September 15: Experts have voiced their concerns regarding the failure of the state to utilize the allocated capital on time.…
September 15: Experts have voiced their concerns regarding the failure of the state to utilize the allocated capital on time.…
September 15: The government has prepared a concept paper to promote local products under the heading of the 'Prime Minister Nepali Production and Consumption Promotion Programme…
September 15: China has expressed its readiness to reopen its border with…
September 15: The Federation of Nepal Petroleum Transport Entrepreneurs has withdrawn its protest programmes following an understanding with the…
September 15: Nepal imports most of the petroleum products required for the country through Birgunj customs.…
September 14: Finance Minister Janardan Sharma informed world leaders that Nepal is one of the most vulnerable countries in the world in view of climate change due to its climate-dependent economy and limited adaptation…
September 14: The Hotel Association of Nepal is preparing to organize Nepal Hospitality Conclave for the first time in…
September 14: The government has decided to release Rs 1 billion to settle the insurance claims related to Covid-19 which has been pending since a long…
September 14: Visiting Chief of the Chinese National People's Congress of the People's Republic of China, Li Zhanshu, paid a courtesy call on Prime Minister Sher Bahadur Deuba and leader of the main opposition party as well as former Prime Minister KP Sharma Oli on…
September 14: Nepal received foreign direct investment of over Rs 227 billion from 55 countries as of mid-July this…
September 14: The government has approved concessional loan of Rs 35 billion (USD 275 million) to be received from the World…
September 13: The taskforce formed by the government to recommend measures to curb loan sharking has submitted its report to Home Minister Bal Krishna Khand.…
September 13: NADA Automobiles Association of Nepal is going to organize an exhibition of electric vehicles from September 22.…
September 13: A fire that started at an electric scooter showroom in South India on Monday killed at least eight people and injured…
The minimum paid-up capital of Rs 3 billion fixed for stock exchange company does not apply for the stock exchange company which is currently in…
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', '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"">September 15: Experts have voiced their concerns regarding the failure of the state to utilize the allocated capital on time. They expressed such view during the fifth policy dialogue of the ECON Talks Series titled “Accelerating capital expenditure to boost infrastructural development in Nepal” organized by Daayitwa, a non-profit, non-governmental organization, in collaboration with the National Democratic Institute (NDI) on Tuesday, September 13. </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 dialogue featured personalities like Member of Parliament and former Minister for Urban Development Ram Kumari Jhakri, CNI Vice President Birendra Raj Pandey, Secretary of National Planning Commission Kewal Prasad Bhandari, former Secretary Kishore Thapa and Urban Planning Expert at the IoE, Pulchowk, Sangeeta Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The participants of the dialogue explored issues such as the reasons why capital expenditure is not utilized fully in Nepal, the challenges faced during project implementation, lack of coordination between the government, development partners and private sectors, inefficient work of relevant stakeholders, very rigid rules and regulations, adapting the changing dynamics of urbanization, need of technological advancement in infrastructural development, lack of coordination between the central government and the provincial government, among others.</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"">While addressing the event, MP Ram Kumari Jhakri stressed on the need to amend the acts and regulations related to construction and infrastructure development. </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"">“Inefficiency of the government as well as the private sector, projects not completing the project-cycle, insufficient financial resources in projects than ear marked, and running to select projects only after annual budget allocation are the four main reasons why capital expenditure is not utilized in Nepal,” said Jhakri.</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"">Former Secretary of the Government of Nepal, Krishna Gyawali said that we need to have a “clear vision” of what kind of development we want. “Only making roads and bridges is not development, let’s not concretize development. Development projects need to be inclusive and equitable,” said Gyawali. </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 organizer of the policy dialogue plans to present the summary of these dialogues in the house of representative to facilitative effective policy making and implementation to strengthen the economy of the nation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15745', 'image' => '20220915033535_837A0441.JPG', 'article_date' => '2022-09-15 15:34:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16003', 'article_category_id' => '1', 'title' => 'Government Prepares Concept Paper to Increase Domestic Production', 'sub_title' => 'Plans to Increase Contribution of Productive Sector to 15% of GDP', 'summary' => 'September 15: The government has prepared a concept paper to promote local products under the heading of the 'Prime Minister Nepali Production and Consumption Promotion Programme 2079-2089'.', '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"">September 15: The government has prepared a concept paper to promote local products under the heading of the 'Prime Minister Nepali Production and Consumption Promotion Programme 2079-2089'. The concept paper aims to increase the contribution of the manufacturing sector to the Gross Domestic Product (GDP) to 15 per cent in the next decade.</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"">Currently, the contribution of the manufacturing sector to the GDP is 5.9 percent, which is declining. In the eighth plan, the contribution of this sector was 12.7 per cent. This shows that the contribution of the productive sector is gradually decreasing. In the budget statement for the current fiscal year, the government has allocated Rs 3.45 billion for the domestic production and consumption promotion programme.</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 Ministry of Industry, Commerce and Supplies has prepared the concept paper to implement the programme for the growth of Nepal’s production, job creation and export-oriented business.</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"">Former secretaries, businessmen and other stakeholders who participated in a meeting organised by the ministry on Wednesday to discuss the concept paper said that this concept won't work because it focuses only on self-sufficiency and comparative advantage.</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"">Nepali Congress MP Gagan Kumar Thapa said that unless the Ministry of Industry takes the lead to increase the production of goods, curb smuggling and low invoicing in border areas, the problem will remain as it is. Giving examples of products like footwear, school bags, and garments, he said, “Let's arrange for public bodies to purchase and consume up to 60/70 percent of domestic products.”</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"">Thapa said that it is also necessary to pay attention to make arrangement of at least 20 percent space for domestic products in the city's supermarkets.</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"">Former Secretary Bimal Koirala said that the country cannot become self-sufficient just by announcing new programmes with new slogans.</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"">It is necessary to increase the competitiveness of the industry." </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"">Former Secretary Rameshwar Khanal was doubtful that the country would become self-sufficient in the current situation. Khanal said that the use of foreign goods is mandatory even for domestic production, adding, 'This concept is not correct because there is an inter-dependence in everything.” </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"">Ex-Secretary Khanal said that although the service sector has been given priority, there is no clear policy on this matter.</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""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15744', 'image' => '20220915030705_gdp.jpg', 'article_date' => '2022-09-15 15:06:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16002', 'article_category_id' => '1', 'title' => 'China Ready to Open Northern Border Immediately', 'sub_title' => '', 'summary' => 'September 15: China has expressed its readiness to reopen its border with Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">September 15: China has expressed its readiness to reopen its border with Nepal. High-ranking Chinese officials during their official visit to Nepal said that they are ready to resolve the issues related to the import of goods to Nepal from China which is currently suspended due to lockdown in Tibet after the outbreak of coronavirus.</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"">As a result, Nepal-bound goods are stuck across the Tatopani and Rasuwagadhi border points.</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"">Chief of the Chinese People's Congress, Li Zhanshu, who is on a visit to Nepal said in a courtesy meeting with President Bidya Devi Bhandari on Wednesday that the checkpoints will be operational immediately.</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 a source at the President's Office, Chinese leader Li spoke with Chinese officials who are looking at the trade sector before meeting with President Bhandari and said that the border crossings will be opened soon.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A senior official of the President's Office, quoting Chinese leader Li said, "Before coming here, I spoke with the Chinese official who oversees the business sector. After this message reached our President Xi Jinping, I can now tell the President that the border crossing will be operational immediately."</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"">Nepalese businessmen are facing problems due to the obstruction in both the major border crossings between Nepal and China. They have been urging the Nepalese government to take initiative to reopen these checkpoints.</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"">China had sealed the Rasuwagadhi border from August 6 and Tatopani border from August 10 due to the increase in the number of Covid-19 infections in Tibet. China-Nepal trade by land has been affected for the last three years due to China adopting strict measures to control Covid-19.</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 Nepal Trans Himalaya Border Commerce Association (NTHBCA), 400 containers carrying goods worth about Rs 5 billion are currently stuck along the road across the border.</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 owner of New Sugam Enterprises and general secretary of the association, Bharat Karki informed that currently, 350 to 400 containers are stopped at Kerung and Khasa. His company imports goods from China. There are festive goods in the Nepal-bound containers. </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"">“China has not allowed the containers carrying clothes, shoes, Chinese walnuts to enter Nepal,” said Karki. Businessmen are under a lot of stress due to the closure of the border. Businessmen have been asking for diplomatic initiatives for a long 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 delegation led by Li is all set to wrap up a four-day visit to Nepal and return back today (September 15).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15743', 'image' => '20220915020011_1663217316.Rasuwagadi_Naka 1.jpg', 'article_date' => '2022-09-15 13:59:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16001', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs Call Off Protest Programmes', 'sub_title' => '', 'summary' => 'September 15: The Federation of Nepal Petroleum Transport Entrepreneurs has withdrawn its protest programmes following an understanding with the government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 15: The Federation of Nepal Petroleum Transport Entrepreneurs has withdrawn its protest programmes following an understanding with the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation called off its strikes after reaching an understanding with the concerned officials on Wednesday regarding price adjustment. The federation took a decision to this effect after a meeting with Minister for Industry, Commerce and Supplies Dilendra Prasad Badu and Nepal Oil Corporation’s Executive Director Umesh Thani on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the federation to address their demands within September 23. A joint statement issued by the President of the federation Khageshwar Bohora and NOC Director Birendra Goit states that the transport entrepreneurs have agreed to ease the supply of petroleum products following the understanding with the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation has been protesting since the last few months demanding a revision of fare. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation has been saying that they will not be able to operate tankers to transport petroleum products at the current rate. They have been demanding revision of transportation fare due to the rise in prices of petroleum products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An expert group formed by the NOC some months ago had also suggested increasing the transportation fare. The study group has suggested increasing the fare by 3 to 16 percent depending on the route. However, the NOC leadership said that the suggestions made by the expert group was excessively high and handed over the report to Pulchowk Engineering College for further study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The protest of transport entrepreneurs had recently affected flight schedules of domestic airline companies due to lack of fuel in airports outside Kathmandu.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15742', 'image' => '20220915123014_20220812104846_CQjUX_dUsAA8_3_.jpg', 'article_date' => '2022-09-15 12:29:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16000', 'article_category_id' => '1', 'title' => 'Quantity of Fuel Import Drops but the Cost Increases', 'sub_title' => '', 'summary' => 'September 15: Nepal imports most of the petroleum products required for the country through Birgunj customs. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 15: Nepal imports most of the petroleum products required for the country through Birgunj customs. However, the import of petroleum products from this customs point has declined in the first month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the quantity of petroleum products imported into the country has declined the cost incurred has increased during the review month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Department of Customs, the cost of importing petroleum products has increased due to the rise in fuel prices in the international market. This has also resulted in a decline in imports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The country spent Rs 16.6 billion for the import of petroleum products from this customs point. During the corresponding period of last fiscal year, Rs 11.4 billion was spent for the import of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The state-owned Nepal Oil Corporation incurred 45 percent more cost for the import of fuel in the first month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The import of diesel and petrol has declined this year. Among different kinds of fuel, diesel is consumed the most in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Birgunj Customs, Nepal spent a total of Rs 6.87 billion to import 50,125 kiloliters of diesel during the review month. During the corresponding period of last fiscal year, the country had spent Rs 4.81 billion to import 69,180 kilolitres of diesel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Nepal spent Rs 3.69 billion to import 31,620 kilolitres of petrol in the first month of the current fiscal year. Last year, the NOC had spent Rs 2.43 billion in the same month to import 32,468 kilolitres of petrol.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the import of coal, which is used as a raw material for producing cement, has also declined significantly. During the first month of last fiscal year, the importers had brought a total of 53.6 million kilograms of coal worth Rs 770 million but this year, only 44.6 million kilograms of coal worth Rs 1.23 billion was imported into the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The import of liquefied petroleum gas (LPG) has increased marginally. The country imported 22.64 million kg of LPG worth Rs 2.91 billion in the first month of the current fiscal year against 22.31 million kg of cooking gas worth Rs 2.1 billion during the corresponding period of last fiscal year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15741', 'image' => '20220915115242_1663218767.Birjung Bhansar.jpg', 'article_date' => '2022-09-15 11:52:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15999', 'article_category_id' => '1', 'title' => 'Nepal Facing Climate-Induced Risks due to Climate-Dependent Economy', 'sub_title' => '', 'summary' => 'September 14: Finance Minister Janardan Sharma informed world leaders that Nepal is one of the most vulnerable countries in the world in view of climate change due to its climate-dependent economy and limited adaptation capacity. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: Finance Minister Janardan Sharma informed world leaders that Nepal is one of the most vulnerable countries in the world in view of climate change due to its climate-dependent economy and limited adaptation capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In his address to the second edition of the Green Climate Fund Programming Conference held in Incheon of South Korea on Tuesday, Finance Minister Sharma said Nepal has been gradually grappling with crisis due to climate change. The conference that kicked off on Tuesday will conclude on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in global warming, incidents of natural calamities have increased, glacial lakes have been bursting out and frequency of floods and landslides is also on the rise, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Despite negligible contribution to the global emission of Green House Gases, the least developed countries are bearing the brunt of negative impact of the climate change, the minister added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As a member-nation of the United Nations Framework Convention on Climate Change (UNFCCC), Nepal has actively advanced its efforts and engagement in the global fight against climate change," he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Sharma further noted that all countries should come up with concrete measures to reduce GHG emission so as to limit the rise of global temperature to an average of 1.5 degrees Celsius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister also informed that Nepal, as an ambitious climate change stakeholder, has devised numerous plans to enhance the climate change resilient capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Climate Change Policy, 2019 has explicitly set the goal of building climate resilient society and thereby contributing to the social-economic prosperity of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In materializing the goal, the national policy has taken several sub-policies, strategies and measures in the key thematic areas of climate change, the finance minister said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that Nepal has already signed the Paris Agreement and the UNFCCC. Nepal has set a target of becoming net zero emission country by 2045, he said, adding that the country has adopted a policy to spend at least 80 percent of the climate finance to respond to the negative impacts of climate change. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15740', 'image' => '20220914031045_grippa-index2.jpg', 'article_date' => '2022-09-14 15:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15998', 'article_category_id' => '1', 'title' => 'HAN Organising Hospitality Conclave for the First Time in Nepal', 'sub_title' => '', 'summary' => 'September 14: The Hotel Association of Nepal is preparing to organize Nepal Hospitality Conclave for the first time in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 14: The Hotel Association of Nepal (HAN) is all set to organize the Nepal Hospitality Conclave for the first time in Nepal in collaboration with BeanstalkAsia Nepal and WaterComm. According to HAN, the first edition of the conclave is to be held on September 25 at the Soaltee Hotel Kathmandu for which the registrations are now open. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">HAN President Shreejana Rana said in a statement that Nepal's first hospitality conclave will help find solutions to the current problems faced by the hotel sector and the ones that might arise in the future.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Attention will be given to innovative ways of marketing to keep afloat the business that is recovering in the aftermath of the Covid-19 pandemic,” the statement quoted Rana as saying. It is believed that the conclave will play a central role in maintaining the standard of Nepal’s hospitality industry and overall tourism development through a day of discussion with national and international industry experts. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Senior Vice President of HAN, Binayak Shah, said that the number of tourists seen in the world market after the outbreak of coronavirus is limited, but since the market is open to all, it is a challenge to bring tourists to Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"There is an intense competition in the world market to attract tourists, pre-bookings have become common now," Shah said, adding, "We want to bring more tourists to Nepal. For this, we are going to hold a conference to decide the strategy to be adopted and to see the practices of other countries. The competition has increased, so a new strategy is necessary.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Shah, the tourism sector is going towards normalcy and it seems that the budget allocated by the government and monetary policy as well as the programmes announced so far will not be sufficient to revitalize the tourism industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There will be 7 sessions on different topics at the conclave. These sessions will come up with suggestions on policy and long-term policies to be adopted for the operation of the hotels and they will be presented to the relevant agencies of the government for implementation, the statement released by HAN says.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Subodh Thapa, the co-founder of the conclave, the goal of the conclave is to help the Nepali Hospitality Industry thrive by uniting all the representatives from its cross section for a day of discussion about the industry trends with the industry experts. NHC also provides a pavilion to exhibit relevant products and services, and a platform to network amongst each other. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The title sponsor of the Nepal Hospitality Conclave is the Sagtani Exim. The registration for the conclave is now open and the tickets can be purchased through the official website of the conclave (http://www.nepalhospitalityconclave.biz/) along with additional information regarding the event. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '15739', 'image' => '20220915032106_1663140877.jpg', 'article_date' => '2022-09-14 15:08:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15997', 'article_category_id' => '1', 'title' => 'Government to Release Rupees One Billion to Settle Covid-19 Insurance Claims', 'sub_title' => '', 'summary' => 'September 14: The government has decided to release Rs 1 billion to settle the insurance claims related to Covid-19 which has been pending since a long time.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 14: The government has decided to release Rs 1 billion to settle the insurance claims related to Covid-19 which has been pending since a long time. A meeting of the Council of Ministers held last week took a decision to this effect.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Insurance companies are yet to settle insurance claims of more than Rs 11 billion related to coronavirus due to the delay on part of the government to release the funds. The government, the Insurance Board and the insurance companies are all responsible for settling the claims related to coronavirus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that all non-life insurance companies had denied the settlement of coronavirus insurance claims in July 2020 after the government delayed the release of the allocated budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All 20 non-life insurance companies formally stopped the payment of coronavirus insurance since July 29, 2020 at the call of the Nepal Insurers Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The companies had delayed the settlement of claims related to coronavirus insurance citing the delay on part of the government in releasing the budget. The companies argued that they were facing difficulties in settling the claims from their funds after the government failed to release the promised money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Later in December the same year, the insurance companies started expediting the process of claims settlement following assurance from the Ministry of Finance.</span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15738', 'image' => '20220914023807_20210801125408_20200426022909_1587852673.jpg', 'article_date' => '2022-09-14 14:37:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15996', 'article_category_id' => '1', 'title' => 'Li Discusses Bilateral Trade with Nepal during his Official Visit', 'sub_title' => '', 'summary' => 'September 14: Visiting Chief of the Chinese National People's Congress of the People's Republic of China, Li Zhanshu, paid a courtesy call on Prime Minister Sher Bahadur Deuba and leader of the main opposition party as well as former Prime Minister KP Sharma Oli on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: Visiting Chief of the Chinese National People's Congress of the People's Republic of China, Li Zhanshu, paid a courtesy call on Prime Minister Sher Bahadur Deuba and leader of the main opposition party as well as former Prime Minister KP Sharma Oli on Tuesday.</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"">Li, who arrived in Nepal for a four-day official visit on Monday at the invitation of Speaker Agni Prasad Sapkota, had earlier held meetings with National Assembly Chairperson Ganesh Prasad Timilsina, CPN (Maoist Centre) Chair Puhspa Kamal Dahal and Foreign Minister Dr Narayan Khadka. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his meeting with PM Deuba, the two sides discussed about bilateral trade, investment, connectivity, passenger flights, and opening border ports among other issues.</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 Chinese delegation led by Li praised Nepal’s One-China Policy and the stance taken by the Government of Nepal not to allow any elements to use its territory to plot against China.</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"">On the occasion, Prime Minister Deuba thanked China for its continued support for the development of Nepal.</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"">Meanwhile, Li assured that the border dry ports will be opened as soon as the Covid-19 pandemic is brought under control in Tibet autonomous region of China.</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"">Li also assured that the Chinese government will facilitate in transporting goods for the upcoming festivals. </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"">Nepal-bound container goods ordered by Nepali importers are currently stuck across the northern border after China closed the Tatopani and Rasuwagadhi customs citing Covid-19 outbreak in Tibet.</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 Chinese delegation also pledged to implement the projects in Nepal with Chinese assistance. China also promised to support Nepal graduate from LDC to developing nation.</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"">Li will wrap up his four-day visit and return back to China on Thursday.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15737', 'image' => '20220914014307_RS-KTM-PMDeubaaa.jpg', 'article_date' => '2022-09-14 13:42:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15995', 'article_category_id' => '1', 'title' => 'FDI in Nepal Climbs to Rs 228 Billion ', 'sub_title' => '', 'summary' => 'September 14: Nepal received foreign direct investment of over Rs 227 billion from 55 countries as of mid-July this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 14: Nepal received foreign direct investment of over Rs 227 billion from 55 countries as of mid-July this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a survey on foreign direct investment (FDI) conducted by the Nepal Rastra Bank, the FDI stocks in Nepal climbed to Rs 227.9 billion at the end of the fiscal year (FY 2020/21) with an increase of 14.8 percent compared to the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey report released by the central bank on Tuesday, the share of paid-up capital in Nepal’s FDI stocks is 53.9 percent whereas the reserves account for 31.6 percent, and the share of loans is 14.5 percent. The overall foreign direct investment has increased as the share of paid-up capital increased by 13.7 percent, says the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB reports shows that foreigners have invested mostly in banks and financial institutions, insurance companies, projects hotels and restaurants.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey, the industrial sector accounts for about 60.5 percent of the total FDI stocks of which hydropower sector constitutes 30.8 percent and manufacturing sector 29.5 percent of total FDI stocks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">About 39.4 percent of total FDI stocks are in the service sector of which financial and insurance sector constitutes 26.9 percent, accommodation and food services sector 5.7 percent, and information and communication sector 4.8 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey covered 197 firms out of 604 companies that have taken FDI approval from Nepal Rastra Bank as of the end of FY 2020/21. The Research Department of NRB informed that the details on FDI stocks were obtained from the financial statements of the surveyed companies as well as from standard questionnaire. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of total FDI stocks, neighbouring India ranks top with Rs 75.8 billion followed by China (Rs 33.0 billion), Ireland (Rs 16.5 billion), Singapore (Rs 15.5 billion) and Saint Kitts and Nevis (Rs14.5 billion).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NRB, the capacity utilization of FDI-based manufacturing companies stands at 64.9 percent, while the profitability of FDI companies remains at 14.7 percent in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15736', 'image' => '20220914122931_Foreign investment.jpg', 'article_date' => '2022-09-14 12:28:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15994', 'article_category_id' => '1', 'title' => 'Cabinet Approves Concessional Loan of Rs 35 Billion from World Bank ', 'sub_title' => '', 'summary' => 'September 14: The government has approved concessional loan of Rs 35 billion (USD 275 million) to be received from the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: The government has approved concessional loan of Rs 35 billion (USD 275 million) to be received from the World Bank. According to Government Spokesperson Gyanendra Bahadur Karki, the loan would be spent on programmes to promote transportation and trade connectivity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also the Minister for Communication and Information Technology, confirmed this during a press conference organized on Tuesday to share the decisions taken by the Council of Ministers a day ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Karki said the cabinet meeting also decided to form a talks team for receiving a grant of USD 12 million from the Asian Development Bank (ADB) for strengthening the system to protect and uplift women. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting has also decided to approve a team of Finance Minister Janardan Sharma to participate in the joint meeting of the World Bank Group and the International Monetary Fund in Washington DC of the United States of America. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15735', 'image' => '20220914112204_World.jpg', 'article_date' => '2022-09-14 11:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15993', 'article_category_id' => '1', 'title' => 'Taskforce Submits Report on Loan Sharking ', 'sub_title' => '', 'summary' => 'September 13: The taskforce formed by the government to recommend measures to curb loan sharking has submitted its report to Home Minister Bal Krishna Khand. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 13: The taskforce formed by the government to recommend measures to curb loan sharking has submitted its report to Home Minister Bal Krishna Khand. Coordinator of the taskforce Dr Bhishma Kumar Bhusal submitted the report to Minister Khand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As stated in the report, a total of 2,289 complaints were received relating to loan sharking and of them 59 cases were settled while seven cases have been filed in the concerned courts. Likewise, police have been probing into seven other issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the victims have filed more than four complaints against 33 loan sharks accusing them of charging exorbitant interest rates to the poor people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report has included issues such as the compulsion of the poor people to seek loan with loan sharks, reasons behind lack of access to banks and financial institutions among the poor farmers, processes to receive loans from such informal channels, viscous cycle of exorbitant interest, international practices on the actions against loan sharks and other issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the recommendations made in the report, the local administration would continue the investigation against the complaints related to this crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recommendations of the taskforce vary from political commitment to government's policy and programme, raising awareness and legal reforms, financial literacy and fiscal access and others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had formed the taskforce a month ago seeking recommendation to curb loan sharking. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15734', 'image' => '20220914105247_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2022-09-14 10:52:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15990', 'article_category_id' => '1', 'title' => 'NADA EV Expo from September 22', 'sub_title' => '', 'summary' => 'September 13: NADA Automobiles Association of Nepal is going to organize an exhibition of electric vehicles from September 22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 13: NADA Automobiles Association of Nepal is going to organize an exhibition of electric vehicles from September 22. NADA informed during a press conference organized on Monday that “NADA EV Expo 2022” will be organized from September 22 to September 25 at Bhrikutimandap exhibition hall in Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NADA said that the fair with focus on electric vehicles is being organized for the first time in Nepal. The fair will feature stalls for the purchase of electric vehicles, their parts and financial services.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Electricity Authority is a supporting organization of the fair where USAID Clean Air is the knowledge partner. USAID Clean Air will conduct a three-day informative conference called “EV Chautari” as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">CEAT Tyre is the prime sponsor of the fair whereas Shikhar Insurance Company is the co-sponsor. Anup Baral, chairman of the NADA EV Expo Committee informed that Khalti app is associated as the digital payment partner with the fair. The manager of the fair is Global Exposition and Management Services. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dhruba Bahadur Thapa, president of NADA, informed that public’s interest in electric vehicles is increasing in Nepal and at least 10 percent of the vehicles available in the market are electric.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the information of NADA, there will be 51 stalls and blocks in the fair. Similarly, there will be stalls of seven brands of four-wheelers, one brand of three-wheelers, 16 brands of two-wheelers, three brands of tires, two brands of batteries, and 9 brands of spare parts. Also, garage equipment company, auto magazine and four financial institutions will have stalls.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NADA says that tickets can be purchased online through the Khalti app. Tickets purchased from Monday till September 22 will get discounts. There is an offer of 25% cash back when buying tickets from the Khalti app. The ticket price is fixed at Rs150 for students and Rs 200 for the general public.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15732', 'image' => '20220913042706_1663024593.Clipboard03.jpg', 'article_date' => '2022-09-13 16:26:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15992', 'article_category_id' => '1', 'title' => 'Fire at E-Scooter Showroom in India Kills Eight ', 'sub_title' => '', 'summary' => 'September 13: A fire that started at an electric scooter showroom in South India on Monday killed at least eight people and injured 11.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 13: A fire that started at an electric scooter showroom in South India on Monday killed at least eight people and injured 11, Reuters reported citing the police. According to the news agency, it was the deadliest such incident involving electric vehicles in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“A spate of electric scooter fires this year has alarmed the government, which is keen to promote use of such two-wheelers in its fight against pollution,” Reuters further stated. Early investigations have identified faulty battery cells and battery modules among the main causes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The latest fire broke out late on Monday in a hotel basement housing the showroom with some two dozen electric scooters in the southern city of Secunderabad, Reuters said. Citing the local police, Reuters said that the fire has been brought under control and an investigation has been launched.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the dead were occupants of the hotel, which was engulfed by smoke.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We don't know if the fire started because of overcharging and then spread or whether it started elsewhere. That is still being established," Reuters quoted police official Chandana Deepti as saying.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The identity of the dealer and the maker of scooters being sold was not immediately clear.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the news report, police and firefighters used cranes and other equipment to pluck stranded hotel guests from upper floors of the four-storey building as smoke billowed out of its windows.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Those staying on the first and second floors were overpowered by smoke and the maximum casualties are from those floors," CV Anand, the police chief of the neighbouring city of Hyderabad, told ANI.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Reuters, India launched an investigation over safety concerns in March after a string of e-scooter fires, including one in which a man and his daughter died when their e-bike "went up in flames".</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“India wants e-scooters and e-bikes to make up 80% of total two-wheeler sales by 2030, from about 2% now.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15731', 'image' => '20220913044634_20220330070939_EV fire.jpg', 'article_date' => '2022-09-13 16:45:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15989', 'article_category_id' => '1', 'title' => 'Capital Requirement Fixed for New Stock Exchange won't be Applicable for NEPSE', 'sub_title' => '', 'summary' => 'The minimum paid-up capital of Rs 3 billion fixed for stock exchange company does not apply for the stock exchange company which is currently in operation.