November 30: Marcus Rashford inspired England to a 3-0 victory over Wales on Tuesday as the Three Lions topped Group B and also ended a bitterly disappointing World Cup campaign of…
November 30: Marcus Rashford inspired England to a 3-0 victory over Wales on Tuesday as the Three Lions topped Group B and also ended a bitterly disappointing World Cup campaign of…
Nov 29: Nepal Investment Bank Limited (NIBL) and Mega Bank have signed a final draft of Memorandum of Understanding (MoU) for a merger.…
November 29: Nepal Rastra Bank (NRB) has reduced the limit on issuing dividends by microfinance…
November 29: Nepal Electricity Authority (NEA) is preparing to expand the network of transmission lines with the objective of increasing consumption of electricity in Madhes Province to 4,000 Megawatts…
November 29: The Election Commission (EC) has reminded political parties and poll candidates participating in the general elections on November 20 to submit details of their election expenditures within 35 days of the announcement of the poll…
November 29: Apples worth Rs 500 million have been exported from Mustang this…
November 29: The Nepal Chamber of Commerce (NCC) has noted that the recent arrangement made by the Nepal Rastra Bank (NRB) through the quarterly review of the monetary policy could not keep fiscal stability in the…
November 29: Brazil’s ‘invisible man’ Casemiro scored a stunning winner as the five-time champions edged past Switzerland to reach the World Cup knockout stage on…
November 29: A second-half brace from Bruno Fernandes fired Portugal into the last 16 of the World Cup on Monday as they outclassed Uruguay 2-0 in a scrappy encounter at Lusail…
November 28: The Millennium Challenge Account (MCA) Nepal has issued a specific procurement notice in regard with the construction of electricity transmission…
November 28: Businessmen have accused commercial banks of charging high interest rates under the pretext of lack of investable…
November 28: A late goal by substitute Niclas Fuellkrug allowed Germany to snatch a 1-1 draw with Spain on Sunday as the four-time winners kept their World Cup hopes alive, but Belgium are in danger of a group-stage exit after losing to…
November 28: Private sector stakeholders have urged the central bank not to implement the Working Capital Loan Guidelines 2079 at once but to implement it in a phase-wise manner.…
November 28: Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions, Reuters…
November 28: More than 60 former members of parliament (MPs) who contested the November 20 election have faced defeats.…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nov 29: Nepal Investment Bank Limited (NIBL) and Mega Bank have signed a final draft of Memorandum of Understanding (MoU) for a merger. A meeting of the Board of Directors of both the banks have endorsed the document and exchanged it, paving the way for merging the institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the deadline set by the Nepal Rastra Bank (NRB), the banks can go for merger till January 6, 2023 to receive benefits announced by the central bank. </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 merger committee member Gopal Khanal, who is also a member of the Board of Directors of Mega Bank, they plan to merge and launch integrated transactions within the deadline given by the central bank. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The banks signed a preliminary merger agreement with a swap ratio of 100: 90 on June 10. One unit of share of the NIBL will be equivalent to 0.90 of Mega Bank. NIBL’s paid-up capital is Rs18.31 billion while that of Mega Bank is Rs16.2 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Following the merger, the new entity is to be named Nepal Investment Mega Bank and Prithvi Bahadur Pande will be its chair and Jyoti Pandey the Chief Executive Officer. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16154', 'image' => '20221129052420_20220713054958_merger.jpg', 'article_date' => '2022-11-29 17:23:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16412', 'article_category_id' => '1', 'title' => 'Central Bank Reduces Limit on Dividends to Be Issued by Microfinance Companies', 'sub_title' => '', 'summary' => 'November 29: Nepal Rastra Bank (NRB) has reduced the limit on issuing dividends by microfinance companies.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 29: Nepal Rastra Bank (NRB) has reduced the limit on issuing dividends by microfinance companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Issuing the Unified Directives on Monday, the central bank has made arrangements for microfinance companies to issue dividends up to 30 percent of the paid-up capital</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">If the microfinance companies are to distribute dividends of more than 20 percent, the NRB has instructed those companies to maintain at least 50 percent of the dividend amount in their reserve funds.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The dividend could be both cash or bonus shares.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the central bank had issued a directive allowing microfinance companies to distribute cash dividends of only up to 30 percent of their net distributable profits citing Covid-19 crisis.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The microfinance companies were permitted to distribute cash dividends not exceeding the weighted interest rates on their deposits.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the same directive, microfinance companies were not allowed to issue cash dividends if the net distributable profit is less than 5 percent of the paid-up capital.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The central bank took such measures after the microfinance companies, whose primary objective is to serve the poor and marginalized people, were criticized for making excessive profit.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16153', 'image' => '20221129032953_dividend.jpg', 'article_date' => '2022-11-29 15:28:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16411', 'article_category_id' => '1', 'title' => 'NEA to Expand Transmission Lines in Madhes Province to Increase Electricity Consumption', 'sub_title' => '', 'summary' => 'November 29: Nepal Electricity Authority (NEA) is preparing to expand the network of transmission lines with the objective of increasing consumption of electricity in Madhes Province to 4,000 Megawatts (MW).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 29: Nepal Electricity Authority (NEA) is preparing to expand the network of transmission lines with the objective of increasing consumption of electricity in Madhes Province to 4,000 Megawatts (MW).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The state-owned power utility aims to increase electricity consumption in human settlements and industrial corridors in southern belts of the Terai including Bara, Parsa, Rautahat, Mahottari and Dhanusha. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">For this purpose, the NEA is planning to construct four high-powered transmission lines and sub stations along the Postal Highway by 2050.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As per the plan, the NEA will construct four-circuit transmission lines and substations alongside the Postal Highway that lies near the Nepal-India border. While two upper circuit lines will be of 400 kV, the other two on the lower level will have a capacity of 132 kV. Substations will be built to maintain smooth electricity supply in local areas.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to NEA’s Managing Director Kulman Ghising, 3,200 MW electricity will be supplied to Bara-Parsa Industrial Corridor of Birgunj and the remaining 800 MW will be made available in the Janakpur area. This will help in urban development as well as industrial development, added Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It will also ensure supply of good quality of electricity, according to Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The construction of transmission lines and substations will cost over Rs 50 billion. According to Ghising, the funds will be managed from state coffers as well as investment of NEA, loans from EXIM Bank of India and concessional loans from the Asian Development Bank. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In this regard, a team of high-ranking officials of NEA led by Managing Director Ghising along with the donor agencies carried out an onsite visit of the proposed construction sites on Saturday and Sunday, according to the NEA. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ghising said that the NEA is making a phase-wise plan to increase domestic consumption of electricity first and then to export surplus electricity.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16152', 'image' => '20221129014012_electricity.jpg', 'article_date' => '2022-11-29 13:39:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16410', 'article_category_id' => '1', 'title' => 'EC Directs Candidates to Submit Election Expenditures within 35 Days ', 'sub_title' => '', 'summary' => 'November 29: The Election Commission (EC) has reminded political parties and poll candidates participating in the general elections on November 20 to submit details of their election expenditures within 35 days of the announcement of the poll results.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Election Commission (EC) has reminded political parties and poll candidates participating in the general elections on November 20 to submit details of their election expenditures within 35 days of the announcement of the poll results. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The details of election expenditures under the first-past-the-post system should be submitted to the respective province and the district election office in line with the Member of the House of Representatives and the Province Assembly Election Directives, 2079. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The candidates should mention details of their bank accounts and the responsible persons who have been tasked with looking after the election expenditures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, under the proportional representation system, details of the election expenditures should be submitted within 35 days of the completion of the voting as per the Member of the House of Representatives Proportional Election Directives, 2079 (34), and the Member of the Province Assembly Proportional Election Directives, 2079 (36). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16151', 'image' => '20221129125836_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-29 12:57:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16409', 'article_category_id' => '1', 'title' => 'Mustang District Exports Apples worth Rs 500 Million ', 'sub_title' => '', 'summary' => 'November 29: Apples worth Rs 500 million have been exported from Mustang this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Apples worth Rs 500 million have been exported from Mustang this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seventy percent of the apples produced in Mustang have been supplied outside the district, according to the district-based agriculture knowledge centre. The export amounted to 4,620 metric tons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The apples produced in the district are sold at Rs 100 per kg in September and at Rs 120-130 per kg in November. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the farmers said the apples were sold at Rs 110 per kg in an average. Chief of the agriculture knowledge centre in Mustang, Prakash Bastakoti, informed that the production of apple increased by 18.56 percent this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The production has increased due to favourable climate and new plants," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The apples were planted in 580 hectares of land in Mustang. The farming is done in all five local levels of Mustang. A recent survey had revealed that 11.37 metric tons of apples are produced in a hectare of land, Bastakoti added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Agriculture officer for PM Agriculture Modernization Project, Netra Bhatta, said nearly 70 metric tons of apples are kept in six cold stores for off-season sale. In March-April, the apple will fetch better price. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Apples are produced in areas with an altitude of 2,500 meter above the sea level. The cold weather with snow adds quality and taste to the apple. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourists visiting Mustang buy apples as gift. There are also six liquor factories which produce liquor by processing apples. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16150', 'image' => '20221129115521_SushilbabuThakali_Mustang_RSS_10(2).jpg', 'article_date' => '2022-11-29 11:54:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16408', 'article_category_id' => '1', 'title' => 'NRB Quarterly Review of Monetary Policy Unlikely to Keep Fiscal Stability: NCC', 'sub_title' => '', 'summary' => 'November 29: The Nepal Chamber of Commerce (NCC) has noted that the recent arrangement made by the Nepal Rastra Bank (NRB) through the quarterly review of the monetary policy could not keep fiscal stability in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Nepal Chamber of Commerce (NCC) has noted that the recent arrangement made by the Nepal Rastra Bank (NRB) through the quarterly review of the monetary policy could not keep fiscal stability in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC has drawn a conclusion that the quarterly review along with the squeezed monetary policy could not address the problems faced by the financial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The chamber was hopeful that the quarterly review of the monetary policy could possibly address the domestic economic risks," reads a statement issued by the chamber. "Though the country witnessed some improvements in external sector there are risks in internal economic sector," the statement added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC claimed that the central bank's latest measure would not help boost the economic dynamics in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the spread rate reduction by 0.4 percent would limit rise in interest rate in coming days, it has nominal chance to slash the existing interest rates, the chamber further commented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC has urged the central bank to keep premium on base rate maximum at two percent for the banks and financial institutions (BFIs) to release loans. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC also noted that the central bank’s review of the monetary policy would further negatively affect the industrial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The chamber has cautioned the central bank with seven-point memorandum. It has also asked the central bank to reduce the existing 8.5 percent bank rate to five percent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => 'NCC, NRB, central bank, monetary, policy, review, financial, crisis, Nepal, external, sector', 'description' => '', 'sortorder' => '16149', 'image' => '20221129111533_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-11-29 11:14:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16407', 'article_category_id' => '1', 'title' => 'Casemiro Magic Sends Brazil into Knockout Stage', 'sub_title' => '', 'summary' => 'November 29: Brazil’s ‘invisible man’ Casemiro scored a stunning winner as the five-time champions edged past Switzerland to reach the World Cup knockout stage on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: Brazil’s ‘invisible man’ Casemiro scored a stunning winner as the five-time champions edged past Switzerland to reach the World Cup knockout stage on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Manchester United midfielder brought the match to life seven minutes from time in an otherwise drab encounter as he fired a first-time effort into the far corner, leaving Swiss goalkeeper Tann Sommer standing</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With this victory, Brazil leads the group with maximum points and will be guaranteed the top spot with just a draw against Cameroon in their final group-stage game.