September 8: Authorities have warned of action against tourist guides and hotel entrepreneurs involved in taking tourists inside the premises of Bouddhanath Stupa, a UNESCO World Heritage Site, without tickets.…
September 8: Authorities have warned of action against tourist guides and hotel entrepreneurs involved in taking tourists inside the premises of Bouddhanath Stupa, a UNESCO World Heritage Site, without tickets.…
September 8: Prime Minister Sher Bahadur Deuba has expressed dissatisfaction over the working style of the civil…
September 8: New Business Age Pvt Ltd is organizing Green Ride Cycle Rally targeting corporate…
September 8: The government has decided to open advance ticket bookings for Dashain from September 17.…
September 8: Apples produced in Mustang will be available in the market in the third week of September this year.…
September 8: The government has revised the tax rates that courted controversy for favouring certain business…
September 8: The goods that are being imported to Nepal for the Dashain festival have been stopped across the northern border due to lockdown in Tibet autonomous region of…
September 7: Stakeholders have demanded a feasibility study for establishing a new industrial estate in Bara-Parsa Industrial Corridor due to the difficulty in acquiring land in the existing industrial area.…
September 7: Members of Parliament on Tuesday drew the government’s attention to contemporary political and national…
September 7: It is estimated that the two new international airports of Nepal, which are ready for operation, will take 10 to 15 years to generate…
September 7: It has been found that most of the investments of insurance companies have been accumulated in fixed deposits of banks and financial…
September 7: The external sector of the economy is under pressure due to the devaluation of Nepalese currency.…
September 7: The fourth edition of Nepal Infrastructure Summit is all set to kick off in Kathmandu from…
September 7: Mountaineers are growingly attracted towards climbing Mt Manaslu (8,163m), the eighth highest peak in the world.…
September 6: Rastriya Beema Company, the one and only state-owned non-life insurance company of Nepal, is struggling to meet the paid-up capital limit fixed by the Insurance…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: Authorities have warned of action against tourist guides and hotel entrepreneurs involved in taking tourists inside the premises of Bouddhanath Stupa, a UNESCO World Heritage Site, without tickets. The Bouddhanath Area Development Committee has issued such warning after tourist guides and hotel entrepreneurs were found to have facilitated the entry of tourist inside the world heritage site without tickets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Director of the Committee, Nayan Kumar Lama, told RSS that list of the hotels located from Chuchchepati to Jorpati is being prepared in the first phase for action. Ticket counter of the committee remains open from 10:00 am to 5:00 pm but the tourism entrepreneurs have been colluding with concerned parties to evade the ticket counter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the committee, tourists are found staying at hotels in the night and visiting Bouddhanath area in the morning without ticket. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Tourists are found entering the Bouddhanath Stupa premises without ticket in collusion with hotel entrepreneurs, tourist guides and staff deputed at the ticket counter,” the committee said in a statement. The committee held discussion with hotel entrepreneurs in this regard in the first phase and is planning to take action. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee has determined the entry fee for tourists from SAARC countries at Rs 100 per person and Rs 400 per person for visitors from other countries except SAARC nations. Thousands of tourists visit Bouddhanath area every month. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15699', 'image' => '20220908050223_bouddhanath.jpg', 'article_date' => '2022-09-08 17:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15957', 'article_category_id' => '1', 'title' => 'Civil Servants do not Perform their Duties: PM Deuba', 'sub_title' => '', 'summary' => 'September 8: Prime Minister Sher Bahadur Deuba has expressed dissatisfaction over the working style of the civil servants.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 8: Prime Minister Sher Bahadur Deuba has expressed dissatisfaction over the working style of the civil servants. While addressing a programme held on Wednesday on the occasion of the Civil Service Day, he said that not only politicians but also civil servants are equally responsible of the deteriorating situation of the country.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deuba said that the situation has become so dire that foreign help is necessary even for paying the salaries of the employees.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> “There is no money, how long are we going to seek funds from abroad?” Deuba questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that it is necessary to find out what caused the country's downfall. PM Deuba pointed out the need for a comprehensive discussion on why the country could not develop. He said that there is no progress because the employees do not want to go to remote areas. He complained that the country is lagging behind even when there are local, state and central governments.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The PM also questioned who is responsible for the country's downfall. He questioned, “Is it only the political parties or the bureaucracy as well? Why are the works not being done? Let's have a broad discussion. We are here for 5 years. But you will be here until you retire. None of the work is accomplished. The country is in turmoil. The employees go to the office, sign attendance and return back. They don't even stay at the office,” said Deuba.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that if the government employees do not cooperate, nothing can be achieved through policies and political parties alone. “The country cannot move forward unless there is support (from the employees). If the permanent government does not work, how can the country move forward?” Deuba questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also said that no country can move forward without the help of bureaucracy. “Bureaucracy is the first means of serving the people. If it doesn't work, how will the country be built?” Dexpressed his dissatisfaction, adding, “There are no doctors in the hospitals. There are no engineers. The CDO sometimes goes to the office but returns back almost immediately.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">At the programme, PM Deuba also instructed the employees to work responsibly in all places. He also made it clear that the government is ready to provide necessary facilities to the employees to work for the development of the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15698', 'image' => '20220908043822_deubaji.jpg', 'article_date' => '2022-09-08 16:36:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15956', 'article_category_id' => '1', 'title' => 'New Business Age organizing Green Ride Cycle Rally on Sept 24', 'sub_title' => '', 'summary' => 'September 8: New Business Age Pvt Ltd is organizing Green Ride Cycle Rally targeting corporate houses.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 8: New Business Age Pvt Ltd is organizing Green Ride Cycle Rally targeting corporate houses.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This event is being organized with the slogan 'When going gets tough, the tough get cycling'. The 20-kilometer cycle rally will be held on Saturday, September 24.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The cycle rally will start from Thapathali-based office of New Business Age and end after reaching Park Village Resort, Budhanilkantha. The rally will start at 7 am and the route has been fixed from Thapathali to Putlisadak, Durbarmarg, Sorhakhutte, Balaju Bypass, Tarakeshwar, Tokha, Chandeshwari, Dulal Tole and end at Park Village Resort, Budhanilkantha.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the organisers, the bicycle rally is being held in Kathmandu Valley to raise public awareness about carbon emission reduction and to encourage the use of green energy. Those who want to participate in the rally will have to pay a fee of Rs 1,500. For registration, interested candidates can fill up Google form available on the Facebook and Instagram pages of New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Individuals can rent bicycles by paying an additional fee. All the participants will be provided with jersey in addition to paramedic (ambulance with ventilator) service, emergency medical treatment and accident insurance up to Rs 100,000. Also, a water station will be placed every 5 kilometers. At the end of the rally, the participants will be given a certificate and lunch.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1317.html">panerai watch replica swiss</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1318.html">replica rolex daytona watch straps</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1319.html">buy rolex gmt master ii replica</a> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In recent times, lakes and ponds are drying up in some places due to the global climate change and temperature rise while extreme drought is observed in some places while other areas are witnessing excessive rainfall. Natural disasters such as floods and landslides are also reported frequently. Although Nepal's contribution to global carbon emissions is low, the emissions cannot be ignored. Nepal has set a goal of becoming a zero carbon emitter by 2045.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The form is available in the link below:</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">https://docs.google.com/forms/d/e/1FAIpQLSe-5CaZXPwfiY-BqlpVLU5TBTJLG52qKpZtr0eVSx6VpKTUEw/viewform</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-09', 'keywords' => '', 'description' => '', 'sortorder' => '15697', 'image' => '20220908032301_1662617812.new.jpg', 'article_date' => '2022-09-08 15:22:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15954', 'article_category_id' => '1', 'title' => 'Advance Ticket Booking for Dashain to Open from September 17', 'sub_title' => '', 'summary' => 'September 8: The government has decided to open advance ticket bookings for Dashain from September 17. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">September 8: The government has decided to open advance ticket bookings for Dashain from September 17. A meeting of the Department of Transport Management chaired by Director General Tokraj Pandey on Wednesday decided to open advance ticket bookings from Saturday, September 17, targeting the festive season.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Bijay Bahadur Swar, president of the Federation of Nepalese National Transport Entrepreneurs, informed that the meeting has directed transport entrepreneurs to arrange for online booking as far as possible and also to provide discounts to the passengers who book tickets online.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the meeting has decided to effectively monitor advance ticket booking and passenger vehicles leaving and entering the valley in collaboration between the department, traffic police, consumer forum, transport entrepreneurs and laborers. The meeting has also urged all stakeholders to adopt adequate health standards keeping in mind the Covid-19 pandemic. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">General Secretary of the federation Deknath Gautam informed that it has been decided to completely discourage the act of selling tickets from unauthorized counters and people who do not have an identity card.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The meeting has also decided to request the concerned bodies to repair the major roads and to facilitate the traffic operation. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In order to facilitate traffic movement, it has been decided to prohibit the operation of large vehicles, except the ones used for the transportation of essential items such as food grains, from Narayanghat to Kathmandu from October 1 to 8. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The meeting was attended by Director General Pandey, Chief of Kathmandu Valley Traffic Police Office, Deputy Inspector General of Police Meera Chaudhary, DoTM directors Radhakrishna Khatiwada and Ishwaridatta Paneru, FNNTE President Swar, Senior Vice President Saroj Sitaula and other stakeholders.</span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15695', 'image' => '20220908025647_Transport.jpg', 'article_date' => '2022-09-08 14:55:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15953', 'article_category_id' => '1', 'title' => 'Mustang Apples will be Available in the Market Soon', 'sub_title' => '', 'summary' => 'September 8: Apples produced in Mustang will be available in the market in the third week of September this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 8: Apples produced in Mustang will be available in the market in the third week of September this year. Stakeholders and apple farmers have reached an understanding to pick and sell apples in the district from September 10 onwards.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">By now, the apples have already ripened on the plant. Ripe and red apples can be seen along the road while going uphill from Kobang, Thasang rural municipality-2 of Mustang through the Beni-Jomsom road. Local residents say that tourists who come to visit Mustangs stop their cars and take selfies, make videos and buy the apples as souvenirs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the next few days, the farmers will get busy in picking the ripe apples and deliver them to the market. Farmers here are also excited after getting permission to pick apples five days earlier this year than last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Last year, permission was given to pick and sell apples from September 17. It is estimated that both the farmers and traders will benefit this time. Last year, both the farmers and traders had to bear losses due to the unavailability of markets for apples on time.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15694', 'image' => '20220908022220_apple.jpg', 'article_date' => '2022-09-08 14:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15952', 'article_category_id' => '1', 'title' => 'Government Revises Controversial Tax Rates', 'sub_title' => '', 'summary' => 'September 8: The government has revised the tax rates that courted controversy for favouring certain business establishments.', '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:"Nirmala UI","sans-serif"">September 8: The government has revised the tax rates that courted controversy for favouring certain business establishments.</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:"Nirmala UI","sans-serif"">The controversial tax provisions included in the budget for the current fiscal year has been amended by a cabinet meeting on Wednesday upon the recommendation of Finance Minister Janardan Sharma.</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:"Nirmala UI","sans-serif"">Finance Minister Sharma was forced to resign from his post after he was accused of changing the tax rates by inviting unauthorized persons inside the ministry on the eve of the budget announcement. Around half a dozen Galvanized Iron (GI) wire industries of Biratnagar were forced to shut down due to the change in tax rates. Industrialists of eastern Nepal has resorted to protest against the unfair tax rates imposed by the government.</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:"Nirmala UI","sans-serif"">The Council of Ministers has revised the tax rates of sanitary pads, GI wire and cooking oil.</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:"Nirmala UI","sans-serif"">According to informed sources, the cabinet meeting has revoked the decision to increase the tax imposed on raw materials required for producing GI wire and fixed the old rate.</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:"Nirmala UI","sans-serif"">The importers will have to pay only 5 percent customs duty to bring the raw materials required for GI wire industry. However, the government has not changed the excise duty imposed on this material.</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:"Nirmala UI","sans-serif"">The government has also decided to lower the customs duty on raw materials required for producing sanitary pads within 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:"Nirmala UI","sans-serif"">The government had announced in the budget for the current fiscal year to waive 90 percent tax for the import of ready-made sanitary pads. This put the domestic industries that produce sanitary pads in trouble because the cost of production would be higher than the imported pads.</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:"Nirmala UI","sans-serif"">The government had made arrangements for biscuit and noodle industries to import readymade edible oil by paying just 5 percent taxes while the cooking oil manufacturing companies had to pay 10 percent taxes for importing raw materials required for producing oil. Now, the government has lowered the taxes on raw materials to 5 percent.</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:"Nirmala UI","sans-serif"">Meanwhile, the government has not changed the customs duty imposed for the import of electric vehicles despite adopting a policy to promote clean energy.</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"">Sharma, who courted controversy for changing the tax rates in favour of certain business houses, was reinstated to his post after the parliamentary probe committee gave him a clean chit into the allegation. </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"">Soon after his reinstatement, Sharma had formed a committee to study the issue of the controversial tax rates. The committee was headed by Revenue Secretary Rameshwar Dangal. Other members of the committee included Director General of the Inland Revenue Department Ritesh Shakya, Revenue Division’s Chief Bhupal Baral ad Director General of the Department of Customs Kamal Bhattarai.</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"">Minister Sharman urged the cabinet to change the tax rates as per the recommendation of the committee.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15693', 'image' => '20220908125429_1662590300.Clipboard13.jpg', 'article_date' => '2022-09-08 12:53:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15951', 'article_category_id' => '1', 'title' => 'Goods Brought for Dashain Stopped in Tibet ', 'sub_title' => '', 'summary' => 'September 8: The goods that are being imported to Nepal for the Dashain festival have been stopped across the northern border due to lockdown in Tibet autonomous region of China. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: The goods that are being imported to Nepal for the Dashain festival have been stopped across the northern border due to lockdown in Tibet autonomous region of China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Containers loaded with clothes, electronic devices, fruits and other items are not allowed to enter Nepal on the pretext of controlling the Covid-19 infection. The Nepal-bound fruits have started decaying, said Chairperson of Sindhupalchowk Chamber of Commerce and Industry, Raj Kumar Basnet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The apples loaded in some 50 containers are getting decayed,” said Basnet. Most of the apples imported to Nepal are from 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"">The Chinese government has ordered to stop the goods-carrying vehicles entering Lhasa from mainland China for the time being reasoning that there is still lockdown in Tibet after the spread of coronavirus infection. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair Banset shared that more than 200 containers have been stopped at Keyrong and around 100 containers at Khasa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Tatopani Dry Port Customs Office, Narad Gautam, confirmed that the import of goods has been halted. He added that the lockdown imposed in different cities of Tibet since August 8 due to coronavirus infection is still in place. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subas Timilsina, a Nepali businessperson, complained that Nepali importers bringing different goods from China have been facing problems due to the lockdown imposed in Tibet. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15692', 'image' => '20220908110826_Rasuwagadhi border point.jpg', 'article_date' => '2022-09-08 11:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15950', 'article_category_id' => '1', 'title' => 'Stakeholders Demand Feasibility Study for Establishing New Industrial Estate in Bara-Parsa Corridor', 'sub_title' => '', 'summary' => 'September 7: Stakeholders have demanded a feasibility study for establishing a new industrial estate in Bara-Parsa Industrial Corridor due to the difficulty in acquiring land in the existing industrial area. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Stakeholders have demanded a feasibility study for establishing a new industrial estate in Bara-Parsa Industrial Corridor due to the difficulty in acquiring land in the existing industrial area. Birgunj Chamber of Commerce has requested the Industrial District Management Limited to conduct a feasibility study to set up a new industrial estate in the region.