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 13: The minimum paid-up capital of Rs 3 billion fixed for stock exchange company does not apply for the stock exchange company which is currently in operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal made such arrangement by announcing the second amendment to the Securities Market Operation Regulations, 2079 on Monday. There is also a provision in the revised regulations for the new stock exchange to issue at least 30 per cent of its issued capital shares to the general public within two years of conducting business.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It is also mentioned in the regulations that this arrangement to issue IPO to the general public does not apply to the currently operating stock exchange. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Arrangements have been made so that only private companies or institutions established according to the law can acquire shares of the new stock exchange company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Provision has been made for the new stock exchange company to take necessary cooperation and technical assistance from internationally renowned securities market regarding the transaction system and other related technologies. Provisions have also been made in the regulations that business system servers and data hosting cannot be kept abroad without the consent of the Government of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The state-owned Nepal Stock Exchange is the only stock exchange company currently operation in Nepal. Neighbouring India has two stock exchange companies.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15730', 'image' => '20220913042622_1663042405.1662772852.nepse.jpg', 'article_date' => '2022-09-13 16:17:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16004', 'article_category_id' => '1', 'title' => 'Experts Concerned About Government’s Failure to Utilize Allocated Budget', 'sub_title' => '', 'summary' => 'September 15: Experts have voiced their concerns regarding the failure of the state to utilize the allocated capital on time. ', '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"">September 15: Experts have voiced their concerns regarding the failure of the state to utilize the allocated capital on time. They expressed such view during the fifth policy dialogue of the ECON Talks Series titled “Accelerating capital expenditure to boost infrastructural development in Nepal” organized by Daayitwa, a non-profit, non-governmental organization, in collaboration with the National Democratic Institute (NDI) on Tuesday, September 13. </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 dialogue featured personalities like Member of Parliament and former Minister for Urban Development Ram Kumari Jhakri, CNI Vice President Birendra Raj Pandey, Secretary of National Planning Commission Kewal Prasad Bhandari, former Secretary Kishore Thapa and Urban Planning Expert at the IoE, Pulchowk, Sangeeta Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The participants of the dialogue explored issues such as the reasons why capital expenditure is not utilized fully in Nepal, the challenges faced during project implementation, lack of coordination between the government, development partners and private sectors, inefficient work of relevant stakeholders, very rigid rules and regulations, adapting the changing dynamics of urbanization, need of technological advancement in infrastructural development, lack of coordination between the central government and the provincial government, among others.</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"">While addressing the event, MP Ram Kumari Jhakri stressed on the need to amend the acts and regulations related to construction and infrastructure development. </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"">“Inefficiency of the government as well as the private sector, projects not completing the project-cycle, insufficient financial resources in projects than ear marked, and running to select projects only after annual budget allocation are the four main reasons why capital expenditure is not utilized in Nepal,” said Jhakri.</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"">Former Secretary of the Government of Nepal, Krishna Gyawali said that we need to have a “clear vision” of what kind of development we want. “Only making roads and bridges is not development, let’s not concretize development. Development projects need to be inclusive and equitable,” said Gyawali. </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 organizer of the policy dialogue plans to present the summary of these dialogues in the house of representative to facilitative effective policy making and implementation to strengthen the economy of the nation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15745', 'image' => '20220915033535_837A0441.JPG', 'article_date' => '2022-09-15 15:34:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16003', 'article_category_id' => '1', 'title' => 'Government Prepares Concept Paper to Increase Domestic Production', 'sub_title' => 'Plans to Increase Contribution of Productive Sector to 15% of GDP', 'summary' => 'September 15: The government has prepared a concept paper to promote local products under the heading of the 'Prime Minister Nepali Production and Consumption Promotion Programme 2079-2089'.', '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"">September 15: The government has prepared a concept paper to promote local products under the heading of the 'Prime Minister Nepali Production and Consumption Promotion Programme 2079-2089'. The concept paper aims to increase the contribution of the manufacturing sector to the Gross Domestic Product (GDP) to 15 per cent in the next decade.</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"">Currently, the contribution of the manufacturing sector to the GDP is 5.9 percent, which is declining. In the eighth plan, the contribution of this sector was 12.7 per cent. This shows that the contribution of the productive sector is gradually decreasing. In the budget statement for the current fiscal year, the government has allocated Rs 3.45 billion for the domestic production and consumption promotion programme.</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 Ministry of Industry, Commerce and Supplies has prepared the concept paper to implement the programme for the growth of Nepal’s production, job creation and export-oriented business.</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"">Former secretaries, businessmen and other stakeholders who participated in a meeting organised by the ministry on Wednesday to discuss the concept paper said that this concept won't work because it focuses only on self-sufficiency and comparative advantage.</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"">Nepali Congress MP Gagan Kumar Thapa said that unless the Ministry of Industry takes the lead to increase the production of goods, curb smuggling and low invoicing in border areas, the problem will remain as it is. Giving examples of products like footwear, school bags, and garments, he said, “Let's arrange for public bodies to purchase and consume up to 60/70 percent of domestic products.”</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"">Thapa said that it is also necessary to pay attention to make arrangement of at least 20 percent space for domestic products in the city's supermarkets.</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"">Former Secretary Bimal Koirala said that the country cannot become self-sufficient just by announcing new programmes with new slogans.</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"">It is necessary to increase the competitiveness of the industry." </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"">Former Secretary Rameshwar Khanal was doubtful that the country would become self-sufficient in the current situation. Khanal said that the use of foreign goods is mandatory even for domestic production, adding, 'This concept is not correct because there is an inter-dependence in everything.” </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"">Ex-Secretary Khanal said that although the service sector has been given priority, there is no clear policy on this matter.</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""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15744', 'image' => '20220915030705_gdp.jpg', 'article_date' => '2022-09-15 15:06:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16002', 'article_category_id' => '1', 'title' => 'China Ready to Open Northern Border Immediately', 'sub_title' => '', 'summary' => 'September 15: China has expressed its readiness to reopen its border with Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">September 15: China has expressed its readiness to reopen its border with Nepal. High-ranking Chinese officials during their official visit to Nepal said that they are ready to resolve the issues related to the import of goods to Nepal from China which is currently suspended due to lockdown in Tibet after the outbreak of coronavirus.</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"">As a result, Nepal-bound goods are stuck across the Tatopani and Rasuwagadhi border points.</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"">Chief of the Chinese People's Congress, Li Zhanshu, who is on a visit to Nepal said in a courtesy meeting with President Bidya Devi Bhandari on Wednesday that the checkpoints will be operational immediately.</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 a source at the President's Office, Chinese leader Li spoke with Chinese officials who are looking at the trade sector before meeting with President Bhandari and said that the border crossings will be opened soon.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A senior official of the President's Office, quoting Chinese leader Li said, "Before coming here, I spoke with the Chinese official who oversees the business sector. After this message reached our President Xi Jinping, I can now tell the President that the border crossing will be operational immediately."</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"">Nepalese businessmen are facing problems due to the obstruction in both the major border crossings between Nepal and China. They have been urging the Nepalese government to take initiative to reopen these checkpoints.</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"">China had sealed the Rasuwagadhi border from August 6 and Tatopani border from August 10 due to the increase in the number of Covid-19 infections in Tibet. China-Nepal trade by land has been affected for the last three years due to China adopting strict measures to control Covid-19.</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 Nepal Trans Himalaya Border Commerce Association (NTHBCA), 400 containers carrying goods worth about Rs 5 billion are currently stuck along the road across the border.</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 owner of New Sugam Enterprises and general secretary of the association, Bharat Karki informed that currently, 350 to 400 containers are stopped at Kerung and Khasa. His company imports goods from China. There are festive goods in the Nepal-bound containers. </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"">“China has not allowed the containers carrying clothes, shoes, Chinese walnuts to enter Nepal,” said Karki. Businessmen are under a lot of stress due to the closure of the border. Businessmen have been asking for diplomatic initiatives for a long 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 delegation led by Li is all set to wrap up a four-day visit to Nepal and return back today (September 15).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15743', 'image' => '20220915020011_1663217316.Rasuwagadi_Naka 1.jpg', 'article_date' => '2022-09-15 13:59:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16001', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs Call Off Protest Programmes', 'sub_title' => '', 'summary' => 'September 15: The Federation of Nepal Petroleum Transport Entrepreneurs has withdrawn its protest programmes following an understanding with the government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 15: The Federation of Nepal Petroleum Transport Entrepreneurs has withdrawn its protest programmes following an understanding with the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation called off its strikes after reaching an understanding with the concerned officials on Wednesday regarding price adjustment. The federation took a decision to this effect after a meeting with Minister for Industry, Commerce and Supplies Dilendra Prasad Badu and Nepal Oil Corporation’s Executive Director Umesh Thani on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the federation to address their demands within September 23. A joint statement issued by the President of the federation Khageshwar Bohora and NOC Director Birendra Goit states that the transport entrepreneurs have agreed to ease the supply of petroleum products following the understanding with the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation has been protesting since the last few months demanding a revision of fare. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation has been saying that they will not be able to operate tankers to transport petroleum products at the current rate. They have been demanding revision of transportation fare due to the rise in prices of petroleum products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An expert group formed by the NOC some months ago had also suggested increasing the transportation fare. The study group has suggested increasing the fare by 3 to 16 percent depending on the route. However, the NOC leadership said that the suggestions made by the expert group was excessively high and handed over the report to Pulchowk Engineering College for further study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The protest of transport entrepreneurs had recently affected flight schedules of domestic airline companies due to lack of fuel in airports outside Kathmandu.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15742', 'image' => '20220915123014_20220812104846_CQjUX_dUsAA8_3_.jpg', 'article_date' => '2022-09-15 12:29:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16000', 'article_category_id' => '1', 'title' => 'Quantity of Fuel Import Drops but the Cost Increases', 'sub_title' => '', 'summary' => 'September 15: Nepal imports most of the petroleum products required for the country through Birgunj customs. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 15: Nepal imports most of the petroleum products required for the country through Birgunj customs. However, the import of petroleum products from this customs point has declined in the first month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the quantity of petroleum products imported into the country has declined the cost incurred has increased during the review month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Department of Customs, the cost of importing petroleum products has increased due to the rise in fuel prices in the international market. This has also resulted in a decline in imports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The country spent Rs 16.6 billion for the import of petroleum products from this customs point. During the corresponding period of last fiscal year, Rs 11.4 billion was spent for the import of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The state-owned Nepal Oil Corporation incurred 45 percent more cost for the import of fuel in the first month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The import of diesel and petrol has declined this year. Among different kinds of fuel, diesel is consumed the most in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Birgunj Customs, Nepal spent a total of Rs 6.87 billion to import 50,125 kiloliters of diesel during the review month. During the corresponding period of last fiscal year, the country had spent Rs 4.81 billion to import 69,180 kilolitres of diesel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Nepal spent Rs 3.69 billion to import 31,620 kilolitres of petrol in the first month of the current fiscal year. Last year, the NOC had spent Rs 2.43 billion in the same month to import 32,468 kilolitres of petrol.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the import of coal, which is used as a raw material for producing cement, has also declined significantly. During the first month of last fiscal year, the importers had brought a total of 53.6 million kilograms of coal worth Rs 770 million but this year, only 44.6 million kilograms of coal worth Rs 1.23 billion was imported into the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The import of liquefied petroleum gas (LPG) has increased marginally. The country imported 22.64 million kg of LPG worth Rs 2.91 billion in the first month of the current fiscal year against 22.31 million kg of cooking gas worth Rs 2.1 billion during the corresponding period of last fiscal year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15741', 'image' => '20220915115242_1663218767.Birjung Bhansar.jpg', 'article_date' => '2022-09-15 11:52:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15999', 'article_category_id' => '1', 'title' => 'Nepal Facing Climate-Induced Risks due to Climate-Dependent Economy', 'sub_title' => '', 'summary' => 'September 14: Finance Minister Janardan Sharma informed world leaders that Nepal is one of the most vulnerable countries in the world in view of climate change due to its climate-dependent economy and limited adaptation capacity. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: Finance Minister Janardan Sharma informed world leaders that Nepal is one of the most vulnerable countries in the world in view of climate change due to its climate-dependent economy and limited adaptation capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In his address to the second edition of the Green Climate Fund Programming Conference held in Incheon of South Korea on Tuesday, Finance Minister Sharma said Nepal has been gradually grappling with crisis due to climate change. The conference that kicked off on Tuesday will conclude on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in global warming, incidents of natural calamities have increased, glacial lakes have been bursting out and frequency of floods and landslides is also on the rise, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Despite negligible contribution to the global emission of Green House Gases, the least developed countries are bearing the brunt of negative impact of the climate change, the minister added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As a member-nation of the United Nations Framework Convention on Climate Change (UNFCCC), Nepal has actively advanced its efforts and engagement in the global fight against climate change," he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Sharma further noted that all countries should come up with concrete measures to reduce GHG emission so as to limit the rise of global temperature to an average of 1.5 degrees Celsius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister also informed that Nepal, as an ambitious climate change stakeholder, has devised numerous plans to enhance the climate change resilient capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Climate Change Policy, 2019 has explicitly set the goal of building climate resilient society and thereby contributing to the social-economic prosperity of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In materializing the goal, the national policy has taken several sub-policies, strategies and measures in the key thematic areas of climate change, the finance minister said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that Nepal has already signed the Paris Agreement and the UNFCCC. Nepal has set a target of becoming net zero emission country by 2045, he said, adding that the country has adopted a policy to spend at least 80 percent of the climate finance to respond to the negative impacts of climate change. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15740', 'image' => '20220914031045_grippa-index2.jpg', 'article_date' => '2022-09-14 15:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15998', 'article_category_id' => '1', 'title' => 'HAN Organising Hospitality Conclave for the First Time in Nepal', 'sub_title' => '', 'summary' => 'September 14: The Hotel Association of Nepal is preparing to organize Nepal Hospitality Conclave for the first time in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 14: The Hotel Association of Nepal (HAN) is all set to organize the Nepal Hospitality Conclave for the first time in Nepal in collaboration with BeanstalkAsia Nepal and WaterComm. According to HAN, the first edition of the conclave is to be held on September 25 at the Soaltee Hotel Kathmandu for which the registrations are now open. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">HAN President Shreejana Rana said in a statement that Nepal's first hospitality conclave will help find solutions to the current problems faced by the hotel sector and the ones that might arise in the future.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Attention will be given to innovative ways of marketing to keep afloat the business that is recovering in the aftermath of the Covid-19 pandemic,” the statement quoted Rana as saying. It is believed that the conclave will play a central role in maintaining the standard of Nepal’s hospitality industry and overall tourism development through a day of discussion with national and international industry experts. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Senior Vice President of HAN, Binayak Shah, said that the number of tourists seen in the world market after the outbreak of coronavirus is limited, but since the market is open to all, it is a challenge to bring tourists to Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"There is an intense competition in the world market to attract tourists, pre-bookings have become common now," Shah said, adding, "We want to bring more tourists to Nepal. For this, we are going to hold a conference to decide the strategy to be adopted and to see the practices of other countries. The competition has increased, so a new strategy is necessary.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Shah, the tourism sector is going towards normalcy and it seems that the budget allocated by the government and monetary policy as well as the programmes announced so far will not be sufficient to revitalize the tourism industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There will be 7 sessions on different topics at the conclave. These sessions will come up with suggestions on policy and long-term policies to be adopted for the operation of the hotels and they will be presented to the relevant agencies of the government for implementation, the statement released by HAN says.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Subodh Thapa, the co-founder of the conclave, the goal of the conclave is to help the Nepali Hospitality Industry thrive by uniting all the representatives from its cross section for a day of discussion about the industry trends with the industry experts. NHC also provides a pavilion to exhibit relevant products and services, and a platform to network amongst each other. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The title sponsor of the Nepal Hospitality Conclave is the Sagtani Exim. The registration for the conclave is now open and the tickets can be purchased through the official website of the conclave (http://www.nepalhospitalityconclave.biz/) along with additional information regarding the event. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '15739', 'image' => '20220915032106_1663140877.jpg', 'article_date' => '2022-09-14 15:08:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15997', 'article_category_id' => '1', 'title' => 'Government to Release Rupees One Billion to Settle Covid-19 Insurance Claims', 'sub_title' => '', 'summary' => 'September 14: The government has decided to release Rs 1 billion to settle the insurance claims related to Covid-19 which has been pending since a long time.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 14: The government has decided to release Rs 1 billion to settle the insurance claims related to Covid-19 which has been pending since a long time. A meeting of the Council of Ministers held last week took a decision to this effect.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Insurance companies are yet to settle insurance claims of more than Rs 11 billion related to coronavirus due to the delay on part of the government to release the funds. The government, the Insurance Board and the insurance companies are all responsible for settling the claims related to coronavirus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that all non-life insurance companies had denied the settlement of coronavirus insurance claims in July 2020 after the government delayed the release of the allocated budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All 20 non-life insurance companies formally stopped the payment of coronavirus insurance since July 29, 2020 at the call of the Nepal Insurers Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The companies had delayed the settlement of claims related to coronavirus insurance citing the delay on part of the government in releasing the budget. The companies argued that they were facing difficulties in settling the claims from their funds after the government failed to release the promised money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Later in December the same year, the insurance companies started expediting the process of claims settlement following assurance from the Ministry of Finance.</span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15738', 'image' => '20220914023807_20210801125408_20200426022909_1587852673.jpg', 'article_date' => '2022-09-14 14:37:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15996', 'article_category_id' => '1', 'title' => 'Li Discusses Bilateral Trade with Nepal during his Official Visit', 'sub_title' => '', 'summary' => 'September 14: Visiting Chief of the Chinese National People's Congress of the People's Republic of China, Li Zhanshu, paid a courtesy call on Prime Minister Sher Bahadur Deuba and leader of the main opposition party as well as former Prime Minister KP Sharma Oli on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: Visiting Chief of the Chinese National People's Congress of the People's Republic of China, Li Zhanshu, paid a courtesy call on Prime Minister Sher Bahadur Deuba and leader of the main opposition party as well as former Prime Minister KP Sharma Oli on Tuesday.</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"">Li, who arrived in Nepal for a four-day official visit on Monday at the invitation of Speaker Agni Prasad Sapkota, had earlier held meetings with National Assembly Chairperson Ganesh Prasad Timilsina, CPN (Maoist Centre) Chair Puhspa Kamal Dahal and Foreign Minister Dr Narayan Khadka. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his meeting with PM Deuba, the two sides discussed about bilateral trade, investment, connectivity, passenger flights, and opening border ports among other issues.</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 Chinese delegation led by Li praised Nepal’s One-China Policy and the stance taken by the Government of Nepal not to allow any elements to use its territory to plot against China.</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"">On the occasion, Prime Minister Deuba thanked China for its continued support for the development of Nepal.</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"">Meanwhile, Li assured that the border dry ports will be opened as soon as the Covid-19 pandemic is brought under control in Tibet autonomous region of China.</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"">Li also assured that the Chinese government will facilitate in transporting goods for the upcoming festivals. </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"">Nepal-bound container goods ordered by Nepali importers are currently stuck across the northern border after China closed the Tatopani and Rasuwagadhi customs citing Covid-19 outbreak in Tibet.</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 Chinese delegation also pledged to implement the projects in Nepal with Chinese assistance. China also promised to support Nepal graduate from LDC to developing nation.</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"">Li will wrap up his four-day visit and return back to China on Thursday.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15737', 'image' => '20220914014307_RS-KTM-PMDeubaaa.jpg', 'article_date' => '2022-09-14 13:42:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15995', 'article_category_id' => '1', 'title' => 'FDI in Nepal Climbs to Rs 228 Billion ', 'sub_title' => '', 'summary' => 'September 14: Nepal received foreign direct investment of over Rs 227 billion from 55 countries as of mid-July this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 14: Nepal received foreign direct investment of over Rs 227 billion from 55 countries as of mid-July this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a survey on foreign direct investment (FDI) conducted by the Nepal Rastra Bank, the FDI stocks in Nepal climbed to Rs 227.9 billion at the end of the fiscal year (FY 2020/21) with an increase of 14.8 percent compared to the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey report released by the central bank on Tuesday, the share of paid-up capital in Nepal’s FDI stocks is 53.9 percent whereas the reserves account for 31.6 percent, and the share of loans is 14.5 percent. The overall foreign direct investment has increased as the share of paid-up capital increased by 13.7 percent, says the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB reports shows that foreigners have invested mostly in banks and financial institutions, insurance companies, projects hotels and restaurants.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey, the industrial sector accounts for about 60.5 percent of the total FDI stocks of which hydropower sector constitutes 30.8 percent and manufacturing sector 29.5 percent of total FDI stocks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">About 39.4 percent of total FDI stocks are in the service sector of which financial and insurance sector constitutes 26.9 percent, accommodation and food services sector 5.7 percent, and information and communication sector 4.8 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey covered 197 firms out of 604 companies that have taken FDI approval from Nepal Rastra Bank as of the end of FY 2020/21. The Research Department of NRB informed that the details on FDI stocks were obtained from the financial statements of the surveyed companies as well as from standard questionnaire. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of total FDI stocks, neighbouring India ranks top with Rs 75.8 billion followed by China (Rs 33.0 billion), Ireland (Rs 16.5 billion), Singapore (Rs 15.5 billion) and Saint Kitts and Nevis (Rs14.5 billion).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NRB, the capacity utilization of FDI-based manufacturing companies stands at 64.9 percent, while the profitability of FDI companies remains at 14.7 percent in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15736', 'image' => '20220914122931_Foreign investment.jpg', 'article_date' => '2022-09-14 12:28:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15994', 'article_category_id' => '1', 'title' => 'Cabinet Approves Concessional Loan of Rs 35 Billion from World Bank ', 'sub_title' => '', 'summary' => 'September 14: The government has approved concessional loan of Rs 35 billion (USD 275 million) to be received from the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: The government has approved concessional loan of Rs 35 billion (USD 275 million) to be received from the World Bank. According to Government Spokesperson Gyanendra Bahadur Karki, the loan would be spent on programmes to promote transportation and trade connectivity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also the Minister for Communication and Information Technology, confirmed this during a press conference organized on Tuesday to share the decisions taken by the Council of Ministers a day ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Karki said the cabinet meeting also decided to form a talks team for receiving a grant of USD 12 million from the Asian Development Bank (ADB) for strengthening the system to protect and uplift women. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting has also decided to approve a team of Finance Minister Janardan Sharma to participate in the joint meeting of the World Bank Group and the International Monetary Fund in Washington DC of the United States of America. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15735', 'image' => '20220914112204_World.jpg', 'article_date' => '2022-09-14 11:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15993', 'article_category_id' => '1', 'title' => 'Taskforce Submits Report on Loan Sharking ', 'sub_title' => '', 'summary' => 'September 13: The taskforce formed by the government to recommend measures to curb loan sharking has submitted its report to Home Minister Bal Krishna Khand. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 13: The taskforce formed by the government to recommend measures to curb loan sharking has submitted its report to Home Minister Bal Krishna Khand. Coordinator of the taskforce Dr Bhishma Kumar Bhusal submitted the report to Minister Khand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As stated in the report, a total of 2,289 complaints were received relating to loan sharking and of them 59 cases were settled while seven cases have been filed in the concerned courts. Likewise, police have been probing into seven other issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the victims have filed more than four complaints against 33 loan sharks accusing them of charging exorbitant interest rates to the poor people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report has included issues such as the compulsion of the poor people to seek loan with loan sharks, reasons behind lack of access to banks and financial institutions among the poor farmers, processes to receive loans from such informal channels, viscous cycle of exorbitant interest, international practices on the actions against loan sharks and other issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the recommendations made in the report, the local administration would continue the investigation against the complaints related to this crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recommendations of the taskforce vary from political commitment to government's policy and programme, raising awareness and legal reforms, financial literacy and fiscal access and others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had formed the taskforce a month ago seeking recommendation to curb loan sharking. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15734', 'image' => '20220914105247_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2022-09-14 10:52:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15990', 'article_category_id' => '1', 'title' => 'NADA EV Expo from September 22', 'sub_title' => '', 'summary' => 'September 13: NADA Automobiles Association of Nepal is going to organize an exhibition of electric vehicles from September 22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 13: NADA Automobiles Association of Nepal is going to organize an exhibition of electric vehicles from September 22. NADA informed during a press conference organized on Monday that “NADA EV Expo 2022” will be organized from September 22 to September 25 at Bhrikutimandap exhibition hall in Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NADA said that the fair with focus on electric vehicles is being organized for the first time in Nepal. The fair will feature stalls for the purchase of electric vehicles, their parts and financial services.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Electricity Authority is a supporting organization of the fair where USAID Clean Air is the knowledge partner. USAID Clean Air will conduct a three-day informative conference called “EV Chautari” as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">CEAT Tyre is the prime sponsor of the fair whereas Shikhar Insurance Company is the co-sponsor. Anup Baral, chairman of the NADA EV Expo Committee informed that Khalti app is associated as the digital payment partner with the fair. The manager of the fair is Global Exposition and Management Services. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dhruba Bahadur Thapa, president of NADA, informed that public’s interest in electric vehicles is increasing in Nepal and at least 10 percent of the vehicles available in the market are electric.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the information of NADA, there will be 51 stalls and blocks in the fair. Similarly, there will be stalls of seven brands of four-wheelers, one brand of three-wheelers, 16 brands of two-wheelers, three brands of tires, two brands of batteries, and 9 brands of spare parts. Also, garage equipment company, auto magazine and four financial institutions will have stalls.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NADA says that tickets can be purchased online through the Khalti app. Tickets purchased from Monday till September 22 will get discounts. There is an offer of 25% cash back when buying tickets from the Khalti app. The ticket price is fixed at Rs150 for students and Rs 200 for the general public.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15732', 'image' => '20220913042706_1663024593.Clipboard03.jpg', 'article_date' => '2022-09-13 16:26:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15992', 'article_category_id' => '1', 'title' => 'Fire at E-Scooter Showroom in India Kills Eight ', 'sub_title' => '', 'summary' => 'September 13: A fire that started at an electric scooter showroom in South India on Monday killed at least eight people and injured 11.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 13: A fire that started at an electric scooter showroom in South India on Monday killed at least eight people and injured 11, Reuters reported citing the police. According to the news agency, it was the deadliest such incident involving electric vehicles in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“A spate of electric scooter fires this year has alarmed the government, which is keen to promote use of such two-wheelers in its fight against pollution,” Reuters further stated. Early investigations have identified faulty battery cells and battery modules among the main causes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The latest fire broke out late on Monday in a hotel basement housing the showroom with some two dozen electric scooters in the southern city of Secunderabad, Reuters said. Citing the local police, Reuters said that the fire has been brought under control and an investigation has been launched.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the dead were occupants of the hotel, which was engulfed by smoke.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We don't know if the fire started because of overcharging and then spread or whether it started elsewhere. That is still being established," Reuters quoted police official Chandana Deepti as saying.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The identity of the dealer and the maker of scooters being sold was not immediately clear.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the news report, police and firefighters used cranes and other equipment to pluck stranded hotel guests from upper floors of the four-storey building as smoke billowed out of its windows.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Those staying on the first and second floors were overpowered by smoke and the maximum casualties are from those floors," CV Anand, the police chief of the neighbouring city of Hyderabad, told ANI.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Reuters, India launched an investigation over safety concerns in March after a string of e-scooter fires, including one in which a man and his daughter died when their e-bike "went up in flames".</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“India wants e-scooters and e-bikes to make up 80% of total two-wheeler sales by 2030, from about 2% now.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15731', 'image' => '20220913044634_20220330070939_EV fire.jpg', 'article_date' => '2022-09-13 16:45:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15989', 'article_category_id' => '1', 'title' => 'Capital Requirement Fixed for New Stock Exchange won't be Applicable for NEPSE', 'sub_title' => '', 'summary' => 'The minimum paid-up capital of Rs 3 billion fixed for stock exchange company does not apply for the stock exchange company which is currently in operation.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 13: The minimum paid-up capital of Rs 3 billion fixed for stock exchange company does not apply for the stock exchange company which is currently in operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal made such arrangement by announcing the second amendment to the Securities Market Operation Regulations, 2079 on Monday. There is also a provision in the revised regulations for the new stock exchange to issue at least 30 per cent of its issued capital shares to the general public within two years of conducting business.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It is also mentioned in the regulations that this arrangement to issue IPO to the general public does not apply to the currently operating stock exchange. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Arrangements have been made so that only private companies or institutions established according to the law can acquire shares of the new stock exchange company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Provision has been made for the new stock exchange company to take necessary cooperation and technical assistance from internationally renowned securities market regarding the transaction system and other related technologies. Provisions have also been made in the regulations that business system servers and data hosting cannot be kept abroad without the consent of the Government of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The state-owned Nepal Stock Exchange is the only stock exchange company currently operation in Nepal. Neighbouring India has two stock exchange companies.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15730', 'image' => '20220913042622_1663042405.1662772852.nepse.jpg', 'article_date' => '2022-09-13 16:17:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', '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"">September 15: Experts have voiced their concerns regarding the failure of the state to utilize the allocated capital on time. They expressed such view during the fifth policy dialogue of the ECON Talks Series titled “Accelerating capital expenditure to boost infrastructural development in Nepal” organized by Daayitwa, a non-profit, non-governmental organization, in collaboration with the National Democratic Institute (NDI) on Tuesday, September 13. </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 dialogue featured personalities like Member of Parliament and former Minister for Urban Development Ram Kumari Jhakri, CNI Vice President Birendra Raj Pandey, Secretary of National Planning Commission Kewal Prasad Bhandari, former Secretary Kishore Thapa and Urban Planning Expert at the IoE, Pulchowk, Sangeeta Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The participants of the dialogue explored issues such as the reasons why capital expenditure is not utilized fully in Nepal, the challenges faced during project implementation, lack of coordination between the government, development partners and private sectors, inefficient work of relevant stakeholders, very rigid rules and regulations, adapting the changing dynamics of urbanization, need of technological advancement in infrastructural development, lack of coordination between the central government and the provincial government, among others.</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"">While addressing the event, MP Ram Kumari Jhakri stressed on the need to amend the acts and regulations related to construction and infrastructure development. </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"">“Inefficiency of the government as well as the private sector, projects not completing the project-cycle, insufficient financial resources in projects than ear marked, and running to select projects only after annual budget allocation are the four main reasons why capital expenditure is not utilized in Nepal,” said Jhakri.</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"">Former Secretary of the Government of Nepal, Krishna Gyawali said that we need to have a “clear vision” of what kind of development we want. “Only making roads and bridges is not development, let’s not concretize development. Development projects need to be inclusive and equitable,” said Gyawali. </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 organizer of the policy dialogue plans to present the summary of these dialogues in the house of representative to facilitative effective policy making and implementation to strengthen the economy of the nation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15745', 'image' => '20220915033535_837A0441.JPG', 'article_date' => '2022-09-15 15:34:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16003', 'article_category_id' => '1', 'title' => 'Government Prepares Concept Paper to Increase Domestic Production', 'sub_title' => 'Plans to Increase Contribution of Productive Sector to 15% of GDP', 'summary' => 'September 15: The government has prepared a concept paper to promote local products under the heading of the 'Prime Minister Nepali Production and Consumption Promotion Programme 2079-2089'.', '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"">September 15: The government has prepared a concept paper to promote local products under the heading of the 'Prime Minister Nepali Production and Consumption Promotion Programme 2079-2089'. The concept paper aims to increase the contribution of the manufacturing sector to the Gross Domestic Product (GDP) to 15 per cent in the next decade.</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"">Currently, the contribution of the manufacturing sector to the GDP is 5.9 percent, which is declining. In the eighth plan, the contribution of this sector was 12.7 per cent. This shows that the contribution of the productive sector is gradually decreasing. In the budget statement for the current fiscal year, the government has allocated Rs 3.45 billion for the domestic production and consumption promotion programme.</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 Ministry of Industry, Commerce and Supplies has prepared the concept paper to implement the programme for the growth of Nepal’s production, job creation and export-oriented business.</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"">Former secretaries, businessmen and other stakeholders who participated in a meeting organised by the ministry on Wednesday to discuss the concept paper said that this concept won't work because it focuses only on self-sufficiency and comparative advantage.</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"">Nepali Congress MP Gagan Kumar Thapa said that unless the Ministry of Industry takes the lead to increase the production of goods, curb smuggling and low invoicing in border areas, the problem will remain as it is. Giving examples of products like footwear, school bags, and garments, he said, “Let's arrange for public bodies to purchase and consume up to 60/70 percent of domestic products.”</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"">Thapa said that it is also necessary to pay attention to make arrangement of at least 20 percent space for domestic products in the city's supermarkets.</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"">Former Secretary Bimal Koirala said that the country cannot become self-sufficient just by announcing new programmes with new slogans.</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"">It is necessary to increase the competitiveness of the industry." </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"">Former Secretary Rameshwar Khanal was doubtful that the country would become self-sufficient in the current situation. Khanal said that the use of foreign goods is mandatory even for domestic production, adding, 'This concept is not correct because there is an inter-dependence in everything.” </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"">Ex-Secretary Khanal said that although the service sector has been given priority, there is no clear policy on this matter.</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""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15744', 'image' => '20220915030705_gdp.jpg', 'article_date' => '2022-09-15 15:06:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16002', 'article_category_id' => '1', 'title' => 'China Ready to Open Northern Border Immediately', 'sub_title' => '', 'summary' => 'September 15: China has expressed its readiness to reopen its border with Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">September 15: China has expressed its readiness to reopen its border with Nepal. High-ranking Chinese officials during their official visit to Nepal said that they are ready to resolve the issues related to the import of goods to Nepal from China which is currently suspended due to lockdown in Tibet after the outbreak of coronavirus.</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"">As a result, Nepal-bound goods are stuck across the Tatopani and Rasuwagadhi border points.</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"">Chief of the Chinese People's Congress, Li Zhanshu, who is on a visit to Nepal said in a courtesy meeting with President Bidya Devi Bhandari on Wednesday that the checkpoints will be operational immediately.</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 a source at the President's Office, Chinese leader Li spoke with Chinese officials who are looking at the trade sector before meeting with President Bhandari and said that the border crossings will be opened soon.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A senior official of the President's Office, quoting Chinese leader Li said, "Before coming here, I spoke with the Chinese official who oversees the business sector. After this message reached our President Xi Jinping, I can now tell the President that the border crossing will be operational immediately."</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"">Nepalese businessmen are facing problems due to the obstruction in both the major border crossings between Nepal and China. They have been urging the Nepalese government to take initiative to reopen these checkpoints.</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"">China had sealed the Rasuwagadhi border from August 6 and Tatopani border from August 10 due to the increase in the number of Covid-19 infections in Tibet. China-Nepal trade by land has been affected for the last three years due to China adopting strict measures to control Covid-19.</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 Nepal Trans Himalaya Border Commerce Association (NTHBCA), 400 containers carrying goods worth about Rs 5 billion are currently stuck along the road across the border.</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 owner of New Sugam Enterprises and general secretary of the association, Bharat Karki informed that currently, 350 to 400 containers are stopped at Kerung and Khasa. His company imports goods from China. There are festive goods in the Nepal-bound containers. </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"">“China has not allowed the containers carrying clothes, shoes, Chinese walnuts to enter Nepal,” said Karki. Businessmen are under a lot of stress due to the closure of the border. Businessmen have been asking for diplomatic initiatives for a long 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 delegation led by Li is all set to wrap up a four-day visit to Nepal and return back today (September 15).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15743', 'image' => '20220915020011_1663217316.Rasuwagadi_Naka 1.jpg', 'article_date' => '2022-09-15 13:59:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16001', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs Call Off Protest Programmes', 'sub_title' => '', 'summary' => 'September 15: The Federation of Nepal Petroleum Transport Entrepreneurs has withdrawn its protest programmes following an understanding with the government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 15: The Federation of Nepal Petroleum Transport Entrepreneurs has withdrawn its protest programmes following an understanding with the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation called off its strikes after reaching an understanding with the concerned officials on Wednesday regarding price adjustment. The federation took a decision to this effect after a meeting with Minister for Industry, Commerce and Supplies Dilendra Prasad Badu and Nepal Oil Corporation’s Executive Director Umesh Thani on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the federation to address their demands within September 23. A joint statement issued by the President of the federation Khageshwar Bohora and NOC Director Birendra Goit states that the transport entrepreneurs have agreed to ease the supply of petroleum products following the understanding with the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation has been protesting since the last few months demanding a revision of fare. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation has been saying that they will not be able to operate tankers to transport petroleum products at the current rate. They have been demanding revision of transportation fare due to the rise in prices of petroleum products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An expert group formed by the NOC some months ago had also suggested increasing the transportation fare. The study group has suggested increasing the fare by 3 to 16 percent depending on the route. However, the NOC leadership said that the suggestions made by the expert group was excessively high and handed over the report to Pulchowk Engineering College for further study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The protest of transport entrepreneurs had recently affected flight schedules of domestic airline companies due to lack of fuel in airports outside Kathmandu.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15742', 'image' => '20220915123014_20220812104846_CQjUX_dUsAA8_3_.jpg', 'article_date' => '2022-09-15 12:29:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16000', 'article_category_id' => '1', 'title' => 'Quantity of Fuel Import Drops but the Cost Increases', 'sub_title' => '', 'summary' => 'September 15: Nepal imports most of the petroleum products required for the country through Birgunj customs. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 15: Nepal imports most of the petroleum products required for the country through Birgunj customs. However, the import of petroleum products from this customs point has declined in the first month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the quantity of petroleum products imported into the country has declined the cost incurred has increased during the review month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Department of Customs, the cost of importing petroleum products has increased due to the rise in fuel prices in the international market. This has also resulted in a decline in imports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The country spent Rs 16.6 billion for the import of petroleum products from this customs point. During the corresponding period of last fiscal year, Rs 11.4 billion was spent for the import of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The state-owned Nepal Oil Corporation incurred 45 percent more cost for the import of fuel in the first month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The import of diesel and petrol has declined this year. Among different kinds of fuel, diesel is consumed the most in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Birgunj Customs, Nepal spent a total of Rs 6.87 billion to import 50,125 kiloliters of diesel during the review month. During the corresponding period of last fiscal year, the country had spent Rs 4.81 billion to import 69,180 kilolitres of diesel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Nepal spent Rs 3.69 billion to import 31,620 kilolitres of petrol in the first month of the current fiscal year. Last year, the NOC had spent Rs 2.43 billion in the same month to import 32,468 kilolitres of petrol.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the import of coal, which is used as a raw material for producing cement, has also declined significantly. During the first month of last fiscal year, the importers had brought a total of 53.6 million kilograms of coal worth Rs 770 million but this year, only 44.6 million kilograms of coal worth Rs 1.23 billion was imported into the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The import of liquefied petroleum gas (LPG) has increased marginally. The country imported 22.64 million kg of LPG worth Rs 2.91 billion in the first month of the current fiscal year against 22.31 million kg of cooking gas worth Rs 2.1 billion during the corresponding period of last fiscal year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15741', 'image' => '20220915115242_1663218767.Birjung Bhansar.jpg', 'article_date' => '2022-09-15 11:52:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15999', 'article_category_id' => '1', 'title' => 'Nepal Facing Climate-Induced Risks due to Climate-Dependent Economy', 'sub_title' => '', 'summary' => 'September 14: Finance Minister Janardan Sharma informed world leaders that Nepal is one of the most vulnerable countries in the world in view of climate change due to its climate-dependent economy and limited adaptation capacity. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: Finance Minister Janardan Sharma informed world leaders that Nepal is one of the most vulnerable countries in the world in view of climate change due to its climate-dependent economy and limited adaptation capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In his address to the second edition of the Green Climate Fund Programming Conference held in Incheon of South Korea on Tuesday, Finance Minister Sharma said Nepal has been gradually grappling with crisis due to climate change. The conference that kicked off on Tuesday will conclude on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in global warming, incidents of natural calamities have increased, glacial lakes have been bursting out and frequency of floods and landslides is also on the rise, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Despite negligible contribution to the global emission of Green House Gases, the least developed countries are bearing the brunt of negative impact of the climate change, the minister added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As a member-nation of the United Nations Framework Convention on Climate Change (UNFCCC), Nepal has actively advanced its efforts and engagement in the global fight against climate change," he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Sharma further noted that all countries should come up with concrete measures to reduce GHG emission so as to limit the rise of global temperature to an average of 1.5 degrees Celsius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister also informed that Nepal, as an ambitious climate change stakeholder, has devised numerous plans to enhance the climate change resilient capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Climate Change Policy, 2019 has explicitly set the goal of building climate resilient society and thereby contributing to the social-economic prosperity of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In materializing the goal, the national policy has taken several sub-policies, strategies and measures in the key thematic areas of climate change, the finance minister said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that Nepal has already signed the Paris Agreement and the UNFCCC. Nepal has set a target of becoming net zero emission country by 2045, he said, adding that the country has adopted a policy to spend at least 80 percent of the climate finance to respond to the negative impacts of climate change. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15740', 'image' => '20220914031045_grippa-index2.jpg', 'article_date' => '2022-09-14 15:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15998', 'article_category_id' => '1', 'title' => 'HAN Organising Hospitality Conclave for the First Time in Nepal', 'sub_title' => '', 'summary' => 'September 14: The Hotel Association of Nepal is preparing to organize Nepal Hospitality Conclave for the first time in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 14: The Hotel Association of Nepal (HAN) is all set to organize the Nepal Hospitality Conclave for the first time in Nepal in collaboration with BeanstalkAsia Nepal and WaterComm. According to HAN, the first edition of the conclave is to be held on September 25 at the Soaltee Hotel Kathmandu for which the registrations are now open. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">HAN President Shreejana Rana said in a statement that Nepal's first hospitality conclave will help find solutions to the current problems faced by the hotel sector and the ones that might arise in the future.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Attention will be given to innovative ways of marketing to keep afloat the business that is recovering in the aftermath of the Covid-19 pandemic,” the statement quoted Rana as saying. It is believed that the conclave will play a central role in maintaining the standard of Nepal’s hospitality industry and overall tourism development through a day of discussion with national and international industry experts. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Senior Vice President of HAN, Binayak Shah, said that the number of tourists seen in the world market after the outbreak of coronavirus is limited, but since the market is open to all, it is a challenge to bring tourists to Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"There is an intense competition in the world market to attract tourists, pre-bookings have become common now," Shah said, adding, "We want to bring more tourists to Nepal. For this, we are going to hold a conference to decide the strategy to be adopted and to see the practices of other countries. The competition has increased, so a new strategy is necessary.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Shah, the tourism sector is going towards normalcy and it seems that the budget allocated by the government and monetary policy as well as the programmes announced so far will not be sufficient to revitalize the tourism industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There will be 7 sessions on different topics at the conclave. These sessions will come up with suggestions on policy and long-term policies to be adopted for the operation of the hotels and they will be presented to the relevant agencies of the government for implementation, the statement released by HAN says.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Subodh Thapa, the co-founder of the conclave, the goal of the conclave is to help the Nepali Hospitality Industry thrive by uniting all the representatives from its cross section for a day of discussion about the industry trends with the industry experts. NHC also provides a pavilion to exhibit relevant products and services, and a platform to network amongst each other. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The title sponsor of the Nepal Hospitality Conclave is the Sagtani Exim. The registration for the conclave is now open and the tickets can be purchased through the official website of the conclave (http://www.nepalhospitalityconclave.biz/) along with additional information regarding the event. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '15739', 'image' => '20220915032106_1663140877.jpg', 'article_date' => '2022-09-14 15:08:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15997', 'article_category_id' => '1', 'title' => 'Government to Release Rupees One Billion to Settle Covid-19 Insurance Claims', 'sub_title' => '', 'summary' => 'September 14: The government has decided to release Rs 1 billion to settle the insurance claims related to Covid-19 which has been pending since a long time.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 14: The government has decided to release Rs 1 billion to settle the insurance claims related to Covid-19 which has been pending since a long time. A meeting of the Council of Ministers held last week took a decision to this effect.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Insurance companies are yet to settle insurance claims of more than Rs 11 billion related to coronavirus due to the delay on part of the government to release the funds. The government, the Insurance Board and the insurance companies are all responsible for settling the claims related to coronavirus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that all non-life insurance companies had denied the settlement of coronavirus insurance claims in July 2020 after the government delayed the release of the allocated budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All 20 non-life insurance companies formally stopped the payment of coronavirus insurance since July 29, 2020 at the call of the Nepal Insurers Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The companies had delayed the settlement of claims related to coronavirus insurance citing the delay on part of the government in releasing the budget. The companies argued that they were facing difficulties in settling the claims from their funds after the government failed to release the promised money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Later in December the same year, the insurance companies started expediting the process of claims settlement following assurance from the Ministry of Finance.</span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15738', 'image' => '20220914023807_20210801125408_20200426022909_1587852673.jpg', 'article_date' => '2022-09-14 14:37:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15996', 'article_category_id' => '1', 'title' => 'Li Discusses Bilateral Trade with Nepal during his Official Visit', 'sub_title' => '', 'summary' => 'September 14: Visiting Chief of the Chinese National People's Congress of the People's Republic of China, Li Zhanshu, paid a courtesy call on Prime Minister Sher Bahadur Deuba and leader of the main opposition party as well as former Prime Minister KP Sharma Oli on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: Visiting Chief of the Chinese National People's Congress of the People's Republic of China, Li Zhanshu, paid a courtesy call on Prime Minister Sher Bahadur Deuba and leader of the main opposition party as well as former Prime Minister KP Sharma Oli on Tuesday.</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"">Li, who arrived in Nepal for a four-day official visit on Monday at the invitation of Speaker Agni Prasad Sapkota, had earlier held meetings with National Assembly Chairperson Ganesh Prasad Timilsina, CPN (Maoist Centre) Chair Puhspa Kamal Dahal and Foreign Minister Dr Narayan Khadka. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his meeting with PM Deuba, the two sides discussed about bilateral trade, investment, connectivity, passenger flights, and opening border ports among other issues.</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 Chinese delegation led by Li praised Nepal’s One-China Policy and the stance taken by the Government of Nepal not to allow any elements to use its territory to plot against China.</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"">On the occasion, Prime Minister Deuba thanked China for its continued support for the development of Nepal.</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"">Meanwhile, Li assured that the border dry ports will be opened as soon as the Covid-19 pandemic is brought under control in Tibet autonomous region of China.</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"">Li also assured that the Chinese government will facilitate in transporting goods for the upcoming festivals. </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"">Nepal-bound container goods ordered by Nepali importers are currently stuck across the northern border after China closed the Tatopani and Rasuwagadhi customs citing Covid-19 outbreak in Tibet.</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 Chinese delegation also pledged to implement the projects in Nepal with Chinese assistance. China also promised to support Nepal graduate from LDC to developing nation.</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"">Li will wrap up his four-day visit and return back to China on Thursday.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15737', 'image' => '20220914014307_RS-KTM-PMDeubaaa.jpg', 'article_date' => '2022-09-14 13:42:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15995', 'article_category_id' => '1', 'title' => 'FDI in Nepal Climbs to Rs 228 Billion ', 'sub_title' => '', 'summary' => 'September 14: Nepal received foreign direct investment of over Rs 227 billion from 55 countries as of mid-July this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 14: Nepal received foreign direct investment of over Rs 227 billion from 55 countries as of mid-July this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a survey on foreign direct investment (FDI) conducted by the Nepal Rastra Bank, the FDI stocks in Nepal climbed to Rs 227.9 billion at the end of the fiscal year (FY 2020/21) with an increase of 14.8 percent compared to the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey report released by the central bank on Tuesday, the share of paid-up capital in Nepal’s FDI stocks is 53.9 percent whereas the reserves account for 31.6 percent, and the share of loans is 14.5 percent. The overall foreign direct investment has increased as the share of paid-up capital increased by 13.7 percent, says the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB reports shows that foreigners have invested mostly in banks and financial institutions, insurance companies, projects hotels and restaurants.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey, the industrial sector accounts for about 60.5 percent of the total FDI stocks of which hydropower sector constitutes 30.8 percent and manufacturing sector 29.5 percent of total FDI stocks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">About 39.4 percent of total FDI stocks are in the service sector of which financial and insurance sector constitutes 26.9 percent, accommodation and food services sector 5.7 percent, and information and communication sector 4.8 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey covered 197 firms out of 604 companies that have taken FDI approval from Nepal Rastra Bank as of the end of FY 2020/21. The Research Department of NRB informed that the details on FDI stocks were obtained from the financial statements of the surveyed companies as well as from standard questionnaire. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of total FDI stocks, neighbouring India ranks top with Rs 75.8 billion followed by China (Rs 33.0 billion), Ireland (Rs 16.5 billion), Singapore (Rs 15.5 billion) and Saint Kitts and Nevis (Rs14.5 billion).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NRB, the capacity utilization of FDI-based manufacturing companies stands at 64.9 percent, while the profitability of FDI companies remains at 14.7 percent in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15736', 'image' => '20220914122931_Foreign investment.jpg', 'article_date' => '2022-09-14 12:28:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15994', 'article_category_id' => '1', 'title' => 'Cabinet Approves Concessional Loan of Rs 35 Billion from World Bank ', 'sub_title' => '', 'summary' => 'September 14: The government has approved concessional loan of Rs 35 billion (USD 275 million) to be received from the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: The government has approved concessional loan of Rs 35 billion (USD 275 million) to be received from the World Bank. According to Government Spokesperson Gyanendra Bahadur Karki, the loan would be spent on programmes to promote transportation and trade connectivity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also the Minister for Communication and Information Technology, confirmed this during a press conference organized on Tuesday to share the decisions taken by the Council of Ministers a day ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Karki said the cabinet meeting also decided to form a talks team for receiving a grant of USD 12 million from the Asian Development Bank (ADB) for strengthening the system to protect and uplift women. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting has also decided to approve a team of Finance Minister Janardan Sharma to participate in the joint meeting of the World Bank Group and the International Monetary Fund in Washington DC of the United States of America. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15735', 'image' => '20220914112204_World.jpg', 'article_date' => '2022-09-14 11:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15993', 'article_category_id' => '1', 'title' => 'Taskforce Submits Report on Loan Sharking ', 'sub_title' => '', 'summary' => 'September 13: The taskforce formed by the government to recommend measures to curb loan sharking has submitted its report to Home Minister Bal Krishna Khand. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 13: The taskforce formed by the government to recommend measures to curb loan sharking has submitted its report to Home Minister Bal Krishna Khand. Coordinator of the taskforce Dr Bhishma Kumar Bhusal submitted the report to Minister Khand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As stated in the report, a total of 2,289 complaints were received relating to loan sharking and of them 59 cases were settled while seven cases have been filed in the concerned courts. Likewise, police have been probing into seven other issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the victims have filed more than four complaints against 33 loan sharks accusing them of charging exorbitant interest rates to the poor people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report has included issues such as the compulsion of the poor people to seek loan with loan sharks, reasons behind lack of access to banks and financial institutions among the poor farmers, processes to receive loans from such informal channels, viscous cycle of exorbitant interest, international practices on the actions against loan sharks and other issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the recommendations made in the report, the local administration would continue the investigation against the complaints related to this crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recommendations of the taskforce vary from political commitment to government's policy and programme, raising awareness and legal reforms, financial literacy and fiscal access and others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had formed the taskforce a month ago seeking recommendation to curb loan sharking. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15734', 'image' => '20220914105247_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2022-09-14 10:52:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15990', 'article_category_id' => '1', 'title' => 'NADA EV Expo from September 22', 'sub_title' => '', 'summary' => 'September 13: NADA Automobiles Association of Nepal is going to organize an exhibition of electric vehicles from September 22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 13: NADA Automobiles Association of Nepal is going to organize an exhibition of electric vehicles from September 22. NADA informed during a press conference organized on Monday that “NADA EV Expo 2022” will be organized from September 22 to September 25 at Bhrikutimandap exhibition hall in Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NADA said that the fair with focus on electric vehicles is being organized for the first time in Nepal. The fair will feature stalls for the purchase of electric vehicles, their parts and financial services.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Electricity Authority is a supporting organization of the fair where USAID Clean Air is the knowledge partner. USAID Clean Air will conduct a three-day informative conference called “EV Chautari” as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">CEAT Tyre is the prime sponsor of the fair whereas Shikhar Insurance Company is the co-sponsor. Anup Baral, chairman of the NADA EV Expo Committee informed that Khalti app is associated as the digital payment partner with the fair. The manager of the fair is Global Exposition and Management Services. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dhruba Bahadur Thapa, president of NADA, informed that public’s interest in electric vehicles is increasing in Nepal and at least 10 percent of the vehicles available in the market are electric.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the information of NADA, there will be 51 stalls and blocks in the fair. Similarly, there will be stalls of seven brands of four-wheelers, one brand of three-wheelers, 16 brands of two-wheelers, three brands of tires, two brands of batteries, and 9 brands of spare parts. Also, garage equipment company, auto magazine and four financial institutions will have stalls.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NADA says that tickets can be purchased online through the Khalti app. Tickets purchased from Monday till September 22 will get discounts. There is an offer of 25% cash back when buying tickets from the Khalti app. The ticket price is fixed at Rs150 for students and Rs 200 for the general public.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15732', 'image' => '20220913042706_1663024593.Clipboard03.jpg', 'article_date' => '2022-09-13 16:26:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15992', 'article_category_id' => '1', 'title' => 'Fire at E-Scooter Showroom in India Kills Eight ', 'sub_title' => '', 'summary' => 'September 13: A fire that started at an electric scooter showroom in South India on Monday killed at least eight people and injured 11.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 13: A fire that started at an electric scooter showroom in South India on Monday killed at least eight people and injured 11, Reuters reported citing the police. According to the news agency, it was the deadliest such incident involving electric vehicles in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“A spate of electric scooter fires this year has alarmed the government, which is keen to promote use of such two-wheelers in its fight against pollution,” Reuters further stated. Early investigations have identified faulty battery cells and battery modules among the main causes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The latest fire broke out late on Monday in a hotel basement housing the showroom with some two dozen electric scooters in the southern city of Secunderabad, Reuters said. Citing the local police, Reuters said that the fire has been brought under control and an investigation has been launched.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the dead were occupants of the hotel, which was engulfed by smoke.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We don't know if the fire started because of overcharging and then spread or whether it started elsewhere. That is still being established," Reuters quoted police official Chandana Deepti as saying.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The identity of the dealer and the maker of scooters being sold was not immediately clear.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the news report, police and firefighters used cranes and other equipment to pluck stranded hotel guests from upper floors of the four-storey building as smoke billowed out of its windows.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Those staying on the first and second floors were overpowered by smoke and the maximum casualties are from those floors," CV Anand, the police chief of the neighbouring city of Hyderabad, told ANI.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Reuters, India launched an investigation over safety concerns in March after a string of e-scooter fires, including one in which a man and his daughter died when their e-bike "went up in flames".</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“India wants e-scooters and e-bikes to make up 80% of total two-wheeler sales by 2030, from about 2% now.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15731', 'image' => '20220913044634_20220330070939_EV fire.jpg', 'article_date' => '2022-09-13 16:45:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15989', 'article_category_id' => '1', 'title' => 'Capital Requirement Fixed for New Stock Exchange won't be Applicable for NEPSE', 'sub_title' => '', 'summary' => 'The minimum paid-up capital of Rs 3 billion fixed for stock exchange company does not apply for the stock exchange company which is currently in operation.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 13: The minimum paid-up capital of Rs 3 billion fixed for stock exchange company does not apply for the stock exchange company which is currently in operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal made such arrangement by announcing the second amendment to the Securities Market Operation Regulations, 2079 on Monday. There is also a provision in the revised regulations for the new stock exchange to issue at least 30 per cent of its issued capital shares to the general public within two years of conducting business.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It is also mentioned in the regulations that this arrangement to issue IPO to the general public does not apply to the currently operating stock exchange. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Arrangements have been made so that only private companies or institutions established according to the law can acquire shares of the new stock exchange company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Provision has been made for the new stock exchange company to take necessary cooperation and technical assistance from internationally renowned securities market regarding the transaction system and other related technologies. Provisions have also been made in the regulations that business system servers and data hosting cannot be kept abroad without the consent of the Government of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The state-owned Nepal Stock Exchange is the only stock exchange company currently operation in Nepal. Neighbouring India has two stock exchange companies.