May 8: When people hear the term 'New Economy', many still get confused, what it actually…
May 8: When people hear the term 'New Economy', many still get confused, what it actually…
Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the…
May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of…
May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on…
May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu…
May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy.…
May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is…
May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee…
US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early…
May 7: The budget session of federal parliament kicked off on Sunday.…
Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company…
The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the…
May 7: Since Nepal is a close neighbor of India, its partnership is vital for the development of Nepal.…
May 7: Finance Minister Dr Prakash Sharan Mahat has said the current economic problems could be resolved through the monetary policy instead of the fiscal…
May 7: New Business Age organized a training for startups on Friday with the objective of learning and sharing the experiences of…
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However, the concept of the New Economy did not emerge suddenly. The new economy is defined as a new type of economy created by information, technology, the Internet, and ultra-high-tech companies. It is driven by technology-based industries with high economic growth rates. In this type of economy, the economic growth rate and productivity are made sustainable by advanced technology. Compared to the traditional economy, productivity is much higher. The economic growth rate is also very high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The concept of the New Economy came in the late 1990s when the use of the Internet and powerful computers began to change and shape the dimensions of the consumer and the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This has been especially linked to the boom in the share price of the technology sector in the late 90s and early 2000s. It started in the US. In the next few years, it reached other developed economies. In the next decade, a similar economic transformation was seen in many emerging economies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In simpler terms, an economy based on products and commodities gradually focuses on technology, and an economy in which technology is widely used in the creation of new goods and services is the New Economy. Its production cannot be matched by the traditional production-oriented economy. Nowadays, high-tech and the internet have changed every part of our daily life, including the way we work and spend time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">On the other hand, it has also changed the basic rules of economics. The increasing use of automation and robots has increased the possibility of losing millions of manual labour jobs. Equally, there is a situation where new jobs will be created. The way we shop, the way we travel has changed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Whether we are in the New Economy or yet to reach it is still a matter of controversy. A large group of economists are saying that we have now reached the New Economy. However, a small group is raising questions on this. Some economists say that in the New Economy, inflation will disappear, business cycles will not exist and the old rules of economics will not apply. Most economists are not ready to accept this as such claims have been made many times in the past. They argue that regardless of the situation, the basic rules of economics will not change.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The companies that form the backbone of the new economic system are many times larger than most of the world's economies. Companies have lost billions of dollars in the blink of an eye when a technology-based company's stock price bubble bursts. Hundreds of companies have gone bankrupt.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the companies that have survived till now have turned into innovative companies with cutting-edge technology. Most of the businesses in the new economy are involved in online activities and the biotechnology industry. It has spawned thousands of other industries. Currently, three of the top five companies with the highest market capitalization in the world are Apple, Google and Microsoft. In the 1980s, oil and car companies were on this list.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Over the past few years, online service providers or online-based companies have turned into multinational companies. Amazon, Facebook, Netflix, Alibaba, Payatu, Uber, and Tencent are just a few examples. The New Economy has not only changed the economic environment of the world but also restructured global capitalism. Capitalism has begun to focus on social, environmental and sustainable development goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Once upon a time, countries used to fight for oil or mineral production. Now the main topic of contention is consumer data and its security. The cold war that has been going on between the US and China for the past few years is also focused on data. Consumer data is at the core of everyone's problems, whether it's a business debate or a technology battle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The US and countries leaning towards the US are accusing China of spying on citizens of other countries through domestic technology companies and transferring consumer data to China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">An example of this is the growing worldwide ban on the Chinese short video-sharing app TikTok. China has denied the allegations. The charges against TikTok have not been confirmed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While cyber crimes and data theft cases are increasing worldwide, the concern of every citizen, company and country is now focused on how to maintain the privacy of their own and their users' data, record processing and security. Countries have gradually introduced data protection laws for their citizens. Nepal has failed in matters of data privacy and security. However, recently new technologies are being used in the fields of agriculture, energy, capital market etc that helps in the development of the New Economy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17529', 'image' => '20230508040147_new economy - Copy.jpg', 'article_date' => '2023-05-08 16:01:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17795', 'article_category_id' => '1', 'title' => 'Nabil Bank Limited Launches Nabil Dhukka Bachat Khata with Exciting Offers', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 8: Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Customers who open a Nabil Dhukka Bachat Khata account will have access to Medical Insurance worth NPR 100,000, GPA worth NPR 10,00,000, and Critical Illness Insurance worth NPR 3,75,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In addition to the insurance coverage, customers can enjoy a range of free services, such as debit card, credit card, nBank (Mobile Banking), C-ASBA, DMAT, Meroshare, and off-us ATM fee up to five times per month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Account holders can also benefit from the special facility of Nabil Fone Loan and enjoy a free locker facility for the first year, with a 50% discount available from the second year onwards. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the Nabil Dhukka Bachat Khata account offers an attractive interest rate of 7.40%, the highest in the market. Customers can open this account with a minimum balance of NPR 1,00,000.00 and start enjoying its many benefits right away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the launch of this feature-packed savings product, Nabil Bank aims to provide customers with a hassle-free banking experience and fulfill their banking needs comprehensively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17528', 'image' => '20230508033307_collage (13).jpg', 'article_date' => '2023-05-08 15:29:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17794', 'article_category_id' => '1', 'title' => 'KMC Starts Removing Unmanaged Cables from Streets of Kathmandu', 'sub_title' => '', 'summary' => 'May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. ', '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 Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The removal of cables is being done following an agreement between the KMC, the Nepal Electricity Authority and internet service providers on Sunday. The cable removal started from Maitighar Mandala and New Road area on Monday, said Superintendent of Police at the KMC, Manoj Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the KMC had asked the NEA and internet service providers to remove unmanaged cables from electric poles in Kathmandu within May 10. But, the Ministry of Communications and Information Technology issued a circular to the KMC not to remove cables that may disconnect internet service at local levels across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The meeting yesterday agreed to remove cables from today (Monday). So, the removal of cables has started," said Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting decided to manage unmanaged cables in various phases from several areas of the Kathmandu Valley, said the Internet Service Providers' Association of Nepal (ISPAN). As per the agreement, unmanaged cables, tangling and unused ones, would be removed from the electric poles in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17527', 'image' => '20230508031726_20230425021257_20221221014959_Untitled.jpg', 'article_date' => '2023-05-08 15:16:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17793', 'article_category_id' => '1', 'title' => 'Shree Airlines Plane makes Emergency Landing due to Technical Issue ', 'sub_title' => '', 'summary' => 'May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. ', '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: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 80-seater S-8 aircraft with flight number SHA 822 had to return back and make an emergency landing due to the technical issue. The aircraft took off from the Gautam Buddha Airport at around 9:40 am flew 20 miles when the crew members noticed the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Spokesperson of Tribhuvan International Airport, Teknath Niraula, there was an issue with the landing gear of the craft.</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 landing gear got stuck in the ground during the landing and was taken out following a maintenance. The flight has been already resumed,” said Niraula. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17526', 'image' => '20230508020354_shree air.jpg', 'article_date' => '2023-05-08 14:03:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17792', 'article_category_id' => '1', 'title' => 'Rescue Team Dispatched to Mugu Avalanche Site in a Helicopter ', 'sub_title' => '', 'summary' => 'May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting chief of the District Police Office, Mugu DSP Sudarshan Panthi said that a Nepalese Army helicopter carrying 20 persons, including security personnel, rescuers and relatives of the missing left for the avalanche site on Monday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though a group of police personnel from the Area Police Post, Mugu was dispatched to the avalanche site on May 5, it has not yet reached the destination, DSP Panthi said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said it had been difficult for the police team to reach the site due to lack of logistics. "It needs to pass through a snow-capped hill area to reach the site which is time consuming and difficult," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs sent a rescue team on the helicopter as it was time-taking for security personnel on ground to reach the site. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As many as 15 locals of Patarasi Rural Municipality-2, Talfigaun of Jumla had left for Patan to collect yarsagumba,a prized herb found in the Himalayas, through an illegal route. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Tara Singh Sarki, Punna Sarki and Bir Bohora had gone missing in the avalanche that took place at 1.00 pm on May 5 while they were ascending to the highland. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17525', 'image' => '20230508125302_maxresdefault.jpg', 'article_date' => '2023-05-08 12:51:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17791', 'article_category_id' => '1', 'title' => 'Transparency in Politics a Must to Improve Economy: Experts', 'sub_title' => '', 'summary' => 'May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. Most of the economists, bankers and experts participating in the Nepal Business Summit-2023 organized by the Confederation of Banks and Financial Institutions (CBIFIN) in Kathmandu on Sunday said that economy and politics cannot be considered apart from each other.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issues ranging from the current challenges faced by the economy to the future roadmap for prosperity, potential investment areas for Nepal's sustainable economy, challenges faced by Nepal's financial sector from a regional perspective and protection from this to strengthen the economy, Nepal's current situation and future path for socio-economic reforms were discussed separately during the summit. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the participants in the discussion emphasized that reforms in politics should be the first step for economic prosperity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to them, the Nepalese economy, which was improving from 1990 to 2001, started deteriorating after 2005. Experts say that despite the end of political crisis including the armed conflict in 2006, the lack of good governance has been the main factor behind the failure to improve the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist and member of the House of Representatives Dr Swornim Wagle said that after 2008 the structural balance is deteriorating. He pointed out the need for enterprise-friendly policies through reforms in the public expenditure system. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the same program, a member of the National Planning Commission, Dr Ramesh Chandra Poudel claimed that Nepal should have taken a leap in the manufacturing sector from 1990 to 2000, but nothing was done in that direction. According to Poudel, the country entered the service sector from agriculture abruptly, damaging the structure of the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dilip Agarwal, president of Worldlink, complained that the tax levied by the government on telecommunication service providers is excessive. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aanchal Kunwar, managing director of Daraz Nepal, emphasized the need for a stable policy in the context that online business is growing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of Muktinath Agricultural Company, Bharatraj Dhakal said that the agricultural sector cannot develop in Nepal unless there is a market guarantee for agricultural produce, but there is no market law yet. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, while inaugurating the summit, Prime Minister Pushpa Kamal Dahal claimed that the government is actively working for economic growth. He also claimed that there has been significant improvement in foreign exchange savings and foreign currency reserves in recent times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat said that a flexible monetary policy is necessary to end the problems seen in the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Maha Prasad Adhikari, governor of NRB, said that the central bank cannot carry more load than its capacity. He said, “There is a lot of expectation from NRB as other sectors have not been able to provide any support. Monetary policy has its own limits. Going off the limits can throw the entire banking system off the track.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17524', 'image' => '20230508121855_066A3780.jpg', 'article_date' => '2023-05-08 12:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17790', 'article_category_id' => '1', 'title' => 'Tukucha is a River but Property on Surface is Private: High Court ', 'sub_title' => '', 'summary' => 'May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. ', '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: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. </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"">A division bench of high court judges Mahesh Paudel and Rajy Laxmi Bajrachayra issued the verdict on Sunday stating that although the Tukucha is a river the houses and land above the underground river are private. So, the state must not breach individual property. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Tukucha (Ichchhumati) River is tributary of Bagmati River. So, the argument that Tukucha is drain is illogical," the verdict read. </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 court recognized the right of the government to manage rivers but also made it clear that the government cannot breach the rights of individuals by demolition of private structures. </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"">Bishwa Prakash Sakha from Kathmandu Metropolis-1 had filed a writ petition at High Court, after Kathmandu Metropolis excavated Tukucha River by damaging his property on September 15, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the High Court urged Kathmandu Metropolis to not damage personal property without seeking his consent or providing compensation to the landowner. The landowner has legal document including the land ownership certificate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Archaeology, the Tukucha river was covered some 130 years ago from Jay Nepal Hall to Kathmandu Plaza so that the river would not flood the structures built in those areas and also to avoid the foul smell.</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"">Following the court verdict, KMC Mayor Balen Shah tweeted that the metropolis has achieved success in the first phase of excavation of the river.</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 natural flow of the river should not be obstructed. Covering thr river shoud not be allowed…” he tweeted.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17523', 'image' => '20230508122201_1683445547.टुकुचा खोला.jpg', 'article_date' => '2023-05-08 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17789', 'article_category_id' => '1', 'title' => 'MPs Demand Govt to Unveil the report of Committee probing Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's parliamentarian Devendra Dahal urged to put an end to the controversy surrounding the fake Bhutanese refugee scam and unveil the report prepared by the commission formed to probe the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Criticizing that there was no investigation into the attempt of attack targeted at the team of UML Chairperson some days ago in Jhapa, Dahal blamed that the government was coming down against the opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that economic crisis could spur terrible situation in the country, he suggested to remain alert and aware about it before it is too late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He rued that the earlier bill session went in vain. "Not a single bill was endorsed. It passed away in the formation and reshuffling of the government," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal hit out that the incumbent government did not have the capability to come up with a framework to address the deteriorating national economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, President of <span style="font-family:"Arial Unicode MS","sans-serif"">Rastriya Prajatanra Party (RPP) Rajendra Lingden also demanded that the culprits involved in sending Nepalis abroad in the guise of Bhutanese refugees should be brought to book. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the inauguration of the first unity assembly of the National Democratic Women Association close to the RPP on Sunday, leader Lingden said that such criminal activities could not be pardoned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Demanding an impartial investigation into the scam, he warned that such fraudulent scam held at the behest of political power could be influenced and the culprits could go off scot-free. