The Supreme Court (SC) has issued an interim order not to undertake cable car construction project or any other physical construction projects along the Sikles Annapurna Conservation Area in…
The Supreme Court (SC) has issued an interim order not to undertake cable car construction project or any other physical construction projects along the Sikles Annapurna Conservation Area in…
January 18: Nepal exported Amriso or Tiger grass (commonly known as broom grass) worth Rs 2.5 billion in the last five…
January 18: Biratnagar Metropolitan City’s Mayor Nagesh Koirala has instructed the metropolitan police to confiscate goods placed outside the shutters of the shops in the…
January 18: Prime Minister Pushpa Kamal Dahal on Tuesday expanded the Council of Ministers, inducting 12 new ministers in the…
January 18: Nepal Rastra Bank (NRB) has revised the Unified Directives to Infrastructure Development Banks, 2078 BS making it mandatory for infrastructure development banks to enter the details of their daily liquidity situation and inter-bank transactions in the Supervisory Information System (SIS) of…
January 18: China's Vice Premier Liu He has warned about the impact of "spillover effects" of Western interest rate hikes on emerging…
Sanima Middle Tamor Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Taplejung district and Nepali citizens working in foreign countries from…
January 17: The Himalaya Airlines has resumed its direct scheduled flights from Kathmandu to Beijing, the capital of the People's Republic of China from January 17.…
Nepal Insurance Authority has given its green light to a merger agreement signed by Ajod Insurance Limited and United Insurance…
January 17: The general public’s attraction towards electric vehicles (EVs) has increased in Nepal.…
January 17: The interest rate of home loans provided by commercial banks to the general public for building and buying houses has reached more than 9 percent per…
January 17: The United Nations (UN) has warned that an impending global economic slowdown will force more workers into accepting lower quality, poorly-paid jobs which lack job security and social protection in…
January 17: The Hotel Association Pokhara has urged the concerned stakeholders to ensure safety, reliability and smooth management of air service in the…
January 17: The Civil Aviation Authority of Nepal (CAAN) has undertaken technical tests of all ATR aircraft being used for domestic flights in Nepal after mounting public concerns following the Yeti Airlines plane crash in Pokhara on…
Trekking Agencies’ Association of Nepal (TAAN) said the Yeti Airlines plane crash in Pokhara, the country’s tourist town on Sunday had dealt a powerful blow to Nepal’s aviation and tourism…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]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' => '16775', 'article_category_id' => '1', 'title' => 'SC Issues Interim Order to Halt Cable Car Construction Project in Sikles', 'sub_title' => '', 'summary' => 'The Supreme Court (SC) has issued an interim order not to undertake cable car construction project or any other physical construction projects along the Sikles Annapurna Conservation Area in Kaski. ', 'content' => '<p><br /> <span style="font-size:18px">January 18: The Supreme Court (SC) has issued an interim order not to undertake cable car construction project or any other physical construction projects along the Sikles Annapurna Conservation Area in Kaski. </span></p> <p><span style="font-size:18px">A single bench of justice Til Prasad Shrestha issued the order to this effect, stating the matter required to be finalized only after discussing with both parties due to its gravity and sensitivity. </span></p> <p><span style="font-size:18px">In response to a writ petition filed by advocate Padam Bahadur Shrestha, the order was issued in accordance with the Supreme Court Regulations, 2074.</span></p> <p><span style="font-size:18px"> The writ petition has made the Office of the Prime Minister and Council of Ministers, and the Ministry of Forest and Environment the defendants.</span></p> <p><span style="font-size:18px">The writ petition is seeking the Apex Court to annul the government decision to endorse project’s environmental impact assessment report and other government decisions and documents in this regard through the issuance of mandamus. </span></p> <p><span style="font-size:18px">Sikles Annapurna Cable Car Pvt Ltd is planning to build a cable car system in Sikles of Madi Rural Municipality, Kaski. The Sikles Cable car project will cover a distance of 6.5 kilometers. The project is estimated to cost Rs 7 billion. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16516', 'image' => '20230118052755_collage (65).jpg', 'article_date' => '2023-01-18 17:24:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '16773', 'article_category_id' => '1', 'title' => 'Nepal Exports Broom Grass worth Rs 2.5 Billion in 5 Years', 'sub_title' => '', 'summary' => 'January 18: Nepal exported Amriso or Tiger grass (commonly known as broom grass) worth Rs 2.5 billion in the last five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 18: Nepal exported Amriso or Tiger grass (commonly known as broom grass) worth Rs 2.5 billion in the last five years. According to the data of the Department of Customs, broom grass, which is mainly used to make brooms, is exported from Nepal to various Asian countries including India and Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first five months of the current fiscal year, Nepal exported more than 4,265,000 kilograms of broom grass worth Rs 213 million, which is 10 percent more compared to the same period of last year. Last year, Nepal exported more than 3,892,000 kilograms of broom grass worth Rs 192 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Where is broom grass cultivated in Nepal?</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is mostly found in central and eastern parts of Nepal. It is also one of the main sources of income for farmers in Taplejung, Ilam, Panchthar, Tehrathum, Dhankuta and other districts. Razia Banu, who is involved in the business of broom grass, told New Business Age that the grass is exported to India and Bangladesh in addition to various cities within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the price of one kg of broom grass ranges from Rs 150 to Rs 200, which can make up to two brooms. She said that the ready-made brooms are sold between Rs 100 and Rs 120.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Banu, 90 percent of broom grass produced in Nepal is exported to India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is cultivated by many people to prevent landslides. As it provides good income along with the prevention of landslides, farmers are cultivating broom grass on the banks of rivers where there is no scope for other crops.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is used in making paper, and the dust is used in biogas. Banu said that the local government has been encouraging the commercial farming of broom grass lately. Speaking from her experience, Banu said broom grass does not need application of fertilizers time and again after putting it once. The same plant will produce for 15 to 20 years and it does not need much care and maintenance.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16514', 'image' => '20230118030543_broom grass.jpg', 'article_date' => '2023-01-18 15:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16772', 'article_category_id' => '1', 'title' => 'Biratnagar Mayor Tells City Police to Confiscate Goods Kept Outside Shutters', 'sub_title' => '', 'summary' => 'January 18: Biratnagar Metropolitan City’s Mayor Nagesh Koirala has instructed the metropolitan police to confiscate goods placed outside the shutters of the shops in the city.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 18: Biratnagar Metropolitan City’s Mayor Nagesh Koirala has instructed the metropolitan police to confiscate goods placed outside the shutters of the shops in the city. The metropolis, which has initiated a campaign to make Biratnagar clean, beautiful and orderly, has intensified the works of cleaning the city and managing traffic and parking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A team led by Mayor Koirala conducted an on-site monitoring of the condition of parking areas and footpaths on January 16. During the monitoring, the team found that goods were kept outside the shutters of the shops. Koirala has instructed the metropolitan police to take goods kept outside the shutters under control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The city has repeatedly published public notices and asked people not to keep things outside the shutters," he said, adding, “You can't complain about that.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> He also urged everyone to help the metropolis because it is the responsibility of all the citizens of Biratnagar to organize it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Mayor Koirala along with Deputy Mayor Shilpa Nirala Karki, Transport Management Committee Coordinator Tirthendra Neupane, head of the Revenue Division Saroj Gautam, Metropolitan Police Chief Rajan Paudel, District Traffic Police Office Morang’s Chief Raj Kumar Karki and other officials were involved in the monitoring.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first phase, the metropolis has already declared a no-parking zone from Jaljalachowk to Koshi Hospital Chowk. The parking management of that area is done in front of Jaljala Hall. The team also inspected the parking lot under construction at Mahaveer Road North and Old Gudri. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16513', 'image' => '20230118021031_101658636_2655100374726359_4593699279507292160_n.jpg', 'article_date' => '2023-01-18 14:09:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16771', 'article_category_id' => '1', 'title' => 'PM Dahal Expands Cabinet', 'sub_title' => '', 'summary' => 'January 18: Prime Minister Pushpa Kamal Dahal on Tuesday expanded the Council of Ministers, inducting 12 new ministers in the cabinet.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 18: Prime Minister Pushpa Kamal Dahal on Tuesday expanded the Council of Ministers, inducting 12 new ministers in the cabinet. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dahal also inducted three state ministers from the parties that backed him as the prime minister. However, Janata Samajbadi Party and Nagarik Unmukti Party, which supported Dahal’s bid to become the prime minister, opted to stay out of the government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Council of Ministers now has 23 ministers, including four deputy prime ministers (DPM) and three state ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The newly-appointed DPMs, ministers and state ministers are from </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (Maoist Centre), CPN-UML, Rastriya Prajatantra Party, Rastriya Swatantra Party and Janamat Party.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">President Bidhya Devi Bhandari administered the oath of office and secrecy to the cabinet ministers amid a function at Shital Niwas on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The prime minister has kept two ministerial portfolios including the Ministry of Youth and Sports and the Ministry of Forest and Environment with himself in order to hand over those ministries to other coalition partners. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The cabinet has eight ministers from UML, six from Maoist Centre, four each from RSP and RPP and one from Janamat Party.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the constitution, the cabinet cannot have more than 25 ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">The members of the Council of Ministers is as follows:</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Puspa Kamal Dahal: PM, Minister for Forests and Environment and Minister for Youth and Sports</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bishnu Paudel: DPM and Minister for Finance</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Narayan Kaji Shrestha: DPM and Minister for Physical Infrastructure and Transport</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rabi Lamichhane: DPM and Minister for Home Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rajendra Lingden: DPM and Minister for Energy, Water Resources and Irrigation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rekha sharma: Minister for Communications and Information Technology</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bikram Pandey: Minister for Urban Development</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Jwala Kumari Shah: Minister for Agriculture and Livestock Development</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Damodar Bhandari: Minister for Industry, Commerce and Supplies</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rajendra Rai: Minister for Land Management, Cooperatives and Poverty Alleviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Abdul Khan: Minister for Water Supply</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Bimala Rai Paudyal: Minister for Foreign Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Padam Giri: Minister for Health and Population</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bhagawati Chaudhari: Minister for Women, Children and Senior Citizens</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Hari Prasad Upreti: Minister for Defence</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sudan Kirati: Minister for Culture, Tourism and Civil Aviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Aman lal Modi: Minister for Federal Affairs and General Administration</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shishir Khanal: Minister for Education, Science and Technology</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dol Prasad Aryal: Minister for Labor, Employment and Social Security</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dhruba Pradhan: Minister for Law, Justice and Parliamentary Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sushila Sirpali Thakuri: State Minister for Culture, Tourism and Civil Aviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Toshima Karki: State Minister for Health and Population</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Deepak Singh: State Minister for Energy, Water Resources and Irrigation</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Re</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16512', 'image' => '20230118122436_PRO_KTM-6F8A0052.jpg', 'article_date' => '2023-01-18 12:23:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16770', 'article_category_id' => '1', 'title' => 'NRB Tells Infrastructure Development Banks to Submit Details on SIS Portal ', 'sub_title' => '', 'summary' => 'January 18: Nepal Rastra Bank (NRB) has revised the Unified Directives to Infrastructure Development Banks, 2078 BS making it mandatory for infrastructure development banks to enter the details of their daily liquidity situation and inter-bank transactions in the Supervisory Information System (SIS) of NRB. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 18: Nepal Rastra Bank (NRB) has revised the Unified Directives to Infrastructure Development Banks, 2078 BS making it mandatory for infrastructure development banks to enter the details of their daily liquidity situation and inter-bank transactions in the Supervisory Information System (SIS) of NRB. </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"">Issuing a circular on Tuesday, the central bank instructed the authorized infrastructure banks to follow the new rules issued in line with Section 79 of the Nepal Rastra Bank Act, 2058.</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 banks must now submit the liquidity statement through the SIS by 12 noon of the next working day and the statement of inter-bank transactions upon completion of the transaction. NRB has also instructed such banks to enter the details of the returns and ad hoc data in the system within June 16 later this year.</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 infrastructure development banks must also submit the details of interest rates of deposits and loans through the same system within seven days of amendment of the interest rates. </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"">As per the new provisions, the licensed infrastructure development banks will also have to update the details including primary information, details of committee, ownership details, subsidiary/associates details, details of board of directors, details of auditors name, details of management team name, details of chief executive officer (CEO) name, details of compliance and reporting officer name, annual general meeting report and resolution and policies and procedures within seven days of change.</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"">Nepal Infrastructure Development Bank is the one and only infrastructure development bank in the country so far.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16511', 'image' => '20230118115453_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-01-18 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16769', 'article_category_id' => '1', 'title' => 'China Warns of 'Spillover' from Western Rate Hikes', 'sub_title' => '', 'summary' => 'January 18: China's Vice Premier Liu He has warned about the impact of "spillover effects" of Western interest rate hikes on emerging economies.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 18: China's Vice Premier Liu He has warned about the impact of "spillover effects" of Western interest rate hikes on emerging economies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, Liu drew the attention of world leaders during the World Economic Forum in Davos, Switzerland on Tuesday about the spillover effects of major countries' rate hikes on emerging market and developing countries so as not to add to more debt or financial risks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The news agency added that the US Federal Reserve has hiked its benchmark lending rate at a pace unheard of since the 1980s over the last year to tame soaring inflation, while the European Central Bank has also raised borrowing costs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US moves have strengthened the value of the dollar, raising the cost of borrowing for countries with debt priced in greenbacks. They also encourage capital flight from emerging countries and dampen economic growth there, AFP added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Liu also called for an end "to Cold War mentality" as he spoke in favour of more global cooperation amid soaring tensions between Washington and Beijing over economic policy as well as Taiwan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We need to uphold the right principles and uphold the effective international economic order. We have to abandon the Cold War mentality," AFP quoted him as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China's export-oriented economy is seen as being particularly threatened by changes to the global trading system, with the United States in particular looking to shore up its domestic industry and limit trade with Beijing in key strategic sectors, according to AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The concerns raised by the Chinese vice premier is also relevant in the context of Nepal as the country is forced to pay an additional amount of public debt of Rs 5.52 billion in the first quarter of the current fiscal year because of the change in foreign exchange rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accumulated public debt of the Government of Nepal stands at Rs 2007.84 billion in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a report published by the Public Debt Management Office of the Government of Nepal, the country’s outstanding foreign debt in the first quarter of the current fiscal year is Rs 1050.23 billion while the internal debt is Rs 957.61 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Comparing this figure with the data of mid-July, the country’s external debt has increased by Rs 24.38 billion while the internal debt has declined by Rs 29.83 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s Gross Domestic Product (GDP) at present is Rs 4851.62 billion. Compared to the GDP, Nepal’s public debt stands at 41.38 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16510', 'image' => '20230118105740_Untitled.jpg', 'article_date' => '2023-01-18 10:56:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16768', 'article_category_id' => '1', 'title' => 'Sanima Middle Tamor Hydropower Limited Opens IPO to Project-affected Locals and Migrant Workers ', 'sub_title' => '', 'summary' => 'Sanima Middle Tamor Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Taplejung district and Nepali citizens working in foreign countries from Wednesday. ', 'content' => '<p><span style="font-size:18px">January 18: Sanima Middle Tamor Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Taplejung district and Nepali citizens working in foreign countries from Wednesday. </span></p> <p><span style="font-size:18px">Out of the total issued capital of Rs 3,33,25,00000, the hydropower is issuing 10 per cent share of the share, i.e. 33,32,500 units of shares to the project-affected locals of Taplejung district at the face value of Rs 100 per unit of share. </span></p> <p><span style="font-size:18px">Of the total units of shares issued to the locals, as many as 13,33,000 units of shares are being issued to highly-affected residents of wards no 1,2,9 and 10 of Fungling Municipality, ward no 1 of Faktanlung Rural Municipality, wards no 1 and 2 of Bhikwakhola Rural Municipality, ward no 5 of Triveni Rural Municipality and ward no 1 of Maiwa Khola Rural Municipality. </span></p> <p><span style="font-size:18px">Remaining 19, 99,500 units of shares are being issued to locals of Taplejung district.