120055_1683767264.jpg', 'article_date' => '2023-07-09 21:37:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18407', 'article_category_id' => '1', 'title' => 'Women Entrepreneurs Play a Key Role in Driving the Economy: Stakeholders', 'sub_title' => '', 'summary' => 'July 9: Government officials have said that the role of women entrepreneurs is important to keep the country's economy afloat.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 9: Government officials have said that the role of women entrepreneurs is important to keep the country's economy afloat. Speaking at the 'Standard Chartered NewBiz Business Women Summit and Awards 2023' organized by New Business Age in Kathmandu on Friday, Finance Minister Dr Prakash Sharan Mahat said that women who have been handling the economy of the house are now going to be in a position of running the economy of the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He emphasized that women should take the lead in the future to stabilize the enterprises. According to Minister Mahat, there is no capital limit in the information technology sector and women can take advantage of this as there is a provision for starting a company at Rs 100. He said that the work done by women is important.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He also thanked the organizers for representing women engaged in various fields of enterprise. Women's empowerment has also been given priority in the budget and the government has announced to create a women's industrial village for the first time in Panchkhaal, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at the same event, Nepal Rastra Bank’s Governor Maha Prasad Adhikari said that the number of women entrepreneurs will increase encouragingly due to subsidized loans. He reminded that there is a program to give collateral-free loans of up to Rs 1.5 million to women for doing business and further added, “Three years ago, only 25,000 people took this loan. Now, more than 83,000 have taken loans of Rs 61 billion.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Governor Adhikari said that women entrepreneurs will play a major role in reducing the trade imbalance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"There is a good demand in the market for the products of women entrepreneurs," said Adhikari, "They can play a role in import substitution and export promotion by increasing production." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Citing the example of women in the leadership of large companies such as Daraz and Goldstar, he said that the participation of women in the modernization and innovation of Nepal is also great.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Adhikari informed that gender inclusion is increasing in the financial sector and for that, the NRB is conducting financial literacy programs. He also said that initiatives are being taken through the Ministry of Education to include the subject of financial literacy in the school curriculum. According to the governor, 49 per cent of men and 48 per cent of women have accounts in banks and financial institutions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that enterprise is important to advance the country's economy, Governor Adhikari said that in 2022, the gender imbalance has improved by 4 per cent worldwide. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“Gender imbalance should be gradually reduced in Nepal as well. We are doing it," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Anirwan Ghosh Dastidar, Chief Executive Officer (CEO) of Standard Chartered Bank Nepal Limited, said that modern Nepali women are a source of power.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Saying that his bank aims to support the youth and small businesses in the community, he said that he is happy to see that women are active in bringing about meaningful changes in the professional system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Modern Nepalese women are powerhouses, who are leaving their mark in all fields of politics, fashion, business, science, sports, art, " CEO Dastidar said adding, "What we believe in at Standard Chartered is to support the youth and small businesses in our community. It is an important step towards increasing participation in our market and promoting financial inclusion, which will bring meaningful change.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He also said that he was very proud to meet so many talented women entrepreneurs working to bring meaningful changes in the business system together under one roof.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sabita Subedi, director of New Business Age Pvt. Ltd., said at the event that the main objective of the awards is to encourage women entrepreneurs. Subedi said that the state must create a favourable environment for women entrepreneurs to increase their contribution to the country's economy.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18137', 'image' => '20230709041956_role.jpg', 'article_date' => '2023-07-09 16:19:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18406', 'article_category_id' => '1', 'title' => 'Discount on Russian Oil to India Shrinks from US$ 30 Per Barrel to US$ 4', 'sub_title' => '', 'summary' => 'July 9: India has been buying large quantities of crude oil from Russian ever since Russia’s invasion of Ukraine in February last year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Agencies</span></span></span></span></p> <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 9: India has been buying large quantities of crude oil from Russian ever since Russia’s invasion of Ukraine in February last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The concession on oil given to India by Russia has been reduced significantly at present. </span></span></span></span></p> <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"">Russia has been selling crude oil to India for less than $60 per barrel. This is lower than the price limit set by Western countries for Russian oil. But when bringing oil from the Baltic to India via the Black Sea, the delivery charge per barrel ranges from $11 to $19. Sources say that this is double the normal rate.</span></span></span></span></p> <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"">After Russia attacked Ukraine on February 24, 2022, European buyers and some buyers in Asia, including Japan, banned Russian oil. Russia then started selling oil to India and China at a massive discount. </span></span></span></span></p> <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"">Until the middle of last year, Russia used to give a discount of $30 per barrel to India. But recently it has been reduced to US$ 4 per barrel, according to sources.</span></span></span></span></p> <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"">Currently, India is the largest buyer of Russian oil. Due to increasing electrification of vehicles and economic slowdown, the demand for Russian crude oil in China has reached its peak and started to decrease. Before the Ukrainian war, the proportion of Russian oil in India's total crude oil imports was less than 2 percent. But recently, the share of Russian oil has increased to 44 percent.</span></span></span></span></p> <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 also said that the discount is shrinking because Indian oil companies are negotiating separately with Russian companies. Sources say that the discount could have been much higher if the state-owned oil companies had bargained collectively.</span></span></span></span></p> <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 is buying 2 million barrels of oil per day from Russia. Sixty percent of this oil is bought by government oil companies. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18136', 'image' => '20230709035706_gbo-india-likely-to-buy-russian-oil.jpg', 'article_date' => '2023-07-09 15:56:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18422', 'article_category_id' => '1', 'title' => '419 People Lose Lives to Lightning Strikes in Five Years', 'sub_title' => '', 'summary' => 'A total of 419 individuals have lost their lives due to lightning strikes over the past five years. Similarly, properties worth over Rs 60 million have been destroyed, according to the National Disaster Risk Reduction and Management Authority (NDRRMA).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 11: A total of 419 individuals have lost their lives due to lightning strikes over the past five years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, properties worth over Rs 60 million have been destroyed, according to the National Disaster Risk Reduction and Management Authority (NDRRMA).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the provinces, Koshi Province recorded the highest number of fatalities, with 108 deaths caused by lightning strikes. Lumbini Province follows closely with 76 deaths, while Madhes Province witnessed 69 deaths. Bagmati Province reported 62 fatalities, Sudurpaschim Province had 43, Gandaki Province had 36, and Karnali Province experienced 25 deaths.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Three thousand one hundred and eighty seven domestic animals were killed in the disaster, and 57 physical infrastructures have been damaged, according to NDRRMA. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18152', 'image' => '20230711062447_collage (7).jpg', 'article_date' => '2023-07-11 06:22:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18421', 'article_category_id' => '1', 'title' => 'Second Phase of Economic Reforms Commences, Says Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat said that the second phase of economic reforms begins in the country with the implementation of the forthcoming fiscal year's budget.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> July 11: Finance Minister Dr. Prakash Sharan Mahat said that the second phase of economic reforms begins in the country with the implementation of the forthcoming fiscal year's budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Speaking to the media in Kathmandu on Monday, Minister Mahat expressed optimism about the nation's economic improvement and emphasized that the budget for the fiscal year 2023/24, along with accompanying plans and programs, will usher in positive momentum for the economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">"The new budget is designed to steer the economy back on track, marking the beginning of the second phase of reforms. We must accelerate these reform efforts," Dr. Mahat stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The initial stage of economic reforms was initiated in the early 1980s with the introduction of economic liberalization and an open market in the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Additionally, the Finance Minister highlighted positive signs in the economy, such as an increase in foreign exchange reserves and advancements in the tourism industry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">He further anticipated a potential reduction in bank interest rates, citing the upcoming monetary policy to be issued by the Nepal Rastra Bank for the upcoming fiscal year. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18151', 'image' => '20230711060454_collage (6).jpg', 'article_date' => '2023-07-11 06:03:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18418', 'article_category_id' => '1', 'title' => '178 People Killed in Road Accidents in Kathmandu Valley in 11 Months ', 'sub_title' => '', 'summary' => 'July 10: One hundred seventy eight people were killed in a total of 9,683 road accidents in the Kathmandu Valley (Kathmandu, Lalitpur and Bhaktapur districts) as of June 15, 2023 of the current fiscal year, 2022/23, according to the Kathmandu Valley Traffic Police Office. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: One hundred seventy eight people were killed in a total of 9,683 road accidents in the Kathmandu Valley (Kathmandu, Lalitpur and Bhaktapur districts) as of June 15, 2023 of the current fiscal year, 2022/23, according to the Kathmandu Valley Traffic Police Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 242 people were seriously injured, and 7,363 sustained minor injuries in those accidents in the valley. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ninety three of them died in motorcycle and scooter accidents while 56 victims were pedestrians. More than half of the deceased (35 men and 43 women) were of the 17-35 age group. Negligence of the drivers, over speeding, drink-driving, overtaking, bad weather and other technical problems have been blamed for the accidents. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18149', 'image' => '20230710093218_20220927120743_Kathmandu Valley.jpg', 'article_date' => '2023-07-10 21:31:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18420', 'article_category_id' => '1', 'title' => 'Earthquake jolts Sindhupalchok ', 'sub_title' => '', 'summary' => 'July 10: An earthquake measuring 3.8 on the Richter scale with its epicentre at Bahrabise of Sindhupalchok district was recorded at 12.47pm on Monday, according to the National Earthquake Monitoring and Research Center, Lainchaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: An earthquake measuring 3.8 on the Richter scale with its epicentre at Bahrabise of Sindhupalchok district was recorded at 12.47pm on Monday, according to the National Earthquake Monitoring and Research Center, Lainchaur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, an earthquake with magnitude 4 on the Richter scale with its epicentre near Bhalayakharka of Lamjung was recorded on June 23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earthquake tremors epicentred in places of the mountainous and hill regions of eastern and western parts of the country have become recurrent of late. The mountainous and hill region of Nepal is considered vulnerable to earthquakes. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18148', 'image' => '20230710094324_20221228113133_quake.jpg', 'article_date' => '2023-07-10 21:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18417', 'article_category_id' => '1', 'title' => 'Coca-Cola Empowers Young Women Entrepreneurs through Saksham Accelerator and Mentorship Program', 'sub_title' => '', 'summary' => 'July 10: Coca-Cola Nepal, in collaboration with Atelier Platform Pvt Ltd, announced the successful implementation of the Young Women Entrepreneurs Accelerator and Mentorship Program.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Coca-Cola Nepal, in collaboration with Atelier Platform Pvt Ltd, announced the successful implementation of the Young Women Entrepreneurs Accelerator and Mentorship Program.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent press statement, international soft drink brand said this program is a pivotal component of Coca-Cola Nepal's Women Empowerment Program, Saksham, and aims to provide comprehensive support and guidance to women startups and potential start-ups in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Coca-Cola, the Young Women Entrepreneurs Accelerator and Mentorship Program received an overwhelming response from enthusiastic women entrepreneurs from across Kathmandu, Pokhara, and Chitwan when the applications were opened in April 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Out of the impressive pool of applicants, eight exceptional finalists were carefully selected based on their innovative ideas and potential for success, adds the statements. The finalists were Brinda Dewan of Kehikrafts, Menuka Gurung of Duluwa Outdoors, Prakriti Basyal of South and Southeast Project, Rashi Maharjan of Learners Room: A path to wisdom, Rozina Baral of Search It, Sarala Maharjan of Bio-Enzymes, Shanti Rai of Greenspace Nepal and Yaju Maharjan of Swachha Mahinawari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To kick start the program, an orientation session was held on June 11, 2023, providing the finalists with valuable insights into the journey ahead, according to the company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Since then, a series of expert sessions have been organized to equip the participants with the necessary skills and knowledge to thrive in their entrepreneurial endeavors,” reads the statement, adding, “The finalists have had the privilege of attending sessions led by esteemed professionals and mentors, covering essential topics such as gender and women's rights, feminism and leadership, legal processes, climate change, marketing strategy, access to finance and banking, digital marketing, profitable presentation techniques, and design thinking.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Adarsh Avasthi, country director of Nepal for Coca Cola said that the program underscores the company’s unwavering dedication to fostering gender equality and empowering women in Nepal's dynamic entrepreneurial landscape.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“By offering comprehensive support and guidance to these aspiring young women entrepreneurs, we aim to create a sustainable ecosystem that not only propels their success but also contributes significantly to the overall development of Nepal's economy," the statement quoted Avasthi as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement added that the finalists have had the unique opportunity to engage with and learn from successful women entrepreneurs in Nepal throughout the program.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Esteemed guest speakers, including Prasanna Basnet (co-founder of Cotton Mill Nepal), Haushala Thapa Gurung (Haushala Creatives), Dr Manu Karki (Eco Sathi Nepal), and Sujata Shrestha (Ghaghar and M&S) shared their inspiring stories and insights, further motivating and empowering the young women on their entrepreneurial journeys.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Madhurima Bhadra, a gender, leadership and public health expert, says that there are limited opportunities for marginalized people, especially non-binary persons and sex workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I am so excited to be watching these young women already thinking about this special group of people and planning to provide opportunities for them in an all-inclusive environment," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement released by Coca-Cola, the finalists are now in the final stages of preparation for their ultimate pitch after weeks of intensive training and mentorship.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Their innovative ideas and business plans will be presented before a distinguished jury comprising three accomplished professionals in August, added the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, the top three participants will be awarded a cash prize of Rs 100,000 each, providing them with a significant boost to accelerate their ventures and to reach closer to their goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We are incredibly excited to witness the remarkable progress and determined enthusiasm displayed by the participants of the Young Women Entrepreneurs Accelerator and Mentorship Program. Our commitment to empowering women in Nepal drives us to continue training an additional 1000+ women through this program this year. Saksham, reinforces our belief in the potential and resilience of Nepalese women, and we look forward to accelerating more women’s entrepreneurial journey," says Deepak Senthil Nath, managing director of Bottlers Nepal that produces Coca-Cola in the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18147', 'image' => '20230710062915_Group Photo - Copy.jpg', 'article_date' => '2023-07-10 18:28:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18416', 'article_category_id' => '1', 'title' => 'Balance of Payments at a Surplus of Rs 228 Billion', 'sub_title' => '', 'summary' => 'July 10: The country’s Balance of Payments (BOP) remained at a surplus of Rs 228.98 billion in the first 11 months of the current fiscal year compared to a deficit of Rs 269.81 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px">July 10: The country’s Balance of Payments (BOP) remained at a surplus of Rs 228.98 billion in the first 11 months of the current fiscal year compared to a deficit of Rs 269.81 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">According to the Current Macroeconomic and Financial Situation Report published by the Nepal Rastra Bank on Monday, the BOP in terms of the US dollar remained at a surplus of 1.74 billion in the review period against a deficit of 2.26 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">Likewise, the current account remained at a deficit of Rs 69.40 billion in the review period compared to a deficit of Rs 592.14 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px"> In the US dollar terms, the current account registered a deficit of 536.1 million compared to a deficit of 4.93 billion in the same period last year.</span></p> <p><span style="font-size:18px">In the review period, capital transfer decreased 22.5 percent to Rs 7.35 billion and net foreign direct investment (FDI) recorded Rs 4.65 billion. In the same period of the previous year, capital transfer and net FDI amounted to Rs 9.49 billion and Rs 17.35 billion respectively.