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17522', 'image' => '20230508110326_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 11:02:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17788', 'article_category_id' => '1', 'title' => 'US May Default If Debt Ceiling Is Not Raised: US Treasury Secretary ', 'sub_title' => '', 'summary' => 'US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early June.', 'content' => '<p><span style="font-size:18px">May 8: US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences.<br /> Without an agreement to increase what the federal government can borrow, it could run out of money by early June.</span></p> <p><span style="font-size:18px">At that point the federal government might not be able to make wage, welfare and other payments.<br /> "It's Congress's job to do this. If they fail to do it, we will have an economic and financial catastrophe that will be of our own making," she said.</span></p> <p><span style="font-size:18px">In an interview with ABC News on Sunday Ms Yellen said debt ceiling negotiations should not take place "with a gun to the head of the American people." But time is running out for an agreement.</span></p> <p><span style="font-size:18px">On Tuesday President Biden will meet Republican leaders to ask them to agree to raising the current $31.4tn (£25.12tn) limit.<br /> Congress typically ties approval of a higher debt ceiling to stipulations on budget and spending measures.</span></p> <p><span style="font-size:18px">Last month the House of Representatives passed a bill to raise the ceiling, currently roughly equal to 120% of the country's annual economic output, but included in the bill sweeping spending cuts over the next decade.</span></p> <p><span style="font-size:18px">President Biden wants Congress to agree to raise the debt ceiling, with no conditions. President Biden has said he will not negotiate over the increase and will discuss budget cuts after the issue is resolved.</span></p> <p><span style="font-size:18px">Failure to find cross-party agreement on the issue could result in a "constitutional crisis" Ms Yellen said.<br /> The Biden administration is considering whether there is scope within the constitution for the president to continue issuing new debt without the approval of Congress, but will this week strive to avoid that scenario.</span></p> <p><span style="font-size:18px">"We should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis," Ms Yellen told ABC.</span></p> <p><span style="font-size:18px">The debt ceiling has been raised, extended or revised 78 times since 1960, often with negotiations going down to the wire.<br /> In the end, the threat of a default on government payments including debt obligations has always led to compromise. The US has never defaulted, an event that would upend global financial markets and have far-reaching economic impacts. But delaying a resolution also had negative consequences, Ms Yellen said in a letter to Congress last week.</span></p> <p><span style="font-size:18px">"We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States," she wrote. ------BBC </span><br /> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17521', 'image' => '20230508060727_collage (4).jpg', 'article_date' => '2023-05-08 06:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '17787', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament Kicks Off', 'sub_title' => '', 'summary' => 'May 7: The budget session of federal parliament kicked off on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: The budget session of federal parliament kicked off on Sunday. The budget session called by President Ram Chandra Paudel as per Article 91 (1) of the Constitution began its business at the Parliament Building at 4pm on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meetings of both the National Assembly and House of Representatives kicked off with the beginning of the budget session. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, on behalf of the government, presented the appropriation bill on Sunday. With the beginning of the session, a pre-budget discussion would be held. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Presenting a proposal seeking deliberations on the principles and priorities of appropriation bill (except tax) for fiscal year, 2080/81, Finance Minister Mahat said that the budget would be brought by paying attention to make the economy dynamic and ensuring inclusive economic growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the national economy has been showing positive signs with the increase in tourism activities, remittance inflow and foreign currency reserve despite challenges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to bring economy back on track, the government must maintain strict discipline in current expenditure and capital expenditure,” said Minister Mahat. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17520', 'image' => '20230507083422_PRO-KTM-6F8A4462.jpg', 'article_date' => '2023-05-07 20:33:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17786', 'article_category_id' => '1', 'title' => 'Nepali Immigrant Raj Bhandari’s Sciencix Wins 2023 Exporter of the Year Award from US SBA', 'sub_title' => '', 'summary' => ' Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.', 'content' => '<p><br /> <span style="font-size:18px">May 7: Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.</span></p> <p><span style="font-size:18px">The company, which specializes in manufacturing high-performance liquid chromatography and mass spectrometry parts, was recognized for its achievements in expanding its global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Sciencix’s success in exporting has been attributed to the company’s use of SBA’s trade tools, including the State Trade Expansion Program (STEP) grant funding. With the support of North Carolina’s Small Business and Technology Development Center (SBTDC), Sciencix secured $24,000 in STEP grant funding in 2021, which was used to offset the costs of attending international trade shows, meeting overseas distributors, and website internationalization.</span></p> <p><span style="font-size:18px">Sciencix’s exports now account for one-third of its total sales, representing a 10 percent increase from the previous year. Its products are used in research laboratories in over 100 countries across all continents.</span></p> <p><span style="font-size:18px">The Exporter of the Year Award was presented to Bhandari and the Sciencix team during the National Small Business Week event, which took place from April 30 to May 2 in Washington, DC. The event is an annual celebration of the achievements and contributions of small businesses across the nation.</span></p> <p><span style="font-size:18px">In honor of National Small Business Week, President Biden and Vice President Harris hosted small business award winners from across the country at the White House to celebrate their contributions to the economy. President Joe Biden and Vice President Kamala Harris congratulated the Sciencix team on their success.</span></p> <p><span style="font-size:18px">Raj Bhandari, the owner of Sciencix, along with Operations Manager Ranjan Karki and Director of Global Marketing Lisa Bamford, were recognized for their leadership in expanding the company’s global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, praised Sciencix for its innovative approach to growing its business worldwide, and for using the tools and resources available to small businesses to drive competition and innovation.</span></p> <p><span style="font-size:18px">The company’s success story also highlights the importance of ongoing outreach to diaspora communities, as well as the valuable role played by the STEP grant program in supporting small businesses to start or grow their exports. --NEPYORK </span><br /> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17519', 'image' => '20230507053725_collage (12).jpg', 'article_date' => '2023-05-07 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17785', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 1.09% on Sunday; Investors Lose Around 70% From All-time High', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 7: The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This marks a loss of 19.12 points against gains of 12 points last Thursday. Investors who entered the market when the index touched an all-time high of 3200 have now lost around 70%.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts and long-time investors on NEPSE attribute this to the market's sensitivity to news and information, with traders and investors having a habit of selling even at the slightest negative news. However, experienced investors suggest purchasing when the market is down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 263 scrips traded hands via 23,051 transactions, with 2,015,959 shares exchanged hands amounting to Rs. 60.81 crores in turnover amount. This is lower than the last trading day's turnover of Rs. 73.26 Crores.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shivam Cements LImited (SHIVM) shares traded the most and had the highest turnover of Rs. 3.22 crores, closing at a market price of Rs. 400 per share. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) gained the highest 8.22% for the day, while NMB Debenture 8.50% - 2087/88 (NMBD87/88) lost the highest 8.83% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All sector indices closed red, with "Hydropower" losing the highest 2.04% while "Mutual Fund" lost the least 0.05% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the Sensitive Index fell by 0.885, while Float Index and Sensitive Float Index declined by 0.995 and 0.85%, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts say that NEPSE will catch its rhythm if the Nepal Rastra Bank makes some policy-level changes for the sharemarket. </span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17518', 'image' => '20230507043148_collage (3).jpg', 'article_date' => '2023-05-07 16:28:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17784', 'article_category_id' => '1', 'title' => 'Prospects of Indian Investment in Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'May 7: Since Nepal is a close neighbor of India, its partnership is vital for the development of Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 7: Since Nepal is a close neighbor of India, its partnership is vital for the development of Nepal. India has been providing direct and indirect investments and support in various areas of Nepal. However, there have been many arguments regarding Indian investment in the hydropower sector, which is considered to be a potential source of income for Nepal. Especially, there is no consensus on whether the current Indian investment is enough or too little.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Electricity Authority (NEA), so far, India has invested in seven hydropower projects with a total capacity of 3,491 megawatts. The hydropower projects in Nepal with Indian investment are in three stages: obtaining survey license, obtaining construction license and under construction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to NEA, during the dry season, the demand for electricity in Nepal is 1,750 megawatts in peak hour while the minimum demand is 1,200 megawatts and 1,300 megawatts in average. Since most of the hydropower projects currently in operation in Nepal are based on river flow system, the country needs to import electricity from India to meet the domestic demand during the dry season while it sells surplus electricity to India during the rainy season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to lack of investment, large hydropower projects have not been built in Nepal. China has shown interest in investing in hydropower projects in Nepal. But, India has adopted a policy of not buying electricity from hydropower projects built in Nepal with the investment of neighboring countries, especially China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In such a situation, it seems that Chinese investment projects will not be able to enter the easy and accessible electricity market in India. Apart from China, the investment projects of other foreign countries also having lots of difficulties to enter the Indian market. Projects developed with Indian investment do not have to face this kind of trouble.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Indian investment will ensure that there won’t be lack of funds and there will be no problem in selling the produced electricity. The Indian government has committed to expand the use of green energy. There is a huge demand for energy in India and sufficient resources for investment but there is not enough investment coming from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Foreign investment expert Radhesh Panta says that Indian investment is not coming as expected due to Nepal's weakness.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“In order to attract investment in hydropower sector, there is a need for some kind of understanding at the top political level. However, there has not been much effort from Nepal. The subject of investment is also politicized. The tendency to view India with suspicion, seems to have emerged from the misconception that India will capture Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that the government should work on bringing in investment as a top priority, he added, “The government should stop bragging about having a good policy. It should first address the concerns of the investors and their wishes should be heard.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there is a lot of competition, investors are not forced to invest in one country. Therefore, Panta believes that the government of Nepal should also develop its competitiveness.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17517', 'image' => '20230507041618_hydro.jpg', 'article_date' => '2023-05-07 16:15:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17782', 'article_category_id' => '1', 'title' => 'Economic Problems will be Resolved through Monetary Policy: Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'May 7: Finance Minister Dr Prakash Sharan Mahat has said the current economic problems could be resolved through the monetary policy instead of the fiscal policy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: Finance Minister Dr Prakash Sharan Mahat has said the current economic problems could be resolved through the monetary policy instead of the fiscal policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the Nepal Trade Summit-2023 organised by the Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) on Sunday, Finance Minister Mahat said initiatives would be taken to resolve the problems through the monetary policy as the government lacks options to run the fiscal policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The implementation of the fiscal policy could not increase. We are unable to flow capital through the fiscal policy. We lack resources to increase fiscal spaces," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is not in a situation wherein it can do work through the fiscal policy as the revenue collection is very low, he said, adding, "The Nepal Rastra Bank is at work to review the fiscal policy towards mid-May. Bank interest rates could be reduced through monetary equipment. We must focus on creating a climate of investment by decreasing interest rates through monetary tools." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He admitted that the government could not effectively spend development budget on time. Saying that the economy could not be dynamic due to the failure to increase capital expenditure and low revenue collection, he stressed the need for creating a mechanism that would ensure capital expenditure since the very beginning of the next fiscal year (FY 2023/24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Now, it seems the economy is weak and in problem. Internal trade and business is weak. Inflation is under control. But, there are problems. Industries and trade are in crisis due to bank interest rates. Revenue collection is not satisfactory as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the government's efforts alone could not be enough, he called for all sectors to come together for improving the economy. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17516', 'image' => '20230507035138_1683446673.महत.jpg', 'article_date' => '2023-05-07 15:51:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17781', 'article_category_id' => '1', 'title' => 'New Business Age Organises Training for Startups', 'sub_title' => '', 'summary' => 'May 7: New Business Age organized a training for startups on Friday with the objective of learning and sharing the experiences of startups.', '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 7: New Business Age organized a training for startups on Friday with the objective of learning and sharing the experiences of startups.</span></span></span></span></p> <p><span style="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 total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> startup entrepreneurs participated in the training programme held in Kathmandu.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashutosh Tiwari, founder of Safal Partners, was the resource person/trainer for the special training given to the startups.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari said that startup entrepreneurs should develop a habit of questioning to establish direct contact with the consumers. Stating that the habit of asking questions can help them get along with consumers and the rest of the world, he said that the habit of not asking questions of entrepreneurs in Nepal is not good.</span></span></span></span></p> <p><span style="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 starting a startup, you should start only by learning. To move forward, you should stand on reality, you should not make decisions based on imagination,” said Tiwari, the founder of Safal Partners, adding, "You have to learn from experience. You should never stop learning, you should always embrace the habit of learning. You should always strive to learn what is necessary for your business from successful and experienced people.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Emphasizing on the need to modify his products with time, Tiwari opined that the products become better as they are modified while timely changes will help to keep the products in the market for a long 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","sans-serif"">He said that since the current market is competitive, special attention should be given to service and continuous marketing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“All these things require a suitable team. A team should be formed to focus on that kind of work,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari, the founder of Safal Partners, emphasized that startups should look at the legal and financial sectors with special importance. Otherwise, he says, there may be a situation where startups will have to face various problems.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari said that although there is some trouble in raising investment for startups in Nepal, it is not impossible.</span></span></span></span></p> <p><span style="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 startup entrepreneurs participating in the training program shared their questions, problems and experiences. They also expressed their gratitude to New Business Edge for the opportunity to learn many new things from the startup training programme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the special training programme organized for startups, Editor-in-Chief of New Business Age Madan Lamsal said that the programme was conducted with the aim of encouraging startups. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“It is the responsibility of financial media to encourage startups. As the duty of a media organization related to the field of business and economy, we organized a training programme for entrepreneurs who are operating startups in a difficult environment of Nepal,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">New Business Age is conducting 'Startup Summit and Award-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2023</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. In this, the best startup entrepreneurs selected from among </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">startups from across the country will be awarded in three</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">different categories. This year, the slogan of the 'Startup Summit and Awards' to be organised by New Business Age is ‘Towards Startup Nation’.