May 10: The Nepalese Army has collected as many as 3,600 kilograms of solid waste from Myagdi-based Annapurna…
May 10: The Nepalese Army has collected as many as 3,600 kilograms of solid waste from Myagdi-based Annapurna…
Prime Life, Union Life, and Gurans Life Insurance have started their integrated transaction from Baishakh 26, as the biggest merger in the life insurance…
May 9: The spring season is favourable for mountain climbing in Nepal. During this season, the nation welcomes a noticeable number of aspiring climbers from across the globe for expeditions to Mount Everest and other various…
May 9: Rastriya Swatantra Party (RSP), the fourth largest party in parliament, stands against the new stock exchange platform.…
After thirteen days of decline, the Nepal Stock Exchange (NEPSE) Index saw a rise of 0.58% on Tuesday, the third trading day of the week. The NEPSE Index gained 10.66 points, closing at 1844.36 points…
May 9: Nepal Electricity Authority (NEA) is constructing eight high-capacity substations to improve the electricity transmission and distribution system in Kathmandu Valley.…
May 9: Nepal Rastra Bank (NRB) has removed the provision that allows banks to change the interest rate on loans only once in a quarter.…
Hulas Aluminium, a renowned brand in Nepal, held an informative meeting for fabricators to promote their innovative new app, the "Hulas Steel…
May 9: The Securities Board of Nepal (SEBON) has registered a case against Gyanendra Lal Pradhan, the then-chairman of Nepal Hydro Developers Limited, in the Kathmandu District Court.…
May 9: Parliamentarians have suggested the government not to bring the traditional-style ritualistic budget when the economy is in crisis.…
May 9: Lawmakers have raised concerns over the use of 'vague' words in the government’s annual policies and programmes and in the…
The Chachan Group has opened the Thrill Water Park at Bara-Parsa Corridor, as part of its increased investment in the entertainment…
Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year,…
May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of…
The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 10: The Nepalese Army has collected as many as 3,600 kilograms of solid waste from Myagdi-based Annapurna I. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As part of the Clean Mountain Campaign spearheaded by the Nepalese Army, the waste matter was collected from Mt Annapurna I and its base camp. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 8,071-meter high Annapurna I lies in Annapurna Rural Municipality-4, Narchyang of Myagdi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Administrative Officer of Annapurna Rural Municipality, Amrit Subedi said the NA's mountain cleaning team had started cleaning up Mt Annapurna on April 10 and returned on May 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team comprising 10 NA personnel and 13 from Peak Promotion Travel Agency had collected garbage from the mountain and the base camp for more than a month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NA mayor Gajendra Deuba had led the clean-up campaign. The army team along with Captain Bhim Bahadur Bhujel had reached atop the 8,091 meter high Annapurna peak and collected garbage there as well.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The waste collected include 1,200-kg biodegradable and 2,400-kg non-biodegradable waste, the team shared. The biodegradable waste has been managed at Bhusaket in the presence of the representatives of Annapurna Youth Club in Narchyang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The non-biodegradable waste was taken to Dana of Myagdi via a helicopter belonging to Prabhu Air. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The waste airlifted to Dana from the Annapurna Base Camp was then sent to Kathmandu-based NA headquarters in a truck, shared Indra Siingh Sherchan, a local of Dana. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2,400-kg wastes including plastics, tins, iron and lead were sent to Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The clean-up was done in the Annapurna mountain and its base camp after 72 years since mountaineering was permitted, said Chairperson of Village Conservation Area Management Committee, Narchyang, Tej Gurung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The waste was increasingly piling up in the mountain and base camp with the rise in the number of mountaineers and trekkers,” he said, adding, “The NA team cleaned up the Annapurna mountain for the first time.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara metropolis had extended financial support of Rs 1.5 million to the NA for the clean mountain campaign. NA has conducted 'Clean Mountain Campaign-2023' in Mount Annapurna, Sagarmatha, Lhotse and Barunche peaks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 8,000-merter high Dhaualagiri and Manaslu mountains located in Gandaki province were cleaned earlier. The NA has initiated the campaign realizing the waste dumped in the mountain caused environmental imbalance and imparted a wrong message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA that started the campaign since 2019 had extracted 7,157 kilograms biodegradable waste from the Mount Everest, Lhotse, Manaslu and Kanchanjunga peaks last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-10', 'modified' => '2023-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '17544', 'image' => '20230510115148_Nepalisena-1.JPG', 'article_date' => '2023-05-10 11:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17810', 'article_category_id' => '1', 'title' => 'Prime Life, Union Life, and Gurans Life Insurance Begin Joint Transactions ', 'sub_title' => '', 'summary' => 'Prime Life, Union Life, and Gurans Life Insurance have started their integrated transaction from Baishakh 26, as the biggest merger in the life insurance sector. ', 'content' => '<p><span style="font-size:18px">May 10: Prime Life, Union Life, and Gurans Life Insurance have started their integrated transaction from Baishakh 26, as the biggest merger in the life insurance sector. </span></p> <p><span style="font-size:18px">The three companies have merged and started operations under the name "Himalayan Life Insurance”. These companies had reached an initial agreement for the merger on Baisakh 29, last year, and completed the merger process within a year of the initial agreement.</span></p> <p><span style="font-size:18px">After the merger, the central office of the company is located at the central office of Prime Life, which is located in Manakamana Marg, Naxal, Kathmandu, according to the latest arrangement. </span></p> <p><span style="font-size:18px">According to the latest arrangement made by Insurance Authority of Nepal, the life insurance company has to maintain Rs. 5 billion and the non-life insurance company has to maintain Rs. 2.50 billion in paid-up capital. Following the merger, the paid-up capital of the three companies has reached Rs. 7.72 billion.</span></p> <p><span style="font-size:18px">Prime Life has proposed to distribute 13 percent bonus shares from the profit of fiscal year 2077/78 BS, which was approved by the annual general meeting held on Poush 24, 2079 BS. After the bonus, Prime Life's paid-up capital has reached Rs. 3.14 billion. </span></p> <p><span style="font-size:18px">Similarly, Union Life has proposed to distribute 8.97 percent bonus shares this year, which was approved by the annual general meeting held on Magh 26, 2079. After the bonus, the paid-up capital of the Union Life Insurance has reached NPR 2.34 billion. </span></p> <p><span style="font-size:18px">Gurans Life Insurance, however, has yet to announce the dividend this year. The paid-up capital of the Gurans Life Insurance is NPR 2.23 billion. </span></p> <p><span style="font-size:18px">After the merger, the former chairman of Union Life Insurance, Sulabh Agrawal, has become the chairman of the board of directors of the merged company, and the chief executive officer of Union Life Insurance, Manoj Kumar Lalkarna, has been appointed the Chief Executive Officer of the merged company. </span></p> <p><span style="font-size:18px">The former chief executive officer of Gurans Life, Bipin Karn, and the chief executive officer of Prime Life Insurance, Nirmal Dahal, have agreed to become senior deputy chief executives of the merged entity. </span></p> ', 'published' => true, 'created' => '2023-05-10', 'modified' => '2023-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '17543', 'image' => '20230510061429_collage (4) (1).jpg', 'article_date' => '2023-05-10 06:09:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17809', 'article_category_id' => '1', 'title' => 'Government Collects Royalties Worth Over Rs 740 Million from Expedition Permits this Spring ', 'sub_title' => '', 'summary' => 'May 9: The spring season is favourable for mountain climbing in Nepal. During this season, the nation welcomes a noticeable number of aspiring climbers from across the globe for expeditions to Mount Everest and other various peaks. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 9: The spring season is favourable for mountain climbing in Nepal. During this season, the nation welcomes a noticeable number of aspiring climbers from across the globe for expeditions to Mount Everest and other various peaks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">People from 80 countries including Nepal took permissions from the Department of Tourism for climbing Nepal's peaks including Mt Everest during this spring season. Among them, citizens from 65 countries acquired permits for Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mountaineering Section of the department said that revenue of over Rs 740 million has been collected so far from the expedition permit fees in this spring. The permission for Mt Everest alone contributed Rs 650 million followed by Rs 28.3 million from Lhotse and Rs 13.6 from Makalu expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section Officer Bigyan Koirala said that the permits issued for climbing Everest were the highest ever and the revenue collection has also increased. Nepal is home to eight peaks of above 8,000 meters in the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Koirala said 467 people of 44 expedition teams obtained permission for climbing Mt Everest as of May 8. This figure is likely to go up slightly as the department expects a few more permits to be issued by Wednesday. Almost all aspiring climbers have already arrived. They are in the Everest Base Camp and Camp 2 waiting for favourable conditions to set out for their journey to the peak of Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Icefall doctors have already fixed a route to Camp 4 of Everest. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17542', 'image' => '20230509060445_1683182194.tourist.jpeg', 'article_date' => '2023-05-09 18:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17808', 'article_category_id' => '1', 'title' => 'Why is the Fourth Largest Party in Parliament against New Stock Exchange?', 'sub_title' => '', 'summary' => 'May 9: Rastriya Swatantra Party (RSP), the fourth largest party in parliament, stands against the new stock exchange platform. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Rastriya Swatantra Party (RSP), the fourth largest party in parliament, stands against the new stock exchange platform. Although the other parties in the federal parliament did not oppose it, only RSP stood against this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The party's lawmakers are arguing that when the new stock exchange comes into operation, the capital market of Nepal will be under the grip of certain groups. They have been arguing that the license distribution process should be stopped immediately, saying that there is a big corruption in granting license for a new stock exchange.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Securities Board of Nepal (SEBON) has said that an evaluation committee has been formed under the coordination of Joint Secretary at the Ministry of Law, Phanindra Gautam and the necessary steps for the distribution of licenses for the new stock exchange have been taken. According to a member of the evaluation committee, the process has reached its final stage.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Himalayan Stock Exchange, National Stock Exchange and Annapurna Stock Exchange have applied for the license of a new stock exchange with the board. But the RSP MPs have been putting pressure on the government agencies to stop the process immediately saying that there is financial manipulation in the license distribution process of the new stock exchange.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the zero hour of the House of Representatives meeting on April 28, RSP lawmaker Sobita Gautam said that the process of granting licenses to new stock exchanges should be stopped immediately. Referring to the fact that the government-owned Nepal Stock Exchange (NEPSE) is contributing about Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion as dividend to the government every year, she accused that the NEPSE is being weakened intentionally to divert its business to the new stock exchange. She said that the preparations for giving license to the new stock exchange should be stopped immediately to avoid the capital market of Nepal coming under the control of certain groups.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In response to the question raised by New Business Age regarding why is the RSP opposed to the new stock exchange, Biraj Bhakta Shrestha, the deputy parliamentary party leader of the RSP and head of the currency and capital market department of the party, claimed that they are bringing a new exchange for the benefit of some limited people without conducting a scientific study of the need for a new stock exchange in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“In addition to the clear intentions, there are also signs of corruption. Therefore, even if RSP is alone against such mala fide intentions, it will always stand in opposition and will continue to protest such move," he said. Apart from this, RSP is also serious about protecting investors' investments, he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist and former chairman of the Securities Board of Nepal Rewat Bahadur Karki says that when the new exchange comes into operation, NEPSE which is currently operating will be stronger rather than weaker.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“When the private sector banks came into operation, there was improvement in the performance of state-owned banks. Similarly, when a private sector telecom company starts operating, the government’s telecom company improves, when a new stock exchange comes into operation, NEPSE will improve rather than weaken,” he argued.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that NEPSE has not been able to bring new tools to the market due to lack of competition. He said that when a new stock exchange comes into operation, there will be healthy competition, new tools and new technologies will be introduced in the market, which will help in the development and expansion of the market. He believes that this will also benefit the investors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Karki says, "The market is currently dominated by limited individuals. Since both NEPSE and the board are owned by the government, the board has not been able to regulate the secondary market properly. Therefore, when a new exchange comes into operation, the regulatory capacity of the board will also expand.”</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17541', 'image' => '20230509043400_aaaa.jpg', 'article_date' => '2023-05-09 16:31:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17807', 'article_category_id' => '1', 'title' => 'NEPSE Witnesses Gains of 10.66 Points', 'sub_title' => '', 'summary' => 'After thirteen days of decline, the Nepal Stock Exchange (NEPSE) Index saw a rise of 0.58% on Tuesday, the third trading day of the week. The NEPSE Index gained 10.66 points, closing at 1844.36 points today.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: After thirteen days of decline, the Nepal Stock Exchange (NEPSE) Index saw a rise of 0.58% on Tuesday, the third trading day of the week. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NEPSE Index gained 10.66 points, closing at 1844.36 points today. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 269 scrips exchanged hands via 20,776 transactions, amounting to a turnover of NPR over 77.47 crores. The turnover amount is less than yesterday’s turnover amount of NPR 82.42 crores. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Himal Dolakha Hydropower Company(HDHPC) had the highest turnover of NPR 6.96 crores and closed at a market price of NPR 189.50 per share. HDHPC shares traded the most in the NEPSE. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People’s Power Limited (PPL) gained the highest 6.47%. Conversely, Unique Nepal Laghubitta Bittiya Sanstha limited(UNLB)lost the highest, falling by 8.68%. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All thirteen sector indices closed in the green zone, with Hotels and Tourism experiencing the highest gains of 1.94%, while Trading Index saw a marginal gain of 0.12%. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Sensitive Index made gains of 0.53%, while Float Index and Sensitive Float Index 0.57% and 0.48% respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts on the stock market and investors attribute the positive impact on NEPSE to the Nepal Rastra Bank's new directive to change the interest rate on loans on a monthly basis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Finance Minister Dr Prakash Sharan Mahat's remarks in the National Assembly to lower interest rates on loans to spur economic growth may have helped to break NEPSE's downward trend.</span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17540', 'image' => '20230509040633_collage (2).jpg', 'article_date' => '2023-05-09 16:03:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17806', 'article_category_id' => '1', 'title' => 'Eight Substations Being Built to Improve Electricity Distribution System in Kathmandu Valley', 'sub_title' => '', 'summary' => 'May 9: Nepal Electricity Authority (NEA) is constructing eight high-capacity substations to improve the electricity transmission and distribution system in Kathmandu Valley. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Nepal Electricity Authority (NEA) is constructing eight high-capacity substations to improve the electricity transmission and distribution system in Kathmandu Valley. Substations of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">KV, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">KV and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV capacities are under construction in the valley.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to address the potential electricity demand by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the authority has set a deadline and advanced the process of construction of transmission and distribution infrastructure in major areas of the Kathmandu Valley in a phased manner.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the highest demand for electricity in Kathmandu Valley is projected to reach </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> megawatts, and the authority has advanced the construction process of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> more new substations. Land acquisition process for construction of the substations has been started. A survey is being conducted to construct a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV ring around the outer perimeter of Kathmandu Valley with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Substations are under construction at Lapsiphedi, Matatirtha, Chobhar, Futung, Teku, Mulpani and Thimi and Changunarayan in Bhaktapur. Teku and Changunarayan substations are in the final stages of construction. Both the substations will come into operation by next June.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kulman Ghising, executive director of the authority, said that work is underway to complete the substation projects under construction as soon as possible to meet the increasing demand for electricity in the Kathmandu Valley. It is also aimed at making the supply reliable, he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ghising, during an inspection visit to the Teku, Futung and Changunarayan substations, instructed the project management and construction workers to complete the construction of the substations within the stipulated time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the winter of this year, the demand for electricity in Kathmandu Valley did not increase so much, due to which it became easier to manage the electricity supply. Considering the winter of next year, the construction of the substation should be completed before that," said Executive Director Ghising. After the construction of Teku and Futung substations is completed, the management of electricity demand and supply in Kathmandu will be much easier.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Teku-based </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substation is being strengthened and a new </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substation is being constructed at Futung. Two power transformers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">45/45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA capacity will be placed in both the substations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to facilitate the electricity supply in the central part of Kathmandu, nine new feeders will be removed from Teku substation for local electricity supply.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To make the power supply of Kathmandu Valley reliable and to ensure its quality, projects such as construction of new substations, automation of existing substations, laying underground electric wires, adding and strengthening of new feeders and transformers are being implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Improvement of transmission and distribution system is being done with the investment of Nepal government and the authority, concessional loan from Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The process of acquiring </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ropanis of land required for the construction of substation on the land of Himal Cement near the Chobhar Dry Port is progressing. A </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission line has been built from Matatirtha to Chobhar.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A substation will be built in Chobhar and a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV underground line will be constructed and taken to Lagankhel substation in Lalitpur through the ring road. Lagankhel substation is being strengthened and made </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV. Then in the coming days, the line will be taken underground from there to Chapagaon and Harsiddhi. In Lalitpur area, electricity is being supplied from Suchatar-Patan-Vaneshwar </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV line. This line is already 'overloaded'.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Construction of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220/132/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substations in Lapsiphedi has not been started yet due to local obstruction. Lapsiphedi substation is being built to distribute the electricity produced by the hydroelectric projects built in the Tamakoshi and Sunkoshi river catchment areas in the Kathmandu valley. Locals are obstructing the construction of about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km transmission line from Lapsiphedi to Changunarayan substation.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17539', 'image' => '20230509040046_1683532052.bijuli.jpg', 'article_date' => '2023-05-09 15:59:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17805', 'article_category_id' => '1', 'title' => 'NRB Makes Arrangement to Change Interest on Loans Every Month', 'sub_title' => '', 'summary' => 'May 9: Nepal Rastra Bank (NRB) has removed the provision that allows banks to change the interest rate on loans only once in a quarter. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Nepal Rastra Bank (NRB) has removed the provision that allows banks to change the interest rate on loans only once in a quarter. Along with this decision, banks and financial institutions will now have to change the interest on loans every month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On Monday, Nepal Rastra Bank issued instructions to banks and financial institutions of A, B and C categories to change the interest on loans every month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has made new arrangement to change the interest on loans in a monthly basis according to the base rate of the last three months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While changing the interest on loans, it has to be changed on a monthly basis considering the increase or decrease in the average base rate of the last three months," reads the instructions issued 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:"Arial","sans-serif"">Prior to this, there was an arrangement for changing the interest rate on loans on a quarterly basis.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17538', 'image' => '20230509025612_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-05-09 14:55:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17804', 'article_category_id' => '1', 'title' => 'Hulas Aluminium Organizes Meeting to Promote Innovative Steel App with Attractive Prizes', 'sub_title' => '', 'summary' => 'Hulas Aluminium, a renowned brand in Nepal, held an informative meeting for fabricators to promote their innovative new app, the "Hulas Steel App."', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: Hulas Aluminium, a renowned brand in Nepal, held an informative meeting for fabricators to promote their innovative new app, the "Hulas Steel App" on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The event took place at Diyalo Foodland in Chitwan, where Hulas Steel had previously launched the app several weeks ago. The program was designed to provide fabricators with more information about the app and its features.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hulas Steel App was launched with the slogan "Hulas Steel App in Mobile, Travel to Europe in Gift," offering special gifts such as a trip to Europe, six tola gold, Pulsar bikes, and other attractive prizes for fabricators.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Customers who download the app on their mobile phones can purchase products and pay for them by loading the bill into the app and receiving points in return. The more points accumulated, the more gifts the customer can receive, as per the company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, Hulas Steel, with over forty years of proud history, informed fabricators about their new products, and over 150 fabricators attended the event.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hulas Steel App offers a convenient and innovative way for customers to purchase steel products while receiving rewards for their loyalty.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17537', 'image' => '20230509021823_collage.jpg', 'article_date' => '2023-05-09 14:15:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17803', 'article_category_id' => '1', 'title' => 'Case Registered against Gyanendra Lal Pradhan', 'sub_title' => '', 'summary' => 'May 9: The Securities Board of Nepal (SEBON) has registered a case against Gyanendra Lal Pradhan, the then-chairman of Nepal Hydro Developers Limited, in the Kathmandu District Court. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 9: The Securities Board of Nepal (SEBON) has registered a case against Gyanendra Lal Pradhan, the then-chairman of Nepal Hydro Developers Limited, in the Kathmandu District Court. A case was registered in the Kathmandu District Court on May 8, claiming that Pradhan had traded in securities against the law.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board’s spokesperson Mukti Shrestha confirmed that a case has been registered against Pradhan in the Kathmandu District Court demanding action against him as per Section 98 of the Securities Act, 2063. According to the board, Pradhan sold the shares in the secondary market through his wife, contrary to the rule that forbids him from transferring shares in any way during his tenure as the chairman until a year after leaving the position.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Even if Pradhan himself did not sell his shares, doing it through the help of his family is not justifiable," said Shrestha. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Section 98 of the Securities Act, 2063, considers one to be a fraud if someone acts to deceive someone. Shrestha said that since it became clear that Pradhan deceived the regulatory body, the securities market and other stakeholders, he has to go through the legal process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, the Board of Directors’ meeting held on April 1 had decided to take action against Pradhan, bar him from becoming a director of any listed company for 10 years, along with a cash fine. According to the provisions of the Securities Act, Pradhan has been fined Rs 75,000 in cash, and the board has taken action so that he cannot be reinstated as a director, general manager or similar position of any public limited company or organization for 10 years.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the provisions of the Securities Registration and Issuance Regulations, the directors, executive heads and other officials of listed companies are not allowed to buy and sell the shares of such companies or the company they are involved in by themselves or through their family members for a year after being in the office or after leaving the office. However, after receiving a complaint that Pradhan traded shares against the said provision, the board started an investigation from the last winter.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The investigation report has also been submitted to the Public Prosecutor's Office. As there is sufficient basis and evidence for the charges against Pradhan, the case has been registered in the District Court with the support of the Public Prosecutor's Office.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board has been investigating the complaint of illegal securities trading with special priority. Earlier, the board had decided to take action against the then chairman of Ridi Power Company, Guru Prasad Neupane, who was accused of illegal securities trading, with a cash fine.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Neupane was also punished by the board with a fine of Rs 75,000 and barred from serving as a director, general manager or similar position of any listed company for 10 years. The board had registered a case against Neupane in the Kathmandu District Court on March 22.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17536', 'image' => '20230509014954_1683604470.collage (2).jpg', 'article_date' => '2023-05-09 13:49:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17802', 'article_category_id' => '1', 'title' => 'MPs Suggest Government not to Announce Ceremonial Budget', 'sub_title' => '', 'summary' => 'May 9: Parliamentarians have suggested the government not to bring the traditional-style ritualistic budget when the economy is in crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: Parliamentarians have suggested the government not to bring the traditional-style ritualistic budget when the economy is in crisis. During the deliberations on the principles and priorities of the Appropriation Bill 2080 at the House of Representatives meeting on Monday, the lawmakers said that a conservative budget does not make sense when the economy is in crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Swatantra Party’s MP and economist Dr Swarnim Wagle said that the principles and priorities laid down in the Appropriation Bill 2080 by Finance Minister Prakash Sharan Mahat are ritualistic. He argued that it is not appropriate to talk about economic stability when the economy is troubled and has lost its rhythm.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The current economic growth rate is only around 2 percent, which is much lower than the target of 8 percent for the current fiscal year. With only two months left in the fiscal year, achieving this target seems highly unlikely,” said Wagle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Wagle, the government has collected Rs 733 billion in revenue and spent Rs 1,116 billion as of Sunday night and it is not easy to bridge such a big gap between revenue collection and expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He added that there is a big gap between credit investment and economic growth in the financial sector at present. According to him, the loan is increasing by 20-22 percent annually and it does not seem to match the speed of the economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MP Wagle urged the government to re-evaluate the issues that need to be urgently done through the budget to fill the gap between import and export of goods and services and between production and consumption. According to him, the government needs to adopt a different approach to address this issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Wagle also pointed out the need to move from quantitative development to qualitative development. According to him, education, health and drinking water are among the principles and priorities of the government, but there has not been any significant change in these areas in the last 32 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, emphasis should now be placed on education in schools and quality services in hospitals rather than the number of roads and schools. He said that malnutrition is rife in Nepal, adding that malnutrition has afflicted one third of the entire generation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Wagle says that it is wrong for the finance minister to say that there is no place in the financial policy and to go ahead with the monetary policy tool. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali Congress MP and former Finance Minister Gyanendra Bahadur Karki suggested that the main objective of the upcoming budget should be to focus on production and employment growth. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Due to the contraction in resources, we do not have the facility to make a budget on a whim," he said, adding, “In the current situation, it is not a populist budget but a realistic one that is necessary.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the world economy is having some impact on Nepal's economy, Karki said that the budget should come with the determination to increase employment and develop a sustainable and strong economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Karki welcomed and supported Mahat's determination to achieve economic growth, increase employment and develop a sustainable and strong economy by incorporating those issues in the principles and priorities of the Appropriation Bill, 2080. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (UML) MP and former finance minister Bishnu Prasad Paudel pointed out to the fact that there is a ‘slowdown’ in the economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The government should present facts about the current situation and the problems faced by the economy. However, I found that the government is oblivious to the problems and challenges of the economy," said Paudel. "The government is unaware about where the problem is and what the challenges are."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the data released by the National Statistics Office shows that the Nepalese economy is in recession. Paudel said that the economic growth rate of the second quarter of the current fiscal year is negative and this confirms recession. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This is what the statistics have said. Do we cover up or admit that the economy is in recession? We is this situation. Considering that the economy is now in recession, the budget should come with the determination to face the challenges. However, the government hasn’t accepted it," said former Finance Minister Paudel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the private sector is disappointed and the public finances are being wasted. According to Paudel, revenue collection has increased by only 50 percent in the current year compared to the target and decreased by 13 percent compared to last year, but the expenses have increased by 19 percent. Paudel said that this is the reason why there is a deficit of more than Rs 200 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Swatantra Party’s MP Ravi Lamichhane said that the country's economy is now in an extraordinary situation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The finance minister presented a document that is not different from the previous years, filled with 'will be done' as in previous years." This document has come as a regular ritual to be presented by changing some words and sentences.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17535', 'image' => '20230509120928_NP_KTM-0D3A7296.jpg', 'article_date' => '2023-05-09 12:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17801', 'article_category_id' => '1', 'title' => 'Upper House Lawmakers Show Concerns Over 'Vague' Words in Budget', 'sub_title' => '', 'summary' => 'May 9: Lawmakers have raised concerns over the use of 'vague' words in the government’s annual policies and programmes and in the budget. ', '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 9: Lawmakers have raised concerns over the use of 'vague' words in the government’s annual policies and programmes and in the budget. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Each budget has ambigious sentences like 'shall be implemented', 'shall be prioritized', 'shall be stressed' and the list goes on, according to lawmakers who were airing their views in a meeting of the National Assembly (NA), the Upper House of the Federal Parliament, on Monday. They said such phrasing makes the government’s 'priorities' further unclear, raising doubts over their enforcement. </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 government has been urged to not make the budget a compilation of such vague words. </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"">Narayan Dhakal demanded the government incorporate such issues which are implementable in the upcoming budget. Expressing his concern over the weak implementation of the budget, he urged the government to make the budget a substantive and a real document. </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"">He was of the view of minimizing the current expenditure and finding out reasons for the dismal capital expenditure. </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"">Likewise, Sharada Devi Bhatta demanded for budget allocation for the establishment of a chemical fertilizer factory within the country. </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"">Narayan Dutta Mishra sought the promotion of domestic-manufactured electric vehicles, sufficient supplies of chemical fertilizer and adequate budget to the education and health sectors while Madan Kumari Shah (Garima) drew the government's attention towards the need of self-sufficient agriculture. She urged the government to further promote the energy sector to reduce a huge budget being spent on energy imports. </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"">Meanwhile, lawmakers speaking in the meeting of the Upper House of the Federal Parliament also expressed happiness over the government determining the priority of the next fiscal year's budget by focusing on economic development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">They called on the government to focus on job creation, production growth, agriculture, herbs, forests, education and health sectors in the next fiscal year's budget. They also urged the government to address the problems encountered in development and construction works, especially those related to contracts and bidding.</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"">Some lawmakers called for allocating the budget to the provinces based on the population and initiating measures to boost up the economy through tourism promotion, hydroelectricity development and industrialization.</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"">Lawmakers Maya Prasad Sharma, Dil Kumari Thapa Rawal, Kamala Panta, Singha Bahadur Bishwakarma, Mrigendra Kumar Singh Yadav and Shekhar Kumar Singh made such demands.</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"">Speaking at the outset of the meeting prior to this, CPN (UML) lawmaker Bhairab Sundar Shrestha drew the attention of the House saying a lawmaker had made an 'indecent statement' in the meeting on Sunday and demanded that the statement be removed from the record.</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"">National Assembly Chairman Ganesh Prasad Timilsina said that he will take a decision on this matter only after listening to the statement.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17534', 'image' => '20230509110705_Parliament RSS 800.jpg', 'article_date' => '2023-05-09 11:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17800', 'article_category_id' => '1', 'title' => 'Chachan Group Opens Water Park in Bara-Parsa Corridor', 'sub_title' => '', 'summary' => 'The Chachan Group has opened the Thrill Water Park at Bara-Parsa Corridor, as part of its increased investment in the entertainment industry.', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 9: The Chachan Group has opened the Thrill Water Park at Bara-Parsa Corridor, as part of its increased investment in the entertainment industry. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The industrial and trade group's director, Nikhil Chachan, revealed that the water park is the first of its kind in the Madhes province and is targeting tourists from Bara, Parsa, Rautahat, Makawanpur, and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The water park, which was constructed with an investment of NPR 70 million, is suitable for all age groups.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In addition to the water park, the Chachan Group is also planning to launch an off-road track for off-road driving enthusiasts on a two bigaha land adjacent to the water park, within the next one and a half months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This move comes after the group opened a thrill factory at Bara's Chainpur six months ago. Notably, the water park has been set up on the premises of the thrill factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Thrill Water Park is expected to be a popular attraction among locals and tourists alike, further boosting the region's tourism sector.</span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17533', 'image' => '20230509061704_collage (6).jpg', 'article_date' => '2023-05-09 06:15:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17799', 'article_category_id' => '1', 'title' => 'Government’s Efforts to Improve Economy Inadequate: Dr Swarnim Wagle', 'sub_title' => '', 'summary' => 'Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year, 2023/24.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 9: Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year, 2023/24. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle stated that these efforts were not enough and that the economy needs drastic measures rather than ritualistic ones, said Dr Wagle during a meeting of the House of Representatives on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite accommodating many things, the principles and priorities outlined in the bill have not met the expectations of the people, according to Dr Wagle. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He commented that it would be inappropriate to talk about economic growth and prosperity when the country's economy has lost its pace. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The current economic growth rate is only around 2 percent, which is much lower than the target of 8 percent for the current fiscal year. With only two months left in the fiscal year, achieving this target seems highly unlikely.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle also raised concerns about the increasing gap between expenditures and incomes, which is a major challenge in reducing the budget deficit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle highlighted the significant gap between loan investments and economic growth, with loan rates regularly increasing to 20 or 22 percent. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Despite this, it seems that loan investments have not significantly contributed to economic growth, he added. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17532', 'image' => '20230509054757_collage (5).jpg', 'article_date' => '2023-05-09 05:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17798', 'article_category_id' => '1', 'title' => 'HoR starts Deliberations on Principles and Priorities of Appropriation Bill ', 'sub_title' => '', 'summary' => 'May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers on Monday put forth their views on the proposal during the deliberation on the principles and priorities of the bill (except taxes) put forward by Finance Minister Dr Prakash Sharan Mahat in the first meeting of the Budget Session of the federal parliament on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deliberation will run for three days. On the occasion, former finance ministers Gyanendra Bahadur Karki and Bishnu Prasad Paudel put their views on the existing situation of the country's economy, possible challenges and next strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed the need for prioritising the programmes that would create job opportunities and contribute to sustainable economic development by taking the economy on the road to improvement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also a Nepali Congress lawmaker, suggested that the next budget should mainly focus on production and employment. "We do not have the luxury of making the budget excitedly due to a shrinkage of income sources. In this present situation, a realistic budget is needed, but not a populist one," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He welcomed and supported Minister Dr Mahat for his commitments to get economic growths, increments in job opportunities and development of sustainable economy through the principles and priorities of the Bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Paudel, a CPN (UML) lawmaker, suggested that the budget should prioritises the goals of taking the country on the path to economic prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also warned of possible economic recession in case of failure to take effective initiatives to improve the negative indicators of the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The budget should also accommodate the things keeping in view of the current economic challenges,” he said. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17531', 'image' => '20230508055057_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 17:50:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17797', 'article_category_id' => '1', 'title' => 'NEPSE's Fall Continues Unabated', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">May 8: The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">A total of 270 scrips exchanged hands via 25,588 transactions, amounting to a turnover of Rs. 82.42 crores. This is a significant increase from the previous day's turnover of Rs. 60.81 crores. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover of Rs. 3.78 crores and closed at a market price of Rs. 398 per share. The shares of HDHPC traded the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) bucked the trend and gained the highest 8.05% for the day. Conversely, Eastern Hydropower Limited (EHPL) lost the most, falling by 9.99% today. