The Nepal Stock Exchange (NEPSE) rose slightly on Wednesday, gaining 6.37 points or 0.30% to close at 2121.62. This marks the fourth trading day of the week with a minimal…
The Nepal Stock Exchange (NEPSE) rose slightly on Wednesday, gaining 6.37 points or 0.30% to close at 2121.62. This marks the fourth trading day of the week with a minimal…
…
KATHMANDU: The post of chairman of the Securities Board of Nepal (SEBON) has been vacant since January 5, halting the process of public issuance of…
BIRGUNJ: Importers have stepped up customs clearance of vehicles from Birgunj customs, the country's main trade…
KATHMANDU: Discussion on different headings of the Appropriation Bill, 2081, has commenced in the House of Representatives from…
KATHMANDU: Even though the monsoon entered Nepal on June 10, it will take a few more days for the monsoon to enter the Kathmandu…
KATHMANDU: The match between Nepal and Sri Lanka under the ICC T20 World Cup Cricket Tournament has been cancelled due to…
Excessive heat has been forecast for the next three days in the central and western Tarai…
The Nepal Stock Exchange (NEPSE) Index saw a significant increase of 33.15 points, or 1.59%, closing at 2115.24 on Tuesday, the third trading day of the…
BANIYANI: Farmers of Jhapa district have been worried about not getting proper market for the paddy they produced.…
KATHMANDU: The construction of the Dhalkebar-Inaruwa 400 kV transmission line has been completed, enabling the transmission of 4,000 megawatts of electricity.…
KATHMANDU: When Upper Tamakoshi Hydropower Limited auctioned off its rights shares in last December/January, investors had to stay in queue for three days to buy them.…
KATHMANDU: The government has selected a total of 183 startup enterprises to provide loans of Rs 194 million at subsidized interest rate for business expansion.…
KATHMANDU: Nepal’s trade deficit decreased 2.3 percent to Rs 1177.18 billion in the first ten months of the current fiscal year due to the decline in imports and…
KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year…
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This marks the fourth trading day of the week with a minimal increase.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 12: The Nepal Stock Exchange (NEPSE) rose slightly on Wednesday, gaining 6.37 points or 0.30% to close at 2121.62. This marks the fourth trading day of the week with a minimal increase.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the trading session, 312 different company stocks (scrips) were traded through total 74,858 transactions. A total of 12,950,407 units of shares changed hands, resulting into a total turnover of Rs 5.89 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) was the company with the highest turnover, recording transactions worth Rs 27 crore. Samriddhi Finance Limited (SFCL) and Mid Solu Hydropower Limited (MSHL) witnessed the most significant positive change, each gaining 10% and reaching the upper limit (positive circuit) for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the other hand, Sayapatri Hydropower Limited (SPHL) experienced the biggest loss, falling 4.48% and closing at a market price of Rs 533 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Looking at the sectoral performance, all sectors except for Hotels and Tourism, Hydropower, Non-Life Insurance, and Trading witnessed gains. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Finance Index enjoyed the highest increase at 1.07%, while the Hydropower Index suffered the most significant decline at 0.61%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20979', 'image' => '20240612032302_collage (30).jpg', 'article_date' => '2024-06-12 15:19:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21252', 'article_category_id' => '1', 'title' => 'Financial Irregularities Rampant at the Local Level', 'sub_title' => 'CIAA Receives 17,000 Complaints Against People's Representatives', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">BIJAY DAMASE</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The Commission for Investigation of Abuse of Authority (CIAA) has registered a case in the special court against six individuals, including the suspended mayor of Bagmati Municipality in Sarlahi, Bharat Kumar Thapa. Thapa was automatically suspended from his position following the provisions of the Prevention of Corruption Act after the CIAA filed a case on April 10, accusing him of illegally amassing wealth.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On Tuesday, the anti-graft body registered another case, alleging that Thapa and five others committed irregularities worth Rs 302.9 million in the construction of Bharat Tal in the municipality. The CIAA also filed charges against the municipality's deputy mayor, Leela Kumari Moktan, demanding a bond of Rs 302.9 million from her.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The initial case against Thapa claims he illegally earned Rs 53.3 million. The charge sheet details that Thapa had a legal income of Rs 78.6 million from mid-September 2017 to mid-February 2023 but invested and spent Rs 132 million during this period, leading to a discrepancy of Rs 53.3 million. The CIAA has demanded fines, punishment, and property confiscation for Thapa, asserting that he earned illegal property in the names of his wife Reshmi Kumari Ghimire, brother Ram Thapa, and daughter-in-law Dwarika Raut. They have also been made defendants in the case, with a demand for property confiscation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Recently, the CIAA filed another corruption case against 14 individuals, including Mayor Gajendra Maharjan of Lalitpur's Godavari Municipality, accusing them of causing a loss of Rs 1.487 billion to the government by under-invoicing tenders for sand and gravel excavation. CIAA claims these actions led to significant revenue loss from FY 2075/76 to 2079/80.