Jagdamba Motors Pvt. Ltd., the sole authorized distributor of TVS Motor Company in Nepal, has launched a TVS NTORQ 125 Race Edition scooter in new Marine Blue…
Jagdamba Motors Pvt. Ltd., the sole authorized distributor of TVS Motor Company in Nepal, has launched a TVS NTORQ 125 Race Edition scooter in new Marine Blue…
Himalayan Bank Limited has brought a disability-friendly Automated Teller Machine (ATM) into operation on the premises of Spinal Injury Rehabilitation Center sat Kavre’s…
The decision of the banks and financial institutions to slash the interest rates on deposits has had a positive impact on the NEPSE Index today. The NEPSE Index, which had remained sluggish lately, gained an impressive 92.22 points and closed at 1963.55…
April 12: As the ninth month of the current fiscal year is about to end, the state of capital expenditure of the government is…
April 12: The Ministry of Health and Population has instructed various health facilities to remain on standby in view of increasing cases of COVID-19 in the country.…
April 12: As the small businessmen living in the capital valley have fled, about 35 percent of the shutters used by them have now become…
April 12: Though the foreign exchange reserves have increased in the country, the current account remained at a deficit of Rs 44.31 billion in the first eight months of the current fiscal year.…
April 12: Chairperson of the Confederation of Banks and Financial Institutions Nepal (CBFIN) Pawan Kumar Golyan insists that there is no investment-friendly environment in the country despite availability of liquidity in banks and financial…
April 12: Voting for the election of a new executive committee of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the largest umbrella organization of industrialists in the country, has started from 8 am this…
April 12: The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical…
April 12: The Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, said that the condition of Nepal's banks and financial institutions is safe and sound at…
April 11: A meeting of the Council of Ministers held on Tuesday approved a proposal received from the infrastructure committee of the Council of Ministers on testing the maximum level of pesticides in all the imported goods for…
April 11: An earthquake with its epicenter at Baluwa of Gorkha district on Tuesday…
The NEPSE Index gained 1.48%, 27.31 points, and closed at 1871.33 on the third trading of the week on…
April 11: Merchandise exports of Nepal declined 29.1 percent during the eight months of FY 2022/23 to Rs 104.80 billion against an increase of 82.9 percent in the same period of the previous year, according to the Nepal Rastra…
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Ltd Rolls Out TVS NTORQ 125 Race Edition Scooter ', 'sub_title' => '', 'summary' => 'Jagdamba Motors Pvt. Ltd., the sole authorized distributor of TVS Motor Company in Nepal, has launched a TVS NTORQ 125 Race Edition scooter in new Marine Blue colour. ', 'content' => '<p> </p> <p><span style="font-size:20px">April 13: Jagdamba Motors Pvt. Ltd., the sole authorized distributor of TVS Motor Company in Nepal, has launched a TVS NTORQ 125 Race Edition scooter in new Marine Blue colour. </span></p> <p><span style="font-size:20px">The exciting new color will be available alongside the popular Race Edition Red & Yellow color, which has been highly embraced and adored by Generation Z throughout the years.</span></p> <p><span style="font-size:20px">With colorful chequered flag race-inspired graphics, the TVS NTORQ 125 Race Edition’s new striking Marine Blue color gives a distinct style and adds complete newness to the scooter. </span></p> <p><span style="font-size:20px">The unusual three tone combination of black, metallic black and metallic blue makes the scooter indisputably different and stands out from the rest. </span></p> <p><span style="font-size:20px">Mr. Shahil Agrawal, Managing Director, Jagdamba Motors Pvt. Ltd., said that TVS NTORQ RT-Fi 125 Race Edition-Marine Blue is designed to create a best-in-class ownership experience with the inclusion of RT-Fi. “We have rolled out TVS NTORQ RT-Fi 125 Race Edition to give young customers a new experience,” said Agrawal. </span></p> <p><span style="font-size:20px">Akhil Gupta, Executive Director of Jagdamba Motors Pvt. Ltd. Said TVS NTORQ RT-Fi 125 has redefined the expectation of scooter consumers in Nepal by creating an exciting, powerful, connected experience for the Gen Z. </span></p> <p><span style="font-size:20px">TVS NTORQ 125 Race Edition is powered by a 124.8 cc, single-cylinder, 4-stroke, 3-valve, air-cooled SOHC, fuel injected engine. The Race Edition boasts of a 95 kmph top speed and accelerates from 0-60 kmph in just 9 seconds.<br /> The new TVS NTORQ 125 Race Edition in Marine Blue colour is priced at Rs 2,99,900 in Nepali market. </span></p> ', 'published' => true, 'created' => '2023-04-13', 'modified' => '2023-04-13', 'keywords' => '', 'description' => '', 'sortorder' => '17274', 'image' => '20230413062551_collage (71).jpg', 'article_date' => '2023-04-13 06:23:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17538', 'article_category_id' => '218', 'title' => 'Himalayan Bank Launches Disability-friendly ATM at Sipnal Injury Rehabilitation Center ', 'sub_title' => '', 'summary' => 'Himalayan Bank Limited has brought a disability-friendly Automated Teller Machine (ATM) into operation on the premises of Spinal Injury Rehabilitation Center sat Kavre’s Sanga. ', 'content' => '<p><span style="font-size:20px">April 12: Himalayan Bank Limited has brought a disability-friendly Automated Teller Machine (ATM) into operation on the premises of Spinal Injury Rehabilitation Center sat Kavre’s Sanga. </span></p> <p><span style="font-size:20px">“We have brought the disability-friendly ATM into operation to ensure everyone’s access to banking facility,” said the bank. </span></p> <p><span style="font-size:20px">On the occasion of the 21st anniversary of the rehabilitation center last Friday, Banepa Municipality’s Mayor Shantiranta Shakya, Himalyan Bank’s Chairman Prachanda Bahadaur Shrestha and Rehabilitation Center’s Chairperson Dr Shanta Dixit jointly inaugurated the ATM. </span></p> <p><span style="font-size:20px">The bank has been providing services through 189 branches, 20 extended counters, and more than 262 ATMs to its customers across the country. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17273', 'image' => '20230412052815_collage - 2023-04-12T172705.972.jpg', 'article_date' => '2023-04-12 17:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17537', 'article_category_id' => '1', 'title' => ' The NEPSE Index Records Impressive Gains of 99.22 Points; So Does Turnover Amount ', 'sub_title' => '', 'summary' => 'The decision of the banks and financial institutions to slash the interest rates on deposits has had a positive impact on the NEPSE Index today. The NEPSE Index, which had remained sluggish lately, gained an impressive 92.22 points and closed at 1963.55 today. ', 'content' => '<p><span style="font-size:20px"> April 12: The decision of the banks and financial institutions to slash the interest rates on deposits has had a positive impact on the NEPSE Index today. The NEPSE Index, which had remained sluggish lately, gained an impressive 92.22 points and closed at 1963.55 today. </span></p> <p><span style="font-size:20px">Earlier, Nepal Bankers’ Association had decided to lower the interest rates on deposits by 10%. In the light of this, the interest rates on deposits have decreased to a single digit. </span></p> <p><span style="font-size:20px">Experts say that decision to lower the interest rates had a positive effect on the NEPSE today. Interest rates and stock market have a negative relationship. When the interest rates rise, stock market declines and when the interest rate decreases the stock market goes up.</span></p> <p><span style="font-size:20px">The NEPSE Index went up by 4.95%, which is 92.22 points and closed at 1963.55. </span></p> <p><span style="font-size:20px">A total of 267 scrips traded hands via 47,285 transactions. A total of 6,107,425 shares exchanged hands amounting to Rs. 1.976 billion in turnover amount. This is more than double the last trading day's turnover of Rs. 94.52 crores.</span></p> <p><span style="font-size:20px">Commercial banks, finance companies and micro finances witnessed a massive rise. Banking, development banks, finances and microfinances increased by 5.46%, 5.74%, 6.84% and 5.11% respectively. </span></p> <p><span style="font-size:20px">Shivam Cements Limited (SHIVAM) shares traded the most and had the highest turnover of Rs. 11.71 crores closing at a market price of Rs. 413 per share.</span></p> <p><span style="font-size:20px">Seven scrips gained the highest 10% each and hit the positive circuit for the day.<br /> Conversely, Everest Bank Limited (EBLD86) lost the highest 1.99% today.</span></p> <p><span style="font-size:20px">All sector indices closed in the green zone. "Finance" gained the highest 6.84%, while "Mutual Fund" gained the least 2.87% today.</span><br /> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17272', 'image' => '20230412043608_collage - 2023-04-11T164935.581.jpg', 'article_date' => '2023-04-12 16:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17536', 'article_category_id' => '1', 'title' => 'Government Needs to Spend Rs 277 in Capital Expenditure within 3 Months', 'sub_title' => '', 'summary' => 'April 12: As the ninth month of the current fiscal year is about to end, the state of capital expenditure of the government is disappointing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">April 12: As the ninth month of the current fiscal year is about to end, the state of capital expenditure of the government is disappointing. According to the Financial Comptroller General Office (FCGO), only Rs 102 billion have been spent on the capital budget as of April 11.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital budget allocated for the current fiscal year (FY 2022/23) is 380.38 billion. So far, about 27 percent of the budget has been spent. The progress of the capital budget expenditure in the first and second quarters was very low. Although the expenditure has increased from the third quarter, the government now needs to spend Rs 277 billion capital budget in the remaining three months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital budget expenditure in the current fiscal year is slightly higher than that in the corresponding period of last year. By mid-April last year, the government had spent Rs 98.3 billion in capital budget. In the last fiscal year, the government had allocated Rs 378 billion under the heading of capital expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">This year, the government has spent Rs 883 billion as of April 11 under all headings. This is 49.26 percent of the total budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had announced a budget of Rs 1793.83 billion for the current fiscal year, which was later downsized. Majority of the budget has been allocated for current expenditure. A total of Rs 1183.23 billion has been allocated for current expenses. Since mid-July last, the government has spent Rs 692 billion in the current expenditure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">So far, the government has spent Rs 89 billion on financial management. The target is to spend Rs 230 billion this year in the financial management. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Looking at the way the government has spent the development budget in the nine months, there is no possibility that the remaining amount will be spent in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has said that he will increase the capital expenditure by making an action plan. According to him, the government is focused on increasing capital expenditure and reducing unnecessary expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In the short term, the government's focus will be on domestic spending. “We will reduce the unnecessary expenses of the common people," he said. According to Minister Mahat, the government will make service delivery of state effective by reducing the general expenses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Economist Keshav Acharya says that 100 percent of the budget cannot be spent this year as there is still a large capital budget to be spent. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17271', 'image' => '20230412031757_1681277786.jpg', 'article_date' => '2023-04-12 15:17:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17535', 'article_category_id' => '1', 'title' => 'Government Directs Health Facilities to be Prepared for Possible COVID-19 Risk ', 'sub_title' => '', 'summary' => 'April 12: The Ministry of Health and Population has instructed various health facilities to remain on standby in view of increasing cases of COVID-19 in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: The Ministry of Health and Population has instructed various health facilities to remain on standby in view of increasing cases of COVID-19 in the country. The directive came as the daily graph of fresh COVID-19 cases is going up lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cases of mutated Omicron sub-variant XBB1.16.1 of COVID -19 found in neighbouring India have been recorded lately in Nepal as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director of the Epidemiology and Disease Control Division, Dr Chuman Lal Das, the latest variant of COVID-19 is more infectious and hospitals are directed to be in ready position to respond to the possible situation ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital, Shukraraj Tropical and Infectious Disease Hospital, TU Teaching Hospital, Patan Academy of Health Sciences, Civil Service Hospital, Armed Police Force Hospital and Nepal Police Hospital are among those health facilities directed to be prepared for handling the untoward situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Wednesday, a person succumbed to COVID-19, the first death from virus in over three months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital’s Director Dr Santosh Poudel said they have been directed to be prepared for the response to COVID-19 in view of its soaring cases lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shukraraj Tropical and Infectious Disease Hospital’s chief Dr Bimal Chalise said they are alert about the possible risk of infections and are prepared accordingly. "There is no need to panic, but we must be alert about the possible risk," he said, adding that the hospital has a patient on a ventilator and two ICU cases related to Covid-19 at the moment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Wednesday, 106 new cases of COVID-19 were reported in the country. At present, 24 infected patients are in isolation, 13 in ICU care and five on ventilator support for COVID-19. The division has said it has tightened COVID-19 check along the Nepal-India border since Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17270', 'image' => '20230412025457_health-ministry.jpg', 'article_date' => '2023-04-12 14:54:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17534', 'article_category_id' => '1', 'title' => '35 Percent Shutters Closed in Kathmandu', 'sub_title' => '', 'summary' => 'April 12: As the small businessmen living in the capital valley have fled, about 35 percent of the shutters used by them have now become empty.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">April 12: As the small businessmen living in the capital valley have fled, about 35 percent of the shutters used by them have now become empty. When businesses crumbled due to the recession, the small businessmen fled as they were unable to pay the rents and high interest rates of banks. On top o f it, the landlords increased the rents. Due to this, the shutters made for commercial purposes are being emptied rapidly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen estimate that the process of evacuating shutters and fleeing will continue to increase. Naresh Katuwal, president of the National Federation of Independent Businesses (NFIB) says that small traders are the most affected by economic slowdown.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The decline in purchasing capacity of the consumers has resulted a slump in business slump which has also been affected by the increment in rents by landlords and interest rates by the banks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Katuwal, overall business has shrunk to 30 to 40 percent compared to the normal situation. He told that most of the landlords in the valley increase the rent by 10 percent every year. Katuwal said, “Business is declining due to lack of liquidity, high rent, high interest rate of banks and increasing competition. As a result, the businessmen are forced to flee the business by emptying the shutters.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking with New Business Age, he added, “We estimate that about 35 percent of the shutters are empty now.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As a result of the recession in business, shutters have been in areas including New Road, Asan, Indrachok, Khichhapokhari, Thamel, Sundhara, Balaju, Kalanki, Chabahil, Koteshwar and Baneshwor. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen are paying rent ranging from Rs 50,000 to 500,000 per month for a single shutter in those areas.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The business sector, which has slowed down after the Covid-19 pandemic, has reached a situation where traders are unable to cope with the crisis due to the disruptions from all sides. Ranjit Tandukar, who is dealing in ready-made clothes, says that their business has slumped due to the decrease in consumer's income. He says that most of the people who come to the shop ask for the price of the goods and return.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">More than 15,000 businessmen of the valley are affiliated to NFIB. During the Covid-19 pandemic, when the shutters had to be closed, some landlords had waived their house rent at the initiative of the federation. At that time, Civil Mall, People's Plaza, Ranjana Trade Mall and others in New Road and the surrounding areas gave a rent discount of 1 to 7 months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Economist Gyanendra Adhikari says that the biggest weakness of the government is that the small businessmen are unable to cope with the current crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, the government should implement separate policies for small and big businesses in the monetary policy and budget. He argues that when the government made policies and rules for businessmen who can employ thousands of human resources and also to those who employ five people, small businessmen suffered the most during the crisis. Officials say that the current situation has come because there is no investment environment due to political instability and the global economic crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">To prevent the businessmen from giving up on their businesses, the businessmen demand that the house rent should be fixed on the basis of square feet by implementing the scientific home rent rate and the interest rate of the bank which is in double digits should be reduced to a single digit.