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">All 13 sector indices closed in the red zone, with "Hotel and Tourism" experiencing the highest loss of 2.44%, while "Mutual Fund" saw a marginal loss of 0.06%. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">The Sensitive Index lost 0.68%, while the Float Index and Sensitive Float Index fell by 0.94% and 0.72%, respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Expert investors attribute the continuous decline in NEPSE to the ongoing financial crisis, lack of liquidity, high interest rates on credit, and low economic growth. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Investors are urging for policy-level changes that can inject confidence into the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">They are hopeful that the Nepal Rastra Bank will remove the cap of NPR 1200 million on margin lending and reduce the risk weightage on share loans from 150 to 100 in its quarterly review of monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">If these policy-level changes are implemented, they are expected to have a positive impact on the stock market, according to expert investors.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17530', 'image' => '20230508043218_collage (3).jpg', 'article_date' => '2023-05-08 16:29:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 10: The Nepalese Army has collected as many as 3,600 kilograms of solid waste from Myagdi-based Annapurna I. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As part of the Clean Mountain Campaign spearheaded by the Nepalese Army, the waste matter was collected from Mt Annapurna I and its base camp. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 8,071-meter high Annapurna I lies in Annapurna Rural Municipality-4, Narchyang of Myagdi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Administrative Officer of Annapurna Rural Municipality, Amrit Subedi said the NA's mountain cleaning team had started cleaning up Mt Annapurna on April 10 and returned on May 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team comprising 10 NA personnel and 13 from Peak Promotion Travel Agency had collected garbage from the mountain and the base camp for more than a month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NA mayor Gajendra Deuba had led the clean-up campaign. The army team along with Captain Bhim Bahadur Bhujel had reached atop the 8,091 meter high Annapurna peak and collected garbage there as well.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The waste collected include 1,200-kg biodegradable and 2,400-kg non-biodegradable waste, the team shared. The biodegradable waste has been managed at Bhusaket in the presence of the representatives of Annapurna Youth Club in Narchyang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The non-biodegradable waste was taken to Dana of Myagdi via a helicopter belonging to Prabhu Air. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The waste airlifted to Dana from the Annapurna Base Camp was then sent to Kathmandu-based NA headquarters in a truck, shared Indra Siingh Sherchan, a local of Dana. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2,400-kg wastes including plastics, tins, iron and lead were sent to Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The clean-up was done in the Annapurna mountain and its base camp after 72 years since mountaineering was permitted, said Chairperson of Village Conservation Area Management Committee, Narchyang, Tej Gurung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The waste was increasingly piling up in the mountain and base camp with the rise in the number of mountaineers and trekkers,” he said, adding, “The NA team cleaned up the Annapurna mountain for the first time.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara metropolis had extended financial support of Rs 1.5 million to the NA for the clean mountain campaign. NA has conducted 'Clean Mountain Campaign-2023' in Mount Annapurna, Sagarmatha, Lhotse and Barunche peaks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 8,000-merter high Dhaualagiri and Manaslu mountains located in Gandaki province were cleaned earlier. The NA has initiated the campaign realizing the waste dumped in the mountain caused environmental imbalance and imparted a wrong message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA that started the campaign since 2019 had extracted 7,157 kilograms biodegradable waste from the Mount Everest, Lhotse, Manaslu and Kanchanjunga peaks last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-10', 'modified' => '2023-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '17544', 'image' => '20230510115148_Nepalisena-1.JPG', 'article_date' => '2023-05-10 11:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17810', 'article_category_id' => '1', 'title' => 'Prime Life, Union Life, and Gurans Life Insurance Begin Joint Transactions ', 'sub_title' => '', 'summary' => 'Prime Life, Union Life, and Gurans Life Insurance have started their integrated transaction from Baishakh 26, as the biggest merger in the life insurance sector. ', 'content' => '<p><span style="font-size:18px">May 10: Prime Life, Union Life, and Gurans Life Insurance have started their integrated transaction from Baishakh 26, as the biggest merger in the life insurance sector. </span></p> <p><span style="font-size:18px">The three companies have merged and started operations under the name "Himalayan Life Insurance”. These companies had reached an initial agreement for the merger on Baisakh 29, last year, and completed the merger process within a year of the initial agreement.</span></p> <p><span style="font-size:18px">After the merger, the central office of the company is located at the central office of Prime Life, which is located in Manakamana Marg, Naxal, Kathmandu, according to the latest arrangement. </span></p> <p><span style="font-size:18px">According to the latest arrangement made by Insurance Authority of Nepal, the life insurance company has to maintain Rs. 5 billion and the non-life insurance company has to maintain Rs. 2.50 billion in paid-up capital. Following the merger, the paid-up capital of the three companies has reached Rs. 7.72 billion.</span></p> <p><span style="font-size:18px">Prime Life has proposed to distribute 13 percent bonus shares from the profit of fiscal year 2077/78 BS, which was approved by the annual general meeting held on Poush 24, 2079 BS. After the bonus, Prime Life's paid-up capital has reached Rs. 3.14 billion. </span></p> <p><span style="font-size:18px">Similarly, Union Life has proposed to distribute 8.97 percent bonus shares this year, which was approved by the annual general meeting held on Magh 26, 2079. After the bonus, the paid-up capital of the Union Life Insurance has reached NPR 2.34 billion. </span></p> <p><span style="font-size:18px">Gurans Life Insurance, however, has yet to announce the dividend this year. The paid-up capital of the Gurans Life Insurance is NPR 2.23 billion. </span></p> <p><span style="font-size:18px">After the merger, the former chairman of Union Life Insurance, Sulabh Agrawal, has become the chairman of the board of directors of the merged company, and the chief executive officer of Union Life Insurance, Manoj Kumar Lalkarna, has been appointed the Chief Executive Officer of the merged company. </span></p> <p><span style="font-size:18px">The former chief executive officer of Gurans Life, Bipin Karn, and the chief executive officer of Prime Life Insurance, Nirmal Dahal, have agreed to become senior deputy chief executives of the merged entity. </span></p> ', 'published' => true, 'created' => '2023-05-10', 'modified' => '2023-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '17543', 'image' => '20230510061429_collage (4) (1).jpg', 'article_date' => '2023-05-10 06:09:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17809', 'article_category_id' => '1', 'title' => 'Government Collects Royalties Worth Over Rs 740 Million from Expedition Permits this Spring ', 'sub_title' => '', 'summary' => 'May 9: The spring season is favourable for mountain climbing in Nepal. During this season, the nation welcomes a noticeable number of aspiring climbers from across the globe for expeditions to Mount Everest and other various peaks. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 9: The spring season is favourable for mountain climbing in Nepal. During this season, the nation welcomes a noticeable number of aspiring climbers from across the globe for expeditions to Mount Everest and other various peaks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">People from 80 countries including Nepal took permissions from the Department of Tourism for climbing Nepal's peaks including Mt Everest during this spring season. Among them, citizens from 65 countries acquired permits for Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mountaineering Section of the department said that revenue of over Rs 740 million has been collected so far from the expedition permit fees in this spring. The permission for Mt Everest alone contributed Rs 650 million followed by Rs 28.3 million from Lhotse and Rs 13.6 from Makalu expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section Officer Bigyan Koirala said that the permits issued for climbing Everest were the highest ever and the revenue collection has also increased. Nepal is home to eight peaks of above 8,000 meters in the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Koirala said 467 people of 44 expedition teams obtained permission for climbing Mt Everest as of May 8. This figure is likely to go up slightly as the department expects a few more permits to be issued by Wednesday. Almost all aspiring climbers have already arrived. They are in the Everest Base Camp and Camp 2 waiting for favourable conditions to set out for their journey to the peak of Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Icefall doctors have already fixed a route to Camp 4 of Everest. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17542', 'image' => '20230509060445_1683182194.tourist.jpeg', 'article_date' => '2023-05-09 18:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17808', 'article_category_id' => '1', 'title' => 'Why is the Fourth Largest Party in Parliament against New Stock Exchange?', 'sub_title' => '', 'summary' => 'May 9: Rastriya Swatantra Party (RSP), the fourth largest party in parliament, stands against the new stock exchange platform. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Rastriya Swatantra Party (RSP), the fourth largest party in parliament, stands against the new stock exchange platform. Although the other parties in the federal parliament did not oppose it, only RSP stood against this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The party's lawmakers are arguing that when the new stock exchange comes into operation, the capital market of Nepal will be under the grip of certain groups. They have been arguing that the license distribution process should be stopped immediately, saying that there is a big corruption in granting license for a new stock exchange.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Securities Board of Nepal (SEBON) has said that an evaluation committee has been formed under the coordination of Joint Secretary at the Ministry of Law, Phanindra Gautam and the necessary steps for the distribution of licenses for the new stock exchange have been taken. According to a member of the evaluation committee, the process has reached its final stage.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Himalayan Stock Exchange, National Stock Exchange and Annapurna Stock Exchange have applied for the license of a new stock exchange with the board. But the RSP MPs have been putting pressure on the government agencies to stop the process immediately saying that there is financial manipulation in the license distribution process of the new stock exchange.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the zero hour of the House of Representatives meeting on April 28, RSP lawmaker Sobita Gautam said that the process of granting licenses to new stock exchanges should be stopped immediately. Referring to the fact that the government-owned Nepal Stock Exchange (NEPSE) is contributing about Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion as dividend to the government every year, she accused that the NEPSE is being weakened intentionally to divert its business to the new stock exchange. She said that the preparations for giving license to the new stock exchange should be stopped immediately to avoid the capital market of Nepal coming under the control of certain groups.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In response to the question raised by New Business Age regarding why is the RSP opposed to the new stock exchange, Biraj Bhakta Shrestha, the deputy parliamentary party leader of the RSP and head of the currency and capital market department of the party, claimed that they are bringing a new exchange for the benefit of some limited people without conducting a scientific study of the need for a new stock exchange in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“In addition to the clear intentions, there are also signs of corruption. Therefore, even if RSP is alone against such mala fide intentions, it will always stand in opposition and will continue to protest such move," he said. Apart from this, RSP is also serious about protecting investors' investments, he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist and former chairman of the Securities Board of Nepal Rewat Bahadur Karki says that when the new exchange comes into operation, NEPSE which is currently operating will be stronger rather than weaker.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“When the private sector banks came into operation, there was improvement in the performance of state-owned banks. Similarly, when a private sector telecom company starts operating, the government’s telecom company improves, when a new stock exchange comes into operation, NEPSE will improve rather than weaken,” he argued.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that NEPSE has not been able to bring new tools to the market due to lack of competition. He said that when a new stock exchange comes into operation, there will be healthy competition, new tools and new technologies will be introduced in the market, which will help in the development and expansion of the market. He believes that this will also benefit the investors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Karki says, "The market is currently dominated by limited individuals. Since both NEPSE and the board are owned by the government, the board has not been able to regulate the secondary market properly. Therefore, when a new exchange comes into operation, the regulatory capacity of the board will also expand.”</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17541', 'image' => '20230509043400_aaaa.jpg', 'article_date' => '2023-05-09 16:31:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17807', 'article_category_id' => '1', 'title' => 'NEPSE Witnesses Gains of 10.66 Points', 'sub_title' => '', 'summary' => 'After thirteen days of decline, the Nepal Stock Exchange (NEPSE) Index saw a rise of 0.58% on Tuesday, the third trading day of the week. The NEPSE Index gained 10.66 points, closing at 1844.36 points today.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: After thirteen days of decline, the Nepal Stock Exchange (NEPSE) Index saw a rise of 0.58% on Tuesday, the third trading day of the week. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NEPSE Index gained 10.66 points, closing at 1844.36 points today. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 269 scrips exchanged hands via 20,776 transactions, amounting to a turnover of NPR over 77.47 crores. The turnover amount is less than yesterday’s turnover amount of NPR 82.42 crores. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Himal Dolakha Hydropower Company(HDHPC) had the highest turnover of NPR 6.96 crores and closed at a market price of NPR 189.50 per share. HDHPC shares traded the most in the NEPSE. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People’s Power Limited (PPL) gained the highest 6.47%. Conversely, Unique Nepal Laghubitta Bittiya Sanstha limited(UNLB)lost the highest, falling by 8.68%. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All thirteen sector indices closed in the green zone, with Hotels and Tourism experiencing the highest gains of 1.94%, while Trading Index saw a marginal gain of 0.12%. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Sensitive Index made gains of 0.53%, while Float Index and Sensitive Float Index 0.57% and 0.48% respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts on the stock market and investors attribute the positive impact on NEPSE to the Nepal Rastra Bank's new directive to change the interest rate on loans on a monthly basis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Finance Minister Dr Prakash Sharan Mahat's remarks in the National Assembly to lower interest rates on loans to spur economic growth may have helped to break NEPSE's downward trend.</span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17540', 'image' => '20230509040633_collage (2).jpg', 'article_date' => '2023-05-09 16:03:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17806', 'article_category_id' => '1', 'title' => 'Eight Substations Being Built to Improve Electricity Distribution System in Kathmandu Valley', 'sub_title' => '', 'summary' => 'May 9: Nepal Electricity Authority (NEA) is constructing eight high-capacity substations to improve the electricity transmission and distribution system in Kathmandu Valley. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Nepal Electricity Authority (NEA) is constructing eight high-capacity substations to improve the electricity transmission and distribution system in Kathmandu Valley. Substations of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">KV, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">KV and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV capacities are under construction in the valley.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to address the potential electricity demand by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the authority has set a deadline and advanced the process of construction of transmission and distribution infrastructure in major areas of the Kathmandu Valley in a phased manner.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the highest demand for electricity in Kathmandu Valley is projected to reach </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> megawatts, and the authority has advanced the construction process of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> more new substations. Land acquisition process for construction of the substations has been started. A survey is being conducted to construct a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV ring around the outer perimeter of Kathmandu Valley with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Substations are under construction at Lapsiphedi, Matatirtha, Chobhar, Futung, Teku, Mulpani and Thimi and Changunarayan in Bhaktapur. Teku and Changunarayan substations are in the final stages of construction. Both the substations will come into operation by next June.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kulman Ghising, executive director of the authority, said that work is underway to complete the substation projects under construction as soon as possible to meet the increasing demand for electricity in the Kathmandu Valley. It is also aimed at making the supply reliable, he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ghising, during an inspection visit to the Teku, Futung and Changunarayan substations, instructed the project management and construction workers to complete the construction of the substations within the stipulated time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the winter of this year, the demand for electricity in Kathmandu Valley did not increase so much, due to which it became easier to manage the electricity supply. Considering the winter of next year, the construction of the substation should be completed before that," said Executive Director Ghising. After the construction of Teku and Futung substations is completed, the management of electricity demand and supply in Kathmandu will be much easier.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Teku-based </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substation is being strengthened and a new </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substation is being constructed at Futung. Two power transformers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">45/45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA capacity will be placed in both the substations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to facilitate the electricity supply in the central part of Kathmandu, nine new feeders will be removed from Teku substation for local electricity supply.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To make the power supply of Kathmandu Valley reliable and to ensure its quality, projects such as construction of new substations, automation of existing substations, laying underground electric wires, adding and strengthening of new feeders and transformers are being implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Improvement of transmission and distribution system is being done with the investment of Nepal government and the authority, concessional loan from Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The process of acquiring </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ropanis of land required for the construction of substation on the land of Himal Cement near the Chobhar Dry Port is progressing. A </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission line has been built from Matatirtha to Chobhar.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A substation will be built in Chobhar and a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV underground line will be constructed and taken to Lagankhel substation in Lalitpur through the ring road. Lagankhel substation is being strengthened and made </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV. Then in the coming days, the line will be taken underground from there to Chapagaon and Harsiddhi. In Lalitpur area, electricity is being supplied from Suchatar-Patan-Vaneshwar </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV line. This line is already 'overloaded'.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Construction of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220/132/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substations in Lapsiphedi has not been started yet due to local obstruction. Lapsiphedi substation is being built to distribute the electricity produced by the hydroelectric projects built in the Tamakoshi and Sunkoshi river catchment areas in the Kathmandu valley. Locals are obstructing the construction of about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km transmission line from Lapsiphedi to Changunarayan substation.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17539', 'image' => '20230509040046_1683532052.bijuli.jpg', 'article_date' => '2023-05-09 15:59:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17805', 'article_category_id' => '1', 'title' => 'NRB Makes Arrangement to Change Interest on Loans Every Month', 'sub_title' => '', 'summary' => 'May 9: Nepal Rastra Bank (NRB) has removed the provision that allows banks to change the interest rate on loans only once in a quarter. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Nepal Rastra Bank (NRB) has removed the provision that allows banks to change the interest rate on loans only once in a quarter. Along with this decision, banks and financial institutions will now have to change the interest on loans every month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On Monday, Nepal Rastra Bank issued instructions to banks and financial institutions of A, B and C categories to change the interest on loans every month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has made new arrangement to change the interest on loans in a monthly basis according to the base rate of the last three months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While changing the interest on loans, it has to be changed on a monthly basis considering the increase or decrease in the average base rate of the last three months," reads the instructions issued 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:"Arial","sans-serif"">Prior to this, there was an arrangement for changing the interest rate on loans on a quarterly basis.