KATHMANDU: Nepal’s gross foreign exchange reserves increased 27.8 percent to Rs 1967.19 billion in mid-June 2024 from Rs 1539.36 billion in mid-July 2023, according to the report of Nepal Rastra Bank…
KATHMANDU: Nepal’s gross foreign exchange reserves increased 27.8 percent to Rs 1967.19 billion in mid-June 2024 from Rs 1539.36 billion in mid-July 2023, according to the report of Nepal Rastra Bank…
KATHMANDU: Reliance Spinning Mills, which previously maintained a high share price by reporting a high net worth per share, recently published a report showing a decrease in the actual net worth per share, raising questions about its…
KATHMANDU: The price of green vegetables has skyrocketed within a week due to road blockages caused by continuous…
KATHMANDU: Eighty-three people have died in disaster-related incidents, including landslides and floods, triggered by relentless rains across the…
KATHMANDU: Kanchanpur district in Sudurpaschim Province has recorded its highest rainfall in the past 78…
KATHMANDU: Sujal Foods Pvt Ltd, a leading food company in Nepal, has introduced its latest product, Delite Dairy Whitener powdered milk, in the…
KATHMANDU: Despite spending more than Rs 33 billion in a single day, the government did not meet the revised expenditure target for the current fiscal year…
KATHMANDU: Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, on Tuesday announced that agreements with China and Sri Lanka on digital payments have reached the final…
KATHMANDU: The Bangladesh Power Development Board (BPDB) has written to the Nepal Electricity Authority (NEA) to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in…
KATHMANDU: Seventy-eight people have lost their lives due to floods and landslides triggered by continuous rainfall in various parts of the…
LYON: The World Health Organization's cancer agency has classified talc as "probably carcinogenic" for humans. However, an outside expert warned against misinterpreting the announcement as a "smoking gun", AFP…
KATHMANDU: Nepal is all set to host the eighth edition of the South Asian Travel Award (SATA) in Kathmandu on September…
KATHMANDU: President Ram Chandra Paudel has certified the Bill designed to amend some Nepal Acts, 2081 BS to facilitate…
The Nepal Stock Exchange (NEPSE) Index saw an increase of 15.79 points today, marking a 0.73% rise and closing at 2,152.14 points. This gain follows a previous session loss of 4.62…
KATHMANDU: The government is planning to operate an iron mine in the country to reduce the excessive import of…
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The share of Indian currency in total reserves stood at 22.3 percent in mid-June 2024.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the imports of eleven months of 2023/24, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 15.1 months, and merchandise and services imports of 12.6 months, the NRB further said in the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the country’s current account remained at a surplus of Rs 200.39 billion in the first eleven months of the current fiscal year, the report added. According to the central bank, the current account remained at a deficit of Rs 79.53 billion in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the US Dollar terms, the current account registered a surplus of 1.51 billion in the review period against a deficit of 613.2 million in the same period last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 25.7 percent to Rs 5.46 billion and net foreign direct investment (FDI) remained a positive of Rs 8.16 billion, the report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the corresponding period of the previous year, capital transfer amounted to Rs 7.35 billion and net FDI amounted to Rs 4.65 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the Balance of Payments (BOP) remained at a surplus of Rs 425.67 billion in the review period against a surplus of Rs 224.9 billion in the same period of the previous year, the NRB report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the US Dollar terms, the BOP remained at a surplus of 3.2 billion in the review period against a surplus of 1.71 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21226', 'image' => '20240710091940_20230710020950_dollar.jpg', 'article_date' => '2024-07-10 21:18:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21496', 'article_category_id' => '1', 'title' => 'House Committee Seeks Clarifications from SEBON over Reliance Spinning Mills’ IPO', 'sub_title' => '', 'summary' => 'KATHMANDU: Reliance Spinning Mills, which previously maintained a high share price by reporting a high net worth per share, recently published a report showing a decrease in the actual net worth per share, raising questions about its value.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Reliance Spinning Mills, which previously maintained a high share price by reporting a high net worth per share, recently published a report showing a decrease in the actual net worth per share, raising questions about its value.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Public Accounts Committee of the House of Representatives has sought an explanation from the Securities Board of Nepal after allegations that Reliance Spinning Mills was allowed to issue shares at a high price without proper financial scrutiny. The Board had recently permitted the company to issue ordinary shares (IPO) to the public at Rs 820.8 per share through the book-building method on June 26. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors have questioned the company's value, alleging it hid potential liabilities to the Nepal Electricity Authority. As a result, institutional investors bought shares at a high price and sold them to the general public at a 10% discount, keeping the share price high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The book-building method is a process used in initial public offerings (IPOs) to determine the price at which a company's shares will be offered to the public. The book-building method helps to ensure that the share price reflects market demand and allows for a more efficient and fair pricing mechanism compared to fixed-price offerings. This method has come under scrutiny due to disputes regarding the IPO of Reliance Spinning Mills.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Public Accounts Committee has asked the Securities Board of Nepal to answer five specific questions within seven days. The committee is concerned about the safety of investors' investments, given that the company's earnings per share have been declining for the last three fiscal years. The committee also noted inconsistencies between the company's projected and actual financial statements. Last year, Reliance Spinning Mills reported earnings per share of Rs 54.34, but this has now dropped to Rs 2.8. The committee questioned whether there was manipulation in the preparation of the financial statements.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the committee asked for clear information regarding the discrepancy between the projected earnings per share of Rs 54.34 for the year 2079/80 and the actual earnings per share of Rs 2.8 for the year 2080/81. The committee also questioned whether there was a conflict of interest between the institutional investors and the directors of Reliance Spinning Mills, as institutional investors bought shares at a high price.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Board has been instructed to provide detailed information about which institutional investors applied for shares through the book-building method and at what price. Recently, IPO-eligible institutional investors bought shares of the company, which has earnings of Rs 2.8 per share, for Rs 912. The general public will be able to buy shares at a 10% discount, with 10% of the total shares issued to Nepalis employed abroad at Rs 820.80 per share starting July 11.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21222', 'image' => '20240710083201_20240411023236_Sebon-update.jpg', 'article_date' => '2024-07-10 14:41:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21495', 'article_category_id' => '1', 'title' => 'Prices of Green Vegetables Up by 216 Percent in a Week', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of green vegetables has skyrocketed within a week due to road blockages caused by continuous rainfall.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The price of green vegetables has skyrocketed within a week due to road blockages caused by continuous rainfall. According to the daily price list of the Kalimati Fruit and Vegetable Market Development Committee, vegetable prices have increassed by 216 percent in just one week. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Geeta Prasad Acharya, president of the Kalimati Fruit and Vegetable Market Traders Committee, attributed the price hike to transportation issues following continuous rainfall. He noted that floods and landslides have disrupted vegetable transport in many parts of the country. While vegetables are sourced from districts near Kathmandu Valley, there have been difficulties in bringing vegetables from India and Terai districts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"It has been raining a little less since Tuesday. With the improvement of road conditions, the import of vegetables can gradually increase," Acharya said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">On July 1, the price of small local tomatoes was Rs 14 per kg, but by July 10, it had increased by 216 percent to Rs 45 per kg. The price of tomatoes produced in tunnels rose by over 141 percent, from Rs 22.80 to Rs 55 per kg.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During this period, the price of brinjal increased by 41.30 percent, from Rs 46 to Rs 65 per kg. The price of green pumpkin increased by 160 percent, from Rs 25 to Rs 65 per kg.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The committee's daily data shows that the import of small tomatoes decreased by 24 percent on July 9 compared to July 1. On July 1, 44 metric tons of small tomatoes arrived at the market, which dropped to 33 metric tons on July 9. During this period, the import of bitter gourds decreased from 33 metric tons to 16 metric tons, and the import of green pumpkin dropped from 11 metric tons to 3 metric tons.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Consumers complain that the price of vegetables in the local market is not comparable to that of the Kalimati vegetable market. Sarita Maharjan, a shopper at the Kirtipur vegetable market on Monday, said she couldn't find any vegetables for less than Rs 100 per kg. "I bought tomatoes for Rs 40 per kilo on Friday, and today it has reached Rs 100. We can’t afford to buy vegetables anymore,” she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Binay Shrestha, the information officer of the committee, confirmed that vegetable imports have decreased due to rain. "After the onset of rains, the import of vegetables naturally decreases. In particular, the arrival of seasonal vegetables has decreased. The import has decreased because the road has been damaged due to rain and farmers are busy with planting," he explained. At this time, vegetables from Makwanpur, Kavre, Chitwan, Nuwakot, Dhading, and other districts are supplied to Kalimati.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21221', 'image' => '20240710022802_20210701020007_20200806125217_1595453904.Clipboard03.jpg', 'article_date' => '2024-07-10 14:27:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21493', 'article_category_id' => '1', 'title' => 'Eighty-Three Killed in Flooding and Landslide Incidents', 'sub_title' => '', 'summary' => 'KATHMANDU: Eighty-three people have died in disaster-related incidents, including landslides and floods, triggered by relentless rains across the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Eighty-three people have died in disaster-related incidents, including landslides and floods, triggered by relentless rains across the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Police Headquarters, 33 men, 25 women, and 25 children have died in these incidents from June 10 till Wednesday morning. Central Police spokesperson and Deputy Inspector General Dan Bahadur Karki reported that 106 people have been injured, and five people, including three women and two men, are missing due to floods and landslides during this period. Among the injured, 51 are men, 36 are women, and 19 are children.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Additionally, 384 cattle have died in these incidents. Spokesperson Karki noted that 139 houses and 54 cattle sheds have been damaged due to flooding and landslides.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">So far, 5,428 police personnel have been mobilized to rescue those affected by the disasters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Floods and landslides have also damaged one school and two government office buildings. Forty-one bridges have been swept away, 161 houses have been submerged, and 116 ropanis of land have been buried by debris.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Police Headquarters reported that 2,954 families have been displaced across the country in 1,028 disaster-related incidents triggered by the incessant rains, causing losses equivalent to Rs 107 million.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21220', 'image' => '20240710014906_KDN_Dang-20240706_171042.jpg', 'article_date' => '2024-07-10 13:48:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21492', 'article_category_id' => '1', 'title' => 'Kanchanpur Records Highest Rainfall in 78 Years', 'sub_title' => '', 'summary' => 'KATHMANDU: Kanchanpur district in Sudurpaschim Province has recorded its highest rainfall in the past 78 years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">KATHMANDU: Kanchanpur district in Sudurpaschim Province has recorded its highest rainfall in the past 78 years. On July 7 and 8, Dodhara in Kanchanpur experienced the most significant rainfall since 2003 B.S.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Department of Hydrology and Meteorology, Dodhara, Hanumannagar, and Sundarpur in Kanchanpur received record rainfall. Preliminary data measured on July 8 at 08:45 a.m. showed that Dodhara received 624.0 mm of rain, Hanumannagar 573.6 mm, and Sundarpur 555.8 mm, all within 24 hours.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The monsoon season began in eastern Nepal on June 10 and spread to the western parts of the country two weeks later. It was most active from June 28 to July 8.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Previously, the highest recorded rainfall was 516.2 mm at Hetauda in Makwanpur on August 13, 2017. Additionally, the Soil Conservation Department recorded 540.0 mm of rain at the Tistung Rain Center in Makwanpur on July 20, 1993. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Pratibha Manandhar, a senior meteorologist, the monsoon, which was active in Sudurpaschim and Karnali provinces until two days ago, is now active in Koshi, Madhes, Bagmati, Lumbini, and Gandaki provinces. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21219', 'image' => '20240710125955_SS-Kanchanpur-24DSC00097(1)copy.JPG', 'article_date' => '2024-07-10 12:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21494', 'article_category_id' => '266', 'title' => 'Sujal Foods Launches Delite Dairy Whitener Across Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: Sujal Foods Pvt Ltd, a leading food company in Nepal, has introduced its latest product, Delite Dairy Whitener powdered milk, in the market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Sujal Foods Pvt Ltd, a leading food company in Nepal, has introduced its latest product, Delite Dairy Whitener powdered milk, in the market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The company said in a statement that the milk used in the Delite Dairy Whitener is collected from various regions across Nepal and is a 100% indigenous product that meets international standards. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The production process employs the latest technology and advanced machinery, added the statement issued by Sujal Foods. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The company claimed that Delite Dairy Whitener is thicker compared to other milk powders and is produced using an innovative Ultra Drying Spray Technology that allows it to dissolve instantly in lukewarm water, ensuring a smooth and uniform mixture.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the company, the modern metallic packaging ensures the powdered milk remains safe and fresh for up to 12 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Delite Dairy Whitener is thick, creamy, and delicious. It’s made with natural ingredients and has the rich taste of cow and buffalo milk. This powdered milk is perfect for making tea, coffee, and other milk dishes, making them even tastier,” reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The statement added that Delite Dairy Whitener is now available across Nepal at major retailers like Bhatbhateni, Sales Berry, and Big Mart, as well as local grocery stores and popular online platforms. It comes in two different packs including 400 grams for Rs 470 and 800 grams for Rs 900.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21218', 'image' => '20240710021020_Must Head Press Release.jpg', 'article_date' => '2024-07-10 14:09:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21491', 'article_category_id' => '1', 'title' => 'Government Fails to Meet Revised Budget Expenditure Target', 'sub_title' => '', 'summary' => 'KATHMANDU: Despite spending more than Rs 33 billion in a single day, the government did not meet the revised expenditure target for the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Despite spending more than Rs 33 billion in a single day, the government did not meet the revised expenditure target for the current fiscal year 2080/81. The government’s expenses on July 8 alone stood at Rs 33.61 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Financial Comptroller General Office (FCGO), the government spent Rs 9.85 billion under current expenditure, while Rs 14.44 billion was spent on capital expenditure on the last working day of the current fiscal year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of Tuesday morning, the capital expenditure of the entire year stood at only 56.97 percent of the target. Out of the revised target of Rs 215 billion, the government spent only Rs 172 billion under this heading.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the FCGO has stated that the government had set a revised target of spending Rs 1067 billion under the heading of current expenses, but it spent only Rs 933 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, it spent Rs 250 billion out of the revised target of Rs 247.55 billion towards financial management. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">For the current fiscal year, total government expenditure stands at Rs 1356 billion. The revised target, set during the mid-term budget review, was Rs 1530 billion, compared to the original budget of Rs 1751 billion announced on May 29 last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of June 15, government expenditure was Rs 1181.29 billion, indicating a significant increase in spending during the last month of the fiscal year before government accounts were frozen on July 9. All government payment accounts have been closed for a week since Monday midnight, in accordance with Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations, which mandates stopping disbursements one week before the fiscal year ends. Exceptions are made for urgent payments with the consent of the FCGO. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This closure applies to accounts operated by the FCGO, Provincial Financial Comptroller General Offices (PFCGO), and the Treasury and Finance Controller Offices of all districts, according to Deputy Financial Controller General Narayan Prasad Sapkota. The Sub-National Treasury Regulatory Application (SuTRA), Treasury Single Account System (TSA), and Computerized Government Accounting System (CGAS) have also been closed for a week, halting budget payment obligations at federal, state, and local levels from Monday midnight.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">With the fiscal year ending soon, the government is also unlikely to meet its revenue collection target. As of Tuesday morning, revenue collection was Rs 989 billion, just 69.59% of the target of Rs 1422 billion, forcing the government to rely more on debt to cover the shortfall.