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, he was described before the match as Brazil's key "invisible man" but by full-time Casemiro was being lauded as the "best midfielder in the world".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Brazil's World Cup match against Switzerland looked to be heading for a dour, goalless draw but the Manchester United player had other ideas. With seven minutes remaining and some fans heading for the exits, Casemiro fired an unstoppable, angled drive into the far corner of the net to leave the remaining supporters roaring in delight and fire his side into the last 16 with a game to spare,” BBC reported.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16148', 'image' => '20221129104821_20221129_afp_brazilswiss.jpg', 'article_date' => '2022-11-29 10:47:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16406', 'article_category_id' => '1', 'title' => 'Fernandes Double Fires Portugal into World Cup Last 16', 'sub_title' => '', 'summary' => 'November 29: A second-half brace from Bruno Fernandes fired Portugal into the last 16 of the World Cup on Monday as they outclassed Uruguay 2-0 in a scrappy encounter at Lusail Stadium.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: A second-half brace from Bruno Fernandes fired Portugal into the last 16 of the World Cup on Monday as they outclassed Uruguay 2-0 in a "scrappy encounter" at Lusail Stadium.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, Portugal reached the knockout stage to join France and Brazil with a match to spare.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">For a Portugal whose World Cup narrative has so far been crafted by the controversy and brilliance of Cristiano Ronaldo, the night belonged to Fernandes, who shone throughout and always looked threatening, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">His first goal set the tone of how the match would play out, with a 55th minute cross intended for Ronaldo that sailed fortuitously into the net, before a perfectly executed spot kick in stoppage time that guaranteed his side's passage to the knockout stage, the news agency added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Ronaldo had celebrated the first goal ecstatically as his own and smiled awkwardly as it was announced as belonging to Fernandes, who twice came close to completing a hat-trick in the dying moments.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, it was the moment Cristiano Ronaldo thought he had joined Eusebio as Portugal's World Cup record goalscorer - well, for a couple of minutes anyway.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Portuguese forward's jubilant celebrations convinced everyone his head had got the last touch to Bruno Fernandes' cross for the crucial opener in his country's 2-0 win over Uruguay, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Not only was it a goal that sent Portugal on their way to qualification for the knockout stages with a game to spare, it was also going to be his ninth World Cup strike - bringing him level with the great Eusebio. But then came the uncertainty. While Ronaldo was clearly convinced it was his goal, the replays were not so conclusive.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => 'Portugal, Bruno, Fernandez, Ronaldo. Cristiano, Uruguay, World Cup, Brazil, France, knockout, stage, last-16', 'description' => '', 'sortorder' => '16147', 'image' => '20221129103254_skysports-portugal-uruguay_5980922.jpg', 'article_date' => '2022-11-29 10:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16405', 'article_category_id' => '1', 'title' => 'MCC Issues Public Notice for Construction of Transmission Lines ', 'sub_title' => '', 'summary' => 'November 28: The Millennium Challenge Account (MCA) Nepal has issued a specific procurement notice in regard with the construction of electricity transmission lines. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The Millennium Challenge Account (MCA) Nepal has issued a specific procurement notice in regard with the construction of electricity transmission lines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has invited sealed bids from all interested and eligible bidders for design, supply, delivery, installation, testing and commissioning of the transmission lines. The project covers Lapsiphedi-Ratmate-New Hetauda 400kV D/C transmission line, Ratmate-New Damauli 400kV D/C transmission line, New Damauli-New Butwal 400kV D/C transmission line and New Butwal-Nepal/India Border 400kV D/C transmission line, according to the notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that bidding will be conducted through the Quality and Price Based Selection (QPBS) procedures as specified in the MCC Program Procurement Guidelines (PPG), and is open to all eligible bidders or consultants as defined in the PPG. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A complete set of bidding documents may be obtained by interested bidders upon the submission of a written application at the following email address MCANepalPA@dt-global.com with cc to MCANepalPA@mcanp.org. The deadline for submitting the sealed documents is March 27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All bids shall be accompanied by a bid security amount of US$ 700,000 for Lot 1, US$ 550,000 for Lot 2 and US$ 675,000 for Lot 3 and if issued by a bank located outside of Nepal, must be confirmed (counter bank guarantee to be issued) by a correspondent financial institution located in Nepal and shall be valid until December 20, 2023, reads the notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the Government of Nepal and the United States of America-based Millennium Challenge Corporation (MCC) entered into a Millennium Challenge Compact on September 14, 2017, under which the US government pledged to provide a grant of up to US$ 500 million to expedite the economic growth and reduce poverty in Nepal to which the Government of Nepal will contribute up to US$ 130 million. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16146', 'image' => '20221128062840_20220228112208_MCC.jpg', 'article_date' => '2022-11-28 18:28:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16404', 'article_category_id' => '1', 'title' => 'Banks Charging High Interest Citing Liquidity Crisis', 'sub_title' => '', 'summary' => 'November 28: Businessmen have accused commercial banks of charging high interest rates under the pretext of lack of investable funds.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">November 28: Businessmen have accused commercial banks of charging high interest rates under the pretext of lack of investable funds. Subodh Kumar Gupta, president of Birgunj Chamber of Commerce and Industry, said that although the base rate and premium rate applicable for the loan were specified when the loan agreement was signed between the bank and the borrower, the banks are now increasing those rates arbitrarily on the pretext of lack of liquidity.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Entrepreneurs claim that the regulatory body, Nepal Rastra Bank, has become a mere spectator towards the malpractice of the banks. According to Anil Agarwal, senior vice president of the chamber, even though NRB has instructed the banks to refund the amount charged by the banks due to the increased premiums, most of the banks have not complied with the NRB instruction.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">He said that the NRB has not taken any effective action on such banks. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Agarwal stated, “The base rate of banks is reviewed every three months. The premium rate remains the same for the duration of the contract. Banks have increased the premium in an unfair manner.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Traders say that the ultimate burden of such move of the banks fall upon the consumers. Officials of NRB said that even with the borrowers’ consent, the premium cannot be increased throughout the contract period, but it has not been followed by the banks. NRB has instructed banks to return any additional sum acquired in such manner. The businessman says that NRB seems reluctant to take action against the banks for not following its instructions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to Madhav Rajpal, vice president of the association, the banks increased the premium rate by 3 to 4 percentage points by putting undue pressure on the borrowers. He informed that the base rate on the new loan has also been increased by the same amount.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The importers too complained that service charges, loan renewal charges as well as LC charges have been increased arbitrarily, holding lack of liquidity responsible.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Rajpal also informed that the chamber has written a letter to NRB about such malpractice of the banks. Businessmen say that the interest rate on loans taken in the past at 7/8 percent has now been increased to 16/17 percent. As a result, the competitiveness of business and production has decreased.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16145', 'image' => '20221128050135_20221116011323_Banks - Copy.jpg', 'article_date' => '2022-11-28 17:01:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16403', 'article_category_id' => '1', 'title' => 'Germany Keep World Cup Hopes Alive as Morocco Stun Belgium', 'sub_title' => '', 'summary' => 'November 28: A late goal by substitute Niclas Fuellkrug allowed Germany to snatch a 1-1 draw with Spain on Sunday as the four-time winners kept their World Cup hopes alive, but Belgium are in danger of a group-stage exit after losing to Morocco.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 28: A late goal by substitute Niclas Fuellkrug allowed Germany to snatch a 1-1 draw with Spain on Sunday as the four-time winners kept their World Cup hopes alive, but Belgium are in danger of a group-stage exit after losing to Morocco.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Elsewhere, 2018 runners-up Croatia crushed Canada 4-1 to eliminate their opponents while Costa Rica claimed a shock win over Japan.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Keysher Fuller's 81st-minute goal for Costa Rica at Doha's Ahmad Bin Ali Stadium in Sunday's early game eased some of the pressure on the Germans as it prevented Japan from taking a giant stride towards the last 16.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Hansi Flick's German side nevertheless desperately needed something from their meeting with 2010 winners Spain at Al Bayt Stadium in Al Khor, north of Doha, after losing 2-1 to Japan in their Group E opener.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yet they were in big trouble when substitute Alvaro Morata turned in Jordi Alba's cross to put Spain ahead just after the hour mark.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">However Germany, who had an Antonio Ruediger goal disallowed for offside in the first half, had a substitute of their own to thank as Werder Bremen striker Fuellkrug lashed in an 83rd-minute leveller on just his third international appearance. (AFP/RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16144', 'image' => '20221128043752_germany-spain-1024x569.jpg', 'article_date' => '2022-11-28 16:37:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16402', 'article_category_id' => '1', 'title' => 'Business Community Urges NRB to Review Working Capital Loan Guidelines', 'sub_title' => '', 'summary' => 'November 28: Private sector stakeholders have urged the central bank not to implement the Working Capital Loan Guidelines 2079 at once but to implement it in a phase-wise manner. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">November 28: Private sector stakeholders have urged the central bank not to implement the Working Capital Loan Guidelines 2079 at once but to implement it in a phase-wise manner. The guidelines have already come into effect since the last two months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) submitted a written memo to Nepal Rastra Bank (NRB) requesting it to implement the guidelines in a phase-wise manner. The central bank officials had earlier said that they would review the guidelines after the November 20 elections to the House of Representatives and provincial assemblies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan to 20 in case of a company whose annual transaction is less than Rs 20 million. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The businessmen, however, have urged the central bank to provide 40 percent loan for a company with annual transaction of Rs 20 million and 50 percent loan for transaction above that threshold. Also, they have urged the NRB to avail term loans for up to 180 days instead of 90 days. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16143', 'image' => '20221128020539_Working-Capital-Loan.jpg', 'article_date' => '2022-11-28 14:05:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16401', 'article_category_id' => '1', 'title' => 'Gold Price Dips in Int’l Market as Dollar Gains on China COVID Risks', 'sub_title' => 'Gold Price Remains as High as Rs 97.500 Per 11 Grams in Nepal', 'summary' => 'November 28: Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions, Reuters reported.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 28: Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, spot gold was down 0.4 percent at US$1,748.84 per ounce, as of 0555 GMT. US gold futures fell 0.3 percent to US$1,749.60.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The dollar index was up 0.4 percent, making the greenback-priced bullion more expensive for buyers holding other currencies, added Reuters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Gold prices have been tracking the US dollar's moves closely, and increased uncertainty from the growing unrest in China seems to be underpinning the dollar this morning," Reuters quoted IG market strategist Yeap Jun Rong as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, hundreds of demonstrators and police clashed in Shanghai on Sunday night as protests over China's stringent COVID restrictions flared for a third day and spread to several cities in the wake of a deadly fire in the country's far west.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People may be shifting to defensive assets considering the COVID situation in China, but the dollar's gains are currently overshadowing gold's safe-haven status, Yeap added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the price of gold remained as high as Rs 97,500 per tola (11.6 grams approx.) in Nepal, according to the latest update posted on the website of the Federation of Nepal Gold and Silver Dealers Association on Monday. </span></span></p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16142', 'image' => '20221128012712_gold.jpg', 'article_date' => '2022-11-28 13:26:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16400', 'article_category_id' => '1', 'title' => 'Over 60 Former MPs defeated in Election ', 'sub_title' => '', 'summary' => 'November 28: More than 60 former members of parliament (MPs) who contested the November 20 election have faced defeats. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: More than 60 former members of parliament (MPs) who contested the November 20 election have faced defeats. Those defeated also include party chair, vice-chair, general secretary, former chief minister of the province and other top leaders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the election, former prime minister and senior leader of CPN (Unified Socialist) Jhala Nath Khanal, Chairman of Janata Samajwadi Party Nepal Upendra Yadav, senior leader of Loktantrik Samajwadi Party Rajendra Mahato, CPN (UML) senior-vice chairman Ishwar Pokharel, vice-chairman Surendra Pandey, general secretary Shanker Pokharel, assistant general secretary Pradip Kumar Gyawali were defeated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, general secretary of CPN (Maoist Centre) Dev Prasad Gurung, assistant general secretary duo Giriraj Mani Pokharel and Pampha Bhusal also faced defeat while former chief minister of Province 1 and UML leader Sher Dhan Rai is also among the leaders staying out of the legislative body. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former speaker of the House of Representatives Onsari Gharti, former deputy speaker Pushpa Bhsual, vice-chairperson of Rastriya Janamorcha Durga Poudel, Home Minister Bal Krishna Khand, NC assistant general secretary Uma Kanta Chaudhary and other leaders also could not make it to the HoR. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The other former MPs who lost the election include Matrika Prasad Yadav, Mohammad Istiyak Rai, Yagya Raj Sunuwar, Rajendra Prasad Gautam, Rajendra Prasad Shrestha, Ram Kumari Jhankri, Hridayesh Tripathi and Rambir Manandhar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, this election remained a tough nut to crack for the politicians like Laxman Lal Karn, Lal Babu Pandit, Sujata Koirala, Lekhraj Bhatta, Bijaya Kumar Gachchhadar, Bina Magar, Birodh Khatiwada, Som Prasad Pandey, Sher Bahadur Tamang, Bijaya Subba, Bishal Bhattarai, Surya Prasad Pathak, Komal Oli, Kamal Thapa, Jeevan Ram Shrestha, Maheshwar Jung Gahatraj, Krishna Sitaula and Umesh Shrestha. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16141', 'image' => '20221128010311_JNK (Copy).jpg', 'article_date' => '2022-11-28 13:01:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16415', 'article_category_id' => '1', 'title' => 'Rashford Inspires England to a 3-0 Victory over Wales', 'sub_title' => 'Group B Winners England Next Face Senegal on Sunday', 'summary' => 'November 30: Marcus Rashford inspired England to a 3-0 victory over Wales on Tuesday as the Three Lions topped Group B and also ended a bitterly disappointing World Cup campaign of Wales.', 'content' => '<p><span style="font-size:18px">AGENCIES</span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 30: Marcus Rashford inspired England to a 3-0 victory over Wales on Tuesday as the Three Lions topped Group B and also ended a bitterly disappointing World Cup campaign of Wales.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, Wales could also have reached the last 16 with a victory if the match between Iran and the United States ended level, but any hope of that scenario unfolding evaporated rapidly once Rashford smashed home a curling free kick five minutes after the break following a foul on Phil Foden by Ethan Ampadu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A minute later, Foden made it 2-0 as Wales carelessly lost possession and Harry Kane crossed low for the Manchester City player to convert from close range, added the news agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rashford then made it 3-0 with a surging run in from the right before shooting through a crowd and past Danny Ward's legs in the 68th minute.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, England top Group B with seven points, two points ahead of the United States who set up a last-16 meeting with the Netherlands by beating Iran 1-0 in their grudge match, while Wales finished bottom of the table with a point.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">England next face Group A runners-up Senegal on Sunday.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-30', 'modified' => '2022-11-30', 'keywords' => '', 'description' => '', 'sortorder' => '16155', 'image' => '20221130111344_Declan-Rice-Marcus-Rashford-John-Stones-England-celebrate.jpg', 'article_date' => '2022-11-30 11:12:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16413', 'article_category_id' => '1', 'title' => 'NIBL, Mega Endorse Final Agreement for Merger ', 'sub_title' => '', 'summary' => 'Nov 29: Nepal Investment Bank Limited (NIBL) and Mega Bank have signed a final draft of Memorandum of Understanding (MoU) for a merger. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nov 29: Nepal Investment Bank Limited (NIBL) and Mega Bank have signed a final draft of Memorandum of Understanding (MoU) for a merger. A meeting of the Board of Directors of both the banks have endorsed the document and exchanged it, paving the way for merging the institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the deadline set by the Nepal Rastra Bank (NRB), the banks can go for merger till January 6, 2023 to receive benefits announced by the central bank. </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 merger committee member Gopal Khanal, who is also a member of the Board of Directors of Mega Bank, they plan to merge and launch integrated transactions within the deadline given by the central bank. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The banks signed a preliminary merger agreement with a swap ratio of 100: 90 on June 10. One unit of share of the NIBL will be equivalent to 0.90 of Mega Bank. NIBL’s paid-up capital is Rs18.31 billion while that of Mega Bank is Rs16.2 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Following the merger, the new entity is to be named Nepal Investment Mega Bank and Prithvi Bahadur Pande will be its chair and Jyoti Pandey the Chief Executive Officer. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16154', 'image' => '20221129052420_20220713054958_merger.jpg', 'article_date' => '2022-11-29 17:23:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16412', 'article_category_id' => '1', 'title' => 'Central Bank Reduces Limit on Dividends to Be Issued by Microfinance Companies', 'sub_title' => '', 'summary' => 'November 29: Nepal Rastra Bank (NRB) has reduced the limit on issuing dividends by microfinance companies.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 29: Nepal Rastra Bank (NRB) has reduced the limit on issuing dividends by microfinance companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Issuing the Unified Directives on Monday, the central bank has made arrangements for microfinance companies to issue dividends up to 30 percent of the paid-up capital</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">If the microfinance companies are to distribute dividends of more than 20 percent, the NRB has instructed those companies to maintain at least 50 percent of the dividend amount in their reserve funds.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The dividend could be both cash or bonus shares.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the central bank had issued a directive allowing microfinance companies to distribute cash dividends of only up to 30 percent of their net distributable profits citing Covid-19 crisis.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The microfinance companies were permitted to distribute cash dividends not exceeding the weighted interest rates on their deposits.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the same directive, microfinance companies were not allowed to issue cash dividends if the net distributable profit is less than 5 percent of the paid-up capital.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The central bank took such measures after the microfinance companies, whose primary objective is to serve the poor and marginalized people, were criticized for making excessive profit.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16153', 'image' => '20221129032953_dividend.jpg', 'article_date' => '2022-11-29 15:28:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16411', 'article_category_id' => '1', 'title' => 'NEA to Expand Transmission Lines in Madhes Province to Increase Electricity Consumption', 'sub_title' => '', 'summary' => 'November 29: Nepal Electricity Authority (NEA) is preparing to expand the network of transmission lines with the objective of increasing consumption of electricity in Madhes Province to 4,000 Megawatts (MW).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 29: Nepal Electricity Authority (NEA) is preparing to expand the network of transmission lines with the objective of increasing consumption of electricity in Madhes Province to 4,000 Megawatts (MW).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The state-owned power utility aims to increase electricity consumption in human settlements and industrial corridors in southern belts of the Terai including Bara, Parsa, Rautahat, Mahottari and Dhanusha. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">For this purpose, the NEA is planning to construct four high-powered transmission lines and sub stations along the Postal Highway by 2050.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As per the plan, the NEA will construct four-circuit transmission lines and substations alongside the Postal Highway that lies near the Nepal-India border. While two upper circuit lines will be of 400 kV, the other two on the lower level will have a capacity of 132 kV. Substations will be built to maintain smooth electricity supply in local areas.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to NEA’s Managing Director Kulman Ghising, 3,200 MW electricity will be supplied to Bara-Parsa Industrial Corridor of Birgunj and the remaining 800 MW will be made available in the Janakpur area. This will help in urban development as well as industrial development, added Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It will also ensure supply of good quality of electricity, according to Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The construction of transmission lines and substations will cost over Rs 50 billion. According to Ghising, the funds will be managed from state coffers as well as investment of NEA, loans from EXIM Bank of India and concessional loans from the Asian Development Bank. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In this regard, a team of high-ranking officials of NEA led by Managing Director Ghising along with the donor agencies carried out an onsite visit of the proposed construction sites on Saturday and Sunday, according to the NEA. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ghising said that the NEA is making a phase-wise plan to increase domestic consumption of electricity first and then to export surplus electricity.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16152', 'image' => '20221129014012_electricity.jpg', 'article_date' => '2022-11-29 13:39:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16410', 'article_category_id' => '1', 'title' => 'EC Directs Candidates to Submit Election Expenditures within 35 Days ', 'sub_title' => '', 'summary' => 'November 29: The Election Commission (EC) has reminded political parties and poll candidates participating in the general elections on November 20 to submit details of their election expenditures within 35 days of the announcement of the poll results.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Election Commission (EC) has reminded political parties and poll candidates participating in the general elections on November 20 to submit details of their election expenditures within 35 days of the announcement of the poll results. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The details of election expenditures under the first-past-the-post system should be submitted to the respective province and the district election office in line with the Member of the House of Representatives and the Province Assembly Election Directives, 2079. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The candidates should mention details of their bank accounts and the responsible persons who have been tasked with looking after the election expenditures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, under the proportional representation system, details of the election expenditures should be submitted within 35 days of the completion of the voting as per the Member of the House of Representatives Proportional Election Directives, 2079 (34), and the Member of the Province Assembly Proportional Election Directives, 2079 (36). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16151', 'image' => '20221129125836_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-29 12:57:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16409', 'article_category_id' => '1', 'title' => 'Mustang District Exports Apples worth Rs 500 Million ', 'sub_title' => '', 'summary' => 'November 29: Apples worth Rs 500 million have been exported from Mustang this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Apples worth Rs 500 million have been exported from Mustang this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seventy percent of the apples produced in Mustang have been supplied outside the district, according to the district-based agriculture knowledge centre. The export amounted to 4,620 metric tons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The apples produced in the district are sold at Rs 100 per kg in September and at Rs 120-130 per kg in November. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the farmers said the apples were sold at Rs 110 per kg in an average. Chief of the agriculture knowledge centre in Mustang, Prakash Bastakoti, informed that the production of apple increased by 18.56 percent this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The production has increased due to favourable climate and new plants," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The apples were planted in 580 hectares of land in Mustang. The farming is done in all five local levels of Mustang. A recent survey had revealed that 11.37 metric tons of apples are produced in a hectare of land, Bastakoti added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Agriculture officer for PM Agriculture Modernization Project, Netra Bhatta, said nearly 70 metric tons of apples are kept in six cold stores for off-season sale. In March-April, the apple will fetch better price. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Apples are produced in areas with an altitude of 2,500 meter above the sea level. The cold weather with snow adds quality and taste to the apple. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourists visiting Mustang buy apples as gift. There are also six liquor factories which produce liquor by processing apples. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16150', 'image' => '20221129115521_SushilbabuThakali_Mustang_RSS_10(2).jpg', 'article_date' => '2022-11-29 11:54:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16408', 'article_category_id' => '1', 'title' => 'NRB Quarterly Review of Monetary Policy Unlikely to Keep Fiscal Stability: NCC', 'sub_title' => '', 'summary' => 'November 29: The Nepal Chamber of Commerce (NCC) has noted that the recent arrangement made by the Nepal Rastra Bank (NRB) through the quarterly review of the monetary policy could not keep fiscal stability in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Nepal Chamber of Commerce (NCC) has noted that the recent arrangement made by the Nepal Rastra Bank (NRB) through the quarterly review of the monetary policy could not keep fiscal stability in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC has drawn a conclusion that the quarterly review along with the squeezed monetary policy could not address the problems faced by the financial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The chamber was hopeful that the quarterly review of the monetary policy could possibly address the domestic economic risks," reads a statement issued by the chamber. "Though the country witnessed some improvements in external sector there are risks in internal economic sector," the statement added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC claimed that the central bank's latest measure would not help boost the economic dynamics in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the spread rate reduction by 0.4 percent would limit rise in interest rate in coming days, it has nominal chance to slash the existing interest rates, the chamber further commented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC has urged the central bank to keep premium on base rate maximum at two percent for the banks and financial institutions (BFIs) to release loans. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC also noted that the central bank’s review of the monetary policy would further negatively affect the industrial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The chamber has cautioned the central bank with seven-point memorandum. It has also asked the central bank to reduce the existing 8.5 percent bank rate to five percent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => 'NCC, NRB, central bank, monetary, policy, review, financial, crisis, Nepal, external, sector', 'description' => '', 'sortorder' => '16149', 'image' => '20221129111533_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-11-29 11:14:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16407', 'article_category_id' => '1', 'title' => 'Casemiro Magic Sends Brazil into Knockout Stage', 'sub_title' => '', 'summary' => 'November 29: Brazil’s ‘invisible man’ Casemiro scored a stunning winner as the five-time champions edged past Switzerland to reach the World Cup knockout stage on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: Brazil’s ‘invisible man’ Casemiro scored a stunning winner as the five-time champions edged past Switzerland to reach the World Cup knockout stage on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Manchester United midfielder brought the match to life seven minutes from time in an otherwise drab encounter as he fired a first-time effort into the far corner, leaving Swiss goalkeeper Tann Sommer standing</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With this victory, Brazil leads the group with maximum points and will be guaranteed the top spot with just a draw against Cameroon in their final group-stage game.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, he was described before the match as Brazil's key "invisible man" but by full-time Casemiro was being lauded as the "best midfielder in the world".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Brazil's World Cup match against Switzerland looked to be heading for a dour, goalless draw but the Manchester United player had other ideas. With seven minutes remaining and some fans heading for the exits, Casemiro fired an unstoppable, angled drive into the far corner of the net to leave the remaining supporters roaring in delight and fire his side into the last 16 with a game to spare,” BBC reported.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16148', 'image' => '20221129104821_20221129_afp_brazilswiss.jpg', 'article_date' => '2022-11-29 10:47:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16406', 'article_category_id' => '1', 'title' => 'Fernandes Double Fires Portugal into World Cup Last 16', 'sub_title' => '', 'summary' => 'November 29: A second-half brace from Bruno Fernandes fired Portugal into the last 16 of the World Cup on Monday as they outclassed Uruguay 2-0 in a scrappy encounter at Lusail Stadium.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: A second-half brace from Bruno Fernandes fired Portugal into the last 16 of the World Cup on Monday as they outclassed Uruguay 2-0 in a "scrappy encounter" at Lusail Stadium.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, Portugal reached the knockout stage to join France and Brazil with a match to spare.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">For a Portugal whose World Cup narrative has so far been crafted by the controversy and brilliance of Cristiano Ronaldo, the night belonged to Fernandes, who shone throughout and always looked threatening, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">His first goal set the tone of how the match would play out, with a 55th minute cross intended for Ronaldo that sailed fortuitously into the net, before a perfectly executed spot kick in stoppage time that guaranteed his side's passage to the knockout stage, the news agency added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Ronaldo had celebrated the first goal ecstatically as his own and smiled awkwardly as it was announced as belonging to Fernandes, who twice came close to completing a hat-trick in the dying moments.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, it was the moment Cristiano Ronaldo thought he had joined Eusebio as Portugal's World Cup record goalscorer - well, for a couple of minutes anyway.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Portuguese forward's jubilant celebrations convinced everyone his head had got the last touch to Bruno Fernandes' cross for the crucial opener in his country's 2-0 win over Uruguay, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Not only was it a goal that sent Portugal on their way to qualification for the knockout stages with a game to spare, it was also going to be his ninth World Cup strike - bringing him level with the great Eusebio. But then came the uncertainty. While Ronaldo was clearly convinced it was his goal, the replays were not so conclusive.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => 'Portugal, Bruno, Fernandez, Ronaldo. Cristiano, Uruguay, World Cup, Brazil, France, knockout, stage, last-16', 'description' => '', 'sortorder' => '16147', 'image' => '20221129103254_skysports-portugal-uruguay_5980922.jpg', 'article_date' => '2022-11-29 10:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16405', 'article_category_id' => '1', 'title' => 'MCC Issues Public Notice for Construction of Transmission Lines ', 'sub_title' => '', 'summary' => 'November 28: The Millennium Challenge Account (MCA) Nepal has issued a specific procurement notice in regard with the construction of electricity transmission lines. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The Millennium Challenge Account (MCA) Nepal has issued a specific procurement notice in regard with the construction of electricity transmission lines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has invited sealed bids from all interested and eligible bidders for design, supply, delivery, installation, testing and commissioning of the transmission lines. The project covers Lapsiphedi-Ratmate-New Hetauda 400kV D/C transmission line, Ratmate-New Damauli 400kV D/C transmission line, New Damauli-New Butwal 400kV D/C transmission line and New Butwal-Nepal/India Border 400kV D/C transmission line, according to the notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that bidding will be conducted through the Quality and Price Based Selection (QPBS) procedures as specified in the MCC Program Procurement Guidelines (PPG), and is open to all eligible bidders or consultants as defined in the PPG. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A complete set of bidding documents may be obtained by interested bidders upon the submission of a written application at the following email address MCANepalPA@dt-global.com with cc to MCANepalPA@mcanp.org. The deadline for submitting the sealed documents is March 27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All bids shall be accompanied by a bid security amount of US$ 700,000 for Lot 1, US$ 550,000 for Lot 2 and US$ 675,000 for Lot 3 and if issued by a bank located outside of Nepal, must be confirmed (counter bank guarantee to be issued) by a correspondent financial institution located in Nepal and shall be valid until December 20, 2023, reads the notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the Government of Nepal and the United States of America-based Millennium Challenge Corporation (MCC) entered into a Millennium Challenge Compact on September 14, 2017, under which the US government pledged to provide a grant of up to US$ 500 million to expedite the economic growth and reduce poverty in Nepal to which the Government of Nepal will contribute up to US$ 130 million. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16146', 'image' => '20221128062840_20220228112208_MCC.jpg', 'article_date' => '2022-11-28 18:28:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16404', 'article_category_id' => '1', 'title' => 'Banks Charging High Interest Citing Liquidity Crisis', 'sub_title' => '', 'summary' => 'November 28: Businessmen have accused commercial banks of charging high interest rates under the pretext of lack of investable funds.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">November 28: Businessmen have accused commercial banks of charging high interest rates under the pretext of lack of investable funds. Subodh Kumar Gupta, president of Birgunj Chamber of Commerce and Industry, said that although the base rate and premium rate applicable for the loan were specified when the loan agreement was signed between the bank and the borrower, the banks are now increasing those rates arbitrarily on the pretext of lack of liquidity.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Entrepreneurs claim that the regulatory body, Nepal Rastra Bank, has become a mere spectator towards the malpractice of the banks. According to Anil Agarwal, senior vice president of the chamber, even though NRB has instructed the banks to refund the amount charged by the banks due to the increased premiums, most of the banks have not complied with the NRB instruction.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">He said that the NRB has not taken any effective action on such banks. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Agarwal stated, “The base rate of banks is reviewed every three months. The premium rate remains the same for the duration of the contract. Banks have increased the premium in an unfair manner.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Traders say that the ultimate burden of such move of the banks fall upon the consumers. Officials of NRB said that even with the borrowers’ consent, the premium cannot be increased throughout the contract period, but it has not been followed by the banks. NRB has instructed banks to return any additional sum acquired in such manner. The businessman says that NRB seems reluctant to take action against the banks for not following its instructions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to Madhav Rajpal, vice president of the association, the banks increased the premium rate by 3 to 4 percentage points by putting undue pressure on the borrowers. He informed that the base rate on the new loan has also been increased by the same amount.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The importers too complained that service charges, loan renewal charges as well as LC charges have been increased arbitrarily, holding lack of liquidity responsible.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Rajpal also informed that the chamber has written a letter to NRB about such malpractice of the banks. Businessmen say that the interest rate on loans taken in the past at 7/8 percent has now been increased to 16/17 percent. As a result, the competitiveness of business and production has decreased.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16145', 'image' => '20221128050135_20221116011323_Banks - Copy.jpg', 'article_date' => '2022-11-28 17:01:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16403', 'article_category_id' => '1', 'title' => 'Germany Keep World Cup Hopes Alive as Morocco Stun Belgium', 'sub_title' => '', 'summary' => 'November 28: A late goal by substitute Niclas Fuellkrug allowed Germany to snatch a 1-1 draw with Spain on Sunday as the four-time winners kept their World Cup hopes alive, but Belgium are in danger of a group-stage exit after losing to Morocco.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 28: A late goal by substitute Niclas Fuellkrug allowed Germany to snatch a 1-1 draw with Spain on Sunday as the four-time winners kept their World Cup hopes alive, but Belgium are in danger of a group-stage exit after losing to Morocco.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Elsewhere, 2018 runners-up Croatia crushed Canada 4-1 to eliminate their opponents while Costa Rica claimed a shock win over Japan.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Keysher Fuller's 81st-minute goal for Costa Rica at Doha's Ahmad Bin Ali Stadium in Sunday's early game eased some of the pressure on the Germans as it prevented Japan from taking a giant stride towards the last 16.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Hansi Flick's German side nevertheless desperately needed something from their meeting with 2010 winners Spain at Al Bayt Stadium in Al Khor, north of Doha, after losing 2-1 to Japan in their Group E opener.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yet they were in big trouble when substitute Alvaro Morata turned in Jordi Alba's cross to put Spain ahead just after the hour mark.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">However Germany, who had an Antonio Ruediger goal disallowed for offside in the first half, had a substitute of their own to thank as Werder Bremen striker Fuellkrug lashed in an 83rd-minute leveller on just his third international appearance. (AFP/RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16144', 'image' => '20221128043752_germany-spain-1024x569.jpg', 'article_date' => '2022-11-28 16:37:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16402', 'article_category_id' => '1', 'title' => 'Business Community Urges NRB to Review Working Capital Loan Guidelines', 'sub_title' => '', 'summary' => 'November 28: Private sector stakeholders have urged the central bank not to implement the Working Capital Loan Guidelines 2079 at once but to implement it in a phase-wise manner. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">November 28: Private sector stakeholders have urged the central bank not to implement the Working Capital Loan Guidelines 2079 at once but to implement it in a phase-wise manner. The guidelines have already come into effect since the last two months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) submitted a written memo to Nepal Rastra Bank (NRB) requesting it to implement the guidelines in a phase-wise manner. The central bank officials had earlier said that they would review the guidelines after the November 20 elections to the House of Representatives and provincial assemblies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan to 20 in case of a company whose annual transaction is less than Rs 20 million. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The businessmen, however, have urged the central bank to provide 40 percent loan for a company with annual transaction of Rs 20 million and 50 percent loan for transaction above that threshold. Also, they have urged the NRB to avail term loans for up to 180 days instead of 90 days. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16143', 'image' => '20221128020539_Working-Capital-Loan.jpg', 'article_date' => '2022-11-28 14:05:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16401', 'article_category_id' => '1', 'title' => 'Gold Price Dips in Int’l Market as Dollar Gains on China COVID Risks', 'sub_title' => 'Gold Price Remains as High as Rs 97.500 Per 11 Grams in Nepal', 'summary' => 'November 28: Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions, Reuters reported.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 28: Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, spot gold was down 0.4 percent at US$1,748.84 per ounce, as of 0555 GMT. US gold futures fell 0.3 percent to US$1,749.60.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The dollar index was up 0.4 percent, making the greenback-priced bullion more expensive for buyers holding other currencies, added Reuters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Gold prices have been tracking the US dollar's moves closely, and increased uncertainty from the growing unrest in China seems to be underpinning the dollar this morning," Reuters quoted IG market strategist Yeap Jun Rong as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, hundreds of demonstrators and police clashed in Shanghai on Sunday night as protests over China's stringent COVID restrictions flared for a third day and spread to several cities in the wake of a deadly fire in the country's far west.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People may be shifting to defensive assets considering the COVID situation in China, but the dollar's gains are currently overshadowing gold's safe-haven status, Yeap added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the price of gold remained as high as Rs 97,500 per tola (11.6 grams approx.) in Nepal, according to the latest update posted on the website of the Federation of Nepal Gold and Silver Dealers Association on Monday. </span></span></p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16142', 'image' => '20221128012712_gold.jpg', 'article_date' => '2022-11-28 13:26:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16400', 'article_category_id' => '1', 'title' => 'Over 60 Former MPs defeated in Election ', 'sub_title' => '', 'summary' => 'November 28: More than 60 former members of parliament (MPs) who contested the November 20 election have faced defeats. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: More than 60 former members of parliament (MPs) who contested the November 20 election have faced defeats. Those defeated also include party chair, vice-chair, general secretary, former chief minister of the province and other top leaders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the election, former prime minister and senior leader of CPN (Unified Socialist) Jhala Nath Khanal, Chairman of Janata Samajwadi Party Nepal Upendra Yadav, senior leader of Loktantrik Samajwadi Party Rajendra Mahato, CPN (UML) senior-vice chairman Ishwar Pokharel, vice-chairman Surendra Pandey, general secretary Shanker Pokharel, assistant general secretary Pradip Kumar Gyawali were defeated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, general secretary of CPN (Maoist Centre) Dev Prasad Gurung, assistant general secretary duo Giriraj Mani Pokharel and Pampha Bhusal also faced defeat while former chief minister of Province 1 and UML leader Sher Dhan Rai is also among the leaders staying out of the legislative body. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former speaker of the House of Representatives Onsari Gharti, former deputy speaker Pushpa Bhsual, vice-chairperson of Rastriya Janamorcha Durga Poudel, Home Minister Bal Krishna Khand, NC assistant general secretary Uma Kanta Chaudhary and other leaders also could not make it to the HoR. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The other former MPs who lost the election include Matrika Prasad Yadav, Mohammad Istiyak Rai, Yagya Raj Sunuwar, Rajendra Prasad Gautam, Rajendra Prasad Shrestha, Ram Kumari Jhankri, Hridayesh Tripathi and Rambir Manandhar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, this election remained a tough nut to crack for the politicians like Laxman Lal Karn, Lal Babu Pandit, Sujata Koirala, Lekhraj Bhatta, Bijaya Kumar Gachchhadar, Bina Magar, Birodh Khatiwada, Som Prasad Pandey, Sher Bahadur Tamang, Bijaya Subba, Bishal Bhattarai, Surya Prasad Pathak, Komal Oli, Kamal Thapa, Jeevan Ram Shrestha, Maheshwar Jung Gahatraj, Krishna Sitaula and Umesh Shrestha. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16141', 'image' => '20221128010311_JNK (Copy).jpg', 'article_date' => '2022-11-28 13:01:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nov 29: Nepal Investment Bank Limited (NIBL) and Mega Bank have signed a final draft of Memorandum of Understanding (MoU) for a merger. A meeting of the Board of Directors of both the banks have endorsed the document and exchanged it, paving the way for merging the institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the deadline set by the Nepal Rastra Bank (NRB), the banks can go for merger till January 6, 2023 to receive benefits announced by the central bank. </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 merger committee member Gopal Khanal, who is also a member of the Board of Directors of Mega Bank, they plan to merge and launch integrated transactions within the deadline given by the central bank. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The banks signed a preliminary merger agreement with a swap ratio of 100: 90 on June 10. One unit of share of the NIBL will be equivalent to 0.90 of Mega Bank. NIBL’s paid-up capital is Rs18.31 billion while that of Mega Bank is Rs16.2 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Following the merger, the new entity is to be named Nepal Investment Mega Bank and Prithvi Bahadur Pande will be its chair and Jyoti Pandey the Chief Executive Officer. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16154', 'image' => '20221129052420_20220713054958_merger.jpg', 'article_date' => '2022-11-29 17:23:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16412', 'article_category_id' => '1', 'title' => 'Central Bank Reduces Limit on Dividends to Be Issued by Microfinance Companies', 'sub_title' => '', 'summary' => 'November 29: Nepal Rastra Bank (NRB) has reduced the limit on issuing dividends by microfinance companies.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 29: Nepal Rastra Bank (NRB) has reduced the limit on issuing dividends by microfinance companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Issuing the Unified Directives on Monday, the central bank has made arrangements for microfinance companies to issue dividends up to 30 percent of the paid-up capital</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">If the microfinance companies are to distribute dividends of more than 20 percent, the NRB has instructed those companies to maintain at least 50 percent of the dividend amount in their reserve funds.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The dividend could be both cash or bonus shares.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the central bank had issued a directive allowing microfinance companies to distribute cash dividends of only up to 30 percent of their net distributable profits citing Covid-19 crisis.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The microfinance companies were permitted to distribute cash dividends not exceeding the weighted interest rates on their deposits.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the same directive, microfinance companies were not allowed to issue cash dividends if the net distributable profit is less than 5 percent of the paid-up capital.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The central bank took such measures after the microfinance companies, whose primary objective is to serve the poor and marginalized people, were criticized for making excessive profit.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16153', 'image' => '20221129032953_dividend.jpg', 'article_date' => '2022-11-29 15:28:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16411', 'article_category_id' => '1', 'title' => 'NEA to Expand Transmission Lines in Madhes Province to Increase Electricity Consumption', 'sub_title' => '', 'summary' => 'November 29: Nepal Electricity Authority (NEA) is preparing to expand the network of transmission lines with the objective of increasing consumption of electricity in Madhes Province to 4,000 Megawatts (MW).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 29: Nepal Electricity Authority (NEA) is preparing to expand the network of transmission lines with the objective of increasing consumption of electricity in Madhes Province to 4,000 Megawatts (MW).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The state-owned power utility aims to increase electricity consumption in human settlements and industrial corridors in southern belts of the Terai including Bara, Parsa, Rautahat, Mahottari and Dhanusha. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">For this purpose, the NEA is planning to construct four high-powered transmission lines and sub stations along the Postal Highway by 2050.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As per the plan, the NEA will construct four-circuit transmission lines and substations alongside the Postal Highway that lies near the Nepal-India border. While two upper circuit lines will be of 400 kV, the other two on the lower level will have a capacity of 132 kV. Substations will be built to maintain smooth electricity supply in local areas.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to NEA’s Managing Director Kulman Ghising, 3,200 MW electricity will be supplied to Bara-Parsa Industrial Corridor of Birgunj and the remaining 800 MW will be made available in the Janakpur area. This will help in urban development as well as industrial development, added Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It will also ensure supply of good quality of electricity, according to Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The construction of transmission lines and substations will cost over Rs 50 billion. According to Ghising, the funds will be managed from state coffers as well as investment of NEA, loans from EXIM Bank of India and concessional loans from the Asian Development Bank. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In this regard, a team of high-ranking officials of NEA led by Managing Director Ghising along with the donor agencies carried out an onsite visit of the proposed construction sites on Saturday and Sunday, according to the NEA. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ghising said that the NEA is making a phase-wise plan to increase domestic consumption of electricity first and then to export surplus electricity.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16152', 'image' => '20221129014012_electricity.jpg', 'article_date' => '2022-11-29 13:39:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16410', 'article_category_id' => '1', 'title' => 'EC Directs Candidates to Submit Election Expenditures within 35 Days ', 'sub_title' => '', 'summary' => 'November 29: The Election Commission (EC) has reminded political parties and poll candidates participating in the general elections on November 20 to submit details of their election expenditures within 35 days of the announcement of the poll results.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Election Commission (EC) has reminded political parties and poll candidates participating in the general elections on November 20 to submit details of their election expenditures within 35 days of the announcement of the poll results. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The details of election expenditures under the first-past-the-post system should be submitted to the respective province and the district election office in line with the Member of the House of Representatives and the Province Assembly Election Directives, 2079. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The candidates should mention details of their bank accounts and the responsible persons who have been tasked with looking after the election expenditures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, under the proportional representation system, details of the election expenditures should be submitted within 35 days of the completion of the voting as per the Member of the House of Representatives Proportional Election Directives, 2079 (34), and the Member of the Province Assembly Proportional Election Directives, 2079 (36). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16151', 'image' => '20221129125836_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-29 12:57:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16409', 'article_category_id' => '1', 'title' => 'Mustang District Exports Apples worth Rs 500 Million ', 'sub_title' => '', 'summary' => 'November 29: Apples worth Rs 500 million have been exported from Mustang this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Apples worth Rs 500 million have been exported from Mustang this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seventy percent of the apples produced in Mustang have been supplied outside the district, according to the district-based agriculture knowledge centre. The export amounted to 4,620 metric tons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The apples produced in the district are sold at Rs 100 per kg in September and at Rs 120-130 per kg in November. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the farmers said the apples were sold at Rs 110 per kg in an average. Chief of the agriculture knowledge centre in Mustang, Prakash Bastakoti, informed that the production of apple increased by 18.56 percent this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The production has increased due to favourable climate and new plants," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The apples were planted in 580 hectares of land in Mustang. The farming is done in all five local levels of Mustang. A recent survey had revealed that 11.37 metric tons of apples are produced in a hectare of land, Bastakoti added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Agriculture officer for PM Agriculture Modernization Project, Netra Bhatta, said nearly 70 metric tons of apples are kept in six cold stores for off-season sale. In March-April, the apple will fetch better price. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Apples are produced in areas with an altitude of 2,500 meter above the sea level. The cold weather with snow adds quality and taste to the apple. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourists visiting Mustang buy apples as gift. There are also six liquor factories which produce liquor by processing apples. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16150', 'image' => '20221129115521_SushilbabuThakali_Mustang_RSS_10(2).jpg', 'article_date' => '2022-11-29 11:54:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16408', 'article_category_id' => '1', 'title' => 'NRB Quarterly Review of Monetary Policy Unlikely to Keep Fiscal Stability: NCC', 'sub_title' => '', 'summary' => 'November 29: The Nepal Chamber of Commerce (NCC) has noted that the recent arrangement made by the Nepal Rastra Bank (NRB) through the quarterly review of the monetary policy could not keep fiscal stability in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Nepal Chamber of Commerce (NCC) has noted that the recent arrangement made by the Nepal Rastra Bank (NRB) through the quarterly review of the monetary policy could not keep fiscal stability in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC has drawn a conclusion that the quarterly review along with the squeezed monetary policy could not address the problems faced by the financial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The chamber was hopeful that the quarterly review of the monetary policy could possibly address the domestic economic risks," reads a statement issued by the chamber. "Though the country witnessed some improvements in external sector there are risks in internal economic sector," the statement added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC claimed that the central bank's latest measure would not help boost the economic dynamics in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the spread rate reduction by 0.4 percent would limit rise in interest rate in coming days, it has nominal chance to slash the existing interest rates, the chamber further commented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC has urged the central bank to keep premium on base rate maximum at two percent for the banks and financial institutions (BFIs) to release loans. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC also noted that the central bank’s review of the monetary policy would further negatively affect the industrial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The chamber has cautioned the central bank with seven-point memorandum. It has also asked the central bank to reduce the existing 8.5 percent bank rate to five percent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => 'NCC, NRB, central bank, monetary, policy, review, financial, crisis, Nepal, external, sector', 'description' => '', 'sortorder' => '16149', 'image' => '20221129111533_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-11-29 11:14:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16407', 'article_category_id' => '1', 'title' => 'Casemiro Magic Sends Brazil into Knockout Stage', 'sub_title' => '', 'summary' => 'November 29: Brazil’s ‘invisible man’ Casemiro scored a stunning winner as the five-time champions edged past Switzerland to reach the World Cup knockout stage on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: Brazil’s ‘invisible man’ Casemiro scored a stunning winner as the five-time champions edged past Switzerland to reach the World Cup knockout stage on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Manchester United midfielder brought the match to life seven minutes from time in an otherwise drab encounter as he fired a first-time effort into the far corner, leaving Swiss goalkeeper Tann Sommer standing</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With this victory, Brazil leads the group with maximum points and will be guaranteed the top spot with just a draw against Cameroon in their final group-stage game.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, he was described before the match as Brazil's key "invisible man" but by full-time Casemiro was being lauded as the "best midfielder in the world".