December 14: The 19th Handicraft Fair organized by the Federation of Handicraft Associations of Nepal (FHAN) concluded in Kathmandu on Tuesday.…
December 14: The 19th Handicraft Fair organized by the Federation of Handicraft Associations of Nepal (FHAN) concluded in Kathmandu on Tuesday.…
December 14: Traffic along the Narayangadh-Muglin road will be halted for four hours a day to construct bridges.…
commercial banks, development banks and finance companies have decided to keep the interest rate on deposits stable for the next month of mid-December to mid-January 2023. …
December 13: The maximum temperature throughout the country is likely to be more than average and the rainfall less than average in most parts of the country during the winter this…
Vehicular movement along Narayangadh-Muglin road section will be closed to construct bridges for four hours…
Asian Hydropower Limited has opened sale of its Initial Public Offering(IPO) to the locals of project-affected Ilam district and Nepali citizens working in foreign countries from…
December 13: Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, Reuters reported citing the International Monetary Fund…
December 13: Argentina and Lionel Messi face Croatia on Tuesday in a World Cup semi-final that pits South American flair against the guile of Luka Modric and a remarkable fighting…
December 13: There were more invalid votes under the proportional representation (PR) than under the first-past-the-post (FPTP)…
Six organizations of industrialists and entrepreneurs from Syangja have submitted a 10-point demand to the Ministry of Finance and Nepal Rastra…
Compared to the last year, paddy production has increased in Palpa this…
December 12: Shivam Cements has been adjudged as the best managed company of…
December 12: Himalaya Shumsher Rana, a noted business leader, has been conferred with the “Lifetime Achievement in Business Leadership Award 2022” during the Seventh NewBiz Business Conclave and Awards on…
Minister for Finance Janardan Sharma has said that recent challenges Nepal’s economy has been facing including the slow economic growth and shortage of liquidity have resulted from the lack of implementation of economic and business policies introduced by the…
December 12: Economists and policymakers have underlined the need to utilize the recent challenges to overhaul the country’s legal and regulatory systems to ease the process of doing business and prevent the economy from plunging into…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16523', 'article_category_id' => '1', 'title' => 'Handicraft Fair Concludes with Business of Rs 100 Million ', 'sub_title' => '', 'summary' => 'December 14: The 19th Handicraft Fair organized by the Federation of Handicraft Associations of Nepal (FHAN) concluded in Kathmandu on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: The 19th Handicraft Fair organized by the Federation of Handicraft Associations of Nepal (FHAN) concluded in Kathmandu on Tuesday. The organizer said that around 50,000 visitors attended the five-day fair which witnessed business worth Rs 100 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice-Chairman of the federation Dilli Ratna Tuladhar said that the fair has revitalized the handicraft business that suffered badly due to the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Bidya Devi Bhandari had inaugurated the fair on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the final day of the fair, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu visited the fair and handed over prizes to different individuals for their contribution to the handicraft sector. On the occasion, Minister Badu said the government has launched campaigns for production growth, development and prosperity and handicraft sector is a medium to achieve the goal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister also expressed government’s readiness to address the issues faced by the handicraft sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation, Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha, Chief Minister of Bagmati Province Rajendra Pandey and Province Tourism Minister Dipendra Shrestha and other officials visited the stalls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federation has stated that exports of handicraft goods has gradually gained momentum while the demand for the handicraft products is increasing in the domestic market with the inflow of tourists. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '16264', 'image' => '20221214100725_19th-Handicraft-Trade-Fair.jpg', 'article_date' => '2022-12-14 10:06:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16522', 'article_category_id' => '1', 'title' => 'Traffic along Narayangadh-Muglin Road to Halt for Four Hours a Day ', 'sub_title' => '', 'summary' => 'December 14: Traffic along the Narayangadh-Muglin road will be halted for four hours a day to construct bridges. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: Traffic along the Narayangadh-Muglin road will be halted for four hours a day to construct bridges. A meeting of the stakeholders on Tuesday decided to halt traffic along the road for one month to build bridges. Vehicular movement will be halted from 11 am to 3 pm each day. However, emergency vehicles like ambulance and fire engines will be allowed to move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Chitwan Ashman Tamang said that the works of downsizing hills at Simaltal, Kalikhola, Tuine Khola and Chisenji will take place in this period. Passenger buses, mini and microbuses and light vehicles will be barred from plying along the Pandhrakilo Bazaar and Jugedi between 11 am to 3 pm, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, heavy vehicles including lorries, trucks, tipper trucks and tankers will be stopped from Bhateri forest to Ramnagar from 10:50 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Passenger buses heading from Kathmandu will be stopped between Muglin Bazaar and Manakamana Gate at 10:55 am, and those heading from Pokhara between Benitar and Powerhouse. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, lorries heading from Kathmandu will be halted at Lebatar at 10:45 am, and those heading from Pokhara at Aanbukhaireni. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Repair of roads sections at various other places along the Narayangadh-Muglin road will also take place during this time. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-26', 'keywords' => '', 'description' => '', 'sortorder' => '16263', 'image' => '20221214094754_20210307101257_20210203120420_20200611120202_WB Road Project.jpg', 'article_date' => '2022-12-14 09:47:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16521', 'article_category_id' => '218', 'title' => 'Bank Interest Rates to Remain Stable for Poush ', 'sub_title' => '', 'summary' => 'commercial banks, development banks and finance companies have decided to keep the interest rate on deposits stable for the next month of mid-December to mid-January 2023. ', 'content' => '<p> </p> <p><span style="font-size:18px">December 14: At a time when industrialists and entrepreneurs have been protesting against the banks and financial institutions’ increased interest rates on lending, commercial banks, development banks and finance companies have decided to keep the interest rate on deposits stable for the next month of mid-December to mid-January 2023. </span></p> <p> </p> <p><span style="font-size:18px">Nepal Bankers’ Association Chairman Anil Kumar Upadhaya said that the association had decided to give continuity to the existing interest rates which the banks have enforced for the last two months. </span></p> <p> </p> <p><span style="font-size:18px">With the decision, interest rate of 12.133 per cent per annum on fixed deposits to individual depositors will be maintained for the next month. Similarly, an interest rate of 10.133 per annum on fixed deposits to institutional depositors will be given continuity for the next month as well. </span></p> <p><span style="font-size:18px">Development banks and finance companies have also decided to keep the interest rate unchanged for the next month of mid-December to mid-January. </span></p> <p><span style="font-size:18px">Development Bankers’ Association had fixed the interest rate of 12.85 per cent on fixed deposit by reducing it by 0.15 per cent for the current month. </span></p> <p> </p> <p><span style="font-size:18px">Likewise, finance companies have been offering an interest rate of 13 per cent on 3-months’ fixed deposit and 13.30 per on 1 year’s fixed deposits for the existing month. </span></p> <p> </p> <p><span style="font-size:18px">As per the Nepal Rastra Bank’s directives, banks and financial institutions have to publish interest rate they wish to enforce every month before the beginning of new month. </span><br /> </p> <p><span style="font-size:18px">Banks can increase their interest only by 10 per cent at a time. But, citing liquidity crunch, umbrella organizations of banks and financial institutions have been controlling interest rate to ward off unhealthy competition. </span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '16262', 'image' => '20221214063849_collage (6).jpg', 'article_date' => '2022-12-14 06:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '16520', 'article_category_id' => '1', 'title' => 'Maximum Temperature during Winter to be Above Average this Year ', 'sub_title' => '', 'summary' => 'December 13: The maximum temperature throughout the country is likely to be more than average and the rainfall less than average in most parts of the country during the winter this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 13: The maximum temperature throughout the country is likely to be more than average and the rainfall less than average in most parts of the country during the winter this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The average rainfall/average temperature means the rainfall and temperature of a place for a long time (1991 to 2020). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Hydrology and Meteorology stated that the Sudurpaschim province and the districts of Lumbini Province, except Rukum West, Rolpa and Pyuthan, the central and eastern districts of Gandaki Province, including Lamjung, Syangja, Tanahun, Gorakha, among others, Dolakha of Bagmati Province and the northern districts of Province No 1, including Taplejung, Sankhuwasabha and Solukhumbu will experience the average minimum temperature whereas the rest of the regions will experience more than the average temperature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department under the Ministry of Energy, Water Resources and Irrigation has made public the estimation of the rainfall and temperature during the winter (December 1 to March 28), informed Senior Meteorologist at the Department, Indira Kandel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department, most places of the country will likely receive less than the average rainfall in the winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of less than average rainfall is 45 to 55 percent in the eastern and Tarai districts of Province No 1, including Taplejung, Panchthar, Tehrathum, Ilam, Jhapa, Morang and Sunsari, the western parts of the Madhes Province including Parsa, Bara, Rautahat among other districts, and Kathmandu, Bhaktapur, Lalitpur, Nuwakot, Makawanpur, among other districts, the central and southern districts as Kaski, Syangja and Parbat of the Gandaki Province, most of the districts of Lumbini Province and Darchula, Baitadi, Dadeldhura, Doti, Kanchanpur and Kailali in the Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the possibility of less than average rainfall is 35 to 45 percent in rest of the parts of the country except in Bajhang and Bajura districts of Sudurpaschim Province, north-western part of Humla, Mugu and Dolpa in Karnali Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the maximum temperature is likely to be more than the average throughout the country this winter, meteorologist Kandel said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of the maximum temperature being more than the average is from 55 to 65 percent in the western parts of Humla and Mugu of Karnali Province and Bajura district of Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The chances of the maximum temperature being over the average temperature is 45 to 55 percent in Solukhumbu and Ilam, Jhapa, Morang and Sunsari of Province No 1, in Kavrepalanchok, Kathmandu, Lalitpur, Bhaktapur, Nuwakot, Makawanpur, Chitwan of Bagmati Province, Parsa and Saptari districts of Madhes Province, most of the districts of Gandaki Province except the north-eastern ones, most parts of Lumbini Province and the eastern and northern parts of Karnali Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of the maximum temperature becoming more than the average is 35 to 45 percent in the rest of the regions of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16261', 'image' => '20221213060159_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-12-13 18:01:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16519', 'article_category_id' => '270', 'title' => 'Narayangadh-Muglin Road to Be Closed for Four Hours Daily ', 'sub_title' => '', 'summary' => ' Vehicular movement along Narayangadh-Muglin road section will be closed to construct bridges for four hours daily. ', 'content' => '<p><span style="font-size:18px"> <br /> <br /> December 13: Vehicular movement along Narayangadh-Muglin road section will be closed to construct bridges for four hours daily. </span><br /> </p> <p><span style="font-size:18px">A meeting held at the District Administration Office (DAO) Chitwan chaired by CDO Ashman Tamang took the decision to close the transportation service along the road for a month starting from December 20. The road will be closed from 11:00 am to 3:00 pm. </span><br /> </p> <p><span style="font-size:18px">The vehicular movement will be shut down for the construction of bridges over Kalikhola, Simtal, Tuin Khola, and Chisenji khola.</span><br /> </p> <p><span style="font-size:18px">As per the decision, passenger buses, mini bus, micro buses, and small vehicles coming from Narayangadh will be stopped from 15 Kilo market to Jugedi. Heavy vehicles such as trucks, lorries, trailers, tippers and tankers will be stopped from Bhateri jungle to Ramnagar at 11: 00 am.</span></p> <p> </p> <p><span style="font-size:18px">Similarly, commuter buses coming from Kathmandu will be stopped from Muglin Bazar to Manakamana Cable Car gate, while passenger buses coming from Pokhara will be stopped from Benitar to Powerhouse at 10:55 am.<br /> Likewise, heavy vehicles coming from Kathmandu will be stopped at Lewatar, whereas heavy vehicles coming from Pokhara will be stopped at Aanbukahireni at 10:45 am. </span><br /> </p> <p><span style="font-size:18px">During the road closure, ambulances and firefighters, however, will be allowed to ply. <br /> Contractors assigned agreement to construct bridges will deploy adequate manpower and resources to expedite the construction work. Meanwhile, the road will be repaired in different places simultaneously along the same section. </span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16260', 'image' => '20221213052556_collage (9).jpg', 'article_date' => '2022-12-13 17:20:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '16518', 'article_category_id' => '231', 'title' => 'Asian Hydropower Limited Opens IPO for Project-Affected Locals and Migrant Workers ', 'sub_title' => '', 'summary' => 'Asian Hydropower Limited has opened sale of its Initial Public Offering(IPO) to the locals of project-affected Ilam district and Nepali citizens working in foreign countries from Tuesday. ', 'content' => '<p><span style="font-size:18px"> <br /> December 13: Asian Hydropower Limited has opened sale of its Initial Public Offering(IPO) to the locals of project-affected Ilam district and Nepali citizens working in foreign countries from Tuesday. </span></p> <p> </p> <p><span style="font-size:18px">In the first phase, the company has issued 3, 40,000 unit shares, worth Rs, 3,40,00000, which is 10 per cent of the total paid-up capital of 34, 0000000, for the project-affected locals of Ilam district. Locals can apply a minimum of 10 shares, while the maximum unit of shares they can purchase is 20,000 at a face value of Rs 100. The closing date of the IPO is December 27, 2022. If the IPO remains under-subscribed, the deadline to apply will be extended till January 11, 2023. </span></p> <p> </p> <p><span style="font-size:18px">Similarly, Nepalese working abroad can apply for a minimum of 10 unit shares, while the maximum number of shares they can apply is 20,000. The closing date of the IPO for them is December 27 and the deadline will not be extended even if the IPO is not fully subscribed allocated for them. Out of 24.71 per cent of shares which is 8,40000 unit shares worth Rs 8,40,00000 allocated for the general public, ten per cent, that is 84,000 units of shares worth Rs, 84,00000 have been reserved for migrant workers. </span><br /> </p> <p><span style="font-size:18px">After the completion of the first phase of the IPO allotment, shares will be issued to the general public.<br /> Asian Hydropower Limited has developed Lower Jogmai Khola Hydropower in Ilam district. The run-of-the river project has installed capacity of 6.2 megawatts.</span><br /> </p> <p><span style="font-size:18px">The project has been producing power for the last one year.<br /> Per megawatt cost for construction of the hydropower project stands at Rs 21.15 crores. </span><br /> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16259', 'image' => '20221213043526_collage (8).jpg', 'article_date' => '2022-12-13 16:28:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16517', 'article_category_id' => '1', 'title' => 'IMF says Global Debt Well Above Pre-Pandemic Levels Despite Steep Drop in 2021', 'sub_title' => '', 'summary' => 'December 13: Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, Reuters reported citing the International Monetary Fund (IMF).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">December 13: Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, Reuters reported citing the International Monetary Fund (IMF). According to the news agency, the overall debt, however, remained well above pre-pandemic levels.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In a blog released with its inaugural Global Debt Monitor, the IMF said total public and private debt decreased by 10 percentage points to 247 percent of global gross domestic product (GDP) in 2021 from its peak of 257 percent in 2020. That compares to around 195 percent of GDP in 2007, before the global financial crisis, added Reuters.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In dollar terms, global debt continued to rise, although at a much slower rate, reaching a record $235 trillion last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“Debt ratios are expected to drop further in most countries in 2022 given nominal GDP growth, but 2023 would usher in a much flatter profile given forecast economic declines in many economies and the rising costs of servicing debt,” Reuters quoted IMF fiscal affairs director Vitor Gaspar as saying.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The global lender said private debt, which includes non-financial corporate and household obligations, drove the overall reduction, decreasing by 6 percentage points to 153 percent of GDP in 2021, citing data for 190 countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The drop of 4 percentage points for public debt, to 96 percent of GDP, was the largest such drop in decades, it said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The unusually large swings in debt ratios - or "global debt rollercoaster" - were caused by the economic rebound from COVID-19 and the ensuring swift rise in inflation, the IMF said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Debt dynamics varied widely across country groups. Advanced economies saw the biggest drop in debt, with both public and private debt dropping 5 percent of GDP last year, followed by similar results in emerging markets, excluding China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">But low-income countries saw their total debt ratios continue to increase in 2021, driven by higher private debt, with total debt reaching 88 percent of GDP.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">There are growing concerns about the ability of low- and middle-income countries to repay their debts, with an estimated 25 percent of emerging market countries and over 60 percent of low-income countries either in or near debt distress.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">High inflation levels continued to help reduce debt ratios in 2022, but fiscal spending would likely increase if inflation becomes persistent, which could lead to higher premiums, IMF officials said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">They suggested that the governments should pursue fiscal policies that help reduced inflationary pressures now and debt vulnerabilities over the long term, while continuing to support the most vulnerable. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16258', 'image' => '20221213124024_20181227013520_debt-fiscalriskcartoon-384X265.jpg', 'article_date' => '2022-12-13 12:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16516', 'article_category_id' => '252', 'title' => 'Last Chance of World Cup Glory for Messi and Modric', 'sub_title' => '', 'summary' => 'December 13: Argentina and Lionel Messi face Croatia on Tuesday in a World Cup semi-final that pits South American flair against the guile of Luka Modric and a remarkable fighting spirit.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 13: Argentina and Lionel Messi face Croatia on Tuesday in a World Cup semi-final that pits South American flair against the guile of Luka Modric and a remarkable fighting spirit, AFP reported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Two iconic Ballon d'Or-winning number 10s. Two beaten World Cup finalists. Two captains. One last chance to finally reach the peak of football and lift the famous trophy before they retire,” BBC wrote on its website.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It is hard to look past Argentina's Lionel Messi and Croatia's Luka Modric as the two difference-makers in Tuesday's first World Cup semi-final, added the BBC.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">With Paris St-Germain's Messi now 35 and Real Madrid's Modric 37, it seems highly likely the final or third-place play-off this weekend will be where their World Cup careers end.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to AFP, Messi will attempt to guide Argentina into the final for the second time in eight years against the beaten finalists in 2018.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Messi, who suffered defeat to Germany in the 2014 final, is desperate to crown an extraordinary career by finally winning the World Cup and emulating another Argentinian legend, the late Diego Maradona.