October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October…
October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October…
October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant…
October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly…
October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and…
October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival.…
October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan…
October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the…
October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange…
October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn…
October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of…
October 17: Nepal's urban population has reached 66.08 percent.…
October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is…
October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50…
October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment…
October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time…
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There is a provision that any company seeking broker’s license from the Securities Board of Nepal (SEBON) must first get recommendation from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of October 16, a total of 20 companies have submitted applications with the board seeking brokers’ license. The board has not updated any details after that. The last date for submitting application for the license was October 17.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Murahari Parajuli, information officer of NEPSE, most of the 45 companies that received recommendations are eligible for first-level broker services based on the capital structure set by the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Parajuli, three companies have received recommendations for the second-level broker license with full scope and only one company for the third-level stock dealer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Parajuli informed that Nabil Securities, a subsidiary company of Nabil Bank, has received recommendation from NEPSE for the third-level stock dealer license.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Parajuli said Mega Stock Market, Century Securities and Himalayan Securities have received recommendations for the second-level license with full scope.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications for to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The deadline to submit application for broker license was 30 days while the deadline for stock exchanges and commodity exchanges was of 45 days.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15914', 'image' => '20221018050531_nepse-live-shareprice.jpg', 'article_date' => '2022-10-18 17:04:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16172', 'article_category_id' => '1', 'title' => 'Jumla Facing Shortage of Cooking Gas, Petroleum Products ', 'sub_title' => '', 'summary' => 'October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumers have been facing difficulties in lack of sufficient amount of cooking gas and petroleum products in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Chief District Officer, Pramila Rijal, said shortage of petroleum products has been seen in the market following disruption of Karnali Highway. A team headed by Deputy Mayor of Chandannath Municipality, Ram Devi Khadka, and Assistant Chief District Officer, Rijal, had carried out monitoring of groceries and dealers of petroleum products after receiving complaints of black marketing in the name of road disruption. In course of market monitoring, shortage of petroleum products was found at the district headquarters. </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"">Rijal shared that the stock of food stuffs and edible oil in the market is enough for around two months. The team had carried out monitoring of 10 shops. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Road Division Office, Jumla, efforts are underway to resume the road as soon as possible. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15913', 'image' => '20221018042318_jumla.jpg', 'article_date' => '2022-10-18 16:22:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16171', 'article_category_id' => '1', 'title' => 'Clear Sky Observed with the Retreat of Monsoon, Temperature Expected to Decline ', 'sub_title' => '', 'summary' => 'October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Weather Forecasting Division, Hira Bhattarai, informed that temperature has been decreasing for some days in the country. The westerly wind is getting active. </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"">"Generally as the monsoon retreats, westerly wind becomes active. So, we are likely to have light rainfall in the hill areas of Sudurpaschim, Karnali and Lumbini provinces today and tomorrow," added Bhattarai. </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 westerly wind also brings cold. The country would see rising cold in the days ahead. This year, the monsoon exited from the provinces of Sudurpaschim, Karnali, Lumbini, Gandaki and Madhes last Saturday while it exited from Province-1 on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the retreat of monsoon, the weather has become clear across the country for some days. The minimum temperature of Kathmandu was recorded at 12 degrees Celsius today while maximum temperature was 26 degrees. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15912', 'image' => '20221018041000_PL_Banepa.jpg', 'article_date' => '2022-10-18 14:01:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16170', 'article_category_id' => '1', 'title' => 'Stakeholders in Favour of Promoting Innovation in Local Governance', 'sub_title' => '', 'summary' => 'October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The programme was organized by the research institution with the theme “Promoting Innovation in Local Governance for Inclusive Economic Development of Nepal”. The objective of the symposium was to share innovative practices of local governments, to discuss ways to bolster the local governance system and to strengthen the networking among stakeholders working in public policy and governance, the organisers said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the first day of the symposium, 11 municipalities from six provinces shared their public innovations. Not only this, they also put forth the key lessons learned from those innovations as well as the dimension of opportunities opened up for them to effectively scale up. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the second day, national stakeholders deliberated on ways to institutionalize the learning from the discussions of the first day and scale up policy impact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second day of the symposium also featured a seminar on “Building Gender Sensitivity in Government Institutions” with various dialogue sessions. During the sessions, international experts and scholars like Prof Soledad Prillaman, assistant professor of political science at Stanford University and Prof Ben Berger, associate professor of political science and executive director of Lang Center for Civic and Social Responsibility at Swarthmore College joined virtually as keynote speakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The symposium concluded that measures of bringing change to elevate the economic status of Nepal can be achieved through the policy level. Furthermore, the chairperson of Governance Lab, Dr Pukar Malla unveiled the Declaration for Collective Action at the end of the symposium. The declaration highlights “Inclusion, Innovation, Local Governance and Economic Development” as the four core commitment areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the pogramme, Kalyan Shrestha, former chief justice of the Supreme Court of Nepal said, “Development without inclusiveness will not bring peace but crisis. Our development plans and policies have not been able to incorporate inclusiveness so far. Therefore, it is very important that we create a common vision about inclusive development in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Swarnim Wagle, former vice- chairperson of the National Planning Commission, complained that federalism failed due to the heavily divided public and political opinion which hindered the local government as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, speaking at the programme, Krishna Gyawali, former secretary of the Government of Nepal highlighted the importance of good governance for the success of federalism.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15911', 'image' => '20221018123159_NGS 2022 Group Pic.JPEG', 'article_date' => '2022-10-18 12:31:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16169', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 8.18 Billion after Dashain', 'sub_title' => '', 'summary' => 'October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. The Nepal Bankers Association informed that the money withdrawn from the banks before Dashain have started returning back to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, between October 1 and 7, deposits of commercial banks had decreased by Rs 7.99 billion and stood at Rs 4510 billion. However, bank deposits increased again to Rs 4519 billion between October 8 to 14. The deposits of commercial banks increased by Rs 8.18 billion in the review week. During the same period, credit flow of banks increased by just Rs 62 million. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, the loan disbursement of banks increased from Rs 41926 billion to Rs 4193.2 billion as of October 14. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) had exchanged new notes for old ones worth Rs 16 billion for Dashain. Apart from this, new notes worth Rs 40 billion were sent to the market, according to a statement issued by NRB. The central bank says that the cash that went to the market will gradually return to the banking system through deposits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On October 14, the average credit-to-deposit (CD) ratio of banks stood at 86.96 percent. According to the instructions of the NRB, banks should maintain the CD ratio within 90 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15910', 'image' => '20221018112851_Banks - Copy.jpg', 'article_date' => '2022-10-18 11:28:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16168', 'article_category_id' => '1', 'title' => 'Govt Declares Public Holiday Today to Mourn the Demise of Centenarian Joshi ', 'sub_title' => '', 'summary' => 'October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the Ministry of Home Affairs stated that the government has decided to give a public holiday across the country on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement issued by the ministry’s spokesperson Phanindra Mani Pokharel reads that the government has also decided to raise the national flag at half-mast on Tuesday at all government offices, public organisations across the nation and at diplomatic missions abroad to mourn the passing away of cultural expert Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi passed away on Sunday at the age of 103. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15909', 'image' => '20221018102653_D6aANBrUYAEKz_7.jpg', 'article_date' => '2022-10-18 10:26:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16167', 'article_category_id' => '1', 'title' => 'Dengue Spreads all Over the Country ', 'sub_title' => 'Mountainous Districts of Karnali Province see Dengue Cases due to Climate Change ', 'summary' => 'October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across 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"">October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. </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"">A total of 40,029 people have been infected since the last outbreak in July, according to the ministry. </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 ministry said it has expedited efforts to prevent and control dengue infection as well as to treat the infected ones. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Impact of Climate Change</span></strong></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"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Province Health Service Directorate, Surkhet, a total of 40 dengue patients have been detected in Humla, Jumla, Mugu and Dolpa this year by the time this report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue Control Source Person and vector control officer of the Directorate, Shyam Lal Acharya, said mountainous region is becoming favourable for lifecycle of mosquito. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Mosquito larva were found in Khatyang of Mugu two years ago and dengue patients were also detected. Cases of dengue has started increasing here after mountainous region is becoming favourable for life cycle of mosquito," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A dengue patient was found in Humla, nine in Dolpa, eight in Mugu and 22 in Jumla this time, according to the directorate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior physician of Province Hospital, Dr KN Poudel, pointed out that climate change is the main reason behind the dengue cases in mountainous region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October. There are now 441 dengue patients in Karnali Province. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15908', 'image' => '20221017062819_Aedes-species-mosquito-transmitter-of-dengue.jpg', 'article_date' => '2022-10-17 18:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16166', 'article_category_id' => '1', 'title' => 'Election Commission Seeks Clarification from SEBON Regarding Application for New Licenses', 'sub_title' => '', 'summary' => 'October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission has asked for clarification from SEBON within three days regarding why it went against the Election Code of Conduct 2079. The commission had instructed all government bodies not to issue new license during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission clarified that the Election Code of Conduct has a provision which clearly mentions all concerned bodies not to conduct any new programme or to announce, approve or operate new policies, plans and programmes other than those approved in the annual budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board is ready to submit an explanation to the Election Commission regarding its move. Tej Prasad Devkota, information officer of the board, informed that the board will submit an explanation to the Election Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board argued that seeking application for the license is not against the code of conduct as it was done before the election code of conduct came into force.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Devkota, 20 companies have applied for broker license as of 5 pm, Sunday. Devkota also informed us that no application has been received for stock exchange and commodity exchange companies. There is a provision to take the recommendation of the Nepal Stock Exchange Limited (NEPSE) before applying for a new broker license with the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Information officer of NEPSE, Murahari Parajuli informed that although only 20 companies have applied for broker licenses with the board till Sunday, 32 companies have received recommendations from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had announced application for three types of broker licenses on September 18. On the other hand, the EC had enforced the Election Code of Conduct on September 28.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board has sought applications for a new stock exchange company, two commodity exchange markets and an undisclosed number of securities broker licenses. Based on the notification issued by the board, the last day to apply for the broker license is October 17. SEBON has set an application deadline of 45 days ending on November 1, for the new stock exchange company and commodity exchange markets. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SEBON has set a paid-up capital of Rs 3 billion for new stock exchanges and a minimum of Rs 200 million to a maximum of Rs 1.5 billion for new brokers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new broker licenses to be distributed by the board will be of three types. Based on the capital structure, the board will distribute three types of broker licenses to provide different services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the capital structure, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the provisions of the Commodity Exchange Market Act, of 2074, the minimum paid-up capital for the operation of the commodity market shall be as determined by the board and must not be less than Rs 50 million,.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15907', 'image' => '20221017042922_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-17 16:28:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16165', 'article_category_id' => '1', 'title' => 'Inflow of Tourists in Rising in Langtang National Park', 'sub_title' => '', 'summary' => 'October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an average, 50 tourists are turning up daily for trekking in the mountainous route of Rasuwa. The arrival of tourists in the district had taken a nosedive with the onset of Covid-19 pandemic and the situation remained adverse for a long time.