</span></p> <p><span style="font-size:18px">The company is issuing as many as 4,99,875 units of shares, which is 10 per cent of the total 49,98,750 units of shares worth Rs 49,98,75000 separated for the general public, to the Nepali citizens working in foreign countries with labour permission received from the Labour Department in Nepal. </span></p> <p><span style="font-size:18px">One can apply for a minimum of 10 shares, while the maximum unit of shares they can purchase is 20,000 at a face value of Rs 100. </span></p> <p><span style="font-size:18px">The closing date of the IPO is February 1, 2023 for both migrant workers and project-affected locals of Taplejung. If the IPO goes under-subscribed issued for the locals, the deadline will be extended until February 16 , 2023. <br /> </span></p> <p><span style="font-size:18px">Migrant workers can apply for the IPO through Mero Share, while project-affected locals can visit company’s office at Dhumbarahi, Kathmandu, project site in Taplejung, and branch offices of Sanima Bank, Global IMe Bank, Laxmi Bank, and Sunrise Bank in Taplejung to apply for the IPO.</span></p> <p><span style="font-size:18px">Sanima Middle Tamor Hydropower Company is constructing Middle Tamor Tamor Hydro Power Project of 73 megawatt in Taplejung. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16509', 'image' => '20230118061907_collage (64).jpg', 'article_date' => '2023-01-18 06:12:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '16767', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Resumes Kathmandu-Beijing Flights', 'sub_title' => '', 'summary' => 'January 17: The Himalaya Airlines has resumed its direct scheduled flights from Kathmandu to Beijing, the capital of the People's Republic of China from January 17. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Himalaya Airlines has resumed its direct scheduled flights from Kathmandu to Beijing, the capital of the People's Republic of China from January 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Premnath Thakur, general manager of TIA, shared that the flight, first since the suspension of flights during COVID-19 pandemic in 2020, departed from the Tribhuvan International Airport at 10:41 am and landed at Beijing’s Daxing International Airport. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flight to China resumed after the northern neighbour withdrew travel restrictions on January 8 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many international airlines have begun operating flights to the Chinese capital city after a hiatus of nearly two years. The Himalayan Airlines, a Nepal-China joint venture company, is one among them, the airlines said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China also recently announced a new 144-hour visa-free transit policy which allows travelers to enjoy up to six days of stay in designated territories of China such as Beijing, Tianjin and Hebei. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Against this backdrop, the airlines will be operating one flight week to and from Beijing’s Daxing International Airport, the newest international airport in Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China had put a halt on all international flights on its soil since March 1, 2020 after the outbreak of the COVID-19 pandemic. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-02-17', 'keywords' => '', 'description' => '', 'sortorder' => '16508', 'image' => '20230119051928_Himalaya Airlines 2.jpg', 'article_date' => '2023-01-17 20:10:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16766', 'article_category_id' => '222', 'title' => 'Nepal Insurance Authority gives nod to merger agreement of United and Ajod Insurance ', 'sub_title' => '', 'summary' => 'Nepal Insurance Authority has given its green light to a merger agreement signed by Ajod Insurance Limited and United Insurance Limited. ', 'content' => '<p><br /> <br /> <span style="font-size:20px">January 17: Nepal Insurance Authority has given its green light to a merger agreement signed by Ajod Insurance Limited and United Insurance Limited. </span></p> <p><span style="font-size:20px">Issuing a letter on January 13, insurance authority has given its nod to the two insurance companies to go into a merger. </span></p> <p><span style="font-size:20px">United Insurance Limited and Ajod Insurance Limited had signed the merger agreement on January 10. Both entities have agreed to prepare swap ration based on the Due Diligence (DDA) report. </span></p> <p><span style="font-size:20px">Earlier, Ajod Insurance and Prabhu Insurance had inked a memorandum of understanding (MoU) for a merger. However, the merger process was aborted after they could not agree on the name of the merged entity and swap ratio. </span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16507', 'image' => '20230117053612_collage (63).jpg', 'article_date' => '2023-01-17 17:32:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '16765', 'article_category_id' => '1', 'title' => 'Sales of EVs Increasing in Nepal', 'sub_title' => '', 'summary' => 'January 17: The general public’s attraction towards electric vehicles (EVs) has increased in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 17: The general public’s attraction towards electric vehicles (EVs) has increased in Nepal. The sales ratio of EV and petroleum vehicles was 50/50 between April 2021 to December 2022, shares Ajit Narayan Singh, sales manager of Tata Motors. He claimed that 80 per cent of the sold EVs were Tata Motors vehicles.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The turnover of the automobile sector has dropped significantly due to the import ban, the economic situation of the country, the liquidity crisis and the policy adopted by the Nepal Rastra Bank. According to Singh, the sales of all vehicles have decreased by 70 per cent compared to the previous fiscal years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Singh said that although the total volume of vehicle sales has decreased, the sales of EVs have increased by 50 per cent. He credited the government for the increase in sales of EV. He added, “After the government reduced the tax in July 2021, the EV sector was boomed. Soon after, the sales volume increased and the market situation improved. If there was no problem with liquidity, the situation would have been different.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Singh, his customers say that EVs are cheaper to buy and more comfortable to drive than petrol/diesel vehicles. He added that in a survey conducted by the company, customers said that they would not buy cars run by fossil fuel anymore. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Both men and women had the same reaction," said Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">EV users claim that its maintenance costs are three times cheaper than that of the internal combustion engine (ICE) vehicles. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Running vehicles on fuel costs an average of Rs 14 per kilometer but an EV travels 200 kilometres for just Rs 300. That means the cost of covering one kilometer is Rs 1.5.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Singh said that if the government has a positive attitude towards this sector, 50 to 60 per cent of the total sales of four-wheelers will be that of EVs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal is importing petroleum products in large quantities. A large amount of foreign currency is being spent on this. On the other hand, there is a situation where the electricity produced in Nepal is not consumed during the rainy season and is wasted.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He said that the government should further promote EVs to increase the internal consumption of electricity as the production is projected to rise in the near future.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">For this, he said, the government should provide subsidies for EVs, subsidies for houses, subsidies for charging stations, and free parking for EVs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The price of EVs is expensive in the international market. However, experts said that with the development of technology, its price may drop drastically.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A few months ago, the Nepal government banned the import of luxury items including ICE cars for private use. Now the ban has been lifted. Although the import of vehicles has been opened, the sale of the automobile sector has not improved.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16506', 'image' => '20230117053450_electric-car.jpg', 'article_date' => '2023-01-17 17:34:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16764', 'article_category_id' => '1', 'title' => 'Interest on Home Loans of Commercial Banks Climbs above 9 Percent', 'sub_title' => '', 'summary' => 'January 17: The interest rate of home loans provided by commercial banks to the general public for building and buying houses has reached more than 9 percent per annum.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 17: The interest rate of home loans provided by commercial banks to the general public for building and buying houses has reached more than 9 percent per annum. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The banks had increased the interest rate to collect deposits amid liquidity crisis which resulted in an increase in base rate and the interest on loans.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The interest rate published by commercial banks from mid-January to mid-February shows that the annual interest on home loan has been maintained between 9 to 15.50 percent. Nepal Bank Limited is the one that offers the cheapest interest rate on home loans. Banks set the interest rate by adding a premium to the base rate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB, the banks have been publishing the interest rates that are fixed and subject to change on the basis of the base rate for various schemes. Under the fixed interest rate plan, the same interest rate is maintained throughout the loan period. In the interest rate taken on the basis of the base rate, the interest rate increases every quarter when the base rate increases and decreases when it decreases. The premium that banks add to the base rate is fixed at the time of loan approval and cannot be changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Agriculture Development Bank Limited has been providing home loans at a minimum fixed interest rate of 8.95 percent. Similarly, Laxmi Bank and NIC Asia Bank have set the highest interest rate of up to 15.99 percent under the fixed interest rate for home loan scheme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Most of the banks have said that a premium of up to 6 percent will be added to the loan plans that change based on the base rate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Out of the 22 commercial banks that are currently operating, 15 have announced a premium of up to 6 percent for home loans. Nepal Bank is giving home loan at the lowest minimum premium of 1 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB regarding interest rates, banks should publish the interest rate applicable every month on the last day of the previous month. Banks should mention both variable and fixed interest rates on loans of periodic nature while publishing interest rates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a fixed interest rate scheme, the banks cannot change the interest rate fixed throughout the loan period. However, on the basis of a written agreement with the customer, there is a provision to change the interest rate for the first time in 7 years of loan disbursement and thereafter every 5 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, in the variable interest rate loan plan, there is a provision for banks and financial institutions to set the base rate by adding 0.75 percent profit to the cost of their capital and to determine the interest rate by adding a certain percentage premium to it. Every quarter, when the average base rate of the bank decreases, the interest rate on loan automatically decreases and when it increases, the premium rate cannot be changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the directive, the banks should clearly mention the premium rate to be added to the base rate in the 'offer letter' of the loan given to the borrower. For such premium loans, there is a provision that the premium rate cannot be set higher than the published premium rate at the time of receiving the application. There is a provision that banks should publish the premium rate for loans along with the interest rate on deposits for the next month at the end of every month.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16505', 'image' => '20230117023053_Real estate.jpg', 'article_date' => '2023-01-17 14:30:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16763', 'article_category_id' => '1', 'title' => 'Global Economic Slowdown will Force Workers into Poorly-Paid Jobs in 2023: ILO', 'sub_title' => '', 'summary' => 'January 17: The United Nations (UN) has warned that an impending global economic slowdown will force more workers into accepting lower quality, poorly-paid jobs which lack job security and social protection in 2023', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 17: The United Nations (UN) has warned that an impending global economic slowdown will force more workers into accepting lower quality, poorly-paid jobs which lack job security and social protection in 2023, while inflation gobbles up real-term wages.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The cost-of-living crisis due to sharp rise in prices compared to incomes will risk pushing more people into poverty, the UN's International Labour Organization (ILO) warned on Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the ILO, unemployment around the world is set to rise this year accentuating inequalities exacerbated by the COVID-19 crisis.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ILO said deficits in decent work had been worsened by multiple overlapping crises, including Russia-Ukraine war, emerging geopolitical tensions, an uneven recovery from the Covid-19 pandemic and continuing supply chain bottlenecks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ILO’s World Employment and Social Outlook: Trends 2023, also projects that global employment growth will be only 1.0 per cent in 2023, less than half the level in 2022. Global unemployment is slated to rise slightly in 2023, by around 3 million, to 208 million (corresponding to a global unemployment rate of 5.8 per cent). The moderate size of this projected increase is largely due to tight labour supply in high-income countries. This would mark a reversal of the decline in global unemployment seen between 2020-2022. It means that global unemployment will remain 16 million above the pre-crisis benchmark (set in 2019).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Together, these have created the conditions for stagflation -- simultaneously high inflation and low growth -- for the first time since the 1970s," the agency said in its annual World Employment and Social Outlook report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition to unemployment “job quality remains a key concern”, the report says, adding that “decent work is fundamental to social justice”. A decade of progress in poverty reduction faltered during the COVID-19 crisis. Despite a nascent recovery during 2021, the continuing shortage of better job opportunities is likely to worsen, the study says.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The current slowdown means that many workers will have to accept lower quality jobs, often at very low pay, sometimes with insufficient hours. Furthermore, as prices rise faster than nominal labour incomes, the cost-of-living crisis risks pushing more people into poverty. This trend comes on top of significant declines in income seen during the COVID-19 crisis, which in many countries affected low-income groups worst,” states the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, ILO director general Gilbert Houngbo said the recovery from the Covid-19 pandemic was particularly patchy in low- and middle-income countries, and was further hampered by climate change and humanitarian challenges.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Projections of a slowdown in economic and employment growth in 2023 imply that most countries will fall short of a full recovery to pre-pandemic levels in the foreseeable future," AFP quoted the former prime minister of Togo as saying in the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Worse still, progress in labour markets is likely to be far too slow to reduce the enormous decent work deficits that existed prior to, and were exacerbated by, the pandemic."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report also identifies a new, comprehensive measure of unmet need for employment – the global jobs gap. As well as those who are unemployed, this measure includes people who want employment but are not actively searching for a job, either because they are discouraged or because they have other obligations such as care responsibilities. The global jobs gap stood at 473 million in 2022, around 33 million above the level of 2019.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16504', 'image' => '20230117012751_ILO-main.jpg', 'article_date' => '2023-01-17 13:27:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16762', 'article_category_id' => '1', 'title' => ''Ensure Safety of Air Service' ', 'sub_title' => '', 'summary' => 'January 17: The Hotel Association Pokhara has urged the concerned stakeholders to ensure safety, reliability and smooth management of air service in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Hotel Association Pokhara has urged the concerned stakeholders to ensure safety, reliability and smooth management of air service in the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the wake of the Yeti Airlines plane crash in Pokhara, the association's Chairman Laxman Subedi issued a press statement on Monday and urged the Government of Nepal, Civil Aviation Authority of Nepal, and airlines companies to be serious in making air service safe and reliable in Nepal, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subedi also requested the government to intensify search and rescue works and launch relief schemes. According to RSS, Chairman Subedi expressed deep grief over the loss of lives in the accident and extended condolences to the bereaved family members. </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"">All 72 passengers on board the ill-fated aircraft with call sign 9N-ANC heading towards Pokhara from Kathmandu are feared dead after the plane fell into the Seti River gorge near Pokhara Airport on Sunday while making a final approach for landing.</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"">Rescuers have retrieved 70 bodies from the crash site as well as the black boxes with Cockpit Voice Recorder and Flight Data Recorder and handed them over to the CAAN.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government has formed a probe committee to investigate the accident, which according to CAAN is the worst air disaster in Nepal in the domestic segment in terms of human casualties.</span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16503', 'image' => '20230117122144_pokhara air.jpg', 'article_date' => '2023-01-17 12:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16761', 'article_category_id' => '1', 'title' => 'CAAN Carries Out Technical Tests of all ATR Aircraft operating in Nepal ', 'sub_title' => '', 'summary' => 'January 17: The Civil Aviation Authority of Nepal (CAAN) has undertaken technical tests of all ATR aircraft being used for domestic flights in Nepal after mounting public concerns following the Yeti Airlines plane crash in Pokhara on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Civil Aviation Authority of Nepal (CAAN) has undertaken technical tests of all ATR aircraft being used for domestic flights in Nepal after mounting public concerns following the Yeti Airlines plane crash in Pokhara on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday evening, CAAN Spokesperson Jagannath Niraula said that security inspectors from the regulatory body completed the task of undertaking comprehensive technical tests on all ATR-42 and ATR-72 planes being operated in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN has also informed that no technical faults were spotted in the aircraft during the tests. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN in its press release clarified that daily inspection of plane for airworthiness, pre-flight inspection and maintenance-related tasks have been found carried out as per the International Civil Aviation Organization (ICAO) standards and recommendations and the standards of aircraft manufacturing company. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16502', 'image' => '20230117112603_airraft.jpg', 'article_date' => '2023-01-17 11:25:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16760', 'article_category_id' => '1', 'title' => 'Yeti Airlines Plane Crash Deals Major Blow to Tourism Industry: TAAN ', 'sub_title' => '', 'summary' => 'Trekking Agencies’ Association of Nepal (TAAN) said the Yeti Airlines plane crash in Pokhara, the country’s tourist town on Sunday had dealt a powerful blow to Nepal’s aviation and tourism sectors. ', 'content' => '<p><br /> <span style="font-size:20px">January 17: Trekking Agencies’ Association of Nepal (TAAN) said the Yeti Airlines plane crash in Pokhara, the country’s tourist town on Sunday had dealt a powerful blow to Nepal’s aviation and tourism sectors. </span></p> <p><span style="font-size:20px">Issuing a press statement on Monday, TAAN General Secretary Binod Sapkota said the crash had caused an irreparable loss to the domestic tourism industry that was trying to revive from the COVID-19 pandemic and its repercussions. </span></p> <p><span style="font-size:20px">TAAN's press statement describes that flights at Pokhara Regional International Airport were recently launched and the crash at the country’s tourist town had dealt a major blow to the domestic tourism business in Nepal.</span></p> <p><span style="font-size:20px">TAAN President Nilhari Bastola demanded that government take appropriate measures to ensure Nepal’s sky and aviation service are safe. </span></p> <p><span style="font-size:20px">Bastola advised concerned government agencies to take measures for the prevention of such incidents in the future. </span></p> <p><span style="font-size:20px">The plane with the call sign 9N-ANC ATR-72-500 that had left Kathmandu for Pokhara carrying 72 people, including 68 passengers and four crew members, had crashed on the Seti River Gorge on January 15. </span></p> <p><span style="font-size:20px">Meanwhile, The Hotel Association Nepal (HAN) expressed its sorrow over the plane crash. "The Association and all other organisations under it are saddened by the incident. In this time of sorrow, we offer our condolences to all passengers and crew members killed in the tragedy, and to the bereaved families," reads a statement issued by the HAN. </span></p> <p><span style="font-size:20px">HAN said the tragic plane crash had caused negative impact not only on the country's aviation sector, but also the whole nation and tourism sector as it has spread the message at national and international levels that Nepal's sky is unsafe and risky. --RSS</span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16501', 'image' => '20230117055403_collage (61).jpg', 'article_date' => '2023-01-17 05:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '16775', 'article_category_id' => '1', 'title' => 'SC Issues Interim Order to Halt Cable Car Construction Project in Sikles', 'sub_title' => '', 'summary' => 'The Supreme Court (SC) has issued an interim order not to undertake cable car construction project or any other physical construction projects along the Sikles Annapurna Conservation Area in Kaski. ', 'content' => '<p><br /> <span style="font-size:18px">January 18: The Supreme Court (SC) has issued an interim order not to undertake cable car construction project or any other physical construction projects along the Sikles Annapurna Conservation Area in Kaski. </span></p> <p><span style="font-size:18px">A single bench of justice Til Prasad Shrestha issued the order to this effect, stating the matter required to be finalized only after discussing with both parties due to its gravity and sensitivity. </span></p> <p><span style="font-size:18px">In response to a writ petition filed by advocate Padam Bahadur Shrestha, the order was issued in accordance with the Supreme Court Regulations, 2074.</span></p> <p><span style="font-size:18px"> The writ petition has made the Office of the Prime Minister and Council of Ministers, and the Ministry of Forest and Environment the defendants.</span></p> <p><span style="font-size:18px">The writ petition is seeking the Apex Court to annul the government decision to endorse project’s environmental impact assessment report and other government decisions and documents in this regard through the issuance of mandamus. </span></p> <p><span style="font-size:18px">Sikles Annapurna Cable Car Pvt Ltd is planning to build a cable car system in Sikles of Madi Rural Municipality, Kaski. The Sikles Cable car project will cover a distance of 6.5 kilometers. The project is estimated to cost Rs 7 billion. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16516', 'image' => '20230118052755_collage (65).jpg', 'article_date' => '2023-01-18 17:24:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '16773', 'article_category_id' => '1', 'title' => 'Nepal Exports Broom Grass worth Rs 2.5 Billion in 5 Years', 'sub_title' => '', 'summary' => 'January 18: Nepal exported Amriso or Tiger grass (commonly known as broom grass) worth Rs 2.5 billion in the last five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 18: Nepal exported Amriso or Tiger grass (commonly known as broom grass) worth Rs 2.5 billion in the last five years. According to the data of the Department of Customs, broom grass, which is mainly used to make brooms, is exported from Nepal to various Asian countries including India and Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first five months of the current fiscal year, Nepal exported more than 4,265,000 kilograms of broom grass worth Rs 213 million, which is 10 percent more compared to the same period of last year. Last year, Nepal exported more than 3,892,000 kilograms of broom grass worth Rs 192 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Where is broom grass cultivated in Nepal?</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is mostly found in central and eastern parts of Nepal. It is also one of the main sources of income for farmers in Taplejung, Ilam, Panchthar, Tehrathum, Dhankuta and other districts. Razia Banu, who is involved in the business of broom grass, told New Business Age that the grass is exported to India and Bangladesh in addition to various cities within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the price of one kg of broom grass ranges from Rs 150 to Rs 200, which can make up to two brooms. She said that the ready-made brooms are sold between Rs 100 and Rs 120.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Banu, 90 percent of broom grass produced in Nepal is exported to India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is cultivated by many people to prevent landslides. As it provides good income along with the prevention of landslides, farmers are cultivating broom grass on the banks of rivers where there is no scope for other crops.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is used in making paper, and the dust is used in biogas. Banu said that the local government has been encouraging the commercial farming of broom grass lately. Speaking from her experience, Banu said broom grass does not need application of fertilizers time and again after putting it once. The same plant will produce for 15 to 20 years and it does not need much care and maintenance.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16514', 'image' => '20230118030543_broom grass.jpg', 'article_date' => '2023-01-18 15:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16772', 'article_category_id' => '1', 'title' => 'Biratnagar Mayor Tells City Police to Confiscate Goods Kept Outside Shutters', 'sub_title' => '', 'summary' => 'January 18: Biratnagar Metropolitan City’s Mayor Nagesh Koirala has instructed the metropolitan police to confiscate goods placed outside the shutters of the shops in the city.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 18: Biratnagar Metropolitan City’s Mayor Nagesh Koirala has instructed the metropolitan police to confiscate goods placed outside the shutters of the shops in the city. The metropolis, which has initiated a campaign to make Biratnagar clean, beautiful and orderly, has intensified the works of cleaning the city and managing traffic and parking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A team led by Mayor Koirala conducted an on-site monitoring of the condition of parking areas and footpaths on January 16. During the monitoring, the team found that goods were kept outside the shutters of the shops. Koirala has instructed the metropolitan police to take goods kept outside the shutters under control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The city has repeatedly published public notices and asked people not to keep things outside the shutters," he said, adding, “You can't complain about that.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> He also urged everyone to help the metropolis because it is the responsibility of all the citizens of Biratnagar to organize it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Mayor Koirala along with Deputy Mayor Shilpa Nirala Karki, Transport Management Committee Coordinator Tirthendra Neupane, head of the Revenue Division Saroj Gautam, Metropolitan Police Chief Rajan Paudel, District Traffic Police Office Morang’s Chief Raj Kumar Karki and other officials were involved in the monitoring.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first phase, the metropolis has already declared a no-parking zone from Jaljalachowk to Koshi Hospital Chowk. The parking management of that area is done in front of Jaljala Hall. The team also inspected the parking lot under construction at Mahaveer Road North and Old Gudri. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16513', 'image' => '20230118021031_101658636_2655100374726359_4593699279507292160_n.jpg', 'article_date' => '2023-01-18 14:09:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16771', 'article_category_id' => '1', 'title' => 'PM Dahal Expands Cabinet', 'sub_title' => '', 'summary' => 'January 18: Prime Minister Pushpa Kamal Dahal on Tuesday expanded the Council of Ministers, inducting 12 new ministers in the cabinet.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 18: Prime Minister Pushpa Kamal Dahal on Tuesday expanded the Council of Ministers, inducting 12 new ministers in the cabinet. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dahal also inducted three state ministers from the parties that backed him as the prime minister. However, Janata Samajbadi Party and Nagarik Unmukti Party, which supported Dahal’s bid to become the prime minister, opted to stay out of the government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Council of Ministers now has 23 ministers, including four deputy prime ministers (DPM) and three state ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The newly-appointed DPMs, ministers and state ministers are from </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (Maoist Centre), CPN-UML, Rastriya Prajatantra Party, Rastriya Swatantra Party and Janamat Party.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">President Bidhya Devi Bhandari administered the oath of office and secrecy to the cabinet ministers amid a function at Shital Niwas on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The prime minister has kept two ministerial portfolios including the Ministry of Youth and Sports and the Ministry of Forest and Environment with himself in order to hand over those ministries to other coalition partners. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The cabinet has eight ministers from UML, six from Maoist Centre, four each from RSP and RPP and one from Janamat Party.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the constitution, the cabinet cannot have more than 25 ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">The members of the Council of Ministers is as follows:</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Puspa Kamal Dahal: PM, Minister for Forests and Environment and Minister for Youth and Sports</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bishnu Paudel: DPM and Minister for Finance</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Narayan Kaji Shrestha: DPM and Minister for Physical Infrastructure and Transport</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rabi Lamichhane: DPM and Minister for Home Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rajendra Lingden: DPM and Minister for Energy, Water Resources and Irrigation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rekha sharma: Minister for Communications and Information Technology</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bikram Pandey: Minister for Urban Development</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Jwala Kumari Shah: Minister for Agriculture and Livestock Development</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Damodar Bhandari: Minister for Industry, Commerce and Supplies</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rajendra Rai: Minister for Land Management, Cooperatives and Poverty Alleviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Abdul Khan: Minister for Water Supply</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Bimala Rai Paudyal: Minister for Foreign Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Padam Giri: Minister for Health and Population</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bhagawati Chaudhari: Minister for Women, Children and Senior Citizens</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Hari Prasad Upreti: Minister for Defence</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sudan Kirati: Minister for Culture, Tourism and Civil Aviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Aman lal Modi: Minister for Federal Affairs and General Administration</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shishir Khanal: Minister for Education, Science and Technology</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dol Prasad Aryal: Minister for Labor, Employment and Social Security</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dhruba Pradhan: Minister for Law, Justice and Parliamentary Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sushila Sirpali Thakuri: State Minister for Culture, Tourism and Civil Aviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Toshima Karki: State Minister for Health and Population</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Deepak Singh: State Minister for Energy, Water Resources and Irrigation</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Re</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16512', 'image' => '20230118122436_PRO_KTM-6F8A0052.jpg', 'article_date' => '2023-01-18 12:23:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16770', 'article_category_id' => '1', 'title' => 'NRB Tells Infrastructure Development Banks to Submit Details on SIS Portal ', 'sub_title' => '', 'summary' => 'January 18: Nepal Rastra Bank (NRB) has revised the Unified Directives to Infrastructure Development Banks, 2078 BS making it mandatory for infrastructure development banks to enter the details of their daily liquidity situation and inter-bank transactions in the Supervisory Information System (SIS) of NRB. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 18: Nepal Rastra Bank (NRB) has revised the Unified Directives to Infrastructure Development Banks, 2078 BS making it mandatory for infrastructure development banks to enter the details of their daily liquidity situation and inter-bank transactions in the Supervisory Information System (SIS) of NRB. </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"">Issuing a circular on Tuesday, the central bank instructed the authorized infrastructure banks to follow the new rules issued in line with Section 79 of the Nepal Rastra Bank Act, 2058.</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 banks must now submit the liquidity statement through the SIS by 12 noon of the next working day and the statement of inter-bank transactions upon completion of the transaction. NRB has also instructed such banks to enter the details of the returns and ad hoc data in the system within June 16 later this year.</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 infrastructure development banks must also submit the details of interest rates of deposits and loans through the same system within seven days of amendment of the interest rates. </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"">As per the new provisions, the licensed infrastructure development banks will also have to update the details including primary information, details of committee, ownership details, subsidiary/associates details, details of board of directors, details of auditors name, details of management team name, details of chief executive officer (CEO) name, details of compliance and reporting officer name, annual general meeting report and resolution and policies and procedures within seven days of change.</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"">Nepal Infrastructure Development Bank is the one and only infrastructure development bank in the country so far.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16511', 'image' => '20230118115453_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-01-18 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16769', 'article_category_id' => '1', 'title' => 'China Warns of 'Spillover' from Western Rate Hikes', 'sub_title' => '', 'summary' => 'January 18: China's Vice Premier Liu He has warned about the impact of "spillover effects" of Western interest rate hikes on emerging economies.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 18: China's Vice Premier Liu He has warned about the impact of "spillover effects" of Western interest rate hikes on emerging economies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, Liu drew the attention of world leaders during the World Economic Forum in Davos, Switzerland on Tuesday about the spillover effects of major countries' rate hikes on emerging market and developing countries so as not to add to more debt or financial risks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The news agency added that the US Federal Reserve has hiked its benchmark lending rate at a pace unheard of since the 1980s over the last year to tame soaring inflation, while the European Central Bank has also raised borrowing costs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US moves have strengthened the value of the dollar, raising the cost of borrowing for countries with debt priced in greenbacks. They also encourage capital flight from emerging countries and dampen economic growth there, AFP added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Liu also called for an end "to Cold War mentality" as he spoke in favour of more global cooperation amid soaring tensions between Washington and Beijing over economic policy as well as Taiwan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We need to uphold the right principles and uphold the effective international economic order. We have to abandon the Cold War mentality," AFP quoted him as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China's export-oriented economy is seen as being particularly threatened by changes to the global trading system, with the United States in particular looking to shore up its domestic industry and limit trade with Beijing in key strategic sectors, according to AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The concerns raised by the Chinese vice premier is also relevant in the context of Nepal as the country is forced to pay an additional amount of public debt of Rs 5.52 billion in the first quarter of the current fiscal year because of the change in foreign exchange rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accumulated public debt of the Government of Nepal stands at Rs 2007.84 billion in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a report published by the Public Debt Management Office of the Government of Nepal, the country’s outstanding foreign debt in the first quarter of the current fiscal year is Rs 1050.23 billion while the internal debt is Rs 957.61 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Comparing this figure with the data of mid-July, the country’s external debt has increased by Rs 24.38 billion while the internal debt has declined by Rs 29.83 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s Gross Domestic Product (GDP) at present is Rs 4851.62 billion. Compared to the GDP, Nepal’s public debt stands at 41.38 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16510', 'image' => '20230118105740_Untitled.jpg', 'article_date' => '2023-01-18 10:56:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16768', 'article_category_id' => '1', 'title' => 'Sanima Middle Tamor Hydropower Limited Opens IPO to Project-affected Locals and Migrant Workers ', 'sub_title' => '', 'summary' => 'Sanima Middle Tamor Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Taplejung district and Nepali citizens working in foreign countries from Wednesday. ', 'content' => '<p><span style="font-size:18px">January 18: Sanima Middle Tamor Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Taplejung district and Nepali citizens working in foreign countries from Wednesday. </span></p> <p><span style="font-size:18px">Out of the total issued capital of Rs 3,33,25,00000, the hydropower is issuing 10 per cent share of the share, i.e. 33,32,500 units of shares to the project-affected locals of Taplejung district at the face value of Rs 100 per unit of share. </span></p> <p><span style="font-size:18px">Of the total units of shares issued to the locals, as many as 13,33,000 units of shares are being issued to highly-affected residents of wards no 1,2,9 and 10 of Fungling Municipality, ward no 1 of Faktanlung Rural Municipality, wards no 1 and 2 of Bhikwakhola Rural Municipality, ward no 5 of Triveni Rural Municipality and ward no 1 of Maiwa Khola Rural Municipality. </span></p> <p><span style="font-size:18px">Remaining 19, 99,500 units of shares are being issued to locals of Taplejung district.