September 2: Nepal Oil Corporation (NOC) has increased the price of diesel and kerosene by Rs 6 per litre.…
September 2: Nepal Oil Corporation (NOC) has increased the price of diesel and kerosene by Rs 6 per litre.…
September 1: The traffic police has banned mobile phone holders installed by motorbike riders for using ride-sharing…
September 1: Daayitwa, a non-profit, non-governmental organization that envisions an enterprising Nepal where every individual has opportunities for a prosperous future, organized the fourth policy dialogue of the ECON Talks Series on “Boosting access to financial investment for women-led enterprises” on Monday, August…
September 1: Stakeholders have expressed concern that Nepal might fall in the grey area in terms of anti-money laundering…
September 1: Cash withdrawn from banks right from the beginning of the current fiscal year has started returning to the banking…
September 1: Minister for Culture, Tourism and Civil Aviation, Jeevan Ram Shrestha, on Wednesday held consultation with bodies concerned regarding launching a night heritage tour in Kathmandu…
September 1: Nepal Business Angels Circle (NBAC) is all set to convene the Pitch Date with Angles on September…
September 1: India’s Power Trade Company (PTC) Limited is all set to purchase 1200 megawatts of electricity to be generated by the West Seti and Seti River-6 hydropower…
August 31: The road from Sanga to Dhulikhel in Kavrepalanchowk is to be expanded in three years.…
August 31: The number of patients suffering from dengue fever has increased in the Kathmandu Valley in recent…
August 31: Nepal Chamber of Commerce has requested ambassadors appointed by the government as well as foreign envoys to facilitate in trade promotion and investment in Nepal.…
August 31: Nepal Rastra Bank has tightened the noose on payment made through prepaid dollar cards.…
August 31: The government has allowed the import of 6 out of the 10 items that were banned since April 26.…
August 31: The 'Nepal Hospitality Conclave – 2022,' which was postponed due to Covid-19, is all set to be held from September 24 to…
August 31: The Furniture and Furnishing Association of Nepal is all set to organize a furniture fair at Bhrikutimandap in Kathmandu from September 8 to…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 2: Nepal Oil Corporation (NOC) has increased the price of diesel and kerosene by Rs 6 per litre. The state-owned oil supplier informed that it increased the prices of diesel and kerosene after receiving a revised list of prices of petroleum products from the Indian Oil Corporation (IOC). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new list, the prices of petrol, diesel and kerosene has increased but the NOC has decided not to increase the price of petrol.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A board meeting of NOC on Thursday decided to increase the prices of diesel and kerosene effective from today (September 2). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NOC, the new price of diesel and kerosene has been fixed at Rs 178 per litre. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prices of aviation turbine fuel (ATF) and liquefied petroleum gas (LPG) remains unchanged at Rs 190 per litre and Rs 1800 per cylinder respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the price of petrol also remains stable at Rs 181 per litre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NOC, it is making a profit of Rs 2.82 from a litre of petrol while it has to incur a fortnightly loss of Rs 482.4 million for selling diesel and LPG.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the revised list received from IOC on Thursday, the price of petrol has increased by Rs 1.39 while the prices of diesel and aviation fuel have been increased by Rs 6.12 and Rs 8.1 respectively. On the other hand, IOC has slashed the price of kerosene and LPG.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-02', 'modified' => '2022-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '15653', 'image' => '20220902094017_Petrol-Price-Increase.jpg', 'article_date' => '2022-09-02 09:39:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15911', 'article_category_id' => '1', 'title' => 'Traffic Police Bans Use of Mobile Phone Holders in Motorbikes', 'sub_title' => '', 'summary' => 'September 1: The traffic police has banned mobile phone holders installed by motorbike riders for using ride-sharing apps.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">September 1: The traffic police has banned mobile phone holders installed by motorbike riders for using ride-sharing apps.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The police have launched a campaign to take action against such riders after it caused several accidents.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the police, installation of accessories other than the inbuilt accessories provided by the motorcycle company is considered as modified objects which is illegal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The police have started imposing fines after the drivers refused to remove such objects even after they were verbally told to remove the holders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The traffic police is planning to impose a fine of Rs 5,000 to 20,000 after a few days.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The traffic police argue that the risk of accidents has increased as the riders were found keeping the mobile phone on the holder and driving without paying proper attention.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Some of the ride-sharing apps such as Pathao, Tootle, InDriver, Super App, Saathi and others are currently operating in Nepal. They have millions of riders and around 10 million ride sharing users.</span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15652', 'image' => '20220901062224_e75fe18d73336fbde32ec37470eb58f2.jpg', 'article_date' => '2022-09-01 18:21:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15910', 'article_category_id' => '1', 'title' => 'Experts Recommend Innovative Ideas to Improve Women’s Access to Finance', 'sub_title' => '', 'summary' => 'September 1: Daayitwa, a non-profit, non-governmental organization that envisions an enterprising Nepal where every individual has opportunities for a prosperous future, organized the fourth policy dialogue of the ECON Talks Series on “Boosting access to financial investment for women-led enterprises” on Monday, August 29.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">September 1: Daayitwa, a non-profit, non-governmental organization that envisions an enterprising Nepal where every individual has opportunities for a prosperous future, organized the fourth policy dialogue of the ECON Talks Series on “Boosting access to financial investment for women-led enterprises” on Monday, August 29.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The panel discussion was attended by Nepal Rastra Bank’s Executive Director Dr Gunakar Bhatta, finance expert Monisha Shrestha, FWEAN First Vice President Shova Gyawali and Executive Director of One to Watch Suman Joshi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the discussion was held to support the policymakers and policy implementers to come up with pragmatic and effective models and schemes with a rich and diverse set of knowledge from the panelists. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The panel recommended innovative alternatives like psychometric scoring, digital footprint of loan applicants to establish credit guarantee schemes in order to improve women’s access to finance, reads a statement issued by Daayitwa.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">While inaugurating the event, Executive Director of Daayitwa, Susit Dhakal remarked that sustainable economic growth of the nation is impossible without women’s economic empowerment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“However, women-led enterprises, while resolutely promoting national income, employment and identity, are facing myriad investment challenges,” he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> Dhakal said that the conclusion and recommendations derived from the dialogue will support the policymakers and policy implementers for suitable parliamentary actions to boost women’s access to financial investment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The challenges faced by women entrepreneurs in Nepal, lack of policies and programmes focused on rural MSMEs, unnecessary rules and regulations based on societal gender stereotypes discouraging women entrepreneurs, complicated documentation processes in banking and financial institutions (BFIs), lack of coordination between government agencies and BFIs, ineffective communication on existing loan and investment schemes, and language barriers to reach rural women entrepreneurs, alternative credit guarantee schemes, etc. were the major issues discussed in the dialogue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Addressing the event, MP Chanda Chaudhary reiterated the importance of effective implementation and monitoring of the existing policies and programs to ensure women’s access to investment and to accelerate women entrepreneurship in Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“It is very necessary for the government as well as the financial institutions to create a favorable environment for women entrepreneurs to take loans, invest in their innovative ideas and upgrade their enterprises,” said Chaudhary.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Joint Secretary of the Ministry of Industry, Commerce and Supplies, Radhika Aryal emphasized on the three key points for entrepreneurship development of women. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“We already have a few good policies and programmes focused on women entrepreneurs and women-led enterprises. But we are lagging on the implementation part. To increase women’s access to financial investment, the relevant credit and loan schemes need to be communicated well to the women especially those from the rural areas,” said Aryal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">She stressed on the need to simplify the process to access those schemes and that there should be good coordination between the government and BFIs.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15651', 'image' => '20220901043337_2.jpg', 'article_date' => '2022-09-01 16:32:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15908', 'article_category_id' => '1', 'title' => 'Nepal under Risk of Falling in Grey Area in Anti-Money Laundering Drive', 'sub_title' => '', 'summary' => 'September 1: Stakeholders have expressed concern that Nepal might fall in the grey area in terms of anti-money laundering efforts.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 1: Stakeholders have expressed concern that Nepal might fall in the grey area in terms of anti-money laundering efforts. They argue that the country is likely to fall in the grey area during next year’s evaluation by international observers because of the failure of the government to amend and implement the laws needed for anti-money laundering drive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a meeting of the Finance Committee of the House of Representatives on the topic of anti-money laundering efforts in the international level and Nepal’s stance, Governor of Nepal Rastra Bank Maha Prasad Adhikari on Tuesday told the lawmakers that the legislature parliament endorses laws but the implementation part is weak in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The parliament passes necessary laws but we are weak in implementing the laws,” said Adhikari, adding, “The evaluation team can make an on-site visit and learn about the laws and their implementation. Therefore, we need to focus on this issue.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Financial Action Task Force (FATF) is the international body responsible to oversee activities related to money laundering and financing terrorism. The Asia Pacific Group on Money Laundering under the FATF will monitor the anti-money laundering efforts of Nepal next year. It was supposed to evaluate Nepal’s position in 2020 but the schedule was postponed due to the Covid-19 pandemic upon Nepal’s request.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Governor Adhikari warned that Nepal might fall in the grey area as the parliament has passed 15 acts related to anti-money laundering effort but the implementation of those laws is weak. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">When Nepal was listed in the grey area in 2010, the country faced problems in opening bank accounts in American banks. Adhikari says that it will be difficult for the country to deal with international transactions if it falls in the grey area once again. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After it was listed in the grey area in 2010, Nepal pledged to curb money laundering activities and also promised to amend related laws. Following its commitment, the international body removed Nepal from the grey list in 2014. However, Nepal has not been able to formulate laws as per its commitment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Law Secretary at the Prime Minister’s Office Dhanraj Gyawali admits that the country has not been able to amend laws as per the instructions of FATF. Nepal needs to amend 15 different laws related to money laundering in the next one month if it is to avoid falling in the grey area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gyawali said that the prime minister has been requested to take initiatives to amend those laws as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Secretary at the Ministry of Law Udaya Raj Sapkota said that the country needs to move on to plastic economy from cash economy in order to curb money laundering. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Corruption, tax evasion, financial crime and hundi business pose high risk to the government’s efforts in curbing money laundering, says Dirgha Bahadur Rawal, chief of the Financial Information Unit of the ministry.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15649', 'image' => '20220901023041_1661985620.Clipboard20.jpg', 'article_date' => '2022-09-01 14:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15907', 'article_category_id' => '1', 'title' => 'Cash Withdrawn from Banks Starts Returning to the Banking System', 'sub_title' => '', 'summary' => 'September 1: Cash withdrawn from banks right from the beginning of the current fiscal year has started returning to the banking system.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 1: Cash withdrawn from banks right from the beginning of the current fiscal year has started returning to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the data of Nepal Bankers Association, the deposits of commercial banks declined continuously till the third week of August in the current fiscal year. However, there has been a slight improvement in deposit collection from the fourth week of August. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As of mid-July this year, the total deposits of banks stood at Rs 4541 billion, which dropped by Rs 116 billion to Rs 4425 billion by August 19. As informed by the association, the deposits of commercial banks increased by Rs 510 million between August 19 and 26.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive director of Nepal Rastra Bank, Dr. Gunakar Bhatt says that the bank deposits declined in July due to the payment made by the government to the contractors at the end of the last fiscal year but the amount is gradually returning from the market to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">With the beginning of the new fiscal year, banks have started investin in loans. Although credit disbursement of commercial banks declined in the third and fourth weeks of July, it started to increase from the first week of August.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Banks that disbursed loans of Rs 11 billion between mid-July to mid-August invested Rs 1.73 billion in the third week of August and Rs 1.30 billion in the fourth week.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As credit flow of banks have exceeded deposit collection, the pressure on the credit-deposit (CD) ratio of banks is increasing. According to the association, the average CD ratio of commercial banks on August 26 is 88.42 percent. In July, the CD ratio of three banks was above 90 percent and most of them were around 90 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB, banks must maintain the CD ratio within 90 percent from mid-July. Banks that are unable to maintain this ratio will be fined.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The data of NRB also shows an improvement in the deposits of banks and financial institutions in recent times. According to NRB, the total deposits in banks and financial institutions as of Sunday stood at Rs 5030 billion. By that time, they have invested Rs 4704 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15648', 'image' => '20220901014034_Banks.jpg', 'article_date' => '2022-09-01 13:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15905', 'article_category_id' => '1', 'title' => 'Night Heritage Tour to be Launched in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'September 1: Minister for Culture, Tourism and Civil Aviation, Jeevan Ram Shrestha, on Wednesday held consultation with bodies concerned regarding launching a night heritage tour in Kathmandu Valley. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 1: Minister for Culture, Tourism and Civil Aviation, Jeevan Ram Shrestha, on Wednesday held consultation with bodies concerned regarding launching a night heritage tour in Kathmandu Valley. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Shrestha expressed his belief that night heritage tour would help increase the number of tourists and their stay in Katmandu Valley. He said that the night heritage tour would help promote art, culture and heritages of Kathmandu Valley and also conserve the heritage sites. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The night heritage tour would be operated by making all preparations including collaboration between tourism entrepreneurs and locals, arrangement of lights, security as well as running local business till evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tourism entrepreneurs said the night view of historic heritage sites, temples, parks and stone spouts would be very attractive and mesmerizing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Representatives of local levels of Kathmandu Valley, hotel entrepreneurs, tourism entrepreneurs, police and representatives of local organisations were present during the discussion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Minister Shrestha's Secretariat, the proposed night heritage tour would help in economic prosperity of locals. Minister Shrestha has mentioned about operating night heritage tour in Kathmandu Valley in his tourism revival action plan as well. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15647', 'image' => '20220901112926_Nepal-Heritage-Tour-IV.jpg', 'article_date' => '2022-09-01 11:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15906', 'article_category_id' => '1', 'title' => 'NBAC to Organise Pitch Date on September 16', 'sub_title' => '', 'summary' => 'September 1: Nepal Business Angels Circle (NBAC) is all set to convene the Pitch Date with Angles on September 16.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 1: Nepal Business Angels Circle (NBAC) is all set to convene the Pitch Date with Angles on September 16, with an intent to assist early-stage startups to find investors for their ventures. NBAC is an angel network led by Investment Circle P Ltd. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NBAC, this event supports start-ups who are looking for seed/angel funding by assisting them to connect with angel investors, venture capitalists, and investors.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NBAC said in a statement that Investment Circle is facilitating them to provide access to early-stage investment and mentorship to promising startups. The event, Pitch Date with Angels, is one of NBAC’s flagship programs focused on bringing angel investors and startups together to discuss investment possibilities, the statement reads. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Angel investors, representatives of banks, investment companies, venture capitalists, and people who are interested to invest as an angel will be attending the event. Startups in their early stage of the venture will get an opportunity to connect with these investors, share their pitch and ask for seed/angel capital. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Investment Circle, this event is primarily tailored for startups to explore investment possibilities. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15646', 'image' => '20220901114209_Untitled.jpg', 'article_date' => '2022-09-01 11:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15904', 'article_category_id' => '1', 'title' => 'India’s PTC to Purchase 1200 MW of Electricity from West Seti and Seti River-6 Projects', 'sub_title' => '', 'summary' => 'September 1: India’s Power Trade Company (PTC) Limited is all set to purchase 1200 megawatts of electricity to be generated by the West Seti and Seti River-6 hydropower projects.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">September 1: India’s Power Trade Company (PTC) Limited is all set to purchase 1200 megawatts of electricity to be generated by the West Seti and Seti River-6 hydropower projects.</span></span> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">PTC, a state-owned company of India, has signed an agreement to purchase electricity from the two strategically important projects. Following the agreement, the projects have secured market for their energy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The reservoir-based West Seti Hydropower Project has the capacity to produce 750 MW of electricity while the Seti River-6 has the potential to produce 450 MW of energy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Both the projects are being developed by an Indian company NHPC.