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17515', 'image' => '20230507015407_1683359190.jpg', 'article_date' => '2023-05-07 13:53:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17796', 'article_category_id' => '1', 'title' => 'New Business Age's 22nd Anniversary Special: The New Economy', 'sub_title' => '', 'summary' => 'May 8: When people hear the term 'New Economy', many still get confused, what it actually means.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 8: When people hear the term 'New Economy', many still get confused, what it actually means. However, the concept of the New Economy did not emerge suddenly. The new economy is defined as a new type of economy created by information, technology, the Internet, and ultra-high-tech companies. It is driven by technology-based industries with high economic growth rates. In this type of economy, the economic growth rate and productivity are made sustainable by advanced technology. Compared to the traditional economy, productivity is much higher. The economic growth rate is also very high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The concept of the New Economy came in the late 1990s when the use of the Internet and powerful computers began to change and shape the dimensions of the consumer and the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This has been especially linked to the boom in the share price of the technology sector in the late 90s and early 2000s. It started in the US. In the next few years, it reached other developed economies. In the next decade, a similar economic transformation was seen in many emerging economies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In simpler terms, an economy based on products and commodities gradually focuses on technology, and an economy in which technology is widely used in the creation of new goods and services is the New Economy. Its production cannot be matched by the traditional production-oriented economy. Nowadays, high-tech and the internet have changed every part of our daily life, including the way we work and spend time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">On the other hand, it has also changed the basic rules of economics. The increasing use of automation and robots has increased the possibility of losing millions of manual labour jobs. Equally, there is a situation where new jobs will be created. The way we shop, the way we travel has changed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Whether we are in the New Economy or yet to reach it is still a matter of controversy. A large group of economists are saying that we have now reached the New Economy. However, a small group is raising questions on this. Some economists say that in the New Economy, inflation will disappear, business cycles will not exist and the old rules of economics will not apply. Most economists are not ready to accept this as such claims have been made many times in the past. They argue that regardless of the situation, the basic rules of economics will not change.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The companies that form the backbone of the new economic system are many times larger than most of the world's economies. Companies have lost billions of dollars in the blink of an eye when a technology-based company's stock price bubble bursts. Hundreds of companies have gone bankrupt.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the companies that have survived till now have turned into innovative companies with cutting-edge technology. Most of the businesses in the new economy are involved in online activities and the biotechnology industry. It has spawned thousands of other industries. Currently, three of the top five companies with the highest market capitalization in the world are Apple, Google and Microsoft. In the 1980s, oil and car companies were on this list.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Over the past few years, online service providers or online-based companies have turned into multinational companies. Amazon, Facebook, Netflix, Alibaba, Payatu, Uber, and Tencent are just a few examples. The New Economy has not only changed the economic environment of the world but also restructured global capitalism. Capitalism has begun to focus on social, environmental and sustainable development goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Once upon a time, countries used to fight for oil or mineral production. Now the main topic of contention is consumer data and its security. The cold war that has been going on between the US and China for the past few years is also focused on data. Consumer data is at the core of everyone's problems, whether it's a business debate or a technology battle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The US and countries leaning towards the US are accusing China of spying on citizens of other countries through domestic technology companies and transferring consumer data to China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">An example of this is the growing worldwide ban on the Chinese short video-sharing app TikTok. China has denied the allegations. The charges against TikTok have not been confirmed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While cyber crimes and data theft cases are increasing worldwide, the concern of every citizen, company and country is now focused on how to maintain the privacy of their own and their users' data, record processing and security. Countries have gradually introduced data protection laws for their citizens. Nepal has failed in matters of data privacy and security. However, recently new technologies are being used in the fields of agriculture, energy, capital market etc that helps in the development of the New Economy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17529', 'image' => '20230508040147_new economy - Copy.jpg', 'article_date' => '2023-05-08 16:01:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17795', 'article_category_id' => '1', 'title' => 'Nabil Bank Limited Launches Nabil Dhukka Bachat Khata with Exciting Offers', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 8: Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Customers who open a Nabil Dhukka Bachat Khata account will have access to Medical Insurance worth NPR 100,000, GPA worth NPR 10,00,000, and Critical Illness Insurance worth NPR 3,75,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In addition to the insurance coverage, customers can enjoy a range of free services, such as debit card, credit card, nBank (Mobile Banking), C-ASBA, DMAT, Meroshare, and off-us ATM fee up to five times per month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Account holders can also benefit from the special facility of Nabil Fone Loan and enjoy a free locker facility for the first year, with a 50% discount available from the second year onwards. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the Nabil Dhukka Bachat Khata account offers an attractive interest rate of 7.40%, the highest in the market. Customers can open this account with a minimum balance of NPR 1,00,000.00 and start enjoying its many benefits right away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the launch of this feature-packed savings product, Nabil Bank aims to provide customers with a hassle-free banking experience and fulfill their banking needs comprehensively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17528', 'image' => '20230508033307_collage (13).jpg', 'article_date' => '2023-05-08 15:29:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17794', 'article_category_id' => '1', 'title' => 'KMC Starts Removing Unmanaged Cables from Streets of Kathmandu', 'sub_title' => '', 'summary' => 'May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. ', '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 Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The removal of cables is being done following an agreement between the KMC, the Nepal Electricity Authority and internet service providers on Sunday. The cable removal started from Maitighar Mandala and New Road area on Monday, said Superintendent of Police at the KMC, Manoj Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the KMC had asked the NEA and internet service providers to remove unmanaged cables from electric poles in Kathmandu within May 10. But, the Ministry of Communications and Information Technology issued a circular to the KMC not to remove cables that may disconnect internet service at local levels across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The meeting yesterday agreed to remove cables from today (Monday). So, the removal of cables has started," said Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting decided to manage unmanaged cables in various phases from several areas of the Kathmandu Valley, said the Internet Service Providers' Association of Nepal (ISPAN). As per the agreement, unmanaged cables, tangling and unused ones, would be removed from the electric poles in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17527', 'image' => '20230508031726_20230425021257_20221221014959_Untitled.jpg', 'article_date' => '2023-05-08 15:16:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17793', 'article_category_id' => '1', 'title' => 'Shree Airlines Plane makes Emergency Landing due to Technical Issue ', 'sub_title' => '', 'summary' => 'May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. ', '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: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 80-seater S-8 aircraft with flight number SHA 822 had to return back and make an emergency landing due to the technical issue. The aircraft took off from the Gautam Buddha Airport at around 9:40 am flew 20 miles when the crew members noticed the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Spokesperson of Tribhuvan International Airport, Teknath Niraula, there was an issue with the landing gear of the craft.</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 landing gear got stuck in the ground during the landing and was taken out following a maintenance. The flight has been already resumed,” said Niraula. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17526', 'image' => '20230508020354_shree air.jpg', 'article_date' => '2023-05-08 14:03:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17792', 'article_category_id' => '1', 'title' => 'Rescue Team Dispatched to Mugu Avalanche Site in a Helicopter ', 'sub_title' => '', 'summary' => 'May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting chief of the District Police Office, Mugu DSP Sudarshan Panthi said that a Nepalese Army helicopter carrying 20 persons, including security personnel, rescuers and relatives of the missing left for the avalanche site on Monday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though a group of police personnel from the Area Police Post, Mugu was dispatched to the avalanche site on May 5, it has not yet reached the destination, DSP Panthi said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said it had been difficult for the police team to reach the site due to lack of logistics. "It needs to pass through a snow-capped hill area to reach the site which is time consuming and difficult," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs sent a rescue team on the helicopter as it was time-taking for security personnel on ground to reach the site. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As many as 15 locals of Patarasi Rural Municipality-2, Talfigaun of Jumla had left for Patan to collect yarsagumba,a prized herb found in the Himalayas, through an illegal route. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Tara Singh Sarki, Punna Sarki and Bir Bohora had gone missing in the avalanche that took place at 1.00 pm on May 5 while they were ascending to the highland. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17525', 'image' => '20230508125302_maxresdefault.jpg', 'article_date' => '2023-05-08 12:51:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17791', 'article_category_id' => '1', 'title' => 'Transparency in Politics a Must to Improve Economy: Experts', 'sub_title' => '', 'summary' => 'May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. Most of the economists, bankers and experts participating in the Nepal Business Summit-2023 organized by the Confederation of Banks and Financial Institutions (CBIFIN) in Kathmandu on Sunday said that economy and politics cannot be considered apart from each other.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issues ranging from the current challenges faced by the economy to the future roadmap for prosperity, potential investment areas for Nepal's sustainable economy, challenges faced by Nepal's financial sector from a regional perspective and protection from this to strengthen the economy, Nepal's current situation and future path for socio-economic reforms were discussed separately during the summit. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the participants in the discussion emphasized that reforms in politics should be the first step for economic prosperity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to them, the Nepalese economy, which was improving from 1990 to 2001, started deteriorating after 2005. Experts say that despite the end of political crisis including the armed conflict in 2006, the lack of good governance has been the main factor behind the failure to improve the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist and member of the House of Representatives Dr Swornim Wagle said that after 2008 the structural balance is deteriorating. He pointed out the need for enterprise-friendly policies through reforms in the public expenditure system. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the same program, a member of the National Planning Commission, Dr Ramesh Chandra Poudel claimed that Nepal should have taken a leap in the manufacturing sector from 1990 to 2000, but nothing was done in that direction. According to Poudel, the country entered the service sector from agriculture abruptly, damaging the structure of the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dilip Agarwal, president of Worldlink, complained that the tax levied by the government on telecommunication service providers is excessive. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aanchal Kunwar, managing director of Daraz Nepal, emphasized the need for a stable policy in the context that online business is growing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of Muktinath Agricultural Company, Bharatraj Dhakal said that the agricultural sector cannot develop in Nepal unless there is a market guarantee for agricultural produce, but there is no market law yet. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, while inaugurating the summit, Prime Minister Pushpa Kamal Dahal claimed that the government is actively working for economic growth. He also claimed that there has been significant improvement in foreign exchange savings and foreign currency reserves in recent times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat said that a flexible monetary policy is necessary to end the problems seen in the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Maha Prasad Adhikari, governor of NRB, said that the central bank cannot carry more load than its capacity. He said, “There is a lot of expectation from NRB as other sectors have not been able to provide any support. Monetary policy has its own limits. Going off the limits can throw the entire banking system off the track.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17524', 'image' => '20230508121855_066A3780.jpg', 'article_date' => '2023-05-08 12:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17790', 'article_category_id' => '1', 'title' => 'Tukucha is a River but Property on Surface is Private: High Court ', 'sub_title' => '', 'summary' => 'May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. ', '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: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. </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"">A division bench of high court judges Mahesh Paudel and Rajy Laxmi Bajrachayra issued the verdict on Sunday stating that although the Tukucha is a river the houses and land above the underground river are private. So, the state must not breach individual property. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Tukucha (Ichchhumati) River is tributary of Bagmati River. So, the argument that Tukucha is drain is illogical," the verdict read. </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 court recognized the right of the government to manage rivers but also made it clear that the government cannot breach the rights of individuals by demolition of private structures. </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"">Bishwa Prakash Sakha from Kathmandu Metropolis-1 had filed a writ petition at High Court, after Kathmandu Metropolis excavated Tukucha River by damaging his property on September 15, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the High Court urged Kathmandu Metropolis to not damage personal property without seeking his consent or providing compensation to the landowner. The landowner has legal document including the land ownership certificate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Archaeology, the Tukucha river was covered some 130 years ago from Jay Nepal Hall to Kathmandu Plaza so that the river would not flood the structures built in those areas and also to avoid the foul smell.</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"">Following the court verdict, KMC Mayor Balen Shah tweeted that the metropolis has achieved success in the first phase of excavation of the river.</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 natural flow of the river should not be obstructed. Covering thr river shoud not be allowed…” he tweeted.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17523', 'image' => '20230508122201_1683445547.टुकुचा खोला.jpg', 'article_date' => '2023-05-08 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17789', 'article_category_id' => '1', 'title' => 'MPs Demand Govt to Unveil the report of Committee probing Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's parliamentarian Devendra Dahal urged to put an end to the controversy surrounding the fake Bhutanese refugee scam and unveil the report prepared by the commission formed to probe the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Criticizing that there was no investigation into the attempt of attack targeted at the team of UML Chairperson some days ago in Jhapa, Dahal blamed that the government was coming down against the opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that economic crisis could spur terrible situation in the country, he suggested to remain alert and aware about it before it is too late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He rued that the earlier bill session went in vain. "Not a single bill was endorsed. It passed away in the formation and reshuffling of the government," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal hit out that the incumbent government did not have the capability to come up with a framework to address the deteriorating national economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, President of <span style="font-family:"Arial Unicode MS","sans-serif"">Rastriya Prajatanra Party (RPP) Rajendra Lingden also demanded that the culprits involved in sending Nepalis abroad in the guise of Bhutanese refugees should be brought to book. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the inauguration of the first unity assembly of the National Democratic Women Association close to the RPP on Sunday, leader Lingden said that such criminal activities could not be pardoned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Demanding an impartial investigation into the scam, he warned that such fraudulent scam held at the behest of political power could be influenced and the culprits could go off scot-free. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17522', 'image' => '20230508110326_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 11:02:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17788', 'article_category_id' => '1', 'title' => 'US May Default If Debt Ceiling Is Not Raised: US Treasury Secretary ', 'sub_title' => '', 'summary' => 'US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early June.', 'content' => '<p><span style="font-size:18px">May 8: US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences.<br /> Without an agreement to increase what the federal government can borrow, it could run out of money by early June.</span></p> <p><span style="font-size:18px">At that point the federal government might not be able to make wage, welfare and other payments.