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government achieved only 5% of the target for receiving foreign grants, with Rs 2.75 billion received out of the estimated Rs 49.94 billion. The Ministry of Finance repeatedly stated that the revised target would be met, but this was not achieved this year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21217', 'image' => '20240710121017_budget.jpg', 'article_date' => '2024-07-10 12:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21490', 'article_category_id' => '1', 'title' => 'Agreements with China, Sri Lanka on Digital Payment in the Final Stage ', 'sub_title' => '', 'summary' => 'KATHMANDU: Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, on Tuesday announced that agreements with China and Sri Lanka on digital payments have reached the final stage.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span></span><span style="font-size:16.0pt">Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, on Tuesday announced that agreements with China and Sri Lanka on digital payments have reached the final stage.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Speaking at an interaction on next year's monetary policy organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Tuesday, Governor Adhikari said that agreements with China's Ali Pay and Sri Lanka's Lanka Pay for digital payment transactions are expected soon.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Adhikari noted that the volume of transactions with India has increased following the initiation of cross-border digital payments.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">He also mentioned that discussions with officials of the Reserve Bank of India are ongoing to enable transactions using Indian notes of denominations 500 and 1,000.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Governor Adhikari promised that objective analysis of facts, statistics, and practices will be conducted in preparing the monetary policy for the upcoming fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">During the interaction, FNCCI President Chandra Prasad Dhakal urged the Governor to develop a monetary policy that would encourage industries to enhance their production capacity and stimulate market demand. Dhakal noted that loan expansion is lackluster despite sufficient liquidity in banks and financial institutions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Dhakal also suggested that the monetary policy should include provisions to implement the announcement of reduced interest rates for the industrial sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">"Industries' capacity to repay loans has diminished due to the drop in demand. This issue must be addressed. We demand a policy that encourages investment," FNCCI President Dhakal stated. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21216', 'image' => '20240710113051_20210926011503_20200918073634_digita.jpg', 'article_date' => '2024-07-10 11:30:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21488', 'article_category_id' => '1', 'title' => 'Bangladesh Calls for Power Sales Agreement of 40 MW Electricity with NEA', 'sub_title' => 'Nepal set to receive 6.40 cents per unit of electricity exported to Bangladesh', 'summary' => 'KATHMANDU: The Bangladesh Power Development Board (BPDB) has written to the Nepal Electricity Authority (NEA) to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The Bangladesh Power Development Board (BPDB) has written to the Nepal Electricity Authority (NEA) to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal. BPDB sent a letter to the NEA on Monday, informing them that the concerned authority has agreed to the tender for the Power Sales Agreement (PSA) for 40 megawatts of electricity for six months during the rainy season.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">BPDB had called for a tender bid on January 1, 2024, for the purchase of 40 megawatts of electricity produced in Nepal, in accordance with the tripartite agreement between the entities of Bangladesh, India, and Nepal for a period of five years. The NEA submitted the tender document in the prescribed format, quoting the rate of electricity to be sold to Bangladesh. BPDB informed the NEA of its intention to accept the bid after evaluating the submitted documents and confirming acceptance by the relevant body.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA has to give a written response to BPDB within seven days regarding the acceptance of the deal. Following that, BPDB will provide the draft of the power sale agreement to the NEA, which needs to finalize the agreement within 28 days of receiving the draft. There will be a tripartite agreement between the NEA, NTPC Vidyut Vyapar Nigam (NVVN) of India, and BPDB.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Kulman Ghising, executive director of the NEA, said that after completing all the remaining processes, work has begun to export electricity to Bangladesh from this rainy season. "Since the three bodies have agreed on the draft of the tripartite electricity sale agreement, the agreement will be reached soon. Then we will send the list of projects to the Central Electricity Authority of India for approval to export electricity to Bangladesh. Since new projects will take time for approval, the electricity produced from the projects that have already received export approval in India will be exported to Bangladesh. We will send the proposal for approval,” said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA is preparing to export electricity produced by its subsidiaries, including the 25 MW Trishuli and 22 MW Chilime hydropower projects, which were built with Indian grants, to Bangladesh. Both these projects have received approval for power export from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA will sell 40 megawatts of electricity to Bangladesh for six months during the rainy season, i.e., from June 15 to November 15 each year for five years. The authority will receive 6.40 cents per unit by selling electricity to Bangladesh.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The authority will receive the price of electricity exported to Bangladesh through the Dhalkebar-Muzaffarpur 400 kV international transmission line between Nepal and India at the Muzaffarpur point in India. In other words, the meter of electricity exported to Bangladesh will be in Muzaffarpur. The NEA will bear the technical leakage of the transmission line from Dhalkebar to Muzaffarpur. Electricity will reach Bangladesh through the Bahrampur (India)-Bheramara (Bangladesh) 400 kV transmission line from Muzaffarpur via India's transmission line.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Kulman Ghising, the executive director of the NEA, said that Bangladesh will bear all the taxes and fees, including the transmission line fees, leakage charge, and the trading margin taken by NVVN after the Muzaffarpur point. Ghising mentioned that the per-unit rate of electricity will be around 7.6 cents when it reaches the border of Bangladesh.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"We will get 6.40 cents at the Muzaffarpur point. There is no risk of currency exchange as we will be paid in dollars. The rate we got is reasonable for the sale of electricity in the rainy season," he said. The electricity trade, which is set to begin symbolically in the first phase with Bangladesh at the government-to-government level, will help facilitate large-scale trade in the region in the coming days and open up many other avenues of electricity trade.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21215', 'image' => '20240709032311_20240223021605_banglad.jpg', 'article_date' => '2024-07-09 15:21:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21487', 'article_category_id' => '1', 'title' => '41 Bridges Swept Away by Floods, Physical Damage Exceeds 100 Million ', 'sub_title' => '', 'summary' => 'KATHMANDU: Seventy-eight people have lost their lives due to floods and landslides triggered by continuous rainfall in various parts of the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span>Seventy-eight people have lost their lives due to floods and landslides triggered by continuous rainfall in various parts of the country. The physical damage is estimated to be more than Rs 100 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Additionally, 90 people have been injured, and five are missing due to the flooding and landslides from June 10 until Tuesday morning, according to the Police Headquarters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The disasters have also resulted in the death of 381 cattle, the destruction of 98 cowsheds, and the displacement of 595 houses. Five thousand and forty-one police personnel have been mobilized for disaster management during this period, the police report stated.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Floods and landslides have damaged one school and two government office buildings, while 41 bridges have been swept away. Furthermore, 161 houses have been submerged, and 116 ropanis of land have been buried by debris.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Police Headquarters reported that 1,028 disaster-related incidents have occurred due to the incessant rains, resulting in losses equivalent to Rs 101,885,700. <span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21214', 'image' => '20240709015729_KDN-Dang-DSC_1164.jpg', 'article_date' => '2024-07-09 13:56:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21486', 'article_category_id' => '1', 'title' => 'WHO Agency says Talc is 'Probably' Cancer-Causing', 'sub_title' => '', 'summary' => 'LYON: The World Health Organization's cancer agency has classified talc as "probably carcinogenic" for humans. However, an outside expert warned against misinterpreting the announcement as a "smoking gun", AFP reported.', 'content' => '<p><span style="font-size:18px">LYON: The World Health Organization's cancer agency has classified talc as "probably carcinogenic" for humans. However, an outside expert warned against misinterpreting the announcement as a "smoking gun", AFP reported.</span></p> <p><span style="font-size:18px">The news agency, citing the WHO's International Agency for Research on Cancer (IARC), said the decision was based on "limited evidence" talc could cause ovarian cancer in humans, "sufficient evidence" it was linked to cancer in rats and "strong mechanistic evidence" that it shows carcinogenic signs in human cells.</span></p> <p><span style="font-size:18px">According to AFP, talc is a naturally occurring mineral which is mined in many parts of the world and is often used to make talcum baby powder.</span></p> <p><span style="font-size:18px">Most people are exposed to talc in the form of baby powder or cosmetics, according to the Lyon-based IARC.</span></p> <p><span style="font-size:18px">But the most significant exposure to talc occurs when talc is being mined, processed or used to make products, it added.</span></p> <p><span style="font-size:18px">The agency said there were numerous studies which consistently showed an increase in the rate of ovarian cancer in women who use talc on their genitals.</span></p> <p><span style="font-size:18px">But it could not rule out that the talc in some studies was contaminated with cancer-causing asbestos.</span></p> <p><span style="font-size:18px">"A causal role for talc could not be fully established," according the agency's findings published in The Lancet Oncology.</span></p> <p><span style="font-size:18px">Kevin McConway, a statistician at the UK's Open University not involved the research, warned that for the IARC's evaluation, the "most obvious interpretation is actually misleading".</span></p> <p><span style="font-size:18px">The agency is only aiming "to answer the question of whether the substance has the potential to cause cancer, under some conditions that IARC do not specify," AFP quoted him as saying.</span></p> <p><span style="font-size:18px">Because the studies were observational and so could not prove causation, "there isn't a smoking gun that the talc use causes any increased cancer risk," he added.</span></p> <p><span style="font-size:18px">The announcement comes just weeks after US pharmaceutical and cosmetics giant Johnson & Johnson agreed to pay $700 million to settle allegations it misled customers about the safety of its talcum-based powder products.</span></p> <p><span style="font-size:18px">Johnson & Johnson did not admit wrongdoing in its settlement, even though it withdrew the product from the North American market in 2020.</span></p> <p><span style="font-size:18px">A summary of studies published in 2020 covering 250,000 women in the United States did not find a statistical link between the use of talc on the genitals and the risk of ovarian cancer.</span></p> <p><span style="font-size:18px">Also on Friday, the IARC classified acrylonitrile, a chemical compound used to make polymers, as "carcinogenic to humans", its highest warning level.</span></p> <p><span style="font-size:18px">It cited "sufficient evidence" linking acrylonitrile to lung cancer.</span></p> <p><span style="font-size:18px">The polymers made with acrylonitrile are used in everything from fibres in clothes to carpets, plastics and other consumer products. -- AFP</span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'talc, UN, powder, baby, cancer', 'description' => '', 'sortorder' => '21213', 'image' => '20240709014538_IARC-e1536828504833.jpg', 'article_date' => '2024-07-09 13:43:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21484', 'article_category_id' => '1', 'title' => 'Nepal to Host South Asian Travel Award in September ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal is all set to host the eighth edition of the South Asian Travel Award (SATA) in Kathmandu on September 19-20. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepal is all set to host the eighth edition of the South Asian Travel Award (SATA) in Kathmandu on September 19-20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisers said that the event to confer awards will be attended by the representatives of over 250 hotels, travel agencies, airlines and media from six countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference held in the capital on Monday to share information about the event, the organizers said that 44 awards in various categories would be distributed on the occasion. Those excelling in the hospitality in South Asian region would be conferred with the awards, added the organisers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The event, which will feature trade and entrepreneurship exchanges on travel, is supported by Nepal Tourism Board and the Hotel Association Nepal. The Malla Hotel and Aloft Hotel are the event partners. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the press meet, Vice Chairman of Nepal Tourism Board, Ram Prasad Sapkota, said the SATA would play a significant role in promoting tourism and hospitality businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Chief of Board, Nandini Lahe Thapa, expressed pleasure to host such an event in Nepal, which could help prop up tourism development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairman of the Hotel Association Nepal, Binayak Shah, expressed belief that the award handover programme would be helpful to revive tourism which suffered much in the recent past. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Executive Officer of the Hotel Association of Nepal, Tek Bahadur Mahat, is one of the jury members from Nepal for the award selection. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21212', 'image' => '20240709103359_sata.jpg', 'article_date' => '2024-07-09 10:33:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21480', 'article_category_id' => '1', 'title' => 'President Certifies Bill on Investment Facilitation', 'sub_title' => '', 'summary' => 'KATHMANDU: President Ram Chandra Paudel has certified the Bill designed to amend some Nepal Acts, 2081 BS to facilitate investment. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">KATHMANDU: President Ram Chandra Paudel has certified the Bill designed to amend some Nepal Acts, 2081 BS to facilitate investment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The bill passed by both houses of the federal parliament was certified by President Paudel on Monday in accordance with Article 113 (2) of the Constitution, says a statement issued by Spokesperson for the Office of the President, Shailaja Regmi Bhattarai.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The private sector as well as other stakeholders including foreign investors had been long demanding amendment to the laws to facilitate investment in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Targeting the Third Investment Summit held in late April, the government had issued an ordinance to amend 12 laws and regulations including the Foreign Investment and Technology Transfer Act 2075, Industrial Enterprises Act 2076, Forest Act, and Land-related laws, focusing on attracting foreign investment and technology transfer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">With the objective of increasing investment in the country, the government had earlier reduced the minimum limit required for foreign investment to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The government has already adopted a one-door policy to facilitate foreign investment. However, critics say that the Department of Industry, which oversees this system, lacks the required number of human resources.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'President, authenticates, bill, investment, facilitation, Nepal, one, door, policy', 'description' => '', 'sortorder' => '21210', 'image' => '20240709095731_20240708083915_20221114081312_Clipboard65.jpg', 'article_date' => '2024-07-09 09:56:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21489', 'article_category_id' => '1', 'title' => 'NEPSE Index Rises by 15.79 Points to Close at 2152.14', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw an increase of 15.79 points today, marking a 0.73% rise and closing at 2,152.14 points. This gain follows a previous session loss of 4.62 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 9: The Nepal Stock Exchange (NEPSE) Index saw an increase of 15.79 points today, marking a 0.73% rise and closing at 2,152.14 points. This gain follows yesterday's loss of 4.62 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 316 stocks were traded through across 66,716 transactions on the NEPSE. A total of 11,661,208 units of shares were exchanged, resulting into a total turnover of Rs 5.53 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) led the market in turnover, achieving Rs. 197.7 million and closing at Rs. 735 per share. Ganapati Laghubitta Bittiya Sanstha Limited (GMFBS) and Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) both hit the positive circuit, surging by 10% each.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the downside, Siddhartha Investment Growth Scheme - 2 (SIGS2) experienced the highest loss, dropping 5.47%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In sector performance, four sector indices ended the day in negative territory. The "Manufacturing and Processing Index" recorded the highest sectoral loss of 0.54%, while the "Microfinance Index" saw the highest gain, increasing by 3.06%.</span></span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21209', 'image' => '20240709040413_collage (63).jpg', 'article_date' => '2024-07-09 16:03:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '21483', 'article_category_id' => '1', 'title' => 'Govt Gears Up to Extract Iron from Dhaubadi Mine', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is planning to operate an iron mine in the country to reduce the excessive import of iron.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: T</span></span><span style="font-size:13.5pt">he government is planning to operate an iron mine in the country to reduce the excessive import of iron.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Department of Mines and Geology has decided to excavate iron in Nawalparasi (East) after discovering iron ore in between Namjakot and Dhaubadi area of Hupsekot Rural Municipality-5, Nawalparasi (East).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">During the study, a significant amount of iron ore was found in the 10 km area of Dhaubadi. The Council of Ministers decided to establish 'Dhaubadi Iron Company Limited' on August 21, 2019. The company was registered with the company registrar's office on September 26 the same year, under the name "Dhaubadi Iron Company Limited," and has been operating since February 2020.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">India's M & Dastur, SRK, and Nepal's Z Company spent eight months exploring iron ore in the area. The study report indicates that iron production can begin from 2027 onwards.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Chief Executive Officer (CEO) of the company, Dr. Janak Bahadur Chand, stated that a detailed feasibility study for establishing an iron/steel industry based on the Dhaubadi iron ore mine has been completed, and the final report has been received.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The study suggests that iron and steel production is feasible from both technical and financial perspectives. The company is now planned for seismic assessments, environmental impact assessments, and the preparation of a detailed project report.