</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"">However, the hotel and lodge business which was hit hard by the pandemic is gradually bouncing back. With the rise in the influx of tourists, the tourism entrepreneurs have become optimistic about the revival of tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest update from Langtang National Park, inflow of tourists, especially women, has increased remarkably at Gosainkunda and Langtang areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 13,084 domestic and foreign tourists who visited the district from mid-July to mid-October this year, 2,846 were women, the records revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the female tourists, 2,297 were domestic and 549 foreigners, informed Forest Technician of the Park, Nitendra Singh. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trekkers reach Gosainkunda through Sundarijal-Helambu trekking route and Dhunche-Chandanbari trekking route and then trek to Kyangjen of Langtang from Cholangpati through Thulosyafru. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As shared by the park officials, 11,758 Nepalis and 1,326 foreigners had entered the park premises from mid-July to mid-October this year to enjoy the scenic beauty of the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the national park sources, a total of 1,259 tourists from the United States, Germany, Japan, Korea and Australia and others had entered the national park while the number of tourists from SAARC region was only 67. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15906', 'image' => '20221017022549_20220424110255_Tourist Arrival (1).jpeg', 'article_date' => '2022-10-17 14:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16164', 'article_category_id' => '1', 'title' => 'Government to Provide 8 Percent Subsidy for Exports above Rs 500 Million', 'sub_title' => '', 'summary' => 'October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods. The Ministry of Industry, Commerce and Supplies has implemented the Export Subsidy Procedure 2079 in order to provide subsidy up to 8 percent on exports as per the provision in the budget of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new procedure has provision to provide 8 percent cash subsidy to a company which exports goods worth more than Rs 500 million in a year. However, the cash subsidy will be provided on the basis of the amount that exceeds the threshold of Rs 500 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2018, the ministry made a list of 26 items that are entitled to receive export subsidies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After amending the procedure, clinker, cement, steel, coal, resins and turpentine, plywood, tiger grass, fruits and dairy products (milk, cheese, cottage cheese, hardened cheese and fat) have been included in the list.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry will provide 5 percent subsidy for the export of handicraft products, processed and unprocessed herbs, turmeric, fresh vegetables, flowers, cardamom, ginger. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Likewise, the government will give 4 percent cash subsidy for the export of clinker, cement, steel, resin and turpentine, plywood, tiger grass, fruit and dairy products (milk, cheese, cottage cheese, hard cheese and fat), and pashmina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy for this group was increased to 4 percent from 3 percent</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the procedure, the subsidy received by the exporter should be spent in the field of international market promotion, technology and capacity development, and e-commerce. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy will be increased by 1 percentage point if the goods exported from Nepal are exported with a collective trademark. If the export shows 20 percent increase as compared to previous year, another 1 percentage point will be added to the subsidy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15905', 'image' => '20221017021023_export.jpg', 'article_date' => '2022-10-17 14:09:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16163', 'article_category_id' => '1', 'title' => 'Urban Population on the Rise ', 'sub_title' => '', 'summary' => 'October 17: Nepal's urban population has reached 66.08 percent. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Nepal's urban population has reached 66.08 percent. As per the preliminary data of the National Census, 2078, the size of urban population has increased in comparison to the earlier Census held ten years ago, shared Joint-Secretary at the Ministry of Urban Development Ram Chandra Dangal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The urban population was 63.19 percent and rural population 36.81 percent during the National Census of 2068 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Cities Report, 2022 published by UN Habitat this month, the urbanization process was found rapidly increasing in developed countries. Almost 79 percent population reside in urban areas in such countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">If the same growth continues, the urban population is projected to reach 87 percent in advanced countries. The report has also projected the population growth rate of 0.46 percent in developed countries from 2020 to 2025. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was made public on the occasion of the World Habitat Day which is marked on the first Monday of October at the call of the UN Habitat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, World Habitat Day (WHD 2022) under the theme "Mind the Gap. Leave No One and Place Behind" looks at the problem of growing inequality and challenges in cities and human settlements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Habitat Day 2022 seeks to draw the attention towards the growing inequalities and vulnerabilities that have been exacerbated by the triple ‘C’ crises — COVID-19, climate and conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The United Nations (UN) had started observing the day on the first Monday of October since 1986. Nepal has also started marking the day since 2001. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year, Nepal is observing the World Habitat Day on October 17 by organizing several programmes with the theme 'Necessity of inclusive urban settlement: shared commitment of all". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the eighth day of Dashain festival coincided with the first Monday of October, the ministry decided to mark the day on third Monday of October, the ministry sources said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15904', 'image' => '20221017125636_Kathmandu land.jpg', 'article_date' => '2022-10-17 12:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16162', 'article_category_id' => '1', 'title' => 'CAAN Bans Paragliding Across the Country ', 'sub_title' => '', 'summary' => 'October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN said that the ban has been imposed in the wake of growing cases of paragliding accidents in the country. </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"">CAAN Deputy Director General and Spokesperson Jagannath Niraula told the the state-owned national news agency RSS on Sunday that paragliding has been suspended until another provision is put in place to further strengthening its security system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN decided to ban paragliding flights for the time being so as to manage policies, rules and laws relating to paragliding flight. The aviation governing body would permit the flights after clear laws are devised, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sportsperson Nisim Thapa, 26, died in a paragliding crash at Sarangkot, Pokhara on Sunday. He was competing in the cross-country event of paragliding during the 9th National Games underway in Pokhara when the craft owned by Blue Sky Company suddenly fell off some 700 metre from the sky to the ground.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa sustained injuries and later succumbed to death.</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15903', 'image' => '20221017115935_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-17 11:57:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16161', 'article_category_id' => '1', 'title' => 'Business of Decorative Lights Expected to Shrink by 50 Percent during Tihar', 'sub_title' => '', 'summary' => 'October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Federation of Electrical Entrepreneurs of Nepal, the business of decorative lights may slump due to the strict policy adopted by the government for the import of such items and the impact of global recession.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the federation, every year during the Tihar and Chhath festivals, the business of decorative lights amounts to almost Rs 40 million. However, this year, this amount may drop to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During Tihar and Chhath, the business of other kinds of lights also increases by 10 to 15 percent compared to normal times.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that the trend of changing old and worn out lights and moving to new houses also increase during this festival, so the business also increases during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation complains that, traders are not able to import goods after Nepal Rastra Bank imposed a 100 percent cash margin to open LC for the import of electronic goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudarshan Paudel, president of the federation, said that even small quantities of ordered goods could not enter Nepal due to the closure of both the northern border ckeckpoints (Tatopani and Rasuwagadhi).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the data of the Department of Customs, in the first two months of the current fiscal year, electrical equipment worth Rs 49.50 million entered Nepal, but the amount of bulbs and lights intended for the festivals is yet to be ascertained.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> In Nepal, 55 percent of decorative lights are imported from China and 15 percent from India. As soon as the festival of Dashain is over, people light up their homes, offices, commercial complexes and other places with different colored lights. So, the demand for such lights is high during Tihar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation added that the price of such items also increased this year due to the increase in the value of the US dollar. Recently, the price of the dollar has been on a continuous rise and reached around Rs 132, making the price of electronic materials increase by 20 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“On the one hand, due to fluctuations in the economy, the purchasing power of consumers has decreased, while on the other hand, the price of goods in the market has increased. Due to this, the presence of consumers in the market during Tihar this year is not encouraging. Therefore, the demand for such items seems to decrease automatically,” Paudel said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15902', 'image' => '20221016045321_1665898139.jpg', 'article_date' => '2022-10-16 16:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16160', 'article_category_id' => '1', 'title' => 'Government Fixes Rs 20 Million as Minimum Requirement for FDI', 'sub_title' => '', 'summary' => 'October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI). The government had made such arrangement in the budget for the current fiscal year. The government has reduced the minimum limit required for foreign investment with the objective of increasing investment in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent meeting of the Council of Ministers decided to fix the minimum requirement of FDI per foreigner at Rs 20 million in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the minimum limit for foreign investment was Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the government had raised the minimum limit for foreign investment from Rs 5 million to Rs 50 million in the budget three years ago in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075 BS. Now the minimum limit has been set at Rs 20 million, as per the budget announcement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Finance had presented the proposal to fix the new limit in accordance with the budget announcement to the Council of Ministers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Government Spokesperson Gyanendra Bahadur Karki informed that the minimum limit of FDI has been fixed as per the announcement made in the budget. However, the government has not fixed the ceiling for the maximum FDI in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to foreign investment experts, although the reduction of the minimum limit is positive, it is not possible to attract large investments immediately. It is expected to boost small and medium scale industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the government has been reducing the minimum limit required for FDI time and again, it has failed to attract foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Anjan Neupane, an expert on foreign investment, there is a possibility of additional investment in the IT, tourism, and service sector following the government’s decision to lower the minimum limit. He says the threshold is still too high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, it is not yet easy to attract investment in Nepal. Foreign investors have to face the obstacles on every step that starts after pouring their investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Department of Industry has a one-door system. NRB has two employees. That’s all. The old problems are still there,” said Neupane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Neupane, no procedural reforms have been made in the bodies that deal with foreign investors such as the Department of Industry, the Office of the Registrar of Companies, and the Immigration Department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors are well aware that the obstacles in investment approval, company registration, visa permission, business establishment, and operation have not been solved yet. According to Neupane, more than two dozen agencies, including half a dozen ministries, are still needed to take the project to the construction stage. The one-door system is just for the sake of name.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-September this year, Nepal received investment commitment of Rs 419 billion from 55 countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15901', 'image' => '20221016045201_20220624051313_Foreign investment.jpg', 'article_date' => '2022-10-16 16:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16159', 'article_category_id' => '1', 'title' => 'India Delays Shifting Dusty Cargo to ICP', 'sub_title' => '', 'summary' => 'October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being. The latest notification has given some relief to the importers who were worried after the Indian customs issued a notification that all imports and exports passing through this point will be transferred to ICP from this Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Northern Department of the Ministry of External Affairs of India issued a notice on Friday informing that the decision to completely stop the import and export of dusty cargo through the old border point has been postponed for the time being. The department said that the previous decision will not be implemented until January 1. However, importers are still confused about what will happen after January 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India said that the decision to shift the checkpoint for the import and export of dusty cargo by one and a half months was taken upon the request of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had made such request through the Indian Embassy in Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Vice President of Birgunj Chamber of Industry and Commerce, Madhav Rajpal said that the importers of Birgunj had requested the government to take initiative saying that the necessary infrastructure has not been prepared to move the entire dusty cargo to the ICP.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Earlier, India's Raxaul Customs had issued a notice stating that the import and export of dusty cargo will take place from the ICP from July 1. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal said that the main problem is the narrow road connecting the Raxaul Railway and the ICP. He argued that because the road is narrow, it is not possible to transport 300 to 400 trucks a day.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has also mentioned in its notification that the decision has been postponed for the time being as the infrastructure is not ready.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the ICP has been fully operational, the Indian side has been pressing to shift all the import and export of the Birgunj-Raxaul border to the ICP. Even after four years of operating the ICP, dusty cargo like coal, iron ore, slag and some quantity of industrial raw materials including iron billet, and iron roll are still entering through the old Raxaul-Birgunj route. Salt and fertilizer are also unloaded in Raxaul and imported into Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of a suitable place for dusty cargo management on the Nepal side, there is no other alternative to the Raxaul-Birgunj route. Previously, the supply of dusty cargo was disrupted due to protests by the local residents of Raxaul.