June 29: Heavy rainfall along with windstorm is likely to take place in some parts of the country due to the influence of the monsoon…
June 29: Heavy rainfall along with windstorm is likely to take place in some parts of the country due to the influence of the monsoon…
The meeting of House of Representatives has approved an important proposal regarding the 'Bill to raise national debt, 2080'. The proposal, presented by Finance Minister Dr. Prakash Sharan Mahat, received a majority of votes in favor on…
Nepal and Mongolia have inked an agreement aimed at fostering collaboration in the production and export of…
The House of Representatives (HoR) has approved the 'Appropriation Bill, 2080' with a majority of votes. The bill was presented by Minister for Finance, Dr. Prakash Sharan Mahat, during the HoR meeting on…
Nabil Bank Limited has been felicitated with the 'Infosys Finacle Innovation Awards 2023'. Nabil Bank received the Platinum Award in the Infosys Finacle Innovation Award 2023 under the Product Innovation category for the inception of…
June 28: The private sector has warned the government that if it increased the wages of the workers to an unsustainable level, they will hand over the keys of their industries and businesses to the…
June 28: Life insurance companies have collected around Rs 3 billion in insurance fees under the heading of foreign employment insurance scheme in the first 11 months of the current fiscal year (FY 2022/23). According to the Nepal Insurance Authority, 10 life insurers have collected Rs 2.96 billion in insurance…
June 28: The capital market has a high potential to lead the economic growth rate of Nepal, according to a recent study conducted by the International Finance Corporation (IFC) and Securities Board of Nepal…
June 28: The Kathmandu Metropolitan City (KMC) has shown its concern on regulating the cooperatives under its jurisdiction in view of the increasing incidents of depositors being cheated by the…
June 28: On May 25, the stock market index of the hotel and tourism group was 3,430.84…
June 28: The ruling Nepali Congress (NC) and the CPN (Maoist Center) have issued a whip to their lawmakers to pass the budget for the next fiscal…
June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs 5800…
Jack Ma, co-founder of Alibaba, has arrived in Kathmandu, Nepal. According to the Department of Immigration, he landed at the Tribhuvan International Airport at 2:30 PM on…
Rastriya Banijya Bank has inaugurated its 64th extension counter in the premises of the Nepal Police Headquarters. Inspector General of Police, Basanta Bahadur Kunwar, inaugurated the extension counter during a ceremony held on…
June 27: The Financial Comptroller General Office (FCGO) has asked all the district treasury controller offices and province treasury controller offices to complete the payments of economic liabilities incurred for implementation of the annual budget and programmes of the current fiscal year by July…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 29: Heavy rainfall along with windstorm is likely to take place in some parts of the country due to the influence of the monsoon wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, light to medium rainfall is taking place in some areas of Karnali, Gandaki, Bagmati and Koshi provinces today (Thursday). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be general to complete changes in weather pattern across the country this afternoon. Light to moderate rainfall with thunderstorm and lightning is likely to occur in a few places of Sudurpaschim, Karnali, Lumbini, Gandaki and Bagmati provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division informed that heavy rainfall is predicted in some areas of Karnali, Lumbini and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Storm is likely to take place in several areas of Lumbini, Gandaki and Bagmati provinces and in some areas of remaining provinces, stated a bulletin published by the division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be general to complete changes in weather across the country tonight. According to the division, light to moderate rain with thunderstorms and lightning is likely to take place at some areas of Lumbini, Gandaki, Madhes and Koshi province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that surface and air travel, health, agriculture and tourism sectors will possibly be affected due to heavy rainfall with thunderstorms, the division has urged one and all to adopt necessary safety precaution. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18040', 'image' => '20230629103148_20211018080919_20210613043257_2021SECVPF.jpeg', 'article_date' => '2023-06-29 10:31:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18309', 'article_category_id' => '1', 'title' => 'Bill to Raise National Debt Approved', 'sub_title' => '', 'summary' => 'The meeting of House of Representatives has approved an important proposal regarding the 'Bill to raise national debt, 2080'. The proposal, presented by Finance Minister Dr. Prakash Sharan Mahat, received a majority of votes in favor on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">June 29: The meeting of House of Representatives has approved an important proposal regarding the 'Bill to raise national debt, 2080'. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The proposal, presented by Finance Minister Dr. Prakash Sharan Mahat, received a majority of votes in favor on Wednesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">During the meeting, several members of parliament, including Dr. Swarnim Wagle, Gokarna Bista, Prem Suwal, Sumana Shrestha, Ashok Kumar Chaudhary, and Amrit Lal Rajbamshi, participated in the discussion on the theoretical aspects of the bill. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Queries raised by the members were addressed by Finance Minister Dr. Mahat, who assured that the government had been mindful of maintaining the national debt within a manageable limit and making efforts to reduce the burden.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Dr. Mahat emphasized that the government's focus was on effectively utilizing the loans received, rather than solely focusing on the volume of loans.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Minister Mahat clarified that the government has established a policy to carefully plan and allocate multilateral and bilateral loans to specific sectors after conducting thorough groundwork. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, he mentioned that loans with subsidized interest rates below one percent were given priority.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Regarding the utilization of the loans, Dr. Mahat highlighted that the government intended to invest them primarily in infrastructure development, particularly in the tourism and energy sectors.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The House of Representatives is scheduled to reconvene on Sunday, July 2, at 11:00 am for further proceedings. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18039', 'image' => '20230629060303_collage (1).jpg', 'article_date' => '2023-06-29 06:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18308', 'article_category_id' => '1', 'title' => 'Nepal, and Mongolia Sign Agreement on Wool Production and Export', 'sub_title' => '', 'summary' => 'Nepal and Mongolia have inked an agreement aimed at fostering collaboration in the production and export of wool.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 29: Nepal and Mongolia have inked an agreement aimed at fostering collaboration in the production and export of wool.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The agreement, which was signed during the World Export Development Forum 2023 in Ulaanbaatar, Mongolia, on Wednesday, brings together Nepali entrepreneurs and Mongolian officials with the goal of sharing knowledge and resources related to pashmina wool.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Nepal Pashmina Industry Association and the Research and Development Institute of Light Industries of Mongolia have signed a memorandum of understanding. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This agreement focuses on enhancing cooperation in the areas of pashmina wool production, quality control, and analysis. By exchanging expertise and resources, both countries aim to further develop their respective wool industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The memorandum of understanding will be effective for five years, with the possibility of extension through mutual agreement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The signing ceremony took place in the presence of Madhu Kumar Marasini, Secretary at the Ministry of Industry, Commerce and Supply of Nepal, and Jambaltseren Tumur-Uya, State Secretary of the Mongolian Ministry of Food, Agriculture and Light Industry.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18038', 'image' => '20230629054948_collage.jpg', 'article_date' => '2023-06-29 05:48:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18307', 'article_category_id' => '1', 'title' => 'HoR Endorses Appropriation Bill, 2080 By Majority', 'sub_title' => '', 'summary' => 'The House of Representatives (HoR) has approved the 'Appropriation Bill, 2080' with a majority of votes. The bill was presented by Minister for Finance, Dr. Prakash Sharan Mahat, during the HoR meeting on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">June 28: The House of Representatives (HoR) has approved the 'Appropriation Bill, 2080' with a majority of votes. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The bill was presented by Minister for Finance, Dr. Prakash Sharan Mahat, during the HoR meeting on Wednesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">A total of 147 HoR members voted in favor of the bill, while 108 members voted against it. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaker Dev Raj Ghimire declared the approval of the appropriation bill, as it received the majority of votes from the HoR. Out of the 255 HoR members present in the meeting, 255 voted on the bill. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">As part of the voting process, Speaker Ghimire directed the secretariat to ring the alarming bell for five minutes before the vote division. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Prior to the voting, Finance Minister Dr. Mahat presented a motion seeking approval for the 'Appropriation Bill, 2080'. Speaker Ghimire proposed a voice vote with options of 'yes' or 'no'.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> Recognizing the majority in support of the proposal, Speaker Ghimire announced the endorsement of the appropriation bill. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaker Ghimire had initiated the voting process after CPN-UML's whip Mahesh Bartaula demanded for the same. </span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18037', 'image' => '20230628062709_collage (56).jpg', 'article_date' => '2023-06-28 18:25:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18306', 'article_category_id' => '1', 'title' => 'Nabil Bank Honoured with Infosys Innovation Awards 2023', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has been felicitated with the 'Infosys Finacle Innovation Awards 2023'. Nabil Bank received the Platinum Award in the Infosys Finacle Innovation Award 2023 under the Product Innovation category for the inception of nBank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">June 28: Nabil Bank Limited has been felicitated with the 'Infosys Finacle Innovation Awards 2023'. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Nabil Bank received the Platinum Award in the Infosys Finacle Innovation Award 2023 under the Product Innovation category for the inception of nBank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Nabil Bank emerged as the winner among more than 200 nominations in 10 categories, making it a notable achievement for the bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The Chief Executive Officer (CEO) of Nabil Bank, Gyanendra Prasad Dhungana, stated that this award is the outcome of bank's digital banking and innovative thinking.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The award has given additional motivation to deliver superior, simple, and excellent banking services to the bank's customers, employees, investors, and the larger community.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">nBank is the first mobile banking platform in Nepal to provide digital banking services without customers being physically present in any branch.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Customers can avail themselves of banking services with the bank's cooperation without filling any physical forms or visiting any branches. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The award has emboldened the bank to provide more innovative digital services in the days ahead, according to the bank.</span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18036', 'image' => '20230628050830_collage (55).jpg', 'article_date' => '2023-06-28 17:06:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18305', 'article_category_id' => '1', 'title' => 'Private Sector Alarmed by Government’s Decision to Increase Minimum Wage', 'sub_title' => '', 'summary' => 'June 28: The private sector has warned the government that if it increased the wages of the workers to an unsustainable level, they will hand over the keys of their industries and businesses to the government.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The private sector has warned the government that if it increased the wages of the workers to an unsustainable level, they will hand over the keys of their industries and businesses to the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Employers who participated in an interaction on minimum wages organized by the Federation of Nepaesel Chamber of Commerce and Industry in Birgunj of Madhesh Province on Tuesday clarified that the wages cannot be increased as the industries are running at less than half their capacity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They expressed concern that the government is trying to increase the minimum wage at a time when the industries and businesses are facing all kinds of problems due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI’s Babu Kaji Karki claimed that if wages are increased unilaterally without the consent of the private sector, which contributes </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">85</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to the total employment creation, it will cause an accident for the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The interaction organized outside the capital to understand the views of the industries and entrepreneurs regarding the government's plan to increase the minimum wage in the next fiscal year shed light that the labour cost has been rising due to the increment in minimum wages and collective bargaining every two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders said that the economic indicators do not show a comfortable economic situation at present. Due to economic contraction, the employers are not ready to take the burden of salary hike when they are forced to cut employment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If forced by the government, entrepreneurs will have to give up the keys to their business, said Karki. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector is alarmed by the government’s of plans to double the current minimum wage of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per month</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Some say that the minimum wage will be increased to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> while others say it will go as high as Rs</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If this is the case, the industries will be closed,” says Karki.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector has warned that the practice of hiring Indian workers will increase if the salary burden becomes unsustainable. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Lath, outgoing president of the Madhesh chapter of FNCCI, said that although the government is going to increase the wages of the workers, it seems indifferent about increasing the productivity. “Entrepreneurs turn to automatic technology when they cannot bear the burden of wages. The day may come when employment opportunities will be closed due to this," he said, who is also an advisor to the FNCCI’s Employers Council.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashok Kumar Temani, president of the Madhesh chapter of FNCCI, demanded that the government should also contribute if the salary is to be increased. “Modality can be made in the form of contribution," said Temani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector says that wages should be increased at different rates depending on the geographical situation and cost of the city where the workers are employed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We have an unreasonable practice of setting same wages in all the places,” he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anil Kumar Agarwal, president of Birgunj Chamber of Industry and Commerce, said that the industry and trade has shrunk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"To overcome the crisis of coronavirus pandemic, we have to find many ways to cut expenses. If there is an increase in wages, there is no option but to close the enterprises," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hari Gautam, coordinator of the FNCCI Employers' Committee, said that although the economy is said to have recovered, the situation is not positive. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18035', 'image' => '20230628025640_1687923482.collage.jpg', 'article_date' => '2023-06-28 14:55:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18304', 'article_category_id' => '1', 'title' => 'Insurance Companies Collect Rs 3 Billion under Foreign Employment Insurance in 11 Months', 'sub_title' => '', 'summary' => 'June 28: Life insurance companies have collected around Rs 3 billion in insurance fees under the heading of foreign employment insurance scheme in the first 11 months of the current fiscal year (FY 2022/23). According to the Nepal Insurance Authority, 10 life insurers have collected Rs 2.96 billion in insurance fee', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 28: Life insurance companies have collected around Rs 3 billion in insurance fees under the heading of foreign employment insurance scheme in the first 11 months of the current fiscal year (FY 2022/23). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Insurance Authority, 10 life insurers have collected Rs 2.96 billion in insurance fees from foreign employment insurance policies in 11 months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Foreign Employment Act, 2064, Nepali migrant workers going for foreign employment must compulsorily have insurance. With the increase in the number of people going to foreign employment from Nepal, the insurance fee collected under the foreign employment insurance heading has increased. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Rastra Bank, the number of Nepalis who have received work permits for foreign employment in the 10 months of the current fiscal year has reached 660,155.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, Sun Nepal Life Insurance has collected the most insurance fees from foreign employment insurance. The company has collected Rs 1.2 billion insurance fee by mid-June this year. Similarly, Nepal Life stood second for collecting Rs 41.64 million under the heading of foreign employment insurance followed by IME Life Insurance which earned Rs 39.97 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajkumar Aryal, Chief Executive Officer of Sun Nepal Life Insurance, says that the government has made foreign employment insurance mandatory for overseas work, so life insurance companies are collecting significant insurance fees.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18034', 'image' => '20230628025535_INSURANCE-COVERAGE.jpg', 'article_date' => '2023-06-28 14:54:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18303', 'article_category_id' => '1', 'title' => 'Capital Market has Potential to Boost Nepal's Economic Growth: Study', 'sub_title' => '', 'summary' => 'June 28: The capital market has a high potential to lead the economic growth rate of Nepal, according to a recent study conducted by the International Finance Corporation (IFC) and Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The capital market has a high potential to lead the economic growth rate of Nepal, according to a recent study conducted by the International Finance Corporation (IFC) and Securities Board of Nepal (SEBON).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the study report, the possibility of boosting the economy is very high, especially through the expansion and diversification of the credit capital market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal will graduate into a developing country within a few years. Nepal is also committed to become a Net Zero country by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2045. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the current structure of Nepal’s capital market, the study suggested that the credit market should be expanded to help achieve those goals which require high financing and sustainable economic development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To make this a reality, Sebon and IFC are working together to comprehensively reform the bond market and to develop a program to promote corporate bond issuance. However, the study acknowledges that the credit market is very small in proportion to the overall capital market of Nepal. The main credit markets at present are money market, government bond market and corporate bond market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The currency market is very small. It does not have corporate money and market instruments. Most of the debt capital market is occupied by the government bond market. However, the corporate bond market is in a good state. It is limited to bonds issued by banks. Only limited institutional investors like insurance companies, mutual funds have entered into it,” states the report.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Martin Holtmann, country director of the IFC for Nepal, Bangladesh and Bhutan, says that there is a lot of potential in Nepal's credit market, but it has yet to be explored. He said that both domestic and foreign investors can be attracted if the process of bond issuance is made easier, book building mechanism is established and transparency is maintained. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Holtmann said that if these measures are adopted, Nepal can create a favorable environment for the growth of the credit market and new doors of investment will be opened for business and infrastructure development. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18033', 'image' => '20230628022405_1687932275.sebon.jpg', 'article_date' => '2023-06-28 14:23:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18302', 'article_category_id' => '1', 'title' => 'KMC Concerned about Citizens being Duped by Cooperatives ', 'sub_title' => 'Metropolis Issues Notice Telling Cooperatives to Hold AGM on Time ', 'summary' => 'June 28: The Kathmandu Metropolitan City (KMC) has shown its concern on regulating the cooperatives under its jurisdiction in view of the increasing incidents of depositors being cheated by the cooperatives. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 28: The Kathmandu Metropolitan City (KMC) has shown its concern on regulating the cooperatives under its jurisdiction in view of the increasing incidents of depositors being cheated by the cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC's Cooperatives Department issued a notice on Wednesday and directed the cooperatives to hold their Annual General Meeting in the designated time and in the presence of all their share members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has also urged the cooperatives to provide the KMC with information on their actual condition and transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor Balen Shah has also instructed the cooperatives to inform the KMC about their actual status and transactions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Let us be spared from financial risk and let us save cooperatives from crisis," he wrote on a social media post. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the KMC's Cooperative Department is 'flooded with' written and verbal complaints of the shareholders and managers of cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor Shah has urged the cooperatives to maintain good governance by carrying out their operation and management in a responsible, honest, disciplined, and transparent manner following the due process. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18032', 'image' => '20230628014050_cooperative problematic.jpg', 'article_date' => '2023-06-28 13:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18301', 'article_category_id' => '1', 'title' => 'Why are Investors more Attracted towards Hotel and Tourism Industry?', 'sub_title' => '', 'summary' => 'June 28: On May 25, the stock market index of the hotel and tourism group was 3,430.84 points.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 28: On May 25, the stock market index of the hotel and tourism group was 3,430.84 points. A month later, on June 27 (Tuesday), the index of this group climbed to 5,838.62 points. This is 70.18 percent more than a month ago. Out of the 13 trading groups, this group’s index has increased the most in the last one month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Why is the attraction towards hotel business increasing?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After the coronavirus pandemic subsided, the tourism industry started to pick up pace gradually. The companies in the hotel and tourism business are currently making profits. That is why investors are investing confidently in such companies. As a result, the share price of this group of companies has increased at a high rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Non-life insurance group</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, the index of non-life insurance group has increased the most after hotel and tourism sector. In other words, during this period, the investors are attracted towards non-life the insurance companies after the hotel and tourism group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During this period, the index of non-life Insurance companies increased by 36.05 percent. On May 25, the index of this group was 8,452.68, but after a month, it reached 11,499.79 points on June 27.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The attraction of investors towards this group of companies has increased after the insurance companies started to increase their capital. Some of the insurance companies have merged to increase their paid-up capital. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The companies that have not maintained the paid-up capital requirement set by the regulatory body will have to meet the requirement by issuing rights and bonus shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the minimum limit set by the Nepal Insurance Authority, the paid-up capital of non-life insurance company is Rs 2.5 billion and life insurance company is Rs 5 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18031', 'image' => '20230628011313_hotel-exterior-crowne.jpg', 'article_date' => '2023-06-28 13:11:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18300', 'article_category_id' => '1', 'title' => 'NC, Maoist Centre Issue Whip to Pass the Budget Today', 'sub_title' => '', 'summary' => 'June 28: The ruling Nepali Congress (NC) and the CPN (Maoist Center) have issued a whip to their lawmakers to pass the budget for the next fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The ruling Nepali Congress (NC) and the CPN (Maoist Center) have issued a whip to their lawmakers to pass the budget for the next fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NC and Maoists have instructed their MPs to vote in favor of the budget by compulsorily attending the Parliament meeting at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> am on Wednesday. The Parliament Secretariat has informed that it is preparing to pass the Appropriation Bill for the implementation of the budget on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Preparations for passing the Appropriation Bill have already started amid voices from within the ruling coalition that the budget should be passed only by amending it. Maoist Centre’s chief whip Hitraj Pandey has instructed the MPs to attend the Parliament meeting compulsorily and not remain neutral while passing the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice issued by Pandey reads, 'This instruction is issued in accordance with the provisions of our party's statute and the instructions of the leader of the parliamentary party and the honorable prime minister the party’s lawmakers to attend the meeting of the House of Representatives on June 28 and to vote in favor of the Appropriation Bill (Annual Budget) presented by the Government of Nepal.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat had presented the budget for the next fiscal year on May 29.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Whip of the Nepali Congress, Ramesh Lekhak, also issued an appeal to the MPs to pass the budget. His instructions mentions: "As the appropriation bill will be presented for decision at the meeting of the House of Representatives on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> am, this whip is issued to attend the meeting on that day, to vote in favor of the appropriation bill and not to remain neutral."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other coalition partners CPN (United Socialist) and Janata Samajwadi Party (JSP) are demanding that the budget should be revised. Some MPs from the Maoist Centre are also in favour of passing the budget only after amendment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the parliamentary practice, there is a tradition to pass the budget presented by the government without amendment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Prime Minister and Home Minister Narayankaji Shrestha also answered the questions raised by the parliamentarians on Sunday and said that they should get rid of the traditional practice and amend the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Parliament spokesperson Ekram Giri said that the government is going to pass the appropriation bill on Wednesday and send it to the National Assembly. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The main opposition parties CPN (UML), Rastriya Swatantra Party, Rastriya Prajatantra Party and Janamat Party have been opposing the budget in the Parliament.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18030', 'image' => '20230628120055_1683767264.jpg', 'article_date' => '2023-06-28 12:00:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18299', 'article_category_id' => '251', 'title' => 'Government Under Pressure to Reduce Current Expenses', 'sub_title' => '', 'summary' => 'June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs 5800 billion.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. Out of the total projection, the share of current expenditure will be much more than the size of capital expenditure. The commission has projected that the current expenditure will be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion and the capital expenditure will be only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This figure confirms the fact that the National Planning Commission or the government is thinking of giving continuity to the way it has been allocating budget without paying attention to the needs of the country. It seems that a lot of effort is needed to improve the structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">First of all, there is a need to make extensive reductions in the current expenses of the government. Some government offices are being scrapped and merged as per the budget announcement for the next fiscal year. By speeding up this process in the future, other unproductive offices should also be scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, it is said that the federal government has more employees than necessary. Therefore, the employees of the federal government should be adjusted at the state and local levels, and the state should not be burdened financially by just increasing the number of employees. Although there is no doubt that the state should provide social security, we cannot ignore the fact about the state’s capacity. Therefore, the spending on programs without any returns cannot be justified on any basis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The problems will exacerbate if we continue to delay the plans and programs to boost the economy. Otherwise, there is no guarantee that the state treasury will not be used up in current expenditure in the future if the current trend continues.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18029', 'image' => '20230628111524_20220725014945_rising-graph.jpeg', 'article_date' => '2023-06-28 11:14:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18298', 'article_category_id' => '1', 'title' => 'Alibaba Co-Founder Jack Ma Arrives in Kathmandu', 'sub_title' => '', 'summary' => 'Jack Ma, co-founder of Alibaba, has arrived in Kathmandu, Nepal. According to the Department of Immigration, he landed at the Tribhuvan International Airport at 2:30 PM on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">June 28: Jack Ma, co-founder of Alibaba, has arrived in Kathmandu, Nepal. According to the Department of Immigration, he landed at the Tribhuvan International Airport at 2:30 PM on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Ma's journey to Kathmandu commenced from China, with a transit stop in Dhaka, the capital of Bangladesh. He arrived in Nepal in his private aircraft, accompanied by a team. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Sources say that Jack Ma will meet with Prime Minister Pushpa Kamal Dahal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Jack Ma, whose full name is Jack Ma Yun, is a prominent figure in the business world. As the co-founder of Alibaba, one of the world's largest e-commerce companies, he has garnered immense recognition and achieved remarkable success.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Ma holds the fifth position among the wealthiest individuals in China and is globally ranked as the 63rd richest person based on his net worth.</span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18028', 'image' => '20230628060245_collage (8).jpg', 'article_date' => '2023-06-28 06:01:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18297', 'article_category_id' => '1', 'title' => 'Rastriya Banijya Bank Inaugurates 64th Extension Counter at Nepal Police Headquarters', 'sub_title' => '', 'summary' => 'Rastriya Banijya Bank has inaugurated its 64th extension counter in the premises of the Nepal Police Headquarters. Inspector General of Police, Basanta Bahadur Kunwar, inaugurated the extension counter during a ceremony held on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 28: Rastriya Banijya Bank has inaugurated its 64th extension counter in the premises of the Nepal Police Headquarters. Inspector General of Police, Basanta Bahadur Kunwar, inaugurated the extension counter during a ceremony held on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The branch office located within the premises of the Nepal Police will provide services such as cash deposits, check collection, check payments, statements, mobile banking services, ATM facilities, and more.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">During the program, Inspector General Kunwar praised the long-term cooperation between the Nepal Police and the bank, stating that the extension counter will make banking services easily accessible to the police personnel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Chief Executive Officer of the bank, Kiran Kumar Shrestha, expressed gratitude to all customers and extended his appreciation to the Nepal Police for their collaboration. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He emphasizing that the extension counter will provide a wide range of banking services to police personnel. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18027', 'image' => '20230628054412_collage (7).jpg', 'article_date' => '2023-06-28 05:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18296', 'article_category_id' => '1', 'title' => 'All Payments of Current FY Should be Done by July 9: FCGO', 'sub_title' => '', 'summary' => 'June 27: The Financial Comptroller General Office (FCGO) has asked all the district treasury controller offices and province treasury controller offices to complete the payments of economic liabilities incurred for implementation of the annual budget and programmes of the current fiscal year by July 9. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 27: The Financial Comptroller General Office (FCGO) has asked all the district treasury controller offices and province treasury controller offices to complete the payments of economic liabilities incurred for implementation of the annual budget and programmes of the current fiscal year by July 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Writing to the line agencies in the districts and provinces, the Financial Comptroller General Office has asked them to stop the payments after July 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the Fiscal Procedures and Financial Accountability Regulations, 2077 BS, the entire payments of the current fiscal year should be made a week before the end of the fiscal year and the government accounts should be closed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Financial Comptroller General Office, Shambhu Prasad Marasini, said that concerned offices and the accounts should be accountable if the payments are not made by July 9. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-06-27', 'modified' => '2023-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '18026', 'image' => '20230627103704_20230511021044_1683767264.jpg', 'article_date' => '2023-06-27 22:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '18310', 'article_category_id' => '1', 'title' => 'Heavy Rainfall with Thunderstorms Predicted for Today ', 'sub_title' => '', 'summary' => 'June 29: Heavy rainfall along with windstorm is likely to take place in some parts of the country due to the influence of the monsoon wind. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 29: Heavy rainfall along with windstorm is likely to take place in some parts of the country due to the influence of the monsoon wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, light to medium rainfall is taking place in some areas of Karnali, Gandaki, Bagmati and Koshi provinces today (Thursday). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be general to complete changes in weather pattern across the country this afternoon. Light to moderate rainfall with thunderstorm and lightning is likely to occur in a few places of Sudurpaschim, Karnali, Lumbini, Gandaki and Bagmati provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division informed that heavy rainfall is predicted in some areas of Karnali, Lumbini and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Storm is likely to take place in several areas of Lumbini, Gandaki and Bagmati provinces and in some areas of remaining provinces, stated a bulletin published by the division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be general to complete changes in weather across the country tonight. According to the division, light to moderate rain with thunderstorms and lightning is likely to take place at some areas of Lumbini, Gandaki, Madhes and Koshi province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that surface and air travel, health, agriculture and tourism sectors will possibly be affected due to heavy rainfall with thunderstorms, the division has urged one and all to adopt necessary safety precaution. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18040', 'image' => '20230629103148_20211018080919_20210613043257_2021SECVPF.jpeg', 'article_date' => '2023-06-29 10:31:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18309', 'article_category_id' => '1', 'title' => 'Bill to Raise National Debt Approved', 'sub_title' => '', 'summary' => 'The meeting of House of Representatives has approved an important proposal regarding the 'Bill to raise national debt, 2080'. The proposal, presented by Finance Minister Dr. Prakash Sharan Mahat, received a majority of votes in favor on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">June 29: The meeting of House of Representatives has approved an important proposal regarding the 'Bill to raise national debt, 2080'. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The proposal, presented by Finance Minister Dr. Prakash Sharan Mahat, received a majority of votes in favor on Wednesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">During the meeting, several members of parliament, including Dr. Swarnim Wagle, Gokarna Bista, Prem Suwal, Sumana Shrestha, Ashok Kumar Chaudhary, and Amrit Lal Rajbamshi, participated in the discussion on the theoretical aspects of the bill. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Queries raised by the members were addressed by Finance Minister Dr. Mahat, who assured that the government had been mindful of maintaining the national debt within a manageable limit and making efforts to reduce the burden.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Dr. Mahat emphasized that the government's focus was on effectively utilizing the loans received, rather than solely focusing on the volume of loans.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Minister Mahat clarified that the government has established a policy to carefully plan and allocate multilateral and bilateral loans to specific sectors after conducting thorough groundwork. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, he mentioned that loans with subsidized interest rates below one percent were given priority.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Regarding the utilization of the loans, Dr. Mahat highlighted that the government intended to invest them primarily in infrastructure development, particularly in the tourism and energy sectors.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The House of Representatives is scheduled to reconvene on Sunday, July 2, at 11:00 am for further proceedings. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18039', 'image' => '20230629060303_collage (1).jpg', 'article_date' => '2023-06-29 06:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18308', 'article_category_id' => '1', 'title' => 'Nepal, and Mongolia Sign Agreement on Wool Production and Export', 'sub_title' => '', 'summary' => 'Nepal and Mongolia have inked an agreement aimed at fostering collaboration in the production and export of wool.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 29: Nepal and Mongolia have inked an agreement aimed at fostering collaboration in the production and export of wool.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The agreement, which was signed during the World Export Development Forum 2023 in Ulaanbaatar, Mongolia, on Wednesday, brings together Nepali entrepreneurs and Mongolian officials with the goal of sharing knowledge and resources related to pashmina wool.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Nepal Pashmina Industry Association and the Research and Development Institute of Light Industries of Mongolia have signed a memorandum of understanding. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This agreement focuses on enhancing cooperation in the areas of pashmina wool production, quality control, and analysis. By exchanging expertise and resources, both countries aim to further develop their respective wool industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The memorandum of understanding will be effective for five years, with the possibility of extension through mutual agreement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The signing ceremony took place in the presence of Madhu Kumar Marasini, Secretary at the Ministry of Industry, Commerce and Supply of Nepal, and Jambaltseren Tumur-Uya, State Secretary of the Mongolian Ministry of Food, Agriculture and Light Industry.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18038', 'image' => '20230629054948_collage.jpg', 'article_date' => '2023-06-29 05:48:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18307', 'article_category_id' => '1', 'title' => 'HoR Endorses Appropriation Bill, 2080 By Majority', 'sub_title' => '', 'summary' => 'The House of Representatives (HoR) has approved the 'Appropriation Bill, 2080' with a majority of votes. The bill was presented by Minister for Finance, Dr. Prakash Sharan Mahat, during the HoR meeting on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">June 28: The House of Representatives (HoR) has approved the 'Appropriation Bill, 2080' with a majority of votes. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The bill was presented by Minister for Finance, Dr. Prakash Sharan Mahat, during the HoR meeting on Wednesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">A total of 147 HoR members voted in favor of the bill, while 108 members voted against it. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaker Dev Raj Ghimire declared the approval of the appropriation bill, as it received the majority of votes from the HoR. Out of the 255 HoR members present in the meeting, 255 voted on the bill. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">As part of the voting process, Speaker Ghimire directed the secretariat to ring the alarming bell for five minutes before the vote division. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Prior to the voting, Finance Minister Dr. Mahat presented a motion seeking approval for the 'Appropriation Bill, 2080'. Speaker Ghimire proposed a voice vote with options of 'yes' or 'no'.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> Recognizing the majority in support of the proposal, Speaker Ghimire announced the endorsement of the appropriation bill. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaker Ghimire had initiated the voting process after CPN-UML's whip Mahesh Bartaula demanded for the same. </span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18037', 'image' => '20230628062709_collage (56).jpg', 'article_date' => '2023-06-28 18:25:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18306', 'article_category_id' => '1', 'title' => 'Nabil Bank Honoured with Infosys Innovation Awards 2023', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has been felicitated with the 'Infosys Finacle Innovation Awards 2023'. Nabil Bank received the Platinum Award in the Infosys Finacle Innovation Award 2023 under the Product Innovation category for the inception of nBank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">June 28: Nabil Bank Limited has been felicitated with the 'Infosys Finacle Innovation Awards 2023'. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Nabil Bank received the Platinum Award in the Infosys Finacle Innovation Award 2023 under the Product Innovation category for the inception of nBank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Nabil Bank emerged as the winner among more than 200 nominations in 10 categories, making it a notable achievement for the bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The Chief Executive Officer (CEO) of Nabil Bank, Gyanendra Prasad Dhungana, stated that this award is the outcome of bank's digital banking and innovative thinking.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The award has given additional motivation to deliver superior, simple, and excellent banking services to the bank's customers, employees, investors, and the larger community.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">nBank is the first mobile banking platform in Nepal to provide digital banking services without customers being physically present in any branch.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Customers can avail themselves of banking services with the bank's cooperation without filling any physical forms or visiting any branches. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The award has emboldened the bank to provide more innovative digital services in the days ahead, according to the bank.</span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18036', 'image' => '20230628050830_collage (55).jpg', 'article_date' => '2023-06-28 17:06:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18305', 'article_category_id' => '1', 'title' => 'Private Sector Alarmed by Government’s Decision to Increase Minimum Wage', 'sub_title' => '', 'summary' => 'June 28: The private sector has warned the government that if it increased the wages of the workers to an unsustainable level, they will hand over the keys of their industries and businesses to the government.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The private sector has warned the government that if it increased the wages of the workers to an unsustainable level, they will hand over the keys of their industries and businesses to the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Employers who participated in an interaction on minimum wages organized by the Federation of Nepaesel Chamber of Commerce and Industry in Birgunj of Madhesh Province on Tuesday clarified that the wages cannot be increased as the industries are running at less than half their capacity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They expressed concern that the government is trying to increase the minimum wage at a time when the industries and businesses are facing all kinds of problems due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI’s Babu Kaji Karki claimed that if wages are increased unilaterally without the consent of the private sector, which contributes </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">85</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to the total employment creation, it will cause an accident for the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The interaction organized outside the capital to understand the views of the industries and entrepreneurs regarding the government's plan to increase the minimum wage in the next fiscal year shed light that the labour cost has been rising due to the increment in minimum wages and collective bargaining every two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders said that the economic indicators do not show a comfortable economic situation at present. Due to economic contraction, the employers are not ready to take the burden of salary hike when they are forced to cut employment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If forced by the government, entrepreneurs will have to give up the keys to their business, said Karki. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector is alarmed by the government’s of plans to double the current minimum wage of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per month</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Some say that the minimum wage will be increased to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> while others say it will go as high as Rs</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If this is the case, the industries will be closed,” says Karki.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector has warned that the practice of hiring Indian workers will increase if the salary burden becomes unsustainable. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Lath, outgoing president of the Madhesh chapter of FNCCI, said that although the government is going to increase the wages of the workers, it seems indifferent about increasing the productivity. “Entrepreneurs turn to automatic technology when they cannot bear the burden of wages. The day may come when employment opportunities will be closed due to this," he said, who is also an advisor to the FNCCI’s Employers Council.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashok Kumar Temani, president of the Madhesh chapter of FNCCI, demanded that the government should also contribute if the salary is to be increased. “Modality can be made in the form of contribution," said Temani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector says that wages should be increased at different rates depending on the geographical situation and cost of the city where the workers are employed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We have an unreasonable practice of setting same wages in all the places,” he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anil Kumar Agarwal, president of Birgunj Chamber of Industry and Commerce, said that the industry and trade has shrunk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"To overcome the crisis of coronavirus pandemic, we have to find many ways to cut expenses. If there is an increase in wages, there is no option but to close the enterprises," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hari Gautam, coordinator of the FNCCI Employers' Committee, said that although the economy is said to have recovered, the situation is not positive. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18035', 'image' => '20230628025640_1687923482.collage.jpg', 'article_date' => '2023-06-28 14:55:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18304', 'article_category_id' => '1', 'title' => 'Insurance Companies Collect Rs 3 Billion under Foreign Employment Insurance in 11 Months', 'sub_title' => '', 'summary' => 'June 28: Life insurance companies have collected around Rs 3 billion in insurance fees under the heading of foreign employment insurance scheme in the first 11 months of the current fiscal year (FY 2022/23). According to the Nepal Insurance Authority, 10 life insurers have collected Rs 2.96 billion in insurance fee', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 28: Life insurance companies have collected around Rs 3 billion in insurance fees under the heading of foreign employment insurance scheme in the first 11 months of the current fiscal year (FY 2022/23). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Insurance Authority, 10 life insurers have collected Rs 2.96 billion in insurance fees from foreign employment insurance policies in 11 months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Foreign Employment Act, 2064, Nepali migrant workers going for foreign employment must compulsorily have insurance. With the increase in the number of people going to foreign employment from Nepal, the insurance fee collected under the foreign employment insurance heading has increased. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Rastra Bank, the number of Nepalis who have received work permits for foreign employment in the 10 months of the current fiscal year has reached 660,155.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, Sun Nepal Life Insurance has collected the most insurance fees from foreign employment insurance. The company has collected Rs 1.2 billion insurance fee by mid-June this year. Similarly, Nepal Life stood second for collecting Rs 41.64 million under the heading of foreign employment insurance followed by IME Life Insurance which earned Rs 39.97 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajkumar Aryal, Chief Executive Officer of Sun Nepal Life Insurance, says that the government has made foreign employment insurance mandatory for overseas work, so life insurance companies are collecting significant insurance fees.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18034', 'image' => '20230628025535_INSURANCE-COVERAGE.jpg', 'article_date' => '2023-06-28 14:54:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18303', 'article_category_id' => '1', 'title' => 'Capital Market has Potential to Boost Nepal's Economic Growth: Study', 'sub_title' => '', 'summary' => 'June 28: The capital market has a high potential to lead the economic growth rate of Nepal, according to a recent study conducted by the International Finance Corporation (IFC) and Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The capital market has a high potential to lead the economic growth rate of Nepal, according to a recent study conducted by the International Finance Corporation (IFC) and Securities Board of Nepal (SEBON).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the study report, the possibility of boosting the economy is very high, especially through the expansion and diversification of the credit capital market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal will graduate into a developing country within a few years. Nepal is also committed to become a Net Zero country by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2045. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the current structure of Nepal’s capital market, the study suggested that the credit market should be expanded to help achieve those goals which require high financing and sustainable economic development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To make this a reality, Sebon and IFC are working together to comprehensively reform the bond market and to develop a program to promote corporate bond issuance. However, the study acknowledges that the credit market is very small in proportion to the overall capital market of Nepal. The main credit markets at present are money market, government bond market and corporate bond market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The currency market is very small. It does not have corporate money and market instruments. Most of the debt capital market is occupied by the government bond market. However, the corporate bond market is in a good state. It is limited to bonds issued by banks. Only limited institutional investors like insurance companies, mutual funds have entered into it,” states the report.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Martin Holtmann, country director of the IFC for Nepal, Bangladesh and Bhutan, says that there is a lot of potential in Nepal's credit market, but it has yet to be explored. He said that both domestic and foreign investors can be attracted if the process of bond issuance is made easier, book building mechanism is established and transparency is maintained. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Holtmann said that if these measures are adopted, Nepal can create a favorable environment for the growth of the credit market and new doors of investment will be opened for business and infrastructure development. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18033', 'image' => '20230628022405_1687932275.sebon.jpg', 'article_date' => '2023-06-28 14:23:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18302', 'article_category_id' => '1', 'title' => 'KMC Concerned about Citizens being Duped by Cooperatives ', 'sub_title' => 'Metropolis Issues Notice Telling Cooperatives to Hold AGM on Time ', 'summary' => 'June 28: The Kathmandu Metropolitan City (KMC) has shown its concern on regulating the cooperatives under its jurisdiction in view of the increasing incidents of depositors being cheated by the cooperatives. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 28: The Kathmandu Metropolitan City (KMC) has shown its concern on regulating the cooperatives under its jurisdiction in view of the increasing incidents of depositors being cheated by the cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC's Cooperatives Department issued a notice on Wednesday and directed the cooperatives to hold their Annual General Meeting in the designated time and in the presence of all their share members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has also urged the cooperatives to provide the KMC with information on their actual condition and transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor Balen Shah has also instructed the cooperatives to inform the KMC about their actual status and transactions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Let us be spared from financial risk and let us save cooperatives from crisis," he wrote on a social media post. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the KMC's Cooperative Department is 'flooded with' written and verbal complaints of the shareholders and managers of cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor Shah has urged the cooperatives to maintain good governance by carrying out their operation and management in a responsible, honest, disciplined, and transparent manner following the due process. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18032', 'image' => '20230628014050_cooperative problematic.jpg', 'article_date' => '2023-06-28 13:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18301', 'article_category_id' => '1', 'title' => 'Why are Investors more Attracted towards Hotel and Tourism Industry?', 'sub_title' => '', 'summary' => 'June 28: On May 25, the stock market index of the hotel and tourism group was 3,430.84 points.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 28: On May 25, the stock market index of the hotel and tourism group was 3,430.84 points. A month later, on June 27 (Tuesday), the index of this group climbed to 5,838.62 points. This is 70.18 percent more than a month ago. Out of the 13 trading groups, this group’s index has increased the most in the last one month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Why is the attraction towards hotel business increasing?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After the coronavirus pandemic subsided, the tourism industry started to pick up pace gradually. The companies in the hotel and tourism business are currently making profits. That is why investors are investing confidently in such companies. As a result, the share price of this group of companies has increased at a high rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Non-life insurance group</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, the index of non-life insurance group has increased the most after hotel and tourism sector. In other words, during this period, the investors are attracted towards non-life the insurance companies after the hotel and tourism group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During this period, the index of non-life Insurance companies increased by 36.05 percent. On May 25, the index of this group was 8,452.68, but after a month, it reached 11,499.79 points on June 27.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The attraction of investors towards this group of companies has increased after the insurance companies started to increase their capital. Some of the insurance companies have merged to increase their paid-up capital. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The companies that have not maintained the paid-up capital requirement set by the regulatory body will have to meet the requirement by issuing rights and bonus shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the minimum limit set by the Nepal Insurance Authority, the paid-up capital of non-life insurance company is Rs 2.5 billion and life insurance company is Rs 5 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18031', 'image' => '20230628011313_hotel-exterior-crowne.jpg', 'article_date' => '2023-06-28 13:11:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18300', 'article_category_id' => '1', 'title' => 'NC, Maoist Centre Issue Whip to Pass the Budget Today', 'sub_title' => '', 'summary' => 'June 28: The ruling Nepali Congress (NC) and the CPN (Maoist Center) have issued a whip to their lawmakers to pass the budget for the next fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The ruling Nepali Congress (NC) and the CPN (Maoist Center) have issued a whip to their lawmakers to pass the budget for the next fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NC and Maoists have instructed their MPs to vote in favor of the budget by compulsorily attending the Parliament meeting at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> am on Wednesday. The Parliament Secretariat has informed that it is preparing to pass the Appropriation Bill for the implementation of the budget on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Preparations for passing the Appropriation Bill have already started amid voices from within the ruling coalition that the budget should be passed only by amending it. Maoist Centre’s chief whip Hitraj Pandey has instructed the MPs to attend the Parliament meeting compulsorily and not remain neutral while passing the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice issued by Pandey reads, 'This instruction is issued in accordance with the provisions of our party's statute and the instructions of the leader of the parliamentary party and the honorable prime minister the party’s lawmakers to attend the meeting of the House of Representatives on June 28 and to vote in favor of the Appropriation Bill (Annual Budget) presented by the Government of Nepal.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat had presented the budget for the next fiscal year on May 29.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Whip of the Nepali Congress, Ramesh Lekhak, also issued an appeal to the MPs to pass the budget. His instructions mentions: "As the appropriation bill will be presented for decision at the meeting of the House of Representatives on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> am, this whip is issued to attend the meeting on that day, to vote in favor of the appropriation bill and not to remain neutral."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other coalition partners CPN (United Socialist) and Janata Samajwadi Party (JSP) are demanding that the budget should be revised. Some MPs from the Maoist Centre are also in favour of passing the budget only after amendment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the parliamentary practice, there is a tradition to pass the budget presented by the government without amendment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Prime Minister and Home Minister Narayankaji Shrestha also answered the questions raised by the parliamentarians on Sunday and said that they should get rid of the traditional practice and amend the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Parliament spokesperson Ekram Giri said that the government is going to pass the appropriation bill on Wednesday and send it to the National Assembly. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The main opposition parties CPN (UML), Rastriya Swatantra Party, Rastriya Prajatantra Party and Janamat Party have been opposing the budget in the Parliament.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18030', 'image' => '20230628120055_1683767264.jpg', 'article_date' => '2023-06-28 12:00:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18299', 'article_category_id' => '251', 'title' => 'Government Under Pressure to Reduce Current Expenses', 'sub_title' => '', 'summary' => 'June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs 5800 billion.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. Out of the total projection, the share of current expenditure will be much more than the size of capital expenditure. The commission has projected that the current expenditure will be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion and the capital expenditure will be only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This figure confirms the fact that the National Planning Commission or the government is thinking of giving continuity to the way it has been allocating budget without paying attention to the needs of the country. It seems that a lot of effort is needed to improve the structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">First of all, there is a need to make extensive reductions in the current expenses of the government. Some government offices are being scrapped and merged as per the budget announcement for the next fiscal year. By speeding up this process in the future, other unproductive offices should also be scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, it is said that the federal government has more employees than necessary. Therefore, the employees of the federal government should be adjusted at the state and local levels, and the state should not be burdened financially by just increasing the number of employees. Although there is no doubt that the state should provide social security, we cannot ignore the fact about the state’s capacity. Therefore, the spending on programs without any returns cannot be justified on any basis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The problems will exacerbate if we continue to delay the plans and programs to boost the economy. Otherwise, there is no guarantee that the state treasury will not be used up in current expenditure in the future if the current trend continues.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18029', 'image' => '20230628111524_20220725014945_rising-graph.jpeg', 'article_date' => '2023-06-28 11:14:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18298', 'article_category_id' => '1', 'title' => 'Alibaba Co-Founder Jack Ma Arrives in Kathmandu', 'sub_title' => '', 'summary' => 'Jack Ma, co-founder of Alibaba, has arrived in Kathmandu, Nepal. According to the Department of Immigration, he landed at the Tribhuvan International Airport at 2:30 PM on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">June 28: Jack Ma, co-founder of Alibaba, has arrived in Kathmandu, Nepal. According to the Department of Immigration, he landed at the Tribhuvan International Airport at 2:30 PM on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Ma's journey to Kathmandu commenced from China, with a transit stop in Dhaka, the capital of Bangladesh. He arrived in Nepal in his private aircraft, accompanied by a team. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Sources say that Jack Ma will meet with Prime Minister Pushpa Kamal Dahal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Jack Ma, whose full name is Jack Ma Yun, is a prominent figure in the business world. As the co-founder of Alibaba, one of the world's largest e-commerce companies, he has garnered immense recognition and achieved remarkable success.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Ma holds the fifth position among the wealthiest individuals in China and is globally ranked as the 63rd richest person based on his net worth.</span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18028', 'image' => '20230628060245_collage (8).jpg', 'article_date' => '2023-06-28 06:01:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18297', 'article_category_id' => '1', 'title' => 'Rastriya Banijya Bank Inaugurates 64th Extension Counter at Nepal Police Headquarters', 'sub_title' => '', 'summary' => 'Rastriya Banijya Bank has inaugurated its 64th extension counter in the premises of the Nepal Police Headquarters. Inspector General of Police, Basanta Bahadur Kunwar, inaugurated the extension counter during a ceremony held on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 28: Rastriya Banijya Bank has inaugurated its 64th extension counter in the premises of the Nepal Police Headquarters. Inspector General of Police, Basanta Bahadur Kunwar, inaugurated the extension counter during a ceremony held on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The branch office located within the premises of the Nepal Police will provide services such as cash deposits, check collection, check payments, statements, mobile banking services, ATM facilities, and more.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">During the program, Inspector General Kunwar praised the long-term cooperation between the Nepal Police and the bank, stating that the extension counter will make banking services easily accessible to the police personnel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Chief Executive Officer of the bank, Kiran Kumar Shrestha, expressed gratitude to all customers and extended his appreciation to the Nepal Police for their collaboration. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He emphasizing that the extension counter will provide a wide range of banking services to police personnel. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18027', 'image' => '20230628054412_collage (7).jpg', 'article_date' => '2023-06-28 05:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18296', 'article_category_id' => '1', 'title' => 'All Payments of Current FY Should be Done by July 9: FCGO', 'sub_title' => '', 'summary' => 'June 27: The Financial Comptroller General Office (FCGO) has asked all the district treasury controller offices and province treasury controller offices to complete the payments of economic liabilities incurred for implementation of the annual budget and programmes of the current fiscal year by July 9. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 27: The Financial Comptroller General Office (FCGO) has asked all the district treasury controller offices and province treasury controller offices to complete the payments of economic liabilities incurred for implementation of the annual budget and programmes of the current fiscal year by July 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Writing to the line agencies in the districts and provinces, the Financial Comptroller General Office has asked them to stop the payments after July 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the Fiscal Procedures and Financial Accountability Regulations, 2077 BS, the entire payments of the current fiscal year should be made a week before the end of the fiscal year and the government accounts should be closed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Financial Comptroller General Office, Shambhu Prasad Marasini, said that concerned offices and the accounts should be accountable if the payments are not made by July 9. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-06-27', 'modified' => '2023-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '18026', 'image' => '20230627103704_20230511021044_1683767264.jpg', 'article_date' => '2023-06-27 22:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '18310', 'article_category_id' => '1', 'title' => 'Heavy Rainfall with Thunderstorms Predicted for Today ', 'sub_title' => '', 'summary' => 'June 29: Heavy rainfall along with windstorm is likely to take place in some parts of the country due to the influence of the monsoon wind. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 29: Heavy rainfall along with windstorm is likely to take place in some parts of the country due to the influence of the monsoon wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, light to medium rainfall is taking place in some areas of Karnali, Gandaki, Bagmati and Koshi provinces today (Thursday). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be general to complete changes in weather pattern across the country this afternoon. Light to moderate rainfall with thunderstorm and lightning is likely to occur in a few places of Sudurpaschim, Karnali, Lumbini, Gandaki and Bagmati provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division informed that heavy rainfall is predicted in some areas of Karnali, Lumbini and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Storm is likely to take place in several areas of Lumbini, Gandaki and Bagmati provinces and in some areas of remaining provinces, stated a bulletin published by the division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be general to complete changes in weather across the country tonight. According to the division, light to moderate rain with thunderstorms and lightning is likely to take place at some areas of Lumbini, Gandaki, Madhes and Koshi province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that surface and air travel, health, agriculture and tourism sectors will possibly be affected due to heavy rainfall with thunderstorms, the division has urged one and all to adopt necessary safety precaution. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18040', 'image' => '20230629103148_20211018080919_20210613043257_2021SECVPF.jpeg', 'article_date' => '2023-06-29 10:31:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18309', 'article_category_id' => '1', 'title' => 'Bill to Raise National Debt Approved', 'sub_title' => '', 'summary' => 'The meeting of House of Representatives has approved an important proposal regarding the 'Bill to raise national debt, 2080'. The proposal, presented by Finance Minister Dr. Prakash Sharan Mahat, received a majority of votes in favor on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">June 29: The meeting of House of Representatives has approved an important proposal regarding the 'Bill to raise national debt, 2080'. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The proposal, presented by Finance Minister Dr. Prakash Sharan Mahat, received a majority of votes in favor on Wednesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">During the meeting, several members of parliament, including Dr. Swarnim Wagle, Gokarna Bista, Prem Suwal, Sumana Shrestha, Ashok Kumar Chaudhary, and Amrit Lal Rajbamshi, participated in the discussion on the theoretical aspects of the bill. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Queries raised by the members were addressed by Finance Minister Dr. Mahat, who assured that the government had been mindful of maintaining the national debt within a manageable limit and making efforts to reduce the burden.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Dr. Mahat emphasized that the government's focus was on effectively utilizing the loans received, rather than solely focusing on the volume of loans.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Minister Mahat clarified that the government has established a policy to carefully plan and allocate multilateral and bilateral loans to specific sectors after conducting thorough groundwork. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, he mentioned that loans with subsidized interest rates below one percent were given priority.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Regarding the utilization of the loans, Dr. Mahat highlighted that the government intended to invest them primarily in infrastructure development, particularly in the tourism and energy sectors.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The House of Representatives is scheduled to reconvene on Sunday, July 2, at 11:00 am for further proceedings. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18039', 'image' => '20230629060303_collage (1).jpg', 'article_date' => '2023-06-29 06:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18308', 'article_category_id' => '1', 'title' => 'Nepal, and Mongolia Sign Agreement on Wool Production and Export', 'sub_title' => '', 'summary' => 'Nepal and Mongolia have inked an agreement aimed at fostering collaboration in the production and export of wool.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 29: Nepal and Mongolia have inked an agreement aimed at fostering collaboration in the production and export of wool.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The agreement, which was signed during the World Export Development Forum 2023 in Ulaanbaatar, Mongolia, on Wednesday, brings together Nepali entrepreneurs and Mongolian officials with the goal of sharing knowledge and resources related to pashmina wool.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Nepal Pashmina Industry Association and the Research and Development Institute of Light Industries of Mongolia have signed a memorandum of understanding. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This agreement focuses on enhancing cooperation in the areas of pashmina wool production, quality control, and analysis. By exchanging expertise and resources, both countries aim to further develop their respective wool industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The memorandum of understanding will be effective for five years, with the possibility of extension through mutual agreement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The signing ceremony took place in the presence of Madhu Kumar Marasini, Secretary at the Ministry of Industry, Commerce and Supply of Nepal, and Jambaltseren Tumur-Uya, State Secretary of the Mongolian Ministry of Food, Agriculture and Light Industry.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18038', 'image' => '20230629054948_collage.jpg', 'article_date' => '2023-06-29 05:48:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18307', 'article_category_id' => '1', 'title' => 'HoR Endorses Appropriation Bill, 2080 By Majority', 'sub_title' => '', 'summary' => 'The House of Representatives (HoR) has approved the 'Appropriation Bill, 2080' with a majority of votes. The bill was presented by Minister for Finance, Dr. Prakash Sharan Mahat, during the HoR meeting on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">June 28: The House of Representatives (HoR) has approved the 'Appropriation Bill, 2080' with a majority of votes. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The bill was presented by Minister for Finance, Dr. Prakash Sharan Mahat, during the HoR meeting on Wednesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">A total of 147 HoR members voted in favor of the bill, while 108 members voted against it. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaker Dev Raj Ghimire declared the approval of the appropriation bill, as it received the majority of votes from the HoR. Out of the 255 HoR members present in the meeting, 255 voted on the bill. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">As part of the voting process, Speaker Ghimire directed the secretariat to ring the alarming bell for five minutes before the vote division. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Prior to the voting, Finance Minister Dr. Mahat presented a motion seeking approval for the 'Appropriation Bill, 2080'. Speaker Ghimire proposed a voice vote with options of 'yes' or 'no'.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> Recognizing the majority in support of the proposal, Speaker Ghimire announced the endorsement of the appropriation bill. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaker Ghimire had initiated the voting process after CPN-UML's whip Mahesh Bartaula demanded for the same. </span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18037', 'image' => '20230628062709_collage (56).jpg', 'article_date' => '2023-06-28 18:25:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18306', 'article_category_id' => '1', 'title' => 'Nabil Bank Honoured with Infosys Innovation Awards 2023', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has been felicitated with the 'Infosys Finacle Innovation Awards 2023'. Nabil Bank received the Platinum Award in the Infosys Finacle Innovation Award 2023 under the Product Innovation category for the inception of nBank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">June 28: Nabil Bank Limited has been felicitated with the 'Infosys Finacle Innovation Awards 2023'. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Nabil Bank received the Platinum Award in the Infosys Finacle Innovation Award 2023 under the Product Innovation category for the inception of nBank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Nabil Bank emerged as the winner among more than 200 nominations in 10 categories, making it a notable achievement for the bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The Chief Executive Officer (CEO) of Nabil Bank, Gyanendra Prasad Dhungana, stated that this award is the outcome of bank's digital banking and innovative thinking.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The award has given additional motivation to deliver superior, simple, and excellent banking services to the bank's customers, employees, investors, and the larger community.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">nBank is the first mobile banking platform in Nepal to provide digital banking services without customers being physically present in any branch.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Customers can avail themselves of banking services with the bank's cooperation without filling any physical forms or visiting any branches. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The award has emboldened the bank to provide more innovative digital services in the days ahead, according to the bank.</span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18036', 'image' => '20230628050830_collage (55).jpg', 'article_date' => '2023-06-28 17:06:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18305', 'article_category_id' => '1', 'title' => 'Private Sector Alarmed by Government’s Decision to Increase Minimum Wage', 'sub_title' => '', 'summary' => 'June 28: The private sector has warned the government that if it increased the wages of the workers to an unsustainable level, they will hand over the keys of their industries and businesses to the government.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The private sector has warned the government that if it increased the wages of the workers to an unsustainable level, they will hand over the keys of their industries and businesses to the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Employers who participated in an interaction on minimum wages organized by the Federation of Nepaesel Chamber of Commerce and Industry in Birgunj of Madhesh Province on Tuesday clarified that the wages cannot be increased as the industries are running at less than half their capacity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They expressed concern that the government is trying to increase the minimum wage at a time when the industries and businesses are facing all kinds of problems due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI’s Babu Kaji Karki claimed that if wages are increased unilaterally without the consent of the private sector, which contributes </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">85</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to the total employment creation, it will cause an accident for the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The interaction organized outside the capital to understand the views of the industries and entrepreneurs regarding the government's plan to increase the minimum wage in the next fiscal year shed light that the labour cost has been rising due to the increment in minimum wages and collective bargaining every two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders said that the economic indicators do not show a comfortable economic situation at present. Due to economic contraction, the employers are not ready to take the burden of salary hike when they are forced to cut employment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If forced by the government, entrepreneurs will have to give up the keys to their business, said Karki. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector is alarmed by the government’s of plans to double the current minimum wage of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per month</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Some say that the minimum wage will be increased to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> while others say it will go as high as Rs</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If this is the case, the industries will be closed,” says Karki.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector has warned that the practice of hiring Indian workers will increase if the salary burden becomes unsustainable. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Lath, outgoing president of the Madhesh chapter of FNCCI, said that although the government is going to increase the wages of the workers, it seems indifferent about increasing the productivity. “Entrepreneurs turn to automatic technology when they cannot bear the burden of wages. The day may come when employment opportunities will be closed due to this," he said, who is also an advisor to the FNCCI’s Employers Council.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashok Kumar Temani, president of the Madhesh chapter of FNCCI, demanded that the government should also contribute if the salary is to be increased. “Modality can be made in the form of contribution," said Temani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector says that wages should be increased at different rates depending on the geographical situation and cost of the city where the workers are employed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We have an unreasonable practice of setting same wages in all the places,” he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anil Kumar Agarwal, president of Birgunj Chamber of Industry and Commerce, said that the industry and trade has shrunk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"To overcome the crisis of coronavirus pandemic, we have to find many ways to cut expenses. If there is an increase in wages, there is no option but to close the enterprises," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hari Gautam, coordinator of the FNCCI Employers' Committee, said that although the economy is said to have recovered, the situation is not positive. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18035', 'image' => '20230628025640_1687923482.collage.jpg', 'article_date' => '2023-06-28 14:55:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18304', 'article_category_id' => '1', 'title' => 'Insurance Companies Collect Rs 3 Billion under Foreign Employment Insurance in 11 Months', 'sub_title' => '', 'summary' => 'June 28: Life insurance companies have collected around Rs 3 billion in insurance fees under the heading of foreign employment insurance scheme in the first 11 months of the current fiscal year (FY 2022/23). According to the Nepal Insurance Authority, 10 life insurers have collected Rs 2.96 billion in insurance fee', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 28: Life insurance companies have collected around Rs 3 billion in insurance fees under the heading of foreign employment insurance scheme in the first 11 months of the current fiscal year (FY 2022/23). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Insurance Authority, 10 life insurers have collected Rs 2.96 billion in insurance fees from foreign employment insurance policies in 11 months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Foreign Employment Act, 2064, Nepali migrant workers going for foreign employment must compulsorily have insurance. With the increase in the number of people going to foreign employment from Nepal, the insurance fee collected under the foreign employment insurance heading has increased. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Rastra Bank, the number of Nepalis who have received work permits for foreign employment in the 10 months of the current fiscal year has reached 660,155.