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Dr. Chand said that once the industry starts operation, around 2,000 to 2,500 individuals will be employed directly, with an additional 20,000 to 25,000 employed indirectly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The project is estimated to cost Rs 51.25 billion. It is anticipated that the company will take seven years to achieve profitability and recover its initial investment. Land acquisition processes have already commenced in Kawasoti and Devchuli municipalities in East Nawalparasi for the establishment of the industry.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">It is estimated that there is a deposit of 99 million tonnes of iron ore in the area, of which 96 million tonnes can be extracted. The company’s chairperson and the department’s director-general Ram Prasad Ghimire said that the department has been studying the mine since 2011. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21206', 'image' => '20240709103307_20240708093843_20220328101003_1648364690.धौबादी_फलाम_कम्पनी_लिमिटेड.jpg', 'article_date' => '2024-07-09 10:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21500', 'article_category_id' => '1', 'title' => 'Foreign Exchange Reserves Sufficient to Cover Imports for 15 Months: NRB', 'sub_title' => 'Current Account and Balance of Payments in Surplus', 'summary' => 'KATHMANDU: Nepal’s gross foreign exchange reserves increased 27.8 percent to Rs 1967.19 billion in mid-June 2024 from Rs 1539.36 billion in mid-July 2023, according to the report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal’s gross foreign exchange reserves increased 27.8 percent to Rs 1967.19 billion in mid-June 2024 from Rs 1539.36 billion in mid-July 2023, according to the report of Nepal Rastra Bank (NRB).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report of Nepal unveiled by the NRB on Wednesday mentions that the gross foreign exchange reserves in terms of the US dollar increased 25.7 percent to 14.72 billion in mid-June 2024 from 11.71 billion in mid-July 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB increased 30.2 percent to Rs 1752.77 billion in mid-June 2024 from Rs 1345.78 billion in mid-July 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Reserves held by banks and financial institutions (except NRB) increased 10.8 percent to Rs 214.42 billion in mid-June 2024 from Rs 193.59 billion in mid-July 2023. The share of Indian currency in total reserves stood at 22.3 percent in mid-June 2024.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the imports of eleven months of 2023/24, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 15.1 months, and merchandise and services imports of 12.6 months, the NRB further said in the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the country’s current account remained at a surplus of Rs 200.39 billion in the first eleven months of the current fiscal year, the report added. According to the central bank, the current account remained at a deficit of Rs 79.53 billion in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the US Dollar terms, the current account registered a surplus of 1.51 billion in the review period against a deficit of 613.2 million in the same period last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 25.7 percent to Rs 5.46 billion and net foreign direct investment (FDI) remained a positive of Rs 8.16 billion, the report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the corresponding period of the previous year, capital transfer amounted to Rs 7.35 billion and net FDI amounted to Rs 4.65 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the Balance of Payments (BOP) remained at a surplus of Rs 425.67 billion in the review period against a surplus of Rs 224.9 billion in the same period of the previous year, the NRB report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the US Dollar terms, the BOP remained at a surplus of 3.2 billion in the review period against a surplus of 1.71 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21226', 'image' => '20240710091940_20230710020950_dollar.jpg', 'article_date' => '2024-07-10 21:18:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21496', 'article_category_id' => '1', 'title' => 'House Committee Seeks Clarifications from SEBON over Reliance Spinning Mills’ IPO', 'sub_title' => '', 'summary' => 'KATHMANDU: Reliance Spinning Mills, which previously maintained a high share price by reporting a high net worth per share, recently published a report showing a decrease in the actual net worth per share, raising questions about its value.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Reliance Spinning Mills, which previously maintained a high share price by reporting a high net worth per share, recently published a report showing a decrease in the actual net worth per share, raising questions about its value.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Public Accounts Committee of the House of Representatives has sought an explanation from the Securities Board of Nepal after allegations that Reliance Spinning Mills was allowed to issue shares at a high price without proper financial scrutiny. The Board had recently permitted the company to issue ordinary shares (IPO) to the public at Rs 820.8 per share through the book-building method on June 26. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors have questioned the company's value, alleging it hid potential liabilities to the Nepal Electricity Authority. As a result, institutional investors bought shares at a high price and sold them to the general public at a 10% discount, keeping the share price high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The book-building method is a process used in initial public offerings (IPOs) to determine the price at which a company's shares will be offered to the public. The book-building method helps to ensure that the share price reflects market demand and allows for a more efficient and fair pricing mechanism compared to fixed-price offerings. This method has come under scrutiny due to disputes regarding the IPO of Reliance Spinning Mills.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Public Accounts Committee has asked the Securities Board of Nepal to answer five specific questions within seven days. The committee is concerned about the safety of investors' investments, given that the company's earnings per share have been declining for the last three fiscal years. The committee also noted inconsistencies between the company's projected and actual financial statements. Last year, Reliance Spinning Mills reported earnings per share of Rs 54.34, but this has now dropped to Rs 2.8. The committee questioned whether there was manipulation in the preparation of the financial statements.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the committee asked for clear information regarding the discrepancy between the projected earnings per share of Rs 54.34 for the year 2079/80 and the actual earnings per share of Rs 2.8 for the year 2080/81. The committee also questioned whether there was a conflict of interest between the institutional investors and the directors of Reliance Spinning Mills, as institutional investors bought shares at a high price.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Board has been instructed to provide detailed information about which institutional investors applied for shares through the book-building method and at what price. Recently, IPO-eligible institutional investors bought shares of the company, which has earnings of Rs 2.8 per share, for Rs 912. The general public will be able to buy shares at a 10% discount, with 10% of the total shares issued to Nepalis employed abroad at Rs 820.80 per share starting July 11.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21222', 'image' => '20240710083201_20240411023236_Sebon-update.jpg', 'article_date' => '2024-07-10 14:41:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21495', 'article_category_id' => '1', 'title' => 'Prices of Green Vegetables Up by 216 Percent in a Week', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of green vegetables has skyrocketed within a week due to road blockages caused by continuous rainfall.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The price of green vegetables has skyrocketed within a week due to road blockages caused by continuous rainfall. According to the daily price list of the Kalimati Fruit and Vegetable Market Development Committee, vegetable prices have increassed by 216 percent in just one week. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Geeta Prasad Acharya, president of the Kalimati Fruit and Vegetable Market Traders Committee, attributed the price hike to transportation issues following continuous rainfall. He noted that floods and landslides have disrupted vegetable transport in many parts of the country. While vegetables are sourced from districts near Kathmandu Valley, there have been difficulties in bringing vegetables from India and Terai districts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"It has been raining a little less since Tuesday. With the improvement of road conditions, the import of vegetables can gradually increase," Acharya said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">On July 1, the price of small local tomatoes was Rs 14 per kg, but by July 10, it had increased by 216 percent to Rs 45 per kg. The price of tomatoes produced in tunnels rose by over 141 percent, from Rs 22.80 to Rs 55 per kg.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During this period, the price of brinjal increased by 41.30 percent, from Rs 46 to Rs 65 per kg. The price of green pumpkin increased by 160 percent, from Rs 25 to Rs 65 per kg.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The committee's daily data shows that the import of small tomatoes decreased by 24 percent on July 9 compared to July 1. On July 1, 44 metric tons of small tomatoes arrived at the market, which dropped to 33 metric tons on July 9. During this period, the import of bitter gourds decreased from 33 metric tons to 16 metric tons, and the import of green pumpkin dropped from 11 metric tons to 3 metric tons.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Consumers complain that the price of vegetables in the local market is not comparable to that of the Kalimati vegetable market. Sarita Maharjan, a shopper at the Kirtipur vegetable market on Monday, said she couldn't find any vegetables for less than Rs 100 per kg. "I bought tomatoes for Rs 40 per kilo on Friday, and today it has reached Rs 100. We can’t afford to buy vegetables anymore,” she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Binay Shrestha, the information officer of the committee, confirmed that vegetable imports have decreased due to rain. "After the onset of rains, the import of vegetables naturally decreases. In particular, the arrival of seasonal vegetables has decreased. The import has decreased because the road has been damaged due to rain and farmers are busy with planting," he explained. At this time, vegetables from Makwanpur, Kavre, Chitwan, Nuwakot, Dhading, and other districts are supplied to Kalimati.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21221', 'image' => '20240710022802_20210701020007_20200806125217_1595453904.Clipboard03.jpg', 'article_date' => '2024-07-10 14:27:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21493', 'article_category_id' => '1', 'title' => 'Eighty-Three Killed in Flooding and Landslide Incidents', 'sub_title' => '', 'summary' => 'KATHMANDU: Eighty-three people have died in disaster-related incidents, including landslides and floods, triggered by relentless rains across the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Eighty-three people have died in disaster-related incidents, including landslides and floods, triggered by relentless rains across the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Police Headquarters, 33 men, 25 women, and 25 children have died in these incidents from June 10 till Wednesday morning. Central Police spokesperson and Deputy Inspector General Dan Bahadur Karki reported that 106 people have been injured, and five people, including three women and two men, are missing due to floods and landslides during this period. Among the injured, 51 are men, 36 are women, and 19 are children.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Additionally, 384 cattle have died in these incidents. Spokesperson Karki noted that 139 houses and 54 cattle sheds have been damaged due to flooding and landslides.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">So far, 5,428 police personnel have been mobilized to rescue those affected by the disasters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Floods and landslides have also damaged one school and two government office buildings. Forty-one bridges have been swept away, 161 houses have been submerged, and 116 ropanis of land have been buried by debris.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Police Headquarters reported that 2,954 families have been displaced across the country in 1,028 disaster-related incidents triggered by the incessant rains, causing losses equivalent to Rs 107 million.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21220', 'image' => '20240710014906_KDN_Dang-20240706_171042.jpg', 'article_date' => '2024-07-10 13:48:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21492', 'article_category_id' => '1', 'title' => 'Kanchanpur Records Highest Rainfall in 78 Years', 'sub_title' => '', 'summary' => 'KATHMANDU: Kanchanpur district in Sudurpaschim Province has recorded its highest rainfall in the past 78 years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">KATHMANDU: Kanchanpur district in Sudurpaschim Province has recorded its highest rainfall in the past 78 years. On July 7 and 8, Dodhara in Kanchanpur experienced the most significant rainfall since 2003 B.S.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Department of Hydrology and Meteorology, Dodhara, Hanumannagar, and Sundarpur in Kanchanpur received record rainfall. Preliminary data measured on July 8 at 08:45 a.m. showed that Dodhara received 624.0 mm of rain, Hanumannagar 573.6 mm, and Sundarpur 555.8 mm, all within 24 hours.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The monsoon season began in eastern Nepal on June 10 and spread to the western parts of the country two weeks later. It was most active from June 28 to July 8.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Previously, the highest recorded rainfall was 516.2 mm at Hetauda in Makwanpur on August 13, 2017. Additionally, the Soil Conservation Department recorded 540.0 mm of rain at the Tistung Rain Center in Makwanpur on July 20, 1993. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Pratibha Manandhar, a senior meteorologist, the monsoon, which was active in Sudurpaschim and Karnali provinces until two days ago, is now active in Koshi, Madhes, Bagmati, Lumbini, and Gandaki provinces. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21219', 'image' => '20240710125955_SS-Kanchanpur-24DSC00097(1)copy.JPG', 'article_date' => '2024-07-10 12:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21494', 'article_category_id' => '266', 'title' => 'Sujal Foods Launches Delite Dairy Whitener Across Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: Sujal Foods Pvt Ltd, a leading food company in Nepal, has introduced its latest product, Delite Dairy Whitener powdered milk, in the market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Sujal Foods Pvt Ltd, a leading food company in Nepal, has introduced its latest product, Delite Dairy Whitener powdered milk, in the market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The company said in a statement that the milk used in the Delite Dairy Whitener is collected from various regions across Nepal and is a 100% indigenous product that meets international standards. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The production process employs the latest technology and advanced machinery, added the statement issued by Sujal Foods. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The company claimed that Delite Dairy Whitener is thicker compared to other milk powders and is produced using an innovative Ultra Drying Spray Technology that allows it to dissolve instantly in lukewarm water, ensuring a smooth and uniform mixture.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the company, the modern metallic packaging ensures the powdered milk remains safe and fresh for up to 12 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Delite Dairy Whitener is thick, creamy, and delicious. It’s made with natural ingredients and has the rich taste of cow and buffalo milk. This powdered milk is perfect for making tea, coffee, and other milk dishes, making them even tastier,” reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The statement added that Delite Dairy Whitener is now available across Nepal at major retailers like Bhatbhateni, Sales Berry, and Big Mart, as well as local grocery stores and popular online platforms. It comes in two different packs including 400 grams for Rs 470 and 800 grams for Rs 900.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21218', 'image' => '20240710021020_Must Head Press Release.jpg', 'article_date' => '2024-07-10 14:09:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21491', 'article_category_id' => '1', 'title' => 'Government Fails to Meet Revised Budget Expenditure Target', 'sub_title' => '', 'summary' => 'KATHMANDU: Despite spending more than Rs 33 billion in a single day, the government did not meet the revised expenditure target for the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Despite spending more than Rs 33 billion in a single day, the government did not meet the revised expenditure target for the current fiscal year 2080/81. The government’s expenses on July 8 alone stood at Rs 33.61 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Financial Comptroller General Office (FCGO), the government spent Rs 9.85 billion under current expenditure, while Rs 14.44 billion was spent on capital expenditure on the last working day of the current fiscal year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of Tuesday morning, the capital expenditure of the entire year stood at only 56.97 percent of the target. Out of the revised target of Rs 215 billion, the government spent only Rs 172 billion under this heading.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the FCGO has stated that the government had set a revised target of spending Rs 1067 billion under the heading of current expenses, but it spent only Rs 933 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, it spent Rs 250 billion out of the revised target of Rs 247.55 billion towards financial management. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">For the current fiscal year, total government expenditure stands at Rs 1356 billion. The revised target, set during the mid-term budget review, was Rs 1530 billion, compared to the original budget of Rs 1751 billion announced on May 29 last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of June 15, government expenditure was Rs 1181.29 billion, indicating a significant increase in spending during the last month of the fiscal year before government accounts were frozen on July 9. All government payment accounts have been closed for a week since Monday midnight, in accordance with Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations, which mandates stopping disbursements one week before the fiscal year ends. Exceptions are made for urgent payments with the consent of the FCGO. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This closure applies to accounts operated by the FCGO, Provincial Financial Comptroller General Offices (PFCGO), and the Treasury and Finance Controller Offices of all districts, according to Deputy Financial Controller General Narayan Prasad Sapkota. The Sub-National Treasury Regulatory Application (SuTRA), Treasury Single Account System (TSA), and Computerized Government Accounting System (CGAS) have also been closed for a week, halting budget payment obligations at federal, state, and local levels from Monday midnight.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">With the fiscal year ending soon, the government is also unlikely to meet its revenue collection target. As of Tuesday morning, revenue collection was Rs 989 billion, just 69.59% of the target of Rs 1422 billion, forcing the government to rely more on debt to cover the shortfall.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government achieved only 5% of the target for receiving foreign grants, with Rs 2.75 billion received out of the estimated Rs 49.94 billion. The Ministry of Finance repeatedly stated that the revised target would be met, but this was not achieved this year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21217', 'image' => '20240710121017_budget.jpg', 'article_date' => '2024-07-10 12:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21490', 'article_category_id' => '1', 'title' => 'Agreements with China, Sri Lanka on Digital Payment in the Final Stage ', 'sub_title' => '', 'summary' => 'KATHMANDU: Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, on Tuesday announced that agreements with China and Sri Lanka on digital payments have reached the final stage.