</span></p> <p><span style="font-size:18px">The company is issuing as many as 4,99,875 units of shares, which is 10 per cent of the total 49,98,750 units of shares worth Rs 49,98,75000 separated for the general public, to the Nepali citizens working in foreign countries with labour permission received from the Labour Department in Nepal. </span></p> <p><span style="font-size:18px">One can apply for a minimum of 10 shares, while the maximum unit of shares they can purchase is 20,000 at a face value of Rs 100. </span></p> <p><span style="font-size:18px">The closing date of the IPO is February 1, 2023 for both migrant workers and project-affected locals of Taplejung. If the IPO goes under-subscribed issued for the locals, the deadline will be extended until February 16 , 2023. <br /> </span></p> <p><span style="font-size:18px">Migrant workers can apply for the IPO through Mero Share, while project-affected locals can visit company’s office at Dhumbarahi, Kathmandu, project site in Taplejung, and branch offices of Sanima Bank, Global IMe Bank, Laxmi Bank, and Sunrise Bank in Taplejung to apply for the IPO.</span></p> <p><span style="font-size:18px">Sanima Middle Tamor Hydropower Company is constructing Middle Tamor Tamor Hydro Power Project of 73 megawatt in Taplejung. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16509', 'image' => '20230118061907_collage (64).jpg', 'article_date' => '2023-01-18 06:12:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '16767', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Resumes Kathmandu-Beijing Flights', 'sub_title' => '', 'summary' => 'January 17: The Himalaya Airlines has resumed its direct scheduled flights from Kathmandu to Beijing, the capital of the People's Republic of China from January 17. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Himalaya Airlines has resumed its direct scheduled flights from Kathmandu to Beijing, the capital of the People's Republic of China from January 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Premnath Thakur, general manager of TIA, shared that the flight, first since the suspension of flights during COVID-19 pandemic in 2020, departed from the Tribhuvan International Airport at 10:41 am and landed at Beijing’s Daxing International Airport. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flight to China resumed after the northern neighbour withdrew travel restrictions on January 8 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many international airlines have begun operating flights to the Chinese capital city after a hiatus of nearly two years. The Himalayan Airlines, a Nepal-China joint venture company, is one among them, the airlines said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China also recently announced a new 144-hour visa-free transit policy which allows travelers to enjoy up to six days of stay in designated territories of China such as Beijing, Tianjin and Hebei. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Against this backdrop, the airlines will be operating one flight week to and from Beijing’s Daxing International Airport, the newest international airport in Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China had put a halt on all international flights on its soil since March 1, 2020 after the outbreak of the COVID-19 pandemic. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-02-17', 'keywords' => '', 'description' => '', 'sortorder' => '16508', 'image' => '20230119051928_Himalaya Airlines 2.jpg', 'article_date' => '2023-01-17 20:10:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16766', 'article_category_id' => '222', 'title' => 'Nepal Insurance Authority gives nod to merger agreement of United and Ajod Insurance ', 'sub_title' => '', 'summary' => 'Nepal Insurance Authority has given its green light to a merger agreement signed by Ajod Insurance Limited and United Insurance Limited. ', 'content' => '<p><br /> <br /> <span style="font-size:20px">January 17: Nepal Insurance Authority has given its green light to a merger agreement signed by Ajod Insurance Limited and United Insurance Limited. </span></p> <p><span style="font-size:20px">Issuing a letter on January 13, insurance authority has given its nod to the two insurance companies to go into a merger. </span></p> <p><span style="font-size:20px">United Insurance Limited and Ajod Insurance Limited had signed the merger agreement on January 10. Both entities have agreed to prepare swap ration based on the Due Diligence (DDA) report. </span></p> <p><span style="font-size:20px">Earlier, Ajod Insurance and Prabhu Insurance had inked a memorandum of understanding (MoU) for a merger. However, the merger process was aborted after they could not agree on the name of the merged entity and swap ratio. </span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16507', 'image' => '20230117053612_collage (63).jpg', 'article_date' => '2023-01-17 17:32:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '16765', 'article_category_id' => '1', 'title' => 'Sales of EVs Increasing in Nepal', 'sub_title' => '', 'summary' => 'January 17: The general public’s attraction towards electric vehicles (EVs) has increased in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 17: The general public’s attraction towards electric vehicles (EVs) has increased in Nepal. The sales ratio of EV and petroleum vehicles was 50/50 between April 2021 to December 2022, shares Ajit Narayan Singh, sales manager of Tata Motors. He claimed that 80 per cent of the sold EVs were Tata Motors vehicles.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The turnover of the automobile sector has dropped significantly due to the import ban, the economic situation of the country, the liquidity crisis and the policy adopted by the Nepal Rastra Bank. According to Singh, the sales of all vehicles have decreased by 70 per cent compared to the previous fiscal years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Singh said that although the total volume of vehicle sales has decreased, the sales of EVs have increased by 50 per cent. He credited the government for the increase in sales of EV. He added, “After the government reduced the tax in July 2021, the EV sector was boomed. Soon after, the sales volume increased and the market situation improved. If there was no problem with liquidity, the situation would have been different.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Singh, his customers say that EVs are cheaper to buy and more comfortable to drive than petrol/diesel vehicles. He added that in a survey conducted by the company, customers said that they would not buy cars run by fossil fuel anymore. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Both men and women had the same reaction," said Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">EV users claim that its maintenance costs are three times cheaper than that of the internal combustion engine (ICE) vehicles. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Running vehicles on fuel costs an average of Rs 14 per kilometer but an EV travels 200 kilometres for just Rs 300. That means the cost of covering one kilometer is Rs 1.5.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Singh said that if the government has a positive attitude towards this sector, 50 to 60 per cent of the total sales of four-wheelers will be that of EVs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal is importing petroleum products in large quantities. A large amount of foreign currency is being spent on this. On the other hand, there is a situation where the electricity produced in Nepal is not consumed during the rainy season and is wasted.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He said that the government should further promote EVs to increase the internal consumption of electricity as the production is projected to rise in the near future.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">For this, he said, the government should provide subsidies for EVs, subsidies for houses, subsidies for charging stations, and free parking for EVs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The price of EVs is expensive in the international market. However, experts said that with the development of technology, its price may drop drastically.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A few months ago, the Nepal government banned the import of luxury items including ICE cars for private use. Now the ban has been lifted. Although the import of vehicles has been opened, the sale of the automobile sector has not improved.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16506', 'image' => '20230117053450_electric-car.jpg', 'article_date' => '2023-01-17 17:34:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16764', 'article_category_id' => '1', 'title' => 'Interest on Home Loans of Commercial Banks Climbs above 9 Percent', 'sub_title' => '', 'summary' => 'January 17: The interest rate of home loans provided by commercial banks to the general public for building and buying houses has reached more than 9 percent per annum.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 17: The interest rate of home loans provided by commercial banks to the general public for building and buying houses has reached more than 9 percent per annum. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The banks had increased the interest rate to collect deposits amid liquidity crisis which resulted in an increase in base rate and the interest on loans.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The interest rate published by commercial banks from mid-January to mid-February shows that the annual interest on home loan has been maintained between 9 to 15.50 percent. Nepal Bank Limited is the one that offers the cheapest interest rate on home loans. Banks set the interest rate by adding a premium to the base rate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB, the banks have been publishing the interest rates that are fixed and subject to change on the basis of the base rate for various schemes. Under the fixed interest rate plan, the same interest rate is maintained throughout the loan period. In the interest rate taken on the basis of the base rate, the interest rate increases every quarter when the base rate increases and decreases when it decreases. The premium that banks add to the base rate is fixed at the time of loan approval and cannot be changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Agriculture Development Bank Limited has been providing home loans at a minimum fixed interest rate of 8.95 percent. Similarly, Laxmi Bank and NIC Asia Bank have set the highest interest rate of up to 15.99 percent under the fixed interest rate for home loan scheme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Most of the banks have said that a premium of up to 6 percent will be added to the loan plans that change based on the base rate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Out of the 22 commercial banks that are currently operating, 15 have announced a premium of up to 6 percent for home loans. Nepal Bank is giving home loan at the lowest minimum premium of 1 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB regarding interest rates, banks should publish the interest rate applicable every month on the last day of the previous month. Banks should mention both variable and fixed interest rates on loans of periodic nature while publishing interest rates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a fixed interest rate scheme, the banks cannot change the interest rate fixed throughout the loan period. However, on the basis of a written agreement with the customer, there is a provision to change the interest rate for the first time in 7 years of loan disbursement and thereafter every 5 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, in the variable interest rate loan plan, there is a provision for banks and financial institutions to set the base rate by adding 0.75 percent profit to the cost of their capital and to determine the interest rate by adding a certain percentage premium to it. Every quarter, when the average base rate of the bank decreases, the interest rate on loan automatically decreases and when it increases, the premium rate cannot be changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the directive, the banks should clearly mention the premium rate to be added to the base rate in the 'offer letter' of the loan given to the borrower. For such premium loans, there is a provision that the premium rate cannot be set higher than the published premium rate at the time of receiving the application. There is a provision that banks should publish the premium rate for loans along with the interest rate on deposits for the next month at the end of every month.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16505', 'image' => '20230117023053_Real estate.jpg', 'article_date' => '2023-01-17 14:30:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16763', 'article_category_id' => '1', 'title' => 'Global Economic Slowdown will Force Workers into Poorly-Paid Jobs in 2023: ILO', 'sub_title' => '', 'summary' => 'January 17: The United Nations (UN) has warned that an impending global economic slowdown will force more workers into accepting lower quality, poorly-paid jobs which lack job security and social protection in 2023', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 17: The United Nations (UN) has warned that an impending global economic slowdown will force more workers into accepting lower quality, poorly-paid jobs which lack job security and social protection in 2023, while inflation gobbles up real-term wages.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The cost-of-living crisis due to sharp rise in prices compared to incomes will risk pushing more people into poverty, the UN's International Labour Organization (ILO) warned on Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the ILO, unemployment around the world is set to rise this year accentuating inequalities exacerbated by the COVID-19 crisis.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ILO said deficits in decent work had been worsened by multiple overlapping crises, including Russia-Ukraine war, emerging geopolitical tensions, an uneven recovery from the Covid-19 pandemic and continuing supply chain bottlenecks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ILO’s World Employment and Social Outlook: Trends 2023, also projects that global employment growth will be only 1.0 per cent in 2023, less than half the level in 2022. Global unemployment is slated to rise slightly in 2023, by around 3 million, to 208 million (corresponding to a global unemployment rate of 5.8 per cent). The moderate size of this projected increase is largely due to tight labour supply in high-income countries. This would mark a reversal of the decline in global unemployment seen between 2020-2022. It means that global unemployment will remain 16 million above the pre-crisis benchmark (set in 2019).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Together, these have created the conditions for stagflation -- simultaneously high inflation and low growth -- for the first time since the 1970s," the agency said in its annual World Employment and Social Outlook report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition to unemployment “job quality remains a key concern”, the report says, adding that “decent work is fundamental to social justice”. A decade of progress in poverty reduction faltered during the COVID-19 crisis. Despite a nascent recovery during 2021, the continuing shortage of better job opportunities is likely to worsen, the study says.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The current slowdown means that many workers will have to accept lower quality jobs, often at very low pay, sometimes with insufficient hours. Furthermore, as prices rise faster than nominal labour incomes, the cost-of-living crisis risks pushing more people into poverty. This trend comes on top of significant declines in income seen during the COVID-19 crisis, which in many countries affected low-income groups worst,” states the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, ILO director general Gilbert Houngbo said the recovery from the Covid-19 pandemic was particularly patchy in low- and middle-income countries, and was further hampered by climate change and humanitarian challenges.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Projections of a slowdown in economic and employment growth in 2023 imply that most countries will fall short of a full recovery to pre-pandemic levels in the foreseeable future," AFP quoted the former prime minister of Togo as saying in the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Worse still, progress in labour markets is likely to be far too slow to reduce the enormous decent work deficits that existed prior to, and were exacerbated by, the pandemic."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report also identifies a new, comprehensive measure of unmet need for employment – the global jobs gap. As well as those who are unemployed, this measure includes people who want employment but are not actively searching for a job, either because they are discouraged or because they have other obligations such as care responsibilities. The global jobs gap stood at 473 million in 2022, around 33 million above the level of 2019.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16504', 'image' => '20230117012751_ILO-main.jpg', 'article_date' => '2023-01-17 13:27:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16762', 'article_category_id' => '1', 'title' => ''Ensure Safety of Air Service' ', 'sub_title' => '', 'summary' => 'January 17: The Hotel Association Pokhara has urged the concerned stakeholders to ensure safety, reliability and smooth management of air service in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Hotel Association Pokhara has urged the concerned stakeholders to ensure safety, reliability and smooth management of air service in the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the wake of the Yeti Airlines plane crash in Pokhara, the association's Chairman Laxman Subedi issued a press statement on Monday and urged the Government of Nepal, Civil Aviation Authority of Nepal, and airlines companies to be serious in making air service safe and reliable in Nepal, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subedi also requested the government to intensify search and rescue works and launch relief schemes. According to RSS, Chairman Subedi expressed deep grief over the loss of lives in the accident and extended condolences to the bereaved family members. </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"">All 72 passengers on board the ill-fated aircraft with call sign 9N-ANC heading towards Pokhara from Kathmandu are feared dead after the plane fell into the Seti River gorge near Pokhara Airport on Sunday while making a final approach for landing.</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"">Rescuers have retrieved 70 bodies from the crash site as well as the black boxes with Cockpit Voice Recorder and Flight Data Recorder and handed them over to the CAAN.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government has formed a probe committee to investigate the accident, which according to CAAN is the worst air disaster in Nepal in the domestic segment in terms of human casualties.</span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16503', 'image' => '20230117122144_pokhara air.jpg', 'article_date' => '2023-01-17 12:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16761', 'article_category_id' => '1', 'title' => 'CAAN Carries Out Technical Tests of all ATR Aircraft operating in Nepal ', 'sub_title' => '', 'summary' => 'January 17: The Civil Aviation Authority of Nepal (CAAN) has undertaken technical tests of all ATR aircraft being used for domestic flights in Nepal after mounting public concerns following the Yeti Airlines plane crash in Pokhara on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Civil Aviation Authority of Nepal (CAAN) has undertaken technical tests of all ATR aircraft being used for domestic flights in Nepal after mounting public concerns following the Yeti Airlines plane crash in Pokhara on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday evening, CAAN Spokesperson Jagannath Niraula said that security inspectors from the regulatory body completed the task of undertaking comprehensive technical tests on all ATR-42 and ATR-72 planes being operated in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN has also informed that no technical faults were spotted in the aircraft during the tests. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN in its press release clarified that daily inspection of plane for airworthiness, pre-flight inspection and maintenance-related tasks have been found carried out as per the International Civil Aviation Organization (ICAO) standards and recommendations and the standards of aircraft manufacturing company. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16502', 'image' => '20230117112603_airraft.jpg', 'article_date' => '2023-01-17 11:25:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16760', 'article_category_id' => '1', 'title' => 'Yeti Airlines Plane Crash Deals Major Blow to Tourism Industry: TAAN ', 'sub_title' => '', 'summary' => 'Trekking Agencies’ Association of Nepal (TAAN) said the Yeti Airlines plane crash in Pokhara, the country’s tourist town on Sunday had dealt a powerful blow to Nepal’s aviation and tourism sectors. ', 'content' => '<p><br /> <span style="font-size:20px">January 17: Trekking Agencies’ Association of Nepal (TAAN) said the Yeti Airlines plane crash in Pokhara, the country’s tourist town on Sunday had dealt a powerful blow to Nepal’s aviation and tourism sectors. </span></p> <p><span style="font-size:20px">Issuing a press statement on Monday, TAAN General Secretary Binod Sapkota said the crash had caused an irreparable loss to the domestic tourism industry that was trying to revive from the COVID-19 pandemic and its repercussions. </span></p> <p><span style="font-size:20px">TAAN's press statement describes that flights at Pokhara Regional International Airport were recently launched and the crash at the country’s tourist town had dealt a major blow to the domestic tourism business in Nepal.