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, Sun Nepal Life Insurance has collected the most insurance fees from foreign employment insurance. The company has collected Rs 1.2 billion insurance fee by mid-June this year. Similarly, Nepal Life stood second for collecting Rs 41.64 million under the heading of foreign employment insurance followed by IME Life Insurance which earned Rs 39.97 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajkumar Aryal, Chief Executive Officer of Sun Nepal Life Insurance, says that the government has made foreign employment insurance mandatory for overseas work, so life insurance companies are collecting significant insurance fees.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18034', 'image' => '20230628025535_INSURANCE-COVERAGE.jpg', 'article_date' => '2023-06-28 14:54:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18303', 'article_category_id' => '1', 'title' => 'Capital Market has Potential to Boost Nepal's Economic Growth: Study', 'sub_title' => '', 'summary' => 'June 28: The capital market has a high potential to lead the economic growth rate of Nepal, according to a recent study conducted by the International Finance Corporation (IFC) and Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The capital market has a high potential to lead the economic growth rate of Nepal, according to a recent study conducted by the International Finance Corporation (IFC) and Securities Board of Nepal (SEBON).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the study report, the possibility of boosting the economy is very high, especially through the expansion and diversification of the credit capital market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal will graduate into a developing country within a few years. Nepal is also committed to become a Net Zero country by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2045. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the current structure of Nepal’s capital market, the study suggested that the credit market should be expanded to help achieve those goals which require high financing and sustainable economic development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To make this a reality, Sebon and IFC are working together to comprehensively reform the bond market and to develop a program to promote corporate bond issuance. However, the study acknowledges that the credit market is very small in proportion to the overall capital market of Nepal. The main credit markets at present are money market, government bond market and corporate bond market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The currency market is very small. It does not have corporate money and market instruments. Most of the debt capital market is occupied by the government bond market. However, the corporate bond market is in a good state. It is limited to bonds issued by banks. Only limited institutional investors like insurance companies, mutual funds have entered into it,” states the report.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Martin Holtmann, country director of the IFC for Nepal, Bangladesh and Bhutan, says that there is a lot of potential in Nepal's credit market, but it has yet to be explored. He said that both domestic and foreign investors can be attracted if the process of bond issuance is made easier, book building mechanism is established and transparency is maintained. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Holtmann said that if these measures are adopted, Nepal can create a favorable environment for the growth of the credit market and new doors of investment will be opened for business and infrastructure development. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18033', 'image' => '20230628022405_1687932275.sebon.jpg', 'article_date' => '2023-06-28 14:23:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18302', 'article_category_id' => '1', 'title' => 'KMC Concerned about Citizens being Duped by Cooperatives ', 'sub_title' => 'Metropolis Issues Notice Telling Cooperatives to Hold AGM on Time ', 'summary' => 'June 28: The Kathmandu Metropolitan City (KMC) has shown its concern on regulating the cooperatives under its jurisdiction in view of the increasing incidents of depositors being cheated by the cooperatives. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 28: The Kathmandu Metropolitan City (KMC) has shown its concern on regulating the cooperatives under its jurisdiction in view of the increasing incidents of depositors being cheated by the cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC's Cooperatives Department issued a notice on Wednesday and directed the cooperatives to hold their Annual General Meeting in the designated time and in the presence of all their share members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has also urged the cooperatives to provide the KMC with information on their actual condition and transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor Balen Shah has also instructed the cooperatives to inform the KMC about their actual status and transactions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Let us be spared from financial risk and let us save cooperatives from crisis," he wrote on a social media post. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the KMC's Cooperative Department is 'flooded with' written and verbal complaints of the shareholders and managers of cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor Shah has urged the cooperatives to maintain good governance by carrying out their operation and management in a responsible, honest, disciplined, and transparent manner following the due process. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18032', 'image' => '20230628014050_cooperative problematic.jpg', 'article_date' => '2023-06-28 13:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18301', 'article_category_id' => '1', 'title' => 'Why are Investors more Attracted towards Hotel and Tourism Industry?', 'sub_title' => '', 'summary' => 'June 28: On May 25, the stock market index of the hotel and tourism group was 3,430.84 points.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 28: On May 25, the stock market index of the hotel and tourism group was 3,430.84 points. A month later, on June 27 (Tuesday), the index of this group climbed to 5,838.62 points. This is 70.18 percent more than a month ago. Out of the 13 trading groups, this group’s index has increased the most in the last one month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Why is the attraction towards hotel business increasing?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After the coronavirus pandemic subsided, the tourism industry started to pick up pace gradually. The companies in the hotel and tourism business are currently making profits. That is why investors are investing confidently in such companies. As a result, the share price of this group of companies has increased at a high rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Non-life insurance group</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, the index of non-life insurance group has increased the most after hotel and tourism sector. In other words, during this period, the investors are attracted towards non-life the insurance companies after the hotel and tourism group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During this period, the index of non-life Insurance companies increased by 36.05 percent. On May 25, the index of this group was 8,452.68, but after a month, it reached 11,499.79 points on June 27.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The attraction of investors towards this group of companies has increased after the insurance companies started to increase their capital. Some of the insurance companies have merged to increase their paid-up capital. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The companies that have not maintained the paid-up capital requirement set by the regulatory body will have to meet the requirement by issuing rights and bonus shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the minimum limit set by the Nepal Insurance Authority, the paid-up capital of non-life insurance company is Rs 2.5 billion and life insurance company is Rs 5 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18031', 'image' => '20230628011313_hotel-exterior-crowne.jpg', 'article_date' => '2023-06-28 13:11:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18300', 'article_category_id' => '1', 'title' => 'NC, Maoist Centre Issue Whip to Pass the Budget Today', 'sub_title' => '', 'summary' => 'June 28: The ruling Nepali Congress (NC) and the CPN (Maoist Center) have issued a whip to their lawmakers to pass the budget for the next fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The ruling Nepali Congress (NC) and the CPN (Maoist Center) have issued a whip to their lawmakers to pass the budget for the next fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NC and Maoists have instructed their MPs to vote in favor of the budget by compulsorily attending the Parliament meeting at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> am on Wednesday. The Parliament Secretariat has informed that it is preparing to pass the Appropriation Bill for the implementation of the budget on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Preparations for passing the Appropriation Bill have already started amid voices from within the ruling coalition that the budget should be passed only by amending it. Maoist Centre’s chief whip Hitraj Pandey has instructed the MPs to attend the Parliament meeting compulsorily and not remain neutral while passing the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice issued by Pandey reads, 'This instruction is issued in accordance with the provisions of our party's statute and the instructions of the leader of the parliamentary party and the honorable prime minister the party’s lawmakers to attend the meeting of the House of Representatives on June 28 and to vote in favor of the Appropriation Bill (Annual Budget) presented by the Government of Nepal.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat had presented the budget for the next fiscal year on May 29.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Whip of the Nepali Congress, Ramesh Lekhak, also issued an appeal to the MPs to pass the budget. His instructions mentions: "As the appropriation bill will be presented for decision at the meeting of the House of Representatives on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> am, this whip is issued to attend the meeting on that day, to vote in favor of the appropriation bill and not to remain neutral."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other coalition partners CPN (United Socialist) and Janata Samajwadi Party (JSP) are demanding that the budget should be revised. Some MPs from the Maoist Centre are also in favour of passing the budget only after amendment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the parliamentary practice, there is a tradition to pass the budget presented by the government without amendment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Prime Minister and Home Minister Narayankaji Shrestha also answered the questions raised by the parliamentarians on Sunday and said that they should get rid of the traditional practice and amend the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Parliament spokesperson Ekram Giri said that the government is going to pass the appropriation bill on Wednesday and send it to the National Assembly. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The main opposition parties CPN (UML), Rastriya Swatantra Party, Rastriya Prajatantra Party and Janamat Party have been opposing the budget in the Parliament.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18030', 'image' => '20230628120055_1683767264.jpg', 'article_date' => '2023-06-28 12:00:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18299', 'article_category_id' => '251', 'title' => 'Government Under Pressure to Reduce Current Expenses', 'sub_title' => '', 'summary' => 'June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs 5800 billion.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. Out of the total projection, the share of current expenditure will be much more than the size of capital expenditure. The commission has projected that the current expenditure will be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion and the capital expenditure will be only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This figure confirms the fact that the National Planning Commission or the government is thinking of giving continuity to the way it has been allocating budget without paying attention to the needs of the country. It seems that a lot of effort is needed to improve the structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">First of all, there is a need to make extensive reductions in the current expenses of the government. Some government offices are being scrapped and merged as per the budget announcement for the next fiscal year. By speeding up this process in the future, other unproductive offices should also be scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, it is said that the federal government has more employees than necessary. Therefore, the employees of the federal government should be adjusted at the state and local levels, and the state should not be burdened financially by just increasing the number of employees. Although there is no doubt that the state should provide social security, we cannot ignore the fact about the state’s capacity. Therefore, the spending on programs without any returns cannot be justified on any basis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The problems will exacerbate if we continue to delay the plans and programs to boost the economy. Otherwise, there is no guarantee that the state treasury will not be used up in current expenditure in the future if the current trend continues.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18029', 'image' => '20230628111524_20220725014945_rising-graph.jpeg', 'article_date' => '2023-06-28 11:14:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18298', 'article_category_id' => '1', 'title' => 'Alibaba Co-Founder Jack Ma Arrives in Kathmandu', 'sub_title' => '', 'summary' => 'Jack Ma, co-founder of Alibaba, has arrived in Kathmandu, Nepal. According to the Department of Immigration, he landed at the Tribhuvan International Airport at 2:30 PM on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">June 28: Jack Ma, co-founder of Alibaba, has arrived in Kathmandu, Nepal. According to the Department of Immigration, he landed at the Tribhuvan International Airport at 2:30 PM on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Ma's journey to Kathmandu commenced from China, with a transit stop in Dhaka, the capital of Bangladesh. He arrived in Nepal in his private aircraft, accompanied by a team. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Sources say that Jack Ma will meet with Prime Minister Pushpa Kamal Dahal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Jack Ma, whose full name is Jack Ma Yun, is a prominent figure in the business world. As the co-founder of Alibaba, one of the world's largest e-commerce companies, he has garnered immense recognition and achieved remarkable success.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Ma holds the fifth position among the wealthiest individuals in China and is globally ranked as the 63rd richest person based on his net worth.</span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18028', 'image' => '20230628060245_collage (8).jpg', 'article_date' => '2023-06-28 06:01:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18297', 'article_category_id' => '1', 'title' => 'Rastriya Banijya Bank Inaugurates 64th Extension Counter at Nepal Police Headquarters', 'sub_title' => '', 'summary' => 'Rastriya Banijya Bank has inaugurated its 64th extension counter in the premises of the Nepal Police Headquarters. Inspector General of Police, Basanta Bahadur Kunwar, inaugurated the extension counter during a ceremony held on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 28: Rastriya Banijya Bank has inaugurated its 64th extension counter in the premises of the Nepal Police Headquarters. Inspector General of Police, Basanta Bahadur Kunwar, inaugurated the extension counter during a ceremony held on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The branch office located within the premises of the Nepal Police will provide services such as cash deposits, check collection, check payments, statements, mobile banking services, ATM facilities, and more.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">During the program, Inspector General Kunwar praised the long-term cooperation between the Nepal Police and the bank, stating that the extension counter will make banking services easily accessible to the police personnel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Chief Executive Officer of the bank, Kiran Kumar Shrestha, expressed gratitude to all customers and extended his appreciation to the Nepal Police for their collaboration. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He emphasizing that the extension counter will provide a wide range of banking services to police personnel. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18027', 'image' => '20230628054412_collage (7).jpg', 'article_date' => '2023-06-28 05:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18296', 'article_category_id' => '1', 'title' => 'All Payments of Current FY Should be Done by July 9: FCGO', 'sub_title' => '', 'summary' => 'June 27: The Financial Comptroller General Office (FCGO) has asked all the district treasury controller offices and province treasury controller offices to complete the payments of economic liabilities incurred for implementation of the annual budget and programmes of the current fiscal year by July 9. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 27: The Financial Comptroller General Office (FCGO) has asked all the district treasury controller offices and province treasury controller offices to complete the payments of economic liabilities incurred for implementation of the annual budget and programmes of the current fiscal year by July 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Writing to the line agencies in the districts and provinces, the Financial Comptroller General Office has asked them to stop the payments after July 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the Fiscal Procedures and Financial Accountability Regulations, 2077 BS, the entire payments of the current fiscal year should be made a week before the end of the fiscal year and the government accounts should be closed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Financial Comptroller General Office, Shambhu Prasad Marasini, said that concerned offices and the accounts should be accountable if the payments are not made by July 9. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-06-27', 'modified' => '2023-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '18026', 'image' => '20230627103704_20230511021044_1683767264.jpg', 'article_date' => '2023-06-27 22:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 29: Heavy rainfall along with windstorm is likely to take place in some parts of the country due to the influence of the monsoon wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, light to medium rainfall is taking place in some areas of Karnali, Gandaki, Bagmati and Koshi provinces today (Thursday). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be general to complete changes in weather pattern across the country this afternoon. Light to moderate rainfall with thunderstorm and lightning is likely to occur in a few places of Sudurpaschim, Karnali, Lumbini, Gandaki and Bagmati provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division informed that heavy rainfall is predicted in some areas of Karnali, Lumbini and Gandaki provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Storm is likely to take place in several areas of Lumbini, Gandaki and Bagmati provinces and in some areas of remaining provinces, stated a bulletin published by the division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be general to complete changes in weather across the country tonight. According to the division, light to moderate rain with thunderstorms and lightning is likely to take place at some areas of Lumbini, Gandaki, Madhes and Koshi province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Noting that surface and air travel, health, agriculture and tourism sectors will possibly be affected due to heavy rainfall with thunderstorms, the division has urged one and all to adopt necessary safety precaution. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18040', 'image' => '20230629103148_20211018080919_20210613043257_2021SECVPF.jpeg', 'article_date' => '2023-06-29 10:31:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18309', 'article_category_id' => '1', 'title' => 'Bill to Raise National Debt Approved', 'sub_title' => '', 'summary' => 'The meeting of House of Representatives has approved an important proposal regarding the 'Bill to raise national debt, 2080'. The proposal, presented by Finance Minister Dr. Prakash Sharan Mahat, received a majority of votes in favor on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">June 29: The meeting of House of Representatives has approved an important proposal regarding the 'Bill to raise national debt, 2080'. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The proposal, presented by Finance Minister Dr. Prakash Sharan Mahat, received a majority of votes in favor on Wednesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">During the meeting, several members of parliament, including Dr. Swarnim Wagle, Gokarna Bista, Prem Suwal, Sumana Shrestha, Ashok Kumar Chaudhary, and Amrit Lal Rajbamshi, participated in the discussion on the theoretical aspects of the bill. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Queries raised by the members were addressed by Finance Minister Dr. Mahat, who assured that the government had been mindful of maintaining the national debt within a manageable limit and making efforts to reduce the burden.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Dr. Mahat emphasized that the government's focus was on effectively utilizing the loans received, rather than solely focusing on the volume of loans.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Minister Mahat clarified that the government has established a policy to carefully plan and allocate multilateral and bilateral loans to specific sectors after conducting thorough groundwork. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Additionally, he mentioned that loans with subsidized interest rates below one percent were given priority.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">Regarding the utilization of the loans, Dr. Mahat highlighted that the government intended to invest them primarily in infrastructure development, particularly in the tourism and energy sectors.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt">The House of Representatives is scheduled to reconvene on Sunday, July 2, at 11:00 am for further proceedings. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18039', 'image' => '20230629060303_collage (1).jpg', 'article_date' => '2023-06-29 06:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '18308', 'article_category_id' => '1', 'title' => 'Nepal, and Mongolia Sign Agreement on Wool Production and Export', 'sub_title' => '', 'summary' => 'Nepal and Mongolia have inked an agreement aimed at fostering collaboration in the production and export of wool.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 29: Nepal and Mongolia have inked an agreement aimed at fostering collaboration in the production and export of wool.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The agreement, which was signed during the World Export Development Forum 2023 in Ulaanbaatar, Mongolia, on Wednesday, brings together Nepali entrepreneurs and Mongolian officials with the goal of sharing knowledge and resources related to pashmina wool.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Nepal Pashmina Industry Association and the Research and Development Institute of Light Industries of Mongolia have signed a memorandum of understanding. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This agreement focuses on enhancing cooperation in the areas of pashmina wool production, quality control, and analysis. By exchanging expertise and resources, both countries aim to further develop their respective wool industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The memorandum of understanding will be effective for five years, with the possibility of extension through mutual agreement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The signing ceremony took place in the presence of Madhu Kumar Marasini, Secretary at the Ministry of Industry, Commerce and Supply of Nepal, and Jambaltseren Tumur-Uya, State Secretary of the Mongolian Ministry of Food, Agriculture and Light Industry.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-29', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18038', 'image' => '20230629054948_collage.jpg', 'article_date' => '2023-06-29 05:48:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18307', 'article_category_id' => '1', 'title' => 'HoR Endorses Appropriation Bill, 2080 By Majority', 'sub_title' => '', 'summary' => 'The House of Representatives (HoR) has approved the 'Appropriation Bill, 2080' with a majority of votes. The bill was presented by Minister for Finance, Dr. Prakash Sharan Mahat, during the HoR meeting on Wednesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">June 28: The House of Representatives (HoR) has approved the 'Appropriation Bill, 2080' with a majority of votes. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The bill was presented by Minister for Finance, Dr. Prakash Sharan Mahat, during the HoR meeting on Wednesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">A total of 147 HoR members voted in favor of the bill, while 108 members voted against it. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaker Dev Raj Ghimire declared the approval of the appropriation bill, as it received the majority of votes from the HoR. Out of the 255 HoR members present in the meeting, 255 voted on the bill. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">As part of the voting process, Speaker Ghimire directed the secretariat to ring the alarming bell for five minutes before the vote division. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Prior to the voting, Finance Minister Dr. Mahat presented a motion seeking approval for the 'Appropriation Bill, 2080'. Speaker Ghimire proposed a voice vote with options of 'yes' or 'no'.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt"> Recognizing the majority in support of the proposal, Speaker Ghimire announced the endorsement of the appropriation bill. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Speaker Ghimire had initiated the voting process after CPN-UML's whip Mahesh Bartaula demanded for the same. </span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18037', 'image' => '20230628062709_collage (56).jpg', 'article_date' => '2023-06-28 18:25:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18306', 'article_category_id' => '1', 'title' => 'Nabil Bank Honoured with Infosys Innovation Awards 2023', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has been felicitated with the 'Infosys Finacle Innovation Awards 2023'. Nabil Bank received the Platinum Award in the Infosys Finacle Innovation Award 2023 under the Product Innovation category for the inception of nBank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">June 28: Nabil Bank Limited has been felicitated with the 'Infosys Finacle Innovation Awards 2023'. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Nabil Bank received the Platinum Award in the Infosys Finacle Innovation Award 2023 under the Product Innovation category for the inception of nBank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Nabil Bank emerged as the winner among more than 200 nominations in 10 categories, making it a notable achievement for the bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The Chief Executive Officer (CEO) of Nabil Bank, Gyanendra Prasad Dhungana, stated that this award is the outcome of bank's digital banking and innovative thinking.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The award has given additional motivation to deliver superior, simple, and excellent banking services to the bank's customers, employees, investors, and the larger community.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">nBank is the first mobile banking platform in Nepal to provide digital banking services without customers being physically present in any branch.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">Customers can avail themselves of banking services with the bank's cooperation without filling any physical forms or visiting any branches. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:17.0pt">The award has emboldened the bank to provide more innovative digital services in the days ahead, according to the bank.</span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18036', 'image' => '20230628050830_collage (55).jpg', 'article_date' => '2023-06-28 17:06:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18305', 'article_category_id' => '1', 'title' => 'Private Sector Alarmed by Government’s Decision to Increase Minimum Wage', 'sub_title' => '', 'summary' => 'June 28: The private sector has warned the government that if it increased the wages of the workers to an unsustainable level, they will hand over the keys of their industries and businesses to the government.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The private sector has warned the government that if it increased the wages of the workers to an unsustainable level, they will hand over the keys of their industries and businesses to the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Employers who participated in an interaction on minimum wages organized by the Federation of Nepaesel Chamber of Commerce and Industry in Birgunj of Madhesh Province on Tuesday clarified that the wages cannot be increased as the industries are running at less than half their capacity.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They expressed concern that the government is trying to increase the minimum wage at a time when the industries and businesses are facing all kinds of problems due to the coronavirus pandemic. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI’s Babu Kaji Karki claimed that if wages are increased unilaterally without the consent of the private sector, which contributes </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">85</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to the total employment creation, it will cause an accident for the economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The interaction organized outside the capital to understand the views of the industries and entrepreneurs regarding the government's plan to increase the minimum wage in the next fiscal year shed light that the labour cost has been rising due to the increment in minimum wages and collective bargaining every two years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders said that the economic indicators do not show a comfortable economic situation at present. Due to economic contraction, the employers are not ready to take the burden of salary hike when they are forced to cut employment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If forced by the government, entrepreneurs will have to give up the keys to their business, said Karki. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector is alarmed by the government’s of plans to double the current minimum wage of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per month</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Some say that the minimum wage will be increased to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> while others say it will go as high as Rs</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If this is the case, the industries will be closed,” says Karki.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector has warned that the practice of hiring Indian workers will increase if the salary burden becomes unsustainable. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Lath, outgoing president of the Madhesh chapter of FNCCI, said that although the government is going to increase the wages of the workers, it seems indifferent about increasing the productivity. “Entrepreneurs turn to automatic technology when they cannot bear the burden of wages. The day may come when employment opportunities will be closed due to this," he said, who is also an advisor to the FNCCI’s Employers Council.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashok Kumar Temani, president of the Madhesh chapter of FNCCI, demanded that the government should also contribute if the salary is to be increased. “Modality can be made in the form of contribution," said Temani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector says that wages should be increased at different rates depending on the geographical situation and cost of the city where the workers are employed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We have an unreasonable practice of setting same wages in all the places,” he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Anil Kumar Agarwal, president of Birgunj Chamber of Industry and Commerce, said that the industry and trade has shrunk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"To overcome the crisis of coronavirus pandemic, we have to find many ways to cut expenses. If there is an increase in wages, there is no option but to close the enterprises," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Hari Gautam, coordinator of the FNCCI Employers' Committee, said that although the economy is said to have recovered, the situation is not positive. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '18035', 'image' => '20230628025640_1687923482.collage.jpg', 'article_date' => '2023-06-28 14:55:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18304', 'article_category_id' => '1', 'title' => 'Insurance Companies Collect Rs 3 Billion under Foreign Employment Insurance in 11 Months', 'sub_title' => '', 'summary' => 'June 28: Life insurance companies have collected around Rs 3 billion in insurance fees under the heading of foreign employment insurance scheme in the first 11 months of the current fiscal year (FY 2022/23). According to the Nepal Insurance Authority, 10 life insurers have collected Rs 2.96 billion in insurance fee', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 28: Life insurance companies have collected around Rs 3 billion in insurance fees under the heading of foreign employment insurance scheme in the first 11 months of the current fiscal year (FY 2022/23). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Insurance Authority, 10 life insurers have collected Rs 2.96 billion in insurance fees from foreign employment insurance policies in 11 months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Foreign Employment Act, 2064, Nepali migrant workers going for foreign employment must compulsorily have insurance. With the increase in the number of people going to foreign employment from Nepal, the insurance fee collected under the foreign employment insurance heading has increased. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Rastra Bank, the number of Nepalis who have received work permits for foreign employment in the 10 months of the current fiscal year has reached 660,155.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, Sun Nepal Life Insurance has collected the most insurance fees from foreign employment insurance. The company has collected Rs 1.2 billion insurance fee by mid-June this year. Similarly, Nepal Life stood second for collecting Rs 41.64 million under the heading of foreign employment insurance followed by IME Life Insurance which earned Rs 39.97 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Rajkumar Aryal, Chief Executive Officer of Sun Nepal Life Insurance, says that the government has made foreign employment insurance mandatory for overseas work, so life insurance companies are collecting significant insurance fees.