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon the request from industrialists, the Ministry of Industry, Commerce and Supplies has already started the process to establish a new industrial estate in this region. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the Industrial District Management Limited has urged the chamber to help them in conducting the feasibility study. Vice President of Birgunj Chamber of Commerce Hari Gautam informed that they are ready to cooperate with the Industrial District Management Limited to conduct the feasibility study. Gautam said that the chamber has requested the Industrial District Management Limited to carry out the feasibility study as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Gautam, preparations are underway to conduct a feasibility study on establishing a new industrial estate in 650 bighas (47,385,000 square feet) of land in the name of a Guthi (trust) in ward number 31 of Birgunj Municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The task force to conduct the study will include representatives from the Guthi corporation, Birgunj Municipality, Land Revenue Office, Land Management Office and the Land Survey Office.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction of the industrial estate will start after the task force submits its report to the government and the Council of Ministers approves it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Industry, Commerce and Supplies had instructed the concerned authorities on April 28 to conduct a detailed study for setting up an industrial estate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The local industrialists of Bara-Parsa Industrial Corridor have been demanding a new industrial estate due to the rising prices of land in the area as well as conflict with the locals and problems related to sewerage management. Birgunj is the biggest industrial area of the country. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15691', 'image' => '20220907062642_Industries.jpg', 'article_date' => '2022-09-07 18:25:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15949', 'article_category_id' => '1', 'title' => 'UML Lawmaker Against the Idea of a New Stock Exchange Company', 'sub_title' => '', 'summary' => 'September 7: Members of Parliament on Tuesday drew the government’s attention to contemporary political and national issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 7: Members of Parliament on Tuesday drew the government’s attention to contemporary political and national issues. During the House of Representatives meeting on Tuesday, UML MP Krishna Prasad Dahal raised the issue of a new stock exchange company. Speaking at the zero hour of the meeting, he said that another stock exchange company was not necessary. He opined that Nepal Stock Exchange, which is currently in operation, should be made capable and strong, rather than introducing new stock exchange companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He stressed on modernizing the Nepal Stock Exchange (NEPSE) in order to make it effective and strong. He said that Nepal's capital market is not in a position to support a new stock exchange company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dahal also said that the government is about to issue license to a new stock exchange company in an unauthorized manner. He accused the government of taking a wrong decision saying that such a new organization was not necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal recently amended the 'Securities Market Operation Regulations, 2064' to allow the private sector to issue stock exchange licenses. In the regulations, the board increased the paid-up capital of stock exchange companies to a minimum of Rs 3 billion. Currently, the paid up capital of the stock exchange company is Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, NEPSE’s Manager Niranjan Phuyal insists that a new stock exchange company is necessary. He argues that the state-owned NEPSE is not able to perform well. According to Phuyal, if NEPSE faces any technical problem it will take nine months to purchase new technology as they have to go through public procurement process. Therefore, Phuyal says there is a need of another stock exchange company to make the stock market competitive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15690', 'image' => '20220907055411_share.jpg', 'article_date' => '2022-09-07 17:53:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15948', 'article_category_id' => '1', 'title' => 'New Airports to Generate Profit after a Decade', 'sub_title' => '', 'summary' => 'September 7: It is estimated that the two new international airports of Nepal, which are ready for operation, will take 10 to 15 years to generate profit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 7: It is estimated that the two new international airports of Nepal, which are ready for operation, will take 10 to 15 years to generate profit. The Civil Aviation Authority of Nepal says that the airports, which are ready after almost seven decades, will take time to make profit.</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"">Bhairahawa-based Gautam Buddha International Airport is the second international airport of Nepal after the Tribhuvan International Airport while the Pokhara Regional International Airport will come into operation from January 1, 2023.</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"">CAAN Spokesperson Jagannath Niraula said that the construction of the airports was delayed due to the Covid-19 pandemic.</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"">Niraula says that Pokhara Regional International Airport will earn profit after 15 years while Gautam Buddha International Airport will generate profit after 10 years. </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"">Spokesperson Niraula said that 50 percent of the Chinese tourists visit Pokhara and Chinese airline companies have also shown interest to operate flights to the Pokhara Regional International Airport. </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 the CAAN, the number of air passengers is increasing every year by ten percent. Therefore, CAAN believes that more airline companies will operate flights to the new airports because the number of passengers is increasing every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15689', 'image' => '20220907042148_Pokhara-Airport-800X533.jpg', 'article_date' => '2022-09-07 16:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15947', 'article_category_id' => '1', 'title' => 'Insurance Companies Deposit Most of the Money in Fixed Deposits of Banks', 'sub_title' => 'Insurance Companies Fail to Diversify Investment', 'summary' => 'September 7: It has been found that most of the investments of insurance companies have been accumulated in fixed deposits of banks and financial institutions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 7: It has been found that most of the investments of insurance companies have been accumulated in fixed deposits of banks and financial institutions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The insurance companies have deposited the amount collected as insurance fee in fixed deposit accounts after failing to diversify their investment as per the guidelines of the Investment Board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Insurance Board, by the end of the fiscal year 2021/22, 19 life insurance companies and 20 non-life insurance companies invested a total of Rs 527.8 billion. Among these investments, 408 billion has invested in fixed deposits of banks and financial institutions. This is 77.48 percent of the total investment of insurance companies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Among the fixed deposits, the highest investment is in commercial banks, which accounts for 67.24 percent of the total investment followed by development banks (9.09 percent) and finance companies (1.10 percent).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Insurance Board had changed the investment guidelines three years ago and allowed to diversify investment as per the suggestion of the insurance companies. However, they are still unable to invest. As a result, they focused on fixed deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The guidelines issued by the board in March 2019 has opened way to invest in infrastructure and productive sectors such as real estate business, water resources, agriculture, tourism, in addition to fixed deposits and shares. However, insurance companies do not seem to be attracted to other areas except fixed deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the guidelines, companies should invest a minimum of 40 percent of their total technical reserve in fixed deposits of commercial and infrastructure banks and a minimum of 5 percent in government bonds. Similarly, a maximum of 20 percent can be invested in development banks and a maximum of 10 percent in finance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, they can invest up to 5 percent in real estate business, up to 10 percent in ordinary shares of listed companies, up to 20 percent in preference shares, up to 20 percent in shares of listed companies, up to 20 percent in infrastructure including agriculture, tourism and water resources, and up to 5 percent in Citizens Investment Trust and mutual funds.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The insurance companies are not yet able to diversify their investments according to the guidelines. Most of their investments are concentrated in fixed deposits of banks and financial institutions followed by bonds and stock markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Following the guidelines, a minimum of 40 percent should be invested in the fixed deposits of Nepal Infrastructure Bank, but the companies have invested only 0.05 percent. Five life insurance companies namely Life Insurance Company, Surya Life Insurance Company, Prime Life Insurance Company, Jyoti Life Insurance Company and Sun Nepal Life Insurance Company have invested Rs 250 million in this bank, which includes Rs 50 million each. Non-life insurance companies are yet to invest in infrastructure banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chairman of the Insurance Board, Surya Prasad Silwal said that insurance companies failed to invest according to the guidelines. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“According to the demand of the companies, we diversified the areas of investment by changing the guidelines. But they do not want to take the investment risk,” said Silwal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Silwal added that the capital accumulated in the insurance companies should contribute to the development of the country and they need to be forced to invest in the productive sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A year ago, the board also issued instructions to invest according to the guidelines, saying that the insurance companies did not invest in the infrastructure development sector. Despite the instructions, the companies invested only 1.41 percent or Rs 7.45 billion in the infrastructure sector. The board informed that out of this amount, the investment of life insurance companies amounted to Rs 7.14 billion and the investment of non-life insurance companies was more than Rs 300 million. The directive allows insurance companies to invest in the real estate sector as well. However, the companies are reluctant to invest in this sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15688', 'image' => '20220907110038_Insurance.jpg', 'article_date' => '2022-09-07 10:59:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15946', 'article_category_id' => '1', 'title' => 'Nepal’s Public Debt Increases by Rs 300 Billion in a Year', 'sub_title' => '', 'summary' => 'September 7: The external sector of the economy is under pressure due to the devaluation of Nepalese currency. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The external sector of the economy is under pressure due to the devaluation of Nepalese currency. As Nepal has to pay the loans and interest taken from different countries and donor agencies in US dollars or other convertible currencies, the external sector is under pressure due to the rising price of US dollar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been taking loans in US dollar, euro, Chinese yuan, Japanese yen, and British pound. The country needs to pay the interest on such loans in foreign currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late, the Nepalese currency is being devalued against the US dollar and other foreign currencies resulting in pressure to the external sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under Secretary at the Public Debt Management Office, Dinesh Regmi, admits that the country’s external sector is under pressure to manage foreign debt due to the devaluation of Nepalese currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The foreign loans have to be paid in terms of US dollars or other foreign currency. Since the value of US dollar is increasing, the amount of loan to be repaid by the country is also increasing,” said Regmi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The foreign exchange rate is causing problems for us a lot,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has to bear an additional cost of Rs 22.7 billion while repaying foreign debt every three months due to the volatile foreign exchange rate. According to the office, Nepal paid a total of Rs 117.42 billion as loan and interest during the last fiscal year. During the review year, Nepal repaid loans of Rs 72.8 billion and interest of Rs 44.61.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal had to pay a fine of Rs 41 million during the last fiscal year, the Public Debt Management Office informed. According to the office, the fine was imposed due to the delay in payment of the interest and loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Nepal’s public debt has been increasing in recent years. As per the latest data released by the Public Debt Management Office, the total public debt of Nepal is more than Rs 2011 billion. Out of this amount, Nepal’s foreign debt is Rs 1025 billion while internal debt is Rs 900.86 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The public debt of Nepal increased by around Rs 300 billion by the end of last fiscal year (FY 2021/22) as compared to the previous fiscal year (FY 2020/21). Nepal’s public debt was Rs 1737 by the end of Fiscal Year 2020/21.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15687', 'image' => '20220907103815_public debt.jpg', 'article_date' => '2022-09-07 10:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15945', 'article_category_id' => '1', 'title' => 'Infrastructure Summit to Kick off on Thursday', 'sub_title' => '', 'summary' => 'September 7: The fourth edition of Nepal Infrastructure Summit is all set to kick off in Kathmandu from Thursday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The fourth edition of Nepal Infrastructure Summit is all set to kick off in Kathmandu from Thursday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The two-day event is being organized by the Confederation of Nepalese Industries in collaboration with the Ministry of Physical Infrastructure and Transport. The CNI has been organizing this event since 2014. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The organisers informed that the stakeholders will discuss issues ranging from transportation to energy, urban development, drinking water and sanitation, climate change, infrastructure projects among other topics during the summit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The theme of this year’s summit is ‘Infrastructure for Development’.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The organisers expect investment commitment for green infrastructure and economic revival during the summit. The summit is also expected to stress on policy intervention for innovative financial framework, foreign direct investment, participation of private sector and digital transformation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Experts from the country and abroad as well as representatives of all three tiers of government and the private sector will hold indepth discussion on investment for infrastructure, successful practices of infrastructure development across the world and obstacles in achieving infrastructure development,” reads a statement issued by CNI.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, different sessions of the summit will be attended by former prime ministers, incumbent ministers in the federal government, chief ministers of provinces, mayors, members of National Planning Commission, professors and representatives from Nepal Rastra Bank, World Bank, Asian Development Bank. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Investment Board Nepal and Youth Community for Nepalese Contractors are the co-sponsors of the event. According to the CNI, the event will be held on September 8 and 9.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The summit is expected to draw over 500 participants including representatives of the Government of Nepal, private sector, foreign dignitaries, think tanks and investors.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15686', 'image' => '20220907100040_infra.jpg', 'article_date' => '2022-09-07 10:00:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15944', 'article_category_id' => '1', 'title' => 'Majority of Climbers Acquire Permits to Scale Mt Manaslu during this Autumn', 'sub_title' => '', 'summary' => 'September 7: Mountaineers are growingly attracted towards climbing Mt Manaslu (8,163m), the eighth highest peak in the world. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Mountaineers are growingly attracted towards climbing Mt Manaslu (8,163m), the eighth highest peak in the world. The number of climbers seeking permission to climb Mt Manaslu during this autumn season is highest among all other mountain peaks, reports the state-owned national news agency RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Tourism, a total of 237 climbers of 25 expedition teams have been granted permission to scale different peaks in Nepal including Mt Everest. Most of them will be climbing Mt Manaslu. The department informed RSS that altogether 214 climbers of 19 expedition teams will be climbing Mt Manaslu this season. Among them, 160 are female and 50 are male climbers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manaslu has become the preferred choice among the climbers as the autumn season is considered ideal for climbing the mountain peak. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung says that the number of climbers aspiring to scale Mt Manaslu is encouraging this year just like in the past years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Managing Director of Seven Summit Treks Pvt Ltd Mingma Sherpa confirmed that lots of tourists are acquiring permits to climb Mt Manaslu this year. According to Sherpa, his company will be assisting 60 climbers to scale Manaslu. He says that the number of climbers is expected to increase as the climbing window will be open for about a month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government had marked the diamond jubilee (60 years) of the first ascent of Mt Manaslu six years ago. The mountain received good publicity across the world after a 21-member expedition team of Bahrain’s Prince Sheikh Mohammad Hamam Al Khalifa scaled the peak two years ago. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15685', 'image' => '20220907091325_mount-manaslu.jpg', 'article_date' => '2022-09-07 09:12:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15942', 'article_category_id' => '1', 'title' => 'State-Owned Insurance Company Struggling to meet Paid-up Capital Requirement', 'sub_title' => '', 'summary' => 'September 6: Rastriya Beema Company, the one and only state-owned non-life insurance company of Nepal, is struggling to meet the paid-up capital limit fixed by the Insurance Board.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 6: Rastriya Beema Company, the one and only state-owned non-life insurance company of Nepal, is struggling to meet the paid-up capital limit fixed by the Insurance Board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the directive of the Insurance Board, non-life insurance companies need to raise their paid-up capital to Rs 2.5 billion by mid-April. Currently, the paid-up capital of the Rastriya Beema Company is Rs 266.63 million. The company is in need of an additional Rs 2.23 billion to meet the requirement of the Insurance Board, the regulatory body of the insurance sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Beema Company split from its parent company Rastriya Beema Sansthan, the state-owned life insurance company, on August 3, 2014 and started providing non-life insurance service. The company has not been able to distribute cash dividend due to its failure to approve the audit report of last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other non-life insurance companies have already prepared plans to meet the paid-up capital requirement set by the Insurance Board but this company is yet to take any decision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Insurance Board has approved the audit report of this company till 2015/16 on condition that it cannot distribute cash dividend. Spokesperson of the Insurance Board Raju Raman Poudel says that the company can distribute cash dividend only after the audit report up to last fiscal year gets approved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The company cannot get off the hook just because it is a state-owned company,” said Poudel, adding, “It must maintain the paid-up capital fixed by the board just like other companies.