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NHPC’s Chairman and Managing Director (CMD) AK Singh and PTC India’s CMD Rajiv Kumar Mishra signed an agreement at the corporate office of NHPC in Faridabad during a recent ceremony for the purchase of electricity produced by the two projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has already granted permission to NHPC Limited to develop these two projects. The 52nd board meeting of the Investment Board of Nepal chaired by Prime Minister Sher Bahadur Deuba had recently decided to allow the company to conduct the feasibility study of the two projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Investment Board had signed an agreement to this effect with NHPC on August 18. As per the agreement, the Indian company will have to file an application seeking license for survey of West Seti Hydropower Project within 45 after signing the MoU and that of Seti River-6 within 6 months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The company will have to prepare the Detailed Project Report within two years after acquiring the survey license.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Preliminary studies have shown that West Seti Hydropower Project can generate up to 3.3 billion units of electricity annually while Seti River-6 project can produce 1.4 billion units of electricity per year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Seti River-6 project is being constructed 50 kilometers downstream of the West Seti project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The electricity produced from these two projects will be connected to the New Attariya Sub -Station in Kailali district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">PTC, which was established in 1999, is an Indian company run through public-private partnership. It is involved in cross-border electricity trade between Nepal, Bhutan and Bangladesh.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The estimated cost of West Seti project is said to be around Rs 168 billion while that of Seti River-6 is projected to cost Rs 101 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Read also: </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""><a href="https://www.newbusinessage.com/Articles/view/15824" style="color:#0563c1; text-decoration:underline">https://www.newbusinessage.com/Articles/view/15824</a></span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15645', 'image' => '20220901111241_1661932539.jpg', 'article_date' => '2022-09-01 11:11:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15903', 'article_category_id' => '1', 'title' => 'Kavre Section of Suryabinayak-Dhulikhel Road to be Expanded in Three Years ', 'sub_title' => '', 'summary' => 'August 31: The road from Sanga to Dhulikhel in Kavrepalanchowk is to be expanded in three years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The road from Sanga to Dhulikhel in Kavrepalanchowk is to be expanded in three years. This initiative is a part of the drive to widen the road from Suryabinayak to Dhulikhel along the Araniko Highway. </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 government has called for bids with an estimated cost of Rs 4.89 billion for the expansion of Sanga-Dhulikhel road. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In this connection, the Suryabinayak-Dhulikhel-Sindhuli-Bardibas road project has solicited bids. The project office has already prepared the Detail Project Report (DPR) for the expansion of the road section. As per the DPR, it requires Rs 9 billion for the expansion of Suryabinayak-Dhulikhel road. A separate bidding would be solicited for the construction and widening of the road from Sanga to Suryabinayak. </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"">Senior divisional engineer of the project Shambhu Prasad Acharya said the bidding was called for the expansion of Sanga-Dhulikhel road along the Kavrepalanchowk section under the Suryabinayak-Dhulikhel road widening drive as problem had surfaced in 1.5 to 2-km portion of road in Sanga. The Kavrepalanchowk section stretching from Sanga to Dhulikhel is around 10 kilometers. According to Acharya, the contract winner is obliged to complete the construction within three years and also should take up the responsibility for maintenance of the road for up to one year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bidding process would be completed in mid-September and contract signing would be held soon after. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the DPR, the contractor should construct a four-lane motorable road and service lane with two-meter foot path on both the sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya shared that the construction works would gain momentum from mid-October this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the project had issued a 35-day notice in July urging the owners to remove unauthorized structures from both sides of the highway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Roads had initiated the process to expand the road from Dhulikhel to Bhaktapur via Banepa some years ago taking into consideration huge traffic pressure. </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"">It has been learnt that the Department of Roads intensified preparation for the road expansion drive on its own using internal resources after the Japan International Cooperation Agency (JICA) pulled out of the project. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15644', 'image' => '20220831041752_dhulikhel.jpg', 'article_date' => '2022-08-31 16:17:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15902', 'article_category_id' => '1', 'title' => 'Cases of Dengue Fever on the Rise in Kathmandu Valley', 'sub_title' => '', 'summary' => 'August 31: The number of patients suffering from dengue fever has increased in the Kathmandu Valley in recent days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The number of patients suffering from dengue fever has increased in the Kathmandu Valley in recent days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of late, dengue cases have been mostly detected in Kathmandu, Lalitpur and Rupandehi districts in the country. Hospitals in these districts are busy attending patients who arrive for treatment of dengue.</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 mosquito-borne disease is transmitted by Aedes-aegypti and Aedes alobopictus mosquitoes. The mosquitoes of the species are active in the morning and evening and breed in clean-pooled water. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Spokesperson of Ministry of Health and Population Dr Sanjaya Kumar Thakur, the cases of dengue have increased in some cities since mid-July this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that 1,056 dengue patients were detected in Lalitpur, 377 in Rupandehi and 332 in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson Thakur said that dengue cases have increased because of unmanaged urbanization. He added that individual efforts would be effective rather than that of the government in the prevention and control of dengue outbreak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In critical cases of dengue, the white blood cell count goes down. Most of the cases are controlled through Cetamol tablet," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Consultant Physician at Shukraraj Tropical and Infectious Disease Hospital Dr Bimal Chalise shared that 90-105 patients are visiting the hospital daily for treatment. Among them 30-35 need hospitalization whereas 60-70 require emergency service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the patients, he said, are having the symptoms such as high fever, headache, body ache, loss of appetite, vomiting and diarrhea. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue was first detected in Nepal in the year 2004. Cases of dengue fever increased in 2006, 2010, 2012, 2013, 2017 and 2019. As many as 17,992 dengue-infected cases were found in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mosque-transmitted disease which was mostly found in Terai-Madhes has also been increasingly detected in mountainous cities, including Pokhara and Kathmandu since 2018. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15643', 'image' => '20220831034508_Kathmandu Valley.jpg', 'article_date' => '2022-08-31 15:44:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15901', 'article_category_id' => '1', 'title' => 'NCC Urges Ambassadors to Facilitate Trade and Investment', 'sub_title' => '', 'summary' => 'August 31: Nepal Chamber of Commerce has requested ambassadors appointed by the government as well as foreign envoys to facilitate in trade promotion and investment in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 31: Nepal Chamber of Commerce has requested ambassadors appointed by the government as well as foreign envoys to facilitate in trade promotion and investment in Nepal. The NCC made such appeal to the envoys during a recent meeting with the ambassadors in Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NCC President Rajendra Malla requested the newly appointed ambassador to South Korea, Jyoti Pyakurel to take initiatives in bringing in investment from Korea for economic prosperity. President Malla said that along with investment in Nepal, initiatives should also be taken to introduce high-level technology from Korea.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President Malla also drew the attention of Ambassador Pyakurel to facilitate in establishing Korean multinational companies in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During the meeting, Ambassador Pyakurel said that investment promotion and bilateral trade will be the first priority during her tenure. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“My main initiative will be to bring investment from South Korea, an important economic power of Asia, to Nepal,” said Pyakurel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the officials of the chamber requested the ambassador of Slovakia to Nepal to take initiative in promoting investment. President Malla requested the Ambassador of Slovakia to Nepal, Robert Maxian, to facilitate the export of Nepal's handicraft products, textiles, carpets, etc. to Slovakia. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President Malla asked Ambassador Maxian to facilitate investment in information technology and tourism sector as well. He also requested to help increase the number of tourists saying that currently around 5,000 tourists are coming to Nepal from Slovakia annually. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ambassador Maxian said that he is committed to expanding Slovakia's economic relations with Nepal. He said that he will be taking initiatives at the government level for the same.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15642', 'image' => '20220831033629_1661900271.Clipboard01.jpg', 'article_date' => '2022-08-31 15:35:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15900', 'article_category_id' => '1', 'title' => 'NRB Tightens the Noose on Payment through Prepaid Dollar Cards', 'sub_title' => '', 'summary' => 'August 31: Nepal Rastra Bank has tightened the noose on payment made through prepaid dollar cards. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 31: Nepal Rastra Bank has tightened the noose on payment made through prepaid dollar cards. The cards issued for facilitating online purchase of goods and services from abroad are being extensively used for making payments to online games, dating sites and donations to political and religious organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank on Tuesday instructed banks to disable payments through such cards for 17 types of Merchant Category Code (MCC).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank’s directive has banned the users from making payments through prepaid dollar cards under various headings including money transfer, payment of wallet amount, payment of insurance premium, payment of real estate agents’ fee, payment for various online games, use of online dating web and donations to political and religious organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Narayan Paudyal, deputy spokesperson of NRB, said that the central bank imposed restrictions in some areas to prevent investment in unproductive sector through such cards.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In March 2021, NRB had made arrangements for commercial banks and national-level development banks to issue such cards. A maximum of USD 500 or its equivalent amount in foreign currency can be transacted through the prepaid dollar card annually.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">More than 18,000 cards were issued in less than one year after the central bank gave permission to issue such cards. According to NRB, USD 1.8 million have been paid through 18,111 cards issued till mid-December 2021. NRB does not have the data about the cards issued since then and the payments made through those cards. Poudel said that there is no reliable data about this because a new department has been added to the NRB and that department will regulate it.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, as the foreign exchange reserves were declining, the NRB was monitoring the card payments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the purchase of online games packages and dating site services started using the cards, NRB decided to stop it.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Previously, there was a provision that goods and services that were not prohibited by law could be purchased online using the card. Such cards are also used to advertise on various social networking sites including Facebook, to purchase various goods online, and to pay fees for short-term courses and training.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the instructions of the central bank, it is not allowed to use the card for capital transactions and it is not possible to use the card to withdraw cash from ATMs, POS etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15641', 'image' => '20220831031448_Dollar-Payment-Nepal-702x459.jpg', 'article_date' => '2022-08-31 15:14:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15899', 'article_category_id' => '1', 'title' => 'Government Lifts Ban on Import of Six Items', 'sub_title' => '', 'summary' => 'August 31: The government has allowed the import of 6 out of the 10 items that were banned since April 26. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 31: The government has allowed the import of 6 out of the 10 items that were banned since April 26. The ban on import of the remaining four items on the other hand has been extended until October 14.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a notice in the Nepal Gazette on August 29, the Ministry of Industry, Commerce and Supplies extended the ban on the import of personal cars, jeeps, vans, etc other than ambulances as well as all types of readymade liquor except industrial raw materials, motorcycles with a capacity of more than 150 cc and smart phones worth more than USD 300.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The items on which the government lifted the ban include foods items like Lays and Kurkure, color televisions larger than 32 inches, playing cards, diamonds, cigarettes and tobacco products and all types of toys.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Industry, Commerce and Supplies had banned the import of those goods since April 26 to ease the pressure on foreign exchange reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The ministry, exercising the authority given by Sub-section 1 of Section 3 of the Export Import (Control) Act, 2013, had imposed a ban on the import of those 10 items. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, the objective of the ban was to protect the country's external financial position and balance of payments by preventing a serious decline in foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the pressure on the foreign exchange reserves declined, the government lifted the restrictions on import. Last week, the customs department announced that the country's trade deficit decreased by 10 percent in the first month of the current fiscal year compared to the corresponding period of last FY.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The foreign exchange reserves also increased in mid-July compared to last mid-April. By mid-April, Nepal had foreign exchange reserves equal to Rs 1167.92 billion. According to Nepal Rastra Bank, this will cover the import of goods and services for 6.9 months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government decided to ban imports only after the foreign exchange reserves had declined and reached that level. The policy of discouraging imports was taken by the government since November.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, as the Covid-19 pandemic has largely subsided and the tourist season is about to start, the government decided to lift the ban on import of 6 items as it is the right time of earning foreign currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government started tightening imports since last November. Initially, NRB, the government's economic advisor and financial sector regulator, set a limit on the foreign exchange rate for import of silver. In January, arrangements were made for 50 and 100 percent cash margin while opening LC for the import of luxury goods. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there were no signs of decline in imports, the NRB officials in the second week of April issued verbal order to the chief executive officers of commercial banks instructing them not to open LCs for the import of vehicles for private purposes. Eventually, as a last resort, a formal ban was imposed on the import of luxury items.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The importers have been claiming that despite the ban imposed by the government, the import of goods other than four-wheelers and two-wheelers, which can be driven only after registration, has continued unabated through illegal channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Madan Mittal, the former secretary general of Foreign Trade Association says that banning the import of goods other than vehicles and large machinery tools gave smugglers an opportunity to take advantage of this situation. He says that because the southern border is open, smuggling cannot be stopped and claimed that imported items are easily found in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former State Minister for Industry, Commerce and Supplies Moti Lal Dugar while addressing the opening session of the 42nd Annual General Meeting of the association last Friday also raised a question for the incumbent Industry Minister about the justification of the ban saying that the goods banned from import are coming unhindered through illegal channels.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Nepal Liquor Importers Association has been claiming that illegal import has increased after the ban on imports through formal channel. Liquor importers say that if alcohol is bought directly from the producer one has to pay US$ 15 per liter. However, if it is bought from India, one has to pay US$ 41 per liter.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15640', 'image' => '20220831021421_import.jpg', 'article_date' => '2022-08-31 14:12:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15898', 'article_category_id' => '1', 'title' => 'Nepal Hospitality Conclave in September', 'sub_title' => '', 'summary' => 'August 31: The 'Nepal Hospitality Conclave – 2022,' which was postponed due to Covid-19, is all set to be held from September 24 to 25.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 31: The 'Nepal Hospitality Conclave – 2022,' which was postponed due to Covid-19, is all set to be held from September 24 to 25. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hotel Association Nepal (HAN) is preparing to organize this conclave with a plan to discuss the pros and cons of bringing international chain brands to Nepal. During the two-day event, stakeholders will also discuss internal and external marketing strategies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">HAN informed that the two-day conclave will be organized in Kathmandu with the participation of local and foreign tourism experts. HAN expects to draw the attention of the government which still lacks understanding about the hospitality business</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a press conference organized by HAN in Kathmandu on Monday, its President Shreejana Rana said that they are going to hold a comprehensive program to uplift the tourism sector after Covid and decide the future strategy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to her, there will be a detailed discussion on the benefits of bringing foreign chain brands to Nepal. The event will be attended by high-ranking officials from different countries, tourism experts from the country, and officials from relevant government agencies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She said that there will be a panel discussion on the benefits of bringing chain hotels, marketing, women entrepreneurs, policy problems with the government, , and environmental issues. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">For the last few years, hoteliers have been introducing international chain brands in Nepal. New chain brands like Sheraton, Hilton, Marriott as well as old brands like Hyatt and Radisson are operating in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepalese businessmen are trying to introduce other new chain brands as well. Rana said that a session has been fixed to discuss the benefits of internationally renowned brands coming to Nepal and the benefits it will bring to the marketing of Nepal's tourism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sajan Shakya, general secretary of HAN, said that it is not certain from which countries the participants will come in the conclave. However, he says that experts in the field of hospitality will come from 5/6 countries to attend the conclave. Shakya said that the main objective is to provide the government with detailed information about the tourism and hospitality sector and to promote tourism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The tourism industry, which has been heavily affected by the coronavirus pandemic, is returning back to normalcy since 2022. The organizers believe that the thematic discussion during the conclave will help in making future decisions and also form strategies for tourism promotion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the government’s ambiguous policy, standard of hotels, the role of women entrepreneurs in HR and the positive effects of using environment-friendly plastic will also be discussed during the program. The conclave was initially scheduled for July but was postponed until September.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15639', 'image' => '20220831010805_hospitality.jpg', 'article_date' => '2022-08-31 13:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15897', 'article_category_id' => '1', 'title' => 'Furniture Fair to Kick off in Kathmandu on September 8', 'sub_title' => '', 'summary' => 'August 31: The Furniture and Furnishing Association of Nepal is all set to organize a furniture fair at Bhrikutimandap in Kathmandu from September 8 to 12. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The Furniture and Furnishing Association of Nepal is all set to organize a furniture fair at Bhrikutimandap in Kathmandu from September 8 to 12. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Furniture and Furnishing Association, the event is being held in collaboration with the Federation of Handicraft Association of Nepal, IDEA Nepal and Space Magazine. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The expo will feature various furniture products of companies from countries including Nepal, India, Bangladesh and Pakistan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Furnishings materials related to kitchen, bedroom, bathroom, outdoor and interior designing as well as carpet and marble will be put on display,” the association’s President Shuvendra Joshi told the state-owned national news agency RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Joshi, the annual transaction of furniture business in Nepal is worth around Rs 60 billion of which 50 percent products are imported from foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisers have set an entrance fees of Rs 100 per person. </span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15638', 'image' => '20220831114914_deal-1.jpg', 'article_date' => '2022-08-31 11:48:35', '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' => '15912', 'article_category_id' => '1', 'title' => 'NOC Hikes Prices of Diesel and Kerosene by Six Rupees Per Litre', 'sub_title' => '', 'summary' => 'September 2: Nepal Oil Corporation (NOC) has increased the price of diesel and kerosene by Rs 6 per litre. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 2: Nepal Oil Corporation (NOC) has increased the price of diesel and kerosene by Rs 6 per litre. The state-owned oil supplier informed that it increased the prices of diesel and kerosene after receiving a revised list of prices of petroleum products from the Indian Oil Corporation (IOC). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new list, the prices of petrol, diesel and kerosene has increased but the NOC has decided not to increase the price of petrol.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A board meeting of NOC on Thursday decided to increase the prices of diesel and kerosene effective from today (September 2). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NOC, the new price of diesel and kerosene has been fixed at Rs 178 per litre. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prices of aviation turbine fuel (ATF) and liquefied petroleum gas (LPG) remains unchanged at Rs 190 per litre and Rs 1800 per cylinder respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the price of petrol also remains stable at Rs 181 per litre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NOC, it is making a profit of Rs 2.82 from a litre of petrol while it has to incur a fortnightly loss of Rs 482.4 million for selling diesel and LPG.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the revised list received from IOC on Thursday, the price of petrol has increased by Rs 1.39 while the prices of diesel and aviation fuel have been increased by Rs 6.12 and Rs 8.1 respectively. On the other hand, IOC has slashed the price of kerosene and LPG.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-02', 'modified' => '2022-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '15653', 'image' => '20220902094017_Petrol-Price-Increase.jpg', 'article_date' => '2022-09-02 09:39:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15911', 'article_category_id' => '1', 'title' => 'Traffic Police Bans Use of Mobile Phone Holders in Motorbikes', 'sub_title' => '', 'summary' => 'September 1: The traffic police has banned mobile phone holders installed by motorbike riders for using ride-sharing apps.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">September 1: The traffic police has banned mobile phone holders installed by motorbike riders for using ride-sharing apps.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The police have launched a campaign to take action against such riders after it caused several accidents.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the police, installation of accessories other than the inbuilt accessories provided by the motorcycle company is considered as modified objects which is illegal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The police have started imposing fines after the drivers refused to remove such objects even after they were verbally told to remove the holders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The traffic police is planning to impose a fine of Rs 5,000 to 20,000 after a few days.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The traffic police argue that the risk of accidents has increased as the riders were found keeping the mobile phone on the holder and driving without paying proper attention.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Some of the ride-sharing apps such as Pathao, Tootle, InDriver, Super App, Saathi and others are currently operating in Nepal. They have millions of riders and around 10 million ride sharing users.</span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15652', 'image' => '20220901062224_e75fe18d73336fbde32ec37470eb58f2.jpg', 'article_date' => '2022-09-01 18:21:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15910', 'article_category_id' => '1', 'title' => 'Experts Recommend Innovative Ideas to Improve Women’s Access to Finance', 'sub_title' => '', 'summary' => 'September 1: Daayitwa, a non-profit, non-governmental organization that envisions an enterprising Nepal where every individual has opportunities for a prosperous future, organized the fourth policy dialogue of the ECON Talks Series on “Boosting access to financial investment for women-led enterprises” on Monday, August 29.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">September 1: Daayitwa, a non-profit, non-governmental organization that envisions an enterprising Nepal where every individual has opportunities for a prosperous future, organized the fourth policy dialogue of the ECON Talks Series on “Boosting access to financial investment for women-led enterprises” on Monday, August 29.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The panel discussion was attended by Nepal Rastra Bank’s Executive Director Dr Gunakar Bhatta, finance expert Monisha Shrestha, FWEAN First Vice President Shova Gyawali and Executive Director of One to Watch Suman Joshi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the discussion was held to support the policymakers and policy implementers to come up with pragmatic and effective models and schemes with a rich and diverse set of knowledge from the panelists. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The panel recommended innovative alternatives like psychometric scoring, digital footprint of loan applicants to establish credit guarantee schemes in order to improve women’s access to finance, reads a statement issued by Daayitwa.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">While inaugurating the event, Executive Director of Daayitwa, Susit Dhakal remarked that sustainable economic growth of the nation is impossible without women’s economic empowerment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“However, women-led enterprises, while resolutely promoting national income, employment and identity, are facing myriad investment challenges,” he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> Dhakal said that the conclusion and recommendations derived from the dialogue will support the policymakers and policy implementers for suitable parliamentary actions to boost women’s access to financial investment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The challenges faced by women entrepreneurs in Nepal, lack of policies and programmes focused on rural MSMEs, unnecessary rules and regulations based on societal gender stereotypes discouraging women entrepreneurs, complicated documentation processes in banking and financial institutions (BFIs), lack of coordination between government agencies and BFIs, ineffective communication on existing loan and investment schemes, and language barriers to reach rural women entrepreneurs, alternative credit guarantee schemes, etc. were the major issues discussed in the dialogue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Addressing the event, MP Chanda Chaudhary reiterated the importance of effective implementation and monitoring of the existing policies and programs to ensure women’s access to investment and to accelerate women entrepreneurship in Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“It is very necessary for the government as well as the financial institutions to create a favorable environment for women entrepreneurs to take loans, invest in their innovative ideas and upgrade their enterprises,” said Chaudhary.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Joint Secretary of the Ministry of Industry, Commerce and Supplies, Radhika Aryal emphasized on the three key points for entrepreneurship development of women. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“We already have a few good policies and programmes focused on women entrepreneurs and women-led enterprises. But we are lagging on the implementation part. To increase women’s access to financial investment, the relevant credit and loan schemes need to be communicated well to the women especially those from the rural areas,” said Aryal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">She stressed on the need to simplify the process to access those schemes and that there should be good coordination between the government and BFIs.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15651', 'image' => '20220901043337_2.jpg', 'article_date' => '2022-09-01 16:32:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15908', 'article_category_id' => '1', 'title' => 'Nepal under Risk of Falling in Grey Area in Anti-Money Laundering Drive', 'sub_title' => '', 'summary' => 'September 1: Stakeholders have expressed concern that Nepal might fall in the grey area in terms of anti-money laundering efforts.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 1: Stakeholders have expressed concern that Nepal might fall in the grey area in terms of anti-money laundering efforts. They argue that the country is likely to fall in the grey area during next year’s evaluation by international observers because of the failure of the government to amend and implement the laws needed for anti-money laundering drive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a meeting of the Finance Committee of the House of Representatives on the topic of anti-money laundering efforts in the international level and Nepal’s stance, Governor of Nepal Rastra Bank Maha Prasad Adhikari on Tuesday told the lawmakers that the legislature parliament endorses laws but the implementation part is weak in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The parliament passes necessary laws but we are weak in implementing the laws,” said Adhikari, adding, “The evaluation team can make an on-site visit and learn about the laws and their implementation. Therefore, we need to focus on this issue.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Financial Action Task Force (FATF) is the international body responsible to oversee activities related to money laundering and financing terrorism. The Asia Pacific Group on Money Laundering under the FATF will monitor the anti-money laundering efforts of Nepal next year. It was supposed to evaluate Nepal’s position in 2020 but the schedule was postponed due to the Covid-19 pandemic upon Nepal’s request.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Governor Adhikari warned that Nepal might fall in the grey area as the parliament has passed 15 acts related to anti-money laundering effort but the implementation of those laws is weak. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">When Nepal was listed in the grey area in 2010, the country faced problems in opening bank accounts in American banks. Adhikari says that it will be difficult for the country to deal with international transactions if it falls in the grey area once again. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After it was listed in the grey area in 2010, Nepal pledged to curb money laundering activities and also promised to amend related laws. Following its commitment, the international body removed Nepal from the grey list in 2014. However, Nepal has not been able to formulate laws as per its commitment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Law Secretary at the Prime Minister’s Office Dhanraj Gyawali admits that the country has not been able to amend laws as per the instructions of FATF. Nepal needs to amend 15 different laws related to money laundering in the next one month if it is to avoid falling in the grey area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gyawali said that the prime minister has been requested to take initiatives to amend those laws as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Secretary at the Ministry of Law Udaya Raj Sapkota said that the country needs to move on to plastic economy from cash economy in order to curb money laundering. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Corruption, tax evasion, financial crime and hundi business pose high risk to the government’s efforts in curbing money laundering, says Dirgha Bahadur Rawal, chief of the Financial Information Unit of the ministry.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15649', 'image' => '20220901023041_1661985620.Clipboard20.jpg', 'article_date' => '2022-09-01 14:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15907', 'article_category_id' => '1', 'title' => 'Cash Withdrawn from Banks Starts Returning to the Banking System', 'sub_title' => '', 'summary' => 'September 1: Cash withdrawn from banks right from the beginning of the current fiscal year has started returning to the banking system.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 1: Cash withdrawn from banks right from the beginning of the current fiscal year has started returning to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the data of Nepal Bankers Association, the deposits of commercial banks declined continuously till the third week of August in the current fiscal year. However, there has been a slight improvement in deposit collection from the fourth week of August. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As of mid-July this year, the total deposits of banks stood at Rs 4541 billion, which dropped by Rs 116 billion to Rs 4425 billion by August 19. As informed by the association, the deposits of commercial banks increased by Rs 510 million between August 19 and 26.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive director of Nepal Rastra Bank, Dr. Gunakar Bhatt says that the bank deposits declined in July due to the payment made by the government to the contractors at the end of the last fiscal year but the amount is gradually returning from the market to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">With the beginning of the new fiscal year, banks have started investin in loans. Although credit disbursement of commercial banks declined in the third and fourth weeks of July, it started to increase from the first week of August.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Banks that disbursed loans of Rs 11 billion between mid-July to mid-August invested Rs 1.73 billion in the third week of August and Rs 1.30 billion in the fourth week.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As credit flow of banks have exceeded deposit collection, the pressure on the credit-deposit (CD) ratio of banks is increasing. According to the association, the average CD ratio of commercial banks on August 26 is 88.42 percent. In July, the CD ratio of three banks was above 90 percent and most of them were around 90 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB, banks must maintain the CD ratio within 90 percent from mid-July. Banks that are unable to maintain this ratio will be fined.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The data of NRB also shows an improvement in the deposits of banks and financial institutions in recent times. According to NRB, the total deposits in banks and financial institutions as of Sunday stood at Rs 5030 billion. By that time, they have invested Rs 4704 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15648', 'image' => '20220901014034_Banks.jpg', 'article_date' => '2022-09-01 13:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15905', 'article_category_id' => '1', 'title' => 'Night Heritage Tour to be Launched in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'September 1: Minister for Culture, Tourism and Civil Aviation, Jeevan Ram Shrestha, on Wednesday held consultation with bodies concerned regarding launching a night heritage tour in Kathmandu Valley. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 1: Minister for Culture, Tourism and Civil Aviation, Jeevan Ram Shrestha, on Wednesday held consultation with bodies concerned regarding launching a night heritage tour in Kathmandu Valley. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Shrestha expressed his belief that night heritage tour would help increase the number of tourists and their stay in Katmandu Valley. He said that the night heritage tour would help promote art, culture and heritages of Kathmandu Valley and also conserve the heritage sites. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The night heritage tour would be operated by making all preparations including collaboration between tourism entrepreneurs and locals, arrangement of lights, security as well as running local business till evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tourism entrepreneurs said the night view of historic heritage sites, temples, parks and stone spouts would be very attractive and mesmerizing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Representatives of local levels of Kathmandu Valley, hotel entrepreneurs, tourism entrepreneurs, police and representatives of local organisations were present during the discussion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Minister Shrestha's Secretariat, the proposed night heritage tour would help in economic prosperity of locals. Minister Shrestha has mentioned about operating night heritage tour in Kathmandu Valley in his tourism revival action plan as well. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15647', 'image' => '20220901112926_Nepal-Heritage-Tour-IV.jpg', 'article_date' => '2022-09-01 11:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15906', 'article_category_id' => '1', 'title' => 'NBAC to Organise Pitch Date on September 16', 'sub_title' => '', 'summary' => 'September 1: Nepal Business Angels Circle (NBAC) is all set to convene the Pitch Date with Angles on September 16.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 1: Nepal Business Angels Circle (NBAC) is all set to convene the Pitch Date with Angles on September 16, with an intent to assist early-stage startups to find investors for their ventures. NBAC is an angel network led by Investment Circle P Ltd. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NBAC, this event supports start-ups who are looking for seed/angel funding by assisting them to connect with angel investors, venture capitalists, and investors.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NBAC said in a statement that Investment Circle is facilitating them to provide access to early-stage investment and mentorship to promising startups. The event, Pitch Date with Angels, is one of NBAC’s flagship programs focused on bringing angel investors and startups together to discuss investment possibilities, the statement reads. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Angel investors, representatives of banks, investment companies, venture capitalists, and people who are interested to invest as an angel will be attending the event. Startups in their early stage of the venture will get an opportunity to connect with these investors, share their pitch and ask for seed/angel capital. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Investment Circle, this event is primarily tailored for startups to explore investment possibilities. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15646', 'image' => '20220901114209_Untitled.jpg', 'article_date' => '2022-09-01 11:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15904', 'article_category_id' => '1', 'title' => 'India’s PTC to Purchase 1200 MW of Electricity from West Seti and Seti River-6 Projects', 'sub_title' => '', 'summary' => 'September 1: India’s Power Trade Company (PTC) Limited is all set to purchase 1200 megawatts of electricity to be generated by the West Seti and Seti River-6 hydropower projects.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">September 1: India’s Power Trade Company (PTC) Limited is all set to purchase 1200 megawatts of electricity to be generated by the West Seti and Seti River-6 hydropower projects.</span></span> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">PTC, a state-owned company of India, has signed an agreement to purchase electricity from the two strategically important projects. Following the agreement, the projects have secured market for their energy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The reservoir-based West Seti Hydropower Project has the capacity to produce 750 MW of electricity while the Seti River-6 has the potential to produce 450 MW of energy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Both the projects are being developed by an Indian company NHPC.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NHPC’s Chairman and Managing Director (CMD) AK Singh and PTC India’s CMD Rajiv Kumar Mishra signed an agreement at the corporate office of NHPC in Faridabad during a recent ceremony for the purchase of electricity produced by the two projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has already granted permission to NHPC Limited to develop these two projects. The 52nd board meeting of the Investment Board of Nepal chaired by Prime Minister Sher Bahadur Deuba had recently decided to allow the company to conduct the feasibility study of the two projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Investment Board had signed an agreement to this effect with NHPC on August 18. As per the agreement, the Indian company will have to file an application seeking license for survey of West Seti Hydropower Project within 45 after signing the MoU and that of Seti River-6 within 6 months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The company will have to prepare the Detailed Project Report within two years after acquiring the survey license.