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17538', 'image' => '20230509025612_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-05-09 14:55:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17804', 'article_category_id' => '1', 'title' => 'Hulas Aluminium Organizes Meeting to Promote Innovative Steel App with Attractive Prizes', 'sub_title' => '', 'summary' => 'Hulas Aluminium, a renowned brand in Nepal, held an informative meeting for fabricators to promote their innovative new app, the "Hulas Steel App."', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: Hulas Aluminium, a renowned brand in Nepal, held an informative meeting for fabricators to promote their innovative new app, the "Hulas Steel App" on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The event took place at Diyalo Foodland in Chitwan, where Hulas Steel had previously launched the app several weeks ago. The program was designed to provide fabricators with more information about the app and its features.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hulas Steel App was launched with the slogan "Hulas Steel App in Mobile, Travel to Europe in Gift," offering special gifts such as a trip to Europe, six tola gold, Pulsar bikes, and other attractive prizes for fabricators.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Customers who download the app on their mobile phones can purchase products and pay for them by loading the bill into the app and receiving points in return. The more points accumulated, the more gifts the customer can receive, as per the company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, Hulas Steel, with over forty years of proud history, informed fabricators about their new products, and over 150 fabricators attended the event.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hulas Steel App offers a convenient and innovative way for customers to purchase steel products while receiving rewards for their loyalty.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17537', 'image' => '20230509021823_collage.jpg', 'article_date' => '2023-05-09 14:15:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17803', 'article_category_id' => '1', 'title' => 'Case Registered against Gyanendra Lal Pradhan', 'sub_title' => '', 'summary' => 'May 9: The Securities Board of Nepal (SEBON) has registered a case against Gyanendra Lal Pradhan, the then-chairman of Nepal Hydro Developers Limited, in the Kathmandu District Court. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 9: The Securities Board of Nepal (SEBON) has registered a case against Gyanendra Lal Pradhan, the then-chairman of Nepal Hydro Developers Limited, in the Kathmandu District Court. A case was registered in the Kathmandu District Court on May 8, claiming that Pradhan had traded in securities against the law.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board’s spokesperson Mukti Shrestha confirmed that a case has been registered against Pradhan in the Kathmandu District Court demanding action against him as per Section 98 of the Securities Act, 2063. According to the board, Pradhan sold the shares in the secondary market through his wife, contrary to the rule that forbids him from transferring shares in any way during his tenure as the chairman until a year after leaving the position.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Even if Pradhan himself did not sell his shares, doing it through the help of his family is not justifiable," said Shrestha. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Section 98 of the Securities Act, 2063, considers one to be a fraud if someone acts to deceive someone. Shrestha said that since it became clear that Pradhan deceived the regulatory body, the securities market and other stakeholders, he has to go through the legal process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, the Board of Directors’ meeting held on April 1 had decided to take action against Pradhan, bar him from becoming a director of any listed company for 10 years, along with a cash fine. According to the provisions of the Securities Act, Pradhan has been fined Rs 75,000 in cash, and the board has taken action so that he cannot be reinstated as a director, general manager or similar position of any public limited company or organization for 10 years.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the provisions of the Securities Registration and Issuance Regulations, the directors, executive heads and other officials of listed companies are not allowed to buy and sell the shares of such companies or the company they are involved in by themselves or through their family members for a year after being in the office or after leaving the office. However, after receiving a complaint that Pradhan traded shares against the said provision, the board started an investigation from the last winter.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The investigation report has also been submitted to the Public Prosecutor's Office. As there is sufficient basis and evidence for the charges against Pradhan, the case has been registered in the District Court with the support of the Public Prosecutor's Office.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board has been investigating the complaint of illegal securities trading with special priority. Earlier, the board had decided to take action against the then chairman of Ridi Power Company, Guru Prasad Neupane, who was accused of illegal securities trading, with a cash fine.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Neupane was also punished by the board with a fine of Rs 75,000 and barred from serving as a director, general manager or similar position of any listed company for 10 years. The board had registered a case against Neupane in the Kathmandu District Court on March 22.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17536', 'image' => '20230509014954_1683604470.collage (2).jpg', 'article_date' => '2023-05-09 13:49:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17802', 'article_category_id' => '1', 'title' => 'MPs Suggest Government not to Announce Ceremonial Budget', 'sub_title' => '', 'summary' => 'May 9: Parliamentarians have suggested the government not to bring the traditional-style ritualistic budget when the economy is in crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: Parliamentarians have suggested the government not to bring the traditional-style ritualistic budget when the economy is in crisis. During the deliberations on the principles and priorities of the Appropriation Bill 2080 at the House of Representatives meeting on Monday, the lawmakers said that a conservative budget does not make sense when the economy is in crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Swatantra Party’s MP and economist Dr Swarnim Wagle said that the principles and priorities laid down in the Appropriation Bill 2080 by Finance Minister Prakash Sharan Mahat are ritualistic. He argued that it is not appropriate to talk about economic stability when the economy is troubled and has lost its rhythm.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The current economic growth rate is only around 2 percent, which is much lower than the target of 8 percent for the current fiscal year. With only two months left in the fiscal year, achieving this target seems highly unlikely,” said Wagle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Wagle, the government has collected Rs 733 billion in revenue and spent Rs 1,116 billion as of Sunday night and it is not easy to bridge such a big gap between revenue collection and expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He added that there is a big gap between credit investment and economic growth in the financial sector at present. According to him, the loan is increasing by 20-22 percent annually and it does not seem to match the speed of the economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MP Wagle urged the government to re-evaluate the issues that need to be urgently done through the budget to fill the gap between import and export of goods and services and between production and consumption. According to him, the government needs to adopt a different approach to address this issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Wagle also pointed out the need to move from quantitative development to qualitative development. According to him, education, health and drinking water are among the principles and priorities of the government, but there has not been any significant change in these areas in the last 32 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, emphasis should now be placed on education in schools and quality services in hospitals rather than the number of roads and schools. He said that malnutrition is rife in Nepal, adding that malnutrition has afflicted one third of the entire generation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Wagle says that it is wrong for the finance minister to say that there is no place in the financial policy and to go ahead with the monetary policy tool. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali Congress MP and former Finance Minister Gyanendra Bahadur Karki suggested that the main objective of the upcoming budget should be to focus on production and employment growth. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Due to the contraction in resources, we do not have the facility to make a budget on a whim," he said, adding, “In the current situation, it is not a populist budget but a realistic one that is necessary.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the world economy is having some impact on Nepal's economy, Karki said that the budget should come with the determination to increase employment and develop a sustainable and strong economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Karki welcomed and supported Mahat's determination to achieve economic growth, increase employment and develop a sustainable and strong economy by incorporating those issues in the principles and priorities of the Appropriation Bill, 2080. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (UML) MP and former finance minister Bishnu Prasad Paudel pointed out to the fact that there is a ‘slowdown’ in the economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The government should present facts about the current situation and the problems faced by the economy. However, I found that the government is oblivious to the problems and challenges of the economy," said Paudel. "The government is unaware about where the problem is and what the challenges are."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the data released by the National Statistics Office shows that the Nepalese economy is in recession. Paudel said that the economic growth rate of the second quarter of the current fiscal year is negative and this confirms recession. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This is what the statistics have said. Do we cover up or admit that the economy is in recession? We is this situation. Considering that the economy is now in recession, the budget should come with the determination to face the challenges. However, the government hasn’t accepted it," said former Finance Minister Paudel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the private sector is disappointed and the public finances are being wasted. According to Paudel, revenue collection has increased by only 50 percent in the current year compared to the target and decreased by 13 percent compared to last year, but the expenses have increased by 19 percent. Paudel said that this is the reason why there is a deficit of more than Rs 200 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Swatantra Party’s MP Ravi Lamichhane said that the country's economy is now in an extraordinary situation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The finance minister presented a document that is not different from the previous years, filled with 'will be done' as in previous years." This document has come as a regular ritual to be presented by changing some words and sentences.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17535', 'image' => '20230509120928_NP_KTM-0D3A7296.jpg', 'article_date' => '2023-05-09 12:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17801', 'article_category_id' => '1', 'title' => 'Upper House Lawmakers Show Concerns Over 'Vague' Words in Budget', 'sub_title' => '', 'summary' => 'May 9: Lawmakers have raised concerns over the use of 'vague' words in the government’s annual policies and programmes and in the budget. ', '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 9: Lawmakers have raised concerns over the use of 'vague' words in the government’s annual policies and programmes and in the budget. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Each budget has ambigious sentences like 'shall be implemented', 'shall be prioritized', 'shall be stressed' and the list goes on, according to lawmakers who were airing their views in a meeting of the National Assembly (NA), the Upper House of the Federal Parliament, on Monday. They said such phrasing makes the government’s 'priorities' further unclear, raising doubts over their enforcement. </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 government has been urged to not make the budget a compilation of such vague words. </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"">Narayan Dhakal demanded the government incorporate such issues which are implementable in the upcoming budget. Expressing his concern over the weak implementation of the budget, he urged the government to make the budget a substantive and a real document. </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"">He was of the view of minimizing the current expenditure and finding out reasons for the dismal capital expenditure. </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"">Likewise, Sharada Devi Bhatta demanded for budget allocation for the establishment of a chemical fertilizer factory within the country. </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"">Narayan Dutta Mishra sought the promotion of domestic-manufactured electric vehicles, sufficient supplies of chemical fertilizer and adequate budget to the education and health sectors while Madan Kumari Shah (Garima) drew the government's attention towards the need of self-sufficient agriculture. She urged the government to further promote the energy sector to reduce a huge budget being spent on energy imports. </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"">Meanwhile, lawmakers speaking in the meeting of the Upper House of the Federal Parliament also expressed happiness over the government determining the priority of the next fiscal year's budget by focusing on economic development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">They called on the government to focus on job creation, production growth, agriculture, herbs, forests, education and health sectors in the next fiscal year's budget. They also urged the government to address the problems encountered in development and construction works, especially those related to contracts and bidding.</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"">Some lawmakers called for allocating the budget to the provinces based on the population and initiating measures to boost up the economy through tourism promotion, hydroelectricity development and industrialization.</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"">Lawmakers Maya Prasad Sharma, Dil Kumari Thapa Rawal, Kamala Panta, Singha Bahadur Bishwakarma, Mrigendra Kumar Singh Yadav and Shekhar Kumar Singh made such demands.</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"">Speaking at the outset of the meeting prior to this, CPN (UML) lawmaker Bhairab Sundar Shrestha drew the attention of the House saying a lawmaker had made an 'indecent statement' in the meeting on Sunday and demanded that the statement be removed from the record.</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"">National Assembly Chairman Ganesh Prasad Timilsina said that he will take a decision on this matter only after listening to the statement.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17534', 'image' => '20230509110705_Parliament RSS 800.jpg', 'article_date' => '2023-05-09 11:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17800', 'article_category_id' => '1', 'title' => 'Chachan Group Opens Water Park in Bara-Parsa Corridor', 'sub_title' => '', 'summary' => 'The Chachan Group has opened the Thrill Water Park at Bara-Parsa Corridor, as part of its increased investment in the entertainment industry.', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 9: The Chachan Group has opened the Thrill Water Park at Bara-Parsa Corridor, as part of its increased investment in the entertainment industry. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The industrial and trade group's director, Nikhil Chachan, revealed that the water park is the first of its kind in the Madhes province and is targeting tourists from Bara, Parsa, Rautahat, Makawanpur, and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The water park, which was constructed with an investment of NPR 70 million, is suitable for all age groups.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In addition to the water park, the Chachan Group is also planning to launch an off-road track for off-road driving enthusiasts on a two bigaha land adjacent to the water park, within the next one and a half months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This move comes after the group opened a thrill factory at Bara's Chainpur six months ago. Notably, the water park has been set up on the premises of the thrill factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Thrill Water Park is expected to be a popular attraction among locals and tourists alike, further boosting the region's tourism sector.</span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17533', 'image' => '20230509061704_collage (6).jpg', 'article_date' => '2023-05-09 06:15:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17799', 'article_category_id' => '1', 'title' => 'Government’s Efforts to Improve Economy Inadequate: Dr Swarnim Wagle', 'sub_title' => '', 'summary' => 'Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year, 2023/24.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 9: Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year, 2023/24. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle stated that these efforts were not enough and that the economy needs drastic measures rather than ritualistic ones, said Dr Wagle during a meeting of the House of Representatives on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite accommodating many things, the principles and priorities outlined in the bill have not met the expectations of the people, according to Dr Wagle. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He commented that it would be inappropriate to talk about economic growth and prosperity when the country's economy has lost its pace. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The current economic growth rate is only around 2 percent, which is much lower than the target of 8 percent for the current fiscal year. With only two months left in the fiscal year, achieving this target seems highly unlikely.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle also raised concerns about the increasing gap between expenditures and incomes, which is a major challenge in reducing the budget deficit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle highlighted the significant gap between loan investments and economic growth, with loan rates regularly increasing to 20 or 22 percent. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Despite this, it seems that loan investments have not significantly contributed to economic growth, he added. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17532', 'image' => '20230509054757_collage (5).jpg', 'article_date' => '2023-05-09 05:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17798', 'article_category_id' => '1', 'title' => 'HoR starts Deliberations on Principles and Priorities of Appropriation Bill ', 'sub_title' => '', 'summary' => 'May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers on Monday put forth their views on the proposal during the deliberation on the principles and priorities of the bill (except taxes) put forward by Finance Minister Dr Prakash Sharan Mahat in the first meeting of the Budget Session of the federal parliament on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deliberation will run for three days. On the occasion, former finance ministers Gyanendra Bahadur Karki and Bishnu Prasad Paudel put their views on the existing situation of the country's economy, possible challenges and next strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed the need for prioritising the programmes that would create job opportunities and contribute to sustainable economic development by taking the economy on the road to improvement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also a Nepali Congress lawmaker, suggested that the next budget should mainly focus on production and employment. "We do not have the luxury of making the budget excitedly due to a shrinkage of income sources. In this present situation, a realistic budget is needed, but not a populist one," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He welcomed and supported Minister Dr Mahat for his commitments to get economic growths, increments in job opportunities and development of sustainable economy through the principles and priorities of the Bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Paudel, a CPN (UML) lawmaker, suggested that the budget should prioritises the goals of taking the country on the path to economic prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also warned of possible economic recession in case of failure to take effective initiatives to improve the negative indicators of the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The budget should also accommodate the things keeping in view of the current economic challenges,” he said. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17531', 'image' => '20230508055057_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 17:50:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17797', 'article_category_id' => '1', 'title' => 'NEPSE's Fall Continues Unabated', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">May 8: The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">A total of 270 scrips exchanged hands via 25,588 transactions, amounting to a turnover of Rs. 82.42 crores. This is a significant increase from the previous day's turnover of Rs. 60.81 crores. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover of Rs. 3.78 crores and closed at a market price of Rs. 398 per share. The shares of HDHPC traded the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) bucked the trend and gained the highest 8.05% for the day. Conversely, Eastern Hydropower Limited (EHPL) lost the most, falling by 9.99% today. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">All 13 sector indices closed in the red zone, with "Hotel and Tourism" experiencing the highest loss of 2.44%, while "Mutual Fund" saw a marginal loss of 0.06%. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">The Sensitive Index lost 0.68%, while the Float Index and Sensitive Float Index fell by 0.94% and 0.72%, respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Expert investors attribute the continuous decline in NEPSE to the ongoing financial crisis, lack of liquidity, high interest rates on credit, and low economic growth. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Investors are urging for policy-level changes that can inject confidence into the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">They are hopeful that the Nepal Rastra Bank will remove the cap of NPR 1200 million on margin lending and reduce the risk weightage on share loans from 150 to 100 in its quarterly review of monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">If these policy-level changes are implemented, they are expected to have a positive impact on the stock market, according to expert investors.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17530', 'image' => '20230508043218_collage (3).jpg', 'article_date' => '2023-05-08 16:29:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 10: The Nepalese Army has collected as many as 3,600 kilograms of solid waste from Myagdi-based Annapurna I. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As part of the Clean Mountain Campaign spearheaded by the Nepalese Army, the waste matter was collected from Mt Annapurna I and its base camp. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 8,071-meter high Annapurna I lies in Annapurna Rural Municipality-4, Narchyang of Myagdi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Administrative Officer of Annapurna Rural Municipality, Amrit Subedi said the NA's mountain cleaning team had started cleaning up Mt Annapurna on April 10 and returned on May 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team comprising 10 NA personnel and 13 from Peak Promotion Travel Agency had collected garbage from the mountain and the base camp for more than a month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NA mayor Gajendra Deuba had led the clean-up campaign. The army team along with Captain Bhim Bahadur Bhujel had reached atop the 8,091 meter high Annapurna peak and collected garbage there as well.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The waste collected include 1,200-kg biodegradable and 2,400-kg non-biodegradable waste, the team shared. The biodegradable waste has been managed at Bhusaket in the presence of the representatives of Annapurna Youth Club in Narchyang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The non-biodegradable waste was taken to Dana of Myagdi via a helicopter belonging to Prabhu Air. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The waste airlifted to Dana from the Annapurna Base Camp was then sent to Kathmandu-based NA headquarters in a truck, shared Indra Siingh Sherchan, a local of Dana. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2,400-kg wastes including plastics, tins, iron and lead were sent to Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The clean-up was done in the Annapurna mountain and its base camp after 72 years since mountaineering was permitted, said Chairperson of Village Conservation Area Management Committee, Narchyang, Tej Gurung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The waste was increasingly piling up in the mountain and base camp with the rise in the number of mountaineers and trekkers,” he said, adding, “The NA team cleaned up the Annapurna mountain for the first time.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara metropolis had extended financial support of Rs 1.5 million to the NA for the clean mountain campaign. NA has conducted 'Clean Mountain Campaign-2023' in Mount Annapurna, Sagarmatha, Lhotse and Barunche peaks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 8,000-merter high Dhaualagiri and Manaslu mountains located in Gandaki province were cleaned earlier. The NA has initiated the campaign realizing the waste dumped in the mountain caused environmental imbalance and imparted a wrong message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA that started the campaign since 2019 had extracted 7,157 kilograms biodegradable waste from the Mount Everest, Lhotse, Manaslu and Kanchanjunga peaks last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-10', 'modified' => '2023-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '17544', 'image' => '20230510115148_Nepalisena-1.JPG', 'article_date' => '2023-05-10 11:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17810', 'article_category_id' => '1', 'title' => 'Prime Life, Union Life, and Gurans Life Insurance Begin Joint Transactions ', 'sub_title' => '', 'summary' => 'Prime Life, Union Life, and Gurans Life Insurance have started their integrated transaction from Baishakh 26, as the biggest merger in the life insurance sector. ', 'content' => '<p><span style="font-size:18px">May 10: Prime Life, Union Life, and Gurans Life Insurance have started their integrated transaction from Baishakh 26, as the biggest merger in the life insurance sector. </span></p> <p><span style="font-size:18px">The three companies have merged and started operations under the name "Himalayan Life Insurance”. These companies had reached an initial agreement for the merger on Baisakh 29, last year, and completed the merger process within a year of the initial agreement.</span></p> <p><span style="font-size:18px">After the merger, the central office of the company is located at the central office of Prime Life, which is located in Manakamana Marg, Naxal, Kathmandu, according to the latest arrangement. </span></p> <p><span style="font-size:18px">According to the latest arrangement made by Insurance Authority of Nepal, the life insurance company has to maintain Rs. 5 billion and the non-life insurance company has to maintain Rs. 2.50 billion in paid-up capital. Following the merger, the paid-up capital of the three companies has reached Rs. 7.72 billion.</span></p> <p><span style="font-size:18px">Prime Life has proposed to distribute 13 percent bonus shares from the profit of fiscal year 2077/78 BS, which was approved by the annual general meeting held on Poush 24, 2079 BS. After the bonus, Prime Life's paid-up capital has reached Rs. 3.14 billion. </span></p> <p><span style="font-size:18px">Similarly, Union Life has proposed to distribute 8.97 percent bonus shares this year, which was approved by the annual general meeting held on Magh 26, 2079. After the bonus, the paid-up capital of the Union Life Insurance has reached NPR 2.34 billion. </span></p> <p><span style="font-size:18px">Gurans Life Insurance, however, has yet to announce the dividend this year. The paid-up capital of the Gurans Life Insurance is NPR 2.23 billion. </span></p> <p><span style="font-size:18px">After the merger, the former chairman of Union Life Insurance, Sulabh Agrawal, has become the chairman of the board of directors of the merged company, and the chief executive officer of Union Life Insurance, Manoj Kumar Lalkarna, has been appointed the Chief Executive Officer of the merged company. </span></p> <p><span style="font-size:18px">The former chief executive officer of Gurans Life, Bipin Karn, and the chief executive officer of Prime Life Insurance, Nirmal Dahal, have agreed to become senior deputy chief executives of the merged entity. </span></p> ', 'published' => true, 'created' => '2023-05-10', 'modified' => '2023-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '17543', 'image' => '20230510061429_collage (4) (1).jpg', 'article_date' => '2023-05-10 06:09:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17809', 'article_category_id' => '1', 'title' => 'Government Collects Royalties Worth Over Rs 740 Million from Expedition Permits this Spring ', 'sub_title' => '', 'summary' => 'May 9: The spring season is favourable for mountain climbing in Nepal. During this season, the nation welcomes a noticeable number of aspiring climbers from across the globe for expeditions to Mount Everest and other various peaks. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 9: The spring season is favourable for mountain climbing in Nepal. During this season, the nation welcomes a noticeable number of aspiring climbers from across the globe for expeditions to Mount Everest and other various peaks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">People from 80 countries including Nepal took permissions from the Department of Tourism for climbing Nepal's peaks including Mt Everest during this spring season. Among them, citizens from 65 countries acquired permits for Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mountaineering Section of the department said that revenue of over Rs 740 million has been collected so far from the expedition permit fees in this spring. The permission for Mt Everest alone contributed Rs 650 million followed by Rs 28.3 million from Lhotse and Rs 13.6 from Makalu expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section Officer Bigyan Koirala said that the permits issued for climbing Everest were the highest ever and the revenue collection has also increased. Nepal is home to eight peaks of above 8,000 meters in the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Koirala said 467 people of 44 expedition teams obtained permission for climbing Mt Everest as of May 8. This figure is likely to go up slightly as the department expects a few more permits to be issued by Wednesday. Almost all aspiring climbers have already arrived. They are in the Everest Base Camp and Camp 2 waiting for favourable conditions to set out for their journey to the peak of Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Icefall doctors have already fixed a route to Camp 4 of Everest. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17542', 'image' => '20230509060445_1683182194.tourist.jpeg', 'article_date' => '2023-05-09 18:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17808', 'article_category_id' => '1', 'title' => 'Why is the Fourth Largest Party in Parliament against New Stock Exchange?', 'sub_title' => '', 'summary' => 'May 9: Rastriya Swatantra Party (RSP), the fourth largest party in parliament, stands against the new stock exchange platform. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Rastriya Swatantra Party (RSP), the fourth largest party in parliament, stands against the new stock exchange platform. Although the other parties in the federal parliament did not oppose it, only RSP stood against this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The party's lawmakers are arguing that when the new stock exchange comes into operation, the capital market of Nepal will be under the grip of certain groups. They have been arguing that the license distribution process should be stopped immediately, saying that there is a big corruption in granting license for a new stock exchange.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Securities Board of Nepal (SEBON) has said that an evaluation committee has been formed under the coordination of Joint Secretary at the Ministry of Law, Phanindra Gautam and the necessary steps for the distribution of licenses for the new stock exchange have been taken. According to a member of the evaluation committee, the process has reached its final stage.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Himalayan Stock Exchange, National Stock Exchange and Annapurna Stock Exchange have applied for the license of a new stock exchange with the board. But the RSP MPs have been putting pressure on the government agencies to stop the process immediately saying that there is financial manipulation in the license distribution process of the new stock exchange.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the zero hour of the House of Representatives meeting on April 28, RSP lawmaker Sobita Gautam said that the process of granting licenses to new stock exchanges should be stopped immediately. Referring to the fact that the government-owned Nepal Stock Exchange (NEPSE) is contributing about Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion as dividend to the government every year, she accused that the NEPSE is being weakened intentionally to divert its business to the new stock exchange. She said that the preparations for giving license to the new stock exchange should be stopped immediately to avoid the capital market of Nepal coming under the control of certain groups.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In response to the question raised by New Business Age regarding why is the RSP opposed to the new stock exchange, Biraj Bhakta Shrestha, the deputy parliamentary party leader of the RSP and head of the currency and capital market department of the party, claimed that they are bringing a new exchange for the benefit of some limited people without conducting a scientific study of the need for a new stock exchange in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“In addition to the clear intentions, there are also signs of corruption. Therefore, even if RSP is alone against such mala fide intentions, it will always stand in opposition and will continue to protest such move," he said. Apart from this, RSP is also serious about protecting investors' investments, he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist and former chairman of the Securities Board of Nepal Rewat Bahadur Karki says that when the new exchange comes into operation, NEPSE which is currently operating will be stronger rather than weaker.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“When the private sector banks came into operation, there was improvement in the performance of state-owned banks. Similarly, when a private sector telecom company starts operating, the government’s telecom company improves, when a new stock exchange comes into operation, NEPSE will improve rather than weaken,” he argued.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that NEPSE has not been able to bring new tools to the market due to lack of competition. He said that when a new stock exchange comes into operation, there will be healthy competition, new tools and new technologies will be introduced in the market, which will help in the development and expansion of the market. He believes that this will also benefit the investors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Karki says, "The market is currently dominated by limited individuals. Since both NEPSE and the board are owned by the government, the board has not been able to regulate the secondary market properly. Therefore, when a new exchange comes into operation, the regulatory capacity of the board will also expand.”</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17541', 'image' => '20230509043400_aaaa.jpg', 'article_date' => '2023-05-09 16:31:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17807', 'article_category_id' => '1', 'title' => 'NEPSE Witnesses Gains of 10.66 Points', 'sub_title' => '', 'summary' => 'After thirteen days of decline, the Nepal Stock Exchange (NEPSE) Index saw a rise of 0.58% on Tuesday, the third trading day of the week. The NEPSE Index gained 10.66 points, closing at 1844.36 points today.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: After thirteen days of decline, the Nepal Stock Exchange (NEPSE) Index saw a rise of 0.58% on Tuesday, the third trading day of the week. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NEPSE Index gained 10.66 points, closing at 1844.36 points today. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 269 scrips exchanged hands via 20,776 transactions, amounting to a turnover of NPR over 77.47 crores. The turnover amount is less than yesterday’s turnover amount of NPR 82.42 crores. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Himal Dolakha Hydropower Company(HDHPC) had the highest turnover of NPR 6.96 crores and closed at a market price of NPR 189.50 per share. HDHPC shares traded the most in the NEPSE. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People’s Power Limited (PPL) gained the highest 6.47%. Conversely, Unique Nepal Laghubitta Bittiya Sanstha limited(UNLB)lost the highest, falling by 8.68%. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All thirteen sector indices closed in the green zone, with Hotels and Tourism experiencing the highest gains of 1.94%, while Trading Index saw a marginal gain of 0.12%. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Sensitive Index made gains of 0.53%, while Float Index and Sensitive Float Index 0.57% and 0.48% respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts on the stock market and investors attribute the positive impact on NEPSE to the Nepal Rastra Bank's new directive to change the interest rate on loans on a monthly basis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Finance Minister Dr Prakash Sharan Mahat's remarks in the National Assembly to lower interest rates on loans to spur economic growth may have helped to break NEPSE's downward trend.</span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17540', 'image' => '20230509040633_collage (2).jpg', 'article_date' => '2023-05-09 16:03:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17806', 'article_category_id' => '1', 'title' => 'Eight Substations Being Built to Improve Electricity Distribution System in Kathmandu Valley', 'sub_title' => '', 'summary' => 'May 9: Nepal Electricity Authority (NEA) is constructing eight high-capacity substations to improve the electricity transmission and distribution system in Kathmandu Valley. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Nepal Electricity Authority (NEA) is constructing eight high-capacity substations to improve the electricity transmission and distribution system in Kathmandu Valley. Substations of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">KV, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">KV and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV capacities are under construction in the valley.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to address the potential electricity demand by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the authority has set a deadline and advanced the process of construction of transmission and distribution infrastructure in major areas of the Kathmandu Valley in a phased manner.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the highest demand for electricity in Kathmandu Valley is projected to reach </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> megawatts, and the authority has advanced the construction process of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> more new substations. Land acquisition process for construction of the substations has been started. A survey is being conducted to construct a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV ring around the outer perimeter of Kathmandu Valley with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Substations are under construction at Lapsiphedi, Matatirtha, Chobhar, Futung, Teku, Mulpani and Thimi and Changunarayan in Bhaktapur. Teku and Changunarayan substations are in the final stages of construction. Both the substations will come into operation by next June.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kulman Ghising, executive director of the authority, said that work is underway to complete the substation projects under construction as soon as possible to meet the increasing demand for electricity in the Kathmandu Valley. It is also aimed at making the supply reliable, he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ghising, during an inspection visit to the Teku, Futung and Changunarayan substations, instructed the project management and construction workers to complete the construction of the substations within the stipulated time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the winter of this year, the demand for electricity in Kathmandu Valley did not increase so much, due to which it became easier to manage the electricity supply. Considering the winter of next year, the construction of the substation should be completed before that," said Executive Director Ghising. After the construction of Teku and Futung substations is completed, the management of electricity demand and supply in Kathmandu will be much easier.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Teku-based </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substation is being strengthened and a new </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substation is being constructed at Futung. Two power transformers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">45/45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA capacity will be placed in both the substations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to facilitate the electricity supply in the central part of Kathmandu, nine new feeders will be removed from Teku substation for local electricity supply.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To make the power supply of Kathmandu Valley reliable and to ensure its quality, projects such as construction of new substations, automation of existing substations, laying underground electric wires, adding and strengthening of new feeders and transformers are being implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Improvement of transmission and distribution system is being done with the investment of Nepal government and the authority, concessional loan from Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The process of acquiring </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ropanis of land required for the construction of substation on the land of Himal Cement near the Chobhar Dry Port is progressing. A </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission line has been built from Matatirtha to Chobhar.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A substation will be built in Chobhar and a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV underground line will be constructed and taken to Lagankhel substation in Lalitpur through the ring road. Lagankhel substation is being strengthened and made </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV. Then in the coming days, the line will be taken underground from there to Chapagaon and Harsiddhi. In Lalitpur area, electricity is being supplied from Suchatar-Patan-Vaneshwar </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV line. This line is already 'overloaded'.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Construction of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220/132/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substations in Lapsiphedi has not been started yet due to local obstruction. Lapsiphedi substation is being built to distribute the electricity produced by the hydroelectric projects built in the Tamakoshi and Sunkoshi river catchment areas in the Kathmandu valley. Locals are obstructing the construction of about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km transmission line from Lapsiphedi to Changunarayan substation.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17539', 'image' => '20230509040046_1683532052.bijuli.jpg', 'article_date' => '2023-05-09 15:59:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17805', 'article_category_id' => '1', 'title' => 'NRB Makes Arrangement to Change Interest on Loans Every Month', 'sub_title' => '', 'summary' => 'May 9: Nepal Rastra Bank (NRB) has removed the provision that allows banks to change the interest rate on loans only once in a quarter. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Nepal Rastra Bank (NRB) has removed the provision that allows banks to change the interest rate on loans only once in a quarter. Along with this decision, banks and financial institutions will now have to change the interest on loans every month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On Monday, Nepal Rastra Bank issued instructions to banks and financial institutions of A, B and C categories to change the interest on loans every month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has made new arrangement to change the interest on loans in a monthly basis according to the base rate of the last three months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While changing the interest on loans, it has to be changed on a monthly basis considering the increase or decrease in the average base rate of the last three months," reads the instructions issued 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:"Arial","sans-serif"">Prior to this, there was an arrangement for changing the interest rate on loans on a quarterly basis.