</span></p> <p><span style="font-size:20px">TAAN President Nilhari Bastola demanded that government take appropriate measures to ensure Nepal’s sky and aviation service are safe. </span></p> <p><span style="font-size:20px">Bastola advised concerned government agencies to take measures for the prevention of such incidents in the future. </span></p> <p><span style="font-size:20px">The plane with the call sign 9N-ANC ATR-72-500 that had left Kathmandu for Pokhara carrying 72 people, including 68 passengers and four crew members, had crashed on the Seti River Gorge on January 15. </span></p> <p><span style="font-size:20px">Meanwhile, The Hotel Association Nepal (HAN) expressed its sorrow over the plane crash. "The Association and all other organisations under it are saddened by the incident. In this time of sorrow, we offer our condolences to all passengers and crew members killed in the tragedy, and to the bereaved families," reads a statement issued by the HAN. </span></p> <p><span style="font-size:20px">HAN said the tragic plane crash had caused negative impact not only on the country's aviation sector, but also the whole nation and tourism sector as it has spread the message at national and international levels that Nepal's sky is unsafe and risky. --RSS</span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16501', 'image' => '20230117055403_collage (61).jpg', 'article_date' => '2023-01-17 05:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '16775', 'article_category_id' => '1', 'title' => 'SC Issues Interim Order to Halt Cable Car Construction Project in Sikles', 'sub_title' => '', 'summary' => 'The Supreme Court (SC) has issued an interim order not to undertake cable car construction project or any other physical construction projects along the Sikles Annapurna Conservation Area in Kaski. ', 'content' => '<p><br /> <span style="font-size:18px">January 18: The Supreme Court (SC) has issued an interim order not to undertake cable car construction project or any other physical construction projects along the Sikles Annapurna Conservation Area in Kaski. </span></p> <p><span style="font-size:18px">A single bench of justice Til Prasad Shrestha issued the order to this effect, stating the matter required to be finalized only after discussing with both parties due to its gravity and sensitivity. </span></p> <p><span style="font-size:18px">In response to a writ petition filed by advocate Padam Bahadur Shrestha, the order was issued in accordance with the Supreme Court Regulations, 2074.</span></p> <p><span style="font-size:18px"> The writ petition has made the Office of the Prime Minister and Council of Ministers, and the Ministry of Forest and Environment the defendants.</span></p> <p><span style="font-size:18px">The writ petition is seeking the Apex Court to annul the government decision to endorse project’s environmental impact assessment report and other government decisions and documents in this regard through the issuance of mandamus. </span></p> <p><span style="font-size:18px">Sikles Annapurna Cable Car Pvt Ltd is planning to build a cable car system in Sikles of Madi Rural Municipality, Kaski. The Sikles Cable car project will cover a distance of 6.5 kilometers. The project is estimated to cost Rs 7 billion. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16516', 'image' => '20230118052755_collage (65).jpg', 'article_date' => '2023-01-18 17:24:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '16773', 'article_category_id' => '1', 'title' => 'Nepal Exports Broom Grass worth Rs 2.5 Billion in 5 Years', 'sub_title' => '', 'summary' => 'January 18: Nepal exported Amriso or Tiger grass (commonly known as broom grass) worth Rs 2.5 billion in the last five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 18: Nepal exported Amriso or Tiger grass (commonly known as broom grass) worth Rs 2.5 billion in the last five years. According to the data of the Department of Customs, broom grass, which is mainly used to make brooms, is exported from Nepal to various Asian countries including India and Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first five months of the current fiscal year, Nepal exported more than 4,265,000 kilograms of broom grass worth Rs 213 million, which is 10 percent more compared to the same period of last year. Last year, Nepal exported more than 3,892,000 kilograms of broom grass worth Rs 192 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Where is broom grass cultivated in Nepal?</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is mostly found in central and eastern parts of Nepal. It is also one of the main sources of income for farmers in Taplejung, Ilam, Panchthar, Tehrathum, Dhankuta and other districts. Razia Banu, who is involved in the business of broom grass, told New Business Age that the grass is exported to India and Bangladesh in addition to various cities within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the price of one kg of broom grass ranges from Rs 150 to Rs 200, which can make up to two brooms. She said that the ready-made brooms are sold between Rs 100 and Rs 120.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Banu, 90 percent of broom grass produced in Nepal is exported to India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is cultivated by many people to prevent landslides. As it provides good income along with the prevention of landslides, farmers are cultivating broom grass on the banks of rivers where there is no scope for other crops.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is used in making paper, and the dust is used in biogas. Banu said that the local government has been encouraging the commercial farming of broom grass lately. Speaking from her experience, Banu said broom grass does not need application of fertilizers time and again after putting it once. The same plant will produce for 15 to 20 years and it does not need much care and maintenance.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16514', 'image' => '20230118030543_broom grass.jpg', 'article_date' => '2023-01-18 15:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16772', 'article_category_id' => '1', 'title' => 'Biratnagar Mayor Tells City Police to Confiscate Goods Kept Outside Shutters', 'sub_title' => '', 'summary' => 'January 18: Biratnagar Metropolitan City’s Mayor Nagesh Koirala has instructed the metropolitan police to confiscate goods placed outside the shutters of the shops in the city.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 18: Biratnagar Metropolitan City’s Mayor Nagesh Koirala has instructed the metropolitan police to confiscate goods placed outside the shutters of the shops in the city. The metropolis, which has initiated a campaign to make Biratnagar clean, beautiful and orderly, has intensified the works of cleaning the city and managing traffic and parking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A team led by Mayor Koirala conducted an on-site monitoring of the condition of parking areas and footpaths on January 16. During the monitoring, the team found that goods were kept outside the shutters of the shops. Koirala has instructed the metropolitan police to take goods kept outside the shutters under control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The city has repeatedly published public notices and asked people not to keep things outside the shutters," he said, adding, “You can't complain about that.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> He also urged everyone to help the metropolis because it is the responsibility of all the citizens of Biratnagar to organize it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Mayor Koirala along with Deputy Mayor Shilpa Nirala Karki, Transport Management Committee Coordinator Tirthendra Neupane, head of the Revenue Division Saroj Gautam, Metropolitan Police Chief Rajan Paudel, District Traffic Police Office Morang’s Chief Raj Kumar Karki and other officials were involved in the monitoring.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first phase, the metropolis has already declared a no-parking zone from Jaljalachowk to Koshi Hospital Chowk. The parking management of that area is done in front of Jaljala Hall. The team also inspected the parking lot under construction at Mahaveer Road North and Old Gudri. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16513', 'image' => '20230118021031_101658636_2655100374726359_4593699279507292160_n.jpg', 'article_date' => '2023-01-18 14:09:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16771', 'article_category_id' => '1', 'title' => 'PM Dahal Expands Cabinet', 'sub_title' => '', 'summary' => 'January 18: Prime Minister Pushpa Kamal Dahal on Tuesday expanded the Council of Ministers, inducting 12 new ministers in the cabinet.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 18: Prime Minister Pushpa Kamal Dahal on Tuesday expanded the Council of Ministers, inducting 12 new ministers in the cabinet. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dahal also inducted three state ministers from the parties that backed him as the prime minister. However, Janata Samajbadi Party and Nagarik Unmukti Party, which supported Dahal’s bid to become the prime minister, opted to stay out of the government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Council of Ministers now has 23 ministers, including four deputy prime ministers (DPM) and three state ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The newly-appointed DPMs, ministers and state ministers are from </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (Maoist Centre), CPN-UML, Rastriya Prajatantra Party, Rastriya Swatantra Party and Janamat Party.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">President Bidhya Devi Bhandari administered the oath of office and secrecy to the cabinet ministers amid a function at Shital Niwas on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The prime minister has kept two ministerial portfolios including the Ministry of Youth and Sports and the Ministry of Forest and Environment with himself in order to hand over those ministries to other coalition partners. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The cabinet has eight ministers from UML, six from Maoist Centre, four each from RSP and RPP and one from Janamat Party.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the constitution, the cabinet cannot have more than 25 ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">The members of the Council of Ministers is as follows:</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Puspa Kamal Dahal: PM, Minister for Forests and Environment and Minister for Youth and Sports</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bishnu Paudel: DPM and Minister for Finance</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Narayan Kaji Shrestha: DPM and Minister for Physical Infrastructure and Transport</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rabi Lamichhane: DPM and Minister for Home Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rajendra Lingden: DPM and Minister for Energy, Water Resources and Irrigation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rekha sharma: Minister for Communications and Information Technology</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bikram Pandey: Minister for Urban Development</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Jwala Kumari Shah: Minister for Agriculture and Livestock Development</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Damodar Bhandari: Minister for Industry, Commerce and Supplies</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rajendra Rai: Minister for Land Management, Cooperatives and Poverty Alleviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Abdul Khan: Minister for Water Supply</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Bimala Rai Paudyal: Minister for Foreign Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Padam Giri: Minister for Health and Population</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bhagawati Chaudhari: Minister for Women, Children and Senior Citizens</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Hari Prasad Upreti: Minister for Defence</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sudan Kirati: Minister for Culture, Tourism and Civil Aviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Aman lal Modi: Minister for Federal Affairs and General Administration</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shishir Khanal: Minister for Education, Science and Technology</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dol Prasad Aryal: Minister for Labor, Employment and Social Security</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dhruba Pradhan: Minister for Law, Justice and Parliamentary Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sushila Sirpali Thakuri: State Minister for Culture, Tourism and Civil Aviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Toshima Karki: State Minister for Health and Population</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Deepak Singh: State Minister for Energy, Water Resources and Irrigation</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Re</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16512', 'image' => '20230118122436_PRO_KTM-6F8A0052.jpg', 'article_date' => '2023-01-18 12:23:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16770', 'article_category_id' => '1', 'title' => 'NRB Tells Infrastructure Development Banks to Submit Details on SIS Portal ', 'sub_title' => '', 'summary' => 'January 18: Nepal Rastra Bank (NRB) has revised the Unified Directives to Infrastructure Development Banks, 2078 BS making it mandatory for infrastructure development banks to enter the details of their daily liquidity situation and inter-bank transactions in the Supervisory Information System (SIS) of NRB. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 18: Nepal Rastra Bank (NRB) has revised the Unified Directives to Infrastructure Development Banks, 2078 BS making it mandatory for infrastructure development banks to enter the details of their daily liquidity situation and inter-bank transactions in the Supervisory Information System (SIS) of NRB. </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"">Issuing a circular on Tuesday, the central bank instructed the authorized infrastructure banks to follow the new rules issued in line with Section 79 of the Nepal Rastra Bank Act, 2058.</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 banks must now submit the liquidity statement through the SIS by 12 noon of the next working day and the statement of inter-bank transactions upon completion of the transaction. NRB has also instructed such banks to enter the details of the returns and ad hoc data in the system within June 16 later this year.</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 infrastructure development banks must also submit the details of interest rates of deposits and loans through the same system within seven days of amendment of the interest rates. </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"">As per the new provisions, the licensed infrastructure development banks will also have to update the details including primary information, details of committee, ownership details, subsidiary/associates details, details of board of directors, details of auditors name, details of management team name, details of chief executive officer (CEO) name, details of compliance and reporting officer name, annual general meeting report and resolution and policies and procedures within seven days of change.</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"">Nepal Infrastructure Development Bank is the one and only infrastructure development bank in the country so far.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16511', 'image' => '20230118115453_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-01-18 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16769', 'article_category_id' => '1', 'title' => 'China Warns of 'Spillover' from Western Rate Hikes', 'sub_title' => '', 'summary' => 'January 18: China's Vice Premier Liu He has warned about the impact of "spillover effects" of Western interest rate hikes on emerging economies.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 18: China's Vice Premier Liu He has warned about the impact of "spillover effects" of Western interest rate hikes on emerging economies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, Liu drew the attention of world leaders during the World Economic Forum in Davos, Switzerland on Tuesday about the spillover effects of major countries' rate hikes on emerging market and developing countries so as not to add to more debt or financial risks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The news agency added that the US Federal Reserve has hiked its benchmark lending rate at a pace unheard of since the 1980s over the last year to tame soaring inflation, while the European Central Bank has also raised borrowing costs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US moves have strengthened the value of the dollar, raising the cost of borrowing for countries with debt priced in greenbacks. They also encourage capital flight from emerging countries and dampen economic growth there, AFP added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Liu also called for an end "to Cold War mentality" as he spoke in favour of more global cooperation amid soaring tensions between Washington and Beijing over economic policy as well as Taiwan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We need to uphold the right principles and uphold the effective international economic order. We have to abandon the Cold War mentality," AFP quoted him as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China's export-oriented economy is seen as being particularly threatened by changes to the global trading system, with the United States in particular looking to shore up its domestic industry and limit trade with Beijing in key strategic sectors, according to AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The concerns raised by the Chinese vice premier is also relevant in the context of Nepal as the country is forced to pay an additional amount of public debt of Rs 5.52 billion in the first quarter of the current fiscal year because of the change in foreign exchange rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accumulated public debt of the Government of Nepal stands at Rs 2007.84 billion in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a report published by the Public Debt Management Office of the Government of Nepal, the country’s outstanding foreign debt in the first quarter of the current fiscal year is Rs 1050.23 billion while the internal debt is Rs 957.61 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Comparing this figure with the data of mid-July, the country’s external debt has increased by Rs 24.38 billion while the internal debt has declined by Rs 29.83 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s Gross Domestic Product (GDP) at present is Rs 4851.62 billion. Compared to the GDP, Nepal’s public debt stands at 41.38 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16510', 'image' => '20230118105740_Untitled.jpg', 'article_date' => '2023-01-18 10:56:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16768', 'article_category_id' => '1', 'title' => 'Sanima Middle Tamor Hydropower Limited Opens IPO to Project-affected Locals and Migrant Workers ', 'sub_title' => '', 'summary' => 'Sanima Middle Tamor Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Taplejung district and Nepali citizens working in foreign countries from Wednesday. ', 'content' => '<p><span style="font-size:18px">January 18: Sanima Middle Tamor Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Taplejung district and Nepali citizens working in foreign countries from Wednesday. </span></p> <p><span style="font-size:18px">Out of the total issued capital of Rs 3,33,25,00000, the hydropower is issuing 10 per cent share of the share, i.e. 33,32,500 units of shares to the project-affected locals of Taplejung district at the face value of Rs 100 per unit of share. </span></p> <p><span style="font-size:18px">Of the total units of shares issued to the locals, as many as 13,33,000 units of shares are being issued to highly-affected residents of wards no 1,2,9 and 10 of Fungling Municipality, ward no 1 of Faktanlung Rural Municipality, wards no 1 and 2 of Bhikwakhola Rural Municipality, ward no 5 of Triveni Rural Municipality and ward no 1 of Maiwa Khola Rural Municipality. </span></p> <p><span style="font-size:18px">Remaining 19, 99,500 units of shares are being issued to locals of Taplejung district.</span></p> <p><span style="font-size:18px">The company is issuing as many as 4,99,875 units of shares, which is 10 per cent of the total 49,98,750 units of shares worth Rs 49,98,75000 separated for the general public, to the Nepali citizens working in foreign countries with labour permission received from the Labour Department in Nepal. </span></p> <p><span style="font-size:18px">One can apply for a minimum of 10 shares, while the maximum unit of shares they can purchase is 20,000 at a face value of Rs 100. </span></p> <p><span style="font-size:18px">The closing date of the IPO is February 1, 2023 for both migrant workers and project-affected locals of Taplejung. If the IPO goes under-subscribed issued for the locals, the deadline will be extended until February 16 , 2023. <br /> </span></p> <p><span style="font-size:18px">Migrant workers can apply for the IPO through Mero Share, while project-affected locals can visit company’s office at Dhumbarahi, Kathmandu, project site in Taplejung, and branch offices of Sanima Bank, Global IMe Bank, Laxmi Bank, and Sunrise Bank in Taplejung to apply for the IPO.