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Brazil's World Cup match against Switzerland looked to be heading for a dour, goalless draw but the Manchester United player had other ideas. With seven minutes remaining and some fans heading for the exits, Casemiro fired an unstoppable, angled drive into the far corner of the net to leave the remaining supporters roaring in delight and fire his side into the last 16 with a game to spare,” BBC reported.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16148', 'image' => '20221129104821_20221129_afp_brazilswiss.jpg', 'article_date' => '2022-11-29 10:47:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16406', 'article_category_id' => '1', 'title' => 'Fernandes Double Fires Portugal into World Cup Last 16', 'sub_title' => '', 'summary' => 'November 29: A second-half brace from Bruno Fernandes fired Portugal into the last 16 of the World Cup on Monday as they outclassed Uruguay 2-0 in a scrappy encounter at Lusail Stadium.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: A second-half brace from Bruno Fernandes fired Portugal into the last 16 of the World Cup on Monday as they outclassed Uruguay 2-0 in a "scrappy encounter" at Lusail Stadium.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, Portugal reached the knockout stage to join France and Brazil with a match to spare.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">For a Portugal whose World Cup narrative has so far been crafted by the controversy and brilliance of Cristiano Ronaldo, the night belonged to Fernandes, who shone throughout and always looked threatening, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">His first goal set the tone of how the match would play out, with a 55th minute cross intended for Ronaldo that sailed fortuitously into the net, before a perfectly executed spot kick in stoppage time that guaranteed his side's passage to the knockout stage, the news agency added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Ronaldo had celebrated the first goal ecstatically as his own and smiled awkwardly as it was announced as belonging to Fernandes, who twice came close to completing a hat-trick in the dying moments.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, it was the moment Cristiano Ronaldo thought he had joined Eusebio as Portugal's World Cup record goalscorer - well, for a couple of minutes anyway.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Portuguese forward's jubilant celebrations convinced everyone his head had got the last touch to Bruno Fernandes' cross for the crucial opener in his country's 2-0 win over Uruguay, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Not only was it a goal that sent Portugal on their way to qualification for the knockout stages with a game to spare, it was also going to be his ninth World Cup strike - bringing him level with the great Eusebio. But then came the uncertainty. While Ronaldo was clearly convinced it was his goal, the replays were not so conclusive.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => 'Portugal, Bruno, Fernandez, Ronaldo. Cristiano, Uruguay, World Cup, Brazil, France, knockout, stage, last-16', 'description' => '', 'sortorder' => '16147', 'image' => '20221129103254_skysports-portugal-uruguay_5980922.jpg', 'article_date' => '2022-11-29 10:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16405', 'article_category_id' => '1', 'title' => 'MCC Issues Public Notice for Construction of Transmission Lines ', 'sub_title' => '', 'summary' => 'November 28: The Millennium Challenge Account (MCA) Nepal has issued a specific procurement notice in regard with the construction of electricity transmission lines. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The Millennium Challenge Account (MCA) Nepal has issued a specific procurement notice in regard with the construction of electricity transmission lines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has invited sealed bids from all interested and eligible bidders for design, supply, delivery, installation, testing and commissioning of the transmission lines. The project covers Lapsiphedi-Ratmate-New Hetauda 400kV D/C transmission line, Ratmate-New Damauli 400kV D/C transmission line, New Damauli-New Butwal 400kV D/C transmission line and New Butwal-Nepal/India Border 400kV D/C transmission line, according to the notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that bidding will be conducted through the Quality and Price Based Selection (QPBS) procedures as specified in the MCC Program Procurement Guidelines (PPG), and is open to all eligible bidders or consultants as defined in the PPG. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A complete set of bidding documents may be obtained by interested bidders upon the submission of a written application at the following email address MCANepalPA@dt-global.com with cc to MCANepalPA@mcanp.org. The deadline for submitting the sealed documents is March 27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All bids shall be accompanied by a bid security amount of US$ 700,000 for Lot 1, US$ 550,000 for Lot 2 and US$ 675,000 for Lot 3 and if issued by a bank located outside of Nepal, must be confirmed (counter bank guarantee to be issued) by a correspondent financial institution located in Nepal and shall be valid until December 20, 2023, reads the notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the Government of Nepal and the United States of America-based Millennium Challenge Corporation (MCC) entered into a Millennium Challenge Compact on September 14, 2017, under which the US government pledged to provide a grant of up to US$ 500 million to expedite the economic growth and reduce poverty in Nepal to which the Government of Nepal will contribute up to US$ 130 million. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16146', 'image' => '20221128062840_20220228112208_MCC.jpg', 'article_date' => '2022-11-28 18:28:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16404', 'article_category_id' => '1', 'title' => 'Banks Charging High Interest Citing Liquidity Crisis', 'sub_title' => '', 'summary' => 'November 28: Businessmen have accused commercial banks of charging high interest rates under the pretext of lack of investable funds.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">November 28: Businessmen have accused commercial banks of charging high interest rates under the pretext of lack of investable funds. Subodh Kumar Gupta, president of Birgunj Chamber of Commerce and Industry, said that although the base rate and premium rate applicable for the loan were specified when the loan agreement was signed between the bank and the borrower, the banks are now increasing those rates arbitrarily on the pretext of lack of liquidity.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Entrepreneurs claim that the regulatory body, Nepal Rastra Bank, has become a mere spectator towards the malpractice of the banks. According to Anil Agarwal, senior vice president of the chamber, even though NRB has instructed the banks to refund the amount charged by the banks due to the increased premiums, most of the banks have not complied with the NRB instruction.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">He said that the NRB has not taken any effective action on such banks. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Agarwal stated, “The base rate of banks is reviewed every three months. The premium rate remains the same for the duration of the contract. Banks have increased the premium in an unfair manner.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Traders say that the ultimate burden of such move of the banks fall upon the consumers. Officials of NRB said that even with the borrowers’ consent, the premium cannot be increased throughout the contract period, but it has not been followed by the banks. NRB has instructed banks to return any additional sum acquired in such manner. The businessman says that NRB seems reluctant to take action against the banks for not following its instructions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to Madhav Rajpal, vice president of the association, the banks increased the premium rate by 3 to 4 percentage points by putting undue pressure on the borrowers. He informed that the base rate on the new loan has also been increased by the same amount.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The importers too complained that service charges, loan renewal charges as well as LC charges have been increased arbitrarily, holding lack of liquidity responsible.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Rajpal also informed that the chamber has written a letter to NRB about such malpractice of the banks. Businessmen say that the interest rate on loans taken in the past at 7/8 percent has now been increased to 16/17 percent. As a result, the competitiveness of business and production has decreased.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16145', 'image' => '20221128050135_20221116011323_Banks - Copy.jpg', 'article_date' => '2022-11-28 17:01:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16403', 'article_category_id' => '1', 'title' => 'Germany Keep World Cup Hopes Alive as Morocco Stun Belgium', 'sub_title' => '', 'summary' => 'November 28: A late goal by substitute Niclas Fuellkrug allowed Germany to snatch a 1-1 draw with Spain on Sunday as the four-time winners kept their World Cup hopes alive, but Belgium are in danger of a group-stage exit after losing to Morocco.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 28: A late goal by substitute Niclas Fuellkrug allowed Germany to snatch a 1-1 draw with Spain on Sunday as the four-time winners kept their World Cup hopes alive, but Belgium are in danger of a group-stage exit after losing to Morocco.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Elsewhere, 2018 runners-up Croatia crushed Canada 4-1 to eliminate their opponents while Costa Rica claimed a shock win over Japan.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Keysher Fuller's 81st-minute goal for Costa Rica at Doha's Ahmad Bin Ali Stadium in Sunday's early game eased some of the pressure on the Germans as it prevented Japan from taking a giant stride towards the last 16.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Hansi Flick's German side nevertheless desperately needed something from their meeting with 2010 winners Spain at Al Bayt Stadium in Al Khor, north of Doha, after losing 2-1 to Japan in their Group E opener.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yet they were in big trouble when substitute Alvaro Morata turned in Jordi Alba's cross to put Spain ahead just after the hour mark.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">However Germany, who had an Antonio Ruediger goal disallowed for offside in the first half, had a substitute of their own to thank as Werder Bremen striker Fuellkrug lashed in an 83rd-minute leveller on just his third international appearance. (AFP/RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16144', 'image' => '20221128043752_germany-spain-1024x569.jpg', 'article_date' => '2022-11-28 16:37:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16402', 'article_category_id' => '1', 'title' => 'Business Community Urges NRB to Review Working Capital Loan Guidelines', 'sub_title' => '', 'summary' => 'November 28: Private sector stakeholders have urged the central bank not to implement the Working Capital Loan Guidelines 2079 at once but to implement it in a phase-wise manner. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">November 28: Private sector stakeholders have urged the central bank not to implement the Working Capital Loan Guidelines 2079 at once but to implement it in a phase-wise manner. The guidelines have already come into effect since the last two months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) submitted a written memo to Nepal Rastra Bank (NRB) requesting it to implement the guidelines in a phase-wise manner. The central bank officials had earlier said that they would review the guidelines after the November 20 elections to the House of Representatives and provincial assemblies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan to 20 in case of a company whose annual transaction is less than Rs 20 million. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The businessmen, however, have urged the central bank to provide 40 percent loan for a company with annual transaction of Rs 20 million and 50 percent loan for transaction above that threshold. Also, they have urged the NRB to avail term loans for up to 180 days instead of 90 days. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16143', 'image' => '20221128020539_Working-Capital-Loan.jpg', 'article_date' => '2022-11-28 14:05:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16401', 'article_category_id' => '1', 'title' => 'Gold Price Dips in Int’l Market as Dollar Gains on China COVID Risks', 'sub_title' => 'Gold Price Remains as High as Rs 97.500 Per 11 Grams in Nepal', 'summary' => 'November 28: Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions, Reuters reported.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 28: Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, spot gold was down 0.4 percent at US$1,748.84 per ounce, as of 0555 GMT. US gold futures fell 0.3 percent to US$1,749.60.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The dollar index was up 0.4 percent, making the greenback-priced bullion more expensive for buyers holding other currencies, added Reuters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Gold prices have been tracking the US dollar's moves closely, and increased uncertainty from the growing unrest in China seems to be underpinning the dollar this morning," Reuters quoted IG market strategist Yeap Jun Rong as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, hundreds of demonstrators and police clashed in Shanghai on Sunday night as protests over China's stringent COVID restrictions flared for a third day and spread to several cities in the wake of a deadly fire in the country's far west.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People may be shifting to defensive assets considering the COVID situation in China, but the dollar's gains are currently overshadowing gold's safe-haven status, Yeap added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the price of gold remained as high as Rs 97,500 per tola (11.6 grams approx.) in Nepal, according to the latest update posted on the website of the Federation of Nepal Gold and Silver Dealers Association on Monday. </span></span></p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16142', 'image' => '20221128012712_gold.jpg', 'article_date' => '2022-11-28 13:26:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16400', 'article_category_id' => '1', 'title' => 'Over 60 Former MPs defeated in Election ', 'sub_title' => '', 'summary' => 'November 28: More than 60 former members of parliament (MPs) who contested the November 20 election have faced defeats. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: More than 60 former members of parliament (MPs) who contested the November 20 election have faced defeats. Those defeated also include party chair, vice-chair, general secretary, former chief minister of the province and other top leaders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the election, former prime minister and senior leader of CPN (Unified Socialist) Jhala Nath Khanal, Chairman of Janata Samajwadi Party Nepal Upendra Yadav, senior leader of Loktantrik Samajwadi Party Rajendra Mahato, CPN (UML) senior-vice chairman Ishwar Pokharel, vice-chairman Surendra Pandey, general secretary Shanker Pokharel, assistant general secretary Pradip Kumar Gyawali were defeated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, general secretary of CPN (Maoist Centre) Dev Prasad Gurung, assistant general secretary duo Giriraj Mani Pokharel and Pampha Bhusal also faced defeat while former chief minister of Province 1 and UML leader Sher Dhan Rai is also among the leaders staying out of the legislative body. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former speaker of the House of Representatives Onsari Gharti, former deputy speaker Pushpa Bhsual, vice-chairperson of Rastriya Janamorcha Durga Poudel, Home Minister Bal Krishna Khand, NC assistant general secretary Uma Kanta Chaudhary and other leaders also could not make it to the HoR. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The other former MPs who lost the election include Matrika Prasad Yadav, Mohammad Istiyak Rai, Yagya Raj Sunuwar, Rajendra Prasad Gautam, Rajendra Prasad Shrestha, Ram Kumari Jhankri, Hridayesh Tripathi and Rambir Manandhar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, this election remained a tough nut to crack for the politicians like Laxman Lal Karn, Lal Babu Pandit, Sujata Koirala, Lekhraj Bhatta, Bijaya Kumar Gachchhadar, Bina Magar, Birodh Khatiwada, Som Prasad Pandey, Sher Bahadur Tamang, Bijaya Subba, Bishal Bhattarai, Surya Prasad Pathak, Komal Oli, Kamal Thapa, Jeevan Ram Shrestha, Maheshwar Jung Gahatraj, Krishna Sitaula and Umesh Shrestha. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16141', 'image' => '20221128010311_JNK (Copy).jpg', 'article_date' => '2022-11-28 13:01:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nov 29: Nepal Investment Bank Limited (NIBL) and Mega Bank have signed a final draft of Memorandum of Understanding (MoU) for a merger. A meeting of the Board of Directors of both the banks have endorsed the document and exchanged it, paving the way for merging the institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the deadline set by the Nepal Rastra Bank (NRB), the banks can go for merger till January 6, 2023 to receive benefits announced by the central bank. </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 merger committee member Gopal Khanal, who is also a member of the Board of Directors of Mega Bank, they plan to merge and launch integrated transactions within the deadline given by the central bank. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The banks signed a preliminary merger agreement with a swap ratio of 100: 90 on June 10. One unit of share of the NIBL will be equivalent to 0.90 of Mega Bank. NIBL’s paid-up capital is Rs18.31 billion while that of Mega Bank is Rs16.2 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Following the merger, the new entity is to be named Nepal Investment Mega Bank and Prithvi Bahadur Pande will be its chair and Jyoti Pandey the Chief Executive Officer. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16154', 'image' => '20221129052420_20220713054958_merger.jpg', 'article_date' => '2022-11-29 17:23:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16412', 'article_category_id' => '1', 'title' => 'Central Bank Reduces Limit on Dividends to Be Issued by Microfinance Companies', 'sub_title' => '', 'summary' => 'November 29: Nepal Rastra Bank (NRB) has reduced the limit on issuing dividends by microfinance companies.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 29: Nepal Rastra Bank (NRB) has reduced the limit on issuing dividends by microfinance companies.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Issuing the Unified Directives on Monday, the central bank has made arrangements for microfinance companies to issue dividends up to 30 percent of the paid-up capital</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">If the microfinance companies are to distribute dividends of more than 20 percent, the NRB has instructed those companies to maintain at least 50 percent of the dividend amount in their reserve funds.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The dividend could be both cash or bonus shares.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the central bank had issued a directive allowing microfinance companies to distribute cash dividends of only up to 30 percent of their net distributable profits citing Covid-19 crisis.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The microfinance companies were permitted to distribute cash dividends not exceeding the weighted interest rates on their deposits.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the same directive, microfinance companies were not allowed to issue cash dividends if the net distributable profit is less than 5 percent of the paid-up capital.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The central bank took such measures after the microfinance companies, whose primary objective is to serve the poor and marginalized people, were criticized for making excessive profit.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16153', 'image' => '20221129032953_dividend.jpg', 'article_date' => '2022-11-29 15:28:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16411', 'article_category_id' => '1', 'title' => 'NEA to Expand Transmission Lines in Madhes Province to Increase Electricity Consumption', 'sub_title' => '', 'summary' => 'November 29: Nepal Electricity Authority (NEA) is preparing to expand the network of transmission lines with the objective of increasing consumption of electricity in Madhes Province to 4,000 Megawatts (MW).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 29: Nepal Electricity Authority (NEA) is preparing to expand the network of transmission lines with the objective of increasing consumption of electricity in Madhes Province to 4,000 Megawatts (MW).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The state-owned power utility aims to increase electricity consumption in human settlements and industrial corridors in southern belts of the Terai including Bara, Parsa, Rautahat, Mahottari and Dhanusha. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">For this purpose, the NEA is planning to construct four high-powered transmission lines and sub stations along the Postal Highway by 2050.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As per the plan, the NEA will construct four-circuit transmission lines and substations alongside the Postal Highway that lies near the Nepal-India border. While two upper circuit lines will be of 400 kV, the other two on the lower level will have a capacity of 132 kV. Substations will be built to maintain smooth electricity supply in local areas.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to NEA’s Managing Director Kulman Ghising, 3,200 MW electricity will be supplied to Bara-Parsa Industrial Corridor of Birgunj and the remaining 800 MW will be made available in the Janakpur area. This will help in urban development as well as industrial development, added Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It will also ensure supply of good quality of electricity, according to Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The construction of transmission lines and substations will cost over Rs 50 billion. According to Ghising, the funds will be managed from state coffers as well as investment of NEA, loans from EXIM Bank of India and concessional loans from the Asian Development Bank. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In this regard, a team of high-ranking officials of NEA led by Managing Director Ghising along with the donor agencies carried out an onsite visit of the proposed construction sites on Saturday and Sunday, according to the NEA. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ghising said that the NEA is making a phase-wise plan to increase domestic consumption of electricity first and then to export surplus electricity.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16152', 'image' => '20221129014012_electricity.jpg', 'article_date' => '2022-11-29 13:39:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16410', 'article_category_id' => '1', 'title' => 'EC Directs Candidates to Submit Election Expenditures within 35 Days ', 'sub_title' => '', 'summary' => 'November 29: The Election Commission (EC) has reminded political parties and poll candidates participating in the general elections on November 20 to submit details of their election expenditures within 35 days of the announcement of the poll results.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Election Commission (EC) has reminded political parties and poll candidates participating in the general elections on November 20 to submit details of their election expenditures within 35 days of the announcement of the poll results. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The details of election expenditures under the first-past-the-post system should be submitted to the respective province and the district election office in line with the Member of the House of Representatives and the Province Assembly Election Directives, 2079. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The candidates should mention details of their bank accounts and the responsible persons who have been tasked with looking after the election expenditures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, under the proportional representation system, details of the election expenditures should be submitted within 35 days of the completion of the voting as per the Member of the House of Representatives Proportional Election Directives, 2079 (34), and the Member of the Province Assembly Proportional Election Directives, 2079 (36). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16151', 'image' => '20221129125836_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-29 12:57:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16409', 'article_category_id' => '1', 'title' => 'Mustang District Exports Apples worth Rs 500 Million ', 'sub_title' => '', 'summary' => 'November 29: Apples worth Rs 500 million have been exported from Mustang this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: Apples worth Rs 500 million have been exported from Mustang this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seventy percent of the apples produced in Mustang have been supplied outside the district, according to the district-based agriculture knowledge centre. The export amounted to 4,620 metric tons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The apples produced in the district are sold at Rs 100 per kg in September and at Rs 120-130 per kg in November. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the farmers said the apples were sold at Rs 110 per kg in an average. Chief of the agriculture knowledge centre in Mustang, Prakash Bastakoti, informed that the production of apple increased by 18.56 percent this year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"The production has increased due to favourable climate and new plants," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The apples were planted in 580 hectares of land in Mustang. The farming is done in all five local levels of Mustang. A recent survey had revealed that 11.37 metric tons of apples are produced in a hectare of land, Bastakoti added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Agriculture officer for PM Agriculture Modernization Project, Netra Bhatta, said nearly 70 metric tons of apples are kept in six cold stores for off-season sale. In March-April, the apple will fetch better price. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Apples are produced in areas with an altitude of 2,500 meter above the sea level. The cold weather with snow adds quality and taste to the apple. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourists visiting Mustang buy apples as gift. There are also six liquor factories which produce liquor by processing apples. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16150', 'image' => '20221129115521_SushilbabuThakali_Mustang_RSS_10(2).jpg', 'article_date' => '2022-11-29 11:54:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16408', 'article_category_id' => '1', 'title' => 'NRB Quarterly Review of Monetary Policy Unlikely to Keep Fiscal Stability: NCC', 'sub_title' => '', 'summary' => 'November 29: The Nepal Chamber of Commerce (NCC) has noted that the recent arrangement made by the Nepal Rastra Bank (NRB) through the quarterly review of the monetary policy could not keep fiscal stability in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 29: The Nepal Chamber of Commerce (NCC) has noted that the recent arrangement made by the Nepal Rastra Bank (NRB) through the quarterly review of the monetary policy could not keep fiscal stability in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC has drawn a conclusion that the quarterly review along with the squeezed monetary policy could not address the problems faced by the financial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The chamber was hopeful that the quarterly review of the monetary policy could possibly address the domestic economic risks," reads a statement issued by the chamber. "Though the country witnessed some improvements in external sector there are risks in internal economic sector," the statement added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC claimed that the central bank's latest measure would not help boost the economic dynamics in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the spread rate reduction by 0.4 percent would limit rise in interest rate in coming days, it has nominal chance to slash the existing interest rates, the chamber further commented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC has urged the central bank to keep premium on base rate maximum at two percent for the banks and financial institutions (BFIs) to release loans. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NCC also noted that the central bank’s review of the monetary policy would further negatively affect the industrial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The chamber has cautioned the central bank with seven-point memorandum. It has also asked the central bank to reduce the existing 8.5 percent bank rate to five percent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => 'NCC, NRB, central bank, monetary, policy, review, financial, crisis, Nepal, external, sector', 'description' => '', 'sortorder' => '16149', 'image' => '20221129111533_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-11-29 11:14:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16407', 'article_category_id' => '1', 'title' => 'Casemiro Magic Sends Brazil into Knockout Stage', 'sub_title' => '', 'summary' => 'November 29: Brazil’s ‘invisible man’ Casemiro scored a stunning winner as the five-time champions edged past Switzerland to reach the World Cup knockout stage on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: Brazil’s ‘invisible man’ Casemiro scored a stunning winner as the five-time champions edged past Switzerland to reach the World Cup knockout stage on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Manchester United midfielder brought the match to life seven minutes from time in an otherwise drab encounter as he fired a first-time effort into the far corner, leaving Swiss goalkeeper Tann Sommer standing</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With this victory, Brazil leads the group with maximum points and will be guaranteed the top spot with just a draw against Cameroon in their final group-stage game.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, he was described before the match as Brazil's key "invisible man" but by full-time Casemiro was being lauded as the "best midfielder in the world".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Brazil's World Cup match against Switzerland looked to be heading for a dour, goalless draw but the Manchester United player had other ideas. With seven minutes remaining and some fans heading for the exits, Casemiro fired an unstoppable, angled drive into the far corner of the net to leave the remaining supporters roaring in delight and fire his side into the last 16 with a game to spare,” BBC reported.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '16148', 'image' => '20221129104821_20221129_afp_brazilswiss.jpg', 'article_date' => '2022-11-29 10:47:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16406', 'article_category_id' => '1', 'title' => 'Fernandes Double Fires Portugal into World Cup Last 16', 'sub_title' => '', 'summary' => 'November 29: A second-half brace from Bruno Fernandes fired Portugal into the last 16 of the World Cup on Monday as they outclassed Uruguay 2-0 in a scrappy encounter at Lusail Stadium.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 29: A second-half brace from Bruno Fernandes fired Portugal into the last 16 of the World Cup on Monday as they outclassed Uruguay 2-0 in a "scrappy encounter" at Lusail Stadium.