KATHMANDU: Floods and landslides caused by continuous rains have damaged physical structures nationwide, blocking several roads in Lamjung, Dang, Chitwan, Baglung, Parbat, and Udayapur…
KATHMANDU: Floods and landslides caused by continuous rains have damaged physical structures nationwide, blocking several roads in Lamjung, Dang, Chitwan, Baglung, Parbat, and Udayapur…
BHAIRAHAWA: An aircraft of Buddha Air with 59 people on board skidded off the runway at the Gautam Buddha Airport while landing last night. …
KATHMANDU: Prime Minister Pushpa Kamal Dahal is seeking a vote of confidence for his government in the lower house of the Federal Parliament…
KATHMANDU: The Executive Board of the International Monetary Fund (IMF) has granted Nepal Special Drawing Rights (SDF) of 31.4 million (about US$ 41.3 million) under the four year Extended Credit Facility (ECF) upon completing the fourth review of the ECF…
CHITWAN: Two buses carrying dozens of passengers went missing early this morning (Friday) in the Trishuli River following landslides in the Simaltal area along the Narayanghat-Mugling road section in Chitwan…
KATHMANDU: The Nepal Police has urged everyone to embark on long journeys only after confirming the road conditions, as highways are obstructed in various parts of the country due to ongoing monsoon…
KATHMANDU: Men and women in the entertainment sector are being forced to endure sexual exploitation, forced labour, and violence, according to a police…
The last trading day of the week saw a 1.31% increase on the NEPSE, closing at 2204.61 points on Thursday. The NEPSE index surpassed 2,200 points for the first time in nearly a…
KATHMANDU: The victims of cooperatives said that the police did not file their complaints against the operators of the problematic cooperatives who failed to return their…
KATHMANDU: The deadline for payment of dues to the dairy farmers by industrialists expires today, Thursday.…
KATHMANDU: Reliance Spinning Mills Limited has halted its Initial Public Offering (IPO), which was set to be issued today, July…
SOLUKHUMBU: A total of 55,979 tourists visited the Khumbu region in the first 11 months of the current fiscal year, according to the information provided by the Sagarmatha National Park, which houses the world’s highest peak – Mt…
KATHMANDU: Remittance inflow to Nepal in the first eleven months of the current fiscal year has reached Rs 1327.51 billion, according to the latest report of Nepal Rastra Bank…
KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal…
KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.17 percent in mid-June compared to 6.83 percent in the corresponding period of last fiscal year, according to the latest report of Nepal Rastra Bank…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21518', 'article_category_id' => '1', 'title' => 'Floods Cause Extensive Damage, Blocking Various Highways across the Country', 'sub_title' => '', 'summary' => 'KATHMANDU: Floods and landslides caused by continuous rains have damaged physical structures nationwide, blocking several roads in Lamjung, Dang, Chitwan, Baglung, Parbat, and Udayapur districts.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Floods and landslides caused by continuous rains have damaged physical structures nationwide, blocking several roads in Lamjung, Dang, Chitwan, Baglung, Parbat, and Udayapur districts. The blockages have halted vehicle movement, stranding travelers on the roads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Narayangadh-Muglin Road Blocked by Landslide</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Narayangadh-Muglin road is blocked due to landslides at Jholungu Bridge and Simaltal in Bharatpur Metropolitan City-29, according to the District Police Office, Chitwan. Efforts are underway in coordination with the road division to clear the landslide and resume vehicle movement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prithvi Highway Operates One-Way</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Prithvi Highway has reopened for one-way traffic following a landslide near Ichchakamana Rural Municipality-3, Mauvakhola. Police Inspector Nirla Bhandari of the Area Police Office, Muglin, informed that continuous rain is causing frequent landslides. It will take additional time to fully open the road for two-way traffic. Meanwhile, local authorities have advised avoiding travel on this road except for essential purposes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Maldhunga-Beni Road Blocked</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Maldhunga-Beni road in Parbat is blocked under the Kaligandaki Corridor, which connects Myagdi and Mustang with the national highway. Heavy rain on Wednesday night caused landslides at three locations on the 13 km stretch from Maldhunga to Beni. A rockslide obstructed the road in Kushma Municipality-1, and another blockage occurred in Phanphane of Jaljala village.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Landslides Destroy Six Houses in Parbat</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Six houses have been buried in landslides in Parbat's Modi Rural Municipality-2, Deupur, according to the District Police Office, Parbat. The landslides have displaced 15 families, while 9 families are at risk. The landslides began Wednesday afternoon, also burying a house in Pakuwa, Kushma Municipality-11.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gaighat-Diktel Road Blocked</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Gaighat-Diktel road is blocked due to a landslide on Ratmate Hill in Triyuga Municipality-14, Udayapur. The road has been blocked since Wednesday afternoon. Efforts are being made to facilitate emergency vehicles, including ambulances. The District Administration Office, Triyuga Municipality, and Gaighat-Diktel Road Office are working together to address the issue.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mid-Hill Highway Closure</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Baglung section of the mid-hill Pushpalal Highway is blocked due to landslides. Superintendent of Police Rishiram Kandel of the District Police Office, Baglung, reported that the highway is closed at Bayaldanda, Kathekhola Rural Municipality-6.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Besishahar-Chame Road Closed</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Besishahar-Chame road, connecting Lamjung and Manang, has been closed for 10 days. A flood swept away the concrete bridge of Timangkhola in Chame Rural Municipality-1, Manang, halting vehicle operations on that road. A culvert had been installed after a flood in June 2078 destroyed the vital bridge, and a new motorized concrete bridge was constructed two years ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Damage in Dang</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ghorahi-Tulsipur road is also blocked due to floods. The road was closed after the diversion in the Ghorahi-Tulsipur section, where an under-construction bridge was swept away by the flood.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21244', 'image' => '20240712113153_HLG_MUGLIN_PAHIRO.jpg', 'article_date' => '2024-07-12 11:31:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21516', 'article_category_id' => '1', 'title' => 'Buddha Air Plane Skids off Runway at Gautam Buddha Int’l Airport ', 'sub_title' => '', 'summary' => 'BHAIRAHAWA: An aircraft of Buddha Air with 59 people on board skidded off the runway at the Gautam Buddha Airport while landing last night. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BHAIRAHAWA: An aircraft of Buddha Air with 59 people on board skidded off the runway at the Gautam Buddha Airport while landing last night. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, the incident occurred at 9:30 pm on Thursday as the plane landed from the east to the west of the airport.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the District Police Office, Rupandehi, Manohar Prasad Bhatta, said that all passengers were evacuated safely from the plane which got stuck in the mud.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The plane had 59 people on board including four crew members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police Bhatta said that the Gautam Buddha Airport is closed now as the plane is on the runway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of technicians from Buddha Air has been dispatched to the airport from Kathmandu to shift the aircraft from the runway. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21243', 'image' => '20240712110409_buddha-air.jpg', 'article_date' => '2024-07-12 11:03:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21517', 'article_category_id' => '1', 'title' => 'PM Dahal Seeking Vote of Confidence for the Fifth Time ', 'sub_title' => '', 'summary' => 'KATHMANDU: Prime Minister Pushpa Kamal Dahal is seeking a vote of confidence for his government in the lower house of the Federal Parliament today.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Prime Minister Pushpa Kamal Dahal is seeking a vote of confidence for his government in the lower house of the Federal Parliament today.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The House of Representatives meeting is scheduled for 11:00 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Dahal, who is also the Chairman of the CPN (Maoist Centre), is seeking a vote of confidence for the fifth time in the House of Representatives in 18 months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lately, he is taking a vote of confidence in accordance with Article 100 (2) of the Constitution of Nepal after the CPN (UML) pulled out of the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The largest party in the HoR, the Nepali Congress, and the second largest party the CPN (UML) on July 1 forged an alliance and decided to form a new government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21242', 'image' => '20240712111209_20230924084614_PRO-Beijing-PMPrachandb.jpg', 'article_date' => '2024-07-12 11:11:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21515', 'article_category_id' => '1', 'title' => 'IMF to Provide USD 41.3 Million to Nepal under Extended Credit Facility', 'sub_title' => '', 'summary' => 'KATHMANDU: The Executive Board of the International Monetary Fund (IMF) has granted Nepal Special Drawing Rights (SDF) of 31.4 million (about US$ 41.3 million) under the four year Extended Credit Facility (ECF) upon completing the fourth review of the ECF recently.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Executive Board of the International Monetary Fund (IMF) has granted Nepal Special Drawing Rights (SDF) of 31.4 million (about US$ 41.3 million) under the four year Extended Credit Facility (ECF) upon completing the fourth review of the ECF recently.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This brings total disbursements under the ECF for budget support so far to SDR 188.3 million (about US$ 247.7 million), the IMF said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF Executive Board had approved the ECF arrangement for Nepal on January 12, 2022 for SDR 282.42 million (180 percent of quota or about US$ 371.6 million).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before disbursing each tranche of the extended credit facility, the IMF reviews previous commitments. For this review, the Deputy Division Chief and Resident Chief for Nepal under the Asia Pacific Division of the IMF, Tidiane Kinda, led a delegation to Nepal in late May. During their visit, the IMF delegation met with Finance Minister Barshman Pun and assured that the remaining amount under the ECF would be disbursed soon.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF has been providing financial assistance to various countries through the ECF Fund to support structural and policy reforms, medium-term balance of payments, internal revenue mobilization, public investment management, and financial risk reduction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been utilizing the ECF funds as budgetary aid.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF noted that Nepal has made good progress with implementation of the program, which has helped mitigate the impact of the pandemic and global shocks on economic activity, protect vulnerable groups, and preserve macroeconomic and financial stability. The program is also helping to catalyze additional financing from Nepal’s development partners, the IMF said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF, however, warned that the economy continues to face challenges as growth, projected around 3 percent in FY2023/24, remains below potential in the context of subdued domestic demand and post pandemic balance sheet repairs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic activity is expected to pick up with growth reaching 4.9 percent in FY2024/25, supported by stronger domestic demand. The cautiously accommodative monetary policy stance, planned increase in capital expenditure in the FY2024/25 budget, additional hydropower generation, and a continued increase in tourist arrivals are expected to boost domestic demand and growth,” reads the statement issued by IMF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the IMF, inflation is expected to remain within the Nepal Rastra Bank’s (NRB) target ceiling of 5.5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF statement further said that domestic risks dominate the outlook. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Failure to raise the execution rate of capital projects would deprive the economy of much-needed stimulus and weigh on growth.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another factor that the IMF pointed out could disrupt policy continuity and reform implementation is fragile political stability. Intensification of financial sector vulnerabilities such as a further rise in NPLs or more failures of cooperative lenders could endanger banking system soundness, the statement added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Externally, high commodity prices could slow the recovery in energy-intensive sectors, the IMF said, adding that Nepal remains vulnerable to natural disasters.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21241', 'image' => '20240712102754_1617265057.imf.jpg', 'article_date' => '2024-07-12 10:27:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21514', 'article_category_id' => '1', 'title' => 'Two Buses with Dozens of Passengers Missing in Trishuli River', 'sub_title' => '', 'summary' => 'CHITWAN: Two buses carrying dozens of passengers went missing early this morning (Friday) in the Trishuli River following landslides in the Simaltal area along the Narayanghat-Mugling road section in Chitwan district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">CHITWAN: Two buses carrying dozens of passengers went missing early this morning (Friday) in the Trishuli River following landslides in the Simaltal area along the Narayanghat-Mugling road section in Chitwan district, officials confirmed. The buses were carrying a total of 65 passengers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Indra Dev Yadav, Chief District Officer of Chitwan, confirmed that the two vehicles fell into the river at around 3:30 AM due to landslide. According to Yadav, one bus operated by Ganapati Deluxe, heading to Gaur of Rautahat from Kathmandu, had 41 passengers on board. The second bus, traveling to Kathmandu from Birgunj, was carrying 24 passengers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rescue workers have sttarted efforts to clear the landslides, Yadav reported. Further details of the accident are awaited. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21240', 'image' => '20240712110443_f61e6067.jpeg', 'article_date' => '2024-07-12 09:30:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21513', 'article_category_id' => '1', 'title' => 'Police Advisory for Travel: Check Road Conditions Before Departure', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Police has urged everyone to embark on long journeys only after confirming the road conditions, as highways are obstructed in various parts of the country due to ongoing monsoon rains.', 'content' => '<h3><span style="font-size:18px"><strong>KATHMANDU</strong>: The Nepal Police has urged everyone to embark on long journeys only after confirming the road conditions, as highways are obstructed in various parts of the country due to ongoing monsoon rains.</span></h3> <p><span style="font-size:18px">Central Police spokesperson and Deputy Inspector General of Police Dan Bahadur Karki advised the public to travel only after checking road conditions to avoid being stranded mid-way.</span></p> <p><span style="font-size:18px">According to the police, several roads remain non-operational, obstructed, and damaged by floods and landslides triggered by relentless monsoon rains in various locations.</span></p> <p><span style="font-size:18px">The police have emphasized the importance of taking special precautions, as further obstructions are likely with continuing rainfall.</span></p> <p><span style="font-size:18px">Nepal Police has provided the following contact numbers for information on highway conditions: 100 (general police), 103 (traffic police), 104 (Children at Risk Coordination Centre), and 1113 (police complaints).</span></p> <p><span style="font-size:18px">Additionally, the National Disaster Risk Reduction and Management Authority (NDRRMA) has appealed to everyone to take special precautions in light of the Department of Hydrology and Meteorology's public notice, which forecasts cloudy weather and rainfall in many areas for the next three days. -- RSS</span></p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => 'monsoon, rain, road, travel, advisory, police', 'description' => '', 'sortorder' => '21239', 'image' => '20240712091120_20240711095901_KuldeepNeupane_Dang_RSS_22_20240706_115817.jpg', 'article_date' => '2024-07-12 09:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21512', 'article_category_id' => '1', 'title' => 'People in Entertainment Sector Facing Sexual Exploitation and Forced Labour: Police', 'sub_title' => '', 'summary' => 'KATHMANDU: Men and women in the entertainment sector are being forced to endure sexual exploitation, forced labour, and violence, according to a police investigation.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Men and women in the entertainment sector are being forced to endure sexual exploitation, forced labour, and violence, according to a police investigation.</span></p> <p><span style="font-size:18px">The Human Trafficking and Investigation Bureau of the Nepal Police has arrested 19 people this fiscal year for involvement in prostitution.</span></p> <p><span style="font-size:18px">Eight men and eleven women were arrested from dance bars, restaurants, and guest houses in various parts of Kathmandu, including Ratopool, Gongabu, Thamel, Gaushala, Lalitpur, Chabahil, Jadibuti, Shivachowk, Jorpati, Machhapokhari, Mitrapark, and Narayantar, stated Deputy Superintendent of Police Birendra Godar.</span></p> <p><span style="font-size:18px">These details were shared in a program organized by the Bureau in coordination with Anahat Nepal, an organization dedicated to women's empowerment and violence reduction.</span></p> <p><span style="font-size:18px">According to Bureau statistics, 59 people—15 men and 44 women—were found to be victims of domestic trafficking and prostitution. In the last three years, a total of 521 people have been arrested for human trafficking.