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Loading and unloading of clinker was stopped there five years ago due to the obstruction of the locals of Raxaul. At that time, a team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, suggested that such cargo could be managed at three locations in Birgunj.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since then, Indian customs has repeatedly given ultimatums to remove the dusty cargo from there but to no avail.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15900', 'image' => '20221016040138_1665863484.Clipboard01.jpg', 'article_date' => '2022-10-16 16:00:48', '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' => '16173', 'article_category_id' => '1', 'title' => 'NEPSE Recommends Broker License for 45 Companies', 'sub_title' => '', 'summary' => 'October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17. There is a provision that any company seeking broker’s license from the Securities Board of Nepal (SEBON) must first get recommendation from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of October 16, a total of 20 companies have submitted applications with the board seeking brokers’ license. The board has not updated any details after that. The last date for submitting application for the license was October 17.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Murahari Parajuli, information officer of NEPSE, most of the 45 companies that received recommendations are eligible for first-level broker services based on the capital structure set by the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Parajuli, three companies have received recommendations for the second-level broker license with full scope and only one company for the third-level stock dealer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Parajuli informed that Nabil Securities, a subsidiary company of Nabil Bank, has received recommendation from NEPSE for the third-level stock dealer license.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Parajuli said Mega Stock Market, Century Securities and Himalayan Securities have received recommendations for the second-level license with full scope.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications for to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The deadline to submit application for broker license was 30 days while the deadline for stock exchanges and commodity exchanges was of 45 days.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15914', 'image' => '20221018050531_nepse-live-shareprice.jpg', 'article_date' => '2022-10-18 17:04:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16172', 'article_category_id' => '1', 'title' => 'Jumla Facing Shortage of Cooking Gas, Petroleum Products ', 'sub_title' => '', 'summary' => 'October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumers have been facing difficulties in lack of sufficient amount of cooking gas and petroleum products in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Chief District Officer, Pramila Rijal, said shortage of petroleum products has been seen in the market following disruption of Karnali Highway. A team headed by Deputy Mayor of Chandannath Municipality, Ram Devi Khadka, and Assistant Chief District Officer, Rijal, had carried out monitoring of groceries and dealers of petroleum products after receiving complaints of black marketing in the name of road disruption. In course of market monitoring, shortage of petroleum products was found at the district headquarters. </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"">Rijal shared that the stock of food stuffs and edible oil in the market is enough for around two months. The team had carried out monitoring of 10 shops. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Road Division Office, Jumla, efforts are underway to resume the road as soon as possible. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15913', 'image' => '20221018042318_jumla.jpg', 'article_date' => '2022-10-18 16:22:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16171', 'article_category_id' => '1', 'title' => 'Clear Sky Observed with the Retreat of Monsoon, Temperature Expected to Decline ', 'sub_title' => '', 'summary' => 'October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Weather Forecasting Division, Hira Bhattarai, informed that temperature has been decreasing for some days in the country. The westerly wind is getting active. </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"">"Generally as the monsoon retreats, westerly wind becomes active. So, we are likely to have light rainfall in the hill areas of Sudurpaschim, Karnali and Lumbini provinces today and tomorrow," added Bhattarai. </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 westerly wind also brings cold. The country would see rising cold in the days ahead. This year, the monsoon exited from the provinces of Sudurpaschim, Karnali, Lumbini, Gandaki and Madhes last Saturday while it exited from Province-1 on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the retreat of monsoon, the weather has become clear across the country for some days. The minimum temperature of Kathmandu was recorded at 12 degrees Celsius today while maximum temperature was 26 degrees. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15912', 'image' => '20221018041000_PL_Banepa.jpg', 'article_date' => '2022-10-18 14:01:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16170', 'article_category_id' => '1', 'title' => 'Stakeholders in Favour of Promoting Innovation in Local Governance', 'sub_title' => '', 'summary' => 'October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The programme was organized by the research institution with the theme “Promoting Innovation in Local Governance for Inclusive Economic Development of Nepal”. The objective of the symposium was to share innovative practices of local governments, to discuss ways to bolster the local governance system and to strengthen the networking among stakeholders working in public policy and governance, the organisers said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the first day of the symposium, 11 municipalities from six provinces shared their public innovations. Not only this, they also put forth the key lessons learned from those innovations as well as the dimension of opportunities opened up for them to effectively scale up. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the second day, national stakeholders deliberated on ways to institutionalize the learning from the discussions of the first day and scale up policy impact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second day of the symposium also featured a seminar on “Building Gender Sensitivity in Government Institutions” with various dialogue sessions. During the sessions, international experts and scholars like Prof Soledad Prillaman, assistant professor of political science at Stanford University and Prof Ben Berger, associate professor of political science and executive director of Lang Center for Civic and Social Responsibility at Swarthmore College joined virtually as keynote speakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The symposium concluded that measures of bringing change to elevate the economic status of Nepal can be achieved through the policy level. Furthermore, the chairperson of Governance Lab, Dr Pukar Malla unveiled the Declaration for Collective Action at the end of the symposium. The declaration highlights “Inclusion, Innovation, Local Governance and Economic Development” as the four core commitment areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the pogramme, Kalyan Shrestha, former chief justice of the Supreme Court of Nepal said, “Development without inclusiveness will not bring peace but crisis. Our development plans and policies have not been able to incorporate inclusiveness so far. Therefore, it is very important that we create a common vision about inclusive development in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Swarnim Wagle, former vice- chairperson of the National Planning Commission, complained that federalism failed due to the heavily divided public and political opinion which hindered the local government as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, speaking at the programme, Krishna Gyawali, former secretary of the Government of Nepal highlighted the importance of good governance for the success of federalism.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15911', 'image' => '20221018123159_NGS 2022 Group Pic.JPEG', 'article_date' => '2022-10-18 12:31:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16169', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 8.18 Billion after Dashain', 'sub_title' => '', 'summary' => 'October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. The Nepal Bankers Association informed that the money withdrawn from the banks before Dashain have started returning back to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, between October 1 and 7, deposits of commercial banks had decreased by Rs 7.99 billion and stood at Rs 4510 billion. However, bank deposits increased again to Rs 4519 billion between October 8 to 14. The deposits of commercial banks increased by Rs 8.18 billion in the review week. During the same period, credit flow of banks increased by just Rs 62 million. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, the loan disbursement of banks increased from Rs 41926 billion to Rs 4193.2 billion as of October 14. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) had exchanged new notes for old ones worth Rs 16 billion for Dashain. Apart from this, new notes worth Rs 40 billion were sent to the market, according to a statement issued by NRB. The central bank says that the cash that went to the market will gradually return to the banking system through deposits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On October 14, the average credit-to-deposit (CD) ratio of banks stood at 86.96 percent. According to the instructions of the NRB, banks should maintain the CD ratio within 90 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15910', 'image' => '20221018112851_Banks - Copy.jpg', 'article_date' => '2022-10-18 11:28:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16168', 'article_category_id' => '1', 'title' => 'Govt Declares Public Holiday Today to Mourn the Demise of Centenarian Joshi ', 'sub_title' => '', 'summary' => 'October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the Ministry of Home Affairs stated that the government has decided to give a public holiday across the country on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement issued by the ministry’s spokesperson Phanindra Mani Pokharel reads that the government has also decided to raise the national flag at half-mast on Tuesday at all government offices, public organisations across the nation and at diplomatic missions abroad to mourn the passing away of cultural expert Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi passed away on Sunday at the age of 103. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15909', 'image' => '20221018102653_D6aANBrUYAEKz_7.jpg', 'article_date' => '2022-10-18 10:26:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16167', 'article_category_id' => '1', 'title' => 'Dengue Spreads all Over the Country ', 'sub_title' => 'Mountainous Districts of Karnali Province see Dengue Cases due to Climate Change ', 'summary' => 'October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across 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"">October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. </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"">A total of 40,029 people have been infected since the last outbreak in July, according to the ministry. </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 ministry said it has expedited efforts to prevent and control dengue infection as well as to treat the infected ones. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Impact of Climate Change</span></strong></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"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Province Health Service Directorate, Surkhet, a total of 40 dengue patients have been detected in Humla, Jumla, Mugu and Dolpa this year by the time this report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue Control Source Person and vector control officer of the Directorate, Shyam Lal Acharya, said mountainous region is becoming favourable for lifecycle of mosquito. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Mosquito larva were found in Khatyang of Mugu two years ago and dengue patients were also detected. Cases of dengue has started increasing here after mountainous region is becoming favourable for life cycle of mosquito," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A dengue patient was found in Humla, nine in Dolpa, eight in Mugu and 22 in Jumla this time, according to the directorate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior physician of Province Hospital, Dr KN Poudel, pointed out that climate change is the main reason behind the dengue cases in mountainous region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October. There are now 441 dengue patients in Karnali Province. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15908', 'image' => '20221017062819_Aedes-species-mosquito-transmitter-of-dengue.jpg', 'article_date' => '2022-10-17 18:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16166', 'article_category_id' => '1', 'title' => 'Election Commission Seeks Clarification from SEBON Regarding Application for New Licenses', 'sub_title' => '', 'summary' => 'October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission has asked for clarification from SEBON within three days regarding why it went against the Election Code of Conduct 2079. The commission had instructed all government bodies not to issue new license during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission clarified that the Election Code of Conduct has a provision which clearly mentions all concerned bodies not to conduct any new programme or to announce, approve or operate new policies, plans and programmes other than those approved in the annual budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board is ready to submit an explanation to the Election Commission regarding its move. Tej Prasad Devkota, information officer of the board, informed that the board will submit an explanation to the Election Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board argued that seeking application for the license is not against the code of conduct as it was done before the election code of conduct came into force.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Devkota, 20 companies have applied for broker license as of 5 pm, Sunday. Devkota also informed us that no application has been received for stock exchange and commodity exchange companies. There is a provision to take the recommendation of the Nepal Stock Exchange Limited (NEPSE) before applying for a new broker license with the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Information officer of NEPSE, Murahari Parajuli informed that although only 20 companies have applied for broker licenses with the board till Sunday, 32 companies have received recommendations from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had announced application for three types of broker licenses on September 18. On the other hand, the EC had enforced the Election Code of Conduct on September 28.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board has sought applications for a new stock exchange company, two commodity exchange markets and an undisclosed number of securities broker licenses. Based on the notification issued by the board, the last day to apply for the broker license is October 17. SEBON has set an application deadline of 45 days ending on November 1, for the new stock exchange company and commodity exchange markets. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SEBON has set a paid-up capital of Rs 3 billion for new stock exchanges and a minimum of Rs 200 million to a maximum of Rs 1.5 billion for new brokers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new broker licenses to be distributed by the board will be of three types. Based on the capital structure, the board will distribute three types of broker licenses to provide different services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the capital structure, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the provisions of the Commodity Exchange Market Act, of 2074, the minimum paid-up capital for the operation of the commodity market shall be as determined by the board and must not be less than Rs 50 million,.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15907', 'image' => '20221017042922_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-17 16:28:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16165', 'article_category_id' => '1', 'title' => 'Inflow of Tourists in Rising in Langtang National Park', 'sub_title' => '', 'summary' => 'October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an average, 50 tourists are turning up daily for trekking in the mountainous route of Rasuwa. The arrival of tourists in the district had taken a nosedive with the onset of Covid-19 pandemic and the situation remained adverse for a long time.