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Paris Saint-Germain forward was a pivotal figure in Friday's stormy quarter-final win over the Netherlands, when a record 18 yellow cards were shown and players from both sides were involved in a melee as the referee fought to regain control, the French news agency added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia are hoping Argentina's bad-tempered World Cup quarter-final qualification over the Netherlands with 16 yellow cards and one red will not spill over into Tuesday's semi-final, Reuters reported citing coach Zlatko Dalic. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia, who beat Japan and pre-tournament favourites Brazil in penalty shoot-outs to reach the last four, have not won a knockout game in normal time at a major tournament since they came third at the 1998 World Cup.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Despite doing it the hard way, the country of 3.9 million people surprised the football world by reaching the final four years ago, where France crushed their dreams with a 4-2 win.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia, with Real Madrid playmaker Modric still the leader on the pitch at the age of 37, have again defied the odds to stand on the brink of a second successive final.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Coach Zlatko Dalic said he wanted Tuesday's match to be remembered as the "greatest game" in the country's history.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The match is scheduled for 12:45 am tonight (December 14).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16257', 'image' => '20221213122615_20221208010146_maxresdefault.jpg', 'article_date' => '2022-12-13 12:25:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16515', 'article_category_id' => '1', 'title' => 'More Invalid Votes under PR ', 'sub_title' => '', 'summary' => 'December 13: There were more invalid votes under the proportional representation (PR) than under the first-past-the-post (FPTP) system.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 13: There were more invalid votes under the proportional representation (PR) than under the first-past-the-post (FPTP) system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the total 11.04 million votes cast under the FPTP electoral system in the recently held elections to the House of Representatives and the provincial assemblies, 5.06 percent votes were invalid, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 5.09 percent votes under the PR system were invalid out of the total 11.02 million votes cast. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the EC said it would announce final name list of those picked under the PR on Tuesday (December 13). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16256', 'image' => '20221213113457_20211124020029_EC.jpg', 'article_date' => '2022-12-13 11:34:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16514', 'article_category_id' => '274', 'title' => 'Industrialists, Entrepreneurs from Syangja Submit 10-Point Memorandum to the Government ', 'sub_title' => '', 'summary' => ' Six organizations of industrialists and entrepreneurs from Syangja have submitted a 10-point demand to the Ministry of Finance and Nepal Rastra Bank. ', 'content' => '<p> </p> <p><span style="font-size:20px">December 13: Six organizations of industrialists and entrepreneurs from Syangja have submitted a 10-point demand to the Ministry of Finance and Nepal Rastra Bank. </span></p> <p> </p> <p><span style="font-size:20px">Industrialists and entrepreneurs have jointly submitted the memorandum to the Rastra Bank and Finance Ministry through Waling Area Administration Office, drawing a serious attention to Nepal Rastra Bank’s directives and current working capital guidelines-2079 BS. </span></p> <p> </p> <p><span style="font-size:20px">Waling Industry Association, Synagja District Federation of Nepalese Chamber of Commerce and Industry, Galyang Chapter of FNCCI, Bhirkot chapter of FNCCI and Chapakot chapter of FNCCI have submitted the memorandum. <br /> </span></p> <p><span style="font-size:20px">The memorandum states that liquidity crunch had led to the rise of interest rates, hitting businesses and enterprises hard. They have demanded that government and Rastra Bank slash the interest rates on lending at single digit. </span></p> <p> </p> <p><span style="font-size:20px">Entrepreneurs bemoaned that banks would have to cooperate during the crisis in economy. They have underlined the need to control the rising interest rate and make liquidity available. They have also demanded to keep spread rate within 3 per cent. </span><br /> </p> <p><span style="font-size:20px">Earlier, industrialists and entrepreneurs had staged a peaceful rally with slogans. Area Administration Office Waling Chief Ghanshayam Gautam said that he would send the memorandum to the concerned agencies at the earliest. </span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16255', 'image' => '20221213110012_collage (5).jpg', 'article_date' => '2022-12-13 10:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '16513', 'article_category_id' => '277', 'title' => 'Paddy Production Rises in Palpa', 'sub_title' => '', 'summary' => 'Compared to the last year, paddy production has increased in Palpa this year.', 'content' => '<p><br /> <br /> <span style="font-size:20px">December: Compared to the last year, paddy production has increased in Palpa this year. </span></p> <p> </p> <p><span style="font-size:20px">According to Agriculture Knowledge Center Palpa Chief Kamana Adhikari, Palpa produced 32,019 metric tons of paddy this year. Paddy was cultivated in 8,210 hectares of the land in the district.</span></p> <p> </p> <p><span style="font-size:20px">“Disease and insects attacked paddy at seed-bearing time. Despite this, their effect was less than expected”, added Adhikari.</span></p> <p> </p> <p><span style="font-size:20px">The district had produced 31,428 metric tons of the paddy cultivated in 8,206 hectares of the land. “Increasing use of modern technology, and use of improved seeds recommended by agriculture technicians have led to the rise od paddy production”, said Center’s Information Officer Milan Gaire.</span></p> <p> </p> <p><span style="font-size:20px">Farmers have been planting various species of paddy such as sabitri, hybrid, sanwa mansuli, US-312, shnati, khumal-3, among others, in the district. Local paddy types are hardly cultivated these days. Peasants and farmers cultivate improved seed to increase productivity. </span></p> <p> </p> <p><span style="font-size:20px">Adequate rainfall at the time of paddy plantation and construction of canals have encouraged farmers to plant paddy. Use of thresher machine and tractor has made paddy cultivation easy for famers, motivating them to plant the paddy even in the barren field of late. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16254', 'image' => '20221213100633_collage (4).jpg', 'article_date' => '2022-12-13 10:00:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '16511', 'article_category_id' => '273', 'title' => 'NewBiz Business Conclave & Awards: Shivam Cements Declared Best Managed Company', 'sub_title' => 'Awards distributed in 8 categories; Standard Chartered Bank Nepal named as “Best Managed Commercial Bank 2022”', 'summary' => 'December 12: Shivam Cements has been adjudged as the best managed company of 2022.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">December 12: Shivam Cements has been adjudged as the best managed company of 2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The publicly listed cement manufacturing company was honored with the title of the “Best Managed Company 2022” on Monday amid a grand ceremony during the 7</span></span><sup><span style="font-size:6.5pt"><span style="font-family:"Arial","sans-serif"">th</span></span></sup><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif""> Newbiz Business Conclave & Awards” organised by New Business Age Pvt Ltd.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The event, which features Asian Paints as the main sponsor, also felicitated seven companies as the best managed companies in their respective categories in addition to a lifetime achievement award to a business leader.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Standard Chartered Bank Nepal Ltd (SCBNL) received the award of the “Best Managed Commercial Bank 2022”. Standard Chartered Bank Nepal is the only international bank currently operating in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Towards development bank category, it was Shine Resunga Development Bank to bag the “Best</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Development Bank 2022” award.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">ICFC Finance Ltd won the award of the “Best Managed Finance Company”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, National Life Insurance Company Ltd received the honor of the “Best Managed Life Insurance Company” while Shikhar Insurance Company Ltd was named the “Best Managed Non-Life Insurance Company 2022”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">It was Chhimek Laghubitta Bittiya Sanstha Ltd which clinched the title of the “Best Managed Microfinance Company 2022”. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">According to the organizer, the companies and individuals honored during the event were selected by a jury after going through detailed research on each of the short-listed organizations and business leaders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Each category had an independent jury which short-listed possible companies and individuals, and discussed various aspects among themselves and with outside experts and regulators before making the final selection, said the organizer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">During the ceremony, New Business Age Ltd, the publisher of the monthly English magazine New Business Age and Aarthik Abhiyan National Daily, felicitated Himalaya Shumsher Rana with the “Lifetime Achievement in Business Award 2022”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The jury said that he was honored with the award for his outstanding contribution to the field of business and entrepreneurship in Nepal through his pioneering, innovating and visional roles in various fields including central banking, private sector commercial banking, insurance and manufacturing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">New Business Age has been organizing Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">“They are being honoured for being our role models. We don't call them winners. Because they may be many more who deserve to be honoured. But we could not reach out to all of them because of our limited resources,” said Madan Lamsal, Chairman and Editor-in-chief of New Business Age group. “We hope they will do more in the future. We look forward to their higher achievements and investments in social good and corporate social responsibility in the years to come.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Prior to the award ceremony, a panel discussion on “Emerging Through the Crises” was organized where panelists comprising leaders from private sector, government and think tanks discussed resilience of Nepal’s business and economy to various crises including a decade long Maoists insurgency, earthquakes and trade blockades in 2015 and the recent Covid-19 pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">SAWTEE’s Chair Dr Posh Raj Pandey, FNCCI Vice President Chandra Dhakal, Nepal Rastra Bank’s Deputy Governor Dr Neelam Dhungana Timsina and Industry, Commerce and Supplies Secretary Dr Toya Gyawali were the panelists in the discussion moderated by Dr Kalpana Khanal, Senior Research Fellow at Policy Research Institute.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><u>LIST OF AWARD RECIPIENTS </u></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Company</strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Shivam Cement Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Commercial Bank </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Rastriya Banijya Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Siddhartha bank Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Standard Charter Bank Nepal Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Development Bank </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Lumbini Bikas Bank & Kamana Sewa Bikas Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Muktinath Bikas Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Shine Resunga Development Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Finance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Goodwill FinanceCompany</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Guheswori Merchant Banking and Finance</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: ICFC Finance Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Microfinance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Deprosc Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Forward Community Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Chhimek Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Life Insurance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd: </sup>Life Insurance Corporation(Nepal) Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Nepal Life Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: National Life Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Non-Life Insurance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Neco Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Sagarmatha Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Sikhar Insurance Company</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16253', 'image' => '20221212080924_IMG-20221212-WA0026.jpg', 'article_date' => '2022-12-12 19:53:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16512', 'article_category_id' => '1', 'title' => 'Himalaya Shumsher Rana Honoured with Lifetime Achievement Award', 'sub_title' => '', 'summary' => 'December 12: Himalaya Shumsher Rana, a noted business leader, has been conferred with the “Lifetime Achievement in Business Leadership Award 2022” during the Seventh NewBiz Business Conclave and Awards on Monday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">December 12: Himalaya Shumsher Rana, a noted business leader, has been conferred with the “Lifetime Achievement in Business Leadership Award 2022” during the Seventh NewBiz Business Conclave and Awards on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rana was felicitated with the lifetime achievement business award for his outstanding contribution to the field of business and entrepreneurship in Nepal, according to the jury of the awards ceremony. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rana, the founding governor of the country’s central bank Nepal Rastra Bank, is considered a source of inspiration to the entire business community for the zeal he showed even in the age of 65-75 years by initiating business ventures in different fields, and being still active in work even at the age of 96. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“He commands the respect of the country's entire private sector as well as of the professionals and general people for his pioneering, innovating and visional roles in a number of fields such as central banking, private sector commercial banking, insurance and manufacturing,” reads the award citation. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '16252', 'image' => '20221212082110_IMG-20221212-WA0030.jpg', 'article_date' => '2022-12-12 19:54:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16509', 'article_category_id' => '274', 'title' => 'Not Economic Crisis, but a Challenge, says Finance Minister Sharma ', 'sub_title' => '', 'summary' => 'Minister for Finance Janardan Sharma has said that recent challenges Nepal’s economy has been facing including the slow economic growth and shortage of liquidity have resulted from the lack of implementation of economic and business policies introduced by the government.', 'content' => '<p><span style="font-size:16px">December 12: Minister for Finance Janardan Sharma has said that recent challenges Nepal’s economy has been facing including the slow economic growth and shortage of liquidity have resulted from the lack of implementation of economic and business policies introduced by the government.</span></p> <p><span style="font-size:16px">“Its about the lack of the institutional and legal capacity. If we address them, many of the challenges we are facing would be resolved,” said Finance Minister Sharma, addressing the “7th Newbiz Business Conclave and Awards” on Monday.</span></p> <p><span style="font-size:16px">He also took strong exception to characterizing Nepal’s economic challenges as ‘crisis’. “There were comments that Nepal was going down the line of crisis like in Sri Lanka. That was wrong. We cannot call it a crisis. There are challenges that can be treated,” he said.</span></p> <p><span style="font-size:16px">Minister Finance Sharma also opined that Nepal cannot do or produce everything. “We should focus on certain areas like hydropower and IT where we have our competitive advantages,” he added.</span></p> <p><span style="font-size:16px">Speaking at the event as keynote speaker, Dr Nagesh Kumar, Director of the Institute for Studies in Industrial Development, India, said that rising inequalities between and within the economies has emerged as one of the major challenges for the world. </span></p> <p><span style="font-size:16px">According to Dr Kumar, there is widening inequalities of income within countries due to failure of economic growth to ‘lift all the boats’. </span></p> <p><span style="font-size:16px">“Some data show that Nepal has managed very well in addressing the widening inequality. Its social protection system is very good. It has not yet faced a disturbing trend of rising inequality and the rest of the world can learn from Nepal,” he said. </span></p> <p><span style="font-size:16px">He also said that the recent Covid-19 pandemic has exposed gaps in public health infrastructure, social protection, provision of basic services, vaccination as well as in the global economy. </span></p> <p><span style="font-size:16px"> Also speaking at the event, Shekhar Golchha, President of the Federation Nepalese Chambers of Commerce and Industry (FNCCI), said that the private sector, which coped with numerous challenges including conflict, power outage, blockade and earthquakes, is now currently facing internal challenges including the liquidity shortage. </span></p> <p><span style="font-size:16px">“We have emerged from all those crises including the political turmoils that took a toll on the economy. But, we are confident we can also overcome the current internal challenge if we work together,” said FNCCI President Golchha. </span></p> <p><span style="font-size:16px">Vishnu Agarwal, President of the Confederation of Nepalese Industries (CNI), said that the contribution of the manufacturing sector to the GDP has been falling in the last two decades. </span></p> <p><span style="font-size:16px">“We have to focus on industrialization to increase employment opportunities, boost foreign exchange reserves and accelerate the economic growth of the country,” said CNI President Agarwal. “There are some initiatives introduced by the government to promote industrialization. However, there is no satisfactory progress in the implementation of those measures.” </span></p> <p><span style="font-size:16px">Asian Paints is the main sponsor of the programme while Gods of Furniture, Metlife Insurance, Rastriya Banijya Bank, Nexus Evi, NLG Insurance, Dish Home, Fiber Net, Nepali Patro, President Travels and Tours, have supported the event. </span></p> <p><span style="font-size:16px">New Business Age has been organizing the Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16250', 'image' => '20221212071227_Finance Minister.jpg', 'article_date' => '2022-12-12 19:09:07', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 14 => array( 'Article' => array( 'id' => '16508', 'article_category_id' => '1', 'title' => 'Govt Urged to Prioritise Investment Attraction as Country Emerges through Crises ', 'sub_title' => 'Private sector leaders, government officials and economists discuss ways to navigate economic and business challenges in the country', 'summary' => 'December 12: Economists and policymakers have underlined the need to utilize the recent challenges to overhaul the country’s legal and regulatory systems to ease the process of doing business and prevent the economy from plunging into crisis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">December 12: Economists and policymakers have underlined the need to utilize the recent challenges to overhaul the country’s legal and regulatory systems to ease the process of doing business and prevent the economy from plunging into crisis.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a panel discussion “Emerging Through Crises” during the “7th Newbiz Business Conclave and Awards” on Monday, economists, authorities and private sector leaders said that the priority should be on attracting investment as the country emerges through various crises including the Covid-19 pandemic most recently. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“All ministries of the government are working to increase the competitiveness for doing business and to attract private investments in collaboration with the private sector,” said Dr Toya Gyawali, Secretary at the Ministry of Industry and Supplies. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking also at the panel discussion, Dr Neelam Dhungana Timsina, Deputy Governor at Nepal Rastra Bank, said that the central bank’s recent decision to raise policy rates and introduce expansionary monetary policy was aimed at addressing the rising inflation and ease the pressure on the external sector stability of the country. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The central bank and the government took expansionary fiscal and monetary policies to stop further deterioration or help revive the economy during the pandemic. These expansionary policies have worked in reviving the businesses shut or hit by the country then,” she said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">She defended the central bank’s move that has prompted the private sector to go into the street. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Now, we see a need to check the high growth in credit expansion fuelled by the expansionary monetary policy. At the same time, there were some external factors including the war in Ukraine that drove the prices in the market,” she added. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chandra Dhakal, Vice President of the Federation of Nepalese Chambers of Commerce and Industry(FNCCI), said that businesses and the private sector have helped the government through taxes even during crises like insurgency, earthquakes in 2015. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Even during the crises, troubled time or transition periods, the private sector opened industries and businesses, created jobs and paid taxes to the state even when we were told not to do so by the court,” said FNCCI Senior Vice President Dhakal. “Now, it's the time the government should support or encourage the private sector,” he added. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Amid concerns that Nepal’s graduation from the least developed country (LDC) status could have economic repercussions, Dr Posh Raj Pandey, Chair of SAWTEE, said that the LDCs graduation would not have a significant impact on the macroeconomic situation of the country. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The graduation status does mean that it would automatically solve the development challenges that we have been long facing. It would neither take us to a situation full of challenges,” he said. “We need a transition strategy that can maintain the development trajectory.” </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The panel discussion organized during the Seventh Edition of NewBiz Business Conclave and Awards also dwelt on the role of MSMEs and startups in diversifying domestic production, policies to support ICT and hydro-electricity sectors and the role of private sector in digitization and technological transformation, among others. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The panel discussion was moderated by Dr. Kalpana Khanal, Sr. Research Fellow at Policy Research Institute. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Asian Paints is the major sponsor of the programme while Gods of Furniture, Metlife Insurance, Rastriya Banijya Bank, Nexus EV, NLG Insurance, Dish Home Fiber Net, Nepali Patro, President Travels and Tours, have supported the event. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">New Business Age has been organizing Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></span></span></p> <p><br /> <br /> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '16249', 'image' => '20221212055511_IMG-20221212-WA0009.jpg', 'article_date' => '2022-12-12 17:53:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16523', 'article_category_id' => '1', 'title' => 'Handicraft Fair Concludes with Business of Rs 100 Million ', 'sub_title' => '', 'summary' => 'December 14: The 19th Handicraft Fair organized by the Federation of Handicraft Associations of Nepal (FHAN) concluded in Kathmandu on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: The 19th Handicraft Fair organized by the Federation of Handicraft Associations of Nepal (FHAN) concluded in Kathmandu on Tuesday. The organizer said that around 50,000 visitors attended the five-day fair which witnessed business worth Rs 100 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice-Chairman of the federation Dilli Ratna Tuladhar said that the fair has revitalized the handicraft business that suffered badly due to the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Bidya Devi Bhandari had inaugurated the fair on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the final day of the fair, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu visited the fair and handed over prizes to different individuals for their contribution to the handicraft sector. On the occasion, Minister Badu said the government has launched campaigns for production growth, development and prosperity and handicraft sector is a medium to achieve the goal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister also expressed government’s readiness to address the issues faced by the handicraft sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation, Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha, Chief Minister of Bagmati Province Rajendra Pandey and Province Tourism Minister Dipendra Shrestha and other officials visited the stalls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federation has stated that exports of handicraft goods has gradually gained momentum while the demand for the handicraft products is increasing in the domestic market with the inflow of tourists. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '16264', 'image' => '20221214100725_19th-Handicraft-Trade-Fair.jpg', 'article_date' => '2022-12-14 10:06:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16522', 'article_category_id' => '1', 'title' => 'Traffic along Narayangadh-Muglin Road to Halt for Four Hours a Day ', 'sub_title' => '', 'summary' => 'December 14: Traffic along the Narayangadh-Muglin road will be halted for four hours a day to construct bridges. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: Traffic along the Narayangadh-Muglin road will be halted for four hours a day to construct bridges. A meeting of the stakeholders on Tuesday decided to halt traffic along the road for one month to build bridges. Vehicular movement will be halted from 11 am to 3 pm each day. However, emergency vehicles like ambulance and fire engines will be allowed to move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Chitwan Ashman Tamang said that the works of downsizing hills at Simaltal, Kalikhola, Tuine Khola and Chisenji will take place in this period. Passenger buses, mini and microbuses and light vehicles will be barred from plying along the Pandhrakilo Bazaar and Jugedi between 11 am to 3 pm, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, heavy vehicles including lorries, trucks, tipper trucks and tankers will be stopped from Bhateri forest to Ramnagar from 10:50 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Passenger buses heading from Kathmandu will be stopped between Muglin Bazaar and Manakamana Gate at 10:55 am, and those heading from Pokhara between Benitar and Powerhouse. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, lorries heading from Kathmandu will be halted at Lebatar at 10:45 am, and those heading from Pokhara at Aanbukhaireni. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Repair of roads sections at various other places along the Narayangadh-Muglin road will also take place during this time. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-26', 'keywords' => '', 'description' => '', 'sortorder' => '16263', 'image' => '20221214094754_20210307101257_20210203120420_20200611120202_WB Road Project.jpg', 'article_date' => '2022-12-14 09:47:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16521', 'article_category_id' => '218', 'title' => 'Bank Interest Rates to Remain Stable for Poush ', 'sub_title' => '', 'summary' => 'commercial banks, development banks and finance companies have decided to keep the interest rate on deposits stable for the next month of mid-December to mid-January 2023. ', 'content' => '<p> </p> <p><span style="font-size:18px">December 14: At a time when industrialists and entrepreneurs have been protesting against the banks and financial institutions’ increased interest rates on lending, commercial banks, development banks and finance companies have decided to keep the interest rate on deposits stable for the next month of mid-December to mid-January 2023. </span></p> <p> </p> <p><span style="font-size:18px">Nepal Bankers’ Association Chairman Anil Kumar Upadhaya said that the association had decided to give continuity to the existing interest rates which the banks have enforced for the last two months. </span></p> <p> </p> <p><span style="font-size:18px">With the decision, interest rate of 12.133 per cent per annum on fixed deposits to individual depositors will be maintained for the next month. Similarly, an interest rate of 10.133 per annum on fixed deposits to institutional depositors will be given continuity for the next month as well. </span></p> <p><span style="font-size:18px">Development banks and finance companies have also decided to keep the interest rate unchanged for the next month of mid-December to mid-January. </span></p> <p><span style="font-size:18px">Development Bankers’ Association had fixed the interest rate of 12.85 per cent on fixed deposit by reducing it by 0.15 per cent for the current month. </span></p> <p> </p> <p><span style="font-size:18px">Likewise, finance companies have been offering an interest rate of 13 per cent on 3-months’ fixed deposit and 13.30 per on 1 year’s fixed deposits for the existing month. </span></p> <p> </p> <p><span style="font-size:18px">As per the Nepal Rastra Bank’s directives, banks and financial institutions have to publish interest rate they wish to enforce every month before the beginning of new month. </span><br /> </p> <p><span style="font-size:18px">Banks can increase their interest only by 10 per cent at a time. But, citing liquidity crunch, umbrella organizations of banks and financial institutions have been controlling interest rate to ward off unhealthy competition. </span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '16262', 'image' => '20221214063849_collage (6).jpg', 'article_date' => '2022-12-14 06:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '16520', 'article_category_id' => '1', 'title' => 'Maximum Temperature during Winter to be Above Average this Year ', 'sub_title' => '', 'summary' => 'December 13: The maximum temperature throughout the country is likely to be more than average and the rainfall less than average in most parts of the country during the winter this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 13: The maximum temperature throughout the country is likely to be more than average and the rainfall less than average in most parts of the country during the winter this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The average rainfall/average temperature means the rainfall and temperature of a place for a long time (1991 to 2020). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Hydrology and Meteorology stated that the Sudurpaschim province and the districts of Lumbini Province, except Rukum West, Rolpa and Pyuthan, the central and eastern districts of Gandaki Province, including Lamjung, Syangja, Tanahun, Gorakha, among others, Dolakha of Bagmati Province and the northern districts of Province No 1, including Taplejung, Sankhuwasabha and Solukhumbu will experience the average minimum temperature whereas the rest of the regions will experience more than the average temperature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department under the Ministry of Energy, Water Resources and Irrigation has made public the estimation of the rainfall and temperature during the winter (December 1 to March 28), informed Senior Meteorologist at the Department, Indira Kandel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department, most places of the country will likely receive less than the average rainfall in the winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of less than average rainfall is 45 to 55 percent in the eastern and Tarai districts of Province No 1, including Taplejung, Panchthar, Tehrathum, Ilam, Jhapa, Morang and Sunsari, the western parts of the Madhes Province including Parsa, Bara, Rautahat among other districts, and Kathmandu, Bhaktapur, Lalitpur, Nuwakot, Makawanpur, among other districts, the central and southern districts as Kaski, Syangja and Parbat of the Gandaki Province, most of the districts of Lumbini Province and Darchula, Baitadi, Dadeldhura, Doti, Kanchanpur and Kailali in the Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the possibility of less than average rainfall is 35 to 45 percent in rest of the parts of the country except in Bajhang and Bajura districts of Sudurpaschim Province, north-western part of Humla, Mugu and Dolpa in Karnali Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the maximum temperature is likely to be more than the average throughout the country this winter, meteorologist Kandel said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of the maximum temperature being more than the average is from 55 to 65 percent in the western parts of Humla and Mugu of Karnali Province and Bajura district of Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The chances of the maximum temperature being over the average temperature is 45 to 55 percent in Solukhumbu and Ilam, Jhapa, Morang and Sunsari of Province No 1, in Kavrepalanchok, Kathmandu, Lalitpur, Bhaktapur, Nuwakot, Makawanpur, Chitwan of Bagmati Province, Parsa and Saptari districts of Madhes Province, most of the districts of Gandaki Province except the north-eastern ones, most parts of Lumbini Province and the eastern and northern parts of Karnali Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of the maximum temperature becoming more than the average is 35 to 45 percent in the rest of the regions of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16261', 'image' => '20221213060159_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-12-13 18:01:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16519', 'article_category_id' => '270', 'title' => 'Narayangadh-Muglin Road to Be Closed for Four Hours Daily ', 'sub_title' => '', 'summary' => ' Vehicular movement along Narayangadh-Muglin road section will be closed to construct bridges for four hours daily. ', 'content' => '<p><span style="font-size:18px"> <br /> <br /> December 13: Vehicular movement along Narayangadh-Muglin road section will be closed to construct bridges for four hours daily. </span><br /> </p> <p><span style="font-size:18px">A meeting held at the District Administration Office (DAO) Chitwan chaired by CDO Ashman Tamang took the decision to close the transportation service along the road for a month starting from December 20. The road will be closed from 11:00 am to 3:00 pm. </span><br /> </p> <p><span style="font-size:18px">The vehicular movement will be shut down for the construction of bridges over Kalikhola, Simtal, Tuin Khola, and Chisenji khola.</span><br /> </p> <p><span style="font-size:18px">As per the decision, passenger buses, mini bus, micro buses, and small vehicles coming from Narayangadh will be stopped from 15 Kilo market to Jugedi. Heavy vehicles such as trucks, lorries, trailers, tippers and tankers will be stopped from Bhateri jungle to Ramnagar at 11: 00 am.</span></p> <p> </p> <p><span style="font-size:18px">Similarly, commuter buses coming from Kathmandu will be stopped from Muglin Bazar to Manakamana Cable Car gate, while passenger buses coming from Pokhara will be stopped from Benitar to Powerhouse at 10:55 am.<br /> Likewise, heavy vehicles coming from Kathmandu will be stopped at Lewatar, whereas heavy vehicles coming from Pokhara will be stopped at Aanbukahireni at 10:45 am. </span><br /> </p> <p><span style="font-size:18px">During the road closure, ambulances and firefighters, however, will be allowed to ply. <br /> Contractors assigned agreement to construct bridges will deploy adequate manpower and resources to expedite the construction work. Meanwhile, the road will be repaired in different places simultaneously along the same section. </span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16260', 'image' => '20221213052556_collage (9).jpg', 'article_date' => '2022-12-13 17:20:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '16518', 'article_category_id' => '231', 'title' => 'Asian Hydropower Limited Opens IPO for Project-Affected Locals and Migrant Workers ', 'sub_title' => '', 'summary' => 'Asian Hydropower Limited has opened sale of its Initial Public Offering(IPO) to the locals of project-affected Ilam district and Nepali citizens working in foreign countries from Tuesday. ', 'content' => '<p><span style="font-size:18px"> <br /> December 13: Asian Hydropower Limited has opened sale of its Initial Public Offering(IPO) to the locals of project-affected Ilam district and Nepali citizens working in foreign countries from Tuesday. </span></p> <p> </p> <p><span style="font-size:18px">In the first phase, the company has issued 3, 40,000 unit shares, worth Rs, 3,40,00000, which is 10 per cent of the total paid-up capital of 34, 0000000, for the project-affected locals of Ilam district. Locals can apply a minimum of 10 shares, while the maximum unit of shares they can purchase is 20,000 at a face value of Rs 100. The closing date of the IPO is December 27, 2022. If the IPO remains under-subscribed, the deadline to apply will be extended till January 11, 2023. </span></p> <p> </p> <p><span style="font-size:18px">Similarly, Nepalese working abroad can apply for a minimum of 10 unit shares, while the maximum number of shares they can apply is 20,000. The closing date of the IPO for them is December 27 and the deadline will not be extended even if the IPO is not fully subscribed allocated for them. Out of 24.71 per cent of shares which is 8,40000 unit shares worth Rs 8,40,00000 allocated for the general public, ten per cent, that is 84,000 units of shares worth Rs, 84,00000 have been reserved for migrant workers. </span><br /> </p> <p><span style="font-size:18px">After the completion of the first phase of the IPO allotment, shares will be issued to the general public.<br /> Asian Hydropower Limited has developed Lower Jogmai Khola Hydropower in Ilam district. The run-of-the river project has installed capacity of 6.2 megawatts.</span><br /> </p> <p><span style="font-size:18px">The project has been producing power for the last one year.<br /> Per megawatt cost for construction of the hydropower project stands at Rs 21.15 crores. </span><br /> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16259', 'image' => '20221213043526_collage (8).jpg', 'article_date' => '2022-12-13 16:28:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16517', 'article_category_id' => '1', 'title' => 'IMF says Global Debt Well Above Pre-Pandemic Levels Despite Steep Drop in 2021', 'sub_title' => '', 'summary' => 'December 13: Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, Reuters reported citing the International Monetary Fund (IMF).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">December 13: Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, Reuters reported citing the International Monetary Fund (IMF). According to the news agency, the overall debt, however, remained well above pre-pandemic levels.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In a blog released with its inaugural Global Debt Monitor, the IMF said total public and private debt decreased by 10 percentage points to 247 percent of global gross domestic product (GDP) in 2021 from its peak of 257 percent in 2020. That compares to around 195 percent of GDP in 2007, before the global financial crisis, added Reuters.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In dollar terms, global debt continued to rise, although at a much slower rate, reaching a record $235 trillion last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“Debt ratios are expected to drop further in most countries in 2022 given nominal GDP growth, but 2023 would usher in a much flatter profile given forecast economic declines in many economies and the rising costs of servicing debt,” Reuters quoted IMF fiscal affairs director Vitor Gaspar as saying.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The global lender said private debt, which includes non-financial corporate and household obligations, drove the overall reduction, decreasing by 6 percentage points to 153 percent of GDP in 2021, citing data for 190 countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The drop of 4 percentage points for public debt, to 96 percent of GDP, was the largest such drop in decades, it said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The unusually large swings in debt ratios - or "global debt rollercoaster" - were caused by the economic rebound from COVID-19 and the ensuring swift rise in inflation, the IMF said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Debt dynamics varied widely across country groups. Advanced economies saw the biggest drop in debt, with both public and private debt dropping 5 percent of GDP last year, followed by similar results in emerging markets, excluding China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">But low-income countries saw their total debt ratios continue to increase in 2021, driven by higher private debt, with total debt reaching 88 percent of GDP.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">There are growing concerns about the ability of low- and middle-income countries to repay their debts, with an estimated 25 percent of emerging market countries and over 60 percent of low-income countries either in or near debt distress.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">High inflation levels continued to help reduce debt ratios in 2022, but fiscal spending would likely increase if inflation becomes persistent, which could lead to higher premiums, IMF officials said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">They suggested that the governments should pursue fiscal policies that help reduced inflationary pressures now and debt vulnerabilities over the long term, while continuing to support the most vulnerable. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16258', 'image' => '20221213124024_20181227013520_debt-fiscalriskcartoon-384X265.jpg', 'article_date' => '2022-12-13 12:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16516', 'article_category_id' => '252', 'title' => 'Last Chance of World Cup Glory for Messi and Modric', 'sub_title' => '', 'summary' => 'December 13: Argentina and Lionel Messi face Croatia on Tuesday in a World Cup semi-final that pits South American flair against the guile of Luka Modric and a remarkable fighting spirit.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 13: Argentina and Lionel Messi face Croatia on Tuesday in a World Cup semi-final that pits South American flair against the guile of Luka Modric and a remarkable fighting spirit, AFP reported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Two iconic Ballon d'Or-winning number 10s. Two beaten World Cup finalists. Two captains. One last chance to finally reach the peak of football and lift the famous trophy before they retire,” BBC wrote on its website.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It is hard to look past Argentina's Lionel Messi and Croatia's Luka Modric as the two difference-makers in Tuesday's first World Cup semi-final, added the BBC.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">With Paris St-Germain's Messi now 35 and Real Madrid's Modric 37, it seems highly likely the final or third-place play-off this weekend will be where their World Cup careers end.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to AFP, Messi will attempt to guide Argentina into the final for the second time in eight years against the beaten finalists in 2018.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Messi, who suffered defeat to Germany in the 2014 final, is desperate to crown an extraordinary career by finally winning the World Cup and emulating another Argentinian legend, the late Diego Maradona.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Paris Saint-Germain forward was a pivotal figure in Friday's stormy quarter-final win over the Netherlands, when a record 18 yellow cards were shown and players from both sides were involved in a melee as the referee fought to regain control, the French news agency added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia are hoping Argentina's bad-tempered World Cup quarter-final qualification over the Netherlands with 16 yellow cards and one red will not spill over into Tuesday's semi-final, Reuters reported citing coach Zlatko Dalic. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia, who beat Japan and pre-tournament favourites Brazil in penalty shoot-outs to reach the last four, have not won a knockout game in normal time at a major tournament since they came third at the 1998 World Cup.