<br /> "It's Congress's job to do this. If they fail to do it, we will have an economic and financial catastrophe that will be of our own making," she said.</span></p> <p><span style="font-size:18px">In an interview with ABC News on Sunday Ms Yellen said debt ceiling negotiations should not take place "with a gun to the head of the American people." But time is running out for an agreement.</span></p> <p><span style="font-size:18px">On Tuesday President Biden will meet Republican leaders to ask them to agree to raising the current $31.4tn (£25.12tn) limit.<br /> Congress typically ties approval of a higher debt ceiling to stipulations on budget and spending measures.</span></p> <p><span style="font-size:18px">Last month the House of Representatives passed a bill to raise the ceiling, currently roughly equal to 120% of the country's annual economic output, but included in the bill sweeping spending cuts over the next decade.</span></p> <p><span style="font-size:18px">President Biden wants Congress to agree to raise the debt ceiling, with no conditions. President Biden has said he will not negotiate over the increase and will discuss budget cuts after the issue is resolved.</span></p> <p><span style="font-size:18px">Failure to find cross-party agreement on the issue could result in a "constitutional crisis" Ms Yellen said.<br /> The Biden administration is considering whether there is scope within the constitution for the president to continue issuing new debt without the approval of Congress, but will this week strive to avoid that scenario.</span></p> <p><span style="font-size:18px">"We should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis," Ms Yellen told ABC.</span></p> <p><span style="font-size:18px">The debt ceiling has been raised, extended or revised 78 times since 1960, often with negotiations going down to the wire.<br /> In the end, the threat of a default on government payments including debt obligations has always led to compromise. The US has never defaulted, an event that would upend global financial markets and have far-reaching economic impacts. But delaying a resolution also had negative consequences, Ms Yellen said in a letter to Congress last week.</span></p> <p><span style="font-size:18px">"We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States," she wrote. ------BBC </span><br /> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17521', 'image' => '20230508060727_collage (4).jpg', 'article_date' => '2023-05-08 06:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '17787', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament Kicks Off', 'sub_title' => '', 'summary' => 'May 7: The budget session of federal parliament kicked off on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: The budget session of federal parliament kicked off on Sunday. The budget session called by President Ram Chandra Paudel as per Article 91 (1) of the Constitution began its business at the Parliament Building at 4pm on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meetings of both the National Assembly and House of Representatives kicked off with the beginning of the budget session. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, on behalf of the government, presented the appropriation bill on Sunday. With the beginning of the session, a pre-budget discussion would be held. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Presenting a proposal seeking deliberations on the principles and priorities of appropriation bill (except tax) for fiscal year, 2080/81, Finance Minister Mahat said that the budget would be brought by paying attention to make the economy dynamic and ensuring inclusive economic growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the national economy has been showing positive signs with the increase in tourism activities, remittance inflow and foreign currency reserve despite challenges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to bring economy back on track, the government must maintain strict discipline in current expenditure and capital expenditure,” said Minister Mahat. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17520', 'image' => '20230507083422_PRO-KTM-6F8A4462.jpg', 'article_date' => '2023-05-07 20:33:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17786', 'article_category_id' => '1', 'title' => 'Nepali Immigrant Raj Bhandari’s Sciencix Wins 2023 Exporter of the Year Award from US SBA', 'sub_title' => '', 'summary' => ' Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.', 'content' => '<p><br /> <span style="font-size:18px">May 7: Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.</span></p> <p><span style="font-size:18px">The company, which specializes in manufacturing high-performance liquid chromatography and mass spectrometry parts, was recognized for its achievements in expanding its global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Sciencix’s success in exporting has been attributed to the company’s use of SBA’s trade tools, including the State Trade Expansion Program (STEP) grant funding. With the support of North Carolina’s Small Business and Technology Development Center (SBTDC), Sciencix secured $24,000 in STEP grant funding in 2021, which was used to offset the costs of attending international trade shows, meeting overseas distributors, and website internationalization.</span></p> <p><span style="font-size:18px">Sciencix’s exports now account for one-third of its total sales, representing a 10 percent increase from the previous year. Its products are used in research laboratories in over 100 countries across all continents.</span></p> <p><span style="font-size:18px">The Exporter of the Year Award was presented to Bhandari and the Sciencix team during the National Small Business Week event, which took place from April 30 to May 2 in Washington, DC. The event is an annual celebration of the achievements and contributions of small businesses across the nation.</span></p> <p><span style="font-size:18px">In honor of National Small Business Week, President Biden and Vice President Harris hosted small business award winners from across the country at the White House to celebrate their contributions to the economy. President Joe Biden and Vice President Kamala Harris congratulated the Sciencix team on their success.</span></p> <p><span style="font-size:18px">Raj Bhandari, the owner of Sciencix, along with Operations Manager Ranjan Karki and Director of Global Marketing Lisa Bamford, were recognized for their leadership in expanding the company’s global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, praised Sciencix for its innovative approach to growing its business worldwide, and for using the tools and resources available to small businesses to drive competition and innovation.</span></p> <p><span style="font-size:18px">The company’s success story also highlights the importance of ongoing outreach to diaspora communities, as well as the valuable role played by the STEP grant program in supporting small businesses to start or grow their exports. --NEPYORK </span><br /> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17519', 'image' => '20230507053725_collage (12).jpg', 'article_date' => '2023-05-07 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17785', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 1.09% on Sunday; Investors Lose Around 70% From All-time High', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 7: The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This marks a loss of 19.12 points against gains of 12 points last Thursday. Investors who entered the market when the index touched an all-time high of 3200 have now lost around 70%.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts and long-time investors on NEPSE attribute this to the market's sensitivity to news and information, with traders and investors having a habit of selling even at the slightest negative news. However, experienced investors suggest purchasing when the market is down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 263 scrips traded hands via 23,051 transactions, with 2,015,959 shares exchanged hands amounting to Rs. 60.81 crores in turnover amount. This is lower than the last trading day's turnover of Rs. 73.26 Crores.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shivam Cements LImited (SHIVM) shares traded the most and had the highest turnover of Rs. 3.22 crores, closing at a market price of Rs. 400 per share. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) gained the highest 8.22% for the day, while NMB Debenture 8.50% - 2087/88 (NMBD87/88) lost the highest 8.83% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All sector indices closed red, with "Hydropower" losing the highest 2.04% while "Mutual Fund" lost the least 0.05% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the Sensitive Index fell by 0.885, while Float Index and Sensitive Float Index declined by 0.995 and 0.85%, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts say that NEPSE will catch its rhythm if the Nepal Rastra Bank makes some policy-level changes for the sharemarket. </span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17518', 'image' => '20230507043148_collage (3).jpg', 'article_date' => '2023-05-07 16:28:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17784', 'article_category_id' => '1', 'title' => 'Prospects of Indian Investment in Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'May 7: Since Nepal is a close neighbor of India, its partnership is vital for the development of Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 7: Since Nepal is a close neighbor of India, its partnership is vital for the development of Nepal. India has been providing direct and indirect investments and support in various areas of Nepal. However, there have been many arguments regarding Indian investment in the hydropower sector, which is considered to be a potential source of income for Nepal. Especially, there is no consensus on whether the current Indian investment is enough or too little.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Electricity Authority (NEA), so far, India has invested in seven hydropower projects with a total capacity of 3,491 megawatts. The hydropower projects in Nepal with Indian investment are in three stages: obtaining survey license, obtaining construction license and under construction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to NEA, during the dry season, the demand for electricity in Nepal is 1,750 megawatts in peak hour while the minimum demand is 1,200 megawatts and 1,300 megawatts in average. Since most of the hydropower projects currently in operation in Nepal are based on river flow system, the country needs to import electricity from India to meet the domestic demand during the dry season while it sells surplus electricity to India during the rainy season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to lack of investment, large hydropower projects have not been built in Nepal. China has shown interest in investing in hydropower projects in Nepal. But, India has adopted a policy of not buying electricity from hydropower projects built in Nepal with the investment of neighboring countries, especially China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In such a situation, it seems that Chinese investment projects will not be able to enter the easy and accessible electricity market in India. Apart from China, the investment projects of other foreign countries also having lots of difficulties to enter the Indian market. Projects developed with Indian investment do not have to face this kind of trouble.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Indian investment will ensure that there won’t be lack of funds and there will be no problem in selling the produced electricity. The Indian government has committed to expand the use of green energy. There is a huge demand for energy in India and sufficient resources for investment but there is not enough investment coming from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Foreign investment expert Radhesh Panta says that Indian investment is not coming as expected due to Nepal's weakness.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“In order to attract investment in hydropower sector, there is a need for some kind of understanding at the top political level. However, there has not been much effort from Nepal. The subject of investment is also politicized. The tendency to view India with suspicion, seems to have emerged from the misconception that India will capture Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that the government should work on bringing in investment as a top priority, he added, “The government should stop bragging about having a good policy. It should first address the concerns of the investors and their wishes should be heard.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there is a lot of competition, investors are not forced to invest in one country. Therefore, Panta believes that the government of Nepal should also develop its competitiveness.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17517', 'image' => '20230507041618_hydro.jpg', 'article_date' => '2023-05-07 16:15:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17782', 'article_category_id' => '1', 'title' => 'Economic Problems will be Resolved through Monetary Policy: Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'May 7: Finance Minister Dr Prakash Sharan Mahat has said the current economic problems could be resolved through the monetary policy instead of the fiscal policy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: Finance Minister Dr Prakash Sharan Mahat has said the current economic problems could be resolved through the monetary policy instead of the fiscal policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the Nepal Trade Summit-2023 organised by the Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) on Sunday, Finance Minister Mahat said initiatives would be taken to resolve the problems through the monetary policy as the government lacks options to run the fiscal policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The implementation of the fiscal policy could not increase. We are unable to flow capital through the fiscal policy. We lack resources to increase fiscal spaces," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is not in a situation wherein it can do work through the fiscal policy as the revenue collection is very low, he said, adding, "The Nepal Rastra Bank is at work to review the fiscal policy towards mid-May. Bank interest rates could be reduced through monetary equipment. We must focus on creating a climate of investment by decreasing interest rates through monetary tools." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He admitted that the government could not effectively spend development budget on time. Saying that the economy could not be dynamic due to the failure to increase capital expenditure and low revenue collection, he stressed the need for creating a mechanism that would ensure capital expenditure since the very beginning of the next fiscal year (FY 2023/24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Now, it seems the economy is weak and in problem. Internal trade and business is weak. Inflation is under control. But, there are problems. Industries and trade are in crisis due to bank interest rates. Revenue collection is not satisfactory as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the government's efforts alone could not be enough, he called for all sectors to come together for improving the economy. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17516', 'image' => '20230507035138_1683446673.महत.jpg', 'article_date' => '2023-05-07 15:51:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17781', 'article_category_id' => '1', 'title' => 'New Business Age Organises Training for Startups', 'sub_title' => '', 'summary' => 'May 7: New Business Age organized a training for startups on Friday with the objective of learning and sharing the experiences of startups.', '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 7: New Business Age organized a training for startups on Friday with the objective of learning and sharing the experiences of startups.</span></span></span></span></p> <p><span style="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 total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> startup entrepreneurs participated in the training programme held in Kathmandu.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashutosh Tiwari, founder of Safal Partners, was the resource person/trainer for the special training given to the startups.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari said that startup entrepreneurs should develop a habit of questioning to establish direct contact with the consumers. Stating that the habit of asking questions can help them get along with consumers and the rest of the world, he said that the habit of not asking questions of entrepreneurs in Nepal is not good.</span></span></span></span></p> <p><span style="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 starting a startup, you should start only by learning. To move forward, you should stand on reality, you should not make decisions based on imagination,” said Tiwari, the founder of Safal Partners, adding, "You have to learn from experience. You should never stop learning, you should always embrace the habit of learning. You should always strive to learn what is necessary for your business from successful and experienced people.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Emphasizing on the need to modify his products with time, Tiwari opined that the products become better as they are modified while timely changes will help to keep the products in the market for a long 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","sans-serif"">He said that since the current market is competitive, special attention should be given to service and continuous marketing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“All these things require a suitable team. A team should be formed to focus on that kind of work,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari, the founder of Safal Partners, emphasized that startups should look at the legal and financial sectors with special importance. Otherwise, he says, there may be a situation where startups will have to face various problems.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari said that although there is some trouble in raising investment for startups in Nepal, it is not impossible.</span></span></span></span></p> <p><span style="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 startup entrepreneurs participating in the training program shared their questions, problems and experiences. They also expressed their gratitude to New Business Edge for the opportunity to learn many new things from the startup training programme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the special training programme organized for startups, Editor-in-Chief of New Business Age Madan Lamsal said that the programme was conducted with the aim of encouraging startups. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“It is the responsibility of financial media to encourage startups. As the duty of a media organization related to the field of business and economy, we organized a training programme for entrepreneurs who are operating startups in a difficult environment of Nepal,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">New Business Age is conducting 'Startup Summit and Award-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2023</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. In this, the best startup entrepreneurs selected from among </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">startups from across the country will be awarded in three</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">different categories. This year, the slogan of the 'Startup Summit and Awards' to be organised by New Business Age is ‘Towards Startup Nation’.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17515', 'image' => '20230507015407_1683359190.jpg', 'article_date' => '2023-05-07 13:53:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17796', 'article_category_id' => '1', 'title' => 'New Business Age's 22nd Anniversary Special: The New Economy', 'sub_title' => '', 'summary' => 'May 8: When people hear the term 'New Economy', many still get confused, what it actually means.