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel informed New Business Age that the company will face action if it fails to maintain the paid-up capital set by the board within the given timeframe. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“How can we tell other companies to meet the paid-up capital requirement if the state-owned company disobeys the directive?” questioned Poudel. He said that the government must be serious towards this issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company’s Acting CEO Subash Koirala says that they are ready to follow the instructions of the Insurance Board. However, he said that he cannot say anything about increasing the capital at the moment because they are awaiting the response from Finance Ministry which owns the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the company has sought the view of the Finance Ministry in this regard but has not got any response from the ministry.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-06', 'modified' => '2022-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '15684', 'image' => '20220906045047_rbl.jpg', 'article_date' => '2022-09-06 16:50:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15958', 'article_category_id' => '1', 'title' => 'Tourist Guides taking Tourists inside Bouddhanath Stupa without Ticket to Face Action ', 'sub_title' => '', 'summary' => 'September 8: Authorities have warned of action against tourist guides and hotel entrepreneurs involved in taking tourists inside the premises of Bouddhanath Stupa, a UNESCO World Heritage Site, without tickets. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: Authorities have warned of action against tourist guides and hotel entrepreneurs involved in taking tourists inside the premises of Bouddhanath Stupa, a UNESCO World Heritage Site, without tickets. The Bouddhanath Area Development Committee has issued such warning after tourist guides and hotel entrepreneurs were found to have facilitated the entry of tourist inside the world heritage site without tickets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Director of the Committee, Nayan Kumar Lama, told RSS that list of the hotels located from Chuchchepati to Jorpati is being prepared in the first phase for action. Ticket counter of the committee remains open from 10:00 am to 5:00 pm but the tourism entrepreneurs have been colluding with concerned parties to evade the ticket counter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the committee, tourists are found staying at hotels in the night and visiting Bouddhanath area in the morning without ticket. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Tourists are found entering the Bouddhanath Stupa premises without ticket in collusion with hotel entrepreneurs, tourist guides and staff deputed at the ticket counter,” the committee said in a statement. The committee held discussion with hotel entrepreneurs in this regard in the first phase and is planning to take action. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee has determined the entry fee for tourists from SAARC countries at Rs 100 per person and Rs 400 per person for visitors from other countries except SAARC nations. Thousands of tourists visit Bouddhanath area every month. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15699', 'image' => '20220908050223_bouddhanath.jpg', 'article_date' => '2022-09-08 17:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15957', 'article_category_id' => '1', 'title' => 'Civil Servants do not Perform their Duties: PM Deuba', 'sub_title' => '', 'summary' => 'September 8: Prime Minister Sher Bahadur Deuba has expressed dissatisfaction over the working style of the civil servants.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 8: Prime Minister Sher Bahadur Deuba has expressed dissatisfaction over the working style of the civil servants. While addressing a programme held on Wednesday on the occasion of the Civil Service Day, he said that not only politicians but also civil servants are equally responsible of the deteriorating situation of the country.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deuba said that the situation has become so dire that foreign help is necessary even for paying the salaries of the employees.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> “There is no money, how long are we going to seek funds from abroad?” Deuba questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that it is necessary to find out what caused the country's downfall. PM Deuba pointed out the need for a comprehensive discussion on why the country could not develop. He said that there is no progress because the employees do not want to go to remote areas. He complained that the country is lagging behind even when there are local, state and central governments.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The PM also questioned who is responsible for the country's downfall. He questioned, “Is it only the political parties or the bureaucracy as well? Why are the works not being done? Let's have a broad discussion. We are here for 5 years. But you will be here until you retire. None of the work is accomplished. The country is in turmoil. The employees go to the office, sign attendance and return back. They don't even stay at the office,” said Deuba.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that if the government employees do not cooperate, nothing can be achieved through policies and political parties alone. “The country cannot move forward unless there is support (from the employees). If the permanent government does not work, how can the country move forward?” Deuba questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also said that no country can move forward without the help of bureaucracy. “Bureaucracy is the first means of serving the people. If it doesn't work, how will the country be built?” Dexpressed his dissatisfaction, adding, “There are no doctors in the hospitals. There are no engineers. The CDO sometimes goes to the office but returns back almost immediately.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">At the programme, PM Deuba also instructed the employees to work responsibly in all places. He also made it clear that the government is ready to provide necessary facilities to the employees to work for the development of the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15698', 'image' => '20220908043822_deubaji.jpg', 'article_date' => '2022-09-08 16:36:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15956', 'article_category_id' => '1', 'title' => 'New Business Age organizing Green Ride Cycle Rally on Sept 24', 'sub_title' => '', 'summary' => 'September 8: New Business Age Pvt Ltd is organizing Green Ride Cycle Rally targeting corporate houses.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 8: New Business Age Pvt Ltd is organizing Green Ride Cycle Rally targeting corporate houses.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This event is being organized with the slogan 'When going gets tough, the tough get cycling'. The 20-kilometer cycle rally will be held on Saturday, September 24.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The cycle rally will start from Thapathali-based office of New Business Age and end after reaching Park Village Resort, Budhanilkantha. The rally will start at 7 am and the route has been fixed from Thapathali to Putlisadak, Durbarmarg, Sorhakhutte, Balaju Bypass, Tarakeshwar, Tokha, Chandeshwari, Dulal Tole and end at Park Village Resort, Budhanilkantha.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the organisers, the bicycle rally is being held in Kathmandu Valley to raise public awareness about carbon emission reduction and to encourage the use of green energy. Those who want to participate in the rally will have to pay a fee of Rs 1,500. For registration, interested candidates can fill up Google form available on the Facebook and Instagram pages of New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Individuals can rent bicycles by paying an additional fee. All the participants will be provided with jersey in addition to paramedic (ambulance with ventilator) service, emergency medical treatment and accident insurance up to Rs 100,000. Also, a water station will be placed every 5 kilometers. At the end of the rally, the participants will be given a certificate and lunch.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1317.html">panerai watch replica swiss</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1318.html">replica rolex daytona watch straps</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1319.html">buy rolex gmt master ii replica</a> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In recent times, lakes and ponds are drying up in some places due to the global climate change and temperature rise while extreme drought is observed in some places while other areas are witnessing excessive rainfall. Natural disasters such as floods and landslides are also reported frequently. Although Nepal's contribution to global carbon emissions is low, the emissions cannot be ignored. Nepal has set a goal of becoming a zero carbon emitter by 2045.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The form is available in the link below:</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">https://docs.google.com/forms/d/e/1FAIpQLSe-5CaZXPwfiY-BqlpVLU5TBTJLG52qKpZtr0eVSx6VpKTUEw/viewform</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-09', 'keywords' => '', 'description' => '', 'sortorder' => '15697', 'image' => '20220908032301_1662617812.new.jpg', 'article_date' => '2022-09-08 15:22:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15954', 'article_category_id' => '1', 'title' => 'Advance Ticket Booking for Dashain to Open from September 17', 'sub_title' => '', 'summary' => 'September 8: The government has decided to open advance ticket bookings for Dashain from September 17. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">September 8: The government has decided to open advance ticket bookings for Dashain from September 17. A meeting of the Department of Transport Management chaired by Director General Tokraj Pandey on Wednesday decided to open advance ticket bookings from Saturday, September 17, targeting the festive season.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Bijay Bahadur Swar, president of the Federation of Nepalese National Transport Entrepreneurs, informed that the meeting has directed transport entrepreneurs to arrange for online booking as far as possible and also to provide discounts to the passengers who book tickets online.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the meeting has decided to effectively monitor advance ticket booking and passenger vehicles leaving and entering the valley in collaboration between the department, traffic police, consumer forum, transport entrepreneurs and laborers. The meeting has also urged all stakeholders to adopt adequate health standards keeping in mind the Covid-19 pandemic. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">General Secretary of the federation Deknath Gautam informed that it has been decided to completely discourage the act of selling tickets from unauthorized counters and people who do not have an identity card.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The meeting has also decided to request the concerned bodies to repair the major roads and to facilitate the traffic operation. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In order to facilitate traffic movement, it has been decided to prohibit the operation of large vehicles, except the ones used for the transportation of essential items such as food grains, from Narayanghat to Kathmandu from October 1 to 8. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The meeting was attended by Director General Pandey, Chief of Kathmandu Valley Traffic Police Office, Deputy Inspector General of Police Meera Chaudhary, DoTM directors Radhakrishna Khatiwada and Ishwaridatta Paneru, FNNTE President Swar, Senior Vice President Saroj Sitaula and other stakeholders.</span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15695', 'image' => '20220908025647_Transport.jpg', 'article_date' => '2022-09-08 14:55:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15953', 'article_category_id' => '1', 'title' => 'Mustang Apples will be Available in the Market Soon', 'sub_title' => '', 'summary' => 'September 8: Apples produced in Mustang will be available in the market in the third week of September this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 8: Apples produced in Mustang will be available in the market in the third week of September this year. Stakeholders and apple farmers have reached an understanding to pick and sell apples in the district from September 10 onwards.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">By now, the apples have already ripened on the plant. Ripe and red apples can be seen along the road while going uphill from Kobang, Thasang rural municipality-2 of Mustang through the Beni-Jomsom road. Local residents say that tourists who come to visit Mustangs stop their cars and take selfies, make videos and buy the apples as souvenirs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the next few days, the farmers will get busy in picking the ripe apples and deliver them to the market. Farmers here are also excited after getting permission to pick apples five days earlier this year than last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Last year, permission was given to pick and sell apples from September 17. It is estimated that both the farmers and traders will benefit this time. Last year, both the farmers and traders had to bear losses due to the unavailability of markets for apples on time.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15694', 'image' => '20220908022220_apple.jpg', 'article_date' => '2022-09-08 14:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15952', 'article_category_id' => '1', 'title' => 'Government Revises Controversial Tax Rates', 'sub_title' => '', 'summary' => 'September 8: The government has revised the tax rates that courted controversy for favouring certain business establishments.', '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:"Nirmala UI","sans-serif"">September 8: The government has revised the tax rates that courted controversy for favouring certain business establishments.</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:"Nirmala UI","sans-serif"">The controversial tax provisions included in the budget for the current fiscal year has been amended by a cabinet meeting on Wednesday upon the recommendation of Finance Minister Janardan Sharma.</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:"Nirmala UI","sans-serif"">Finance Minister Sharma was forced to resign from his post after he was accused of changing the tax rates by inviting unauthorized persons inside the ministry on the eve of the budget announcement. Around half a dozen Galvanized Iron (GI) wire industries of Biratnagar were forced to shut down due to the change in tax rates. Industrialists of eastern Nepal has resorted to protest against the unfair tax rates imposed by the government.</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:"Nirmala UI","sans-serif"">The Council of Ministers has revised the tax rates of sanitary pads, GI wire and cooking oil.</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:"Nirmala UI","sans-serif"">According to informed sources, the cabinet meeting has revoked the decision to increase the tax imposed on raw materials required for producing GI wire and fixed the old rate.</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:"Nirmala UI","sans-serif"">The importers will have to pay only 5 percent customs duty to bring the raw materials required for GI wire industry. However, the government has not changed the excise duty imposed on this material.</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:"Nirmala UI","sans-serif"">The government has also decided to lower the customs duty on raw materials required for producing sanitary pads within 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:"Nirmala UI","sans-serif"">The government had announced in the budget for the current fiscal year to waive 90 percent tax for the import of ready-made sanitary pads. This put the domestic industries that produce sanitary pads in trouble because the cost of production would be higher than the imported pads.</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:"Nirmala UI","sans-serif"">The government had made arrangements for biscuit and noodle industries to import readymade edible oil by paying just 5 percent taxes while the cooking oil manufacturing companies had to pay 10 percent taxes for importing raw materials required for producing oil. Now, the government has lowered the taxes on raw materials to 5 percent.</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:"Nirmala UI","sans-serif"">Meanwhile, the government has not changed the customs duty imposed for the import of electric vehicles despite adopting a policy to promote clean energy.</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"">Sharma, who courted controversy for changing the tax rates in favour of certain business houses, was reinstated to his post after the parliamentary probe committee gave him a clean chit into the allegation. </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"">Soon after his reinstatement, Sharma had formed a committee to study the issue of the controversial tax rates. The committee was headed by Revenue Secretary Rameshwar Dangal. Other members of the committee included Director General of the Inland Revenue Department Ritesh Shakya, Revenue Division’s Chief Bhupal Baral ad Director General of the Department of Customs Kamal Bhattarai.</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"">Minister Sharman urged the cabinet to change the tax rates as per the recommendation of the committee.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15693', 'image' => '20220908125429_1662590300.Clipboard13.jpg', 'article_date' => '2022-09-08 12:53:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15951', 'article_category_id' => '1', 'title' => 'Goods Brought for Dashain Stopped in Tibet ', 'sub_title' => '', 'summary' => 'September 8: The goods that are being imported to Nepal for the Dashain festival have been stopped across the northern border due to lockdown in Tibet autonomous region of China. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: The goods that are being imported to Nepal for the Dashain festival have been stopped across the northern border due to lockdown in Tibet autonomous region of China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Containers loaded with clothes, electronic devices, fruits and other items are not allowed to enter Nepal on the pretext of controlling the Covid-19 infection. The Nepal-bound fruits have started decaying, said Chairperson of Sindhupalchowk Chamber of Commerce and Industry, Raj Kumar Basnet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The apples loaded in some 50 containers are getting decayed,” said Basnet. Most of the apples imported to Nepal are from 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"">The Chinese government has ordered to stop the goods-carrying vehicles entering Lhasa from mainland China for the time being reasoning that there is still lockdown in Tibet after the spread of coronavirus infection. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair Banset shared that more than 200 containers have been stopped at Keyrong and around 100 containers at Khasa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Tatopani Dry Port Customs Office, Narad Gautam, confirmed that the import of goods has been halted. He added that the lockdown imposed in different cities of Tibet since August 8 due to coronavirus infection is still in place. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subas Timilsina, a Nepali businessperson, complained that Nepali importers bringing different goods from China have been facing problems due to the lockdown imposed in Tibet. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15692', 'image' => '20220908110826_Rasuwagadhi border point.jpg', 'article_date' => '2022-09-08 11:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15950', 'article_category_id' => '1', 'title' => 'Stakeholders Demand Feasibility Study for Establishing New Industrial Estate in Bara-Parsa Corridor', 'sub_title' => '', 'summary' => 'September 7: Stakeholders have demanded a feasibility study for establishing a new industrial estate in Bara-Parsa Industrial Corridor due to the difficulty in acquiring land in the existing industrial area. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Stakeholders have demanded a feasibility study for establishing a new industrial estate in Bara-Parsa Industrial Corridor due to the difficulty in acquiring land in the existing industrial area. Birgunj Chamber of Commerce has requested the Industrial District Management Limited to conduct a feasibility study to set up a new industrial estate in the region.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon the request from industrialists, the Ministry of Industry, Commerce and Supplies has already started the process to establish a new industrial estate in this region. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the Industrial District Management Limited has urged the chamber to help them in conducting the feasibility study. Vice President of Birgunj Chamber of Commerce Hari Gautam informed that they are ready to cooperate with the Industrial District Management Limited to conduct the feasibility study. Gautam said that the chamber has requested the Industrial District Management Limited to carry out the feasibility study as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Gautam, preparations are underway to conduct a feasibility study on establishing a new industrial estate in 650 bighas (47,385,000 square feet) of land in the name of a Guthi (trust) in ward number 31 of Birgunj Municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The task force to conduct the study will include representatives from the Guthi corporation, Birgunj Municipality, Land Revenue Office, Land Management Office and the Land Survey Office.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction of the industrial estate will start after the task force submits its report to the government and the Council of Ministers approves it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Industry, Commerce and Supplies had instructed the concerned authorities on April 28 to conduct a detailed study for setting up an industrial estate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The local industrialists of Bara-Parsa Industrial Corridor have been demanding a new industrial estate due to the rising prices of land in the area as well as conflict with the locals and problems related to sewerage management. Birgunj is the biggest industrial area of the country. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15691', 'image' => '20220907062642_Industries.jpg', 'article_date' => '2022-09-07 18:25:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15949', 'article_category_id' => '1', 'title' => 'UML Lawmaker Against the Idea of a New Stock Exchange Company', 'sub_title' => '', 'summary' => 'September 7: Members of Parliament on Tuesday drew the government’s attention to contemporary political and national issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 7: Members of Parliament on Tuesday drew the government’s attention to contemporary political and national issues. During the House of Representatives meeting on Tuesday, UML MP Krishna Prasad Dahal raised the issue of a new stock exchange company. Speaking at the zero hour of the meeting, he said that another stock exchange company was not necessary. He opined that Nepal Stock Exchange, which is currently in operation, should be made capable and strong, rather than introducing new stock exchange companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He stressed on modernizing the Nepal Stock Exchange (NEPSE) in order to make it effective and strong. He said that Nepal's capital market is not in a position to support a new stock exchange company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dahal also said that the government is about to issue license to a new stock exchange company in an unauthorized manner. He accused the government of taking a wrong decision saying that such a new organization was not necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal recently amended the 'Securities Market Operation Regulations, 2064' to allow the private sector to issue stock exchange licenses. In the regulations, the board increased the paid-up capital of stock exchange companies to a minimum of Rs 3 billion. Currently, the paid up capital of the stock exchange company is Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, NEPSE’s Manager Niranjan Phuyal insists that a new stock exchange company is necessary. He argues that the state-owned NEPSE is not able to perform well. According to Phuyal, if NEPSE faces any technical problem it will take nine months to purchase new technology as they have to go through public procurement process. Therefore, Phuyal says there is a need of another stock exchange company to make the stock market competitive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15690', 'image' => '20220907055411_share.jpg', 'article_date' => '2022-09-07 17:53:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15948', 'article_category_id' => '1', 'title' => 'New Airports to Generate Profit after a Decade', 'sub_title' => '', 'summary' => 'September 7: It is estimated that the two new international airports of Nepal, which are ready for operation, will take 10 to 15 years to generate profit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 7: It is estimated that the two new international airports of Nepal, which are ready for operation, will take 10 to 15 years to generate profit. The Civil Aviation Authority of Nepal says that the airports, which are ready after almost seven decades, will take time to make profit.</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"">Bhairahawa-based Gautam Buddha International Airport is the second international airport of Nepal after the Tribhuvan International Airport while the Pokhara Regional International Airport will come into operation from January 1, 2023.</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"">CAAN Spokesperson Jagannath Niraula said that the construction of the airports was delayed due to the Covid-19 pandemic.</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"">Niraula says that Pokhara Regional International Airport will earn profit after 15 years while Gautam Buddha International Airport will generate profit after 10 years. </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"">Spokesperson Niraula said that 50 percent of the Chinese tourists visit Pokhara and Chinese airline companies have also shown interest to operate flights to the Pokhara Regional International Airport. </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 the CAAN, the number of air passengers is increasing every year by ten percent. Therefore, CAAN believes that more airline companies will operate flights to the new airports because the number of passengers is increasing every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15689', 'image' => '20220907042148_Pokhara-Airport-800X533.jpg', 'article_date' => '2022-09-07 16:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15947', 'article_category_id' => '1', 'title' => 'Insurance Companies Deposit Most of the Money in Fixed Deposits of Banks', 'sub_title' => 'Insurance Companies Fail to Diversify Investment', 'summary' => 'September 7: It has been found that most of the investments of insurance companies have been accumulated in fixed deposits of banks and financial institutions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 7: It has been found that most of the investments of insurance companies have been accumulated in fixed deposits of banks and financial institutions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The insurance companies have deposited the amount collected as insurance fee in fixed deposit accounts after failing to diversify their investment as per the guidelines of the Investment Board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Insurance Board, by the end of the fiscal year 2021/22, 19 life insurance companies and 20 non-life insurance companies invested a total of Rs 527.8 billion. Among these investments, 408 billion has invested in fixed deposits of banks and financial institutions. This is 77.48 percent of the total investment of insurance companies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Among the fixed deposits, the highest investment is in commercial banks, which accounts for 67.24 percent of the total investment followed by development banks (9.09 percent) and finance companies (1.10 percent).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Insurance Board had changed the investment guidelines three years ago and allowed to diversify investment as per the suggestion of the insurance companies. However, they are still unable to invest. As a result, they focused on fixed deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The guidelines issued by the board in March 2019 has opened way to invest in infrastructure and productive sectors such as real estate business, water resources, agriculture, tourism, in addition to fixed deposits and shares. However, insurance companies do not seem to be attracted to other areas except fixed deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the guidelines, companies should invest a minimum of 40 percent of their total technical reserve in fixed deposits of commercial and infrastructure banks and a minimum of 5 percent in government bonds. Similarly, a maximum of 20 percent can be invested in development banks and a maximum of 10 percent in finance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, they can invest up to 5 percent in real estate business, up to 10 percent in ordinary shares of listed companies, up to 20 percent in preference shares, up to 20 percent in shares of listed companies, up to 20 percent in infrastructure including agriculture, tourism and water resources, and up to 5 percent in Citizens Investment Trust and mutual funds.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The insurance companies are not yet able to diversify their investments according to the guidelines. Most of their investments are concentrated in fixed deposits of banks and financial institutions followed by bonds and stock markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Following the guidelines, a minimum of 40 percent should be invested in the fixed deposits of Nepal Infrastructure Bank, but the companies have invested only 0.05 percent. Five life insurance companies namely Life Insurance Company, Surya Life Insurance Company, Prime Life Insurance Company, Jyoti Life Insurance Company and Sun Nepal Life Insurance Company have invested Rs 250 million in this bank, which includes Rs 50 million each. Non-life insurance companies are yet to invest in infrastructure banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chairman of the Insurance Board, Surya Prasad Silwal said that insurance companies failed to invest according to the guidelines. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“According to the demand of the companies, we diversified the areas of investment by changing the guidelines. But they do not want to take the investment risk,” said Silwal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Silwal added that the capital accumulated in the insurance companies should contribute to the development of the country and they need to be forced to invest in the productive sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A year ago, the board also issued instructions to invest according to the guidelines, saying that the insurance companies did not invest in the infrastructure development sector. Despite the instructions, the companies invested only 1.41 percent or Rs 7.45 billion in the infrastructure sector. The board informed that out of this amount, the investment of life insurance companies amounted to Rs 7.14 billion and the investment of non-life insurance companies was more than Rs 300 million. The directive allows insurance companies to invest in the real estate sector as well. However, the companies are reluctant to invest in this sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15688', 'image' => '20220907110038_Insurance.jpg', 'article_date' => '2022-09-07 10:59:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15946', 'article_category_id' => '1', 'title' => 'Nepal’s Public Debt Increases by Rs 300 Billion in a Year', 'sub_title' => '', 'summary' => 'September 7: The external sector of the economy is under pressure due to the devaluation of Nepalese currency. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The external sector of the economy is under pressure due to the devaluation of Nepalese currency. As Nepal has to pay the loans and interest taken from different countries and donor agencies in US dollars or other convertible currencies, the external sector is under pressure due to the rising price of US dollar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been taking loans in US dollar, euro, Chinese yuan, Japanese yen, and British pound. The country needs to pay the interest on such loans in foreign currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late, the Nepalese currency is being devalued against the US dollar and other foreign currencies resulting in pressure to the external sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under Secretary at the Public Debt Management Office, Dinesh Regmi, admits that the country’s external sector is under pressure to manage foreign debt due to the devaluation of Nepalese currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The foreign loans have to be paid in terms of US dollars or other foreign currency. Since the value of US dollar is increasing, the amount of loan to be repaid by the country is also increasing,” said Regmi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The foreign exchange rate is causing problems for us a lot,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has to bear an additional cost of Rs 22.7 billion while repaying foreign debt every three months due to the volatile foreign exchange rate. According to the office, Nepal paid a total of Rs 117.42 billion as loan and interest during the last fiscal year. During the review year, Nepal repaid loans of Rs 72.8 billion and interest of Rs 44.61.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal had to pay a fine of Rs 41 million during the last fiscal year, the Public Debt Management Office informed. According to the office, the fine was imposed due to the delay in payment of the interest and loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Nepal’s public debt has been increasing in recent years. As per the latest data released by the Public Debt Management Office, the total public debt of Nepal is more than Rs 2011 billion. Out of this amount, Nepal’s foreign debt is Rs 1025 billion while internal debt is Rs 900.86 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The public debt of Nepal increased by around Rs 300 billion by the end of last fiscal year (FY 2021/22) as compared to the previous fiscal year (FY 2020/21). Nepal’s public debt was Rs 1737 by the end of Fiscal Year 2020/21.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15687', 'image' => '20220907103815_public debt.jpg', 'article_date' => '2022-09-07 10:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15945', 'article_category_id' => '1', 'title' => 'Infrastructure Summit to Kick off on Thursday', 'sub_title' => '', 'summary' => 'September 7: The fourth edition of Nepal Infrastructure Summit is all set to kick off in Kathmandu from Thursday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The fourth edition of Nepal Infrastructure Summit is all set to kick off in Kathmandu from Thursday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The two-day event is being organized by the Confederation of Nepalese Industries in collaboration with the Ministry of Physical Infrastructure and Transport. The CNI has been organizing this event since 2014. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The organisers informed that the stakeholders will discuss issues ranging from transportation to energy, urban development, drinking water and sanitation, climate change, infrastructure projects among other topics during the summit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The theme of this year’s summit is ‘Infrastructure for Development’.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The organisers expect investment commitment for green infrastructure and economic revival during the summit. The summit is also expected to stress on policy intervention for innovative financial framework, foreign direct investment, participation of private sector and digital transformation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Experts from the country and abroad as well as representatives of all three tiers of government and the private sector will hold indepth discussion on investment for infrastructure, successful practices of infrastructure development across the world and obstacles in achieving infrastructure development,” reads a statement issued by CNI.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, different sessions of the summit will be attended by former prime ministers, incumbent ministers in the federal government, chief ministers of provinces, mayors, members of National Planning Commission, professors and representatives from Nepal Rastra Bank, World Bank, Asian Development Bank. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Investment Board Nepal and Youth Community for Nepalese Contractors are the co-sponsors of the event. According to the CNI, the event will be held on September 8 and 9.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The summit is expected to draw over 500 participants including representatives of the Government of Nepal, private sector, foreign dignitaries, think tanks and investors.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15686', 'image' => '20220907100040_infra.jpg', 'article_date' => '2022-09-07 10:00:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15944', 'article_category_id' => '1', 'title' => 'Majority of Climbers Acquire Permits to Scale Mt Manaslu during this Autumn', 'sub_title' => '', 'summary' => 'September 7: Mountaineers are growingly attracted towards climbing Mt Manaslu (8,163m), the eighth highest peak in the world. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Mountaineers are growingly attracted towards climbing Mt Manaslu (8,163m), the eighth highest peak in the world. The number of climbers seeking permission to climb Mt Manaslu during this autumn season is highest among all other mountain peaks, reports the state-owned national news agency RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Tourism, a total of 237 climbers of 25 expedition teams have been granted permission to scale different peaks in Nepal including Mt Everest. Most of them will be climbing Mt Manaslu. The department informed RSS that altogether 214 climbers of 19 expedition teams will be climbing Mt Manaslu this season. Among them, 160 are female and 50 are male climbers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manaslu has become the preferred choice among the climbers as the autumn season is considered ideal for climbing the mountain peak. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung says that the number of climbers aspiring to scale Mt Manaslu is encouraging this year just like in the past years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Managing Director of Seven Summit Treks Pvt Ltd Mingma Sherpa confirmed that lots of tourists are acquiring permits to climb Mt Manaslu this year. According to Sherpa, his company will be assisting 60 climbers to scale Manaslu. He says that the number of climbers is expected to increase as the climbing window will be open for about a month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government had marked the diamond jubilee (60 years) of the first ascent of Mt Manaslu six years ago. The mountain received good publicity across the world after a 21-member expedition team of Bahrain’s Prince Sheikh Mohammad Hamam Al Khalifa scaled the peak two years ago. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15685', 'image' => '20220907091325_mount-manaslu.jpg', 'article_date' => '2022-09-07 09:12:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15942', 'article_category_id' => '1', 'title' => 'State-Owned Insurance Company Struggling to meet Paid-up Capital Requirement', 'sub_title' => '', 'summary' => 'September 6: Rastriya Beema Company, the one and only state-owned non-life insurance company of Nepal, is struggling to meet the paid-up capital limit fixed by the Insurance Board.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 6: Rastriya Beema Company, the one and only state-owned non-life insurance company of Nepal, is struggling to meet the paid-up capital limit fixed by the Insurance Board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the directive of the Insurance Board, non-life insurance companies need to raise their paid-up capital to Rs 2.5 billion by mid-April. Currently, the paid-up capital of the Rastriya Beema Company is Rs 266.63 million. The company is in need of an additional Rs 2.23 billion to meet the requirement of the Insurance Board, the regulatory body of the insurance sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Beema Company split from its parent company Rastriya Beema Sansthan, the state-owned life insurance company, on August 3, 2014 and started providing non-life insurance service. The company has not been able to distribute cash dividend due to its failure to approve the audit report of last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other non-life insurance companies have already prepared plans to meet the paid-up capital requirement set by the Insurance Board but this company is yet to take any decision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Insurance Board has approved the audit report of this company till 2015/16 on condition that it cannot distribute cash dividend. Spokesperson of the Insurance Board Raju Raman Poudel says that the company can distribute cash dividend only after the audit report up to last fiscal year gets approved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The company cannot get off the hook just because it is a state-owned company,” said Poudel, adding, “It must maintain the paid-up capital fixed by the board just like other companies.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel informed New Business Age that the company will face action if it fails to maintain the paid-up capital set by the board within the given timeframe. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“How can we tell other companies to meet the paid-up capital requirement if the state-owned company disobeys the directive?” questioned Poudel. He said that the government must be serious towards this issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company’s Acting CEO Subash Koirala says that they are ready to follow the instructions of the Insurance Board. However, he said that he cannot say anything about increasing the capital at the moment because they are awaiting the response from Finance Ministry which owns the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the company has sought the view of the Finance Ministry in this regard but has not got any response from the ministry.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-06', 'modified' => '2022-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '15684', 'image' => '20220906045047_rbl.jpg', 'article_date' => '2022-09-06 16:50:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15958', 'article_category_id' => '1', 'title' => 'Tourist Guides taking Tourists inside Bouddhanath Stupa without Ticket to Face Action ', 'sub_title' => '', 'summary' => 'September 8: Authorities have warned of action against tourist guides and hotel entrepreneurs involved in taking tourists inside the premises of Bouddhanath Stupa, a UNESCO World Heritage Site, without tickets. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: Authorities have warned of action against tourist guides and hotel entrepreneurs involved in taking tourists inside the premises of Bouddhanath Stupa, a UNESCO World Heritage Site, without tickets. The Bouddhanath Area Development Committee has issued such warning after tourist guides and hotel entrepreneurs were found to have facilitated the entry of tourist inside the world heritage site without tickets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Director of the Committee, Nayan Kumar Lama, told RSS that list of the hotels located from Chuchchepati to Jorpati is being prepared in the first phase for action. Ticket counter of the committee remains open from 10:00 am to 5:00 pm but the tourism entrepreneurs have been colluding with concerned parties to evade the ticket counter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the committee, tourists are found staying at hotels in the night and visiting Bouddhanath area in the morning without ticket. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Tourists are found entering the Bouddhanath Stupa premises without ticket in collusion with hotel entrepreneurs, tourist guides and staff deputed at the ticket counter,” the committee said in a statement. The committee held discussion with hotel entrepreneurs in this regard in the first phase and is planning to take action. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee has determined the entry fee for tourists from SAARC countries at Rs 100 per person and Rs 400 per person for visitors from other countries except SAARC nations. Thousands of tourists visit Bouddhanath area every month. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15699', 'image' => '20220908050223_bouddhanath.jpg', 'article_date' => '2022-09-08 17:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15957', 'article_category_id' => '1', 'title' => 'Civil Servants do not Perform their Duties: PM Deuba', 'sub_title' => '', 'summary' => 'September 8: Prime Minister Sher Bahadur Deuba has expressed dissatisfaction over the working style of the civil servants.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 8: Prime Minister Sher Bahadur Deuba has expressed dissatisfaction over the working style of the civil servants. While addressing a programme held on Wednesday on the occasion of the Civil Service Day, he said that not only politicians but also civil servants are equally responsible of the deteriorating situation of the country.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deuba said that the situation has become so dire that foreign help is necessary even for paying the salaries of the employees.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> “There is no money, how long are we going to seek funds from abroad?” Deuba questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that it is necessary to find out what caused the country's downfall. PM Deuba pointed out the need for a comprehensive discussion on why the country could not develop. He said that there is no progress because the employees do not want to go to remote areas. He complained that the country is lagging behind even when there are local, state and central governments.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The PM also questioned who is responsible for the country's downfall. He questioned, “Is it only the political parties or the bureaucracy as well? Why are the works not being done? Let's have a broad discussion. We are here for 5 years. But you will be here until you retire. None of the work is accomplished. The country is in turmoil. The employees go to the office, sign attendance and return back. They don't even stay at the office,” said Deuba.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that if the government employees do not cooperate, nothing can be achieved through policies and political parties alone. “The country cannot move forward unless there is support (from the employees). If the permanent government does not work, how can the country move forward?” Deuba questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also said that no country can move forward without the help of bureaucracy. “Bureaucracy is the first means of serving the people. If it doesn't work, how will the country be built?” Dexpressed his dissatisfaction, adding, “There are no doctors in the hospitals. There are no engineers. The CDO sometimes goes to the office but returns back almost immediately.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">At the programme, PM Deuba also instructed the employees to work responsibly in all places. He also made it clear that the government is ready to provide necessary facilities to the employees to work for the development of the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15698', 'image' => '20220908043822_deubaji.jpg', 'article_date' => '2022-09-08 16:36:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15956', 'article_category_id' => '1', 'title' => 'New Business Age organizing Green Ride Cycle Rally on Sept 24', 'sub_title' => '', 'summary' => 'September 8: New Business Age Pvt Ltd is organizing Green Ride Cycle Rally targeting corporate houses.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 8: New Business Age Pvt Ltd is organizing Green Ride Cycle Rally targeting corporate houses.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This event is being organized with the slogan 'When going gets tough, the tough get cycling'. The 20-kilometer cycle rally will be held on Saturday, September 24.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The cycle rally will start from Thapathali-based office of New Business Age and end after reaching Park Village Resort, Budhanilkantha. The rally will start at 7 am and the route has been fixed from Thapathali to Putlisadak, Durbarmarg, Sorhakhutte, Balaju Bypass, Tarakeshwar, Tokha, Chandeshwari, Dulal Tole and end at Park Village Resort, Budhanilkantha.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the organisers, the bicycle rally is being held in Kathmandu Valley to raise public awareness about carbon emission reduction and to encourage the use of green energy. Those who want to participate in the rally will have to pay a fee of Rs 1,500. For registration, interested candidates can fill up Google form available on the Facebook and Instagram pages of New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Individuals can rent bicycles by paying an additional fee. All the participants will be provided with jersey in addition to paramedic (ambulance with ventilator) service, emergency medical treatment and accident insurance up to Rs 100,000. Also, a water station will be placed every 5 kilometers. At the end of the rally, the participants will be given a certificate and lunch.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1317.html">panerai watch replica swiss</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1318.html">replica rolex daytona watch straps</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1319.html">buy rolex gmt master ii replica</a> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In recent times, lakes and ponds are drying up in some places due to the global climate change and temperature rise while extreme drought is observed in some places while other areas are witnessing excessive rainfall. Natural disasters such as floods and landslides are also reported frequently. Although Nepal's contribution to global carbon emissions is low, the emissions cannot be ignored. Nepal has set a goal of becoming a zero carbon emitter by 2045.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The form is available in the link below:</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">https://docs.google.com/forms/d/e/1FAIpQLSe-5CaZXPwfiY-BqlpVLU5TBTJLG52qKpZtr0eVSx6VpKTUEw/viewform</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-09', 'keywords' => '', 'description' => '', 'sortorder' => '15697', 'image' => '20220908032301_1662617812.new.jpg', 'article_date' => '2022-09-08 15:22:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15954', 'article_category_id' => '1', 'title' => 'Advance Ticket Booking for Dashain to Open from September 17', 'sub_title' => '', 'summary' => 'September 8: The government has decided to open advance ticket bookings for Dashain from September 17. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">September 8: The government has decided to open advance ticket bookings for Dashain from September 17. A meeting of the Department of Transport Management chaired by Director General Tokraj Pandey on Wednesday decided to open advance ticket bookings from Saturday, September 17, targeting the festive season.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Bijay Bahadur Swar, president of the Federation of Nepalese National Transport Entrepreneurs, informed that the meeting has directed transport entrepreneurs to arrange for online booking as far as possible and also to provide discounts to the passengers who book tickets online.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the meeting has decided to effectively monitor advance ticket booking and passenger vehicles leaving and entering the valley in collaboration between the department, traffic police, consumer forum, transport entrepreneurs and laborers. The meeting has also urged all stakeholders to adopt adequate health standards keeping in mind the Covid-19 pandemic. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">General Secretary of the federation Deknath Gautam informed that it has been decided to completely discourage the act of selling tickets from unauthorized counters and people who do not have an identity card.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The meeting has also decided to request the concerned bodies to repair the major roads and to facilitate the traffic operation. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In order to facilitate traffic movement, it has been decided to prohibit the operation of large vehicles, except the ones used for the transportation of essential items such as food grains, from Narayanghat to Kathmandu from October 1 to 8. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The meeting was attended by Director General Pandey, Chief of Kathmandu Valley Traffic Police Office, Deputy Inspector General of Police Meera Chaudhary, DoTM directors Radhakrishna Khatiwada and Ishwaridatta Paneru, FNNTE President Swar, Senior Vice President Saroj Sitaula and other stakeholders.</span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15695', 'image' => '20220908025647_Transport.jpg', 'article_date' => '2022-09-08 14:55:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15953', 'article_category_id' => '1', 'title' => 'Mustang Apples will be Available in the Market Soon', 'sub_title' => '', 'summary' => 'September 8: Apples produced in Mustang will be available in the market in the third week of September this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 8: Apples produced in Mustang will be available in the market in the third week of September this year. Stakeholders and apple farmers have reached an understanding to pick and sell apples in the district from September 10 onwards.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">By now, the apples have already ripened on the plant. Ripe and red apples can be seen along the road while going uphill from Kobang, Thasang rural municipality-2 of Mustang through the Beni-Jomsom road. Local residents say that tourists who come to visit Mustangs stop their cars and take selfies, make videos and buy the apples as souvenirs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the next few days, the farmers will get busy in picking the ripe apples and deliver them to the market. Farmers here are also excited after getting permission to pick apples five days earlier this year than last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Last year, permission was given to pick and sell apples from September 17. It is estimated that both the farmers and traders will benefit this time. Last year, both the farmers and traders had to bear losses due to the unavailability of markets for apples on time.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15694', 'image' => '20220908022220_apple.jpg', 'article_date' => '2022-09-08 14:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15952', 'article_category_id' => '1', 'title' => 'Government Revises Controversial Tax Rates', 'sub_title' => '', 'summary' => 'September 8: The government has revised the tax rates that courted controversy for favouring certain business establishments.', '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:"Nirmala UI","sans-serif"">September 8: The government has revised the tax rates that courted controversy for favouring certain business establishments.</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:"Nirmala UI","sans-serif"">The controversial tax provisions included in the budget for the current fiscal year has been amended by a cabinet meeting on Wednesday upon the recommendation of Finance Minister Janardan Sharma.</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:"Nirmala UI","sans-serif"">Finance Minister Sharma was forced to resign from his post after he was accused of changing the tax rates by inviting unauthorized persons inside the ministry on the eve of the budget announcement. Around half a dozen Galvanized Iron (GI) wire industries of Biratnagar were forced to shut down due to the change in tax rates. Industrialists of eastern Nepal has resorted to protest against the unfair tax rates imposed by the government.</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:"Nirmala UI","sans-serif"">The Council of Ministers has revised the tax rates of sanitary pads, GI wire and cooking oil.</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:"Nirmala UI","sans-serif"">According to informed sources, the cabinet meeting has revoked the decision to increase the tax imposed on raw materials required for producing GI wire and fixed the old rate.</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:"Nirmala UI","sans-serif"">The importers will have to pay only 5 percent customs duty to bring the raw materials required for GI wire industry. However, the government has not changed the excise duty imposed on this material.</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:"Nirmala UI","sans-serif"">The government has also decided to lower the customs duty on raw materials required for producing sanitary pads within 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:"Nirmala UI","sans-serif"">The government had announced in the budget for the current fiscal year to waive 90 percent tax for the import of ready-made sanitary pads. This put the domestic industries that produce sanitary pads in trouble because the cost of production would be higher than the imported pads.</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:"Nirmala UI","sans-serif"">The government had made arrangements for biscuit and noodle industries to import readymade edible oil by paying just 5 percent taxes while the cooking oil manufacturing companies had to pay 10 percent taxes for importing raw materials required for producing oil. Now, the government has lowered the taxes on raw materials to 5 percent.</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:"Nirmala UI","sans-serif"">Meanwhile, the government has not changed the customs duty imposed for the import of electric vehicles despite adopting a policy to promote clean energy.</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"">Sharma, who courted controversy for changing the tax rates in favour of certain business houses, was reinstated to his post after the parliamentary probe committee gave him a clean chit into the allegation. </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"">Soon after his reinstatement, Sharma had formed a committee to study the issue of the controversial tax rates. The committee was headed by Revenue Secretary Rameshwar Dangal. Other members of the committee included Director General of the Inland Revenue Department Ritesh Shakya, Revenue Division’s Chief Bhupal Baral ad Director General of the Department of Customs Kamal Bhattarai.</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"">Minister Sharman urged the cabinet to change the tax rates as per the recommendation of the committee.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15693', 'image' => '20220908125429_1662590300.Clipboard13.jpg', 'article_date' => '2022-09-08 12:53:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15951', 'article_category_id' => '1', 'title' => 'Goods Brought for Dashain Stopped in Tibet ', 'sub_title' => '', 'summary' => 'September 8: The goods that are being imported to Nepal for the Dashain festival have been stopped across the northern border due to lockdown in Tibet autonomous region of China. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: The goods that are being imported to Nepal for the Dashain festival have been stopped across the northern border due to lockdown in Tibet autonomous region of China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Containers loaded with clothes, electronic devices, fruits and other items are not allowed to enter Nepal on the pretext of controlling the Covid-19 infection. The Nepal-bound fruits have started decaying, said Chairperson of Sindhupalchowk Chamber of Commerce and Industry, Raj Kumar Basnet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The apples loaded in some 50 containers are getting decayed,” said Basnet. Most of the apples imported to Nepal are from 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"">The Chinese government has ordered to stop the goods-carrying vehicles entering Lhasa from mainland China for the time being reasoning that there is still lockdown in Tibet after the spread of coronavirus infection. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair Banset shared that more than 200 containers have been stopped at Keyrong and around 100 containers at Khasa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Tatopani Dry Port Customs Office, Narad Gautam, confirmed that the import of goods has been halted. He added that the lockdown imposed in different cities of Tibet since August 8 due to coronavirus infection is still in place. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subas Timilsina, a Nepali businessperson, complained that Nepali importers bringing different goods from China have been facing problems due to the lockdown imposed in Tibet. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15692', 'image' => '20220908110826_Rasuwagadhi border point.jpg', 'article_date' => '2022-09-08 11:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15950', 'article_category_id' => '1', 'title' => 'Stakeholders Demand Feasibility Study for Establishing New Industrial Estate in Bara-Parsa Corridor', 'sub_title' => '', 'summary' => 'September 7: Stakeholders have demanded a feasibility study for establishing a new industrial estate in Bara-Parsa Industrial Corridor due to the difficulty in acquiring land in the existing industrial area. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Stakeholders have demanded a feasibility study for establishing a new industrial estate in Bara-Parsa Industrial Corridor due to the difficulty in acquiring land in the existing industrial area. Birgunj Chamber of Commerce has requested the Industrial District Management Limited to conduct a feasibility study to set up a new industrial estate in the region.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon the request from industrialists, the Ministry of Industry, Commerce and Supplies has already started the process to establish a new industrial estate in this region. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the Industrial District Management Limited has urged the chamber to help them in conducting the feasibility study. Vice President of Birgunj Chamber of Commerce Hari Gautam informed that they are ready to cooperate with the Industrial District Management Limited to conduct the feasibility study. Gautam said that the chamber has requested the Industrial District Management Limited to carry out the feasibility study as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Gautam, preparations are underway to conduct a feasibility study on establishing a new industrial estate in 650 bighas (47,385,000 square feet) of land in the name of a Guthi (trust) in ward number 31 of Birgunj Municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The task force to conduct the study will include representatives from the Guthi corporation, Birgunj Municipality, Land Revenue Office, Land Management Office and the Land Survey Office.