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Despite doing it the hard way, the country of 3.9 million people surprised the football world by reaching the final four years ago, where France crushed their dreams with a 4-2 win.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia, with Real Madrid playmaker Modric still the leader on the pitch at the age of 37, have again defied the odds to stand on the brink of a second successive final.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Coach Zlatko Dalic said he wanted Tuesday's match to be remembered as the "greatest game" in the country's history.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The match is scheduled for 12:45 am tonight (December 14).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16257', 'image' => '20221213122615_20221208010146_maxresdefault.jpg', 'article_date' => '2022-12-13 12:25:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16515', 'article_category_id' => '1', 'title' => 'More Invalid Votes under PR ', 'sub_title' => '', 'summary' => 'December 13: There were more invalid votes under the proportional representation (PR) than under the first-past-the-post (FPTP) system.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 13: There were more invalid votes under the proportional representation (PR) than under the first-past-the-post (FPTP) system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the total 11.04 million votes cast under the FPTP electoral system in the recently held elections to the House of Representatives and the provincial assemblies, 5.06 percent votes were invalid, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 5.09 percent votes under the PR system were invalid out of the total 11.02 million votes cast. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the EC said it would announce final name list of those picked under the PR on Tuesday (December 13). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16256', 'image' => '20221213113457_20211124020029_EC.jpg', 'article_date' => '2022-12-13 11:34:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16514', 'article_category_id' => '274', 'title' => 'Industrialists, Entrepreneurs from Syangja Submit 10-Point Memorandum to the Government ', 'sub_title' => '', 'summary' => ' Six organizations of industrialists and entrepreneurs from Syangja have submitted a 10-point demand to the Ministry of Finance and Nepal Rastra Bank. ', 'content' => '<p> </p> <p><span style="font-size:20px">December 13: Six organizations of industrialists and entrepreneurs from Syangja have submitted a 10-point demand to the Ministry of Finance and Nepal Rastra Bank. </span></p> <p> </p> <p><span style="font-size:20px">Industrialists and entrepreneurs have jointly submitted the memorandum to the Rastra Bank and Finance Ministry through Waling Area Administration Office, drawing a serious attention to Nepal Rastra Bank’s directives and current working capital guidelines-2079 BS. </span></p> <p> </p> <p><span style="font-size:20px">Waling Industry Association, Synagja District Federation of Nepalese Chamber of Commerce and Industry, Galyang Chapter of FNCCI, Bhirkot chapter of FNCCI and Chapakot chapter of FNCCI have submitted the memorandum. <br /> </span></p> <p><span style="font-size:20px">The memorandum states that liquidity crunch had led to the rise of interest rates, hitting businesses and enterprises hard. They have demanded that government and Rastra Bank slash the interest rates on lending at single digit. </span></p> <p> </p> <p><span style="font-size:20px">Entrepreneurs bemoaned that banks would have to cooperate during the crisis in economy. They have underlined the need to control the rising interest rate and make liquidity available. They have also demanded to keep spread rate within 3 per cent. </span><br /> </p> <p><span style="font-size:20px">Earlier, industrialists and entrepreneurs had staged a peaceful rally with slogans. Area Administration Office Waling Chief Ghanshayam Gautam said that he would send the memorandum to the concerned agencies at the earliest. </span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16255', 'image' => '20221213110012_collage (5).jpg', 'article_date' => '2022-12-13 10:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '16513', 'article_category_id' => '277', 'title' => 'Paddy Production Rises in Palpa', 'sub_title' => '', 'summary' => 'Compared to the last year, paddy production has increased in Palpa this year.', 'content' => '<p><br /> <br /> <span style="font-size:20px">December: Compared to the last year, paddy production has increased in Palpa this year. </span></p> <p> </p> <p><span style="font-size:20px">According to Agriculture Knowledge Center Palpa Chief Kamana Adhikari, Palpa produced 32,019 metric tons of paddy this year. Paddy was cultivated in 8,210 hectares of the land in the district.</span></p> <p> </p> <p><span style="font-size:20px">“Disease and insects attacked paddy at seed-bearing time. Despite this, their effect was less than expected”, added Adhikari.</span></p> <p> </p> <p><span style="font-size:20px">The district had produced 31,428 metric tons of the paddy cultivated in 8,206 hectares of the land. “Increasing use of modern technology, and use of improved seeds recommended by agriculture technicians have led to the rise od paddy production”, said Center’s Information Officer Milan Gaire.</span></p> <p> </p> <p><span style="font-size:20px">Farmers have been planting various species of paddy such as sabitri, hybrid, sanwa mansuli, US-312, shnati, khumal-3, among others, in the district. Local paddy types are hardly cultivated these days. Peasants and farmers cultivate improved seed to increase productivity. </span></p> <p> </p> <p><span style="font-size:20px">Adequate rainfall at the time of paddy plantation and construction of canals have encouraged farmers to plant paddy. Use of thresher machine and tractor has made paddy cultivation easy for famers, motivating them to plant the paddy even in the barren field of late. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16254', 'image' => '20221213100633_collage (4).jpg', 'article_date' => '2022-12-13 10:00:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '16511', 'article_category_id' => '273', 'title' => 'NewBiz Business Conclave & Awards: Shivam Cements Declared Best Managed Company', 'sub_title' => 'Awards distributed in 8 categories; Standard Chartered Bank Nepal named as “Best Managed Commercial Bank 2022”', 'summary' => 'December 12: Shivam Cements has been adjudged as the best managed company of 2022.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">December 12: Shivam Cements has been adjudged as the best managed company of 2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The publicly listed cement manufacturing company was honored with the title of the “Best Managed Company 2022” on Monday amid a grand ceremony during the 7</span></span><sup><span style="font-size:6.5pt"><span style="font-family:"Arial","sans-serif"">th</span></span></sup><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif""> Newbiz Business Conclave & Awards” organised by New Business Age Pvt Ltd.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The event, which features Asian Paints as the main sponsor, also felicitated seven companies as the best managed companies in their respective categories in addition to a lifetime achievement award to a business leader.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Standard Chartered Bank Nepal Ltd (SCBNL) received the award of the “Best Managed Commercial Bank 2022”. Standard Chartered Bank Nepal is the only international bank currently operating in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Towards development bank category, it was Shine Resunga Development Bank to bag the “Best</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Development Bank 2022” award.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">ICFC Finance Ltd won the award of the “Best Managed Finance Company”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, National Life Insurance Company Ltd received the honor of the “Best Managed Life Insurance Company” while Shikhar Insurance Company Ltd was named the “Best Managed Non-Life Insurance Company 2022”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">It was Chhimek Laghubitta Bittiya Sanstha Ltd which clinched the title of the “Best Managed Microfinance Company 2022”. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">According to the organizer, the companies and individuals honored during the event were selected by a jury after going through detailed research on each of the short-listed organizations and business leaders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Each category had an independent jury which short-listed possible companies and individuals, and discussed various aspects among themselves and with outside experts and regulators before making the final selection, said the organizer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">During the ceremony, New Business Age Ltd, the publisher of the monthly English magazine New Business Age and Aarthik Abhiyan National Daily, felicitated Himalaya Shumsher Rana with the “Lifetime Achievement in Business Award 2022”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The jury said that he was honored with the award for his outstanding contribution to the field of business and entrepreneurship in Nepal through his pioneering, innovating and visional roles in various fields including central banking, private sector commercial banking, insurance and manufacturing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">New Business Age has been organizing Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">“They are being honoured for being our role models. We don't call them winners. Because they may be many more who deserve to be honoured. But we could not reach out to all of them because of our limited resources,” said Madan Lamsal, Chairman and Editor-in-chief of New Business Age group. “We hope they will do more in the future. We look forward to their higher achievements and investments in social good and corporate social responsibility in the years to come.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Prior to the award ceremony, a panel discussion on “Emerging Through the Crises” was organized where panelists comprising leaders from private sector, government and think tanks discussed resilience of Nepal’s business and economy to various crises including a decade long Maoists insurgency, earthquakes and trade blockades in 2015 and the recent Covid-19 pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">SAWTEE’s Chair Dr Posh Raj Pandey, FNCCI Vice President Chandra Dhakal, Nepal Rastra Bank’s Deputy Governor Dr Neelam Dhungana Timsina and Industry, Commerce and Supplies Secretary Dr Toya Gyawali were the panelists in the discussion moderated by Dr Kalpana Khanal, Senior Research Fellow at Policy Research Institute.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><u>LIST OF AWARD RECIPIENTS </u></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Company</strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Shivam Cement Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Commercial Bank </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Rastriya Banijya Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Siddhartha bank Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Standard Charter Bank Nepal Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Development Bank </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Lumbini Bikas Bank & Kamana Sewa Bikas Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Muktinath Bikas Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Shine Resunga Development Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Finance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Goodwill FinanceCompany</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Guheswori Merchant Banking and Finance</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: ICFC Finance Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Microfinance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Deprosc Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Forward Community Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Chhimek Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Life Insurance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd: </sup>Life Insurance Corporation(Nepal) Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Nepal Life Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: National Life Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Non-Life Insurance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Neco Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Sagarmatha Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Sikhar Insurance Company</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16253', 'image' => '20221212080924_IMG-20221212-WA0026.jpg', 'article_date' => '2022-12-12 19:53:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16512', 'article_category_id' => '1', 'title' => 'Himalaya Shumsher Rana Honoured with Lifetime Achievement Award', 'sub_title' => '', 'summary' => 'December 12: Himalaya Shumsher Rana, a noted business leader, has been conferred with the “Lifetime Achievement in Business Leadership Award 2022” during the Seventh NewBiz Business Conclave and Awards on Monday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">December 12: Himalaya Shumsher Rana, a noted business leader, has been conferred with the “Lifetime Achievement in Business Leadership Award 2022” during the Seventh NewBiz Business Conclave and Awards on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rana was felicitated with the lifetime achievement business award for his outstanding contribution to the field of business and entrepreneurship in Nepal, according to the jury of the awards ceremony. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rana, the founding governor of the country’s central bank Nepal Rastra Bank, is considered a source of inspiration to the entire business community for the zeal he showed even in the age of 65-75 years by initiating business ventures in different fields, and being still active in work even at the age of 96. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“He commands the respect of the country's entire private sector as well as of the professionals and general people for his pioneering, innovating and visional roles in a number of fields such as central banking, private sector commercial banking, insurance and manufacturing,” reads the award citation. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '16252', 'image' => '20221212082110_IMG-20221212-WA0030.jpg', 'article_date' => '2022-12-12 19:54:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16509', 'article_category_id' => '274', 'title' => 'Not Economic Crisis, but a Challenge, says Finance Minister Sharma ', 'sub_title' => '', 'summary' => 'Minister for Finance Janardan Sharma has said that recent challenges Nepal’s economy has been facing including the slow economic growth and shortage of liquidity have resulted from the lack of implementation of economic and business policies introduced by the government.', 'content' => '<p><span style="font-size:16px">December 12: Minister for Finance Janardan Sharma has said that recent challenges Nepal’s economy has been facing including the slow economic growth and shortage of liquidity have resulted from the lack of implementation of economic and business policies introduced by the government.</span></p> <p><span style="font-size:16px">“Its about the lack of the institutional and legal capacity. If we address them, many of the challenges we are facing would be resolved,” said Finance Minister Sharma, addressing the “7th Newbiz Business Conclave and Awards” on Monday.</span></p> <p><span style="font-size:16px">He also took strong exception to characterizing Nepal’s economic challenges as ‘crisis’. “There were comments that Nepal was going down the line of crisis like in Sri Lanka. That was wrong. We cannot call it a crisis. There are challenges that can be treated,” he said.</span></p> <p><span style="font-size:16px">Minister Finance Sharma also opined that Nepal cannot do or produce everything. “We should focus on certain areas like hydropower and IT where we have our competitive advantages,” he added.</span></p> <p><span style="font-size:16px">Speaking at the event as keynote speaker, Dr Nagesh Kumar, Director of the Institute for Studies in Industrial Development, India, said that rising inequalities between and within the economies has emerged as one of the major challenges for the world. </span></p> <p><span style="font-size:16px">According to Dr Kumar, there is widening inequalities of income within countries due to failure of economic growth to ‘lift all the boats’. </span></p> <p><span style="font-size:16px">“Some data show that Nepal has managed very well in addressing the widening inequality. Its social protection system is very good. It has not yet faced a disturbing trend of rising inequality and the rest of the world can learn from Nepal,” he said. </span></p> <p><span style="font-size:16px">He also said that the recent Covid-19 pandemic has exposed gaps in public health infrastructure, social protection, provision of basic services, vaccination as well as in the global economy. </span></p> <p><span style="font-size:16px"> Also speaking at the event, Shekhar Golchha, President of the Federation Nepalese Chambers of Commerce and Industry (FNCCI), said that the private sector, which coped with numerous challenges including conflict, power outage, blockade and earthquakes, is now currently facing internal challenges including the liquidity shortage. </span></p> <p><span style="font-size:16px">“We have emerged from all those crises including the political turmoils that took a toll on the economy. But, we are confident we can also overcome the current internal challenge if we work together,” said FNCCI President Golchha. </span></p> <p><span style="font-size:16px">Vishnu Agarwal, President of the Confederation of Nepalese Industries (CNI), said that the contribution of the manufacturing sector to the GDP has been falling in the last two decades. </span></p> <p><span style="font-size:16px">“We have to focus on industrialization to increase employment opportunities, boost foreign exchange reserves and accelerate the economic growth of the country,” said CNI President Agarwal. “There are some initiatives introduced by the government to promote industrialization. However, there is no satisfactory progress in the implementation of those measures.” </span></p> <p><span style="font-size:16px">Asian Paints is the main sponsor of the programme while Gods of Furniture, Metlife Insurance, Rastriya Banijya Bank, Nexus Evi, NLG Insurance, Dish Home, Fiber Net, Nepali Patro, President Travels and Tours, have supported the event. </span></p> <p><span style="font-size:16px">New Business Age has been organizing the Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16250', 'image' => '20221212071227_Finance Minister.jpg', 'article_date' => '2022-12-12 19:09:07', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 14 => array( 'Article' => array( 'id' => '16508', 'article_category_id' => '1', 'title' => 'Govt Urged to Prioritise Investment Attraction as Country Emerges through Crises ', 'sub_title' => 'Private sector leaders, government officials and economists discuss ways to navigate economic and business challenges in the country', 'summary' => 'December 12: Economists and policymakers have underlined the need to utilize the recent challenges to overhaul the country’s legal and regulatory systems to ease the process of doing business and prevent the economy from plunging into crisis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">December 12: Economists and policymakers have underlined the need to utilize the recent challenges to overhaul the country’s legal and regulatory systems to ease the process of doing business and prevent the economy from plunging into crisis.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a panel discussion “Emerging Through Crises” during the “7th Newbiz Business Conclave and Awards” on Monday, economists, authorities and private sector leaders said that the priority should be on attracting investment as the country emerges through various crises including the Covid-19 pandemic most recently. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“All ministries of the government are working to increase the competitiveness for doing business and to attract private investments in collaboration with the private sector,” said Dr Toya Gyawali, Secretary at the Ministry of Industry and Supplies. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking also at the panel discussion, Dr Neelam Dhungana Timsina, Deputy Governor at Nepal Rastra Bank, said that the central bank’s recent decision to raise policy rates and introduce expansionary monetary policy was aimed at addressing the rising inflation and ease the pressure on the external sector stability of the country. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The central bank and the government took expansionary fiscal and monetary policies to stop further deterioration or help revive the economy during the pandemic. These expansionary policies have worked in reviving the businesses shut or hit by the country then,” she said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">She defended the central bank’s move that has prompted the private sector to go into the street. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Now, we see a need to check the high growth in credit expansion fuelled by the expansionary monetary policy. At the same time, there were some external factors including the war in Ukraine that drove the prices in the market,” she added. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chandra Dhakal, Vice President of the Federation of Nepalese Chambers of Commerce and Industry(FNCCI), said that businesses and the private sector have helped the government through taxes even during crises like insurgency, earthquakes in 2015. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Even during the crises, troubled time or transition periods, the private sector opened industries and businesses, created jobs and paid taxes to the state even when we were told not to do so by the court,” said FNCCI Senior Vice President Dhakal. “Now, it's the time the government should support or encourage the private sector,” he added. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Amid concerns that Nepal’s graduation from the least developed country (LDC) status could have economic repercussions, Dr Posh Raj Pandey, Chair of SAWTEE, said that the LDCs graduation would not have a significant impact on the macroeconomic situation of the country. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The graduation status does mean that it would automatically solve the development challenges that we have been long facing. It would neither take us to a situation full of challenges,” he said. “We need a transition strategy that can maintain the development trajectory.” </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The panel discussion organized during the Seventh Edition of NewBiz Business Conclave and Awards also dwelt on the role of MSMEs and startups in diversifying domestic production, policies to support ICT and hydro-electricity sectors and the role of private sector in digitization and technological transformation, among others. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The panel discussion was moderated by Dr. Kalpana Khanal, Sr. Research Fellow at Policy Research Institute. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Asian Paints is the major sponsor of the programme while Gods of Furniture, Metlife Insurance, Rastriya Banijya Bank, Nexus EV, NLG Insurance, Dish Home Fiber Net, Nepali Patro, President Travels and Tours, have supported the event. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">New Business Age has been organizing Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></span></span></p> <p><br /> <br /> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '16249', 'image' => '20221212055511_IMG-20221212-WA0009.jpg', 'article_date' => '2022-12-12 17:53:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16523', 'article_category_id' => '1', 'title' => 'Handicraft Fair Concludes with Business of Rs 100 Million ', 'sub_title' => '', 'summary' => 'December 14: The 19th Handicraft Fair organized by the Federation of Handicraft Associations of Nepal (FHAN) concluded in Kathmandu on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: The 19th Handicraft Fair organized by the Federation of Handicraft Associations of Nepal (FHAN) concluded in Kathmandu on Tuesday. The organizer said that around 50,000 visitors attended the five-day fair which witnessed business worth Rs 100 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice-Chairman of the federation Dilli Ratna Tuladhar said that the fair has revitalized the handicraft business that suffered badly due to the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Bidya Devi Bhandari had inaugurated the fair on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the final day of the fair, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu visited the fair and handed over prizes to different individuals for their contribution to the handicraft sector. On the occasion, Minister Badu said the government has launched campaigns for production growth, development and prosperity and handicraft sector is a medium to achieve the goal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister also expressed government’s readiness to address the issues faced by the handicraft sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation, Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha, Chief Minister of Bagmati Province Rajendra Pandey and Province Tourism Minister Dipendra Shrestha and other officials visited the stalls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federation has stated that exports of handicraft goods has gradually gained momentum while the demand for the handicraft products is increasing in the domestic market with the inflow of tourists. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '16264', 'image' => '20221214100725_19th-Handicraft-Trade-Fair.jpg', 'article_date' => '2022-12-14 10:06:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16522', 'article_category_id' => '1', 'title' => 'Traffic along Narayangadh-Muglin Road to Halt for Four Hours a Day ', 'sub_title' => '', 'summary' => 'December 14: Traffic along the Narayangadh-Muglin road will be halted for four hours a day to construct bridges. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: Traffic along the Narayangadh-Muglin road will be halted for four hours a day to construct bridges. A meeting of the stakeholders on Tuesday decided to halt traffic along the road for one month to build bridges. Vehicular movement will be halted from 11 am to 3 pm each day. However, emergency vehicles like ambulance and fire engines will be allowed to move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Chitwan Ashman Tamang said that the works of downsizing hills at Simaltal, Kalikhola, Tuine Khola and Chisenji will take place in this period. Passenger buses, mini and microbuses and light vehicles will be barred from plying along the Pandhrakilo Bazaar and Jugedi between 11 am to 3 pm, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, heavy vehicles including lorries, trucks, tipper trucks and tankers will be stopped from Bhateri forest to Ramnagar from 10:50 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Passenger buses heading from Kathmandu will be stopped between Muglin Bazaar and Manakamana Gate at 10:55 am, and those heading from Pokhara between Benitar and Powerhouse. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, lorries heading from Kathmandu will be halted at Lebatar at 10:45 am, and those heading from Pokhara at Aanbukhaireni. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Repair of roads sections at various other places along the Narayangadh-Muglin road will also take place during this time. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-26', 'keywords' => '', 'description' => '', 'sortorder' => '16263', 'image' => '20221214094754_20210307101257_20210203120420_20200611120202_WB Road Project.jpg', 'article_date' => '2022-12-14 09:47:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16521', 'article_category_id' => '218', 'title' => 'Bank Interest Rates to Remain Stable for Poush ', 'sub_title' => '', 'summary' => 'commercial banks, development banks and finance companies have decided to keep the interest rate on deposits stable for the next month of mid-December to mid-January 2023. ', 'content' => '<p> </p> <p><span style="font-size:18px">December 14: At a time when industrialists and entrepreneurs have been protesting against the banks and financial institutions’ increased interest rates on lending, commercial banks, development banks and finance companies have decided to keep the interest rate on deposits stable for the next month of mid-December to mid-January 2023. </span></p> <p> </p> <p><span style="font-size:18px">Nepal Bankers’ Association Chairman Anil Kumar Upadhaya said that the association had decided to give continuity to the existing interest rates which the banks have enforced for the last two months. </span></p> <p> </p> <p><span style="font-size:18px">With the decision, interest rate of 12.133 per cent per annum on fixed deposits to individual depositors will be maintained for the next month. Similarly, an interest rate of 10.133 per annum on fixed deposits to institutional depositors will be given continuity for the next month as well. </span></p> <p><span style="font-size:18px">Development banks and finance companies have also decided to keep the interest rate unchanged for the next month of mid-December to mid-January. </span></p> <p><span style="font-size:18px">Development Bankers’ Association had fixed the interest rate of 12.85 per cent on fixed deposit by reducing it by 0.15 per cent for the current month. </span></p> <p> </p> <p><span style="font-size:18px">Likewise, finance companies have been offering an interest rate of 13 per cent on 3-months’ fixed deposit and 13.30 per on 1 year’s fixed deposits for the existing month. </span></p> <p> </p> <p><span style="font-size:18px">As per the Nepal Rastra Bank’s directives, banks and financial institutions have to publish interest rate they wish to enforce every month before the beginning of new month. </span><br /> </p> <p><span style="font-size:18px">Banks can increase their interest only by 10 per cent at a time. But, citing liquidity crunch, umbrella organizations of banks and financial institutions have been controlling interest rate to ward off unhealthy competition. </span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '16262', 'image' => '20221214063849_collage (6).jpg', 'article_date' => '2022-12-14 06:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '16520', 'article_category_id' => '1', 'title' => 'Maximum Temperature during Winter to be Above Average this Year ', 'sub_title' => '', 'summary' => 'December 13: The maximum temperature throughout the country is likely to be more than average and the rainfall less than average in most parts of the country during the winter this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 13: The maximum temperature throughout the country is likely to be more than average and the rainfall less than average in most parts of the country during the winter this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The average rainfall/average temperature means the rainfall and temperature of a place for a long time (1991 to 2020). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Hydrology and Meteorology stated that the Sudurpaschim province and the districts of Lumbini Province, except Rukum West, Rolpa and Pyuthan, the central and eastern districts of Gandaki Province, including Lamjung, Syangja, Tanahun, Gorakha, among others, Dolakha of Bagmati Province and the northern districts of Province No 1, including Taplejung, Sankhuwasabha and Solukhumbu will experience the average minimum temperature whereas the rest of the regions will experience more than the average temperature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department under the Ministry of Energy, Water Resources and Irrigation has made public the estimation of the rainfall and temperature during the winter (December 1 to March 28), informed Senior Meteorologist at the Department, Indira Kandel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department, most places of the country will likely receive less than the average rainfall in the winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of less than average rainfall is 45 to 55 percent in the eastern and Tarai districts of Province No 1, including Taplejung, Panchthar, Tehrathum, Ilam, Jhapa, Morang and Sunsari, the western parts of the Madhes Province including Parsa, Bara, Rautahat among other districts, and Kathmandu, Bhaktapur, Lalitpur, Nuwakot, Makawanpur, among other districts, the central and southern districts as Kaski, Syangja and Parbat of the Gandaki Province, most of the districts of Lumbini Province and Darchula, Baitadi, Dadeldhura, Doti, Kanchanpur and Kailali in the Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the possibility of less than average rainfall is 35 to 45 percent in rest of the parts of the country except in Bajhang and Bajura districts of Sudurpaschim Province, north-western part of Humla, Mugu and Dolpa in Karnali Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the maximum temperature is likely to be more than the average throughout the country this winter, meteorologist Kandel said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of the maximum temperature being more than the average is from 55 to 65 percent in the western parts of Humla and Mugu of Karnali Province and Bajura district of Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The chances of the maximum temperature being over the average temperature is 45 to 55 percent in Solukhumbu and Ilam, Jhapa, Morang and Sunsari of Province No 1, in Kavrepalanchok, Kathmandu, Lalitpur, Bhaktapur, Nuwakot, Makawanpur, Chitwan of Bagmati Province, Parsa and Saptari districts of Madhes Province, most of the districts of Gandaki Province except the north-eastern ones, most parts of Lumbini Province and the eastern and northern parts of Karnali Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of the maximum temperature becoming more than the average is 35 to 45 percent in the rest of the regions of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16261', 'image' => '20221213060159_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-12-13 18:01:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16519', 'article_category_id' => '270', 'title' => 'Narayangadh-Muglin Road to Be Closed for Four Hours Daily ', 'sub_title' => '', 'summary' => ' Vehicular movement along Narayangadh-Muglin road section will be closed to construct bridges for four hours daily. ', 'content' => '<p><span style="font-size:18px"> <br /> <br /> December 13: Vehicular movement along Narayangadh-Muglin road section will be closed to construct bridges for four hours daily. </span><br /> </p> <p><span style="font-size:18px">A meeting held at the District Administration Office (DAO) Chitwan chaired by CDO Ashman Tamang took the decision to close the transportation service along the road for a month starting from December 20. The road will be closed from 11:00 am to 3:00 pm. </span><br /> </p> <p><span style="font-size:18px">The vehicular movement will be shut down for the construction of bridges over Kalikhola, Simtal, Tuin Khola, and Chisenji khola.</span><br /> </p> <p><span style="font-size:18px">As per the decision, passenger buses, mini bus, micro buses, and small vehicles coming from Narayangadh will be stopped from 15 Kilo market to Jugedi. Heavy vehicles such as trucks, lorries, trailers, tippers and tankers will be stopped from Bhateri jungle to Ramnagar at 11: 00 am.</span></p> <p> </p> <p><span style="font-size:18px">Similarly, commuter buses coming from Kathmandu will be stopped from Muglin Bazar to Manakamana Cable Car gate, while passenger buses coming from Pokhara will be stopped from Benitar to Powerhouse at 10:55 am.<br /> Likewise, heavy vehicles coming from Kathmandu will be stopped at Lewatar, whereas heavy vehicles coming from Pokhara will be stopped at Aanbukahireni at 10:45 am. </span><br /> </p> <p><span style="font-size:18px">During the road closure, ambulances and firefighters, however, will be allowed to ply. <br /> Contractors assigned agreement to construct bridges will deploy adequate manpower and resources to expedite the construction work. Meanwhile, the road will be repaired in different places simultaneously along the same section. </span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16260', 'image' => '20221213052556_collage (9).jpg', 'article_date' => '2022-12-13 17:20:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '16518', 'article_category_id' => '231', 'title' => 'Asian Hydropower Limited Opens IPO for Project-Affected Locals and Migrant Workers ', 'sub_title' => '', 'summary' => 'Asian Hydropower Limited has opened sale of its Initial Public Offering(IPO) to the locals of project-affected Ilam district and Nepali citizens working in foreign countries from Tuesday. ', 'content' => '<p><span style="font-size:18px"> <br /> December 13: Asian Hydropower Limited has opened sale of its Initial Public Offering(IPO) to the locals of project-affected Ilam district and Nepali citizens working in foreign countries from Tuesday. </span></p> <p> </p> <p><span style="font-size:18px">In the first phase, the company has issued 3, 40,000 unit shares, worth Rs, 3,40,00000, which is 10 per cent of the total paid-up capital of 34, 0000000, for the project-affected locals of Ilam district. Locals can apply a minimum of 10 shares, while the maximum unit of shares they can purchase is 20,000 at a face value of Rs 100. The closing date of the IPO is December 27, 2022. If the IPO remains under-subscribed, the deadline to apply will be extended till January 11, 2023. </span></p> <p> </p> <p><span style="font-size:18px">Similarly, Nepalese working abroad can apply for a minimum of 10 unit shares, while the maximum number of shares they can apply is 20,000. The closing date of the IPO for them is December 27 and the deadline will not be extended even if the IPO is not fully subscribed allocated for them. Out of 24.71 per cent of shares which is 8,40000 unit shares worth Rs 8,40,00000 allocated for the general public, ten per cent, that is 84,000 units of shares worth Rs, 84,00000 have been reserved for migrant workers. </span><br /> </p> <p><span style="font-size:18px">After the completion of the first phase of the IPO allotment, shares will be issued to the general public.<br /> Asian Hydropower Limited has developed Lower Jogmai Khola Hydropower in Ilam district. The run-of-the river project has installed capacity of 6.2 megawatts.</span><br /> </p> <p><span style="font-size:18px">The project has been producing power for the last one year.<br /> Per megawatt cost for construction of the hydropower project stands at Rs 21.15 crores. </span><br /> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16259', 'image' => '20221213043526_collage (8).jpg', 'article_date' => '2022-12-13 16:28:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16517', 'article_category_id' => '1', 'title' => 'IMF says Global Debt Well Above Pre-Pandemic Levels Despite Steep Drop in 2021', 'sub_title' => '', 'summary' => 'December 13: Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, Reuters reported citing the International Monetary Fund (IMF).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">December 13: Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, Reuters reported citing the International Monetary Fund (IMF). According to the news agency, the overall debt, however, remained well above pre-pandemic levels.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In a blog released with its inaugural Global Debt Monitor, the IMF said total public and private debt decreased by 10 percentage points to 247 percent of global gross domestic product (GDP) in 2021 from its peak of 257 percent in 2020. That compares to around 195 percent of GDP in 2007, before the global financial crisis, added Reuters.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In dollar terms, global debt continued to rise, although at a much slower rate, reaching a record $235 trillion last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“Debt ratios are expected to drop further in most countries in 2022 given nominal GDP growth, but 2023 would usher in a much flatter profile given forecast economic declines in many economies and the rising costs of servicing debt,” Reuters quoted IMF fiscal affairs director Vitor Gaspar as saying.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The global lender said private debt, which includes non-financial corporate and household obligations, drove the overall reduction, decreasing by 6 percentage points to 153 percent of GDP in 2021, citing data for 190 countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The drop of 4 percentage points for public debt, to 96 percent of GDP, was the largest such drop in decades, it said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The unusually large swings in debt ratios - or "global debt rollercoaster" - were caused by the economic rebound from COVID-19 and the ensuring swift rise in inflation, the IMF said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Debt dynamics varied widely across country groups. Advanced economies saw the biggest drop in debt, with both public and private debt dropping 5 percent of GDP last year, followed by similar results in emerging markets, excluding China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">But low-income countries saw their total debt ratios continue to increase in 2021, driven by higher private debt, with total debt reaching 88 percent of GDP.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">There are growing concerns about the ability of low- and middle-income countries to repay their debts, with an estimated 25 percent of emerging market countries and over 60 percent of low-income countries either in or near debt distress.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">High inflation levels continued to help reduce debt ratios in 2022, but fiscal spending would likely increase if inflation becomes persistent, which could lead to higher premiums, IMF officials said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">They suggested that the governments should pursue fiscal policies that help reduced inflationary pressures now and debt vulnerabilities over the long term, while continuing to support the most vulnerable. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16258', 'image' => '20221213124024_20181227013520_debt-fiscalriskcartoon-384X265.jpg', 'article_date' => '2022-12-13 12:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16516', 'article_category_id' => '252', 'title' => 'Last Chance of World Cup Glory for Messi and Modric', 'sub_title' => '', 'summary' => 'December 13: Argentina and Lionel Messi face Croatia on Tuesday in a World Cup semi-final that pits South American flair against the guile of Luka Modric and a remarkable fighting spirit.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 13: Argentina and Lionel Messi face Croatia on Tuesday in a World Cup semi-final that pits South American flair against the guile of Luka Modric and a remarkable fighting spirit, AFP reported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Two iconic Ballon d'Or-winning number 10s. Two beaten World Cup finalists. Two captains. One last chance to finally reach the peak of football and lift the famous trophy before they retire,” BBC wrote on its website.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It is hard to look past Argentina's Lionel Messi and Croatia's Luka Modric as the two difference-makers in Tuesday's first World Cup semi-final, added the BBC.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">With Paris St-Germain's Messi now 35 and Real Madrid's Modric 37, it seems highly likely the final or third-place play-off this weekend will be where their World Cup careers end.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to AFP, Messi will attempt to guide Argentina into the final for the second time in eight years against the beaten finalists in 2018.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Messi, who suffered defeat to Germany in the 2014 final, is desperate to crown an extraordinary career by finally winning the World Cup and emulating another Argentinian legend, the late Diego Maradona.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Paris Saint-Germain forward was a pivotal figure in Friday's stormy quarter-final win over the Netherlands, when a record 18 yellow cards were shown and players from both sides were involved in a melee as the referee fought to regain control, the French news agency added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia are hoping Argentina's bad-tempered World Cup quarter-final qualification over the Netherlands with 16 yellow cards and one red will not spill over into Tuesday's semi-final, Reuters reported citing coach Zlatko Dalic. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia, who beat Japan and pre-tournament favourites Brazil in penalty shoot-outs to reach the last four, have not won a knockout game in normal time at a major tournament since they came third at the 1998 World Cup.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Despite doing it the hard way, the country of 3.9 million people surprised the football world by reaching the final four years ago, where France crushed their dreams with a 4-2 win.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia, with Real Madrid playmaker Modric still the leader on the pitch at the age of 37, have again defied the odds to stand on the brink of a second successive final.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Coach Zlatko Dalic said he wanted Tuesday's match to be remembered as the "greatest game" in the country's history.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The match is scheduled for 12:45 am tonight (December 14).