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17538', 'image' => '20230509025612_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-05-09 14:55:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17804', 'article_category_id' => '1', 'title' => 'Hulas Aluminium Organizes Meeting to Promote Innovative Steel App with Attractive Prizes', 'sub_title' => '', 'summary' => 'Hulas Aluminium, a renowned brand in Nepal, held an informative meeting for fabricators to promote their innovative new app, the "Hulas Steel App."', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: Hulas Aluminium, a renowned brand in Nepal, held an informative meeting for fabricators to promote their innovative new app, the "Hulas Steel App" on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The event took place at Diyalo Foodland in Chitwan, where Hulas Steel had previously launched the app several weeks ago. The program was designed to provide fabricators with more information about the app and its features.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hulas Steel App was launched with the slogan "Hulas Steel App in Mobile, Travel to Europe in Gift," offering special gifts such as a trip to Europe, six tola gold, Pulsar bikes, and other attractive prizes for fabricators.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Customers who download the app on their mobile phones can purchase products and pay for them by loading the bill into the app and receiving points in return. The more points accumulated, the more gifts the customer can receive, as per the company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, Hulas Steel, with over forty years of proud history, informed fabricators about their new products, and over 150 fabricators attended the event.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hulas Steel App offers a convenient and innovative way for customers to purchase steel products while receiving rewards for their loyalty.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17537', 'image' => '20230509021823_collage.jpg', 'article_date' => '2023-05-09 14:15:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17803', 'article_category_id' => '1', 'title' => 'Case Registered against Gyanendra Lal Pradhan', 'sub_title' => '', 'summary' => 'May 9: The Securities Board of Nepal (SEBON) has registered a case against Gyanendra Lal Pradhan, the then-chairman of Nepal Hydro Developers Limited, in the Kathmandu District Court. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 9: The Securities Board of Nepal (SEBON) has registered a case against Gyanendra Lal Pradhan, the then-chairman of Nepal Hydro Developers Limited, in the Kathmandu District Court. A case was registered in the Kathmandu District Court on May 8, claiming that Pradhan had traded in securities against the law.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board’s spokesperson Mukti Shrestha confirmed that a case has been registered against Pradhan in the Kathmandu District Court demanding action against him as per Section 98 of the Securities Act, 2063. According to the board, Pradhan sold the shares in the secondary market through his wife, contrary to the rule that forbids him from transferring shares in any way during his tenure as the chairman until a year after leaving the position.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Even if Pradhan himself did not sell his shares, doing it through the help of his family is not justifiable," said Shrestha. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Section 98 of the Securities Act, 2063, considers one to be a fraud if someone acts to deceive someone. Shrestha said that since it became clear that Pradhan deceived the regulatory body, the securities market and other stakeholders, he has to go through the legal process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, the Board of Directors’ meeting held on April 1 had decided to take action against Pradhan, bar him from becoming a director of any listed company for 10 years, along with a cash fine. According to the provisions of the Securities Act, Pradhan has been fined Rs 75,000 in cash, and the board has taken action so that he cannot be reinstated as a director, general manager or similar position of any public limited company or organization for 10 years.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the provisions of the Securities Registration and Issuance Regulations, the directors, executive heads and other officials of listed companies are not allowed to buy and sell the shares of such companies or the company they are involved in by themselves or through their family members for a year after being in the office or after leaving the office. However, after receiving a complaint that Pradhan traded shares against the said provision, the board started an investigation from the last winter.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The investigation report has also been submitted to the Public Prosecutor's Office. As there is sufficient basis and evidence for the charges against Pradhan, the case has been registered in the District Court with the support of the Public Prosecutor's Office.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board has been investigating the complaint of illegal securities trading with special priority. Earlier, the board had decided to take action against the then chairman of Ridi Power Company, Guru Prasad Neupane, who was accused of illegal securities trading, with a cash fine.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Neupane was also punished by the board with a fine of Rs 75,000 and barred from serving as a director, general manager or similar position of any listed company for 10 years. The board had registered a case against Neupane in the Kathmandu District Court on March 22.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17536', 'image' => '20230509014954_1683604470.collage (2).jpg', 'article_date' => '2023-05-09 13:49:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17802', 'article_category_id' => '1', 'title' => 'MPs Suggest Government not to Announce Ceremonial Budget', 'sub_title' => '', 'summary' => 'May 9: Parliamentarians have suggested the government not to bring the traditional-style ritualistic budget when the economy is in crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: Parliamentarians have suggested the government not to bring the traditional-style ritualistic budget when the economy is in crisis. During the deliberations on the principles and priorities of the Appropriation Bill 2080 at the House of Representatives meeting on Monday, the lawmakers said that a conservative budget does not make sense when the economy is in crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Swatantra Party’s MP and economist Dr Swarnim Wagle said that the principles and priorities laid down in the Appropriation Bill 2080 by Finance Minister Prakash Sharan Mahat are ritualistic. He argued that it is not appropriate to talk about economic stability when the economy is troubled and has lost its rhythm.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The current economic growth rate is only around 2 percent, which is much lower than the target of 8 percent for the current fiscal year. With only two months left in the fiscal year, achieving this target seems highly unlikely,” said Wagle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Wagle, the government has collected Rs 733 billion in revenue and spent Rs 1,116 billion as of Sunday night and it is not easy to bridge such a big gap between revenue collection and expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He added that there is a big gap between credit investment and economic growth in the financial sector at present. According to him, the loan is increasing by 20-22 percent annually and it does not seem to match the speed of the economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MP Wagle urged the government to re-evaluate the issues that need to be urgently done through the budget to fill the gap between import and export of goods and services and between production and consumption. According to him, the government needs to adopt a different approach to address this issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Wagle also pointed out the need to move from quantitative development to qualitative development. According to him, education, health and drinking water are among the principles and priorities of the government, but there has not been any significant change in these areas in the last 32 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, emphasis should now be placed on education in schools and quality services in hospitals rather than the number of roads and schools. He said that malnutrition is rife in Nepal, adding that malnutrition has afflicted one third of the entire generation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Wagle says that it is wrong for the finance minister to say that there is no place in the financial policy and to go ahead with the monetary policy tool. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali Congress MP and former Finance Minister Gyanendra Bahadur Karki suggested that the main objective of the upcoming budget should be to focus on production and employment growth. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Due to the contraction in resources, we do not have the facility to make a budget on a whim," he said, adding, “In the current situation, it is not a populist budget but a realistic one that is necessary.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the world economy is having some impact on Nepal's economy, Karki said that the budget should come with the determination to increase employment and develop a sustainable and strong economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Karki welcomed and supported Mahat's determination to achieve economic growth, increase employment and develop a sustainable and strong economy by incorporating those issues in the principles and priorities of the Appropriation Bill, 2080. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (UML) MP and former finance minister Bishnu Prasad Paudel pointed out to the fact that there is a ‘slowdown’ in the economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The government should present facts about the current situation and the problems faced by the economy. However, I found that the government is oblivious to the problems and challenges of the economy," said Paudel. "The government is unaware about where the problem is and what the challenges are."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the data released by the National Statistics Office shows that the Nepalese economy is in recession. Paudel said that the economic growth rate of the second quarter of the current fiscal year is negative and this confirms recession. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This is what the statistics have said. Do we cover up or admit that the economy is in recession? We is this situation. Considering that the economy is now in recession, the budget should come with the determination to face the challenges. However, the government hasn’t accepted it," said former Finance Minister Paudel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the private sector is disappointed and the public finances are being wasted. According to Paudel, revenue collection has increased by only 50 percent in the current year compared to the target and decreased by 13 percent compared to last year, but the expenses have increased by 19 percent. Paudel said that this is the reason why there is a deficit of more than Rs 200 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Swatantra Party’s MP Ravi Lamichhane said that the country's economy is now in an extraordinary situation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The finance minister presented a document that is not different from the previous years, filled with 'will be done' as in previous years." This document has come as a regular ritual to be presented by changing some words and sentences.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17535', 'image' => '20230509120928_NP_KTM-0D3A7296.jpg', 'article_date' => '2023-05-09 12:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17801', 'article_category_id' => '1', 'title' => 'Upper House Lawmakers Show Concerns Over 'Vague' Words in Budget', 'sub_title' => '', 'summary' => 'May 9: Lawmakers have raised concerns over the use of 'vague' words in the government’s annual policies and programmes and in the budget. ', '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 9: Lawmakers have raised concerns over the use of 'vague' words in the government’s annual policies and programmes and in the budget. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Each budget has ambigious sentences like 'shall be implemented', 'shall be prioritized', 'shall be stressed' and the list goes on, according to lawmakers who were airing their views in a meeting of the National Assembly (NA), the Upper House of the Federal Parliament, on Monday. They said such phrasing makes the government’s 'priorities' further unclear, raising doubts over their enforcement. </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 government has been urged to not make the budget a compilation of such vague words. </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"">Narayan Dhakal demanded the government incorporate such issues which are implementable in the upcoming budget. Expressing his concern over the weak implementation of the budget, he urged the government to make the budget a substantive and a real document. </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"">He was of the view of minimizing the current expenditure and finding out reasons for the dismal capital expenditure. </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"">Likewise, Sharada Devi Bhatta demanded for budget allocation for the establishment of a chemical fertilizer factory within the country. </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"">Narayan Dutta Mishra sought the promotion of domestic-manufactured electric vehicles, sufficient supplies of chemical fertilizer and adequate budget to the education and health sectors while Madan Kumari Shah (Garima) drew the government's attention towards the need of self-sufficient agriculture. She urged the government to further promote the energy sector to reduce a huge budget being spent on energy imports. </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"">Meanwhile, lawmakers speaking in the meeting of the Upper House of the Federal Parliament also expressed happiness over the government determining the priority of the next fiscal year's budget by focusing on economic development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">They called on the government to focus on job creation, production growth, agriculture, herbs, forests, education and health sectors in the next fiscal year's budget. They also urged the government to address the problems encountered in development and construction works, especially those related to contracts and bidding.</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"">Some lawmakers called for allocating the budget to the provinces based on the population and initiating measures to boost up the economy through tourism promotion, hydroelectricity development and industrialization.</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"">Lawmakers Maya Prasad Sharma, Dil Kumari Thapa Rawal, Kamala Panta, Singha Bahadur Bishwakarma, Mrigendra Kumar Singh Yadav and Shekhar Kumar Singh made such demands.</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"">Speaking at the outset of the meeting prior to this, CPN (UML) lawmaker Bhairab Sundar Shrestha drew the attention of the House saying a lawmaker had made an 'indecent statement' in the meeting on Sunday and demanded that the statement be removed from the record.</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"">National Assembly Chairman Ganesh Prasad Timilsina said that he will take a decision on this matter only after listening to the statement.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17534', 'image' => '20230509110705_Parliament RSS 800.jpg', 'article_date' => '2023-05-09 11:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17800', 'article_category_id' => '1', 'title' => 'Chachan Group Opens Water Park in Bara-Parsa Corridor', 'sub_title' => '', 'summary' => 'The Chachan Group has opened the Thrill Water Park at Bara-Parsa Corridor, as part of its increased investment in the entertainment industry.', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 9: The Chachan Group has opened the Thrill Water Park at Bara-Parsa Corridor, as part of its increased investment in the entertainment industry. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The industrial and trade group's director, Nikhil Chachan, revealed that the water park is the first of its kind in the Madhes province and is targeting tourists from Bara, Parsa, Rautahat, Makawanpur, and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The water park, which was constructed with an investment of NPR 70 million, is suitable for all age groups.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In addition to the water park, the Chachan Group is also planning to launch an off-road track for off-road driving enthusiasts on a two bigaha land adjacent to the water park, within the next one and a half months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This move comes after the group opened a thrill factory at Bara's Chainpur six months ago. Notably, the water park has been set up on the premises of the thrill factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Thrill Water Park is expected to be a popular attraction among locals and tourists alike, further boosting the region's tourism sector.</span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17533', 'image' => '20230509061704_collage (6).jpg', 'article_date' => '2023-05-09 06:15:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17799', 'article_category_id' => '1', 'title' => 'Government’s Efforts to Improve Economy Inadequate: Dr Swarnim Wagle', 'sub_title' => '', 'summary' => 'Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year, 2023/24.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 9: Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year, 2023/24. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle stated that these efforts were not enough and that the economy needs drastic measures rather than ritualistic ones, said Dr Wagle during a meeting of the House of Representatives on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite accommodating many things, the principles and priorities outlined in the bill have not met the expectations of the people, according to Dr Wagle. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He commented that it would be inappropriate to talk about economic growth and prosperity when the country's economy has lost its pace. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The current economic growth rate is only around 2 percent, which is much lower than the target of 8 percent for the current fiscal year. With only two months left in the fiscal year, achieving this target seems highly unlikely.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle also raised concerns about the increasing gap between expenditures and incomes, which is a major challenge in reducing the budget deficit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle highlighted the significant gap between loan investments and economic growth, with loan rates regularly increasing to 20 or 22 percent. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Despite this, it seems that loan investments have not significantly contributed to economic growth, he added. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17532', 'image' => '20230509054757_collage (5).jpg', 'article_date' => '2023-05-09 05:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17798', 'article_category_id' => '1', 'title' => 'HoR starts Deliberations on Principles and Priorities of Appropriation Bill ', 'sub_title' => '', 'summary' => 'May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers on Monday put forth their views on the proposal during the deliberation on the principles and priorities of the bill (except taxes) put forward by Finance Minister Dr Prakash Sharan Mahat in the first meeting of the Budget Session of the federal parliament on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deliberation will run for three days. On the occasion, former finance ministers Gyanendra Bahadur Karki and Bishnu Prasad Paudel put their views on the existing situation of the country's economy, possible challenges and next strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed the need for prioritising the programmes that would create job opportunities and contribute to sustainable economic development by taking the economy on the road to improvement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also a Nepali Congress lawmaker, suggested that the next budget should mainly focus on production and employment. "We do not have the luxury of making the budget excitedly due to a shrinkage of income sources. In this present situation, a realistic budget is needed, but not a populist one," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He welcomed and supported Minister Dr Mahat for his commitments to get economic growths, increments in job opportunities and development of sustainable economy through the principles and priorities of the Bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Paudel, a CPN (UML) lawmaker, suggested that the budget should prioritises the goals of taking the country on the path to economic prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also warned of possible economic recession in case of failure to take effective initiatives to improve the negative indicators of the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The budget should also accommodate the things keeping in view of the current economic challenges,” he said. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17531', 'image' => '20230508055057_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 17:50:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17797', 'article_category_id' => '1', 'title' => 'NEPSE's Fall Continues Unabated', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">May 8: The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">A total of 270 scrips exchanged hands via 25,588 transactions, amounting to a turnover of Rs. 82.42 crores. This is a significant increase from the previous day's turnover of Rs. 60.81 crores. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover of Rs. 3.78 crores and closed at a market price of Rs. 398 per share. The shares of HDHPC traded the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) bucked the trend and gained the highest 8.05% for the day. Conversely, Eastern Hydropower Limited (EHPL) lost the most, falling by 9.99% today. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">All 13 sector indices closed in the red zone, with "Hotel and Tourism" experiencing the highest loss of 2.44%, while "Mutual Fund" saw a marginal loss of 0.06%. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">The Sensitive Index lost 0.68%, while the Float Index and Sensitive Float Index fell by 0.94% and 0.72%, respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Expert investors attribute the continuous decline in NEPSE to the ongoing financial crisis, lack of liquidity, high interest rates on credit, and low economic growth. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Investors are urging for policy-level changes that can inject confidence into the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">They are hopeful that the Nepal Rastra Bank will remove the cap of NPR 1200 million on margin lending and reduce the risk weightage on share loans from 150 to 100 in its quarterly review of monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">If these policy-level changes are implemented, they are expected to have a positive impact on the stock market, according to expert investors.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17530', 'image' => '20230508043218_collage (3).jpg', 'article_date' => '2023-05-08 16:29:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 10: The Nepalese Army has collected as many as 3,600 kilograms of solid waste from Myagdi-based Annapurna I. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As part of the Clean Mountain Campaign spearheaded by the Nepalese Army, the waste matter was collected from Mt Annapurna I and its base camp. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 8,071-meter high Annapurna I lies in Annapurna Rural Municipality-4, Narchyang of Myagdi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Administrative Officer of Annapurna Rural Municipality, Amrit Subedi said the NA's mountain cleaning team had started cleaning up Mt Annapurna on April 10 and returned on May 9. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team comprising 10 NA personnel and 13 from Peak Promotion Travel Agency had collected garbage from the mountain and the base camp for more than a month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NA mayor Gajendra Deuba had led the clean-up campaign. The army team along with Captain Bhim Bahadur Bhujel had reached atop the 8,091 meter high Annapurna peak and collected garbage there as well.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The waste collected include 1,200-kg biodegradable and 2,400-kg non-biodegradable waste, the team shared. The biodegradable waste has been managed at Bhusaket in the presence of the representatives of Annapurna Youth Club in Narchyang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The non-biodegradable waste was taken to Dana of Myagdi via a helicopter belonging to Prabhu Air. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The waste airlifted to Dana from the Annapurna Base Camp was then sent to Kathmandu-based NA headquarters in a truck, shared Indra Siingh Sherchan, a local of Dana. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2,400-kg wastes including plastics, tins, iron and lead were sent to Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The clean-up was done in the Annapurna mountain and its base camp after 72 years since mountaineering was permitted, said Chairperson of Village Conservation Area Management Committee, Narchyang, Tej Gurung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The waste was increasingly piling up in the mountain and base camp with the rise in the number of mountaineers and trekkers,” he said, adding, “The NA team cleaned up the Annapurna mountain for the first time.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara metropolis had extended financial support of Rs 1.5 million to the NA for the clean mountain campaign. NA has conducted 'Clean Mountain Campaign-2023' in Mount Annapurna, Sagarmatha, Lhotse and Barunche peaks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 8,000-merter high Dhaualagiri and Manaslu mountains located in Gandaki province were cleaned earlier. The NA has initiated the campaign realizing the waste dumped in the mountain caused environmental imbalance and imparted a wrong message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA that started the campaign since 2019 had extracted 7,157 kilograms biodegradable waste from the Mount Everest, Lhotse, Manaslu and Kanchanjunga peaks last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-10', 'modified' => '2023-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '17544', 'image' => '20230510115148_Nepalisena-1.JPG', 'article_date' => '2023-05-10 11:50:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17810', 'article_category_id' => '1', 'title' => 'Prime Life, Union Life, and Gurans Life Insurance Begin Joint Transactions ', 'sub_title' => '', 'summary' => 'Prime Life, Union Life, and Gurans Life Insurance have started their integrated transaction from Baishakh 26, as the biggest merger in the life insurance sector. ', 'content' => '<p><span style="font-size:18px">May 10: Prime Life, Union Life, and Gurans Life Insurance have started their integrated transaction from Baishakh 26, as the biggest merger in the life insurance sector. </span></p> <p><span style="font-size:18px">The three companies have merged and started operations under the name "Himalayan Life Insurance”. These companies had reached an initial agreement for the merger on Baisakh 29, last year, and completed the merger process within a year of the initial agreement.</span></p> <p><span style="font-size:18px">After the merger, the central office of the company is located at the central office of Prime Life, which is located in Manakamana Marg, Naxal, Kathmandu, according to the latest arrangement. </span></p> <p><span style="font-size:18px">According to the latest arrangement made by Insurance Authority of Nepal, the life insurance company has to maintain Rs. 5 billion and the non-life insurance company has to maintain Rs. 2.50 billion in paid-up capital. Following the merger, the paid-up capital of the three companies has reached Rs. 7.72 billion.</span></p> <p><span style="font-size:18px">Prime Life has proposed to distribute 13 percent bonus shares from the profit of fiscal year 2077/78 BS, which was approved by the annual general meeting held on Poush 24, 2079 BS. After the bonus, Prime Life's paid-up capital has reached Rs. 3.14 billion. </span></p> <p><span style="font-size:18px">Similarly, Union Life has proposed to distribute 8.97 percent bonus shares this year, which was approved by the annual general meeting held on Magh 26, 2079. After the bonus, the paid-up capital of the Union Life Insurance has reached NPR 2.34 billion. </span></p> <p><span style="font-size:18px">Gurans Life Insurance, however, has yet to announce the dividend this year. The paid-up capital of the Gurans Life Insurance is NPR 2.23 billion. </span></p> <p><span style="font-size:18px">After the merger, the former chairman of Union Life Insurance, Sulabh Agrawal, has become the chairman of the board of directors of the merged company, and the chief executive officer of Union Life Insurance, Manoj Kumar Lalkarna, has been appointed the Chief Executive Officer of the merged company. </span></p> <p><span style="font-size:18px">The former chief executive officer of Gurans Life, Bipin Karn, and the chief executive officer of Prime Life Insurance, Nirmal Dahal, have agreed to become senior deputy chief executives of the merged entity. </span></p> ', 'published' => true, 'created' => '2023-05-10', 'modified' => '2023-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '17543', 'image' => '20230510061429_collage (4) (1).jpg', 'article_date' => '2023-05-10 06:09:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17809', 'article_category_id' => '1', 'title' => 'Government Collects Royalties Worth Over Rs 740 Million from Expedition Permits this Spring ', 'sub_title' => '', 'summary' => 'May 9: The spring season is favourable for mountain climbing in Nepal. During this season, the nation welcomes a noticeable number of aspiring climbers from across the globe for expeditions to Mount Everest and other various peaks. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 9: The spring season is favourable for mountain climbing in Nepal. During this season, the nation welcomes a noticeable number of aspiring climbers from across the globe for expeditions to Mount Everest and other various peaks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">People from 80 countries including Nepal took permissions from the Department of Tourism for climbing Nepal's peaks including Mt Everest during this spring season. Among them, citizens from 65 countries acquired permits for Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mountaineering Section of the department said that revenue of over Rs 740 million has been collected so far from the expedition permit fees in this spring. The permission for Mt Everest alone contributed Rs 650 million followed by Rs 28.3 million from Lhotse and Rs 13.6 from Makalu expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section Officer Bigyan Koirala said that the permits issued for climbing Everest were the highest ever and the revenue collection has also increased. Nepal is home to eight peaks of above 8,000 meters in the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Koirala said 467 people of 44 expedition teams obtained permission for climbing Mt Everest as of May 8. This figure is likely to go up slightly as the department expects a few more permits to be issued by Wednesday. Almost all aspiring climbers have already arrived. They are in the Everest Base Camp and Camp 2 waiting for favourable conditions to set out for their journey to the peak of Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Icefall doctors have already fixed a route to Camp 4 of Everest. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17542', 'image' => '20230509060445_1683182194.tourist.jpeg', 'article_date' => '2023-05-09 18:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17808', 'article_category_id' => '1', 'title' => 'Why is the Fourth Largest Party in Parliament against New Stock Exchange?', 'sub_title' => '', 'summary' => 'May 9: Rastriya Swatantra Party (RSP), the fourth largest party in parliament, stands against the new stock exchange platform. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Rastriya Swatantra Party (RSP), the fourth largest party in parliament, stands against the new stock exchange platform. Although the other parties in the federal parliament did not oppose it, only RSP stood against this concept.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The party's lawmakers are arguing that when the new stock exchange comes into operation, the capital market of Nepal will be under the grip of certain groups. They have been arguing that the license distribution process should be stopped immediately, saying that there is a big corruption in granting license for a new stock exchange.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Securities Board of Nepal (SEBON) has said that an evaluation committee has been formed under the coordination of Joint Secretary at the Ministry of Law, Phanindra Gautam and the necessary steps for the distribution of licenses for the new stock exchange have been taken. According to a member of the evaluation committee, the process has reached its final stage.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Himalayan Stock Exchange, National Stock Exchange and Annapurna Stock Exchange have applied for the license of a new stock exchange with the board. But the RSP MPs have been putting pressure on the government agencies to stop the process immediately saying that there is financial manipulation in the license distribution process of the new stock exchange.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Speaking at the zero hour of the House of Representatives meeting on April 28, RSP lawmaker Sobita Gautam said that the process of granting licenses to new stock exchanges should be stopped immediately. Referring to the fact that the government-owned Nepal Stock Exchange (NEPSE) is contributing about Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion as dividend to the government every year, she accused that the NEPSE is being weakened intentionally to divert its business to the new stock exchange. She said that the preparations for giving license to the new stock exchange should be stopped immediately to avoid the capital market of Nepal coming under the control of certain groups.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In response to the question raised by New Business Age regarding why is the RSP opposed to the new stock exchange, Biraj Bhakta Shrestha, the deputy parliamentary party leader of the RSP and head of the currency and capital market department of the party, claimed that they are bringing a new exchange for the benefit of some limited people without conducting a scientific study of the need for a new stock exchange in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“In addition to the clear intentions, there are also signs of corruption. Therefore, even if RSP is alone against such mala fide intentions, it will always stand in opposition and will continue to protest such move," he said. Apart from this, RSP is also serious about protecting investors' investments, he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist and former chairman of the Securities Board of Nepal Rewat Bahadur Karki says that when the new exchange comes into operation, NEPSE which is currently operating will be stronger rather than weaker.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“When the private sector banks came into operation, there was improvement in the performance of state-owned banks. Similarly, when a private sector telecom company starts operating, the government’s telecom company improves, when a new stock exchange comes into operation, NEPSE will improve rather than weaken,” he argued.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He says that NEPSE has not been able to bring new tools to the market due to lack of competition. He said that when a new stock exchange comes into operation, there will be healthy competition, new tools and new technologies will be introduced in the market, which will help in the development and expansion of the market. He believes that this will also benefit the investors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Karki says, "The market is currently dominated by limited individuals. Since both NEPSE and the board are owned by the government, the board has not been able to regulate the secondary market properly. Therefore, when a new exchange comes into operation, the regulatory capacity of the board will also expand.”</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17541', 'image' => '20230509043400_aaaa.jpg', 'article_date' => '2023-05-09 16:31:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17807', 'article_category_id' => '1', 'title' => 'NEPSE Witnesses Gains of 10.66 Points', 'sub_title' => '', 'summary' => 'After thirteen days of decline, the Nepal Stock Exchange (NEPSE) Index saw a rise of 0.58% on Tuesday, the third trading day of the week. The NEPSE Index gained 10.66 points, closing at 1844.36 points today.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: After thirteen days of decline, the Nepal Stock Exchange (NEPSE) Index saw a rise of 0.58% on Tuesday, the third trading day of the week. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NEPSE Index gained 10.66 points, closing at 1844.36 points today. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 269 scrips exchanged hands via 20,776 transactions, amounting to a turnover of NPR over 77.47 crores. The turnover amount is less than yesterday’s turnover amount of NPR 82.42 crores. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Himal Dolakha Hydropower Company(HDHPC) had the highest turnover of NPR 6.96 crores and closed at a market price of NPR 189.50 per share. HDHPC shares traded the most in the NEPSE. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People’s Power Limited (PPL) gained the highest 6.47%. Conversely, Unique Nepal Laghubitta Bittiya Sanstha limited(UNLB)lost the highest, falling by 8.68%. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All thirteen sector indices closed in the green zone, with Hotels and Tourism experiencing the highest gains of 1.94%, while Trading Index saw a marginal gain of 0.12%. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Sensitive Index made gains of 0.53%, while Float Index and Sensitive Float Index 0.57% and 0.48% respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts on the stock market and investors attribute the positive impact on NEPSE to the Nepal Rastra Bank's new directive to change the interest rate on loans on a monthly basis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Finance Minister Dr Prakash Sharan Mahat's remarks in the National Assembly to lower interest rates on loans to spur economic growth may have helped to break NEPSE's downward trend.</span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17540', 'image' => '20230509040633_collage (2).jpg', 'article_date' => '2023-05-09 16:03:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17806', 'article_category_id' => '1', 'title' => 'Eight Substations Being Built to Improve Electricity Distribution System in Kathmandu Valley', 'sub_title' => '', 'summary' => 'May 9: Nepal Electricity Authority (NEA) is constructing eight high-capacity substations to improve the electricity transmission and distribution system in Kathmandu Valley. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Nepal Electricity Authority (NEA) is constructing eight high-capacity substations to improve the electricity transmission and distribution system in Kathmandu Valley. Substations of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">KV, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">200</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">KV and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV capacities are under construction in the valley.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to address the potential electricity demand by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the authority has set a deadline and advanced the process of construction of transmission and distribution infrastructure in major areas of the Kathmandu Valley in a phased manner.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">By the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the highest demand for electricity in Kathmandu Valley is projected to reach </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,100</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> megawatts, and the authority has advanced the construction process of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> more new substations. Land acquisition process for construction of the substations has been started. A survey is being conducted to construct a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV ring around the outer perimeter of Kathmandu Valley with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Substations are under construction at Lapsiphedi, Matatirtha, Chobhar, Futung, Teku, Mulpani and Thimi and Changunarayan in Bhaktapur. Teku and Changunarayan substations are in the final stages of construction. Both the substations will come into operation by next June.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kulman Ghising, executive director of the authority, said that work is underway to complete the substation projects under construction as soon as possible to meet the increasing demand for electricity in the Kathmandu Valley. It is also aimed at making the supply reliable, he added.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ghising, during an inspection visit to the Teku, Futung and Changunarayan substations, instructed the project management and construction workers to complete the construction of the substations within the stipulated time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the winter of this year, the demand for electricity in Kathmandu Valley did not increase so much, due to which it became easier to manage the electricity supply. Considering the winter of next year, the construction of the substation should be completed before that," said Executive Director Ghising. After the construction of Teku and Futung substations is completed, the management of electricity demand and supply in Kathmandu will be much easier.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Teku-based </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substation is being strengthened and a new </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substation is being constructed at Futung. Two power transformers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">45/45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA capacity will be placed in both the substations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to facilitate the electricity supply in the central part of Kathmandu, nine new feeders will be removed from Teku substation for local electricity supply.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To make the power supply of Kathmandu Valley reliable and to ensure its quality, projects such as construction of new substations, automation of existing substations, laying underground electric wires, adding and strengthening of new feeders and transformers are being implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Improvement of transmission and distribution system is being done with the investment of Nepal government and the authority, concessional loan from Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The process of acquiring </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ropanis of land required for the construction of substation on the land of Himal Cement near the Chobhar Dry Port is progressing. A </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission line has been built from Matatirtha to Chobhar.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A substation will be built in Chobhar and a </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV underground line will be constructed and taken to Lagankhel substation in Lalitpur through the ring road. Lagankhel substation is being strengthened and made </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV. Then in the coming days, the line will be taken underground from there to Chapagaon and Harsiddhi. In Lalitpur area, electricity is being supplied from Suchatar-Patan-Vaneshwar </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV line. This line is already 'overloaded'.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Construction of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220/132/11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV substations in Lapsiphedi has not been started yet due to local obstruction. Lapsiphedi substation is being built to distribute the electricity produced by the hydroelectric projects built in the Tamakoshi and Sunkoshi river catchment areas in the Kathmandu valley. Locals are obstructing the construction of about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km transmission line from Lapsiphedi to Changunarayan substation.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17539', 'image' => '20230509040046_1683532052.bijuli.jpg', 'article_date' => '2023-05-09 15:59:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17805', 'article_category_id' => '1', 'title' => 'NRB Makes Arrangement to Change Interest on Loans Every Month', 'sub_title' => '', 'summary' => 'May 9: Nepal Rastra Bank (NRB) has removed the provision that allows banks to change the interest rate on loans only once in a quarter. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">May 9: Nepal Rastra Bank (NRB) has removed the provision that allows banks to change the interest rate on loans only once in a quarter. Along with this decision, banks and financial institutions will now have to change the interest on loans every month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On Monday, Nepal Rastra Bank issued instructions to banks and financial institutions of A, B and C categories to change the interest on loans every month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has made new arrangement to change the interest on loans in a monthly basis according to the base rate of the last three months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While changing the interest on loans, it has to be changed on a monthly basis considering the increase or decrease in the average base rate of the last three months," reads the instructions issued 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:"Arial","sans-serif"">Prior to this, there was an arrangement for changing the interest rate on loans on a quarterly basis.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17538', 'image' => '20230509025612_1683614421.1643946593.Clipboard02.jpg', 'article_date' => '2023-05-09 14:55:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17804', 'article_category_id' => '1', 'title' => 'Hulas Aluminium Organizes Meeting to Promote Innovative Steel App with Attractive Prizes', 'sub_title' => '', 'summary' => 'Hulas Aluminium, a renowned brand in Nepal, held an informative meeting for fabricators to promote their innovative new app, the "Hulas Steel App."', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: Hulas Aluminium, a renowned brand in Nepal, held an informative meeting for fabricators to promote their innovative new app, the "Hulas Steel App" on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The event took place at Diyalo Foodland in Chitwan, where Hulas Steel had previously launched the app several weeks ago. The program was designed to provide fabricators with more information about the app and its features.