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15730', 'image' => '20220913042622_1663042405.1662772852.nepse.jpg', 'article_date' => '2022-09-13 16:17:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', '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"">September 15: Experts have voiced their concerns regarding the failure of the state to utilize the allocated capital on time. They expressed such view during the fifth policy dialogue of the ECON Talks Series titled “Accelerating capital expenditure to boost infrastructural development in Nepal” organized by Daayitwa, a non-profit, non-governmental organization, in collaboration with the National Democratic Institute (NDI) on Tuesday, September 13. </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 dialogue featured personalities like Member of Parliament and former Minister for Urban Development Ram Kumari Jhakri, CNI Vice President Birendra Raj Pandey, Secretary of National Planning Commission Kewal Prasad Bhandari, former Secretary Kishore Thapa and Urban Planning Expert at the IoE, Pulchowk, Sangeeta Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The participants of the dialogue explored issues such as the reasons why capital expenditure is not utilized fully in Nepal, the challenges faced during project implementation, lack of coordination between the government, development partners and private sectors, inefficient work of relevant stakeholders, very rigid rules and regulations, adapting the changing dynamics of urbanization, need of technological advancement in infrastructural development, lack of coordination between the central government and the provincial government, among others.</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"">While addressing the event, MP Ram Kumari Jhakri stressed on the need to amend the acts and regulations related to construction and infrastructure development. </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"">“Inefficiency of the government as well as the private sector, projects not completing the project-cycle, insufficient financial resources in projects than ear marked, and running to select projects only after annual budget allocation are the four main reasons why capital expenditure is not utilized in Nepal,” said Jhakri.</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"">Former Secretary of the Government of Nepal, Krishna Gyawali said that we need to have a “clear vision” of what kind of development we want. “Only making roads and bridges is not development, let’s not concretize development. Development projects need to be inclusive and equitable,” said Gyawali. </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 organizer of the policy dialogue plans to present the summary of these dialogues in the house of representative to facilitative effective policy making and implementation to strengthen the economy of the nation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15745', 'image' => '20220915033535_837A0441.JPG', 'article_date' => '2022-09-15 15:34:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16003', 'article_category_id' => '1', 'title' => 'Government Prepares Concept Paper to Increase Domestic Production', 'sub_title' => 'Plans to Increase Contribution of Productive Sector to 15% of GDP', 'summary' => 'September 15: The government has prepared a concept paper to promote local products under the heading of the 'Prime Minister Nepali Production and Consumption Promotion Programme 2079-2089'.', '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"">September 15: The government has prepared a concept paper to promote local products under the heading of the 'Prime Minister Nepali Production and Consumption Promotion Programme 2079-2089'. The concept paper aims to increase the contribution of the manufacturing sector to the Gross Domestic Product (GDP) to 15 per cent in the next decade.</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"">Currently, the contribution of the manufacturing sector to the GDP is 5.9 percent, which is declining. In the eighth plan, the contribution of this sector was 12.7 per cent. This shows that the contribution of the productive sector is gradually decreasing. In the budget statement for the current fiscal year, the government has allocated Rs 3.45 billion for the domestic production and consumption promotion programme.</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 Ministry of Industry, Commerce and Supplies has prepared the concept paper to implement the programme for the growth of Nepal’s production, job creation and export-oriented business.</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"">Former secretaries, businessmen and other stakeholders who participated in a meeting organised by the ministry on Wednesday to discuss the concept paper said that this concept won't work because it focuses only on self-sufficiency and comparative advantage.</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"">Nepali Congress MP Gagan Kumar Thapa said that unless the Ministry of Industry takes the lead to increase the production of goods, curb smuggling and low invoicing in border areas, the problem will remain as it is. Giving examples of products like footwear, school bags, and garments, he said, “Let's arrange for public bodies to purchase and consume up to 60/70 percent of domestic products.”</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"">Thapa said that it is also necessary to pay attention to make arrangement of at least 20 percent space for domestic products in the city's supermarkets.</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"">Former Secretary Bimal Koirala said that the country cannot become self-sufficient just by announcing new programmes with new slogans.</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"">It is necessary to increase the competitiveness of the industry." </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"">Former Secretary Rameshwar Khanal was doubtful that the country would become self-sufficient in the current situation. Khanal said that the use of foreign goods is mandatory even for domestic production, adding, 'This concept is not correct because there is an inter-dependence in everything.” </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"">Ex-Secretary Khanal said that although the service sector has been given priority, there is no clear policy on this matter.</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""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15744', 'image' => '20220915030705_gdp.jpg', 'article_date' => '2022-09-15 15:06:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16002', 'article_category_id' => '1', 'title' => 'China Ready to Open Northern Border Immediately', 'sub_title' => '', 'summary' => 'September 15: China has expressed its readiness to reopen its border with Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">September 15: China has expressed its readiness to reopen its border with Nepal. High-ranking Chinese officials during their official visit to Nepal said that they are ready to resolve the issues related to the import of goods to Nepal from China which is currently suspended due to lockdown in Tibet after the outbreak of coronavirus.</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"">As a result, Nepal-bound goods are stuck across the Tatopani and Rasuwagadhi border points.</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"">Chief of the Chinese People's Congress, Li Zhanshu, who is on a visit to Nepal said in a courtesy meeting with President Bidya Devi Bhandari on Wednesday that the checkpoints will be operational immediately.</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 a source at the President's Office, Chinese leader Li spoke with Chinese officials who are looking at the trade sector before meeting with President Bhandari and said that the border crossings will be opened soon.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A senior official of the President's Office, quoting Chinese leader Li said, "Before coming here, I spoke with the Chinese official who oversees the business sector. After this message reached our President Xi Jinping, I can now tell the President that the border crossing will be operational immediately."</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"">Nepalese businessmen are facing problems due to the obstruction in both the major border crossings between Nepal and China. They have been urging the Nepalese government to take initiative to reopen these checkpoints.</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"">China had sealed the Rasuwagadhi border from August 6 and Tatopani border from August 10 due to the increase in the number of Covid-19 infections in Tibet. China-Nepal trade by land has been affected for the last three years due to China adopting strict measures to control Covid-19.</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 Nepal Trans Himalaya Border Commerce Association (NTHBCA), 400 containers carrying goods worth about Rs 5 billion are currently stuck along the road across the border.</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 owner of New Sugam Enterprises and general secretary of the association, Bharat Karki informed that currently, 350 to 400 containers are stopped at Kerung and Khasa. His company imports goods from China. There are festive goods in the Nepal-bound containers. </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"">“China has not allowed the containers carrying clothes, shoes, Chinese walnuts to enter Nepal,” said Karki. Businessmen are under a lot of stress due to the closure of the border. Businessmen have been asking for diplomatic initiatives for a long 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 delegation led by Li is all set to wrap up a four-day visit to Nepal and return back today (September 15).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15743', 'image' => '20220915020011_1663217316.Rasuwagadi_Naka 1.jpg', 'article_date' => '2022-09-15 13:59:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16001', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs Call Off Protest Programmes', 'sub_title' => '', 'summary' => 'September 15: The Federation of Nepal Petroleum Transport Entrepreneurs has withdrawn its protest programmes following an understanding with the government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 15: The Federation of Nepal Petroleum Transport Entrepreneurs has withdrawn its protest programmes following an understanding with the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation called off its strikes after reaching an understanding with the concerned officials on Wednesday regarding price adjustment. The federation took a decision to this effect after a meeting with Minister for Industry, Commerce and Supplies Dilendra Prasad Badu and Nepal Oil Corporation’s Executive Director Umesh Thani on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the federation to address their demands within September 23. A joint statement issued by the President of the federation Khageshwar Bohora and NOC Director Birendra Goit states that the transport entrepreneurs have agreed to ease the supply of petroleum products following the understanding with the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation has been protesting since the last few months demanding a revision of fare. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The federation has been saying that they will not be able to operate tankers to transport petroleum products at the current rate. They have been demanding revision of transportation fare due to the rise in prices of petroleum products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An expert group formed by the NOC some months ago had also suggested increasing the transportation fare. The study group has suggested increasing the fare by 3 to 16 percent depending on the route. However, the NOC leadership said that the suggestions made by the expert group was excessively high and handed over the report to Pulchowk Engineering College for further study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The protest of transport entrepreneurs had recently affected flight schedules of domestic airline companies due to lack of fuel in airports outside Kathmandu.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15742', 'image' => '20220915123014_20220812104846_CQjUX_dUsAA8_3_.jpg', 'article_date' => '2022-09-15 12:29:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16000', 'article_category_id' => '1', 'title' => 'Quantity of Fuel Import Drops but the Cost Increases', 'sub_title' => '', 'summary' => 'September 15: Nepal imports most of the petroleum products required for the country through Birgunj customs. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 15: Nepal imports most of the petroleum products required for the country through Birgunj customs. However, the import of petroleum products from this customs point has declined in the first month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although the quantity of petroleum products imported into the country has declined the cost incurred has increased during the review month. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Department of Customs, the cost of importing petroleum products has increased due to the rise in fuel prices in the international market. This has also resulted in a decline in imports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The country spent Rs 16.6 billion for the import of petroleum products from this customs point. During the corresponding period of last fiscal year, Rs 11.4 billion was spent for the import of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The state-owned Nepal Oil Corporation incurred 45 percent more cost for the import of fuel in the first month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The import of diesel and petrol has declined this year. Among different kinds of fuel, diesel is consumed the most in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the Birgunj Customs, Nepal spent a total of Rs 6.87 billion to import 50,125 kiloliters of diesel during the review month. During the corresponding period of last fiscal year, the country had spent Rs 4.81 billion to import 69,180 kilolitres of diesel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, Nepal spent Rs 3.69 billion to import 31,620 kilolitres of petrol in the first month of the current fiscal year. Last year, the NOC had spent Rs 2.43 billion in the same month to import 32,468 kilolitres of petrol.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the import of coal, which is used as a raw material for producing cement, has also declined significantly. During the first month of last fiscal year, the importers had brought a total of 53.6 million kilograms of coal worth Rs 770 million but this year, only 44.6 million kilograms of coal worth Rs 1.23 billion was imported into the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The import of liquefied petroleum gas (LPG) has increased marginally. The country imported 22.64 million kg of LPG worth Rs 2.91 billion in the first month of the current fiscal year against 22.31 million kg of cooking gas worth Rs 2.1 billion during the corresponding period of last fiscal year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-15', 'modified' => '2022-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '15741', 'image' => '20220915115242_1663218767.Birjung Bhansar.jpg', 'article_date' => '2022-09-15 11:52:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15999', 'article_category_id' => '1', 'title' => 'Nepal Facing Climate-Induced Risks due to Climate-Dependent Economy', 'sub_title' => '', 'summary' => 'September 14: Finance Minister Janardan Sharma informed world leaders that Nepal is one of the most vulnerable countries in the world in view of climate change due to its climate-dependent economy and limited adaptation capacity. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: Finance Minister Janardan Sharma informed world leaders that Nepal is one of the most vulnerable countries in the world in view of climate change due to its climate-dependent economy and limited adaptation capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In his address to the second edition of the Green Climate Fund Programming Conference held in Incheon of South Korea on Tuesday, Finance Minister Sharma said Nepal has been gradually grappling with crisis due to climate change. The conference that kicked off on Tuesday will conclude on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in global warming, incidents of natural calamities have increased, glacial lakes have been bursting out and frequency of floods and landslides is also on the rise, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Despite negligible contribution to the global emission of Green House Gases, the least developed countries are bearing the brunt of negative impact of the climate change, the minister added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"As a member-nation of the United Nations Framework Convention on Climate Change (UNFCCC), Nepal has actively advanced its efforts and engagement in the global fight against climate change," he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Sharma further noted that all countries should come up with concrete measures to reduce GHG emission so as to limit the rise of global temperature to an average of 1.5 degrees Celsius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister also informed that Nepal, as an ambitious climate change stakeholder, has devised numerous plans to enhance the climate change resilient capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Climate Change Policy, 2019 has explicitly set the goal of building climate resilient society and thereby contributing to the social-economic prosperity of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In materializing the goal, the national policy has taken several sub-policies, strategies and measures in the key thematic areas of climate change, the finance minister said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that Nepal has already signed the Paris Agreement and the UNFCCC. Nepal has set a target of becoming net zero emission country by 2045, he said, adding that the country has adopted a policy to spend at least 80 percent of the climate finance to respond to the negative impacts of climate change. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15740', 'image' => '20220914031045_grippa-index2.jpg', 'article_date' => '2022-09-14 15:10:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15998', 'article_category_id' => '1', 'title' => 'HAN Organising Hospitality Conclave for the First Time in Nepal', 'sub_title' => '', 'summary' => 'September 14: The Hotel Association of Nepal is preparing to organize Nepal Hospitality Conclave for the first time in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 14: The Hotel Association of Nepal (HAN) is all set to organize the Nepal Hospitality Conclave for the first time in Nepal in collaboration with BeanstalkAsia Nepal and WaterComm. According to HAN, the first edition of the conclave is to be held on September 25 at the Soaltee Hotel Kathmandu for which the registrations are now open. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">HAN President Shreejana Rana said in a statement that Nepal's first hospitality conclave will help find solutions to the current problems faced by the hotel sector and the ones that might arise in the future.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“Attention will be given to innovative ways of marketing to keep afloat the business that is recovering in the aftermath of the Covid-19 pandemic,” the statement quoted Rana as saying. It is believed that the conclave will play a central role in maintaining the standard of Nepal’s hospitality industry and overall tourism development through a day of discussion with national and international industry experts. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Senior Vice President of HAN, Binayak Shah, said that the number of tourists seen in the world market after the outbreak of coronavirus is limited, but since the market is open to all, it is a challenge to bring tourists to Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"There is an intense competition in the world market to attract tourists, pre-bookings have become common now," Shah said, adding, "We want to bring more tourists to Nepal. For this, we are going to hold a conference to decide the strategy to be adopted and to see the practices of other countries. The competition has increased, so a new strategy is necessary.