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16257', 'image' => '20221213122615_20221208010146_maxresdefault.jpg', 'article_date' => '2022-12-13 12:25:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16515', 'article_category_id' => '1', 'title' => 'More Invalid Votes under PR ', 'sub_title' => '', 'summary' => 'December 13: There were more invalid votes under the proportional representation (PR) than under the first-past-the-post (FPTP) system.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 13: There were more invalid votes under the proportional representation (PR) than under the first-past-the-post (FPTP) system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the total 11.04 million votes cast under the FPTP electoral system in the recently held elections to the House of Representatives and the provincial assemblies, 5.06 percent votes were invalid, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 5.09 percent votes under the PR system were invalid out of the total 11.02 million votes cast. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the EC said it would announce final name list of those picked under the PR on Tuesday (December 13). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16256', 'image' => '20221213113457_20211124020029_EC.jpg', 'article_date' => '2022-12-13 11:34:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16514', 'article_category_id' => '274', 'title' => 'Industrialists, Entrepreneurs from Syangja Submit 10-Point Memorandum to the Government ', 'sub_title' => '', 'summary' => ' Six organizations of industrialists and entrepreneurs from Syangja have submitted a 10-point demand to the Ministry of Finance and Nepal Rastra Bank. ', 'content' => '<p> </p> <p><span style="font-size:20px">December 13: Six organizations of industrialists and entrepreneurs from Syangja have submitted a 10-point demand to the Ministry of Finance and Nepal Rastra Bank. </span></p> <p> </p> <p><span style="font-size:20px">Industrialists and entrepreneurs have jointly submitted the memorandum to the Rastra Bank and Finance Ministry through Waling Area Administration Office, drawing a serious attention to Nepal Rastra Bank’s directives and current working capital guidelines-2079 BS. </span></p> <p> </p> <p><span style="font-size:20px">Waling Industry Association, Synagja District Federation of Nepalese Chamber of Commerce and Industry, Galyang Chapter of FNCCI, Bhirkot chapter of FNCCI and Chapakot chapter of FNCCI have submitted the memorandum. <br /> </span></p> <p><span style="font-size:20px">The memorandum states that liquidity crunch had led to the rise of interest rates, hitting businesses and enterprises hard. They have demanded that government and Rastra Bank slash the interest rates on lending at single digit. </span></p> <p> </p> <p><span style="font-size:20px">Entrepreneurs bemoaned that banks would have to cooperate during the crisis in economy. They have underlined the need to control the rising interest rate and make liquidity available. They have also demanded to keep spread rate within 3 per cent. </span><br /> </p> <p><span style="font-size:20px">Earlier, industrialists and entrepreneurs had staged a peaceful rally with slogans. Area Administration Office Waling Chief Ghanshayam Gautam said that he would send the memorandum to the concerned agencies at the earliest. </span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16255', 'image' => '20221213110012_collage (5).jpg', 'article_date' => '2022-12-13 10:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '16513', 'article_category_id' => '277', 'title' => 'Paddy Production Rises in Palpa', 'sub_title' => '', 'summary' => 'Compared to the last year, paddy production has increased in Palpa this year.', 'content' => '<p><br /> <br /> <span style="font-size:20px">December: Compared to the last year, paddy production has increased in Palpa this year. </span></p> <p> </p> <p><span style="font-size:20px">According to Agriculture Knowledge Center Palpa Chief Kamana Adhikari, Palpa produced 32,019 metric tons of paddy this year. Paddy was cultivated in 8,210 hectares of the land in the district.</span></p> <p> </p> <p><span style="font-size:20px">“Disease and insects attacked paddy at seed-bearing time. Despite this, their effect was less than expected”, added Adhikari.</span></p> <p> </p> <p><span style="font-size:20px">The district had produced 31,428 metric tons of the paddy cultivated in 8,206 hectares of the land. “Increasing use of modern technology, and use of improved seeds recommended by agriculture technicians have led to the rise od paddy production”, said Center’s Information Officer Milan Gaire.</span></p> <p> </p> <p><span style="font-size:20px">Farmers have been planting various species of paddy such as sabitri, hybrid, sanwa mansuli, US-312, shnati, khumal-3, among others, in the district. Local paddy types are hardly cultivated these days. Peasants and farmers cultivate improved seed to increase productivity. </span></p> <p> </p> <p><span style="font-size:20px">Adequate rainfall at the time of paddy plantation and construction of canals have encouraged farmers to plant paddy. Use of thresher machine and tractor has made paddy cultivation easy for famers, motivating them to plant the paddy even in the barren field of late. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16254', 'image' => '20221213100633_collage (4).jpg', 'article_date' => '2022-12-13 10:00:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '16511', 'article_category_id' => '273', 'title' => 'NewBiz Business Conclave & Awards: Shivam Cements Declared Best Managed Company', 'sub_title' => 'Awards distributed in 8 categories; Standard Chartered Bank Nepal named as “Best Managed Commercial Bank 2022”', 'summary' => 'December 12: Shivam Cements has been adjudged as the best managed company of 2022.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">December 12: Shivam Cements has been adjudged as the best managed company of 2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The publicly listed cement manufacturing company was honored with the title of the “Best Managed Company 2022” on Monday amid a grand ceremony during the 7</span></span><sup><span style="font-size:6.5pt"><span style="font-family:"Arial","sans-serif"">th</span></span></sup><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif""> Newbiz Business Conclave & Awards” organised by New Business Age Pvt Ltd.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The event, which features Asian Paints as the main sponsor, also felicitated seven companies as the best managed companies in their respective categories in addition to a lifetime achievement award to a business leader.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Standard Chartered Bank Nepal Ltd (SCBNL) received the award of the “Best Managed Commercial Bank 2022”. Standard Chartered Bank Nepal is the only international bank currently operating in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Towards development bank category, it was Shine Resunga Development Bank to bag the “Best</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Development Bank 2022” award.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">ICFC Finance Ltd won the award of the “Best Managed Finance Company”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, National Life Insurance Company Ltd received the honor of the “Best Managed Life Insurance Company” while Shikhar Insurance Company Ltd was named the “Best Managed Non-Life Insurance Company 2022”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">It was Chhimek Laghubitta Bittiya Sanstha Ltd which clinched the title of the “Best Managed Microfinance Company 2022”. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">According to the organizer, the companies and individuals honored during the event were selected by a jury after going through detailed research on each of the short-listed organizations and business leaders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Each category had an independent jury which short-listed possible companies and individuals, and discussed various aspects among themselves and with outside experts and regulators before making the final selection, said the organizer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">During the ceremony, New Business Age Ltd, the publisher of the monthly English magazine New Business Age and Aarthik Abhiyan National Daily, felicitated Himalaya Shumsher Rana with the “Lifetime Achievement in Business Award 2022”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The jury said that he was honored with the award for his outstanding contribution to the field of business and entrepreneurship in Nepal through his pioneering, innovating and visional roles in various fields including central banking, private sector commercial banking, insurance and manufacturing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">New Business Age has been organizing Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">“They are being honoured for being our role models. We don't call them winners. Because they may be many more who deserve to be honoured. But we could not reach out to all of them because of our limited resources,” said Madan Lamsal, Chairman and Editor-in-chief of New Business Age group. “We hope they will do more in the future. We look forward to their higher achievements and investments in social good and corporate social responsibility in the years to come.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Prior to the award ceremony, a panel discussion on “Emerging Through the Crises” was organized where panelists comprising leaders from private sector, government and think tanks discussed resilience of Nepal’s business and economy to various crises including a decade long Maoists insurgency, earthquakes and trade blockades in 2015 and the recent Covid-19 pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">SAWTEE’s Chair Dr Posh Raj Pandey, FNCCI Vice President Chandra Dhakal, Nepal Rastra Bank’s Deputy Governor Dr Neelam Dhungana Timsina and Industry, Commerce and Supplies Secretary Dr Toya Gyawali were the panelists in the discussion moderated by Dr Kalpana Khanal, Senior Research Fellow at Policy Research Institute.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><u>LIST OF AWARD RECIPIENTS </u></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Company</strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Shivam Cement Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Commercial Bank </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Rastriya Banijya Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Siddhartha bank Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Standard Charter Bank Nepal Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Development Bank </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Lumbini Bikas Bank & Kamana Sewa Bikas Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Muktinath Bikas Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Shine Resunga Development Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Finance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Goodwill FinanceCompany</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Guheswori Merchant Banking and Finance</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: ICFC Finance Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Microfinance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Deprosc Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Forward Community Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Chhimek Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Life Insurance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd: </sup>Life Insurance Corporation(Nepal) Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Nepal Life Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: National Life Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Non-Life Insurance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Neco Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Sagarmatha Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Sikhar Insurance Company</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16253', 'image' => '20221212080924_IMG-20221212-WA0026.jpg', 'article_date' => '2022-12-12 19:53:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16512', 'article_category_id' => '1', 'title' => 'Himalaya Shumsher Rana Honoured with Lifetime Achievement Award', 'sub_title' => '', 'summary' => 'December 12: Himalaya Shumsher Rana, a noted business leader, has been conferred with the “Lifetime Achievement in Business Leadership Award 2022” during the Seventh NewBiz Business Conclave and Awards on Monday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">December 12: Himalaya Shumsher Rana, a noted business leader, has been conferred with the “Lifetime Achievement in Business Leadership Award 2022” during the Seventh NewBiz Business Conclave and Awards on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rana was felicitated with the lifetime achievement business award for his outstanding contribution to the field of business and entrepreneurship in Nepal, according to the jury of the awards ceremony. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rana, the founding governor of the country’s central bank Nepal Rastra Bank, is considered a source of inspiration to the entire business community for the zeal he showed even in the age of 65-75 years by initiating business ventures in different fields, and being still active in work even at the age of 96. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“He commands the respect of the country's entire private sector as well as of the professionals and general people for his pioneering, innovating and visional roles in a number of fields such as central banking, private sector commercial banking, insurance and manufacturing,” reads the award citation. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '16252', 'image' => '20221212082110_IMG-20221212-WA0030.jpg', 'article_date' => '2022-12-12 19:54:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16509', 'article_category_id' => '274', 'title' => 'Not Economic Crisis, but a Challenge, says Finance Minister Sharma ', 'sub_title' => '', 'summary' => 'Minister for Finance Janardan Sharma has said that recent challenges Nepal’s economy has been facing including the slow economic growth and shortage of liquidity have resulted from the lack of implementation of economic and business policies introduced by the government.', 'content' => '<p><span style="font-size:16px">December 12: Minister for Finance Janardan Sharma has said that recent challenges Nepal’s economy has been facing including the slow economic growth and shortage of liquidity have resulted from the lack of implementation of economic and business policies introduced by the government.</span></p> <p><span style="font-size:16px">“Its about the lack of the institutional and legal capacity. If we address them, many of the challenges we are facing would be resolved,” said Finance Minister Sharma, addressing the “7th Newbiz Business Conclave and Awards” on Monday.</span></p> <p><span style="font-size:16px">He also took strong exception to characterizing Nepal’s economic challenges as ‘crisis’. “There were comments that Nepal was going down the line of crisis like in Sri Lanka. That was wrong. We cannot call it a crisis. There are challenges that can be treated,” he said.</span></p> <p><span style="font-size:16px">Minister Finance Sharma also opined that Nepal cannot do or produce everything. “We should focus on certain areas like hydropower and IT where we have our competitive advantages,” he added.</span></p> <p><span style="font-size:16px">Speaking at the event as keynote speaker, Dr Nagesh Kumar, Director of the Institute for Studies in Industrial Development, India, said that rising inequalities between and within the economies has emerged as one of the major challenges for the world. </span></p> <p><span style="font-size:16px">According to Dr Kumar, there is widening inequalities of income within countries due to failure of economic growth to ‘lift all the boats’. </span></p> <p><span style="font-size:16px">“Some data show that Nepal has managed very well in addressing the widening inequality. Its social protection system is very good. It has not yet faced a disturbing trend of rising inequality and the rest of the world can learn from Nepal,” he said. </span></p> <p><span style="font-size:16px">He also said that the recent Covid-19 pandemic has exposed gaps in public health infrastructure, social protection, provision of basic services, vaccination as well as in the global economy. </span></p> <p><span style="font-size:16px"> Also speaking at the event, Shekhar Golchha, President of the Federation Nepalese Chambers of Commerce and Industry (FNCCI), said that the private sector, which coped with numerous challenges including conflict, power outage, blockade and earthquakes, is now currently facing internal challenges including the liquidity shortage. </span></p> <p><span style="font-size:16px">“We have emerged from all those crises including the political turmoils that took a toll on the economy. But, we are confident we can also overcome the current internal challenge if we work together,” said FNCCI President Golchha. </span></p> <p><span style="font-size:16px">Vishnu Agarwal, President of the Confederation of Nepalese Industries (CNI), said that the contribution of the manufacturing sector to the GDP has been falling in the last two decades. </span></p> <p><span style="font-size:16px">“We have to focus on industrialization to increase employment opportunities, boost foreign exchange reserves and accelerate the economic growth of the country,” said CNI President Agarwal. “There are some initiatives introduced by the government to promote industrialization. However, there is no satisfactory progress in the implementation of those measures.” </span></p> <p><span style="font-size:16px">Asian Paints is the main sponsor of the programme while Gods of Furniture, Metlife Insurance, Rastriya Banijya Bank, Nexus Evi, NLG Insurance, Dish Home, Fiber Net, Nepali Patro, President Travels and Tours, have supported the event. </span></p> <p><span style="font-size:16px">New Business Age has been organizing the Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16250', 'image' => '20221212071227_Finance Minister.jpg', 'article_date' => '2022-12-12 19:09:07', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 14 => array( 'Article' => array( 'id' => '16508', 'article_category_id' => '1', 'title' => 'Govt Urged to Prioritise Investment Attraction as Country Emerges through Crises ', 'sub_title' => 'Private sector leaders, government officials and economists discuss ways to navigate economic and business challenges in the country', 'summary' => 'December 12: Economists and policymakers have underlined the need to utilize the recent challenges to overhaul the country’s legal and regulatory systems to ease the process of doing business and prevent the economy from plunging into crisis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">December 12: Economists and policymakers have underlined the need to utilize the recent challenges to overhaul the country’s legal and regulatory systems to ease the process of doing business and prevent the economy from plunging into crisis.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a panel discussion “Emerging Through Crises” during the “7th Newbiz Business Conclave and Awards” on Monday, economists, authorities and private sector leaders said that the priority should be on attracting investment as the country emerges through various crises including the Covid-19 pandemic most recently. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“All ministries of the government are working to increase the competitiveness for doing business and to attract private investments in collaboration with the private sector,” said Dr Toya Gyawali, Secretary at the Ministry of Industry and Supplies. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking also at the panel discussion, Dr Neelam Dhungana Timsina, Deputy Governor at Nepal Rastra Bank, said that the central bank’s recent decision to raise policy rates and introduce expansionary monetary policy was aimed at addressing the rising inflation and ease the pressure on the external sector stability of the country. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The central bank and the government took expansionary fiscal and monetary policies to stop further deterioration or help revive the economy during the pandemic. These expansionary policies have worked in reviving the businesses shut or hit by the country then,” she said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">She defended the central bank’s move that has prompted the private sector to go into the street. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Now, we see a need to check the high growth in credit expansion fuelled by the expansionary monetary policy. At the same time, there were some external factors including the war in Ukraine that drove the prices in the market,” she added. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chandra Dhakal, Vice President of the Federation of Nepalese Chambers of Commerce and Industry(FNCCI), said that businesses and the private sector have helped the government through taxes even during crises like insurgency, earthquakes in 2015. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Even during the crises, troubled time or transition periods, the private sector opened industries and businesses, created jobs and paid taxes to the state even when we were told not to do so by the court,” said FNCCI Senior Vice President Dhakal. “Now, it's the time the government should support or encourage the private sector,” he added. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Amid concerns that Nepal’s graduation from the least developed country (LDC) status could have economic repercussions, Dr Posh Raj Pandey, Chair of SAWTEE, said that the LDCs graduation would not have a significant impact on the macroeconomic situation of the country. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The graduation status does mean that it would automatically solve the development challenges that we have been long facing. It would neither take us to a situation full of challenges,” he said. “We need a transition strategy that can maintain the development trajectory.” </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The panel discussion organized during the Seventh Edition of NewBiz Business Conclave and Awards also dwelt on the role of MSMEs and startups in diversifying domestic production, policies to support ICT and hydro-electricity sectors and the role of private sector in digitization and technological transformation, among others. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The panel discussion was moderated by Dr. Kalpana Khanal, Sr. Research Fellow at Policy Research Institute. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Asian Paints is the major sponsor of the programme while Gods of Furniture, Metlife Insurance, Rastriya Banijya Bank, Nexus EV, NLG Insurance, Dish Home Fiber Net, Nepali Patro, President Travels and Tours, have supported the event. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">New Business Age has been organizing Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></span></span></p> <p><br /> <br /> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '16249', 'image' => '20221212055511_IMG-20221212-WA0009.jpg', 'article_date' => '2022-12-12 17:53:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '16523', 'article_category_id' => '1', 'title' => 'Handicraft Fair Concludes with Business of Rs 100 Million ', 'sub_title' => '', 'summary' => 'December 14: The 19th Handicraft Fair organized by the Federation of Handicraft Associations of Nepal (FHAN) concluded in Kathmandu on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: The 19th Handicraft Fair organized by the Federation of Handicraft Associations of Nepal (FHAN) concluded in Kathmandu on Tuesday. The organizer said that around 50,000 visitors attended the five-day fair which witnessed business worth Rs 100 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice-Chairman of the federation Dilli Ratna Tuladhar said that the fair has revitalized the handicraft business that suffered badly due to the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Bidya Devi Bhandari had inaugurated the fair on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the final day of the fair, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu visited the fair and handed over prizes to different individuals for their contribution to the handicraft sector. On the occasion, Minister Badu said the government has launched campaigns for production growth, development and prosperity and handicraft sector is a medium to achieve the goal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister also expressed government’s readiness to address the issues faced by the handicraft sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation, Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha, Chief Minister of Bagmati Province Rajendra Pandey and Province Tourism Minister Dipendra Shrestha and other officials visited the stalls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federation has stated that exports of handicraft goods has gradually gained momentum while the demand for the handicraft products is increasing in the domestic market with the inflow of tourists. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '16264', 'image' => '20221214100725_19th-Handicraft-Trade-Fair.jpg', 'article_date' => '2022-12-14 10:06:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16522', 'article_category_id' => '1', 'title' => 'Traffic along Narayangadh-Muglin Road to Halt for Four Hours a Day ', 'sub_title' => '', 'summary' => 'December 14: Traffic along the Narayangadh-Muglin road will be halted for four hours a day to construct bridges. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: Traffic along the Narayangadh-Muglin road will be halted for four hours a day to construct bridges. A meeting of the stakeholders on Tuesday decided to halt traffic along the road for one month to build bridges. Vehicular movement will be halted from 11 am to 3 pm each day. However, emergency vehicles like ambulance and fire engines will be allowed to move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer of Chitwan Ashman Tamang said that the works of downsizing hills at Simaltal, Kalikhola, Tuine Khola and Chisenji will take place in this period. Passenger buses, mini and microbuses and light vehicles will be barred from plying along the Pandhrakilo Bazaar and Jugedi between 11 am to 3 pm, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, heavy vehicles including lorries, trucks, tipper trucks and tankers will be stopped from Bhateri forest to Ramnagar from 10:50 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Passenger buses heading from Kathmandu will be stopped between Muglin Bazaar and Manakamana Gate at 10:55 am, and those heading from Pokhara between Benitar and Powerhouse. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, lorries heading from Kathmandu will be halted at Lebatar at 10:45 am, and those heading from Pokhara at Aanbukhaireni. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Repair of roads sections at various other places along the Narayangadh-Muglin road will also take place during this time. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-26', 'keywords' => '', 'description' => '', 'sortorder' => '16263', 'image' => '20221214094754_20210307101257_20210203120420_20200611120202_WB Road Project.jpg', 'article_date' => '2022-12-14 09:47:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16521', 'article_category_id' => '218', 'title' => 'Bank Interest Rates to Remain Stable for Poush ', 'sub_title' => '', 'summary' => 'commercial banks, development banks and finance companies have decided to keep the interest rate on deposits stable for the next month of mid-December to mid-January 2023. ', 'content' => '<p> </p> <p><span style="font-size:18px">December 14: At a time when industrialists and entrepreneurs have been protesting against the banks and financial institutions’ increased interest rates on lending, commercial banks, development banks and finance companies have decided to keep the interest rate on deposits stable for the next month of mid-December to mid-January 2023. </span></p> <p> </p> <p><span style="font-size:18px">Nepal Bankers’ Association Chairman Anil Kumar Upadhaya said that the association had decided to give continuity to the existing interest rates which the banks have enforced for the last two months. </span></p> <p> </p> <p><span style="font-size:18px">With the decision, interest rate of 12.133 per cent per annum on fixed deposits to individual depositors will be maintained for the next month. Similarly, an interest rate of 10.133 per annum on fixed deposits to institutional depositors will be given continuity for the next month as well. </span></p> <p><span style="font-size:18px">Development banks and finance companies have also decided to keep the interest rate unchanged for the next month of mid-December to mid-January. </span></p> <p><span style="font-size:18px">Development Bankers’ Association had fixed the interest rate of 12.85 per cent on fixed deposit by reducing it by 0.15 per cent for the current month. </span></p> <p> </p> <p><span style="font-size:18px">Likewise, finance companies have been offering an interest rate of 13 per cent on 3-months’ fixed deposit and 13.30 per on 1 year’s fixed deposits for the existing month. </span></p> <p> </p> <p><span style="font-size:18px">As per the Nepal Rastra Bank’s directives, banks and financial institutions have to publish interest rate they wish to enforce every month before the beginning of new month. </span><br /> </p> <p><span style="font-size:18px">Banks can increase their interest only by 10 per cent at a time. But, citing liquidity crunch, umbrella organizations of banks and financial institutions have been controlling interest rate to ward off unhealthy competition. </span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-14', 'modified' => '2022-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '16262', 'image' => '20221214063849_collage (6).jpg', 'article_date' => '2022-12-14 06:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '16520', 'article_category_id' => '1', 'title' => 'Maximum Temperature during Winter to be Above Average this Year ', 'sub_title' => '', 'summary' => 'December 13: The maximum temperature throughout the country is likely to be more than average and the rainfall less than average in most parts of the country during the winter this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 13: The maximum temperature throughout the country is likely to be more than average and the rainfall less than average in most parts of the country during the winter this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The average rainfall/average temperature means the rainfall and temperature of a place for a long time (1991 to 2020). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Hydrology and Meteorology stated that the Sudurpaschim province and the districts of Lumbini Province, except Rukum West, Rolpa and Pyuthan, the central and eastern districts of Gandaki Province, including Lamjung, Syangja, Tanahun, Gorakha, among others, Dolakha of Bagmati Province and the northern districts of Province No 1, including Taplejung, Sankhuwasabha and Solukhumbu will experience the average minimum temperature whereas the rest of the regions will experience more than the average temperature. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department under the Ministry of Energy, Water Resources and Irrigation has made public the estimation of the rainfall and temperature during the winter (December 1 to March 28), informed Senior Meteorologist at the Department, Indira Kandel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department, most places of the country will likely receive less than the average rainfall in the winter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of less than average rainfall is 45 to 55 percent in the eastern and Tarai districts of Province No 1, including Taplejung, Panchthar, Tehrathum, Ilam, Jhapa, Morang and Sunsari, the western parts of the Madhes Province including Parsa, Bara, Rautahat among other districts, and Kathmandu, Bhaktapur, Lalitpur, Nuwakot, Makawanpur, among other districts, the central and southern districts as Kaski, Syangja and Parbat of the Gandaki Province, most of the districts of Lumbini Province and Darchula, Baitadi, Dadeldhura, Doti, Kanchanpur and Kailali in the Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the possibility of less than average rainfall is 35 to 45 percent in rest of the parts of the country except in Bajhang and Bajura districts of Sudurpaschim Province, north-western part of Humla, Mugu and Dolpa in Karnali Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the maximum temperature is likely to be more than the average throughout the country this winter, meteorologist Kandel said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of the maximum temperature being more than the average is from 55 to 65 percent in the western parts of Humla and Mugu of Karnali Province and Bajura district of Sudurpaschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The chances of the maximum temperature being over the average temperature is 45 to 55 percent in Solukhumbu and Ilam, Jhapa, Morang and Sunsari of Province No 1, in Kavrepalanchok, Kathmandu, Lalitpur, Bhaktapur, Nuwakot, Makawanpur, Chitwan of Bagmati Province, Parsa and Saptari districts of Madhes Province, most of the districts of Gandaki Province except the north-eastern ones, most parts of Lumbini Province and the eastern and northern parts of Karnali Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The possibility of the maximum temperature becoming more than the average is 35 to 45 percent in the rest of the regions of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16261', 'image' => '20221213060159_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-12-13 18:01:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16519', 'article_category_id' => '270', 'title' => 'Narayangadh-Muglin Road to Be Closed for Four Hours Daily ', 'sub_title' => '', 'summary' => ' Vehicular movement along Narayangadh-Muglin road section will be closed to construct bridges for four hours daily. ', 'content' => '<p><span style="font-size:18px"> <br /> <br /> December 13: Vehicular movement along Narayangadh-Muglin road section will be closed to construct bridges for four hours daily. </span><br /> </p> <p><span style="font-size:18px">A meeting held at the District Administration Office (DAO) Chitwan chaired by CDO Ashman Tamang took the decision to close the transportation service along the road for a month starting from December 20. The road will be closed from 11:00 am to 3:00 pm. </span><br /> </p> <p><span style="font-size:18px">The vehicular movement will be shut down for the construction of bridges over Kalikhola, Simtal, Tuin Khola, and Chisenji khola.</span><br /> </p> <p><span style="font-size:18px">As per the decision, passenger buses, mini bus, micro buses, and small vehicles coming from Narayangadh will be stopped from 15 Kilo market to Jugedi. Heavy vehicles such as trucks, lorries, trailers, tippers and tankers will be stopped from Bhateri jungle to Ramnagar at 11: 00 am.</span></p> <p> </p> <p><span style="font-size:18px">Similarly, commuter buses coming from Kathmandu will be stopped from Muglin Bazar to Manakamana Cable Car gate, while passenger buses coming from Pokhara will be stopped from Benitar to Powerhouse at 10:55 am.<br /> Likewise, heavy vehicles coming from Kathmandu will be stopped at Lewatar, whereas heavy vehicles coming from Pokhara will be stopped at Aanbukahireni at 10:45 am. </span><br /> </p> <p><span style="font-size:18px">During the road closure, ambulances and firefighters, however, will be allowed to ply. <br /> Contractors assigned agreement to construct bridges will deploy adequate manpower and resources to expedite the construction work. Meanwhile, the road will be repaired in different places simultaneously along the same section. </span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16260', 'image' => '20221213052556_collage (9).jpg', 'article_date' => '2022-12-13 17:20:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '16518', 'article_category_id' => '231', 'title' => 'Asian Hydropower Limited Opens IPO for Project-Affected Locals and Migrant Workers ', 'sub_title' => '', 'summary' => 'Asian Hydropower Limited has opened sale of its Initial Public Offering(IPO) to the locals of project-affected Ilam district and Nepali citizens working in foreign countries from Tuesday. ', 'content' => '<p><span style="font-size:18px"> <br /> December 13: Asian Hydropower Limited has opened sale of its Initial Public Offering(IPO) to the locals of project-affected Ilam district and Nepali citizens working in foreign countries from Tuesday. </span></p> <p> </p> <p><span style="font-size:18px">In the first phase, the company has issued 3, 40,000 unit shares, worth Rs, 3,40,00000, which is 10 per cent of the total paid-up capital of 34, 0000000, for the project-affected locals of Ilam district. Locals can apply a minimum of 10 shares, while the maximum unit of shares they can purchase is 20,000 at a face value of Rs 100. The closing date of the IPO is December 27, 2022. If the IPO remains under-subscribed, the deadline to apply will be extended till January 11, 2023. </span></p> <p> </p> <p><span style="font-size:18px">Similarly, Nepalese working abroad can apply for a minimum of 10 unit shares, while the maximum number of shares they can apply is 20,000. The closing date of the IPO for them is December 27 and the deadline will not be extended even if the IPO is not fully subscribed allocated for them. Out of 24.71 per cent of shares which is 8,40000 unit shares worth Rs 8,40,00000 allocated for the general public, ten per cent, that is 84,000 units of shares worth Rs, 84,00000 have been reserved for migrant workers. </span><br /> </p> <p><span style="font-size:18px">After the completion of the first phase of the IPO allotment, shares will be issued to the general public.<br /> Asian Hydropower Limited has developed Lower Jogmai Khola Hydropower in Ilam district. The run-of-the river project has installed capacity of 6.2 megawatts.</span><br /> </p> <p><span style="font-size:18px">The project has been producing power for the last one year.<br /> Per megawatt cost for construction of the hydropower project stands at Rs 21.15 crores. </span><br /> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16259', 'image' => '20221213043526_collage (8).jpg', 'article_date' => '2022-12-13 16:28:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '16517', 'article_category_id' => '1', 'title' => 'IMF says Global Debt Well Above Pre-Pandemic Levels Despite Steep Drop in 2021', 'sub_title' => '', 'summary' => 'December 13: Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, Reuters reported citing the International Monetary Fund (IMF).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">December 13: Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, Reuters reported citing the International Monetary Fund (IMF). According to the news agency, the overall debt, however, remained well above pre-pandemic levels.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In a blog released with its inaugural Global Debt Monitor, the IMF said total public and private debt decreased by 10 percentage points to 247 percent of global gross domestic product (GDP) in 2021 from its peak of 257 percent in 2020. That compares to around 195 percent of GDP in 2007, before the global financial crisis, added Reuters.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">In dollar terms, global debt continued to rise, although at a much slower rate, reaching a record $235 trillion last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“Debt ratios are expected to drop further in most countries in 2022 given nominal GDP growth, but 2023 would usher in a much flatter profile given forecast economic declines in many economies and the rising costs of servicing debt,” Reuters quoted IMF fiscal affairs director Vitor Gaspar as saying.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The global lender said private debt, which includes non-financial corporate and household obligations, drove the overall reduction, decreasing by 6 percentage points to 153 percent of GDP in 2021, citing data for 190 countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The drop of 4 percentage points for public debt, to 96 percent of GDP, was the largest such drop in decades, it said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The unusually large swings in debt ratios - or "global debt rollercoaster" - were caused by the economic rebound from COVID-19 and the ensuring swift rise in inflation, the IMF said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Debt dynamics varied widely across country groups. Advanced economies saw the biggest drop in debt, with both public and private debt dropping 5 percent of GDP last year, followed by similar results in emerging markets, excluding China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">But low-income countries saw their total debt ratios continue to increase in 2021, driven by higher private debt, with total debt reaching 88 percent of GDP.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">There are growing concerns about the ability of low- and middle-income countries to repay their debts, with an estimated 25 percent of emerging market countries and over 60 percent of low-income countries either in or near debt distress.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">High inflation levels continued to help reduce debt ratios in 2022, but fiscal spending would likely increase if inflation becomes persistent, which could lead to higher premiums, IMF officials said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">They suggested that the governments should pursue fiscal policies that help reduced inflationary pressures now and debt vulnerabilities over the long term, while continuing to support the most vulnerable. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16258', 'image' => '20221213124024_20181227013520_debt-fiscalriskcartoon-384X265.jpg', 'article_date' => '2022-12-13 12:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16516', 'article_category_id' => '252', 'title' => 'Last Chance of World Cup Glory for Messi and Modric', 'sub_title' => '', 'summary' => 'December 13: Argentina and Lionel Messi face Croatia on Tuesday in a World Cup semi-final that pits South American flair against the guile of Luka Modric and a remarkable fighting spirit.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 13: Argentina and Lionel Messi face Croatia on Tuesday in a World Cup semi-final that pits South American flair against the guile of Luka Modric and a remarkable fighting spirit, AFP reported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Two iconic Ballon d'Or-winning number 10s. Two beaten World Cup finalists. Two captains. One last chance to finally reach the peak of football and lift the famous trophy before they retire,” BBC wrote on its website.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It is hard to look past Argentina's Lionel Messi and Croatia's Luka Modric as the two difference-makers in Tuesday's first World Cup semi-final, added the BBC.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">With Paris St-Germain's Messi now 35 and Real Madrid's Modric 37, it seems highly likely the final or third-place play-off this weekend will be where their World Cup careers end.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to AFP, Messi will attempt to guide Argentina into the final for the second time in eight years against the beaten finalists in 2018.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Messi, who suffered defeat to Germany in the 2014 final, is desperate to crown an extraordinary career by finally winning the World Cup and emulating another Argentinian legend, the late Diego Maradona.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Paris Saint-Germain forward was a pivotal figure in Friday's stormy quarter-final win over the Netherlands, when a record 18 yellow cards were shown and players from both sides were involved in a melee as the referee fought to regain control, the French news agency added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia are hoping Argentina's bad-tempered World Cup quarter-final qualification over the Netherlands with 16 yellow cards and one red will not spill over into Tuesday's semi-final, Reuters reported citing coach Zlatko Dalic. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia, who beat Japan and pre-tournament favourites Brazil in penalty shoot-outs to reach the last four, have not won a knockout game in normal time at a major tournament since they came third at the 1998 World Cup.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Despite doing it the hard way, the country of 3.9 million people surprised the football world by reaching the final four years ago, where France crushed their dreams with a 4-2 win.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Croatia, with Real Madrid playmaker Modric still the leader on the pitch at the age of 37, have again defied the odds to stand on the brink of a second successive final.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Coach Zlatko Dalic said he wanted Tuesday's match to be remembered as the "greatest game" in the country's history.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The match is scheduled for 12:45 am tonight (December 14).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16257', 'image' => '20221213122615_20221208010146_maxresdefault.jpg', 'article_date' => '2022-12-13 12:25:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16515', 'article_category_id' => '1', 'title' => 'More Invalid Votes under PR ', 'sub_title' => '', 'summary' => 'December 13: There were more invalid votes under the proportional representation (PR) than under the first-past-the-post (FPTP) system.