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction of the industrial estate will start after the task force submits its report to the government and the Council of Ministers approves it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Industry, Commerce and Supplies had instructed the concerned authorities on April 28 to conduct a detailed study for setting up an industrial estate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The local industrialists of Bara-Parsa Industrial Corridor have been demanding a new industrial estate due to the rising prices of land in the area as well as conflict with the locals and problems related to sewerage management. Birgunj is the biggest industrial area of the country. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15691', 'image' => '20220907062642_Industries.jpg', 'article_date' => '2022-09-07 18:25:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15949', 'article_category_id' => '1', 'title' => 'UML Lawmaker Against the Idea of a New Stock Exchange Company', 'sub_title' => '', 'summary' => 'September 7: Members of Parliament on Tuesday drew the government’s attention to contemporary political and national issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 7: Members of Parliament on Tuesday drew the government’s attention to contemporary political and national issues. During the House of Representatives meeting on Tuesday, UML MP Krishna Prasad Dahal raised the issue of a new stock exchange company. Speaking at the zero hour of the meeting, he said that another stock exchange company was not necessary. He opined that Nepal Stock Exchange, which is currently in operation, should be made capable and strong, rather than introducing new stock exchange companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He stressed on modernizing the Nepal Stock Exchange (NEPSE) in order to make it effective and strong. He said that Nepal's capital market is not in a position to support a new stock exchange company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dahal also said that the government is about to issue license to a new stock exchange company in an unauthorized manner. He accused the government of taking a wrong decision saying that such a new organization was not necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal recently amended the 'Securities Market Operation Regulations, 2064' to allow the private sector to issue stock exchange licenses. In the regulations, the board increased the paid-up capital of stock exchange companies to a minimum of Rs 3 billion. Currently, the paid up capital of the stock exchange company is Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, NEPSE’s Manager Niranjan Phuyal insists that a new stock exchange company is necessary. He argues that the state-owned NEPSE is not able to perform well. According to Phuyal, if NEPSE faces any technical problem it will take nine months to purchase new technology as they have to go through public procurement process. Therefore, Phuyal says there is a need of another stock exchange company to make the stock market competitive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15690', 'image' => '20220907055411_share.jpg', 'article_date' => '2022-09-07 17:53:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15948', 'article_category_id' => '1', 'title' => 'New Airports to Generate Profit after a Decade', 'sub_title' => '', 'summary' => 'September 7: It is estimated that the two new international airports of Nepal, which are ready for operation, will take 10 to 15 years to generate profit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 7: It is estimated that the two new international airports of Nepal, which are ready for operation, will take 10 to 15 years to generate profit. The Civil Aviation Authority of Nepal says that the airports, which are ready after almost seven decades, will take time to make profit.</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"">Bhairahawa-based Gautam Buddha International Airport is the second international airport of Nepal after the Tribhuvan International Airport while the Pokhara Regional International Airport will come into operation from January 1, 2023.</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"">CAAN Spokesperson Jagannath Niraula said that the construction of the airports was delayed due to the Covid-19 pandemic.</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"">Niraula says that Pokhara Regional International Airport will earn profit after 15 years while Gautam Buddha International Airport will generate profit after 10 years. </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"">Spokesperson Niraula said that 50 percent of the Chinese tourists visit Pokhara and Chinese airline companies have also shown interest to operate flights to the Pokhara Regional International Airport. </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 the CAAN, the number of air passengers is increasing every year by ten percent. Therefore, CAAN believes that more airline companies will operate flights to the new airports because the number of passengers is increasing every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15689', 'image' => '20220907042148_Pokhara-Airport-800X533.jpg', 'article_date' => '2022-09-07 16:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15947', 'article_category_id' => '1', 'title' => 'Insurance Companies Deposit Most of the Money in Fixed Deposits of Banks', 'sub_title' => 'Insurance Companies Fail to Diversify Investment', 'summary' => 'September 7: It has been found that most of the investments of insurance companies have been accumulated in fixed deposits of banks and financial institutions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 7: It has been found that most of the investments of insurance companies have been accumulated in fixed deposits of banks and financial institutions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The insurance companies have deposited the amount collected as insurance fee in fixed deposit accounts after failing to diversify their investment as per the guidelines of the Investment Board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Insurance Board, by the end of the fiscal year 2021/22, 19 life insurance companies and 20 non-life insurance companies invested a total of Rs 527.8 billion. Among these investments, 408 billion has invested in fixed deposits of banks and financial institutions. This is 77.48 percent of the total investment of insurance companies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Among the fixed deposits, the highest investment is in commercial banks, which accounts for 67.24 percent of the total investment followed by development banks (9.09 percent) and finance companies (1.10 percent).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Insurance Board had changed the investment guidelines three years ago and allowed to diversify investment as per the suggestion of the insurance companies. However, they are still unable to invest. As a result, they focused on fixed deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The guidelines issued by the board in March 2019 has opened way to invest in infrastructure and productive sectors such as real estate business, water resources, agriculture, tourism, in addition to fixed deposits and shares. However, insurance companies do not seem to be attracted to other areas except fixed deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the guidelines, companies should invest a minimum of 40 percent of their total technical reserve in fixed deposits of commercial and infrastructure banks and a minimum of 5 percent in government bonds. Similarly, a maximum of 20 percent can be invested in development banks and a maximum of 10 percent in finance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, they can invest up to 5 percent in real estate business, up to 10 percent in ordinary shares of listed companies, up to 20 percent in preference shares, up to 20 percent in shares of listed companies, up to 20 percent in infrastructure including agriculture, tourism and water resources, and up to 5 percent in Citizens Investment Trust and mutual funds.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The insurance companies are not yet able to diversify their investments according to the guidelines. Most of their investments are concentrated in fixed deposits of banks and financial institutions followed by bonds and stock markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Following the guidelines, a minimum of 40 percent should be invested in the fixed deposits of Nepal Infrastructure Bank, but the companies have invested only 0.05 percent. Five life insurance companies namely Life Insurance Company, Surya Life Insurance Company, Prime Life Insurance Company, Jyoti Life Insurance Company and Sun Nepal Life Insurance Company have invested Rs 250 million in this bank, which includes Rs 50 million each. Non-life insurance companies are yet to invest in infrastructure banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chairman of the Insurance Board, Surya Prasad Silwal said that insurance companies failed to invest according to the guidelines. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“According to the demand of the companies, we diversified the areas of investment by changing the guidelines. But they do not want to take the investment risk,” said Silwal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Silwal added that the capital accumulated in the insurance companies should contribute to the development of the country and they need to be forced to invest in the productive sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A year ago, the board also issued instructions to invest according to the guidelines, saying that the insurance companies did not invest in the infrastructure development sector. Despite the instructions, the companies invested only 1.41 percent or Rs 7.45 billion in the infrastructure sector. The board informed that out of this amount, the investment of life insurance companies amounted to Rs 7.14 billion and the investment of non-life insurance companies was more than Rs 300 million. The directive allows insurance companies to invest in the real estate sector as well. However, the companies are reluctant to invest in this sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15688', 'image' => '20220907110038_Insurance.jpg', 'article_date' => '2022-09-07 10:59:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15946', 'article_category_id' => '1', 'title' => 'Nepal’s Public Debt Increases by Rs 300 Billion in a Year', 'sub_title' => '', 'summary' => 'September 7: The external sector of the economy is under pressure due to the devaluation of Nepalese currency. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The external sector of the economy is under pressure due to the devaluation of Nepalese currency. As Nepal has to pay the loans and interest taken from different countries and donor agencies in US dollars or other convertible currencies, the external sector is under pressure due to the rising price of US dollar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been taking loans in US dollar, euro, Chinese yuan, Japanese yen, and British pound. The country needs to pay the interest on such loans in foreign currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late, the Nepalese currency is being devalued against the US dollar and other foreign currencies resulting in pressure to the external sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under Secretary at the Public Debt Management Office, Dinesh Regmi, admits that the country’s external sector is under pressure to manage foreign debt due to the devaluation of Nepalese currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The foreign loans have to be paid in terms of US dollars or other foreign currency. Since the value of US dollar is increasing, the amount of loan to be repaid by the country is also increasing,” said Regmi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The foreign exchange rate is causing problems for us a lot,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has to bear an additional cost of Rs 22.7 billion while repaying foreign debt every three months due to the volatile foreign exchange rate. According to the office, Nepal paid a total of Rs 117.42 billion as loan and interest during the last fiscal year. During the review year, Nepal repaid loans of Rs 72.8 billion and interest of Rs 44.61.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal had to pay a fine of Rs 41 million during the last fiscal year, the Public Debt Management Office informed. According to the office, the fine was imposed due to the delay in payment of the interest and loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Nepal’s public debt has been increasing in recent years. As per the latest data released by the Public Debt Management Office, the total public debt of Nepal is more than Rs 2011 billion. Out of this amount, Nepal’s foreign debt is Rs 1025 billion while internal debt is Rs 900.86 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The public debt of Nepal increased by around Rs 300 billion by the end of last fiscal year (FY 2021/22) as compared to the previous fiscal year (FY 2020/21). Nepal’s public debt was Rs 1737 by the end of Fiscal Year 2020/21.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15687', 'image' => '20220907103815_public debt.jpg', 'article_date' => '2022-09-07 10:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15945', 'article_category_id' => '1', 'title' => 'Infrastructure Summit to Kick off on Thursday', 'sub_title' => '', 'summary' => 'September 7: The fourth edition of Nepal Infrastructure Summit is all set to kick off in Kathmandu from Thursday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The fourth edition of Nepal Infrastructure Summit is all set to kick off in Kathmandu from Thursday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The two-day event is being organized by the Confederation of Nepalese Industries in collaboration with the Ministry of Physical Infrastructure and Transport. The CNI has been organizing this event since 2014. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The organisers informed that the stakeholders will discuss issues ranging from transportation to energy, urban development, drinking water and sanitation, climate change, infrastructure projects among other topics during the summit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The theme of this year’s summit is ‘Infrastructure for Development’.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The organisers expect investment commitment for green infrastructure and economic revival during the summit. The summit is also expected to stress on policy intervention for innovative financial framework, foreign direct investment, participation of private sector and digital transformation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Experts from the country and abroad as well as representatives of all three tiers of government and the private sector will hold indepth discussion on investment for infrastructure, successful practices of infrastructure development across the world and obstacles in achieving infrastructure development,” reads a statement issued by CNI.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, different sessions of the summit will be attended by former prime ministers, incumbent ministers in the federal government, chief ministers of provinces, mayors, members of National Planning Commission, professors and representatives from Nepal Rastra Bank, World Bank, Asian Development Bank. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Investment Board Nepal and Youth Community for Nepalese Contractors are the co-sponsors of the event. According to the CNI, the event will be held on September 8 and 9.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The summit is expected to draw over 500 participants including representatives of the Government of Nepal, private sector, foreign dignitaries, think tanks and investors.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15686', 'image' => '20220907100040_infra.jpg', 'article_date' => '2022-09-07 10:00:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15944', 'article_category_id' => '1', 'title' => 'Majority of Climbers Acquire Permits to Scale Mt Manaslu during this Autumn', 'sub_title' => '', 'summary' => 'September 7: Mountaineers are growingly attracted towards climbing Mt Manaslu (8,163m), the eighth highest peak in the world. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Mountaineers are growingly attracted towards climbing Mt Manaslu (8,163m), the eighth highest peak in the world. The number of climbers seeking permission to climb Mt Manaslu during this autumn season is highest among all other mountain peaks, reports the state-owned national news agency RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Tourism, a total of 237 climbers of 25 expedition teams have been granted permission to scale different peaks in Nepal including Mt Everest. Most of them will be climbing Mt Manaslu. The department informed RSS that altogether 214 climbers of 19 expedition teams will be climbing Mt Manaslu this season. Among them, 160 are female and 50 are male climbers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manaslu has become the preferred choice among the climbers as the autumn season is considered ideal for climbing the mountain peak. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung says that the number of climbers aspiring to scale Mt Manaslu is encouraging this year just like in the past years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Managing Director of Seven Summit Treks Pvt Ltd Mingma Sherpa confirmed that lots of tourists are acquiring permits to climb Mt Manaslu this year. According to Sherpa, his company will be assisting 60 climbers to scale Manaslu. He says that the number of climbers is expected to increase as the climbing window will be open for about a month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government had marked the diamond jubilee (60 years) of the first ascent of Mt Manaslu six years ago. The mountain received good publicity across the world after a 21-member expedition team of Bahrain’s Prince Sheikh Mohammad Hamam Al Khalifa scaled the peak two years ago. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15685', 'image' => '20220907091325_mount-manaslu.jpg', 'article_date' => '2022-09-07 09:12:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15942', 'article_category_id' => '1', 'title' => 'State-Owned Insurance Company Struggling to meet Paid-up Capital Requirement', 'sub_title' => '', 'summary' => 'September 6: Rastriya Beema Company, the one and only state-owned non-life insurance company of Nepal, is struggling to meet the paid-up capital limit fixed by the Insurance Board.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 6: Rastriya Beema Company, the one and only state-owned non-life insurance company of Nepal, is struggling to meet the paid-up capital limit fixed by the Insurance Board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the directive of the Insurance Board, non-life insurance companies need to raise their paid-up capital to Rs 2.5 billion by mid-April. Currently, the paid-up capital of the Rastriya Beema Company is Rs 266.63 million. The company is in need of an additional Rs 2.23 billion to meet the requirement of the Insurance Board, the regulatory body of the insurance sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Beema Company split from its parent company Rastriya Beema Sansthan, the state-owned life insurance company, on August 3, 2014 and started providing non-life insurance service. The company has not been able to distribute cash dividend due to its failure to approve the audit report of last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other non-life insurance companies have already prepared plans to meet the paid-up capital requirement set by the Insurance Board but this company is yet to take any decision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Insurance Board has approved the audit report of this company till 2015/16 on condition that it cannot distribute cash dividend. Spokesperson of the Insurance Board Raju Raman Poudel says that the company can distribute cash dividend only after the audit report up to last fiscal year gets approved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The company cannot get off the hook just because it is a state-owned company,” said Poudel, adding, “It must maintain the paid-up capital fixed by the board just like other companies.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel informed New Business Age that the company will face action if it fails to maintain the paid-up capital set by the board within the given timeframe. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“How can we tell other companies to meet the paid-up capital requirement if the state-owned company disobeys the directive?” questioned Poudel. He said that the government must be serious towards this issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company’s Acting CEO Subash Koirala says that they are ready to follow the instructions of the Insurance Board. However, he said that he cannot say anything about increasing the capital at the moment because they are awaiting the response from Finance Ministry which owns the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the company has sought the view of the Finance Ministry in this regard but has not got any response from the ministry.