</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"">However, the hotel and lodge business which was hit hard by the pandemic is gradually bouncing back. With the rise in the influx of tourists, the tourism entrepreneurs have become optimistic about the revival of tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest update from Langtang National Park, inflow of tourists, especially women, has increased remarkably at Gosainkunda and Langtang areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 13,084 domestic and foreign tourists who visited the district from mid-July to mid-October this year, 2,846 were women, the records revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the female tourists, 2,297 were domestic and 549 foreigners, informed Forest Technician of the Park, Nitendra Singh. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trekkers reach Gosainkunda through Sundarijal-Helambu trekking route and Dhunche-Chandanbari trekking route and then trek to Kyangjen of Langtang from Cholangpati through Thulosyafru. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As shared by the park officials, 11,758 Nepalis and 1,326 foreigners had entered the park premises from mid-July to mid-October this year to enjoy the scenic beauty of the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the national park sources, a total of 1,259 tourists from the United States, Germany, Japan, Korea and Australia and others had entered the national park while the number of tourists from SAARC region was only 67. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15906', 'image' => '20221017022549_20220424110255_Tourist Arrival (1).jpeg', 'article_date' => '2022-10-17 14:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16164', 'article_category_id' => '1', 'title' => 'Government to Provide 8 Percent Subsidy for Exports above Rs 500 Million', 'sub_title' => '', 'summary' => 'October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods. The Ministry of Industry, Commerce and Supplies has implemented the Export Subsidy Procedure 2079 in order to provide subsidy up to 8 percent on exports as per the provision in the budget of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new procedure has provision to provide 8 percent cash subsidy to a company which exports goods worth more than Rs 500 million in a year. However, the cash subsidy will be provided on the basis of the amount that exceeds the threshold of Rs 500 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2018, the ministry made a list of 26 items that are entitled to receive export subsidies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After amending the procedure, clinker, cement, steel, coal, resins and turpentine, plywood, tiger grass, fruits and dairy products (milk, cheese, cottage cheese, hardened cheese and fat) have been included in the list.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry will provide 5 percent subsidy for the export of handicraft products, processed and unprocessed herbs, turmeric, fresh vegetables, flowers, cardamom, ginger. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Likewise, the government will give 4 percent cash subsidy for the export of clinker, cement, steel, resin and turpentine, plywood, tiger grass, fruit and dairy products (milk, cheese, cottage cheese, hard cheese and fat), and pashmina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy for this group was increased to 4 percent from 3 percent</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the procedure, the subsidy received by the exporter should be spent in the field of international market promotion, technology and capacity development, and e-commerce. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy will be increased by 1 percentage point if the goods exported from Nepal are exported with a collective trademark. If the export shows 20 percent increase as compared to previous year, another 1 percentage point will be added to the subsidy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15905', 'image' => '20221017021023_export.jpg', 'article_date' => '2022-10-17 14:09:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16163', 'article_category_id' => '1', 'title' => 'Urban Population on the Rise ', 'sub_title' => '', 'summary' => 'October 17: Nepal's urban population has reached 66.08 percent. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Nepal's urban population has reached 66.08 percent. As per the preliminary data of the National Census, 2078, the size of urban population has increased in comparison to the earlier Census held ten years ago, shared Joint-Secretary at the Ministry of Urban Development Ram Chandra Dangal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The urban population was 63.19 percent and rural population 36.81 percent during the National Census of 2068 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Cities Report, 2022 published by UN Habitat this month, the urbanization process was found rapidly increasing in developed countries. Almost 79 percent population reside in urban areas in such countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">If the same growth continues, the urban population is projected to reach 87 percent in advanced countries. The report has also projected the population growth rate of 0.46 percent in developed countries from 2020 to 2025. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was made public on the occasion of the World Habitat Day which is marked on the first Monday of October at the call of the UN Habitat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, World Habitat Day (WHD 2022) under the theme "Mind the Gap. Leave No One and Place Behind" looks at the problem of growing inequality and challenges in cities and human settlements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Habitat Day 2022 seeks to draw the attention towards the growing inequalities and vulnerabilities that have been exacerbated by the triple ‘C’ crises — COVID-19, climate and conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The United Nations (UN) had started observing the day on the first Monday of October since 1986. Nepal has also started marking the day since 2001. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year, Nepal is observing the World Habitat Day on October 17 by organizing several programmes with the theme 'Necessity of inclusive urban settlement: shared commitment of all". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the eighth day of Dashain festival coincided with the first Monday of October, the ministry decided to mark the day on third Monday of October, the ministry sources said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15904', 'image' => '20221017125636_Kathmandu land.jpg', 'article_date' => '2022-10-17 12:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16162', 'article_category_id' => '1', 'title' => 'CAAN Bans Paragliding Across the Country ', 'sub_title' => '', 'summary' => 'October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN said that the ban has been imposed in the wake of growing cases of paragliding accidents in the country. </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"">CAAN Deputy Director General and Spokesperson Jagannath Niraula told the the state-owned national news agency RSS on Sunday that paragliding has been suspended until another provision is put in place to further strengthening its security system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN decided to ban paragliding flights for the time being so as to manage policies, rules and laws relating to paragliding flight. The aviation governing body would permit the flights after clear laws are devised, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sportsperson Nisim Thapa, 26, died in a paragliding crash at Sarangkot, Pokhara on Sunday. He was competing in the cross-country event of paragliding during the 9th National Games underway in Pokhara when the craft owned by Blue Sky Company suddenly fell off some 700 metre from the sky to the ground.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa sustained injuries and later succumbed to death.</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15903', 'image' => '20221017115935_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-17 11:57:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16161', 'article_category_id' => '1', 'title' => 'Business of Decorative Lights Expected to Shrink by 50 Percent during Tihar', 'sub_title' => '', 'summary' => 'October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Federation of Electrical Entrepreneurs of Nepal, the business of decorative lights may slump due to the strict policy adopted by the government for the import of such items and the impact of global recession.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the federation, every year during the Tihar and Chhath festivals, the business of decorative lights amounts to almost Rs 40 million. However, this year, this amount may drop to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During Tihar and Chhath, the business of other kinds of lights also increases by 10 to 15 percent compared to normal times.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that the trend of changing old and worn out lights and moving to new houses also increase during this festival, so the business also increases during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation complains that, traders are not able to import goods after Nepal Rastra Bank imposed a 100 percent cash margin to open LC for the import of electronic goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudarshan Paudel, president of the federation, said that even small quantities of ordered goods could not enter Nepal due to the closure of both the northern border ckeckpoints (Tatopani and Rasuwagadhi).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the data of the Department of Customs, in the first two months of the current fiscal year, electrical equipment worth Rs 49.50 million entered Nepal, but the amount of bulbs and lights intended for the festivals is yet to be ascertained.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> In Nepal, 55 percent of decorative lights are imported from China and 15 percent from India. As soon as the festival of Dashain is over, people light up their homes, offices, commercial complexes and other places with different colored lights. So, the demand for such lights is high during Tihar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation added that the price of such items also increased this year due to the increase in the value of the US dollar. Recently, the price of the dollar has been on a continuous rise and reached around Rs 132, making the price of electronic materials increase by 20 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“On the one hand, due to fluctuations in the economy, the purchasing power of consumers has decreased, while on the other hand, the price of goods in the market has increased. Due to this, the presence of consumers in the market during Tihar this year is not encouraging. Therefore, the demand for such items seems to decrease automatically,” Paudel said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15902', 'image' => '20221016045321_1665898139.jpg', 'article_date' => '2022-10-16 16:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16160', 'article_category_id' => '1', 'title' => 'Government Fixes Rs 20 Million as Minimum Requirement for FDI', 'sub_title' => '', 'summary' => 'October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI). The government had made such arrangement in the budget for the current fiscal year. The government has reduced the minimum limit required for foreign investment with the objective of increasing investment in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent meeting of the Council of Ministers decided to fix the minimum requirement of FDI per foreigner at Rs 20 million in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the minimum limit for foreign investment was Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the government had raised the minimum limit for foreign investment from Rs 5 million to Rs 50 million in the budget three years ago in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075 BS. Now the minimum limit has been set at Rs 20 million, as per the budget announcement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Finance had presented the proposal to fix the new limit in accordance with the budget announcement to the Council of Ministers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Government Spokesperson Gyanendra Bahadur Karki informed that the minimum limit of FDI has been fixed as per the announcement made in the budget. However, the government has not fixed the ceiling for the maximum FDI in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to foreign investment experts, although the reduction of the minimum limit is positive, it is not possible to attract large investments immediately. It is expected to boost small and medium scale industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the government has been reducing the minimum limit required for FDI time and again, it has failed to attract foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Anjan Neupane, an expert on foreign investment, there is a possibility of additional investment in the IT, tourism, and service sector following the government’s decision to lower the minimum limit. He says the threshold is still too high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, it is not yet easy to attract investment in Nepal. Foreign investors have to face the obstacles on every step that starts after pouring their investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Department of Industry has a one-door system. NRB has two employees. That’s all. The old problems are still there,” said Neupane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Neupane, no procedural reforms have been made in the bodies that deal with foreign investors such as the Department of Industry, the Office of the Registrar of Companies, and the Immigration Department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors are well aware that the obstacles in investment approval, company registration, visa permission, business establishment, and operation have not been solved yet. According to Neupane, more than two dozen agencies, including half a dozen ministries, are still needed to take the project to the construction stage. The one-door system is just for the sake of name.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-September this year, Nepal received investment commitment of Rs 419 billion from 55 countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15901', 'image' => '20221016045201_20220624051313_Foreign investment.jpg', 'article_date' => '2022-10-16 16:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16159', 'article_category_id' => '1', 'title' => 'India Delays Shifting Dusty Cargo to ICP', 'sub_title' => '', 'summary' => 'October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being. The latest notification has given some relief to the importers who were worried after the Indian customs issued a notification that all imports and exports passing through this point will be transferred to ICP from this Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Northern Department of the Ministry of External Affairs of India issued a notice on Friday informing that the decision to completely stop the import and export of dusty cargo through the old border point has been postponed for the time being. The department said that the previous decision will not be implemented until January 1. However, importers are still confused about what will happen after January 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India said that the decision to shift the checkpoint for the import and export of dusty cargo by one and a half months was taken upon the request of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had made such request through the Indian Embassy in Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Vice President of Birgunj Chamber of Industry and Commerce, Madhav Rajpal said that the importers of Birgunj had requested the government to take initiative saying that the necessary infrastructure has not been prepared to move the entire dusty cargo to the ICP.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Earlier, India's Raxaul Customs had issued a notice stating that the import and export of dusty cargo will take place from the ICP from July 1. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal said that the main problem is the narrow road connecting the Raxaul Railway and the ICP. He argued that because the road is narrow, it is not possible to transport 300 to 400 trucks a day.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has also mentioned in its notification that the decision has been postponed for the time being as the infrastructure is not ready.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the ICP has been fully operational, the Indian side has been pressing to shift all the import and export of the Birgunj-Raxaul border to the ICP. Even after four years of operating the ICP, dusty cargo like coal, iron ore, slag and some quantity of industrial raw materials including iron billet, and iron roll are still entering through the old Raxaul-Birgunj route. Salt and fertilizer are also unloaded in Raxaul and imported into Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of a suitable place for dusty cargo management on the Nepal side, there is no other alternative to the Raxaul-Birgunj route. Previously, the supply of dusty cargo was disrupted due to protests by the local residents of Raxaul.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Loading and unloading of clinker was stopped there five years ago due to the obstruction of the locals of Raxaul. At that time, a team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, suggested that such cargo could be managed at three locations in Birgunj.