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 8: When people hear the term 'New Economy', many still get confused, what it actually means. However, the concept of the New Economy did not emerge suddenly. The new economy is defined as a new type of economy created by information, technology, the Internet, and ultra-high-tech companies. It is driven by technology-based industries with high economic growth rates. In this type of economy, the economic growth rate and productivity are made sustainable by advanced technology. Compared to the traditional economy, productivity is much higher. The economic growth rate is also very high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The concept of the New Economy came in the late 1990s when the use of the Internet and powerful computers began to change and shape the dimensions of the consumer and the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This has been especially linked to the boom in the share price of the technology sector in the late 90s and early 2000s. It started in the US. In the next few years, it reached other developed economies. In the next decade, a similar economic transformation was seen in many emerging economies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In simpler terms, an economy based on products and commodities gradually focuses on technology, and an economy in which technology is widely used in the creation of new goods and services is the New Economy. Its production cannot be matched by the traditional production-oriented economy. Nowadays, high-tech and the internet have changed every part of our daily life, including the way we work and spend time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">On the other hand, it has also changed the basic rules of economics. The increasing use of automation and robots has increased the possibility of losing millions of manual labour jobs. Equally, there is a situation where new jobs will be created. The way we shop, the way we travel has changed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Whether we are in the New Economy or yet to reach it is still a matter of controversy. A large group of economists are saying that we have now reached the New Economy. However, a small group is raising questions on this. Some economists say that in the New Economy, inflation will disappear, business cycles will not exist and the old rules of economics will not apply. Most economists are not ready to accept this as such claims have been made many times in the past. They argue that regardless of the situation, the basic rules of economics will not change.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The companies that form the backbone of the new economic system are many times larger than most of the world's economies. Companies have lost billions of dollars in the blink of an eye when a technology-based company's stock price bubble bursts. Hundreds of companies have gone bankrupt.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the companies that have survived till now have turned into innovative companies with cutting-edge technology. Most of the businesses in the new economy are involved in online activities and the biotechnology industry. It has spawned thousands of other industries. Currently, three of the top five companies with the highest market capitalization in the world are Apple, Google and Microsoft. In the 1980s, oil and car companies were on this list.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Over the past few years, online service providers or online-based companies have turned into multinational companies. Amazon, Facebook, Netflix, Alibaba, Payatu, Uber, and Tencent are just a few examples. The New Economy has not only changed the economic environment of the world but also restructured global capitalism. Capitalism has begun to focus on social, environmental and sustainable development goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Once upon a time, countries used to fight for oil or mineral production. Now the main topic of contention is consumer data and its security. The cold war that has been going on between the US and China for the past few years is also focused on data. Consumer data is at the core of everyone's problems, whether it's a business debate or a technology battle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The US and countries leaning towards the US are accusing China of spying on citizens of other countries through domestic technology companies and transferring consumer data to China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">An example of this is the growing worldwide ban on the Chinese short video-sharing app TikTok. China has denied the allegations. The charges against TikTok have not been confirmed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While cyber crimes and data theft cases are increasing worldwide, the concern of every citizen, company and country is now focused on how to maintain the privacy of their own and their users' data, record processing and security. Countries have gradually introduced data protection laws for their citizens. Nepal has failed in matters of data privacy and security. However, recently new technologies are being used in the fields of agriculture, energy, capital market etc that helps in the development of the New Economy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17529', 'image' => '20230508040147_new economy - Copy.jpg', 'article_date' => '2023-05-08 16:01:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17795', 'article_category_id' => '1', 'title' => 'Nabil Bank Limited Launches Nabil Dhukka Bachat Khata with Exciting Offers', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 8: Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Customers who open a Nabil Dhukka Bachat Khata account will have access to Medical Insurance worth NPR 100,000, GPA worth NPR 10,00,000, and Critical Illness Insurance worth NPR 3,75,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In addition to the insurance coverage, customers can enjoy a range of free services, such as debit card, credit card, nBank (Mobile Banking), C-ASBA, DMAT, Meroshare, and off-us ATM fee up to five times per month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Account holders can also benefit from the special facility of Nabil Fone Loan and enjoy a free locker facility for the first year, with a 50% discount available from the second year onwards. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the Nabil Dhukka Bachat Khata account offers an attractive interest rate of 7.40%, the highest in the market. Customers can open this account with a minimum balance of NPR 1,00,000.00 and start enjoying its many benefits right away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the launch of this feature-packed savings product, Nabil Bank aims to provide customers with a hassle-free banking experience and fulfill their banking needs comprehensively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17528', 'image' => '20230508033307_collage (13).jpg', 'article_date' => '2023-05-08 15:29:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17794', 'article_category_id' => '1', 'title' => 'KMC Starts Removing Unmanaged Cables from Streets of Kathmandu', 'sub_title' => '', 'summary' => 'May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. ', '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 Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The removal of cables is being done following an agreement between the KMC, the Nepal Electricity Authority and internet service providers on Sunday. The cable removal started from Maitighar Mandala and New Road area on Monday, said Superintendent of Police at the KMC, Manoj Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the KMC had asked the NEA and internet service providers to remove unmanaged cables from electric poles in Kathmandu within May 10. But, the Ministry of Communications and Information Technology issued a circular to the KMC not to remove cables that may disconnect internet service at local levels across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The meeting yesterday agreed to remove cables from today (Monday). So, the removal of cables has started," said Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting decided to manage unmanaged cables in various phases from several areas of the Kathmandu Valley, said the Internet Service Providers' Association of Nepal (ISPAN). As per the agreement, unmanaged cables, tangling and unused ones, would be removed from the electric poles in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17527', 'image' => '20230508031726_20230425021257_20221221014959_Untitled.jpg', 'article_date' => '2023-05-08 15:16:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17793', 'article_category_id' => '1', 'title' => 'Shree Airlines Plane makes Emergency Landing due to Technical Issue ', 'sub_title' => '', 'summary' => 'May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. ', '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: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 80-seater S-8 aircraft with flight number SHA 822 had to return back and make an emergency landing due to the technical issue. The aircraft took off from the Gautam Buddha Airport at around 9:40 am flew 20 miles when the crew members noticed the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Spokesperson of Tribhuvan International Airport, Teknath Niraula, there was an issue with the landing gear of the craft.</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 landing gear got stuck in the ground during the landing and was taken out following a maintenance. The flight has been already resumed,” said Niraula. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17526', 'image' => '20230508020354_shree air.jpg', 'article_date' => '2023-05-08 14:03:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17792', 'article_category_id' => '1', 'title' => 'Rescue Team Dispatched to Mugu Avalanche Site in a Helicopter ', 'sub_title' => '', 'summary' => 'May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting chief of the District Police Office, Mugu DSP Sudarshan Panthi said that a Nepalese Army helicopter carrying 20 persons, including security personnel, rescuers and relatives of the missing left for the avalanche site on Monday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though a group of police personnel from the Area Police Post, Mugu was dispatched to the avalanche site on May 5, it has not yet reached the destination, DSP Panthi said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said it had been difficult for the police team to reach the site due to lack of logistics. "It needs to pass through a snow-capped hill area to reach the site which is time consuming and difficult," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs sent a rescue team on the helicopter as it was time-taking for security personnel on ground to reach the site. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As many as 15 locals of Patarasi Rural Municipality-2, Talfigaun of Jumla had left for Patan to collect yarsagumba,a prized herb found in the Himalayas, through an illegal route. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Tara Singh Sarki, Punna Sarki and Bir Bohora had gone missing in the avalanche that took place at 1.00 pm on May 5 while they were ascending to the highland. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17525', 'image' => '20230508125302_maxresdefault.jpg', 'article_date' => '2023-05-08 12:51:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17791', 'article_category_id' => '1', 'title' => 'Transparency in Politics a Must to Improve Economy: Experts', 'sub_title' => '', 'summary' => 'May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. Most of the economists, bankers and experts participating in the Nepal Business Summit-2023 organized by the Confederation of Banks and Financial Institutions (CBIFIN) in Kathmandu on Sunday said that economy and politics cannot be considered apart from each other.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issues ranging from the current challenges faced by the economy to the future roadmap for prosperity, potential investment areas for Nepal's sustainable economy, challenges faced by Nepal's financial sector from a regional perspective and protection from this to strengthen the economy, Nepal's current situation and future path for socio-economic reforms were discussed separately during the summit. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the participants in the discussion emphasized that reforms in politics should be the first step for economic prosperity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to them, the Nepalese economy, which was improving from 1990 to 2001, started deteriorating after 2005. Experts say that despite the end of political crisis including the armed conflict in 2006, the lack of good governance has been the main factor behind the failure to improve the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist and member of the House of Representatives Dr Swornim Wagle said that after 2008 the structural balance is deteriorating. He pointed out the need for enterprise-friendly policies through reforms in the public expenditure system. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the same program, a member of the National Planning Commission, Dr Ramesh Chandra Poudel claimed that Nepal should have taken a leap in the manufacturing sector from 1990 to 2000, but nothing was done in that direction. According to Poudel, the country entered the service sector from agriculture abruptly, damaging the structure of the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dilip Agarwal, president of Worldlink, complained that the tax levied by the government on telecommunication service providers is excessive. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aanchal Kunwar, managing director of Daraz Nepal, emphasized the need for a stable policy in the context that online business is growing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of Muktinath Agricultural Company, Bharatraj Dhakal said that the agricultural sector cannot develop in Nepal unless there is a market guarantee for agricultural produce, but there is no market law yet. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, while inaugurating the summit, Prime Minister Pushpa Kamal Dahal claimed that the government is actively working for economic growth. He also claimed that there has been significant improvement in foreign exchange savings and foreign currency reserves in recent times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat said that a flexible monetary policy is necessary to end the problems seen in the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Maha Prasad Adhikari, governor of NRB, said that the central bank cannot carry more load than its capacity. He said, “There is a lot of expectation from NRB as other sectors have not been able to provide any support. Monetary policy has its own limits. Going off the limits can throw the entire banking system off the track.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17524', 'image' => '20230508121855_066A3780.jpg', 'article_date' => '2023-05-08 12:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17790', 'article_category_id' => '1', 'title' => 'Tukucha is a River but Property on Surface is Private: High Court ', 'sub_title' => '', 'summary' => 'May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. ', '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: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. </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"">A division bench of high court judges Mahesh Paudel and Rajy Laxmi Bajrachayra issued the verdict on Sunday stating that although the Tukucha is a river the houses and land above the underground river are private. So, the state must not breach individual property. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Tukucha (Ichchhumati) River is tributary of Bagmati River. So, the argument that Tukucha is drain is illogical," the verdict read. </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 court recognized the right of the government to manage rivers but also made it clear that the government cannot breach the rights of individuals by demolition of private structures. </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"">Bishwa Prakash Sakha from Kathmandu Metropolis-1 had filed a writ petition at High Court, after Kathmandu Metropolis excavated Tukucha River by damaging his property on September 15, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the High Court urged Kathmandu Metropolis to not damage personal property without seeking his consent or providing compensation to the landowner. The landowner has legal document including the land ownership certificate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Archaeology, the Tukucha river was covered some 130 years ago from Jay Nepal Hall to Kathmandu Plaza so that the river would not flood the structures built in those areas and also to avoid the foul smell.</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"">Following the court verdict, KMC Mayor Balen Shah tweeted that the metropolis has achieved success in the first phase of excavation of the river.</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 natural flow of the river should not be obstructed. Covering thr river shoud not be allowed…” he tweeted.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17523', 'image' => '20230508122201_1683445547.टुकुचा खोला.jpg', 'article_date' => '2023-05-08 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17789', 'article_category_id' => '1', 'title' => 'MPs Demand Govt to Unveil the report of Committee probing Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's parliamentarian Devendra Dahal urged to put an end to the controversy surrounding the fake Bhutanese refugee scam and unveil the report prepared by the commission formed to probe the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Criticizing that there was no investigation into the attempt of attack targeted at the team of UML Chairperson some days ago in Jhapa, Dahal blamed that the government was coming down against the opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that economic crisis could spur terrible situation in the country, he suggested to remain alert and aware about it before it is too late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He rued that the earlier bill session went in vain. "Not a single bill was endorsed. It passed away in the formation and reshuffling of the government," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal hit out that the incumbent government did not have the capability to come up with a framework to address the deteriorating national economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, President of <span style="font-family:"Arial Unicode MS","sans-serif"">Rastriya Prajatanra Party (RPP) Rajendra Lingden also demanded that the culprits involved in sending Nepalis abroad in the guise of Bhutanese refugees should be brought to book. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the inauguration of the first unity assembly of the National Democratic Women Association close to the RPP on Sunday, leader Lingden said that such criminal activities could not be pardoned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Demanding an impartial investigation into the scam, he warned that such fraudulent scam held at the behest of political power could be influenced and the culprits could go off scot-free. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17522', 'image' => '20230508110326_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 11:02:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17788', 'article_category_id' => '1', 'title' => 'US May Default If Debt Ceiling Is Not Raised: US Treasury Secretary ', 'sub_title' => '', 'summary' => 'US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early June.', 'content' => '<p><span style="font-size:18px">May 8: US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences.<br /> Without an agreement to increase what the federal government can borrow, it could run out of money by early June.</span></p> <p><span style="font-size:18px">At that point the federal government might not be able to make wage, welfare and other payments.<br /> "It's Congress's job to do this. If they fail to do it, we will have an economic and financial catastrophe that will be of our own making," she said.</span></p> <p><span style="font-size:18px">In an interview with ABC News on Sunday Ms Yellen said debt ceiling negotiations should not take place "with a gun to the head of the American people." But time is running out for an agreement.</span></p> <p><span style="font-size:18px">On Tuesday President Biden will meet Republican leaders to ask them to agree to raising the current $31.4tn (£25.12tn) limit.<br /> Congress typically ties approval of a higher debt ceiling to stipulations on budget and spending measures.