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, Portugal reached the knockout stage to join France and Brazil with a match to spare.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">For a Portugal whose World Cup narrative has so far been crafted by the controversy and brilliance of Cristiano Ronaldo, the night belonged to Fernandes, who shone throughout and always looked threatening, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">His first goal set the tone of how the match would play out, with a 55th minute cross intended for Ronaldo that sailed fortuitously into the net, before a perfectly executed spot kick in stoppage time that guaranteed his side's passage to the knockout stage, the news agency added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Ronaldo had celebrated the first goal ecstatically as his own and smiled awkwardly as it was announced as belonging to Fernandes, who twice came close to completing a hat-trick in the dying moments.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the BBC, it was the moment Cristiano Ronaldo thought he had joined Eusebio as Portugal's World Cup record goalscorer - well, for a couple of minutes anyway.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Portuguese forward's jubilant celebrations convinced everyone his head had got the last touch to Bruno Fernandes' cross for the crucial opener in his country's 2-0 win over Uruguay, added the BBC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Not only was it a goal that sent Portugal on their way to qualification for the knockout stages with a game to spare, it was also going to be his ninth World Cup strike - bringing him level with the great Eusebio. But then came the uncertainty. While Ronaldo was clearly convinced it was his goal, the replays were not so conclusive.”</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-29', 'modified' => '2022-11-29', 'keywords' => 'Portugal, Bruno, Fernandez, Ronaldo. Cristiano, Uruguay, World Cup, Brazil, France, knockout, stage, last-16', 'description' => '', 'sortorder' => '16147', 'image' => '20221129103254_skysports-portugal-uruguay_5980922.jpg', 'article_date' => '2022-11-29 10:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16405', 'article_category_id' => '1', 'title' => 'MCC Issues Public Notice for Construction of Transmission Lines ', 'sub_title' => '', 'summary' => 'November 28: The Millennium Challenge Account (MCA) Nepal has issued a specific procurement notice in regard with the construction of electricity transmission lines. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: The Millennium Challenge Account (MCA) Nepal has issued a specific procurement notice in regard with the construction of electricity transmission lines. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has invited sealed bids from all interested and eligible bidders for design, supply, delivery, installation, testing and commissioning of the transmission lines. The project covers Lapsiphedi-Ratmate-New Hetauda 400kV D/C transmission line, Ratmate-New Damauli 400kV D/C transmission line, New Damauli-New Butwal 400kV D/C transmission line and New Butwal-Nepal/India Border 400kV D/C transmission line, according to the notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that bidding will be conducted through the Quality and Price Based Selection (QPBS) procedures as specified in the MCC Program Procurement Guidelines (PPG), and is open to all eligible bidders or consultants as defined in the PPG. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A complete set of bidding documents may be obtained by interested bidders upon the submission of a written application at the following email address MCANepalPA@dt-global.com with cc to MCANepalPA@mcanp.org. The deadline for submitting the sealed documents is March 27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All bids shall be accompanied by a bid security amount of US$ 700,000 for Lot 1, US$ 550,000 for Lot 2 and US$ 675,000 for Lot 3 and if issued by a bank located outside of Nepal, must be confirmed (counter bank guarantee to be issued) by a correspondent financial institution located in Nepal and shall be valid until December 20, 2023, reads the notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the Government of Nepal and the United States of America-based Millennium Challenge Corporation (MCC) entered into a Millennium Challenge Compact on September 14, 2017, under which the US government pledged to provide a grant of up to US$ 500 million to expedite the economic growth and reduce poverty in Nepal to which the Government of Nepal will contribute up to US$ 130 million. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16146', 'image' => '20221128062840_20220228112208_MCC.jpg', 'article_date' => '2022-11-28 18:28:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16404', 'article_category_id' => '1', 'title' => 'Banks Charging High Interest Citing Liquidity Crisis', 'sub_title' => '', 'summary' => 'November 28: Businessmen have accused commercial banks of charging high interest rates under the pretext of lack of investable funds.', 'content' => '<p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">November 28: Businessmen have accused commercial banks of charging high interest rates under the pretext of lack of investable funds. Subodh Kumar Gupta, president of Birgunj Chamber of Commerce and Industry, said that although the base rate and premium rate applicable for the loan were specified when the loan agreement was signed between the bank and the borrower, the banks are now increasing those rates arbitrarily on the pretext of lack of liquidity.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Entrepreneurs claim that the regulatory body, Nepal Rastra Bank, has become a mere spectator towards the malpractice of the banks. According to Anil Agarwal, senior vice president of the chamber, even though NRB has instructed the banks to refund the amount charged by the banks due to the increased premiums, most of the banks have not complied with the NRB instruction.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">He said that the NRB has not taken any effective action on such banks. </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Agarwal stated, “The base rate of banks is reviewed every three months. The premium rate remains the same for the duration of the contract. Banks have increased the premium in an unfair manner.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Traders say that the ultimate burden of such move of the banks fall upon the consumers. Officials of NRB said that even with the borrowers’ consent, the premium cannot be increased throughout the contract period, but it has not been followed by the banks. NRB has instructed banks to return any additional sum acquired in such manner. The businessman says that NRB seems reluctant to take action against the banks for not following its instructions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">According to Madhav Rajpal, vice president of the association, the banks increased the premium rate by 3 to 4 percentage points by putting undue pressure on the borrowers. He informed that the base rate on the new loan has also been increased by the same amount.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">The importers too complained that service charges, loan renewal charges as well as LC charges have been increased arbitrarily, holding lack of liquidity responsible.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif"">Rajpal also informed that the chamber has written a letter to NRB about such malpractice of the banks. Businessmen say that the interest rate on loans taken in the past at 7/8 percent has now been increased to 16/17 percent. As a result, the competitiveness of business and production has decreased.</span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16145', 'image' => '20221128050135_20221116011323_Banks - Copy.jpg', 'article_date' => '2022-11-28 17:01:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16403', 'article_category_id' => '1', 'title' => 'Germany Keep World Cup Hopes Alive as Morocco Stun Belgium', 'sub_title' => '', 'summary' => 'November 28: A late goal by substitute Niclas Fuellkrug allowed Germany to snatch a 1-1 draw with Spain on Sunday as the four-time winners kept their World Cup hopes alive, but Belgium are in danger of a group-stage exit after losing to Morocco.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 28: A late goal by substitute Niclas Fuellkrug allowed Germany to snatch a 1-1 draw with Spain on Sunday as the four-time winners kept their World Cup hopes alive, but Belgium are in danger of a group-stage exit after losing to Morocco.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Elsewhere, 2018 runners-up Croatia crushed Canada 4-1 to eliminate their opponents while Costa Rica claimed a shock win over Japan.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Keysher Fuller's 81st-minute goal for Costa Rica at Doha's Ahmad Bin Ali Stadium in Sunday's early game eased some of the pressure on the Germans as it prevented Japan from taking a giant stride towards the last 16.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Hansi Flick's German side nevertheless desperately needed something from their meeting with 2010 winners Spain at Al Bayt Stadium in Al Khor, north of Doha, after losing 2-1 to Japan in their Group E opener.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yet they were in big trouble when substitute Alvaro Morata turned in Jordi Alba's cross to put Spain ahead just after the hour mark.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">However Germany, who had an Antonio Ruediger goal disallowed for offside in the first half, had a substitute of their own to thank as Werder Bremen striker Fuellkrug lashed in an 83rd-minute leveller on just his third international appearance. (AFP/RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16144', 'image' => '20221128043752_germany-spain-1024x569.jpg', 'article_date' => '2022-11-28 16:37:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16402', 'article_category_id' => '1', 'title' => 'Business Community Urges NRB to Review Working Capital Loan Guidelines', 'sub_title' => '', 'summary' => 'November 28: Private sector stakeholders have urged the central bank not to implement the Working Capital Loan Guidelines 2079 at once but to implement it in a phase-wise manner. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">November 28: Private sector stakeholders have urged the central bank not to implement the Working Capital Loan Guidelines 2079 at once but to implement it in a phase-wise manner. The guidelines have already come into effect since the last two months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) submitted a written memo to Nepal Rastra Bank (NRB) requesting it to implement the guidelines in a phase-wise manner. The central bank officials had earlier said that they would review the guidelines after the November 20 elections to the House of Representatives and provincial assemblies.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan to 20 in case of a company whose annual transaction is less than Rs 20 million. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The businessmen, however, have urged the central bank to provide 40 percent loan for a company with annual transaction of Rs 20 million and 50 percent loan for transaction above that threshold. Also, they have urged the NRB to avail term loans for up to 180 days instead of 90 days. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16143', 'image' => '20221128020539_Working-Capital-Loan.jpg', 'article_date' => '2022-11-28 14:05:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16401', 'article_category_id' => '1', 'title' => 'Gold Price Dips in Int’l Market as Dollar Gains on China COVID Risks', 'sub_title' => 'Gold Price Remains as High as Rs 97.500 Per 11 Grams in Nepal', 'summary' => 'November 28: Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions, Reuters reported.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 28: Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions, Reuters reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, spot gold was down 0.4 percent at US$1,748.84 per ounce, as of 0555 GMT. US gold futures fell 0.3 percent to US$1,749.60.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The dollar index was up 0.4 percent, making the greenback-priced bullion more expensive for buyers holding other currencies, added Reuters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Gold prices have been tracking the US dollar's moves closely, and increased uncertainty from the growing unrest in China seems to be underpinning the dollar this morning," Reuters quoted IG market strategist Yeap Jun Rong as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, hundreds of demonstrators and police clashed in Shanghai on Sunday night as protests over China's stringent COVID restrictions flared for a third day and spread to several cities in the wake of a deadly fire in the country's far west.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">People may be shifting to defensive assets considering the COVID situation in China, but the dollar's gains are currently overshadowing gold's safe-haven status, Yeap added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the price of gold remained as high as Rs 97,500 per tola (11.6 grams approx.) in Nepal, according to the latest update posted on the website of the Federation of Nepal Gold and Silver Dealers Association on Monday. </span></span></p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16142', 'image' => '20221128012712_gold.jpg', 'article_date' => '2022-11-28 13:26:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16400', 'article_category_id' => '1', 'title' => 'Over 60 Former MPs defeated in Election ', 'sub_title' => '', 'summary' => 'November 28: More than 60 former members of parliament (MPs) who contested the November 20 election have faced defeats. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 28: More than 60 former members of parliament (MPs) who contested the November 20 election have faced defeats. Those defeated also include party chair, vice-chair, general secretary, former chief minister of the province and other top leaders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the election, former prime minister and senior leader of CPN (Unified Socialist) Jhala Nath Khanal, Chairman of Janata Samajwadi Party Nepal Upendra Yadav, senior leader of Loktantrik Samajwadi Party Rajendra Mahato, CPN (UML) senior-vice chairman Ishwar Pokharel, vice-chairman Surendra Pandey, general secretary Shanker Pokharel, assistant general secretary Pradip Kumar Gyawali were defeated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, general secretary of CPN (Maoist Centre) Dev Prasad Gurung, assistant general secretary duo Giriraj Mani Pokharel and Pampha Bhusal also faced defeat while former chief minister of Province 1 and UML leader Sher Dhan Rai is also among the leaders staying out of the legislative body. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former speaker of the House of Representatives Onsari Gharti, former deputy speaker Pushpa Bhsual, vice-chairperson of Rastriya Janamorcha Durga Poudel, Home Minister Bal Krishna Khand, NC assistant general secretary Uma Kanta Chaudhary and other leaders also could not make it to the HoR. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The other former MPs who lost the election include Matrika Prasad Yadav, Mohammad Istiyak Rai, Yagya Raj Sunuwar, Rajendra Prasad Gautam, Rajendra Prasad Shrestha, Ram Kumari Jhankri, Hridayesh Tripathi and Rambir Manandhar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, this election remained a tough nut to crack for the politicians like Laxman Lal Karn, Lal Babu Pandit, Sujata Koirala, Lekhraj Bhatta, Bijaya Kumar Gachchhadar, Bina Magar, Birodh Khatiwada, Som Prasad Pandey, Sher Bahadur Tamang, Bijaya Subba, Bishal Bhattarai, Surya Prasad Pathak, Komal Oli, Kamal Thapa, Jeevan Ram Shrestha, Maheshwar Jung Gahatraj, Krishna Sitaula and Umesh Shrestha. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2022-11-28', 'modified' => '2022-11-28', 'keywords' => '', 'description' => '', 'sortorder' => '16141', 'image' => '20221128010311_JNK (Copy).jpg', 'article_date' => '2022-11-28 13:01:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