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span></span><span style="font-size:16.0pt">Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, on Tuesday announced that agreements with China and Sri Lanka on digital payments have reached the final stage.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Speaking at an interaction on next year's monetary policy organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Tuesday, Governor Adhikari said that agreements with China's Ali Pay and Sri Lanka's Lanka Pay for digital payment transactions are expected soon.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Adhikari noted that the volume of transactions with India has increased following the initiation of cross-border digital payments.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">He also mentioned that discussions with officials of the Reserve Bank of India are ongoing to enable transactions using Indian notes of denominations 500 and 1,000.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Governor Adhikari promised that objective analysis of facts, statistics, and practices will be conducted in preparing the monetary policy for the upcoming fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">During the interaction, FNCCI President Chandra Prasad Dhakal urged the Governor to develop a monetary policy that would encourage industries to enhance their production capacity and stimulate market demand. Dhakal noted that loan expansion is lackluster despite sufficient liquidity in banks and financial institutions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Dhakal also suggested that the monetary policy should include provisions to implement the announcement of reduced interest rates for the industrial sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">"Industries' capacity to repay loans has diminished due to the drop in demand. This issue must be addressed. We demand a policy that encourages investment," FNCCI President Dhakal stated. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21216', 'image' => '20240710113051_20210926011503_20200918073634_digita.jpg', 'article_date' => '2024-07-10 11:30:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21488', 'article_category_id' => '1', 'title' => 'Bangladesh Calls for Power Sales Agreement of 40 MW Electricity with NEA', 'sub_title' => 'Nepal set to receive 6.40 cents per unit of electricity exported to Bangladesh', 'summary' => 'KATHMANDU: The Bangladesh Power Development Board (BPDB) has written to the Nepal Electricity Authority (NEA) to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The Bangladesh Power Development Board (BPDB) has written to the Nepal Electricity Authority (NEA) to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal. BPDB sent a letter to the NEA on Monday, informing them that the concerned authority has agreed to the tender for the Power Sales Agreement (PSA) for 40 megawatts of electricity for six months during the rainy season.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">BPDB had called for a tender bid on January 1, 2024, for the purchase of 40 megawatts of electricity produced in Nepal, in accordance with the tripartite agreement between the entities of Bangladesh, India, and Nepal for a period of five years. The NEA submitted the tender document in the prescribed format, quoting the rate of electricity to be sold to Bangladesh. BPDB informed the NEA of its intention to accept the bid after evaluating the submitted documents and confirming acceptance by the relevant body.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA has to give a written response to BPDB within seven days regarding the acceptance of the deal. Following that, BPDB will provide the draft of the power sale agreement to the NEA, which needs to finalize the agreement within 28 days of receiving the draft. There will be a tripartite agreement between the NEA, NTPC Vidyut Vyapar Nigam (NVVN) of India, and BPDB.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Kulman Ghising, executive director of the NEA, said that after completing all the remaining processes, work has begun to export electricity to Bangladesh from this rainy season. "Since the three bodies have agreed on the draft of the tripartite electricity sale agreement, the agreement will be reached soon. Then we will send the list of projects to the Central Electricity Authority of India for approval to export electricity to Bangladesh. Since new projects will take time for approval, the electricity produced from the projects that have already received export approval in India will be exported to Bangladesh. We will send the proposal for approval,” said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA is preparing to export electricity produced by its subsidiaries, including the 25 MW Trishuli and 22 MW Chilime hydropower projects, which were built with Indian grants, to Bangladesh. Both these projects have received approval for power export from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA will sell 40 megawatts of electricity to Bangladesh for six months during the rainy season, i.e., from June 15 to November 15 each year for five years. The authority will receive 6.40 cents per unit by selling electricity to Bangladesh.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The authority will receive the price of electricity exported to Bangladesh through the Dhalkebar-Muzaffarpur 400 kV international transmission line between Nepal and India at the Muzaffarpur point in India. In other words, the meter of electricity exported to Bangladesh will be in Muzaffarpur. The NEA will bear the technical leakage of the transmission line from Dhalkebar to Muzaffarpur. Electricity will reach Bangladesh through the Bahrampur (India)-Bheramara (Bangladesh) 400 kV transmission line from Muzaffarpur via India's transmission line.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Kulman Ghising, the executive director of the NEA, said that Bangladesh will bear all the taxes and fees, including the transmission line fees, leakage charge, and the trading margin taken by NVVN after the Muzaffarpur point. Ghising mentioned that the per-unit rate of electricity will be around 7.6 cents when it reaches the border of Bangladesh.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"We will get 6.40 cents at the Muzaffarpur point. There is no risk of currency exchange as we will be paid in dollars. The rate we got is reasonable for the sale of electricity in the rainy season," he said. The electricity trade, which is set to begin symbolically in the first phase with Bangladesh at the government-to-government level, will help facilitate large-scale trade in the region in the coming days and open up many other avenues of electricity trade.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21215', 'image' => '20240709032311_20240223021605_banglad.jpg', 'article_date' => '2024-07-09 15:21:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21487', 'article_category_id' => '1', 'title' => '41 Bridges Swept Away by Floods, Physical Damage Exceeds 100 Million ', 'sub_title' => '', 'summary' => 'KATHMANDU: Seventy-eight people have lost their lives due to floods and landslides triggered by continuous rainfall in various parts of the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span>Seventy-eight people have lost their lives due to floods and landslides triggered by continuous rainfall in various parts of the country. The physical damage is estimated to be more than Rs 100 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Additionally, 90 people have been injured, and five are missing due to the flooding and landslides from June 10 until Tuesday morning, according to the Police Headquarters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The disasters have also resulted in the death of 381 cattle, the destruction of 98 cowsheds, and the displacement of 595 houses. Five thousand and forty-one police personnel have been mobilized for disaster management during this period, the police report stated.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Floods and landslides have damaged one school and two government office buildings, while 41 bridges have been swept away. Furthermore, 161 houses have been submerged, and 116 ropanis of land have been buried by debris.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Police Headquarters reported that 1,028 disaster-related incidents have occurred due to the incessant rains, resulting in losses equivalent to Rs 101,885,700. <span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21214', 'image' => '20240709015729_KDN-Dang-DSC_1164.jpg', 'article_date' => '2024-07-09 13:56:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21486', 'article_category_id' => '1', 'title' => 'WHO Agency says Talc is 'Probably' Cancer-Causing', 'sub_title' => '', 'summary' => 'LYON: The World Health Organization's cancer agency has classified talc as "probably carcinogenic" for humans. However, an outside expert warned against misinterpreting the announcement as a "smoking gun", AFP reported.', 'content' => '<p><span style="font-size:18px">LYON: The World Health Organization's cancer agency has classified talc as "probably carcinogenic" for humans. However, an outside expert warned against misinterpreting the announcement as a "smoking gun", AFP reported.</span></p> <p><span style="font-size:18px">The news agency, citing the WHO's International Agency for Research on Cancer (IARC), said the decision was based on "limited evidence" talc could cause ovarian cancer in humans, "sufficient evidence" it was linked to cancer in rats and "strong mechanistic evidence" that it shows carcinogenic signs in human cells.</span></p> <p><span style="font-size:18px">According to AFP, talc is a naturally occurring mineral which is mined in many parts of the world and is often used to make talcum baby powder.</span></p> <p><span style="font-size:18px">Most people are exposed to talc in the form of baby powder or cosmetics, according to the Lyon-based IARC.</span></p> <p><span style="font-size:18px">But the most significant exposure to talc occurs when talc is being mined, processed or used to make products, it added.</span></p> <p><span style="font-size:18px">The agency said there were numerous studies which consistently showed an increase in the rate of ovarian cancer in women who use talc on their genitals.</span></p> <p><span style="font-size:18px">But it could not rule out that the talc in some studies was contaminated with cancer-causing asbestos.</span></p> <p><span style="font-size:18px">"A causal role for talc could not be fully established," according the agency's findings published in The Lancet Oncology.</span></p> <p><span style="font-size:18px">Kevin McConway, a statistician at the UK's Open University not involved the research, warned that for the IARC's evaluation, the "most obvious interpretation is actually misleading".</span></p> <p><span style="font-size:18px">The agency is only aiming "to answer the question of whether the substance has the potential to cause cancer, under some conditions that IARC do not specify," AFP quoted him as saying.</span></p> <p><span style="font-size:18px">Because the studies were observational and so could not prove causation, "there isn't a smoking gun that the talc use causes any increased cancer risk," he added.</span></p> <p><span style="font-size:18px">The announcement comes just weeks after US pharmaceutical and cosmetics giant Johnson & Johnson agreed to pay $700 million to settle allegations it misled customers about the safety of its talcum-based powder products.</span></p> <p><span style="font-size:18px">Johnson & Johnson did not admit wrongdoing in its settlement, even though it withdrew the product from the North American market in 2020.</span></p> <p><span style="font-size:18px">A summary of studies published in 2020 covering 250,000 women in the United States did not find a statistical link between the use of talc on the genitals and the risk of ovarian cancer.</span></p> <p><span style="font-size:18px">Also on Friday, the IARC classified acrylonitrile, a chemical compound used to make polymers, as "carcinogenic to humans", its highest warning level.</span></p> <p><span style="font-size:18px">It cited "sufficient evidence" linking acrylonitrile to lung cancer.</span></p> <p><span style="font-size:18px">The polymers made with acrylonitrile are used in everything from fibres in clothes to carpets, plastics and other consumer products. -- AFP</span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'talc, UN, powder, baby, cancer', 'description' => '', 'sortorder' => '21213', 'image' => '20240709014538_IARC-e1536828504833.jpg', 'article_date' => '2024-07-09 13:43:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21484', 'article_category_id' => '1', 'title' => 'Nepal to Host South Asian Travel Award in September ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal is all set to host the eighth edition of the South Asian Travel Award (SATA) in Kathmandu on September 19-20. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepal is all set to host the eighth edition of the South Asian Travel Award (SATA) in Kathmandu on September 19-20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisers said that the event to confer awards will be attended by the representatives of over 250 hotels, travel agencies, airlines and media from six countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference held in the capital on Monday to share information about the event, the organizers said that 44 awards in various categories would be distributed on the occasion. Those excelling in the hospitality in South Asian region would be conferred with the awards, added the organisers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The event, which will feature trade and entrepreneurship exchanges on travel, is supported by Nepal Tourism Board and the Hotel Association Nepal. The Malla Hotel and Aloft Hotel are the event partners. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the press meet, Vice Chairman of Nepal Tourism Board, Ram Prasad Sapkota, said the SATA would play a significant role in promoting tourism and hospitality businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Chief of Board, Nandini Lahe Thapa, expressed pleasure to host such an event in Nepal, which could help prop up tourism development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairman of the Hotel Association Nepal, Binayak Shah, expressed belief that the award handover programme would be helpful to revive tourism which suffered much in the recent past. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Executive Officer of the Hotel Association of Nepal, Tek Bahadur Mahat, is one of the jury members from Nepal for the award selection. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21212', 'image' => '20240709103359_sata.jpg', 'article_date' => '2024-07-09 10:33:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21480', 'article_category_id' => '1', 'title' => 'President Certifies Bill on Investment Facilitation', 'sub_title' => '', 'summary' => 'KATHMANDU: President Ram Chandra Paudel has certified the Bill designed to amend some Nepal Acts, 2081 BS to facilitate investment. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">KATHMANDU: President Ram Chandra Paudel has certified the Bill designed to amend some Nepal Acts, 2081 BS to facilitate investment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The bill passed by both houses of the federal parliament was certified by President Paudel on Monday in accordance with Article 113 (2) of the Constitution, says a statement issued by Spokesperson for the Office of the President, Shailaja Regmi Bhattarai.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The private sector as well as other stakeholders including foreign investors had been long demanding amendment to the laws to facilitate investment in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Targeting the Third Investment Summit held in late April, the government had issued an ordinance to amend 12 laws and regulations including the Foreign Investment and Technology Transfer Act 2075, Industrial Enterprises Act 2076, Forest Act, and Land-related laws, focusing on attracting foreign investment and technology transfer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">With the objective of increasing investment in the country, the government had earlier reduced the minimum limit required for foreign investment to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The government has already adopted a one-door policy to facilitate foreign investment. However, critics say that the Department of Industry, which oversees this system, lacks the required number of human resources.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'President, authenticates, bill, investment, facilitation, Nepal, one, door, policy', 'description' => '', 'sortorder' => '21210', 'image' => '20240709095731_20240708083915_20221114081312_Clipboard65.jpg', 'article_date' => '2024-07-09 09:56:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21489', 'article_category_id' => '1', 'title' => 'NEPSE Index Rises by 15.79 Points to Close at 2152.14', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw an increase of 15.79 points today, marking a 0.73% rise and closing at 2,152.14 points. This gain follows a previous session loss of 4.62 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 9: The Nepal Stock Exchange (NEPSE) Index saw an increase of 15.79 points today, marking a 0.73% rise and closing at 2,152.14 points. This gain follows yesterday's loss of 4.62 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 316 stocks were traded through across 66,716 transactions on the NEPSE. A total of 11,661,208 units of shares were exchanged, resulting into a total turnover of Rs 5.53 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) led the market in turnover, achieving Rs. 197.7 million and closing at Rs. 735 per share. Ganapati Laghubitta Bittiya Sanstha Limited (GMFBS) and Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) both hit the positive circuit, surging by 10% each.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the downside, Siddhartha Investment Growth Scheme - 2 (SIGS2) experienced the highest loss, dropping 5.47%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In sector performance, four sector indices ended the day in negative territory. The "Manufacturing and Processing Index" recorded the highest sectoral loss of 0.54%, while the "Microfinance Index" saw the highest gain, increasing by 3.06%.</span></span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21209', 'image' => '20240709040413_collage (63).jpg', 'article_date' => '2024-07-09 16:03:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '21483', 'article_category_id' => '1', 'title' => 'Govt Gears Up to Extract Iron from Dhaubadi Mine', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is planning to operate an iron mine in the country to reduce the excessive import of iron.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: T</span></span><span style="font-size:13.5pt">he government is planning to operate an iron mine in the country to reduce the excessive import of iron.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Department of Mines and Geology has decided to excavate iron in Nawalparasi (East) after discovering iron ore in between Namjakot and Dhaubadi area of Hupsekot Rural Municipality-5, Nawalparasi (East).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">During the study, a significant amount of iron ore was found in the 10 km area of Dhaubadi. The Council of Ministers decided to establish 'Dhaubadi Iron Company Limited' on August 21, 2019. The company was registered with the company registrar's office on September 26 the same year, under the name "Dhaubadi Iron Company Limited," and has been operating since February 2020.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">India's M & Dastur, SRK, and Nepal's Z Company spent eight months exploring iron ore in the area. The study report indicates that iron production can begin from 2027 onwards.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Chief Executive Officer (CEO) of the company, Dr. Janak Bahadur Chand, stated that a detailed feasibility study for establishing an iron/steel industry based on the Dhaubadi iron ore mine has been completed, and the final report has been received.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The study suggests that iron and steel production is feasible from both technical and financial perspectives. The company is now planned for seismic assessments, environmental impact assessments, and the preparation of a detailed project report.