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Preliminary studies have shown that West Seti Hydropower Project can generate up to 3.3 billion units of electricity annually while Seti River-6 project can produce 1.4 billion units of electricity per year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Seti River-6 project is being constructed 50 kilometers downstream of the West Seti project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The electricity produced from these two projects will be connected to the New Attariya Sub -Station in Kailali district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">PTC, which was established in 1999, is an Indian company run through public-private partnership. It is involved in cross-border electricity trade between Nepal, Bhutan and Bangladesh.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The estimated cost of West Seti project is said to be around Rs 168 billion while that of Seti River-6 is projected to cost Rs 101 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Read also: </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""><a href="https://www.newbusinessage.com/Articles/view/15824" style="color:#0563c1; text-decoration:underline">https://www.newbusinessage.com/Articles/view/15824</a></span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15645', 'image' => '20220901111241_1661932539.jpg', 'article_date' => '2022-09-01 11:11:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15903', 'article_category_id' => '1', 'title' => 'Kavre Section of Suryabinayak-Dhulikhel Road to be Expanded in Three Years ', 'sub_title' => '', 'summary' => 'August 31: The road from Sanga to Dhulikhel in Kavrepalanchowk is to be expanded in three years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The road from Sanga to Dhulikhel in Kavrepalanchowk is to be expanded in three years. This initiative is a part of the drive to widen the road from Suryabinayak to Dhulikhel along the Araniko Highway. </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 government has called for bids with an estimated cost of Rs 4.89 billion for the expansion of Sanga-Dhulikhel road. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In this connection, the Suryabinayak-Dhulikhel-Sindhuli-Bardibas road project has solicited bids. The project office has already prepared the Detail Project Report (DPR) for the expansion of the road section. As per the DPR, it requires Rs 9 billion for the expansion of Suryabinayak-Dhulikhel road. A separate bidding would be solicited for the construction and widening of the road from Sanga to Suryabinayak. </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"">Senior divisional engineer of the project Shambhu Prasad Acharya said the bidding was called for the expansion of Sanga-Dhulikhel road along the Kavrepalanchowk section under the Suryabinayak-Dhulikhel road widening drive as problem had surfaced in 1.5 to 2-km portion of road in Sanga. The Kavrepalanchowk section stretching from Sanga to Dhulikhel is around 10 kilometers. According to Acharya, the contract winner is obliged to complete the construction within three years and also should take up the responsibility for maintenance of the road for up to one year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bidding process would be completed in mid-September and contract signing would be held soon after. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the DPR, the contractor should construct a four-lane motorable road and service lane with two-meter foot path on both the sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya shared that the construction works would gain momentum from mid-October this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the project had issued a 35-day notice in July urging the owners to remove unauthorized structures from both sides of the highway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Roads had initiated the process to expand the road from Dhulikhel to Bhaktapur via Banepa some years ago taking into consideration huge traffic pressure. </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"">It has been learnt that the Department of Roads intensified preparation for the road expansion drive on its own using internal resources after the Japan International Cooperation Agency (JICA) pulled out of the project. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15644', 'image' => '20220831041752_dhulikhel.jpg', 'article_date' => '2022-08-31 16:17:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15902', 'article_category_id' => '1', 'title' => 'Cases of Dengue Fever on the Rise in Kathmandu Valley', 'sub_title' => '', 'summary' => 'August 31: The number of patients suffering from dengue fever has increased in the Kathmandu Valley in recent days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The number of patients suffering from dengue fever has increased in the Kathmandu Valley in recent days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of late, dengue cases have been mostly detected in Kathmandu, Lalitpur and Rupandehi districts in the country. Hospitals in these districts are busy attending patients who arrive for treatment of dengue.</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 mosquito-borne disease is transmitted by Aedes-aegypti and Aedes alobopictus mosquitoes. The mosquitoes of the species are active in the morning and evening and breed in clean-pooled water. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Spokesperson of Ministry of Health and Population Dr Sanjaya Kumar Thakur, the cases of dengue have increased in some cities since mid-July this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that 1,056 dengue patients were detected in Lalitpur, 377 in Rupandehi and 332 in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson Thakur said that dengue cases have increased because of unmanaged urbanization. He added that individual efforts would be effective rather than that of the government in the prevention and control of dengue outbreak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In critical cases of dengue, the white blood cell count goes down. Most of the cases are controlled through Cetamol tablet," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Consultant Physician at Shukraraj Tropical and Infectious Disease Hospital Dr Bimal Chalise shared that 90-105 patients are visiting the hospital daily for treatment. Among them 30-35 need hospitalization whereas 60-70 require emergency service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the patients, he said, are having the symptoms such as high fever, headache, body ache, loss of appetite, vomiting and diarrhea. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue was first detected in Nepal in the year 2004. Cases of dengue fever increased in 2006, 2010, 2012, 2013, 2017 and 2019. As many as 17,992 dengue-infected cases were found in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mosque-transmitted disease which was mostly found in Terai-Madhes has also been increasingly detected in mountainous cities, including Pokhara and Kathmandu since 2018. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15643', 'image' => '20220831034508_Kathmandu Valley.jpg', 'article_date' => '2022-08-31 15:44:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15901', 'article_category_id' => '1', 'title' => 'NCC Urges Ambassadors to Facilitate Trade and Investment', 'sub_title' => '', 'summary' => 'August 31: Nepal Chamber of Commerce has requested ambassadors appointed by the government as well as foreign envoys to facilitate in trade promotion and investment in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 31: Nepal Chamber of Commerce has requested ambassadors appointed by the government as well as foreign envoys to facilitate in trade promotion and investment in Nepal. The NCC made such appeal to the envoys during a recent meeting with the ambassadors in Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NCC President Rajendra Malla requested the newly appointed ambassador to South Korea, Jyoti Pyakurel to take initiatives in bringing in investment from Korea for economic prosperity. President Malla said that along with investment in Nepal, initiatives should also be taken to introduce high-level technology from Korea.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President Malla also drew the attention of Ambassador Pyakurel to facilitate in establishing Korean multinational companies in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During the meeting, Ambassador Pyakurel said that investment promotion and bilateral trade will be the first priority during her tenure. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“My main initiative will be to bring investment from South Korea, an important economic power of Asia, to Nepal,” said Pyakurel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the officials of the chamber requested the ambassador of Slovakia to Nepal to take initiative in promoting investment. President Malla requested the Ambassador of Slovakia to Nepal, Robert Maxian, to facilitate the export of Nepal's handicraft products, textiles, carpets, etc. to Slovakia. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President Malla asked Ambassador Maxian to facilitate investment in information technology and tourism sector as well. He also requested to help increase the number of tourists saying that currently around 5,000 tourists are coming to Nepal from Slovakia annually. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ambassador Maxian said that he is committed to expanding Slovakia's economic relations with Nepal. He said that he will be taking initiatives at the government level for the same.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15642', 'image' => '20220831033629_1661900271.Clipboard01.jpg', 'article_date' => '2022-08-31 15:35:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15900', 'article_category_id' => '1', 'title' => 'NRB Tightens the Noose on Payment through Prepaid Dollar Cards', 'sub_title' => '', 'summary' => 'August 31: Nepal Rastra Bank has tightened the noose on payment made through prepaid dollar cards. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 31: Nepal Rastra Bank has tightened the noose on payment made through prepaid dollar cards. The cards issued for facilitating online purchase of goods and services from abroad are being extensively used for making payments to online games, dating sites and donations to political and religious organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank on Tuesday instructed banks to disable payments through such cards for 17 types of Merchant Category Code (MCC).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank’s directive has banned the users from making payments through prepaid dollar cards under various headings including money transfer, payment of wallet amount, payment of insurance premium, payment of real estate agents’ fee, payment for various online games, use of online dating web and donations to political and religious organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Narayan Paudyal, deputy spokesperson of NRB, said that the central bank imposed restrictions in some areas to prevent investment in unproductive sector through such cards.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In March 2021, NRB had made arrangements for commercial banks and national-level development banks to issue such cards. A maximum of USD 500 or its equivalent amount in foreign currency can be transacted through the prepaid dollar card annually.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">More than 18,000 cards were issued in less than one year after the central bank gave permission to issue such cards. According to NRB, USD 1.8 million have been paid through 18,111 cards issued till mid-December 2021. NRB does not have the data about the cards issued since then and the payments made through those cards. Poudel said that there is no reliable data about this because a new department has been added to the NRB and that department will regulate it.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, as the foreign exchange reserves were declining, the NRB was monitoring the card payments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the purchase of online games packages and dating site services started using the cards, NRB decided to stop it.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Previously, there was a provision that goods and services that were not prohibited by law could be purchased online using the card. Such cards are also used to advertise on various social networking sites including Facebook, to purchase various goods online, and to pay fees for short-term courses and training.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the instructions of the central bank, it is not allowed to use the card for capital transactions and it is not possible to use the card to withdraw cash from ATMs, POS etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15641', 'image' => '20220831031448_Dollar-Payment-Nepal-702x459.jpg', 'article_date' => '2022-08-31 15:14:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15899', 'article_category_id' => '1', 'title' => 'Government Lifts Ban on Import of Six Items', 'sub_title' => '', 'summary' => 'August 31: The government has allowed the import of 6 out of the 10 items that were banned since April 26. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 31: The government has allowed the import of 6 out of the 10 items that were banned since April 26. The ban on import of the remaining four items on the other hand has been extended until October 14.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a notice in the Nepal Gazette on August 29, the Ministry of Industry, Commerce and Supplies extended the ban on the import of personal cars, jeeps, vans, etc other than ambulances as well as all types of readymade liquor except industrial raw materials, motorcycles with a capacity of more than 150 cc and smart phones worth more than USD 300.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The items on which the government lifted the ban include foods items like Lays and Kurkure, color televisions larger than 32 inches, playing cards, diamonds, cigarettes and tobacco products and all types of toys.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Industry, Commerce and Supplies had banned the import of those goods since April 26 to ease the pressure on foreign exchange reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The ministry, exercising the authority given by Sub-section 1 of Section 3 of the Export Import (Control) Act, 2013, had imposed a ban on the import of those 10 items. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, the objective of the ban was to protect the country's external financial position and balance of payments by preventing a serious decline in foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the pressure on the foreign exchange reserves declined, the government lifted the restrictions on import. Last week, the customs department announced that the country's trade deficit decreased by 10 percent in the first month of the current fiscal year compared to the corresponding period of last FY.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The foreign exchange reserves also increased in mid-July compared to last mid-April. By mid-April, Nepal had foreign exchange reserves equal to Rs 1167.92 billion. According to Nepal Rastra Bank, this will cover the import of goods and services for 6.9 months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government decided to ban imports only after the foreign exchange reserves had declined and reached that level. The policy of discouraging imports was taken by the government since November.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, as the Covid-19 pandemic has largely subsided and the tourist season is about to start, the government decided to lift the ban on import of 6 items as it is the right time of earning foreign currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government started tightening imports since last November. Initially, NRB, the government's economic advisor and financial sector regulator, set a limit on the foreign exchange rate for import of silver. In January, arrangements were made for 50 and 100 percent cash margin while opening LC for the import of luxury goods. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there were no signs of decline in imports, the NRB officials in the second week of April issued verbal order to the chief executive officers of commercial banks instructing them not to open LCs for the import of vehicles for private purposes. Eventually, as a last resort, a formal ban was imposed on the import of luxury items.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The importers have been claiming that despite the ban imposed by the government, the import of goods other than four-wheelers and two-wheelers, which can be driven only after registration, has continued unabated through illegal channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Madan Mittal, the former secretary general of Foreign Trade Association says that banning the import of goods other than vehicles and large machinery tools gave smugglers an opportunity to take advantage of this situation. He says that because the southern border is open, smuggling cannot be stopped and claimed that imported items are easily found in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former State Minister for Industry, Commerce and Supplies Moti Lal Dugar while addressing the opening session of the 42nd Annual General Meeting of the association last Friday also raised a question for the incumbent Industry Minister about the justification of the ban saying that the goods banned from import are coming unhindered through illegal channels.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Nepal Liquor Importers Association has been claiming that illegal import has increased after the ban on imports through formal channel. Liquor importers say that if alcohol is bought directly from the producer one has to pay US$ 15 per liter. However, if it is bought from India, one has to pay US$ 41 per liter.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15640', 'image' => '20220831021421_import.jpg', 'article_date' => '2022-08-31 14:12:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15898', 'article_category_id' => '1', 'title' => 'Nepal Hospitality Conclave in September', 'sub_title' => '', 'summary' => 'August 31: The 'Nepal Hospitality Conclave – 2022,' which was postponed due to Covid-19, is all set to be held from September 24 to 25.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 31: The 'Nepal Hospitality Conclave – 2022,' which was postponed due to Covid-19, is all set to be held from September 24 to 25. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hotel Association Nepal (HAN) is preparing to organize this conclave with a plan to discuss the pros and cons of bringing international chain brands to Nepal. During the two-day event, stakeholders will also discuss internal and external marketing strategies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">HAN informed that the two-day conclave will be organized in Kathmandu with the participation of local and foreign tourism experts. HAN expects to draw the attention of the government which still lacks understanding about the hospitality business</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a press conference organized by HAN in Kathmandu on Monday, its President Shreejana Rana said that they are going to hold a comprehensive program to uplift the tourism sector after Covid and decide the future strategy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to her, there will be a detailed discussion on the benefits of bringing foreign chain brands to Nepal. The event will be attended by high-ranking officials from different countries, tourism experts from the country, and officials from relevant government agencies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She said that there will be a panel discussion on the benefits of bringing chain hotels, marketing, women entrepreneurs, policy problems with the government, , and environmental issues. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">For the last few years, hoteliers have been introducing international chain brands in Nepal. New chain brands like Sheraton, Hilton, Marriott as well as old brands like Hyatt and Radisson are operating in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepalese businessmen are trying to introduce other new chain brands as well. Rana said that a session has been fixed to discuss the benefits of internationally renowned brands coming to Nepal and the benefits it will bring to the marketing of Nepal's tourism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sajan Shakya, general secretary of HAN, said that it is not certain from which countries the participants will come in the conclave. However, he says that experts in the field of hospitality will come from 5/6 countries to attend the conclave. Shakya said that the main objective is to provide the government with detailed information about the tourism and hospitality sector and to promote tourism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The tourism industry, which has been heavily affected by the coronavirus pandemic, is returning back to normalcy since 2022. The organizers believe that the thematic discussion during the conclave will help in making future decisions and also form strategies for tourism promotion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the government’s ambiguous policy, standard of hotels, the role of women entrepreneurs in HR and the positive effects of using environment-friendly plastic will also be discussed during the program. The conclave was initially scheduled for July but was postponed until September.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15639', 'image' => '20220831010805_hospitality.jpg', 'article_date' => '2022-08-31 13:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15897', 'article_category_id' => '1', 'title' => 'Furniture Fair to Kick off in Kathmandu on September 8', 'sub_title' => '', 'summary' => 'August 31: The Furniture and Furnishing Association of Nepal is all set to organize a furniture fair at Bhrikutimandap in Kathmandu from September 8 to 12. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The Furniture and Furnishing Association of Nepal is all set to organize a furniture fair at Bhrikutimandap in Kathmandu from September 8 to 12. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Furniture and Furnishing Association, the event is being held in collaboration with the Federation of Handicraft Association of Nepal, IDEA Nepal and Space Magazine. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The expo will feature various furniture products of companies from countries including Nepal, India, Bangladesh and Pakistan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Furnishings materials related to kitchen, bedroom, bathroom, outdoor and interior designing as well as carpet and marble will be put on display,” the association’s President Shuvendra Joshi told the state-owned national news agency RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Joshi, the annual transaction of furniture business in Nepal is worth around Rs 60 billion of which 50 percent products are imported from foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisers have set an entrance fees of Rs 100 per person. </span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15638', 'image' => '20220831114914_deal-1.jpg', 'article_date' => '2022-08-31 11:48:35', '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' => '15912', 'article_category_id' => '1', 'title' => 'NOC Hikes Prices of Diesel and Kerosene by Six Rupees Per Litre', 'sub_title' => '', 'summary' => 'September 2: Nepal Oil Corporation (NOC) has increased the price of diesel and kerosene by Rs 6 per litre. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 2: Nepal Oil Corporation (NOC) has increased the price of diesel and kerosene by Rs 6 per litre. The state-owned oil supplier informed that it increased the prices of diesel and kerosene after receiving a revised list of prices of petroleum products from the Indian Oil Corporation (IOC). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new list, the prices of petrol, diesel and kerosene has increased but the NOC has decided not to increase the price of petrol.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A board meeting of NOC on Thursday decided to increase the prices of diesel and kerosene effective from today (September 2). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NOC, the new price of diesel and kerosene has been fixed at Rs 178 per litre. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prices of aviation turbine fuel (ATF) and liquefied petroleum gas (LPG) remains unchanged at Rs 190 per litre and Rs 1800 per cylinder respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the price of petrol also remains stable at Rs 181 per litre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NOC, it is making a profit of Rs 2.82 from a litre of petrol while it has to incur a fortnightly loss of Rs 482.4 million for selling diesel and LPG.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the revised list received from IOC on Thursday, the price of petrol has increased by Rs 1.39 while the prices of diesel and aviation fuel have been increased by Rs 6.12 and Rs 8.1 respectively. On the other hand, IOC has slashed the price of kerosene and LPG.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-02', 'modified' => '2022-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '15653', 'image' => '20220902094017_Petrol-Price-Increase.jpg', 'article_date' => '2022-09-02 09:39:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15911', 'article_category_id' => '1', 'title' => 'Traffic Police Bans Use of Mobile Phone Holders in Motorbikes', 'sub_title' => '', 'summary' => 'September 1: The traffic police has banned mobile phone holders installed by motorbike riders for using ride-sharing apps.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">September 1: The traffic police has banned mobile phone holders installed by motorbike riders for using ride-sharing apps.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The police have launched a campaign to take action against such riders after it caused several accidents.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the police, installation of accessories other than the inbuilt accessories provided by the motorcycle company is considered as modified objects which is illegal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The police have started imposing fines after the drivers refused to remove such objects even after they were verbally told to remove the holders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The traffic police is planning to impose a fine of Rs 5,000 to 20,000 after a few days.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The traffic police argue that the risk of accidents has increased as the riders were found keeping the mobile phone on the holder and driving without paying proper attention.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Some of the ride-sharing apps such as Pathao, Tootle, InDriver, Super App, Saathi and others are currently operating in Nepal. They have millions of riders and around 10 million ride sharing users.</span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15652', 'image' => '20220901062224_e75fe18d73336fbde32ec37470eb58f2.jpg', 'article_date' => '2022-09-01 18:21:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15910', 'article_category_id' => '1', 'title' => 'Experts Recommend Innovative Ideas to Improve Women’s Access to Finance', 'sub_title' => '', 'summary' => 'September 1: Daayitwa, a non-profit, non-governmental organization that envisions an enterprising Nepal where every individual has opportunities for a prosperous future, organized the fourth policy dialogue of the ECON Talks Series on “Boosting access to financial investment for women-led enterprises” on Monday, August 29.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">September 1: Daayitwa, a non-profit, non-governmental organization that envisions an enterprising Nepal where every individual has opportunities for a prosperous future, organized the fourth policy dialogue of the ECON Talks Series on “Boosting access to financial investment for women-led enterprises” on Monday, August 29.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The panel discussion was attended by Nepal Rastra Bank’s Executive Director Dr Gunakar Bhatta, finance expert Monisha Shrestha, FWEAN First Vice President Shova Gyawali and Executive Director of One to Watch Suman Joshi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the discussion was held to support the policymakers and policy implementers to come up with pragmatic and effective models and schemes with a rich and diverse set of knowledge from the panelists. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The panel recommended innovative alternatives like psychometric scoring, digital footprint of loan applicants to establish credit guarantee schemes in order to improve women’s access to finance, reads a statement issued by Daayitwa.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">While inaugurating the event, Executive Director of Daayitwa, Susit Dhakal remarked that sustainable economic growth of the nation is impossible without women’s economic empowerment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“However, women-led enterprises, while resolutely promoting national income, employment and identity, are facing myriad investment challenges,” he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> Dhakal said that the conclusion and recommendations derived from the dialogue will support the policymakers and policy implementers for suitable parliamentary actions to boost women’s access to financial investment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The challenges faced by women entrepreneurs in Nepal, lack of policies and programmes focused on rural MSMEs, unnecessary rules and regulations based on societal gender stereotypes discouraging women entrepreneurs, complicated documentation processes in banking and financial institutions (BFIs), lack of coordination between government agencies and BFIs, ineffective communication on existing loan and investment schemes, and language barriers to reach rural women entrepreneurs, alternative credit guarantee schemes, etc. were the major issues discussed in the dialogue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Addressing the event, MP Chanda Chaudhary reiterated the importance of effective implementation and monitoring of the existing policies and programs to ensure women’s access to investment and to accelerate women entrepreneurship in Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“It is very necessary for the government as well as the financial institutions to create a favorable environment for women entrepreneurs to take loans, invest in their innovative ideas and upgrade their enterprises,” said Chaudhary.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Joint Secretary of the Ministry of Industry, Commerce and Supplies, Radhika Aryal emphasized on the three key points for entrepreneurship development of women. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“We already have a few good policies and programmes focused on women entrepreneurs and women-led enterprises. But we are lagging on the implementation part. To increase women’s access to financial investment, the relevant credit and loan schemes need to be communicated well to the women especially those from the rural areas,” said Aryal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">She stressed on the need to simplify the process to access those schemes and that there should be good coordination between the government and BFIs.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15651', 'image' => '20220901043337_2.jpg', 'article_date' => '2022-09-01 16:32:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15908', 'article_category_id' => '1', 'title' => 'Nepal under Risk of Falling in Grey Area in Anti-Money Laundering Drive', 'sub_title' => '', 'summary' => 'September 1: Stakeholders have expressed concern that Nepal might fall in the grey area in terms of anti-money laundering efforts.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 1: Stakeholders have expressed concern that Nepal might fall in the grey area in terms of anti-money laundering efforts. They argue that the country is likely to fall in the grey area during next year’s evaluation by international observers because of the failure of the government to amend and implement the laws needed for anti-money laundering drive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a meeting of the Finance Committee of the House of Representatives on the topic of anti-money laundering efforts in the international level and Nepal’s stance, Governor of Nepal Rastra Bank Maha Prasad Adhikari on Tuesday told the lawmakers that the legislature parliament endorses laws but the implementation part is weak in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The parliament passes necessary laws but we are weak in implementing the laws,” said Adhikari, adding, “The evaluation team can make an on-site visit and learn about the laws and their implementation. Therefore, we need to focus on this issue.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Financial Action Task Force (FATF) is the international body responsible to oversee activities related to money laundering and financing terrorism. The Asia Pacific Group on Money Laundering under the FATF will monitor the anti-money laundering efforts of Nepal next year. It was supposed to evaluate Nepal’s position in 2020 but the schedule was postponed due to the Covid-19 pandemic upon Nepal’s request.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Governor Adhikari warned that Nepal might fall in the grey area as the parliament has passed 15 acts related to anti-money laundering effort but the implementation of those laws is weak. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">When Nepal was listed in the grey area in 2010, the country faced problems in opening bank accounts in American banks. Adhikari says that it will be difficult for the country to deal with international transactions if it falls in the grey area once again. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After it was listed in the grey area in 2010, Nepal pledged to curb money laundering activities and also promised to amend related laws. Following its commitment, the international body removed Nepal from the grey list in 2014. However, Nepal has not been able to formulate laws as per its commitment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Law Secretary at the Prime Minister’s Office Dhanraj Gyawali admits that the country has not been able to amend laws as per the instructions of FATF. Nepal needs to amend 15 different laws related to money laundering in the next one month if it is to avoid falling in the grey area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gyawali said that the prime minister has been requested to take initiatives to amend those laws as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Secretary at the Ministry of Law Udaya Raj Sapkota said that the country needs to move on to plastic economy from cash economy in order to curb money laundering. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Corruption, tax evasion, financial crime and hundi business pose high risk to the government’s efforts in curbing money laundering, says Dirgha Bahadur Rawal, chief of the Financial Information Unit of the ministry.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15649', 'image' => '20220901023041_1661985620.Clipboard20.jpg', 'article_date' => '2022-09-01 14:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15907', 'article_category_id' => '1', 'title' => 'Cash Withdrawn from Banks Starts Returning to the Banking System', 'sub_title' => '', 'summary' => 'September 1: Cash withdrawn from banks right from the beginning of the current fiscal year has started returning to the banking system.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 1: Cash withdrawn from banks right from the beginning of the current fiscal year has started returning to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the data of Nepal Bankers Association, the deposits of commercial banks declined continuously till the third week of August in the current fiscal year. However, there has been a slight improvement in deposit collection from the fourth week of August. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As of mid-July this year, the total deposits of banks stood at Rs 4541 billion, which dropped by Rs 116 billion to Rs 4425 billion by August 19. As informed by the association, the deposits of commercial banks increased by Rs 510 million between August 19 and 26.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive director of Nepal Rastra Bank, Dr. Gunakar Bhatt says that the bank deposits declined in July due to the payment made by the government to the contractors at the end of the last fiscal year but the amount is gradually returning from the market to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">With the beginning of the new fiscal year, banks have started investin in loans. Although credit disbursement of commercial banks declined in the third and fourth weeks of July, it started to increase from the first week of August.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Banks that disbursed loans of Rs 11 billion between mid-July to mid-August invested Rs 1.73 billion in the third week of August and Rs 1.30 billion in the fourth week.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As credit flow of banks have exceeded deposit collection, the pressure on the credit-deposit (CD) ratio of banks is increasing. According to the association, the average CD ratio of commercial banks on August 26 is 88.42 percent. In July, the CD ratio of three banks was above 90 percent and most of them were around 90 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB, banks must maintain the CD ratio within 90 percent from mid-July. Banks that are unable to maintain this ratio will be fined.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The data of NRB also shows an improvement in the deposits of banks and financial institutions in recent times. According to NRB, the total deposits in banks and financial institutions as of Sunday stood at Rs 5030 billion. By that time, they have invested Rs 4704 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15648', 'image' => '20220901014034_Banks.jpg', 'article_date' => '2022-09-01 13:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15905', 'article_category_id' => '1', 'title' => 'Night Heritage Tour to be Launched in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'September 1: Minister for Culture, Tourism and Civil Aviation, Jeevan Ram Shrestha, on Wednesday held consultation with bodies concerned regarding launching a night heritage tour in Kathmandu Valley. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 1: Minister for Culture, Tourism and Civil Aviation, Jeevan Ram Shrestha, on Wednesday held consultation with bodies concerned regarding launching a night heritage tour in Kathmandu Valley. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Shrestha expressed his belief that night heritage tour would help increase the number of tourists and their stay in Katmandu Valley. He said that the night heritage tour would help promote art, culture and heritages of Kathmandu Valley and also conserve the heritage sites. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The night heritage tour would be operated by making all preparations including collaboration between tourism entrepreneurs and locals, arrangement of lights, security as well as running local business till evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tourism entrepreneurs said the night view of historic heritage sites, temples, parks and stone spouts would be very attractive and mesmerizing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Representatives of local levels of Kathmandu Valley, hotel entrepreneurs, tourism entrepreneurs, police and representatives of local organisations were present during the discussion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Minister Shrestha's Secretariat, the proposed night heritage tour would help in economic prosperity of locals. Minister Shrestha has mentioned about operating night heritage tour in Kathmandu Valley in his tourism revival action plan as well. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15647', 'image' => '20220901112926_Nepal-Heritage-Tour-IV.jpg', 'article_date' => '2022-09-01 11:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15906', 'article_category_id' => '1', 'title' => 'NBAC to Organise Pitch Date on September 16', 'sub_title' => '', 'summary' => 'September 1: Nepal Business Angels Circle (NBAC) is all set to convene the Pitch Date with Angles on September 16.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 1: Nepal Business Angels Circle (NBAC) is all set to convene the Pitch Date with Angles on September 16, with an intent to assist early-stage startups to find investors for their ventures. NBAC is an angel network led by Investment Circle P Ltd. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NBAC, this event supports start-ups who are looking for seed/angel funding by assisting them to connect with angel investors, venture capitalists, and investors.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NBAC said in a statement that Investment Circle is facilitating them to provide access to early-stage investment and mentorship to promising startups. The event, Pitch Date with Angels, is one of NBAC’s flagship programs focused on bringing angel investors and startups together to discuss investment possibilities, the statement reads. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Angel investors, representatives of banks, investment companies, venture capitalists, and people who are interested to invest as an angel will be attending the event. Startups in their early stage of the venture will get an opportunity to connect with these investors, share their pitch and ask for seed/angel capital. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Investment Circle, this event is primarily tailored for startups to explore investment possibilities. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15646', 'image' => '20220901114209_Untitled.jpg', 'article_date' => '2022-09-01 11:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15904', 'article_category_id' => '1', 'title' => 'India’s PTC to Purchase 1200 MW of Electricity from West Seti and Seti River-6 Projects', 'sub_title' => '', 'summary' => 'September 1: India’s Power Trade Company (PTC) Limited is all set to purchase 1200 megawatts of electricity to be generated by the West Seti and Seti River-6 hydropower projects.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">September 1: India’s Power Trade Company (PTC) Limited is all set to purchase 1200 megawatts of electricity to be generated by the West Seti and Seti River-6 hydropower projects.</span></span> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">PTC, a state-owned company of India, has signed an agreement to purchase electricity from the two strategically important projects. Following the agreement, the projects have secured market for their energy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The reservoir-based West Seti Hydropower Project has the capacity to produce 750 MW of electricity while the Seti River-6 has the potential to produce 450 MW of energy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Both the projects are being developed by an Indian company NHPC.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NHPC’s Chairman and Managing Director (CMD) AK Singh and PTC India’s CMD Rajiv Kumar Mishra signed an agreement at the corporate office of NHPC in Faridabad during a recent ceremony for the purchase of electricity produced by the two projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has already granted permission to NHPC Limited to develop these two projects. The 52nd board meeting of the Investment Board of Nepal chaired by Prime Minister Sher Bahadur Deuba had recently decided to allow the company to conduct the feasibility study of the two projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Investment Board had signed an agreement to this effect with NHPC on August 18. As per the agreement, the Indian company will have to file an application seeking license for survey of West Seti Hydropower Project within 45 after signing the MoU and that of Seti River-6 within 6 months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The company will have to prepare the Detailed Project Report within two years after acquiring the survey license.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Preliminary studies have shown that West Seti Hydropower Project can generate up to 3.3 billion units of electricity annually while Seti River-6 project can produce 1.4 billion units of electricity per year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Seti River-6 project is being constructed 50 kilometers downstream of the West Seti project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The electricity produced from these two projects will be connected to the New Attariya Sub -Station in Kailali district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">PTC, which was established in 1999, is an Indian company run through public-private partnership. It is involved in cross-border electricity trade between Nepal, Bhutan and Bangladesh.