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since then, Indian customs has repeatedly given ultimatums to remove the dusty cargo from there but to no avail.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15900', 'image' => '20221016040138_1665863484.Clipboard01.jpg', 'article_date' => '2022-10-16 16:00:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16173', 'article_category_id' => '1', 'title' => 'NEPSE Recommends Broker License for 45 Companies', 'sub_title' => '', 'summary' => 'October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17. There is a provision that any company seeking broker’s license from the Securities Board of Nepal (SEBON) must first get recommendation from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of October 16, a total of 20 companies have submitted applications with the board seeking brokers’ license. The board has not updated any details after that. The last date for submitting application for the license was October 17.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Murahari Parajuli, information officer of NEPSE, most of the 45 companies that received recommendations are eligible for first-level broker services based on the capital structure set by the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Parajuli, three companies have received recommendations for the second-level broker license with full scope and only one company for the third-level stock dealer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Parajuli informed that Nabil Securities, a subsidiary company of Nabil Bank, has received recommendation from NEPSE for the third-level stock dealer license.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Parajuli said Mega Stock Market, Century Securities and Himalayan Securities have received recommendations for the second-level license with full scope.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications for to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The deadline to submit application for broker license was 30 days while the deadline for stock exchanges and commodity exchanges was of 45 days.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15914', 'image' => '20221018050531_nepse-live-shareprice.jpg', 'article_date' => '2022-10-18 17:04:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16172', 'article_category_id' => '1', 'title' => 'Jumla Facing Shortage of Cooking Gas, Petroleum Products ', 'sub_title' => '', 'summary' => 'October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumers have been facing difficulties in lack of sufficient amount of cooking gas and petroleum products in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Chief District Officer, Pramila Rijal, said shortage of petroleum products has been seen in the market following disruption of Karnali Highway. A team headed by Deputy Mayor of Chandannath Municipality, Ram Devi Khadka, and Assistant Chief District Officer, Rijal, had carried out monitoring of groceries and dealers of petroleum products after receiving complaints of black marketing in the name of road disruption. In course of market monitoring, shortage of petroleum products was found at the district headquarters. </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"">Rijal shared that the stock of food stuffs and edible oil in the market is enough for around two months. The team had carried out monitoring of 10 shops. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Road Division Office, Jumla, efforts are underway to resume the road as soon as possible. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15913', 'image' => '20221018042318_jumla.jpg', 'article_date' => '2022-10-18 16:22:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16171', 'article_category_id' => '1', 'title' => 'Clear Sky Observed with the Retreat of Monsoon, Temperature Expected to Decline ', 'sub_title' => '', 'summary' => 'October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Weather Forecasting Division, Hira Bhattarai, informed that temperature has been decreasing for some days in the country. The westerly wind is getting active. </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"">"Generally as the monsoon retreats, westerly wind becomes active. So, we are likely to have light rainfall in the hill areas of Sudurpaschim, Karnali and Lumbini provinces today and tomorrow," added Bhattarai. </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 westerly wind also brings cold. The country would see rising cold in the days ahead. This year, the monsoon exited from the provinces of Sudurpaschim, Karnali, Lumbini, Gandaki and Madhes last Saturday while it exited from Province-1 on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the retreat of monsoon, the weather has become clear across the country for some days. The minimum temperature of Kathmandu was recorded at 12 degrees Celsius today while maximum temperature was 26 degrees. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15912', 'image' => '20221018041000_PL_Banepa.jpg', 'article_date' => '2022-10-18 14:01:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16170', 'article_category_id' => '1', 'title' => 'Stakeholders in Favour of Promoting Innovation in Local Governance', 'sub_title' => '', 'summary' => 'October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The programme was organized by the research institution with the theme “Promoting Innovation in Local Governance for Inclusive Economic Development of Nepal”. The objective of the symposium was to share innovative practices of local governments, to discuss ways to bolster the local governance system and to strengthen the networking among stakeholders working in public policy and governance, the organisers said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the first day of the symposium, 11 municipalities from six provinces shared their public innovations. Not only this, they also put forth the key lessons learned from those innovations as well as the dimension of opportunities opened up for them to effectively scale up. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the second day, national stakeholders deliberated on ways to institutionalize the learning from the discussions of the first day and scale up policy impact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second day of the symposium also featured a seminar on “Building Gender Sensitivity in Government Institutions” with various dialogue sessions. During the sessions, international experts and scholars like Prof Soledad Prillaman, assistant professor of political science at Stanford University and Prof Ben Berger, associate professor of political science and executive director of Lang Center for Civic and Social Responsibility at Swarthmore College joined virtually as keynote speakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The symposium concluded that measures of bringing change to elevate the economic status of Nepal can be achieved through the policy level. Furthermore, the chairperson of Governance Lab, Dr Pukar Malla unveiled the Declaration for Collective Action at the end of the symposium. The declaration highlights “Inclusion, Innovation, Local Governance and Economic Development” as the four core commitment areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the pogramme, Kalyan Shrestha, former chief justice of the Supreme Court of Nepal said, “Development without inclusiveness will not bring peace but crisis. Our development plans and policies have not been able to incorporate inclusiveness so far. Therefore, it is very important that we create a common vision about inclusive development in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Swarnim Wagle, former vice- chairperson of the National Planning Commission, complained that federalism failed due to the heavily divided public and political opinion which hindered the local government as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, speaking at the programme, Krishna Gyawali, former secretary of the Government of Nepal highlighted the importance of good governance for the success of federalism.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15911', 'image' => '20221018123159_NGS 2022 Group Pic.JPEG', 'article_date' => '2022-10-18 12:31:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16169', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 8.18 Billion after Dashain', 'sub_title' => '', 'summary' => 'October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. The Nepal Bankers Association informed that the money withdrawn from the banks before Dashain have started returning back to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, between October 1 and 7, deposits of commercial banks had decreased by Rs 7.99 billion and stood at Rs 4510 billion. However, bank deposits increased again to Rs 4519 billion between October 8 to 14. The deposits of commercial banks increased by Rs 8.18 billion in the review week. During the same period, credit flow of banks increased by just Rs 62 million. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, the loan disbursement of banks increased from Rs 41926 billion to Rs 4193.2 billion as of October 14. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) had exchanged new notes for old ones worth Rs 16 billion for Dashain. Apart from this, new notes worth Rs 40 billion were sent to the market, according to a statement issued by NRB. The central bank says that the cash that went to the market will gradually return to the banking system through deposits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On October 14, the average credit-to-deposit (CD) ratio of banks stood at 86.96 percent. According to the instructions of the NRB, banks should maintain the CD ratio within 90 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15910', 'image' => '20221018112851_Banks - Copy.jpg', 'article_date' => '2022-10-18 11:28:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16168', 'article_category_id' => '1', 'title' => 'Govt Declares Public Holiday Today to Mourn the Demise of Centenarian Joshi ', 'sub_title' => '', 'summary' => 'October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the Ministry of Home Affairs stated that the government has decided to give a public holiday across the country on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement issued by the ministry’s spokesperson Phanindra Mani Pokharel reads that the government has also decided to raise the national flag at half-mast on Tuesday at all government offices, public organisations across the nation and at diplomatic missions abroad to mourn the passing away of cultural expert Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi passed away on Sunday at the age of 103. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15909', 'image' => '20221018102653_D6aANBrUYAEKz_7.jpg', 'article_date' => '2022-10-18 10:26:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16167', 'article_category_id' => '1', 'title' => 'Dengue Spreads all Over the Country ', 'sub_title' => 'Mountainous Districts of Karnali Province see Dengue Cases due to Climate Change ', 'summary' => 'October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across 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"">October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. </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"">A total of 40,029 people have been infected since the last outbreak in July, according to the ministry. </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 ministry said it has expedited efforts to prevent and control dengue infection as well as to treat the infected ones. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Impact of Climate Change</span></strong></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"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Province Health Service Directorate, Surkhet, a total of 40 dengue patients have been detected in Humla, Jumla, Mugu and Dolpa this year by the time this report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue Control Source Person and vector control officer of the Directorate, Shyam Lal Acharya, said mountainous region is becoming favourable for lifecycle of mosquito. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Mosquito larva were found in Khatyang of Mugu two years ago and dengue patients were also detected. Cases of dengue has started increasing here after mountainous region is becoming favourable for life cycle of mosquito," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A dengue patient was found in Humla, nine in Dolpa, eight in Mugu and 22 in Jumla this time, according to the directorate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior physician of Province Hospital, Dr KN Poudel, pointed out that climate change is the main reason behind the dengue cases in mountainous region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October. There are now 441 dengue patients in Karnali Province. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15908', 'image' => '20221017062819_Aedes-species-mosquito-transmitter-of-dengue.jpg', 'article_date' => '2022-10-17 18:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16166', 'article_category_id' => '1', 'title' => 'Election Commission Seeks Clarification from SEBON Regarding Application for New Licenses', 'sub_title' => '', 'summary' => 'October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission has asked for clarification from SEBON within three days regarding why it went against the Election Code of Conduct 2079. The commission had instructed all government bodies not to issue new license during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission clarified that the Election Code of Conduct has a provision which clearly mentions all concerned bodies not to conduct any new programme or to announce, approve or operate new policies, plans and programmes other than those approved in the annual budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board is ready to submit an explanation to the Election Commission regarding its move. Tej Prasad Devkota, information officer of the board, informed that the board will submit an explanation to the Election Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board argued that seeking application for the license is not against the code of conduct as it was done before the election code of conduct came into force.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Devkota, 20 companies have applied for broker license as of 5 pm, Sunday. Devkota also informed us that no application has been received for stock exchange and commodity exchange companies. There is a provision to take the recommendation of the Nepal Stock Exchange Limited (NEPSE) before applying for a new broker license with the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Information officer of NEPSE, Murahari Parajuli informed that although only 20 companies have applied for broker licenses with the board till Sunday, 32 companies have received recommendations from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had announced application for three types of broker licenses on September 18. On the other hand, the EC had enforced the Election Code of Conduct on September 28.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board has sought applications for a new stock exchange company, two commodity exchange markets and an undisclosed number of securities broker licenses. Based on the notification issued by the board, the last day to apply for the broker license is October 17. SEBON has set an application deadline of 45 days ending on November 1, for the new stock exchange company and commodity exchange markets. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SEBON has set a paid-up capital of Rs 3 billion for new stock exchanges and a minimum of Rs 200 million to a maximum of Rs 1.5 billion for new brokers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new broker licenses to be distributed by the board will be of three types. Based on the capital structure, the board will distribute three types of broker licenses to provide different services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the capital structure, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the provisions of the Commodity Exchange Market Act, of 2074, the minimum paid-up capital for the operation of the commodity market shall be as determined by the board and must not be less than Rs 50 million,.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15907', 'image' => '20221017042922_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-17 16:28:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16165', 'article_category_id' => '1', 'title' => 'Inflow of Tourists in Rising in Langtang National Park', 'sub_title' => '', 'summary' => 'October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an average, 50 tourists are turning up daily for trekking in the mountainous route of Rasuwa. The arrival of tourists in the district had taken a nosedive with the onset of Covid-19 pandemic and the situation remained adverse for a long time.</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"">However, the hotel and lodge business which was hit hard by the pandemic is gradually bouncing back. With the rise in the influx of tourists, the tourism entrepreneurs have become optimistic about the revival of tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest update from Langtang National Park, inflow of tourists, especially women, has increased remarkably at Gosainkunda and Langtang areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 13,084 domestic and foreign tourists who visited the district from mid-July to mid-October this year, 2,846 were women, the records revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the female tourists, 2,297 were domestic and 549 foreigners, informed Forest Technician of the Park, Nitendra Singh. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trekkers reach Gosainkunda through Sundarijal-Helambu trekking route and Dhunche-Chandanbari trekking route and then trek to Kyangjen of Langtang from Cholangpati through Thulosyafru. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As shared by the park officials, 11,758 Nepalis and 1,326 foreigners had entered the park premises from mid-July to mid-October this year to enjoy the scenic beauty of the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the national park sources, a total of 1,259 tourists from the United States, Germany, Japan, Korea and Australia and others had entered the national park while the number of tourists from SAARC region was only 67. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15906', 'image' => '20221017022549_20220424110255_Tourist Arrival (1).jpeg', 'article_date' => '2022-10-17 14:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16164', 'article_category_id' => '1', 'title' => 'Government to Provide 8 Percent Subsidy for Exports above Rs 500 Million', 'sub_title' => '', 'summary' => 'October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods. The Ministry of Industry, Commerce and Supplies has implemented the Export Subsidy Procedure 2079 in order to provide subsidy up to 8 percent on exports as per the provision in the budget of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new procedure has provision to provide 8 percent cash subsidy to a company which exports goods worth more than Rs 500 million in a year. However, the cash subsidy will be provided on the basis of the amount that exceeds the threshold of Rs 500 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2018, the ministry made a list of 26 items that are entitled to receive export subsidies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After amending the procedure, clinker, cement, steel, coal, resins and turpentine, plywood, tiger grass, fruits and dairy products (milk, cheese, cottage cheese, hardened cheese and fat) have been included in the list.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry will provide 5 percent subsidy for the export of handicraft products, processed and unprocessed herbs, turmeric, fresh vegetables, flowers, cardamom, ginger. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Likewise, the government will give 4 percent cash subsidy for the export of clinker, cement, steel, resin and turpentine, plywood, tiger grass, fruit and dairy products (milk, cheese, cottage cheese, hard cheese and fat), and pashmina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy for this group was increased to 4 percent from 3 percent</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the procedure, the subsidy received by the exporter should be spent in the field of international market promotion, technology and capacity development, and e-commerce. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy will be increased by 1 percentage point if the goods exported from Nepal are exported with a collective trademark. If the export shows 20 percent increase as compared to previous year, another 1 percentage point will be added to the subsidy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15905', 'image' => '20221017021023_export.jpg', 'article_date' => '2022-10-17 14:09:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16163', 'article_category_id' => '1', 'title' => 'Urban Population on the Rise ', 'sub_title' => '', 'summary' => 'October 17: Nepal's urban population has reached 66.08 percent. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Nepal's urban population has reached 66.08 percent. As per the preliminary data of the National Census, 2078, the size of urban population has increased in comparison to the earlier Census held ten years ago, shared Joint-Secretary at the Ministry of Urban Development Ram Chandra Dangal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The urban population was 63.19 percent and rural population 36.81 percent during the National Census of 2068 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Cities Report, 2022 published by UN Habitat this month, the urbanization process was found rapidly increasing in developed countries. Almost 79 percent population reside in urban areas in such countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">If the same growth continues, the urban population is projected to reach 87 percent in advanced countries. The report has also projected the population growth rate of 0.46 percent in developed countries from 2020 to 2025. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was made public on the occasion of the World Habitat Day which is marked on the first Monday of October at the call of the UN Habitat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, World Habitat Day (WHD 2022) under the theme "Mind the Gap. Leave No One and Place Behind" looks at the problem of growing inequality and challenges in cities and human settlements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Habitat Day 2022 seeks to draw the attention towards the growing inequalities and vulnerabilities that have been exacerbated by the triple ‘C’ crises — COVID-19, climate and conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The United Nations (UN) had started observing the day on the first Monday of October since 1986. Nepal has also started marking the day since 2001. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year, Nepal is observing the World Habitat Day on October 17 by organizing several programmes with the theme 'Necessity of inclusive urban settlement: shared commitment of all". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the eighth day of Dashain festival coincided with the first Monday of October, the ministry decided to mark the day on third Monday of October, the ministry sources said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15904', 'image' => '20221017125636_Kathmandu land.jpg', 'article_date' => '2022-10-17 12:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16162', 'article_category_id' => '1', 'title' => 'CAAN Bans Paragliding Across the Country ', 'sub_title' => '', 'summary' => 'October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN said that the ban has been imposed in the wake of growing cases of paragliding accidents in the country. </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"">CAAN Deputy Director General and Spokesperson Jagannath Niraula told the the state-owned national news agency RSS on Sunday that paragliding has been suspended until another provision is put in place to further strengthening its security system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN decided to ban paragliding flights for the time being so as to manage policies, rules and laws relating to paragliding flight. The aviation governing body would permit the flights after clear laws are devised, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sportsperson Nisim Thapa, 26, died in a paragliding crash at Sarangkot, Pokhara on Sunday. He was competing in the cross-country event of paragliding during the 9th National Games underway in Pokhara when the craft owned by Blue Sky Company suddenly fell off some 700 metre from the sky to the ground.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa sustained injuries and later succumbed to death.</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15903', 'image' => '20221017115935_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-17 11:57:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16161', 'article_category_id' => '1', 'title' => 'Business of Decorative Lights Expected to Shrink by 50 Percent during Tihar', 'sub_title' => '', 'summary' => 'October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Federation of Electrical Entrepreneurs of Nepal, the business of decorative lights may slump due to the strict policy adopted by the government for the import of such items and the impact of global recession.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the federation, every year during the Tihar and Chhath festivals, the business of decorative lights amounts to almost Rs 40 million. However, this year, this amount may drop to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During Tihar and Chhath, the business of other kinds of lights also increases by 10 to 15 percent compared to normal times.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that the trend of changing old and worn out lights and moving to new houses also increase during this festival, so the business also increases during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation complains that, traders are not able to import goods after Nepal Rastra Bank imposed a 100 percent cash margin to open LC for the import of electronic goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudarshan Paudel, president of the federation, said that even small quantities of ordered goods could not enter Nepal due to the closure of both the northern border ckeckpoints (Tatopani and Rasuwagadhi).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the data of the Department of Customs, in the first two months of the current fiscal year, electrical equipment worth Rs 49.50 million entered Nepal, but the amount of bulbs and lights intended for the festivals is yet to be ascertained.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> In Nepal, 55 percent of decorative lights are imported from China and 15 percent from India. As soon as the festival of Dashain is over, people light up their homes, offices, commercial complexes and other places with different colored lights. So, the demand for such lights is high during Tihar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation added that the price of such items also increased this year due to the increase in the value of the US dollar. Recently, the price of the dollar has been on a continuous rise and reached around Rs 132, making the price of electronic materials increase by 20 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“On the one hand, due to fluctuations in the economy, the purchasing power of consumers has decreased, while on the other hand, the price of goods in the market has increased. Due to this, the presence of consumers in the market during Tihar this year is not encouraging. Therefore, the demand for such items seems to decrease automatically,” Paudel said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15902', 'image' => '20221016045321_1665898139.jpg', 'article_date' => '2022-10-16 16:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16160', 'article_category_id' => '1', 'title' => 'Government Fixes Rs 20 Million as Minimum Requirement for FDI', 'sub_title' => '', 'summary' => 'October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI). The government had made such arrangement in the budget for the current fiscal year. The government has reduced the minimum limit required for foreign investment with the objective of increasing investment in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent meeting of the Council of Ministers decided to fix the minimum requirement of FDI per foreigner at Rs 20 million in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the minimum limit for foreign investment was Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the government had raised the minimum limit for foreign investment from Rs 5 million to Rs 50 million in the budget three years ago in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075 BS. Now the minimum limit has been set at Rs 20 million, as per the budget announcement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Finance had presented the proposal to fix the new limit in accordance with the budget announcement to the Council of Ministers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Government Spokesperson Gyanendra Bahadur Karki informed that the minimum limit of FDI has been fixed as per the announcement made in the budget. However, the government has not fixed the ceiling for the maximum FDI in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to foreign investment experts, although the reduction of the minimum limit is positive, it is not possible to attract large investments immediately. It is expected to boost small and medium scale industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the government has been reducing the minimum limit required for FDI time and again, it has failed to attract foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Anjan Neupane, an expert on foreign investment, there is a possibility of additional investment in the IT, tourism, and service sector following the government’s decision to lower the minimum limit. He says the threshold is still too high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, it is not yet easy to attract investment in Nepal. Foreign investors have to face the obstacles on every step that starts after pouring their investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Department of Industry has a one-door system. NRB has two employees. That’s all. The old problems are still there,” said Neupane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Neupane, no procedural reforms have been made in the bodies that deal with foreign investors such as the Department of Industry, the Office of the Registrar of Companies, and the Immigration Department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors are well aware that the obstacles in investment approval, company registration, visa permission, business establishment, and operation have not been solved yet. According to Neupane, more than two dozen agencies, including half a dozen ministries, are still needed to take the project to the construction stage. The one-door system is just for the sake of name.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-September this year, Nepal received investment commitment of Rs 419 billion from 55 countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15901', 'image' => '20221016045201_20220624051313_Foreign investment.jpg', 'article_date' => '2022-10-16 16:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16159', 'article_category_id' => '1', 'title' => 'India Delays Shifting Dusty Cargo to ICP', 'sub_title' => '', 'summary' => 'October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being. The latest notification has given some relief to the importers who were worried after the Indian customs issued a notification that all imports and exports passing through this point will be transferred to ICP from this Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Northern Department of the Ministry of External Affairs of India issued a notice on Friday informing that the decision to completely stop the import and export of dusty cargo through the old border point has been postponed for the time being. The department said that the previous decision will not be implemented until January 1. However, importers are still confused about what will happen after January 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India said that the decision to shift the checkpoint for the import and export of dusty cargo by one and a half months was taken upon the request of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had made such request through the Indian Embassy in Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Vice President of Birgunj Chamber of Industry and Commerce, Madhav Rajpal said that the importers of Birgunj had requested the government to take initiative saying that the necessary infrastructure has not been prepared to move the entire dusty cargo to the ICP.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Earlier, India's Raxaul Customs had issued a notice stating that the import and export of dusty cargo will take place from the ICP from July 1. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal said that the main problem is the narrow road connecting the Raxaul Railway and the ICP. He argued that because the road is narrow, it is not possible to transport 300 to 400 trucks a day.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has also mentioned in its notification that the decision has been postponed for the time being as the infrastructure is not ready.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the ICP has been fully operational, the Indian side has been pressing to shift all the import and export of the Birgunj-Raxaul border to the ICP. Even after four years of operating the ICP, dusty cargo like coal, iron ore, slag and some quantity of industrial raw materials including iron billet, and iron roll are still entering through the old Raxaul-Birgunj route. Salt and fertilizer are also unloaded in Raxaul and imported into Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of a suitable place for dusty cargo management on the Nepal side, there is no other alternative to the Raxaul-Birgunj route. Previously, the supply of dusty cargo was disrupted due to protests by the local residents of Raxaul.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Loading and unloading of clinker was stopped there five years ago due to the obstruction of the locals of Raxaul. At that time, a team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, suggested that such cargo could be managed at three locations in Birgunj.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since then, Indian customs has repeatedly given ultimatums to remove the dusty cargo from there but to no avail.