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Dr. Chand said that once the industry starts operation, around 2,000 to 2,500 individuals will be employed directly, with an additional 20,000 to 25,000 employed indirectly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The project is estimated to cost Rs 51.25 billion. It is anticipated that the company will take seven years to achieve profitability and recover its initial investment. Land acquisition processes have already commenced in Kawasoti and Devchuli municipalities in East Nawalparasi for the establishment of the industry.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">It is estimated that there is a deposit of 99 million tonnes of iron ore in the area, of which 96 million tonnes can be extracted. The company’s chairperson and the department’s director-general Ram Prasad Ghimire said that the department has been studying the mine since 2011. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21206', 'image' => '20240709103307_20240708093843_20220328101003_1648364690.धौबादी_फलाम_कम्पनी_लिमिटेड.jpg', 'article_date' => '2024-07-09 10:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21500', 'article_category_id' => '1', 'title' => 'Foreign Exchange Reserves Sufficient to Cover Imports for 15 Months: NRB', 'sub_title' => 'Current Account and Balance of Payments in Surplus', 'summary' => 'KATHMANDU: Nepal’s gross foreign exchange reserves increased 27.8 percent to Rs 1967.19 billion in mid-June 2024 from Rs 1539.36 billion in mid-July 2023, according to the report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal’s gross foreign exchange reserves increased 27.8 percent to Rs 1967.19 billion in mid-June 2024 from Rs 1539.36 billion in mid-July 2023, according to the report of Nepal Rastra Bank (NRB).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report of Nepal unveiled by the NRB on Wednesday mentions that the gross foreign exchange reserves in terms of the US dollar increased 25.7 percent to 14.72 billion in mid-June 2024 from 11.71 billion in mid-July 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB increased 30.2 percent to Rs 1752.77 billion in mid-June 2024 from Rs 1345.78 billion in mid-July 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Reserves held by banks and financial institutions (except NRB) increased 10.8 percent to Rs 214.42 billion in mid-June 2024 from Rs 193.59 billion in mid-July 2023. The share of Indian currency in total reserves stood at 22.3 percent in mid-June 2024.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the imports of eleven months of 2023/24, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 15.1 months, and merchandise and services imports of 12.6 months, the NRB further said in the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the country’s current account remained at a surplus of Rs 200.39 billion in the first eleven months of the current fiscal year, the report added. According to the central bank, the current account remained at a deficit of Rs 79.53 billion in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the US Dollar terms, the current account registered a surplus of 1.51 billion in the review period against a deficit of 613.2 million in the same period last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 25.7 percent to Rs 5.46 billion and net foreign direct investment (FDI) remained a positive of Rs 8.16 billion, the report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the corresponding period of the previous year, capital transfer amounted to Rs 7.35 billion and net FDI amounted to Rs 4.65 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the Balance of Payments (BOP) remained at a surplus of Rs 425.67 billion in the review period against a surplus of Rs 224.9 billion in the same period of the previous year, the NRB report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the US Dollar terms, the BOP remained at a surplus of 3.2 billion in the review period against a surplus of 1.71 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21226', 'image' => '20240710091940_20230710020950_dollar.jpg', 'article_date' => '2024-07-10 21:18:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21496', 'article_category_id' => '1', 'title' => 'House Committee Seeks Clarifications from SEBON over Reliance Spinning Mills’ IPO', 'sub_title' => '', 'summary' => 'KATHMANDU: Reliance Spinning Mills, which previously maintained a high share price by reporting a high net worth per share, recently published a report showing a decrease in the actual net worth per share, raising questions about its value.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Reliance Spinning Mills, which previously maintained a high share price by reporting a high net worth per share, recently published a report showing a decrease in the actual net worth per share, raising questions about its value.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Public Accounts Committee of the House of Representatives has sought an explanation from the Securities Board of Nepal after allegations that Reliance Spinning Mills was allowed to issue shares at a high price without proper financial scrutiny. The Board had recently permitted the company to issue ordinary shares (IPO) to the public at Rs 820.8 per share through the book-building method on June 26. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors have questioned the company's value, alleging it hid potential liabilities to the Nepal Electricity Authority. As a result, institutional investors bought shares at a high price and sold them to the general public at a 10% discount, keeping the share price high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The book-building method is a process used in initial public offerings (IPOs) to determine the price at which a company's shares will be offered to the public. The book-building method helps to ensure that the share price reflects market demand and allows for a more efficient and fair pricing mechanism compared to fixed-price offerings. This method has come under scrutiny due to disputes regarding the IPO of Reliance Spinning Mills.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Public Accounts Committee has asked the Securities Board of Nepal to answer five specific questions within seven days. The committee is concerned about the safety of investors' investments, given that the company's earnings per share have been declining for the last three fiscal years. The committee also noted inconsistencies between the company's projected and actual financial statements. Last year, Reliance Spinning Mills reported earnings per share of Rs 54.34, but this has now dropped to Rs 2.8. The committee questioned whether there was manipulation in the preparation of the financial statements.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the committee asked for clear information regarding the discrepancy between the projected earnings per share of Rs 54.34 for the year 2079/80 and the actual earnings per share of Rs 2.8 for the year 2080/81. The committee also questioned whether there was a conflict of interest between the institutional investors and the directors of Reliance Spinning Mills, as institutional investors bought shares at a high price.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Board has been instructed to provide detailed information about which institutional investors applied for shares through the book-building method and at what price. Recently, IPO-eligible institutional investors bought shares of the company, which has earnings of Rs 2.8 per share, for Rs 912. The general public will be able to buy shares at a 10% discount, with 10% of the total shares issued to Nepalis employed abroad at Rs 820.80 per share starting July 11.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21222', 'image' => '20240710083201_20240411023236_Sebon-update.jpg', 'article_date' => '2024-07-10 14:41:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21495', 'article_category_id' => '1', 'title' => 'Prices of Green Vegetables Up by 216 Percent in a Week', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of green vegetables has skyrocketed within a week due to road blockages caused by continuous rainfall.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The price of green vegetables has skyrocketed within a week due to road blockages caused by continuous rainfall. According to the daily price list of the Kalimati Fruit and Vegetable Market Development Committee, vegetable prices have increassed by 216 percent in just one week. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Geeta Prasad Acharya, president of the Kalimati Fruit and Vegetable Market Traders Committee, attributed the price hike to transportation issues following continuous rainfall. He noted that floods and landslides have disrupted vegetable transport in many parts of the country. While vegetables are sourced from districts near Kathmandu Valley, there have been difficulties in bringing vegetables from India and Terai districts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"It has been raining a little less since Tuesday. With the improvement of road conditions, the import of vegetables can gradually increase," Acharya said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">On July 1, the price of small local tomatoes was Rs 14 per kg, but by July 10, it had increased by 216 percent to Rs 45 per kg. The price of tomatoes produced in tunnels rose by over 141 percent, from Rs 22.80 to Rs 55 per kg.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During this period, the price of brinjal increased by 41.30 percent, from Rs 46 to Rs 65 per kg. The price of green pumpkin increased by 160 percent, from Rs 25 to Rs 65 per kg.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The committee's daily data shows that the import of small tomatoes decreased by 24 percent on July 9 compared to July 1. On July 1, 44 metric tons of small tomatoes arrived at the market, which dropped to 33 metric tons on July 9. During this period, the import of bitter gourds decreased from 33 metric tons to 16 metric tons, and the import of green pumpkin dropped from 11 metric tons to 3 metric tons.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Consumers complain that the price of vegetables in the local market is not comparable to that of the Kalimati vegetable market. Sarita Maharjan, a shopper at the Kirtipur vegetable market on Monday, said she couldn't find any vegetables for less than Rs 100 per kg. "I bought tomatoes for Rs 40 per kilo on Friday, and today it has reached Rs 100. We can’t afford to buy vegetables anymore,” she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Binay Shrestha, the information officer of the committee, confirmed that vegetable imports have decreased due to rain. "After the onset of rains, the import of vegetables naturally decreases. In particular, the arrival of seasonal vegetables has decreased. The import has decreased because the road has been damaged due to rain and farmers are busy with planting," he explained. At this time, vegetables from Makwanpur, Kavre, Chitwan, Nuwakot, Dhading, and other districts are supplied to Kalimati.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21221', 'image' => '20240710022802_20210701020007_20200806125217_1595453904.Clipboard03.jpg', 'article_date' => '2024-07-10 14:27:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21493', 'article_category_id' => '1', 'title' => 'Eighty-Three Killed in Flooding and Landslide Incidents', 'sub_title' => '', 'summary' => 'KATHMANDU: Eighty-three people have died in disaster-related incidents, including landslides and floods, triggered by relentless rains across the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Eighty-three people have died in disaster-related incidents, including landslides and floods, triggered by relentless rains across the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Police Headquarters, 33 men, 25 women, and 25 children have died in these incidents from June 10 till Wednesday morning. Central Police spokesperson and Deputy Inspector General Dan Bahadur Karki reported that 106 people have been injured, and five people, including three women and two men, are missing due to floods and landslides during this period. Among the injured, 51 are men, 36 are women, and 19 are children.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Additionally, 384 cattle have died in these incidents. Spokesperson Karki noted that 139 houses and 54 cattle sheds have been damaged due to flooding and landslides.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">So far, 5,428 police personnel have been mobilized to rescue those affected by the disasters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Floods and landslides have also damaged one school and two government office buildings. Forty-one bridges have been swept away, 161 houses have been submerged, and 116 ropanis of land have been buried by debris.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Police Headquarters reported that 2,954 families have been displaced across the country in 1,028 disaster-related incidents triggered by the incessant rains, causing losses equivalent to Rs 107 million.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21220', 'image' => '20240710014906_KDN_Dang-20240706_171042.jpg', 'article_date' => '2024-07-10 13:48:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21492', 'article_category_id' => '1', 'title' => 'Kanchanpur Records Highest Rainfall in 78 Years', 'sub_title' => '', 'summary' => 'KATHMANDU: Kanchanpur district in Sudurpaschim Province has recorded its highest rainfall in the past 78 years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">KATHMANDU: Kanchanpur district in Sudurpaschim Province has recorded its highest rainfall in the past 78 years. On July 7 and 8, Dodhara in Kanchanpur experienced the most significant rainfall since 2003 B.S.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Department of Hydrology and Meteorology, Dodhara, Hanumannagar, and Sundarpur in Kanchanpur received record rainfall. Preliminary data measured on July 8 at 08:45 a.m. showed that Dodhara received 624.0 mm of rain, Hanumannagar 573.6 mm, and Sundarpur 555.8 mm, all within 24 hours.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The monsoon season began in eastern Nepal on June 10 and spread to the western parts of the country two weeks later. It was most active from June 28 to July 8.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Previously, the highest recorded rainfall was 516.2 mm at Hetauda in Makwanpur on August 13, 2017. Additionally, the Soil Conservation Department recorded 540.0 mm of rain at the Tistung Rain Center in Makwanpur on July 20, 1993. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Pratibha Manandhar, a senior meteorologist, the monsoon, which was active in Sudurpaschim and Karnali provinces until two days ago, is now active in Koshi, Madhes, Bagmati, Lumbini, and Gandaki provinces. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21219', 'image' => '20240710125955_SS-Kanchanpur-24DSC00097(1)copy.JPG', 'article_date' => '2024-07-10 12:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21494', 'article_category_id' => '266', 'title' => 'Sujal Foods Launches Delite Dairy Whitener Across Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: Sujal Foods Pvt Ltd, a leading food company in Nepal, has introduced its latest product, Delite Dairy Whitener powdered milk, in the market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Sujal Foods Pvt Ltd, a leading food company in Nepal, has introduced its latest product, Delite Dairy Whitener powdered milk, in the market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The company said in a statement that the milk used in the Delite Dairy Whitener is collected from various regions across Nepal and is a 100% indigenous product that meets international standards. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The production process employs the latest technology and advanced machinery, added the statement issued by Sujal Foods. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The company claimed that Delite Dairy Whitener is thicker compared to other milk powders and is produced using an innovative Ultra Drying Spray Technology that allows it to dissolve instantly in lukewarm water, ensuring a smooth and uniform mixture.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the company, the modern metallic packaging ensures the powdered milk remains safe and fresh for up to 12 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Delite Dairy Whitener is thick, creamy, and delicious. It’s made with natural ingredients and has the rich taste of cow and buffalo milk. This powdered milk is perfect for making tea, coffee, and other milk dishes, making them even tastier,” reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The statement added that Delite Dairy Whitener is now available across Nepal at major retailers like Bhatbhateni, Sales Berry, and Big Mart, as well as local grocery stores and popular online platforms. It comes in two different packs including 400 grams for Rs 470 and 800 grams for Rs 900.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21218', 'image' => '20240710021020_Must Head Press Release.jpg', 'article_date' => '2024-07-10 14:09:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21491', 'article_category_id' => '1', 'title' => 'Government Fails to Meet Revised Budget Expenditure Target', 'sub_title' => '', 'summary' => 'KATHMANDU: Despite spending more than Rs 33 billion in a single day, the government did not meet the revised expenditure target for the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Despite spending more than Rs 33 billion in a single day, the government did not meet the revised expenditure target for the current fiscal year 2080/81. The government’s expenses on July 8 alone stood at Rs 33.61 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Financial Comptroller General Office (FCGO), the government spent Rs 9.85 billion under current expenditure, while Rs 14.44 billion was spent on capital expenditure on the last working day of the current fiscal year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of Tuesday morning, the capital expenditure of the entire year stood at only 56.97 percent of the target. Out of the revised target of Rs 215 billion, the government spent only Rs 172 billion under this heading.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the FCGO has stated that the government had set a revised target of spending Rs 1067 billion under the heading of current expenses, but it spent only Rs 933 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, it spent Rs 250 billion out of the revised target of Rs 247.55 billion towards financial management. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">For the current fiscal year, total government expenditure stands at Rs 1356 billion. The revised target, set during the mid-term budget review, was Rs 1530 billion, compared to the original budget of Rs 1751 billion announced on May 29 last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of June 15, government expenditure was Rs 1181.29 billion, indicating a significant increase in spending during the last month of the fiscal year before government accounts were frozen on July 9. All government payment accounts have been closed for a week since Monday midnight, in accordance with Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations, which mandates stopping disbursements one week before the fiscal year ends. Exceptions are made for urgent payments with the consent of the FCGO. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This closure applies to accounts operated by the FCGO, Provincial Financial Comptroller General Offices (PFCGO), and the Treasury and Finance Controller Offices of all districts, according to Deputy Financial Controller General Narayan Prasad Sapkota. The Sub-National Treasury Regulatory Application (SuTRA), Treasury Single Account System (TSA), and Computerized Government Accounting System (CGAS) have also been closed for a week, halting budget payment obligations at federal, state, and local levels from Monday midnight.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">With the fiscal year ending soon, the government is also unlikely to meet its revenue collection target. As of Tuesday morning, revenue collection was Rs 989 billion, just 69.59% of the target of Rs 1422 billion, forcing the government to rely more on debt to cover the shortfall.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government achieved only 5% of the target for receiving foreign grants, with Rs 2.75 billion received out of the estimated Rs 49.94 billion. The Ministry of Finance repeatedly stated that the revised target would be met, but this was not achieved this year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21217', 'image' => '20240710121017_budget.jpg', 'article_date' => '2024-07-10 12:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21490', 'article_category_id' => '1', 'title' => 'Agreements with China, Sri Lanka on Digital Payment in the Final Stage ', 'sub_title' => '', 'summary' => 'KATHMANDU: Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, on Tuesday announced that agreements with China and Sri Lanka on digital payments have reached the final stage.