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hulas Steel App was launched with the slogan "Hulas Steel App in Mobile, Travel to Europe in Gift," offering special gifts such as a trip to Europe, six tola gold, Pulsar bikes, and other attractive prizes for fabricators.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Customers who download the app on their mobile phones can purchase products and pay for them by loading the bill into the app and receiving points in return. The more points accumulated, the more gifts the customer can receive, as per the company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, Hulas Steel, with over forty years of proud history, informed fabricators about their new products, and over 150 fabricators attended the event.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hulas Steel App offers a convenient and innovative way for customers to purchase steel products while receiving rewards for their loyalty.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17537', 'image' => '20230509021823_collage.jpg', 'article_date' => '2023-05-09 14:15:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '17803', 'article_category_id' => '1', 'title' => 'Case Registered against Gyanendra Lal Pradhan', 'sub_title' => '', 'summary' => 'May 9: The Securities Board of Nepal (SEBON) has registered a case against Gyanendra Lal Pradhan, the then-chairman of Nepal Hydro Developers Limited, in the Kathmandu District Court. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 9: The Securities Board of Nepal (SEBON) has registered a case against Gyanendra Lal Pradhan, the then-chairman of Nepal Hydro Developers Limited, in the Kathmandu District Court. A case was registered in the Kathmandu District Court on May 8, claiming that Pradhan had traded in securities against the law.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board’s spokesperson Mukti Shrestha confirmed that a case has been registered against Pradhan in the Kathmandu District Court demanding action against him as per Section 98 of the Securities Act, 2063. According to the board, Pradhan sold the shares in the secondary market through his wife, contrary to the rule that forbids him from transferring shares in any way during his tenure as the chairman until a year after leaving the position.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Even if Pradhan himself did not sell his shares, doing it through the help of his family is not justifiable," said Shrestha. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Section 98 of the Securities Act, 2063, considers one to be a fraud if someone acts to deceive someone. Shrestha said that since it became clear that Pradhan deceived the regulatory body, the securities market and other stakeholders, he has to go through the legal process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, the Board of Directors’ meeting held on April 1 had decided to take action against Pradhan, bar him from becoming a director of any listed company for 10 years, along with a cash fine. According to the provisions of the Securities Act, Pradhan has been fined Rs 75,000 in cash, and the board has taken action so that he cannot be reinstated as a director, general manager or similar position of any public limited company or organization for 10 years.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the provisions of the Securities Registration and Issuance Regulations, the directors, executive heads and other officials of listed companies are not allowed to buy and sell the shares of such companies or the company they are involved in by themselves or through their family members for a year after being in the office or after leaving the office. However, after receiving a complaint that Pradhan traded shares against the said provision, the board started an investigation from the last winter.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The investigation report has also been submitted to the Public Prosecutor's Office. As there is sufficient basis and evidence for the charges against Pradhan, the case has been registered in the District Court with the support of the Public Prosecutor's Office.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The board has been investigating the complaint of illegal securities trading with special priority. Earlier, the board had decided to take action against the then chairman of Ridi Power Company, Guru Prasad Neupane, who was accused of illegal securities trading, with a cash fine.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Neupane was also punished by the board with a fine of Rs 75,000 and barred from serving as a director, general manager or similar position of any listed company for 10 years. The board had registered a case against Neupane in the Kathmandu District Court on March 22.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17536', 'image' => '20230509014954_1683604470.collage (2).jpg', 'article_date' => '2023-05-09 13:49:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17802', 'article_category_id' => '1', 'title' => 'MPs Suggest Government not to Announce Ceremonial Budget', 'sub_title' => '', 'summary' => 'May 9: Parliamentarians have suggested the government not to bring the traditional-style ritualistic budget when the economy is in crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: Parliamentarians have suggested the government not to bring the traditional-style ritualistic budget when the economy is in crisis. During the deliberations on the principles and priorities of the Appropriation Bill 2080 at the House of Representatives meeting on Monday, the lawmakers said that a conservative budget does not make sense when the economy is in crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Swatantra Party’s MP and economist Dr Swarnim Wagle said that the principles and priorities laid down in the Appropriation Bill 2080 by Finance Minister Prakash Sharan Mahat are ritualistic. He argued that it is not appropriate to talk about economic stability when the economy is troubled and has lost its rhythm.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The current economic growth rate is only around 2 percent, which is much lower than the target of 8 percent for the current fiscal year. With only two months left in the fiscal year, achieving this target seems highly unlikely,” said Wagle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Wagle, the government has collected Rs 733 billion in revenue and spent Rs 1,116 billion as of Sunday night and it is not easy to bridge such a big gap between revenue collection and expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He added that there is a big gap between credit investment and economic growth in the financial sector at present. According to him, the loan is increasing by 20-22 percent annually and it does not seem to match the speed of the economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MP Wagle urged the government to re-evaluate the issues that need to be urgently done through the budget to fill the gap between import and export of goods and services and between production and consumption. According to him, the government needs to adopt a different approach to address this issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Wagle also pointed out the need to move from quantitative development to qualitative development. According to him, education, health and drinking water are among the principles and priorities of the government, but there has not been any significant change in these areas in the last 32 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, emphasis should now be placed on education in schools and quality services in hospitals rather than the number of roads and schools. He said that malnutrition is rife in Nepal, adding that malnutrition has afflicted one third of the entire generation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Wagle says that it is wrong for the finance minister to say that there is no place in the financial policy and to go ahead with the monetary policy tool. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali Congress MP and former Finance Minister Gyanendra Bahadur Karki suggested that the main objective of the upcoming budget should be to focus on production and employment growth. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Due to the contraction in resources, we do not have the facility to make a budget on a whim," he said, adding, “In the current situation, it is not a populist budget but a realistic one that is necessary.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the world economy is having some impact on Nepal's economy, Karki said that the budget should come with the determination to increase employment and develop a sustainable and strong economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Karki welcomed and supported Mahat's determination to achieve economic growth, increase employment and develop a sustainable and strong economy by incorporating those issues in the principles and priorities of the Appropriation Bill, 2080. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (UML) MP and former finance minister Bishnu Prasad Paudel pointed out to the fact that there is a ‘slowdown’ in the economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The government should present facts about the current situation and the problems faced by the economy. However, I found that the government is oblivious to the problems and challenges of the economy," said Paudel. "The government is unaware about where the problem is and what the challenges are."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the data released by the National Statistics Office shows that the Nepalese economy is in recession. Paudel said that the economic growth rate of the second quarter of the current fiscal year is negative and this confirms recession. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This is what the statistics have said. Do we cover up or admit that the economy is in recession? We is this situation. Considering that the economy is now in recession, the budget should come with the determination to face the challenges. However, the government hasn’t accepted it," said former Finance Minister Paudel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the private sector is disappointed and the public finances are being wasted. According to Paudel, revenue collection has increased by only 50 percent in the current year compared to the target and decreased by 13 percent compared to last year, but the expenses have increased by 19 percent. Paudel said that this is the reason why there is a deficit of more than Rs 200 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Swatantra Party’s MP Ravi Lamichhane said that the country's economy is now in an extraordinary situation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The finance minister presented a document that is not different from the previous years, filled with 'will be done' as in previous years." This document has come as a regular ritual to be presented by changing some words and sentences.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17535', 'image' => '20230509120928_NP_KTM-0D3A7296.jpg', 'article_date' => '2023-05-09 12:08:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17801', 'article_category_id' => '1', 'title' => 'Upper House Lawmakers Show Concerns Over 'Vague' Words in Budget', 'sub_title' => '', 'summary' => 'May 9: Lawmakers have raised concerns over the use of 'vague' words in the government’s annual policies and programmes and in the budget. ', '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 9: Lawmakers have raised concerns over the use of 'vague' words in the government’s annual policies and programmes and in the budget. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Each budget has ambigious sentences like 'shall be implemented', 'shall be prioritized', 'shall be stressed' and the list goes on, according to lawmakers who were airing their views in a meeting of the National Assembly (NA), the Upper House of the Federal Parliament, on Monday. They said such phrasing makes the government’s 'priorities' further unclear, raising doubts over their enforcement. </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 government has been urged to not make the budget a compilation of such vague words. </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"">Narayan Dhakal demanded the government incorporate such issues which are implementable in the upcoming budget. Expressing his concern over the weak implementation of the budget, he urged the government to make the budget a substantive and a real document. </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"">He was of the view of minimizing the current expenditure and finding out reasons for the dismal capital expenditure. </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"">Likewise, Sharada Devi Bhatta demanded for budget allocation for the establishment of a chemical fertilizer factory within the country. </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"">Narayan Dutta Mishra sought the promotion of domestic-manufactured electric vehicles, sufficient supplies of chemical fertilizer and adequate budget to the education and health sectors while Madan Kumari Shah (Garima) drew the government's attention towards the need of self-sufficient agriculture. She urged the government to further promote the energy sector to reduce a huge budget being spent on energy imports. </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"">Meanwhile, lawmakers speaking in the meeting of the Upper House of the Federal Parliament also expressed happiness over the government determining the priority of the next fiscal year's budget by focusing on economic development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">They called on the government to focus on job creation, production growth, agriculture, herbs, forests, education and health sectors in the next fiscal year's budget. They also urged the government to address the problems encountered in development and construction works, especially those related to contracts and bidding.</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"">Some lawmakers called for allocating the budget to the provinces based on the population and initiating measures to boost up the economy through tourism promotion, hydroelectricity development and industrialization.</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"">Lawmakers Maya Prasad Sharma, Dil Kumari Thapa Rawal, Kamala Panta, Singha Bahadur Bishwakarma, Mrigendra Kumar Singh Yadav and Shekhar Kumar Singh made such demands.</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"">Speaking at the outset of the meeting prior to this, CPN (UML) lawmaker Bhairab Sundar Shrestha drew the attention of the House saying a lawmaker had made an 'indecent statement' in the meeting on Sunday and demanded that the statement be removed from the record.</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"">National Assembly Chairman Ganesh Prasad Timilsina said that he will take a decision on this matter only after listening to the statement.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17534', 'image' => '20230509110705_Parliament RSS 800.jpg', 'article_date' => '2023-05-09 11:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17800', 'article_category_id' => '1', 'title' => 'Chachan Group Opens Water Park in Bara-Parsa Corridor', 'sub_title' => '', 'summary' => 'The Chachan Group has opened the Thrill Water Park at Bara-Parsa Corridor, as part of its increased investment in the entertainment industry.', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">May 9: The Chachan Group has opened the Thrill Water Park at Bara-Parsa Corridor, as part of its increased investment in the entertainment industry. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The industrial and trade group's director, Nikhil Chachan, revealed that the water park is the first of its kind in the Madhes province and is targeting tourists from Bara, Parsa, Rautahat, Makawanpur, and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The water park, which was constructed with an investment of NPR 70 million, is suitable for all age groups.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In addition to the water park, the Chachan Group is also planning to launch an off-road track for off-road driving enthusiasts on a two bigaha land adjacent to the water park, within the next one and a half months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">This move comes after the group opened a thrill factory at Bara's Chainpur six months ago. Notably, the water park has been set up on the premises of the thrill factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Thrill Water Park is expected to be a popular attraction among locals and tourists alike, further boosting the region's tourism sector.</span></span></p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17533', 'image' => '20230509061704_collage (6).jpg', 'article_date' => '2023-05-09 06:15:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17799', 'article_category_id' => '1', 'title' => 'Government’s Efforts to Improve Economy Inadequate: Dr Swarnim Wagle', 'sub_title' => '', 'summary' => 'Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year, 2023/24.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 9: Dr Swarnim Wagle, a member of House of Representatives, has criticized the government's efforts to improve the economy through the principles and priorities outlined in the appropriation bill for the next fiscal year, 2023/24. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle stated that these efforts were not enough and that the economy needs drastic measures rather than ritualistic ones, said Dr Wagle during a meeting of the House of Representatives on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite accommodating many things, the principles and priorities outlined in the bill have not met the expectations of the people, according to Dr Wagle. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He commented that it would be inappropriate to talk about economic growth and prosperity when the country's economy has lost its pace. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The current economic growth rate is only around 2 percent, which is much lower than the target of 8 percent for the current fiscal year. With only two months left in the fiscal year, achieving this target seems highly unlikely.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle also raised concerns about the increasing gap between expenditures and incomes, which is a major challenge in reducing the budget deficit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Dr Wagle highlighted the significant gap between loan investments and economic growth, with loan rates regularly increasing to 20 or 22 percent. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Despite this, it seems that loan investments have not significantly contributed to economic growth, he added. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-09', 'modified' => '2023-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '17532', 'image' => '20230509054757_collage (5).jpg', 'article_date' => '2023-05-09 05:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17798', 'article_category_id' => '1', 'title' => 'HoR starts Deliberations on Principles and Priorities of Appropriation Bill ', 'sub_title' => '', 'summary' => 'May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The federal parliament has started deliberation on the principles and priorities of the Appropriation Bill for the next fiscal year, 2023/24 presented by the government in the House of Representatives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers on Monday put forth their views on the proposal during the deliberation on the principles and priorities of the bill (except taxes) put forward by Finance Minister Dr Prakash Sharan Mahat in the first meeting of the Budget Session of the federal parliament on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deliberation will run for three days. On the occasion, former finance ministers Gyanendra Bahadur Karki and Bishnu Prasad Paudel put their views on the existing situation of the country's economy, possible challenges and next strategies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed the need for prioritising the programmes that would create job opportunities and contribute to sustainable economic development by taking the economy on the road to improvement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also a Nepali Congress lawmaker, suggested that the next budget should mainly focus on production and employment. "We do not have the luxury of making the budget excitedly due to a shrinkage of income sources. In this present situation, a realistic budget is needed, but not a populist one," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He welcomed and supported Minister Dr Mahat for his commitments to get economic growths, increments in job opportunities and development of sustainable economy through the principles and priorities of the Bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Paudel, a CPN (UML) lawmaker, suggested that the budget should prioritises the goals of taking the country on the path to economic prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also warned of possible economic recession in case of failure to take effective initiatives to improve the negative indicators of the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The budget should also accommodate the things keeping in view of the current economic challenges,” he said. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17531', 'image' => '20230508055057_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 17:50:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17797', 'article_category_id' => '1', 'title' => 'NEPSE's Fall Continues Unabated', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">May 8: The Nepal Stock Exchange (NEPSE) Index continues to plummet, with the second trading day of the week resulting in a further loss of 16.93 points, closing at 1833.69 points. This marks a loss of 0.91% compared to yesterday's decline of 1.09%.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">A total of 270 scrips exchanged hands via 25,588 transactions, amounting to a turnover of Rs. 82.42 crores. This is a significant increase from the previous day's turnover of Rs. 60.81 crores. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">SHIVAM CEMENTS LTD (SHIVM) had the highest turnover of Rs. 3.78 crores and closed at a market price of Rs. 398 per share. The shares of HDHPC traded the most.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) bucked the trend and gained the highest 8.05% for the day. Conversely, Eastern Hydropower Limited (EHPL) lost the most, falling by 9.99% today. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">All 13 sector indices closed in the red zone, with "Hotel and Tourism" experiencing the highest loss of 2.44%, while "Mutual Fund" saw a marginal loss of 0.06%. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">The Sensitive Index lost 0.68%, while the Float Index and Sensitive Float Index fell by 0.94% and 0.72%, respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Expert investors attribute the continuous decline in NEPSE to the ongoing financial crisis, lack of liquidity, high interest rates on credit, and low economic growth. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">Investors are urging for policy-level changes that can inject confidence into the stock market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">They are hopeful that the Nepal Rastra Bank will remove the cap of NPR 1200 million on margin lending and reduce the risk weightage on share loans from 150 to 100 in its quarterly review of monetary policy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"Arial","sans-serif"">If these policy-level changes are implemented, they are expected to have a positive impact on the stock market, according to expert investors.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17530', 'image' => '20230508043218_collage (3).jpg', 'article_date' => '2023-05-08 16:29:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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