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18034', 'image' => '20230628025535_INSURANCE-COVERAGE.jpg', 'article_date' => '2023-06-28 14:54:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18303', 'article_category_id' => '1', 'title' => 'Capital Market has Potential to Boost Nepal's Economic Growth: Study', 'sub_title' => '', 'summary' => 'June 28: The capital market has a high potential to lead the economic growth rate of Nepal, according to a recent study conducted by the International Finance Corporation (IFC) and Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The capital market has a high potential to lead the economic growth rate of Nepal, according to a recent study conducted by the International Finance Corporation (IFC) and Securities Board of Nepal (SEBON).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the study report, the possibility of boosting the economy is very high, especially through the expansion and diversification of the credit capital market. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal will graduate into a developing country within a few years. Nepal is also committed to become a Net Zero country by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2045. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the current structure of Nepal’s capital market, the study suggested that the credit market should be expanded to help achieve those goals which require high financing and sustainable economic development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To make this a reality, Sebon and IFC are working together to comprehensively reform the bond market and to develop a program to promote corporate bond issuance. However, the study acknowledges that the credit market is very small in proportion to the overall capital market of Nepal. The main credit markets at present are money market, government bond market and corporate bond market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“The currency market is very small. It does not have corporate money and market instruments. Most of the debt capital market is occupied by the government bond market. However, the corporate bond market is in a good state. It is limited to bonds issued by banks. Only limited institutional investors like insurance companies, mutual funds have entered into it,” states the report.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Martin Holtmann, country director of the IFC for Nepal, Bangladesh and Bhutan, says that there is a lot of potential in Nepal's credit market, but it has yet to be explored. He said that both domestic and foreign investors can be attracted if the process of bond issuance is made easier, book building mechanism is established and transparency is maintained. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Holtmann said that if these measures are adopted, Nepal can create a favorable environment for the growth of the credit market and new doors of investment will be opened for business and infrastructure development. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18033', 'image' => '20230628022405_1687932275.sebon.jpg', 'article_date' => '2023-06-28 14:23:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18302', 'article_category_id' => '1', 'title' => 'KMC Concerned about Citizens being Duped by Cooperatives ', 'sub_title' => 'Metropolis Issues Notice Telling Cooperatives to Hold AGM on Time ', 'summary' => 'June 28: The Kathmandu Metropolitan City (KMC) has shown its concern on regulating the cooperatives under its jurisdiction in view of the increasing incidents of depositors being cheated by the cooperatives. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 28: The Kathmandu Metropolitan City (KMC) has shown its concern on regulating the cooperatives under its jurisdiction in view of the increasing incidents of depositors being cheated by the cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC's Cooperatives Department issued a notice on Wednesday and directed the cooperatives to hold their Annual General Meeting in the designated time and in the presence of all their share members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has also urged the cooperatives to provide the KMC with information on their actual condition and transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor Balen Shah has also instructed the cooperatives to inform the KMC about their actual status and transactions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Let us be spared from financial risk and let us save cooperatives from crisis," he wrote on a social media post. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the KMC's Cooperative Department is 'flooded with' written and verbal complaints of the shareholders and managers of cooperatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor Shah has urged the cooperatives to maintain good governance by carrying out their operation and management in a responsible, honest, disciplined, and transparent manner following the due process. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18032', 'image' => '20230628014050_cooperative problematic.jpg', 'article_date' => '2023-06-28 13:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18301', 'article_category_id' => '1', 'title' => 'Why are Investors more Attracted towards Hotel and Tourism Industry?', 'sub_title' => '', 'summary' => 'June 28: On May 25, the stock market index of the hotel and tourism group was 3,430.84 points.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 28: On May 25, the stock market index of the hotel and tourism group was 3,430.84 points. A month later, on June 27 (Tuesday), the index of this group climbed to 5,838.62 points. This is 70.18 percent more than a month ago. Out of the 13 trading groups, this group’s index has increased the most in the last one month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Why is the attraction towards hotel business increasing?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">After the coronavirus pandemic subsided, the tourism industry started to pick up pace gradually. The companies in the hotel and tourism business are currently making profits. That is why investors are investing confidently in such companies. As a result, the share price of this group of companies has increased at a high rate.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Non-life insurance group</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period, the index of non-life insurance group has increased the most after hotel and tourism sector. In other words, during this period, the investors are attracted towards non-life the insurance companies after the hotel and tourism group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">During this period, the index of non-life Insurance companies increased by 36.05 percent. On May 25, the index of this group was 8,452.68, but after a month, it reached 11,499.79 points on June 27.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The attraction of investors towards this group of companies has increased after the insurance companies started to increase their capital. Some of the insurance companies have merged to increase their paid-up capital. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The companies that have not maintained the paid-up capital requirement set by the regulatory body will have to meet the requirement by issuing rights and bonus shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the minimum limit set by the Nepal Insurance Authority, the paid-up capital of non-life insurance company is Rs 2.5 billion and life insurance company is Rs 5 billion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18031', 'image' => '20230628011313_hotel-exterior-crowne.jpg', 'article_date' => '2023-06-28 13:11:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18300', 'article_category_id' => '1', 'title' => 'NC, Maoist Centre Issue Whip to Pass the Budget Today', 'sub_title' => '', 'summary' => 'June 28: The ruling Nepali Congress (NC) and the CPN (Maoist Center) have issued a whip to their lawmakers to pass the budget for the next fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The ruling Nepali Congress (NC) and the CPN (Maoist Center) have issued a whip to their lawmakers to pass the budget for the next fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NC and Maoists have instructed their MPs to vote in favor of the budget by compulsorily attending the Parliament meeting at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> am on Wednesday. The Parliament Secretariat has informed that it is preparing to pass the Appropriation Bill for the implementation of the budget on Wednesday.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Preparations for passing the Appropriation Bill have already started amid voices from within the ruling coalition that the budget should be passed only by amending it. Maoist Centre’s chief whip Hitraj Pandey has instructed the MPs to attend the Parliament meeting compulsorily and not remain neutral while passing the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice issued by Pandey reads, 'This instruction is issued in accordance with the provisions of our party's statute and the instructions of the leader of the parliamentary party and the honorable prime minister the party’s lawmakers to attend the meeting of the House of Representatives on June 28 and to vote in favor of the Appropriation Bill (Annual Budget) presented by the Government of Nepal.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat had presented the budget for the next fiscal year on May 29.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Whip of the Nepali Congress, Ramesh Lekhak, also issued an appeal to the MPs to pass the budget. His instructions mentions: "As the appropriation bill will be presented for decision at the meeting of the House of Representatives on June </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> am, this whip is issued to attend the meeting on that day, to vote in favor of the appropriation bill and not to remain neutral."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other coalition partners CPN (United Socialist) and Janata Samajwadi Party (JSP) are demanding that the budget should be revised. Some MPs from the Maoist Centre are also in favour of passing the budget only after amendment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the parliamentary practice, there is a tradition to pass the budget presented by the government without amendment.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Prime Minister and Home Minister Narayankaji Shrestha also answered the questions raised by the parliamentarians on Sunday and said that they should get rid of the traditional practice and amend the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Parliament spokesperson Ekram Giri said that the government is going to pass the appropriation bill on Wednesday and send it to the National Assembly. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The main opposition parties CPN (UML), Rastriya Swatantra Party, Rastriya Prajatantra Party and Janamat Party have been opposing the budget in the Parliament.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18030', 'image' => '20230628120055_1683767264.jpg', 'article_date' => '2023-06-28 12:00:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18299', 'article_category_id' => '251', 'title' => 'Government Under Pressure to Reduce Current Expenses', 'sub_title' => '', 'summary' => 'June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs 5800 billion.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. Out of the total projection, the share of current expenditure will be much more than the size of capital expenditure. The commission has projected that the current expenditure will be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion and the capital expenditure will be only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This figure confirms the fact that the National Planning Commission or the government is thinking of giving continuity to the way it has been allocating budget without paying attention to the needs of the country. It seems that a lot of effort is needed to improve the structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">First of all, there is a need to make extensive reductions in the current expenses of the government. Some government offices are being scrapped and merged as per the budget announcement for the next fiscal year. By speeding up this process in the future, other unproductive offices should also be scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, it is said that the federal government has more employees than necessary. Therefore, the employees of the federal government should be adjusted at the state and local levels, and the state should not be burdened financially by just increasing the number of employees. Although there is no doubt that the state should provide social security, we cannot ignore the fact about the state’s capacity. Therefore, the spending on programs without any returns cannot be justified on any basis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The problems will exacerbate if we continue to delay the plans and programs to boost the economy. Otherwise, there is no guarantee that the state treasury will not be used up in current expenditure in the future if the current trend continues.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18029', 'image' => '20230628111524_20220725014945_rising-graph.jpeg', 'article_date' => '2023-06-28 11:14:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18298', 'article_category_id' => '1', 'title' => 'Alibaba Co-Founder Jack Ma Arrives in Kathmandu', 'sub_title' => '', 'summary' => 'Jack Ma, co-founder of Alibaba, has arrived in Kathmandu, Nepal. According to the Department of Immigration, he landed at the Tribhuvan International Airport at 2:30 PM on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">June 28: Jack Ma, co-founder of Alibaba, has arrived in Kathmandu, Nepal. According to the Department of Immigration, he landed at the Tribhuvan International Airport at 2:30 PM on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Ma's journey to Kathmandu commenced from China, with a transit stop in Dhaka, the capital of Bangladesh. He arrived in Nepal in his private aircraft, accompanied by a team. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Sources say that Jack Ma will meet with Prime Minister Pushpa Kamal Dahal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Jack Ma, whose full name is Jack Ma Yun, is a prominent figure in the business world. As the co-founder of Alibaba, one of the world's largest e-commerce companies, he has garnered immense recognition and achieved remarkable success.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:18.0pt">Ma holds the fifth position among the wealthiest individuals in China and is globally ranked as the 63rd richest person based on his net worth.</span></span></span></p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18028', 'image' => '20230628060245_collage (8).jpg', 'article_date' => '2023-06-28 06:01:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '18297', 'article_category_id' => '1', 'title' => 'Rastriya Banijya Bank Inaugurates 64th Extension Counter at Nepal Police Headquarters', 'sub_title' => '', 'summary' => 'Rastriya Banijya Bank has inaugurated its 64th extension counter in the premises of the Nepal Police Headquarters. Inspector General of Police, Basanta Bahadur Kunwar, inaugurated the extension counter during a ceremony held on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 28: Rastriya Banijya Bank has inaugurated its 64th extension counter in the premises of the Nepal Police Headquarters. Inspector General of Police, Basanta Bahadur Kunwar, inaugurated the extension counter during a ceremony held on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The branch office located within the premises of the Nepal Police will provide services such as cash deposits, check collection, check payments, statements, mobile banking services, ATM facilities, and more.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">During the program, Inspector General Kunwar praised the long-term cooperation between the Nepal Police and the bank, stating that the extension counter will make banking services easily accessible to the police personnel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Chief Executive Officer of the bank, Kiran Kumar Shrestha, expressed gratitude to all customers and extended his appreciation to the Nepal Police for their collaboration. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">He emphasizing that the extension counter will provide a wide range of banking services to police personnel. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18027', 'image' => '20230628054412_collage (7).jpg', 'article_date' => '2023-06-28 05:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18296', 'article_category_id' => '1', 'title' => 'All Payments of Current FY Should be Done by July 9: FCGO', 'sub_title' => '', 'summary' => 'June 27: The Financial Comptroller General Office (FCGO) has asked all the district treasury controller offices and province treasury controller offices to complete the payments of economic liabilities incurred for implementation of the annual budget and programmes of the current fiscal year by July 9. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 27: The Financial Comptroller General Office (FCGO) has asked all the district treasury controller offices and province treasury controller offices to complete the payments of economic liabilities incurred for implementation of the annual budget and programmes of the current fiscal year by July 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Writing to the line agencies in the districts and provinces, the Financial Comptroller General Office has asked them to stop the payments after July 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the Fiscal Procedures and Financial Accountability Regulations, 2077 BS, the entire payments of the current fiscal year should be made a week before the end of the fiscal year and the government accounts should be closed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Financial Comptroller General Office, Shambhu Prasad Marasini, said that concerned offices and the accounts should be accountable if the payments are not made by July 9. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-06-27', 'modified' => '2023-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '18026', 'image' => '20230627103704_20230511021044_1683767264.jpg', 'article_date' => '2023-06-27 22:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