</span></p> <p><span style="font-size:18px">Deputy Superintendent Birendra Godar reported that investigations revealed girls are mainly trafficked from rural to urban areas with false promises of employment, only to be forced into the sex trade and subjected to various forms of exploitation.</span></p> <p><span style="font-size:18px">Human trafficking is one of the three largest organized crimes globally. Program Manager of Anahat Nepal, Sanjay Dhakal, noted that girls are often lured to commercial centers with various temptations and then coerced into prostitution.</span></p> <p><span style="font-size:18px">Most victims of domestic trafficking are girls aged 13-17.</span></p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21238', 'image' => '20240712084303_20240711093209_Untitled.jpg', 'article_date' => '2024-07-12 08:41:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21508', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses 2,200 Points; Turnover Stands at 7.8 Billion ', 'sub_title' => '', 'summary' => 'The last trading day of the week saw a 1.31% increase on the NEPSE, closing at 2204.61 points on Thursday. The NEPSE index surpassed 2,200 points for the first time in nearly a year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 11: The last trading day of the week saw a 1.31% increase on the NEPSE, closing at 2204.61 points on Thursday. The NEPSE index surpassed 2,200 points for the first time in nearly a year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Previously, the NEPSE index closed at 2,250.50 points on July 24, 2023. Despite surpassing the 2,200 mark in intraday trading, it had not closed above that level.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Overall, investors are optimistic about the market. Trading volumes are increasing, and this influx of new investors can be expected to continue. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Particularly, the announcement of a coalition government between the Nepali Congress and the CPN UML has had a positive impact on stock market sentiment. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, the central bank is expected to implement monetary policies aimed at stimulating the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 331 scrips were traded through 87,086 transactions. A total of 20,237,780 units of shares were exchanged, resulting in a total turnover of Rs 7.8 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">CEDB Hydropower Development Company Limited (CHDC) led the turnover with a total transaction value of Rs 15 crore. Balephi Hydropower Limited (BHL) saw the highest gain of 9.99%, closing at a market price of Rs 421.50 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the contrary, Samaj Laghubitta Bittiya Sanstha Limited (SAMAJ) faced the maximum loss of 4.59%, closing at a market price of Rs 2932 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector performance, all sector indices closed in the red except for the Microfinance Index and Trading Index. The Banking Index gained the highest at 3.06%, while the Microfinance Index lost 0.53%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21234', 'image' => '20240711035754_collage (64).jpg', 'article_date' => '2024-07-11 15:56:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21507', 'article_category_id' => '1', 'title' => 'Victims of Cooperatives Say Police Refused to File their Complaints', 'sub_title' => '', 'summary' => 'KATHMANDU: The victims of cooperatives said that the police did not file their complaints against the operators of the problematic cooperatives who failed to return their deposits.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The victims of cooperatives said that the police did not file their complaints against the operators of the problematic cooperatives who failed to return their deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at an interaction organized by the Parliamentary Special Investigation Committee on Misuse of Cooperative Savings on Wednesday, the victims alleged that directors of fraudulent cooperatives managed to escape because the police failed to file and investigate complaints on time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kiran Shrestha, a victim of Suryadarshan Cooperative in Pokhara, complained that after the cooperative failed to return his savings, he repeatedly approached the police, but they did not file his complaint. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A report prepared by the Pokhara Metropolitan City indicates that Suryadarshan Cooperative invested loans in the Gorkha Media Network. The victims allege that the police avoided investigating due to the involvement of influential people in the cooperative's misconduct. "Regardless of who the home minister or police chief is, there should be an investigation. If the person is guilty, their movable assets and bank accounts should be frozen to recover the money," Shrestha said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">GB Rai, chairman of Gorkha Media Network, is accused of misusing funds from Swarnalakshmi Savings and Credit Cooperative in Kathmandu, Sahara Cooperative in Chitwan, Sano Paila Cooperative in Birgunj, Suryadarshan Cooperative in Pokhara, Supreme Savings and Credit Cooperative in Butwal, and Samana Savings and Credit Cooperative in Nepalgunj. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Lamichhane, Chairman of Rastriya Swatantra Party (RSP) and incumbent Home Minister, was the Managing Director of Gorkha Media Network at the time. The parliamentary committee was formed following allegations of Lamichhane's involvement in the misappropriation of cooperative savings. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dinesh Ghimire, a victim of Yamuna Idol, a multi-purpose cooperative, reported that after being ignored by the Department of Cooperatives, he approached the police but did not receive justice there either. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The cooperative owners were given a year to return the savings, allowing them to escape and transfer their land," he said. "The money of the depositors will not be returned unless the owners’ assets are auctioned to return the savings," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dil Bahadur Karki, a victim of Baglung-based Image Savings and Credit Cooperative, also emphasized that the depositors’ money could be returned from the cooperative owner’s property. "The assets of the cooperative's chairman, Dev Kumar Nepali, exceed Rs 2 billion, while the embezzlement by the cooperative amounts to Rs 2.35 billion," he stated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Khagendra KC, a victim of Kantipur Saving Cooperative, pointed out that the cooperative's land is mortgaged to the bank, and when the bank auctions it, there is a risk that the depisotors will not get their savings back.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During the parliamentary committee meeting on Friday, Inspector General of Nepal Police Basanta Bahadur Kunwar explained that directors of cooperatives took loans by mortgaging property acquired from the depositors in banks. When the banks auctioned these properties at low prices, it put the cooperatives’ savings at risk.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, in the committee meeting on Monday, Nepal Rastra Bank’s Governor Maha Prasad Adhikari proposed forming a 'dedicated' group to solve the problem, suggesting that the cooperative issues could be addressed using methods similar to those adopted for troubled banks.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21233', 'image' => '20240711020757_cooperative problem.jpeg', 'article_date' => '2024-07-11 14:07:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21506', 'article_category_id' => '1', 'title' => 'Deadline for Payments to Dairy Farmers Expires Today with No Payments Made Yet', 'sub_title' => '', 'summary' => 'KATHMANDU: The deadline for payment of dues to the dairy farmers by industrialists expires today, Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The deadline for payment of dues to the dairy farmers by industrialists expires today, Thursday. The government, the farmers and the industrialists had reached an agreement on June 30 to settle arrears up to mid-April by July 11. Despite this, industrialists have not made the payments, even as the deadline approaches.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kishore Bagale, chairman of the Chitwan District Milk Producers' Cooperative Association, expressed frustration, stating that the government and industrialists often agree with farmers but fail to honor these agreements. He noted that none of the farmers in Chitwan have received their payments. Farmers in Chitwan are yet to receive Rs 720 million from various dairy industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bagale pointed out the irony that agreements witnessed by the Ministry of Agriculture have not been implemented. He emphasized that if the government-owned Dairy Development Corporation (DDC) had made payments to the farmers, it would have pressured private dairies to follow suit. Unfortunately, the DDC did not make the payments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"There's no point in expecting payments from the private sector," he remarked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Previously, the three parties agreed to pay farmers on 12 December , 2023 and 2 March , 2024. When these agreements were not implemented, a third agreement was reached on June 30. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dairy farmers staged a street protest in Kathmandu a few days ago demanding payment. The government cracked down on the protest. The latest agreement set a deadline for the dairy industry to pay farmers by July 11 for arrears up to mid-April. Additionally, arrears for mid-April to mid-June must be paid by mid-September. The agreement also stipulated that the dairy industry must pay for milk purchases in two installments each month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Thaneshwar Sapkota, chairman of the Central Milk Producers Cooperative Association, stated that despite the agreement to pay arrears by July 11, farmers have not received any payments. He lamented that farmers have been cheated once again.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Farmers are yet to receive about Rs 4 billion from the DDC and private dairy industries, with DDC alone owing around Rs 2 billion. Among private dairies, Sujal Dairy, Rajdhani Dairy, Gayatri Dairy, and Tulsa Dairy owe the most to the farmers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A farmer on condition of anonymity reported that some dairies have not paid and even threatened farmers with a "milk holiday" if they demanded payment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajkumar Dahal, president of Rajdhani Dairy, denied these allegations, claiming that Rajdhani Dairy owes only about Rs 4-5 million out of a total of Rs 40 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We have already paid most of them. Farmers from whom we have not bought milk have made allegations against us. We are paying the amount we owe to farmers," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajendra Prasad Mishra, secretary of the Ministry of Agriculture and Livestock Development, assured that payments would be made as soon as possible, even if not within the specified timeframe, as the ministry is processing loans for the DDC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The DDC has requested a loan of Rs 600 million from the Ministry of Agriculture. We submitted the proposal to the Ministry of Finance, and we hope for a decision by today, July 11," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21232', 'image' => '20240711020544_milk.jpg', 'article_date' => '2024-07-11 14:04:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21505', 'article_category_id' => '1', 'title' => 'Reliance Spinning Mills Halts IPO Issuance Following SEBON’s Directive', 'sub_title' => '', 'summary' => 'KATHMANDU: Reliance Spinning Mills Limited has halted its Initial Public Offering (IPO), which was set to be issued today, July 11.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Reliance Spinning Mills Limited has halted its Initial Public Offering (IPO), which was set to be issued today, July 11. The Securities Board of Nepal (SEBON) on Wednesday sent a letter to the company, instructing it to halt the process of issuing IPOs until it provides a clear response to the Public Accounts Committee of the House of Representatives. Following the board's directive, the company announced through a notice that the IPO issuance process has been suspended until further notice.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company, which sold IPO shares to qualified institutional investors at Rs 912 per share, was authorized to offer shares at a 10 percent lower price, i.e., Rs 820.80 per share through the book-building method. According to the company's latest financial statement, earnings per share have fallen to Rs 2.80. Until mid-July of the last fiscal year, the earnings per share were Rs 54.34. In the past nine months, earnings per share have significantly decreased following the release of the financial statement.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the actual financial statement for the last fiscal year 2079/80, the company has an accumulated profit of over Rs 5.63 billion. According to the preliminary financial statement up to mid-April of the current fiscal year, it has an accumulated profit of more than Rs 5.32 million. The company's net worth per share is Rs 242.05 according to the actual financial statement, while the unaudited financial statements of the current fiscal year up to mid-April show a decrease of the net worth to Rs 179.45 per share. The company noted that the net worth calculation includes a reduction of Rs 753.684 million which it owes to the Nepal Electricity Authority.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21231', 'image' => '20240711011030_20230309061510_collage - 2023-03-08T172116.161.jpg', 'article_date' => '2024-07-11 13:09:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21504', 'article_category_id' => '1', 'title' => 'Over 55,000 Tourists Visit Khumbu Region in 11 Months ', 'sub_title' => '', 'summary' => 'SOLUKHUMBU: A total of 55,979 tourists visited the Khumbu region in the first 11 months of the current fiscal year, according to the information provided by the Sagarmatha National Park, which houses the world’s highest peak – Mt Everest. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">SOLUKHUMBU: A total of 55,979 tourists visited the Khumbu region in the first 11 months of the current fiscal year, according to the information provided by the Sagarmatha National Park, which houses the world’s highest peak – Mt Everest. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The national park’s Information Officer, Manoj Kumar Mandal, said most of the visitors were foreign tourists. According to Mandal, 48,402 foreign tourists visited the park in the review period while the number of domestic tourists was 7,577. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Most of the tourists visited the Khumbu region in the Nepali months of Baishakh (mid-April to mid-May) and the least in Shrawan (mid-July to mid-August). The month of Baishakh is the tourist season while Shrawn has adverse weather, resulting into least footfall, Mandal added. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the national park collected Rs 136 million in revenue in the last 11 months. Every Nepali is charged Rs 100, while to those from SAARC countries have to pay Rs 1,500 each and foreign tourists are charged entry fee of Rs 3,000 for visiting the national park. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'tourism, Nepal, Everest, visitors, Khumbu, national, park, Sagarmatha, SAARC, foreigners', 'description' => '', 'sortorder' => '21230', 'image' => '20240711122531_20210428112643_20210219104343_20201108030120_Contribution of Mountains to the Tourism Economy_1.jpg', 'article_date' => '2024-07-11 12:23:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21503', 'article_category_id' => '276', 'title' => 'Remittance Inflow Surges to Rs 1327.51 Billion in Current FY', 'sub_title' => '', 'summary' => 'KATHMANDU: Remittance inflow to Nepal in the first eleven months of the current fiscal year has reached Rs 1327.51 billion, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Remittance inflow to Nepal in the first eleven months of the current fiscal year has reached Rs 1327.51 billion, according to the latest report of Nepal Rastra Bank (NRB). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report unveiled by the NRB on Wednesday mentions that the remittance inflow increased 19.3 percent in the review period compared to an increase of 22.7 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"">In the US Dollar terms, remittance inflows increased 17.3 percent to 9.98 billion in the review period compared to an increase of 13.0 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"">According to the NRB report, the number of Nepali workers, both institutional and individuals, taking first-time approval for foreign employment stood at 422,936 in the review period. Those taking approval for renew entry was 262,705. In the previous year, such numbers were 459,415 and 260,262 respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, net transfer increased 17.3 percent to Rs 1443.06 billion in the review period. Such a transfer had increased 21.9 percent in the same period of the previous year, according to the report.</span></span></p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'remittance, inflow, increase, Nepal, permit, labour, employment', 'description' => '', 'sortorder' => '21229', 'image' => '20240711115437_20221117115804_Remittance.jpg', 'article_date' => '2024-07-11 11:53:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21502', 'article_category_id' => '268', 'title' => 'Nepal’s Trade Deficit Stands at Rs 1314.44 Billion', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year. According to the Nepal Rastra Bank (NRB), such deficit had decreased 15.2 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"">The Current Macroeconomic and Financial Situation Report based on eleven month’s data unveiled by the NRB on Wednesday mentions that the export-import ratio decreased to 9.6 percent in the review period from 9.7 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 review period, merchandise exports decreased 3.0 percent to Rs 139.26 billion compared to a decrease of 22.7 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 4.5 percent while that to China increased 57.7 percent. Similarly, export to other countries decreased 1.7 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, bran, tea among others decreased, the NRB report states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, merchandise imports decreased 1.8 percent to Rs 1453.70 billion compared to a decrease of 16 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 decreased 3.1 percent while that from China increased 34.8 percent. Similarly, import from other countries decreased 3.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of transport equipment, vehicle and spare parts, readymade garments, electrical equipment, aircraft spare parts, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Birgunj, Jaleswor, Krishnanagar, Mechi, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Birgunj, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani Customs Offices increased whereas imports from all the other major customs points decreased in the review period.