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17269', 'image' => '20230412012352_1681191833.jpg', 'article_date' => '2023-04-12 13:23:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17533', 'article_category_id' => '1', 'title' => 'Foreign Exchange Reserves Rises to Rs 1401.21 Billion: NRB ', 'sub_title' => '', 'summary' => 'April 12: Though the foreign exchange reserves have increased in the country, the current account remained at a deficit of Rs 44.31 billion in the first eight months of the current fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: Though the foreign exchange reserves have increased in the country, the current account remained at a deficit of Rs 44.31 billion in the first eight months of the current fiscal year. During the same period of the last fiscal year, the current account was in a deficit of Rs 460.72 billion. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Current Macroeconomic and Financial Situation Report of Nepal based on eight months' data published by the Nepal Rastra Bank, the gross foreign exchange reserves increased 15.2 per cent to Rs 1401.21 billion in mid-March 2023 from Rs 1215.80 billion in mid-July 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Balance of Payments (BOP) remained at a surplus of Rs 148.11 billion in the review period compared to a deficit of Rs 258.64 billion in the same period of the previous year, the central bank said. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Of the total foreign exchange reserves, reserves held by the central bank increased 17.8 per cent to Rs 1244.94 billion in mid-March 2023 from Rs 1056.39 billion in mid-July 2022. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Rastra Bank said that the reserves held by banks and financial institutions decreased 2 per cent to Rs 156.27 billion in mid-March 2023. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the NRB stated that the foreign exchange reserves of the banking sector is sufficient to cover the prospective imports of 10.9 months, and merchandise and services imports of 9.4 months. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17268', 'image' => '20230412100646_20230411103324_20220406032048_NRBnew.jpg', 'article_date' => '2023-04-12 10:05:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17532', 'article_category_id' => '1', 'title' => 'No Environment for Investment Despite Availability of Fund: Golyan ', 'sub_title' => '', 'summary' => 'April 12: Chairperson of the Confederation of Banks and Financial Institutions Nepal (CBFIN) Pawan Kumar Golyan insists that there is no investment-friendly environment in the country despite availability of liquidity in banks and financial institutions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: Chairperson of the Confederation of Banks and Financial Institutions Nepal (CBFIN) Pawan Kumar Golyan insists that there is no investment-friendly environment in the country despite availability of liquidity in banks and financial institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference organized by CBFIN in Lalitpur on Tuesday, Chairperson Golyan said the financial institutions were afraid of flowing new investment despite having adequate deposits in banks. </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"">"Banks and financial institutions' staff are not assured that loan invested in different sectors would be paid back," said Golyan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the media to raise the issue that it is inappropriate to create an environment for not repaying loan in an organized manner. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The interest rate charged for productive sector should be lower than the interest rates for unproductive sector," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The high interest rate was to check flight of money for purchasing luxurious goods. But, the banks and financial institutions received huge amount of deposit due to higher interest rates. On the other hand, entrepreneurs are not in a position to bear the existing interest rates. Therefore, interest rates should be lowered," he noted. </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"">On the occasion, Golyan said the interest rates should be lowered effective from mid-April since the entrepreneurs are not being able to pay back the interest rates of the loan.</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"">According to Golyan, banks have invested Rs 200 billion in small hydropower based energy sector.</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"">CBFIN secretary Pushpa Sharan Mallik said the banks and financial institutions should discourage fixed deposit below one year so as to reduce interest rates. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17267', 'image' => '20230412094113_pawan.jpg', 'article_date' => '2023-04-12 09:40:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17531', 'article_category_id' => '1', 'title' => 'Voting to Elect New Executive Committee of FNCCI Begins', 'sub_title' => '', 'summary' => 'April 12: Voting for the election of a new executive committee of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the largest umbrella organization of industrialists in the country, has started from 8 am this morning.', '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"">April 12: Voting for the election of a new executive committee of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the largest umbrella organization of industrialists in the country, has started from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">am this morning.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the election schedule, voting will be held at the Nepal Academy Hall in Kamaladi, Kathmandu till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> pm.</span></span></span></span></p> <p><span style="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 ongoing 57<sup>th</sup> Annual General Meeting of FNCCI will elect one senior vice president, three vice presidents and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">59</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">executive committee members. On the other hand, four members of the executive committee have been elected unanimously.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of FNCCI, the term of the current president Shekhar Golchha will continue until the AGM concludes, while Chandra Prasad Dhakal, who is currently the senior vice president, will automatically become the president of the federation from April 13.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Three people are competing for the position of senior vice president to lead the federation in the next term. Those in the fray for the coveted post are former FNCCI vice-president Umesh Lal Shrestha, and incumbent vice-presidents Ram Chandra Sanghai and Anjan Shrestha.</span></span></span></span></p> <p><span style="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 election of the senior vice-president of the federation is being watched with much interest due to the provision that the senior vice president will automatically become the president in the next term.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This is the first time that three candidates are contesting for the post of senior vice-president.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the statute of the FNCCI, a candidate must receive 51 percent of the total votes to be elected as the senior vice president. If no candidate gets 51 percent of the votes in the first round of voting, a second round of voting will be held. According to the federation, only the two candidates who get the most votes will compete in the second round.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17265', 'image' => '20230412092110_PRO_KTM-6F8A4345.jpg', 'article_date' => '2023-04-12 09:16:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17529', 'article_category_id' => '1', 'title' => 'IMF Lowers 2023 Global Growth Forecast to 2.8 Percent', 'sub_title' => 'IMF Warns of Half-Decade of Low Growth', 'summary' => 'April 12: The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">April 12: The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to the AFP, the IMF predicted the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its previous forecasts in January.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">“The baseline forecast is for growth to fall from 3.4 percent in 2022 to 2.8 percent in 2023, before settling at 3.0 percent in 2024,” reads the IMF's World Economic Outlook (WEO) report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Advanced economies are expected to see an especially pronounced growth slowdown, from 2.7 percent in 2022 to 1.3 percent in 2023.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"The global economy is recovering from the shocks of the last few years, and particularly of course the pandemic, but also the Russian invasion of Ukraine," IMF chief economist Pierre-Olivier Gourinchas said in a press briefing ahead of the release of the IMF's World Economic Outlook (WEO) report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Supply-chain disruptions and rising geopolitical tensions have brought the risks and potential benefits and costs of geoeconomic fragmentation to the center of the policy debate, IMF wrote on its website.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The overall picture painted by the WEO is a gloomy one, with global growth forecast to slow in both the short and medium terms, says AFP.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Close to 90 percent of advanced economies will experience slowing growth this year, while Asia's emerging markets are expected to see a substantial rise in economic output -- with India and China predicted to account for half of all growth, IMF managing director Kristalina Georgieva said last week.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Low-income countries, meanwhile, are expected to suffer a double shock from higher borrowing costs due to high interest rates, and a decline in demand for their exports, Georgieva said. This could worsen poverty and hunger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Global headline inflation in the baseline is set to fall from 8.7 percent in 2022 to 7.0 percent in 2023 on the back of lower commodity prices but underlying (core) inflation is likely to decline more slowly, added the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">This figure remains significantly above the two-percent target set by the US Federal Reserve and other central banks around the world, suggesting monetary policymakers have a long way to go before inflation is brought back under control, according to AFP.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to the forecast, public debt as a ratio to GDP soared across the world during COVID-19 and is expected to remain elevated.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The IMF's baseline forecasts assume that the financial instability sparked by the collapse of Silicon Valley Bank last month has been broadly contained by the "forceful actions" of regulators on both sides of the Atlantic, Gourinchas told reporters.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Furthermore, the IMF forecasts that global growth will fall to three percent in 2028, its lowest medium-term forecast since the 1990s.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17264', 'image' => '20230412085500_20230411110137_2016_09_19_12250_1474286456._large.jpg', 'article_date' => '2023-04-12 08:53:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17528', 'article_category_id' => '218', 'title' => 'Nepali Banks Are Safe and Sound, Says Governor Adhikari ', 'sub_title' => '', 'summary' => 'April 12: The Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, said that the condition of Nepal's banks and financial institutions is safe and sound at present. ', 'content' => '<p><span style="font-size:20px">April 12: The Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, said that the condition of Nepal's banks and financial institutions is safe and sound at present. </span></p> <p><span style="font-size:20px">In a press meet organized by the NRB to release the current macroeconomic and financial situation of Nepal based on eight months' data of the current fiscal year on Tuesday, Governor Adhikari said that the positive changes seen in the economic indicators at present have signaled the safe and sound status of banks and financial institutions. </span></p> <p><span style="font-size:20px">On the occasion, the Governor said that the issue of liquidity crunch will not continue in the banks and financial institutions for a long time, due to improvement in economic indicators owing to central bank's prudential regulations. </span></p> <p><span style="font-size:20px">"Minor shocks cannot and will not have any impact in the banking sector and overall economy as financial statistics are robust”, according to Governor Adhikari. </span></p> <p><span style="font-size:20px">Contrary to Prime Minister Pushpa Kamal Dahal and Finance Minister Dr Prakash Sharan Mahat’s assurances of lowering the interest rates, Governor Adhikari made it clear that markets will determine the banks’ interest rates. </span></p> <p><span style="font-size:20px">“Demand and supply, and state of liquidity will determine bank interest rates. Nepal Rastra Bank will not interfere with interest rates as markets will determine the rates,” <br /> Adhikari clarified. </span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17263', 'image' => '20230412061029_collage (70).jpg', 'article_date' => '2023-04-12 06:08:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17525', 'article_category_id' => '1', 'title' => 'Govt Decides to Test Level of Pesticides on Imported Goods for Consumption', 'sub_title' => '', 'summary' => 'April 11: A meeting of the Council of Ministers held on Tuesday approved a proposal received from the infrastructure committee of the Council of Ministers on testing the maximum level of pesticides in all the imported goods for consumption. ', 'content' => '<h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">April 11: A meeting of the Council of Ministers held on Tuesday approved a proposal received from the infrastructure committee of the Council of Ministers on testing the maximum level of pesticides in all the imported goods for consumption. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Emerging from the meeting, Minister for Communications and Information Technology Rekha Sharma, who is also the government's spokesperson, said that the meeting also took seriously to the statements made by the Mayor of Kathmandu Metropolitan City (KMC) on garbage collection from Sheetal Niwas, Baluwatar and Singhadurbar. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">The cabinet meeting has taken the statements made by the KMC Mayor Balendra Sah seriously and has drawn his attention to abide by the policy-level provisions on garbage collection, and take the initiatives for garbage collection, said Minister Sharma. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Furthermore, the cabinet meeting appointed Govinda Acharya as the Press Advisor to Prime Minister Pushpa Kamal Dahal, Minister Sharma said.</span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Journalist Acharya is the former Chairman of the Federation of Nepali Journalists (FNJ) as well. -- RSS</span></span></span></h4> <h4> </h4> <p> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17260', 'image' => '20230411102742_PRO_KTM-066A4669.jpg', 'article_date' => '2023-04-11 22:26:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17524', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Gorkha ', 'sub_title' => '', 'summary' => 'April 11: An earthquake with its epicenter at Baluwa of Gorkha district on Tuesday evening. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 11: An earthquake with its epicenter at Baluwa of Gorkha district on Tuesday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Centre stated that the earthquake measuring 4.1 magnitude in Richter scale took place at 6:50 on Tuesday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the quake was felt in Gorkha, Lamjung and the neighbouring districts. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17259', 'image' => '20230411102343_20230329121710_earth.jpg', 'article_date' => '2023-04-11 22:23:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17523', 'article_category_id' => '1', 'title' => 'NEPSE Gains 27.31 Points to Close at 1871.33 ', 'sub_title' => '', 'summary' => 'The NEPSE Index gained 1.48%, 27.31 points, and closed at 1871.33 on the third trading of the week on Tuesday. ', 'content' => '<p><br /> <span style="font-size:20px">April 11: The NEPSE Index gained 1.48%, 27.31 points, and closed at 1871.33 on the third trading of the week on Tuesday. </span></p> <p><span style="font-size:20px">In a program organized in Kathmandu today, Prime Minister Pushpa Kamal Dahal and Finance Minister Dr Prakash Sharan Mahat had stated that the Nepal Rastra Bank should loosen its tight monetary policy.</span></p> <p><span style="font-size:20px">The data unveiled by Nepal Rastra Bank on the current macroeconomic and financial situation of Nepal based on eight months’ data ending mid-March 2023 on Tuesday show that major indicators of the country’s economy are improving. Especially, remittances and status of balance of payment are strengthening.</span></p> <p><span style="font-size:20px">The government’s positive responses to tackle the financial crisis facing the country and Rastra Bank’s data showing economic improvement have had a positive impact on the NEPSE today, say knowledgeable people. </span></p> <p><span style="font-size:20px">A total of 262 scrips traded hands via 35,237 transactions. A total of 3,315,720 shares exchanged hands with a turnover amount of Rs 94.52 crores. This is higher than the last trading day's turnover of Rs. 91.19 Crores.</span></p> <p><span style="font-size:20px">Shivam Cements Limited SHIVM) had the highest turnover of Rs. 7.1 crores closing at a market price of Rs. 400 per share. The shares of PRVU traded the most.</span></p> <p><span style="font-size:20px">Kalinchowk Darshan Limited (KDL) gained the highest 10% and hit the positive circuit for the day. Conversely, Sanima Middle Tamor Hydropower Limited (TAMOR) lost the highest 3.54% today.</span></p> <p><span style="font-size:20px">All sub- indices closed in the green zone. "Manufacturing and Processing" gained the highest 3.28%, while "Non-Life Insurance" gained the least 0.76% today. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17258', 'image' => '20230411045134_collage - 2023-04-11T164935.581.jpg', 'article_date' => '2023-04-11 16:48:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17522', 'article_category_id' => '1', 'title' => 'Decline in Imports and Exports Results in Reduction in Trade Deficit', 'sub_title' => '', 'summary' => 'April 11: Merchandise exports of Nepal declined 29.1 percent during the eight months of FY 2022/23 to Rs 104.80 billion against an increase of 82.9 percent in the same period of the previous year, according to the Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 11: Merchandise exports of Nepal declined 29.1 percent during the eight months of FY 2022/23 to Rs 104.80 billion against an increase of 82.9 percent in the same period of the previous year, according to the Nepal Rastra Bank. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India and China decreased 37.5 percent and 4.9 percent respectively whereas exports to other countries increased 6.0 percent, states the Current Macroeconomic and Financial Situation Report published by NRB on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, exports of zinc sheet, cardamom, particle board, woolen carpets, tea, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, merchandise imports decreased 19.1 percent to Rs 1058.39 billion during the eight months of 2022/23 against an increase of 38.6 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries decreased 17.6 percent, 21.7 percent, and 21.4 percent respectively. Imports of petroleum products, chemical fertilizer, sponge iron, gold, other stationeries, among others, increased whereas imports of transport equipment and parts, medicine, MS billet, crude soybean oil, telecommunication equipment and parts, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Jaleshwar, Kailali, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan Airport customs offices increased whereas exports from all the other major customs points decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the import side, imports from all the major customs points decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, the total trade deficit decreased 17.9 percent to Rs 953.59 billion during the eight months of 2022/23. Such a deficit had increased 34.5 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio decreased to 9.9 percent in the review period from 11.3 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eight months of 2022/23, merchandise imports from India by paying convertible foreign currency amounted Rs 85.12 billion. Such amount was Rs 147.03 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17257', 'image' => '20230411043133_Trade.jpg', 'article_date' => '2023-04-11 16:30:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17539', 'article_category_id' => '266', 'title' => 'Jagdamba Motors Pvt. Ltd Rolls Out TVS NTORQ 125 Race Edition Scooter ', 'sub_title' => '', 'summary' => 'Jagdamba Motors Pvt. Ltd., the sole authorized distributor of TVS Motor Company in Nepal, has launched a TVS NTORQ 125 Race Edition scooter in new Marine Blue colour. ', 'content' => '<p> </p> <p><span style="font-size:20px">April 13: Jagdamba Motors Pvt. Ltd., the sole authorized distributor of TVS Motor Company in Nepal, has launched a TVS NTORQ 125 Race Edition scooter in new Marine Blue colour. </span></p> <p><span style="font-size:20px">The exciting new color will be available alongside the popular Race Edition Red & Yellow color, which has been highly embraced and adored by Generation Z throughout the years.</span></p> <p><span style="font-size:20px">With colorful chequered flag race-inspired graphics, the TVS NTORQ 125 Race Edition’s new striking Marine Blue color gives a distinct style and adds complete newness to the scooter. </span></p> <p><span style="font-size:20px">The unusual three tone combination of black, metallic black and metallic blue makes the scooter indisputably different and stands out from the rest. </span></p> <p><span style="font-size:20px">Mr. Shahil Agrawal, Managing Director, Jagdamba Motors Pvt. Ltd., said that TVS NTORQ RT-Fi 125 Race Edition-Marine Blue is designed to create a best-in-class ownership experience with the inclusion of RT-Fi. “We have rolled out TVS NTORQ RT-Fi 125 Race Edition to give young customers a new experience,” said Agrawal. </span></p> <p><span style="font-size:20px">Akhil Gupta, Executive Director of Jagdamba Motors Pvt. Ltd. Said TVS NTORQ RT-Fi 125 has redefined the expectation of scooter consumers in Nepal by creating an exciting, powerful, connected experience for the Gen Z. </span></p> <p><span style="font-size:20px">TVS NTORQ 125 Race Edition is powered by a 124.8 cc, single-cylinder, 4-stroke, 3-valve, air-cooled SOHC, fuel injected engine. The Race Edition boasts of a 95 kmph top speed and accelerates from 0-60 kmph in just 9 seconds.<br /> The new TVS NTORQ 125 Race Edition in Marine Blue colour is priced at Rs 2,99,900 in Nepali market. </span></p> ', 'published' => true, 'created' => '2023-04-13', 'modified' => '2023-04-13', 'keywords' => '', 'description' => '', 'sortorder' => '17274', 'image' => '20230413062551_collage (71).jpg', 'article_date' => '2023-04-13 06:23:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17538', 'article_category_id' => '218', 'title' => 'Himalayan Bank Launches Disability-friendly ATM at Sipnal Injury Rehabilitation Center ', 'sub_title' => '', 'summary' => 'Himalayan Bank Limited has brought a disability-friendly Automated Teller Machine (ATM) into operation on the premises of Spinal Injury Rehabilitation Center sat Kavre’s Sanga. ', 'content' => '<p><span style="font-size:20px">April 12: Himalayan Bank Limited has brought a disability-friendly Automated Teller Machine (ATM) into operation on the premises of Spinal Injury Rehabilitation Center sat Kavre’s Sanga. </span></p> <p><span style="font-size:20px">“We have brought the disability-friendly ATM into operation to ensure everyone’s access to banking facility,” said the bank. </span></p> <p><span style="font-size:20px">On the occasion of the 21st anniversary of the rehabilitation center last Friday, Banepa Municipality’s Mayor Shantiranta Shakya, Himalyan Bank’s Chairman Prachanda Bahadaur Shrestha and Rehabilitation Center’s Chairperson Dr Shanta Dixit jointly inaugurated the ATM. </span></p> <p><span style="font-size:20px">The bank has been providing services through 189 branches, 20 extended counters, and more than 262 ATMs to its customers across the country. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17273', 'image' => '20230412052815_collage - 2023-04-12T172705.972.jpg', 'article_date' => '2023-04-12 17:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17537', 'article_category_id' => '1', 'title' => ' The NEPSE Index Records Impressive Gains of 99.22 Points; So Does Turnover Amount ', 'sub_title' => '', 'summary' => 'The decision of the banks and financial institutions to slash the interest rates on deposits has had a positive impact on the NEPSE Index today. The NEPSE Index, which had remained sluggish lately, gained an impressive 92.22 points and closed at 1963.55 today. ', 'content' => '<p><span style="font-size:20px"> April 12: The decision of the banks and financial institutions to slash the interest rates on deposits has had a positive impact on the NEPSE Index today. The NEPSE Index, which had remained sluggish lately, gained an impressive 92.22 points and closed at 1963.55 today. </span></p> <p><span style="font-size:20px">Earlier, Nepal Bankers’ Association had decided to lower the interest rates on deposits by 10%. In the light of this, the interest rates on deposits have decreased to a single digit. </span></p> <p><span style="font-size:20px">Experts say that decision to lower the interest rates had a positive effect on the NEPSE today. Interest rates and stock market have a negative relationship. When the interest rates rise, stock market declines and when the interest rate decreases the stock market goes up.</span></p> <p><span style="font-size:20px">The NEPSE Index went up by 4.95%, which is 92.22 points and closed at 1963.55. </span></p> <p><span style="font-size:20px">A total of 267 scrips traded hands via 47,285 transactions. A total of 6,107,425 shares exchanged hands amounting to Rs. 1.976 billion in turnover amount. This is more than double the last trading day's turnover of Rs. 94.52 crores.</span></p> <p><span style="font-size:20px">Commercial banks, finance companies and micro finances witnessed a massive rise. Banking, development banks, finances and microfinances increased by 5.46%, 5.74%, 6.84% and 5.11% respectively. </span></p> <p><span style="font-size:20px">Shivam Cements Limited (SHIVAM) shares traded the most and had the highest turnover of Rs. 11.71 crores closing at a market price of Rs. 413 per share.</span></p> <p><span style="font-size:20px">Seven scrips gained the highest 10% each and hit the positive circuit for the day.<br /> Conversely, Everest Bank Limited (EBLD86) lost the highest 1.99% today.</span></p> <p><span style="font-size:20px">All sector indices closed in the green zone. "Finance" gained the highest 6.84%, while "Mutual Fund" gained the least 2.87% today.</span><br /> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17272', 'image' => '20230412043608_collage - 2023-04-11T164935.581.jpg', 'article_date' => '2023-04-12 16:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17536', 'article_category_id' => '1', 'title' => 'Government Needs to Spend Rs 277 in Capital Expenditure within 3 Months', 'sub_title' => '', 'summary' => 'April 12: As the ninth month of the current fiscal year is about to end, the state of capital expenditure of the government is disappointing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">April 12: As the ninth month of the current fiscal year is about to end, the state of capital expenditure of the government is disappointing. According to the Financial Comptroller General Office (FCGO), only Rs 102 billion have been spent on the capital budget as of April 11.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital budget allocated for the current fiscal year (FY 2022/23) is 380.38 billion. So far, about 27 percent of the budget has been spent. The progress of the capital budget expenditure in the first and second quarters was very low. Although the expenditure has increased from the third quarter, the government now needs to spend Rs 277 billion capital budget in the remaining three months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital budget expenditure in the current fiscal year is slightly higher than that in the corresponding period of last year. By mid-April last year, the government had spent Rs 98.3 billion in capital budget. In the last fiscal year, the government had allocated Rs 378 billion under the heading of capital expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">This year, the government has spent Rs 883 billion as of April 11 under all headings. This is 49.26 percent of the total budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had announced a budget of Rs 1793.83 billion for the current fiscal year, which was later downsized. Majority of the budget has been allocated for current expenditure. A total of Rs 1183.23 billion has been allocated for current expenses. Since mid-July last, the government has spent Rs 692 billion in the current expenditure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">So far, the government has spent Rs 89 billion on financial management. The target is to spend Rs 230 billion this year in the financial management. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Looking at the way the government has spent the development budget in the nine months, there is no possibility that the remaining amount will be spent in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has said that he will increase the capital expenditure by making an action plan. According to him, the government is focused on increasing capital expenditure and reducing unnecessary expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In the short term, the government's focus will be on domestic spending. “We will reduce the unnecessary expenses of the common people," he said. According to Minister Mahat, the government will make service delivery of state effective by reducing the general expenses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Economist Keshav Acharya says that 100 percent of the budget cannot be spent this year as there is still a large capital budget to be spent. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17271', 'image' => '20230412031757_1681277786.jpg', 'article_date' => '2023-04-12 15:17:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17535', 'article_category_id' => '1', 'title' => 'Government Directs Health Facilities to be Prepared for Possible COVID-19 Risk ', 'sub_title' => '', 'summary' => 'April 12: The Ministry of Health and Population has instructed various health facilities to remain on standby in view of increasing cases of COVID-19 in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: The Ministry of Health and Population has instructed various health facilities to remain on standby in view of increasing cases of COVID-19 in the country. The directive came as the daily graph of fresh COVID-19 cases is going up lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cases of mutated Omicron sub-variant XBB1.16.1 of COVID -19 found in neighbouring India have been recorded lately in Nepal as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director of the Epidemiology and Disease Control Division, Dr Chuman Lal Das, the latest variant of COVID-19 is more infectious and hospitals are directed to be in ready position to respond to the possible situation ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital, Shukraraj Tropical and Infectious Disease Hospital, TU Teaching Hospital, Patan Academy of Health Sciences, Civil Service Hospital, Armed Police Force Hospital and Nepal Police Hospital are among those health facilities directed to be prepared for handling the untoward situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Wednesday, a person succumbed to COVID-19, the first death from virus in over three months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital’s Director Dr Santosh Poudel said they have been directed to be prepared for the response to COVID-19 in view of its soaring cases lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shukraraj Tropical and Infectious Disease Hospital’s chief Dr Bimal Chalise said they are alert about the possible risk of infections and are prepared accordingly. "There is no need to panic, but we must be alert about the possible risk," he said, adding that the hospital has a patient on a ventilator and two ICU cases related to Covid-19 at the moment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Wednesday, 106 new cases of COVID-19 were reported in the country. At present, 24 infected patients are in isolation, 13 in ICU care and five on ventilator support for COVID-19. The division has said it has tightened COVID-19 check along the Nepal-India border since Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17270', 'image' => '20230412025457_health-ministry.jpg', 'article_date' => '2023-04-12 14:54:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17534', 'article_category_id' => '1', 'title' => '35 Percent Shutters Closed in Kathmandu', 'sub_title' => '', 'summary' => 'April 12: As the small businessmen living in the capital valley have fled, about 35 percent of the shutters used by them have now become empty.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">April 12: As the small businessmen living in the capital valley have fled, about 35 percent of the shutters used by them have now become empty. When businesses crumbled due to the recession, the small businessmen fled as they were unable to pay the rents and high interest rates of banks. On top o f it, the landlords increased the rents. Due to this, the shutters made for commercial purposes are being emptied rapidly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen estimate that the process of evacuating shutters and fleeing will continue to increase. Naresh Katuwal, president of the National Federation of Independent Businesses (NFIB) says that small traders are the most affected by economic slowdown.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The decline in purchasing capacity of the consumers has resulted a slump in business slump which has also been affected by the increment in rents by landlords and interest rates by the banks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Katuwal, overall business has shrunk to 30 to 40 percent compared to the normal situation. He told that most of the landlords in the valley increase the rent by 10 percent every year. Katuwal said, “Business is declining due to lack of liquidity, high rent, high interest rate of banks and increasing competition. As a result, the businessmen are forced to flee the business by emptying the shutters.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking with New Business Age, he added, “We estimate that about 35 percent of the shutters are empty now.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As a result of the recession in business, shutters have been in areas including New Road, Asan, Indrachok, Khichhapokhari, Thamel, Sundhara, Balaju, Kalanki, Chabahil, Koteshwar and Baneshwor. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen are paying rent ranging from Rs 50,000 to 500,000 per month for a single shutter in those areas.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The business sector, which has slowed down after the Covid-19 pandemic, has reached a situation where traders are unable to cope with the crisis due to the disruptions from all sides. Ranjit Tandukar, who is dealing in ready-made clothes, says that their business has slumped due to the decrease in consumer's income. He says that most of the people who come to the shop ask for the price of the goods and return.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">More than 15,000 businessmen of the valley are affiliated to NFIB. During the Covid-19 pandemic, when the shutters had to be closed, some landlords had waived their house rent at the initiative of the federation. At that time, Civil Mall, People's Plaza, Ranjana Trade Mall and others in New Road and the surrounding areas gave a rent discount of 1 to 7 months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Economist Gyanendra Adhikari says that the biggest weakness of the government is that the small businessmen are unable to cope with the current crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, the government should implement separate policies for small and big businesses in the monetary policy and budget. He argues that when the government made policies and rules for businessmen who can employ thousands of human resources and also to those who employ five people, small businessmen suffered the most during the crisis. Officials say that the current situation has come because there is no investment environment due to political instability and the global economic crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">To prevent the businessmen from giving up on their businesses, the businessmen demand that the house rent should be fixed on the basis of square feet by implementing the scientific home rent rate and the interest rate of the bank which is in double digits should be reduced to a single digit.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17269', 'image' => '20230412012352_1681191833.jpg', 'article_date' => '2023-04-12 13:23:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17533', 'article_category_id' => '1', 'title' => 'Foreign Exchange Reserves Rises to Rs 1401.21 Billion: NRB ', 'sub_title' => '', 'summary' => 'April 12: Though the foreign exchange reserves have increased in the country, the current account remained at a deficit of Rs 44.31 billion in the first eight months of the current fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: Though the foreign exchange reserves have increased in the country, the current account remained at a deficit of Rs 44.31 billion in the first eight months of the current fiscal year. During the same period of the last fiscal year, the current account was in a deficit of Rs 460.72 billion. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Current Macroeconomic and Financial Situation Report of Nepal based on eight months' data published by the Nepal Rastra Bank, the gross foreign exchange reserves increased 15.2 per cent to Rs 1401.21 billion in mid-March 2023 from Rs 1215.80 billion in mid-July 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Balance of Payments (BOP) remained at a surplus of Rs 148.11 billion in the review period compared to a deficit of Rs 258.64 billion in the same period of the previous year, the central bank said. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Of the total foreign exchange reserves, reserves held by the central bank increased 17.8 per cent to Rs 1244.94 billion in mid-March 2023 from Rs 1056.39 billion in mid-July 2022. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Rastra Bank said that the reserves held by banks and financial institutions decreased 2 per cent to Rs 156.27 billion in mid-March 2023. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the NRB stated that the foreign exchange reserves of the banking sector is sufficient to cover the prospective imports of 10.9 months, and merchandise and services imports of 9.4 months. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17268', 'image' => '20230412100646_20230411103324_20220406032048_NRBnew.jpg', 'article_date' => '2023-04-12 10:05:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17532', 'article_category_id' => '1', 'title' => 'No Environment for Investment Despite Availability of Fund: Golyan ', 'sub_title' => '', 'summary' => 'April 12: Chairperson of the Confederation of Banks and Financial Institutions Nepal (CBFIN) Pawan Kumar Golyan insists that there is no investment-friendly environment in the country despite availability of liquidity in banks and financial institutions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: Chairperson of the Confederation of Banks and Financial Institutions Nepal (CBFIN) Pawan Kumar Golyan insists that there is no investment-friendly environment in the country despite availability of liquidity in banks and financial institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference organized by CBFIN in Lalitpur on Tuesday, Chairperson Golyan said the financial institutions were afraid of flowing new investment despite having adequate deposits in banks. </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"">"Banks and financial institutions' staff are not assured that loan invested in different sectors would be paid back," said Golyan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the media to raise the issue that it is inappropriate to create an environment for not repaying loan in an organized manner. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The interest rate charged for productive sector should be lower than the interest rates for unproductive sector," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The high interest rate was to check flight of money for purchasing luxurious goods. But, the banks and financial institutions received huge amount of deposit due to higher interest rates. On the other hand, entrepreneurs are not in a position to bear the existing interest rates. Therefore, interest rates should be lowered," he noted. </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"">On the occasion, Golyan said the interest rates should be lowered effective from mid-April since the entrepreneurs are not being able to pay back the interest rates of the loan.</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"">According to Golyan, banks have invested Rs 200 billion in small hydropower based energy sector.</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"">CBFIN secretary Pushpa Sharan Mallik said the banks and financial institutions should discourage fixed deposit below one year so as to reduce interest rates. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17267', 'image' => '20230412094113_pawan.jpg', 'article_date' => '2023-04-12 09:40:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17531', 'article_category_id' => '1', 'title' => 'Voting to Elect New Executive Committee of FNCCI Begins', 'sub_title' => '', 'summary' => 'April 12: Voting for the election of a new executive committee of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the largest umbrella organization of industrialists in the country, has started from 8 am this morning.', '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"">April 12: Voting for the election of a new executive committee of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the largest umbrella organization of industrialists in the country, has started from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">am this morning.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the election schedule, voting will be held at the Nepal Academy Hall in Kamaladi, Kathmandu till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> pm.</span></span></span></span></p> <p><span style="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 ongoing 57<sup>th</sup> Annual General Meeting of FNCCI will elect one senior vice president, three vice presidents and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">59</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">executive committee members. On the other hand, four members of the executive committee have been elected unanimously.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of FNCCI, the term of the current president Shekhar Golchha will continue until the AGM concludes, while Chandra Prasad Dhakal, who is currently the senior vice president, will automatically become the president of the federation from April 13.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Three people are competing for the position of senior vice president to lead the federation in the next term. Those in the fray for the coveted post are former FNCCI vice-president Umesh Lal Shrestha, and incumbent vice-presidents Ram Chandra Sanghai and Anjan Shrestha.</span></span></span></span></p> <p><span style="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 election of the senior vice-president of the federation is being watched with much interest due to the provision that the senior vice president will automatically become the president in the next term.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This is the first time that three candidates are contesting for the post of senior vice-president.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the statute of the FNCCI, a candidate must receive 51 percent of the total votes to be elected as the senior vice president. If no candidate gets 51 percent of the votes in the first round of voting, a second round of voting will be held. According to the federation, only the two candidates who get the most votes will compete in the second round.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17265', 'image' => '20230412092110_PRO_KTM-6F8A4345.jpg', 'article_date' => '2023-04-12 09:16:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17529', 'article_category_id' => '1', 'title' => 'IMF Lowers 2023 Global Growth Forecast to 2.8 Percent', 'sub_title' => 'IMF Warns of Half-Decade of Low Growth', 'summary' => 'April 12: The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">April 12: The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to the AFP, the IMF predicted the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its previous forecasts in January.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">“The baseline forecast is for growth to fall from 3.4 percent in 2022 to 2.8 percent in 2023, before settling at 3.0 percent in 2024,” reads the IMF's World Economic Outlook (WEO) report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Advanced economies are expected to see an especially pronounced growth slowdown, from 2.7 percent in 2022 to 1.3 percent in 2023.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"The global economy is recovering from the shocks of the last few years, and particularly of course the pandemic, but also the Russian invasion of Ukraine," IMF chief economist Pierre-Olivier Gourinchas said in a press briefing ahead of the release of the IMF's World Economic Outlook (WEO) report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Supply-chain disruptions and rising geopolitical tensions have brought the risks and potential benefits and costs of geoeconomic fragmentation to the center of the policy debate, IMF wrote on its website.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The overall picture painted by the WEO is a gloomy one, with global growth forecast to slow in both the short and medium terms, says AFP.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Close to 90 percent of advanced economies will experience slowing growth this year, while Asia's emerging markets are expected to see a substantial rise in economic output -- with India and China predicted to account for half of all growth, IMF managing director Kristalina Georgieva said last week.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Low-income countries, meanwhile, are expected to suffer a double shock from higher borrowing costs due to high interest rates, and a decline in demand for their exports, Georgieva said. This could worsen poverty and hunger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Global headline inflation in the baseline is set to fall from 8.7 percent in 2022 to 7.0 percent in 2023 on the back of lower commodity prices but underlying (core) inflation is likely to decline more slowly, added the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">This figure remains significantly above the two-percent target set by the US Federal Reserve and other central banks around the world, suggesting monetary policymakers have a long way to go before inflation is brought back under control, according to AFP.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to the forecast, public debt as a ratio to GDP soared across the world during COVID-19 and is expected to remain elevated.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The IMF's baseline forecasts assume that the financial instability sparked by the collapse of Silicon Valley Bank last month has been broadly contained by the "forceful actions" of regulators on both sides of the Atlantic, Gourinchas told reporters.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Furthermore, the IMF forecasts that global growth will fall to three percent in 2028, its lowest medium-term forecast since the 1990s.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17264', 'image' => '20230412085500_20230411110137_2016_09_19_12250_1474286456._large.jpg', 'article_date' => '2023-04-12 08:53:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17528', 'article_category_id' => '218', 'title' => 'Nepali Banks Are Safe and Sound, Says Governor Adhikari ', 'sub_title' => '', 'summary' => 'April 12: The Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, said that the condition of Nepal's banks and financial institutions is safe and sound at present. ', 'content' => '<p><span style="font-size:20px">April 12: The Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, said that the condition of Nepal's banks and financial institutions is safe and sound at present. </span></p> <p><span style="font-size:20px">In a press meet organized by the NRB to release the current macroeconomic and financial situation of Nepal based on eight months' data of the current fiscal year on Tuesday, Governor Adhikari said that the positive changes seen in the economic indicators at present have signaled the safe and sound status of banks and financial institutions. </span></p> <p><span style="font-size:20px">On the occasion, the Governor said that the issue of liquidity crunch will not continue in the banks and financial institutions for a long time, due to improvement in economic indicators owing to central bank's prudential regulations. </span></p> <p><span style="font-size:20px">"Minor shocks cannot and will not have any impact in the banking sector and overall economy as financial statistics are robust”, according to Governor Adhikari. </span></p> <p><span style="font-size:20px">Contrary to Prime Minister Pushpa Kamal Dahal and Finance Minister Dr Prakash Sharan Mahat’s assurances of lowering the interest rates, Governor Adhikari made it clear that markets will determine the banks’ interest rates. </span></p> <p><span style="font-size:20px">“Demand and supply, and state of liquidity will determine bank interest rates. Nepal Rastra Bank will not interfere with interest rates as markets will determine the rates,” <br /> Adhikari clarified. </span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17263', 'image' => '20230412061029_collage (70).jpg', 'article_date' => '2023-04-12 06:08:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17525', 'article_category_id' => '1', 'title' => 'Govt Decides to Test Level of Pesticides on Imported Goods for Consumption', 'sub_title' => '', 'summary' => 'April 11: A meeting of the Council of Ministers held on Tuesday approved a proposal received from the infrastructure committee of the Council of Ministers on testing the maximum level of pesticides in all the imported goods for consumption. ', 'content' => '<h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">April 11: A meeting of the Council of Ministers held on Tuesday approved a proposal received from the infrastructure committee of the Council of Ministers on testing the maximum level of pesticides in all the imported goods for consumption. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Emerging from the meeting, Minister for Communications and Information Technology Rekha Sharma, who is also the government's spokesperson, said that the meeting also took seriously to the statements made by the Mayor of Kathmandu Metropolitan City (KMC) on garbage collection from Sheetal Niwas, Baluwatar and Singhadurbar. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">The cabinet meeting has taken the statements made by the KMC Mayor Balendra Sah seriously and has drawn his attention to abide by the policy-level provisions on garbage collection, and take the initiatives for garbage collection, said Minister Sharma. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Furthermore, the cabinet meeting appointed Govinda Acharya as the Press Advisor to Prime Minister Pushpa Kamal Dahal, Minister Sharma said.</span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Journalist Acharya is the former Chairman of the Federation of Nepali Journalists (FNJ) as well. -- RSS</span></span></span></h4> <h4> </h4> <p> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17260', 'image' => '20230411102742_PRO_KTM-066A4669.jpg', 'article_date' => '2023-04-11 22:26:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17524', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Gorkha ', 'sub_title' => '', 'summary' => 'April 11: An earthquake with its epicenter at Baluwa of Gorkha district on Tuesday evening. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 11: An earthquake with its epicenter at Baluwa of Gorkha district on Tuesday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Centre stated that the earthquake measuring 4.1 magnitude in Richter scale took place at 6:50 on Tuesday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the quake was felt in Gorkha, Lamjung and the neighbouring districts. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17259', 'image' => '20230411102343_20230329121710_earth.jpg', 'article_date' => '2023-04-11 22:23:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17523', 'article_category_id' => '1', 'title' => 'NEPSE Gains 27.31 Points to Close at 1871.33 ', 'sub_title' => '', 'summary' => 'The NEPSE Index gained 1.48%, 27.31 points, and closed at 1871.33 on the third trading of the week on Tuesday. ', 'content' => '<p><br /> <span style="font-size:20px">April 11: The NEPSE Index gained 1.48%, 27.31 points, and closed at 1871.33 on the third trading of the week on Tuesday. </span></p> <p><span style="font-size:20px">In a program organized in Kathmandu today, Prime Minister Pushpa Kamal Dahal and Finance Minister Dr Prakash Sharan Mahat had stated that the Nepal Rastra Bank should loosen its tight monetary policy.</span></p> <p><span style="font-size:20px">The data unveiled by Nepal Rastra Bank on the current macroeconomic and financial situation of Nepal based on eight months’ data ending mid-March 2023 on Tuesday show that major indicators of the country’s economy are improving. Especially, remittances and status of balance of payment are strengthening.</span></p> <p><span style="font-size:20px">The government’s positive responses to tackle the financial crisis facing the country and Rastra Bank’s data showing economic improvement have had a positive impact on the NEPSE today, say knowledgeable people. </span></p> <p><span style="font-size:20px">A total of 262 scrips traded hands via 35,237 transactions. A total of 3,315,720 shares exchanged hands with a turnover amount of Rs 94.52 crores. This is higher than the last trading day's turnover of Rs. 91.19 Crores.</span></p> <p><span style="font-size:20px">Shivam Cements Limited SHIVM) had the highest turnover of Rs. 7.1 crores closing at a market price of Rs. 400 per share. The shares of PRVU traded the most.</span></p> <p><span style="font-size:20px">Kalinchowk Darshan Limited (KDL) gained the highest 10% and hit the positive circuit for the day. Conversely, Sanima Middle Tamor Hydropower Limited (TAMOR) lost the highest 3.54% today.</span></p> <p><span style="font-size:20px">All sub- indices closed in the green zone. "Manufacturing and Processing" gained the highest 3.28%, while "Non-Life Insurance" gained the least 0.76% today. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17258', 'image' => '20230411045134_collage - 2023-04-11T164935.581.jpg', 'article_date' => '2023-04-11 16:48:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17522', 'article_category_id' => '1', 'title' => 'Decline in Imports and Exports Results in Reduction in Trade Deficit', 'sub_title' => '', 'summary' => 'April 11: Merchandise exports of Nepal declined 29.1 percent during the eight months of FY 2022/23 to Rs 104.80 billion against an increase of 82.9 percent in the same period of the previous year, according to the Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 11: Merchandise exports of Nepal declined 29.1 percent during the eight months of FY 2022/23 to Rs 104.80 billion against an increase of 82.9 percent in the same period of the previous year, according to the Nepal Rastra Bank. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India and China decreased 37.5 percent and 4.9 percent respectively whereas exports to other countries increased 6.0 percent, states the Current Macroeconomic and Financial Situation Report published by NRB on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, exports of zinc sheet, cardamom, particle board, woolen carpets, tea, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, merchandise imports decreased 19.1 percent to Rs 1058.39 billion during the eight months of 2022/23 against an increase of 38.6 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries decreased 17.6 percent, 21.7 percent, and 21.4 percent respectively. Imports of petroleum products, chemical fertilizer, sponge iron, gold, other stationeries, among others, increased whereas imports of transport equipment and parts, medicine, MS billet, crude soybean oil, telecommunication equipment and parts, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Jaleshwar, Kailali, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan Airport customs offices increased whereas exports from all the other major customs points decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the import side, imports from all the major customs points decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, the total trade deficit decreased 17.9 percent to Rs 953.59 billion during the eight months of 2022/23. Such a deficit had increased 34.5 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio decreased to 9.9 percent in the review period from 11.3 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eight months of 2022/23, merchandise imports from India by paying convertible foreign currency amounted Rs 85.12 billion. Such amount was Rs 147.03 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17257', 'image' => '20230411043133_Trade.jpg', 'article_date' => '2023-04-11 16:30:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17539', 'article_category_id' => '266', 'title' => 'Jagdamba Motors Pvt. Ltd Rolls Out TVS NTORQ 125 Race Edition Scooter ', 'sub_title' => '', 'summary' => 'Jagdamba Motors Pvt. Ltd., the sole authorized distributor of TVS Motor Company in Nepal, has launched a TVS NTORQ 125 Race Edition scooter in new Marine Blue colour. ', 'content' => '<p> </p> <p><span style="font-size:20px">April 13: Jagdamba Motors Pvt. Ltd., the sole authorized distributor of TVS Motor Company in Nepal, has launched a TVS NTORQ 125 Race Edition scooter in new Marine Blue colour. </span></p> <p><span style="font-size:20px">The exciting new color will be available alongside the popular Race Edition Red & Yellow color, which has been highly embraced and adored by Generation Z throughout the years.</span></p> <p><span style="font-size:20px">With colorful chequered flag race-inspired graphics, the TVS NTORQ 125 Race Edition’s new striking Marine Blue color gives a distinct style and adds complete newness to the scooter. </span></p> <p><span style="font-size:20px">The unusual three tone combination of black, metallic black and metallic blue makes the scooter indisputably different and stands out from the rest. </span></p> <p><span style="font-size:20px">Mr. Shahil Agrawal, Managing Director, Jagdamba Motors Pvt. Ltd., said that TVS NTORQ RT-Fi 125 Race Edition-Marine Blue is designed to create a best-in-class ownership experience with the inclusion of RT-Fi. “We have rolled out TVS NTORQ RT-Fi 125 Race Edition to give young customers a new experience,” said Agrawal. </span></p> <p><span style="font-size:20px">Akhil Gupta, Executive Director of Jagdamba Motors Pvt. Ltd. Said TVS NTORQ RT-Fi 125 has redefined the expectation of scooter consumers in Nepal by creating an exciting, powerful, connected experience for the Gen Z. </span></p> <p><span style="font-size:20px">TVS NTORQ 125 Race Edition is powered by a 124.8 cc, single-cylinder, 4-stroke, 3-valve, air-cooled SOHC, fuel injected engine. The Race Edition boasts of a 95 kmph top speed and accelerates from 0-60 kmph in just 9 seconds.<br /> The new TVS NTORQ 125 Race Edition in Marine Blue colour is priced at Rs 2,99,900 in Nepali market. </span></p> ', 'published' => true, 'created' => '2023-04-13', 'modified' => '2023-04-13', 'keywords' => '', 'description' => '', 'sortorder' => '17274', 'image' => '20230413062551_collage (71).jpg', 'article_date' => '2023-04-13 06:23:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17538', 'article_category_id' => '218', 'title' => 'Himalayan Bank Launches Disability-friendly ATM at Sipnal Injury Rehabilitation Center ', 'sub_title' => '', 'summary' => 'Himalayan Bank Limited has brought a disability-friendly Automated Teller Machine (ATM) into operation on the premises of Spinal Injury Rehabilitation Center sat Kavre’s Sanga. ', 'content' => '<p><span style="font-size:20px">April 12: Himalayan Bank Limited has brought a disability-friendly Automated Teller Machine (ATM) into operation on the premises of Spinal Injury Rehabilitation Center sat Kavre’s Sanga. </span></p> <p><span style="font-size:20px">“We have brought the disability-friendly ATM into operation to ensure everyone’s access to banking facility,” said the bank. </span></p> <p><span style="font-size:20px">On the occasion of the 21st anniversary of the rehabilitation center last Friday, Banepa Municipality’s Mayor Shantiranta Shakya, Himalyan Bank’s Chairman Prachanda Bahadaur Shrestha and Rehabilitation Center’s Chairperson Dr Shanta Dixit jointly inaugurated the ATM. </span></p> <p><span style="font-size:20px">The bank has been providing services through 189 branches, 20 extended counters, and more than 262 ATMs to its customers across the country. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17273', 'image' => '20230412052815_collage - 2023-04-12T172705.972.jpg', 'article_date' => '2023-04-12 17:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17537', 'article_category_id' => '1', 'title' => ' The NEPSE Index Records Impressive Gains of 99.22 Points; So Does Turnover Amount ', 'sub_title' => '', 'summary' => 'The decision of the banks and financial institutions to slash the interest rates on deposits has had a positive impact on the NEPSE Index today. The NEPSE Index, which had remained sluggish lately, gained an impressive 92.22 points and closed at 1963.55 today. ', 'content' => '<p><span style="font-size:20px"> April 12: The decision of the banks and financial institutions to slash the interest rates on deposits has had a positive impact on the NEPSE Index today. The NEPSE Index, which had remained sluggish lately, gained an impressive 92.22 points and closed at 1963.55 today. </span></p> <p><span style="font-size:20px">Earlier, Nepal Bankers’ Association had decided to lower the interest rates on deposits by 10%. In the light of this, the interest rates on deposits have decreased to a single digit. </span></p> <p><span style="font-size:20px">Experts say that decision to lower the interest rates had a positive effect on the NEPSE today. Interest rates and stock market have a negative relationship. When the interest rates rise, stock market declines and when the interest rate decreases the stock market goes up.</span></p> <p><span style="font-size:20px">The NEPSE Index went up by 4.95%, which is 92.22 points and closed at 1963.55. </span></p> <p><span style="font-size:20px">A total of 267 scrips traded hands via 47,285 transactions. A total of 6,107,425 shares exchanged hands amounting to Rs. 1.976 billion in turnover amount. This is more than double the last trading day's turnover of Rs. 94.52 crores.</span></p> <p><span style="font-size:20px">Commercial banks, finance companies and micro finances witnessed a massive rise. Banking, development banks, finances and microfinances increased by 5.46%, 5.74%, 6.84% and 5.11% respectively. </span></p> <p><span style="font-size:20px">Shivam Cements Limited (SHIVAM) shares traded the most and had the highest turnover of Rs. 11.71 crores closing at a market price of Rs. 413 per share.</span></p> <p><span style="font-size:20px">Seven scrips gained the highest 10% each and hit the positive circuit for the day.<br /> Conversely, Everest Bank Limited (EBLD86) lost the highest 1.99% today.</span></p> <p><span style="font-size:20px">All sector indices closed in the green zone. "Finance" gained the highest 6.84%, while "Mutual Fund" gained the least 2.87% today.</span><br /> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17272', 'image' => '20230412043608_collage - 2023-04-11T164935.581.jpg', 'article_date' => '2023-04-12 16:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17536', 'article_category_id' => '1', 'title' => 'Government Needs to Spend Rs 277 in Capital Expenditure within 3 Months', 'sub_title' => '', 'summary' => 'April 12: As the ninth month of the current fiscal year is about to end, the state of capital expenditure of the government is disappointing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">April 12: As the ninth month of the current fiscal year is about to end, the state of capital expenditure of the government is disappointing. According to the Financial Comptroller General Office (FCGO), only Rs 102 billion have been spent on the capital budget as of April 11.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital budget allocated for the current fiscal year (FY 2022/23) is 380.38 billion. So far, about 27 percent of the budget has been spent. The progress of the capital budget expenditure in the first and second quarters was very low. Although the expenditure has increased from the third quarter, the government now needs to spend Rs 277 billion capital budget in the remaining three months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital budget expenditure in the current fiscal year is slightly higher than that in the corresponding period of last year. By mid-April last year, the government had spent Rs 98.3 billion in capital budget. In the last fiscal year, the government had allocated Rs 378 billion under the heading of capital expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">This year, the government has spent Rs 883 billion as of April 11 under all headings. This is 49.26 percent of the total budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had announced a budget of Rs 1793.83 billion for the current fiscal year, which was later downsized. Majority of the budget has been allocated for current expenditure. A total of Rs 1183.23 billion has been allocated for current expenses. Since mid-July last, the government has spent Rs 692 billion in the current expenditure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">So far, the government has spent Rs 89 billion on financial management. The target is to spend Rs 230 billion this year in the financial management. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Looking at the way the government has spent the development budget in the nine months, there is no possibility that the remaining amount will be spent in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has said that he will increase the capital expenditure by making an action plan. According to him, the government is focused on increasing capital expenditure and reducing unnecessary expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In the short term, the government's focus will be on domestic spending. “We will reduce the unnecessary expenses of the common people," he said. According to Minister Mahat, the government will make service delivery of state effective by reducing the general expenses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Economist Keshav Acharya says that 100 percent of the budget cannot be spent this year as there is still a large capital budget to be spent. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17271', 'image' => '20230412031757_1681277786.jpg', 'article_date' => '2023-04-12 15:17:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17535', 'article_category_id' => '1', 'title' => 'Government Directs Health Facilities to be Prepared for Possible COVID-19 Risk ', 'sub_title' => '', 'summary' => 'April 12: The Ministry of Health and Population has instructed various health facilities to remain on standby in view of increasing cases of COVID-19 in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: The Ministry of Health and Population has instructed various health facilities to remain on standby in view of increasing cases of COVID-19 in the country. The directive came as the daily graph of fresh COVID-19 cases is going up lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cases of mutated Omicron sub-variant XBB1.16.1 of COVID -19 found in neighbouring India have been recorded lately in Nepal as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director of the Epidemiology and Disease Control Division, Dr Chuman Lal Das, the latest variant of COVID-19 is more infectious and hospitals are directed to be in ready position to respond to the possible situation ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital, Shukraraj Tropical and Infectious Disease Hospital, TU Teaching Hospital, Patan Academy of Health Sciences, Civil Service Hospital, Armed Police Force Hospital and Nepal Police Hospital are among those health facilities directed to be prepared for handling the untoward situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Wednesday, a person succumbed to COVID-19, the first death from virus in over three months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital’s Director Dr Santosh Poudel said they have been directed to be prepared for the response to COVID-19 in view of its soaring cases lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shukraraj Tropical and Infectious Disease Hospital’s chief Dr Bimal Chalise said they are alert about the possible risk of infections and are prepared accordingly. "There is no need to panic, but we must be alert about the possible risk," he said, adding that the hospital has a patient on a ventilator and two ICU cases related to Covid-19 at the moment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Wednesday, 106 new cases of COVID-19 were reported in the country. At present, 24 infected patients are in isolation, 13 in ICU care and five on ventilator support for COVID-19. The division has said it has tightened COVID-19 check along the Nepal-India border since Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17270', 'image' => '20230412025457_health-ministry.jpg', 'article_date' => '2023-04-12 14:54:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17534', 'article_category_id' => '1', 'title' => '35 Percent Shutters Closed in Kathmandu', 'sub_title' => '', 'summary' => 'April 12: As the small businessmen living in the capital valley have fled, about 35 percent of the shutters used by them have now become empty.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">April 12: As the small businessmen living in the capital valley have fled, about 35 percent of the shutters used by them have now become empty. When businesses crumbled due to the recession, the small businessmen fled as they were unable to pay the rents and high interest rates of banks. On top o f it, the landlords increased the rents. Due to this, the shutters made for commercial purposes are being emptied rapidly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen estimate that the process of evacuating shutters and fleeing will continue to increase. Naresh Katuwal, president of the National Federation of Independent Businesses (NFIB) says that small traders are the most affected by economic slowdown.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The decline in purchasing capacity of the consumers has resulted a slump in business slump which has also been affected by the increment in rents by landlords and interest rates by the banks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Katuwal, overall business has shrunk to 30 to 40 percent compared to the normal situation. He told that most of the landlords in the valley increase the rent by 10 percent every year. Katuwal said, “Business is declining due to lack of liquidity, high rent, high interest rate of banks and increasing competition. As a result, the businessmen are forced to flee the business by emptying the shutters.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking with New Business Age, he added, “We estimate that about 35 percent of the shutters are empty now.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As a result of the recession in business, shutters have been in areas including New Road, Asan, Indrachok, Khichhapokhari, Thamel, Sundhara, Balaju, Kalanki, Chabahil, Koteshwar and Baneshwor. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen are paying rent ranging from Rs 50,000 to 500,000 per month for a single shutter in those areas.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The business sector, which has slowed down after the Covid-19 pandemic, has reached a situation where traders are unable to cope with the crisis due to the disruptions from all sides. Ranjit Tandukar, who is dealing in ready-made clothes, says that their business has slumped due to the decrease in consumer's income. He says that most of the people who come to the shop ask for the price of the goods and return.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">More than 15,000 businessmen of the valley are affiliated to NFIB. During the Covid-19 pandemic, when the shutters had to be closed, some landlords had waived their house rent at the initiative of the federation. At that time, Civil Mall, People's Plaza, Ranjana Trade Mall and others in New Road and the surrounding areas gave a rent discount of 1 to 7 months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Economist Gyanendra Adhikari says that the biggest weakness of the government is that the small businessmen are unable to cope with the current crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, the government should implement separate policies for small and big businesses in the monetary policy and budget. He argues that when the government made policies and rules for businessmen who can employ thousands of human resources and also to those who employ five people, small businessmen suffered the most during the crisis. Officials say that the current situation has come because there is no investment environment due to political instability and the global economic crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">To prevent the businessmen from giving up on their businesses, the businessmen demand that the house rent should be fixed on the basis of square feet by implementing the scientific home rent rate and the interest rate of the bank which is in double digits should be reduced to a single digit.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17269', 'image' => '20230412012352_1681191833.jpg', 'article_date' => '2023-04-12 13:23:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17533', 'article_category_id' => '1', 'title' => 'Foreign Exchange Reserves Rises to Rs 1401.21 Billion: NRB ', 'sub_title' => '', 'summary' => 'April 12: Though the foreign exchange reserves have increased in the country, the current account remained at a deficit of Rs 44.31 billion in the first eight months of the current fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: Though the foreign exchange reserves have increased in the country, the current account remained at a deficit of Rs 44.31 billion in the first eight months of the current fiscal year. During the same period of the last fiscal year, the current account was in a deficit of Rs 460.72 billion. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Current Macroeconomic and Financial Situation Report of Nepal based on eight months' data published by the Nepal Rastra Bank, the gross foreign exchange reserves increased 15.2 per cent to Rs 1401.21 billion in mid-March 2023 from Rs 1215.80 billion in mid-July 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Balance of Payments (BOP) remained at a surplus of Rs 148.11 billion in the review period compared to a deficit of Rs 258.64 billion in the same period of the previous year, the central bank said. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Of the total foreign exchange reserves, reserves held by the central bank increased 17.8 per cent to Rs 1244.94 billion in mid-March 2023 from Rs 1056.39 billion in mid-July 2022. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Rastra Bank said that the reserves held by banks and financial institutions decreased 2 per cent to Rs 156.27 billion in mid-March 2023. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the NRB stated that the foreign exchange reserves of the banking sector is sufficient to cover the prospective imports of 10.9 months, and merchandise and services imports of 9.4 months. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17268', 'image' => '20230412100646_20230411103324_20220406032048_NRBnew.jpg', 'article_date' => '2023-04-12 10:05:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17532', 'article_category_id' => '1', 'title' => 'No Environment for Investment Despite Availability of Fund: Golyan ', 'sub_title' => '', 'summary' => 'April 12: Chairperson of the Confederation of Banks and Financial Institutions Nepal (CBFIN) Pawan Kumar Golyan insists that there is no investment-friendly environment in the country despite availability of liquidity in banks and financial institutions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: Chairperson of the Confederation of Banks and Financial Institutions Nepal (CBFIN) Pawan Kumar Golyan insists that there is no investment-friendly environment in the country despite availability of liquidity in banks and financial institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference organized by CBFIN in Lalitpur on Tuesday, Chairperson Golyan said the financial institutions were afraid of flowing new investment despite having adequate deposits in banks. </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"">"Banks and financial institutions' staff are not assured that loan invested in different sectors would be paid back," said Golyan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the media to raise the issue that it is inappropriate to create an environment for not repaying loan in an organized manner. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The interest rate charged for productive sector should be lower than the interest rates for unproductive sector," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The high interest rate was to check flight of money for purchasing luxurious goods. But, the banks and financial institutions received huge amount of deposit due to higher interest rates. On the other hand, entrepreneurs are not in a position to bear the existing interest rates. Therefore, interest rates should be lowered," he noted. </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"">On the occasion, Golyan said the interest rates should be lowered effective from mid-April since the entrepreneurs are not being able to pay back the interest rates of the loan.</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"">According to Golyan, banks have invested Rs 200 billion in small hydropower based energy sector.</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"">CBFIN secretary Pushpa Sharan Mallik said the banks and financial institutions should discourage fixed deposit below one year so as to reduce interest rates. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17267', 'image' => '20230412094113_pawan.jpg', 'article_date' => '2023-04-12 09:40:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17531', 'article_category_id' => '1', 'title' => 'Voting to Elect New Executive Committee of FNCCI Begins', 'sub_title' => '', 'summary' => 'April 12: Voting for the election of a new executive committee of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the largest umbrella organization of industrialists in the country, has started from 8 am this morning.', '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"">April 12: Voting for the election of a new executive committee of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the largest umbrella organization of industrialists in the country, has started from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">am this morning.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the election schedule, voting will be held at the Nepal Academy Hall in Kamaladi, Kathmandu till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> pm.</span></span></span></span></p> <p><span style="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 ongoing 57<sup>th</sup> Annual General Meeting of FNCCI will elect one senior vice president, three vice presidents and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">59</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">executive committee members. On the other hand, four members of the executive committee have been elected unanimously.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of FNCCI, the term of the current president Shekhar Golchha will continue until the AGM concludes, while Chandra Prasad Dhakal, who is currently the senior vice president, will automatically become the president of the federation from April 13.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Three people are competing for the position of senior vice president to lead the federation in the next term. Those in the fray for the coveted post are former FNCCI vice-president Umesh Lal Shrestha, and incumbent vice-presidents Ram Chandra Sanghai and Anjan Shrestha.</span></span></span></span></p> <p><span style="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 election of the senior vice-president of the federation is being watched with much interest due to the provision that the senior vice president will automatically become the president in the next term.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This is the first time that three candidates are contesting for the post of senior vice-president.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the statute of the FNCCI, a candidate must receive 51 percent of the total votes to be elected as the senior vice president. If no candidate gets 51 percent of the votes in the first round of voting, a second round of voting will be held. According to the federation, only the two candidates who get the most votes will compete in the second round.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17265', 'image' => '20230412092110_PRO_KTM-6F8A4345.jpg', 'article_date' => '2023-04-12 09:16:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17529', 'article_category_id' => '1', 'title' => 'IMF Lowers 2023 Global Growth Forecast to 2.8 Percent', 'sub_title' => 'IMF Warns of Half-Decade of Low Growth', 'summary' => 'April 12: The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">April 12: The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to the AFP, the IMF predicted the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its previous forecasts in January.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">“The baseline forecast is for growth to fall from 3.4 percent in 2022 to 2.8 percent in 2023, before settling at 3.0 percent in 2024,” reads the IMF's World Economic Outlook (WEO) report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Advanced economies are expected to see an especially pronounced growth slowdown, from 2.7 percent in 2022 to 1.3 percent in 2023.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"The global economy is recovering from the shocks of the last few years, and particularly of course the pandemic, but also the Russian invasion of Ukraine," IMF chief economist Pierre-Olivier Gourinchas said in a press briefing ahead of the release of the IMF's World Economic Outlook (WEO) report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Supply-chain disruptions and rising geopolitical tensions have brought the risks and potential benefits and costs of geoeconomic fragmentation to the center of the policy debate, IMF wrote on its website.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The overall picture painted by the WEO is a gloomy one, with global growth forecast to slow in both the short and medium terms, says AFP.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Close to 90 percent of advanced economies will experience slowing growth this year, while Asia's emerging markets are expected to see a substantial rise in economic output -- with India and China predicted to account for half of all growth, IMF managing director Kristalina Georgieva said last week.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Low-income countries, meanwhile, are expected to suffer a double shock from higher borrowing costs due to high interest rates, and a decline in demand for their exports, Georgieva said. This could worsen poverty and hunger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Global headline inflation in the baseline is set to fall from 8.7 percent in 2022 to 7.0 percent in 2023 on the back of lower commodity prices but underlying (core) inflation is likely to decline more slowly, added the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">This figure remains significantly above the two-percent target set by the US Federal Reserve and other central banks around the world, suggesting monetary policymakers have a long way to go before inflation is brought back under control, according to AFP.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to the forecast, public debt as a ratio to GDP soared across the world during COVID-19 and is expected to remain elevated.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The IMF's baseline forecasts assume that the financial instability sparked by the collapse of Silicon Valley Bank last month has been broadly contained by the "forceful actions" of regulators on both sides of the Atlantic, Gourinchas told reporters.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Furthermore, the IMF forecasts that global growth will fall to three percent in 2028, its lowest medium-term forecast since the 1990s.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17264', 'image' => '20230412085500_20230411110137_2016_09_19_12250_1474286456._large.jpg', 'article_date' => '2023-04-12 08:53:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17528', 'article_category_id' => '218', 'title' => 'Nepali Banks Are Safe and Sound, Says Governor Adhikari ', 'sub_title' => '', 'summary' => 'April 12: The Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, said that the condition of Nepal's banks and financial institutions is safe and sound at present. ', 'content' => '<p><span style="font-size:20px">April 12: The Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, said that the condition of Nepal's banks and financial institutions is safe and sound at present. </span></p> <p><span style="font-size:20px">In a press meet organized by the NRB to release the current macroeconomic and financial situation of Nepal based on eight months' data of the current fiscal year on Tuesday, Governor Adhikari said that the positive changes seen in the economic indicators at present have signaled the safe and sound status of banks and financial institutions. </span></p> <p><span style="font-size:20px">On the occasion, the Governor said that the issue of liquidity crunch will not continue in the banks and financial institutions for a long time, due to improvement in economic indicators owing to central bank's prudential regulations. </span></p> <p><span style="font-size:20px">"Minor shocks cannot and will not have any impact in the banking sector and overall economy as financial statistics are robust”, according to Governor Adhikari. </span></p> <p><span style="font-size:20px">Contrary to Prime Minister Pushpa Kamal Dahal and Finance Minister Dr Prakash Sharan Mahat’s assurances of lowering the interest rates, Governor Adhikari made it clear that markets will determine the banks’ interest rates. </span></p> <p><span style="font-size:20px">“Demand and supply, and state of liquidity will determine bank interest rates. Nepal Rastra Bank will not interfere with interest rates as markets will determine the rates,” <br /> Adhikari clarified. </span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17263', 'image' => '20230412061029_collage (70).jpg', 'article_date' => '2023-04-12 06:08:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17525', 'article_category_id' => '1', 'title' => 'Govt Decides to Test Level of Pesticides on Imported Goods for Consumption', 'sub_title' => '', 'summary' => 'April 11: A meeting of the Council of Ministers held on Tuesday approved a proposal received from the infrastructure committee of the Council of Ministers on testing the maximum level of pesticides in all the imported goods for consumption. ', 'content' => '<h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">April 11: A meeting of the Council of Ministers held on Tuesday approved a proposal received from the infrastructure committee of the Council of Ministers on testing the maximum level of pesticides in all the imported goods for consumption. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Emerging from the meeting, Minister for Communications and Information Technology Rekha Sharma, who is also the government's spokesperson, said that the meeting also took seriously to the statements made by the Mayor of Kathmandu Metropolitan City (KMC) on garbage collection from Sheetal Niwas, Baluwatar and Singhadurbar. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">The cabinet meeting has taken the statements made by the KMC Mayor Balendra Sah seriously and has drawn his attention to abide by the policy-level provisions on garbage collection, and take the initiatives for garbage collection, said Minister Sharma. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Furthermore, the cabinet meeting appointed Govinda Acharya as the Press Advisor to Prime Minister Pushpa Kamal Dahal, Minister Sharma said.</span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Journalist Acharya is the former Chairman of the Federation of Nepali Journalists (FNJ) as well. -- RSS</span></span></span></h4> <h4> </h4> <p> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17260', 'image' => '20230411102742_PRO_KTM-066A4669.jpg', 'article_date' => '2023-04-11 22:26:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17524', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Gorkha ', 'sub_title' => '', 'summary' => 'April 11: An earthquake with its epicenter at Baluwa of Gorkha district on Tuesday evening. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 11: An earthquake with its epicenter at Baluwa of Gorkha district on Tuesday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Centre stated that the earthquake measuring 4.1 magnitude in Richter scale took place at 6:50 on Tuesday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the quake was felt in Gorkha, Lamjung and the neighbouring districts. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17259', 'image' => '20230411102343_20230329121710_earth.jpg', 'article_date' => '2023-04-11 22:23:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17523', 'article_category_id' => '1', 'title' => 'NEPSE Gains 27.31 Points to Close at 1871.33 ', 'sub_title' => '', 'summary' => 'The NEPSE Index gained 1.48%, 27.31 points, and closed at 1871.33 on the third trading of the week on Tuesday. ', 'content' => '<p><br /> <span style="font-size:20px">April 11: The NEPSE Index gained 1.48%, 27.31 points, and closed at 1871.33 on the third trading of the week on Tuesday. </span></p> <p><span style="font-size:20px">In a program organized in Kathmandu today, Prime Minister Pushpa Kamal Dahal and Finance Minister Dr Prakash Sharan Mahat had stated that the Nepal Rastra Bank should loosen its tight monetary policy.</span></p> <p><span style="font-size:20px">The data unveiled by Nepal Rastra Bank on the current macroeconomic and financial situation of Nepal based on eight months’ data ending mid-March 2023 on Tuesday show that major indicators of the country’s economy are improving. Especially, remittances and status of balance of payment are strengthening.</span></p> <p><span style="font-size:20px">The government’s positive responses to tackle the financial crisis facing the country and Rastra Bank’s data showing economic improvement have had a positive impact on the NEPSE today, say knowledgeable people. </span></p> <p><span style="font-size:20px">A total of 262 scrips traded hands via 35,237 transactions. A total of 3,315,720 shares exchanged hands with a turnover amount of Rs 94.52 crores. This is higher than the last trading day's turnover of Rs. 91.19 Crores.</span></p> <p><span style="font-size:20px">Shivam Cements Limited SHIVM) had the highest turnover of Rs. 7.1 crores closing at a market price of Rs. 400 per share. The shares of PRVU traded the most.</span></p> <p><span style="font-size:20px">Kalinchowk Darshan Limited (KDL) gained the highest 10% and hit the positive circuit for the day. Conversely, Sanima Middle Tamor Hydropower Limited (TAMOR) lost the highest 3.54% today.</span></p> <p><span style="font-size:20px">All sub- indices closed in the green zone. "Manufacturing and Processing" gained the highest 3.28%, while "Non-Life Insurance" gained the least 0.76% today. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17258', 'image' => '20230411045134_collage - 2023-04-11T164935.581.jpg', 'article_date' => '2023-04-11 16:48:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17522', 'article_category_id' => '1', 'title' => 'Decline in Imports and Exports Results in Reduction in Trade Deficit', 'sub_title' => '', 'summary' => 'April 11: Merchandise exports of Nepal declined 29.1 percent during the eight months of FY 2022/23 to Rs 104.80 billion against an increase of 82.9 percent in the same period of the previous year, according to the Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 11: Merchandise exports of Nepal declined 29.1 percent during the eight months of FY 2022/23 to Rs 104.80 billion against an increase of 82.9 percent in the same period of the previous year, according to the Nepal Rastra Bank. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India and China decreased 37.5 percent and 4.9 percent respectively whereas exports to other countries increased 6.0 percent, states the Current Macroeconomic and Financial Situation Report published by NRB on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, exports of zinc sheet, cardamom, particle board, woolen carpets, tea, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, merchandise imports decreased 19.1 percent to Rs 1058.39 billion during the eight months of 2022/23 against an increase of 38.6 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries decreased 17.6 percent, 21.7 percent, and 21.4 percent respectively. Imports of petroleum products, chemical fertilizer, sponge iron, gold, other stationeries, among others, increased whereas imports of transport equipment and parts, medicine, MS billet, crude soybean oil, telecommunication equipment and parts, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Jaleshwar, Kailali, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan Airport customs offices increased whereas exports from all the other major customs points decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the import side, imports from all the major customs points decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, the total trade deficit decreased 17.9 percent to Rs 953.59 billion during the eight months of 2022/23. Such a deficit had increased 34.5 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio decreased to 9.9 percent in the review period from 11.3 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eight months of 2022/23, merchandise imports from India by paying convertible foreign currency amounted Rs 85.12 billion. Such amount was Rs 147.03 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17257', 'image' => '20230411043133_Trade.jpg', 'article_date' => '2023-04-11 16:30:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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Ltd Rolls Out TVS NTORQ 125 Race Edition Scooter ', 'sub_title' => '', 'summary' => 'Jagdamba Motors Pvt. Ltd., the sole authorized distributor of TVS Motor Company in Nepal, has launched a TVS NTORQ 125 Race Edition scooter in new Marine Blue colour. ', 'content' => '<p> </p> <p><span style="font-size:20px">April 13: Jagdamba Motors Pvt. Ltd., the sole authorized distributor of TVS Motor Company in Nepal, has launched a TVS NTORQ 125 Race Edition scooter in new Marine Blue colour. </span></p> <p><span style="font-size:20px">The exciting new color will be available alongside the popular Race Edition Red & Yellow color, which has been highly embraced and adored by Generation Z throughout the years.