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Yagyaraj Regmi, the information officer of the special court, the CIAA filed the case on the grounds of revenue embezzlement by issuing tenders below the government rate. Mayor Maharjan, elected from the Nepali Congress, was also elected in the local elections of 2074.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The CIAA is currently investigating numerous complaints against public representatives, with 10-12 cases filed monthly in the special court after investigations. Joint Secretary and Spokesperson of the CIAA, Narahari Ghimire, noted that complaints of corruption and irregularities are being prioritized. He indicated that the nature of the current cases suggests a misuse of power by people's representatives, and he anticipates an increase in complaints.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CIAA's report highlights financial irregularities in programs such as procurement, agricultural initiatives, small contracts, river product excavation, report preparation, and road construction. There is a significant number of complaints alleging that representatives have illegally profited by misusing their power, violating laws, and causing state revenue losses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This year, approximately 17,000 complaints have been filed against local representatives, making up about half of the total 33,000 complaints. This surge in complaints indicates that corruption has deeply rooted itself at the local level. The highest number of complaints have been made against representatives in Madhesh Province.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bhim Prasad Dhungana, chairman of the Municipal Association of Nepal, argued that corruption is less prevalent at the local level compared to the federal government. He emphasized that there are many local levels, which naturally leads to a higher number of complaints. He argued that there are 753 local governments in the country, compared to one federal and seven provincial governments. Dhungana suggested that allegations of widespread local corruption are attempts to weaken local governance. He also noted that many cases escalate due to anonymous complaints against public representatives.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, Ghimire mentioned that anonymous complaints are permitted to protect the complainant's privacy, and the authority investigates based on these complaints.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition to the CIAA's findings, the Auditor General's report also highlights financial indiscipline at the local level, noting worsening arrears and failure to follow procurement processes, leading to random fund disbursements.</span></span></span></p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => 'corruption, Nepal, CIAA, abuse, local, level, representatives, graft, case, charge', 'description' => '', 'sortorder' => '20978', 'image' => '20240612015257_CIAA eight by six.jpg', 'article_date' => '2024-06-12 13:52:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21251', 'article_category_id' => '1', 'title' => 'New Legal Provision Undermines SEBON’s Autonomy: Stakeholders', 'sub_title' => '', 'summary' => 'KATHMANDU: The post of chairman of the Securities Board of Nepal (SEBON) has been vacant since January 5, halting the process of public issuance of securities.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">PRAJITA BUDHATHOKI</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">KATHMANDU: The post of chairman of the Securities Board of Nepal (SEBON) has been vacant since January 5, halting the process of public issuance of securities. Despite this, the government has shown no urgency in appointing a new chairman.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had formed a recommendation committee for the appointment of the SEBON chair on January 17. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Among the aspiring candidates, the committee shortlisted five on April 7, but the government has yet to show interest in finalizing the appointment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government, which deliberately delayed the appointment of a new chairman, has assigned the responsibility of SEBON chairman to a trusted employee. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">An amendment to the Securities Act in mid-April allows a representative from the Ministry of Finance to assume the role of SEBON chairman until a new one is appointed. According to the amended provisions in Section 7 of the Securities Act 2063, if the position of chairman is vacant, a member representing the Ministry of Finance on the board can act as chairman, regardless of how long the appointment process takes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Under this new arrangement, Narendra Kumar Rana, a joint secretary of the Ministry of Finance, has been given the responsibility of SEBON chair. Rana assumed this role on May 21 after the legal amendment took effect on April 13. Previously, Ritesh Shakya, another joint secretary of the Ministry of Finance, held the position temporarily.