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15900', 'image' => '20221016040138_1665863484.Clipboard01.jpg', 'article_date' => '2022-10-16 16:00:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16173', 'article_category_id' => '1', 'title' => 'NEPSE Recommends Broker License for 45 Companies', 'sub_title' => '', 'summary' => 'October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17. There is a provision that any company seeking broker’s license from the Securities Board of Nepal (SEBON) must first get recommendation from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of October 16, a total of 20 companies have submitted applications with the board seeking brokers’ license. The board has not updated any details after that. The last date for submitting application for the license was October 17.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Murahari Parajuli, information officer of NEPSE, most of the 45 companies that received recommendations are eligible for first-level broker services based on the capital structure set by the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Parajuli, three companies have received recommendations for the second-level broker license with full scope and only one company for the third-level stock dealer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Parajuli informed that Nabil Securities, a subsidiary company of Nabil Bank, has received recommendation from NEPSE for the third-level stock dealer license.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Parajuli said Mega Stock Market, Century Securities and Himalayan Securities have received recommendations for the second-level license with full scope.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications for to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The deadline to submit application for broker license was 30 days while the deadline for stock exchanges and commodity exchanges was of 45 days.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15914', 'image' => '20221018050531_nepse-live-shareprice.jpg', 'article_date' => '2022-10-18 17:04:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16172', 'article_category_id' => '1', 'title' => 'Jumla Facing Shortage of Cooking Gas, Petroleum Products ', 'sub_title' => '', 'summary' => 'October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumers have been facing difficulties in lack of sufficient amount of cooking gas and petroleum products in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Chief District Officer, Pramila Rijal, said shortage of petroleum products has been seen in the market following disruption of Karnali Highway. A team headed by Deputy Mayor of Chandannath Municipality, Ram Devi Khadka, and Assistant Chief District Officer, Rijal, had carried out monitoring of groceries and dealers of petroleum products after receiving complaints of black marketing in the name of road disruption. In course of market monitoring, shortage of petroleum products was found at the district headquarters. </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"">Rijal shared that the stock of food stuffs and edible oil in the market is enough for around two months. The team had carried out monitoring of 10 shops. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Road Division Office, Jumla, efforts are underway to resume the road as soon as possible. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15913', 'image' => '20221018042318_jumla.jpg', 'article_date' => '2022-10-18 16:22:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16171', 'article_category_id' => '1', 'title' => 'Clear Sky Observed with the Retreat of Monsoon, Temperature Expected to Decline ', 'sub_title' => '', 'summary' => 'October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Weather Forecasting Division, Hira Bhattarai, informed that temperature has been decreasing for some days in the country. The westerly wind is getting active. </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"">"Generally as the monsoon retreats, westerly wind becomes active. So, we are likely to have light rainfall in the hill areas of Sudurpaschim, Karnali and Lumbini provinces today and tomorrow," added Bhattarai. </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 westerly wind also brings cold. The country would see rising cold in the days ahead. This year, the monsoon exited from the provinces of Sudurpaschim, Karnali, Lumbini, Gandaki and Madhes last Saturday while it exited from Province-1 on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the retreat of monsoon, the weather has become clear across the country for some days. The minimum temperature of Kathmandu was recorded at 12 degrees Celsius today while maximum temperature was 26 degrees. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15912', 'image' => '20221018041000_PL_Banepa.jpg', 'article_date' => '2022-10-18 14:01:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16170', 'article_category_id' => '1', 'title' => 'Stakeholders in Favour of Promoting Innovation in Local Governance', 'sub_title' => '', 'summary' => 'October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The programme was organized by the research institution with the theme “Promoting Innovation in Local Governance for Inclusive Economic Development of Nepal”. The objective of the symposium was to share innovative practices of local governments, to discuss ways to bolster the local governance system and to strengthen the networking among stakeholders working in public policy and governance, the organisers said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the first day of the symposium, 11 municipalities from six provinces shared their public innovations. Not only this, they also put forth the key lessons learned from those innovations as well as the dimension of opportunities opened up for them to effectively scale up. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the second day, national stakeholders deliberated on ways to institutionalize the learning from the discussions of the first day and scale up policy impact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second day of the symposium also featured a seminar on “Building Gender Sensitivity in Government Institutions” with various dialogue sessions. During the sessions, international experts and scholars like Prof Soledad Prillaman, assistant professor of political science at Stanford University and Prof Ben Berger, associate professor of political science and executive director of Lang Center for Civic and Social Responsibility at Swarthmore College joined virtually as keynote speakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The symposium concluded that measures of bringing change to elevate the economic status of Nepal can be achieved through the policy level. Furthermore, the chairperson of Governance Lab, Dr Pukar Malla unveiled the Declaration for Collective Action at the end of the symposium. The declaration highlights “Inclusion, Innovation, Local Governance and Economic Development” as the four core commitment areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the pogramme, Kalyan Shrestha, former chief justice of the Supreme Court of Nepal said, “Development without inclusiveness will not bring peace but crisis. Our development plans and policies have not been able to incorporate inclusiveness so far. Therefore, it is very important that we create a common vision about inclusive development in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Swarnim Wagle, former vice- chairperson of the National Planning Commission, complained that federalism failed due to the heavily divided public and political opinion which hindered the local government as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, speaking at the programme, Krishna Gyawali, former secretary of the Government of Nepal highlighted the importance of good governance for the success of federalism.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15911', 'image' => '20221018123159_NGS 2022 Group Pic.JPEG', 'article_date' => '2022-10-18 12:31:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16169', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 8.18 Billion after Dashain', 'sub_title' => '', 'summary' => 'October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. The Nepal Bankers Association informed that the money withdrawn from the banks before Dashain have started returning back to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, between October 1 and 7, deposits of commercial banks had decreased by Rs 7.99 billion and stood at Rs 4510 billion. However, bank deposits increased again to Rs 4519 billion between October 8 to 14. The deposits of commercial banks increased by Rs 8.18 billion in the review week. During the same period, credit flow of banks increased by just Rs 62 million. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, the loan disbursement of banks increased from Rs 41926 billion to Rs 4193.2 billion as of October 14. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) had exchanged new notes for old ones worth Rs 16 billion for Dashain. Apart from this, new notes worth Rs 40 billion were sent to the market, according to a statement issued by NRB. The central bank says that the cash that went to the market will gradually return to the banking system through deposits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On October 14, the average credit-to-deposit (CD) ratio of banks stood at 86.96 percent. According to the instructions of the NRB, banks should maintain the CD ratio within 90 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15910', 'image' => '20221018112851_Banks - Copy.jpg', 'article_date' => '2022-10-18 11:28:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16168', 'article_category_id' => '1', 'title' => 'Govt Declares Public Holiday Today to Mourn the Demise of Centenarian Joshi ', 'sub_title' => '', 'summary' => 'October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the Ministry of Home Affairs stated that the government has decided to give a public holiday across the country on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement issued by the ministry’s spokesperson Phanindra Mani Pokharel reads that the government has also decided to raise the national flag at half-mast on Tuesday at all government offices, public organisations across the nation and at diplomatic missions abroad to mourn the passing away of cultural expert Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi passed away on Sunday at the age of 103. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15909', 'image' => '20221018102653_D6aANBrUYAEKz_7.jpg', 'article_date' => '2022-10-18 10:26:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16167', 'article_category_id' => '1', 'title' => 'Dengue Spreads all Over the Country ', 'sub_title' => 'Mountainous Districts of Karnali Province see Dengue Cases due to Climate Change ', 'summary' => 'October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across 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"">October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. </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"">A total of 40,029 people have been infected since the last outbreak in July, according to the ministry. </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 ministry said it has expedited efforts to prevent and control dengue infection as well as to treat the infected ones. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Impact of Climate Change</span></strong></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"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Province Health Service Directorate, Surkhet, a total of 40 dengue patients have been detected in Humla, Jumla, Mugu and Dolpa this year by the time this report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue Control Source Person and vector control officer of the Directorate, Shyam Lal Acharya, said mountainous region is becoming favourable for lifecycle of mosquito. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Mosquito larva were found in Khatyang of Mugu two years ago and dengue patients were also detected. Cases of dengue has started increasing here after mountainous region is becoming favourable for life cycle of mosquito," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A dengue patient was found in Humla, nine in Dolpa, eight in Mugu and 22 in Jumla this time, according to the directorate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior physician of Province Hospital, Dr KN Poudel, pointed out that climate change is the main reason behind the dengue cases in mountainous region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October. There are now 441 dengue patients in Karnali Province. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15908', 'image' => '20221017062819_Aedes-species-mosquito-transmitter-of-dengue.jpg', 'article_date' => '2022-10-17 18:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16166', 'article_category_id' => '1', 'title' => 'Election Commission Seeks Clarification from SEBON Regarding Application for New Licenses', 'sub_title' => '', 'summary' => 'October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission has asked for clarification from SEBON within three days regarding why it went against the Election Code of Conduct 2079. The commission had instructed all government bodies not to issue new license during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission clarified that the Election Code of Conduct has a provision which clearly mentions all concerned bodies not to conduct any new programme or to announce, approve or operate new policies, plans and programmes other than those approved in the annual budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board is ready to submit an explanation to the Election Commission regarding its move. Tej Prasad Devkota, information officer of the board, informed that the board will submit an explanation to the Election Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board argued that seeking application for the license is not against the code of conduct as it was done before the election code of conduct came into force.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Devkota, 20 companies have applied for broker license as of 5 pm, Sunday. Devkota also informed us that no application has been received for stock exchange and commodity exchange companies. There is a provision to take the recommendation of the Nepal Stock Exchange Limited (NEPSE) before applying for a new broker license with the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Information officer of NEPSE, Murahari Parajuli informed that although only 20 companies have applied for broker licenses with the board till Sunday, 32 companies have received recommendations from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had announced application for three types of broker licenses on September 18. On the other hand, the EC had enforced the Election Code of Conduct on September 28.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board has sought applications for a new stock exchange company, two commodity exchange markets and an undisclosed number of securities broker licenses. Based on the notification issued by the board, the last day to apply for the broker license is October 17. SEBON has set an application deadline of 45 days ending on November 1, for the new stock exchange company and commodity exchange markets. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SEBON has set a paid-up capital of Rs 3 billion for new stock exchanges and a minimum of Rs 200 million to a maximum of Rs 1.5 billion for new brokers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new broker licenses to be distributed by the board will be of three types. Based on the capital structure, the board will distribute three types of broker licenses to provide different services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the capital structure, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the provisions of the Commodity Exchange Market Act, of 2074, the minimum paid-up capital for the operation of the commodity market shall be as determined by the board and must not be less than Rs 50 million,.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15907', 'image' => '20221017042922_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-17 16:28:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16165', 'article_category_id' => '1', 'title' => 'Inflow of Tourists in Rising in Langtang National Park', 'sub_title' => '', 'summary' => 'October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an average, 50 tourists are turning up daily for trekking in the mountainous route of Rasuwa. The arrival of tourists in the district had taken a nosedive with the onset of Covid-19 pandemic and the situation remained adverse for a long time.</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"">However, the hotel and lodge business which was hit hard by the pandemic is gradually bouncing back. With the rise in the influx of tourists, the tourism entrepreneurs have become optimistic about the revival of tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest update from Langtang National Park, inflow of tourists, especially women, has increased remarkably at Gosainkunda and Langtang areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 13,084 domestic and foreign tourists who visited the district from mid-July to mid-October this year, 2,846 were women, the records revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the female tourists, 2,297 were domestic and 549 foreigners, informed Forest Technician of the Park, Nitendra Singh. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trekkers reach Gosainkunda through Sundarijal-Helambu trekking route and Dhunche-Chandanbari trekking route and then trek to Kyangjen of Langtang from Cholangpati through Thulosyafru. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As shared by the park officials, 11,758 Nepalis and 1,326 foreigners had entered the park premises from mid-July to mid-October this year to enjoy the scenic beauty of the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the national park sources, a total of 1,259 tourists from the United States, Germany, Japan, Korea and Australia and others had entered the national park while the number of tourists from SAARC region was only 67. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15906', 'image' => '20221017022549_20220424110255_Tourist Arrival (1).jpeg', 'article_date' => '2022-10-17 14:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16164', 'article_category_id' => '1', 'title' => 'Government to Provide 8 Percent Subsidy for Exports above Rs 500 Million', 'sub_title' => '', 'summary' => 'October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods. The Ministry of Industry, Commerce and Supplies has implemented the Export Subsidy Procedure 2079 in order to provide subsidy up to 8 percent on exports as per the provision in the budget of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new procedure has provision to provide 8 percent cash subsidy to a company which exports goods worth more than Rs 500 million in a year. However, the cash subsidy will be provided on the basis of the amount that exceeds the threshold of Rs 500 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2018, the ministry made a list of 26 items that are entitled to receive export subsidies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After amending the procedure, clinker, cement, steel, coal, resins and turpentine, plywood, tiger grass, fruits and dairy products (milk, cheese, cottage cheese, hardened cheese and fat) have been included in the list.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry will provide 5 percent subsidy for the export of handicraft products, processed and unprocessed herbs, turmeric, fresh vegetables, flowers, cardamom, ginger. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Likewise, the government will give 4 percent cash subsidy for the export of clinker, cement, steel, resin and turpentine, plywood, tiger grass, fruit and dairy products (milk, cheese, cottage cheese, hard cheese and fat), and pashmina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy for this group was increased to 4 percent from 3 percent</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the procedure, the subsidy received by the exporter should be spent in the field of international market promotion, technology and capacity development, and e-commerce. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy will be increased by 1 percentage point if the goods exported from Nepal are exported with a collective trademark. If the export shows 20 percent increase as compared to previous year, another 1 percentage point will be added to the subsidy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15905', 'image' => '20221017021023_export.jpg', 'article_date' => '2022-10-17 14:09:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16163', 'article_category_id' => '1', 'title' => 'Urban Population on the Rise ', 'sub_title' => '', 'summary' => 'October 17: Nepal's urban population has reached 66.08 percent. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Nepal's urban population has reached 66.08 percent. As per the preliminary data of the National Census, 2078, the size of urban population has increased in comparison to the earlier Census held ten years ago, shared Joint-Secretary at the Ministry of Urban Development Ram Chandra Dangal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The urban population was 63.19 percent and rural population 36.81 percent during the National Census of 2068 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Cities Report, 2022 published by UN Habitat this month, the urbanization process was found rapidly increasing in developed countries. Almost 79 percent population reside in urban areas in such countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">If the same growth continues, the urban population is projected to reach 87 percent in advanced countries. The report has also projected the population growth rate of 0.46 percent in developed countries from 2020 to 2025. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was made public on the occasion of the World Habitat Day which is marked on the first Monday of October at the call of the UN Habitat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, World Habitat Day (WHD 2022) under the theme "Mind the Gap. Leave No One and Place Behind" looks at the problem of growing inequality and challenges in cities and human settlements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Habitat Day 2022 seeks to draw the attention towards the growing inequalities and vulnerabilities that have been exacerbated by the triple ‘C’ crises — COVID-19, climate and conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The United Nations (UN) had started observing the day on the first Monday of October since 1986. Nepal has also started marking the day since 2001. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year, Nepal is observing the World Habitat Day on October 17 by organizing several programmes with the theme 'Necessity of inclusive urban settlement: shared commitment of all". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the eighth day of Dashain festival coincided with the first Monday of October, the ministry decided to mark the day on third Monday of October, the ministry sources said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15904', 'image' => '20221017125636_Kathmandu land.jpg', 'article_date' => '2022-10-17 12:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16162', 'article_category_id' => '1', 'title' => 'CAAN Bans Paragliding Across the Country ', 'sub_title' => '', 'summary' => 'October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN said that the ban has been imposed in the wake of growing cases of paragliding accidents in the country. </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"">CAAN Deputy Director General and Spokesperson Jagannath Niraula told the the state-owned national news agency RSS on Sunday that paragliding has been suspended until another provision is put in place to further strengthening its security system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN decided to ban paragliding flights for the time being so as to manage policies, rules and laws relating to paragliding flight. The aviation governing body would permit the flights after clear laws are devised, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sportsperson Nisim Thapa, 26, died in a paragliding crash at Sarangkot, Pokhara on Sunday. He was competing in the cross-country event of paragliding during the 9th National Games underway in Pokhara when the craft owned by Blue Sky Company suddenly fell off some 700 metre from the sky to the ground.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa sustained injuries and later succumbed to death.</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15903', 'image' => '20221017115935_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-17 11:57:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16161', 'article_category_id' => '1', 'title' => 'Business of Decorative Lights Expected to Shrink by 50 Percent during Tihar', 'sub_title' => '', 'summary' => 'October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Federation of Electrical Entrepreneurs of Nepal, the business of decorative lights may slump due to the strict policy adopted by the government for the import of such items and the impact of global recession.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the federation, every year during the Tihar and Chhath festivals, the business of decorative lights amounts to almost Rs 40 million. However, this year, this amount may drop to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During Tihar and Chhath, the business of other kinds of lights also increases by 10 to 15 percent compared to normal times.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that the trend of changing old and worn out lights and moving to new houses also increase during this festival, so the business also increases during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation complains that, traders are not able to import goods after Nepal Rastra Bank imposed a 100 percent cash margin to open LC for the import of electronic goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudarshan Paudel, president of the federation, said that even small quantities of ordered goods could not enter Nepal due to the closure of both the northern border ckeckpoints (Tatopani and Rasuwagadhi).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the data of the Department of Customs, in the first two months of the current fiscal year, electrical equipment worth Rs 49.50 million entered Nepal, but the amount of bulbs and lights intended for the festivals is yet to be ascertained.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> In Nepal, 55 percent of decorative lights are imported from China and 15 percent from India. As soon as the festival of Dashain is over, people light up their homes, offices, commercial complexes and other places with different colored lights. So, the demand for such lights is high during Tihar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation added that the price of such items also increased this year due to the increase in the value of the US dollar. Recently, the price of the dollar has been on a continuous rise and reached around Rs 132, making the price of electronic materials increase by 20 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“On the one hand, due to fluctuations in the economy, the purchasing power of consumers has decreased, while on the other hand, the price of goods in the market has increased. Due to this, the presence of consumers in the market during Tihar this year is not encouraging. Therefore, the demand for such items seems to decrease automatically,” Paudel said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15902', 'image' => '20221016045321_1665898139.jpg', 'article_date' => '2022-10-16 16:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16160', 'article_category_id' => '1', 'title' => 'Government Fixes Rs 20 Million as Minimum Requirement for FDI', 'sub_title' => '', 'summary' => 'October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI). The government had made such arrangement in the budget for the current fiscal year. The government has reduced the minimum limit required for foreign investment with the objective of increasing investment in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent meeting of the Council of Ministers decided to fix the minimum requirement of FDI per foreigner at Rs 20 million in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the minimum limit for foreign investment was Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the government had raised the minimum limit for foreign investment from Rs 5 million to Rs 50 million in the budget three years ago in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075 BS. Now the minimum limit has been set at Rs 20 million, as per the budget announcement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Finance had presented the proposal to fix the new limit in accordance with the budget announcement to the Council of Ministers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Government Spokesperson Gyanendra Bahadur Karki informed that the minimum limit of FDI has been fixed as per the announcement made in the budget. However, the government has not fixed the ceiling for the maximum FDI in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to foreign investment experts, although the reduction of the minimum limit is positive, it is not possible to attract large investments immediately. It is expected to boost small and medium scale industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the government has been reducing the minimum limit required for FDI time and again, it has failed to attract foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Anjan Neupane, an expert on foreign investment, there is a possibility of additional investment in the IT, tourism, and service sector following the government’s decision to lower the minimum limit. He says the threshold is still too high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, it is not yet easy to attract investment in Nepal. Foreign investors have to face the obstacles on every step that starts after pouring their investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Department of Industry has a one-door system. NRB has two employees. That’s all. The old problems are still there,” said Neupane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Neupane, no procedural reforms have been made in the bodies that deal with foreign investors such as the Department of Industry, the Office of the Registrar of Companies, and the Immigration Department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors are well aware that the obstacles in investment approval, company registration, visa permission, business establishment, and operation have not been solved yet. According to Neupane, more than two dozen agencies, including half a dozen ministries, are still needed to take the project to the construction stage. The one-door system is just for the sake of name.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-September this year, Nepal received investment commitment of Rs 419 billion from 55 countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15901', 'image' => '20221016045201_20220624051313_Foreign investment.jpg', 'article_date' => '2022-10-16 16:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16159', 'article_category_id' => '1', 'title' => 'India Delays Shifting Dusty Cargo to ICP', 'sub_title' => '', 'summary' => 'October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being. The latest notification has given some relief to the importers who were worried after the Indian customs issued a notification that all imports and exports passing through this point will be transferred to ICP from this Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Northern Department of the Ministry of External Affairs of India issued a notice on Friday informing that the decision to completely stop the import and export of dusty cargo through the old border point has been postponed for the time being. The department said that the previous decision will not be implemented until January 1. However, importers are still confused about what will happen after January 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India said that the decision to shift the checkpoint for the import and export of dusty cargo by one and a half months was taken upon the request of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had made such request through the Indian Embassy in Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Vice President of Birgunj Chamber of Industry and Commerce, Madhav Rajpal said that the importers of Birgunj had requested the government to take initiative saying that the necessary infrastructure has not been prepared to move the entire dusty cargo to the ICP.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Earlier, India's Raxaul Customs had issued a notice stating that the import and export of dusty cargo will take place from the ICP from July 1. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal said that the main problem is the narrow road connecting the Raxaul Railway and the ICP. He argued that because the road is narrow, it is not possible to transport 300 to 400 trucks a day.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has also mentioned in its notification that the decision has been postponed for the time being as the infrastructure is not ready.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the ICP has been fully operational, the Indian side has been pressing to shift all the import and export of the Birgunj-Raxaul border to the ICP. Even after four years of operating the ICP, dusty cargo like coal, iron ore, slag and some quantity of industrial raw materials including iron billet, and iron roll are still entering through the old Raxaul-Birgunj route. Salt and fertilizer are also unloaded in Raxaul and imported into Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of a suitable place for dusty cargo management on the Nepal side, there is no other alternative to the Raxaul-Birgunj route. Previously, the supply of dusty cargo was disrupted due to protests by the local residents of Raxaul.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Loading and unloading of clinker was stopped there five years ago due to the obstruction of the locals of Raxaul. At that time, a team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, suggested that such cargo could be managed at three locations in Birgunj.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since then, Indian customs has repeatedly given ultimatums to remove the dusty cargo from there but to no avail.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15900', 'image' => '20221016040138_1665863484.Clipboard01.jpg', 'article_date' => '2022-10-16 16:00:48', '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