</span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18146', 'image' => '20230710061516_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-10 18:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18414', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Drops to 6.83 Percent: NRB Report', 'sub_title' => '', 'summary' => 'July 10: The year-on-year (y-o-y) consumer price inflation dropped to 6.83 percent in mid-June 2023 compared to 8.56 percent a year ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: The year-on-year (y-o-y) consumer price inflation dropped to 6.83 percent in mid-June 2023 compared to 8.56 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), the food and beverage inflation stood at 5.66 percent whereas non-food and service inflation rose to 7.76 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 35.29 percent, restaurant and hotel 14.36 percent, cereal grains and their products 13.06 percent, milk products and eggs 10.98 percent and tobacco products 8.49 percent while the y-o-y price index of ghee and oil sub-category decreased 16.60 percent, states the Current Macroeconomic and Financial Situation Report of the first 11 months of the current fiscal year published by NRB on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, the y-o-y price index of recreation and culture sub-category increased 15.75 percent, education 10.56 percent, miscellaneous goods and services 9.33 percent, housing and utilities 8.41 percent and furnishing and household equipment 7.83 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, consumer price inflation in the Kathmandu Valley, Terai, hill and mountain areas surged to 7.19 percent, 6.93 percent, 6.28 percent and 6.39 percent respectively. Inflation in these regions were 8.32 percent, 8.29 percent, 9.28 percent and 8.92 percent respectively a year ago, added the report.</span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18144', 'image' => '20230710030747_Inflation1.jpg', 'article_date' => '2023-07-10 15:07:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18413', 'article_category_id' => '1', 'title' => 'Trade Deficit Declines by 15 Percent', 'sub_title' => '', 'summary' => 'July 10: Nepal’s trade deficit decreased 15.2 percent to Rs 1337.39 billion during the eleven months of fiscal year 2022/23, according to the latest report of Nepal Rastra Bank (NRB). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Nepal’s trade deficit decreased 15.2 percent to Rs 1337.39 billion during the eleven months of fiscal year 2022/23, according to the latest report of Nepal Rastra Bank (NRB). Such a deficit had increased 25 percent in the corresponding period of the previous year, states the Current Macroeconomic and Financial Situation Report published by NRB on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio decreased to 9.7 percent in the review period from 10.5 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, merchandise imports from India by paying convertible foreign currency amounted Rs 138.47 billion. Such amount was Rs 200.88 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, the overall merchandise exports decreased 22.7 percent to Rs 143.59 billion against an increase of 53.3 percent in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India decreased 32.2 percent whereas exports to China and other countries increased 106.7 percent and 9.9 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Exports of zinc sheet, particle board, cardamom, woolen carpets, readymade garments, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, merchandise imports decreased by 16 percent to Rs 1480.98 billion against an increase of 27.5 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries decreased 14.8 percent, 17.1 percent and 18.5 percent respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of chemical fertilizer, sponge iron, gold, paper, other stationeries, among others, increased whereas imports of transport equipment and parts, MS billet, medicine, crude soybean oil, other machinery and parts, among others, decreased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18143', 'image' => '20230710030630_Trade.jpg', 'article_date' => '2023-07-10 15:05:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18412', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Exchange Reserves Increases to Rs 1480 Billion', 'sub_title' => 'Foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 11.2 months', 'summary' => 'July 10: Nepal’s gross foreign exchange reserves increased 21.8 percent to Rs 1480.87 billion in mid-June 2023 from Rs 1215.80 billion in mid-July 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Nepal’s gross foreign exchange reserves increased 21.8 percent to Rs 1480.87 billion in mid-June 2023 from Rs 1215.80 billion in mid-July 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Current Macroeconomic and Financial Situation Report published by the Nepal Rastra Bank on Monday, the gross foreign exchange reserves in terms of the US dollar increased 18.5 percent to 11.30 billion in mid-June 2023 from 9.54 billion in mid-July 2022. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB increased 25.1 percent to Rs 1321.25 billion in mid-June 2023 from Rs 1056.39 billion in mid-July 2022, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank, the reserves held by banks and financial institutions (except NRB) increased 0.1 percent to Rs 159.63 billion in mid-June 2023 from Rs 159.41 billion in mid-July 2022. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The share of Indian currency in total reserves stood at 22.9 percent in mid-June 2023. Foreign </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the imports of eleven months of 2022/23, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 11.2 months and merchandise and services imports of 9.6 months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB report states that the ratio of reserves-to-GDP, reserves-to-imports and reserves-to-M2 stood at 27.5 percent, 80.3 percent and 25.0 percent respectively in mid-June 2023. Such ratios were 24.6 percent, 57.8 percent and 22.1 percent respectively in mid-July 2022.</span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18142', 'image' => '20230710020950_dollar.jpg', 'article_date' => '2023-07-10 14:09:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18411', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases by 22.7 Percent in Current Fiscal ', 'sub_title' => '', 'summary' => 'July 10: Nepal received remittance of Rs 1112.52 billion in the first eleven months of the current fiscal year, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: Nepal received remittance of Rs 1112.52 billion in the first eleven months of the current fiscal year, according to the latest report of Nepal Rastra Bank (NRB).</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"">Unveiling the Current Macroeconomic and Financial Situation Report based on the eleven months of the fiscal year 2022/23, the central bank said inflow of remittance increased by 22.7 percent to reach Rs 1112.52 billion in the review period compared to an increase of 4.1 percent in the same period of the previous year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the US dollar terms, remittance inflows increased 13.0 percent to 8.51 billion in the review period compared to an increase of 1.8 percent in the same period of the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the number of Nepali workers (institutional and individual) obtaining approval for foreign employment increased by 46.6 percent and reached 459,415 in the review period. The number of Nepali workers (renew entry) taking approval for foreign employment increased 0.5 percent to 260,262 in the review period. It had increased 208.3 percent in the same period of the previous year, the report stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the NRB report, net transfer increased by 21.9 percent to reach Rs 1229.82 billion during this period. Such a transfer had increased 3.8 percent in the same period of the previous year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18141', 'image' => '20230710012519_Remittance.jpg', 'article_date' => '2023-07-10 13:24:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18410', 'article_category_id' => '1', 'title' => 'Liberal Policy Vital for Economic Vibrancy: Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'July 10: Finance Minister Dr Prakash Sharan Mahat has underlined the need of a liberal monetary policy for the acceleration of economic activities. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: Finance Minister Dr Prakash Sharan Mahat has underlined the need of a liberal monetary policy for the acceleration of economic activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a discussion on "Nepal's economic situation and upcoming monetary policy," the finance minister said the economy would be vibrant if the issue of policy rate was addressed while formulating the monetary policy for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A liberal policy is capable of making the economy vibrant, according to the finance minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He took time to insist on the collaboration between the Finance Ministry and the Nepal Rastra Bank to promote the nation's economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Mahat said that the government wished the NRB to function independently and make efforts for the improvement of overall economy. </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"">“There should be coherence between the finance policy and monetary policy to operate the economy effectively,” he said.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the government's fiscal policy emphasized on improving the economy. </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"">"At the moment, capital flow is limited due to high cost, preventing the economy to catch its vibrancy. The government prioritizes fiscal discipline," he said adding that it had controlled the unnecessary budget transfer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> According to him, the government has set a target of achieving six percent economic growth in the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Economist Dr Dilliraj Khanal shared his view saying that the problem in the banking and financial sector would result in problems in the entire economy. "Although the economy is on the path to improvement, it is still in crisis. The liquidity has increased at present. However, the loans have not expanded," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the government brought an extension-oriented monetary policy for the post-Covid recovery, he said that was required but it could not produce the expected output later on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Economist Khanal said problems like investment in the unproductive sectors, limited big business houses using a large chunk of loans on concessional basis, cooperatives becoming problematic, among others are seen in the financial sector and these needed to be addressed. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18140', 'image' => '20230710121340_20230514062755_collage (17).jpg', 'article_date' => '2023-07-10 12:13:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18409', 'article_category_id' => '1', 'title' => 'KMC Fines Eatery for Selling Sub-Standard Food ', 'sub_title' => '', 'summary' => 'July 10: The Kathmandu Metropolitan City (KMC) has fined an eatery for selling sub-standard food products. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: The Kathmandu Metropolitan City (KMC) has fined an eatery for selling sub-standard food products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Akash Foods, a shop in Lazimpat in the city, was fined Rs 150,000 for selling rotten sweets, said Monitoring Officer of KMC Balram Tripathi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Tripathi, the owner of the sweets house, Ankur Agrawal, has been directed to pay the penalty amount at the bank account of KMC within a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the wrongdoer would be fined additional amount if he failed to deposit the penalty amount in the given timeline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the KMC fined an individual from KMC-6 in Bauddha for mixing the septic tank into the drainage system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC said that Gokul Bahadur Budhathoki was slapped Rs 50,000 in fine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the recent time, the KMC has upped its monitoring job to keep the city and its heritages neat and clean. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18139', 'image' => '20230710111858_KMC.jpg', 'article_date' => '2023-07-10 11:18:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18408', 'article_category_id' => '1', 'title' => 'Provinces Fare Worse in Budget Expenditure, Spend only 49 Percent of Total Budget in Current FY', 'sub_title' => '', 'summary' => 'July 9: The provinces have spent only half of their budget till June 15 of the current Fiscal Year 2022/23. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 9: The provinces have spent only half of their budget till June 15 of the current Fiscal Year 2022/23. Of the total budget of Rs 306 billion that the provinces passed for the current fiscal year, they have spent only Rs 151.3 billion as of June 15, which accounts for 49.45 percent of the total annual allocations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As per the data on budget expenditure by provinces shared by the Office of the Comptroller General, Koshi Province's expenditure is the highest (61.41 percent) and the Madhes Province's is the lowest (36.25 percent) in the first 11 months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">During the review period, Bagmati Province's budget expenditure stood at 50.62 percent, Gandaki Province's at 48.19 percent, Lumbini Province's at 55.54 percent, Karnali Province's at 45.60 percent and Sudurpaschim Province's at 48.54 percent. The average expenditure towards the recurrent expenditure was 55.68 percent and 46.11 percent towards capital expenditure during this period.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Koshi Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Koshi Province had brought a total budget of Rs 39.91 billion for the current fiscal year and its expenditure till June 15 was Rs 24.51 billion. This province spent Rs 11.65 (70 percent) out of the total allocation of Rs 16.62 billion towards current expenditure and Rs 12.86 billion ( 55 percent) out of the total allocations of Rs 23.29 billion towards capital expenditure.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Madhesh Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The budget expenditure of Madhesh Province was the lowest as compared to the rest of the provinces. The province had brought a budget of Rs 46.98 billion for the current fiscal year and it spent only Rs 17 billion until June 15. The budget expenditure was 36.25 percent of the total annual budget allocations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Madhesh Province spent 33 percent for recurrent expenses and 38.34 percent under the heading of capital expenditure in the first 11 months of the current fiscal year. Out of the Rs 20.8 billion set aside for recurrent expenditure, the province spent Rs 6 billion 996 million 700 thousand. Similarly, out of the Rs 26.18 billion allocated for capital expenditure, the province spent Rs 10 billion or 38 percent of the allocation.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province had brought a budget of Rs 70 billion 939 million 200 thousand for the current fiscal year and it spent Rs 35.91 billion or 50.62 percent of the total budget till June 15. The budget expenditure of this province under the current expenditure heading was 61.61 percent while it was 46 percent under capital expenditure heading and 30 percent under fiscal management heading during this period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The province had allocated Rs 26.84 billion for current expenditure and it spent Rs 16.53 billion. Similarly, out of the Rs 42 billion 90 million allocated for capital expenditure, it spent Rs 19.37 billion. Rs 2 billion was allocated for fiscal management and the expenditure under this heading was Rs 600 million.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Gandaki Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of over Rs 35.9 billion set aside for the province in the current FY, Rs 17.3 billion has been spent as of June 15 which is 48 percent of the allocated budget. Under current expenditures, Rs 6.9 billion (54 percent) of over Rs 12.8 billion set aside has been spent, and under capital expenditures, Rs 10.3 billion (45.82 percent) of more than Rs 22.5 billion allocated.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Lumbini Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The province spent Rs 23.7 billion of the total Rs 42.7 billion allocated for the province. The figure was 55.54 percent. Under current expenditures, it spent Rs 10.9 billion (61.20 percent) of Rs 17.9 billion allocated, and under capital expenditure, it spent Rs 12.7 billion (51.45 percent) of Rs 24.7 billion allocated.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Karnali Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of Rs 32.7 billion allocated for the province, Rs 14.9 billion (45.60 percent) has been spent. Under current expenditures, Rs 7.1 billion (53.64 percent) of Rs 13.8 billion set aside has been spent, and under capital expenditures, Rs 7.9 billion (40.25 percent) of Rs 19.6 billion spent.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Sudurpaschim Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of Rs 36.7 billion allocated for the province, Rs 17.8 billion (48.54 percent) has been spent. Under current expenditures, Rs 6.7 billion (55.32 percent) of Rs 12.2 billion allocated has been spent, and under capital expenditures, Rs 11.7 billion (45.71 percent) of Rs 24.2 billion set aside has been spent. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18138', 'image' => '20230709093914_20230628120055_1683767264.jpg', 'article_date' => '2023-07-09 21:37:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18407', 'article_category_id' => '1', 'title' => 'Women Entrepreneurs Play a Key Role in Driving the Economy: Stakeholders', 'sub_title' => '', 'summary' => 'July 9: Government officials have said that the role of women entrepreneurs is important to keep the country's economy afloat.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 9: Government officials have said that the role of women entrepreneurs is important to keep the country's economy afloat. Speaking at the 'Standard Chartered NewBiz Business Women Summit and Awards 2023' organized by New Business Age in Kathmandu on Friday, Finance Minister Dr Prakash Sharan Mahat said that women who have been handling the economy of the house are now going to be in a position of running the economy of the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He emphasized that women should take the lead in the future to stabilize the enterprises. According to Minister Mahat, there is no capital limit in the information technology sector and women can take advantage of this as there is a provision for starting a company at Rs 100. He said that the work done by women is important.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He also thanked the organizers for representing women engaged in various fields of enterprise. Women's empowerment has also been given priority in the budget and the government has announced to create a women's industrial village for the first time in Panchkhaal, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at the same event, Nepal Rastra Bank’s Governor Maha Prasad Adhikari said that the number of women entrepreneurs will increase encouragingly due to subsidized loans. He reminded that there is a program to give collateral-free loans of up to Rs 1.5 million to women for doing business and further added, “Three years ago, only 25,000 people took this loan. Now, more than 83,000 have taken loans of Rs 61 billion.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Governor Adhikari said that women entrepreneurs will play a major role in reducing the trade imbalance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"There is a good demand in the market for the products of women entrepreneurs," said Adhikari, "They can play a role in import substitution and export promotion by increasing production." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Citing the example of women in the leadership of large companies such as Daraz and Goldstar, he said that the participation of women in the modernization and innovation of Nepal is also great.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Adhikari informed that gender inclusion is increasing in the financial sector and for that, the NRB is conducting financial literacy programs. He also said that initiatives are being taken through the Ministry of Education to include the subject of financial literacy in the school curriculum. According to the governor, 49 per cent of men and 48 per cent of women have accounts in banks and financial institutions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that enterprise is important to advance the country's economy, Governor Adhikari said that in 2022, the gender imbalance has improved by 4 per cent worldwide. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“Gender imbalance should be gradually reduced in Nepal as well. We are doing it," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Anirwan Ghosh Dastidar, Chief Executive Officer (CEO) of Standard Chartered Bank Nepal Limited, said that modern Nepali women are a source of power.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Saying that his bank aims to support the youth and small businesses in the community, he said that he is happy to see that women are active in bringing about meaningful changes in the professional system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Modern Nepalese women are powerhouses, who are leaving their mark in all fields of politics, fashion, business, science, sports, art, " CEO Dastidar said adding, "What we believe in at Standard Chartered is to support the youth and small businesses in our community. It is an important step towards increasing participation in our market and promoting financial inclusion, which will bring meaningful change.