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span></span><span style="font-size:16.0pt">Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, on Tuesday announced that agreements with China and Sri Lanka on digital payments have reached the final stage.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Speaking at an interaction on next year's monetary policy organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Tuesday, Governor Adhikari said that agreements with China's Ali Pay and Sri Lanka's Lanka Pay for digital payment transactions are expected soon.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Adhikari noted that the volume of transactions with India has increased following the initiation of cross-border digital payments.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">He also mentioned that discussions with officials of the Reserve Bank of India are ongoing to enable transactions using Indian notes of denominations 500 and 1,000.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Governor Adhikari promised that objective analysis of facts, statistics, and practices will be conducted in preparing the monetary policy for the upcoming fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">During the interaction, FNCCI President Chandra Prasad Dhakal urged the Governor to develop a monetary policy that would encourage industries to enhance their production capacity and stimulate market demand. Dhakal noted that loan expansion is lackluster despite sufficient liquidity in banks and financial institutions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Dhakal also suggested that the monetary policy should include provisions to implement the announcement of reduced interest rates for the industrial sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">"Industries' capacity to repay loans has diminished due to the drop in demand. This issue must be addressed. We demand a policy that encourages investment," FNCCI President Dhakal stated. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21216', 'image' => '20240710113051_20210926011503_20200918073634_digita.jpg', 'article_date' => '2024-07-10 11:30:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21488', 'article_category_id' => '1', 'title' => 'Bangladesh Calls for Power Sales Agreement of 40 MW Electricity with NEA', 'sub_title' => 'Nepal set to receive 6.40 cents per unit of electricity exported to Bangladesh', 'summary' => 'KATHMANDU: The Bangladesh Power Development Board (BPDB) has written to the Nepal Electricity Authority (NEA) to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The Bangladesh Power Development Board (BPDB) has written to the Nepal Electricity Authority (NEA) to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal. BPDB sent a letter to the NEA on Monday, informing them that the concerned authority has agreed to the tender for the Power Sales Agreement (PSA) for 40 megawatts of electricity for six months during the rainy season.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">BPDB had called for a tender bid on January 1, 2024, for the purchase of 40 megawatts of electricity produced in Nepal, in accordance with the tripartite agreement between the entities of Bangladesh, India, and Nepal for a period of five years. The NEA submitted the tender document in the prescribed format, quoting the rate of electricity to be sold to Bangladesh. BPDB informed the NEA of its intention to accept the bid after evaluating the submitted documents and confirming acceptance by the relevant body.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA has to give a written response to BPDB within seven days regarding the acceptance of the deal. Following that, BPDB will provide the draft of the power sale agreement to the NEA, which needs to finalize the agreement within 28 days of receiving the draft. There will be a tripartite agreement between the NEA, NTPC Vidyut Vyapar Nigam (NVVN) of India, and BPDB.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Kulman Ghising, executive director of the NEA, said that after completing all the remaining processes, work has begun to export electricity to Bangladesh from this rainy season. "Since the three bodies have agreed on the draft of the tripartite electricity sale agreement, the agreement will be reached soon. Then we will send the list of projects to the Central Electricity Authority of India for approval to export electricity to Bangladesh. Since new projects will take time for approval, the electricity produced from the projects that have already received export approval in India will be exported to Bangladesh. We will send the proposal for approval,” said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA is preparing to export electricity produced by its subsidiaries, including the 25 MW Trishuli and 22 MW Chilime hydropower projects, which were built with Indian grants, to Bangladesh. Both these projects have received approval for power export from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA will sell 40 megawatts of electricity to Bangladesh for six months during the rainy season, i.e., from June 15 to November 15 each year for five years. The authority will receive 6.40 cents per unit by selling electricity to Bangladesh.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The authority will receive the price of electricity exported to Bangladesh through the Dhalkebar-Muzaffarpur 400 kV international transmission line between Nepal and India at the Muzaffarpur point in India. In other words, the meter of electricity exported to Bangladesh will be in Muzaffarpur. The NEA will bear the technical leakage of the transmission line from Dhalkebar to Muzaffarpur. Electricity will reach Bangladesh through the Bahrampur (India)-Bheramara (Bangladesh) 400 kV transmission line from Muzaffarpur via India's transmission line.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Kulman Ghising, the executive director of the NEA, said that Bangladesh will bear all the taxes and fees, including the transmission line fees, leakage charge, and the trading margin taken by NVVN after the Muzaffarpur point. Ghising mentioned that the per-unit rate of electricity will be around 7.6 cents when it reaches the border of Bangladesh.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"We will get 6.40 cents at the Muzaffarpur point. There is no risk of currency exchange as we will be paid in dollars. The rate we got is reasonable for the sale of electricity in the rainy season," he said. The electricity trade, which is set to begin symbolically in the first phase with Bangladesh at the government-to-government level, will help facilitate large-scale trade in the region in the coming days and open up many other avenues of electricity trade.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21215', 'image' => '20240709032311_20240223021605_banglad.jpg', 'article_date' => '2024-07-09 15:21:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21487', 'article_category_id' => '1', 'title' => '41 Bridges Swept Away by Floods, Physical Damage Exceeds 100 Million ', 'sub_title' => '', 'summary' => 'KATHMANDU: Seventy-eight people have lost their lives due to floods and landslides triggered by continuous rainfall in various parts of the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span>Seventy-eight people have lost their lives due to floods and landslides triggered by continuous rainfall in various parts of the country. The physical damage is estimated to be more than Rs 100 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Additionally, 90 people have been injured, and five are missing due to the flooding and landslides from June 10 until Tuesday morning, according to the Police Headquarters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The disasters have also resulted in the death of 381 cattle, the destruction of 98 cowsheds, and the displacement of 595 houses. Five thousand and forty-one police personnel have been mobilized for disaster management during this period, the police report stated.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Floods and landslides have damaged one school and two government office buildings, while 41 bridges have been swept away. Furthermore, 161 houses have been submerged, and 116 ropanis of land have been buried by debris.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Police Headquarters reported that 1,028 disaster-related incidents have occurred due to the incessant rains, resulting in losses equivalent to Rs 101,885,700. <span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21214', 'image' => '20240709015729_KDN-Dang-DSC_1164.jpg', 'article_date' => '2024-07-09 13:56:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21486', 'article_category_id' => '1', 'title' => 'WHO Agency says Talc is 'Probably' Cancer-Causing', 'sub_title' => '', 'summary' => 'LYON: The World Health Organization's cancer agency has classified talc as "probably carcinogenic" for humans. However, an outside expert warned against misinterpreting the announcement as a "smoking gun", AFP reported.', 'content' => '<p><span style="font-size:18px">LYON: The World Health Organization's cancer agency has classified talc as "probably carcinogenic" for humans. However, an outside expert warned against misinterpreting the announcement as a "smoking gun", AFP reported.</span></p> <p><span style="font-size:18px">The news agency, citing the WHO's International Agency for Research on Cancer (IARC), said the decision was based on "limited evidence" talc could cause ovarian cancer in humans, "sufficient evidence" it was linked to cancer in rats and "strong mechanistic evidence" that it shows carcinogenic signs in human cells.</span></p> <p><span style="font-size:18px">According to AFP, talc is a naturally occurring mineral which is mined in many parts of the world and is often used to make talcum baby powder.</span></p> <p><span style="font-size:18px">Most people are exposed to talc in the form of baby powder or cosmetics, according to the Lyon-based IARC.</span></p> <p><span style="font-size:18px">But the most significant exposure to talc occurs when talc is being mined, processed or used to make products, it added.</span></p> <p><span style="font-size:18px">The agency said there were numerous studies which consistently showed an increase in the rate of ovarian cancer in women who use talc on their genitals.</span></p> <p><span style="font-size:18px">But it could not rule out that the talc in some studies was contaminated with cancer-causing asbestos.</span></p> <p><span style="font-size:18px">"A causal role for talc could not be fully established," according the agency's findings published in The Lancet Oncology.</span></p> <p><span style="font-size:18px">Kevin McConway, a statistician at the UK's Open University not involved the research, warned that for the IARC's evaluation, the "most obvious interpretation is actually misleading".</span></p> <p><span style="font-size:18px">The agency is only aiming "to answer the question of whether the substance has the potential to cause cancer, under some conditions that IARC do not specify," AFP quoted him as saying.</span></p> <p><span style="font-size:18px">Because the studies were observational and so could not prove causation, "there isn't a smoking gun that the talc use causes any increased cancer risk," he added.</span></p> <p><span style="font-size:18px">The announcement comes just weeks after US pharmaceutical and cosmetics giant Johnson & Johnson agreed to pay $700 million to settle allegations it misled customers about the safety of its talcum-based powder products.</span></p> <p><span style="font-size:18px">Johnson & Johnson did not admit wrongdoing in its settlement, even though it withdrew the product from the North American market in 2020.</span></p> <p><span style="font-size:18px">A summary of studies published in 2020 covering 250,000 women in the United States did not find a statistical link between the use of talc on the genitals and the risk of ovarian cancer.</span></p> <p><span style="font-size:18px">Also on Friday, the IARC classified acrylonitrile, a chemical compound used to make polymers, as "carcinogenic to humans", its highest warning level.</span></p> <p><span style="font-size:18px">It cited "sufficient evidence" linking acrylonitrile to lung cancer.</span></p> <p><span style="font-size:18px">The polymers made with acrylonitrile are used in everything from fibres in clothes to carpets, plastics and other consumer products. -- AFP</span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'talc, UN, powder, baby, cancer', 'description' => '', 'sortorder' => '21213', 'image' => '20240709014538_IARC-e1536828504833.jpg', 'article_date' => '2024-07-09 13:43:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21484', 'article_category_id' => '1', 'title' => 'Nepal to Host South Asian Travel Award in September ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal is all set to host the eighth edition of the South Asian Travel Award (SATA) in Kathmandu on September 19-20. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepal is all set to host the eighth edition of the South Asian Travel Award (SATA) in Kathmandu on September 19-20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisers said that the event to confer awards will be attended by the representatives of over 250 hotels, travel agencies, airlines and media from six countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference held in the capital on Monday to share information about the event, the organizers said that 44 awards in various categories would be distributed on the occasion. Those excelling in the hospitality in South Asian region would be conferred with the awards, added the organisers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The event, which will feature trade and entrepreneurship exchanges on travel, is supported by Nepal Tourism Board and the Hotel Association Nepal. The Malla Hotel and Aloft Hotel are the event partners. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the press meet, Vice Chairman of Nepal Tourism Board, Ram Prasad Sapkota, said the SATA would play a significant role in promoting tourism and hospitality businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Chief of Board, Nandini Lahe Thapa, expressed pleasure to host such an event in Nepal, which could help prop up tourism development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairman of the Hotel Association Nepal, Binayak Shah, expressed belief that the award handover programme would be helpful to revive tourism which suffered much in the recent past. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Executive Officer of the Hotel Association of Nepal, Tek Bahadur Mahat, is one of the jury members from Nepal for the award selection. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21212', 'image' => '20240709103359_sata.jpg', 'article_date' => '2024-07-09 10:33:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21480', 'article_category_id' => '1', 'title' => 'President Certifies Bill on Investment Facilitation', 'sub_title' => '', 'summary' => 'KATHMANDU: President Ram Chandra Paudel has certified the Bill designed to amend some Nepal Acts, 2081 BS to facilitate investment. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">KATHMANDU: President Ram Chandra Paudel has certified the Bill designed to amend some Nepal Acts, 2081 BS to facilitate investment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The bill passed by both houses of the federal parliament was certified by President Paudel on Monday in accordance with Article 113 (2) of the Constitution, says a statement issued by Spokesperson for the Office of the President, Shailaja Regmi Bhattarai.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The private sector as well as other stakeholders including foreign investors had been long demanding amendment to the laws to facilitate investment in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Targeting the Third Investment Summit held in late April, the government had issued an ordinance to amend 12 laws and regulations including the Foreign Investment and Technology Transfer Act 2075, Industrial Enterprises Act 2076, Forest Act, and Land-related laws, focusing on attracting foreign investment and technology transfer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">With the objective of increasing investment in the country, the government had earlier reduced the minimum limit required for foreign investment to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The government has already adopted a one-door policy to facilitate foreign investment. However, critics say that the Department of Industry, which oversees this system, lacks the required number of human resources.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'President, authenticates, bill, investment, facilitation, Nepal, one, door, policy', 'description' => '', 'sortorder' => '21210', 'image' => '20240709095731_20240708083915_20221114081312_Clipboard65.jpg', 'article_date' => '2024-07-09 09:56:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21489', 'article_category_id' => '1', 'title' => 'NEPSE Index Rises by 15.79 Points to Close at 2152.14', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw an increase of 15.79 points today, marking a 0.73% rise and closing at 2,152.14 points. This gain follows a previous session loss of 4.62 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 9: The Nepal Stock Exchange (NEPSE) Index saw an increase of 15.79 points today, marking a 0.73% rise and closing at 2,152.14 points. This gain follows yesterday's loss of 4.62 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 316 stocks were traded through across 66,716 transactions on the NEPSE. A total of 11,661,208 units of shares were exchanged, resulting into a total turnover of Rs 5.53 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) led the market in turnover, achieving Rs. 197.7 million and closing at Rs. 735 per share. Ganapati Laghubitta Bittiya Sanstha Limited (GMFBS) and Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) both hit the positive circuit, surging by 10% each.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the downside, Siddhartha Investment Growth Scheme - 2 (SIGS2) experienced the highest loss, dropping 5.47%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In sector performance, four sector indices ended the day in negative territory. The "Manufacturing and Processing Index" recorded the highest sectoral loss of 0.54%, while the "Microfinance Index" saw the highest gain, increasing by 3.06%.</span></span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21209', 'image' => '20240709040413_collage (63).jpg', 'article_date' => '2024-07-09 16:03:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '21483', 'article_category_id' => '1', 'title' => 'Govt Gears Up to Extract Iron from Dhaubadi Mine', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is planning to operate an iron mine in the country to reduce the excessive import of iron.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: T</span></span><span style="font-size:13.5pt">he government is planning to operate an iron mine in the country to reduce the excessive import of iron.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Department of Mines and Geology has decided to excavate iron in Nawalparasi (East) after discovering iron ore in between Namjakot and Dhaubadi area of Hupsekot Rural Municipality-5, Nawalparasi (East).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">During the study, a significant amount of iron ore was found in the 10 km area of Dhaubadi. The Council of Ministers decided to establish 'Dhaubadi Iron Company Limited' on August 21, 2019. The company was registered with the company registrar's office on September 26 the same year, under the name "Dhaubadi Iron Company Limited," and has been operating since February 2020.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">India's M & Dastur, SRK, and Nepal's Z Company spent eight months exploring iron ore in the area. The study report indicates that iron production can begin from 2027 onwards.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Chief Executive Officer (CEO) of the company, Dr. Janak Bahadur Chand, stated that a detailed feasibility study for establishing an iron/steel industry based on the Dhaubadi iron ore mine has been completed, and the final report has been received.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The study suggests that iron and steel production is feasible from both technical and financial perspectives. The company is now planned for seismic assessments, environmental impact assessments, and the preparation of a detailed project report.