December 22: Nepal’s Ministry of Labour, Employment and Social Security in collaboration with the International Organization for Migration (IOM), the International Labour Organization (ILO), and Safer Migration Programme (SaMI) jointly launched the ‘Nepal Labour Migration Report 2022’ on International Migrants Day on December…
December 22: In today's fast-paced globalized business world, most organizations are struggling to stay afloat and keep up with their…
December 22: From now on, all night buses leaving the Kathmandu Valley with passengers for their destinations have to be parked and get off from the New Bus Park in Gongabu.…
December 22: The Department of Transport Management has issued directives to the concerned authorities to ensure that the government-owned vehicles have embossed registration number plates installed by mid-March…
December 22: Industrialists and businessmen of eastern Nepal have been protesting against the government’s decision ever since it announced the budget for the current fiscal year.…
December 22: Regular flights were disrupted for some hours at the Tribhuwan International Airport (TIA) due to foggy weather in the Kathmandu Valley since early morning on…
December 22: The Supreme Court (SC) has issued an order to release serial kicker Charles Sobhraj Gurumukh considering his age and send him back to his country within two…
December 21: A cooperative which was closed for three months without refunding the depositors’ money has started operation again.…
December 21: Nepal Electricity Authority (NEA) is planning to remove unsystematic cables placed along the Tripureshwar-Budhanilkantha…
December 21: Nepal exported carpets to 69 countries in the fiscal year 2021/22.…
December 21: It was widely anticipated that the development and construction works would speed up after the general election.…
December 21: Bollywood actor Vivek Oberoi, who arrived in Nepal last Wednesday, visited the Annapurna Cable Car with is family earlier this…
December 21: The deposits of commercial banks increased by 57.22 billion from mid-November to mid-December.…
December 20: Nepal Electricity Authority (NEA) has exported 1,357,757,000 units of electricity to…
December 20: Nepal Insurance Authority has changed the investment guidelines for insurance…
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Despite this progress, Nepali migrant workers’ health and safety issues as well as cases of fraud, abuse and exploitation continue to occur in unignorable numbers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report stresses the importance of ‘informed migration’, awareness, sensitization, and the need for implementing country specific pre-departure orientation as well as post-arrival orientation for migrants. Similarly, the report appeals to support the government’s efforts to ensure fair and ethical recruitment, including the implementation of the ‘employer pays’ principle, which means the costs of recruitment should be borne by the employer not by the worker. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Labour Migration has been a common livelihood strategy for Nepalese households over the recent decades. According to the World Bank, remittances contributed 24 percent of the country’s GDP in the year 2021. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing the event in capacity of the Chief Guest, Minister for Labour, Employment and Social Security Sher Bahadur Kunwar extended his best wishes to all the migrants on the occasion of the International Migrants Day, and wished for an environment where all labour migrants can be proud of their work and be able to be united for their rights.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The report will be a useful resource for everyone for it has covered every aspect of migration including its shifting dynamics,” said Minister Kunwar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I am glad that we have been able to continue to join hands with the government and other key stakeholders in presenting such report covering every aspects of the labour migration sector in Nepal , which I believe will eventually contribute to strengthening labour migration governance and ensuring safe, orderly and dignified labour migration in Nepal, envisioned by the Sustainable Development Goals and the Global Compact for Migration (GCM),” said Lorena Lando, IOM Nepal Chief of Mission . </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IOM, the ILO and Sami had supported the government in developing the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives from various other government agencies, civil society, development partners, academia, researchers, the United Nations, and other national and international organizations were among the attendees of the event. </span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">***</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16325', 'image' => '20221222063608_IMG_2331.jpg', 'article_date' => '2022-12-22 18:35:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16583', 'article_category_id' => '266', 'title' => 'NIBL Ace Capital- One Stop Solution for Investors and Investee ', 'sub_title' => '', 'summary' => 'December 22: In today's fast-paced globalized business world, most organizations are struggling to stay afloat and keep up with their competitors.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 22: In today's fast-paced globalized business world, most organizations are struggling to stay afloat and keep up with their competitors. Businesses and organizations must constantly change and transform in order to remain competitive and relevant in today's complex and changing global environment. To deal with the complexities of the business world, corporate advisory and consulting service came into existence.</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 context of Nepal, institutions registered under the prevailing laws have been providing corporate advisory services. But now with regulatory reforms, SEBON has opened doors for corporate advisory service by providing license to eligible merchant bankers for providing corporate advisory services. This indeed has added merchant bankers’ business avenues. In the earlier stages, majority of the merchant bankers were focused in providing mainly RTA/RTS and issue management services. Recently, advisory services have become a major domain of work for merchant bankers.</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"">Merchant bankers being the main connecting link between capital market and corporate world, advisory service has added more scope of work to merchant bankers to facilitate corporate world in corporate issues and bringing them to capital market in terms of capital funding, merger and acquisition, financial projection, valuations, escrow agency, loan syndication, capital structuring and making IPO compliant to tap the capital market by floating shares to public.</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"">Besides that, corporate advisory service has been facilitating the companies in capital funding who have been refrained from financial access due to lack of collateral, debt equity ratio mismatch and unjustifiable financial statement due to the nature of business. In initial days, corporate advisory used to connect investors to investee for filling these funding gaps, but now with introduction of Specialized Investment Fund Regulations 2075, SEBON has opened doors for private equity funds as a new financing source for prospective business that are restricted to financial access due to regulatory restrictions. In this regard, NIBL Ace Capital has obtained Specialized Investment Fund Manager License from SEBON and is in process of registering PE fund – probably the largest licensed PE fund from SEBON for financing the projects that have limited financial access and have potential of contributing to the growth of economy. </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"">Specialized Investment Fund Manager License has not only opened doors for prospective investee companies but also to the prospective investors who are seeking to make investment in unlisted companies and prospective projects where detailed investment analysis is required in pre investment phase and efficient portfolio management in post investment phase with proper exit strategy. This has created a one stop solution to the investee side where they can avail consultancy to investment service and deal assessment to fund management service on the investors’ side.</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 nutshell, the business dynamics are no longer limited to IPO-related merchant banking services, but the services have widened from consultancy to investment funding to the institutions project assessment to project management.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16324', 'image' => '20230106044248_collage (32).jpg', 'article_date' => '2022-12-22 18:23:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16582', 'article_category_id' => '1', 'title' => 'Night Buses Leaving Kathmandu Valley have to Set Off only from Gongabu Bus Park ', 'sub_title' => '', 'summary' => 'December 22: From now on, all night buses leaving the Kathmandu Valley with passengers for their destinations have to be parked and get off from the New Bus Park in Gongabu. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: From now on, all night buses leaving the Kathmandu Valley with passengers for their destinations have to be parked and get off from the New Bus Park in Gongabu. The move is aimed at reducing road accidents and traffic jams, said Senior Superintendent of Police Rajendra Prasad Bhatta, spokesperson for the Kathmandu Valley Traffic Police Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, night buses leaving the Valley would depart from various places of the Valley including Chabahil, Gaushala, Koteshwar, Kalanki, Gongabu and Machhapokhari. Rampant parking of the buses elsewhere caused traffic jams and road accidents, said SSP Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Night passenger vehicles leaving from the Valley from various parts have caused traffic congestion. So, this new arrangement has been made," he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President of the Federation of Nepalese National Transport Entrepreneurs, Bijaya Bahadur Swar stressed the need for the transport sector to provide service to people in an easy and accessible way. “Arrangements should be made for the buses to pick and drop passengers elsewhere along the Ring Road, and park at the Bus Park,” he demanded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also expressed his concern about the increment of fines for violating traffic rules from Rs 500 to Rs 1,500. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A fully authorised transport authority should be formed to manage this sector, he said. The parking lot at the Bus Park has capacity of parking more than 2,000 vehicles at a time. The parking of the Bus Park lot spanning across 161 ropanis of lands was constructed in 2056 BS under the public private partnership. Passenger buses leave the Bus Park for more than 60 districts. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16323', 'image' => '20221222061246_Transport.jpg', 'article_date' => '2022-12-22 18:11:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16581', 'article_category_id' => '1', 'title' => 'Directive to Install Embossed Number Plates by mid-March ', 'sub_title' => '', 'summary' => 'December 22: The Department of Transport Management has issued directives to the concerned authorities to ensure that the government-owned vehicles have embossed registration number plates installed by mid-March 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Department of Transport Management has issued directives to the concerned authorities to ensure that the government-owned vehicles have embossed registration number plates installed by mid-March 2022. </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"">Any government-owned vehicle without embossed number plates will be fined Rs 2000 following the end of the deadline as per the Vehicle and Transport Management Act, 2049 BS, the Department said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the Department, Dr Tokraj Pandey, said that government-owned vehicles were found to have not paid tax as much as for 10 years and hence were instructed to install embossed number plates. The installation of embossed number plates has been taken as a means of collecting taxes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department said that the tax must be cleared at the time of installation of embossed number plates. The directive of the department to install embossed registration number plates will increase the revenue of the government and the process of installing embossed plates will also be easier, Dr Pandey said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16322', 'image' => '20221222025738_20221102112443_20220608081057_Department.jpg', 'article_date' => '2022-12-22 14:57:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16580', 'article_category_id' => '1', 'title' => 'Industrialists Resume Protest against High Interest Rate', 'sub_title' => '', 'summary' => 'December 22: Industrialists and businessmen of eastern Nepal have been protesting against the government’s decision ever since it announced the budget for the current fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 22: Industrialists and businessmen of eastern Nepal have been protesting against the government’s decision ever since it announced the budget for the current fiscal year. The business community is dissatisfied with the high interest rates on loan approved by the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In a press conference held in Biratnagar on Wednesday, the industrialists announced that they will take to the streets from Thursday as the government failed to address their demands. They have said that they will close the Biratnagar market on Thursday and picket the provincial office of Nepal Rastra Bank at Hatkhola from 10 am to 4 pm.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The agitating industrialists informed during the press conference that they have decided to hold protest programmes including market closure and sit-ins with the participation of 44 business organizations of eastern Nepal under the leadership of Morang Merchants’ Association, Province 1 chapter of CNI and Chamber of Industries Morang.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The industrialists argued that they had to hit the street because the NRB ignored the issue of high interest rates of banks.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nand Kishore Rathi, vice president of Chamber of Industries Morang, said that NRB kept silent even when the interest rates were raised arbitrarily. We condemn it and that's why we are on strike, he added.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Naveen Rijal, president of Morang Merchants’ Association, said that they submitted the letters to the Finance Minister, Finance Secretary and the Governor of Nepal Rastra Bank before starting the street protest. He said that they were compelled to resume the protest as there was no alternative left other than to hit the streets. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rijal said that they decided to resume street protest to press the government to fulfil the five-point demand of businessmen. According to him, the movement had to be done not because of their desire but due to compulsion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The businessmen have demanded that working capital loan guidelines should be removed, interest rate should be reduced to a single digit, and the spread rate be kept at 2 percent. Likewise, they have demanded the institutional interest rate should be maintained at 2 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Businessmen have taken to the streets twice this year against government policies. The movement that started about two months ago was stopped at the request of the Federation of Nepalese Chamber of Commerce and Industry in view of the general elections on November 20.</span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16321', 'image' => '20221222021947_Chamber of industries morang new.jpg', 'article_date' => '2022-12-22 14:19:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16579', 'article_category_id' => '1', 'title' => 'Flights Disrupted at Tribhuwan International Airport for Some Hours', 'sub_title' => '', 'summary' => 'December 22: Regular flights were disrupted for some hours at the Tribhuwan International Airport (TIA) due to foggy weather in the Kathmandu Valley since early morning on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: Regular flights were disrupted for some hours at the Tribhuwan International Airport (TIA) due to foggy weather in the Kathmandu Valley since early morning on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both domestic and international flights to and from the TIA were interrupted since the morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">TIA General Manager Premnath Thakur said some flights were diverted due to bad weather.</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"">"Some aircraft arriving to the TIA were diverted due to bad weather and poor visibility," he shared, adding that both domestic and international flights were operated smoothly after the weather condition improved.</span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16320', 'image' => '20221222124922_tiaa.jpg', 'article_date' => '2022-12-22 12:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16578', 'article_category_id' => '1', 'title' => 'SC Orders Release of Serial Killer Charles Sobhraj', 'sub_title' => '', 'summary' => 'December 22: The Supreme Court (SC) has issued an order to release serial kicker Charles Sobhraj Gurumukh considering his age and send him back to his country within two weeks. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Supreme Court (SC) has issued an order to release serial kicker Charles Sobhraj Gurumukh considering his age and send him back to his country within two weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of justices Sapana Pradhan Malla and Til Prasad Shrestha issued the order on Wednesday directing the concerned officials to send this message to the Prison Office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“If it is not necessary to imprison him for other cases, he needs to be released and arrangement made to send him back to his home within 15 days,” the order stated. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In response to a writ petition filed by Sobhraj’s lawyer, the justices noted that the convict is already 75-years-old and is under medication for heart disease. He has also served 75 percent (19 years) of his jail term. So, it is not reasonable to keep him in prison from the legal viewpoint and from the perspective of prisoners’ human rights, the court order stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2003, the District Court Bhaktapur had slapped a lifetime imprisonment along with confiscation of all property of the French national Sobhraj, who is known as the serial bikini killer, for murder cases that dates back to the 1970s. </span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><br /> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16319', 'image' => '20221222120421_Supreme Court.jpg', 'article_date' => '2022-12-22 12:03:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16577', 'article_category_id' => '1', 'title' => 'Problematic Cooperative Reopens after Three Months', 'sub_title' => '', 'summary' => 'December 21: A cooperative which was closed for three months without refunding the depositors’ money has started operation again. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: A cooperative which was closed for three months without refunding the depositors’ money has started operation again. Manjushree Saving and Credit Cooperative Limited in Gokarneshwar Municipality-5 was closed from August 10. After its closure, the cooperative had issued a notice regarding the deadline for returning money to depositors. The chairman of the cooperative, Indra Lama said that the office of the cooperative will now be opened regularly and business will be done as usual. He said that there was a problem when the employee who was given the responsibility operate the cooperative did not take responsibility. The cooperative expressed its commitment that all depositors will get their principal back along with interest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The depositors stated that they are also cooperating with the cooperative after it resumed operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The major concern of depositors is that they are unable to withdraw their money when needed despite having deposited millions of rupees in the cooperative. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lama said that the cooperative was unable to return the money because the borrowers were yet to pay the loan. He said that the cooperative owes Rs 110 million to the depositors while it has given out loans of Rs 70 million. It has a building worth Rs 50 million and a total capital of Rs 130 million. Therefore, Lama assured that the cooperative will pay back the depositors anyhow.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Indra Lama has been the chairman of the cooperative since 2018. Before that, Samden Lama worked as the chairman. Samden was the chairman since the establishment of the cooperative in 2006. Vice Chairman Bijaya Tamang said that more than 90 percent of the nearly Rs 70 million loans disbursed by the cooperative are from the time Samden Lama was the chairman.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> “When I went to the house of many debtors to collect the loan, they used to say that they took the loan from Samden, and have already settled the matter with him. Meanwhile, Samden says he will come to the office soon and manage everything, but he does not come. Now, we will raise this issue at the general assembly,” said Tamang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the debt recovery of the cooperative halted, the directors started blaming each other. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former secretary Amar Nath Ghimire who resigned from the cooperative, said, “Cooperatives should be operated with the cooperation of all the directors and share members. It seems that problems arise in many cooperatives when the members act like the chairman and the chairman runs cooperative like a personal company. It is not the principle of cooperatives to operate in this manner.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Other problematic cooperatives including Bauddha-based Sumo Savings and Credit Cooperative, Mukti Savings and Credit Cooperative of at Gokarneshwar-6, Swarna Lakshmi Savings and Credit Cooperative of Gokarneshwar-5 and Kageshwari Savings and Credit Cooperative of Kageshwari Manohara Municipality-8 are still closed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16318', 'image' => '20221221025707_coop.jpg', 'article_date' => '2022-12-21 14:56:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16576', 'article_category_id' => '1', 'title' => 'NEA to Remove Wires and Cables Placed Haphazardly ', 'sub_title' => '', 'summary' => 'December 21: Nepal Electricity Authority (NEA) is planning to remove unsystematic cables placed along the Tripureshwar-Budhanilkantha area. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 21: Nepal Electricity Authority (NEA) is planning to remove unsystematic cables placed along the Tripureshwar-Budhanilkantha area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a public notice on Tuesday, the NEA said that it would get rid of the wires placed unsystematically on the electric poles along with the unused optical fibers and equipment fixed on the poles haphazardly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA had time and again urged the concerned service providers to pullout such cables. After the service providers using NEA’s poles seemed reluctant to remove the cables, the state-owned public utility decided to remove them on its own.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The notice says that the NEA will remove the cables in between Tripureshwar and Budhanilkantha that includes areas such as Sundhara, Ratna Park, Keshar Mahal, Lainchaur, Lazimpat and Narayan Gopal Chowk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> NEA said it decided to remove the cables in line with Article 19 of NEA Act- 1984 and it will not be responsible for any possible damages during the removal of wires. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NEA also apologized to the users of telephone, internet, cable TV and other services for any inconveniences caused by the removal of the cables.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16317', 'image' => '20221221014959_Untitled.jpg', 'article_date' => '2022-12-21 13:49:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16575', 'article_category_id' => '1', 'title' => 'Nepal Exported Carpets to 69 Countries', 'sub_title' => '', 'summary' => 'December 21: Nepal exported carpets to 69 countries in the fiscal year 2021/22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 21: Nepal exported carpets to 69 countries in the fiscal year 2021/22. The country earned foreign currency worth Rs 9 billion through the export of carpets, which is one of the major export products of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the carpets were sold to the USA, Germany and the UK. Out of the total exports, more than half of the carpets were exported to the USA. Carpets worth Rs 5.56 billion were exported to the USA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although Nepal exported carpets to 69 countries, only 27 of them imported carpets worth more than Rs 10 million. The other countries imported carpets worth Rs 28,000 to Rs 8.1 million, according to the records of the Department of Customs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal has been exporting carpets across the globe since a long time. Carpet is the major export product of Nepal which is manufactured using home-grown raw materials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other products that Nepal exports include soybean oil, palm oil, polyster and yarn, jute and jute products, ready-made garments, juice, sunflower oil, cardamom, felt, tea, pashmina shawls, dog feed, iron and iron products, noodles, hand-made papers, resin and herbs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, soybean oil, palm oil and sunflower oil are prepared using imported raw materials. Although export of edible oils top the list of exported items, they do not fall under the category of domestically produced goods. Therefore, carpet tops the list of major export item made from domestically produced materials.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16316', 'image' => '20221221125348_1671462398.1658270775.Clipboard22.jpg', 'article_date' => '2022-12-21 12:53:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16574', 'article_category_id' => '1', 'title' => 'Development Works Fail to Gather Pace even a Month after Election', 'sub_title' => '', 'summary' => 'December 21: It was widely anticipated that the development and construction works would speed up after the general election. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: It was widely anticipated that the development and construction works would speed up after the general election. However, that has not happened even a month after the November 20 election.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The tender bids called by the government itself is less at the moment compared to the past, and due to the lack of bilateral agreements for foreign loans and grants, there has been a delay in the disbursement of the construction budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It has been one month since the election but the construction works are to gather pace. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation of Contractors Association of Nepal, said that although construction should speed up, the situation is not conducive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said that the government has not released the payment fully. Although, the work has started on a minimal basis, the results are not visible, added Singh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Earlier, the government used to release mobilization fund," said Singh, "Now, that kind of money is not available." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh said that the construction business has been hit because the banks do not give loans and the mobilization funds are not given by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, the budget allocated for development works is in the state treasury. Likewise, he added that the contractors are struggling get loan from the banks. Even if they get loans, it would be problematic for them because of the high interest rates, added Singh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh further said that the demand for construction materials has decreased due to the decline in construction works. On the other hand, they have to pay double the price to purchase fuel. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Earlier, it used to cost Rs 900,000 to buy a full tanker of fuel, but now we have to pay Rs 1.8 million," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16315', 'image' => '20221221115400_SanebahadurNepali_Tanahun_RSS_06_poolnirman.jpg', 'article_date' => '2022-12-21 11:48:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16573', 'article_category_id' => '266', 'title' => 'Vivek Oberoi takes a Tour on Annapurna Cable Car', 'sub_title' => '', 'summary' => 'December 21: Bollywood actor Vivek Oberoi, who arrived in Nepal last Wednesday, visited the Annapurna Cable Car with is family earlier this week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: Bollywood actor Vivek Oberoi, who arrived in Nepal last Wednesday, visited the Annapurna Cable Car with is family earlier this week. He traveled from Sedi to Sarangkot through the Annapurna Cable Car in Pokhara.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He expressed excitement to see the beautiful lakes and other scenic views in Pokhara during the cable car journey. Arun Koirala, marketing manager of Annapurna Cable Car had welcomed actor Oberoi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The cable car, which started operation from Sedi in Pokhara to Sarangkot about a year ago, has become an attractive destination for domestic and foreign tourists visiting Pokhara. The cable car operates from 5 am to 5:30 pm every day. It has been facilitating visitors who wish to see sunrise from Sarangkot.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => 'Vivek, Oberoi, Annapurna, Nepal, visit, Pokhara, cable, car, lake, scenic, view', 'description' => '', 'sortorder' => '16314', 'image' => '20221221112228_1671489026.Clipboard10.jpg', 'article_date' => '2022-12-21 11:20:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16572', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 57 Billion, Credit Flow Limited to Rs 2 Billion', 'sub_title' => '', 'summary' => 'December 21: The deposits of commercial banks increased by 57.22 billion from mid-November to mid-December. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: The deposits of commercial banks increased by 57.22 billion from mid-November to mid-December. The bank deposits increased due to the improvement in remittance inflow and the money withdrawn from banks during the election returning back to the banking system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Bankers Association, the total deposits of commercial banks increased from Rs 4563 billion in mid-November to Rs 4621 billion in mid-December. According to the latest report of Nepal Rastra Bank on Current Macroeconomic and Financial Situation of Nepal, the economic indicators have improved due to decline in inflation rate from mid-November to mid-December and increase in foreign exchange reserves and remittance inflow. By mid-December, the remittance inflow has reached Rs 378 billion. This is 20.4 percent more than the inflow of remittance in the previous year. In mid-October to mid-November alone, the country received remittance of Rs 96 billion. The bank deposits have been positively impacted due to the improvement in the economic indicators.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although bank deposits have increased, loan extension has been comparatively low. The credit flow of banks amounted to just Rs 2 billion in mid-November to mid-December. According to the association, the credit portfolio of banks which was Rs 4222 billion in mid-November climbed to Rs 4224 billion in mid-December. Due to the increase in deposit collection and the decline in credit flow, the liquidity situation in the banks is becoming easier. The total credit to deposit ratio (CD ratio) of commercial banks fell to 86.40 percent by mid-December. As per the instructions of the central bank, this ratio should be maintained at 90 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data published by the NRB, deposits in banks and financial institutions increased by 0.9 percent by mid-November of the current financial year. During the same period of the previous year, such deposits increased by 1.3 percent. In between mid-October to mid-November, the credit flow of banks and financial institutions increased by 1.5 percent. The average base rate of commercial banks was 7.2 percent last by mid-November last year, but this year it has remained at 10.60 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => 'Bank, deposit, collection, NBA, credit, flow, central, Nepal, Rastra, CD ratio', 'description' => '', 'sortorder' => '16313', 'image' => '20221221110200_Banks - Copy.jpg', 'article_date' => '2022-12-21 11:00:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16571', 'article_category_id' => '1', 'title' => 'NEA Sells Energy worth Rs 11.16 Billion to India', 'sub_title' => '', 'summary' => 'December 20: Nepal Electricity Authority (NEA) has exported 1,357,757,000 units of electricity to India.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 20: Nepal Electricity Authority (NEA) has exported 1,357,757,000 units of electricity to India. The state-owned power utility made an income of Rs 11.16 billion from the export of power between June 2 to December 18. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had sold surplus electricity to India during the rainy season after fulfilling the demand for electricity in the domestic market. It had started selling power in the 'day-ahead market' of the Indian Energy Exchange Limited (IEX) through competitive bidding process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Indian currency worth INR 6,976,900,000 entered Nepal through power sale as the electricity trade with India is done in the Indian currency. This has also contributed to increasing the country's foreign currency reserves. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The electricity sale was started in the IEX on a daily basis, considering the 39 megawatts power generated from two hydroelectricity centres in the beginning. The power generated from six hydroelectricity projects was taken as the source and 364 megawatts power was sold in the Indian market since June 10. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had obtained permission to export power from additional two hydroelectricity projects since November 4 and 16. With this, the approved capacity for export to India reached 408 megawatts, considering the electricity generated from eight hydroelectricity powerhouses as the source. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had made an income of Rs 2,838,800,000 through the export of 299,100,000 units of electricity between May 15 to July 16. It earned Rs 8,324,240,000 through the export of 1,586,034,000 units of power as of December 18 in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA executive director Kulman Ghising informed that power export has been stopped now with the decrease in power production from run-of-the-river type projects with the decline in volume of water in the rivers and increasing demand for power across the country, including in Kathmandu with the onset of winter. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-12-20', 'modified' => '2022-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '16312', 'image' => '20221220050900_20210111032406_1610322387.1.jpg', 'article_date' => '2022-12-20 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16569', 'article_category_id' => '1', 'title' => 'Investment Scope of Insurance Companies Increases', 'sub_title' => '', 'summary' => 'December 20: Nepal Insurance Authority has changed the investment guidelines for insurance companies.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">December 20: Nepal Insurance Authority has changed the investment guidelines for insurance companies. After criticism that the capital of the companies was accumulated only in fixed deposits of banks and financial institutions, the authority changed the guidelines and widened the scope.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The investment guidelines issued in four years ago opened the door for insurance companies to invest in infrastructure and productive sectors including real estate business and water resources, agriculture, and tourism. The then Insurance Board at that time had instructed insurance companies to invest according to the guidelines a year ago, saying that the companies were not investing in the infrastructure development sector. However, the insurance companies have not been attracted to the new sectors.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">In the instructions issued separately for life, non-life, reinsurance and micro insurance companies, the newly-revamped insurance authority has directed those companies to reduce the amount to be kept in the banks’ term deposits and increased the portion of investments to be made in agriculture, hydropower, infrastructure, among other areas.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the guidelines, life insurance companies will be allowed to invest up to 25 per cent of the total investment in government bonds and non-life and reinsurance companies will be allowed to invest up to 20 per cent. Similarly, all types of insurance companies are allowed to keep a minimum of 30 per cent of their total investment in the fixed deposits of commercial banks and infrastructure development banks, 10 percent in development banks and finance companies. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Earlier, insurance companies had to invest at least 40 per cent of their total technical reserves in term deposits of commercial banks and infrastructure development banks. In addition, there was a provision to invest a maximum of 20 per cent in the deposits of development banks and a maximum of 10 per cent in finance companies.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Surya Prasad Silwal, chairman of the authority, said that the scope was increased after receiving complaints that companies could not increase investment due to the guidelines. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the authority's data, insurance companies have invested a total of Rs 527.8 billion in the fiscal year 2021/22.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Of that amount, Rs 408.43 billion (77.48 per cent) have been invested in fixed deposits of banks and financial institutions, Rs 7.45 billion (1.41 percent) have been invested in the infrastructure sector. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-20', 'modified' => '2022-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '16311', 'image' => '20221220100815_Insurance.jpg', 'article_date' => '2022-12-20 10:07:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16584', 'article_category_id' => '1', 'title' => 'Nepal Labour Migration Report 2022 Launched', 'sub_title' => '', 'summary' => 'December 22: Nepal’s Ministry of Labour, Employment and Social Security in collaboration with the International Organization for Migration (IOM), the International Labour Organization (ILO), and Safer Migration Programme (SaMI) jointly launched the ‘Nepal Labour Migration Report 2022’ on International Migrants Day on December 18.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 22: Nepal’s Ministry of Labour, Employment and Social Security in collaboration with the International Organization for Migration (IOM), the International Labour Organization (ILO), and Safer Migration Programme (SaMI) jointly launched the ‘Nepal Labour Migration Report 2022’ on International Migrants Day on December 18. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report encapsulates the major trends and activities in the country’s labour migration sector covering the period between 2019/2020 and 2021/2022 which follows the efforts of the ministry to periodically present a comprehensive overview of labour migration in Nepal, reads a joint statement issued by the ministry and its partner organisations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, the ministry has adopted and implemented a range of policies and legal instruments to address labour migration related issues in the country such as shifting labour migration related services to online system, adopting new directives and procedures for the reintegration of returnee migrant workers, as well as significant modification on immigration policies especially aiming the migrants in major countries of destination. Despite this progress, Nepali migrant workers’ health and safety issues as well as cases of fraud, abuse and exploitation continue to occur in unignorable numbers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report stresses the importance of ‘informed migration’, awareness, sensitization, and the need for implementing country specific pre-departure orientation as well as post-arrival orientation for migrants. Similarly, the report appeals to support the government’s efforts to ensure fair and ethical recruitment, including the implementation of the ‘employer pays’ principle, which means the costs of recruitment should be borne by the employer not by the worker. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Labour Migration has been a common livelihood strategy for Nepalese households over the recent decades. According to the World Bank, remittances contributed 24 percent of the country’s GDP in the year 2021. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing the event in capacity of the Chief Guest, Minister for Labour, Employment and Social Security Sher Bahadur Kunwar extended his best wishes to all the migrants on the occasion of the International Migrants Day, and wished for an environment where all labour migrants can be proud of their work and be able to be united for their rights.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The report will be a useful resource for everyone for it has covered every aspect of migration including its shifting dynamics,” said Minister Kunwar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I am glad that we have been able to continue to join hands with the government and other key stakeholders in presenting such report covering every aspects of the labour migration sector in Nepal , which I believe will eventually contribute to strengthening labour migration governance and ensuring safe, orderly and dignified labour migration in Nepal, envisioned by the Sustainable Development Goals and the Global Compact for Migration (GCM),” said Lorena Lando, IOM Nepal Chief of Mission . </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IOM, the ILO and Sami had supported the government in developing the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives from various other government agencies, civil society, development partners, academia, researchers, the United Nations, and other national and international organizations were among the attendees of the event. </span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">***</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16325', 'image' => '20221222063608_IMG_2331.jpg', 'article_date' => '2022-12-22 18:35:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16583', 'article_category_id' => '266', 'title' => 'NIBL Ace Capital- One Stop Solution for Investors and Investee ', 'sub_title' => '', 'summary' => 'December 22: In today's fast-paced globalized business world, most organizations are struggling to stay afloat and keep up with their competitors.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 22: In today's fast-paced globalized business world, most organizations are struggling to stay afloat and keep up with their competitors. Businesses and organizations must constantly change and transform in order to remain competitive and relevant in today's complex and changing global environment. To deal with the complexities of the business world, corporate advisory and consulting service came into existence.</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 context of Nepal, institutions registered under the prevailing laws have been providing corporate advisory services. But now with regulatory reforms, SEBON has opened doors for corporate advisory service by providing license to eligible merchant bankers for providing corporate advisory services. This indeed has added merchant bankers’ business avenues. In the earlier stages, majority of the merchant bankers were focused in providing mainly RTA/RTS and issue management services. Recently, advisory services have become a major domain of work for merchant bankers.</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"">Merchant bankers being the main connecting link between capital market and corporate world, advisory service has added more scope of work to merchant bankers to facilitate corporate world in corporate issues and bringing them to capital market in terms of capital funding, merger and acquisition, financial projection, valuations, escrow agency, loan syndication, capital structuring and making IPO compliant to tap the capital market by floating shares to public.</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"">Besides that, corporate advisory service has been facilitating the companies in capital funding who have been refrained from financial access due to lack of collateral, debt equity ratio mismatch and unjustifiable financial statement due to the nature of business. In initial days, corporate advisory used to connect investors to investee for filling these funding gaps, but now with introduction of Specialized Investment Fund Regulations 2075, SEBON has opened doors for private equity funds as a new financing source for prospective business that are restricted to financial access due to regulatory restrictions. In this regard, NIBL Ace Capital has obtained Specialized Investment Fund Manager License from SEBON and is in process of registering PE fund – probably the largest licensed PE fund from SEBON for financing the projects that have limited financial access and have potential of contributing to the growth of economy. </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"">Specialized Investment Fund Manager License has not only opened doors for prospective investee companies but also to the prospective investors who are seeking to make investment in unlisted companies and prospective projects where detailed investment analysis is required in pre investment phase and efficient portfolio management in post investment phase with proper exit strategy. This has created a one stop solution to the investee side where they can avail consultancy to investment service and deal assessment to fund management service on the investors’ side.</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 nutshell, the business dynamics are no longer limited to IPO-related merchant banking services, but the services have widened from consultancy to investment funding to the institutions project assessment to project management.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16324', 'image' => '20230106044248_collage (32).jpg', 'article_date' => '2022-12-22 18:23:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16582', 'article_category_id' => '1', 'title' => 'Night Buses Leaving Kathmandu Valley have to Set Off only from Gongabu Bus Park ', 'sub_title' => '', 'summary' => 'December 22: From now on, all night buses leaving the Kathmandu Valley with passengers for their destinations have to be parked and get off from the New Bus Park in Gongabu. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: From now on, all night buses leaving the Kathmandu Valley with passengers for their destinations have to be parked and get off from the New Bus Park in Gongabu. The move is aimed at reducing road accidents and traffic jams, said Senior Superintendent of Police Rajendra Prasad Bhatta, spokesperson for the Kathmandu Valley Traffic Police Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, night buses leaving the Valley would depart from various places of the Valley including Chabahil, Gaushala, Koteshwar, Kalanki, Gongabu and Machhapokhari. Rampant parking of the buses elsewhere caused traffic jams and road accidents, said SSP Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Night passenger vehicles leaving from the Valley from various parts have caused traffic congestion. So, this new arrangement has been made," he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President of the Federation of Nepalese National Transport Entrepreneurs, Bijaya Bahadur Swar stressed the need for the transport sector to provide service to people in an easy and accessible way. “Arrangements should be made for the buses to pick and drop passengers elsewhere along the Ring Road, and park at the Bus Park,” he demanded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also expressed his concern about the increment of fines for violating traffic rules from Rs 500 to Rs 1,500. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A fully authorised transport authority should be formed to manage this sector, he said. The parking lot at the Bus Park has capacity of parking more than 2,000 vehicles at a time. The parking of the Bus Park lot spanning across 161 ropanis of lands was constructed in 2056 BS under the public private partnership. Passenger buses leave the Bus Park for more than 60 districts. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16323', 'image' => '20221222061246_Transport.jpg', 'article_date' => '2022-12-22 18:11:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16581', 'article_category_id' => '1', 'title' => 'Directive to Install Embossed Number Plates by mid-March ', 'sub_title' => '', 'summary' => 'December 22: The Department of Transport Management has issued directives to the concerned authorities to ensure that the government-owned vehicles have embossed registration number plates installed by mid-March 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Department of Transport Management has issued directives to the concerned authorities to ensure that the government-owned vehicles have embossed registration number plates installed by mid-March 2022. </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"">Any government-owned vehicle without embossed number plates will be fined Rs 2000 following the end of the deadline as per the Vehicle and Transport Management Act, 2049 BS, the Department said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the Department, Dr Tokraj Pandey, said that government-owned vehicles were found to have not paid tax as much as for 10 years and hence were instructed to install embossed number plates. The installation of embossed number plates has been taken as a means of collecting taxes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department said that the tax must be cleared at the time of installation of embossed number plates. The directive of the department to install embossed registration number plates will increase the revenue of the government and the process of installing embossed plates will also be easier, Dr Pandey said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16322', 'image' => '20221222025738_20221102112443_20220608081057_Department.jpg', 'article_date' => '2022-12-22 14:57:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16580', 'article_category_id' => '1', 'title' => 'Industrialists Resume Protest against High Interest Rate', 'sub_title' => '', 'summary' => 'December 22: Industrialists and businessmen of eastern Nepal have been protesting against the government’s decision ever since it announced the budget for the current fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 22: Industrialists and businessmen of eastern Nepal have been protesting against the government’s decision ever since it announced the budget for the current fiscal year. The business community is dissatisfied with the high interest rates on loan approved by the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In a press conference held in Biratnagar on Wednesday, the industrialists announced that they will take to the streets from Thursday as the government failed to address their demands. They have said that they will close the Biratnagar market on Thursday and picket the provincial office of Nepal Rastra Bank at Hatkhola from 10 am to 4 pm.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The agitating industrialists informed during the press conference that they have decided to hold protest programmes including market closure and sit-ins with the participation of 44 business organizations of eastern Nepal under the leadership of Morang Merchants’ Association, Province 1 chapter of CNI and Chamber of Industries Morang.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The industrialists argued that they had to hit the street because the NRB ignored the issue of high interest rates of banks.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nand Kishore Rathi, vice president of Chamber of Industries Morang, said that NRB kept silent even when the interest rates were raised arbitrarily. We condemn it and that's why we are on strike, he added.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Naveen Rijal, president of Morang Merchants’ Association, said that they submitted the letters to the Finance Minister, Finance Secretary and the Governor of Nepal Rastra Bank before starting the street protest. He said that they were compelled to resume the protest as there was no alternative left other than to hit the streets. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rijal said that they decided to resume street protest to press the government to fulfil the five-point demand of businessmen. According to him, the movement had to be done not because of their desire but due to compulsion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The businessmen have demanded that working capital loan guidelines should be removed, interest rate should be reduced to a single digit, and the spread rate be kept at 2 percent. Likewise, they have demanded the institutional interest rate should be maintained at 2 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Businessmen have taken to the streets twice this year against government policies. The movement that started about two months ago was stopped at the request of the Federation of Nepalese Chamber of Commerce and Industry in view of the general elections on November 20.</span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16321', 'image' => '20221222021947_Chamber of industries morang new.jpg', 'article_date' => '2022-12-22 14:19:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16579', 'article_category_id' => '1', 'title' => 'Flights Disrupted at Tribhuwan International Airport for Some Hours', 'sub_title' => '', 'summary' => 'December 22: Regular flights were disrupted for some hours at the Tribhuwan International Airport (TIA) due to foggy weather in the Kathmandu Valley since early morning on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: Regular flights were disrupted for some hours at the Tribhuwan International Airport (TIA) due to foggy weather in the Kathmandu Valley since early morning on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both domestic and international flights to and from the TIA were interrupted since the morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">TIA General Manager Premnath Thakur said some flights were diverted due to bad weather.</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"">"Some aircraft arriving to the TIA were diverted due to bad weather and poor visibility," he shared, adding that both domestic and international flights were operated smoothly after the weather condition improved.</span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16320', 'image' => '20221222124922_tiaa.jpg', 'article_date' => '2022-12-22 12:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16578', 'article_category_id' => '1', 'title' => 'SC Orders Release of Serial Killer Charles Sobhraj', 'sub_title' => '', 'summary' => 'December 22: The Supreme Court (SC) has issued an order to release serial kicker Charles Sobhraj Gurumukh considering his age and send him back to his country within two weeks. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Supreme Court (SC) has issued an order to release serial kicker Charles Sobhraj Gurumukh considering his age and send him back to his country within two weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of justices Sapana Pradhan Malla and Til Prasad Shrestha issued the order on Wednesday directing the concerned officials to send this message to the Prison Office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“If it is not necessary to imprison him for other cases, he needs to be released and arrangement made to send him back to his home within 15 days,” the order stated. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In response to a writ petition filed by Sobhraj’s lawyer, the justices noted that the convict is already 75-years-old and is under medication for heart disease. He has also served 75 percent (19 years) of his jail term. So, it is not reasonable to keep him in prison from the legal viewpoint and from the perspective of prisoners’ human rights, the court order stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2003, the District Court Bhaktapur had slapped a lifetime imprisonment along with confiscation of all property of the French national Sobhraj, who is known as the serial bikini killer, for murder cases that dates back to the 1970s. </span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><br /> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16319', 'image' => '20221222120421_Supreme Court.jpg', 'article_date' => '2022-12-22 12:03:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16577', 'article_category_id' => '1', 'title' => 'Problematic Cooperative Reopens after Three Months', 'sub_title' => '', 'summary' => 'December 21: A cooperative which was closed for three months without refunding the depositors’ money has started operation again. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: A cooperative which was closed for three months without refunding the depositors’ money has started operation again. Manjushree Saving and Credit Cooperative Limited in Gokarneshwar Municipality-5 was closed from August 10. After its closure, the cooperative had issued a notice regarding the deadline for returning money to depositors. The chairman of the cooperative, Indra Lama said that the office of the cooperative will now be opened regularly and business will be done as usual. He said that there was a problem when the employee who was given the responsibility operate the cooperative did not take responsibility. The cooperative expressed its commitment that all depositors will get their principal back along with interest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The depositors stated that they are also cooperating with the cooperative after it resumed operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The major concern of depositors is that they are unable to withdraw their money when needed despite having deposited millions of rupees in the cooperative. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lama said that the cooperative was unable to return the money because the borrowers were yet to pay the loan. He said that the cooperative owes Rs 110 million to the depositors while it has given out loans of Rs 70 million. It has a building worth Rs 50 million and a total capital of Rs 130 million. Therefore, Lama assured that the cooperative will pay back the depositors anyhow.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Indra Lama has been the chairman of the cooperative since 2018. Before that, Samden Lama worked as the chairman. Samden was the chairman since the establishment of the cooperative in 2006. Vice Chairman Bijaya Tamang said that more than 90 percent of the nearly Rs 70 million loans disbursed by the cooperative are from the time Samden Lama was the chairman.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> “When I went to the house of many debtors to collect the loan, they used to say that they took the loan from Samden, and have already settled the matter with him. Meanwhile, Samden says he will come to the office soon and manage everything, but he does not come. Now, we will raise this issue at the general assembly,” said Tamang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the debt recovery of the cooperative halted, the directors started blaming each other. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former secretary Amar Nath Ghimire who resigned from the cooperative, said, “Cooperatives should be operated with the cooperation of all the directors and share members. It seems that problems arise in many cooperatives when the members act like the chairman and the chairman runs cooperative like a personal company. It is not the principle of cooperatives to operate in this manner.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Other problematic cooperatives including Bauddha-based Sumo Savings and Credit Cooperative, Mukti Savings and Credit Cooperative of at Gokarneshwar-6, Swarna Lakshmi Savings and Credit Cooperative of Gokarneshwar-5 and Kageshwari Savings and Credit Cooperative of Kageshwari Manohara Municipality-8 are still closed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16318', 'image' => '20221221025707_coop.jpg', 'article_date' => '2022-12-21 14:56:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16576', 'article_category_id' => '1', 'title' => 'NEA to Remove Wires and Cables Placed Haphazardly ', 'sub_title' => '', 'summary' => 'December 21: Nepal Electricity Authority (NEA) is planning to remove unsystematic cables placed along the Tripureshwar-Budhanilkantha area. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 21: Nepal Electricity Authority (NEA) is planning to remove unsystematic cables placed along the Tripureshwar-Budhanilkantha area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a public notice on Tuesday, the NEA said that it would get rid of the wires placed unsystematically on the electric poles along with the unused optical fibers and equipment fixed on the poles haphazardly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA had time and again urged the concerned service providers to pullout such cables. After the service providers using NEA’s poles seemed reluctant to remove the cables, the state-owned public utility decided to remove them on its own.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The notice says that the NEA will remove the cables in between Tripureshwar and Budhanilkantha that includes areas such as Sundhara, Ratna Park, Keshar Mahal, Lainchaur, Lazimpat and Narayan Gopal Chowk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> NEA said it decided to remove the cables in line with Article 19 of NEA Act- 1984 and it will not be responsible for any possible damages during the removal of wires. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NEA also apologized to the users of telephone, internet, cable TV and other services for any inconveniences caused by the removal of the cables.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16317', 'image' => '20221221014959_Untitled.jpg', 'article_date' => '2022-12-21 13:49:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16575', 'article_category_id' => '1', 'title' => 'Nepal Exported Carpets to 69 Countries', 'sub_title' => '', 'summary' => 'December 21: Nepal exported carpets to 69 countries in the fiscal year 2021/22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 21: Nepal exported carpets to 69 countries in the fiscal year 2021/22. The country earned foreign currency worth Rs 9 billion through the export of carpets, which is one of the major export products of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the carpets were sold to the USA, Germany and the UK. Out of the total exports, more than half of the carpets were exported to the USA. Carpets worth Rs 5.56 billion were exported to the USA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although Nepal exported carpets to 69 countries, only 27 of them imported carpets worth more than Rs 10 million. The other countries imported carpets worth Rs 28,000 to Rs 8.1 million, according to the records of the Department of Customs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal has been exporting carpets across the globe since a long time. Carpet is the major export product of Nepal which is manufactured using home-grown raw materials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other products that Nepal exports include soybean oil, palm oil, polyster and yarn, jute and jute products, ready-made garments, juice, sunflower oil, cardamom, felt, tea, pashmina shawls, dog feed, iron and iron products, noodles, hand-made papers, resin and herbs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, soybean oil, palm oil and sunflower oil are prepared using imported raw materials. Although export of edible oils top the list of exported items, they do not fall under the category of domestically produced goods. Therefore, carpet tops the list of major export item made from domestically produced materials.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16316', 'image' => '20221221125348_1671462398.1658270775.Clipboard22.jpg', 'article_date' => '2022-12-21 12:53:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16574', 'article_category_id' => '1', 'title' => 'Development Works Fail to Gather Pace even a Month after Election', 'sub_title' => '', 'summary' => 'December 21: It was widely anticipated that the development and construction works would speed up after the general election. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: It was widely anticipated that the development and construction works would speed up after the general election. However, that has not happened even a month after the November 20 election.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The tender bids called by the government itself is less at the moment compared to the past, and due to the lack of bilateral agreements for foreign loans and grants, there has been a delay in the disbursement of the construction budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It has been one month since the election but the construction works are to gather pace. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation of Contractors Association of Nepal, said that although construction should speed up, the situation is not conducive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said that the government has not released the payment fully. Although, the work has started on a minimal basis, the results are not visible, added Singh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Earlier, the government used to release mobilization fund," said Singh, "Now, that kind of money is not available." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh said that the construction business has been hit because the banks do not give loans and the mobilization funds are not given by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, the budget allocated for development works is in the state treasury. Likewise, he added that the contractors are struggling get loan from the banks. Even if they get loans, it would be problematic for them because of the high interest rates, added Singh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh further said that the demand for construction materials has decreased due to the decline in construction works. On the other hand, they have to pay double the price to purchase fuel. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Earlier, it used to cost Rs 900,000 to buy a full tanker of fuel, but now we have to pay Rs 1.8 million," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16315', 'image' => '20221221115400_SanebahadurNepali_Tanahun_RSS_06_poolnirman.jpg', 'article_date' => '2022-12-21 11:48:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16573', 'article_category_id' => '266', 'title' => 'Vivek Oberoi takes a Tour on Annapurna Cable Car', 'sub_title' => '', 'summary' => 'December 21: Bollywood actor Vivek Oberoi, who arrived in Nepal last Wednesday, visited the Annapurna Cable Car with is family earlier this week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: Bollywood actor Vivek Oberoi, who arrived in Nepal last Wednesday, visited the Annapurna Cable Car with is family earlier this week. He traveled from Sedi to Sarangkot through the Annapurna Cable Car in Pokhara.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He expressed excitement to see the beautiful lakes and other scenic views in Pokhara during the cable car journey. Arun Koirala, marketing manager of Annapurna Cable Car had welcomed actor Oberoi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The cable car, which started operation from Sedi in Pokhara to Sarangkot about a year ago, has become an attractive destination for domestic and foreign tourists visiting Pokhara. The cable car operates from 5 am to 5:30 pm every day. It has been facilitating visitors who wish to see sunrise from Sarangkot.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => 'Vivek, Oberoi, Annapurna, Nepal, visit, Pokhara, cable, car, lake, scenic, view', 'description' => '', 'sortorder' => '16314', 'image' => '20221221112228_1671489026.Clipboard10.jpg', 'article_date' => '2022-12-21 11:20:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16572', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 57 Billion, Credit Flow Limited to Rs 2 Billion', 'sub_title' => '', 'summary' => 'December 21: The deposits of commercial banks increased by 57.22 billion from mid-November to mid-December. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: The deposits of commercial banks increased by 57.22 billion from mid-November to mid-December. The bank deposits increased due to the improvement in remittance inflow and the money withdrawn from banks during the election returning back to the banking system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Bankers Association, the total deposits of commercial banks increased from Rs 4563 billion in mid-November to Rs 4621 billion in mid-December. According to the latest report of Nepal Rastra Bank on Current Macroeconomic and Financial Situation of Nepal, the economic indicators have improved due to decline in inflation rate from mid-November to mid-December and increase in foreign exchange reserves and remittance inflow. By mid-December, the remittance inflow has reached Rs 378 billion. This is 20.4 percent more than the inflow of remittance in the previous year. In mid-October to mid-November alone, the country received remittance of Rs 96 billion. The bank deposits have been positively impacted due to the improvement in the economic indicators.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although bank deposits have increased, loan extension has been comparatively low. The credit flow of banks amounted to just Rs 2 billion in mid-November to mid-December. According to the association, the credit portfolio of banks which was Rs 4222 billion in mid-November climbed to Rs 4224 billion in mid-December. Due to the increase in deposit collection and the decline in credit flow, the liquidity situation in the banks is becoming easier. The total credit to deposit ratio (CD ratio) of commercial banks fell to 86.40 percent by mid-December. As per the instructions of the central bank, this ratio should be maintained at 90 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data published by the NRB, deposits in banks and financial institutions increased by 0.9 percent by mid-November of the current financial year. During the same period of the previous year, such deposits increased by 1.3 percent. In between mid-October to mid-November, the credit flow of banks and financial institutions increased by 1.5 percent. The average base rate of commercial banks was 7.2 percent last by mid-November last year, but this year it has remained at 10.60 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => 'Bank, deposit, collection, NBA, credit, flow, central, Nepal, Rastra, CD ratio', 'description' => '', 'sortorder' => '16313', 'image' => '20221221110200_Banks - Copy.jpg', 'article_date' => '2022-12-21 11:00:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16571', 'article_category_id' => '1', 'title' => 'NEA Sells Energy worth Rs 11.16 Billion to India', 'sub_title' => '', 'summary' => 'December 20: Nepal Electricity Authority (NEA) has exported 1,357,757,000 units of electricity to India.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 20: Nepal Electricity Authority (NEA) has exported 1,357,757,000 units of electricity to India. The state-owned power utility made an income of Rs 11.16 billion from the export of power between June 2 to December 18. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had sold surplus electricity to India during the rainy season after fulfilling the demand for electricity in the domestic market. It had started selling power in the 'day-ahead market' of the Indian Energy Exchange Limited (IEX) through competitive bidding process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Indian currency worth INR 6,976,900,000 entered Nepal through power sale as the electricity trade with India is done in the Indian currency. This has also contributed to increasing the country's foreign currency reserves. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The electricity sale was started in the IEX on a daily basis, considering the 39 megawatts power generated from two hydroelectricity centres in the beginning. The power generated from six hydroelectricity projects was taken as the source and 364 megawatts power was sold in the Indian market since June 10. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had obtained permission to export power from additional two hydroelectricity projects since November 4 and 16. With this, the approved capacity for export to India reached 408 megawatts, considering the electricity generated from eight hydroelectricity powerhouses as the source. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had made an income of Rs 2,838,800,000 through the export of 299,100,000 units of electricity between May 15 to July 16. It earned Rs 8,324,240,000 through the export of 1,586,034,000 units of power as of December 18 in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA executive director Kulman Ghising informed that power export has been stopped now with the decrease in power production from run-of-the-river type projects with the decline in volume of water in the rivers and increasing demand for power across the country, including in Kathmandu with the onset of winter. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-12-20', 'modified' => '2022-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '16312', 'image' => '20221220050900_20210111032406_1610322387.1.jpg', 'article_date' => '2022-12-20 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16569', 'article_category_id' => '1', 'title' => 'Investment Scope of Insurance Companies Increases', 'sub_title' => '', 'summary' => 'December 20: Nepal Insurance Authority has changed the investment guidelines for insurance companies.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">December 20: Nepal Insurance Authority has changed the investment guidelines for insurance companies. After criticism that the capital of the companies was accumulated only in fixed deposits of banks and financial institutions, the authority changed the guidelines and widened the scope.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The investment guidelines issued in four years ago opened the door for insurance companies to invest in infrastructure and productive sectors including real estate business and water resources, agriculture, and tourism. The then Insurance Board at that time had instructed insurance companies to invest according to the guidelines a year ago, saying that the companies were not investing in the infrastructure development sector. However, the insurance companies have not been attracted to the new sectors.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">In the instructions issued separately for life, non-life, reinsurance and micro insurance companies, the newly-revamped insurance authority has directed those companies to reduce the amount to be kept in the banks’ term deposits and increased the portion of investments to be made in agriculture, hydropower, infrastructure, among other areas.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the guidelines, life insurance companies will be allowed to invest up to 25 per cent of the total investment in government bonds and non-life and reinsurance companies will be allowed to invest up to 20 per cent. Similarly, all types of insurance companies are allowed to keep a minimum of 30 per cent of their total investment in the fixed deposits of commercial banks and infrastructure development banks, 10 percent in development banks and finance companies. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Earlier, insurance companies had to invest at least 40 per cent of their total technical reserves in term deposits of commercial banks and infrastructure development banks. In addition, there was a provision to invest a maximum of 20 per cent in the deposits of development banks and a maximum of 10 per cent in finance companies.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Surya Prasad Silwal, chairman of the authority, said that the scope was increased after receiving complaints that companies could not increase investment due to the guidelines. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the authority's data, insurance companies have invested a total of Rs 527.8 billion in the fiscal year 2021/22.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Of that amount, Rs 408.43 billion (77.48 per cent) have been invested in fixed deposits of banks and financial institutions, Rs 7.45 billion (1.41 percent) have been invested in the infrastructure sector. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-20', 'modified' => '2022-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '16311', 'image' => '20221220100815_Insurance.jpg', 'article_date' => '2022-12-20 10:07:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16584', 'article_category_id' => '1', 'title' => 'Nepal Labour Migration Report 2022 Launched', 'sub_title' => '', 'summary' => 'December 22: Nepal’s Ministry of Labour, Employment and Social Security in collaboration with the International Organization for Migration (IOM), the International Labour Organization (ILO), and Safer Migration Programme (SaMI) jointly launched the ‘Nepal Labour Migration Report 2022’ on International Migrants Day on December 18.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 22: Nepal’s Ministry of Labour, Employment and Social Security in collaboration with the International Organization for Migration (IOM), the International Labour Organization (ILO), and Safer Migration Programme (SaMI) jointly launched the ‘Nepal Labour Migration Report 2022’ on International Migrants Day on December 18. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report encapsulates the major trends and activities in the country’s labour migration sector covering the period between 2019/2020 and 2021/2022 which follows the efforts of the ministry to periodically present a comprehensive overview of labour migration in Nepal, reads a joint statement issued by the ministry and its partner organisations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, the ministry has adopted and implemented a range of policies and legal instruments to address labour migration related issues in the country such as shifting labour migration related services to online system, adopting new directives and procedures for the reintegration of returnee migrant workers, as well as significant modification on immigration policies especially aiming the migrants in major countries of destination. Despite this progress, Nepali migrant workers’ health and safety issues as well as cases of fraud, abuse and exploitation continue to occur in unignorable numbers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report stresses the importance of ‘informed migration’, awareness, sensitization, and the need for implementing country specific pre-departure orientation as well as post-arrival orientation for migrants. Similarly, the report appeals to support the government’s efforts to ensure fair and ethical recruitment, including the implementation of the ‘employer pays’ principle, which means the costs of recruitment should be borne by the employer not by the worker. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Labour Migration has been a common livelihood strategy for Nepalese households over the recent decades. According to the World Bank, remittances contributed 24 percent of the country’s GDP in the year 2021. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing the event in capacity of the Chief Guest, Minister for Labour, Employment and Social Security Sher Bahadur Kunwar extended his best wishes to all the migrants on the occasion of the International Migrants Day, and wished for an environment where all labour migrants can be proud of their work and be able to be united for their rights.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The report will be a useful resource for everyone for it has covered every aspect of migration including its shifting dynamics,” said Minister Kunwar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I am glad that we have been able to continue to join hands with the government and other key stakeholders in presenting such report covering every aspects of the labour migration sector in Nepal , which I believe will eventually contribute to strengthening labour migration governance and ensuring safe, orderly and dignified labour migration in Nepal, envisioned by the Sustainable Development Goals and the Global Compact for Migration (GCM),” said Lorena Lando, IOM Nepal Chief of Mission . </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IOM, the ILO and Sami had supported the government in developing the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives from various other government agencies, civil society, development partners, academia, researchers, the United Nations, and other national and international organizations were among the attendees of the event. </span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">***</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16325', 'image' => '20221222063608_IMG_2331.jpg', 'article_date' => '2022-12-22 18:35:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16583', 'article_category_id' => '266', 'title' => 'NIBL Ace Capital- One Stop Solution for Investors and Investee ', 'sub_title' => '', 'summary' => 'December 22: In today's fast-paced globalized business world, most organizations are struggling to stay afloat and keep up with their competitors.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 22: In today's fast-paced globalized business world, most organizations are struggling to stay afloat and keep up with their competitors. Businesses and organizations must constantly change and transform in order to remain competitive and relevant in today's complex and changing global environment. To deal with the complexities of the business world, corporate advisory and consulting service came into existence.</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 context of Nepal, institutions registered under the prevailing laws have been providing corporate advisory services. But now with regulatory reforms, SEBON has opened doors for corporate advisory service by providing license to eligible merchant bankers for providing corporate advisory services. This indeed has added merchant bankers’ business avenues. In the earlier stages, majority of the merchant bankers were focused in providing mainly RTA/RTS and issue management services. Recently, advisory services have become a major domain of work for merchant bankers.</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"">Merchant bankers being the main connecting link between capital market and corporate world, advisory service has added more scope of work to merchant bankers to facilitate corporate world in corporate issues and bringing them to capital market in terms of capital funding, merger and acquisition, financial projection, valuations, escrow agency, loan syndication, capital structuring and making IPO compliant to tap the capital market by floating shares to public.</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"">Besides that, corporate advisory service has been facilitating the companies in capital funding who have been refrained from financial access due to lack of collateral, debt equity ratio mismatch and unjustifiable financial statement due to the nature of business. In initial days, corporate advisory used to connect investors to investee for filling these funding gaps, but now with introduction of Specialized Investment Fund Regulations 2075, SEBON has opened doors for private equity funds as a new financing source for prospective business that are restricted to financial access due to regulatory restrictions. In this regard, NIBL Ace Capital has obtained Specialized Investment Fund Manager License from SEBON and is in process of registering PE fund – probably the largest licensed PE fund from SEBON for financing the projects that have limited financial access and have potential of contributing to the growth of economy. </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"">Specialized Investment Fund Manager License has not only opened doors for prospective investee companies but also to the prospective investors who are seeking to make investment in unlisted companies and prospective projects where detailed investment analysis is required in pre investment phase and efficient portfolio management in post investment phase with proper exit strategy. This has created a one stop solution to the investee side where they can avail consultancy to investment service and deal assessment to fund management service on the investors’ side.</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 nutshell, the business dynamics are no longer limited to IPO-related merchant banking services, but the services have widened from consultancy to investment funding to the institutions project assessment to project management.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16324', 'image' => '20230106044248_collage (32).jpg', 'article_date' => '2022-12-22 18:23:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16582', 'article_category_id' => '1', 'title' => 'Night Buses Leaving Kathmandu Valley have to Set Off only from Gongabu Bus Park ', 'sub_title' => '', 'summary' => 'December 22: From now on, all night buses leaving the Kathmandu Valley with passengers for their destinations have to be parked and get off from the New Bus Park in Gongabu. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: From now on, all night buses leaving the Kathmandu Valley with passengers for their destinations have to be parked and get off from the New Bus Park in Gongabu. The move is aimed at reducing road accidents and traffic jams, said Senior Superintendent of Police Rajendra Prasad Bhatta, spokesperson for the Kathmandu Valley Traffic Police Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, night buses leaving the Valley would depart from various places of the Valley including Chabahil, Gaushala, Koteshwar, Kalanki, Gongabu and Machhapokhari. Rampant parking of the buses elsewhere caused traffic jams and road accidents, said SSP Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Night passenger vehicles leaving from the Valley from various parts have caused traffic congestion. So, this new arrangement has been made," he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President of the Federation of Nepalese National Transport Entrepreneurs, Bijaya Bahadur Swar stressed the need for the transport sector to provide service to people in an easy and accessible way. “Arrangements should be made for the buses to pick and drop passengers elsewhere along the Ring Road, and park at the Bus Park,” he demanded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also expressed his concern about the increment of fines for violating traffic rules from Rs 500 to Rs 1,500. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A fully authorised transport authority should be formed to manage this sector, he said. The parking lot at the Bus Park has capacity of parking more than 2,000 vehicles at a time. The parking of the Bus Park lot spanning across 161 ropanis of lands was constructed in 2056 BS under the public private partnership. Passenger buses leave the Bus Park for more than 60 districts. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16323', 'image' => '20221222061246_Transport.jpg', 'article_date' => '2022-12-22 18:11:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16581', 'article_category_id' => '1', 'title' => 'Directive to Install Embossed Number Plates by mid-March ', 'sub_title' => '', 'summary' => 'December 22: The Department of Transport Management has issued directives to the concerned authorities to ensure that the government-owned vehicles have embossed registration number plates installed by mid-March 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Department of Transport Management has issued directives to the concerned authorities to ensure that the government-owned vehicles have embossed registration number plates installed by mid-March 2022. </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"">Any government-owned vehicle without embossed number plates will be fined Rs 2000 following the end of the deadline as per the Vehicle and Transport Management Act, 2049 BS, the Department said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the Department, Dr Tokraj Pandey, said that government-owned vehicles were found to have not paid tax as much as for 10 years and hence were instructed to install embossed number plates. The installation of embossed number plates has been taken as a means of collecting taxes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department said that the tax must be cleared at the time of installation of embossed number plates. The directive of the department to install embossed registration number plates will increase the revenue of the government and the process of installing embossed plates will also be easier, Dr Pandey said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16322', 'image' => '20221222025738_20221102112443_20220608081057_Department.jpg', 'article_date' => '2022-12-22 14:57:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16580', 'article_category_id' => '1', 'title' => 'Industrialists Resume Protest against High Interest Rate', 'sub_title' => '', 'summary' => 'December 22: Industrialists and businessmen of eastern Nepal have been protesting against the government’s decision ever since it announced the budget for the current fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 22: Industrialists and businessmen of eastern Nepal have been protesting against the government’s decision ever since it announced the budget for the current fiscal year. The business community is dissatisfied with the high interest rates on loan approved by the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In a press conference held in Biratnagar on Wednesday, the industrialists announced that they will take to the streets from Thursday as the government failed to address their demands. They have said that they will close the Biratnagar market on Thursday and picket the provincial office of Nepal Rastra Bank at Hatkhola from 10 am to 4 pm.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The agitating industrialists informed during the press conference that they have decided to hold protest programmes including market closure and sit-ins with the participation of 44 business organizations of eastern Nepal under the leadership of Morang Merchants’ Association, Province 1 chapter of CNI and Chamber of Industries Morang.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The industrialists argued that they had to hit the street because the NRB ignored the issue of high interest rates of banks.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nand Kishore Rathi, vice president of Chamber of Industries Morang, said that NRB kept silent even when the interest rates were raised arbitrarily. We condemn it and that's why we are on strike, he added.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Naveen Rijal, president of Morang Merchants’ Association, said that they submitted the letters to the Finance Minister, Finance Secretary and the Governor of Nepal Rastra Bank before starting the street protest. He said that they were compelled to resume the protest as there was no alternative left other than to hit the streets. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rijal said that they decided to resume street protest to press the government to fulfil the five-point demand of businessmen. According to him, the movement had to be done not because of their desire but due to compulsion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The businessmen have demanded that working capital loan guidelines should be removed, interest rate should be reduced to a single digit, and the spread rate be kept at 2 percent. Likewise, they have demanded the institutional interest rate should be maintained at 2 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Businessmen have taken to the streets twice this year against government policies. The movement that started about two months ago was stopped at the request of the Federation of Nepalese Chamber of Commerce and Industry in view of the general elections on November 20.</span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16321', 'image' => '20221222021947_Chamber of industries morang new.jpg', 'article_date' => '2022-12-22 14:19:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16579', 'article_category_id' => '1', 'title' => 'Flights Disrupted at Tribhuwan International Airport for Some Hours', 'sub_title' => '', 'summary' => 'December 22: Regular flights were disrupted for some hours at the Tribhuwan International Airport (TIA) due to foggy weather in the Kathmandu Valley since early morning on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: Regular flights were disrupted for some hours at the Tribhuwan International Airport (TIA) due to foggy weather in the Kathmandu Valley since early morning on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both domestic and international flights to and from the TIA were interrupted since the morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">TIA General Manager Premnath Thakur said some flights were diverted due to bad weather.</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"">"Some aircraft arriving to the TIA were diverted due to bad weather and poor visibility," he shared, adding that both domestic and international flights were operated smoothly after the weather condition improved.</span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16320', 'image' => '20221222124922_tiaa.jpg', 'article_date' => '2022-12-22 12:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16578', 'article_category_id' => '1', 'title' => 'SC Orders Release of Serial Killer Charles Sobhraj', 'sub_title' => '', 'summary' => 'December 22: The Supreme Court (SC) has issued an order to release serial kicker Charles Sobhraj Gurumukh considering his age and send him back to his country within two weeks. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Supreme Court (SC) has issued an order to release serial kicker Charles Sobhraj Gurumukh considering his age and send him back to his country within two weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of justices Sapana Pradhan Malla and Til Prasad Shrestha issued the order on Wednesday directing the concerned officials to send this message to the Prison Office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“If it is not necessary to imprison him for other cases, he needs to be released and arrangement made to send him back to his home within 15 days,” the order stated. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In response to a writ petition filed by Sobhraj’s lawyer, the justices noted that the convict is already 75-years-old and is under medication for heart disease. He has also served 75 percent (19 years) of his jail term. So, it is not reasonable to keep him in prison from the legal viewpoint and from the perspective of prisoners’ human rights, the court order stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2003, the District Court Bhaktapur had slapped a lifetime imprisonment along with confiscation of all property of the French national Sobhraj, who is known as the serial bikini killer, for murder cases that dates back to the 1970s. </span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><br /> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16319', 'image' => '20221222120421_Supreme Court.jpg', 'article_date' => '2022-12-22 12:03:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16577', 'article_category_id' => '1', 'title' => 'Problematic Cooperative Reopens after Three Months', 'sub_title' => '', 'summary' => 'December 21: A cooperative which was closed for three months without refunding the depositors’ money has started operation again. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: A cooperative which was closed for three months without refunding the depositors’ money has started operation again. Manjushree Saving and Credit Cooperative Limited in Gokarneshwar Municipality-5 was closed from August 10. After its closure, the cooperative had issued a notice regarding the deadline for returning money to depositors. The chairman of the cooperative, Indra Lama said that the office of the cooperative will now be opened regularly and business will be done as usual. He said that there was a problem when the employee who was given the responsibility operate the cooperative did not take responsibility. The cooperative expressed its commitment that all depositors will get their principal back along with interest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The depositors stated that they are also cooperating with the cooperative after it resumed operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The major concern of depositors is that they are unable to withdraw their money when needed despite having deposited millions of rupees in the cooperative. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lama said that the cooperative was unable to return the money because the borrowers were yet to pay the loan. He said that the cooperative owes Rs 110 million to the depositors while it has given out loans of Rs 70 million. It has a building worth Rs 50 million and a total capital of Rs 130 million. Therefore, Lama assured that the cooperative will pay back the depositors anyhow.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Indra Lama has been the chairman of the cooperative since 2018. Before that, Samden Lama worked as the chairman. Samden was the chairman since the establishment of the cooperative in 2006. Vice Chairman Bijaya Tamang said that more than 90 percent of the nearly Rs 70 million loans disbursed by the cooperative are from the time Samden Lama was the chairman.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> “When I went to the house of many debtors to collect the loan, they used to say that they took the loan from Samden, and have already settled the matter with him. Meanwhile, Samden says he will come to the office soon and manage everything, but he does not come. Now, we will raise this issue at the general assembly,” said Tamang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the debt recovery of the cooperative halted, the directors started blaming each other. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former secretary Amar Nath Ghimire who resigned from the cooperative, said, “Cooperatives should be operated with the cooperation of all the directors and share members. It seems that problems arise in many cooperatives when the members act like the chairman and the chairman runs cooperative like a personal company. It is not the principle of cooperatives to operate in this manner.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Other problematic cooperatives including Bauddha-based Sumo Savings and Credit Cooperative, Mukti Savings and Credit Cooperative of at Gokarneshwar-6, Swarna Lakshmi Savings and Credit Cooperative of Gokarneshwar-5 and Kageshwari Savings and Credit Cooperative of Kageshwari Manohara Municipality-8 are still closed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16318', 'image' => '20221221025707_coop.jpg', 'article_date' => '2022-12-21 14:56:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16576', 'article_category_id' => '1', 'title' => 'NEA to Remove Wires and Cables Placed Haphazardly ', 'sub_title' => '', 'summary' => 'December 21: Nepal Electricity Authority (NEA) is planning to remove unsystematic cables placed along the Tripureshwar-Budhanilkantha area. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 21: Nepal Electricity Authority (NEA) is planning to remove unsystematic cables placed along the Tripureshwar-Budhanilkantha area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a public notice on Tuesday, the NEA said that it would get rid of the wires placed unsystematically on the electric poles along with the unused optical fibers and equipment fixed on the poles haphazardly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA had time and again urged the concerned service providers to pullout such cables. After the service providers using NEA’s poles seemed reluctant to remove the cables, the state-owned public utility decided to remove them on its own.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The notice says that the NEA will remove the cables in between Tripureshwar and Budhanilkantha that includes areas such as Sundhara, Ratna Park, Keshar Mahal, Lainchaur, Lazimpat and Narayan Gopal Chowk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> NEA said it decided to remove the cables in line with Article 19 of NEA Act- 1984 and it will not be responsible for any possible damages during the removal of wires. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NEA also apologized to the users of telephone, internet, cable TV and other services for any inconveniences caused by the removal of the cables.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16317', 'image' => '20221221014959_Untitled.jpg', 'article_date' => '2022-12-21 13:49:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16575', 'article_category_id' => '1', 'title' => 'Nepal Exported Carpets to 69 Countries', 'sub_title' => '', 'summary' => 'December 21: Nepal exported carpets to 69 countries in the fiscal year 2021/22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 21: Nepal exported carpets to 69 countries in the fiscal year 2021/22. The country earned foreign currency worth Rs 9 billion through the export of carpets, which is one of the major export products of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the carpets were sold to the USA, Germany and the UK. Out of the total exports, more than half of the carpets were exported to the USA. Carpets worth Rs 5.56 billion were exported to the USA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although Nepal exported carpets to 69 countries, only 27 of them imported carpets worth more than Rs 10 million. The other countries imported carpets worth Rs 28,000 to Rs 8.1 million, according to the records of the Department of Customs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal has been exporting carpets across the globe since a long time. Carpet is the major export product of Nepal which is manufactured using home-grown raw materials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other products that Nepal exports include soybean oil, palm oil, polyster and yarn, jute and jute products, ready-made garments, juice, sunflower oil, cardamom, felt, tea, pashmina shawls, dog feed, iron and iron products, noodles, hand-made papers, resin and herbs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, soybean oil, palm oil and sunflower oil are prepared using imported raw materials. Although export of edible oils top the list of exported items, they do not fall under the category of domestically produced goods. Therefore, carpet tops the list of major export item made from domestically produced materials.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16316', 'image' => '20221221125348_1671462398.1658270775.Clipboard22.jpg', 'article_date' => '2022-12-21 12:53:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16574', 'article_category_id' => '1', 'title' => 'Development Works Fail to Gather Pace even a Month after Election', 'sub_title' => '', 'summary' => 'December 21: It was widely anticipated that the development and construction works would speed up after the general election. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: It was widely anticipated that the development and construction works would speed up after the general election. However, that has not happened even a month after the November 20 election.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The tender bids called by the government itself is less at the moment compared to the past, and due to the lack of bilateral agreements for foreign loans and grants, there has been a delay in the disbursement of the construction budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It has been one month since the election but the construction works are to gather pace. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation of Contractors Association of Nepal, said that although construction should speed up, the situation is not conducive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said that the government has not released the payment fully. Although, the work has started on a minimal basis, the results are not visible, added Singh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Earlier, the government used to release mobilization fund," said Singh, "Now, that kind of money is not available." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh said that the construction business has been hit because the banks do not give loans and the mobilization funds are not given by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, the budget allocated for development works is in the state treasury. Likewise, he added that the contractors are struggling get loan from the banks. Even if they get loans, it would be problematic for them because of the high interest rates, added Singh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh further said that the demand for construction materials has decreased due to the decline in construction works. On the other hand, they have to pay double the price to purchase fuel. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Earlier, it used to cost Rs 900,000 to buy a full tanker of fuel, but now we have to pay Rs 1.8 million," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16315', 'image' => '20221221115400_SanebahadurNepali_Tanahun_RSS_06_poolnirman.jpg', 'article_date' => '2022-12-21 11:48:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16573', 'article_category_id' => '266', 'title' => 'Vivek Oberoi takes a Tour on Annapurna Cable Car', 'sub_title' => '', 'summary' => 'December 21: Bollywood actor Vivek Oberoi, who arrived in Nepal last Wednesday, visited the Annapurna Cable Car with is family earlier this week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: Bollywood actor Vivek Oberoi, who arrived in Nepal last Wednesday, visited the Annapurna Cable Car with is family earlier this week. He traveled from Sedi to Sarangkot through the Annapurna Cable Car in Pokhara.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He expressed excitement to see the beautiful lakes and other scenic views in Pokhara during the cable car journey. Arun Koirala, marketing manager of Annapurna Cable Car had welcomed actor Oberoi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The cable car, which started operation from Sedi in Pokhara to Sarangkot about a year ago, has become an attractive destination for domestic and foreign tourists visiting Pokhara. The cable car operates from 5 am to 5:30 pm every day. It has been facilitating visitors who wish to see sunrise from Sarangkot.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => 'Vivek, Oberoi, Annapurna, Nepal, visit, Pokhara, cable, car, lake, scenic, view', 'description' => '', 'sortorder' => '16314', 'image' => '20221221112228_1671489026.Clipboard10.jpg', 'article_date' => '2022-12-21 11:20:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16572', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 57 Billion, Credit Flow Limited to Rs 2 Billion', 'sub_title' => '', 'summary' => 'December 21: The deposits of commercial banks increased by 57.22 billion from mid-November to mid-December. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: The deposits of commercial banks increased by 57.22 billion from mid-November to mid-December. The bank deposits increased due to the improvement in remittance inflow and the money withdrawn from banks during the election returning back to the banking system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Bankers Association, the total deposits of commercial banks increased from Rs 4563 billion in mid-November to Rs 4621 billion in mid-December. According to the latest report of Nepal Rastra Bank on Current Macroeconomic and Financial Situation of Nepal, the economic indicators have improved due to decline in inflation rate from mid-November to mid-December and increase in foreign exchange reserves and remittance inflow. By mid-December, the remittance inflow has reached Rs 378 billion. This is 20.4 percent more than the inflow of remittance in the previous year. In mid-October to mid-November alone, the country received remittance of Rs 96 billion. The bank deposits have been positively impacted due to the improvement in the economic indicators.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although bank deposits have increased, loan extension has been comparatively low. The credit flow of banks amounted to just Rs 2 billion in mid-November to mid-December. According to the association, the credit portfolio of banks which was Rs 4222 billion in mid-November climbed to Rs 4224 billion in mid-December. Due to the increase in deposit collection and the decline in credit flow, the liquidity situation in the banks is becoming easier. The total credit to deposit ratio (CD ratio) of commercial banks fell to 86.40 percent by mid-December. As per the instructions of the central bank, this ratio should be maintained at 90 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data published by the NRB, deposits in banks and financial institutions increased by 0.9 percent by mid-November of the current financial year. During the same period of the previous year, such deposits increased by 1.3 percent. In between mid-October to mid-November, the credit flow of banks and financial institutions increased by 1.5 percent. The average base rate of commercial banks was 7.2 percent last by mid-November last year, but this year it has remained at 10.60 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => 'Bank, deposit, collection, NBA, credit, flow, central, Nepal, Rastra, CD ratio', 'description' => '', 'sortorder' => '16313', 'image' => '20221221110200_Banks - Copy.jpg', 'article_date' => '2022-12-21 11:00:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16571', 'article_category_id' => '1', 'title' => 'NEA Sells Energy worth Rs 11.16 Billion to India', 'sub_title' => '', 'summary' => 'December 20: Nepal Electricity Authority (NEA) has exported 1,357,757,000 units of electricity to India.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 20: Nepal Electricity Authority (NEA) has exported 1,357,757,000 units of electricity to India. The state-owned power utility made an income of Rs 11.16 billion from the export of power between June 2 to December 18. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had sold surplus electricity to India during the rainy season after fulfilling the demand for electricity in the domestic market. It had started selling power in the 'day-ahead market' of the Indian Energy Exchange Limited (IEX) through competitive bidding process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Indian currency worth INR 6,976,900,000 entered Nepal through power sale as the electricity trade with India is done in the Indian currency. This has also contributed to increasing the country's foreign currency reserves. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The electricity sale was started in the IEX on a daily basis, considering the 39 megawatts power generated from two hydroelectricity centres in the beginning. The power generated from six hydroelectricity projects was taken as the source and 364 megawatts power was sold in the Indian market since June 10. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had obtained permission to export power from additional two hydroelectricity projects since November 4 and 16. With this, the approved capacity for export to India reached 408 megawatts, considering the electricity generated from eight hydroelectricity powerhouses as the source. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had made an income of Rs 2,838,800,000 through the export of 299,100,000 units of electricity between May 15 to July 16. It earned Rs 8,324,240,000 through the export of 1,586,034,000 units of power as of December 18 in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA executive director Kulman Ghising informed that power export has been stopped now with the decrease in power production from run-of-the-river type projects with the decline in volume of water in the rivers and increasing demand for power across the country, including in Kathmandu with the onset of winter. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-12-20', 'modified' => '2022-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '16312', 'image' => '20221220050900_20210111032406_1610322387.1.jpg', 'article_date' => '2022-12-20 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16569', 'article_category_id' => '1', 'title' => 'Investment Scope of Insurance Companies Increases', 'sub_title' => '', 'summary' => 'December 20: Nepal Insurance Authority has changed the investment guidelines for insurance companies.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">December 20: Nepal Insurance Authority has changed the investment guidelines for insurance companies. After criticism that the capital of the companies was accumulated only in fixed deposits of banks and financial institutions, the authority changed the guidelines and widened the scope.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The investment guidelines issued in four years ago opened the door for insurance companies to invest in infrastructure and productive sectors including real estate business and water resources, agriculture, and tourism. The then Insurance Board at that time had instructed insurance companies to invest according to the guidelines a year ago, saying that the companies were not investing in the infrastructure development sector. However, the insurance companies have not been attracted to the new sectors.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">In the instructions issued separately for life, non-life, reinsurance and micro insurance companies, the newly-revamped insurance authority has directed those companies to reduce the amount to be kept in the banks’ term deposits and increased the portion of investments to be made in agriculture, hydropower, infrastructure, among other areas.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the guidelines, life insurance companies will be allowed to invest up to 25 per cent of the total investment in government bonds and non-life and reinsurance companies will be allowed to invest up to 20 per cent. Similarly, all types of insurance companies are allowed to keep a minimum of 30 per cent of their total investment in the fixed deposits of commercial banks and infrastructure development banks, 10 percent in development banks and finance companies. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Earlier, insurance companies had to invest at least 40 per cent of their total technical reserves in term deposits of commercial banks and infrastructure development banks. In addition, there was a provision to invest a maximum of 20 per cent in the deposits of development banks and a maximum of 10 per cent in finance companies.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Surya Prasad Silwal, chairman of the authority, said that the scope was increased after receiving complaints that companies could not increase investment due to the guidelines. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the authority's data, insurance companies have invested a total of Rs 527.8 billion in the fiscal year 2021/22.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Of that amount, Rs 408.43 billion (77.48 per cent) have been invested in fixed deposits of banks and financial institutions, Rs 7.45 billion (1.41 percent) have been invested in the infrastructure sector. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-20', 'modified' => '2022-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '16311', 'image' => '20221220100815_Insurance.jpg', 'article_date' => '2022-12-20 10:07:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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 133]file not found!