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Shah, the tourism sector is going towards normalcy and it seems that the budget allocated by the government and monetary policy as well as the programmes announced so far will not be sufficient to revitalize the tourism industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There will be 7 sessions on different topics at the conclave. These sessions will come up with suggestions on policy and long-term policies to be adopted for the operation of the hotels and they will be presented to the relevant agencies of the government for implementation, the statement released by HAN says.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Subodh Thapa, the co-founder of the conclave, the goal of the conclave is to help the Nepali Hospitality Industry thrive by uniting all the representatives from its cross section for a day of discussion about the industry trends with the industry experts. NHC also provides a pavilion to exhibit relevant products and services, and a platform to network amongst each other. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The title sponsor of the Nepal Hospitality Conclave is the Sagtani Exim. The registration for the conclave is now open and the tickets can be purchased through the official website of the conclave (http://www.nepalhospitalityconclave.biz/) along with additional information regarding the event. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-16', 'keywords' => '', 'description' => '', 'sortorder' => '15739', 'image' => '20220915032106_1663140877.jpg', 'article_date' => '2022-09-14 15:08:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15997', 'article_category_id' => '1', 'title' => 'Government to Release Rupees One Billion to Settle Covid-19 Insurance Claims', 'sub_title' => '', 'summary' => 'September 14: The government has decided to release Rs 1 billion to settle the insurance claims related to Covid-19 which has been pending since a long time.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 14: The government has decided to release Rs 1 billion to settle the insurance claims related to Covid-19 which has been pending since a long time. A meeting of the Council of Ministers held last week took a decision to this effect.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Insurance companies are yet to settle insurance claims of more than Rs 11 billion related to coronavirus due to the delay on part of the government to release the funds. The government, the Insurance Board and the insurance companies are all responsible for settling the claims related to coronavirus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It may be noted that all non-life insurance companies had denied the settlement of coronavirus insurance claims in July 2020 after the government delayed the release of the allocated budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All 20 non-life insurance companies formally stopped the payment of coronavirus insurance since July 29, 2020 at the call of the Nepal Insurers Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The companies had delayed the settlement of claims related to coronavirus insurance citing the delay on part of the government in releasing the budget. The companies argued that they were facing difficulties in settling the claims from their funds after the government failed to release the promised money.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Later in December the same year, the insurance companies started expediting the process of claims settlement following assurance from the Ministry of Finance.</span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15738', 'image' => '20220914023807_20210801125408_20200426022909_1587852673.jpg', 'article_date' => '2022-09-14 14:37:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15996', 'article_category_id' => '1', 'title' => 'Li Discusses Bilateral Trade with Nepal during his Official Visit', 'sub_title' => '', 'summary' => 'September 14: Visiting Chief of the Chinese National People's Congress of the People's Republic of China, Li Zhanshu, paid a courtesy call on Prime Minister Sher Bahadur Deuba and leader of the main opposition party as well as former Prime Minister KP Sharma Oli on Tuesday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: Visiting Chief of the Chinese National People's Congress of the People's Republic of China, Li Zhanshu, paid a courtesy call on Prime Minister Sher Bahadur Deuba and leader of the main opposition party as well as former Prime Minister KP Sharma Oli on Tuesday.</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"">Li, who arrived in Nepal for a four-day official visit on Monday at the invitation of Speaker Agni Prasad Sapkota, had earlier held meetings with National Assembly Chairperson Ganesh Prasad Timilsina, CPN (Maoist Centre) Chair Puhspa Kamal Dahal and Foreign Minister Dr Narayan Khadka. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his meeting with PM Deuba, the two sides discussed about bilateral trade, investment, connectivity, passenger flights, and opening border ports among other issues.</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 Chinese delegation led by Li praised Nepal’s One-China Policy and the stance taken by the Government of Nepal not to allow any elements to use its territory to plot against China.</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"">On the occasion, Prime Minister Deuba thanked China for its continued support for the development of Nepal.</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"">Meanwhile, Li assured that the border dry ports will be opened as soon as the Covid-19 pandemic is brought under control in Tibet autonomous region of China.</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"">Li also assured that the Chinese government will facilitate in transporting goods for the upcoming festivals. </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"">Nepal-bound container goods ordered by Nepali importers are currently stuck across the northern border after China closed the Tatopani and Rasuwagadhi customs citing Covid-19 outbreak in Tibet.</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 Chinese delegation also pledged to implement the projects in Nepal with Chinese assistance. China also promised to support Nepal graduate from LDC to developing nation.</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"">Li will wrap up his four-day visit and return back to China on Thursday.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15737', 'image' => '20220914014307_RS-KTM-PMDeubaaa.jpg', 'article_date' => '2022-09-14 13:42:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15995', 'article_category_id' => '1', 'title' => 'FDI in Nepal Climbs to Rs 228 Billion ', 'sub_title' => '', 'summary' => 'September 14: Nepal received foreign direct investment of over Rs 227 billion from 55 countries as of mid-July this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 14: Nepal received foreign direct investment of over Rs 227 billion from 55 countries as of mid-July this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a survey on foreign direct investment (FDI) conducted by the Nepal Rastra Bank, the FDI stocks in Nepal climbed to Rs 227.9 billion at the end of the fiscal year (FY 2020/21) with an increase of 14.8 percent compared to the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey report released by the central bank on Tuesday, the share of paid-up capital in Nepal’s FDI stocks is 53.9 percent whereas the reserves account for 31.6 percent, and the share of loans is 14.5 percent. The overall foreign direct investment has increased as the share of paid-up capital increased by 13.7 percent, says the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB reports shows that foreigners have invested mostly in banks and financial institutions, insurance companies, projects hotels and restaurants.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey, the industrial sector accounts for about 60.5 percent of the total FDI stocks of which hydropower sector constitutes 30.8 percent and manufacturing sector 29.5 percent of total FDI stocks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">About 39.4 percent of total FDI stocks are in the service sector of which financial and insurance sector constitutes 26.9 percent, accommodation and food services sector 5.7 percent, and information and communication sector 4.8 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey covered 197 firms out of 604 companies that have taken FDI approval from Nepal Rastra Bank as of the end of FY 2020/21. The Research Department of NRB informed that the details on FDI stocks were obtained from the financial statements of the surveyed companies as well as from standard questionnaire. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of total FDI stocks, neighbouring India ranks top with Rs 75.8 billion followed by China (Rs 33.0 billion), Ireland (Rs 16.5 billion), Singapore (Rs 15.5 billion) and Saint Kitts and Nevis (Rs14.5 billion).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NRB, the capacity utilization of FDI-based manufacturing companies stands at 64.9 percent, while the profitability of FDI companies remains at 14.7 percent in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15736', 'image' => '20220914122931_Foreign investment.jpg', 'article_date' => '2022-09-14 12:28:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15994', 'article_category_id' => '1', 'title' => 'Cabinet Approves Concessional Loan of Rs 35 Billion from World Bank ', 'sub_title' => '', 'summary' => 'September 14: The government has approved concessional loan of Rs 35 billion (USD 275 million) to be received from the World Bank.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 14: The government has approved concessional loan of Rs 35 billion (USD 275 million) to be received from the World Bank. According to Government Spokesperson Gyanendra Bahadur Karki, the loan would be spent on programmes to promote transportation and trade connectivity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Karki, who is also the Minister for Communication and Information Technology, confirmed this during a press conference organized on Tuesday to share the decisions taken by the Council of Ministers a day ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Karki said the cabinet meeting also decided to form a talks team for receiving a grant of USD 12 million from the Asian Development Bank (ADB) for strengthening the system to protect and uplift women. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting has also decided to approve a team of Finance Minister Janardan Sharma to participate in the joint meeting of the World Bank Group and the International Monetary Fund in Washington DC of the United States of America. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15735', 'image' => '20220914112204_World.jpg', 'article_date' => '2022-09-14 11:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15993', 'article_category_id' => '1', 'title' => 'Taskforce Submits Report on Loan Sharking ', 'sub_title' => '', 'summary' => 'September 13: The taskforce formed by the government to recommend measures to curb loan sharking has submitted its report to Home Minister Bal Krishna Khand. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 13: The taskforce formed by the government to recommend measures to curb loan sharking has submitted its report to Home Minister Bal Krishna Khand. Coordinator of the taskforce Dr Bhishma Kumar Bhusal submitted the report to Minister Khand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As stated in the report, a total of 2,289 complaints were received relating to loan sharking and of them 59 cases were settled while seven cases have been filed in the concerned courts. Likewise, police have been probing into seven other issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the victims have filed more than four complaints against 33 loan sharks accusing them of charging exorbitant interest rates to the poor people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report has included issues such as the compulsion of the poor people to seek loan with loan sharks, reasons behind lack of access to banks and financial institutions among the poor farmers, processes to receive loans from such informal channels, viscous cycle of exorbitant interest, international practices on the actions against loan sharks and other issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the recommendations made in the report, the local administration would continue the investigation against the complaints related to this crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recommendations of the taskforce vary from political commitment to government's policy and programme, raising awareness and legal reforms, financial literacy and fiscal access and others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government had formed the taskforce a month ago seeking recommendation to curb loan sharking. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-09-14', 'modified' => '2022-09-14', 'keywords' => '', 'description' => '', 'sortorder' => '15734', 'image' => '20220914105247_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2022-09-14 10:52:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15990', 'article_category_id' => '1', 'title' => 'NADA EV Expo from September 22', 'sub_title' => '', 'summary' => 'September 13: NADA Automobiles Association of Nepal is going to organize an exhibition of electric vehicles from September 22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 13: NADA Automobiles Association of Nepal is going to organize an exhibition of electric vehicles from September 22. NADA informed during a press conference organized on Monday that “NADA EV Expo 2022” will be organized from September 22 to September 25 at Bhrikutimandap exhibition hall in Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NADA said that the fair with focus on electric vehicles is being organized for the first time in Nepal. The fair will feature stalls for the purchase of electric vehicles, their parts and financial services.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Electricity Authority is a supporting organization of the fair where USAID Clean Air is the knowledge partner. USAID Clean Air will conduct a three-day informative conference called “EV Chautari” as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">CEAT Tyre is the prime sponsor of the fair whereas Shikhar Insurance Company is the co-sponsor. Anup Baral, chairman of the NADA EV Expo Committee informed that Khalti app is associated as the digital payment partner with the fair. The manager of the fair is Global Exposition and Management Services. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dhruba Bahadur Thapa, president of NADA, informed that public’s interest in electric vehicles is increasing in Nepal and at least 10 percent of the vehicles available in the market are electric.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the information of NADA, there will be 51 stalls and blocks in the fair. Similarly, there will be stalls of seven brands of four-wheelers, one brand of three-wheelers, 16 brands of two-wheelers, three brands of tires, two brands of batteries, and 9 brands of spare parts. Also, garage equipment company, auto magazine and four financial institutions will have stalls.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NADA says that tickets can be purchased online through the Khalti app. Tickets purchased from Monday till September 22 will get discounts. There is an offer of 25% cash back when buying tickets from the Khalti app. The ticket price is fixed at Rs150 for students and Rs 200 for the general public.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15732', 'image' => '20220913042706_1663024593.Clipboard03.jpg', 'article_date' => '2022-09-13 16:26:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15992', 'article_category_id' => '1', 'title' => 'Fire at E-Scooter Showroom in India Kills Eight ', 'sub_title' => '', 'summary' => 'September 13: A fire that started at an electric scooter showroom in South India on Monday killed at least eight people and injured 11.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 13: A fire that started at an electric scooter showroom in South India on Monday killed at least eight people and injured 11, Reuters reported citing the police. According to the news agency, it was the deadliest such incident involving electric vehicles in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“A spate of electric scooter fires this year has alarmed the government, which is keen to promote use of such two-wheelers in its fight against pollution,” Reuters further stated. Early investigations have identified faulty battery cells and battery modules among the main causes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The latest fire broke out late on Monday in a hotel basement housing the showroom with some two dozen electric scooters in the southern city of Secunderabad, Reuters said. Citing the local police, Reuters said that the fire has been brought under control and an investigation has been launched.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Most of the dead were occupants of the hotel, which was engulfed by smoke.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"We don't know if the fire started because of overcharging and then spread or whether it started elsewhere. That is still being established," Reuters quoted police official Chandana Deepti as saying.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The identity of the dealer and the maker of scooters being sold was not immediately clear.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the news report, police and firefighters used cranes and other equipment to pluck stranded hotel guests from upper floors of the four-storey building as smoke billowed out of its windows.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Those staying on the first and second floors were overpowered by smoke and the maximum casualties are from those floors," CV Anand, the police chief of the neighbouring city of Hyderabad, told ANI.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Reuters, India launched an investigation over safety concerns in March after a string of e-scooter fires, including one in which a man and his daughter died when their e-bike "went up in flames".</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“India wants e-scooters and e-bikes to make up 80% of total two-wheeler sales by 2030, from about 2% now.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15731', 'image' => '20220913044634_20220330070939_EV fire.jpg', 'article_date' => '2022-09-13 16:45:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15989', 'article_category_id' => '1', 'title' => 'Capital Requirement Fixed for New Stock Exchange won't be Applicable for NEPSE', 'sub_title' => '', 'summary' => 'The minimum paid-up capital of Rs 3 billion fixed for stock exchange company does not apply for the stock exchange company which is currently in operation.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 13: The minimum paid-up capital of Rs 3 billion fixed for stock exchange company does not apply for the stock exchange company which is currently in operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal made such arrangement by announcing the second amendment to the Securities Market Operation Regulations, 2079 on Monday. There is also a provision in the revised regulations for the new stock exchange to issue at least 30 per cent of its issued capital shares to the general public within two years of conducting business.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">It is also mentioned in the regulations that this arrangement to issue IPO to the general public does not apply to the currently operating stock exchange. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Arrangements have been made so that only private companies or institutions established according to the law can acquire shares of the new stock exchange company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Provision has been made for the new stock exchange company to take necessary cooperation and technical assistance from internationally renowned securities market regarding the transaction system and other related technologies. Provisions have also been made in the regulations that business system servers and data hosting cannot be kept abroad without the consent of the Government of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The state-owned Nepal Stock Exchange is the only stock exchange company currently operation in Nepal. Neighbouring India has two stock exchange companies.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-13', 'modified' => '2022-09-13', 'keywords' => '', 'description' => '', 'sortorder' => '15730', 'image' => '20220913042622_1663042405.1662772852.nepse.jpg', 'article_date' => '2022-09-13 16:17:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