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He also said that he was very proud to meet so many talented women entrepreneurs working to bring meaningful changes in the business system together under one roof.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sabita Subedi, director of New Business Age Pvt. Ltd., said at the event that the main objective of the awards is to encourage women entrepreneurs. Subedi said that the state must create a favourable environment for women entrepreneurs to increase their contribution to the country's economy.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18137', 'image' => '20230709041956_role.jpg', 'article_date' => '2023-07-09 16:19:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18406', 'article_category_id' => '1', 'title' => 'Discount on Russian Oil to India Shrinks from US$ 30 Per Barrel to US$ 4', 'sub_title' => '', 'summary' => 'July 9: India has been buying large quantities of crude oil from Russian ever since Russia’s invasion of Ukraine in February last year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Agencies</span></span></span></span></p> <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 9: India has been buying large quantities of crude oil from Russian ever since Russia’s invasion of Ukraine in February last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The concession on oil given to India by Russia has been reduced significantly at present. </span></span></span></span></p> <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"">Russia has been selling crude oil to India for less than $60 per barrel. This is lower than the price limit set by Western countries for Russian oil. But when bringing oil from the Baltic to India via the Black Sea, the delivery charge per barrel ranges from $11 to $19. Sources say that this is double the normal rate.</span></span></span></span></p> <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"">After Russia attacked Ukraine on February 24, 2022, European buyers and some buyers in Asia, including Japan, banned Russian oil. Russia then started selling oil to India and China at a massive discount. </span></span></span></span></p> <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"">Until the middle of last year, Russia used to give a discount of $30 per barrel to India. But recently it has been reduced to US$ 4 per barrel, according to sources.</span></span></span></span></p> <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"">Currently, India is the largest buyer of Russian oil. Due to increasing electrification of vehicles and economic slowdown, the demand for Russian crude oil in China has reached its peak and started to decrease. Before the Ukrainian war, the proportion of Russian oil in India's total crude oil imports was less than 2 percent. But recently, the share of Russian oil has increased to 44 percent.</span></span></span></span></p> <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 also said that the discount is shrinking because Indian oil companies are negotiating separately with Russian companies. Sources say that the discount could have been much higher if the state-owned oil companies had bargained collectively.</span></span></span></span></p> <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 is buying 2 million barrels of oil per day from Russia. Sixty percent of this oil is bought by government oil companies. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18136', 'image' => '20230709035706_gbo-india-likely-to-buy-russian-oil.jpg', 'article_date' => '2023-07-09 15:56:28', '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' => '18422', 'article_category_id' => '1', 'title' => '419 People Lose Lives to Lightning Strikes in Five Years', 'sub_title' => '', 'summary' => 'A total of 419 individuals have lost their lives due to lightning strikes over the past five years. Similarly, properties worth over Rs 60 million have been destroyed, according to the National Disaster Risk Reduction and Management Authority (NDRRMA).', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 11: A total of 419 individuals have lost their lives due to lightning strikes over the past five years. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, properties worth over Rs 60 million have been destroyed, according to the National Disaster Risk Reduction and Management Authority (NDRRMA).</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the provinces, Koshi Province recorded the highest number of fatalities, with 108 deaths caused by lightning strikes. Lumbini Province follows closely with 76 deaths, while Madhes Province witnessed 69 deaths. Bagmati Province reported 62 fatalities, Sudurpaschim Province had 43, Gandaki Province had 36, and Karnali Province experienced 25 deaths.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Three thousand one hundred and eighty seven domestic animals were killed in the disaster, and 57 physical infrastructures have been damaged, according to NDRRMA. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18152', 'image' => '20230711062447_collage (7).jpg', 'article_date' => '2023-07-11 06:22:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '18421', 'article_category_id' => '1', 'title' => 'Second Phase of Economic Reforms Commences, Says Minister Mahat', 'sub_title' => '', 'summary' => 'Finance Minister Dr. Prakash Sharan Mahat said that the second phase of economic reforms begins in the country with the implementation of the forthcoming fiscal year's budget.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt"> July 11: Finance Minister Dr. Prakash Sharan Mahat said that the second phase of economic reforms begins in the country with the implementation of the forthcoming fiscal year's budget. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Speaking to the media in Kathmandu on Monday, Minister Mahat expressed optimism about the nation's economic improvement and emphasized that the budget for the fiscal year 2023/24, along with accompanying plans and programs, will usher in positive momentum for the economy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">"The new budget is designed to steer the economy back on track, marking the beginning of the second phase of reforms. We must accelerate these reform efforts," Dr. Mahat stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The initial stage of economic reforms was initiated in the early 1980s with the introduction of economic liberalization and an open market in the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Additionally, the Finance Minister highlighted positive signs in the economy, such as an increase in foreign exchange reserves and advancements in the tourism industry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">He further anticipated a potential reduction in bank interest rates, citing the upcoming monetary policy to be issued by the Nepal Rastra Bank for the upcoming fiscal year. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-11', 'modified' => '2023-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '18151', 'image' => '20230711060454_collage (6).jpg', 'article_date' => '2023-07-11 06:03:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18418', 'article_category_id' => '1', 'title' => '178 People Killed in Road Accidents in Kathmandu Valley in 11 Months ', 'sub_title' => '', 'summary' => 'July 10: One hundred seventy eight people were killed in a total of 9,683 road accidents in the Kathmandu Valley (Kathmandu, Lalitpur and Bhaktapur districts) as of June 15, 2023 of the current fiscal year, 2022/23, according to the Kathmandu Valley Traffic Police Office. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: One hundred seventy eight people were killed in a total of 9,683 road accidents in the Kathmandu Valley (Kathmandu, Lalitpur and Bhaktapur districts) as of June 15, 2023 of the current fiscal year, 2022/23, according to the Kathmandu Valley Traffic Police Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 242 people were seriously injured, and 7,363 sustained minor injuries in those accidents in the valley. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ninety three of them died in motorcycle and scooter accidents while 56 victims were pedestrians. More than half of the deceased (35 men and 43 women) were of the 17-35 age group. Negligence of the drivers, over speeding, drink-driving, overtaking, bad weather and other technical problems have been blamed for the accidents. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18149', 'image' => '20230710093218_20220927120743_Kathmandu Valley.jpg', 'article_date' => '2023-07-10 21:31:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18420', 'article_category_id' => '1', 'title' => 'Earthquake jolts Sindhupalchok ', 'sub_title' => '', 'summary' => 'July 10: An earthquake measuring 3.8 on the Richter scale with its epicentre at Bahrabise of Sindhupalchok district was recorded at 12.47pm on Monday, according to the National Earthquake Monitoring and Research Center, Lainchaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: An earthquake measuring 3.8 on the Richter scale with its epicentre at Bahrabise of Sindhupalchok district was recorded at 12.47pm on Monday, according to the National Earthquake Monitoring and Research Center, Lainchaur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, an earthquake with magnitude 4 on the Richter scale with its epicentre near Bhalayakharka of Lamjung was recorded on June 23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earthquake tremors epicentred in places of the mountainous and hill regions of eastern and western parts of the country have become recurrent of late. The mountainous and hill region of Nepal is considered vulnerable to earthquakes. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18148', 'image' => '20230710094324_20221228113133_quake.jpg', 'article_date' => '2023-07-10 21:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18417', 'article_category_id' => '1', 'title' => 'Coca-Cola Empowers Young Women Entrepreneurs through Saksham Accelerator and Mentorship Program', 'sub_title' => '', 'summary' => 'July 10: Coca-Cola Nepal, in collaboration with Atelier Platform Pvt Ltd, announced the successful implementation of the Young Women Entrepreneurs Accelerator and Mentorship Program.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Coca-Cola Nepal, in collaboration with Atelier Platform Pvt Ltd, announced the successful implementation of the Young Women Entrepreneurs Accelerator and Mentorship Program.