</span></p> <p><span style="font-size:18px">Last month the House of Representatives passed a bill to raise the ceiling, currently roughly equal to 120% of the country's annual economic output, but included in the bill sweeping spending cuts over the next decade.</span></p> <p><span style="font-size:18px">President Biden wants Congress to agree to raise the debt ceiling, with no conditions. President Biden has said he will not negotiate over the increase and will discuss budget cuts after the issue is resolved.</span></p> <p><span style="font-size:18px">Failure to find cross-party agreement on the issue could result in a "constitutional crisis" Ms Yellen said.<br /> The Biden administration is considering whether there is scope within the constitution for the president to continue issuing new debt without the approval of Congress, but will this week strive to avoid that scenario.</span></p> <p><span style="font-size:18px">"We should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis," Ms Yellen told ABC.</span></p> <p><span style="font-size:18px">The debt ceiling has been raised, extended or revised 78 times since 1960, often with negotiations going down to the wire.<br /> In the end, the threat of a default on government payments including debt obligations has always led to compromise. The US has never defaulted, an event that would upend global financial markets and have far-reaching economic impacts. But delaying a resolution also had negative consequences, Ms Yellen said in a letter to Congress last week.</span></p> <p><span style="font-size:18px">"We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States," she wrote. ------BBC </span><br /> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17521', 'image' => '20230508060727_collage (4).jpg', 'article_date' => '2023-05-08 06:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '17787', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament Kicks Off', 'sub_title' => '', 'summary' => 'May 7: The budget session of federal parliament kicked off on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: The budget session of federal parliament kicked off on Sunday. The budget session called by President Ram Chandra Paudel as per Article 91 (1) of the Constitution began its business at the Parliament Building at 4pm on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meetings of both the National Assembly and House of Representatives kicked off with the beginning of the budget session. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, on behalf of the government, presented the appropriation bill on Sunday. With the beginning of the session, a pre-budget discussion would be held. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Presenting a proposal seeking deliberations on the principles and priorities of appropriation bill (except tax) for fiscal year, 2080/81, Finance Minister Mahat said that the budget would be brought by paying attention to make the economy dynamic and ensuring inclusive economic growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the national economy has been showing positive signs with the increase in tourism activities, remittance inflow and foreign currency reserve despite challenges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to bring economy back on track, the government must maintain strict discipline in current expenditure and capital expenditure,” said Minister Mahat. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17520', 'image' => '20230507083422_PRO-KTM-6F8A4462.jpg', 'article_date' => '2023-05-07 20:33:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17786', 'article_category_id' => '1', 'title' => 'Nepali Immigrant Raj Bhandari’s Sciencix Wins 2023 Exporter of the Year Award from US SBA', 'sub_title' => '', 'summary' => ' Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.', 'content' => '<p><br /> <span style="font-size:18px">May 7: Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.</span></p> <p><span style="font-size:18px">The company, which specializes in manufacturing high-performance liquid chromatography and mass spectrometry parts, was recognized for its achievements in expanding its global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Sciencix’s success in exporting has been attributed to the company’s use of SBA’s trade tools, including the State Trade Expansion Program (STEP) grant funding. With the support of North Carolina’s Small Business and Technology Development Center (SBTDC), Sciencix secured $24,000 in STEP grant funding in 2021, which was used to offset the costs of attending international trade shows, meeting overseas distributors, and website internationalization.</span></p> <p><span style="font-size:18px">Sciencix’s exports now account for one-third of its total sales, representing a 10 percent increase from the previous year. Its products are used in research laboratories in over 100 countries across all continents.</span></p> <p><span style="font-size:18px">The Exporter of the Year Award was presented to Bhandari and the Sciencix team during the National Small Business Week event, which took place from April 30 to May 2 in Washington, DC. The event is an annual celebration of the achievements and contributions of small businesses across the nation.</span></p> <p><span style="font-size:18px">In honor of National Small Business Week, President Biden and Vice President Harris hosted small business award winners from across the country at the White House to celebrate their contributions to the economy. President Joe Biden and Vice President Kamala Harris congratulated the Sciencix team on their success.</span></p> <p><span style="font-size:18px">Raj Bhandari, the owner of Sciencix, along with Operations Manager Ranjan Karki and Director of Global Marketing Lisa Bamford, were recognized for their leadership in expanding the company’s global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, praised Sciencix for its innovative approach to growing its business worldwide, and for using the tools and resources available to small businesses to drive competition and innovation.</span></p> <p><span style="font-size:18px">The company’s success story also highlights the importance of ongoing outreach to diaspora communities, as well as the valuable role played by the STEP grant program in supporting small businesses to start or grow their exports. --NEPYORK </span><br /> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17519', 'image' => '20230507053725_collage (12).jpg', 'article_date' => '2023-05-07 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17785', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 1.09% on Sunday; Investors Lose Around 70% From All-time High', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 7: The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This marks a loss of 19.12 points against gains of 12 points last Thursday. Investors who entered the market when the index touched an all-time high of 3200 have now lost around 70%.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts and long-time investors on NEPSE attribute this to the market's sensitivity to news and information, with traders and investors having a habit of selling even at the slightest negative news. However, experienced investors suggest purchasing when the market is down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 263 scrips traded hands via 23,051 transactions, with 2,015,959 shares exchanged hands amounting to Rs. 60.81 crores in turnover amount. This is lower than the last trading day's turnover of Rs. 73.26 Crores.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shivam Cements LImited (SHIVM) shares traded the most and had the highest turnover of Rs. 3.22 crores, closing at a market price of Rs. 400 per share. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) gained the highest 8.22% for the day, while NMB Debenture 8.50% - 2087/88 (NMBD87/88) lost the highest 8.83% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All sector indices closed red, with "Hydropower" losing the highest 2.04% while "Mutual Fund" lost the least 0.05% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the Sensitive Index fell by 0.885, while Float Index and Sensitive Float Index declined by 0.995 and 0.85%, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts say that NEPSE will catch its rhythm if the Nepal Rastra Bank makes some policy-level changes for the sharemarket. </span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17518', 'image' => '20230507043148_collage (3).jpg', 'article_date' => '2023-05-07 16:28:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17784', 'article_category_id' => '1', 'title' => 'Prospects of Indian Investment in Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'May 7: Since Nepal is a close neighbor of India, its partnership is vital for the development of Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 7: Since Nepal is a close neighbor of India, its partnership is vital for the development of Nepal. India has been providing direct and indirect investments and support in various areas of Nepal. However, there have been many arguments regarding Indian investment in the hydropower sector, which is considered to be a potential source of income for Nepal. Especially, there is no consensus on whether the current Indian investment is enough or too little.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Electricity Authority (NEA), so far, India has invested in seven hydropower projects with a total capacity of 3,491 megawatts. The hydropower projects in Nepal with Indian investment are in three stages: obtaining survey license, obtaining construction license and under construction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to NEA, during the dry season, the demand for electricity in Nepal is 1,750 megawatts in peak hour while the minimum demand is 1,200 megawatts and 1,300 megawatts in average. Since most of the hydropower projects currently in operation in Nepal are based on river flow system, the country needs to import electricity from India to meet the domestic demand during the dry season while it sells surplus electricity to India during the rainy season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to lack of investment, large hydropower projects have not been built in Nepal. China has shown interest in investing in hydropower projects in Nepal. But, India has adopted a policy of not buying electricity from hydropower projects built in Nepal with the investment of neighboring countries, especially China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In such a situation, it seems that Chinese investment projects will not be able to enter the easy and accessible electricity market in India. Apart from China, the investment projects of other foreign countries also having lots of difficulties to enter the Indian market. Projects developed with Indian investment do not have to face this kind of trouble.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Indian investment will ensure that there won’t be lack of funds and there will be no problem in selling the produced electricity. The Indian government has committed to expand the use of green energy. There is a huge demand for energy in India and sufficient resources for investment but there is not enough investment coming from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Foreign investment expert Radhesh Panta says that Indian investment is not coming as expected due to Nepal's weakness.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“In order to attract investment in hydropower sector, there is a need for some kind of understanding at the top political level. However, there has not been much effort from Nepal. The subject of investment is also politicized. The tendency to view India with suspicion, seems to have emerged from the misconception that India will capture Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that the government should work on bringing in investment as a top priority, he added, “The government should stop bragging about having a good policy. It should first address the concerns of the investors and their wishes should be heard.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there is a lot of competition, investors are not forced to invest in one country. Therefore, Panta believes that the government of Nepal should also develop its competitiveness.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17517', 'image' => '20230507041618_hydro.jpg', 'article_date' => '2023-05-07 16:15:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17782', 'article_category_id' => '1', 'title' => 'Economic Problems will be Resolved through Monetary Policy: Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'May 7: Finance Minister Dr Prakash Sharan Mahat has said the current economic problems could be resolved through the monetary policy instead of the fiscal policy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: Finance Minister Dr Prakash Sharan Mahat has said the current economic problems could be resolved through the monetary policy instead of the fiscal policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the Nepal Trade Summit-2023 organised by the Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) on Sunday, Finance Minister Mahat said initiatives would be taken to resolve the problems through the monetary policy as the government lacks options to run the fiscal policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The implementation of the fiscal policy could not increase. We are unable to flow capital through the fiscal policy. We lack resources to increase fiscal spaces," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is not in a situation wherein it can do work through the fiscal policy as the revenue collection is very low, he said, adding, "The Nepal Rastra Bank is at work to review the fiscal policy towards mid-May. Bank interest rates could be reduced through monetary equipment. We must focus on creating a climate of investment by decreasing interest rates through monetary tools." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He admitted that the government could not effectively spend development budget on time. Saying that the economy could not be dynamic due to the failure to increase capital expenditure and low revenue collection, he stressed the need for creating a mechanism that would ensure capital expenditure since the very beginning of the next fiscal year (FY 2023/24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Now, it seems the economy is weak and in problem. Internal trade and business is weak. Inflation is under control. But, there are problems. Industries and trade are in crisis due to bank interest rates. Revenue collection is not satisfactory as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the government's efforts alone could not be enough, he called for all sectors to come together for improving the economy. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17516', 'image' => '20230507035138_1683446673.महत.jpg', 'article_date' => '2023-05-07 15:51:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17781', 'article_category_id' => '1', 'title' => 'New Business Age Organises Training for Startups', 'sub_title' => '', 'summary' => 'May 7: New Business Age organized a training for startups on Friday with the objective of learning and sharing the experiences of startups.', '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 7: New Business Age organized a training for startups on Friday with the objective of learning and sharing the experiences of startups.</span></span></span></span></p> <p><span style="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 total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> startup entrepreneurs participated in the training programme held in Kathmandu.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashutosh Tiwari, founder of Safal Partners, was the resource person/trainer for the special training given to the startups.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari said that startup entrepreneurs should develop a habit of questioning to establish direct contact with the consumers. Stating that the habit of asking questions can help them get along with consumers and the rest of the world, he said that the habit of not asking questions of entrepreneurs in Nepal is not good.</span></span></span></span></p> <p><span style="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 starting a startup, you should start only by learning. To move forward, you should stand on reality, you should not make decisions based on imagination,” said Tiwari, the founder of Safal Partners, adding, "You have to learn from experience. You should never stop learning, you should always embrace the habit of learning. You should always strive to learn what is necessary for your business from successful and experienced people.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Emphasizing on the need to modify his products with time, Tiwari opined that the products become better as they are modified while timely changes will help to keep the products in the market for a long 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","sans-serif"">He said that since the current market is competitive, special attention should be given to service and continuous marketing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“All these things require a suitable team. A team should be formed to focus on that kind of work,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari, the founder of Safal Partners, emphasized that startups should look at the legal and financial sectors with special importance. Otherwise, he says, there may be a situation where startups will have to face various problems.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari said that although there is some trouble in raising investment for startups in Nepal, it is not impossible.</span></span></span></span></p> <p><span style="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 startup entrepreneurs participating in the training program shared their questions, problems and experiences. They also expressed their gratitude to New Business Edge for the opportunity to learn many new things from the startup training programme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the special training programme organized for startups, Editor-in-Chief of New Business Age Madan Lamsal said that the programme was conducted with the aim of encouraging startups. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“It is the responsibility of financial media to encourage startups. As the duty of a media organization related to the field of business and economy, we organized a training programme for entrepreneurs who are operating startups in a difficult environment of Nepal,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">New Business Age is conducting 'Startup Summit and Award-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2023</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. In this, the best startup entrepreneurs selected from among </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">startups from across the country will be awarded in three</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">different categories. This year, the slogan of the 'Startup Summit and Awards' to be organised by New Business Age is ‘Towards Startup Nation’.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17515', 'image' => '20230507015407_1683359190.jpg', 'article_date' => '2023-05-07 13:53:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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However, the concept of the New Economy did not emerge suddenly. The new economy is defined as a new type of economy created by information, technology, the Internet, and ultra-high-tech companies. It is driven by technology-based industries with high economic growth rates. In this type of economy, the economic growth rate and productivity are made sustainable by advanced technology. Compared to the traditional economy, productivity is much higher. The economic growth rate is also very high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The concept of the New Economy came in the late 1990s when the use of the Internet and powerful computers began to change and shape the dimensions of the consumer and the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This has been especially linked to the boom in the share price of the technology sector in the late 90s and early 2000s. It started in the US. In the next few years, it reached other developed economies. In the next decade, a similar economic transformation was seen in many emerging economies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In simpler terms, an economy based on products and commodities gradually focuses on technology, and an economy in which technology is widely used in the creation of new goods and services is the New Economy. Its production cannot be matched by the traditional production-oriented economy. Nowadays, high-tech and the internet have changed every part of our daily life, including the way we work and spend time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">On the other hand, it has also changed the basic rules of economics. The increasing use of automation and robots has increased the possibility of losing millions of manual labour jobs. Equally, there is a situation where new jobs will be created. The way we shop, the way we travel has changed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Whether we are in the New Economy or yet to reach it is still a matter of controversy. A large group of economists are saying that we have now reached the New Economy. However, a small group is raising questions on this. Some economists say that in the New Economy, inflation will disappear, business cycles will not exist and the old rules of economics will not apply. Most economists are not ready to accept this as such claims have been made many times in the past. They argue that regardless of the situation, the basic rules of economics will not change.