May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its…
May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its…
With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed s surge of complaints of…
May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale…
May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers.…
May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local…
May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating…
May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial…
May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY…
May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in…
Within year 2079, around nine thousand youths from Udayapur have gone abroad for foreign employment, according to the statistics from the District Police Office and the Safer Migration Program (SaMi) in the…
May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits.…
May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal…
May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on…
May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from…
May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on…
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The lake has been the eye-candy for those trekking up to the Annapurna Base Camp (ABC). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Situated at an altitude of 4,100 meters from the sea level and lying in the lap of Mt Annapurna, the glacial lake spans across 20,000 square meters in area. The turquoise coloured water in the Lake enchants the onlookers.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Pradeep Pun of Annapurna Rural Municipality-7, who reached the ABC for the first time, shared that he was smitten by the beauty of the Lake that is in the foothill of Mt Annapurna (8,091 meters), the tenth highest mountain in the world. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, he felt that time went by so quickly when he was in awe of the multitude of the vastness of the Lake, the bizarre shape of the glaciers, the color of the water akin to the sky's color among others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In winter, five different pools (Pancha Kunda) are visible within the Lake. The Lake therefore acquired the name Pancha Kunda due to this unique property, shared Tej Gurung, a local tourism entrepreneur.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Earlier the Lake was named Dikicho. The locals later coined the word Pancha Kunda for the Lake based on the geographical shape, size and property, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Lake can be reached in a one-day trek to sometimes two days from Narchang. Nature lovers view the Tilicho and Nilgiri mountains from the vicinity of the Pancha Kunda. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">A temple dedicated to Lord Shiva and a stupa are built in the vicinity of the Lake to develop the Lake as a religious destination. </span>– <span style="font-size:14.0pt">RSS</span> (Photo Courtesy: TRN)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17698', 'image' => '20230524055317_pancha kunda.jpg', 'article_date' => '2023-05-24 17:47:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17966', 'article_category_id' => '1', 'title' => '1,700 Complaints Lodged Against Loan Sharks in Mahottari', 'sub_title' => '', 'summary' => 'With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed s surge of complaints of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">May 24: With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed a surge of complaints of late. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to Upendra Neuapne, Assistant Chief District Officer of Mahottari, a total of 1,734 complaints have been officially registered against loan sharks in the district.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The number of complainants has increased after the government provided extra time for the victims to register complaints against loan sharking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had introduced an ordinance and announced to take stringent action against those involved in loan sharking. The loan shark victims had started registering their complaints at the Mahottari DAO since May 1.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17697', 'image' => '20230524043504_collage.jpg', 'article_date' => '2023-05-24 16:34:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17965', 'article_category_id' => '1', 'title' => 'Wholesale Business Shrinks to 40 Percent', 'sub_title' => '', 'summary' => 'May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders. They stated that this kind of situation has existed in the business since the last 8 to 10 months.</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"">Yadunath Dhital, who has been in the business of ready-made garments since 10 years at Mahabouddha, the main wholesale market of Kathmandu, informed New Business Age that the situation has become so dire that it is difficult to pay even rent in the current situation. </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"">“Currently, it is difficult to pay even the rent. Compared to the situation nine months ago, the business has been limited to 30 percent. It is equally difficult to pay to the staff as well. The business overall has shrunk a lot,” said Dhital. </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"">Readymade garments businessman Dhital stated that the businessmen now are in a mood of abandoning their businesses. Another businessman Mahesh Burma, who has been doing wholesale business of readymade garments in Mahabouddha for a long time, shared a similar story. He said, “Goods are traded at various places of the country, but we are not able to collect the payments. Other traders say that they have not been able to sell goods.” </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"">Burma said that many retail businessmen were struggling to repay their loans </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17696', 'image' => '20230524023726_20171222032722_jutta herdai_DSC3404.jpg', 'article_date' => '2023-05-24 14:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17964', 'article_category_id' => '1', 'title' => 'Seven Companies get Broker License', 'sub_title' => '', 'summary' => 'May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. ', '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"">May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. In the first phase, SEBON gave letters of intent to 43 companies for broker license and decided to distribute licenses to seven companies.</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"">Tej Prasad Devkota, information officer of the board, said that the meeting of the board of directors held on May 22 decided to distribute the broker license to seven companies that have received letters of intent. According to information officer Devkota, the board will take a decision soon about issuing license to other companies that have also letters of intent. Devkota clarified that the board decided to distribute the broker license after observing the infrastructure prepared for business operations by the companies that received the letter of intent.</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"">All seven companies have got permission to operate limited broker service on the basis of paid-up capital. Chairman of the board, Ramesh Kumar Hamal, held a program on Tuesday and distributed certificates to those companies.</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"">SEBON has set a paid-up capital of Rs 200 million for the first-level limited brokers, and Rs 600 million for the second-level broker with a full range of work as a DP along with buying and selling of shares, providing investment consulting services and investment management and margin trading services and Rs 1.5 billion for the third level stock dealer. </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 application for the broker license was open from September 18 to October 17 last year.</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"">Altogether 46 companies had submitted applications for the new broker licenses.</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 board said that one of the companies did not met the criteria, one company was disqualified, and one company withdrew its application. The board said that Eagle Stock Equity Private Limited, which requested permission to do limited work, did not apply properly. Similarly, the board said that NIC Asia Securities Company, which applied for limited work, was rejected, and Century Stock Broker Limited withdrew its application.</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"">On this basis, the board issued letter of intent to 43 companies. Among them, one filed application for a stock dealer company, 39 for limited stock broker services, and three for full-fledged stock broker services. The board has said that out of those 43 companies, 12 are subsidiaries of 'A' class banks and 31 belong to other organizations.</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"">It is expected that the efforts of the board to allow companies with strong capital to enter the market will make the securities market more competitive and transparent, the level of securities market services will increase, and investors will benefit from competition in terms of services and prices. The companies that got new broker licenses informed New Business Age that they will start the service within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Krishna Giri, executive chairman of Sun Securities Pvt. Ltd. informed that the service will be started this year after acquiring a membership of Nepal Stock Exchange.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17695', 'image' => '20230524022740_Sebon-update.jpg', 'article_date' => '2023-05-24 14:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17963', 'article_category_id' => '1', 'title' => 'Country Experiences Influence of Westerly Low-Pressure System ', 'sub_title' => '', 'summary' => 'May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather is generally to mostly cloudy throughout the country today. Likewise, light to moderate rainfall with thunder, lightning and gusty wind has been predicted at some places of the hill regions of the country and at a few places in the remaining parts of the country, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rain with thunder and lightning is likely to occur at one or two places of Koshi Province, Bagmati Province and Gandaki Province, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be generally cloudy in the hill areas and partly cloudy to mainly fair in the rest of the country. Light to moderate rainfall with thunder, lightning and gusty wind is likely to occur at some places of Koshi Province and at a few places in the remaining parts of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17694', 'image' => '20230524015907_weatherrrr.jpg', 'article_date' => '2023-05-24 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17962', 'article_category_id' => '1', 'title' => 'Govt’s Policies and Programmes Focused on Increasing Production, Creating Employment: PM Dahal', 'sub_title' => '', 'summary' => 'May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.', '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","sans-serif"">May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.</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:"Arial","sans-serif"">Responding to queries raised by lawmakers in course of discussion on the government's policies and programmes for the upcoming fiscal year (FY 2023-24) presented in a joint meeting of both the houses of the Federal Parliament on May 19, Prime Minister Dahal shared that the main issue of the policies and programmes is how to increase production and create employment as much as possible.</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:"Arial","sans-serif"">The policies and programmes would strengthen federalism, make structural reforms and revive the economy, modernize and commercialize agro sector, promote industrial sector and increase production and employment, he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">PM Dahal viewed that the policies and programmes have been prepared stressing the issues of promoting exports, ensuring access to public services, information technology, education, health, corruption control and social justice and maintaining peace and security. </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:"Arial","sans-serif"">Stressing that the policies and programmes should be implemented in an effective manner through concerted efforts of all, he stated that successful implementation of the policies and programmes is possible.</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:"Arial","sans-serif"">The prime minister further said that national aspirations are clearly reflected in the policies and programmes. He mentioned that the policies and programmes were presented with a determination to achieve the supreme goal of building prosperous, strong and just Nepal, protecting national sovereignty, territorial integrity, independence and national interest.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17693', 'image' => '20230524010635_PRO_KTM-6F8A0739.jpg', 'article_date' => '2023-05-24 13:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17960', 'article_category_id' => '1', 'title' => 'Deliberations on Prevention of Money Laundering Bill Begins ', 'sub_title' => '', 'summary' => 'May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">They expressed such views during the deliberations on the bill to amend some Nepal acts related to the prevention of money laundering and promotion of the business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had introduced the bill in the context of increasing financial crimes with the globalization of banking, technology and trade and shifting nature of cross-boundary crime in any country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a meeting of the Federal Parliament’s Committee on Law, Justice and Human Rights on Monday, the members of the parliament stressed on the need of improving the bill in a way to discourage illicit wealth generation and illegal financial transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, the bill aims to provide adequate legal arrangement to take action against those involving in remittance flow through illicit ways (hundi) and committing financial crime such as revenue evasion, receipt of payment of criminal income in foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, committee member and Nepali Congress Parliamentary Party Chief Whip Ramesh Lekhak said the bill was targeted to check emerging wrong tendencies especially associated with money laundering, real estate, hundi and cooperatives and human trafficking, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former Speaker and committee member Subash Nembang highlighted the urgency of working together to swiftly endorse the bill by giving it a complete shape. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other members of the committee also recommended taking tough stance on preventing money laundering and pay attention towards removing constraints in bringing foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meeting presided over by the committee's senior-most member Mangal Prasad Gupta, some 14 members aired their views focusing on the contents of the bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is expected that the endorsement of the bill and its subsequent enforcement would level up Nepal's legal arrangement on the prevention of money laundering to the international standards and ease effective legal actions against money laundering. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had presented the bill to amend different 19 acts related to the prevention of money laundering and promoting business development in the country. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17691', 'image' => '20230524110236_money laundering.jpg', 'article_date' => '2023-05-24 11:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17959', 'article_category_id' => '1', 'title' => 'Upper House Passes Government’s Policies and Programmes for Upcoming Fiscal Year ', 'sub_title' => '', 'summary' => 'May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The upper house of the Federal Parliament session approved the policies and programmes that were presented before the joint session of the Federal Parliament on May 19 by President Ram Chandra Paudel with majority votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amendment proposals put forth by Tulasa Kumari Dahal, Bimala Ghimire and Dr Bimala Rai Poudyal were rejected by the majority of NA members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to the endorsement, Prime Minister Pushpa Kamal Dahal responded to queries raised by upper house lawmakers during the deliberation over the policies and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA shall meet again at 1 PM pm on May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government will announce the budget for the upcoming fiscal year on May 29 based on the policies and programmes endorsed by both the houses of parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17690', 'image' => '20230524104343_PRO_KTM-066A9590.jpg', 'article_date' => '2023-05-24 10:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17958', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajhang ', 'sub_title' => '', 'summary' => 'May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Seismological Centre, Lainchaur, the 4.5-magntitude earthquake took place at 4.06 on Wednesday morning. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, an earthquake measuring 4.1 in the Richter scale had occurred with its epicentre in Hukam of Rukum-East on May 21 followed by a 4.1 magnitude earthquake with its epicentre at Bichhiya of Bajura district on May 22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late earthquake has become a recurring phenomenon in the eastern and western areas of Nepal. Nepal's hill and mountainous regions are considered highly vulnerable to earthquakes. -- RSS </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17689', 'image' => '20230524102230_earth.jpg', 'article_date' => '2023-05-24 10:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17957', 'article_category_id' => '275', 'title' => 'Around 9,000 Youths from Udayapur Depart for Foreign Employment in 2079', 'sub_title' => '', 'summary' => 'Within year 2079, around nine thousand youths from Udayapur have gone abroad for foreign employment, according to the statistics from the District Police Office and the Safer Migration Program (SaMi) in the district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 24: Within year 2079, around nine thousand youths from Udayapur have gone abroad for foreign employment, according to the statistics from the District Police Office and the Safer Migration Program (SaMi) in the district.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> In the year 2079, the number of youths going abroad for foreign employment has reached almost nine thousand, according to the data. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Most of the youths going for foreign employment have received training related to skills and work capacity enhancement, said SaMi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Among the eight municipalities in the district, Triyuga, Chaudandi Gadhi, and Katari Municipality have the highest number of youths going abroad for foreign employment. Limchungbung, Rautamai, and Udayapur Gadhi Rural Municipality have a significant number of youths going abroad for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to Bijanakumari Basnet, the coordinator of SaMi in Udayapur, the number of youths going to Malaysia from the district is the highest. After Malaysia, she mentioned that youths have been going to Saudi Arabia, UAE, Qatar, and Kuwait. According to the District Police Office, in the year 2079, the number of youths from the district going for foreign employment is 8,268.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"In the previous years, the youths went for foreign employment without proper training and orientation, which resulted in them facing many problems abroad," said Basnet, the coordinator. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Currently, in coordination with the local municipalities, various training programs related to work and providing inspiration, advice, and suggestions are being conducted to reduce the problems faced while going for foreign employment, Basnet informed. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17688', 'image' => '20230524064245_tia.jpg', 'article_date' => '2023-05-24 06:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17956', 'article_category_id' => '1', 'title' => 'Liquidity Eases but Credit Expansion Remains Low', 'sub_title' => '', 'summary' => 'May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. ', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. Although the liquidity crisis has eased, the credit expansion has not been possible due to the pressure on bank capital and the tightening of the market conditions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Bankers Association, the CD ratio of commercial banks has dropped to 84.88 percent as of this Baisakh (mid-April to mid-May). As per the directives of Nepal Rastra Bank (NRB), commercial banks can disburse loans by maintaining a CD ratio of 90 percent. Accordingly, banks can disburse Rs 250 billion in loans at present. However, banks have not been able to extend loans due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">By mid-May of the current fiscal year, commercial banks have collected deposits of Rs 299 billion and disbursed only Rs 123.77 billion in loans. The association informed that the liquidity situation in banks has eased due to lack of credit flow compared to deposit collection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Sunil KC, president of the association and chief executive officer of NMB Bank, says that although the liquidity situation is improving, the credit flow has not increased due to the pressure on bank capital and market conditions. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Liquidity situation in banks is somewhat comfortable," he said in a press conference held by the association on Monday, "However, due to the pressure on capital and market conditions, banks have to invest cautiously."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital adequacy ratio of four out of 21 commercial banks in operation in Nepal has reached the limit set by the central bank. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, said that since it became difficult to expand the business due to the tight capital adequacy ratio, issuance of rights shares or other policy concessions have been requested.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of Nepal Rastra Bank, the primary capital fund (Tier-One Capital) of 11 banks is less than 10 percent as of mid-January this year. The lowest among them is 8.64 percent of Machhapuchche Bank, while that of Kumari Bank and Prabhu Bank is less than 9 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks should keep the primary capital ratio below 8.5 percent. Banks have not been able to expand their business because the primary capital ratio decreases while providing loans. If the capital ratio is less than specified, the central bank will stop distributing dividends to such banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As banks get 9 percent interest rate on government bonds, there is less pressure on them to expand loans. Although the central bank has reduced the bank rate following the review of monetary policy, it has not reduced the interest rate of treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">However, as the interest rate has been decreasing along with the base rate of the banks lately, the association's president KC said that loans will be expanded in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"The base rate and the interest rate, which had reached a high point, have started to decrease," he said, "If the banks’ capital eases in the next two months, the interest on loans will drop to 6-7 percent."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank had set a target of 13 percent credit expansion in the current fiscal year. According to the association, the base rate, which reached 10.19 percent in January, fell to 10.48 percent in April. Similarly, the interest on loans, which reached 13.03 percent in January, also fell to 12.48 percent in April. President KC said that as per the instructions of the NRB, the interest rate difference between loans and deposits (spread rate) should be reduced to 4 percent from June. At present, the spread rate of banks is 4.2 percent.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17687', 'image' => '20230523041010_Banks - Copy.jpg', 'article_date' => '2023-05-23 16:09:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17954', 'article_category_id' => '1', 'title' => 'Over 5,000 Cases of Banking Fraud, Financial Crime Registered in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Police Range, Kathmandu, the highest number of cases have been registered in banking fraud and financial crime in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Range and Superintendent of Police Sitaram Rijal said out of 9,256 cases registered in Kathmandu Valley in the current fiscal year, more than half are of banking fraud and financial crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that most of the cases under banking fraud and financial crimes are related to cheque bounce, dollar exchange, and lottery in recent period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the police range Senior Superintendent of Police Dan Bahadur Karki mentioned that around 35-40 cases related to baking fraud and financial crime are registered in the range every day, adding cases of banking fraud and organised and financial crime have increased in Kathmandu Valley in recent period. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17685', 'image' => '20230523025728_banking-offence -800.jpg', 'article_date' => '2023-05-23 14:56:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17953', 'article_category_id' => '1', 'title' => 'Kamirita Sherpa Reaches Everest Peak for Record 28th Time ', 'sub_title' => '', 'summary' => 'May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday. He reportedly reached the summit of the world's highest peak at 9: 23 am. With this, he broke his own record of the highest number of ascents of Mt Everest. This is his second expedition to the world's highest peak in this spring season. He scaled the peak 27th time just a week ago on May 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 53-year-old climber has a record of 40 summits to the mountains above 8000 meters including Choyu (eight times), Manaslu (three times), Lhotse and Mount K2. He celebrated his first summit to Everest on May 13, 1994. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Pasang Dawa Sherpa has a record of climbing the world's highest peak for the 27th time. The 46-year-old scaled Everest for the second time in this spring on May 22, equaling the record of Kamirita. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, Kamirita broke his own record by reaching the top of world for the 28th time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal's 70-year-old expedition history, the highest number of permits for mountain climbing were issued in this spring. According to the Department of Tourism, 478 climbers of 44 expedition teams acquired permissions for climbing Everest in this season. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17684', 'image' => '20230523022113_20230518105218_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2023-05-23 14:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17952', 'article_category_id' => '1', 'title' => ''Hop On, Hop Off Bus Service' to Operate from Today ', 'sub_title' => '', 'summary' => 'May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTB Chief Executive Officer Dr Dhananjaya Regmi said the 'hop on, hop off' bus is coming into operation from May 23 as a mobile bus service along the routes connecting UNESCO world heritage sites in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The heritage bus service is coming into operation as per the instruction of Tourism Minister Sudan Kiranti,” he said, adding, “Such bus service is in operation in most of the tourism destinations across the world. Though the operation of the bus service has long been in debate in Nepal, the NTB this time is bringing this service despite possible loss.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Two electric Sajha buses would be operated as heritage buses in collaboration with the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'hop on, hop off bus' service that would begin from Lalitpur Metropolitan City would operate mobile transport service in the routes connecting the Kathmandu Durbar Square, Narayanhiti Durbar Museum, Pashuptinath Temple, Bouddhanath and Swoyambhu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'\”Two buses would be operated in each area from half an hour to 45 minutes gap. After operating free service for some days, charge will be arranged later,” said Regmi. -- RSS</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17683', 'image' => '20230523013025_NepalTourismBoard_20220511163003.jpg', 'article_date' => '2023-05-23 13:29:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17950', 'article_category_id' => '1', 'title' => 'Chinese Ambassador Chen Discusses Bilateral Trade with Minister Rijal ', 'sub_title' => '', 'summary' => 'May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday. During the meeting held at the ministry, they discussed bilateral relations, development assistance, and opening of border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal praised Chinese Ambassador Song, saying he had active role on strengthening bilateral relations between Nepal and China. He believed that the bilateral relations would be further strengthened in the days ahead. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bilateral relation between the two countries is special, Minister Rijal said, reiterating that Nepal was committed to not let anyone misuse Nepali territory against China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that of the total foreign trade, trade with China comprises 14 percent. China is Nepal's second largest trade partner, according to Minister Rijal. However, Nepal has been incurring huge loss on trade with China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal also reminded various mechanisms to facilitate Nepal-China trade. Even the meeting of joint consultation mechanism established for implementing transit and transport agreement was not held, he said, urging Ambassador Chen for immediate meeting between the concerned mechanisms in Kathmandu and Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister expressed happiness over the re-operation of Tatopani, Rasuwa and Hilsa border points. He requested the Chinese Ambassador to open further border points soon. He drew the attention of the Chinese Ambassador Chen on opening Nechung-Liji, Kimathanka, Olangchunggola and other border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rijal thanked China for its assistance and collaboration in Nepal's development. He hoped China would extend further assistance and provide foreign direct investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Chen thanked Nepal for supporting One-China policy. He believed bilateral relations would be further strengthened between China and Nepal. The ambassador also said China was positive to extend development assistance and foreign direct investment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17681', 'image' => '20230523120257_Flag-Pins-Nepal-China.jpg', 'article_date' => '2023-05-23 12:02:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The lake has been the eye-candy for those trekking up to the Annapurna Base Camp (ABC). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Situated at an altitude of 4,100 meters from the sea level and lying in the lap of Mt Annapurna, the glacial lake spans across 20,000 square meters in area. The turquoise coloured water in the Lake enchants the onlookers.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Pradeep Pun of Annapurna Rural Municipality-7, who reached the ABC for the first time, shared that he was smitten by the beauty of the Lake that is in the foothill of Mt Annapurna (8,091 meters), the tenth highest mountain in the world. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, he felt that time went by so quickly when he was in awe of the multitude of the vastness of the Lake, the bizarre shape of the glaciers, the color of the water akin to the sky's color among others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In winter, five different pools (Pancha Kunda) are visible within the Lake. The Lake therefore acquired the name Pancha Kunda due to this unique property, shared Tej Gurung, a local tourism entrepreneur.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Earlier the Lake was named Dikicho. The locals later coined the word Pancha Kunda for the Lake based on the geographical shape, size and property, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Lake can be reached in a one-day trek to sometimes two days from Narchang. Nature lovers view the Tilicho and Nilgiri mountains from the vicinity of the Pancha Kunda. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">A temple dedicated to Lord Shiva and a stupa are built in the vicinity of the Lake to develop the Lake as a religious destination. </span>– <span style="font-size:14.0pt">RSS</span> (Photo Courtesy: TRN)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17698', 'image' => '20230524055317_pancha kunda.jpg', 'article_date' => '2023-05-24 17:47:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17966', 'article_category_id' => '1', 'title' => '1,700 Complaints Lodged Against Loan Sharks in Mahottari', 'sub_title' => '', 'summary' => 'With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed s surge of complaints of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">May 24: With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed a surge of complaints of late. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to Upendra Neuapne, Assistant Chief District Officer of Mahottari, a total of 1,734 complaints have been officially registered against loan sharks in the district.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The number of complainants has increased after the government provided extra time for the victims to register complaints against loan sharking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had introduced an ordinance and announced to take stringent action against those involved in loan sharking. The loan shark victims had started registering their complaints at the Mahottari DAO since May 1.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17697', 'image' => '20230524043504_collage.jpg', 'article_date' => '2023-05-24 16:34:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17965', 'article_category_id' => '1', 'title' => 'Wholesale Business Shrinks to 40 Percent', 'sub_title' => '', 'summary' => 'May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders. They stated that this kind of situation has existed in the business since the last 8 to 10 months.</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"">Yadunath Dhital, who has been in the business of ready-made garments since 10 years at Mahabouddha, the main wholesale market of Kathmandu, informed New Business Age that the situation has become so dire that it is difficult to pay even rent in the current situation. </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"">“Currently, it is difficult to pay even the rent. Compared to the situation nine months ago, the business has been limited to 30 percent. It is equally difficult to pay to the staff as well. The business overall has shrunk a lot,” said Dhital. </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"">Readymade garments businessman Dhital stated that the businessmen now are in a mood of abandoning their businesses. Another businessman Mahesh Burma, who has been doing wholesale business of readymade garments in Mahabouddha for a long time, shared a similar story. He said, “Goods are traded at various places of the country, but we are not able to collect the payments. Other traders say that they have not been able to sell goods.” </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"">Burma said that many retail businessmen were struggling to repay their loans </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17696', 'image' => '20230524023726_20171222032722_jutta herdai_DSC3404.jpg', 'article_date' => '2023-05-24 14:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17964', 'article_category_id' => '1', 'title' => 'Seven Companies get Broker License', 'sub_title' => '', 'summary' => 'May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. ', '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"">May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. In the first phase, SEBON gave letters of intent to 43 companies for broker license and decided to distribute licenses to seven companies.</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"">Tej Prasad Devkota, information officer of the board, said that the meeting of the board of directors held on May 22 decided to distribute the broker license to seven companies that have received letters of intent. According to information officer Devkota, the board will take a decision soon about issuing license to other companies that have also letters of intent. Devkota clarified that the board decided to distribute the broker license after observing the infrastructure prepared for business operations by the companies that received the letter of intent.</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"">All seven companies have got permission to operate limited broker service on the basis of paid-up capital. Chairman of the board, Ramesh Kumar Hamal, held a program on Tuesday and distributed certificates to those companies.</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"">SEBON has set a paid-up capital of Rs 200 million for the first-level limited brokers, and Rs 600 million for the second-level broker with a full range of work as a DP along with buying and selling of shares, providing investment consulting services and investment management and margin trading services and Rs 1.5 billion for the third level stock dealer. </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 application for the broker license was open from September 18 to October 17 last year.</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"">Altogether 46 companies had submitted applications for the new broker licenses.</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 board said that one of the companies did not met the criteria, one company was disqualified, and one company withdrew its application. The board said that Eagle Stock Equity Private Limited, which requested permission to do limited work, did not apply properly. Similarly, the board said that NIC Asia Securities Company, which applied for limited work, was rejected, and Century Stock Broker Limited withdrew its application.</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"">On this basis, the board issued letter of intent to 43 companies. Among them, one filed application for a stock dealer company, 39 for limited stock broker services, and three for full-fledged stock broker services. The board has said that out of those 43 companies, 12 are subsidiaries of 'A' class banks and 31 belong to other organizations.</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"">It is expected that the efforts of the board to allow companies with strong capital to enter the market will make the securities market more competitive and transparent, the level of securities market services will increase, and investors will benefit from competition in terms of services and prices. The companies that got new broker licenses informed New Business Age that they will start the service within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Krishna Giri, executive chairman of Sun Securities Pvt. Ltd. informed that the service will be started this year after acquiring a membership of Nepal Stock Exchange.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17695', 'image' => '20230524022740_Sebon-update.jpg', 'article_date' => '2023-05-24 14:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17963', 'article_category_id' => '1', 'title' => 'Country Experiences Influence of Westerly Low-Pressure System ', 'sub_title' => '', 'summary' => 'May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather is generally to mostly cloudy throughout the country today. Likewise, light to moderate rainfall with thunder, lightning and gusty wind has been predicted at some places of the hill regions of the country and at a few places in the remaining parts of the country, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rain with thunder and lightning is likely to occur at one or two places of Koshi Province, Bagmati Province and Gandaki Province, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be generally cloudy in the hill areas and partly cloudy to mainly fair in the rest of the country. Light to moderate rainfall with thunder, lightning and gusty wind is likely to occur at some places of Koshi Province and at a few places in the remaining parts of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17694', 'image' => '20230524015907_weatherrrr.jpg', 'article_date' => '2023-05-24 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17962', 'article_category_id' => '1', 'title' => 'Govt’s Policies and Programmes Focused on Increasing Production, Creating Employment: PM Dahal', 'sub_title' => '', 'summary' => 'May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.', '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","sans-serif"">May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.</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:"Arial","sans-serif"">Responding to queries raised by lawmakers in course of discussion on the government's policies and programmes for the upcoming fiscal year (FY 2023-24) presented in a joint meeting of both the houses of the Federal Parliament on May 19, Prime Minister Dahal shared that the main issue of the policies and programmes is how to increase production and create employment as much as possible.</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:"Arial","sans-serif"">The policies and programmes would strengthen federalism, make structural reforms and revive the economy, modernize and commercialize agro sector, promote industrial sector and increase production and employment, he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">PM Dahal viewed that the policies and programmes have been prepared stressing the issues of promoting exports, ensuring access to public services, information technology, education, health, corruption control and social justice and maintaining peace and security. </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:"Arial","sans-serif"">Stressing that the policies and programmes should be implemented in an effective manner through concerted efforts of all, he stated that successful implementation of the policies and programmes is possible.</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:"Arial","sans-serif"">The prime minister further said that national aspirations are clearly reflected in the policies and programmes. He mentioned that the policies and programmes were presented with a determination to achieve the supreme goal of building prosperous, strong and just Nepal, protecting national sovereignty, territorial integrity, independence and national interest.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17693', 'image' => '20230524010635_PRO_KTM-6F8A0739.jpg', 'article_date' => '2023-05-24 13:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17960', 'article_category_id' => '1', 'title' => 'Deliberations on Prevention of Money Laundering Bill Begins ', 'sub_title' => '', 'summary' => 'May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">They expressed such views during the deliberations on the bill to amend some Nepal acts related to the prevention of money laundering and promotion of the business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had introduced the bill in the context of increasing financial crimes with the globalization of banking, technology and trade and shifting nature of cross-boundary crime in any country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a meeting of the Federal Parliament’s Committee on Law, Justice and Human Rights on Monday, the members of the parliament stressed on the need of improving the bill in a way to discourage illicit wealth generation and illegal financial transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, the bill aims to provide adequate legal arrangement to take action against those involving in remittance flow through illicit ways (hundi) and committing financial crime such as revenue evasion, receipt of payment of criminal income in foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, committee member and Nepali Congress Parliamentary Party Chief Whip Ramesh Lekhak said the bill was targeted to check emerging wrong tendencies especially associated with money laundering, real estate, hundi and cooperatives and human trafficking, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former Speaker and committee member Subash Nembang highlighted the urgency of working together to swiftly endorse the bill by giving it a complete shape. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other members of the committee also recommended taking tough stance on preventing money laundering and pay attention towards removing constraints in bringing foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meeting presided over by the committee's senior-most member Mangal Prasad Gupta, some 14 members aired their views focusing on the contents of the bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is expected that the endorsement of the bill and its subsequent enforcement would level up Nepal's legal arrangement on the prevention of money laundering to the international standards and ease effective legal actions against money laundering. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had presented the bill to amend different 19 acts related to the prevention of money laundering and promoting business development in the country. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17691', 'image' => '20230524110236_money laundering.jpg', 'article_date' => '2023-05-24 11:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17959', 'article_category_id' => '1', 'title' => 'Upper House Passes Government’s Policies and Programmes for Upcoming Fiscal Year ', 'sub_title' => '', 'summary' => 'May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The upper house of the Federal Parliament session approved the policies and programmes that were presented before the joint session of the Federal Parliament on May 19 by President Ram Chandra Paudel with majority votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amendment proposals put forth by Tulasa Kumari Dahal, Bimala Ghimire and Dr Bimala Rai Poudyal were rejected by the majority of NA members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to the endorsement, Prime Minister Pushpa Kamal Dahal responded to queries raised by upper house lawmakers during the deliberation over the policies and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA shall meet again at 1 PM pm on May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government will announce the budget for the upcoming fiscal year on May 29 based on the policies and programmes endorsed by both the houses of parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17690', 'image' => '20230524104343_PRO_KTM-066A9590.jpg', 'article_date' => '2023-05-24 10:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17958', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajhang ', 'sub_title' => '', 'summary' => 'May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Seismological Centre, Lainchaur, the 4.5-magntitude earthquake took place at 4.06 on Wednesday morning. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, an earthquake measuring 4.1 in the Richter scale had occurred with its epicentre in Hukam of Rukum-East on May 21 followed by a 4.1 magnitude earthquake with its epicentre at Bichhiya of Bajura district on May 22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late earthquake has become a recurring phenomenon in the eastern and western areas of Nepal. Nepal's hill and mountainous regions are considered highly vulnerable to earthquakes. -- RSS </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17689', 'image' => '20230524102230_earth.jpg', 'article_date' => '2023-05-24 10:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17957', 'article_category_id' => '275', 'title' => 'Around 9,000 Youths from Udayapur Depart for Foreign Employment in 2079', 'sub_title' => '', 'summary' => 'Within year 2079, around nine thousand youths from Udayapur have gone abroad for foreign employment, according to the statistics from the District Police Office and the Safer Migration Program (SaMi) in the district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 24: Within year 2079, around nine thousand youths from Udayapur have gone abroad for foreign employment, according to the statistics from the District Police Office and the Safer Migration Program (SaMi) in the district.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> In the year 2079, the number of youths going abroad for foreign employment has reached almost nine thousand, according to the data. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Most of the youths going for foreign employment have received training related to skills and work capacity enhancement, said SaMi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Among the eight municipalities in the district, Triyuga, Chaudandi Gadhi, and Katari Municipality have the highest number of youths going abroad for foreign employment. Limchungbung, Rautamai, and Udayapur Gadhi Rural Municipality have a significant number of youths going abroad for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to Bijanakumari Basnet, the coordinator of SaMi in Udayapur, the number of youths going to Malaysia from the district is the highest. After Malaysia, she mentioned that youths have been going to Saudi Arabia, UAE, Qatar, and Kuwait. According to the District Police Office, in the year 2079, the number of youths from the district going for foreign employment is 8,268.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"In the previous years, the youths went for foreign employment without proper training and orientation, which resulted in them facing many problems abroad," said Basnet, the coordinator. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Currently, in coordination with the local municipalities, various training programs related to work and providing inspiration, advice, and suggestions are being conducted to reduce the problems faced while going for foreign employment, Basnet informed. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17688', 'image' => '20230524064245_tia.jpg', 'article_date' => '2023-05-24 06:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17956', 'article_category_id' => '1', 'title' => 'Liquidity Eases but Credit Expansion Remains Low', 'sub_title' => '', 'summary' => 'May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. ', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. Although the liquidity crisis has eased, the credit expansion has not been possible due to the pressure on bank capital and the tightening of the market conditions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Bankers Association, the CD ratio of commercial banks has dropped to 84.88 percent as of this Baisakh (mid-April to mid-May). As per the directives of Nepal Rastra Bank (NRB), commercial banks can disburse loans by maintaining a CD ratio of 90 percent. Accordingly, banks can disburse Rs 250 billion in loans at present. However, banks have not been able to extend loans due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">By mid-May of the current fiscal year, commercial banks have collected deposits of Rs 299 billion and disbursed only Rs 123.77 billion in loans. The association informed that the liquidity situation in banks has eased due to lack of credit flow compared to deposit collection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Sunil KC, president of the association and chief executive officer of NMB Bank, says that although the liquidity situation is improving, the credit flow has not increased due to the pressure on bank capital and market conditions. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Liquidity situation in banks is somewhat comfortable," he said in a press conference held by the association on Monday, "However, due to the pressure on capital and market conditions, banks have to invest cautiously."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital adequacy ratio of four out of 21 commercial banks in operation in Nepal has reached the limit set by the central bank. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, said that since it became difficult to expand the business due to the tight capital adequacy ratio, issuance of rights shares or other policy concessions have been requested.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of Nepal Rastra Bank, the primary capital fund (Tier-One Capital) of 11 banks is less than 10 percent as of mid-January this year. The lowest among them is 8.64 percent of Machhapuchche Bank, while that of Kumari Bank and Prabhu Bank is less than 9 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks should keep the primary capital ratio below 8.5 percent. Banks have not been able to expand their business because the primary capital ratio decreases while providing loans. If the capital ratio is less than specified, the central bank will stop distributing dividends to such banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As banks get 9 percent interest rate on government bonds, there is less pressure on them to expand loans. Although the central bank has reduced the bank rate following the review of monetary policy, it has not reduced the interest rate of treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">However, as the interest rate has been decreasing along with the base rate of the banks lately, the association's president KC said that loans will be expanded in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"The base rate and the interest rate, which had reached a high point, have started to decrease," he said, "If the banks’ capital eases in the next two months, the interest on loans will drop to 6-7 percent."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank had set a target of 13 percent credit expansion in the current fiscal year. According to the association, the base rate, which reached 10.19 percent in January, fell to 10.48 percent in April. Similarly, the interest on loans, which reached 13.03 percent in January, also fell to 12.48 percent in April. President KC said that as per the instructions of the NRB, the interest rate difference between loans and deposits (spread rate) should be reduced to 4 percent from June. At present, the spread rate of banks is 4.2 percent.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17687', 'image' => '20230523041010_Banks - Copy.jpg', 'article_date' => '2023-05-23 16:09:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17954', 'article_category_id' => '1', 'title' => 'Over 5,000 Cases of Banking Fraud, Financial Crime Registered in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Police Range, Kathmandu, the highest number of cases have been registered in banking fraud and financial crime in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Range and Superintendent of Police Sitaram Rijal said out of 9,256 cases registered in Kathmandu Valley in the current fiscal year, more than half are of banking fraud and financial crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that most of the cases under banking fraud and financial crimes are related to cheque bounce, dollar exchange, and lottery in recent period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the police range Senior Superintendent of Police Dan Bahadur Karki mentioned that around 35-40 cases related to baking fraud and financial crime are registered in the range every day, adding cases of banking fraud and organised and financial crime have increased in Kathmandu Valley in recent period. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17685', 'image' => '20230523025728_banking-offence -800.jpg', 'article_date' => '2023-05-23 14:56:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17953', 'article_category_id' => '1', 'title' => 'Kamirita Sherpa Reaches Everest Peak for Record 28th Time ', 'sub_title' => '', 'summary' => 'May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday. He reportedly reached the summit of the world's highest peak at 9: 23 am. With this, he broke his own record of the highest number of ascents of Mt Everest. This is his second expedition to the world's highest peak in this spring season. He scaled the peak 27th time just a week ago on May 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 53-year-old climber has a record of 40 summits to the mountains above 8000 meters including Choyu (eight times), Manaslu (three times), Lhotse and Mount K2. He celebrated his first summit to Everest on May 13, 1994. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Pasang Dawa Sherpa has a record of climbing the world's highest peak for the 27th time. The 46-year-old scaled Everest for the second time in this spring on May 22, equaling the record of Kamirita. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, Kamirita broke his own record by reaching the top of world for the 28th time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal's 70-year-old expedition history, the highest number of permits for mountain climbing were issued in this spring. According to the Department of Tourism, 478 climbers of 44 expedition teams acquired permissions for climbing Everest in this season. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17684', 'image' => '20230523022113_20230518105218_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2023-05-23 14:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17952', 'article_category_id' => '1', 'title' => ''Hop On, Hop Off Bus Service' to Operate from Today ', 'sub_title' => '', 'summary' => 'May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTB Chief Executive Officer Dr Dhananjaya Regmi said the 'hop on, hop off' bus is coming into operation from May 23 as a mobile bus service along the routes connecting UNESCO world heritage sites in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The heritage bus service is coming into operation as per the instruction of Tourism Minister Sudan Kiranti,” he said, adding, “Such bus service is in operation in most of the tourism destinations across the world. Though the operation of the bus service has long been in debate in Nepal, the NTB this time is bringing this service despite possible loss.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Two electric Sajha buses would be operated as heritage buses in collaboration with the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'hop on, hop off bus' service that would begin from Lalitpur Metropolitan City would operate mobile transport service in the routes connecting the Kathmandu Durbar Square, Narayanhiti Durbar Museum, Pashuptinath Temple, Bouddhanath and Swoyambhu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'\”Two buses would be operated in each area from half an hour to 45 minutes gap. After operating free service for some days, charge will be arranged later,” said Regmi. -- RSS</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17683', 'image' => '20230523013025_NepalTourismBoard_20220511163003.jpg', 'article_date' => '2023-05-23 13:29:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17950', 'article_category_id' => '1', 'title' => 'Chinese Ambassador Chen Discusses Bilateral Trade with Minister Rijal ', 'sub_title' => '', 'summary' => 'May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday. During the meeting held at the ministry, they discussed bilateral relations, development assistance, and opening of border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal praised Chinese Ambassador Song, saying he had active role on strengthening bilateral relations between Nepal and China. He believed that the bilateral relations would be further strengthened in the days ahead. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bilateral relation between the two countries is special, Minister Rijal said, reiterating that Nepal was committed to not let anyone misuse Nepali territory against China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that of the total foreign trade, trade with China comprises 14 percent. China is Nepal's second largest trade partner, according to Minister Rijal. However, Nepal has been incurring huge loss on trade with China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal also reminded various mechanisms to facilitate Nepal-China trade. Even the meeting of joint consultation mechanism established for implementing transit and transport agreement was not held, he said, urging Ambassador Chen for immediate meeting between the concerned mechanisms in Kathmandu and Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister expressed happiness over the re-operation of Tatopani, Rasuwa and Hilsa border points. He requested the Chinese Ambassador to open further border points soon. He drew the attention of the Chinese Ambassador Chen on opening Nechung-Liji, Kimathanka, Olangchunggola and other border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rijal thanked China for its assistance and collaboration in Nepal's development. He hoped China would extend further assistance and provide foreign direct investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Chen thanked Nepal for supporting One-China policy. He believed bilateral relations would be further strengthened between China and Nepal. The ambassador also said China was positive to extend development assistance and foreign direct investment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17681', 'image' => '20230523120257_Flag-Pins-Nepal-China.jpg', 'article_date' => '2023-05-23 12:02:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The lake has been the eye-candy for those trekking up to the Annapurna Base Camp (ABC). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Situated at an altitude of 4,100 meters from the sea level and lying in the lap of Mt Annapurna, the glacial lake spans across 20,000 square meters in area. The turquoise coloured water in the Lake enchants the onlookers.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Pradeep Pun of Annapurna Rural Municipality-7, who reached the ABC for the first time, shared that he was smitten by the beauty of the Lake that is in the foothill of Mt Annapurna (8,091 meters), the tenth highest mountain in the world. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, he felt that time went by so quickly when he was in awe of the multitude of the vastness of the Lake, the bizarre shape of the glaciers, the color of the water akin to the sky's color among others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In winter, five different pools (Pancha Kunda) are visible within the Lake. The Lake therefore acquired the name Pancha Kunda due to this unique property, shared Tej Gurung, a local tourism entrepreneur.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Earlier the Lake was named Dikicho. The locals later coined the word Pancha Kunda for the Lake based on the geographical shape, size and property, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Lake can be reached in a one-day trek to sometimes two days from Narchang. Nature lovers view the Tilicho and Nilgiri mountains from the vicinity of the Pancha Kunda. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">A temple dedicated to Lord Shiva and a stupa are built in the vicinity of the Lake to develop the Lake as a religious destination. </span>– <span style="font-size:14.0pt">RSS</span> (Photo Courtesy: TRN)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17698', 'image' => '20230524055317_pancha kunda.jpg', 'article_date' => '2023-05-24 17:47:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17966', 'article_category_id' => '1', 'title' => '1,700 Complaints Lodged Against Loan Sharks in Mahottari', 'sub_title' => '', 'summary' => 'With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed s surge of complaints of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">May 24: With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed a surge of complaints of late. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to Upendra Neuapne, Assistant Chief District Officer of Mahottari, a total of 1,734 complaints have been officially registered against loan sharks in the district.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The number of complainants has increased after the government provided extra time for the victims to register complaints against loan sharking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had introduced an ordinance and announced to take stringent action against those involved in loan sharking. The loan shark victims had started registering their complaints at the Mahottari DAO since May 1.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17697', 'image' => '20230524043504_collage.jpg', 'article_date' => '2023-05-24 16:34:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17965', 'article_category_id' => '1', 'title' => 'Wholesale Business Shrinks to 40 Percent', 'sub_title' => '', 'summary' => 'May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders. They stated that this kind of situation has existed in the business since the last 8 to 10 months.</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"">Yadunath Dhital, who has been in the business of ready-made garments since 10 years at Mahabouddha, the main wholesale market of Kathmandu, informed New Business Age that the situation has become so dire that it is difficult to pay even rent in the current situation. </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"">“Currently, it is difficult to pay even the rent. Compared to the situation nine months ago, the business has been limited to 30 percent. It is equally difficult to pay to the staff as well. The business overall has shrunk a lot,” said Dhital. </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"">Readymade garments businessman Dhital stated that the businessmen now are in a mood of abandoning their businesses. Another businessman Mahesh Burma, who has been doing wholesale business of readymade garments in Mahabouddha for a long time, shared a similar story. He said, “Goods are traded at various places of the country, but we are not able to collect the payments. Other traders say that they have not been able to sell goods.” </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"">Burma said that many retail businessmen were struggling to repay their loans </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17696', 'image' => '20230524023726_20171222032722_jutta herdai_DSC3404.jpg', 'article_date' => '2023-05-24 14:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17964', 'article_category_id' => '1', 'title' => 'Seven Companies get Broker License', 'sub_title' => '', 'summary' => 'May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. ', '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"">May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. In the first phase, SEBON gave letters of intent to 43 companies for broker license and decided to distribute licenses to seven companies.</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"">Tej Prasad Devkota, information officer of the board, said that the meeting of the board of directors held on May 22 decided to distribute the broker license to seven companies that have received letters of intent. According to information officer Devkota, the board will take a decision soon about issuing license to other companies that have also letters of intent. Devkota clarified that the board decided to distribute the broker license after observing the infrastructure prepared for business operations by the companies that received the letter of intent.</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"">All seven companies have got permission to operate limited broker service on the basis of paid-up capital. Chairman of the board, Ramesh Kumar Hamal, held a program on Tuesday and distributed certificates to those companies.</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"">SEBON has set a paid-up capital of Rs 200 million for the first-level limited brokers, and Rs 600 million for the second-level broker with a full range of work as a DP along with buying and selling of shares, providing investment consulting services and investment management and margin trading services and Rs 1.5 billion for the third level stock dealer. </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 application for the broker license was open from September 18 to October 17 last year.</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"">Altogether 46 companies had submitted applications for the new broker licenses.</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 board said that one of the companies did not met the criteria, one company was disqualified, and one company withdrew its application. The board said that Eagle Stock Equity Private Limited, which requested permission to do limited work, did not apply properly. Similarly, the board said that NIC Asia Securities Company, which applied for limited work, was rejected, and Century Stock Broker Limited withdrew its application.</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"">On this basis, the board issued letter of intent to 43 companies. Among them, one filed application for a stock dealer company, 39 for limited stock broker services, and three for full-fledged stock broker services. The board has said that out of those 43 companies, 12 are subsidiaries of 'A' class banks and 31 belong to other organizations.</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"">It is expected that the efforts of the board to allow companies with strong capital to enter the market will make the securities market more competitive and transparent, the level of securities market services will increase, and investors will benefit from competition in terms of services and prices. The companies that got new broker licenses informed New Business Age that they will start the service within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Krishna Giri, executive chairman of Sun Securities Pvt. Ltd. informed that the service will be started this year after acquiring a membership of Nepal Stock Exchange.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17695', 'image' => '20230524022740_Sebon-update.jpg', 'article_date' => '2023-05-24 14:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17963', 'article_category_id' => '1', 'title' => 'Country Experiences Influence of Westerly Low-Pressure System ', 'sub_title' => '', 'summary' => 'May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather is generally to mostly cloudy throughout the country today. Likewise, light to moderate rainfall with thunder, lightning and gusty wind has been predicted at some places of the hill regions of the country and at a few places in the remaining parts of the country, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rain with thunder and lightning is likely to occur at one or two places of Koshi Province, Bagmati Province and Gandaki Province, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be generally cloudy in the hill areas and partly cloudy to mainly fair in the rest of the country. Light to moderate rainfall with thunder, lightning and gusty wind is likely to occur at some places of Koshi Province and at a few places in the remaining parts of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17694', 'image' => '20230524015907_weatherrrr.jpg', 'article_date' => '2023-05-24 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17962', 'article_category_id' => '1', 'title' => 'Govt’s Policies and Programmes Focused on Increasing Production, Creating Employment: PM Dahal', 'sub_title' => '', 'summary' => 'May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.', '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","sans-serif"">May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.</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:"Arial","sans-serif"">Responding to queries raised by lawmakers in course of discussion on the government's policies and programmes for the upcoming fiscal year (FY 2023-24) presented in a joint meeting of both the houses of the Federal Parliament on May 19, Prime Minister Dahal shared that the main issue of the policies and programmes is how to increase production and create employment as much as possible.</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:"Arial","sans-serif"">The policies and programmes would strengthen federalism, make structural reforms and revive the economy, modernize and commercialize agro sector, promote industrial sector and increase production and employment, he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">PM Dahal viewed that the policies and programmes have been prepared stressing the issues of promoting exports, ensuring access to public services, information technology, education, health, corruption control and social justice and maintaining peace and security. </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:"Arial","sans-serif"">Stressing that the policies and programmes should be implemented in an effective manner through concerted efforts of all, he stated that successful implementation of the policies and programmes is possible.</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:"Arial","sans-serif"">The prime minister further said that national aspirations are clearly reflected in the policies and programmes. He mentioned that the policies and programmes were presented with a determination to achieve the supreme goal of building prosperous, strong and just Nepal, protecting national sovereignty, territorial integrity, independence and national interest.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17693', 'image' => '20230524010635_PRO_KTM-6F8A0739.jpg', 'article_date' => '2023-05-24 13:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17960', 'article_category_id' => '1', 'title' => 'Deliberations on Prevention of Money Laundering Bill Begins ', 'sub_title' => '', 'summary' => 'May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">They expressed such views during the deliberations on the bill to amend some Nepal acts related to the prevention of money laundering and promotion of the business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had introduced the bill in the context of increasing financial crimes with the globalization of banking, technology and trade and shifting nature of cross-boundary crime in any country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a meeting of the Federal Parliament’s Committee on Law, Justice and Human Rights on Monday, the members of the parliament stressed on the need of improving the bill in a way to discourage illicit wealth generation and illegal financial transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, the bill aims to provide adequate legal arrangement to take action against those involving in remittance flow through illicit ways (hundi) and committing financial crime such as revenue evasion, receipt of payment of criminal income in foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, committee member and Nepali Congress Parliamentary Party Chief Whip Ramesh Lekhak said the bill was targeted to check emerging wrong tendencies especially associated with money laundering, real estate, hundi and cooperatives and human trafficking, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former Speaker and committee member Subash Nembang highlighted the urgency of working together to swiftly endorse the bill by giving it a complete shape. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other members of the committee also recommended taking tough stance on preventing money laundering and pay attention towards removing constraints in bringing foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meeting presided over by the committee's senior-most member Mangal Prasad Gupta, some 14 members aired their views focusing on the contents of the bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is expected that the endorsement of the bill and its subsequent enforcement would level up Nepal's legal arrangement on the prevention of money laundering to the international standards and ease effective legal actions against money laundering. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had presented the bill to amend different 19 acts related to the prevention of money laundering and promoting business development in the country. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17691', 'image' => '20230524110236_money laundering.jpg', 'article_date' => '2023-05-24 11:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17959', 'article_category_id' => '1', 'title' => 'Upper House Passes Government’s Policies and Programmes for Upcoming Fiscal Year ', 'sub_title' => '', 'summary' => 'May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The upper house of the Federal Parliament session approved the policies and programmes that were presented before the joint session of the Federal Parliament on May 19 by President Ram Chandra Paudel with majority votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amendment proposals put forth by Tulasa Kumari Dahal, Bimala Ghimire and Dr Bimala Rai Poudyal were rejected by the majority of NA members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to the endorsement, Prime Minister Pushpa Kamal Dahal responded to queries raised by upper house lawmakers during the deliberation over the policies and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA shall meet again at 1 PM pm on May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government will announce the budget for the upcoming fiscal year on May 29 based on the policies and programmes endorsed by both the houses of parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17690', 'image' => '20230524104343_PRO_KTM-066A9590.jpg', 'article_date' => '2023-05-24 10:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17958', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajhang ', 'sub_title' => '', 'summary' => 'May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Seismological Centre, Lainchaur, the 4.5-magntitude earthquake took place at 4.06 on Wednesday morning. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, an earthquake measuring 4.1 in the Richter scale had occurred with its epicentre in Hukam of Rukum-East on May 21 followed by a 4.1 magnitude earthquake with its epicentre at Bichhiya of Bajura district on May 22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late earthquake has become a recurring phenomenon in the eastern and western areas of Nepal. Nepal's hill and mountainous regions are considered highly vulnerable to earthquakes. -- RSS </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17689', 'image' => '20230524102230_earth.jpg', 'article_date' => '2023-05-24 10:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17957', 'article_category_id' => '275', 'title' => 'Around 9,000 Youths from Udayapur Depart for Foreign Employment in 2079', 'sub_title' => '', 'summary' => 'Within year 2079, around nine thousand youths from Udayapur have gone abroad for foreign employment, according to the statistics from the District Police Office and the Safer Migration Program (SaMi) in the district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 24: Within year 2079, around nine thousand youths from Udayapur have gone abroad for foreign employment, according to the statistics from the District Police Office and the Safer Migration Program (SaMi) in the district.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> In the year 2079, the number of youths going abroad for foreign employment has reached almost nine thousand, according to the data. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Most of the youths going for foreign employment have received training related to skills and work capacity enhancement, said SaMi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Among the eight municipalities in the district, Triyuga, Chaudandi Gadhi, and Katari Municipality have the highest number of youths going abroad for foreign employment. Limchungbung, Rautamai, and Udayapur Gadhi Rural Municipality have a significant number of youths going abroad for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to Bijanakumari Basnet, the coordinator of SaMi in Udayapur, the number of youths going to Malaysia from the district is the highest. After Malaysia, she mentioned that youths have been going to Saudi Arabia, UAE, Qatar, and Kuwait. According to the District Police Office, in the year 2079, the number of youths from the district going for foreign employment is 8,268.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"In the previous years, the youths went for foreign employment without proper training and orientation, which resulted in them facing many problems abroad," said Basnet, the coordinator. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Currently, in coordination with the local municipalities, various training programs related to work and providing inspiration, advice, and suggestions are being conducted to reduce the problems faced while going for foreign employment, Basnet informed. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17688', 'image' => '20230524064245_tia.jpg', 'article_date' => '2023-05-24 06:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17956', 'article_category_id' => '1', 'title' => 'Liquidity Eases but Credit Expansion Remains Low', 'sub_title' => '', 'summary' => 'May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. ', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. Although the liquidity crisis has eased, the credit expansion has not been possible due to the pressure on bank capital and the tightening of the market conditions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Bankers Association, the CD ratio of commercial banks has dropped to 84.88 percent as of this Baisakh (mid-April to mid-May). As per the directives of Nepal Rastra Bank (NRB), commercial banks can disburse loans by maintaining a CD ratio of 90 percent. Accordingly, banks can disburse Rs 250 billion in loans at present. However, banks have not been able to extend loans due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">By mid-May of the current fiscal year, commercial banks have collected deposits of Rs 299 billion and disbursed only Rs 123.77 billion in loans. The association informed that the liquidity situation in banks has eased due to lack of credit flow compared to deposit collection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Sunil KC, president of the association and chief executive officer of NMB Bank, says that although the liquidity situation is improving, the credit flow has not increased due to the pressure on bank capital and market conditions. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Liquidity situation in banks is somewhat comfortable," he said in a press conference held by the association on Monday, "However, due to the pressure on capital and market conditions, banks have to invest cautiously."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital adequacy ratio of four out of 21 commercial banks in operation in Nepal has reached the limit set by the central bank. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, said that since it became difficult to expand the business due to the tight capital adequacy ratio, issuance of rights shares or other policy concessions have been requested.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of Nepal Rastra Bank, the primary capital fund (Tier-One Capital) of 11 banks is less than 10 percent as of mid-January this year. The lowest among them is 8.64 percent of Machhapuchche Bank, while that of Kumari Bank and Prabhu Bank is less than 9 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks should keep the primary capital ratio below 8.5 percent. Banks have not been able to expand their business because the primary capital ratio decreases while providing loans. If the capital ratio is less than specified, the central bank will stop distributing dividends to such banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As banks get 9 percent interest rate on government bonds, there is less pressure on them to expand loans. Although the central bank has reduced the bank rate following the review of monetary policy, it has not reduced the interest rate of treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">However, as the interest rate has been decreasing along with the base rate of the banks lately, the association's president KC said that loans will be expanded in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"The base rate and the interest rate, which had reached a high point, have started to decrease," he said, "If the banks’ capital eases in the next two months, the interest on loans will drop to 6-7 percent."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank had set a target of 13 percent credit expansion in the current fiscal year. According to the association, the base rate, which reached 10.19 percent in January, fell to 10.48 percent in April. Similarly, the interest on loans, which reached 13.03 percent in January, also fell to 12.48 percent in April. President KC said that as per the instructions of the NRB, the interest rate difference between loans and deposits (spread rate) should be reduced to 4 percent from June. At present, the spread rate of banks is 4.2 percent.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17687', 'image' => '20230523041010_Banks - Copy.jpg', 'article_date' => '2023-05-23 16:09:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17954', 'article_category_id' => '1', 'title' => 'Over 5,000 Cases of Banking Fraud, Financial Crime Registered in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Police Range, Kathmandu, the highest number of cases have been registered in banking fraud and financial crime in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Range and Superintendent of Police Sitaram Rijal said out of 9,256 cases registered in Kathmandu Valley in the current fiscal year, more than half are of banking fraud and financial crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that most of the cases under banking fraud and financial crimes are related to cheque bounce, dollar exchange, and lottery in recent period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the police range Senior Superintendent of Police Dan Bahadur Karki mentioned that around 35-40 cases related to baking fraud and financial crime are registered in the range every day, adding cases of banking fraud and organised and financial crime have increased in Kathmandu Valley in recent period. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17685', 'image' => '20230523025728_banking-offence -800.jpg', 'article_date' => '2023-05-23 14:56:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17953', 'article_category_id' => '1', 'title' => 'Kamirita Sherpa Reaches Everest Peak for Record 28th Time ', 'sub_title' => '', 'summary' => 'May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday. He reportedly reached the summit of the world's highest peak at 9: 23 am. With this, he broke his own record of the highest number of ascents of Mt Everest. This is his second expedition to the world's highest peak in this spring season. He scaled the peak 27th time just a week ago on May 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 53-year-old climber has a record of 40 summits to the mountains above 8000 meters including Choyu (eight times), Manaslu (three times), Lhotse and Mount K2. He celebrated his first summit to Everest on May 13, 1994. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Pasang Dawa Sherpa has a record of climbing the world's highest peak for the 27th time. The 46-year-old scaled Everest for the second time in this spring on May 22, equaling the record of Kamirita. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, Kamirita broke his own record by reaching the top of world for the 28th time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal's 70-year-old expedition history, the highest number of permits for mountain climbing were issued in this spring. According to the Department of Tourism, 478 climbers of 44 expedition teams acquired permissions for climbing Everest in this season. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17684', 'image' => '20230523022113_20230518105218_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2023-05-23 14:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17952', 'article_category_id' => '1', 'title' => ''Hop On, Hop Off Bus Service' to Operate from Today ', 'sub_title' => '', 'summary' => 'May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTB Chief Executive Officer Dr Dhananjaya Regmi said the 'hop on, hop off' bus is coming into operation from May 23 as a mobile bus service along the routes connecting UNESCO world heritage sites in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The heritage bus service is coming into operation as per the instruction of Tourism Minister Sudan Kiranti,” he said, adding, “Such bus service is in operation in most of the tourism destinations across the world. Though the operation of the bus service has long been in debate in Nepal, the NTB this time is bringing this service despite possible loss.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Two electric Sajha buses would be operated as heritage buses in collaboration with the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'hop on, hop off bus' service that would begin from Lalitpur Metropolitan City would operate mobile transport service in the routes connecting the Kathmandu Durbar Square, Narayanhiti Durbar Museum, Pashuptinath Temple, Bouddhanath and Swoyambhu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'\”Two buses would be operated in each area from half an hour to 45 minutes gap. After operating free service for some days, charge will be arranged later,” said Regmi. -- RSS</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17683', 'image' => '20230523013025_NepalTourismBoard_20220511163003.jpg', 'article_date' => '2023-05-23 13:29:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17950', 'article_category_id' => '1', 'title' => 'Chinese Ambassador Chen Discusses Bilateral Trade with Minister Rijal ', 'sub_title' => '', 'summary' => 'May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday. During the meeting held at the ministry, they discussed bilateral relations, development assistance, and opening of border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal praised Chinese Ambassador Song, saying he had active role on strengthening bilateral relations between Nepal and China. He believed that the bilateral relations would be further strengthened in the days ahead. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bilateral relation between the two countries is special, Minister Rijal said, reiterating that Nepal was committed to not let anyone misuse Nepali territory against China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that of the total foreign trade, trade with China comprises 14 percent. China is Nepal's second largest trade partner, according to Minister Rijal. However, Nepal has been incurring huge loss on trade with China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal also reminded various mechanisms to facilitate Nepal-China trade. Even the meeting of joint consultation mechanism established for implementing transit and transport agreement was not held, he said, urging Ambassador Chen for immediate meeting between the concerned mechanisms in Kathmandu and Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister expressed happiness over the re-operation of Tatopani, Rasuwa and Hilsa border points. He requested the Chinese Ambassador to open further border points soon. He drew the attention of the Chinese Ambassador Chen on opening Nechung-Liji, Kimathanka, Olangchunggola and other border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rijal thanked China for its assistance and collaboration in Nepal's development. He hoped China would extend further assistance and provide foreign direct investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Chen thanked Nepal for supporting One-China policy. He believed bilateral relations would be further strengthened between China and Nepal. The ambassador also said China was positive to extend development assistance and foreign direct investment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17681', 'image' => '20230523120257_Flag-Pins-Nepal-China.jpg', 'article_date' => '2023-05-23 12:02:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 24: The Panchakunda Glacier Lake situated at Narchyang of Annapurna Rural Municipality-4 in Myagdi district has charm of its own. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The lake has been the eye-candy for those trekking up to the Annapurna Base Camp (ABC). </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Situated at an altitude of 4,100 meters from the sea level and lying in the lap of Mt Annapurna, the glacial lake spans across 20,000 square meters in area. The turquoise coloured water in the Lake enchants the onlookers.