</span></p> <p><span style="font-size:18px">Sanima Middle Tamor Hydropower Company is constructing Middle Tamor Tamor Hydro Power Project of 73 megawatt in Taplejung. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16509', 'image' => '20230118061907_collage (64).jpg', 'article_date' => '2023-01-18 06:12:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '16767', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Resumes Kathmandu-Beijing Flights', 'sub_title' => '', 'summary' => 'January 17: The Himalaya Airlines has resumed its direct scheduled flights from Kathmandu to Beijing, the capital of the People's Republic of China from January 17. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Himalaya Airlines has resumed its direct scheduled flights from Kathmandu to Beijing, the capital of the People's Republic of China from January 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Premnath Thakur, general manager of TIA, shared that the flight, first since the suspension of flights during COVID-19 pandemic in 2020, departed from the Tribhuvan International Airport at 10:41 am and landed at Beijing’s Daxing International Airport. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flight to China resumed after the northern neighbour withdrew travel restrictions on January 8 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many international airlines have begun operating flights to the Chinese capital city after a hiatus of nearly two years. The Himalayan Airlines, a Nepal-China joint venture company, is one among them, the airlines said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China also recently announced a new 144-hour visa-free transit policy which allows travelers to enjoy up to six days of stay in designated territories of China such as Beijing, Tianjin and Hebei. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Against this backdrop, the airlines will be operating one flight week to and from Beijing’s Daxing International Airport, the newest international airport in Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China had put a halt on all international flights on its soil since March 1, 2020 after the outbreak of the COVID-19 pandemic. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-02-17', 'keywords' => '', 'description' => '', 'sortorder' => '16508', 'image' => '20230119051928_Himalaya Airlines 2.jpg', 'article_date' => '2023-01-17 20:10:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16766', 'article_category_id' => '222', 'title' => 'Nepal Insurance Authority gives nod to merger agreement of United and Ajod Insurance ', 'sub_title' => '', 'summary' => 'Nepal Insurance Authority has given its green light to a merger agreement signed by Ajod Insurance Limited and United Insurance Limited. ', 'content' => '<p><br /> <br /> <span style="font-size:20px">January 17: Nepal Insurance Authority has given its green light to a merger agreement signed by Ajod Insurance Limited and United Insurance Limited. </span></p> <p><span style="font-size:20px">Issuing a letter on January 13, insurance authority has given its nod to the two insurance companies to go into a merger. </span></p> <p><span style="font-size:20px">United Insurance Limited and Ajod Insurance Limited had signed the merger agreement on January 10. Both entities have agreed to prepare swap ration based on the Due Diligence (DDA) report. </span></p> <p><span style="font-size:20px">Earlier, Ajod Insurance and Prabhu Insurance had inked a memorandum of understanding (MoU) for a merger. However, the merger process was aborted after they could not agree on the name of the merged entity and swap ratio. </span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16507', 'image' => '20230117053612_collage (63).jpg', 'article_date' => '2023-01-17 17:32:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '16765', 'article_category_id' => '1', 'title' => 'Sales of EVs Increasing in Nepal', 'sub_title' => '', 'summary' => 'January 17: The general public’s attraction towards electric vehicles (EVs) has increased in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 17: The general public’s attraction towards electric vehicles (EVs) has increased in Nepal. The sales ratio of EV and petroleum vehicles was 50/50 between April 2021 to December 2022, shares Ajit Narayan Singh, sales manager of Tata Motors. He claimed that 80 per cent of the sold EVs were Tata Motors vehicles.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The turnover of the automobile sector has dropped significantly due to the import ban, the economic situation of the country, the liquidity crisis and the policy adopted by the Nepal Rastra Bank. According to Singh, the sales of all vehicles have decreased by 70 per cent compared to the previous fiscal years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Singh said that although the total volume of vehicle sales has decreased, the sales of EVs have increased by 50 per cent. He credited the government for the increase in sales of EV. He added, “After the government reduced the tax in July 2021, the EV sector was boomed. Soon after, the sales volume increased and the market situation improved. If there was no problem with liquidity, the situation would have been different.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Singh, his customers say that EVs are cheaper to buy and more comfortable to drive than petrol/diesel vehicles. He added that in a survey conducted by the company, customers said that they would not buy cars run by fossil fuel anymore. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Both men and women had the same reaction," said Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">EV users claim that its maintenance costs are three times cheaper than that of the internal combustion engine (ICE) vehicles. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Running vehicles on fuel costs an average of Rs 14 per kilometer but an EV travels 200 kilometres for just Rs 300. That means the cost of covering one kilometer is Rs 1.5.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Singh said that if the government has a positive attitude towards this sector, 50 to 60 per cent of the total sales of four-wheelers will be that of EVs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal is importing petroleum products in large quantities. A large amount of foreign currency is being spent on this. On the other hand, there is a situation where the electricity produced in Nepal is not consumed during the rainy season and is wasted.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He said that the government should further promote EVs to increase the internal consumption of electricity as the production is projected to rise in the near future.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">For this, he said, the government should provide subsidies for EVs, subsidies for houses, subsidies for charging stations, and free parking for EVs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The price of EVs is expensive in the international market. However, experts said that with the development of technology, its price may drop drastically.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A few months ago, the Nepal government banned the import of luxury items including ICE cars for private use. Now the ban has been lifted. Although the import of vehicles has been opened, the sale of the automobile sector has not improved.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16506', 'image' => '20230117053450_electric-car.jpg', 'article_date' => '2023-01-17 17:34:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16764', 'article_category_id' => '1', 'title' => 'Interest on Home Loans of Commercial Banks Climbs above 9 Percent', 'sub_title' => '', 'summary' => 'January 17: The interest rate of home loans provided by commercial banks to the general public for building and buying houses has reached more than 9 percent per annum.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 17: The interest rate of home loans provided by commercial banks to the general public for building and buying houses has reached more than 9 percent per annum. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The banks had increased the interest rate to collect deposits amid liquidity crisis which resulted in an increase in base rate and the interest on loans.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The interest rate published by commercial banks from mid-January to mid-February shows that the annual interest on home loan has been maintained between 9 to 15.50 percent. Nepal Bank Limited is the one that offers the cheapest interest rate on home loans. Banks set the interest rate by adding a premium to the base rate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB, the banks have been publishing the interest rates that are fixed and subject to change on the basis of the base rate for various schemes. Under the fixed interest rate plan, the same interest rate is maintained throughout the loan period. In the interest rate taken on the basis of the base rate, the interest rate increases every quarter when the base rate increases and decreases when it decreases. The premium that banks add to the base rate is fixed at the time of loan approval and cannot be changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Agriculture Development Bank Limited has been providing home loans at a minimum fixed interest rate of 8.95 percent. Similarly, Laxmi Bank and NIC Asia Bank have set the highest interest rate of up to 15.99 percent under the fixed interest rate for home loan scheme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Most of the banks have said that a premium of up to 6 percent will be added to the loan plans that change based on the base rate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Out of the 22 commercial banks that are currently operating, 15 have announced a premium of up to 6 percent for home loans. Nepal Bank is giving home loan at the lowest minimum premium of 1 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB regarding interest rates, banks should publish the interest rate applicable every month on the last day of the previous month. Banks should mention both variable and fixed interest rates on loans of periodic nature while publishing interest rates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a fixed interest rate scheme, the banks cannot change the interest rate fixed throughout the loan period. However, on the basis of a written agreement with the customer, there is a provision to change the interest rate for the first time in 7 years of loan disbursement and thereafter every 5 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, in the variable interest rate loan plan, there is a provision for banks and financial institutions to set the base rate by adding 0.75 percent profit to the cost of their capital and to determine the interest rate by adding a certain percentage premium to it. Every quarter, when the average base rate of the bank decreases, the interest rate on loan automatically decreases and when it increases, the premium rate cannot be changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the directive, the banks should clearly mention the premium rate to be added to the base rate in the 'offer letter' of the loan given to the borrower. For such premium loans, there is a provision that the premium rate cannot be set higher than the published premium rate at the time of receiving the application. There is a provision that banks should publish the premium rate for loans along with the interest rate on deposits for the next month at the end of every month.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16505', 'image' => '20230117023053_Real estate.jpg', 'article_date' => '2023-01-17 14:30:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16763', 'article_category_id' => '1', 'title' => 'Global Economic Slowdown will Force Workers into Poorly-Paid Jobs in 2023: ILO', 'sub_title' => '', 'summary' => 'January 17: The United Nations (UN) has warned that an impending global economic slowdown will force more workers into accepting lower quality, poorly-paid jobs which lack job security and social protection in 2023', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 17: The United Nations (UN) has warned that an impending global economic slowdown will force more workers into accepting lower quality, poorly-paid jobs which lack job security and social protection in 2023, while inflation gobbles up real-term wages.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The cost-of-living crisis due to sharp rise in prices compared to incomes will risk pushing more people into poverty, the UN's International Labour Organization (ILO) warned on Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the ILO, unemployment around the world is set to rise this year accentuating inequalities exacerbated by the COVID-19 crisis.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ILO said deficits in decent work had been worsened by multiple overlapping crises, including Russia-Ukraine war, emerging geopolitical tensions, an uneven recovery from the Covid-19 pandemic and continuing supply chain bottlenecks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ILO’s World Employment and Social Outlook: Trends 2023, also projects that global employment growth will be only 1.0 per cent in 2023, less than half the level in 2022. Global unemployment is slated to rise slightly in 2023, by around 3 million, to 208 million (corresponding to a global unemployment rate of 5.8 per cent). The moderate size of this projected increase is largely due to tight labour supply in high-income countries. This would mark a reversal of the decline in global unemployment seen between 2020-2022. It means that global unemployment will remain 16 million above the pre-crisis benchmark (set in 2019).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Together, these have created the conditions for stagflation -- simultaneously high inflation and low growth -- for the first time since the 1970s," the agency said in its annual World Employment and Social Outlook report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition to unemployment “job quality remains a key concern”, the report says, adding that “decent work is fundamental to social justice”. A decade of progress in poverty reduction faltered during the COVID-19 crisis. Despite a nascent recovery during 2021, the continuing shortage of better job opportunities is likely to worsen, the study says.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The current slowdown means that many workers will have to accept lower quality jobs, often at very low pay, sometimes with insufficient hours. Furthermore, as prices rise faster than nominal labour incomes, the cost-of-living crisis risks pushing more people into poverty. This trend comes on top of significant declines in income seen during the COVID-19 crisis, which in many countries affected low-income groups worst,” states the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, ILO director general Gilbert Houngbo said the recovery from the Covid-19 pandemic was particularly patchy in low- and middle-income countries, and was further hampered by climate change and humanitarian challenges.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Projections of a slowdown in economic and employment growth in 2023 imply that most countries will fall short of a full recovery to pre-pandemic levels in the foreseeable future," AFP quoted the former prime minister of Togo as saying in the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Worse still, progress in labour markets is likely to be far too slow to reduce the enormous decent work deficits that existed prior to, and were exacerbated by, the pandemic."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report also identifies a new, comprehensive measure of unmet need for employment – the global jobs gap. As well as those who are unemployed, this measure includes people who want employment but are not actively searching for a job, either because they are discouraged or because they have other obligations such as care responsibilities. The global jobs gap stood at 473 million in 2022, around 33 million above the level of 2019.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16504', 'image' => '20230117012751_ILO-main.jpg', 'article_date' => '2023-01-17 13:27:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16762', 'article_category_id' => '1', 'title' => ''Ensure Safety of Air Service' ', 'sub_title' => '', 'summary' => 'January 17: The Hotel Association Pokhara has urged the concerned stakeholders to ensure safety, reliability and smooth management of air service in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Hotel Association Pokhara has urged the concerned stakeholders to ensure safety, reliability and smooth management of air service in the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the wake of the Yeti Airlines plane crash in Pokhara, the association's Chairman Laxman Subedi issued a press statement on Monday and urged the Government of Nepal, Civil Aviation Authority of Nepal, and airlines companies to be serious in making air service safe and reliable in Nepal, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subedi also requested the government to intensify search and rescue works and launch relief schemes. According to RSS, Chairman Subedi expressed deep grief over the loss of lives in the accident and extended condolences to the bereaved family members. </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"">All 72 passengers on board the ill-fated aircraft with call sign 9N-ANC heading towards Pokhara from Kathmandu are feared dead after the plane fell into the Seti River gorge near Pokhara Airport on Sunday while making a final approach for landing.</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"">Rescuers have retrieved 70 bodies from the crash site as well as the black boxes with Cockpit Voice Recorder and Flight Data Recorder and handed them over to the CAAN.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government has formed a probe committee to investigate the accident, which according to CAAN is the worst air disaster in Nepal in the domestic segment in terms of human casualties.</span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16503', 'image' => '20230117122144_pokhara air.jpg', 'article_date' => '2023-01-17 12:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16761', 'article_category_id' => '1', 'title' => 'CAAN Carries Out Technical Tests of all ATR Aircraft operating in Nepal ', 'sub_title' => '', 'summary' => 'January 17: The Civil Aviation Authority of Nepal (CAAN) has undertaken technical tests of all ATR aircraft being used for domestic flights in Nepal after mounting public concerns following the Yeti Airlines plane crash in Pokhara on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Civil Aviation Authority of Nepal (CAAN) has undertaken technical tests of all ATR aircraft being used for domestic flights in Nepal after mounting public concerns following the Yeti Airlines plane crash in Pokhara on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday evening, CAAN Spokesperson Jagannath Niraula said that security inspectors from the regulatory body completed the task of undertaking comprehensive technical tests on all ATR-42 and ATR-72 planes being operated in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN has also informed that no technical faults were spotted in the aircraft during the tests. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN in its press release clarified that daily inspection of plane for airworthiness, pre-flight inspection and maintenance-related tasks have been found carried out as per the International Civil Aviation Organization (ICAO) standards and recommendations and the standards of aircraft manufacturing company. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16502', 'image' => '20230117112603_airraft.jpg', 'article_date' => '2023-01-17 11:25:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16760', 'article_category_id' => '1', 'title' => 'Yeti Airlines Plane Crash Deals Major Blow to Tourism Industry: TAAN ', 'sub_title' => '', 'summary' => 'Trekking Agencies’ Association of Nepal (TAAN) said the Yeti Airlines plane crash in Pokhara, the country’s tourist town on Sunday had dealt a powerful blow to Nepal’s aviation and tourism sectors. ', 'content' => '<p><br /> <span style="font-size:20px">January 17: Trekking Agencies’ Association of Nepal (TAAN) said the Yeti Airlines plane crash in Pokhara, the country’s tourist town on Sunday had dealt a powerful blow to Nepal’s aviation and tourism sectors. </span></p> <p><span style="font-size:20px">Issuing a press statement on Monday, TAAN General Secretary Binod Sapkota said the crash had caused an irreparable loss to the domestic tourism industry that was trying to revive from the COVID-19 pandemic and its repercussions. </span></p> <p><span style="font-size:20px">TAAN's press statement describes that flights at Pokhara Regional International Airport were recently launched and the crash at the country’s tourist town had dealt a major blow to the domestic tourism business in Nepal.