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 13: There were more invalid votes under the proportional representation (PR) than under the first-past-the-post (FPTP) system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the total 11.04 million votes cast under the FPTP electoral system in the recently held elections to the House of Representatives and the provincial assemblies, 5.06 percent votes were invalid, according to the Election Commission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 5.09 percent votes under the PR system were invalid out of the total 11.02 million votes cast. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the EC said it would announce final name list of those picked under the PR on Tuesday (December 13). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16256', 'image' => '20221213113457_20211124020029_EC.jpg', 'article_date' => '2022-12-13 11:34:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16514', 'article_category_id' => '274', 'title' => 'Industrialists, Entrepreneurs from Syangja Submit 10-Point Memorandum to the Government ', 'sub_title' => '', 'summary' => ' Six organizations of industrialists and entrepreneurs from Syangja have submitted a 10-point demand to the Ministry of Finance and Nepal Rastra Bank. ', 'content' => '<p> </p> <p><span style="font-size:20px">December 13: Six organizations of industrialists and entrepreneurs from Syangja have submitted a 10-point demand to the Ministry of Finance and Nepal Rastra Bank. </span></p> <p> </p> <p><span style="font-size:20px">Industrialists and entrepreneurs have jointly submitted the memorandum to the Rastra Bank and Finance Ministry through Waling Area Administration Office, drawing a serious attention to Nepal Rastra Bank’s directives and current working capital guidelines-2079 BS. </span></p> <p> </p> <p><span style="font-size:20px">Waling Industry Association, Synagja District Federation of Nepalese Chamber of Commerce and Industry, Galyang Chapter of FNCCI, Bhirkot chapter of FNCCI and Chapakot chapter of FNCCI have submitted the memorandum. <br /> </span></p> <p><span style="font-size:20px">The memorandum states that liquidity crunch had led to the rise of interest rates, hitting businesses and enterprises hard. They have demanded that government and Rastra Bank slash the interest rates on lending at single digit. </span></p> <p> </p> <p><span style="font-size:20px">Entrepreneurs bemoaned that banks would have to cooperate during the crisis in economy. They have underlined the need to control the rising interest rate and make liquidity available. They have also demanded to keep spread rate within 3 per cent. </span><br /> </p> <p><span style="font-size:20px">Earlier, industrialists and entrepreneurs had staged a peaceful rally with slogans. Area Administration Office Waling Chief Ghanshayam Gautam said that he would send the memorandum to the concerned agencies at the earliest. </span></p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16255', 'image' => '20221213110012_collage (5).jpg', 'article_date' => '2022-12-13 10:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '16513', 'article_category_id' => '277', 'title' => 'Paddy Production Rises in Palpa', 'sub_title' => '', 'summary' => 'Compared to the last year, paddy production has increased in Palpa this year.', 'content' => '<p><br /> <br /> <span style="font-size:20px">December: Compared to the last year, paddy production has increased in Palpa this year. </span></p> <p> </p> <p><span style="font-size:20px">According to Agriculture Knowledge Center Palpa Chief Kamana Adhikari, Palpa produced 32,019 metric tons of paddy this year. Paddy was cultivated in 8,210 hectares of the land in the district.</span></p> <p> </p> <p><span style="font-size:20px">“Disease and insects attacked paddy at seed-bearing time. Despite this, their effect was less than expected”, added Adhikari.</span></p> <p> </p> <p><span style="font-size:20px">The district had produced 31,428 metric tons of the paddy cultivated in 8,206 hectares of the land. “Increasing use of modern technology, and use of improved seeds recommended by agriculture technicians have led to the rise od paddy production”, said Center’s Information Officer Milan Gaire.</span></p> <p> </p> <p><span style="font-size:20px">Farmers have been planting various species of paddy such as sabitri, hybrid, sanwa mansuli, US-312, shnati, khumal-3, among others, in the district. Local paddy types are hardly cultivated these days. Peasants and farmers cultivate improved seed to increase productivity. </span></p> <p> </p> <p><span style="font-size:20px">Adequate rainfall at the time of paddy plantation and construction of canals have encouraged farmers to plant paddy. Use of thresher machine and tractor has made paddy cultivation easy for famers, motivating them to plant the paddy even in the barren field of late. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-12-13', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16254', 'image' => '20221213100633_collage (4).jpg', 'article_date' => '2022-12-13 10:00:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '16511', 'article_category_id' => '273', 'title' => 'NewBiz Business Conclave & Awards: Shivam Cements Declared Best Managed Company', 'sub_title' => 'Awards distributed in 8 categories; Standard Chartered Bank Nepal named as “Best Managed Commercial Bank 2022”', 'summary' => 'December 12: Shivam Cements has been adjudged as the best managed company of 2022.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">December 12: Shivam Cements has been adjudged as the best managed company of 2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The publicly listed cement manufacturing company was honored with the title of the “Best Managed Company 2022” on Monday amid a grand ceremony during the 7</span></span><sup><span style="font-size:6.5pt"><span style="font-family:"Arial","sans-serif"">th</span></span></sup><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif""> Newbiz Business Conclave & Awards” organised by New Business Age Pvt Ltd.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The event, which features Asian Paints as the main sponsor, also felicitated seven companies as the best managed companies in their respective categories in addition to a lifetime achievement award to a business leader.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Standard Chartered Bank Nepal Ltd (SCBNL) received the award of the “Best Managed Commercial Bank 2022”. Standard Chartered Bank Nepal is the only international bank currently operating in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Towards development bank category, it was Shine Resunga Development Bank to bag the “Best</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Development Bank 2022” award.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">ICFC Finance Ltd won the award of the “Best Managed Finance Company”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, National Life Insurance Company Ltd received the honor of the “Best Managed Life Insurance Company” while Shikhar Insurance Company Ltd was named the “Best Managed Non-Life Insurance Company 2022”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">It was Chhimek Laghubitta Bittiya Sanstha Ltd which clinched the title of the “Best Managed Microfinance Company 2022”. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">According to the organizer, the companies and individuals honored during the event were selected by a jury after going through detailed research on each of the short-listed organizations and business leaders.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Each category had an independent jury which short-listed possible companies and individuals, and discussed various aspects among themselves and with outside experts and regulators before making the final selection, said the organizer.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">During the ceremony, New Business Age Ltd, the publisher of the monthly English magazine New Business Age and Aarthik Abhiyan National Daily, felicitated Himalaya Shumsher Rana with the “Lifetime Achievement in Business Award 2022”.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The jury said that he was honored with the award for his outstanding contribution to the field of business and entrepreneurship in Nepal through his pioneering, innovating and visional roles in various fields including central banking, private sector commercial banking, insurance and manufacturing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">New Business Age has been organizing Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">“They are being honoured for being our role models. We don't call them winners. Because they may be many more who deserve to be honoured. But we could not reach out to all of them because of our limited resources,” said Madan Lamsal, Chairman and Editor-in-chief of New Business Age group. “We hope they will do more in the future. We look forward to their higher achievements and investments in social good and corporate social responsibility in the years to come.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Prior to the award ceremony, a panel discussion on “Emerging Through the Crises” was organized where panelists comprising leaders from private sector, government and think tanks discussed resilience of Nepal’s business and economy to various crises including a decade long Maoists insurgency, earthquakes and trade blockades in 2015 and the recent Covid-19 pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">SAWTEE’s Chair Dr Posh Raj Pandey, FNCCI Vice President Chandra Dhakal, Nepal Rastra Bank’s Deputy Governor Dr Neelam Dhungana Timsina and Industry, Commerce and Supplies Secretary Dr Toya Gyawali were the panelists in the discussion moderated by Dr Kalpana Khanal, Senior Research Fellow at Policy Research Institute.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><u>LIST OF AWARD RECIPIENTS </u></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Company</strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Shivam Cement Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Commercial Bank </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Rastriya Banijya Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Siddhartha bank Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Standard Charter Bank Nepal Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Development Bank </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Lumbini Bikas Bank & Kamana Sewa Bikas Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Muktinath Bikas Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Shine Resunga Development Bank</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Finance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Goodwill FinanceCompany</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Guheswori Merchant Banking and Finance</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: ICFC Finance Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Microfinance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Deprosc Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Forward Community Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Chhimek Laghubitta Bittiya Sanstha Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Life Insurance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd: </sup>Life Insurance Corporation(Nepal) Ltd</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Nepal Life Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: National Life Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong>Best Managed Non-Life Insurance Company </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">3<sup>rd</sup>: Neco Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">2<sup>nd</sup>: Sagarmatha Insurance Company</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">1<sup>st</sup>: Sikhar Insurance Company</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16253', 'image' => '20221212080924_IMG-20221212-WA0026.jpg', 'article_date' => '2022-12-12 19:53:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16512', 'article_category_id' => '1', 'title' => 'Himalaya Shumsher Rana Honoured with Lifetime Achievement Award', 'sub_title' => '', 'summary' => 'December 12: Himalaya Shumsher Rana, a noted business leader, has been conferred with the “Lifetime Achievement in Business Leadership Award 2022” during the Seventh NewBiz Business Conclave and Awards on Monday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">December 12: Himalaya Shumsher Rana, a noted business leader, has been conferred with the “Lifetime Achievement in Business Leadership Award 2022” during the Seventh NewBiz Business Conclave and Awards on Monday.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rana was felicitated with the lifetime achievement business award for his outstanding contribution to the field of business and entrepreneurship in Nepal, according to the jury of the awards ceremony. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Rana, the founding governor of the country’s central bank Nepal Rastra Bank, is considered a source of inspiration to the entire business community for the zeal he showed even in the age of 65-75 years by initiating business ventures in different fields, and being still active in work even at the age of 96. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">“He commands the respect of the country's entire private sector as well as of the professionals and general people for his pioneering, innovating and visional roles in a number of fields such as central banking, private sector commercial banking, insurance and manufacturing,” reads the award citation. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '16252', 'image' => '20221212082110_IMG-20221212-WA0030.jpg', 'article_date' => '2022-12-12 19:54:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16509', 'article_category_id' => '274', 'title' => 'Not Economic Crisis, but a Challenge, says Finance Minister Sharma ', 'sub_title' => '', 'summary' => 'Minister for Finance Janardan Sharma has said that recent challenges Nepal’s economy has been facing including the slow economic growth and shortage of liquidity have resulted from the lack of implementation of economic and business policies introduced by the government.', 'content' => '<p><span style="font-size:16px">December 12: Minister for Finance Janardan Sharma has said that recent challenges Nepal’s economy has been facing including the slow economic growth and shortage of liquidity have resulted from the lack of implementation of economic and business policies introduced by the government.</span></p> <p><span style="font-size:16px">“Its about the lack of the institutional and legal capacity. If we address them, many of the challenges we are facing would be resolved,” said Finance Minister Sharma, addressing the “7th Newbiz Business Conclave and Awards” on Monday.</span></p> <p><span style="font-size:16px">He also took strong exception to characterizing Nepal’s economic challenges as ‘crisis’. “There were comments that Nepal was going down the line of crisis like in Sri Lanka. That was wrong. We cannot call it a crisis. There are challenges that can be treated,” he said.</span></p> <p><span style="font-size:16px">Minister Finance Sharma also opined that Nepal cannot do or produce everything. “We should focus on certain areas like hydropower and IT where we have our competitive advantages,” he added.</span></p> <p><span style="font-size:16px">Speaking at the event as keynote speaker, Dr Nagesh Kumar, Director of the Institute for Studies in Industrial Development, India, said that rising inequalities between and within the economies has emerged as one of the major challenges for the world. </span></p> <p><span style="font-size:16px">According to Dr Kumar, there is widening inequalities of income within countries due to failure of economic growth to ‘lift all the boats’. </span></p> <p><span style="font-size:16px">“Some data show that Nepal has managed very well in addressing the widening inequality. Its social protection system is very good. It has not yet faced a disturbing trend of rising inequality and the rest of the world can learn from Nepal,” he said. </span></p> <p><span style="font-size:16px">He also said that the recent Covid-19 pandemic has exposed gaps in public health infrastructure, social protection, provision of basic services, vaccination as well as in the global economy. </span></p> <p><span style="font-size:16px"> Also speaking at the event, Shekhar Golchha, President of the Federation Nepalese Chambers of Commerce and Industry (FNCCI), said that the private sector, which coped with numerous challenges including conflict, power outage, blockade and earthquakes, is now currently facing internal challenges including the liquidity shortage. </span></p> <p><span style="font-size:16px">“We have emerged from all those crises including the political turmoils that took a toll on the economy. But, we are confident we can also overcome the current internal challenge if we work together,” said FNCCI President Golchha. </span></p> <p><span style="font-size:16px">Vishnu Agarwal, President of the Confederation of Nepalese Industries (CNI), said that the contribution of the manufacturing sector to the GDP has been falling in the last two decades. </span></p> <p><span style="font-size:16px">“We have to focus on industrialization to increase employment opportunities, boost foreign exchange reserves and accelerate the economic growth of the country,” said CNI President Agarwal. “There are some initiatives introduced by the government to promote industrialization. However, there is no satisfactory progress in the implementation of those measures.” </span></p> <p><span style="font-size:16px">Asian Paints is the main sponsor of the programme while Gods of Furniture, Metlife Insurance, Rastriya Banijya Bank, Nexus Evi, NLG Insurance, Dish Home, Fiber Net, Nepali Patro, President Travels and Tours, have supported the event. </span></p> <p><span style="font-size:16px">New Business Age has been organizing the Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '16250', 'image' => '20221212071227_Finance Minister.jpg', 'article_date' => '2022-12-12 19:09:07', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 14 => array( 'Article' => array( 'id' => '16508', 'article_category_id' => '1', 'title' => 'Govt Urged to Prioritise Investment Attraction as Country Emerges through Crises ', 'sub_title' => 'Private sector leaders, government officials and economists discuss ways to navigate economic and business challenges in the country', 'summary' => 'December 12: Economists and policymakers have underlined the need to utilize the recent challenges to overhaul the country’s legal and regulatory systems to ease the process of doing business and prevent the economy from plunging into crisis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">December 12: Economists and policymakers have underlined the need to utilize the recent challenges to overhaul the country’s legal and regulatory systems to ease the process of doing business and prevent the economy from plunging into crisis.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a panel discussion “Emerging Through Crises” during the “7th Newbiz Business Conclave and Awards” on Monday, economists, authorities and private sector leaders said that the priority should be on attracting investment as the country emerges through various crises including the Covid-19 pandemic most recently. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“All ministries of the government are working to increase the competitiveness for doing business and to attract private investments in collaboration with the private sector,” said Dr Toya Gyawali, Secretary at the Ministry of Industry and Supplies. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking also at the panel discussion, Dr Neelam Dhungana Timsina, Deputy Governor at Nepal Rastra Bank, said that the central bank’s recent decision to raise policy rates and introduce expansionary monetary policy was aimed at addressing the rising inflation and ease the pressure on the external sector stability of the country. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The central bank and the government took expansionary fiscal and monetary policies to stop further deterioration or help revive the economy during the pandemic. These expansionary policies have worked in reviving the businesses shut or hit by the country then,” she said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">She defended the central bank’s move that has prompted the private sector to go into the street. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Now, we see a need to check the high growth in credit expansion fuelled by the expansionary monetary policy. At the same time, there were some external factors including the war in Ukraine that drove the prices in the market,” she added. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chandra Dhakal, Vice President of the Federation of Nepalese Chambers of Commerce and Industry(FNCCI), said that businesses and the private sector have helped the government through taxes even during crises like insurgency, earthquakes in 2015. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Even during the crises, troubled time or transition periods, the private sector opened industries and businesses, created jobs and paid taxes to the state even when we were told not to do so by the court,” said FNCCI Senior Vice President Dhakal. “Now, it's the time the government should support or encourage the private sector,” he added. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Amid concerns that Nepal’s graduation from the least developed country (LDC) status could have economic repercussions, Dr Posh Raj Pandey, Chair of SAWTEE, said that the LDCs graduation would not have a significant impact on the macroeconomic situation of the country. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“The graduation status does mean that it would automatically solve the development challenges that we have been long facing. It would neither take us to a situation full of challenges,” he said. “We need a transition strategy that can maintain the development trajectory.” </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The panel discussion organized during the Seventh Edition of NewBiz Business Conclave and Awards also dwelt on the role of MSMEs and startups in diversifying domestic production, policies to support ICT and hydro-electricity sectors and the role of private sector in digitization and technological transformation, among others. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The panel discussion was moderated by Dr. Kalpana Khanal, Sr. Research Fellow at Policy Research Institute. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Asian Paints is the major sponsor of the programme while Gods of Furniture, Metlife Insurance, Rastriya Banijya Bank, Nexus EV, NLG Insurance, Dish Home Fiber Net, Nepali Patro, President Travels and Tours, have supported the event. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">New Business Age has been organizing Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.</span></span></span></p> <p><br /> <br /> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2022-12-12', 'modified' => '2022-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '16249', 'image' => '20221212055511_IMG-20221212-WA0009.jpg', 'article_date' => '2022-12-12 17:53:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