</span></span></p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'trade, deficit, import, export, Nepal, foreign, customs, vehicle, petrol', 'description' => '', 'sortorder' => '21228', 'image' => '20240711112658_20240520an-import-export-business.jpg', 'article_date' => '2024-07-11 11:25:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21501', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Moderates to 4.17 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.17 percent in mid-June compared to 6.83 percent in the corresponding period of last 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"">KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.17 percent in mid-June compared to 6.83 percent in the corresponding period of last fiscal year, according to the latest report of Nepal Rastra Bank (NRB).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report of Nepal published by the central bank on Wednesday shows that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent. Likewise, the prices of ghee and oil sub-category decreased 5.51 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, prices of miscellaneous goods and services sub-category increased 12.47 percent, education 5.64 percent and clothes and footwear 3.46 percent, the report mentions. The price index of communication sub-category decreased 0.48 percent and transportation 0.18 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the review month, consumer price inflation in the Kathmandu Valley stood at 4.25 percent, down from 7.19 percent in the corresponding period of last year. The Terai region witnessed inflation drop to 3.82 percent from 6.93 percent, hill region 4.63 percent from 6.28 percent and mountain region 4.77 percent from 6.39 percent a year ago.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21227', 'image' => '20240711105755_inflation.jpg', 'article_date' => '2024-07-11 10:57:03', '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' => '21518', 'article_category_id' => '1', 'title' => 'Floods Cause Extensive Damage, Blocking Various Highways across the Country', 'sub_title' => '', 'summary' => 'KATHMANDU: Floods and landslides caused by continuous rains have damaged physical structures nationwide, blocking several roads in Lamjung, Dang, Chitwan, Baglung, Parbat, and Udayapur districts.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Floods and landslides caused by continuous rains have damaged physical structures nationwide, blocking several roads in Lamjung, Dang, Chitwan, Baglung, Parbat, and Udayapur districts. The blockages have halted vehicle movement, stranding travelers on the roads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Narayangadh-Muglin Road Blocked by Landslide</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Narayangadh-Muglin road is blocked due to landslides at Jholungu Bridge and Simaltal in Bharatpur Metropolitan City-29, according to the District Police Office, Chitwan. Efforts are underway in coordination with the road division to clear the landslide and resume vehicle movement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prithvi Highway Operates One-Way</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Prithvi Highway has reopened for one-way traffic following a landslide near Ichchakamana Rural Municipality-3, Mauvakhola. Police Inspector Nirla Bhandari of the Area Police Office, Muglin, informed that continuous rain is causing frequent landslides. It will take additional time to fully open the road for two-way traffic. Meanwhile, local authorities have advised avoiding travel on this road except for essential purposes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Maldhunga-Beni Road Blocked</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Maldhunga-Beni road in Parbat is blocked under the Kaligandaki Corridor, which connects Myagdi and Mustang with the national highway. Heavy rain on Wednesday night caused landslides at three locations on the 13 km stretch from Maldhunga to Beni. A rockslide obstructed the road in Kushma Municipality-1, and another blockage occurred in Phanphane of Jaljala village.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Landslides Destroy Six Houses in Parbat</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Six houses have been buried in landslides in Parbat's Modi Rural Municipality-2, Deupur, according to the District Police Office, Parbat. The landslides have displaced 15 families, while 9 families are at risk. The landslides began Wednesday afternoon, also burying a house in Pakuwa, Kushma Municipality-11.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gaighat-Diktel Road Blocked</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Gaighat-Diktel road is blocked due to a landslide on Ratmate Hill in Triyuga Municipality-14, Udayapur. The road has been blocked since Wednesday afternoon. Efforts are being made to facilitate emergency vehicles, including ambulances. The District Administration Office, Triyuga Municipality, and Gaighat-Diktel Road Office are working together to address the issue.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mid-Hill Highway Closure</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Baglung section of the mid-hill Pushpalal Highway is blocked due to landslides. Superintendent of Police Rishiram Kandel of the District Police Office, Baglung, reported that the highway is closed at Bayaldanda, Kathekhola Rural Municipality-6.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Besishahar-Chame Road Closed</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Besishahar-Chame road, connecting Lamjung and Manang, has been closed for 10 days. A flood swept away the concrete bridge of Timangkhola in Chame Rural Municipality-1, Manang, halting vehicle operations on that road. A culvert had been installed after a flood in June 2078 destroyed the vital bridge, and a new motorized concrete bridge was constructed two years ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Damage in Dang</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ghorahi-Tulsipur road is also blocked due to floods. The road was closed after the diversion in the Ghorahi-Tulsipur section, where an under-construction bridge was swept away by the flood.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21244', 'image' => '20240712113153_HLG_MUGLIN_PAHIRO.jpg', 'article_date' => '2024-07-12 11:31:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21516', 'article_category_id' => '1', 'title' => 'Buddha Air Plane Skids off Runway at Gautam Buddha Int’l Airport ', 'sub_title' => '', 'summary' => 'BHAIRAHAWA: An aircraft of Buddha Air with 59 people on board skidded off the runway at the Gautam Buddha Airport while landing last night. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BHAIRAHAWA: An aircraft of Buddha Air with 59 people on board skidded off the runway at the Gautam Buddha Airport while landing last night. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, the incident occurred at 9:30 pm on Thursday as the plane landed from the east to the west of the airport.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the District Police Office, Rupandehi, Manohar Prasad Bhatta, said that all passengers were evacuated safely from the plane which got stuck in the mud.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The plane had 59 people on board including four crew members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police Bhatta said that the Gautam Buddha Airport is closed now as the plane is on the runway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of technicians from Buddha Air has been dispatched to the airport from Kathmandu to shift the aircraft from the runway. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21243', 'image' => '20240712110409_buddha-air.jpg', 'article_date' => '2024-07-12 11:03:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21517', 'article_category_id' => '1', 'title' => 'PM Dahal Seeking Vote of Confidence for the Fifth Time ', 'sub_title' => '', 'summary' => 'KATHMANDU: Prime Minister Pushpa Kamal Dahal is seeking a vote of confidence for his government in the lower house of the Federal Parliament today.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Prime Minister Pushpa Kamal Dahal is seeking a vote of confidence for his government in the lower house of the Federal Parliament today.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The House of Representatives meeting is scheduled for 11:00 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Dahal, who is also the Chairman of the CPN (Maoist Centre), is seeking a vote of confidence for the fifth time in the House of Representatives in 18 months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lately, he is taking a vote of confidence in accordance with Article 100 (2) of the Constitution of Nepal after the CPN (UML) pulled out of the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The largest party in the HoR, the Nepali Congress, and the second largest party the CPN (UML) on July 1 forged an alliance and decided to form a new government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21242', 'image' => '20240712111209_20230924084614_PRO-Beijing-PMPrachandb.jpg', 'article_date' => '2024-07-12 11:11:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21515', 'article_category_id' => '1', 'title' => 'IMF to Provide USD 41.3 Million to Nepal under Extended Credit Facility', 'sub_title' => '', 'summary' => 'KATHMANDU: The Executive Board of the International Monetary Fund (IMF) has granted Nepal Special Drawing Rights (SDF) of 31.4 million (about US$ 41.3 million) under the four year Extended Credit Facility (ECF) upon completing the fourth review of the ECF recently.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Executive Board of the International Monetary Fund (IMF) has granted Nepal Special Drawing Rights (SDF) of 31.4 million (about US$ 41.3 million) under the four year Extended Credit Facility (ECF) upon completing the fourth review of the ECF recently.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This brings total disbursements under the ECF for budget support so far to SDR 188.3 million (about US$ 247.7 million), the IMF said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF Executive Board had approved the ECF arrangement for Nepal on January 12, 2022 for SDR 282.42 million (180 percent of quota or about US$ 371.6 million).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before disbursing each tranche of the extended credit facility, the IMF reviews previous commitments. For this review, the Deputy Division Chief and Resident Chief for Nepal under the Asia Pacific Division of the IMF, Tidiane Kinda, led a delegation to Nepal in late May. During their visit, the IMF delegation met with Finance Minister Barshman Pun and assured that the remaining amount under the ECF would be disbursed soon.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF has been providing financial assistance to various countries through the ECF Fund to support structural and policy reforms, medium-term balance of payments, internal revenue mobilization, public investment management, and financial risk reduction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been utilizing the ECF funds as budgetary aid.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF noted that Nepal has made good progress with implementation of the program, which has helped mitigate the impact of the pandemic and global shocks on economic activity, protect vulnerable groups, and preserve macroeconomic and financial stability. The program is also helping to catalyze additional financing from Nepal’s development partners, the IMF said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF, however, warned that the economy continues to face challenges as growth, projected around 3 percent in FY2023/24, remains below potential in the context of subdued domestic demand and post pandemic balance sheet repairs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic activity is expected to pick up with growth reaching 4.9 percent in FY2024/25, supported by stronger domestic demand. The cautiously accommodative monetary policy stance, planned increase in capital expenditure in the FY2024/25 budget, additional hydropower generation, and a continued increase in tourist arrivals are expected to boost domestic demand and growth,” reads the statement issued by IMF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the IMF, inflation is expected to remain within the Nepal Rastra Bank’s (NRB) target ceiling of 5.5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF statement further said that domestic risks dominate the outlook. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Failure to raise the execution rate of capital projects would deprive the economy of much-needed stimulus and weigh on growth.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another factor that the IMF pointed out could disrupt policy continuity and reform implementation is fragile political stability. Intensification of financial sector vulnerabilities such as a further rise in NPLs or more failures of cooperative lenders could endanger banking system soundness, the statement added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Externally, high commodity prices could slow the recovery in energy-intensive sectors, the IMF said, adding that Nepal remains vulnerable to natural disasters.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21241', 'image' => '20240712102754_1617265057.imf.jpg', 'article_date' => '2024-07-12 10:27:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21514', 'article_category_id' => '1', 'title' => 'Two Buses with Dozens of Passengers Missing in Trishuli River', 'sub_title' => '', 'summary' => 'CHITWAN: Two buses carrying dozens of passengers went missing early this morning (Friday) in the Trishuli River following landslides in the Simaltal area along the Narayanghat-Mugling road section in Chitwan district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">CHITWAN: Two buses carrying dozens of passengers went missing early this morning (Friday) in the Trishuli River following landslides in the Simaltal area along the Narayanghat-Mugling road section in Chitwan district, officials confirmed. The buses were carrying a total of 65 passengers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Indra Dev Yadav, Chief District Officer of Chitwan, confirmed that the two vehicles fell into the river at around 3:30 AM due to landslide. According to Yadav, one bus operated by Ganapati Deluxe, heading to Gaur of Rautahat from Kathmandu, had 41 passengers on board. The second bus, traveling to Kathmandu from Birgunj, was carrying 24 passengers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rescue workers have sttarted efforts to clear the landslides, Yadav reported. Further details of the accident are awaited. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21240', 'image' => '20240712110443_f61e6067.jpeg', 'article_date' => '2024-07-12 09:30:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21513', 'article_category_id' => '1', 'title' => 'Police Advisory for Travel: Check Road Conditions Before Departure', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Police has urged everyone to embark on long journeys only after confirming the road conditions, as highways are obstructed in various parts of the country due to ongoing monsoon rains.', 'content' => '<h3><span style="font-size:18px"><strong>KATHMANDU</strong>: The Nepal Police has urged everyone to embark on long journeys only after confirming the road conditions, as highways are obstructed in various parts of the country due to ongoing monsoon rains.</span></h3> <p><span style="font-size:18px">Central Police spokesperson and Deputy Inspector General of Police Dan Bahadur Karki advised the public to travel only after checking road conditions to avoid being stranded mid-way.</span></p> <p><span style="font-size:18px">According to the police, several roads remain non-operational, obstructed, and damaged by floods and landslides triggered by relentless monsoon rains in various locations.</span></p> <p><span style="font-size:18px">The police have emphasized the importance of taking special precautions, as further obstructions are likely with continuing rainfall.</span></p> <p><span style="font-size:18px">Nepal Police has provided the following contact numbers for information on highway conditions: 100 (general police), 103 (traffic police), 104 (Children at Risk Coordination Centre), and 1113 (police complaints).</span></p> <p><span style="font-size:18px">Additionally, the National Disaster Risk Reduction and Management Authority (NDRRMA) has appealed to everyone to take special precautions in light of the Department of Hydrology and Meteorology's public notice, which forecasts cloudy weather and rainfall in many areas for the next three days. -- RSS</span></p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => 'monsoon, rain, road, travel, advisory, police', 'description' => '', 'sortorder' => '21239', 'image' => '20240712091120_20240711095901_KuldeepNeupane_Dang_RSS_22_20240706_115817.jpg', 'article_date' => '2024-07-12 09:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21512', 'article_category_id' => '1', 'title' => 'People in Entertainment Sector Facing Sexual Exploitation and Forced Labour: Police', 'sub_title' => '', 'summary' => 'KATHMANDU: Men and women in the entertainment sector are being forced to endure sexual exploitation, forced labour, and violence, according to a police investigation.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Men and women in the entertainment sector are being forced to endure sexual exploitation, forced labour, and violence, according to a police investigation.</span></p> <p><span style="font-size:18px">The Human Trafficking and Investigation Bureau of the Nepal Police has arrested 19 people this fiscal year for involvement in prostitution.</span></p> <p><span style="font-size:18px">Eight men and eleven women were arrested from dance bars, restaurants, and guest houses in various parts of Kathmandu, including Ratopool, Gongabu, Thamel, Gaushala, Lalitpur, Chabahil, Jadibuti, Shivachowk, Jorpati, Machhapokhari, Mitrapark, and Narayantar, stated Deputy Superintendent of Police Birendra Godar.</span></p> <p><span style="font-size:18px">These details were shared in a program organized by the Bureau in coordination with Anahat Nepal, an organization dedicated to women's empowerment and violence reduction.</span></p> <p><span style="font-size:18px">According to Bureau statistics, 59 people—15 men and 44 women—were found to be victims of domestic trafficking and prostitution. In the last three years, a total of 521 people have been arrested for human trafficking.</span></p> <p><span style="font-size:18px">Deputy Superintendent Birendra Godar reported that investigations revealed girls are mainly trafficked from rural to urban areas with false promises of employment, only to be forced into the sex trade and subjected to various forms of exploitation.</span></p> <p><span style="font-size:18px">Human trafficking is one of the three largest organized crimes globally. Program Manager of Anahat Nepal, Sanjay Dhakal, noted that girls are often lured to commercial centers with various temptations and then coerced into prostitution.</span></p> <p><span style="font-size:18px">Most victims of domestic trafficking are girls aged 13-17.