</span></p> <p><span style="font-size:20px">TAAN President Nilhari Bastola demanded that government take appropriate measures to ensure Nepal’s sky and aviation service are safe. </span></p> <p><span style="font-size:20px">Bastola advised concerned government agencies to take measures for the prevention of such incidents in the future. </span></p> <p><span style="font-size:20px">The plane with the call sign 9N-ANC ATR-72-500 that had left Kathmandu for Pokhara carrying 72 people, including 68 passengers and four crew members, had crashed on the Seti River Gorge on January 15. </span></p> <p><span style="font-size:20px">Meanwhile, The Hotel Association Nepal (HAN) expressed its sorrow over the plane crash. "The Association and all other organisations under it are saddened by the incident. In this time of sorrow, we offer our condolences to all passengers and crew members killed in the tragedy, and to the bereaved families," reads a statement issued by the HAN. </span></p> <p><span style="font-size:20px">HAN said the tragic plane crash had caused negative impact not only on the country's aviation sector, but also the whole nation and tourism sector as it has spread the message at national and international levels that Nepal's sky is unsafe and risky. --RSS</span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16501', 'image' => '20230117055403_collage (61).jpg', 'article_date' => '2023-01-17 05:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><br /> <span style="font-size:18px">January 18: The Supreme Court (SC) has issued an interim order not to undertake cable car construction project or any other physical construction projects along the Sikles Annapurna Conservation Area in Kaski. </span></p> <p><span style="font-size:18px">A single bench of justice Til Prasad Shrestha issued the order to this effect, stating the matter required to be finalized only after discussing with both parties due to its gravity and sensitivity. </span></p> <p><span style="font-size:18px">In response to a writ petition filed by advocate Padam Bahadur Shrestha, the order was issued in accordance with the Supreme Court Regulations, 2074.</span></p> <p><span style="font-size:18px"> The writ petition has made the Office of the Prime Minister and Council of Ministers, and the Ministry of Forest and Environment the defendants.</span></p> <p><span style="font-size:18px">The writ petition is seeking the Apex Court to annul the government decision to endorse project’s environmental impact assessment report and other government decisions and documents in this regard through the issuance of mandamus. </span></p> <p><span style="font-size:18px">Sikles Annapurna Cable Car Pvt Ltd is planning to build a cable car system in Sikles of Madi Rural Municipality, Kaski. The Sikles Cable car project will cover a distance of 6.5 kilometers. The project is estimated to cost Rs 7 billion. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16516', 'image' => '20230118052755_collage (65).jpg', 'article_date' => '2023-01-18 17:24:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '16773', 'article_category_id' => '1', 'title' => 'Nepal Exports Broom Grass worth Rs 2.5 Billion in 5 Years', 'sub_title' => '', 'summary' => 'January 18: Nepal exported Amriso or Tiger grass (commonly known as broom grass) worth Rs 2.5 billion in the last five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 18: Nepal exported Amriso or Tiger grass (commonly known as broom grass) worth Rs 2.5 billion in the last five years. According to the data of the Department of Customs, broom grass, which is mainly used to make brooms, is exported from Nepal to various Asian countries including India and Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first five months of the current fiscal year, Nepal exported more than 4,265,000 kilograms of broom grass worth Rs 213 million, which is 10 percent more compared to the same period of last year. Last year, Nepal exported more than 3,892,000 kilograms of broom grass worth Rs 192 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><strong>Where is broom grass cultivated in Nepal?</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is mostly found in central and eastern parts of Nepal. It is also one of the main sources of income for farmers in Taplejung, Ilam, Panchthar, Tehrathum, Dhankuta and other districts. Razia Banu, who is involved in the business of broom grass, told New Business Age that the grass is exported to India and Bangladesh in addition to various cities within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the price of one kg of broom grass ranges from Rs 150 to Rs 200, which can make up to two brooms. She said that the ready-made brooms are sold between Rs 100 and Rs 120.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to Banu, 90 percent of broom grass produced in Nepal is exported to India.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is cultivated by many people to prevent landslides. As it provides good income along with the prevention of landslides, farmers are cultivating broom grass on the banks of rivers where there is no scope for other crops.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Broom grass is used in making paper, and the dust is used in biogas. Banu said that the local government has been encouraging the commercial farming of broom grass lately. Speaking from her experience, Banu said broom grass does not need application of fertilizers time and again after putting it once. The same plant will produce for 15 to 20 years and it does not need much care and maintenance.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16514', 'image' => '20230118030543_broom grass.jpg', 'article_date' => '2023-01-18 15:05:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16772', 'article_category_id' => '1', 'title' => 'Biratnagar Mayor Tells City Police to Confiscate Goods Kept Outside Shutters', 'sub_title' => '', 'summary' => 'January 18: Biratnagar Metropolitan City’s Mayor Nagesh Koirala has instructed the metropolitan police to confiscate goods placed outside the shutters of the shops in the city.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 18: Biratnagar Metropolitan City’s Mayor Nagesh Koirala has instructed the metropolitan police to confiscate goods placed outside the shutters of the shops in the city. The metropolis, which has initiated a campaign to make Biratnagar clean, beautiful and orderly, has intensified the works of cleaning the city and managing traffic and parking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A team led by Mayor Koirala conducted an on-site monitoring of the condition of parking areas and footpaths on January 16. During the monitoring, the team found that goods were kept outside the shutters of the shops. Koirala has instructed the metropolitan police to take goods kept outside the shutters under control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The city has repeatedly published public notices and asked people not to keep things outside the shutters," he said, adding, “You can't complain about that.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> He also urged everyone to help the metropolis because it is the responsibility of all the citizens of Biratnagar to organize it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Mayor Koirala along with Deputy Mayor Shilpa Nirala Karki, Transport Management Committee Coordinator Tirthendra Neupane, head of the Revenue Division Saroj Gautam, Metropolitan Police Chief Rajan Paudel, District Traffic Police Office Morang’s Chief Raj Kumar Karki and other officials were involved in the monitoring.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first phase, the metropolis has already declared a no-parking zone from Jaljalachowk to Koshi Hospital Chowk. The parking management of that area is done in front of Jaljala Hall. The team also inspected the parking lot under construction at Mahaveer Road North and Old Gudri. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16513', 'image' => '20230118021031_101658636_2655100374726359_4593699279507292160_n.jpg', 'article_date' => '2023-01-18 14:09:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16771', 'article_category_id' => '1', 'title' => 'PM Dahal Expands Cabinet', 'sub_title' => '', 'summary' => 'January 18: Prime Minister Pushpa Kamal Dahal on Tuesday expanded the Council of Ministers, inducting 12 new ministers in the cabinet.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 18: Prime Minister Pushpa Kamal Dahal on Tuesday expanded the Council of Ministers, inducting 12 new ministers in the cabinet. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dahal also inducted three state ministers from the parties that backed him as the prime minister. However, Janata Samajbadi Party and Nagarik Unmukti Party, which supported Dahal’s bid to become the prime minister, opted to stay out of the government.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Council of Ministers now has 23 ministers, including four deputy prime ministers (DPM) and three state ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The newly-appointed DPMs, ministers and state ministers are from </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (Maoist Centre), CPN-UML, Rastriya Prajatantra Party, Rastriya Swatantra Party and Janamat Party.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">President Bidhya Devi Bhandari administered the oath of office and secrecy to the cabinet ministers amid a function at Shital Niwas on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The prime minister has kept two ministerial portfolios including the Ministry of Youth and Sports and the Ministry of Forest and Environment with himself in order to hand over those ministries to other coalition partners. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The cabinet has eight ministers from UML, six from Maoist Centre, four each from RSP and RPP and one from Janamat Party.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the constitution, the cabinet cannot have more than 25 ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">The members of the Council of Ministers is as follows:</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Puspa Kamal Dahal: PM, Minister for Forests and Environment and Minister for Youth and Sports</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bishnu Paudel: DPM and Minister for Finance</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Narayan Kaji Shrestha: DPM and Minister for Physical Infrastructure and Transport</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rabi Lamichhane: DPM and Minister for Home Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rajendra Lingden: DPM and Minister for Energy, Water Resources and Irrigation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rekha sharma: Minister for Communications and Information Technology</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bikram Pandey: Minister for Urban Development</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Jwala Kumari Shah: Minister for Agriculture and Livestock Development</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Damodar Bhandari: Minister for Industry, Commerce and Supplies</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Rajendra Rai: Minister for Land Management, Cooperatives and Poverty Alleviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Abdul Khan: Minister for Water Supply</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Bimala Rai Paudyal: Minister for Foreign Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Padam Giri: Minister for Health and Population</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bhagawati Chaudhari: Minister for Women, Children and Senior Citizens</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Hari Prasad Upreti: Minister for Defence</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sudan Kirati: Minister for Culture, Tourism and Civil Aviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Aman lal Modi: Minister for Federal Affairs and General Administration</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shishir Khanal: Minister for Education, Science and Technology</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dol Prasad Aryal: Minister for Labor, Employment and Social Security</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dhruba Pradhan: Minister for Law, Justice and Parliamentary Affairs</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sushila Sirpali Thakuri: State Minister for Culture, Tourism and Civil Aviation</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Toshima Karki: State Minister for Health and Population</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Deepak Singh: State Minister for Energy, Water Resources and Irrigation</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Re</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16512', 'image' => '20230118122436_PRO_KTM-6F8A0052.jpg', 'article_date' => '2023-01-18 12:23:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16770', 'article_category_id' => '1', 'title' => 'NRB Tells Infrastructure Development Banks to Submit Details on SIS Portal ', 'sub_title' => '', 'summary' => 'January 18: Nepal Rastra Bank (NRB) has revised the Unified Directives to Infrastructure Development Banks, 2078 BS making it mandatory for infrastructure development banks to enter the details of their daily liquidity situation and inter-bank transactions in the Supervisory Information System (SIS) of NRB. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 18: Nepal Rastra Bank (NRB) has revised the Unified Directives to Infrastructure Development Banks, 2078 BS making it mandatory for infrastructure development banks to enter the details of their daily liquidity situation and inter-bank transactions in the Supervisory Information System (SIS) of NRB. </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"">Issuing a circular on Tuesday, the central bank instructed the authorized infrastructure banks to follow the new rules issued in line with Section 79 of the Nepal Rastra Bank Act, 2058.</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 banks must now submit the liquidity statement through the SIS by 12 noon of the next working day and the statement of inter-bank transactions upon completion of the transaction. NRB has also instructed such banks to enter the details of the returns and ad hoc data in the system within June 16 later this year.</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 infrastructure development banks must also submit the details of interest rates of deposits and loans through the same system within seven days of amendment of the interest rates. </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"">As per the new provisions, the licensed infrastructure development banks will also have to update the details including primary information, details of committee, ownership details, subsidiary/associates details, details of board of directors, details of auditors name, details of management team name, details of chief executive officer (CEO) name, details of compliance and reporting officer name, annual general meeting report and resolution and policies and procedures within seven days of change.</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"">Nepal Infrastructure Development Bank is the one and only infrastructure development bank in the country so far.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16511', 'image' => '20230118115453_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-01-18 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16769', 'article_category_id' => '1', 'title' => 'China Warns of 'Spillover' from Western Rate Hikes', 'sub_title' => '', 'summary' => 'January 18: China's Vice Premier Liu He has warned about the impact of "spillover effects" of Western interest rate hikes on emerging economies.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 18: China's Vice Premier Liu He has warned about the impact of "spillover effects" of Western interest rate hikes on emerging economies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to AFP, Liu drew the attention of world leaders during the World Economic Forum in Davos, Switzerland on Tuesday about the spillover effects of major countries' rate hikes on emerging market and developing countries so as not to add to more debt or financial risks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The news agency added that the US Federal Reserve has hiked its benchmark lending rate at a pace unheard of since the 1980s over the last year to tame soaring inflation, while the European Central Bank has also raised borrowing costs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US moves have strengthened the value of the dollar, raising the cost of borrowing for countries with debt priced in greenbacks. They also encourage capital flight from emerging countries and dampen economic growth there, AFP added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Liu also called for an end "to Cold War mentality" as he spoke in favour of more global cooperation amid soaring tensions between Washington and Beijing over economic policy as well as Taiwan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We need to uphold the right principles and uphold the effective international economic order. We have to abandon the Cold War mentality," AFP quoted him as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">China's export-oriented economy is seen as being particularly threatened by changes to the global trading system, with the United States in particular looking to shore up its domestic industry and limit trade with Beijing in key strategic sectors, according to AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The concerns raised by the Chinese vice premier is also relevant in the context of Nepal as the country is forced to pay an additional amount of public debt of Rs 5.52 billion in the first quarter of the current fiscal year because of the change in foreign exchange rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accumulated public debt of the Government of Nepal stands at Rs 2007.84 billion in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a report published by the Public Debt Management Office of the Government of Nepal, the country’s outstanding foreign debt in the first quarter of the current fiscal year is Rs 1050.23 billion while the internal debt is Rs 957.61 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Comparing this figure with the data of mid-July, the country’s external debt has increased by Rs 24.38 billion while the internal debt has declined by Rs 29.83 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s Gross Domestic Product (GDP) at present is Rs 4851.62 billion. Compared to the GDP, Nepal’s public debt stands at 41.38 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16510', 'image' => '20230118105740_Untitled.jpg', 'article_date' => '2023-01-18 10:56:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16768', 'article_category_id' => '1', 'title' => 'Sanima Middle Tamor Hydropower Limited Opens IPO to Project-affected Locals and Migrant Workers ', 'sub_title' => '', 'summary' => 'Sanima Middle Tamor Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Taplejung district and Nepali citizens working in foreign countries from Wednesday. ', 'content' => '<p><span style="font-size:18px">January 18: Sanima Middle Tamor Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Taplejung district and Nepali citizens working in foreign countries from Wednesday. </span></p> <p><span style="font-size:18px">Out of the total issued capital of Rs 3,33,25,00000, the hydropower is issuing 10 per cent share of the share, i.e. 33,32,500 units of shares to the project-affected locals of Taplejung district at the face value of Rs 100 per unit of share. </span></p> <p><span style="font-size:18px">Of the total units of shares issued to the locals, as many as 13,33,000 units of shares are being issued to highly-affected residents of wards no 1,2,9 and 10 of Fungling Municipality, ward no 1 of Faktanlung Rural Municipality, wards no 1 and 2 of Bhikwakhola Rural Municipality, ward no 5 of Triveni Rural Municipality and ward no 1 of Maiwa Khola Rural Municipality. </span></p> <p><span style="font-size:18px">Remaining 19, 99,500 units of shares are being issued to locals of Taplejung district.</span></p> <p><span style="font-size:18px">The company is issuing as many as 4,99,875 units of shares, which is 10 per cent of the total 49,98,750 units of shares worth Rs 49,98,75000 separated for the general public, to the Nepali citizens working in foreign countries with labour permission received from the Labour Department in Nepal. </span></p> <p><span style="font-size:18px">One can apply for a minimum of 10 shares, while the maximum unit of shares they can purchase is 20,000 at a face value of Rs 100. </span></p> <p><span style="font-size:18px">The closing date of the IPO is February 1, 2023 for both migrant workers and project-affected locals of Taplejung. If the IPO goes under-subscribed issued for the locals, the deadline will be extended until February 16 , 2023. <br /> </span></p> <p><span style="font-size:18px">Migrant workers can apply for the IPO through Mero Share, while project-affected locals can visit company’s office at Dhumbarahi, Kathmandu, project site in Taplejung, and branch offices of Sanima Bank, Global IMe Bank, Laxmi Bank, and Sunrise Bank in Taplejung to apply for the IPO.</span></p> <p><span style="font-size:18px">Sanima Middle Tamor Hydropower Company is constructing Middle Tamor Tamor Hydro Power Project of 73 megawatt in Taplejung. </span><br /> </p> ', 'published' => true, 'created' => '2023-01-18', 'modified' => '2023-01-18', 'keywords' => '', 'description' => '', 'sortorder' => '16509', 'image' => '20230118061907_collage (64).jpg', 'article_date' => '2023-01-18 06:12:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '16767', 'article_category_id' => '1', 'title' => 'Himalaya Airlines Resumes Kathmandu-Beijing Flights', 'sub_title' => '', 'summary' => 'January 17: The Himalaya Airlines has resumed its direct scheduled flights from Kathmandu to Beijing, the capital of the People's Republic of China from January 17. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Himalaya Airlines has resumed its direct scheduled flights from Kathmandu to Beijing, the capital of the People's Republic of China from January 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Premnath Thakur, general manager of TIA, shared that the flight, first since the suspension of flights during COVID-19 pandemic in 2020, departed from the Tribhuvan International Airport at 10:41 am and landed at Beijing’s Daxing International Airport. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flight to China resumed after the northern neighbour withdrew travel restrictions on January 8 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many international airlines have begun operating flights to the Chinese capital city after a hiatus of nearly two years. The Himalayan Airlines, a Nepal-China joint venture company, is one among them, the airlines said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China also recently announced a new 144-hour visa-free transit policy which allows travelers to enjoy up to six days of stay in designated territories of China such as Beijing, Tianjin and Hebei. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Against this backdrop, the airlines will be operating one flight week to and from Beijing’s Daxing International Airport, the newest international airport in Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">China had put a halt on all international flights on its soil since March 1, 2020 after the outbreak of the COVID-19 pandemic. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-02-17', 'keywords' => '', 'description' => '', 'sortorder' => '16508', 'image' => '20230119051928_Himalaya Airlines 2.jpg', 'article_date' => '2023-01-17 20:10:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16766', 'article_category_id' => '222', 'title' => 'Nepal Insurance Authority gives nod to merger agreement of United and Ajod Insurance ', 'sub_title' => '', 'summary' => 'Nepal Insurance Authority has given its green light to a merger agreement signed by Ajod Insurance Limited and United Insurance Limited. ', 'content' => '<p><br /> <br /> <span style="font-size:20px">January 17: Nepal Insurance Authority has given its green light to a merger agreement signed by Ajod Insurance Limited and United Insurance Limited. </span></p> <p><span style="font-size:20px">Issuing a letter on January 13, insurance authority has given its nod to the two insurance companies to go into a merger. </span></p> <p><span style="font-size:20px">United Insurance Limited and Ajod Insurance Limited had signed the merger agreement on January 10. Both entities have agreed to prepare swap ration based on the Due Diligence (DDA) report. </span></p> <p><span style="font-size:20px">Earlier, Ajod Insurance and Prabhu Insurance had inked a memorandum of understanding (MoU) for a merger. However, the merger process was aborted after they could not agree on the name of the merged entity and swap ratio. </span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16507', 'image' => '20230117053612_collage (63).jpg', 'article_date' => '2023-01-17 17:32:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '16765', 'article_category_id' => '1', 'title' => 'Sales of EVs Increasing in Nepal', 'sub_title' => '', 'summary' => 'January 17: The general public’s attraction towards electric vehicles (EVs) has increased in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 17: The general public’s attraction towards electric vehicles (EVs) has increased in Nepal. The sales ratio of EV and petroleum vehicles was 50/50 between April 2021 to December 2022, shares Ajit Narayan Singh, sales manager of Tata Motors. He claimed that 80 per cent of the sold EVs were Tata Motors vehicles.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The turnover of the automobile sector has dropped significantly due to the import ban, the economic situation of the country, the liquidity crisis and the policy adopted by the Nepal Rastra Bank. According to Singh, the sales of all vehicles have decreased by 70 per cent compared to the previous fiscal years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Singh said that although the total volume of vehicle sales has decreased, the sales of EVs have increased by 50 per cent. He credited the government for the increase in sales of EV. He added, “After the government reduced the tax in July 2021, the EV sector was boomed. Soon after, the sales volume increased and the market situation improved. If there was no problem with liquidity, the situation would have been different.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Singh, his customers say that EVs are cheaper to buy and more comfortable to drive than petrol/diesel vehicles. He added that in a survey conducted by the company, customers said that they would not buy cars run by fossil fuel anymore. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Both men and women had the same reaction," said Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">EV users claim that its maintenance costs are three times cheaper than that of the internal combustion engine (ICE) vehicles. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Running vehicles on fuel costs an average of Rs 14 per kilometer but an EV travels 200 kilometres for just Rs 300. That means the cost of covering one kilometer is Rs 1.5.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Singh said that if the government has a positive attitude towards this sector, 50 to 60 per cent of the total sales of four-wheelers will be that of EVs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal is importing petroleum products in large quantities. A large amount of foreign currency is being spent on this. On the other hand, there is a situation where the electricity produced in Nepal is not consumed during the rainy season and is wasted.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He said that the government should further promote EVs to increase the internal consumption of electricity as the production is projected to rise in the near future.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">For this, he said, the government should provide subsidies for EVs, subsidies for houses, subsidies for charging stations, and free parking for EVs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The price of EVs is expensive in the international market. However, experts said that with the development of technology, its price may drop drastically.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A few months ago, the Nepal government banned the import of luxury items including ICE cars for private use. Now the ban has been lifted. Although the import of vehicles has been opened, the sale of the automobile sector has not improved.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16506', 'image' => '20230117053450_electric-car.jpg', 'article_date' => '2023-01-17 17:34:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16764', 'article_category_id' => '1', 'title' => 'Interest on Home Loans of Commercial Banks Climbs above 9 Percent', 'sub_title' => '', 'summary' => 'January 17: The interest rate of home loans provided by commercial banks to the general public for building and buying houses has reached more than 9 percent per annum.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 17: The interest rate of home loans provided by commercial banks to the general public for building and buying houses has reached more than 9 percent per annum. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The banks had increased the interest rate to collect deposits amid liquidity crisis which resulted in an increase in base rate and the interest on loans.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The interest rate published by commercial banks from mid-January to mid-February shows that the annual interest on home loan has been maintained between 9 to 15.50 percent. Nepal Bank Limited is the one that offers the cheapest interest rate on home loans. Banks set the interest rate by adding a premium to the base rate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB, the banks have been publishing the interest rates that are fixed and subject to change on the basis of the base rate for various schemes. Under the fixed interest rate plan, the same interest rate is maintained throughout the loan period. In the interest rate taken on the basis of the base rate, the interest rate increases every quarter when the base rate increases and decreases when it decreases. The premium that banks add to the base rate is fixed at the time of loan approval and cannot be changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Agriculture Development Bank Limited has been providing home loans at a minimum fixed interest rate of 8.95 percent. Similarly, Laxmi Bank and NIC Asia Bank have set the highest interest rate of up to 15.99 percent under the fixed interest rate for home loan scheme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Most of the banks have said that a premium of up to 6 percent will be added to the loan plans that change based on the base rate. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Out of the 22 commercial banks that are currently operating, 15 have announced a premium of up to 6 percent for home loans. Nepal Bank is giving home loan at the lowest minimum premium of 1 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB regarding interest rates, banks should publish the interest rate applicable every month on the last day of the previous month. Banks should mention both variable and fixed interest rates on loans of periodic nature while publishing interest rates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a fixed interest rate scheme, the banks cannot change the interest rate fixed throughout the loan period. However, on the basis of a written agreement with the customer, there is a provision to change the interest rate for the first time in 7 years of loan disbursement and thereafter every 5 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, in the variable interest rate loan plan, there is a provision for banks and financial institutions to set the base rate by adding 0.75 percent profit to the cost of their capital and to determine the interest rate by adding a certain percentage premium to it. Every quarter, when the average base rate of the bank decreases, the interest rate on loan automatically decreases and when it increases, the premium rate cannot be changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the directive, the banks should clearly mention the premium rate to be added to the base rate in the 'offer letter' of the loan given to the borrower. For such premium loans, there is a provision that the premium rate cannot be set higher than the published premium rate at the time of receiving the application. There is a provision that banks should publish the premium rate for loans along with the interest rate on deposits for the next month at the end of every month.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16505', 'image' => '20230117023053_Real estate.jpg', 'article_date' => '2023-01-17 14:30:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16763', 'article_category_id' => '1', 'title' => 'Global Economic Slowdown will Force Workers into Poorly-Paid Jobs in 2023: ILO', 'sub_title' => '', 'summary' => 'January 17: The United Nations (UN) has warned that an impending global economic slowdown will force more workers into accepting lower quality, poorly-paid jobs which lack job security and social protection in 2023', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">January 17: The United Nations (UN) has warned that an impending global economic slowdown will force more workers into accepting lower quality, poorly-paid jobs which lack job security and social protection in 2023, while inflation gobbles up real-term wages.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The cost-of-living crisis due to sharp rise in prices compared to incomes will risk pushing more people into poverty, the UN's International Labour Organization (ILO) warned on Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the ILO, unemployment around the world is set to rise this year accentuating inequalities exacerbated by the COVID-19 crisis.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ILO said deficits in decent work had been worsened by multiple overlapping crises, including Russia-Ukraine war, emerging geopolitical tensions, an uneven recovery from the Covid-19 pandemic and continuing supply chain bottlenecks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The ILO’s World Employment and Social Outlook: Trends 2023, also projects that global employment growth will be only 1.0 per cent in 2023, less than half the level in 2022. Global unemployment is slated to rise slightly in 2023, by around 3 million, to 208 million (corresponding to a global unemployment rate of 5.8 per cent). The moderate size of this projected increase is largely due to tight labour supply in high-income countries. This would mark a reversal of the decline in global unemployment seen between 2020-2022. It means that global unemployment will remain 16 million above the pre-crisis benchmark (set in 2019).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Together, these have created the conditions for stagflation -- simultaneously high inflation and low growth -- for the first time since the 1970s," the agency said in its annual World Employment and Social Outlook report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition to unemployment “job quality remains a key concern”, the report says, adding that “decent work is fundamental to social justice”. A decade of progress in poverty reduction faltered during the COVID-19 crisis. Despite a nascent recovery during 2021, the continuing shortage of better job opportunities is likely to worsen, the study says.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The current slowdown means that many workers will have to accept lower quality jobs, often at very low pay, sometimes with insufficient hours. Furthermore, as prices rise faster than nominal labour incomes, the cost-of-living crisis risks pushing more people into poverty. This trend comes on top of significant declines in income seen during the COVID-19 crisis, which in many countries affected low-income groups worst,” states the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, ILO director general Gilbert Houngbo said the recovery from the Covid-19 pandemic was particularly patchy in low- and middle-income countries, and was further hampered by climate change and humanitarian challenges.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Projections of a slowdown in economic and employment growth in 2023 imply that most countries will fall short of a full recovery to pre-pandemic levels in the foreseeable future," AFP quoted the former prime minister of Togo as saying in the report.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Worse still, progress in labour markets is likely to be far too slow to reduce the enormous decent work deficits that existed prior to, and were exacerbated by, the pandemic."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report also identifies a new, comprehensive measure of unmet need for employment – the global jobs gap. As well as those who are unemployed, this measure includes people who want employment but are not actively searching for a job, either because they are discouraged or because they have other obligations such as care responsibilities. The global jobs gap stood at 473 million in 2022, around 33 million above the level of 2019.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16504', 'image' => '20230117012751_ILO-main.jpg', 'article_date' => '2023-01-17 13:27:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16762', 'article_category_id' => '1', 'title' => ''Ensure Safety of Air Service' ', 'sub_title' => '', 'summary' => 'January 17: The Hotel Association Pokhara has urged the concerned stakeholders to ensure safety, reliability and smooth management of air service in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Hotel Association Pokhara has urged the concerned stakeholders to ensure safety, reliability and smooth management of air service in the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In the wake of the Yeti Airlines plane crash in Pokhara, the association's Chairman Laxman Subedi issued a press statement on Monday and urged the Government of Nepal, Civil Aviation Authority of Nepal, and airlines companies to be serious in making air service safe and reliable in Nepal, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subedi also requested the government to intensify search and rescue works and launch relief schemes. According to RSS, Chairman Subedi expressed deep grief over the loss of lives in the accident and extended condolences to the bereaved family members. </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"">All 72 passengers on board the ill-fated aircraft with call sign 9N-ANC heading towards Pokhara from Kathmandu are feared dead after the plane fell into the Seti River gorge near Pokhara Airport on Sunday while making a final approach for landing.</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"">Rescuers have retrieved 70 bodies from the crash site as well as the black boxes with Cockpit Voice Recorder and Flight Data Recorder and handed them over to the CAAN.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government has formed a probe committee to investigate the accident, which according to CAAN is the worst air disaster in Nepal in the domestic segment in terms of human casualties.</span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16503', 'image' => '20230117122144_pokhara air.jpg', 'article_date' => '2023-01-17 12:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16761', 'article_category_id' => '1', 'title' => 'CAAN Carries Out Technical Tests of all ATR Aircraft operating in Nepal ', 'sub_title' => '', 'summary' => 'January 17: The Civil Aviation Authority of Nepal (CAAN) has undertaken technical tests of all ATR aircraft being used for domestic flights in Nepal after mounting public concerns following the Yeti Airlines plane crash in Pokhara on Sunday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 17: The Civil Aviation Authority of Nepal (CAAN) has undertaken technical tests of all ATR aircraft being used for domestic flights in Nepal after mounting public concerns following the Yeti Airlines plane crash in Pokhara on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday evening, CAAN Spokesperson Jagannath Niraula said that security inspectors from the regulatory body completed the task of undertaking comprehensive technical tests on all ATR-42 and ATR-72 planes being operated in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN has also informed that no technical faults were spotted in the aircraft during the tests. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN in its press release clarified that daily inspection of plane for airworthiness, pre-flight inspection and maintenance-related tasks have been found carried out as per the International Civil Aviation Organization (ICAO) standards and recommendations and the standards of aircraft manufacturing company. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16502', 'image' => '20230117112603_airraft.jpg', 'article_date' => '2023-01-17 11:25:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16760', 'article_category_id' => '1', 'title' => 'Yeti Airlines Plane Crash Deals Major Blow to Tourism Industry: TAAN ', 'sub_title' => '', 'summary' => 'Trekking Agencies’ Association of Nepal (TAAN) said the Yeti Airlines plane crash in Pokhara, the country’s tourist town on Sunday had dealt a powerful blow to Nepal’s aviation and tourism sectors. ', 'content' => '<p><br /> <span style="font-size:20px">January 17: Trekking Agencies’ Association of Nepal (TAAN) said the Yeti Airlines plane crash in Pokhara, the country’s tourist town on Sunday had dealt a powerful blow to Nepal’s aviation and tourism sectors. </span></p> <p><span style="font-size:20px">Issuing a press statement on Monday, TAAN General Secretary Binod Sapkota said the crash had caused an irreparable loss to the domestic tourism industry that was trying to revive from the COVID-19 pandemic and its repercussions. </span></p> <p><span style="font-size:20px">TAAN's press statement describes that flights at Pokhara Regional International Airport were recently launched and the crash at the country’s tourist town had dealt a major blow to the domestic tourism business in Nepal.</span></p> <p><span style="font-size:20px">TAAN President Nilhari Bastola demanded that government take appropriate measures to ensure Nepal’s sky and aviation service are safe. </span></p> <p><span style="font-size:20px">Bastola advised concerned government agencies to take measures for the prevention of such incidents in the future. </span></p> <p><span style="font-size:20px">The plane with the call sign 9N-ANC ATR-72-500 that had left Kathmandu for Pokhara carrying 72 people, including 68 passengers and four crew members, had crashed on the Seti River Gorge on January 15. </span></p> <p><span style="font-size:20px">Meanwhile, The Hotel Association Nepal (HAN) expressed its sorrow over the plane crash. "The Association and all other organisations under it are saddened by the incident. In this time of sorrow, we offer our condolences to all passengers and crew members killed in the tragedy, and to the bereaved families," reads a statement issued by the HAN. </span></p> <p><span style="font-size:20px">HAN said the tragic plane crash had caused negative impact not only on the country's aviation sector, but also the whole nation and tourism sector as it has spread the message at national and international levels that Nepal's sky is unsafe and risky. --RSS</span></p> ', 'published' => true, 'created' => '2023-01-17', 'modified' => '2023-01-17', 'keywords' => '', 'description' => '', 'sortorder' => '16501', 'image' => '20230117055403_collage (61).jpg', 'article_date' => '2023-01-17 05:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