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent press statement, international soft drink brand said this program is a pivotal component of Coca-Cola Nepal's Women Empowerment Program, Saksham, and aims to provide comprehensive support and guidance to women startups and potential start-ups in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Coca-Cola, the Young Women Entrepreneurs Accelerator and Mentorship Program received an overwhelming response from enthusiastic women entrepreneurs from across Kathmandu, Pokhara, and Chitwan when the applications were opened in April 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Out of the impressive pool of applicants, eight exceptional finalists were carefully selected based on their innovative ideas and potential for success, adds the statements. The finalists were Brinda Dewan of Kehikrafts, Menuka Gurung of Duluwa Outdoors, Prakriti Basyal of South and Southeast Project, Rashi Maharjan of Learners Room: A path to wisdom, Rozina Baral of Search It, Sarala Maharjan of Bio-Enzymes, Shanti Rai of Greenspace Nepal and Yaju Maharjan of Swachha Mahinawari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To kick start the program, an orientation session was held on June 11, 2023, providing the finalists with valuable insights into the journey ahead, according to the company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Since then, a series of expert sessions have been organized to equip the participants with the necessary skills and knowledge to thrive in their entrepreneurial endeavors,” reads the statement, adding, “The finalists have had the privilege of attending sessions led by esteemed professionals and mentors, covering essential topics such as gender and women's rights, feminism and leadership, legal processes, climate change, marketing strategy, access to finance and banking, digital marketing, profitable presentation techniques, and design thinking.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Adarsh Avasthi, country director of Nepal for Coca Cola said that the program underscores the company’s unwavering dedication to fostering gender equality and empowering women in Nepal's dynamic entrepreneurial landscape.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“By offering comprehensive support and guidance to these aspiring young women entrepreneurs, we aim to create a sustainable ecosystem that not only propels their success but also contributes significantly to the overall development of Nepal's economy," the statement quoted Avasthi as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The statement added that the finalists have had the unique opportunity to engage with and learn from successful women entrepreneurs in Nepal throughout the program.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Esteemed guest speakers, including Prasanna Basnet (co-founder of Cotton Mill Nepal), Haushala Thapa Gurung (Haushala Creatives), Dr Manu Karki (Eco Sathi Nepal), and Sujata Shrestha (Ghaghar and M&S) shared their inspiring stories and insights, further motivating and empowering the young women on their entrepreneurial journeys.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Madhurima Bhadra, a gender, leadership and public health expert, says that there are limited opportunities for marginalized people, especially non-binary persons and sex workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I am so excited to be watching these young women already thinking about this special group of people and planning to provide opportunities for them in an all-inclusive environment," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement released by Coca-Cola, the finalists are now in the final stages of preparation for their ultimate pitch after weeks of intensive training and mentorship.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Their innovative ideas and business plans will be presented before a distinguished jury comprising three accomplished professionals in August, added the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, the top three participants will be awarded a cash prize of Rs 100,000 each, providing them with a significant boost to accelerate their ventures and to reach closer to their goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We are incredibly excited to witness the remarkable progress and determined enthusiasm displayed by the participants of the Young Women Entrepreneurs Accelerator and Mentorship Program. Our commitment to empowering women in Nepal drives us to continue training an additional 1000+ women through this program this year. Saksham, reinforces our belief in the potential and resilience of Nepalese women, and we look forward to accelerating more women’s entrepreneurial journey," says Deepak Senthil Nath, managing director of Bottlers Nepal that produces Coca-Cola in the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18147', 'image' => '20230710062915_Group Photo - Copy.jpg', 'article_date' => '2023-07-10 18:28:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18416', 'article_category_id' => '1', 'title' => 'Balance of Payments at a Surplus of Rs 228 Billion', 'sub_title' => '', 'summary' => 'July 10: The country’s Balance of Payments (BOP) remained at a surplus of Rs 228.98 billion in the first 11 months of the current fiscal year compared to a deficit of Rs 269.81 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px">July 10: The country’s Balance of Payments (BOP) remained at a surplus of Rs 228.98 billion in the first 11 months of the current fiscal year compared to a deficit of Rs 269.81 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">According to the Current Macroeconomic and Financial Situation Report published by the Nepal Rastra Bank on Monday, the BOP in terms of the US dollar remained at a surplus of 1.74 billion in the review period against a deficit of 2.26 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px">Likewise, the current account remained at a deficit of Rs 69.40 billion in the review period compared to a deficit of Rs 592.14 billion in the same period of the previous year.</span></p> <p><span style="font-size:18px"> In the US dollar terms, the current account registered a deficit of 536.1 million compared to a deficit of 4.93 billion in the same period last year.</span></p> <p><span style="font-size:18px">In the review period, capital transfer decreased 22.5 percent to Rs 7.35 billion and net foreign direct investment (FDI) recorded Rs 4.65 billion. In the same period of the previous year, capital transfer and net FDI amounted to Rs 9.49 billion and Rs 17.35 billion respectively.</span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18146', 'image' => '20230710061516_20230710030842_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-07-10 18:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18414', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Drops to 6.83 Percent: NRB Report', 'sub_title' => '', 'summary' => 'July 10: The year-on-year (y-o-y) consumer price inflation dropped to 6.83 percent in mid-June 2023 compared to 8.56 percent a year ago.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: The year-on-year (y-o-y) consumer price inflation dropped to 6.83 percent in mid-June 2023 compared to 8.56 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), the food and beverage inflation stood at 5.66 percent whereas non-food and service inflation rose to 7.76 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 35.29 percent, restaurant and hotel 14.36 percent, cereal grains and their products 13.06 percent, milk products and eggs 10.98 percent and tobacco products 8.49 percent while the y-o-y price index of ghee and oil sub-category decreased 16.60 percent, states the Current Macroeconomic and Financial Situation Report of the first 11 months of the current fiscal year published by NRB on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, the y-o-y price index of recreation and culture sub-category increased 15.75 percent, education 10.56 percent, miscellaneous goods and services 9.33 percent, housing and utilities 8.41 percent and furnishing and household equipment 7.83 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, consumer price inflation in the Kathmandu Valley, Terai, hill and mountain areas surged to 7.19 percent, 6.93 percent, 6.28 percent and 6.39 percent respectively. Inflation in these regions were 8.32 percent, 8.29 percent, 9.28 percent and 8.92 percent respectively a year ago, added the report.</span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18144', 'image' => '20230710030747_Inflation1.jpg', 'article_date' => '2023-07-10 15:07:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18413', 'article_category_id' => '1', 'title' => 'Trade Deficit Declines by 15 Percent', 'sub_title' => '', 'summary' => 'July 10: Nepal’s trade deficit decreased 15.2 percent to Rs 1337.39 billion during the eleven months of fiscal year 2022/23, according to the latest report of Nepal Rastra Bank (NRB). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Nepal’s trade deficit decreased 15.2 percent to Rs 1337.39 billion during the eleven months of fiscal year 2022/23, according to the latest report of Nepal Rastra Bank (NRB). Such a deficit had increased 25 percent in the corresponding period of the previous year, states the Current Macroeconomic and Financial Situation Report published by NRB on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio decreased to 9.7 percent in the review period from 10.5 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, merchandise imports from India by paying convertible foreign currency amounted Rs 138.47 billion. Such amount was Rs 200.88 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, the overall merchandise exports decreased 22.7 percent to Rs 143.59 billion against an increase of 53.3 percent in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India decreased 32.2 percent whereas exports to China and other countries increased 106.7 percent and 9.9 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Exports of zinc sheet, particle board, cardamom, woolen carpets, readymade garments, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eleven months of FY 2022/23, merchandise imports decreased by 16 percent to Rs 1480.98 billion against an increase of 27.5 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries decreased 14.8 percent, 17.1 percent and 18.5 percent respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of chemical fertilizer, sponge iron, gold, paper, other stationeries, among others, increased whereas imports of transport equipment and parts, MS billet, medicine, crude soybean oil, other machinery and parts, among others, decreased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18143', 'image' => '20230710030630_Trade.jpg', 'article_date' => '2023-07-10 15:05:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18412', 'article_category_id' => '1', 'title' => 'Nepal’s Foreign Exchange Reserves Increases to Rs 1480 Billion', 'sub_title' => 'Foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 11.2 months', 'summary' => 'July 10: Nepal’s gross foreign exchange reserves increased 21.8 percent to Rs 1480.87 billion in mid-June 2023 from Rs 1215.80 billion in mid-July 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 10: Nepal’s gross foreign exchange reserves increased 21.8 percent to Rs 1480.87 billion in mid-June 2023 from Rs 1215.80 billion in mid-July 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Current Macroeconomic and Financial Situation Report published by the Nepal Rastra Bank on Monday, the gross foreign exchange reserves in terms of the US dollar increased 18.5 percent to 11.30 billion in mid-June 2023 from 9.54 billion in mid-July 2022. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB increased 25.1 percent to Rs 1321.25 billion in mid-June 2023 from Rs 1056.39 billion in mid-July 2022, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank, the reserves held by banks and financial institutions (except NRB) increased 0.1 percent to Rs 159.63 billion in mid-June 2023 from Rs 159.41 billion in mid-July 2022. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The share of Indian currency in total reserves stood at 22.9 percent in mid-June 2023. Foreign </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the imports of eleven months of 2022/23, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 11.2 months and merchandise and services imports of 9.6 months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB report states that the ratio of reserves-to-GDP, reserves-to-imports and reserves-to-M2 stood at 27.5 percent, 80.3 percent and 25.0 percent respectively in mid-June 2023. Such ratios were 24.6 percent, 57.8 percent and 22.1 percent respectively in mid-July 2022.</span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18142', 'image' => '20230710020950_dollar.jpg', 'article_date' => '2023-07-10 14:09:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18411', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases by 22.7 Percent in Current Fiscal ', 'sub_title' => '', 'summary' => 'July 10: Nepal received remittance of Rs 1112.52 billion in the first eleven months of the current fiscal year, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: Nepal received remittance of Rs 1112.52 billion in the first eleven months of the current fiscal year, according to the latest report of Nepal Rastra Bank (NRB).</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"">Unveiling the Current Macroeconomic and Financial Situation Report based on the eleven months of the fiscal year 2022/23, the central bank said inflow of remittance increased by 22.7 percent to reach Rs 1112.52 billion in the review period compared to an increase of 4.1 percent in the same period of the previous year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the US dollar terms, remittance inflows increased 13.0 percent to 8.51 billion in the review period compared to an increase of 1.8 percent in the same period of the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the number of Nepali workers (institutional and individual) obtaining approval for foreign employment increased by 46.6 percent and reached 459,415 in the review period. The number of Nepali workers (renew entry) taking approval for foreign employment increased 0.5 percent to 260,262 in the review period. It had increased 208.3 percent in the same period of the previous year, the report stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the NRB report, net transfer increased by 21.9 percent to reach Rs 1229.82 billion during this period. Such a transfer had increased 3.8 percent in the same period of the previous year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18141', 'image' => '20230710012519_Remittance.jpg', 'article_date' => '2023-07-10 13:24:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18410', 'article_category_id' => '1', 'title' => 'Liberal Policy Vital for Economic Vibrancy: Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'July 10: Finance Minister Dr Prakash Sharan Mahat has underlined the need of a liberal monetary policy for the acceleration of economic activities. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: Finance Minister Dr Prakash Sharan Mahat has underlined the need of a liberal monetary policy for the acceleration of economic activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a discussion on "Nepal's economic situation and upcoming monetary policy," the finance minister said the economy would be vibrant if the issue of policy rate was addressed while formulating the monetary policy for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A liberal policy is capable of making the economy vibrant, according to the finance minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He took time to insist on the collaboration between the Finance Ministry and the Nepal Rastra Bank to promote the nation's economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Mahat said that the government wished the NRB to function independently and make efforts for the improvement of overall economy. </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"">“There should be coherence between the finance policy and monetary policy to operate the economy effectively,” he said.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the government's fiscal policy emphasized on improving the economy. </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"">"At the moment, capital flow is limited due to high cost, preventing the economy to catch its vibrancy. The government prioritizes fiscal discipline," he said adding that it had controlled the unnecessary budget transfer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> According to him, the government has set a target of achieving six percent economic growth in the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Economist Dr Dilliraj Khanal shared his view saying that the problem in the banking and financial sector would result in problems in the entire economy. "Although the economy is on the path to improvement, it is still in crisis. The liquidity has increased at present. However, the loans have not expanded," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the government brought an extension-oriented monetary policy for the post-Covid recovery, he said that was required but it could not produce the expected output later on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Economist Khanal said problems like investment in the unproductive sectors, limited big business houses using a large chunk of loans on concessional basis, cooperatives becoming problematic, among others are seen in the financial sector and these needed to be addressed. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18140', 'image' => '20230710121340_20230514062755_collage (17).jpg', 'article_date' => '2023-07-10 12:13:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18409', 'article_category_id' => '1', 'title' => 'KMC Fines Eatery for Selling Sub-Standard Food ', 'sub_title' => '', 'summary' => 'July 10: The Kathmandu Metropolitan City (KMC) has fined an eatery for selling sub-standard food products. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 10: The Kathmandu Metropolitan City (KMC) has fined an eatery for selling sub-standard food products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Akash Foods, a shop in Lazimpat in the city, was fined Rs 150,000 for selling rotten sweets, said Monitoring Officer of KMC Balram Tripathi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Tripathi, the owner of the sweets house, Ankur Agrawal, has been directed to pay the penalty amount at the bank account of KMC within a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the wrongdoer would be fined additional amount if he failed to deposit the penalty amount in the given timeline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the KMC fined an individual from KMC-6 in Bauddha for mixing the septic tank into the drainage system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC said that Gokul Bahadur Budhathoki was slapped Rs 50,000 in fine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the recent time, the KMC has upped its monitoring job to keep the city and its heritages neat and clean. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-10', 'modified' => '2023-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '18139', 'image' => '20230710111858_KMC.jpg', 'article_date' => '2023-07-10 11:18:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18408', 'article_category_id' => '1', 'title' => 'Provinces Fare Worse in Budget Expenditure, Spend only 49 Percent of Total Budget in Current FY', 'sub_title' => '', 'summary' => 'July 9: The provinces have spent only half of their budget till June 15 of the current Fiscal Year 2022/23. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 9: The provinces have spent only half of their budget till June 15 of the current Fiscal Year 2022/23. Of the total budget of Rs 306 billion that the provinces passed for the current fiscal year, they have spent only Rs 151.3 billion as of June 15, which accounts for 49.45 percent of the total annual allocations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As per the data on budget expenditure by provinces shared by the Office of the Comptroller General, Koshi Province's expenditure is the highest (61.41 percent) and the Madhes Province's is the lowest (36.25 percent) in the first 11 months of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">During the review period, Bagmati Province's budget expenditure stood at 50.62 percent, Gandaki Province's at 48.19 percent, Lumbini Province's at 55.54 percent, Karnali Province's at 45.60 percent and Sudurpaschim Province's at 48.54 percent. The average expenditure towards the recurrent expenditure was 55.68 percent and 46.11 percent towards capital expenditure during this period.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Koshi Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Koshi Province had brought a total budget of Rs 39.91 billion for the current fiscal year and its expenditure till June 15 was Rs 24.51 billion. This province spent Rs 11.65 (70 percent) out of the total allocation of Rs 16.62 billion towards current expenditure and Rs 12.86 billion ( 55 percent) out of the total allocations of Rs 23.29 billion towards capital expenditure.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Madhesh Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The budget expenditure of Madhesh Province was the lowest as compared to the rest of the provinces. The province had brought a budget of Rs 46.98 billion for the current fiscal year and it spent only Rs 17 billion until June 15. The budget expenditure was 36.25 percent of the total annual budget allocations.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Madhesh Province spent 33 percent for recurrent expenses and 38.34 percent under the heading of capital expenditure in the first 11 months of the current fiscal year. Out of the Rs 20.8 billion set aside for recurrent expenditure, the province spent Rs 6 billion 996 million 700 thousand. Similarly, out of the Rs 26.18 billion allocated for capital expenditure, the province spent Rs 10 billion or 38 percent of the allocation.