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The estimated cost of West Seti project is said to be around Rs 168 billion while that of Seti River-6 is projected to cost Rs 101 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Read also: </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""><a href="https://www.newbusinessage.com/Articles/view/15824" style="color:#0563c1; text-decoration:underline">https://www.newbusinessage.com/Articles/view/15824</a></span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15645', 'image' => '20220901111241_1661932539.jpg', 'article_date' => '2022-09-01 11:11:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15903', 'article_category_id' => '1', 'title' => 'Kavre Section of Suryabinayak-Dhulikhel Road to be Expanded in Three Years ', 'sub_title' => '', 'summary' => 'August 31: The road from Sanga to Dhulikhel in Kavrepalanchowk is to be expanded in three years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The road from Sanga to Dhulikhel in Kavrepalanchowk is to be expanded in three years. This initiative is a part of the drive to widen the road from Suryabinayak to Dhulikhel along the Araniko Highway. </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 government has called for bids with an estimated cost of Rs 4.89 billion for the expansion of Sanga-Dhulikhel road. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In this connection, the Suryabinayak-Dhulikhel-Sindhuli-Bardibas road project has solicited bids. The project office has already prepared the Detail Project Report (DPR) for the expansion of the road section. As per the DPR, it requires Rs 9 billion for the expansion of Suryabinayak-Dhulikhel road. A separate bidding would be solicited for the construction and widening of the road from Sanga to Suryabinayak. </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"">Senior divisional engineer of the project Shambhu Prasad Acharya said the bidding was called for the expansion of Sanga-Dhulikhel road along the Kavrepalanchowk section under the Suryabinayak-Dhulikhel road widening drive as problem had surfaced in 1.5 to 2-km portion of road in Sanga. The Kavrepalanchowk section stretching from Sanga to Dhulikhel is around 10 kilometers. According to Acharya, the contract winner is obliged to complete the construction within three years and also should take up the responsibility for maintenance of the road for up to one year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bidding process would be completed in mid-September and contract signing would be held soon after. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the DPR, the contractor should construct a four-lane motorable road and service lane with two-meter foot path on both the sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya shared that the construction works would gain momentum from mid-October this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the project had issued a 35-day notice in July urging the owners to remove unauthorized structures from both sides of the highway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Roads had initiated the process to expand the road from Dhulikhel to Bhaktapur via Banepa some years ago taking into consideration huge traffic pressure. </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"">It has been learnt that the Department of Roads intensified preparation for the road expansion drive on its own using internal resources after the Japan International Cooperation Agency (JICA) pulled out of the project. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15644', 'image' => '20220831041752_dhulikhel.jpg', 'article_date' => '2022-08-31 16:17:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15902', 'article_category_id' => '1', 'title' => 'Cases of Dengue Fever on the Rise in Kathmandu Valley', 'sub_title' => '', 'summary' => 'August 31: The number of patients suffering from dengue fever has increased in the Kathmandu Valley in recent days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The number of patients suffering from dengue fever has increased in the Kathmandu Valley in recent days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of late, dengue cases have been mostly detected in Kathmandu, Lalitpur and Rupandehi districts in the country. Hospitals in these districts are busy attending patients who arrive for treatment of dengue.</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 mosquito-borne disease is transmitted by Aedes-aegypti and Aedes alobopictus mosquitoes. The mosquitoes of the species are active in the morning and evening and breed in clean-pooled water. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Spokesperson of Ministry of Health and Population Dr Sanjaya Kumar Thakur, the cases of dengue have increased in some cities since mid-July this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that 1,056 dengue patients were detected in Lalitpur, 377 in Rupandehi and 332 in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson Thakur said that dengue cases have increased because of unmanaged urbanization. He added that individual efforts would be effective rather than that of the government in the prevention and control of dengue outbreak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In critical cases of dengue, the white blood cell count goes down. Most of the cases are controlled through Cetamol tablet," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Consultant Physician at Shukraraj Tropical and Infectious Disease Hospital Dr Bimal Chalise shared that 90-105 patients are visiting the hospital daily for treatment. Among them 30-35 need hospitalization whereas 60-70 require emergency service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the patients, he said, are having the symptoms such as high fever, headache, body ache, loss of appetite, vomiting and diarrhea. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue was first detected in Nepal in the year 2004. Cases of dengue fever increased in 2006, 2010, 2012, 2013, 2017 and 2019. As many as 17,992 dengue-infected cases were found in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mosque-transmitted disease which was mostly found in Terai-Madhes has also been increasingly detected in mountainous cities, including Pokhara and Kathmandu since 2018. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15643', 'image' => '20220831034508_Kathmandu Valley.jpg', 'article_date' => '2022-08-31 15:44:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15901', 'article_category_id' => '1', 'title' => 'NCC Urges Ambassadors to Facilitate Trade and Investment', 'sub_title' => '', 'summary' => 'August 31: Nepal Chamber of Commerce has requested ambassadors appointed by the government as well as foreign envoys to facilitate in trade promotion and investment in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 31: Nepal Chamber of Commerce has requested ambassadors appointed by the government as well as foreign envoys to facilitate in trade promotion and investment in Nepal. The NCC made such appeal to the envoys during a recent meeting with the ambassadors in Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NCC President Rajendra Malla requested the newly appointed ambassador to South Korea, Jyoti Pyakurel to take initiatives in bringing in investment from Korea for economic prosperity. President Malla said that along with investment in Nepal, initiatives should also be taken to introduce high-level technology from Korea.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President Malla also drew the attention of Ambassador Pyakurel to facilitate in establishing Korean multinational companies in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During the meeting, Ambassador Pyakurel said that investment promotion and bilateral trade will be the first priority during her tenure. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“My main initiative will be to bring investment from South Korea, an important economic power of Asia, to Nepal,” said Pyakurel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the officials of the chamber requested the ambassador of Slovakia to Nepal to take initiative in promoting investment. President Malla requested the Ambassador of Slovakia to Nepal, Robert Maxian, to facilitate the export of Nepal's handicraft products, textiles, carpets, etc. to Slovakia. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President Malla asked Ambassador Maxian to facilitate investment in information technology and tourism sector as well. He also requested to help increase the number of tourists saying that currently around 5,000 tourists are coming to Nepal from Slovakia annually. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ambassador Maxian said that he is committed to expanding Slovakia's economic relations with Nepal. He said that he will be taking initiatives at the government level for the same.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15642', 'image' => '20220831033629_1661900271.Clipboard01.jpg', 'article_date' => '2022-08-31 15:35:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15900', 'article_category_id' => '1', 'title' => 'NRB Tightens the Noose on Payment through Prepaid Dollar Cards', 'sub_title' => '', 'summary' => 'August 31: Nepal Rastra Bank has tightened the noose on payment made through prepaid dollar cards. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 31: Nepal Rastra Bank has tightened the noose on payment made through prepaid dollar cards. The cards issued for facilitating online purchase of goods and services from abroad are being extensively used for making payments to online games, dating sites and donations to political and religious organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank on Tuesday instructed banks to disable payments through such cards for 17 types of Merchant Category Code (MCC).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank’s directive has banned the users from making payments through prepaid dollar cards under various headings including money transfer, payment of wallet amount, payment of insurance premium, payment of real estate agents’ fee, payment for various online games, use of online dating web and donations to political and religious organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Narayan Paudyal, deputy spokesperson of NRB, said that the central bank imposed restrictions in some areas to prevent investment in unproductive sector through such cards.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In March 2021, NRB had made arrangements for commercial banks and national-level development banks to issue such cards. A maximum of USD 500 or its equivalent amount in foreign currency can be transacted through the prepaid dollar card annually.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">More than 18,000 cards were issued in less than one year after the central bank gave permission to issue such cards. According to NRB, USD 1.8 million have been paid through 18,111 cards issued till mid-December 2021. NRB does not have the data about the cards issued since then and the payments made through those cards. Poudel said that there is no reliable data about this because a new department has been added to the NRB and that department will regulate it.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, as the foreign exchange reserves were declining, the NRB was monitoring the card payments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the purchase of online games packages and dating site services started using the cards, NRB decided to stop it.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Previously, there was a provision that goods and services that were not prohibited by law could be purchased online using the card. Such cards are also used to advertise on various social networking sites including Facebook, to purchase various goods online, and to pay fees for short-term courses and training.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the instructions of the central bank, it is not allowed to use the card for capital transactions and it is not possible to use the card to withdraw cash from ATMs, POS etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15641', 'image' => '20220831031448_Dollar-Payment-Nepal-702x459.jpg', 'article_date' => '2022-08-31 15:14:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15899', 'article_category_id' => '1', 'title' => 'Government Lifts Ban on Import of Six Items', 'sub_title' => '', 'summary' => 'August 31: The government has allowed the import of 6 out of the 10 items that were banned since April 26. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 31: The government has allowed the import of 6 out of the 10 items that were banned since April 26. The ban on import of the remaining four items on the other hand has been extended until October 14.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a notice in the Nepal Gazette on August 29, the Ministry of Industry, Commerce and Supplies extended the ban on the import of personal cars, jeeps, vans, etc other than ambulances as well as all types of readymade liquor except industrial raw materials, motorcycles with a capacity of more than 150 cc and smart phones worth more than USD 300.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The items on which the government lifted the ban include foods items like Lays and Kurkure, color televisions larger than 32 inches, playing cards, diamonds, cigarettes and tobacco products and all types of toys.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Industry, Commerce and Supplies had banned the import of those goods since April 26 to ease the pressure on foreign exchange reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The ministry, exercising the authority given by Sub-section 1 of Section 3 of the Export Import (Control) Act, 2013, had imposed a ban on the import of those 10 items. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, the objective of the ban was to protect the country's external financial position and balance of payments by preventing a serious decline in foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the pressure on the foreign exchange reserves declined, the government lifted the restrictions on import. Last week, the customs department announced that the country's trade deficit decreased by 10 percent in the first month of the current fiscal year compared to the corresponding period of last FY.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The foreign exchange reserves also increased in mid-July compared to last mid-April. By mid-April, Nepal had foreign exchange reserves equal to Rs 1167.92 billion. According to Nepal Rastra Bank, this will cover the import of goods and services for 6.9 months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government decided to ban imports only after the foreign exchange reserves had declined and reached that level. The policy of discouraging imports was taken by the government since November.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, as the Covid-19 pandemic has largely subsided and the tourist season is about to start, the government decided to lift the ban on import of 6 items as it is the right time of earning foreign currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government started tightening imports since last November. Initially, NRB, the government's economic advisor and financial sector regulator, set a limit on the foreign exchange rate for import of silver. In January, arrangements were made for 50 and 100 percent cash margin while opening LC for the import of luxury goods. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there were no signs of decline in imports, the NRB officials in the second week of April issued verbal order to the chief executive officers of commercial banks instructing them not to open LCs for the import of vehicles for private purposes. Eventually, as a last resort, a formal ban was imposed on the import of luxury items.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The importers have been claiming that despite the ban imposed by the government, the import of goods other than four-wheelers and two-wheelers, which can be driven only after registration, has continued unabated through illegal channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Madan Mittal, the former secretary general of Foreign Trade Association says that banning the import of goods other than vehicles and large machinery tools gave smugglers an opportunity to take advantage of this situation. He says that because the southern border is open, smuggling cannot be stopped and claimed that imported items are easily found in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former State Minister for Industry, Commerce and Supplies Moti Lal Dugar while addressing the opening session of the 42nd Annual General Meeting of the association last Friday also raised a question for the incumbent Industry Minister about the justification of the ban saying that the goods banned from import are coming unhindered through illegal channels.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Nepal Liquor Importers Association has been claiming that illegal import has increased after the ban on imports through formal channel. Liquor importers say that if alcohol is bought directly from the producer one has to pay US$ 15 per liter. However, if it is bought from India, one has to pay US$ 41 per liter.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15640', 'image' => '20220831021421_import.jpg', 'article_date' => '2022-08-31 14:12:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15898', 'article_category_id' => '1', 'title' => 'Nepal Hospitality Conclave in September', 'sub_title' => '', 'summary' => 'August 31: The 'Nepal Hospitality Conclave – 2022,' which was postponed due to Covid-19, is all set to be held from September 24 to 25.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 31: The 'Nepal Hospitality Conclave – 2022,' which was postponed due to Covid-19, is all set to be held from September 24 to 25. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hotel Association Nepal (HAN) is preparing to organize this conclave with a plan to discuss the pros and cons of bringing international chain brands to Nepal. During the two-day event, stakeholders will also discuss internal and external marketing strategies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">HAN informed that the two-day conclave will be organized in Kathmandu with the participation of local and foreign tourism experts. HAN expects to draw the attention of the government which still lacks understanding about the hospitality business</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a press conference organized by HAN in Kathmandu on Monday, its President Shreejana Rana said that they are going to hold a comprehensive program to uplift the tourism sector after Covid and decide the future strategy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to her, there will be a detailed discussion on the benefits of bringing foreign chain brands to Nepal. The event will be attended by high-ranking officials from different countries, tourism experts from the country, and officials from relevant government agencies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She said that there will be a panel discussion on the benefits of bringing chain hotels, marketing, women entrepreneurs, policy problems with the government, , and environmental issues. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">For the last few years, hoteliers have been introducing international chain brands in Nepal. New chain brands like Sheraton, Hilton, Marriott as well as old brands like Hyatt and Radisson are operating in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepalese businessmen are trying to introduce other new chain brands as well. Rana said that a session has been fixed to discuss the benefits of internationally renowned brands coming to Nepal and the benefits it will bring to the marketing of Nepal's tourism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sajan Shakya, general secretary of HAN, said that it is not certain from which countries the participants will come in the conclave. However, he says that experts in the field of hospitality will come from 5/6 countries to attend the conclave. Shakya said that the main objective is to provide the government with detailed information about the tourism and hospitality sector and to promote tourism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The tourism industry, which has been heavily affected by the coronavirus pandemic, is returning back to normalcy since 2022. The organizers believe that the thematic discussion during the conclave will help in making future decisions and also form strategies for tourism promotion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the government’s ambiguous policy, standard of hotels, the role of women entrepreneurs in HR and the positive effects of using environment-friendly plastic will also be discussed during the program. The conclave was initially scheduled for July but was postponed until September.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15639', 'image' => '20220831010805_hospitality.jpg', 'article_date' => '2022-08-31 13:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15897', 'article_category_id' => '1', 'title' => 'Furniture Fair to Kick off in Kathmandu on September 8', 'sub_title' => '', 'summary' => 'August 31: The Furniture and Furnishing Association of Nepal is all set to organize a furniture fair at Bhrikutimandap in Kathmandu from September 8 to 12. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The Furniture and Furnishing Association of Nepal is all set to organize a furniture fair at Bhrikutimandap in Kathmandu from September 8 to 12. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Furniture and Furnishing Association, the event is being held in collaboration with the Federation of Handicraft Association of Nepal, IDEA Nepal and Space Magazine. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The expo will feature various furniture products of companies from countries including Nepal, India, Bangladesh and Pakistan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Furnishings materials related to kitchen, bedroom, bathroom, outdoor and interior designing as well as carpet and marble will be put on display,” the association’s President Shuvendra Joshi told the state-owned national news agency RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Joshi, the annual transaction of furniture business in Nepal is worth around Rs 60 billion of which 50 percent products are imported from foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisers have set an entrance fees of Rs 100 per person. </span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15638', 'image' => '20220831114914_deal-1.jpg', 'article_date' => '2022-08-31 11:48:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 2: Nepal Oil Corporation (NOC) has increased the price of diesel and kerosene by Rs 6 per litre. The state-owned oil supplier informed that it increased the prices of diesel and kerosene after receiving a revised list of prices of petroleum products from the Indian Oil Corporation (IOC). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new list, the prices of petrol, diesel and kerosene has increased but the NOC has decided not to increase the price of petrol.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A board meeting of NOC on Thursday decided to increase the prices of diesel and kerosene effective from today (September 2). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NOC, the new price of diesel and kerosene has been fixed at Rs 178 per litre. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prices of aviation turbine fuel (ATF) and liquefied petroleum gas (LPG) remains unchanged at Rs 190 per litre and Rs 1800 per cylinder respectively.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the price of petrol also remains stable at Rs 181 per litre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NOC, it is making a profit of Rs 2.82 from a litre of petrol while it has to incur a fortnightly loss of Rs 482.4 million for selling diesel and LPG.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the revised list received from IOC on Thursday, the price of petrol has increased by Rs 1.39 while the prices of diesel and aviation fuel have been increased by Rs 6.12 and Rs 8.1 respectively. On the other hand, IOC has slashed the price of kerosene and LPG.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-02', 'modified' => '2022-09-02', 'keywords' => '', 'description' => '', 'sortorder' => '15653', 'image' => '20220902094017_Petrol-Price-Increase.jpg', 'article_date' => '2022-09-02 09:39:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15911', 'article_category_id' => '1', 'title' => 'Traffic Police Bans Use of Mobile Phone Holders in Motorbikes', 'sub_title' => '', 'summary' => 'September 1: The traffic police has banned mobile phone holders installed by motorbike riders for using ride-sharing apps.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">September 1: The traffic police has banned mobile phone holders installed by motorbike riders for using ride-sharing apps.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The police have launched a campaign to take action against such riders after it caused several accidents.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the police, installation of accessories other than the inbuilt accessories provided by the motorcycle company is considered as modified objects which is illegal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The police have started imposing fines after the drivers refused to remove such objects even after they were verbally told to remove the holders.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The traffic police is planning to impose a fine of Rs 5,000 to 20,000 after a few days.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The traffic police argue that the risk of accidents has increased as the riders were found keeping the mobile phone on the holder and driving without paying proper attention.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Some of the ride-sharing apps such as Pathao, Tootle, InDriver, Super App, Saathi and others are currently operating in Nepal. They have millions of riders and around 10 million ride sharing users.</span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15652', 'image' => '20220901062224_e75fe18d73336fbde32ec37470eb58f2.jpg', 'article_date' => '2022-09-01 18:21:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15910', 'article_category_id' => '1', 'title' => 'Experts Recommend Innovative Ideas to Improve Women’s Access to Finance', 'sub_title' => '', 'summary' => 'September 1: Daayitwa, a non-profit, non-governmental organization that envisions an enterprising Nepal where every individual has opportunities for a prosperous future, organized the fourth policy dialogue of the ECON Talks Series on “Boosting access to financial investment for women-led enterprises” on Monday, August 29.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">September 1: Daayitwa, a non-profit, non-governmental organization that envisions an enterprising Nepal where every individual has opportunities for a prosperous future, organized the fourth policy dialogue of the ECON Talks Series on “Boosting access to financial investment for women-led enterprises” on Monday, August 29.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The panel discussion was attended by Nepal Rastra Bank’s Executive Director Dr Gunakar Bhatta, finance expert Monisha Shrestha, FWEAN First Vice President Shova Gyawali and Executive Director of One to Watch Suman Joshi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the discussion was held to support the policymakers and policy implementers to come up with pragmatic and effective models and schemes with a rich and diverse set of knowledge from the panelists. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The panel recommended innovative alternatives like psychometric scoring, digital footprint of loan applicants to establish credit guarantee schemes in order to improve women’s access to finance, reads a statement issued by Daayitwa.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">While inaugurating the event, Executive Director of Daayitwa, Susit Dhakal remarked that sustainable economic growth of the nation is impossible without women’s economic empowerment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“However, women-led enterprises, while resolutely promoting national income, employment and identity, are facing myriad investment challenges,” he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> Dhakal said that the conclusion and recommendations derived from the dialogue will support the policymakers and policy implementers for suitable parliamentary actions to boost women’s access to financial investment.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The challenges faced by women entrepreneurs in Nepal, lack of policies and programmes focused on rural MSMEs, unnecessary rules and regulations based on societal gender stereotypes discouraging women entrepreneurs, complicated documentation processes in banking and financial institutions (BFIs), lack of coordination between government agencies and BFIs, ineffective communication on existing loan and investment schemes, and language barriers to reach rural women entrepreneurs, alternative credit guarantee schemes, etc. were the major issues discussed in the dialogue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Addressing the event, MP Chanda Chaudhary reiterated the importance of effective implementation and monitoring of the existing policies and programs to ensure women’s access to investment and to accelerate women entrepreneurship in Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“It is very necessary for the government as well as the financial institutions to create a favorable environment for women entrepreneurs to take loans, invest in their innovative ideas and upgrade their enterprises,” said Chaudhary.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Joint Secretary of the Ministry of Industry, Commerce and Supplies, Radhika Aryal emphasized on the three key points for entrepreneurship development of women. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“We already have a few good policies and programmes focused on women entrepreneurs and women-led enterprises. But we are lagging on the implementation part. To increase women’s access to financial investment, the relevant credit and loan schemes need to be communicated well to the women especially those from the rural areas,” said Aryal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">She stressed on the need to simplify the process to access those schemes and that there should be good coordination between the government and BFIs.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15651', 'image' => '20220901043337_2.jpg', 'article_date' => '2022-09-01 16:32:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15908', 'article_category_id' => '1', 'title' => 'Nepal under Risk of Falling in Grey Area in Anti-Money Laundering Drive', 'sub_title' => '', 'summary' => 'September 1: Stakeholders have expressed concern that Nepal might fall in the grey area in terms of anti-money laundering efforts.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 1: Stakeholders have expressed concern that Nepal might fall in the grey area in terms of anti-money laundering efforts. They argue that the country is likely to fall in the grey area during next year’s evaluation by international observers because of the failure of the government to amend and implement the laws needed for anti-money laundering drive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a meeting of the Finance Committee of the House of Representatives on the topic of anti-money laundering efforts in the international level and Nepal’s stance, Governor of Nepal Rastra Bank Maha Prasad Adhikari on Tuesday told the lawmakers that the legislature parliament endorses laws but the implementation part is weak in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The parliament passes necessary laws but we are weak in implementing the laws,” said Adhikari, adding, “The evaluation team can make an on-site visit and learn about the laws and their implementation. Therefore, we need to focus on this issue.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Financial Action Task Force (FATF) is the international body responsible to oversee activities related to money laundering and financing terrorism. The Asia Pacific Group on Money Laundering under the FATF will monitor the anti-money laundering efforts of Nepal next year. It was supposed to evaluate Nepal’s position in 2020 but the schedule was postponed due to the Covid-19 pandemic upon Nepal’s request.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Governor Adhikari warned that Nepal might fall in the grey area as the parliament has passed 15 acts related to anti-money laundering effort but the implementation of those laws is weak. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">When Nepal was listed in the grey area in 2010, the country faced problems in opening bank accounts in American banks. Adhikari says that it will be difficult for the country to deal with international transactions if it falls in the grey area once again. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After it was listed in the grey area in 2010, Nepal pledged to curb money laundering activities and also promised to amend related laws. Following its commitment, the international body removed Nepal from the grey list in 2014. However, Nepal has not been able to formulate laws as per its commitment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Law Secretary at the Prime Minister’s Office Dhanraj Gyawali admits that the country has not been able to amend laws as per the instructions of FATF. Nepal needs to amend 15 different laws related to money laundering in the next one month if it is to avoid falling in the grey area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gyawali said that the prime minister has been requested to take initiatives to amend those laws as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Secretary at the Ministry of Law Udaya Raj Sapkota said that the country needs to move on to plastic economy from cash economy in order to curb money laundering. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Corruption, tax evasion, financial crime and hundi business pose high risk to the government’s efforts in curbing money laundering, says Dirgha Bahadur Rawal, chief of the Financial Information Unit of the ministry.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15649', 'image' => '20220901023041_1661985620.Clipboard20.jpg', 'article_date' => '2022-09-01 14:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15907', 'article_category_id' => '1', 'title' => 'Cash Withdrawn from Banks Starts Returning to the Banking System', 'sub_title' => '', 'summary' => 'September 1: Cash withdrawn from banks right from the beginning of the current fiscal year has started returning to the banking system.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 1: Cash withdrawn from banks right from the beginning of the current fiscal year has started returning to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the data of Nepal Bankers Association, the deposits of commercial banks declined continuously till the third week of August in the current fiscal year. However, there has been a slight improvement in deposit collection from the fourth week of August. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As of mid-July this year, the total deposits of banks stood at Rs 4541 billion, which dropped by Rs 116 billion to Rs 4425 billion by August 19. As informed by the association, the deposits of commercial banks increased by Rs 510 million between August 19 and 26.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive director of Nepal Rastra Bank, Dr. Gunakar Bhatt says that the bank deposits declined in July due to the payment made by the government to the contractors at the end of the last fiscal year but the amount is gradually returning from the market to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">With the beginning of the new fiscal year, banks have started investin in loans. Although credit disbursement of commercial banks declined in the third and fourth weeks of July, it started to increase from the first week of August.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Banks that disbursed loans of Rs 11 billion between mid-July to mid-August invested Rs 1.73 billion in the third week of August and Rs 1.30 billion in the fourth week.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As credit flow of banks have exceeded deposit collection, the pressure on the credit-deposit (CD) ratio of banks is increasing. According to the association, the average CD ratio of commercial banks on August 26 is 88.42 percent. In July, the CD ratio of three banks was above 90 percent and most of them were around 90 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the instructions of NRB, banks must maintain the CD ratio within 90 percent from mid-July. Banks that are unable to maintain this ratio will be fined.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The data of NRB also shows an improvement in the deposits of banks and financial institutions in recent times. According to NRB, the total deposits in banks and financial institutions as of Sunday stood at Rs 5030 billion. By that time, they have invested Rs 4704 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15648', 'image' => '20220901014034_Banks.jpg', 'article_date' => '2022-09-01 13:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15905', 'article_category_id' => '1', 'title' => 'Night Heritage Tour to be Launched in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'September 1: Minister for Culture, Tourism and Civil Aviation, Jeevan Ram Shrestha, on Wednesday held consultation with bodies concerned regarding launching a night heritage tour in Kathmandu Valley. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 1: Minister for Culture, Tourism and Civil Aviation, Jeevan Ram Shrestha, on Wednesday held consultation with bodies concerned regarding launching a night heritage tour in Kathmandu Valley. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Shrestha expressed his belief that night heritage tour would help increase the number of tourists and their stay in Katmandu Valley. He said that the night heritage tour would help promote art, culture and heritages of Kathmandu Valley and also conserve the heritage sites. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The night heritage tour would be operated by making all preparations including collaboration between tourism entrepreneurs and locals, arrangement of lights, security as well as running local business till evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tourism entrepreneurs said the night view of historic heritage sites, temples, parks and stone spouts would be very attractive and mesmerizing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Representatives of local levels of Kathmandu Valley, hotel entrepreneurs, tourism entrepreneurs, police and representatives of local organisations were present during the discussion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Minister Shrestha's Secretariat, the proposed night heritage tour would help in economic prosperity of locals. Minister Shrestha has mentioned about operating night heritage tour in Kathmandu Valley in his tourism revival action plan as well. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15647', 'image' => '20220901112926_Nepal-Heritage-Tour-IV.jpg', 'article_date' => '2022-09-01 11:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15906', 'article_category_id' => '1', 'title' => 'NBAC to Organise Pitch Date on September 16', 'sub_title' => '', 'summary' => 'September 1: Nepal Business Angels Circle (NBAC) is all set to convene the Pitch Date with Angles on September 16.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">September 1: Nepal Business Angels Circle (NBAC) is all set to convene the Pitch Date with Angles on September 16, with an intent to assist early-stage startups to find investors for their ventures. NBAC is an angel network led by Investment Circle P Ltd. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NBAC, this event supports start-ups who are looking for seed/angel funding by assisting them to connect with angel investors, venture capitalists, and investors.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NBAC said in a statement that Investment Circle is facilitating them to provide access to early-stage investment and mentorship to promising startups. The event, Pitch Date with Angels, is one of NBAC’s flagship programs focused on bringing angel investors and startups together to discuss investment possibilities, the statement reads. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Angel investors, representatives of banks, investment companies, venture capitalists, and people who are interested to invest as an angel will be attending the event. Startups in their early stage of the venture will get an opportunity to connect with these investors, share their pitch and ask for seed/angel capital. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Investment Circle, this event is primarily tailored for startups to explore investment possibilities. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15646', 'image' => '20220901114209_Untitled.jpg', 'article_date' => '2022-09-01 11:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15904', 'article_category_id' => '1', 'title' => 'India’s PTC to Purchase 1200 MW of Electricity from West Seti and Seti River-6 Projects', 'sub_title' => '', 'summary' => 'September 1: India’s Power Trade Company (PTC) Limited is all set to purchase 1200 megawatts of electricity to be generated by the West Seti and Seti River-6 hydropower projects.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">September 1: India’s Power Trade Company (PTC) Limited is all set to purchase 1200 megawatts of electricity to be generated by the West Seti and Seti River-6 hydropower projects.</span></span> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">PTC, a state-owned company of India, has signed an agreement to purchase electricity from the two strategically important projects. Following the agreement, the projects have secured market for their energy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The reservoir-based West Seti Hydropower Project has the capacity to produce 750 MW of electricity while the Seti River-6 has the potential to produce 450 MW of energy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Both the projects are being developed by an Indian company NHPC.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NHPC’s Chairman and Managing Director (CMD) AK Singh and PTC India’s CMD Rajiv Kumar Mishra signed an agreement at the corporate office of NHPC in Faridabad during a recent ceremony for the purchase of electricity produced by the two projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has already granted permission to NHPC Limited to develop these two projects. The 52nd board meeting of the Investment Board of Nepal chaired by Prime Minister Sher Bahadur Deuba had recently decided to allow the company to conduct the feasibility study of the two projects.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Investment Board had signed an agreement to this effect with NHPC on August 18. As per the agreement, the Indian company will have to file an application seeking license for survey of West Seti Hydropower Project within 45 after signing the MoU and that of Seti River-6 within 6 months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The company will have to prepare the Detailed Project Report within two years after acquiring the survey license.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Preliminary studies have shown that West Seti Hydropower Project can generate up to 3.3 billion units of electricity annually while Seti River-6 project can produce 1.4 billion units of electricity per year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Seti River-6 project is being constructed 50 kilometers downstream of the West Seti project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The electricity produced from these two projects will be connected to the New Attariya Sub -Station in Kailali district.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">PTC, which was established in 1999, is an Indian company run through public-private partnership. It is involved in cross-border electricity trade between Nepal, Bhutan and Bangladesh.