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-06', 'modified' => '2022-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '15684', 'image' => '20220906045047_rbl.jpg', 'article_date' => '2022-09-06 16:50:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15958', 'article_category_id' => '1', 'title' => 'Tourist Guides taking Tourists inside Bouddhanath Stupa without Ticket to Face Action ', 'sub_title' => '', 'summary' => 'September 8: Authorities have warned of action against tourist guides and hotel entrepreneurs involved in taking tourists inside the premises of Bouddhanath Stupa, a UNESCO World Heritage Site, without tickets. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: Authorities have warned of action against tourist guides and hotel entrepreneurs involved in taking tourists inside the premises of Bouddhanath Stupa, a UNESCO World Heritage Site, without tickets. The Bouddhanath Area Development Committee has issued such warning after tourist guides and hotel entrepreneurs were found to have facilitated the entry of tourist inside the world heritage site without tickets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive Director of the Committee, Nayan Kumar Lama, told RSS that list of the hotels located from Chuchchepati to Jorpati is being prepared in the first phase for action. Ticket counter of the committee remains open from 10:00 am to 5:00 pm but the tourism entrepreneurs have been colluding with concerned parties to evade the ticket counter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the committee, tourists are found staying at hotels in the night and visiting Bouddhanath area in the morning without ticket. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Tourists are found entering the Bouddhanath Stupa premises without ticket in collusion with hotel entrepreneurs, tourist guides and staff deputed at the ticket counter,” the committee said in a statement. The committee held discussion with hotel entrepreneurs in this regard in the first phase and is planning to take action. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee has determined the entry fee for tourists from SAARC countries at Rs 100 per person and Rs 400 per person for visitors from other countries except SAARC nations. Thousands of tourists visit Bouddhanath area every month. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15699', 'image' => '20220908050223_bouddhanath.jpg', 'article_date' => '2022-09-08 17:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15957', 'article_category_id' => '1', 'title' => 'Civil Servants do not Perform their Duties: PM Deuba', 'sub_title' => '', 'summary' => 'September 8: Prime Minister Sher Bahadur Deuba has expressed dissatisfaction over the working style of the civil servants.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 8: Prime Minister Sher Bahadur Deuba has expressed dissatisfaction over the working style of the civil servants. While addressing a programme held on Wednesday on the occasion of the Civil Service Day, he said that not only politicians but also civil servants are equally responsible of the deteriorating situation of the country.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deuba said that the situation has become so dire that foreign help is necessary even for paying the salaries of the employees.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> “There is no money, how long are we going to seek funds from abroad?” Deuba questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that it is necessary to find out what caused the country's downfall. PM Deuba pointed out the need for a comprehensive discussion on why the country could not develop. He said that there is no progress because the employees do not want to go to remote areas. He complained that the country is lagging behind even when there are local, state and central governments.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The PM also questioned who is responsible for the country's downfall. He questioned, “Is it only the political parties or the bureaucracy as well? Why are the works not being done? Let's have a broad discussion. We are here for 5 years. But you will be here until you retire. None of the work is accomplished. The country is in turmoil. The employees go to the office, sign attendance and return back. They don't even stay at the office,” said Deuba.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that if the government employees do not cooperate, nothing can be achieved through policies and political parties alone. “The country cannot move forward unless there is support (from the employees). If the permanent government does not work, how can the country move forward?” Deuba questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also said that no country can move forward without the help of bureaucracy. “Bureaucracy is the first means of serving the people. If it doesn't work, how will the country be built?” Dexpressed his dissatisfaction, adding, “There are no doctors in the hospitals. There are no engineers. The CDO sometimes goes to the office but returns back almost immediately.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">At the programme, PM Deuba also instructed the employees to work responsibly in all places. He also made it clear that the government is ready to provide necessary facilities to the employees to work for the development of the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15698', 'image' => '20220908043822_deubaji.jpg', 'article_date' => '2022-09-08 16:36:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15956', 'article_category_id' => '1', 'title' => 'New Business Age organizing Green Ride Cycle Rally on Sept 24', 'sub_title' => '', 'summary' => 'September 8: New Business Age Pvt Ltd is organizing Green Ride Cycle Rally targeting corporate houses.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 8: New Business Age Pvt Ltd is organizing Green Ride Cycle Rally targeting corporate houses.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This event is being organized with the slogan 'When going gets tough, the tough get cycling'. The 20-kilometer cycle rally will be held on Saturday, September 24.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The cycle rally will start from Thapathali-based office of New Business Age and end after reaching Park Village Resort, Budhanilkantha. The rally will start at 7 am and the route has been fixed from Thapathali to Putlisadak, Durbarmarg, Sorhakhutte, Balaju Bypass, Tarakeshwar, Tokha, Chandeshwari, Dulal Tole and end at Park Village Resort, Budhanilkantha.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the organisers, the bicycle rally is being held in Kathmandu Valley to raise public awareness about carbon emission reduction and to encourage the use of green energy. Those who want to participate in the rally will have to pay a fee of Rs 1,500. For registration, interested candidates can fill up Google form available on the Facebook and Instagram pages of New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Individuals can rent bicycles by paying an additional fee. All the participants will be provided with jersey in addition to paramedic (ambulance with ventilator) service, emergency medical treatment and accident insurance up to Rs 100,000. Also, a water station will be placed every 5 kilometers. At the end of the rally, the participants will be given a certificate and lunch.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1317.html">panerai watch replica swiss</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1318.html">replica rolex daytona watch straps</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1319.html">buy rolex gmt master ii replica</a> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In recent times, lakes and ponds are drying up in some places due to the global climate change and temperature rise while extreme drought is observed in some places while other areas are witnessing excessive rainfall. Natural disasters such as floods and landslides are also reported frequently. Although Nepal's contribution to global carbon emissions is low, the emissions cannot be ignored. Nepal has set a goal of becoming a zero carbon emitter by 2045.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The form is available in the link below:</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">https://docs.google.com/forms/d/e/1FAIpQLSe-5CaZXPwfiY-BqlpVLU5TBTJLG52qKpZtr0eVSx6VpKTUEw/viewform</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-09', 'keywords' => '', 'description' => '', 'sortorder' => '15697', 'image' => '20220908032301_1662617812.new.jpg', 'article_date' => '2022-09-08 15:22:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15954', 'article_category_id' => '1', 'title' => 'Advance Ticket Booking for Dashain to Open from September 17', 'sub_title' => '', 'summary' => 'September 8: The government has decided to open advance ticket bookings for Dashain from September 17. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">September 8: The government has decided to open advance ticket bookings for Dashain from September 17. A meeting of the Department of Transport Management chaired by Director General Tokraj Pandey on Wednesday decided to open advance ticket bookings from Saturday, September 17, targeting the festive season.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Bijay Bahadur Swar, president of the Federation of Nepalese National Transport Entrepreneurs, informed that the meeting has directed transport entrepreneurs to arrange for online booking as far as possible and also to provide discounts to the passengers who book tickets online.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the meeting has decided to effectively monitor advance ticket booking and passenger vehicles leaving and entering the valley in collaboration between the department, traffic police, consumer forum, transport entrepreneurs and laborers. The meeting has also urged all stakeholders to adopt adequate health standards keeping in mind the Covid-19 pandemic. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">General Secretary of the federation Deknath Gautam informed that it has been decided to completely discourage the act of selling tickets from unauthorized counters and people who do not have an identity card.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The meeting has also decided to request the concerned bodies to repair the major roads and to facilitate the traffic operation. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In order to facilitate traffic movement, it has been decided to prohibit the operation of large vehicles, except the ones used for the transportation of essential items such as food grains, from Narayanghat to Kathmandu from October 1 to 8. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The meeting was attended by Director General Pandey, Chief of Kathmandu Valley Traffic Police Office, Deputy Inspector General of Police Meera Chaudhary, DoTM directors Radhakrishna Khatiwada and Ishwaridatta Paneru, FNNTE President Swar, Senior Vice President Saroj Sitaula and other stakeholders.</span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15695', 'image' => '20220908025647_Transport.jpg', 'article_date' => '2022-09-08 14:55:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15953', 'article_category_id' => '1', 'title' => 'Mustang Apples will be Available in the Market Soon', 'sub_title' => '', 'summary' => 'September 8: Apples produced in Mustang will be available in the market in the third week of September this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 8: Apples produced in Mustang will be available in the market in the third week of September this year. Stakeholders and apple farmers have reached an understanding to pick and sell apples in the district from September 10 onwards.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">By now, the apples have already ripened on the plant. Ripe and red apples can be seen along the road while going uphill from Kobang, Thasang rural municipality-2 of Mustang through the Beni-Jomsom road. Local residents say that tourists who come to visit Mustangs stop their cars and take selfies, make videos and buy the apples as souvenirs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the next few days, the farmers will get busy in picking the ripe apples and deliver them to the market. Farmers here are also excited after getting permission to pick apples five days earlier this year than last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Last year, permission was given to pick and sell apples from September 17. It is estimated that both the farmers and traders will benefit this time. Last year, both the farmers and traders had to bear losses due to the unavailability of markets for apples on time.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15694', 'image' => '20220908022220_apple.jpg', 'article_date' => '2022-09-08 14:21:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15952', 'article_category_id' => '1', 'title' => 'Government Revises Controversial Tax Rates', 'sub_title' => '', 'summary' => 'September 8: The government has revised the tax rates that courted controversy for favouring certain business establishments.', '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:"Nirmala UI","sans-serif"">September 8: The government has revised the tax rates that courted controversy for favouring certain business establishments.</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:"Nirmala UI","sans-serif"">The controversial tax provisions included in the budget for the current fiscal year has been amended by a cabinet meeting on Wednesday upon the recommendation of Finance Minister Janardan Sharma.</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:"Nirmala UI","sans-serif"">Finance Minister Sharma was forced to resign from his post after he was accused of changing the tax rates by inviting unauthorized persons inside the ministry on the eve of the budget announcement. Around half a dozen Galvanized Iron (GI) wire industries of Biratnagar were forced to shut down due to the change in tax rates. Industrialists of eastern Nepal has resorted to protest against the unfair tax rates imposed by the government.</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:"Nirmala UI","sans-serif"">The Council of Ministers has revised the tax rates of sanitary pads, GI wire and cooking oil.</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:"Nirmala UI","sans-serif"">According to informed sources, the cabinet meeting has revoked the decision to increase the tax imposed on raw materials required for producing GI wire and fixed the old rate.</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:"Nirmala UI","sans-serif"">The importers will have to pay only 5 percent customs duty to bring the raw materials required for GI wire industry. However, the government has not changed the excise duty imposed on this material.</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:"Nirmala UI","sans-serif"">The government has also decided to lower the customs duty on raw materials required for producing sanitary pads within 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:"Nirmala UI","sans-serif"">The government had announced in the budget for the current fiscal year to waive 90 percent tax for the import of ready-made sanitary pads. This put the domestic industries that produce sanitary pads in trouble because the cost of production would be higher than the imported pads.</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:"Nirmala UI","sans-serif"">The government had made arrangements for biscuit and noodle industries to import readymade edible oil by paying just 5 percent taxes while the cooking oil manufacturing companies had to pay 10 percent taxes for importing raw materials required for producing oil. Now, the government has lowered the taxes on raw materials to 5 percent.</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:"Nirmala UI","sans-serif"">Meanwhile, the government has not changed the customs duty imposed for the import of electric vehicles despite adopting a policy to promote clean energy.</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"">Sharma, who courted controversy for changing the tax rates in favour of certain business houses, was reinstated to his post after the parliamentary probe committee gave him a clean chit into the allegation. </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"">Soon after his reinstatement, Sharma had formed a committee to study the issue of the controversial tax rates. The committee was headed by Revenue Secretary Rameshwar Dangal. Other members of the committee included Director General of the Inland Revenue Department Ritesh Shakya, Revenue Division’s Chief Bhupal Baral ad Director General of the Department of Customs Kamal Bhattarai.</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"">Minister Sharman urged the cabinet to change the tax rates as per the recommendation of the committee.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15693', 'image' => '20220908125429_1662590300.Clipboard13.jpg', 'article_date' => '2022-09-08 12:53:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15951', 'article_category_id' => '1', 'title' => 'Goods Brought for Dashain Stopped in Tibet ', 'sub_title' => '', 'summary' => 'September 8: The goods that are being imported to Nepal for the Dashain festival have been stopped across the northern border due to lockdown in Tibet autonomous region of China. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 8: The goods that are being imported to Nepal for the Dashain festival have been stopped across the northern border due to lockdown in Tibet autonomous region of China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Containers loaded with clothes, electronic devices, fruits and other items are not allowed to enter Nepal on the pretext of controlling the Covid-19 infection. The Nepal-bound fruits have started decaying, said Chairperson of Sindhupalchowk Chamber of Commerce and Industry, Raj Kumar Basnet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The apples loaded in some 50 containers are getting decayed,” said Basnet. Most of the apples imported to Nepal are from 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"">The Chinese government has ordered to stop the goods-carrying vehicles entering Lhasa from mainland China for the time being reasoning that there is still lockdown in Tibet after the spread of coronavirus infection. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair Banset shared that more than 200 containers have been stopped at Keyrong and around 100 containers at Khasa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Tatopani Dry Port Customs Office, Narad Gautam, confirmed that the import of goods has been halted. He added that the lockdown imposed in different cities of Tibet since August 8 due to coronavirus infection is still in place. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subas Timilsina, a Nepali businessperson, complained that Nepali importers bringing different goods from China have been facing problems due to the lockdown imposed in Tibet. – RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-08', 'modified' => '2022-09-08', 'keywords' => '', 'description' => '', 'sortorder' => '15692', 'image' => '20220908110826_Rasuwagadhi border point.jpg', 'article_date' => '2022-09-08 11:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15950', 'article_category_id' => '1', 'title' => 'Stakeholders Demand Feasibility Study for Establishing New Industrial Estate in Bara-Parsa Corridor', 'sub_title' => '', 'summary' => 'September 7: Stakeholders have demanded a feasibility study for establishing a new industrial estate in Bara-Parsa Industrial Corridor due to the difficulty in acquiring land in the existing industrial area. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Stakeholders have demanded a feasibility study for establishing a new industrial estate in Bara-Parsa Industrial Corridor due to the difficulty in acquiring land in the existing industrial area. Birgunj Chamber of Commerce has requested the Industrial District Management Limited to conduct a feasibility study to set up a new industrial estate in the region.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon the request from industrialists, the Ministry of Industry, Commerce and Supplies has already started the process to establish a new industrial estate in this region. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the Industrial District Management Limited has urged the chamber to help them in conducting the feasibility study. Vice President of Birgunj Chamber of Commerce Hari Gautam informed that they are ready to cooperate with the Industrial District Management Limited to conduct the feasibility study. Gautam said that the chamber has requested the Industrial District Management Limited to carry out the feasibility study as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Gautam, preparations are underway to conduct a feasibility study on establishing a new industrial estate in 650 bighas (47,385,000 square feet) of land in the name of a Guthi (trust) in ward number 31 of Birgunj Municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The task force to conduct the study will include representatives from the Guthi corporation, Birgunj Municipality, Land Revenue Office, Land Management Office and the Land Survey Office.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction of the industrial estate will start after the task force submits its report to the government and the Council of Ministers approves it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Industry, Commerce and Supplies had instructed the concerned authorities on April 28 to conduct a detailed study for setting up an industrial estate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The local industrialists of Bara-Parsa Industrial Corridor have been demanding a new industrial estate due to the rising prices of land in the area as well as conflict with the locals and problems related to sewerage management. Birgunj is the biggest industrial area of the country. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15691', 'image' => '20220907062642_Industries.jpg', 'article_date' => '2022-09-07 18:25:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15949', 'article_category_id' => '1', 'title' => 'UML Lawmaker Against the Idea of a New Stock Exchange Company', 'sub_title' => '', 'summary' => 'September 7: Members of Parliament on Tuesday drew the government’s attention to contemporary political and national issues.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 7: Members of Parliament on Tuesday drew the government’s attention to contemporary political and national issues. During the House of Representatives meeting on Tuesday, UML MP Krishna Prasad Dahal raised the issue of a new stock exchange company. Speaking at the zero hour of the meeting, he said that another stock exchange company was not necessary. He opined that Nepal Stock Exchange, which is currently in operation, should be made capable and strong, rather than introducing new stock exchange companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He stressed on modernizing the Nepal Stock Exchange (NEPSE) in order to make it effective and strong. He said that Nepal's capital market is not in a position to support a new stock exchange company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dahal also said that the government is about to issue license to a new stock exchange company in an unauthorized manner. He accused the government of taking a wrong decision saying that such a new organization was not necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Securities Board of Nepal recently amended the 'Securities Market Operation Regulations, 2064' to allow the private sector to issue stock exchange licenses. In the regulations, the board increased the paid-up capital of stock exchange companies to a minimum of Rs 3 billion. Currently, the paid up capital of the stock exchange company is Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Meanwhile, NEPSE’s Manager Niranjan Phuyal insists that a new stock exchange company is necessary. He argues that the state-owned NEPSE is not able to perform well. According to Phuyal, if NEPSE faces any technical problem it will take nine months to purchase new technology as they have to go through public procurement process. Therefore, Phuyal says there is a need of another stock exchange company to make the stock market competitive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15690', 'image' => '20220907055411_share.jpg', 'article_date' => '2022-09-07 17:53:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15948', 'article_category_id' => '1', 'title' => 'New Airports to Generate Profit after a Decade', 'sub_title' => '', 'summary' => 'September 7: It is estimated that the two new international airports of Nepal, which are ready for operation, will take 10 to 15 years to generate profit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 7: It is estimated that the two new international airports of Nepal, which are ready for operation, will take 10 to 15 years to generate profit. The Civil Aviation Authority of Nepal says that the airports, which are ready after almost seven decades, will take time to make profit.</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"">Bhairahawa-based Gautam Buddha International Airport is the second international airport of Nepal after the Tribhuvan International Airport while the Pokhara Regional International Airport will come into operation from January 1, 2023.</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"">CAAN Spokesperson Jagannath Niraula said that the construction of the airports was delayed due to the Covid-19 pandemic.</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"">Niraula says that Pokhara Regional International Airport will earn profit after 15 years while Gautam Buddha International Airport will generate profit after 10 years. </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"">Spokesperson Niraula said that 50 percent of the Chinese tourists visit Pokhara and Chinese airline companies have also shown interest to operate flights to the Pokhara Regional International Airport. </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 the CAAN, the number of air passengers is increasing every year by ten percent. Therefore, CAAN believes that more airline companies will operate flights to the new airports because the number of passengers is increasing every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15689', 'image' => '20220907042148_Pokhara-Airport-800X533.jpg', 'article_date' => '2022-09-07 16:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15947', 'article_category_id' => '1', 'title' => 'Insurance Companies Deposit Most of the Money in Fixed Deposits of Banks', 'sub_title' => 'Insurance Companies Fail to Diversify Investment', 'summary' => 'September 7: It has been found that most of the investments of insurance companies have been accumulated in fixed deposits of banks and financial institutions.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">September 7: It has been found that most of the investments of insurance companies have been accumulated in fixed deposits of banks and financial institutions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The insurance companies have deposited the amount collected as insurance fee in fixed deposit accounts after failing to diversify their investment as per the guidelines of the Investment Board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Insurance Board, by the end of the fiscal year 2021/22, 19 life insurance companies and 20 non-life insurance companies invested a total of Rs 527.8 billion. Among these investments, 408 billion has invested in fixed deposits of banks and financial institutions. This is 77.48 percent of the total investment of insurance companies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Among the fixed deposits, the highest investment is in commercial banks, which accounts for 67.24 percent of the total investment followed by development banks (9.09 percent) and finance companies (1.10 percent).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Insurance Board had changed the investment guidelines three years ago and allowed to diversify investment as per the suggestion of the insurance companies. However, they are still unable to invest. As a result, they focused on fixed deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The guidelines issued by the board in March 2019 has opened way to invest in infrastructure and productive sectors such as real estate business, water resources, agriculture, tourism, in addition to fixed deposits and shares. However, insurance companies do not seem to be attracted to other areas except fixed deposits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As per the guidelines, companies should invest a minimum of 40 percent of their total technical reserve in fixed deposits of commercial and infrastructure banks and a minimum of 5 percent in government bonds. Similarly, a maximum of 20 percent can be invested in development banks and a maximum of 10 percent in finance companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, they can invest up to 5 percent in real estate business, up to 10 percent in ordinary shares of listed companies, up to 20 percent in preference shares, up to 20 percent in shares of listed companies, up to 20 percent in infrastructure including agriculture, tourism and water resources, and up to 5 percent in Citizens Investment Trust and mutual funds.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The insurance companies are not yet able to diversify their investments according to the guidelines. Most of their investments are concentrated in fixed deposits of banks and financial institutions followed by bonds and stock markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Following the guidelines, a minimum of 40 percent should be invested in the fixed deposits of Nepal Infrastructure Bank, but the companies have invested only 0.05 percent. Five life insurance companies namely Life Insurance Company, Surya Life Insurance Company, Prime Life Insurance Company, Jyoti Life Insurance Company and Sun Nepal Life Insurance Company have invested Rs 250 million in this bank, which includes Rs 50 million each. Non-life insurance companies are yet to invest in infrastructure banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chairman of the Insurance Board, Surya Prasad Silwal said that insurance companies failed to invest according to the guidelines. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“According to the demand of the companies, we diversified the areas of investment by changing the guidelines. But they do not want to take the investment risk,” said Silwal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Silwal added that the capital accumulated in the insurance companies should contribute to the development of the country and they need to be forced to invest in the productive sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A year ago, the board also issued instructions to invest according to the guidelines, saying that the insurance companies did not invest in the infrastructure development sector. Despite the instructions, the companies invested only 1.41 percent or Rs 7.45 billion in the infrastructure sector. The board informed that out of this amount, the investment of life insurance companies amounted to Rs 7.14 billion and the investment of non-life insurance companies was more than Rs 300 million. The directive allows insurance companies to invest in the real estate sector as well. However, the companies are reluctant to invest in this sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15688', 'image' => '20220907110038_Insurance.jpg', 'article_date' => '2022-09-07 10:59:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15946', 'article_category_id' => '1', 'title' => 'Nepal’s Public Debt Increases by Rs 300 Billion in a Year', 'sub_title' => '', 'summary' => 'September 7: The external sector of the economy is under pressure due to the devaluation of Nepalese currency. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The external sector of the economy is under pressure due to the devaluation of Nepalese currency. As Nepal has to pay the loans and interest taken from different countries and donor agencies in US dollars or other convertible currencies, the external sector is under pressure due to the rising price of US dollar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been taking loans in US dollar, euro, Chinese yuan, Japanese yen, and British pound. The country needs to pay the interest on such loans in foreign currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late, the Nepalese currency is being devalued against the US dollar and other foreign currencies resulting in pressure to the external sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under Secretary at the Public Debt Management Office, Dinesh Regmi, admits that the country’s external sector is under pressure to manage foreign debt due to the devaluation of Nepalese currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The foreign loans have to be paid in terms of US dollars or other foreign currency. Since the value of US dollar is increasing, the amount of loan to be repaid by the country is also increasing,” said Regmi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The foreign exchange rate is causing problems for us a lot,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has to bear an additional cost of Rs 22.7 billion while repaying foreign debt every three months due to the volatile foreign exchange rate. According to the office, Nepal paid a total of Rs 117.42 billion as loan and interest during the last fiscal year. During the review year, Nepal repaid loans of Rs 72.8 billion and interest of Rs 44.61.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal had to pay a fine of Rs 41 million during the last fiscal year, the Public Debt Management Office informed. According to the office, the fine was imposed due to the delay in payment of the interest and loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Nepal’s public debt has been increasing in recent years. As per the latest data released by the Public Debt Management Office, the total public debt of Nepal is more than Rs 2011 billion. Out of this amount, Nepal’s foreign debt is Rs 1025 billion while internal debt is Rs 900.86 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The public debt of Nepal increased by around Rs 300 billion by the end of last fiscal year (FY 2021/22) as compared to the previous fiscal year (FY 2020/21). Nepal’s public debt was Rs 1737 by the end of Fiscal Year 2020/21.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15687', 'image' => '20220907103815_public debt.jpg', 'article_date' => '2022-09-07 10:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15945', 'article_category_id' => '1', 'title' => 'Infrastructure Summit to Kick off on Thursday', 'sub_title' => '', 'summary' => 'September 7: The fourth edition of Nepal Infrastructure Summit is all set to kick off in Kathmandu from Thursday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: The fourth edition of Nepal Infrastructure Summit is all set to kick off in Kathmandu from Thursday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The two-day event is being organized by the Confederation of Nepalese Industries in collaboration with the Ministry of Physical Infrastructure and Transport. The CNI has been organizing this event since 2014. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The organisers informed that the stakeholders will discuss issues ranging from transportation to energy, urban development, drinking water and sanitation, climate change, infrastructure projects among other topics during the summit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The theme of this year’s summit is ‘Infrastructure for Development’.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The organisers expect investment commitment for green infrastructure and economic revival during the summit. The summit is also expected to stress on policy intervention for innovative financial framework, foreign direct investment, participation of private sector and digital transformation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Experts from the country and abroad as well as representatives of all three tiers of government and the private sector will hold indepth discussion on investment for infrastructure, successful practices of infrastructure development across the world and obstacles in achieving infrastructure development,” reads a statement issued by CNI.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, different sessions of the summit will be attended by former prime ministers, incumbent ministers in the federal government, chief ministers of provinces, mayors, members of National Planning Commission, professors and representatives from Nepal Rastra Bank, World Bank, Asian Development Bank. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Investment Board Nepal and Youth Community for Nepalese Contractors are the co-sponsors of the event. According to the CNI, the event will be held on September 8 and 9.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The summit is expected to draw over 500 participants including representatives of the Government of Nepal, private sector, foreign dignitaries, think tanks and investors.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15686', 'image' => '20220907100040_infra.jpg', 'article_date' => '2022-09-07 10:00:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15944', 'article_category_id' => '1', 'title' => 'Majority of Climbers Acquire Permits to Scale Mt Manaslu during this Autumn', 'sub_title' => '', 'summary' => 'September 7: Mountaineers are growingly attracted towards climbing Mt Manaslu (8,163m), the eighth highest peak in the world. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 7: Mountaineers are growingly attracted towards climbing Mt Manaslu (8,163m), the eighth highest peak in the world. The number of climbers seeking permission to climb Mt Manaslu during this autumn season is highest among all other mountain peaks, reports the state-owned national news agency RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Tourism, a total of 237 climbers of 25 expedition teams have been granted permission to scale different peaks in Nepal including Mt Everest. Most of them will be climbing Mt Manaslu. The department informed RSS that altogether 214 climbers of 19 expedition teams will be climbing Mt Manaslu this season. Among them, 160 are female and 50 are male climbers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manaslu has become the preferred choice among the climbers as the autumn season is considered ideal for climbing the mountain peak. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former General Secretary of Nepal Mountaineering Association Kul Bahadur Gurung says that the number of climbers aspiring to scale Mt Manaslu is encouraging this year just like in the past years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Managing Director of Seven Summit Treks Pvt Ltd Mingma Sherpa confirmed that lots of tourists are acquiring permits to climb Mt Manaslu this year. According to Sherpa, his company will be assisting 60 climbers to scale Manaslu. He says that the number of climbers is expected to increase as the climbing window will be open for about a month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government had marked the diamond jubilee (60 years) of the first ascent of Mt Manaslu six years ago. The mountain received good publicity across the world after a 21-member expedition team of Bahrain’s Prince Sheikh Mohammad Hamam Al Khalifa scaled the peak two years ago. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-07', 'modified' => '2022-09-07', 'keywords' => '', 'description' => '', 'sortorder' => '15685', 'image' => '20220907091325_mount-manaslu.jpg', 'article_date' => '2022-09-07 09:12:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15942', 'article_category_id' => '1', 'title' => 'State-Owned Insurance Company Struggling to meet Paid-up Capital Requirement', 'sub_title' => '', 'summary' => 'September 6: Rastriya Beema Company, the one and only state-owned non-life insurance company of Nepal, is struggling to meet the paid-up capital limit fixed by the Insurance Board.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 6: Rastriya Beema Company, the one and only state-owned non-life insurance company of Nepal, is struggling to meet the paid-up capital limit fixed by the Insurance Board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the directive of the Insurance Board, non-life insurance companies need to raise their paid-up capital to Rs 2.5 billion by mid-April. Currently, the paid-up capital of the Rastriya Beema Company is Rs 266.63 million. The company is in need of an additional Rs 2.23 billion to meet the requirement of the Insurance Board, the regulatory body of the insurance sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rastriya Beema Company split from its parent company Rastriya Beema Sansthan, the state-owned life insurance company, on August 3, 2014 and started providing non-life insurance service. The company has not been able to distribute cash dividend due to its failure to approve the audit report of last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other non-life insurance companies have already prepared plans to meet the paid-up capital requirement set by the Insurance Board but this company is yet to take any decision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Insurance Board has approved the audit report of this company till 2015/16 on condition that it cannot distribute cash dividend. Spokesperson of the Insurance Board Raju Raman Poudel says that the company can distribute cash dividend only after the audit report up to last fiscal year gets approved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The company cannot get off the hook just because it is a state-owned company,” said Poudel, adding, “It must maintain the paid-up capital fixed by the board just like other companies.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel informed New Business Age that the company will face action if it fails to maintain the paid-up capital set by the board within the given timeframe. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“How can we tell other companies to meet the paid-up capital requirement if the state-owned company disobeys the directive?” questioned Poudel. He said that the government must be serious towards this issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company’s Acting CEO Subash Koirala says that they are ready to follow the instructions of the Insurance Board. However, he said that he cannot say anything about increasing the capital at the moment because they are awaiting the response from Finance Ministry which owns the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the company has sought the view of the Finance Ministry in this regard but has not got any response from the ministry.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-06', 'modified' => '2022-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '15684', 'image' => '20220906045047_rbl.jpg', 'article_date' => '2022-09-06 16:50:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