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province had brought a budget of Rs 70 billion 939 million 200 thousand for the current fiscal year and it spent Rs 35.91 billion or 50.62 percent of the total budget till June 15. The budget expenditure of this province under the current expenditure heading was 61.61 percent while it was 46 percent under capital expenditure heading and 30 percent under fiscal management heading during this period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The province had allocated Rs 26.84 billion for current expenditure and it spent Rs 16.53 billion. Similarly, out of the Rs 42 billion 90 million allocated for capital expenditure, it spent Rs 19.37 billion. Rs 2 billion was allocated for fiscal management and the expenditure under this heading was Rs 600 million.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Gandaki Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of over Rs 35.9 billion set aside for the province in the current FY, Rs 17.3 billion has been spent as of June 15 which is 48 percent of the allocated budget. Under current expenditures, Rs 6.9 billion (54 percent) of over Rs 12.8 billion set aside has been spent, and under capital expenditures, Rs 10.3 billion (45.82 percent) of more than Rs 22.5 billion allocated.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Lumbini Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The province spent Rs 23.7 billion of the total Rs 42.7 billion allocated for the province. The figure was 55.54 percent. Under current expenditures, it spent Rs 10.9 billion (61.20 percent) of Rs 17.9 billion allocated, and under capital expenditure, it spent Rs 12.7 billion (51.45 percent) of Rs 24.7 billion allocated.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Karnali Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of Rs 32.7 billion allocated for the province, Rs 14.9 billion (45.60 percent) has been spent. Under current expenditures, Rs 7.1 billion (53.64 percent) of Rs 13.8 billion set aside has been spent, and under capital expenditures, Rs 7.9 billion (40.25 percent) of Rs 19.6 billion spent.</span></span></span></p> <p><strong><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Sudurpaschim Province</span></span></span></strong></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Out of Rs 36.7 billion allocated for the province, Rs 17.8 billion (48.54 percent) has been spent. Under current expenditures, Rs 6.7 billion (55.32 percent) of Rs 12.2 billion allocated has been spent, and under capital expenditures, Rs 11.7 billion (45.71 percent) of Rs 24.2 billion set aside has been spent. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18138', 'image' => '20230709093914_20230628120055_1683767264.jpg', 'article_date' => '2023-07-09 21:37:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18407', 'article_category_id' => '1', 'title' => 'Women Entrepreneurs Play a Key Role in Driving the Economy: Stakeholders', 'sub_title' => '', 'summary' => 'July 9: Government officials have said that the role of women entrepreneurs is important to keep the country's economy afloat.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">July 9: Government officials have said that the role of women entrepreneurs is important to keep the country's economy afloat. Speaking at the 'Standard Chartered NewBiz Business Women Summit and Awards 2023' organized by New Business Age in Kathmandu on Friday, Finance Minister Dr Prakash Sharan Mahat said that women who have been handling the economy of the house are now going to be in a position of running the economy of the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He emphasized that women should take the lead in the future to stabilize the enterprises. According to Minister Mahat, there is no capital limit in the information technology sector and women can take advantage of this as there is a provision for starting a company at Rs 100. He said that the work done by women is important.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He also thanked the organizers for representing women engaged in various fields of enterprise. Women's empowerment has also been given priority in the budget and the government has announced to create a women's industrial village for the first time in Panchkhaal, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at the same event, Nepal Rastra Bank’s Governor Maha Prasad Adhikari said that the number of women entrepreneurs will increase encouragingly due to subsidized loans. He reminded that there is a program to give collateral-free loans of up to Rs 1.5 million to women for doing business and further added, “Three years ago, only 25,000 people took this loan. Now, more than 83,000 have taken loans of Rs 61 billion.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Governor Adhikari said that women entrepreneurs will play a major role in reducing the trade imbalance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"There is a good demand in the market for the products of women entrepreneurs," said Adhikari, "They can play a role in import substitution and export promotion by increasing production." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Citing the example of women in the leadership of large companies such as Daraz and Goldstar, he said that the participation of women in the modernization and innovation of Nepal is also great.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Adhikari informed that gender inclusion is increasing in the financial sector and for that, the NRB is conducting financial literacy programs. He also said that initiatives are being taken through the Ministry of Education to include the subject of financial literacy in the school curriculum. According to the governor, 49 per cent of men and 48 per cent of women have accounts in banks and financial institutions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that enterprise is important to advance the country's economy, Governor Adhikari said that in 2022, the gender imbalance has improved by 4 per cent worldwide. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“Gender imbalance should be gradually reduced in Nepal as well. We are doing it," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Anirwan Ghosh Dastidar, Chief Executive Officer (CEO) of Standard Chartered Bank Nepal Limited, said that modern Nepali women are a source of power.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Saying that his bank aims to support the youth and small businesses in the community, he said that he is happy to see that women are active in bringing about meaningful changes in the professional system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Modern Nepalese women are powerhouses, who are leaving their mark in all fields of politics, fashion, business, science, sports, art, " CEO Dastidar said adding, "What we believe in at Standard Chartered is to support the youth and small businesses in our community. It is an important step towards increasing participation in our market and promoting financial inclusion, which will bring meaningful change.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He also said that he was very proud to meet so many talented women entrepreneurs working to bring meaningful changes in the business system together under one roof.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sabita Subedi, director of New Business Age Pvt. Ltd., said at the event that the main objective of the awards is to encourage women entrepreneurs. Subedi said that the state must create a favourable environment for women entrepreneurs to increase their contribution to the country's economy.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18137', 'image' => '20230709041956_role.jpg', 'article_date' => '2023-07-09 16:19:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18406', 'article_category_id' => '1', 'title' => 'Discount on Russian Oil to India Shrinks from US$ 30 Per Barrel to US$ 4', 'sub_title' => '', 'summary' => 'July 9: India has been buying large quantities of crude oil from Russian ever since Russia’s invasion of Ukraine in February last year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Agencies</span></span></span></span></p> <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 9: India has been buying large quantities of crude oil from Russian ever since Russia’s invasion of Ukraine in February last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The concession on oil given to India by Russia has been reduced significantly at present. </span></span></span></span></p> <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"">Russia has been selling crude oil to India for less than $60 per barrel. This is lower than the price limit set by Western countries for Russian oil. But when bringing oil from the Baltic to India via the Black Sea, the delivery charge per barrel ranges from $11 to $19. Sources say that this is double the normal rate.</span></span></span></span></p> <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"">After Russia attacked Ukraine on February 24, 2022, European buyers and some buyers in Asia, including Japan, banned Russian oil. Russia then started selling oil to India and China at a massive discount. </span></span></span></span></p> <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"">Until the middle of last year, Russia used to give a discount of $30 per barrel to India. But recently it has been reduced to US$ 4 per barrel, according to sources.</span></span></span></span></p> <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"">Currently, India is the largest buyer of Russian oil. Due to increasing electrification of vehicles and economic slowdown, the demand for Russian crude oil in China has reached its peak and started to decrease. Before the Ukrainian war, the proportion of Russian oil in India's total crude oil imports was less than 2 percent. But recently, the share of Russian oil has increased to 44 percent.</span></span></span></span></p> <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 also said that the discount is shrinking because Indian oil companies are negotiating separately with Russian companies. Sources say that the discount could have been much higher if the state-owned oil companies had bargained collectively.</span></span></span></span></p> <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 is buying 2 million barrels of oil per day from Russia. Sixty percent of this oil is bought by government oil companies. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-09', 'modified' => '2023-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '18136', 'image' => '20230709035706_gbo-india-likely-to-buy-russian-oil.jpg', 'article_date' => '2023-07-09 15:56:28', '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