</span></p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21238', 'image' => '20240712084303_20240711093209_Untitled.jpg', 'article_date' => '2024-07-12 08:41:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21508', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses 2,200 Points; Turnover Stands at 7.8 Billion ', 'sub_title' => '', 'summary' => 'The last trading day of the week saw a 1.31% increase on the NEPSE, closing at 2204.61 points on Thursday. The NEPSE index surpassed 2,200 points for the first time in nearly a year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 11: The last trading day of the week saw a 1.31% increase on the NEPSE, closing at 2204.61 points on Thursday. The NEPSE index surpassed 2,200 points for the first time in nearly a year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Previously, the NEPSE index closed at 2,250.50 points on July 24, 2023. Despite surpassing the 2,200 mark in intraday trading, it had not closed above that level.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Overall, investors are optimistic about the market. Trading volumes are increasing, and this influx of new investors can be expected to continue. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Particularly, the announcement of a coalition government between the Nepali Congress and the CPN UML has had a positive impact on stock market sentiment. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, the central bank is expected to implement monetary policies aimed at stimulating the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 331 scrips were traded through 87,086 transactions. A total of 20,237,780 units of shares were exchanged, resulting in a total turnover of Rs 7.8 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">CEDB Hydropower Development Company Limited (CHDC) led the turnover with a total transaction value of Rs 15 crore. Balephi Hydropower Limited (BHL) saw the highest gain of 9.99%, closing at a market price of Rs 421.50 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the contrary, Samaj Laghubitta Bittiya Sanstha Limited (SAMAJ) faced the maximum loss of 4.59%, closing at a market price of Rs 2932 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector performance, all sector indices closed in the red except for the Microfinance Index and Trading Index. The Banking Index gained the highest at 3.06%, while the Microfinance Index lost 0.53%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21234', 'image' => '20240711035754_collage (64).jpg', 'article_date' => '2024-07-11 15:56:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21507', 'article_category_id' => '1', 'title' => 'Victims of Cooperatives Say Police Refused to File their Complaints', 'sub_title' => '', 'summary' => 'KATHMANDU: The victims of cooperatives said that the police did not file their complaints against the operators of the problematic cooperatives who failed to return their deposits.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The victims of cooperatives said that the police did not file their complaints against the operators of the problematic cooperatives who failed to return their deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at an interaction organized by the Parliamentary Special Investigation Committee on Misuse of Cooperative Savings on Wednesday, the victims alleged that directors of fraudulent cooperatives managed to escape because the police failed to file and investigate complaints on time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kiran Shrestha, a victim of Suryadarshan Cooperative in Pokhara, complained that after the cooperative failed to return his savings, he repeatedly approached the police, but they did not file his complaint. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A report prepared by the Pokhara Metropolitan City indicates that Suryadarshan Cooperative invested loans in the Gorkha Media Network. The victims allege that the police avoided investigating due to the involvement of influential people in the cooperative's misconduct. "Regardless of who the home minister or police chief is, there should be an investigation. If the person is guilty, their movable assets and bank accounts should be frozen to recover the money," Shrestha said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">GB Rai, chairman of Gorkha Media Network, is accused of misusing funds from Swarnalakshmi Savings and Credit Cooperative in Kathmandu, Sahara Cooperative in Chitwan, Sano Paila Cooperative in Birgunj, Suryadarshan Cooperative in Pokhara, Supreme Savings and Credit Cooperative in Butwal, and Samana Savings and Credit Cooperative in Nepalgunj. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Lamichhane, Chairman of Rastriya Swatantra Party (RSP) and incumbent Home Minister, was the Managing Director of Gorkha Media Network at the time. The parliamentary committee was formed following allegations of Lamichhane's involvement in the misappropriation of cooperative savings. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dinesh Ghimire, a victim of Yamuna Idol, a multi-purpose cooperative, reported that after being ignored by the Department of Cooperatives, he approached the police but did not receive justice there either. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The cooperative owners were given a year to return the savings, allowing them to escape and transfer their land," he said. "The money of the depositors will not be returned unless the owners’ assets are auctioned to return the savings," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dil Bahadur Karki, a victim of Baglung-based Image Savings and Credit Cooperative, also emphasized that the depositors’ money could be returned from the cooperative owner’s property. "The assets of the cooperative's chairman, Dev Kumar Nepali, exceed Rs 2 billion, while the embezzlement by the cooperative amounts to Rs 2.35 billion," he stated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Khagendra KC, a victim of Kantipur Saving Cooperative, pointed out that the cooperative's land is mortgaged to the bank, and when the bank auctions it, there is a risk that the depisotors will not get their savings back.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During the parliamentary committee meeting on Friday, Inspector General of Nepal Police Basanta Bahadur Kunwar explained that directors of cooperatives took loans by mortgaging property acquired from the depositors in banks. When the banks auctioned these properties at low prices, it put the cooperatives’ savings at risk.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, in the committee meeting on Monday, Nepal Rastra Bank’s Governor Maha Prasad Adhikari proposed forming a 'dedicated' group to solve the problem, suggesting that the cooperative issues could be addressed using methods similar to those adopted for troubled banks.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21233', 'image' => '20240711020757_cooperative problem.jpeg', 'article_date' => '2024-07-11 14:07:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21506', 'article_category_id' => '1', 'title' => 'Deadline for Payments to Dairy Farmers Expires Today with No Payments Made Yet', 'sub_title' => '', 'summary' => 'KATHMANDU: The deadline for payment of dues to the dairy farmers by industrialists expires today, Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The deadline for payment of dues to the dairy farmers by industrialists expires today, Thursday. The government, the farmers and the industrialists had reached an agreement on June 30 to settle arrears up to mid-April by July 11. Despite this, industrialists have not made the payments, even as the deadline approaches.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kishore Bagale, chairman of the Chitwan District Milk Producers' Cooperative Association, expressed frustration, stating that the government and industrialists often agree with farmers but fail to honor these agreements. He noted that none of the farmers in Chitwan have received their payments. Farmers in Chitwan are yet to receive Rs 720 million from various dairy industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bagale pointed out the irony that agreements witnessed by the Ministry of Agriculture have not been implemented. He emphasized that if the government-owned Dairy Development Corporation (DDC) had made payments to the farmers, it would have pressured private dairies to follow suit. Unfortunately, the DDC did not make the payments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"There's no point in expecting payments from the private sector," he remarked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Previously, the three parties agreed to pay farmers on 12 December , 2023 and 2 March , 2024. When these agreements were not implemented, a third agreement was reached on June 30. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dairy farmers staged a street protest in Kathmandu a few days ago demanding payment. The government cracked down on the protest. The latest agreement set a deadline for the dairy industry to pay farmers by July 11 for arrears up to mid-April. Additionally, arrears for mid-April to mid-June must be paid by mid-September. The agreement also stipulated that the dairy industry must pay for milk purchases in two installments each month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Thaneshwar Sapkota, chairman of the Central Milk Producers Cooperative Association, stated that despite the agreement to pay arrears by July 11, farmers have not received any payments. He lamented that farmers have been cheated once again.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Farmers are yet to receive about Rs 4 billion from the DDC and private dairy industries, with DDC alone owing around Rs 2 billion. Among private dairies, Sujal Dairy, Rajdhani Dairy, Gayatri Dairy, and Tulsa Dairy owe the most to the farmers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A farmer on condition of anonymity reported that some dairies have not paid and even threatened farmers with a "milk holiday" if they demanded payment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajkumar Dahal, president of Rajdhani Dairy, denied these allegations, claiming that Rajdhani Dairy owes only about Rs 4-5 million out of a total of Rs 40 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We have already paid most of them. Farmers from whom we have not bought milk have made allegations against us. We are paying the amount we owe to farmers," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajendra Prasad Mishra, secretary of the Ministry of Agriculture and Livestock Development, assured that payments would be made as soon as possible, even if not within the specified timeframe, as the ministry is processing loans for the DDC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The DDC has requested a loan of Rs 600 million from the Ministry of Agriculture. We submitted the proposal to the Ministry of Finance, and we hope for a decision by today, July 11," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21232', 'image' => '20240711020544_milk.jpg', 'article_date' => '2024-07-11 14:04:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21505', 'article_category_id' => '1', 'title' => 'Reliance Spinning Mills Halts IPO Issuance Following SEBON’s Directive', 'sub_title' => '', 'summary' => 'KATHMANDU: Reliance Spinning Mills Limited has halted its Initial Public Offering (IPO), which was set to be issued today, July 11.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Reliance Spinning Mills Limited has halted its Initial Public Offering (IPO), which was set to be issued today, July 11. The Securities Board of Nepal (SEBON) on Wednesday sent a letter to the company, instructing it to halt the process of issuing IPOs until it provides a clear response to the Public Accounts Committee of the House of Representatives. Following the board's directive, the company announced through a notice that the IPO issuance process has been suspended until further notice.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company, which sold IPO shares to qualified institutional investors at Rs 912 per share, was authorized to offer shares at a 10 percent lower price, i.e., Rs 820.80 per share through the book-building method. According to the company's latest financial statement, earnings per share have fallen to Rs 2.80. Until mid-July of the last fiscal year, the earnings per share were Rs 54.34. In the past nine months, earnings per share have significantly decreased following the release of the financial statement.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the actual financial statement for the last fiscal year 2079/80, the company has an accumulated profit of over Rs 5.63 billion. According to the preliminary financial statement up to mid-April of the current fiscal year, it has an accumulated profit of more than Rs 5.32 million. The company's net worth per share is Rs 242.05 according to the actual financial statement, while the unaudited financial statements of the current fiscal year up to mid-April show a decrease of the net worth to Rs 179.45 per share. The company noted that the net worth calculation includes a reduction of Rs 753.684 million which it owes to the Nepal Electricity Authority.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21231', 'image' => '20240711011030_20230309061510_collage - 2023-03-08T172116.161.jpg', 'article_date' => '2024-07-11 13:09:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21504', 'article_category_id' => '1', 'title' => 'Over 55,000 Tourists Visit Khumbu Region in 11 Months ', 'sub_title' => '', 'summary' => 'SOLUKHUMBU: A total of 55,979 tourists visited the Khumbu region in the first 11 months of the current fiscal year, according to the information provided by the Sagarmatha National Park, which houses the world’s highest peak – Mt Everest. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">SOLUKHUMBU: A total of 55,979 tourists visited the Khumbu region in the first 11 months of the current fiscal year, according to the information provided by the Sagarmatha National Park, which houses the world’s highest peak – Mt Everest. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The national park’s Information Officer, Manoj Kumar Mandal, said most of the visitors were foreign tourists. According to Mandal, 48,402 foreign tourists visited the park in the review period while the number of domestic tourists was 7,577. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Most of the tourists visited the Khumbu region in the Nepali months of Baishakh (mid-April to mid-May) and the least in Shrawan (mid-July to mid-August). The month of Baishakh is the tourist season while Shrawn has adverse weather, resulting into least footfall, Mandal added. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the national park collected Rs 136 million in revenue in the last 11 months. Every Nepali is charged Rs 100, while to those from SAARC countries have to pay Rs 1,500 each and foreign tourists are charged entry fee of Rs 3,000 for visiting the national park. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'tourism, Nepal, Everest, visitors, Khumbu, national, park, Sagarmatha, SAARC, foreigners', 'description' => '', 'sortorder' => '21230', 'image' => '20240711122531_20210428112643_20210219104343_20201108030120_Contribution of Mountains to the Tourism Economy_1.jpg', 'article_date' => '2024-07-11 12:23:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21503', 'article_category_id' => '276', 'title' => 'Remittance Inflow Surges to Rs 1327.51 Billion in Current FY', 'sub_title' => '', 'summary' => 'KATHMANDU: Remittance inflow to Nepal in the first eleven months of the current fiscal year has reached Rs 1327.51 billion, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Remittance inflow to Nepal in the first eleven months of the current fiscal year has reached Rs 1327.51 billion, according to the latest report of Nepal Rastra Bank (NRB). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report unveiled by the NRB on Wednesday mentions that the remittance inflow increased 19.3 percent in the review period compared to an increase of 22.7 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"">In the US Dollar terms, remittance inflows increased 17.3 percent to 9.98 billion in the review period compared to an increase of 13.0 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"">According to the NRB report, the number of Nepali workers, both institutional and individuals, taking first-time approval for foreign employment stood at 422,936 in the review period. Those taking approval for renew entry was 262,705. In the previous year, such numbers were 459,415 and 260,262 respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, net transfer increased 17.3 percent to Rs 1443.06 billion in the review period. Such a transfer had increased 21.9 percent in the same period of the previous year, according to the report.</span></span></p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'remittance, inflow, increase, Nepal, permit, labour, employment', 'description' => '', 'sortorder' => '21229', 'image' => '20240711115437_20221117115804_Remittance.jpg', 'article_date' => '2024-07-11 11:53:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21502', 'article_category_id' => '268', 'title' => 'Nepal’s Trade Deficit Stands at Rs 1314.44 Billion', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year. According to the Nepal Rastra Bank (NRB), such deficit had decreased 15.2 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"">The Current Macroeconomic and Financial Situation Report based on eleven month’s data unveiled by the NRB on Wednesday mentions that the export-import ratio decreased to 9.6 percent in the review period from 9.7 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 review period, merchandise exports decreased 3.0 percent to Rs 139.26 billion compared to a decrease of 22.7 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 4.5 percent while that to China increased 57.7 percent. Similarly, export to other countries decreased 1.7 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, bran, tea among others decreased, the NRB report states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, merchandise imports decreased 1.8 percent to Rs 1453.70 billion compared to a decrease of 16 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 decreased 3.1 percent while that from China increased 34.8 percent. Similarly, import from other countries decreased 3.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of transport equipment, vehicle and spare parts, readymade garments, electrical equipment, aircraft spare parts, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Birgunj, Jaleswor, Krishnanagar, Mechi, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Birgunj, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani Customs Offices increased whereas imports from all the other major customs points decreased in the review period.</span></span></p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'trade, deficit, import, export, Nepal, foreign, customs, vehicle, petrol', 'description' => '', 'sortorder' => '21228', 'image' => '20240711112658_20240520an-import-export-business.jpg', 'article_date' => '2024-07-11 11:25:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21501', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Moderates to 4.17 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.17 percent in mid-June compared to 6.83 percent in the corresponding period of last 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"">KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.17 percent in mid-June compared to 6.83 percent in the corresponding period of last fiscal year, according to the latest report of Nepal Rastra Bank (NRB).