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Dr. Chand said that once the industry starts operation, around 2,000 to 2,500 individuals will be employed directly, with an additional 20,000 to 25,000 employed indirectly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The project is estimated to cost Rs 51.25 billion. It is anticipated that the company will take seven years to achieve profitability and recover its initial investment. Land acquisition processes have already commenced in Kawasoti and Devchuli municipalities in East Nawalparasi for the establishment of the industry.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">It is estimated that there is a deposit of 99 million tonnes of iron ore in the area, of which 96 million tonnes can be extracted. The company’s chairperson and the department’s director-general Ram Prasad Ghimire said that the department has been studying the mine since 2011. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21206', 'image' => '20240709103307_20240708093843_20220328101003_1648364690.धौबादी_फलाम_कम्पनी_लिमिटेड.jpg', 'article_date' => '2024-07-09 10:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The share of Indian currency in total reserves stood at 22.3 percent in mid-June 2024.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on the imports of eleven months of 2023/24, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 15.1 months, and merchandise and services imports of 12.6 months, the NRB further said in the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the country’s current account remained at a surplus of Rs 200.39 billion in the first eleven months of the current fiscal year, the report added. According to the central bank, the current account remained at a deficit of Rs 79.53 billion in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the US Dollar terms, the current account registered a surplus of 1.51 billion in the review period against a deficit of 613.2 million in the same period last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 25.7 percent to Rs 5.46 billion and net foreign direct investment (FDI) remained a positive of Rs 8.16 billion, the report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the corresponding period of the previous year, capital transfer amounted to Rs 7.35 billion and net FDI amounted to Rs 4.65 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the Balance of Payments (BOP) remained at a surplus of Rs 425.67 billion in the review period against a surplus of Rs 224.9 billion in the same period of the previous year, the NRB report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the US Dollar terms, the BOP remained at a surplus of 3.2 billion in the review period against a surplus of 1.71 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21226', 'image' => '20240710091940_20230710020950_dollar.jpg', 'article_date' => '2024-07-10 21:18:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21496', 'article_category_id' => '1', 'title' => 'House Committee Seeks Clarifications from SEBON over Reliance Spinning Mills’ IPO', 'sub_title' => '', 'summary' => 'KATHMANDU: Reliance Spinning Mills, which previously maintained a high share price by reporting a high net worth per share, recently published a report showing a decrease in the actual net worth per share, raising questions about its value.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Reliance Spinning Mills, which previously maintained a high share price by reporting a high net worth per share, recently published a report showing a decrease in the actual net worth per share, raising questions about its value.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Public Accounts Committee of the House of Representatives has sought an explanation from the Securities Board of Nepal after allegations that Reliance Spinning Mills was allowed to issue shares at a high price without proper financial scrutiny. The Board had recently permitted the company to issue ordinary shares (IPO) to the public at Rs 820.8 per share through the book-building method on June 26. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors have questioned the company's value, alleging it hid potential liabilities to the Nepal Electricity Authority. As a result, institutional investors bought shares at a high price and sold them to the general public at a 10% discount, keeping the share price high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The book-building method is a process used in initial public offerings (IPOs) to determine the price at which a company's shares will be offered to the public. The book-building method helps to ensure that the share price reflects market demand and allows for a more efficient and fair pricing mechanism compared to fixed-price offerings. This method has come under scrutiny due to disputes regarding the IPO of Reliance Spinning Mills.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Public Accounts Committee has asked the Securities Board of Nepal to answer five specific questions within seven days. The committee is concerned about the safety of investors' investments, given that the company's earnings per share have been declining for the last three fiscal years. The committee also noted inconsistencies between the company's projected and actual financial statements. Last year, Reliance Spinning Mills reported earnings per share of Rs 54.34, but this has now dropped to Rs 2.8. The committee questioned whether there was manipulation in the preparation of the financial statements.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the committee asked for clear information regarding the discrepancy between the projected earnings per share of Rs 54.34 for the year 2079/80 and the actual earnings per share of Rs 2.8 for the year 2080/81. The committee also questioned whether there was a conflict of interest between the institutional investors and the directors of Reliance Spinning Mills, as institutional investors bought shares at a high price.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Board has been instructed to provide detailed information about which institutional investors applied for shares through the book-building method and at what price. Recently, IPO-eligible institutional investors bought shares of the company, which has earnings of Rs 2.8 per share, for Rs 912. The general public will be able to buy shares at a 10% discount, with 10% of the total shares issued to Nepalis employed abroad at Rs 820.80 per share starting July 11.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21222', 'image' => '20240710083201_20240411023236_Sebon-update.jpg', 'article_date' => '2024-07-10 14:41:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21495', 'article_category_id' => '1', 'title' => 'Prices of Green Vegetables Up by 216 Percent in a Week', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of green vegetables has skyrocketed within a week due to road blockages caused by continuous rainfall.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The price of green vegetables has skyrocketed within a week due to road blockages caused by continuous rainfall. According to the daily price list of the Kalimati Fruit and Vegetable Market Development Committee, vegetable prices have increassed by 216 percent in just one week. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Geeta Prasad Acharya, president of the Kalimati Fruit and Vegetable Market Traders Committee, attributed the price hike to transportation issues following continuous rainfall. He noted that floods and landslides have disrupted vegetable transport in many parts of the country. While vegetables are sourced from districts near Kathmandu Valley, there have been difficulties in bringing vegetables from India and Terai districts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"It has been raining a little less since Tuesday. With the improvement of road conditions, the import of vegetables can gradually increase," Acharya said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">On July 1, the price of small local tomatoes was Rs 14 per kg, but by July 10, it had increased by 216 percent to Rs 45 per kg. The price of tomatoes produced in tunnels rose by over 141 percent, from Rs 22.80 to Rs 55 per kg.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During this period, the price of brinjal increased by 41.30 percent, from Rs 46 to Rs 65 per kg. The price of green pumpkin increased by 160 percent, from Rs 25 to Rs 65 per kg.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The committee's daily data shows that the import of small tomatoes decreased by 24 percent on July 9 compared to July 1. On July 1, 44 metric tons of small tomatoes arrived at the market, which dropped to 33 metric tons on July 9. During this period, the import of bitter gourds decreased from 33 metric tons to 16 metric tons, and the import of green pumpkin dropped from 11 metric tons to 3 metric tons.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Consumers complain that the price of vegetables in the local market is not comparable to that of the Kalimati vegetable market. Sarita Maharjan, a shopper at the Kirtipur vegetable market on Monday, said she couldn't find any vegetables for less than Rs 100 per kg. "I bought tomatoes for Rs 40 per kilo on Friday, and today it has reached Rs 100. We can’t afford to buy vegetables anymore,” she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Binay Shrestha, the information officer of the committee, confirmed that vegetable imports have decreased due to rain. "After the onset of rains, the import of vegetables naturally decreases. In particular, the arrival of seasonal vegetables has decreased. The import has decreased because the road has been damaged due to rain and farmers are busy with planting," he explained. At this time, vegetables from Makwanpur, Kavre, Chitwan, Nuwakot, Dhading, and other districts are supplied to Kalimati.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21221', 'image' => '20240710022802_20210701020007_20200806125217_1595453904.Clipboard03.jpg', 'article_date' => '2024-07-10 14:27:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21493', 'article_category_id' => '1', 'title' => 'Eighty-Three Killed in Flooding and Landslide Incidents', 'sub_title' => '', 'summary' => 'KATHMANDU: Eighty-three people have died in disaster-related incidents, including landslides and floods, triggered by relentless rains across the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Eighty-three people have died in disaster-related incidents, including landslides and floods, triggered by relentless rains across the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Police Headquarters, 33 men, 25 women, and 25 children have died in these incidents from June 10 till Wednesday morning. Central Police spokesperson and Deputy Inspector General Dan Bahadur Karki reported that 106 people have been injured, and five people, including three women and two men, are missing due to floods and landslides during this period. Among the injured, 51 are men, 36 are women, and 19 are children.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Additionally, 384 cattle have died in these incidents. Spokesperson Karki noted that 139 houses and 54 cattle sheds have been damaged due to flooding and landslides.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">So far, 5,428 police personnel have been mobilized to rescue those affected by the disasters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Floods and landslides have also damaged one school and two government office buildings. Forty-one bridges have been swept away, 161 houses have been submerged, and 116 ropanis of land have been buried by debris.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Police Headquarters reported that 2,954 families have been displaced across the country in 1,028 disaster-related incidents triggered by the incessant rains, causing losses equivalent to Rs 107 million.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21220', 'image' => '20240710014906_KDN_Dang-20240706_171042.jpg', 'article_date' => '2024-07-10 13:48:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21492', 'article_category_id' => '1', 'title' => 'Kanchanpur Records Highest Rainfall in 78 Years', 'sub_title' => '', 'summary' => 'KATHMANDU: Kanchanpur district in Sudurpaschim Province has recorded its highest rainfall in the past 78 years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">KATHMANDU: Kanchanpur district in Sudurpaschim Province has recorded its highest rainfall in the past 78 years. On July 7 and 8, Dodhara in Kanchanpur experienced the most significant rainfall since 2003 B.S.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Department of Hydrology and Meteorology, Dodhara, Hanumannagar, and Sundarpur in Kanchanpur received record rainfall. Preliminary data measured on July 8 at 08:45 a.m. showed that Dodhara received 624.0 mm of rain, Hanumannagar 573.6 mm, and Sundarpur 555.8 mm, all within 24 hours.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The monsoon season began in eastern Nepal on June 10 and spread to the western parts of the country two weeks later. It was most active from June 28 to July 8.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Previously, the highest recorded rainfall was 516.2 mm at Hetauda in Makwanpur on August 13, 2017. Additionally, the Soil Conservation Department recorded 540.0 mm of rain at the Tistung Rain Center in Makwanpur on July 20, 1993. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Pratibha Manandhar, a senior meteorologist, the monsoon, which was active in Sudurpaschim and Karnali provinces until two days ago, is now active in Koshi, Madhes, Bagmati, Lumbini, and Gandaki provinces. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21219', 'image' => '20240710125955_SS-Kanchanpur-24DSC00097(1)copy.JPG', 'article_date' => '2024-07-10 12:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21494', 'article_category_id' => '266', 'title' => 'Sujal Foods Launches Delite Dairy Whitener Across Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: Sujal Foods Pvt Ltd, a leading food company in Nepal, has introduced its latest product, Delite Dairy Whitener powdered milk, in the market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Sujal Foods Pvt Ltd, a leading food company in Nepal, has introduced its latest product, Delite Dairy Whitener powdered milk, in the market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The company said in a statement that the milk used in the Delite Dairy Whitener is collected from various regions across Nepal and is a 100% indigenous product that meets international standards. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The production process employs the latest technology and advanced machinery, added the statement issued by Sujal Foods. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The company claimed that Delite Dairy Whitener is thicker compared to other milk powders and is produced using an innovative Ultra Drying Spray Technology that allows it to dissolve instantly in lukewarm water, ensuring a smooth and uniform mixture.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the company, the modern metallic packaging ensures the powdered milk remains safe and fresh for up to 12 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Delite Dairy Whitener is thick, creamy, and delicious. It’s made with natural ingredients and has the rich taste of cow and buffalo milk. This powdered milk is perfect for making tea, coffee, and other milk dishes, making them even tastier,” reads the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The statement added that Delite Dairy Whitener is now available across Nepal at major retailers like Bhatbhateni, Sales Berry, and Big Mart, as well as local grocery stores and popular online platforms. It comes in two different packs including 400 grams for Rs 470 and 800 grams for Rs 900.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21218', 'image' => '20240710021020_Must Head Press Release.jpg', 'article_date' => '2024-07-10 14:09:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21491', 'article_category_id' => '1', 'title' => 'Government Fails to Meet Revised Budget Expenditure Target', 'sub_title' => '', 'summary' => 'KATHMANDU: Despite spending more than Rs 33 billion in a single day, the government did not meet the revised expenditure target for the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Despite spending more than Rs 33 billion in a single day, the government did not meet the revised expenditure target for the current fiscal year 2080/81. The government’s expenses on July 8 alone stood at Rs 33.61 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Financial Comptroller General Office (FCGO), the government spent Rs 9.85 billion under current expenditure, while Rs 14.44 billion was spent on capital expenditure on the last working day of the current fiscal year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of Tuesday morning, the capital expenditure of the entire year stood at only 56.97 percent of the target. Out of the revised target of Rs 215 billion, the government spent only Rs 172 billion under this heading.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the FCGO has stated that the government had set a revised target of spending Rs 1067 billion under the heading of current expenses, but it spent only Rs 933 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, it spent Rs 250 billion out of the revised target of Rs 247.55 billion towards financial management. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">For the current fiscal year, total government expenditure stands at Rs 1356 billion. The revised target, set during the mid-term budget review, was Rs 1530 billion, compared to the original budget of Rs 1751 billion announced on May 29 last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of June 15, government expenditure was Rs 1181.29 billion, indicating a significant increase in spending during the last month of the fiscal year before government accounts were frozen on July 9. All government payment accounts have been closed for a week since Monday midnight, in accordance with Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations, which mandates stopping disbursements one week before the fiscal year ends. Exceptions are made for urgent payments with the consent of the FCGO. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This closure applies to accounts operated by the FCGO, Provincial Financial Comptroller General Offices (PFCGO), and the Treasury and Finance Controller Offices of all districts, according to Deputy Financial Controller General Narayan Prasad Sapkota. The Sub-National Treasury Regulatory Application (SuTRA), Treasury Single Account System (TSA), and Computerized Government Accounting System (CGAS) have also been closed for a week, halting budget payment obligations at federal, state, and local levels from Monday midnight.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">With the fiscal year ending soon, the government is also unlikely to meet its revenue collection target. As of Tuesday morning, revenue collection was Rs 989 billion, just 69.59% of the target of Rs 1422 billion, forcing the government to rely more on debt to cover the shortfall.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government achieved only 5% of the target for receiving foreign grants, with Rs 2.75 billion received out of the estimated Rs 49.94 billion. The Ministry of Finance repeatedly stated that the revised target would be met, but this was not achieved this year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21217', 'image' => '20240710121017_budget.jpg', 'article_date' => '2024-07-10 12:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21490', 'article_category_id' => '1', 'title' => 'Agreements with China, Sri Lanka on Digital Payment in the Final Stage ', 'sub_title' => '', 'summary' => 'KATHMANDU: Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, on Tuesday announced that agreements with China and Sri Lanka on digital payments have reached the final stage.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span></span><span style="font-size:16.0pt">Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, on Tuesday announced that agreements with China and Sri Lanka on digital payments have reached the final stage.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Speaking at an interaction on next year's monetary policy organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Tuesday, Governor Adhikari said that agreements with China's Ali Pay and Sri Lanka's Lanka Pay for digital payment transactions are expected soon.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Adhikari noted that the volume of transactions with India has increased following the initiation of cross-border digital payments.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">He also mentioned that discussions with officials of the Reserve Bank of India are ongoing to enable transactions using Indian notes of denominations 500 and 1,000.