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The companies that form the backbone of the new economic system are many times larger than most of the world's economies. Companies have lost billions of dollars in the blink of an eye when a technology-based company's stock price bubble bursts. Hundreds of companies have gone bankrupt.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the companies that have survived till now have turned into innovative companies with cutting-edge technology. Most of the businesses in the new economy are involved in online activities and the biotechnology industry. It has spawned thousands of other industries. Currently, three of the top five companies with the highest market capitalization in the world are Apple, Google and Microsoft. In the 1980s, oil and car companies were on this list.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Over the past few years, online service providers or online-based companies have turned into multinational companies. Amazon, Facebook, Netflix, Alibaba, Payatu, Uber, and Tencent are just a few examples. The New Economy has not only changed the economic environment of the world but also restructured global capitalism. Capitalism has begun to focus on social, environmental and sustainable development goals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Once upon a time, countries used to fight for oil or mineral production. Now the main topic of contention is consumer data and its security. The cold war that has been going on between the US and China for the past few years is also focused on data. Consumer data is at the core of everyone's problems, whether it's a business debate or a technology battle.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The US and countries leaning towards the US are accusing China of spying on citizens of other countries through domestic technology companies and transferring consumer data to China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">An example of this is the growing worldwide ban on the Chinese short video-sharing app TikTok. China has denied the allegations. The charges against TikTok have not been confirmed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While cyber crimes and data theft cases are increasing worldwide, the concern of every citizen, company and country is now focused on how to maintain the privacy of their own and their users' data, record processing and security. Countries have gradually introduced data protection laws for their citizens. Nepal has failed in matters of data privacy and security. However, recently new technologies are being used in the fields of agriculture, energy, capital market etc that helps in the development of the New Economy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17529', 'image' => '20230508040147_new economy - Copy.jpg', 'article_date' => '2023-05-08 16:01:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17795', 'article_category_id' => '1', 'title' => 'Nabil Bank Limited Launches Nabil Dhukka Bachat Khata with Exciting Offers', 'sub_title' => '', 'summary' => 'Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 8: Nabil Bank Limited has launched a new savings product, the Nabil Dhukka Bachat Khata, offering a range of benefits and features to customers. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notably, the account includes three different types of insurance coverage, making it the first savings product of its kind in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Customers who open a Nabil Dhukka Bachat Khata account will have access to Medical Insurance worth NPR 100,000, GPA worth NPR 10,00,000, and Critical Illness Insurance worth NPR 3,75,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In addition to the insurance coverage, customers can enjoy a range of free services, such as debit card, credit card, nBank (Mobile Banking), C-ASBA, DMAT, Meroshare, and off-us ATM fee up to five times per month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Account holders can also benefit from the special facility of Nabil Fone Loan and enjoy a free locker facility for the first year, with a 50% discount available from the second year onwards. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the Nabil Dhukka Bachat Khata account offers an attractive interest rate of 7.40%, the highest in the market. Customers can open this account with a minimum balance of NPR 1,00,000.00 and start enjoying its many benefits right away.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the launch of this feature-packed savings product, Nabil Bank aims to provide customers with a hassle-free banking experience and fulfill their banking needs comprehensively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17528', 'image' => '20230508033307_collage (13).jpg', 'article_date' => '2023-05-08 15:29:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17794', 'article_category_id' => '1', 'title' => 'KMC Starts Removing Unmanaged Cables from Streets of Kathmandu', 'sub_title' => '', 'summary' => 'May 8: The Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. ', '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 Kathmandu Metropolitan City (KMC) has started removing unmanaged cables from the electric poles in the streets of Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The removal of cables is being done following an agreement between the KMC, the Nepal Electricity Authority and internet service providers on Sunday. The cable removal started from Maitighar Mandala and New Road area on Monday, said Superintendent of Police at the KMC, Manoj Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the KMC had asked the NEA and internet service providers to remove unmanaged cables from electric poles in Kathmandu within May 10. But, the Ministry of Communications and Information Technology issued a circular to the KMC not to remove cables that may disconnect internet service at local levels across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The meeting yesterday agreed to remove cables from today (Monday). So, the removal of cables has started," said Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting decided to manage unmanaged cables in various phases from several areas of the Kathmandu Valley, said the Internet Service Providers' Association of Nepal (ISPAN). As per the agreement, unmanaged cables, tangling and unused ones, would be removed from the electric poles in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17527', 'image' => '20230508031726_20230425021257_20221221014959_Untitled.jpg', 'article_date' => '2023-05-08 15:16:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17793', 'article_category_id' => '1', 'title' => 'Shree Airlines Plane makes Emergency Landing due to Technical Issue ', 'sub_title' => '', 'summary' => 'May 8: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. ', '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: A Shree Airlines aircraft en route to Kathmandu from Bhairahawa flew back to the Bhairahawa airport due to technical issues during the flight on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 80-seater S-8 aircraft with flight number SHA 822 had to return back and make an emergency landing due to the technical issue. The aircraft took off from the Gautam Buddha Airport at around 9:40 am flew 20 miles when the crew members noticed the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Spokesperson of Tribhuvan International Airport, Teknath Niraula, there was an issue with the landing gear of the craft.</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 landing gear got stuck in the ground during the landing and was taken out following a maintenance. The flight has been already resumed,” said Niraula. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17526', 'image' => '20230508020354_shree air.jpg', 'article_date' => '2023-05-08 14:03:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17792', 'article_category_id' => '1', 'title' => 'Rescue Team Dispatched to Mugu Avalanche Site in a Helicopter ', 'sub_title' => '', 'summary' => 'May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: A squad of security personnel is heading towards the incident site to search for those missing in an avalanche at Chyarkhulek of Mugu district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting chief of the District Police Office, Mugu DSP Sudarshan Panthi said that a Nepalese Army helicopter carrying 20 persons, including security personnel, rescuers and relatives of the missing left for the avalanche site on Monday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though a group of police personnel from the Area Police Post, Mugu was dispatched to the avalanche site on May 5, it has not yet reached the destination, DSP Panthi said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further said it had been difficult for the police team to reach the site due to lack of logistics. "It needs to pass through a snow-capped hill area to reach the site which is time consuming and difficult," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Home Affairs sent a rescue team on the helicopter as it was time-taking for security personnel on ground to reach the site. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As many as 15 locals of Patarasi Rural Municipality-2, Talfigaun of Jumla had left for Patan to collect yarsagumba,a prized herb found in the Himalayas, through an illegal route. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Tara Singh Sarki, Punna Sarki and Bir Bohora had gone missing in the avalanche that took place at 1.00 pm on May 5 while they were ascending to the highland. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17525', 'image' => '20230508125302_maxresdefault.jpg', 'article_date' => '2023-05-08 12:51:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17791', 'article_category_id' => '1', 'title' => 'Transparency in Politics a Must to Improve Economy: Experts', 'sub_title' => '', 'summary' => 'May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 8: Experts have emphasized the need for transparency in politics as the pre-requisite for improving economy. Most of the economists, bankers and experts participating in the Nepal Business Summit-2023 organized by the Confederation of Banks and Financial Institutions (CBIFIN) in Kathmandu on Sunday said that economy and politics cannot be considered apart from each other.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issues ranging from the current challenges faced by the economy to the future roadmap for prosperity, potential investment areas for Nepal's sustainable economy, challenges faced by Nepal's financial sector from a regional perspective and protection from this to strengthen the economy, Nepal's current situation and future path for socio-economic reforms were discussed separately during the summit. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the participants in the discussion emphasized that reforms in politics should be the first step for economic prosperity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to them, the Nepalese economy, which was improving from 1990 to 2001, started deteriorating after 2005. Experts say that despite the end of political crisis including the armed conflict in 2006, the lack of good governance has been the main factor behind the failure to improve the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist and member of the House of Representatives Dr Swornim Wagle said that after 2008 the structural balance is deteriorating. He pointed out the need for enterprise-friendly policies through reforms in the public expenditure system. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the same program, a member of the National Planning Commission, Dr Ramesh Chandra Poudel claimed that Nepal should have taken a leap in the manufacturing sector from 1990 to 2000, but nothing was done in that direction. According to Poudel, the country entered the service sector from agriculture abruptly, damaging the structure of the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dilip Agarwal, president of Worldlink, complained that the tax levied by the government on telecommunication service providers is excessive. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aanchal Kunwar, managing director of Daraz Nepal, emphasized the need for a stable policy in the context that online business is growing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chairman of Muktinath Agricultural Company, Bharatraj Dhakal said that the agricultural sector cannot develop in Nepal unless there is a market guarantee for agricultural produce, but there is no market law yet. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Earlier, while inaugurating the summit, Prime Minister Pushpa Kamal Dahal claimed that the government is actively working for economic growth. He also claimed that there has been significant improvement in foreign exchange savings and foreign currency reserves in recent times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Dr Prakash Sharan Mahat said that a flexible monetary policy is necessary to end the problems seen in the economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Maha Prasad Adhikari, governor of NRB, said that the central bank cannot carry more load than its capacity. He said, “There is a lot of expectation from NRB as other sectors have not been able to provide any support. Monetary policy has its own limits. Going off the limits can throw the entire banking system off the track.” </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17524', 'image' => '20230508121855_066A3780.jpg', 'article_date' => '2023-05-08 12:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17790', 'article_category_id' => '1', 'title' => 'Tukucha is a River but Property on Surface is Private: High Court ', 'sub_title' => '', 'summary' => 'May 8: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. ', '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: In a blow to the Kathmandu Metropolitan City’s (KMC) drive to excavate the underground Tukucha in Kamaladi and Hattisar area, the Patan High Court on Sunday ruled that the Tukucha is a river not a drain but the property on surface (over the river) is private. </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"">A division bench of high court judges Mahesh Paudel and Rajy Laxmi Bajrachayra issued the verdict on Sunday stating that although the Tukucha is a river the houses and land above the underground river are private. So, the state must not breach individual property. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The Tukucha (Ichchhumati) River is tributary of Bagmati River. So, the argument that Tukucha is drain is illogical," the verdict read. </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 court recognized the right of the government to manage rivers but also made it clear that the government cannot breach the rights of individuals by demolition of private structures. </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"">Bishwa Prakash Sakha from Kathmandu Metropolis-1 had filed a writ petition at High Court, after Kathmandu Metropolis excavated Tukucha River by damaging his property on September 15, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the High Court urged Kathmandu Metropolis to not damage personal property without seeking his consent or providing compensation to the landowner. The landowner has legal document including the land ownership certificate. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Archaeology, the Tukucha river was covered some 130 years ago from Jay Nepal Hall to Kathmandu Plaza so that the river would not flood the structures built in those areas and also to avoid the foul smell.</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"">Following the court verdict, KMC Mayor Balen Shah tweeted that the metropolis has achieved success in the first phase of excavation of the river.</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 natural flow of the river should not be obstructed. Covering thr river shoud not be allowed…” he tweeted.</span></span></span></p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17523', 'image' => '20230508122201_1683445547.टुकुचा खोला.jpg', 'article_date' => '2023-05-08 11:30:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17789', 'article_category_id' => '1', 'title' => 'MPs Demand Govt to Unveil the report of Committee probing Fake Bhutanese Refugee Scam ', 'sub_title' => '', 'summary' => 'May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 8: The main opposition party (CPN-UML), in the first meeting of the 14th session of the National Assembly on Sunday, demanded to make public the report of the commission formed to investigate the fake Bhutanese refugee scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">UML's parliamentarian Devendra Dahal urged to put an end to the controversy surrounding the fake Bhutanese refugee scam and unveil the report prepared by the commission formed to probe the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Criticizing that there was no investigation into the attempt of attack targeted at the team of UML Chairperson some days ago in Jhapa, Dahal blamed that the government was coming down against the opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that economic crisis could spur terrible situation in the country, he suggested to remain alert and aware about it before it is too late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He rued that the earlier bill session went in vain. "Not a single bill was endorsed. It passed away in the formation and reshuffling of the government," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dahal hit out that the incumbent government did not have the capability to come up with a framework to address the deteriorating national economy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, President of <span style="font-family:"Arial Unicode MS","sans-serif"">Rastriya Prajatanra Party (RPP) Rajendra Lingden also demanded that the culprits involved in sending Nepalis abroad in the guise of Bhutanese refugees should be brought to book. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the inauguration of the first unity assembly of the National Democratic Women Association close to the RPP on Sunday, leader Lingden said that such criminal activities could not be pardoned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Demanding an impartial investigation into the scam, he warned that such fraudulent scam held at the behest of political power could be influenced and the culprits could go off scot-free. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17522', 'image' => '20230508110326_Parliament RSS 800.jpg', 'article_date' => '2023-05-08 11:02:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17788', 'article_category_id' => '1', 'title' => 'US May Default If Debt Ceiling Is Not Raised: US Treasury Secretary ', 'sub_title' => '', 'summary' => 'US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early June.', 'content' => '<p><span style="font-size:18px">May 8: US Treasury secretary Janet Yellen has warned a failure to raise the US's debt ceiling could have dire consequences.<br /> Without an agreement to increase what the federal government can borrow, it could run out of money by early June.</span></p> <p><span style="font-size:18px">At that point the federal government might not be able to make wage, welfare and other payments.<br /> "It's Congress's job to do this. If they fail to do it, we will have an economic and financial catastrophe that will be of our own making," she said.