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The estimated cost of West Seti project is said to be around Rs 168 billion while that of Seti River-6 is projected to cost Rs 101 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Read also: </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""><a href="https://www.newbusinessage.com/Articles/view/15824" style="color:#0563c1; text-decoration:underline">https://www.newbusinessage.com/Articles/view/15824</a></span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-09-01', 'modified' => '2022-09-01', 'keywords' => '', 'description' => '', 'sortorder' => '15645', 'image' => '20220901111241_1661932539.jpg', 'article_date' => '2022-09-01 11:11:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15903', 'article_category_id' => '1', 'title' => 'Kavre Section of Suryabinayak-Dhulikhel Road to be Expanded in Three Years ', 'sub_title' => '', 'summary' => 'August 31: The road from Sanga to Dhulikhel in Kavrepalanchowk is to be expanded in three years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The road from Sanga to Dhulikhel in Kavrepalanchowk is to be expanded in three years. This initiative is a part of the drive to widen the road from Suryabinayak to Dhulikhel along the Araniko Highway. </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 government has called for bids with an estimated cost of Rs 4.89 billion for the expansion of Sanga-Dhulikhel road. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In this connection, the Suryabinayak-Dhulikhel-Sindhuli-Bardibas road project has solicited bids. The project office has already prepared the Detail Project Report (DPR) for the expansion of the road section. As per the DPR, it requires Rs 9 billion for the expansion of Suryabinayak-Dhulikhel road. A separate bidding would be solicited for the construction and widening of the road from Sanga to Suryabinayak. </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"">Senior divisional engineer of the project Shambhu Prasad Acharya said the bidding was called for the expansion of Sanga-Dhulikhel road along the Kavrepalanchowk section under the Suryabinayak-Dhulikhel road widening drive as problem had surfaced in 1.5 to 2-km portion of road in Sanga. The Kavrepalanchowk section stretching from Sanga to Dhulikhel is around 10 kilometers. According to Acharya, the contract winner is obliged to complete the construction within three years and also should take up the responsibility for maintenance of the road for up to one year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bidding process would be completed in mid-September and contract signing would be held soon after. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the DPR, the contractor should construct a four-lane motorable road and service lane with two-meter foot path on both the sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya shared that the construction works would gain momentum from mid-October this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the project had issued a 35-day notice in July urging the owners to remove unauthorized structures from both sides of the highway. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Roads had initiated the process to expand the road from Dhulikhel to Bhaktapur via Banepa some years ago taking into consideration huge traffic pressure. </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"">It has been learnt that the Department of Roads intensified preparation for the road expansion drive on its own using internal resources after the Japan International Cooperation Agency (JICA) pulled out of the project. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15644', 'image' => '20220831041752_dhulikhel.jpg', 'article_date' => '2022-08-31 16:17:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15902', 'article_category_id' => '1', 'title' => 'Cases of Dengue Fever on the Rise in Kathmandu Valley', 'sub_title' => '', 'summary' => 'August 31: The number of patients suffering from dengue fever has increased in the Kathmandu Valley in recent days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The number of patients suffering from dengue fever has increased in the Kathmandu Valley in recent days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of late, dengue cases have been mostly detected in Kathmandu, Lalitpur and Rupandehi districts in the country. Hospitals in these districts are busy attending patients who arrive for treatment of dengue.</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 mosquito-borne disease is transmitted by Aedes-aegypti and Aedes alobopictus mosquitoes. The mosquitoes of the species are active in the morning and evening and breed in clean-pooled water. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Spokesperson of Ministry of Health and Population Dr Sanjaya Kumar Thakur, the cases of dengue have increased in some cities since mid-July this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that 1,056 dengue patients were detected in Lalitpur, 377 in Rupandehi and 332 in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson Thakur said that dengue cases have increased because of unmanaged urbanization. He added that individual efforts would be effective rather than that of the government in the prevention and control of dengue outbreak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In critical cases of dengue, the white blood cell count goes down. Most of the cases are controlled through Cetamol tablet," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Consultant Physician at Shukraraj Tropical and Infectious Disease Hospital Dr Bimal Chalise shared that 90-105 patients are visiting the hospital daily for treatment. Among them 30-35 need hospitalization whereas 60-70 require emergency service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the patients, he said, are having the symptoms such as high fever, headache, body ache, loss of appetite, vomiting and diarrhea. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue was first detected in Nepal in the year 2004. Cases of dengue fever increased in 2006, 2010, 2012, 2013, 2017 and 2019. As many as 17,992 dengue-infected cases were found in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mosque-transmitted disease which was mostly found in Terai-Madhes has also been increasingly detected in mountainous cities, including Pokhara and Kathmandu since 2018. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15643', 'image' => '20220831034508_Kathmandu Valley.jpg', 'article_date' => '2022-08-31 15:44:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15901', 'article_category_id' => '1', 'title' => 'NCC Urges Ambassadors to Facilitate Trade and Investment', 'sub_title' => '', 'summary' => 'August 31: Nepal Chamber of Commerce has requested ambassadors appointed by the government as well as foreign envoys to facilitate in trade promotion and investment in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 31: Nepal Chamber of Commerce has requested ambassadors appointed by the government as well as foreign envoys to facilitate in trade promotion and investment in Nepal. The NCC made such appeal to the envoys during a recent meeting with the ambassadors in Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NCC President Rajendra Malla requested the newly appointed ambassador to South Korea, Jyoti Pyakurel to take initiatives in bringing in investment from Korea for economic prosperity. President Malla said that along with investment in Nepal, initiatives should also be taken to introduce high-level technology from Korea.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President Malla also drew the attention of Ambassador Pyakurel to facilitate in establishing Korean multinational companies in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During the meeting, Ambassador Pyakurel said that investment promotion and bilateral trade will be the first priority during her tenure. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“My main initiative will be to bring investment from South Korea, an important economic power of Asia, to Nepal,” said Pyakurel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the officials of the chamber requested the ambassador of Slovakia to Nepal to take initiative in promoting investment. President Malla requested the Ambassador of Slovakia to Nepal, Robert Maxian, to facilitate the export of Nepal's handicraft products, textiles, carpets, etc. to Slovakia. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President Malla asked Ambassador Maxian to facilitate investment in information technology and tourism sector as well. He also requested to help increase the number of tourists saying that currently around 5,000 tourists are coming to Nepal from Slovakia annually. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ambassador Maxian said that he is committed to expanding Slovakia's economic relations with Nepal. He said that he will be taking initiatives at the government level for the same.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15642', 'image' => '20220831033629_1661900271.Clipboard01.jpg', 'article_date' => '2022-08-31 15:35:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15900', 'article_category_id' => '1', 'title' => 'NRB Tightens the Noose on Payment through Prepaid Dollar Cards', 'sub_title' => '', 'summary' => 'August 31: Nepal Rastra Bank has tightened the noose on payment made through prepaid dollar cards. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 31: Nepal Rastra Bank has tightened the noose on payment made through prepaid dollar cards. The cards issued for facilitating online purchase of goods and services from abroad are being extensively used for making payments to online games, dating sites and donations to political and religious organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank on Tuesday instructed banks to disable payments through such cards for 17 types of Merchant Category Code (MCC).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank’s directive has banned the users from making payments through prepaid dollar cards under various headings including money transfer, payment of wallet amount, payment of insurance premium, payment of real estate agents’ fee, payment for various online games, use of online dating web and donations to political and religious organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Narayan Paudyal, deputy spokesperson of NRB, said that the central bank imposed restrictions in some areas to prevent investment in unproductive sector through such cards.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In March 2021, NRB had made arrangements for commercial banks and national-level development banks to issue such cards. A maximum of USD 500 or its equivalent amount in foreign currency can be transacted through the prepaid dollar card annually.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">More than 18,000 cards were issued in less than one year after the central bank gave permission to issue such cards. According to NRB, USD 1.8 million have been paid through 18,111 cards issued till mid-December 2021. NRB does not have the data about the cards issued since then and the payments made through those cards. Poudel said that there is no reliable data about this because a new department has been added to the NRB and that department will regulate it.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, as the foreign exchange reserves were declining, the NRB was monitoring the card payments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the purchase of online games packages and dating site services started using the cards, NRB decided to stop it.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Previously, there was a provision that goods and services that were not prohibited by law could be purchased online using the card. Such cards are also used to advertise on various social networking sites including Facebook, to purchase various goods online, and to pay fees for short-term courses and training.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the instructions of the central bank, it is not allowed to use the card for capital transactions and it is not possible to use the card to withdraw cash from ATMs, POS etc.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15641', 'image' => '20220831031448_Dollar-Payment-Nepal-702x459.jpg', 'article_date' => '2022-08-31 15:14:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15899', 'article_category_id' => '1', 'title' => 'Government Lifts Ban on Import of Six Items', 'sub_title' => '', 'summary' => 'August 31: The government has allowed the import of 6 out of the 10 items that were banned since April 26. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 31: The government has allowed the import of 6 out of the 10 items that were banned since April 26. The ban on import of the remaining four items on the other hand has been extended until October 14.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a notice in the Nepal Gazette on August 29, the Ministry of Industry, Commerce and Supplies extended the ban on the import of personal cars, jeeps, vans, etc other than ambulances as well as all types of readymade liquor except industrial raw materials, motorcycles with a capacity of more than 150 cc and smart phones worth more than USD 300.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The items on which the government lifted the ban include foods items like Lays and Kurkure, color televisions larger than 32 inches, playing cards, diamonds, cigarettes and tobacco products and all types of toys.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Industry, Commerce and Supplies had banned the import of those goods since April 26 to ease the pressure on foreign exchange reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The ministry, exercising the authority given by Sub-section 1 of Section 3 of the Export Import (Control) Act, 2013, had imposed a ban on the import of those 10 items. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the ministry, the objective of the ban was to protect the country's external financial position and balance of payments by preventing a serious decline in foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the pressure on the foreign exchange reserves declined, the government lifted the restrictions on import. Last week, the customs department announced that the country's trade deficit decreased by 10 percent in the first month of the current fiscal year compared to the corresponding period of last FY.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The foreign exchange reserves also increased in mid-July compared to last mid-April. By mid-April, Nepal had foreign exchange reserves equal to Rs 1167.92 billion. According to Nepal Rastra Bank, this will cover the import of goods and services for 6.9 months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government decided to ban imports only after the foreign exchange reserves had declined and reached that level. The policy of discouraging imports was taken by the government since November.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, as the Covid-19 pandemic has largely subsided and the tourist season is about to start, the government decided to lift the ban on import of 6 items as it is the right time of earning foreign currency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The government started tightening imports since last November. Initially, NRB, the government's economic advisor and financial sector regulator, set a limit on the foreign exchange rate for import of silver. In January, arrangements were made for 50 and 100 percent cash margin while opening LC for the import of luxury goods. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As there were no signs of decline in imports, the NRB officials in the second week of April issued verbal order to the chief executive officers of commercial banks instructing them not to open LCs for the import of vehicles for private purposes. Eventually, as a last resort, a formal ban was imposed on the import of luxury items.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The importers have been claiming that despite the ban imposed by the government, the import of goods other than four-wheelers and two-wheelers, which can be driven only after registration, has continued unabated through illegal channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Madan Mittal, the former secretary general of Foreign Trade Association says that banning the import of goods other than vehicles and large machinery tools gave smugglers an opportunity to take advantage of this situation. He says that because the southern border is open, smuggling cannot be stopped and claimed that imported items are easily found in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former State Minister for Industry, Commerce and Supplies Moti Lal Dugar while addressing the opening session of the 42nd Annual General Meeting of the association last Friday also raised a question for the incumbent Industry Minister about the justification of the ban saying that the goods banned from import are coming unhindered through illegal channels.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Nepal Liquor Importers Association has been claiming that illegal import has increased after the ban on imports through formal channel. Liquor importers say that if alcohol is bought directly from the producer one has to pay US$ 15 per liter. However, if it is bought from India, one has to pay US$ 41 per liter.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15640', 'image' => '20220831021421_import.jpg', 'article_date' => '2022-08-31 14:12:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15898', 'article_category_id' => '1', 'title' => 'Nepal Hospitality Conclave in September', 'sub_title' => '', 'summary' => 'August 31: The 'Nepal Hospitality Conclave – 2022,' which was postponed due to Covid-19, is all set to be held from September 24 to 25.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 31: The 'Nepal Hospitality Conclave – 2022,' which was postponed due to Covid-19, is all set to be held from September 24 to 25. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Hotel Association Nepal (HAN) is preparing to organize this conclave with a plan to discuss the pros and cons of bringing international chain brands to Nepal. During the two-day event, stakeholders will also discuss internal and external marketing strategies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">HAN informed that the two-day conclave will be organized in Kathmandu with the participation of local and foreign tourism experts. HAN expects to draw the attention of the government which still lacks understanding about the hospitality business</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a press conference organized by HAN in Kathmandu on Monday, its President Shreejana Rana said that they are going to hold a comprehensive program to uplift the tourism sector after Covid and decide the future strategy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to her, there will be a detailed discussion on the benefits of bringing foreign chain brands to Nepal. The event will be attended by high-ranking officials from different countries, tourism experts from the country, and officials from relevant government agencies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She said that there will be a panel discussion on the benefits of bringing chain hotels, marketing, women entrepreneurs, policy problems with the government, , and environmental issues. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">For the last few years, hoteliers have been introducing international chain brands in Nepal. New chain brands like Sheraton, Hilton, Marriott as well as old brands like Hyatt and Radisson are operating in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepalese businessmen are trying to introduce other new chain brands as well. Rana said that a session has been fixed to discuss the benefits of internationally renowned brands coming to Nepal and the benefits it will bring to the marketing of Nepal's tourism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sajan Shakya, general secretary of HAN, said that it is not certain from which countries the participants will come in the conclave. However, he says that experts in the field of hospitality will come from 5/6 countries to attend the conclave. Shakya said that the main objective is to provide the government with detailed information about the tourism and hospitality sector and to promote tourism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The tourism industry, which has been heavily affected by the coronavirus pandemic, is returning back to normalcy since 2022. The organizers believe that the thematic discussion during the conclave will help in making future decisions and also form strategies for tourism promotion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the government’s ambiguous policy, standard of hotels, the role of women entrepreneurs in HR and the positive effects of using environment-friendly plastic will also be discussed during the program. The conclave was initially scheduled for July but was postponed until September.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15639', 'image' => '20220831010805_hospitality.jpg', 'article_date' => '2022-08-31 13:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15897', 'article_category_id' => '1', 'title' => 'Furniture Fair to Kick off in Kathmandu on September 8', 'sub_title' => '', 'summary' => 'August 31: The Furniture and Furnishing Association of Nepal is all set to organize a furniture fair at Bhrikutimandap in Kathmandu from September 8 to 12. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 31: The Furniture and Furnishing Association of Nepal is all set to organize a furniture fair at Bhrikutimandap in Kathmandu from September 8 to 12. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Furniture and Furnishing Association, the event is being held in collaboration with the Federation of Handicraft Association of Nepal, IDEA Nepal and Space Magazine. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The expo will feature various furniture products of companies from countries including Nepal, India, Bangladesh and Pakistan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“Furnishings materials related to kitchen, bedroom, bathroom, outdoor and interior designing as well as carpet and marble will be put on display,” the association’s President Shuvendra Joshi told the state-owned national news agency RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Joshi, the annual transaction of furniture business in Nepal is worth around Rs 60 billion of which 50 percent products are imported from foreign countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The organisers have set an entrance fees of Rs 100 per person. </span></span></span></p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => '', 'description' => '', 'sortorder' => '15638', 'image' => '20220831114914_deal-1.jpg', 'article_date' => '2022-08-31 11:48:35', '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