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report of Nepal published by the central bank on Wednesday shows that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent. Likewise, the prices of ghee and oil sub-category decreased 5.51 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, prices of miscellaneous goods and services sub-category increased 12.47 percent, education 5.64 percent and clothes and footwear 3.46 percent, the report mentions. The price index of communication sub-category decreased 0.48 percent and transportation 0.18 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the review month, consumer price inflation in the Kathmandu Valley stood at 4.25 percent, down from 7.19 percent in the corresponding period of last year. The Terai region witnessed inflation drop to 3.82 percent from 6.93 percent, hill region 4.63 percent from 6.28 percent and mountain region 4.77 percent from 6.39 percent a year ago.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21227', 'image' => '20240711105755_inflation.jpg', 'article_date' => '2024-07-11 10:57:03', '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' => '21518', 'article_category_id' => '1', 'title' => 'Floods Cause Extensive Damage, Blocking Various Highways across the Country', 'sub_title' => '', 'summary' => 'KATHMANDU: Floods and landslides caused by continuous rains have damaged physical structures nationwide, blocking several roads in Lamjung, Dang, Chitwan, Baglung, Parbat, and Udayapur districts.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Floods and landslides caused by continuous rains have damaged physical structures nationwide, blocking several roads in Lamjung, Dang, Chitwan, Baglung, Parbat, and Udayapur districts. The blockages have halted vehicle movement, stranding travelers on the roads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Narayangadh-Muglin Road Blocked by Landslide</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Narayangadh-Muglin road is blocked due to landslides at Jholungu Bridge and Simaltal in Bharatpur Metropolitan City-29, according to the District Police Office, Chitwan. Efforts are underway in coordination with the road division to clear the landslide and resume vehicle movement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prithvi Highway Operates One-Way</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Prithvi Highway has reopened for one-way traffic following a landslide near Ichchakamana Rural Municipality-3, Mauvakhola. Police Inspector Nirla Bhandari of the Area Police Office, Muglin, informed that continuous rain is causing frequent landslides. It will take additional time to fully open the road for two-way traffic. Meanwhile, local authorities have advised avoiding travel on this road except for essential purposes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Maldhunga-Beni Road Blocked</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Maldhunga-Beni road in Parbat is blocked under the Kaligandaki Corridor, which connects Myagdi and Mustang with the national highway. Heavy rain on Wednesday night caused landslides at three locations on the 13 km stretch from Maldhunga to Beni. A rockslide obstructed the road in Kushma Municipality-1, and another blockage occurred in Phanphane of Jaljala village.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Landslides Destroy Six Houses in Parbat</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Six houses have been buried in landslides in Parbat's Modi Rural Municipality-2, Deupur, according to the District Police Office, Parbat. The landslides have displaced 15 families, while 9 families are at risk. The landslides began Wednesday afternoon, also burying a house in Pakuwa, Kushma Municipality-11.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gaighat-Diktel Road Blocked</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Gaighat-Diktel road is blocked due to a landslide on Ratmate Hill in Triyuga Municipality-14, Udayapur. The road has been blocked since Wednesday afternoon. Efforts are being made to facilitate emergency vehicles, including ambulances. The District Administration Office, Triyuga Municipality, and Gaighat-Diktel Road Office are working together to address the issue.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mid-Hill Highway Closure</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Baglung section of the mid-hill Pushpalal Highway is blocked due to landslides. Superintendent of Police Rishiram Kandel of the District Police Office, Baglung, reported that the highway is closed at Bayaldanda, Kathekhola Rural Municipality-6.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Besishahar-Chame Road Closed</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Besishahar-Chame road, connecting Lamjung and Manang, has been closed for 10 days. A flood swept away the concrete bridge of Timangkhola in Chame Rural Municipality-1, Manang, halting vehicle operations on that road. A culvert had been installed after a flood in June 2078 destroyed the vital bridge, and a new motorized concrete bridge was constructed two years ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Damage in Dang</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ghorahi-Tulsipur road is also blocked due to floods. The road was closed after the diversion in the Ghorahi-Tulsipur section, where an under-construction bridge was swept away by the flood.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21244', 'image' => '20240712113153_HLG_MUGLIN_PAHIRO.jpg', 'article_date' => '2024-07-12 11:31:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21516', 'article_category_id' => '1', 'title' => 'Buddha Air Plane Skids off Runway at Gautam Buddha Int’l Airport ', 'sub_title' => '', 'summary' => 'BHAIRAHAWA: An aircraft of Buddha Air with 59 people on board skidded off the runway at the Gautam Buddha Airport while landing last night. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BHAIRAHAWA: An aircraft of Buddha Air with 59 people on board skidded off the runway at the Gautam Buddha Airport while landing last night. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, the incident occurred at 9:30 pm on Thursday as the plane landed from the east to the west of the airport.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the District Police Office, Rupandehi, Manohar Prasad Bhatta, said that all passengers were evacuated safely from the plane which got stuck in the mud.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The plane had 59 people on board including four crew members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police Bhatta said that the Gautam Buddha Airport is closed now as the plane is on the runway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of technicians from Buddha Air has been dispatched to the airport from Kathmandu to shift the aircraft from the runway. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21243', 'image' => '20240712110409_buddha-air.jpg', 'article_date' => '2024-07-12 11:03:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21517', 'article_category_id' => '1', 'title' => 'PM Dahal Seeking Vote of Confidence for the Fifth Time ', 'sub_title' => '', 'summary' => 'KATHMANDU: Prime Minister Pushpa Kamal Dahal is seeking a vote of confidence for his government in the lower house of the Federal Parliament today.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Prime Minister Pushpa Kamal Dahal is seeking a vote of confidence for his government in the lower house of the Federal Parliament today.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The House of Representatives meeting is scheduled for 11:00 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Dahal, who is also the Chairman of the CPN (Maoist Centre), is seeking a vote of confidence for the fifth time in the House of Representatives in 18 months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lately, he is taking a vote of confidence in accordance with Article 100 (2) of the Constitution of Nepal after the CPN (UML) pulled out of the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The largest party in the HoR, the Nepali Congress, and the second largest party the CPN (UML) on July 1 forged an alliance and decided to form a new government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21242', 'image' => '20240712111209_20230924084614_PRO-Beijing-PMPrachandb.jpg', 'article_date' => '2024-07-12 11:11:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21515', 'article_category_id' => '1', 'title' => 'IMF to Provide USD 41.3 Million to Nepal under Extended Credit Facility', 'sub_title' => '', 'summary' => 'KATHMANDU: The Executive Board of the International Monetary Fund (IMF) has granted Nepal Special Drawing Rights (SDF) of 31.4 million (about US$ 41.3 million) under the four year Extended Credit Facility (ECF) upon completing the fourth review of the ECF recently.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Executive Board of the International Monetary Fund (IMF) has granted Nepal Special Drawing Rights (SDF) of 31.4 million (about US$ 41.3 million) under the four year Extended Credit Facility (ECF) upon completing the fourth review of the ECF recently.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This brings total disbursements under the ECF for budget support so far to SDR 188.3 million (about US$ 247.7 million), the IMF said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF Executive Board had approved the ECF arrangement for Nepal on January 12, 2022 for SDR 282.42 million (180 percent of quota or about US$ 371.6 million).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before disbursing each tranche of the extended credit facility, the IMF reviews previous commitments. For this review, the Deputy Division Chief and Resident Chief for Nepal under the Asia Pacific Division of the IMF, Tidiane Kinda, led a delegation to Nepal in late May. During their visit, the IMF delegation met with Finance Minister Barshman Pun and assured that the remaining amount under the ECF would be disbursed soon.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF has been providing financial assistance to various countries through the ECF Fund to support structural and policy reforms, medium-term balance of payments, internal revenue mobilization, public investment management, and financial risk reduction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been utilizing the ECF funds as budgetary aid.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF noted that Nepal has made good progress with implementation of the program, which has helped mitigate the impact of the pandemic and global shocks on economic activity, protect vulnerable groups, and preserve macroeconomic and financial stability. The program is also helping to catalyze additional financing from Nepal’s development partners, the IMF said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF, however, warned that the economy continues to face challenges as growth, projected around 3 percent in FY2023/24, remains below potential in the context of subdued domestic demand and post pandemic balance sheet repairs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic activity is expected to pick up with growth reaching 4.9 percent in FY2024/25, supported by stronger domestic demand. The cautiously accommodative monetary policy stance, planned increase in capital expenditure in the FY2024/25 budget, additional hydropower generation, and a continued increase in tourist arrivals are expected to boost domestic demand and growth,” reads the statement issued by IMF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the IMF, inflation is expected to remain within the Nepal Rastra Bank’s (NRB) target ceiling of 5.5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF statement further said that domestic risks dominate the outlook. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Failure to raise the execution rate of capital projects would deprive the economy of much-needed stimulus and weigh on growth.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another factor that the IMF pointed out could disrupt policy continuity and reform implementation is fragile political stability. Intensification of financial sector vulnerabilities such as a further rise in NPLs or more failures of cooperative lenders could endanger banking system soundness, the statement added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Externally, high commodity prices could slow the recovery in energy-intensive sectors, the IMF said, adding that Nepal remains vulnerable to natural disasters.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21241', 'image' => '20240712102754_1617265057.imf.jpg', 'article_date' => '2024-07-12 10:27:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21514', 'article_category_id' => '1', 'title' => 'Two Buses with Dozens of Passengers Missing in Trishuli River', 'sub_title' => '', 'summary' => 'CHITWAN: Two buses carrying dozens of passengers went missing early this morning (Friday) in the Trishuli River following landslides in the Simaltal area along the Narayanghat-Mugling road section in Chitwan district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">CHITWAN: Two buses carrying dozens of passengers went missing early this morning (Friday) in the Trishuli River following landslides in the Simaltal area along the Narayanghat-Mugling road section in Chitwan district, officials confirmed. The buses were carrying a total of 65 passengers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Indra Dev Yadav, Chief District Officer of Chitwan, confirmed that the two vehicles fell into the river at around 3:30 AM due to landslide. According to Yadav, one bus operated by Ganapati Deluxe, heading to Gaur of Rautahat from Kathmandu, had 41 passengers on board. The second bus, traveling to Kathmandu from Birgunj, was carrying 24 passengers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rescue workers have sttarted efforts to clear the landslides, Yadav reported. Further details of the accident are awaited. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21240', 'image' => '20240712110443_f61e6067.jpeg', 'article_date' => '2024-07-12 09:30:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21513', 'article_category_id' => '1', 'title' => 'Police Advisory for Travel: Check Road Conditions Before Departure', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Police has urged everyone to embark on long journeys only after confirming the road conditions, as highways are obstructed in various parts of the country due to ongoing monsoon rains.', 'content' => '<h3><span style="font-size:18px"><strong>KATHMANDU</strong>: The Nepal Police has urged everyone to embark on long journeys only after confirming the road conditions, as highways are obstructed in various parts of the country due to ongoing monsoon rains.</span></h3> <p><span style="font-size:18px">Central Police spokesperson and Deputy Inspector General of Police Dan Bahadur Karki advised the public to travel only after checking road conditions to avoid being stranded mid-way.</span></p> <p><span style="font-size:18px">According to the police, several roads remain non-operational, obstructed, and damaged by floods and landslides triggered by relentless monsoon rains in various locations.</span></p> <p><span style="font-size:18px">The police have emphasized the importance of taking special precautions, as further obstructions are likely with continuing rainfall.</span></p> <p><span style="font-size:18px">Nepal Police has provided the following contact numbers for information on highway conditions: 100 (general police), 103 (traffic police), 104 (Children at Risk Coordination Centre), and 1113 (police complaints).</span></p> <p><span style="font-size:18px">Additionally, the National Disaster Risk Reduction and Management Authority (NDRRMA) has appealed to everyone to take special precautions in light of the Department of Hydrology and Meteorology's public notice, which forecasts cloudy weather and rainfall in many areas for the next three days. -- RSS</span></p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => 'monsoon, rain, road, travel, advisory, police', 'description' => '', 'sortorder' => '21239', 'image' => '20240712091120_20240711095901_KuldeepNeupane_Dang_RSS_22_20240706_115817.jpg', 'article_date' => '2024-07-12 09:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21512', 'article_category_id' => '1', 'title' => 'People in Entertainment Sector Facing Sexual Exploitation and Forced Labour: Police', 'sub_title' => '', 'summary' => 'KATHMANDU: Men and women in the entertainment sector are being forced to endure sexual exploitation, forced labour, and violence, according to a police investigation.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Men and women in the entertainment sector are being forced to endure sexual exploitation, forced labour, and violence, according to a police investigation.</span></p> <p><span style="font-size:18px">The Human Trafficking and Investigation Bureau of the Nepal Police has arrested 19 people this fiscal year for involvement in prostitution.</span></p> <p><span style="font-size:18px">Eight men and eleven women were arrested from dance bars, restaurants, and guest houses in various parts of Kathmandu, including Ratopool, Gongabu, Thamel, Gaushala, Lalitpur, Chabahil, Jadibuti, Shivachowk, Jorpati, Machhapokhari, Mitrapark, and Narayantar, stated Deputy Superintendent of Police Birendra Godar.</span></p> <p><span style="font-size:18px">These details were shared in a program organized by the Bureau in coordination with Anahat Nepal, an organization dedicated to women's empowerment and violence reduction.</span></p> <p><span style="font-size:18px">According to Bureau statistics, 59 people—15 men and 44 women—were found to be victims of domestic trafficking and prostitution. In the last three years, a total of 521 people have been arrested for human trafficking.</span></p> <p><span style="font-size:18px">Deputy Superintendent Birendra Godar reported that investigations revealed girls are mainly trafficked from rural to urban areas with false promises of employment, only to be forced into the sex trade and subjected to various forms of exploitation.</span></p> <p><span style="font-size:18px">Human trafficking is one of the three largest organized crimes globally. Program Manager of Anahat Nepal, Sanjay Dhakal, noted that girls are often lured to commercial centers with various temptations and then coerced into prostitution.</span></p> <p><span style="font-size:18px">Most victims of domestic trafficking are girls aged 13-17.</span></p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21238', 'image' => '20240712084303_20240711093209_Untitled.jpg', 'article_date' => '2024-07-12 08:41:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21508', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses 2,200 Points; Turnover Stands at 7.8 Billion ', 'sub_title' => '', 'summary' => 'The last trading day of the week saw a 1.31% increase on the NEPSE, closing at 2204.61 points on Thursday. The NEPSE index surpassed 2,200 points for the first time in nearly a year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 11: The last trading day of the week saw a 1.31% increase on the NEPSE, closing at 2204.61 points on Thursday. The NEPSE index surpassed 2,200 points for the first time in nearly a year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Previously, the NEPSE index closed at 2,250.50 points on July 24, 2023. Despite surpassing the 2,200 mark in intraday trading, it had not closed above that level.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Overall, investors are optimistic about the market. Trading volumes are increasing, and this influx of new investors can be expected to continue. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Particularly, the announcement of a coalition government between the Nepali Congress and the CPN UML has had a positive impact on stock market sentiment. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, the central bank is expected to implement monetary policies aimed at stimulating the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 331 scrips were traded through 87,086 transactions. A total of 20,237,780 units of shares were exchanged, resulting in a total turnover of Rs 7.8 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">CEDB Hydropower Development Company Limited (CHDC) led the turnover with a total transaction value of Rs 15 crore. Balephi Hydropower Limited (BHL) saw the highest gain of 9.99%, closing at a market price of Rs 421.50 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the contrary, Samaj Laghubitta Bittiya Sanstha Limited (SAMAJ) faced the maximum loss of 4.59%, closing at a market price of Rs 2932 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector performance, all sector indices closed in the red except for the Microfinance Index and Trading Index. The Banking Index gained the highest at 3.06%, while the Microfinance Index lost 0.53%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21234', 'image' => '20240711035754_collage (64).jpg', 'article_date' => '2024-07-11 15:56:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21507', 'article_category_id' => '1', 'title' => 'Victims of Cooperatives Say Police Refused to File their Complaints', 'sub_title' => '', 'summary' => 'KATHMANDU: The victims of cooperatives said that the police did not file their complaints against the operators of the problematic cooperatives who failed to return their deposits.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The victims of cooperatives said that the police did not file their complaints against the operators of the problematic cooperatives who failed to return their deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at an interaction organized by the Parliamentary Special Investigation Committee on Misuse of Cooperative Savings on Wednesday, the victims alleged that directors of fraudulent cooperatives managed to escape because the police failed to file and investigate complaints on time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kiran Shrestha, a victim of Suryadarshan Cooperative in Pokhara, complained that after the cooperative failed to return his savings, he repeatedly approached the police, but they did not file his complaint. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A report prepared by the Pokhara Metropolitan City indicates that Suryadarshan Cooperative invested loans in the Gorkha Media Network. The victims allege that the police avoided investigating due to the involvement of influential people in the cooperative's misconduct. "Regardless of who the home minister or police chief is, there should be an investigation. If the person is guilty, their movable assets and bank accounts should be frozen to recover the money," Shrestha said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">GB Rai, chairman of Gorkha Media Network, is accused of misusing funds from Swarnalakshmi Savings and Credit Cooperative in Kathmandu, Sahara Cooperative in Chitwan, Sano Paila Cooperative in Birgunj, Suryadarshan Cooperative in Pokhara, Supreme Savings and Credit Cooperative in Butwal, and Samana Savings and Credit Cooperative in Nepalgunj. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Lamichhane, Chairman of Rastriya Swatantra Party (RSP) and incumbent Home Minister, was the Managing Director of Gorkha Media Network at the time. The parliamentary committee was formed following allegations of Lamichhane's involvement in the misappropriation of cooperative savings. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dinesh Ghimire, a victim of Yamuna Idol, a multi-purpose cooperative, reported that after being ignored by the Department of Cooperatives, he approached the police but did not receive justice there either. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The cooperative owners were given a year to return the savings, allowing them to escape and transfer their land," he said. "The money of the depositors will not be returned unless the owners’ assets are auctioned to return the savings," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dil Bahadur Karki, a victim of Baglung-based Image Savings and Credit Cooperative, also emphasized that the depositors’ money could be returned from the cooperative owner’s property. "The assets of the cooperative's chairman, Dev Kumar Nepali, exceed Rs 2 billion, while the embezzlement by the cooperative amounts to Rs 2.35 billion," he stated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Khagendra KC, a victim of Kantipur Saving Cooperative, pointed out that the cooperative's land is mortgaged to the bank, and when the bank auctions it, there is a risk that the depisotors will not get their savings back.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During the parliamentary committee meeting on Friday, Inspector General of Nepal Police Basanta Bahadur Kunwar explained that directors of cooperatives took loans by mortgaging property acquired from the depositors in banks. When the banks auctioned these properties at low prices, it put the cooperatives’ savings at risk.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, in the committee meeting on Monday, Nepal Rastra Bank’s Governor Maha Prasad Adhikari proposed forming a 'dedicated' group to solve the problem, suggesting that the cooperative issues could be addressed using methods similar to those adopted for troubled banks.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21233', 'image' => '20240711020757_cooperative problem.jpeg', 'article_date' => '2024-07-11 14:07:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21506', 'article_category_id' => '1', 'title' => 'Deadline for Payments to Dairy Farmers Expires Today with No Payments Made Yet', 'sub_title' => '', 'summary' => 'KATHMANDU: The deadline for payment of dues to the dairy farmers by industrialists expires today, Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The deadline for payment of dues to the dairy farmers by industrialists expires today, Thursday. The government, the farmers and the industrialists had reached an agreement on June 30 to settle arrears up to mid-April by July 11. Despite this, industrialists have not made the payments, even as the deadline approaches.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kishore Bagale, chairman of the Chitwan District Milk Producers' Cooperative Association, expressed frustration, stating that the government and industrialists often agree with farmers but fail to honor these agreements. He noted that none of the farmers in Chitwan have received their payments. Farmers in Chitwan are yet to receive Rs 720 million from various dairy industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bagale pointed out the irony that agreements witnessed by the Ministry of Agriculture have not been implemented. He emphasized that if the government-owned Dairy Development Corporation (DDC) had made payments to the farmers, it would have pressured private dairies to follow suit. Unfortunately, the DDC did not make the payments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"There's no point in expecting payments from the private sector," he remarked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Previously, the three parties agreed to pay farmers on 12 December , 2023 and 2 March , 2024. When these agreements were not implemented, a third agreement was reached on June 30. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dairy farmers staged a street protest in Kathmandu a few days ago demanding payment. The government cracked down on the protest. The latest agreement set a deadline for the dairy industry to pay farmers by July 11 for arrears up to mid-April. Additionally, arrears for mid-April to mid-June must be paid by mid-September. The agreement also stipulated that the dairy industry must pay for milk purchases in two installments each month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Thaneshwar Sapkota, chairman of the Central Milk Producers Cooperative Association, stated that despite the agreement to pay arrears by July 11, farmers have not received any payments. He lamented that farmers have been cheated once again.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Farmers are yet to receive about Rs 4 billion from the DDC and private dairy industries, with DDC alone owing around Rs 2 billion. Among private dairies, Sujal Dairy, Rajdhani Dairy, Gayatri Dairy, and Tulsa Dairy owe the most to the farmers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A farmer on condition of anonymity reported that some dairies have not paid and even threatened farmers with a "milk holiday" if they demanded payment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajkumar Dahal, president of Rajdhani Dairy, denied these allegations, claiming that Rajdhani Dairy owes only about Rs 4-5 million out of a total of Rs 40 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We have already paid most of them. Farmers from whom we have not bought milk have made allegations against us. We are paying the amount we owe to farmers," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajendra Prasad Mishra, secretary of the Ministry of Agriculture and Livestock Development, assured that payments would be made as soon as possible, even if not within the specified timeframe, as the ministry is processing loans for the DDC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The DDC has requested a loan of Rs 600 million from the Ministry of Agriculture. We submitted the proposal to the Ministry of Finance, and we hope for a decision by today, July 11," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21232', 'image' => '20240711020544_milk.jpg', 'article_date' => '2024-07-11 14:04:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21505', 'article_category_id' => '1', 'title' => 'Reliance Spinning Mills Halts IPO Issuance Following SEBON’s Directive', 'sub_title' => '', 'summary' => 'KATHMANDU: Reliance Spinning Mills Limited has halted its Initial Public Offering (IPO), which was set to be issued today, July 11.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Reliance Spinning Mills Limited has halted its Initial Public Offering (IPO), which was set to be issued today, July 11. The Securities Board of Nepal (SEBON) on Wednesday sent a letter to the company, instructing it to halt the process of issuing IPOs until it provides a clear response to the Public Accounts Committee of the House of Representatives. Following the board's directive, the company announced through a notice that the IPO issuance process has been suspended until further notice.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company, which sold IPO shares to qualified institutional investors at Rs 912 per share, was authorized to offer shares at a 10 percent lower price, i.e., Rs 820.80 per share through the book-building method. According to the company's latest financial statement, earnings per share have fallen to Rs 2.80. Until mid-July of the last fiscal year, the earnings per share were Rs 54.34. In the past nine months, earnings per share have significantly decreased following the release of the financial statement.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the actual financial statement for the last fiscal year 2079/80, the company has an accumulated profit of over Rs 5.63 billion. According to the preliminary financial statement up to mid-April of the current fiscal year, it has an accumulated profit of more than Rs 5.32 million. The company's net worth per share is Rs 242.05 according to the actual financial statement, while the unaudited financial statements of the current fiscal year up to mid-April show a decrease of the net worth to Rs 179.45 per share. The company noted that the net worth calculation includes a reduction of Rs 753.684 million which it owes to the Nepal Electricity Authority.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21231', 'image' => '20240711011030_20230309061510_collage - 2023-03-08T172116.161.jpg', 'article_date' => '2024-07-11 13:09:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21504', 'article_category_id' => '1', 'title' => 'Over 55,000 Tourists Visit Khumbu Region in 11 Months ', 'sub_title' => '', 'summary' => 'SOLUKHUMBU: A total of 55,979 tourists visited the Khumbu region in the first 11 months of the current fiscal year, according to the information provided by the Sagarmatha National Park, which houses the world’s highest peak – Mt Everest. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">SOLUKHUMBU: A total of 55,979 tourists visited the Khumbu region in the first 11 months of the current fiscal year, according to the information provided by the Sagarmatha National Park, which houses the world’s highest peak – Mt Everest. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The national park’s Information Officer, Manoj Kumar Mandal, said most of the visitors were foreign tourists. According to Mandal, 48,402 foreign tourists visited the park in the review period while the number of domestic tourists was 7,577. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Most of the tourists visited the Khumbu region in the Nepali months of Baishakh (mid-April to mid-May) and the least in Shrawan (mid-July to mid-August). The month of Baishakh is the tourist season while Shrawn has adverse weather, resulting into least footfall, Mandal added. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the national park collected Rs 136 million in revenue in the last 11 months. Every Nepali is charged Rs 100, while to those from SAARC countries have to pay Rs 1,500 each and foreign tourists are charged entry fee of Rs 3,000 for visiting the national park. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'tourism, Nepal, Everest, visitors, Khumbu, national, park, Sagarmatha, SAARC, foreigners', 'description' => '', 'sortorder' => '21230', 'image' => '20240711122531_20210428112643_20210219104343_20201108030120_Contribution of Mountains to the Tourism Economy_1.jpg', 'article_date' => '2024-07-11 12:23:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21503', 'article_category_id' => '276', 'title' => 'Remittance Inflow Surges to Rs 1327.51 Billion in Current FY', 'sub_title' => '', 'summary' => 'KATHMANDU: Remittance inflow to Nepal in the first eleven months of the current fiscal year has reached Rs 1327.51 billion, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Remittance inflow to Nepal in the first eleven months of the current fiscal year has reached Rs 1327.51 billion, according to the latest report of Nepal Rastra Bank (NRB). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report unveiled by the NRB on Wednesday mentions that the remittance inflow increased 19.3 percent in the review period compared to an increase of 22.7 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"">In the US Dollar terms, remittance inflows increased 17.3 percent to 9.98 billion in the review period compared to an increase of 13.0 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"">According to the NRB report, the number of Nepali workers, both institutional and individuals, taking first-time approval for foreign employment stood at 422,936 in the review period. Those taking approval for renew entry was 262,705. In the previous year, such numbers were 459,415 and 260,262 respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, net transfer increased 17.3 percent to Rs 1443.06 billion in the review period. Such a transfer had increased 21.9 percent in the same period of the previous year, according to the report.</span></span></p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'remittance, inflow, increase, Nepal, permit, labour, employment', 'description' => '', 'sortorder' => '21229', 'image' => '20240711115437_20221117115804_Remittance.jpg', 'article_date' => '2024-07-11 11:53:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21502', 'article_category_id' => '268', 'title' => 'Nepal’s Trade Deficit Stands at Rs 1314.44 Billion', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year. According to the Nepal Rastra Bank (NRB), such deficit had decreased 15.2 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"">The Current Macroeconomic and Financial Situation Report based on eleven month’s data unveiled by the NRB on Wednesday mentions that the export-import ratio decreased to 9.6 percent in the review period from 9.7 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 review period, merchandise exports decreased 3.0 percent to Rs 139.26 billion compared to a decrease of 22.7 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 4.5 percent while that to China increased 57.7 percent. Similarly, export to other countries decreased 1.7 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, bran, tea among others decreased, the NRB report states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, merchandise imports decreased 1.8 percent to Rs 1453.70 billion compared to a decrease of 16 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 decreased 3.1 percent while that from China increased 34.8 percent. Similarly, import from other countries decreased 3.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of transport equipment, vehicle and spare parts, readymade garments, electrical equipment, aircraft spare parts, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Birgunj, Jaleswor, Krishnanagar, Mechi, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Birgunj, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani Customs Offices increased whereas imports from all the other major customs points decreased in the review period.</span></span></p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'trade, deficit, import, export, Nepal, foreign, customs, vehicle, petrol', 'description' => '', 'sortorder' => '21228', 'image' => '20240711112658_20240520an-import-export-business.jpg', 'article_date' => '2024-07-11 11:25:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21501', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Moderates to 4.17 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.17 percent in mid-June compared to 6.83 percent in the corresponding period of last 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"">KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.17 percent in mid-June compared to 6.83 percent in the corresponding period of last fiscal year, according to the latest report of Nepal Rastra Bank (NRB).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report of Nepal published by the central bank on Wednesday shows that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent. Likewise, the prices of ghee and oil sub-category decreased 5.51 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, prices of miscellaneous goods and services sub-category increased 12.47 percent, education 5.64 percent and clothes and footwear 3.46 percent, the report mentions. The price index of communication sub-category decreased 0.48 percent and transportation 0.18 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the review month, consumer price inflation in the Kathmandu Valley stood at 4.25 percent, down from 7.19 percent in the corresponding period of last year. The Terai region witnessed inflation drop to 3.82 percent from 6.93 percent, hill region 4.63 percent from 6.28 percent and mountain region 4.77 percent from 6.39 percent a year ago.