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Governor Adhikari promised that objective analysis of facts, statistics, and practices will be conducted in preparing the monetary policy for the upcoming fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">During the interaction, FNCCI President Chandra Prasad Dhakal urged the Governor to develop a monetary policy that would encourage industries to enhance their production capacity and stimulate market demand. Dhakal noted that loan expansion is lackluster despite sufficient liquidity in banks and financial institutions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">Dhakal also suggested that the monetary policy should include provisions to implement the announcement of reduced interest rates for the industrial sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:16.0pt">"Industries' capacity to repay loans has diminished due to the drop in demand. This issue must be addressed. We demand a policy that encourages investment," FNCCI President Dhakal stated. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-10', 'modified' => '2024-07-10', 'keywords' => '', 'description' => '', 'sortorder' => '21216', 'image' => '20240710113051_20210926011503_20200918073634_digita.jpg', 'article_date' => '2024-07-10 11:30:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21488', 'article_category_id' => '1', 'title' => 'Bangladesh Calls for Power Sales Agreement of 40 MW Electricity with NEA', 'sub_title' => 'Nepal set to receive 6.40 cents per unit of electricity exported to Bangladesh', 'summary' => 'KATHMANDU: The Bangladesh Power Development Board (BPDB) has written to the Nepal Electricity Authority (NEA) to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The Bangladesh Power Development Board (BPDB) has written to the Nepal Electricity Authority (NEA) to enter into an agreement for the purchase and sale of 40 megawatts of electricity produced in Nepal. BPDB sent a letter to the NEA on Monday, informing them that the concerned authority has agreed to the tender for the Power Sales Agreement (PSA) for 40 megawatts of electricity for six months during the rainy season.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">BPDB had called for a tender bid on January 1, 2024, for the purchase of 40 megawatts of electricity produced in Nepal, in accordance with the tripartite agreement between the entities of Bangladesh, India, and Nepal for a period of five years. The NEA submitted the tender document in the prescribed format, quoting the rate of electricity to be sold to Bangladesh. BPDB informed the NEA of its intention to accept the bid after evaluating the submitted documents and confirming acceptance by the relevant body.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA has to give a written response to BPDB within seven days regarding the acceptance of the deal. Following that, BPDB will provide the draft of the power sale agreement to the NEA, which needs to finalize the agreement within 28 days of receiving the draft. There will be a tripartite agreement between the NEA, NTPC Vidyut Vyapar Nigam (NVVN) of India, and BPDB.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Kulman Ghising, executive director of the NEA, said that after completing all the remaining processes, work has begun to export electricity to Bangladesh from this rainy season. "Since the three bodies have agreed on the draft of the tripartite electricity sale agreement, the agreement will be reached soon. Then we will send the list of projects to the Central Electricity Authority of India for approval to export electricity to Bangladesh. Since new projects will take time for approval, the electricity produced from the projects that have already received export approval in India will be exported to Bangladesh. We will send the proposal for approval,” said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA is preparing to export electricity produced by its subsidiaries, including the 25 MW Trishuli and 22 MW Chilime hydropower projects, which were built with Indian grants, to Bangladesh. Both these projects have received approval for power export from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA will sell 40 megawatts of electricity to Bangladesh for six months during the rainy season, i.e., from June 15 to November 15 each year for five years. The authority will receive 6.40 cents per unit by selling electricity to Bangladesh.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The authority will receive the price of electricity exported to Bangladesh through the Dhalkebar-Muzaffarpur 400 kV international transmission line between Nepal and India at the Muzaffarpur point in India. In other words, the meter of electricity exported to Bangladesh will be in Muzaffarpur. The NEA will bear the technical leakage of the transmission line from Dhalkebar to Muzaffarpur. Electricity will reach Bangladesh through the Bahrampur (India)-Bheramara (Bangladesh) 400 kV transmission line from Muzaffarpur via India's transmission line.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Kulman Ghising, the executive director of the NEA, said that Bangladesh will bear all the taxes and fees, including the transmission line fees, leakage charge, and the trading margin taken by NVVN after the Muzaffarpur point. Ghising mentioned that the per-unit rate of electricity will be around 7.6 cents when it reaches the border of Bangladesh.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"We will get 6.40 cents at the Muzaffarpur point. There is no risk of currency exchange as we will be paid in dollars. The rate we got is reasonable for the sale of electricity in the rainy season," he said. The electricity trade, which is set to begin symbolically in the first phase with Bangladesh at the government-to-government level, will help facilitate large-scale trade in the region in the coming days and open up many other avenues of electricity trade.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21215', 'image' => '20240709032311_20240223021605_banglad.jpg', 'article_date' => '2024-07-09 15:21:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21487', 'article_category_id' => '1', 'title' => '41 Bridges Swept Away by Floods, Physical Damage Exceeds 100 Million ', 'sub_title' => '', 'summary' => 'KATHMANDU: Seventy-eight people have lost their lives due to floods and landslides triggered by continuous rainfall in various parts of the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span>Seventy-eight people have lost their lives due to floods and landslides triggered by continuous rainfall in various parts of the country. The physical damage is estimated to be more than Rs 100 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Additionally, 90 people have been injured, and five are missing due to the flooding and landslides from June 10 until Tuesday morning, according to the Police Headquarters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The disasters have also resulted in the death of 381 cattle, the destruction of 98 cowsheds, and the displacement of 595 houses. Five thousand and forty-one police personnel have been mobilized for disaster management during this period, the police report stated.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Floods and landslides have damaged one school and two government office buildings, while 41 bridges have been swept away. Furthermore, 161 houses have been submerged, and 116 ropanis of land have been buried by debris.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Police Headquarters reported that 1,028 disaster-related incidents have occurred due to the incessant rains, resulting in losses equivalent to Rs 101,885,700. <span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21214', 'image' => '20240709015729_KDN-Dang-DSC_1164.jpg', 'article_date' => '2024-07-09 13:56:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21486', 'article_category_id' => '1', 'title' => 'WHO Agency says Talc is 'Probably' Cancer-Causing', 'sub_title' => '', 'summary' => 'LYON: The World Health Organization's cancer agency has classified talc as "probably carcinogenic" for humans. However, an outside expert warned against misinterpreting the announcement as a "smoking gun", AFP reported.', 'content' => '<p><span style="font-size:18px">LYON: The World Health Organization's cancer agency has classified talc as "probably carcinogenic" for humans. However, an outside expert warned against misinterpreting the announcement as a "smoking gun", AFP reported.</span></p> <p><span style="font-size:18px">The news agency, citing the WHO's International Agency for Research on Cancer (IARC), said the decision was based on "limited evidence" talc could cause ovarian cancer in humans, "sufficient evidence" it was linked to cancer in rats and "strong mechanistic evidence" that it shows carcinogenic signs in human cells.</span></p> <p><span style="font-size:18px">According to AFP, talc is a naturally occurring mineral which is mined in many parts of the world and is often used to make talcum baby powder.</span></p> <p><span style="font-size:18px">Most people are exposed to talc in the form of baby powder or cosmetics, according to the Lyon-based IARC.</span></p> <p><span style="font-size:18px">But the most significant exposure to talc occurs when talc is being mined, processed or used to make products, it added.</span></p> <p><span style="font-size:18px">The agency said there were numerous studies which consistently showed an increase in the rate of ovarian cancer in women who use talc on their genitals.</span></p> <p><span style="font-size:18px">But it could not rule out that the talc in some studies was contaminated with cancer-causing asbestos.</span></p> <p><span style="font-size:18px">"A causal role for talc could not be fully established," according the agency's findings published in The Lancet Oncology.</span></p> <p><span style="font-size:18px">Kevin McConway, a statistician at the UK's Open University not involved the research, warned that for the IARC's evaluation, the "most obvious interpretation is actually misleading".</span></p> <p><span style="font-size:18px">The agency is only aiming "to answer the question of whether the substance has the potential to cause cancer, under some conditions that IARC do not specify," AFP quoted him as saying.</span></p> <p><span style="font-size:18px">Because the studies were observational and so could not prove causation, "there isn't a smoking gun that the talc use causes any increased cancer risk," he added.</span></p> <p><span style="font-size:18px">The announcement comes just weeks after US pharmaceutical and cosmetics giant Johnson & Johnson agreed to pay $700 million to settle allegations it misled customers about the safety of its talcum-based powder products.</span></p> <p><span style="font-size:18px">Johnson & Johnson did not admit wrongdoing in its settlement, even though it withdrew the product from the North American market in 2020.</span></p> <p><span style="font-size:18px">A summary of studies published in 2020 covering 250,000 women in the United States did not find a statistical link between the use of talc on the genitals and the risk of ovarian cancer.</span></p> <p><span style="font-size:18px">Also on Friday, the IARC classified acrylonitrile, a chemical compound used to make polymers, as "carcinogenic to humans", its highest warning level.</span></p> <p><span style="font-size:18px">It cited "sufficient evidence" linking acrylonitrile to lung cancer.</span></p> <p><span style="font-size:18px">The polymers made with acrylonitrile are used in everything from fibres in clothes to carpets, plastics and other consumer products. -- AFP</span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'talc, UN, powder, baby, cancer', 'description' => '', 'sortorder' => '21213', 'image' => '20240709014538_IARC-e1536828504833.jpg', 'article_date' => '2024-07-09 13:43:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21484', 'article_category_id' => '1', 'title' => 'Nepal to Host South Asian Travel Award in September ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal is all set to host the eighth edition of the South Asian Travel Award (SATA) in Kathmandu on September 19-20. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepal is all set to host the eighth edition of the South Asian Travel Award (SATA) in Kathmandu on September 19-20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisers said that the event to confer awards will be attended by the representatives of over 250 hotels, travel agencies, airlines and media from six countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference held in the capital on Monday to share information about the event, the organizers said that 44 awards in various categories would be distributed on the occasion. Those excelling in the hospitality in South Asian region would be conferred with the awards, added the organisers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The event, which will feature trade and entrepreneurship exchanges on travel, is supported by Nepal Tourism Board and the Hotel Association Nepal. The Malla Hotel and Aloft Hotel are the event partners. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the press meet, Vice Chairman of Nepal Tourism Board, Ram Prasad Sapkota, said the SATA would play a significant role in promoting tourism and hospitality businesses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Chief of Board, Nandini Lahe Thapa, expressed pleasure to host such an event in Nepal, which could help prop up tourism development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairman of the Hotel Association Nepal, Binayak Shah, expressed belief that the award handover programme would be helpful to revive tourism which suffered much in the recent past. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Executive Officer of the Hotel Association of Nepal, Tek Bahadur Mahat, is one of the jury members from Nepal for the award selection. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21212', 'image' => '20240709103359_sata.jpg', 'article_date' => '2024-07-09 10:33:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21480', 'article_category_id' => '1', 'title' => 'President Certifies Bill on Investment Facilitation', 'sub_title' => '', 'summary' => 'KATHMANDU: President Ram Chandra Paudel has certified the Bill designed to amend some Nepal Acts, 2081 BS to facilitate investment. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">KATHMANDU: President Ram Chandra Paudel has certified the Bill designed to amend some Nepal Acts, 2081 BS to facilitate investment. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The bill passed by both houses of the federal parliament was certified by President Paudel on Monday in accordance with Article 113 (2) of the Constitution, says a statement issued by Spokesperson for the Office of the President, Shailaja Regmi Bhattarai.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The private sector as well as other stakeholders including foreign investors had been long demanding amendment to the laws to facilitate investment in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Targeting the Third Investment Summit held in late April, the government had issued an ordinance to amend 12 laws and regulations including the Foreign Investment and Technology Transfer Act 2075, Industrial Enterprises Act 2076, Forest Act, and Land-related laws, focusing on attracting foreign investment and technology transfer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">With the objective of increasing investment in the country, the government had earlier reduced the minimum limit required for foreign investment to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The government has already adopted a one-door policy to facilitate foreign investment. However, critics say that the Department of Industry, which oversees this system, lacks the required number of human resources.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'President, authenticates, bill, investment, facilitation, Nepal, one, door, policy', 'description' => '', 'sortorder' => '21210', 'image' => '20240709095731_20240708083915_20221114081312_Clipboard65.jpg', 'article_date' => '2024-07-09 09:56:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21489', 'article_category_id' => '1', 'title' => 'NEPSE Index Rises by 15.79 Points to Close at 2152.14', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw an increase of 15.79 points today, marking a 0.73% rise and closing at 2,152.14 points. This gain follows a previous session loss of 4.62 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 9: The Nepal Stock Exchange (NEPSE) Index saw an increase of 15.79 points today, marking a 0.73% rise and closing at 2,152.14 points. This gain follows yesterday's loss of 4.62 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 316 stocks were traded through across 66,716 transactions on the NEPSE. A total of 11,661,208 units of shares were exchanged, resulting into a total turnover of Rs 5.53 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) led the market in turnover, achieving Rs. 197.7 million and closing at Rs. 735 per share. Ganapati Laghubitta Bittiya Sanstha Limited (GMFBS) and Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) both hit the positive circuit, surging by 10% each.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the downside, Siddhartha Investment Growth Scheme - 2 (SIGS2) experienced the highest loss, dropping 5.47%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In sector performance, four sector indices ended the day in negative territory. The "Manufacturing and Processing Index" recorded the highest sectoral loss of 0.54%, while the "Microfinance Index" saw the highest gain, increasing by 3.06%.</span></span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21209', 'image' => '20240709040413_collage (63).jpg', 'article_date' => '2024-07-09 16:03:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '21483', 'article_category_id' => '1', 'title' => 'Govt Gears Up to Extract Iron from Dhaubadi Mine', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is planning to operate an iron mine in the country to reduce the excessive import of iron.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: T</span></span><span style="font-size:13.5pt">he government is planning to operate an iron mine in the country to reduce the excessive import of iron.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Department of Mines and Geology has decided to excavate iron in Nawalparasi (East) after discovering iron ore in between Namjakot and Dhaubadi area of Hupsekot Rural Municipality-5, Nawalparasi (East).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">During the study, a significant amount of iron ore was found in the 10 km area of Dhaubadi. The Council of Ministers decided to establish 'Dhaubadi Iron Company Limited' on August 21, 2019. The company was registered with the company registrar's office on September 26 the same year, under the name "Dhaubadi Iron Company Limited," and has been operating since February 2020.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">India's M & Dastur, SRK, and Nepal's Z Company spent eight months exploring iron ore in the area. The study report indicates that iron production can begin from 2027 onwards.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Chief Executive Officer (CEO) of the company, Dr. Janak Bahadur Chand, stated that a detailed feasibility study for establishing an iron/steel industry based on the Dhaubadi iron ore mine has been completed, and the final report has been received.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The study suggests that iron and steel production is feasible from both technical and financial perspectives. The company is now planned for seismic assessments, environmental impact assessments, and the preparation of a detailed project report.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Dr. Chand said that once the industry starts operation, around 2,000 to 2,500 individuals will be employed directly, with an additional 20,000 to 25,000 employed indirectly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The project is estimated to cost Rs 51.25 billion. It is anticipated that the company will take seven years to achieve profitability and recover its initial investment. Land acquisition processes have already commenced in Kawasoti and Devchuli municipalities in East Nawalparasi for the establishment of the industry.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">It is estimated that there is a deposit of 99 million tonnes of iron ore in the area, of which 96 million tonnes can be extracted. The company’s chairperson and the department’s director-general Ram Prasad Ghimire said that the department has been studying the mine since 2011. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21206', 'image' => '20240709103307_20240708093843_20220328101003_1648364690.धौबादी_फलाम_कम्पनी_लिमिटेड.jpg', 'article_date' => '2024-07-09 10:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