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Pradeep Pun of Annapurna Rural Municipality-7, who reached the ABC for the first time, shared that he was smitten by the beauty of the Lake that is in the foothill of Mt Annapurna (8,091 meters), the tenth highest mountain in the world. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, he felt that time went by so quickly when he was in awe of the multitude of the vastness of the Lake, the bizarre shape of the glaciers, the color of the water akin to the sky's color among others.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">In winter, five different pools (Pancha Kunda) are visible within the Lake. The Lake therefore acquired the name Pancha Kunda due to this unique property, shared Tej Gurung, a local tourism entrepreneur.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Earlier the Lake was named Dikicho. The locals later coined the word Pancha Kunda for the Lake based on the geographical shape, size and property, he added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Lake can be reached in a one-day trek to sometimes two days from Narchang. Nature lovers view the Tilicho and Nilgiri mountains from the vicinity of the Pancha Kunda. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">A temple dedicated to Lord Shiva and a stupa are built in the vicinity of the Lake to develop the Lake as a religious destination. </span>– <span style="font-size:14.0pt">RSS</span> (Photo Courtesy: TRN)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17698', 'image' => '20230524055317_pancha kunda.jpg', 'article_date' => '2023-05-24 17:47:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17966', 'article_category_id' => '1', 'title' => '1,700 Complaints Lodged Against Loan Sharks in Mahottari', 'sub_title' => '', 'summary' => 'With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed s surge of complaints of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">May 24: With the introduction of a new law to crack down on the loan sharking, Mahottari District Administration Office (DAO) has witnessed a surge of complaints of late. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to Upendra Neuapne, Assistant Chief District Officer of Mahottari, a total of 1,734 complaints have been officially registered against loan sharks in the district.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The number of complainants has increased after the government provided extra time for the victims to register complaints against loan sharking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had introduced an ordinance and announced to take stringent action against those involved in loan sharking. The loan shark victims had started registering their complaints at the Mahottari DAO since May 1.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17697', 'image' => '20230524043504_collage.jpg', 'article_date' => '2023-05-24 16:34:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17965', 'article_category_id' => '1', 'title' => 'Wholesale Business Shrinks to 40 Percent', 'sub_title' => '', 'summary' => 'May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">May 24: Due to the increase in economic turmoil in Nepal, the wholesale business in the country has been limited by 25 to 40 percent as compared to the normal time, according the wholesale traders. They stated that this kind of situation has existed in the business since the last 8 to 10 months.</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"">Yadunath Dhital, who has been in the business of ready-made garments since 10 years at Mahabouddha, the main wholesale market of Kathmandu, informed New Business Age that the situation has become so dire that it is difficult to pay even rent in the current situation. </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"">“Currently, it is difficult to pay even the rent. Compared to the situation nine months ago, the business has been limited to 30 percent. It is equally difficult to pay to the staff as well. The business overall has shrunk a lot,” said Dhital. </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"">Readymade garments businessman Dhital stated that the businessmen now are in a mood of abandoning their businesses. Another businessman Mahesh Burma, who has been doing wholesale business of readymade garments in Mahabouddha for a long time, shared a similar story. He said, “Goods are traded at various places of the country, but we are not able to collect the payments. Other traders say that they have not been able to sell goods.” </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"">Burma said that many retail businessmen were struggling to repay their loans </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17696', 'image' => '20230524023726_20171222032722_jutta herdai_DSC3404.jpg', 'article_date' => '2023-05-24 14:36:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17964', 'article_category_id' => '1', 'title' => 'Seven Companies get Broker License', 'sub_title' => '', 'summary' => 'May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. ', '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"">May 24: The Securities Board of Nepal (SEBON) has given license to seven new companies as brokers. In the first phase, SEBON gave letters of intent to 43 companies for broker license and decided to distribute licenses to seven companies.</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"">Tej Prasad Devkota, information officer of the board, said that the meeting of the board of directors held on May 22 decided to distribute the broker license to seven companies that have received letters of intent. According to information officer Devkota, the board will take a decision soon about issuing license to other companies that have also letters of intent. Devkota clarified that the board decided to distribute the broker license after observing the infrastructure prepared for business operations by the companies that received the letter of intent.</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"">All seven companies have got permission to operate limited broker service on the basis of paid-up capital. Chairman of the board, Ramesh Kumar Hamal, held a program on Tuesday and distributed certificates to those companies.</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"">SEBON has set a paid-up capital of Rs 200 million for the first-level limited brokers, and Rs 600 million for the second-level broker with a full range of work as a DP along with buying and selling of shares, providing investment consulting services and investment management and margin trading services and Rs 1.5 billion for the third level stock dealer. </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 application for the broker license was open from September 18 to October 17 last year.</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"">Altogether 46 companies had submitted applications for the new broker licenses.</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 board said that one of the companies did not met the criteria, one company was disqualified, and one company withdrew its application. The board said that Eagle Stock Equity Private Limited, which requested permission to do limited work, did not apply properly. Similarly, the board said that NIC Asia Securities Company, which applied for limited work, was rejected, and Century Stock Broker Limited withdrew its application.</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"">On this basis, the board issued letter of intent to 43 companies. Among them, one filed application for a stock dealer company, 39 for limited stock broker services, and three for full-fledged stock broker services. The board has said that out of those 43 companies, 12 are subsidiaries of 'A' class banks and 31 belong to other organizations.</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"">It is expected that the efforts of the board to allow companies with strong capital to enter the market will make the securities market more competitive and transparent, the level of securities market services will increase, and investors will benefit from competition in terms of services and prices. The companies that got new broker licenses informed New Business Age that they will start the service within the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Krishna Giri, executive chairman of Sun Securities Pvt. Ltd. informed that the service will be started this year after acquiring a membership of Nepal Stock Exchange.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17695', 'image' => '20230524022740_Sebon-update.jpg', 'article_date' => '2023-05-24 14:26:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17963', 'article_category_id' => '1', 'title' => 'Country Experiences Influence of Westerly Low-Pressure System ', 'sub_title' => '', 'summary' => 'May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The country is currently experiencing the general influence of the Westerly low-pressure system and the local winds. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather is generally to mostly cloudy throughout the country today. Likewise, light to moderate rainfall with thunder, lightning and gusty wind has been predicted at some places of the hill regions of the country and at a few places in the remaining parts of the country, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Heavy rain with thunder and lightning is likely to occur at one or two places of Koshi Province, Bagmati Province and Gandaki Province, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be generally cloudy in the hill areas and partly cloudy to mainly fair in the rest of the country. Light to moderate rainfall with thunder, lightning and gusty wind is likely to occur at some places of Koshi Province and at a few places in the remaining parts of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17694', 'image' => '20230524015907_weatherrrr.jpg', 'article_date' => '2023-05-24 13:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17962', 'article_category_id' => '1', 'title' => 'Govt’s Policies and Programmes Focused on Increasing Production, Creating Employment: PM Dahal', 'sub_title' => '', 'summary' => 'May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.', '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","sans-serif"">May 24: Prime Minister Pushpa Kamal Dahal has said the policies and programmes presented by the government in the parliament are focused on increasing production and creating employment.</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:"Arial","sans-serif"">Responding to queries raised by lawmakers in course of discussion on the government's policies and programmes for the upcoming fiscal year (FY 2023-24) presented in a joint meeting of both the houses of the Federal Parliament on May 19, Prime Minister Dahal shared that the main issue of the policies and programmes is how to increase production and create employment as much as possible.</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:"Arial","sans-serif"">The policies and programmes would strengthen federalism, make structural reforms and revive the economy, modernize and commercialize agro sector, promote industrial sector and increase production and employment, he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">PM Dahal viewed that the policies and programmes have been prepared stressing the issues of promoting exports, ensuring access to public services, information technology, education, health, corruption control and social justice and maintaining peace and security. </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:"Arial","sans-serif"">Stressing that the policies and programmes should be implemented in an effective manner through concerted efforts of all, he stated that successful implementation of the policies and programmes is possible.</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:"Arial","sans-serif"">The prime minister further said that national aspirations are clearly reflected in the policies and programmes. He mentioned that the policies and programmes were presented with a determination to achieve the supreme goal of building prosperous, strong and just Nepal, protecting national sovereignty, territorial integrity, independence and national interest.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17693', 'image' => '20230524010635_PRO_KTM-6F8A0739.jpg', 'article_date' => '2023-05-24 13:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17960', 'article_category_id' => '1', 'title' => 'Deliberations on Prevention of Money Laundering Bill Begins ', 'sub_title' => '', 'summary' => 'May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: Members of Parliament have stressed on the need to discourage wealth generation through illicit means along with the need to discourage illegal financial transactions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">They expressed such views during the deliberations on the bill to amend some Nepal acts related to the prevention of money laundering and promotion of the business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government had introduced the bill in the context of increasing financial crimes with the globalization of banking, technology and trade and shifting nature of cross-boundary crime in any country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in a meeting of the Federal Parliament’s Committee on Law, Justice and Human Rights on Monday, the members of the parliament stressed on the need of improving the bill in a way to discourage illicit wealth generation and illegal financial transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, the bill aims to provide adequate legal arrangement to take action against those involving in remittance flow through illicit ways (hundi) and committing financial crime such as revenue evasion, receipt of payment of criminal income in foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, committee member and Nepali Congress Parliamentary Party Chief Whip Ramesh Lekhak said the bill was targeted to check emerging wrong tendencies especially associated with money laundering, real estate, hundi and cooperatives and human trafficking, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, former Speaker and committee member Subash Nembang highlighted the urgency of working together to swiftly endorse the bill by giving it a complete shape. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other members of the committee also recommended taking tough stance on preventing money laundering and pay attention towards removing constraints in bringing foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the meeting presided over by the committee's senior-most member Mangal Prasad Gupta, some 14 members aired their views focusing on the contents of the bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is expected that the endorsement of the bill and its subsequent enforcement would level up Nepal's legal arrangement on the prevention of money laundering to the international standards and ease effective legal actions against money laundering. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had presented the bill to amend different 19 acts related to the prevention of money laundering and promoting business development in the country. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17691', 'image' => '20230524110236_money laundering.jpg', 'article_date' => '2023-05-24 11:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17959', 'article_category_id' => '1', 'title' => 'Upper House Passes Government’s Policies and Programmes for Upcoming Fiscal Year ', 'sub_title' => '', 'summary' => 'May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The upper house of the Federal Parliament session approved the policies and programmes that were presented before the joint session of the Federal Parliament on May 19 by President Ram Chandra Paudel with majority votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amendment proposals put forth by Tulasa Kumari Dahal, Bimala Ghimire and Dr Bimala Rai Poudyal were rejected by the majority of NA members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to the endorsement, Prime Minister Pushpa Kamal Dahal responded to queries raised by upper house lawmakers during the deliberation over the policies and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA shall meet again at 1 PM pm on May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government will announce the budget for the upcoming fiscal year on May 29 based on the policies and programmes endorsed by both the houses of parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17690', 'image' => '20230524104343_PRO_KTM-066A9590.jpg', 'article_date' => '2023-05-24 10:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17958', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajhang ', 'sub_title' => '', 'summary' => 'May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Seismological Centre, Lainchaur, the 4.5-magntitude earthquake took place at 4.06 on Wednesday morning. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, an earthquake measuring 4.1 in the Richter scale had occurred with its epicentre in Hukam of Rukum-East on May 21 followed by a 4.1 magnitude earthquake with its epicentre at Bichhiya of Bajura district on May 22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late earthquake has become a recurring phenomenon in the eastern and western areas of Nepal. Nepal's hill and mountainous regions are considered highly vulnerable to earthquakes. -- RSS </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17689', 'image' => '20230524102230_earth.jpg', 'article_date' => '2023-05-24 10:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17957', 'article_category_id' => '275', 'title' => 'Around 9,000 Youths from Udayapur Depart for Foreign Employment in 2079', 'sub_title' => '', 'summary' => 'Within year 2079, around nine thousand youths from Udayapur have gone abroad for foreign employment, according to the statistics from the District Police Office and the Safer Migration Program (SaMi) in the district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 24: Within year 2079, around nine thousand youths from Udayapur have gone abroad for foreign employment, according to the statistics from the District Police Office and the Safer Migration Program (SaMi) in the district.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> In the year 2079, the number of youths going abroad for foreign employment has reached almost nine thousand, according to the data. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Most of the youths going for foreign employment have received training related to skills and work capacity enhancement, said SaMi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Among the eight municipalities in the district, Triyuga, Chaudandi Gadhi, and Katari Municipality have the highest number of youths going abroad for foreign employment. Limchungbung, Rautamai, and Udayapur Gadhi Rural Municipality have a significant number of youths going abroad for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to Bijanakumari Basnet, the coordinator of SaMi in Udayapur, the number of youths going to Malaysia from the district is the highest. After Malaysia, she mentioned that youths have been going to Saudi Arabia, UAE, Qatar, and Kuwait. According to the District Police Office, in the year 2079, the number of youths from the district going for foreign employment is 8,268.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"In the previous years, the youths went for foreign employment without proper training and orientation, which resulted in them facing many problems abroad," said Basnet, the coordinator. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Currently, in coordination with the local municipalities, various training programs related to work and providing inspiration, advice, and suggestions are being conducted to reduce the problems faced while going for foreign employment, Basnet informed. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17688', 'image' => '20230524064245_tia.jpg', 'article_date' => '2023-05-24 06:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17956', 'article_category_id' => '1', 'title' => 'Liquidity Eases but Credit Expansion Remains Low', 'sub_title' => '', 'summary' => 'May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. ', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. Although the liquidity crisis has eased, the credit expansion has not been possible due to the pressure on bank capital and the tightening of the market conditions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Bankers Association, the CD ratio of commercial banks has dropped to 84.88 percent as of this Baisakh (mid-April to mid-May). As per the directives of Nepal Rastra Bank (NRB), commercial banks can disburse loans by maintaining a CD ratio of 90 percent. Accordingly, banks can disburse Rs 250 billion in loans at present. However, banks have not been able to extend loans due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">By mid-May of the current fiscal year, commercial banks have collected deposits of Rs 299 billion and disbursed only Rs 123.77 billion in loans. The association informed that the liquidity situation in banks has eased due to lack of credit flow compared to deposit collection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Sunil KC, president of the association and chief executive officer of NMB Bank, says that although the liquidity situation is improving, the credit flow has not increased due to the pressure on bank capital and market conditions. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Liquidity situation in banks is somewhat comfortable," he said in a press conference held by the association on Monday, "However, due to the pressure on capital and market conditions, banks have to invest cautiously."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital adequacy ratio of four out of 21 commercial banks in operation in Nepal has reached the limit set by the central bank. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, said that since it became difficult to expand the business due to the tight capital adequacy ratio, issuance of rights shares or other policy concessions have been requested.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of Nepal Rastra Bank, the primary capital fund (Tier-One Capital) of 11 banks is less than 10 percent as of mid-January this year. The lowest among them is 8.64 percent of Machhapuchche Bank, while that of Kumari Bank and Prabhu Bank is less than 9 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks should keep the primary capital ratio below 8.5 percent. Banks have not been able to expand their business because the primary capital ratio decreases while providing loans. If the capital ratio is less than specified, the central bank will stop distributing dividends to such banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As banks get 9 percent interest rate on government bonds, there is less pressure on them to expand loans. Although the central bank has reduced the bank rate following the review of monetary policy, it has not reduced the interest rate of treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">However, as the interest rate has been decreasing along with the base rate of the banks lately, the association's president KC said that loans will be expanded in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"The base rate and the interest rate, which had reached a high point, have started to decrease," he said, "If the banks’ capital eases in the next two months, the interest on loans will drop to 6-7 percent."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank had set a target of 13 percent credit expansion in the current fiscal year. According to the association, the base rate, which reached 10.19 percent in January, fell to 10.48 percent in April. Similarly, the interest on loans, which reached 13.03 percent in January, also fell to 12.48 percent in April. President KC said that as per the instructions of the NRB, the interest rate difference between loans and deposits (spread rate) should be reduced to 4 percent from June. At present, the spread rate of banks is 4.2 percent.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17687', 'image' => '20230523041010_Banks - Copy.jpg', 'article_date' => '2023-05-23 16:09:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17954', 'article_category_id' => '1', 'title' => 'Over 5,000 Cases of Banking Fraud, Financial Crime Registered in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Police Range, Kathmandu, the highest number of cases have been registered in banking fraud and financial crime in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Range and Superintendent of Police Sitaram Rijal said out of 9,256 cases registered in Kathmandu Valley in the current fiscal year, more than half are of banking fraud and financial crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that most of the cases under banking fraud and financial crimes are related to cheque bounce, dollar exchange, and lottery in recent period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the police range Senior Superintendent of Police Dan Bahadur Karki mentioned that around 35-40 cases related to baking fraud and financial crime are registered in the range every day, adding cases of banking fraud and organised and financial crime have increased in Kathmandu Valley in recent period. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17685', 'image' => '20230523025728_banking-offence -800.jpg', 'article_date' => '2023-05-23 14:56:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17953', 'article_category_id' => '1', 'title' => 'Kamirita Sherpa Reaches Everest Peak for Record 28th Time ', 'sub_title' => '', 'summary' => 'May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday. He reportedly reached the summit of the world's highest peak at 9: 23 am. With this, he broke his own record of the highest number of ascents of Mt Everest. This is his second expedition to the world's highest peak in this spring season. He scaled the peak 27th time just a week ago on May 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 53-year-old climber has a record of 40 summits to the mountains above 8000 meters including Choyu (eight times), Manaslu (three times), Lhotse and Mount K2. He celebrated his first summit to Everest on May 13, 1994. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Pasang Dawa Sherpa has a record of climbing the world's highest peak for the 27th time. The 46-year-old scaled Everest for the second time in this spring on May 22, equaling the record of Kamirita. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, Kamirita broke his own record by reaching the top of world for the 28th time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal's 70-year-old expedition history, the highest number of permits for mountain climbing were issued in this spring. According to the Department of Tourism, 478 climbers of 44 expedition teams acquired permissions for climbing Everest in this season. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17684', 'image' => '20230523022113_20230518105218_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2023-05-23 14:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17952', 'article_category_id' => '1', 'title' => ''Hop On, Hop Off Bus Service' to Operate from Today ', 'sub_title' => '', 'summary' => 'May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTB Chief Executive Officer Dr Dhananjaya Regmi said the 'hop on, hop off' bus is coming into operation from May 23 as a mobile bus service along the routes connecting UNESCO world heritage sites in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The heritage bus service is coming into operation as per the instruction of Tourism Minister Sudan Kiranti,” he said, adding, “Such bus service is in operation in most of the tourism destinations across the world. Though the operation of the bus service has long been in debate in Nepal, the NTB this time is bringing this service despite possible loss.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Two electric Sajha buses would be operated as heritage buses in collaboration with the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'hop on, hop off bus' service that would begin from Lalitpur Metropolitan City would operate mobile transport service in the routes connecting the Kathmandu Durbar Square, Narayanhiti Durbar Museum, Pashuptinath Temple, Bouddhanath and Swoyambhu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'\”Two buses would be operated in each area from half an hour to 45 minutes gap. After operating free service for some days, charge will be arranged later,” said Regmi. -- RSS</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17683', 'image' => '20230523013025_NepalTourismBoard_20220511163003.jpg', 'article_date' => '2023-05-23 13:29:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17950', 'article_category_id' => '1', 'title' => 'Chinese Ambassador Chen Discusses Bilateral Trade with Minister Rijal ', 'sub_title' => '', 'summary' => 'May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday. During the meeting held at the ministry, they discussed bilateral relations, development assistance, and opening of border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal praised Chinese Ambassador Song, saying he had active role on strengthening bilateral relations between Nepal and China. He believed that the bilateral relations would be further strengthened in the days ahead. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bilateral relation between the two countries is special, Minister Rijal said, reiterating that Nepal was committed to not let anyone misuse Nepali territory against China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that of the total foreign trade, trade with China comprises 14 percent. China is Nepal's second largest trade partner, according to Minister Rijal. However, Nepal has been incurring huge loss on trade with China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal also reminded various mechanisms to facilitate Nepal-China trade. Even the meeting of joint consultation mechanism established for implementing transit and transport agreement was not held, he said, urging Ambassador Chen for immediate meeting between the concerned mechanisms in Kathmandu and Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister expressed happiness over the re-operation of Tatopani, Rasuwa and Hilsa border points. He requested the Chinese Ambassador to open further border points soon. He drew the attention of the Chinese Ambassador Chen on opening Nechung-Liji, Kimathanka, Olangchunggola and other border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rijal thanked China for its assistance and collaboration in Nepal's development. He hoped China would extend further assistance and provide foreign direct investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Chen thanked Nepal for supporting One-China policy. He believed bilateral relations would be further strengthened between China and Nepal. The ambassador also said China was positive to extend development assistance and foreign direct investment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17681', 'image' => '20230523120257_Flag-Pins-Nepal-China.jpg', 'article_date' => '2023-05-23 12:02:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