</span></p> <p><span style="font-size:18px">In an interview with ABC News on Sunday Ms Yellen said debt ceiling negotiations should not take place "with a gun to the head of the American people." But time is running out for an agreement.</span></p> <p><span style="font-size:18px">On Tuesday President Biden will meet Republican leaders to ask them to agree to raising the current $31.4tn (£25.12tn) limit.<br /> Congress typically ties approval of a higher debt ceiling to stipulations on budget and spending measures.</span></p> <p><span style="font-size:18px">Last month the House of Representatives passed a bill to raise the ceiling, currently roughly equal to 120% of the country's annual economic output, but included in the bill sweeping spending cuts over the next decade.</span></p> <p><span style="font-size:18px">President Biden wants Congress to agree to raise the debt ceiling, with no conditions. President Biden has said he will not negotiate over the increase and will discuss budget cuts after the issue is resolved.</span></p> <p><span style="font-size:18px">Failure to find cross-party agreement on the issue could result in a "constitutional crisis" Ms Yellen said.<br /> The Biden administration is considering whether there is scope within the constitution for the president to continue issuing new debt without the approval of Congress, but will this week strive to avoid that scenario.</span></p> <p><span style="font-size:18px">"We should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis," Ms Yellen told ABC.</span></p> <p><span style="font-size:18px">The debt ceiling has been raised, extended or revised 78 times since 1960, often with negotiations going down to the wire.<br /> In the end, the threat of a default on government payments including debt obligations has always led to compromise. The US has never defaulted, an event that would upend global financial markets and have far-reaching economic impacts. But delaying a resolution also had negative consequences, Ms Yellen said in a letter to Congress last week.</span></p> <p><span style="font-size:18px">"We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States," she wrote. ------BBC </span><br /> </p> ', 'published' => true, 'created' => '2023-05-08', 'modified' => '2023-05-08', 'keywords' => '', 'description' => '', 'sortorder' => '17521', 'image' => '20230508060727_collage (4).jpg', 'article_date' => '2023-05-08 06:03:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '17787', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament Kicks Off', 'sub_title' => '', 'summary' => 'May 7: The budget session of federal parliament kicked off on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: The budget session of federal parliament kicked off on Sunday. The budget session called by President Ram Chandra Paudel as per Article 91 (1) of the Constitution began its business at the Parliament Building at 4pm on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meetings of both the National Assembly and House of Representatives kicked off with the beginning of the budget session. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Prakash Sharan Mahat, on behalf of the government, presented the appropriation bill on Sunday. With the beginning of the session, a pre-budget discussion would be held. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Presenting a proposal seeking deliberations on the principles and priorities of appropriation bill (except tax) for fiscal year, 2080/81, Finance Minister Mahat said that the budget would be brought by paying attention to make the economy dynamic and ensuring inclusive economic growth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the national economy has been showing positive signs with the increase in tourism activities, remittance inflow and foreign currency reserve despite challenges. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In order to bring economy back on track, the government must maintain strict discipline in current expenditure and capital expenditure,” said Minister Mahat. </span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17520', 'image' => '20230507083422_PRO-KTM-6F8A4462.jpg', 'article_date' => '2023-05-07 20:33:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17786', 'article_category_id' => '1', 'title' => 'Nepali Immigrant Raj Bhandari’s Sciencix Wins 2023 Exporter of the Year Award from US SBA', 'sub_title' => '', 'summary' => ' Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.', 'content' => '<p><br /> <span style="font-size:18px">May 7: Nepali immigrant and business owner in the USA, Raj Bhandari, has been awarded the prestigious Exporter of the Year Award for 2023 by the US government’s Small Business Administration (SBA) for his company Sciencix.</span></p> <p><span style="font-size:18px">The company, which specializes in manufacturing high-performance liquid chromatography and mass spectrometry parts, was recognized for its achievements in expanding its global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Sciencix’s success in exporting has been attributed to the company’s use of SBA’s trade tools, including the State Trade Expansion Program (STEP) grant funding. With the support of North Carolina’s Small Business and Technology Development Center (SBTDC), Sciencix secured $24,000 in STEP grant funding in 2021, which was used to offset the costs of attending international trade shows, meeting overseas distributors, and website internationalization.</span></p> <p><span style="font-size:18px">Sciencix’s exports now account for one-third of its total sales, representing a 10 percent increase from the previous year. Its products are used in research laboratories in over 100 countries across all continents.</span></p> <p><span style="font-size:18px">The Exporter of the Year Award was presented to Bhandari and the Sciencix team during the National Small Business Week event, which took place from April 30 to May 2 in Washington, DC. The event is an annual celebration of the achievements and contributions of small businesses across the nation.</span></p> <p><span style="font-size:18px">In honor of National Small Business Week, President Biden and Vice President Harris hosted small business award winners from across the country at the White House to celebrate their contributions to the economy. President Joe Biden and Vice President Kamala Harris congratulated the Sciencix team on their success.</span></p> <p><span style="font-size:18px">Raj Bhandari, the owner of Sciencix, along with Operations Manager Ranjan Karki and Director of Global Marketing Lisa Bamford, were recognized for their leadership in expanding the company’s global sales and diversifying its revenue through international trade.</span></p> <p><span style="font-size:18px">Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, praised Sciencix for its innovative approach to growing its business worldwide, and for using the tools and resources available to small businesses to drive competition and innovation.</span></p> <p><span style="font-size:18px">The company’s success story also highlights the importance of ongoing outreach to diaspora communities, as well as the valuable role played by the STEP grant program in supporting small businesses to start or grow their exports. --NEPYORK </span><br /> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17519', 'image' => '20230507053725_collage (12).jpg', 'article_date' => '2023-05-07 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17785', 'article_category_id' => '1', 'title' => 'NEPSE Index Drops 1.09% on Sunday; Investors Lose Around 70% From All-time High', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 7: The Nepal Stock Exchange (NEPSE) Index shed 1.09% or 19.12 points, closing at 1850.61 points on Sunday-the first trading day of the week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This marks a loss of 19.12 points against gains of 12 points last Thursday. Investors who entered the market when the index touched an all-time high of 3200 have now lost around 70%.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts and long-time investors on NEPSE attribute this to the market's sensitivity to news and information, with traders and investors having a habit of selling even at the slightest negative news. However, experienced investors suggest purchasing when the market is down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A total of 263 scrips traded hands via 23,051 transactions, with 2,015,959 shares exchanged hands amounting to Rs. 60.81 crores in turnover amount. This is lower than the last trading day's turnover of Rs. 73.26 Crores.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shivam Cements LImited (SHIVM) shares traded the most and had the highest turnover of Rs. 3.22 crores, closing at a market price of Rs. 400 per share. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) gained the highest 8.22% for the day, while NMB Debenture 8.50% - 2087/88 (NMBD87/88) lost the highest 8.83% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All sector indices closed red, with "Hydropower" losing the highest 2.04% while "Mutual Fund" lost the least 0.05% today.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the Sensitive Index fell by 0.885, while Float Index and Sensitive Float Index declined by 0.995 and 0.85%, respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts say that NEPSE will catch its rhythm if the Nepal Rastra Bank makes some policy-level changes for the sharemarket. </span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17518', 'image' => '20230507043148_collage (3).jpg', 'article_date' => '2023-05-07 16:28:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17784', 'article_category_id' => '1', 'title' => 'Prospects of Indian Investment in Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'May 7: Since Nepal is a close neighbor of India, its partnership is vital for the development of Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 7: Since Nepal is a close neighbor of India, its partnership is vital for the development of Nepal. India has been providing direct and indirect investments and support in various areas of Nepal. However, there have been many arguments regarding Indian investment in the hydropower sector, which is considered to be a potential source of income for Nepal. Especially, there is no consensus on whether the current Indian investment is enough or too little.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Electricity Authority (NEA), so far, India has invested in seven hydropower projects with a total capacity of 3,491 megawatts. The hydropower projects in Nepal with Indian investment are in three stages: obtaining survey license, obtaining construction license and under construction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to NEA, during the dry season, the demand for electricity in Nepal is 1,750 megawatts in peak hour while the minimum demand is 1,200 megawatts and 1,300 megawatts in average. Since most of the hydropower projects currently in operation in Nepal are based on river flow system, the country needs to import electricity from India to meet the domestic demand during the dry season while it sells surplus electricity to India during the rainy season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to lack of investment, large hydropower projects have not been built in Nepal. China has shown interest in investing in hydropower projects in Nepal. But, India has adopted a policy of not buying electricity from hydropower projects built in Nepal with the investment of neighboring countries, especially China.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In such a situation, it seems that Chinese investment projects will not be able to enter the easy and accessible electricity market in India. Apart from China, the investment projects of other foreign countries also having lots of difficulties to enter the Indian market. Projects developed with Indian investment do not have to face this kind of trouble.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Indian investment will ensure that there won’t be lack of funds and there will be no problem in selling the produced electricity. The Indian government has committed to expand the use of green energy. There is a huge demand for energy in India and sufficient resources for investment but there is not enough investment coming from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Foreign investment expert Radhesh Panta says that Indian investment is not coming as expected due to Nepal's weakness.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“In order to attract investment in hydropower sector, there is a need for some kind of understanding at the top political level. However, there has not been much effort from Nepal. The subject of investment is also politicized. The tendency to view India with suspicion, seems to have emerged from the misconception that India will capture Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that the government should work on bringing in investment as a top priority, he added, “The government should stop bragging about having a good policy. It should first address the concerns of the investors and their wishes should be heard.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there is a lot of competition, investors are not forced to invest in one country. Therefore, Panta believes that the government of Nepal should also develop its competitiveness.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17517', 'image' => '20230507041618_hydro.jpg', 'article_date' => '2023-05-07 16:15:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17782', 'article_category_id' => '1', 'title' => 'Economic Problems will be Resolved through Monetary Policy: Finance Minister Mahat ', 'sub_title' => '', 'summary' => 'May 7: Finance Minister Dr Prakash Sharan Mahat has said the current economic problems could be resolved through the monetary policy instead of the fiscal policy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 7: Finance Minister Dr Prakash Sharan Mahat has said the current economic problems could be resolved through the monetary policy instead of the fiscal policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the Nepal Trade Summit-2023 organised by the Confederation of Commercial Banks and Financial Institutions Nepal (CBFIN) on Sunday, Finance Minister Mahat said initiatives would be taken to resolve the problems through the monetary policy as the government lacks options to run the fiscal policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The implementation of the fiscal policy could not increase. We are unable to flow capital through the fiscal policy. We lack resources to increase fiscal spaces," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is not in a situation wherein it can do work through the fiscal policy as the revenue collection is very low, he said, adding, "The Nepal Rastra Bank is at work to review the fiscal policy towards mid-May. Bank interest rates could be reduced through monetary equipment. We must focus on creating a climate of investment by decreasing interest rates through monetary tools." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He admitted that the government could not effectively spend development budget on time. Saying that the economy could not be dynamic due to the failure to increase capital expenditure and low revenue collection, he stressed the need for creating a mechanism that would ensure capital expenditure since the very beginning of the next fiscal year (FY 2023/24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Now, it seems the economy is weak and in problem. Internal trade and business is weak. Inflation is under control. But, there are problems. Industries and trade are in crisis due to bank interest rates. Revenue collection is not satisfactory as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the government's efforts alone could not be enough, he called for all sectors to come together for improving the economy. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17516', 'image' => '20230507035138_1683446673.महत.jpg', 'article_date' => '2023-05-07 15:51:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17781', 'article_category_id' => '1', 'title' => 'New Business Age Organises Training for Startups', 'sub_title' => '', 'summary' => 'May 7: New Business Age organized a training for startups on Friday with the objective of learning and sharing the experiences of startups.', '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 7: New Business Age organized a training for startups on Friday with the objective of learning and sharing the experiences of startups.</span></span></span></span></p> <p><span style="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 total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> startup entrepreneurs participated in the training programme held in Kathmandu.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashutosh Tiwari, founder of Safal Partners, was the resource person/trainer for the special training given to the startups.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari said that startup entrepreneurs should develop a habit of questioning to establish direct contact with the consumers. Stating that the habit of asking questions can help them get along with consumers and the rest of the world, he said that the habit of not asking questions of entrepreneurs in Nepal is not good.</span></span></span></span></p> <p><span style="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 starting a startup, you should start only by learning. To move forward, you should stand on reality, you should not make decisions based on imagination,” said Tiwari, the founder of Safal Partners, adding, "You have to learn from experience. You should never stop learning, you should always embrace the habit of learning. You should always strive to learn what is necessary for your business from successful and experienced people.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Emphasizing on the need to modify his products with time, Tiwari opined that the products become better as they are modified while timely changes will help to keep the products in the market for a long 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","sans-serif"">He said that since the current market is competitive, special attention should be given to service and continuous marketing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“All these things require a suitable team. A team should be formed to focus on that kind of work,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari, the founder of Safal Partners, emphasized that startups should look at the legal and financial sectors with special importance. Otherwise, he says, there may be a situation where startups will have to face various problems.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari said that although there is some trouble in raising investment for startups in Nepal, it is not impossible.</span></span></span></span></p> <p><span style="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 startup entrepreneurs participating in the training program shared their questions, problems and experiences. They also expressed their gratitude to New Business Edge for the opportunity to learn many new things from the startup training programme.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the special training programme organized for startups, Editor-in-Chief of New Business Age Madan Lamsal said that the programme was conducted with the aim of encouraging startups. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“It is the responsibility of financial media to encourage startups. As the duty of a media organization related to the field of business and economy, we organized a training programme for entrepreneurs who are operating startups in a difficult environment of Nepal,” he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">New Business Age is conducting 'Startup Summit and Award-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2023</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">'. In this, the best startup entrepreneurs selected from among </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">startups from across the country will be awarded in three</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">different categories. This year, the slogan of the 'Startup Summit and Awards' to be organised by New Business Age is ‘Towards Startup Nation’.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-07', 'modified' => '2023-05-07', 'keywords' => '', 'description' => '', 'sortorder' => '17515', 'image' => '20230507015407_1683359190.jpg', 'article_date' => '2023-05-07 13:53:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