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21227', 'image' => '20240711105755_inflation.jpg', 'article_date' => '2024-07-11 10:57:03', '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' => '21518', 'article_category_id' => '1', 'title' => 'Floods Cause Extensive Damage, Blocking Various Highways across the Country', 'sub_title' => '', 'summary' => 'KATHMANDU: Floods and landslides caused by continuous rains have damaged physical structures nationwide, blocking several roads in Lamjung, Dang, Chitwan, Baglung, Parbat, and Udayapur districts.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Floods and landslides caused by continuous rains have damaged physical structures nationwide, blocking several roads in Lamjung, Dang, Chitwan, Baglung, Parbat, and Udayapur districts. The blockages have halted vehicle movement, stranding travelers on the roads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Narayangadh-Muglin Road Blocked by Landslide</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Narayangadh-Muglin road is blocked due to landslides at Jholungu Bridge and Simaltal in Bharatpur Metropolitan City-29, according to the District Police Office, Chitwan. Efforts are underway in coordination with the road division to clear the landslide and resume vehicle movement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prithvi Highway Operates One-Way</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Prithvi Highway has reopened for one-way traffic following a landslide near Ichchakamana Rural Municipality-3, Mauvakhola. Police Inspector Nirla Bhandari of the Area Police Office, Muglin, informed that continuous rain is causing frequent landslides. It will take additional time to fully open the road for two-way traffic. Meanwhile, local authorities have advised avoiding travel on this road except for essential purposes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Maldhunga-Beni Road Blocked</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Maldhunga-Beni road in Parbat is blocked under the Kaligandaki Corridor, which connects Myagdi and Mustang with the national highway. Heavy rain on Wednesday night caused landslides at three locations on the 13 km stretch from Maldhunga to Beni. A rockslide obstructed the road in Kushma Municipality-1, and another blockage occurred in Phanphane of Jaljala village.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Landslides Destroy Six Houses in Parbat</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Six houses have been buried in landslides in Parbat's Modi Rural Municipality-2, Deupur, according to the District Police Office, Parbat. The landslides have displaced 15 families, while 9 families are at risk. The landslides began Wednesday afternoon, also burying a house in Pakuwa, Kushma Municipality-11.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gaighat-Diktel Road Blocked</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Gaighat-Diktel road is blocked due to a landslide on Ratmate Hill in Triyuga Municipality-14, Udayapur. The road has been blocked since Wednesday afternoon. Efforts are being made to facilitate emergency vehicles, including ambulances. The District Administration Office, Triyuga Municipality, and Gaighat-Diktel Road Office are working together to address the issue.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mid-Hill Highway Closure</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Baglung section of the mid-hill Pushpalal Highway is blocked due to landslides. Superintendent of Police Rishiram Kandel of the District Police Office, Baglung, reported that the highway is closed at Bayaldanda, Kathekhola Rural Municipality-6.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Besishahar-Chame Road Closed</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Besishahar-Chame road, connecting Lamjung and Manang, has been closed for 10 days. A flood swept away the concrete bridge of Timangkhola in Chame Rural Municipality-1, Manang, halting vehicle operations on that road. A culvert had been installed after a flood in June 2078 destroyed the vital bridge, and a new motorized concrete bridge was constructed two years ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Damage in Dang</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ghorahi-Tulsipur road is also blocked due to floods. The road was closed after the diversion in the Ghorahi-Tulsipur section, where an under-construction bridge was swept away by the flood.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21244', 'image' => '20240712113153_HLG_MUGLIN_PAHIRO.jpg', 'article_date' => '2024-07-12 11:31:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21516', 'article_category_id' => '1', 'title' => 'Buddha Air Plane Skids off Runway at Gautam Buddha Int’l Airport ', 'sub_title' => '', 'summary' => 'BHAIRAHAWA: An aircraft of Buddha Air with 59 people on board skidded off the runway at the Gautam Buddha Airport while landing last night. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BHAIRAHAWA: An aircraft of Buddha Air with 59 people on board skidded off the runway at the Gautam Buddha Airport while landing last night. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, the incident occurred at 9:30 pm on Thursday as the plane landed from the east to the west of the airport.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the District Police Office, Rupandehi, Manohar Prasad Bhatta, said that all passengers were evacuated safely from the plane which got stuck in the mud.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The plane had 59 people on board including four crew members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police Bhatta said that the Gautam Buddha Airport is closed now as the plane is on the runway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of technicians from Buddha Air has been dispatched to the airport from Kathmandu to shift the aircraft from the runway. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21243', 'image' => '20240712110409_buddha-air.jpg', 'article_date' => '2024-07-12 11:03:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21517', 'article_category_id' => '1', 'title' => 'PM Dahal Seeking Vote of Confidence for the Fifth Time ', 'sub_title' => '', 'summary' => 'KATHMANDU: Prime Minister Pushpa Kamal Dahal is seeking a vote of confidence for his government in the lower house of the Federal Parliament today.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Prime Minister Pushpa Kamal Dahal is seeking a vote of confidence for his government in the lower house of the Federal Parliament today.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The House of Representatives meeting is scheduled for 11:00 am today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Dahal, who is also the Chairman of the CPN (Maoist Centre), is seeking a vote of confidence for the fifth time in the House of Representatives in 18 months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lately, he is taking a vote of confidence in accordance with Article 100 (2) of the Constitution of Nepal after the CPN (UML) pulled out of the government. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The largest party in the HoR, the Nepali Congress, and the second largest party the CPN (UML) on July 1 forged an alliance and decided to form a new government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21242', 'image' => '20240712111209_20230924084614_PRO-Beijing-PMPrachandb.jpg', 'article_date' => '2024-07-12 11:11:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21515', 'article_category_id' => '1', 'title' => 'IMF to Provide USD 41.3 Million to Nepal under Extended Credit Facility', 'sub_title' => '', 'summary' => 'KATHMANDU: The Executive Board of the International Monetary Fund (IMF) has granted Nepal Special Drawing Rights (SDF) of 31.4 million (about US$ 41.3 million) under the four year Extended Credit Facility (ECF) upon completing the fourth review of the ECF recently.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Executive Board of the International Monetary Fund (IMF) has granted Nepal Special Drawing Rights (SDF) of 31.4 million (about US$ 41.3 million) under the four year Extended Credit Facility (ECF) upon completing the fourth review of the ECF recently.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This brings total disbursements under the ECF for budget support so far to SDR 188.3 million (about US$ 247.7 million), the IMF said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF Executive Board had approved the ECF arrangement for Nepal on January 12, 2022 for SDR 282.42 million (180 percent of quota or about US$ 371.6 million).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before disbursing each tranche of the extended credit facility, the IMF reviews previous commitments. For this review, the Deputy Division Chief and Resident Chief for Nepal under the Asia Pacific Division of the IMF, Tidiane Kinda, led a delegation to Nepal in late May. During their visit, the IMF delegation met with Finance Minister Barshman Pun and assured that the remaining amount under the ECF would be disbursed soon.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF has been providing financial assistance to various countries through the ECF Fund to support structural and policy reforms, medium-term balance of payments, internal revenue mobilization, public investment management, and financial risk reduction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been utilizing the ECF funds as budgetary aid.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF noted that Nepal has made good progress with implementation of the program, which has helped mitigate the impact of the pandemic and global shocks on economic activity, protect vulnerable groups, and preserve macroeconomic and financial stability. The program is also helping to catalyze additional financing from Nepal’s development partners, the IMF said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF, however, warned that the economy continues to face challenges as growth, projected around 3 percent in FY2023/24, remains below potential in the context of subdued domestic demand and post pandemic balance sheet repairs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic activity is expected to pick up with growth reaching 4.9 percent in FY2024/25, supported by stronger domestic demand. The cautiously accommodative monetary policy stance, planned increase in capital expenditure in the FY2024/25 budget, additional hydropower generation, and a continued increase in tourist arrivals are expected to boost domestic demand and growth,” reads the statement issued by IMF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the IMF, inflation is expected to remain within the Nepal Rastra Bank’s (NRB) target ceiling of 5.5 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF statement further said that domestic risks dominate the outlook. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Failure to raise the execution rate of capital projects would deprive the economy of much-needed stimulus and weigh on growth.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another factor that the IMF pointed out could disrupt policy continuity and reform implementation is fragile political stability. Intensification of financial sector vulnerabilities such as a further rise in NPLs or more failures of cooperative lenders could endanger banking system soundness, the statement added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Externally, high commodity prices could slow the recovery in energy-intensive sectors, the IMF said, adding that Nepal remains vulnerable to natural disasters.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21241', 'image' => '20240712102754_1617265057.imf.jpg', 'article_date' => '2024-07-12 10:27:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21514', 'article_category_id' => '1', 'title' => 'Two Buses with Dozens of Passengers Missing in Trishuli River', 'sub_title' => '', 'summary' => 'CHITWAN: Two buses carrying dozens of passengers went missing early this morning (Friday) in the Trishuli River following landslides in the Simaltal area along the Narayanghat-Mugling road section in Chitwan district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">CHITWAN: Two buses carrying dozens of passengers went missing early this morning (Friday) in the Trishuli River following landslides in the Simaltal area along the Narayanghat-Mugling road section in Chitwan district, officials confirmed. The buses were carrying a total of 65 passengers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Indra Dev Yadav, Chief District Officer of Chitwan, confirmed that the two vehicles fell into the river at around 3:30 AM due to landslide. According to Yadav, one bus operated by Ganapati Deluxe, heading to Gaur of Rautahat from Kathmandu, had 41 passengers on board. The second bus, traveling to Kathmandu from Birgunj, was carrying 24 passengers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rescue workers have sttarted efforts to clear the landslides, Yadav reported. Further details of the accident are awaited. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21240', 'image' => '20240712110443_f61e6067.jpeg', 'article_date' => '2024-07-12 09:30:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21513', 'article_category_id' => '1', 'title' => 'Police Advisory for Travel: Check Road Conditions Before Departure', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Police has urged everyone to embark on long journeys only after confirming the road conditions, as highways are obstructed in various parts of the country due to ongoing monsoon rains.', 'content' => '<h3><span style="font-size:18px"><strong>KATHMANDU</strong>: The Nepal Police has urged everyone to embark on long journeys only after confirming the road conditions, as highways are obstructed in various parts of the country due to ongoing monsoon rains.</span></h3> <p><span style="font-size:18px">Central Police spokesperson and Deputy Inspector General of Police Dan Bahadur Karki advised the public to travel only after checking road conditions to avoid being stranded mid-way.</span></p> <p><span style="font-size:18px">According to the police, several roads remain non-operational, obstructed, and damaged by floods and landslides triggered by relentless monsoon rains in various locations.</span></p> <p><span style="font-size:18px">The police have emphasized the importance of taking special precautions, as further obstructions are likely with continuing rainfall.</span></p> <p><span style="font-size:18px">Nepal Police has provided the following contact numbers for information on highway conditions: 100 (general police), 103 (traffic police), 104 (Children at Risk Coordination Centre), and 1113 (police complaints).</span></p> <p><span style="font-size:18px">Additionally, the National Disaster Risk Reduction and Management Authority (NDRRMA) has appealed to everyone to take special precautions in light of the Department of Hydrology and Meteorology's public notice, which forecasts cloudy weather and rainfall in many areas for the next three days. -- RSS</span></p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => 'monsoon, rain, road, travel, advisory, police', 'description' => '', 'sortorder' => '21239', 'image' => '20240712091120_20240711095901_KuldeepNeupane_Dang_RSS_22_20240706_115817.jpg', 'article_date' => '2024-07-12 09:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21512', 'article_category_id' => '1', 'title' => 'People in Entertainment Sector Facing Sexual Exploitation and Forced Labour: Police', 'sub_title' => '', 'summary' => 'KATHMANDU: Men and women in the entertainment sector are being forced to endure sexual exploitation, forced labour, and violence, according to a police investigation.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Men and women in the entertainment sector are being forced to endure sexual exploitation, forced labour, and violence, according to a police investigation.</span></p> <p><span style="font-size:18px">The Human Trafficking and Investigation Bureau of the Nepal Police has arrested 19 people this fiscal year for involvement in prostitution.</span></p> <p><span style="font-size:18px">Eight men and eleven women were arrested from dance bars, restaurants, and guest houses in various parts of Kathmandu, including Ratopool, Gongabu, Thamel, Gaushala, Lalitpur, Chabahil, Jadibuti, Shivachowk, Jorpati, Machhapokhari, Mitrapark, and Narayantar, stated Deputy Superintendent of Police Birendra Godar.</span></p> <p><span style="font-size:18px">These details were shared in a program organized by the Bureau in coordination with Anahat Nepal, an organization dedicated to women's empowerment and violence reduction.</span></p> <p><span style="font-size:18px">According to Bureau statistics, 59 people—15 men and 44 women—were found to be victims of domestic trafficking and prostitution. In the last three years, a total of 521 people have been arrested for human trafficking.</span></p> <p><span style="font-size:18px">Deputy Superintendent Birendra Godar reported that investigations revealed girls are mainly trafficked from rural to urban areas with false promises of employment, only to be forced into the sex trade and subjected to various forms of exploitation.</span></p> <p><span style="font-size:18px">Human trafficking is one of the three largest organized crimes globally. Program Manager of Anahat Nepal, Sanjay Dhakal, noted that girls are often lured to commercial centers with various temptations and then coerced into prostitution.</span></p> <p><span style="font-size:18px">Most victims of domestic trafficking are girls aged 13-17.</span></p> ', 'published' => true, 'created' => '2024-07-12', 'modified' => '2024-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '21238', 'image' => '20240712084303_20240711093209_Untitled.jpg', 'article_date' => '2024-07-12 08:41:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21508', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses 2,200 Points; Turnover Stands at 7.8 Billion ', 'sub_title' => '', 'summary' => 'The last trading day of the week saw a 1.31% increase on the NEPSE, closing at 2204.61 points on Thursday. The NEPSE index surpassed 2,200 points for the first time in nearly a year.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 11: The last trading day of the week saw a 1.31% increase on the NEPSE, closing at 2204.61 points on Thursday. The NEPSE index surpassed 2,200 points for the first time in nearly a year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Previously, the NEPSE index closed at 2,250.50 points on July 24, 2023. Despite surpassing the 2,200 mark in intraday trading, it had not closed above that level.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Overall, investors are optimistic about the market. Trading volumes are increasing, and this influx of new investors can be expected to continue. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Particularly, the announcement of a coalition government between the Nepali Congress and the CPN UML has had a positive impact on stock market sentiment. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, the central bank is expected to implement monetary policies aimed at stimulating the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 331 scrips were traded through 87,086 transactions. A total of 20,237,780 units of shares were exchanged, resulting in a total turnover of Rs 7.8 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">CEDB Hydropower Development Company Limited (CHDC) led the turnover with a total transaction value of Rs 15 crore. Balephi Hydropower Limited (BHL) saw the highest gain of 9.99%, closing at a market price of Rs 421.50 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the contrary, Samaj Laghubitta Bittiya Sanstha Limited (SAMAJ) faced the maximum loss of 4.59%, closing at a market price of Rs 2932 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector performance, all sector indices closed in the red except for the Microfinance Index and Trading Index. The Banking Index gained the highest at 3.06%, while the Microfinance Index lost 0.53%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21234', 'image' => '20240711035754_collage (64).jpg', 'article_date' => '2024-07-11 15:56:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21507', 'article_category_id' => '1', 'title' => 'Victims of Cooperatives Say Police Refused to File their Complaints', 'sub_title' => '', 'summary' => 'KATHMANDU: The victims of cooperatives said that the police did not file their complaints against the operators of the problematic cooperatives who failed to return their deposits.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The victims of cooperatives said that the police did not file their complaints against the operators of the problematic cooperatives who failed to return their deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at an interaction organized by the Parliamentary Special Investigation Committee on Misuse of Cooperative Savings on Wednesday, the victims alleged that directors of fraudulent cooperatives managed to escape because the police failed to file and investigate complaints on time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kiran Shrestha, a victim of Suryadarshan Cooperative in Pokhara, complained that after the cooperative failed to return his savings, he repeatedly approached the police, but they did not file his complaint. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A report prepared by the Pokhara Metropolitan City indicates that Suryadarshan Cooperative invested loans in the Gorkha Media Network. The victims allege that the police avoided investigating due to the involvement of influential people in the cooperative's misconduct. "Regardless of who the home minister or police chief is, there should be an investigation. If the person is guilty, their movable assets and bank accounts should be frozen to recover the money," Shrestha said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">GB Rai, chairman of Gorkha Media Network, is accused of misusing funds from Swarnalakshmi Savings and Credit Cooperative in Kathmandu, Sahara Cooperative in Chitwan, Sano Paila Cooperative in Birgunj, Suryadarshan Cooperative in Pokhara, Supreme Savings and Credit Cooperative in Butwal, and Samana Savings and Credit Cooperative in Nepalgunj. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Lamichhane, Chairman of Rastriya Swatantra Party (RSP) and incumbent Home Minister, was the Managing Director of Gorkha Media Network at the time. The parliamentary committee was formed following allegations of Lamichhane's involvement in the misappropriation of cooperative savings. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dinesh Ghimire, a victim of Yamuna Idol, a multi-purpose cooperative, reported that after being ignored by the Department of Cooperatives, he approached the police but did not receive justice there either. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The cooperative owners were given a year to return the savings, allowing them to escape and transfer their land," he said. "The money of the depositors will not be returned unless the owners’ assets are auctioned to return the savings," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dil Bahadur Karki, a victim of Baglung-based Image Savings and Credit Cooperative, also emphasized that the depositors’ money could be returned from the cooperative owner’s property. "The assets of the cooperative's chairman, Dev Kumar Nepali, exceed Rs 2 billion, while the embezzlement by the cooperative amounts to Rs 2.35 billion," he stated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Khagendra KC, a victim of Kantipur Saving Cooperative, pointed out that the cooperative's land is mortgaged to the bank, and when the bank auctions it, there is a risk that the depisotors will not get their savings back.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During the parliamentary committee meeting on Friday, Inspector General of Nepal Police Basanta Bahadur Kunwar explained that directors of cooperatives took loans by mortgaging property acquired from the depositors in banks. When the banks auctioned these properties at low prices, it put the cooperatives’ savings at risk.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, in the committee meeting on Monday, Nepal Rastra Bank’s Governor Maha Prasad Adhikari proposed forming a 'dedicated' group to solve the problem, suggesting that the cooperative issues could be addressed using methods similar to those adopted for troubled banks.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21233', 'image' => '20240711020757_cooperative problem.jpeg', 'article_date' => '2024-07-11 14:07:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21506', 'article_category_id' => '1', 'title' => 'Deadline for Payments to Dairy Farmers Expires Today with No Payments Made Yet', 'sub_title' => '', 'summary' => 'KATHMANDU: The deadline for payment of dues to the dairy farmers by industrialists expires today, Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The deadline for payment of dues to the dairy farmers by industrialists expires today, Thursday. The government, the farmers and the industrialists had reached an agreement on June 30 to settle arrears up to mid-April by July 11. Despite this, industrialists have not made the payments, even as the deadline approaches.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kishore Bagale, chairman of the Chitwan District Milk Producers' Cooperative Association, expressed frustration, stating that the government and industrialists often agree with farmers but fail to honor these agreements. He noted that none of the farmers in Chitwan have received their payments. Farmers in Chitwan are yet to receive Rs 720 million from various dairy industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bagale pointed out the irony that agreements witnessed by the Ministry of Agriculture have not been implemented. He emphasized that if the government-owned Dairy Development Corporation (DDC) had made payments to the farmers, it would have pressured private dairies to follow suit. Unfortunately, the DDC did not make the payments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"There's no point in expecting payments from the private sector," he remarked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Previously, the three parties agreed to pay farmers on 12 December , 2023 and 2 March , 2024. When these agreements were not implemented, a third agreement was reached on June 30. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dairy farmers staged a street protest in Kathmandu a few days ago demanding payment. The government cracked down on the protest. The latest agreement set a deadline for the dairy industry to pay farmers by July 11 for arrears up to mid-April. Additionally, arrears for mid-April to mid-June must be paid by mid-September. The agreement also stipulated that the dairy industry must pay for milk purchases in two installments each month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Thaneshwar Sapkota, chairman of the Central Milk Producers Cooperative Association, stated that despite the agreement to pay arrears by July 11, farmers have not received any payments. He lamented that farmers have been cheated once again.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Farmers are yet to receive about Rs 4 billion from the DDC and private dairy industries, with DDC alone owing around Rs 2 billion. Among private dairies, Sujal Dairy, Rajdhani Dairy, Gayatri Dairy, and Tulsa Dairy owe the most to the farmers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A farmer on condition of anonymity reported that some dairies have not paid and even threatened farmers with a "milk holiday" if they demanded payment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajkumar Dahal, president of Rajdhani Dairy, denied these allegations, claiming that Rajdhani Dairy owes only about Rs 4-5 million out of a total of Rs 40 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We have already paid most of them. Farmers from whom we have not bought milk have made allegations against us. We are paying the amount we owe to farmers," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajendra Prasad Mishra, secretary of the Ministry of Agriculture and Livestock Development, assured that payments would be made as soon as possible, even if not within the specified timeframe, as the ministry is processing loans for the DDC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The DDC has requested a loan of Rs 600 million from the Ministry of Agriculture. We submitted the proposal to the Ministry of Finance, and we hope for a decision by today, July 11," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21232', 'image' => '20240711020544_milk.jpg', 'article_date' => '2024-07-11 14:04:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21505', 'article_category_id' => '1', 'title' => 'Reliance Spinning Mills Halts IPO Issuance Following SEBON’s Directive', 'sub_title' => '', 'summary' => 'KATHMANDU: Reliance Spinning Mills Limited has halted its Initial Public Offering (IPO), which was set to be issued today, July 11.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Reliance Spinning Mills Limited has halted its Initial Public Offering (IPO), which was set to be issued today, July 11. The Securities Board of Nepal (SEBON) on Wednesday sent a letter to the company, instructing it to halt the process of issuing IPOs until it provides a clear response to the Public Accounts Committee of the House of Representatives. Following the board's directive, the company announced through a notice that the IPO issuance process has been suspended until further notice.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company, which sold IPO shares to qualified institutional investors at Rs 912 per share, was authorized to offer shares at a 10 percent lower price, i.e., Rs 820.80 per share through the book-building method. According to the company's latest financial statement, earnings per share have fallen to Rs 2.80. Until mid-July of the last fiscal year, the earnings per share were Rs 54.34. In the past nine months, earnings per share have significantly decreased following the release of the financial statement.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the actual financial statement for the last fiscal year 2079/80, the company has an accumulated profit of over Rs 5.63 billion. According to the preliminary financial statement up to mid-April of the current fiscal year, it has an accumulated profit of more than Rs 5.32 million. The company's net worth per share is Rs 242.05 according to the actual financial statement, while the unaudited financial statements of the current fiscal year up to mid-April show a decrease of the net worth to Rs 179.45 per share. The company noted that the net worth calculation includes a reduction of Rs 753.684 million which it owes to the Nepal Electricity Authority.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21231', 'image' => '20240711011030_20230309061510_collage - 2023-03-08T172116.161.jpg', 'article_date' => '2024-07-11 13:09:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21504', 'article_category_id' => '1', 'title' => 'Over 55,000 Tourists Visit Khumbu Region in 11 Months ', 'sub_title' => '', 'summary' => 'SOLUKHUMBU: A total of 55,979 tourists visited the Khumbu region in the first 11 months of the current fiscal year, according to the information provided by the Sagarmatha National Park, which houses the world’s highest peak – Mt Everest. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">SOLUKHUMBU: A total of 55,979 tourists visited the Khumbu region in the first 11 months of the current fiscal year, according to the information provided by the Sagarmatha National Park, which houses the world’s highest peak – Mt Everest. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The national park’s Information Officer, Manoj Kumar Mandal, said most of the visitors were foreign tourists. According to Mandal, 48,402 foreign tourists visited the park in the review period while the number of domestic tourists was 7,577. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Most of the tourists visited the Khumbu region in the Nepali months of Baishakh (mid-April to mid-May) and the least in Shrawan (mid-July to mid-August). The month of Baishakh is the tourist season while Shrawn has adverse weather, resulting into least footfall, Mandal added. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the national park collected Rs 136 million in revenue in the last 11 months. Every Nepali is charged Rs 100, while to those from SAARC countries have to pay Rs 1,500 each and foreign tourists are charged entry fee of Rs 3,000 for visiting the national park. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'tourism, Nepal, Everest, visitors, Khumbu, national, park, Sagarmatha, SAARC, foreigners', 'description' => '', 'sortorder' => '21230', 'image' => '20240711122531_20210428112643_20210219104343_20201108030120_Contribution of Mountains to the Tourism Economy_1.jpg', 'article_date' => '2024-07-11 12:23:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21503', 'article_category_id' => '276', 'title' => 'Remittance Inflow Surges to Rs 1327.51 Billion in Current FY', 'sub_title' => '', 'summary' => 'KATHMANDU: Remittance inflow to Nepal in the first eleven months of the current fiscal year has reached Rs 1327.51 billion, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Remittance inflow to Nepal in the first eleven months of the current fiscal year has reached Rs 1327.51 billion, according to the latest report of Nepal Rastra Bank (NRB). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report unveiled by the NRB on Wednesday mentions that the remittance inflow increased 19.3 percent in the review period compared to an increase of 22.7 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"">In the US Dollar terms, remittance inflows increased 17.3 percent to 9.98 billion in the review period compared to an increase of 13.0 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"">According to the NRB report, the number of Nepali workers, both institutional and individuals, taking first-time approval for foreign employment stood at 422,936 in the review period. Those taking approval for renew entry was 262,705. In the previous year, such numbers were 459,415 and 260,262 respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, net transfer increased 17.3 percent to Rs 1443.06 billion in the review period. Such a transfer had increased 21.9 percent in the same period of the previous year, according to the report.</span></span></p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'remittance, inflow, increase, Nepal, permit, labour, employment', 'description' => '', 'sortorder' => '21229', 'image' => '20240711115437_20221117115804_Remittance.jpg', 'article_date' => '2024-07-11 11:53:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21502', 'article_category_id' => '268', 'title' => 'Nepal’s Trade Deficit Stands at Rs 1314.44 Billion', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal’s trade deficit stood at a massive Rs 1314.44 billion in mid-June of the current fiscal year despite a decline of 1.7 percent compared to the same period of last fiscal year. According to the Nepal Rastra Bank (NRB), such deficit had decreased 15.2 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"">The Current Macroeconomic and Financial Situation Report based on eleven month’s data unveiled by the NRB on Wednesday mentions that the export-import ratio decreased to 9.6 percent in the review period from 9.7 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 review period, merchandise exports decreased 3.0 percent to Rs 139.26 billion compared to a decrease of 22.7 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 4.5 percent while that to China increased 57.7 percent. Similarly, export to other countries decreased 1.7 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, bran, tea among others decreased, the NRB report states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, merchandise imports decreased 1.8 percent to Rs 1453.70 billion compared to a decrease of 16 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 decreased 3.1 percent while that from China increased 34.8 percent. Similarly, import from other countries decreased 3.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of transport equipment, vehicle and spare parts, readymade garments, electrical equipment, aircraft spare parts, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Birgunj, Jaleswor, Krishnanagar, Mechi, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Birgunj, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani Customs Offices increased whereas imports from all the other major customs points decreased in the review period.</span></span></p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => 'trade, deficit, import, export, Nepal, foreign, customs, vehicle, petrol', 'description' => '', 'sortorder' => '21228', 'image' => '20240711112658_20240520an-import-export-business.jpg', 'article_date' => '2024-07-11 11:25:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21501', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Moderates to 4.17 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.17 percent in mid-June compared to 6.83 percent in the corresponding period of last 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"">KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.17 percent in mid-June compared to 6.83 percent in the corresponding period of last fiscal year, according to the latest report of Nepal Rastra Bank (NRB).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report of Nepal published by the central bank on Wednesday shows that food and beverage category inflation stood at 5.76 percent in the review month whereas non-food and service category inflation stood at 2.94 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, the y-o-y price index of vegetable sub-category increased 16.02 percent, pulses and legumes 11.76 percent, cereal grains and their products 7.32 percent, sugar and sugar products 6.98 percent and non-alcoholic drinks 5.95 percent. Likewise, the prices of ghee and oil sub-category decreased 5.51 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, prices of miscellaneous goods and services sub-category increased 12.47 percent, education 5.64 percent and clothes and footwear 3.46 percent, the report mentions. The price index of communication sub-category decreased 0.48 percent and transportation 0.18 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the review month, consumer price inflation in the Kathmandu Valley stood at 4.25 percent, down from 7.19 percent in the corresponding period of last year. The Terai region witnessed inflation drop to 3.82 percent from 6.93 percent, hill region 4.63 percent from 6.28 percent and mountain region 4.77 percent from 6.39 percent a year ago.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-11', 'modified' => '2024-07-11', 'keywords' => '', 'description' => '', 'sortorder' => '21227', 'image' => '20240711105755_inflation.jpg', 'article_date' => '2024-07-11 10:57:03', '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