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' => '16584', 'article_category_id' => '1', 'title' => 'Nepal Labour Migration Report 2022 Launched', 'sub_title' => '', 'summary' => 'December 22: Nepal’s Ministry of Labour, Employment and Social Security in collaboration with the International Organization for Migration (IOM), the International Labour Organization (ILO), and Safer Migration Programme (SaMI) jointly launched the ‘Nepal Labour Migration Report 2022’ on International Migrants Day on December 18.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 22: Nepal’s Ministry of Labour, Employment and Social Security in collaboration with the International Organization for Migration (IOM), the International Labour Organization (ILO), and Safer Migration Programme (SaMI) jointly launched the ‘Nepal Labour Migration Report 2022’ on International Migrants Day on December 18. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report encapsulates the major trends and activities in the country’s labour migration sector covering the period between 2019/2020 and 2021/2022 which follows the efforts of the ministry to periodically present a comprehensive overview of labour migration in Nepal, reads a joint statement issued by the ministry and its partner organisations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, the ministry has adopted and implemented a range of policies and legal instruments to address labour migration related issues in the country such as shifting labour migration related services to online system, adopting new directives and procedures for the reintegration of returnee migrant workers, as well as significant modification on immigration policies especially aiming the migrants in major countries of destination. Despite this progress, Nepali migrant workers’ health and safety issues as well as cases of fraud, abuse and exploitation continue to occur in unignorable numbers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report stresses the importance of ‘informed migration’, awareness, sensitization, and the need for implementing country specific pre-departure orientation as well as post-arrival orientation for migrants. Similarly, the report appeals to support the government’s efforts to ensure fair and ethical recruitment, including the implementation of the ‘employer pays’ principle, which means the costs of recruitment should be borne by the employer not by the worker. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Labour Migration has been a common livelihood strategy for Nepalese households over the recent decades. According to the World Bank, remittances contributed 24 percent of the country’s GDP in the year 2021. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing the event in capacity of the Chief Guest, Minister for Labour, Employment and Social Security Sher Bahadur Kunwar extended his best wishes to all the migrants on the occasion of the International Migrants Day, and wished for an environment where all labour migrants can be proud of their work and be able to be united for their rights.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The report will be a useful resource for everyone for it has covered every aspect of migration including its shifting dynamics,” said Minister Kunwar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“I am glad that we have been able to continue to join hands with the government and other key stakeholders in presenting such report covering every aspects of the labour migration sector in Nepal , which I believe will eventually contribute to strengthening labour migration governance and ensuring safe, orderly and dignified labour migration in Nepal, envisioned by the Sustainable Development Goals and the Global Compact for Migration (GCM),” said Lorena Lando, IOM Nepal Chief of Mission . </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IOM, the ILO and Sami had supported the government in developing the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives from various other government agencies, civil society, development partners, academia, researchers, the United Nations, and other national and international organizations were among the attendees of the event. </span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">***</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16325', 'image' => '20221222063608_IMG_2331.jpg', 'article_date' => '2022-12-22 18:35:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16583', 'article_category_id' => '266', 'title' => 'NIBL Ace Capital- One Stop Solution for Investors and Investee ', 'sub_title' => '', 'summary' => 'December 22: In today's fast-paced globalized business world, most organizations are struggling to stay afloat and keep up with their competitors.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 22: In today's fast-paced globalized business world, most organizations are struggling to stay afloat and keep up with their competitors. Businesses and organizations must constantly change and transform in order to remain competitive and relevant in today's complex and changing global environment. To deal with the complexities of the business world, corporate advisory and consulting service came into existence.</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 context of Nepal, institutions registered under the prevailing laws have been providing corporate advisory services. But now with regulatory reforms, SEBON has opened doors for corporate advisory service by providing license to eligible merchant bankers for providing corporate advisory services. This indeed has added merchant bankers’ business avenues. In the earlier stages, majority of the merchant bankers were focused in providing mainly RTA/RTS and issue management services. Recently, advisory services have become a major domain of work for merchant bankers.</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"">Merchant bankers being the main connecting link between capital market and corporate world, advisory service has added more scope of work to merchant bankers to facilitate corporate world in corporate issues and bringing them to capital market in terms of capital funding, merger and acquisition, financial projection, valuations, escrow agency, loan syndication, capital structuring and making IPO compliant to tap the capital market by floating shares to public.</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"">Besides that, corporate advisory service has been facilitating the companies in capital funding who have been refrained from financial access due to lack of collateral, debt equity ratio mismatch and unjustifiable financial statement due to the nature of business. In initial days, corporate advisory used to connect investors to investee for filling these funding gaps, but now with introduction of Specialized Investment Fund Regulations 2075, SEBON has opened doors for private equity funds as a new financing source for prospective business that are restricted to financial access due to regulatory restrictions. In this regard, NIBL Ace Capital has obtained Specialized Investment Fund Manager License from SEBON and is in process of registering PE fund – probably the largest licensed PE fund from SEBON for financing the projects that have limited financial access and have potential of contributing to the growth of economy. </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"">Specialized Investment Fund Manager License has not only opened doors for prospective investee companies but also to the prospective investors who are seeking to make investment in unlisted companies and prospective projects where detailed investment analysis is required in pre investment phase and efficient portfolio management in post investment phase with proper exit strategy. This has created a one stop solution to the investee side where they can avail consultancy to investment service and deal assessment to fund management service on the investors’ side.</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 nutshell, the business dynamics are no longer limited to IPO-related merchant banking services, but the services have widened from consultancy to investment funding to the institutions project assessment to project management.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2023-01-06', 'keywords' => '', 'description' => '', 'sortorder' => '16324', 'image' => '20230106044248_collage (32).jpg', 'article_date' => '2022-12-22 18:23:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16582', 'article_category_id' => '1', 'title' => 'Night Buses Leaving Kathmandu Valley have to Set Off only from Gongabu Bus Park ', 'sub_title' => '', 'summary' => 'December 22: From now on, all night buses leaving the Kathmandu Valley with passengers for their destinations have to be parked and get off from the New Bus Park in Gongabu. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: From now on, all night buses leaving the Kathmandu Valley with passengers for their destinations have to be parked and get off from the New Bus Park in Gongabu. The move is aimed at reducing road accidents and traffic jams, said Senior Superintendent of Police Rajendra Prasad Bhatta, spokesperson for the Kathmandu Valley Traffic Police Office. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, night buses leaving the Valley would depart from various places of the Valley including Chabahil, Gaushala, Koteshwar, Kalanki, Gongabu and Machhapokhari. Rampant parking of the buses elsewhere caused traffic jams and road accidents, said SSP Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Night passenger vehicles leaving from the Valley from various parts have caused traffic congestion. So, this new arrangement has been made," he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">President of the Federation of Nepalese National Transport Entrepreneurs, Bijaya Bahadur Swar stressed the need for the transport sector to provide service to people in an easy and accessible way. “Arrangements should be made for the buses to pick and drop passengers elsewhere along the Ring Road, and park at the Bus Park,” he demanded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also expressed his concern about the increment of fines for violating traffic rules from Rs 500 to Rs 1,500. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A fully authorised transport authority should be formed to manage this sector, he said. The parking lot at the Bus Park has capacity of parking more than 2,000 vehicles at a time. The parking of the Bus Park lot spanning across 161 ropanis of lands was constructed in 2056 BS under the public private partnership. Passenger buses leave the Bus Park for more than 60 districts. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16323', 'image' => '20221222061246_Transport.jpg', 'article_date' => '2022-12-22 18:11:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16581', 'article_category_id' => '1', 'title' => 'Directive to Install Embossed Number Plates by mid-March ', 'sub_title' => '', 'summary' => 'December 22: The Department of Transport Management has issued directives to the concerned authorities to ensure that the government-owned vehicles have embossed registration number plates installed by mid-March 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Department of Transport Management has issued directives to the concerned authorities to ensure that the government-owned vehicles have embossed registration number plates installed by mid-March 2022. </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"">Any government-owned vehicle without embossed number plates will be fined Rs 2000 following the end of the deadline as per the Vehicle and Transport Management Act, 2049 BS, the Department said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of the Department, Dr Tokraj Pandey, said that government-owned vehicles were found to have not paid tax as much as for 10 years and hence were instructed to install embossed number plates. The installation of embossed number plates has been taken as a means of collecting taxes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department said that the tax must be cleared at the time of installation of embossed number plates. The directive of the department to install embossed registration number plates will increase the revenue of the government and the process of installing embossed plates will also be easier, Dr Pandey said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16322', 'image' => '20221222025738_20221102112443_20220608081057_Department.jpg', 'article_date' => '2022-12-22 14:57:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16580', 'article_category_id' => '1', 'title' => 'Industrialists Resume Protest against High Interest Rate', 'sub_title' => '', 'summary' => 'December 22: Industrialists and businessmen of eastern Nepal have been protesting against the government’s decision ever since it announced the budget for the current fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 22: Industrialists and businessmen of eastern Nepal have been protesting against the government’s decision ever since it announced the budget for the current fiscal year. The business community is dissatisfied with the high interest rates on loan approved by the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In a press conference held in Biratnagar on Wednesday, the industrialists announced that they will take to the streets from Thursday as the government failed to address their demands. They have said that they will close the Biratnagar market on Thursday and picket the provincial office of Nepal Rastra Bank at Hatkhola from 10 am to 4 pm.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The agitating industrialists informed during the press conference that they have decided to hold protest programmes including market closure and sit-ins with the participation of 44 business organizations of eastern Nepal under the leadership of Morang Merchants’ Association, Province 1 chapter of CNI and Chamber of Industries Morang.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The industrialists argued that they had to hit the street because the NRB ignored the issue of high interest rates of banks.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nand Kishore Rathi, vice president of Chamber of Industries Morang, said that NRB kept silent even when the interest rates were raised arbitrarily. We condemn it and that's why we are on strike, he added.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Naveen Rijal, president of Morang Merchants’ Association, said that they submitted the letters to the Finance Minister, Finance Secretary and the Governor of Nepal Rastra Bank before starting the street protest. He said that they were compelled to resume the protest as there was no alternative left other than to hit the streets. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rijal said that they decided to resume street protest to press the government to fulfil the five-point demand of businessmen. According to him, the movement had to be done not because of their desire but due to compulsion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The businessmen have demanded that working capital loan guidelines should be removed, interest rate should be reduced to a single digit, and the spread rate be kept at 2 percent. Likewise, they have demanded the institutional interest rate should be maintained at 2 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Businessmen have taken to the streets twice this year against government policies. The movement that started about two months ago was stopped at the request of the Federation of Nepalese Chamber of Commerce and Industry in view of the general elections on November 20.</span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16321', 'image' => '20221222021947_Chamber of industries morang new.jpg', 'article_date' => '2022-12-22 14:19:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16579', 'article_category_id' => '1', 'title' => 'Flights Disrupted at Tribhuwan International Airport for Some Hours', 'sub_title' => '', 'summary' => 'December 22: Regular flights were disrupted for some hours at the Tribhuwan International Airport (TIA) due to foggy weather in the Kathmandu Valley since early morning on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: Regular flights were disrupted for some hours at the Tribhuwan International Airport (TIA) due to foggy weather in the Kathmandu Valley since early morning on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both domestic and international flights to and from the TIA were interrupted since the morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">TIA General Manager Premnath Thakur said some flights were diverted due to bad weather.</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"">"Some aircraft arriving to the TIA were diverted due to bad weather and poor visibility," he shared, adding that both domestic and international flights were operated smoothly after the weather condition improved.</span></span></span></p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16320', 'image' => '20221222124922_tiaa.jpg', 'article_date' => '2022-12-22 12:48:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16578', 'article_category_id' => '1', 'title' => 'SC Orders Release of Serial Killer Charles Sobhraj', 'sub_title' => '', 'summary' => 'December 22: The Supreme Court (SC) has issued an order to release serial kicker Charles Sobhraj Gurumukh considering his age and send him back to his country within two weeks. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Supreme Court (SC) has issued an order to release serial kicker Charles Sobhraj Gurumukh considering his age and send him back to his country within two weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A division bench of justices Sapana Pradhan Malla and Til Prasad Shrestha issued the order on Wednesday directing the concerned officials to send this message to the Prison Office. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“If it is not necessary to imprison him for other cases, he needs to be released and arrangement made to send him back to his home within 15 days,” the order stated. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In response to a writ petition filed by Sobhraj’s lawyer, the justices noted that the convict is already 75-years-old and is under medication for heart disease. He has also served 75 percent (19 years) of his jail term. So, it is not reasonable to keep him in prison from the legal viewpoint and from the perspective of prisoners’ human rights, the court order stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2003, the District Court Bhaktapur had slapped a lifetime imprisonment along with confiscation of all property of the French national Sobhraj, who is known as the serial bikini killer, for murder cases that dates back to the 1970s. </span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><br /> </p> ', 'published' => true, 'created' => '2022-12-22', 'modified' => '2022-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '16319', 'image' => '20221222120421_Supreme Court.jpg', 'article_date' => '2022-12-22 12:03:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16577', 'article_category_id' => '1', 'title' => 'Problematic Cooperative Reopens after Three Months', 'sub_title' => '', 'summary' => 'December 21: A cooperative which was closed for three months without refunding the depositors’ money has started operation again. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: A cooperative which was closed for three months without refunding the depositors’ money has started operation again. Manjushree Saving and Credit Cooperative Limited in Gokarneshwar Municipality-5 was closed from August 10. After its closure, the cooperative had issued a notice regarding the deadline for returning money to depositors. The chairman of the cooperative, Indra Lama said that the office of the cooperative will now be opened regularly and business will be done as usual. He said that there was a problem when the employee who was given the responsibility operate the cooperative did not take responsibility. The cooperative expressed its commitment that all depositors will get their principal back along with interest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The depositors stated that they are also cooperating with the cooperative after it resumed operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The major concern of depositors is that they are unable to withdraw their money when needed despite having deposited millions of rupees in the cooperative. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lama said that the cooperative was unable to return the money because the borrowers were yet to pay the loan. He said that the cooperative owes Rs 110 million to the depositors while it has given out loans of Rs 70 million. It has a building worth Rs 50 million and a total capital of Rs 130 million. Therefore, Lama assured that the cooperative will pay back the depositors anyhow.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Indra Lama has been the chairman of the cooperative since 2018. Before that, Samden Lama worked as the chairman. Samden was the chairman since the establishment of the cooperative in 2006. Vice Chairman Bijaya Tamang said that more than 90 percent of the nearly Rs 70 million loans disbursed by the cooperative are from the time Samden Lama was the chairman.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> “When I went to the house of many debtors to collect the loan, they used to say that they took the loan from Samden, and have already settled the matter with him. Meanwhile, Samden says he will come to the office soon and manage everything, but he does not come. Now, we will raise this issue at the general assembly,” said Tamang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the debt recovery of the cooperative halted, the directors started blaming each other. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former secretary Amar Nath Ghimire who resigned from the cooperative, said, “Cooperatives should be operated with the cooperation of all the directors and share members. It seems that problems arise in many cooperatives when the members act like the chairman and the chairman runs cooperative like a personal company. It is not the principle of cooperatives to operate in this manner.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Other problematic cooperatives including Bauddha-based Sumo Savings and Credit Cooperative, Mukti Savings and Credit Cooperative of at Gokarneshwar-6, Swarna Lakshmi Savings and Credit Cooperative of Gokarneshwar-5 and Kageshwari Savings and Credit Cooperative of Kageshwari Manohara Municipality-8 are still closed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16318', 'image' => '20221221025707_coop.jpg', 'article_date' => '2022-12-21 14:56:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16576', 'article_category_id' => '1', 'title' => 'NEA to Remove Wires and Cables Placed Haphazardly ', 'sub_title' => '', 'summary' => 'December 21: Nepal Electricity Authority (NEA) is planning to remove unsystematic cables placed along the Tripureshwar-Budhanilkantha area. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 21: Nepal Electricity Authority (NEA) is planning to remove unsystematic cables placed along the Tripureshwar-Budhanilkantha area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a public notice on Tuesday, the NEA said that it would get rid of the wires placed unsystematically on the electric poles along with the unused optical fibers and equipment fixed on the poles haphazardly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA had time and again urged the concerned service providers to pullout such cables. After the service providers using NEA’s poles seemed reluctant to remove the cables, the state-owned public utility decided to remove them on its own.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The notice says that the NEA will remove the cables in between Tripureshwar and Budhanilkantha that includes areas such as Sundhara, Ratna Park, Keshar Mahal, Lainchaur, Lazimpat and Narayan Gopal Chowk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> NEA said it decided to remove the cables in line with Article 19 of NEA Act- 1984 and it will not be responsible for any possible damages during the removal of wires. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NEA also apologized to the users of telephone, internet, cable TV and other services for any inconveniences caused by the removal of the cables.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16317', 'image' => '20221221014959_Untitled.jpg', 'article_date' => '2022-12-21 13:49:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16575', 'article_category_id' => '1', 'title' => 'Nepal Exported Carpets to 69 Countries', 'sub_title' => '', 'summary' => 'December 21: Nepal exported carpets to 69 countries in the fiscal year 2021/22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 21: Nepal exported carpets to 69 countries in the fiscal year 2021/22. The country earned foreign currency worth Rs 9 billion through the export of carpets, which is one of the major export products of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the carpets were sold to the USA, Germany and the UK. Out of the total exports, more than half of the carpets were exported to the USA. Carpets worth Rs 5.56 billion were exported to the USA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although Nepal exported carpets to 69 countries, only 27 of them imported carpets worth more than Rs 10 million. The other countries imported carpets worth Rs 28,000 to Rs 8.1 million, according to the records of the Department of Customs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal has been exporting carpets across the globe since a long time. Carpet is the major export product of Nepal which is manufactured using home-grown raw materials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other products that Nepal exports include soybean oil, palm oil, polyster and yarn, jute and jute products, ready-made garments, juice, sunflower oil, cardamom, felt, tea, pashmina shawls, dog feed, iron and iron products, noodles, hand-made papers, resin and herbs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, soybean oil, palm oil and sunflower oil are prepared using imported raw materials. Although export of edible oils top the list of exported items, they do not fall under the category of domestically produced goods. Therefore, carpet tops the list of major export item made from domestically produced materials.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16316', 'image' => '20221221125348_1671462398.1658270775.Clipboard22.jpg', 'article_date' => '2022-12-21 12:53:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16574', 'article_category_id' => '1', 'title' => 'Development Works Fail to Gather Pace even a Month after Election', 'sub_title' => '', 'summary' => 'December 21: It was widely anticipated that the development and construction works would speed up after the general election. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: It was widely anticipated that the development and construction works would speed up after the general election. However, that has not happened even a month after the November 20 election.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The tender bids called by the government itself is less at the moment compared to the past, and due to the lack of bilateral agreements for foreign loans and grants, there has been a delay in the disbursement of the construction budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It has been one month since the election but the construction works are to gather pace. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation of Contractors Association of Nepal, said that although construction should speed up, the situation is not conducive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said that the government has not released the payment fully. Although, the work has started on a minimal basis, the results are not visible, added Singh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Earlier, the government used to release mobilization fund," said Singh, "Now, that kind of money is not available." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh said that the construction business has been hit because the banks do not give loans and the mobilization funds are not given by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, the budget allocated for development works is in the state treasury. Likewise, he added that the contractors are struggling get loan from the banks. Even if they get loans, it would be problematic for them because of the high interest rates, added Singh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh further said that the demand for construction materials has decreased due to the decline in construction works. On the other hand, they have to pay double the price to purchase fuel. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Earlier, it used to cost Rs 900,000 to buy a full tanker of fuel, but now we have to pay Rs 1.8 million," he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '16315', 'image' => '20221221115400_SanebahadurNepali_Tanahun_RSS_06_poolnirman.jpg', 'article_date' => '2022-12-21 11:48:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16573', 'article_category_id' => '266', 'title' => 'Vivek Oberoi takes a Tour on Annapurna Cable Car', 'sub_title' => '', 'summary' => 'December 21: Bollywood actor Vivek Oberoi, who arrived in Nepal last Wednesday, visited the Annapurna Cable Car with is family earlier this week.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: Bollywood actor Vivek Oberoi, who arrived in Nepal last Wednesday, visited the Annapurna Cable Car with is family earlier this week. He traveled from Sedi to Sarangkot through the Annapurna Cable Car in Pokhara.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He expressed excitement to see the beautiful lakes and other scenic views in Pokhara during the cable car journey. Arun Koirala, marketing manager of Annapurna Cable Car had welcomed actor Oberoi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The cable car, which started operation from Sedi in Pokhara to Sarangkot about a year ago, has become an attractive destination for domestic and foreign tourists visiting Pokhara. The cable car operates from 5 am to 5:30 pm every day. It has been facilitating visitors who wish to see sunrise from Sarangkot.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => 'Vivek, Oberoi, Annapurna, Nepal, visit, Pokhara, cable, car, lake, scenic, view', 'description' => '', 'sortorder' => '16314', 'image' => '20221221112228_1671489026.Clipboard10.jpg', 'article_date' => '2022-12-21 11:20:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16572', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 57 Billion, Credit Flow Limited to Rs 2 Billion', 'sub_title' => '', 'summary' => 'December 21: The deposits of commercial banks increased by 57.22 billion from mid-November to mid-December. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: The deposits of commercial banks increased by 57.22 billion from mid-November to mid-December. The bank deposits increased due to the improvement in remittance inflow and the money withdrawn from banks during the election returning back to the banking system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Nepal Bankers Association, the total deposits of commercial banks increased from Rs 4563 billion in mid-November to Rs 4621 billion in mid-December. According to the latest report of Nepal Rastra Bank on Current Macroeconomic and Financial Situation of Nepal, the economic indicators have improved due to decline in inflation rate from mid-November to mid-December and increase in foreign exchange reserves and remittance inflow. By mid-December, the remittance inflow has reached Rs 378 billion. This is 20.4 percent more than the inflow of remittance in the previous year. In mid-October to mid-November alone, the country received remittance of Rs 96 billion. The bank deposits have been positively impacted due to the improvement in the economic indicators.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although bank deposits have increased, loan extension has been comparatively low. The credit flow of banks amounted to just Rs 2 billion in mid-November to mid-December. According to the association, the credit portfolio of banks which was Rs 4222 billion in mid-November climbed to Rs 4224 billion in mid-December. Due to the increase in deposit collection and the decline in credit flow, the liquidity situation in the banks is becoming easier. The total credit to deposit ratio (CD ratio) of commercial banks fell to 86.40 percent by mid-December. As per the instructions of the central bank, this ratio should be maintained at 90 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data published by the NRB, deposits in banks and financial institutions increased by 0.9 percent by mid-November of the current financial year. During the same period of the previous year, such deposits increased by 1.3 percent. In between mid-October to mid-November, the credit flow of banks and financial institutions increased by 1.5 percent. The average base rate of commercial banks was 7.2 percent last by mid-November last year, but this year it has remained at 10.60 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-21', 'modified' => '2022-12-21', 'keywords' => 'Bank, deposit, collection, NBA, credit, flow, central, Nepal, Rastra, CD ratio', 'description' => '', 'sortorder' => '16313', 'image' => '20221221110200_Banks - Copy.jpg', 'article_date' => '2022-12-21 11:00:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16571', 'article_category_id' => '1', 'title' => 'NEA Sells Energy worth Rs 11.16 Billion to India', 'sub_title' => '', 'summary' => 'December 20: Nepal Electricity Authority (NEA) has exported 1,357,757,000 units of electricity to India.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 20: Nepal Electricity Authority (NEA) has exported 1,357,757,000 units of electricity to India. The state-owned power utility made an income of Rs 11.16 billion from the export of power between June 2 to December 18. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had sold surplus electricity to India during the rainy season after fulfilling the demand for electricity in the domestic market. It had started selling power in the 'day-ahead market' of the Indian Energy Exchange Limited (IEX) through competitive bidding process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Indian currency worth INR 6,976,900,000 entered Nepal through power sale as the electricity trade with India is done in the Indian currency. This has also contributed to increasing the country's foreign currency reserves. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The electricity sale was started in the IEX on a daily basis, considering the 39 megawatts power generated from two hydroelectricity centres in the beginning. The power generated from six hydroelectricity projects was taken as the source and 364 megawatts power was sold in the Indian market since June 10. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had obtained permission to export power from additional two hydroelectricity projects since November 4 and 16. With this, the approved capacity for export to India reached 408 megawatts, considering the electricity generated from eight hydroelectricity powerhouses as the source. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA had made an income of Rs 2,838,800,000 through the export of 299,100,000 units of electricity between May 15 to July 16. It earned Rs 8,324,240,000 through the export of 1,586,034,000 units of power as of December 18 in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NEA executive director Kulman Ghising informed that power export has been stopped now with the decrease in power production from run-of-the-river type projects with the decline in volume of water in the rivers and increasing demand for power across the country, including in Kathmandu with the onset of winter. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-12-20', 'modified' => '2022-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '16312', 'image' => '20221220050900_20210111032406_1610322387.1.jpg', 'article_date' => '2022-12-20 17:08:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16569', 'article_category_id' => '1', 'title' => 'Investment Scope of Insurance Companies Increases', 'sub_title' => '', 'summary' => 'December 20: Nepal Insurance Authority has changed the investment guidelines for insurance companies.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">December 20: Nepal Insurance Authority has changed the investment guidelines for insurance companies. After criticism that the capital of the companies was accumulated only in fixed deposits of banks and financial institutions, the authority changed the guidelines and widened the scope.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The investment guidelines issued in four years ago opened the door for insurance companies to invest in infrastructure and productive sectors including real estate business and water resources, agriculture, and tourism. The then Insurance Board at that time had instructed insurance companies to invest according to the guidelines a year ago, saying that the companies were not investing in the infrastructure development sector. However, the insurance companies have not been attracted to the new sectors.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">In the instructions issued separately for life, non-life, reinsurance and micro insurance companies, the newly-revamped insurance authority has directed those companies to reduce the amount to be kept in the banks’ term deposits and increased the portion of investments to be made in agriculture, hydropower, infrastructure, among other areas.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the guidelines, life insurance companies will be allowed to invest up to 25 per cent of the total investment in government bonds and non-life and reinsurance companies will be allowed to invest up to 20 per cent. Similarly, all types of insurance companies are allowed to keep a minimum of 30 per cent of their total investment in the fixed deposits of commercial banks and infrastructure development banks, 10 percent in development banks and finance companies. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Earlier, insurance companies had to invest at least 40 per cent of their total technical reserves in term deposits of commercial banks and infrastructure development banks. In addition, there was a provision to invest a maximum of 20 per cent in the deposits of development banks and a maximum of 10 per cent in finance companies.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Surya Prasad Silwal, chairman of the authority, said that the scope was increased after receiving complaints that companies could not increase investment due to the guidelines. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to the authority's data, insurance companies have invested a total of Rs 527.8 billion in the fiscal year 2021/22.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Of that amount, Rs 408.43 billion (77.48 per cent) have been invested in fixed deposits of banks and financial institutions, Rs 7.45 billion (1.41 percent) have been invested in the infrastructure sector. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-20', 'modified' => '2022-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '16311', 'image' => '20221220100815_Insurance.jpg', 'article_date' => '2022-12-20 10:07:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