</span></p> <p><span style="font-size:20px">With colorful chequered flag race-inspired graphics, the TVS NTORQ 125 Race Edition’s new striking Marine Blue color gives a distinct style and adds complete newness to the scooter. </span></p> <p><span style="font-size:20px">The unusual three tone combination of black, metallic black and metallic blue makes the scooter indisputably different and stands out from the rest. </span></p> <p><span style="font-size:20px">Mr. Shahil Agrawal, Managing Director, Jagdamba Motors Pvt. Ltd., said that TVS NTORQ RT-Fi 125 Race Edition-Marine Blue is designed to create a best-in-class ownership experience with the inclusion of RT-Fi. “We have rolled out TVS NTORQ RT-Fi 125 Race Edition to give young customers a new experience,” said Agrawal. </span></p> <p><span style="font-size:20px">Akhil Gupta, Executive Director of Jagdamba Motors Pvt. Ltd. Said TVS NTORQ RT-Fi 125 has redefined the expectation of scooter consumers in Nepal by creating an exciting, powerful, connected experience for the Gen Z. </span></p> <p><span style="font-size:20px">TVS NTORQ 125 Race Edition is powered by a 124.8 cc, single-cylinder, 4-stroke, 3-valve, air-cooled SOHC, fuel injected engine. The Race Edition boasts of a 95 kmph top speed and accelerates from 0-60 kmph in just 9 seconds.<br /> The new TVS NTORQ 125 Race Edition in Marine Blue colour is priced at Rs 2,99,900 in Nepali market. </span></p> ', 'published' => true, 'created' => '2023-04-13', 'modified' => '2023-04-13', 'keywords' => '', 'description' => '', 'sortorder' => '17274', 'image' => '20230413062551_collage (71).jpg', 'article_date' => '2023-04-13 06:23:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '17538', 'article_category_id' => '218', 'title' => 'Himalayan Bank Launches Disability-friendly ATM at Sipnal Injury Rehabilitation Center ', 'sub_title' => '', 'summary' => 'Himalayan Bank Limited has brought a disability-friendly Automated Teller Machine (ATM) into operation on the premises of Spinal Injury Rehabilitation Center sat Kavre’s Sanga. ', 'content' => '<p><span style="font-size:20px">April 12: Himalayan Bank Limited has brought a disability-friendly Automated Teller Machine (ATM) into operation on the premises of Spinal Injury Rehabilitation Center sat Kavre’s Sanga. </span></p> <p><span style="font-size:20px">“We have brought the disability-friendly ATM into operation to ensure everyone’s access to banking facility,” said the bank. </span></p> <p><span style="font-size:20px">On the occasion of the 21st anniversary of the rehabilitation center last Friday, Banepa Municipality’s Mayor Shantiranta Shakya, Himalyan Bank’s Chairman Prachanda Bahadaur Shrestha and Rehabilitation Center’s Chairperson Dr Shanta Dixit jointly inaugurated the ATM. </span></p> <p><span style="font-size:20px">The bank has been providing services through 189 branches, 20 extended counters, and more than 262 ATMs to its customers across the country. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17273', 'image' => '20230412052815_collage - 2023-04-12T172705.972.jpg', 'article_date' => '2023-04-12 17:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '17537', 'article_category_id' => '1', 'title' => ' The NEPSE Index Records Impressive Gains of 99.22 Points; So Does Turnover Amount ', 'sub_title' => '', 'summary' => 'The decision of the banks and financial institutions to slash the interest rates on deposits has had a positive impact on the NEPSE Index today. The NEPSE Index, which had remained sluggish lately, gained an impressive 92.22 points and closed at 1963.55 today. ', 'content' => '<p><span style="font-size:20px"> April 12: The decision of the banks and financial institutions to slash the interest rates on deposits has had a positive impact on the NEPSE Index today. The NEPSE Index, which had remained sluggish lately, gained an impressive 92.22 points and closed at 1963.55 today. </span></p> <p><span style="font-size:20px">Earlier, Nepal Bankers’ Association had decided to lower the interest rates on deposits by 10%. In the light of this, the interest rates on deposits have decreased to a single digit. </span></p> <p><span style="font-size:20px">Experts say that decision to lower the interest rates had a positive effect on the NEPSE today. Interest rates and stock market have a negative relationship. When the interest rates rise, stock market declines and when the interest rate decreases the stock market goes up.</span></p> <p><span style="font-size:20px">The NEPSE Index went up by 4.95%, which is 92.22 points and closed at 1963.55. </span></p> <p><span style="font-size:20px">A total of 267 scrips traded hands via 47,285 transactions. A total of 6,107,425 shares exchanged hands amounting to Rs. 1.976 billion in turnover amount. This is more than double the last trading day's turnover of Rs. 94.52 crores.</span></p> <p><span style="font-size:20px">Commercial banks, finance companies and micro finances witnessed a massive rise. Banking, development banks, finances and microfinances increased by 5.46%, 5.74%, 6.84% and 5.11% respectively. </span></p> <p><span style="font-size:20px">Shivam Cements Limited (SHIVAM) shares traded the most and had the highest turnover of Rs. 11.71 crores closing at a market price of Rs. 413 per share.</span></p> <p><span style="font-size:20px">Seven scrips gained the highest 10% each and hit the positive circuit for the day.<br /> Conversely, Everest Bank Limited (EBLD86) lost the highest 1.99% today.</span></p> <p><span style="font-size:20px">All sector indices closed in the green zone. "Finance" gained the highest 6.84%, while "Mutual Fund" gained the least 2.87% today.</span><br /> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17272', 'image' => '20230412043608_collage - 2023-04-11T164935.581.jpg', 'article_date' => '2023-04-12 16:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17536', 'article_category_id' => '1', 'title' => 'Government Needs to Spend Rs 277 in Capital Expenditure within 3 Months', 'sub_title' => '', 'summary' => 'April 12: As the ninth month of the current fiscal year is about to end, the state of capital expenditure of the government is disappointing.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">April 12: As the ninth month of the current fiscal year is about to end, the state of capital expenditure of the government is disappointing. According to the Financial Comptroller General Office (FCGO), only Rs 102 billion have been spent on the capital budget as of April 11.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital budget allocated for the current fiscal year (FY 2022/23) is 380.38 billion. So far, about 27 percent of the budget has been spent. The progress of the capital budget expenditure in the first and second quarters was very low. Although the expenditure has increased from the third quarter, the government now needs to spend Rs 277 billion capital budget in the remaining three months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital budget expenditure in the current fiscal year is slightly higher than that in the corresponding period of last year. By mid-April last year, the government had spent Rs 98.3 billion in capital budget. In the last fiscal year, the government had allocated Rs 378 billion under the heading of capital expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">This year, the government has spent Rs 883 billion as of April 11 under all headings. This is 49.26 percent of the total budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had announced a budget of Rs 1793.83 billion for the current fiscal year, which was later downsized. Majority of the budget has been allocated for current expenditure. A total of Rs 1183.23 billion has been allocated for current expenses. Since mid-July last, the government has spent Rs 692 billion in the current expenditure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">So far, the government has spent Rs 89 billion on financial management. The target is to spend Rs 230 billion this year in the financial management. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Looking at the way the government has spent the development budget in the nine months, there is no possibility that the remaining amount will be spent in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has said that he will increase the capital expenditure by making an action plan. According to him, the government is focused on increasing capital expenditure and reducing unnecessary expenditure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In the short term, the government's focus will be on domestic spending. “We will reduce the unnecessary expenses of the common people," he said. According to Minister Mahat, the government will make service delivery of state effective by reducing the general expenses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Economist Keshav Acharya says that 100 percent of the budget cannot be spent this year as there is still a large capital budget to be spent. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17271', 'image' => '20230412031757_1681277786.jpg', 'article_date' => '2023-04-12 15:17:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17535', 'article_category_id' => '1', 'title' => 'Government Directs Health Facilities to be Prepared for Possible COVID-19 Risk ', 'sub_title' => '', 'summary' => 'April 12: The Ministry of Health and Population has instructed various health facilities to remain on standby in view of increasing cases of COVID-19 in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: The Ministry of Health and Population has instructed various health facilities to remain on standby in view of increasing cases of COVID-19 in the country. The directive came as the daily graph of fresh COVID-19 cases is going up lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cases of mutated Omicron sub-variant XBB1.16.1 of COVID -19 found in neighbouring India have been recorded lately in Nepal as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director of the Epidemiology and Disease Control Division, Dr Chuman Lal Das, the latest variant of COVID-19 is more infectious and hospitals are directed to be in ready position to respond to the possible situation ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital, Shukraraj Tropical and Infectious Disease Hospital, TU Teaching Hospital, Patan Academy of Health Sciences, Civil Service Hospital, Armed Police Force Hospital and Nepal Police Hospital are among those health facilities directed to be prepared for handling the untoward situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Wednesday, a person succumbed to COVID-19, the first death from virus in over three months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bir Hospital’s Director Dr Santosh Poudel said they have been directed to be prepared for the response to COVID-19 in view of its soaring cases lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shukraraj Tropical and Infectious Disease Hospital’s chief Dr Bimal Chalise said they are alert about the possible risk of infections and are prepared accordingly. "There is no need to panic, but we must be alert about the possible risk," he said, adding that the hospital has a patient on a ventilator and two ICU cases related to Covid-19 at the moment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Wednesday, 106 new cases of COVID-19 were reported in the country. At present, 24 infected patients are in isolation, 13 in ICU care and five on ventilator support for COVID-19. The division has said it has tightened COVID-19 check along the Nepal-India border since Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17270', 'image' => '20230412025457_health-ministry.jpg', 'article_date' => '2023-04-12 14:54:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17534', 'article_category_id' => '1', 'title' => '35 Percent Shutters Closed in Kathmandu', 'sub_title' => '', 'summary' => 'April 12: As the small businessmen living in the capital valley have fled, about 35 percent of the shutters used by them have now become empty.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">April 12: As the small businessmen living in the capital valley have fled, about 35 percent of the shutters used by them have now become empty. When businesses crumbled due to the recession, the small businessmen fled as they were unable to pay the rents and high interest rates of banks. On top o f it, the landlords increased the rents. Due to this, the shutters made for commercial purposes are being emptied rapidly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen estimate that the process of evacuating shutters and fleeing will continue to increase. Naresh Katuwal, president of the National Federation of Independent Businesses (NFIB) says that small traders are the most affected by economic slowdown.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The decline in purchasing capacity of the consumers has resulted a slump in business slump which has also been affected by the increment in rents by landlords and interest rates by the banks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Katuwal, overall business has shrunk to 30 to 40 percent compared to the normal situation. He told that most of the landlords in the valley increase the rent by 10 percent every year. Katuwal said, “Business is declining due to lack of liquidity, high rent, high interest rate of banks and increasing competition. As a result, the businessmen are forced to flee the business by emptying the shutters.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking with New Business Age, he added, “We estimate that about 35 percent of the shutters are empty now.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As a result of the recession in business, shutters have been in areas including New Road, Asan, Indrachok, Khichhapokhari, Thamel, Sundhara, Balaju, Kalanki, Chabahil, Koteshwar and Baneshwor. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessmen are paying rent ranging from Rs 50,000 to 500,000 per month for a single shutter in those areas.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The business sector, which has slowed down after the Covid-19 pandemic, has reached a situation where traders are unable to cope with the crisis due to the disruptions from all sides. Ranjit Tandukar, who is dealing in ready-made clothes, says that their business has slumped due to the decrease in consumer's income. He says that most of the people who come to the shop ask for the price of the goods and return.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">More than 15,000 businessmen of the valley are affiliated to NFIB. During the Covid-19 pandemic, when the shutters had to be closed, some landlords had waived their house rent at the initiative of the federation. At that time, Civil Mall, People's Plaza, Ranjana Trade Mall and others in New Road and the surrounding areas gave a rent discount of 1 to 7 months. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Economist Gyanendra Adhikari says that the biggest weakness of the government is that the small businessmen are unable to cope with the current crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, the government should implement separate policies for small and big businesses in the monetary policy and budget. He argues that when the government made policies and rules for businessmen who can employ thousands of human resources and also to those who employ five people, small businessmen suffered the most during the crisis. Officials say that the current situation has come because there is no investment environment due to political instability and the global economic crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">To prevent the businessmen from giving up on their businesses, the businessmen demand that the house rent should be fixed on the basis of square feet by implementing the scientific home rent rate and the interest rate of the bank which is in double digits should be reduced to a single digit.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17269', 'image' => '20230412012352_1681191833.jpg', 'article_date' => '2023-04-12 13:23:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17533', 'article_category_id' => '1', 'title' => 'Foreign Exchange Reserves Rises to Rs 1401.21 Billion: NRB ', 'sub_title' => '', 'summary' => 'April 12: Though the foreign exchange reserves have increased in the country, the current account remained at a deficit of Rs 44.31 billion in the first eight months of the current fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: Though the foreign exchange reserves have increased in the country, the current account remained at a deficit of Rs 44.31 billion in the first eight months of the current fiscal year. During the same period of the last fiscal year, the current account was in a deficit of Rs 460.72 billion. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Current Macroeconomic and Financial Situation Report of Nepal based on eight months' data published by the Nepal Rastra Bank, the gross foreign exchange reserves increased 15.2 per cent to Rs 1401.21 billion in mid-March 2023 from Rs 1215.80 billion in mid-July 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Balance of Payments (BOP) remained at a surplus of Rs 148.11 billion in the review period compared to a deficit of Rs 258.64 billion in the same period of the previous year, the central bank said. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Of the total foreign exchange reserves, reserves held by the central bank increased 17.8 per cent to Rs 1244.94 billion in mid-March 2023 from Rs 1056.39 billion in mid-July 2022. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Rastra Bank said that the reserves held by banks and financial institutions decreased 2 per cent to Rs 156.27 billion in mid-March 2023. </span></span><br /> <span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the NRB stated that the foreign exchange reserves of the banking sector is sufficient to cover the prospective imports of 10.9 months, and merchandise and services imports of 9.4 months. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17268', 'image' => '20230412100646_20230411103324_20220406032048_NRBnew.jpg', 'article_date' => '2023-04-12 10:05:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17532', 'article_category_id' => '1', 'title' => 'No Environment for Investment Despite Availability of Fund: Golyan ', 'sub_title' => '', 'summary' => 'April 12: Chairperson of the Confederation of Banks and Financial Institutions Nepal (CBFIN) Pawan Kumar Golyan insists that there is no investment-friendly environment in the country despite availability of liquidity in banks and financial institutions. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 12: Chairperson of the Confederation of Banks and Financial Institutions Nepal (CBFIN) Pawan Kumar Golyan insists that there is no investment-friendly environment in the country despite availability of liquidity in banks and financial institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a press conference organized by CBFIN in Lalitpur on Tuesday, Chairperson Golyan said the financial institutions were afraid of flowing new investment despite having adequate deposits in banks. </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"">"Banks and financial institutions' staff are not assured that loan invested in different sectors would be paid back," said Golyan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the media to raise the issue that it is inappropriate to create an environment for not repaying loan in an organized manner. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The interest rate charged for productive sector should be lower than the interest rates for unproductive sector," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The high interest rate was to check flight of money for purchasing luxurious goods. But, the banks and financial institutions received huge amount of deposit due to higher interest rates. On the other hand, entrepreneurs are not in a position to bear the existing interest rates. Therefore, interest rates should be lowered," he noted. </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"">On the occasion, Golyan said the interest rates should be lowered effective from mid-April since the entrepreneurs are not being able to pay back the interest rates of the loan.</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"">According to Golyan, banks have invested Rs 200 billion in small hydropower based energy sector.</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"">CBFIN secretary Pushpa Sharan Mallik said the banks and financial institutions should discourage fixed deposit below one year so as to reduce interest rates. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17267', 'image' => '20230412094113_pawan.jpg', 'article_date' => '2023-04-12 09:40:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17531', 'article_category_id' => '1', 'title' => 'Voting to Elect New Executive Committee of FNCCI Begins', 'sub_title' => '', 'summary' => 'April 12: Voting for the election of a new executive committee of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the largest umbrella organization of industrialists in the country, has started from 8 am this morning.', '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"">April 12: Voting for the election of a new executive committee of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the largest umbrella organization of industrialists in the country, has started from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">am this morning.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the election schedule, voting will be held at the Nepal Academy Hall in Kamaladi, Kathmandu till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> pm.</span></span></span></span></p> <p><span style="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 ongoing 57<sup>th</sup> Annual General Meeting of FNCCI will elect one senior vice president, three vice presidents and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">59</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">executive committee members. On the other hand, four members of the executive committee have been elected unanimously.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of FNCCI, the term of the current president Shekhar Golchha will continue until the AGM concludes, while Chandra Prasad Dhakal, who is currently the senior vice president, will automatically become the president of the federation from April 13.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Three people are competing for the position of senior vice president to lead the federation in the next term. Those in the fray for the coveted post are former FNCCI vice-president Umesh Lal Shrestha, and incumbent vice-presidents Ram Chandra Sanghai and Anjan Shrestha.</span></span></span></span></p> <p><span style="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 election of the senior vice-president of the federation is being watched with much interest due to the provision that the senior vice president will automatically become the president in the next term.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This is the first time that three candidates are contesting for the post of senior vice-president.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the statute of the FNCCI, a candidate must receive 51 percent of the total votes to be elected as the senior vice president. If no candidate gets 51 percent of the votes in the first round of voting, a second round of voting will be held. According to the federation, only the two candidates who get the most votes will compete in the second round.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17265', 'image' => '20230412092110_PRO_KTM-6F8A4345.jpg', 'article_date' => '2023-04-12 09:16:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17529', 'article_category_id' => '1', 'title' => 'IMF Lowers 2023 Global Growth Forecast to 2.8 Percent', 'sub_title' => 'IMF Warns of Half-Decade of Low Growth', 'summary' => 'April 12: The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">April 12: The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to the AFP, the IMF predicted the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its previous forecasts in January.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">“The baseline forecast is for growth to fall from 3.4 percent in 2022 to 2.8 percent in 2023, before settling at 3.0 percent in 2024,” reads the IMF's World Economic Outlook (WEO) report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Advanced economies are expected to see an especially pronounced growth slowdown, from 2.7 percent in 2022 to 1.3 percent in 2023.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"The global economy is recovering from the shocks of the last few years, and particularly of course the pandemic, but also the Russian invasion of Ukraine," IMF chief economist Pierre-Olivier Gourinchas said in a press briefing ahead of the release of the IMF's World Economic Outlook (WEO) report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Supply-chain disruptions and rising geopolitical tensions have brought the risks and potential benefits and costs of geoeconomic fragmentation to the center of the policy debate, IMF wrote on its website.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The overall picture painted by the WEO is a gloomy one, with global growth forecast to slow in both the short and medium terms, says AFP.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Close to 90 percent of advanced economies will experience slowing growth this year, while Asia's emerging markets are expected to see a substantial rise in economic output -- with India and China predicted to account for half of all growth, IMF managing director Kristalina Georgieva said last week.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Low-income countries, meanwhile, are expected to suffer a double shock from higher borrowing costs due to high interest rates, and a decline in demand for their exports, Georgieva said. This could worsen poverty and hunger.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Global headline inflation in the baseline is set to fall from 8.7 percent in 2022 to 7.0 percent in 2023 on the back of lower commodity prices but underlying (core) inflation is likely to decline more slowly, added the report.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">This figure remains significantly above the two-percent target set by the US Federal Reserve and other central banks around the world, suggesting monetary policymakers have a long way to go before inflation is brought back under control, according to AFP.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to the forecast, public debt as a ratio to GDP soared across the world during COVID-19 and is expected to remain elevated.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The IMF's baseline forecasts assume that the financial instability sparked by the collapse of Silicon Valley Bank last month has been broadly contained by the "forceful actions" of regulators on both sides of the Atlantic, Gourinchas told reporters.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Furthermore, the IMF forecasts that global growth will fall to three percent in 2028, its lowest medium-term forecast since the 1990s.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17264', 'image' => '20230412085500_20230411110137_2016_09_19_12250_1474286456._large.jpg', 'article_date' => '2023-04-12 08:53:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17528', 'article_category_id' => '218', 'title' => 'Nepali Banks Are Safe and Sound, Says Governor Adhikari ', 'sub_title' => '', 'summary' => 'April 12: The Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, said that the condition of Nepal's banks and financial institutions is safe and sound at present. ', 'content' => '<p><span style="font-size:20px">April 12: The Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, said that the condition of Nepal's banks and financial institutions is safe and sound at present. </span></p> <p><span style="font-size:20px">In a press meet organized by the NRB to release the current macroeconomic and financial situation of Nepal based on eight months' data of the current fiscal year on Tuesday, Governor Adhikari said that the positive changes seen in the economic indicators at present have signaled the safe and sound status of banks and financial institutions. </span></p> <p><span style="font-size:20px">On the occasion, the Governor said that the issue of liquidity crunch will not continue in the banks and financial institutions for a long time, due to improvement in economic indicators owing to central bank's prudential regulations. </span></p> <p><span style="font-size:20px">"Minor shocks cannot and will not have any impact in the banking sector and overall economy as financial statistics are robust”, according to Governor Adhikari. </span></p> <p><span style="font-size:20px">Contrary to Prime Minister Pushpa Kamal Dahal and Finance Minister Dr Prakash Sharan Mahat’s assurances of lowering the interest rates, Governor Adhikari made it clear that markets will determine the banks’ interest rates. </span></p> <p><span style="font-size:20px">“Demand and supply, and state of liquidity will determine bank interest rates. Nepal Rastra Bank will not interfere with interest rates as markets will determine the rates,” <br /> Adhikari clarified. </span></p> ', 'published' => true, 'created' => '2023-04-12', 'modified' => '2023-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '17263', 'image' => '20230412061029_collage (70).jpg', 'article_date' => '2023-04-12 06:08:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17525', 'article_category_id' => '1', 'title' => 'Govt Decides to Test Level of Pesticides on Imported Goods for Consumption', 'sub_title' => '', 'summary' => 'April 11: A meeting of the Council of Ministers held on Tuesday approved a proposal received from the infrastructure committee of the Council of Ministers on testing the maximum level of pesticides in all the imported goods for consumption. ', 'content' => '<h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">April 11: A meeting of the Council of Ministers held on Tuesday approved a proposal received from the infrastructure committee of the Council of Ministers on testing the maximum level of pesticides in all the imported goods for consumption. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Emerging from the meeting, Minister for Communications and Information Technology Rekha Sharma, who is also the government's spokesperson, said that the meeting also took seriously to the statements made by the Mayor of Kathmandu Metropolitan City (KMC) on garbage collection from Sheetal Niwas, Baluwatar and Singhadurbar. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">The cabinet meeting has taken the statements made by the KMC Mayor Balendra Sah seriously and has drawn his attention to abide by the policy-level provisions on garbage collection, and take the initiatives for garbage collection, said Minister Sharma. </span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Furthermore, the cabinet meeting appointed Govinda Acharya as the Press Advisor to Prime Minister Pushpa Kamal Dahal, Minister Sharma said.</span></span></span></h4> <h4><span style="font-size:18px"><span style="font-family:Cambria,"serif""><span style="font-family:"Arial","sans-serif"">Journalist Acharya is the former Chairman of the Federation of Nepali Journalists (FNJ) as well. -- RSS</span></span></span></h4> <h4> </h4> <p> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17260', 'image' => '20230411102742_PRO_KTM-066A4669.jpg', 'article_date' => '2023-04-11 22:26:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '17524', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Gorkha ', 'sub_title' => '', 'summary' => 'April 11: An earthquake with its epicenter at Baluwa of Gorkha district on Tuesday evening. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 11: An earthquake with its epicenter at Baluwa of Gorkha district on Tuesday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Centre stated that the earthquake measuring 4.1 magnitude in Richter scale took place at 6:50 on Tuesday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said that the quake was felt in Gorkha, Lamjung and the neighbouring districts. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17259', 'image' => '20230411102343_20230329121710_earth.jpg', 'article_date' => '2023-04-11 22:23:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17523', 'article_category_id' => '1', 'title' => 'NEPSE Gains 27.31 Points to Close at 1871.33 ', 'sub_title' => '', 'summary' => 'The NEPSE Index gained 1.48%, 27.31 points, and closed at 1871.33 on the third trading of the week on Tuesday. ', 'content' => '<p><br /> <span style="font-size:20px">April 11: The NEPSE Index gained 1.48%, 27.31 points, and closed at 1871.33 on the third trading of the week on Tuesday. </span></p> <p><span style="font-size:20px">In a program organized in Kathmandu today, Prime Minister Pushpa Kamal Dahal and Finance Minister Dr Prakash Sharan Mahat had stated that the Nepal Rastra Bank should loosen its tight monetary policy.</span></p> <p><span style="font-size:20px">The data unveiled by Nepal Rastra Bank on the current macroeconomic and financial situation of Nepal based on eight months’ data ending mid-March 2023 on Tuesday show that major indicators of the country’s economy are improving. Especially, remittances and status of balance of payment are strengthening.</span></p> <p><span style="font-size:20px">The government’s positive responses to tackle the financial crisis facing the country and Rastra Bank’s data showing economic improvement have had a positive impact on the NEPSE today, say knowledgeable people. </span></p> <p><span style="font-size:20px">A total of 262 scrips traded hands via 35,237 transactions. A total of 3,315,720 shares exchanged hands with a turnover amount of Rs 94.52 crores. This is higher than the last trading day's turnover of Rs. 91.19 Crores.</span></p> <p><span style="font-size:20px">Shivam Cements Limited SHIVM) had the highest turnover of Rs. 7.1 crores closing at a market price of Rs. 400 per share. The shares of PRVU traded the most.</span></p> <p><span style="font-size:20px">Kalinchowk Darshan Limited (KDL) gained the highest 10% and hit the positive circuit for the day. Conversely, Sanima Middle Tamor Hydropower Limited (TAMOR) lost the highest 3.54% today.</span></p> <p><span style="font-size:20px">All sub- indices closed in the green zone. "Manufacturing and Processing" gained the highest 3.28%, while "Non-Life Insurance" gained the least 0.76% today. </span><br /> </p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17258', 'image' => '20230411045134_collage - 2023-04-11T164935.581.jpg', 'article_date' => '2023-04-11 16:48:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '17522', 'article_category_id' => '1', 'title' => 'Decline in Imports and Exports Results in Reduction in Trade Deficit', 'sub_title' => '', 'summary' => 'April 11: Merchandise exports of Nepal declined 29.1 percent during the eight months of FY 2022/23 to Rs 104.80 billion against an increase of 82.9 percent in the same period of the previous year, according to the Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 11: Merchandise exports of Nepal declined 29.1 percent during the eight months of FY 2022/23 to Rs 104.80 billion against an increase of 82.9 percent in the same period of the previous year, according to the Nepal Rastra Bank. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India and China decreased 37.5 percent and 4.9 percent respectively whereas exports to other countries increased 6.0 percent, states the Current Macroeconomic and Financial Situation Report published by NRB on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, exports of zinc sheet, cardamom, particle board, woolen carpets, tea, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, merchandise imports decreased 19.1 percent to Rs 1058.39 billion during the eight months of 2022/23 against an increase of 38.6 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries decreased 17.6 percent, 21.7 percent, and 21.4 percent respectively. Imports of petroleum products, chemical fertilizer, sponge iron, gold, other stationeries, among others, increased whereas imports of transport equipment and parts, medicine, MS billet, crude soybean oil, telecommunication equipment and parts, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Jaleshwar, Kailali, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan Airport customs offices increased whereas exports from all the other major customs points decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the import side, imports from all the major customs points decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, the total trade deficit decreased 17.9 percent to Rs 953.59 billion during the eight months of 2022/23. Such a deficit had increased 34.5 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio decreased to 9.9 percent in the review period from 11.3 percent in the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the eight months of 2022/23, merchandise imports from India by paying convertible foreign currency amounted Rs 85.12 billion. Such amount was Rs 147.03 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-04-11', 'modified' => '2023-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '17257', 'image' => '20230411043133_Trade.jpg', 'article_date' => '2023-04-11 16:30:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