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Narayan Paudel, chairman of SEBON’s Independent Employees' Organization, stated that the amendment allows the government to delay the appointment of a permanent chairman indefinitely. Paudel emphasized that an autonomous regulatory body should not be unduly influenced by government decisions, as the board's primary responsibility is to manage the issue, purchase, sale, distribution, and exchange of securities to protect investors' interests and develop the capital market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">This situation is reminiscent of an incident two years ago when the government attempted to remove Maha Prasad Adhikari, the governor of Nepal Rastra Bank, after he refused to serve the personal interests of the then Finance Minister Janardan Sharma. An inquiry committee was formed, suspending Adhikari, but the Supreme Court intervened and reinstated him, halting the removal process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government’s decision to hand over the responsibility of SEBON’s chairman to a representative of the Ministry of Finance has drawn widespread criticism. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Critics argue that the decision to assign the SEBON chairmanship to a Ministry of Finance representative undermines the autonomy of regulatory bodies and impedes the resumption of pending IPO issuances. They contend that the appointed person can only handle daily administration and lacks the authority to make significant progress.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Narendra Kumar Rana, now acting as SEBON chairman, has promised to address the stalled activities. "Since I have been given the responsibility of the board’s chairman, preparations are being made to make the market viable," said Rana.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => 'sebon, chair, securities, IPO, Nepal, delay, appoint, urgency, autonomy', 'description' => '', 'sortorder' => '20977', 'image' => '20240612012614_Sebon-update.jpg', 'article_date' => '2024-06-12 13:23:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21250', 'article_category_id' => '1', 'title' => 'Customs Clearance of Vehicles at Birgunj Customs Increasing', 'sub_title' => '', 'summary' => 'BIRGUNJ: Importers have stepped up customs clearance of vehicles from Birgunj customs, the country's main trade point.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">BIRGUNJ: Importers have stepped up customs clearance of vehicles from Birgunj customs, the country's main trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The importers have started customs clearance of vehicles that were stuck at Birgunj Integrated Check Post and Dry Port for a long time. Along with this, the government officials said that newly imported vehicles are also getting customs clearance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">According to Kamal Gyawali, head of Nepal Intermodal Transport Development Committee, Birgunj, the number of new vehicles passing the customs clearance has been higher than those entering the customs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">At present, 983 new imported vehicles are awaiting customs clearance at the Integrated Check Point and 86 at Dry Port Customs. Gyawali said that most of them are jeeps, cars and vans. Chassis of trucks and buses are also being imported through the customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The data shows that the import of vehicles has decreased since the onset of the coronavirus pandemic. As the demand for vehicles in the market decreased, the imported vehicles were kept on the customs premises by the importers. Demand was also affected due to the government's import control policy and recession due to the coronavirus pandemic. Importers have said that now the demand for vehicles has increased and the customs clearance of old and new vehicles is increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">As of last April, the number of vehicles piled up at the ICP due to the delay in customs clearance stood at 2,300. Gyawali said this number has gradually decreased due to the rise in customs clearance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif""> "After the importers started releasing the vehicles, the piling up of such vehicles at the customs has started to decrease. At one point, there was a difficulty in managing the parking lot of vehicles at the customs office, but now that problem has been solved,” he said. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20976', 'image' => '20240612123534_20220815011457_1660393906.jpg', 'article_date' => '2024-06-12 12:34:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21249', 'article_category_id' => '1', 'title' => 'Discussion on Appropriation Bill Begins ', 'sub_title' => '', 'summary' => 'KATHMANDU: Discussion on different headings of the Appropriation Bill, 2081, has commenced in the House of Representatives from Tuesday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Discussion on different headings of the Appropriation Bill, 2081, has commenced in the House of Representatives from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Discussion on various headings of the Ministry of Youth and Sports, Ministry of Education, Science and Technology, Ministry of Labour, Employment and Social Security and Ministry of Agriculture and Livestock Development has started. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In course of discussion, Ram Hari Khatiwada raised question about absence of Minister for Youth and Sports in the Parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, lawmakers Chandra Kant Bhandari, Menuka Kumari Pokharel, Devendra Poudel, Dhawal Shumsher JB Rana, Amar Bahadur Thapa, Ranju Kumari Jha, Abdul Khan, Ram Prakash Chaudhary, Prabhu Sah, Yogendra Mandal, Ram Hari Khatiwada, Sarita Bhusal, Gyanu Basnet Subedi, among others participated in the discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before the discussion, lawmaker Prem Suwal presented a proposal to reduce the expenditure of the Ministry of Education, Science and Technology and Ministry of Labour, Employment and Social Security under the Appropriation Bill, 2081. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, HoR member Dr Amaresh Kumar Singh proposed that the expenses of Ministry of Education, Science and Technology, Ministry of Labour, Employment and Social Security and Ministry of Agriculture and Livestock Development be reduced. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Badri Prasad Pandey, Rama Koirala and Sanjay Kumar Gautam asked to reduce the expenses of different ministries. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20975', 'image' => '20240612113307_Parliament RSS 800.jpg', 'article_date' => '2024-06-12 11:32:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21247', 'article_category_id' => '1', 'title' => 'Monsoon Arrival in Kathmandu to Take a Few More Days ', 'sub_title' => '', 'summary' => 'KATHMANDU: Even though the monsoon entered Nepal on June 10, it will take a few more days for the monsoon to enter the Kathmandu Valley. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Even though the monsoon entered Nepal on June 10, it will take a few more days for the monsoon to enter the Kathmandu Valley. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">T<span style="font-family:"Arial Unicode MS","sans-serif"">he influence of the monsoon system in currently felt in the eastern parts of the country while the rest of the country is being impacted by the local and westerly winds as well as low pressure system formed around Bihar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Department of Hydrology and Meteorology Sanjeev Adhikari said there are slim chances of rainfall in the Kathmandu Valley today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The maximum temperature is expected to remain in between 32 and 34 degrees Celsius. The weather will be partly to generally cloudy in the hill regions of the country including Sudurpaschim, Karnali and Koshi provinces and fair in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is also taking place at one or two places of Koshi Province. The weather will be partly to generally cloudy in the hill regions of Bagmati and Gandaki provinces and mainly fair in the rest of the country this afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Meteorological Forecasting Division has predicted partly to generally cloudy in the hill regions of Koshi and Gandaki provinces and partly fair in the rest of the country tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light to moderate rain accompanied by thunder and lightning is likely to occur at some places of the hill regions of Koshi and Gandaki provinces. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20974', 'image' => '20240612110759_20240610063405_20240604114336_20210626022910_Monsoon.jpeg', 'article_date' => '2024-06-12 11:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21248', 'article_category_id' => '1', 'title' => 'Nepal-Sri Lanka Match Cancelled due to Rain ', 'sub_title' => '', 'summary' => 'KATHMANDU: The match between Nepal and Sri Lanka under the ICC T20 World Cup Cricket Tournament has been cancelled due to rain. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The match between Nepal and Sri Lanka under the ICC T20 World Cup Cricket Tournament has been cancelled due to rain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The match was scheduled to start at 5:15 am today at the Broard County Ground in Florida, but was canceled due to continuous rain. With the cancellation of the match, both the teams shared one point each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has gained one point from two matches in the World Cup while Sri Lanka has one point from three matches. Nepal’s hopes of entering the next round is still alive in the world cup. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20973', 'image' => '20240612111603_GPzMwNUbMAA7LhY.jpg', 'article_date' => '2024-06-12 11:15:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21246', 'article_category_id' => '1', 'title' => 'Central and Western Tarai Likely to Experience Excessive Heat for Three Days', 'sub_title' => '', 'summary' => 'Excessive heat has been forecast for the next three days in the central and western Tarai regions.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 11: Excessive heat has been forecast for the next three days in the central and western Tarai regions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has reported that temperatures in some parts of the southern plains of Sudurpaschim and Lumbini provinces have recently soared to 40 degrees Celsius or higher.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In a special bulletin issued today, the Division forecasts the occurrence of a heat wave for the next three days starting from today. It has urged everyone to take precautions against the adverse weather conditions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Symptoms of heat wave-related illness include fatigue, weakness, increased thirst, headache, muscle cramps, dizziness, muscle pain, vomiting, and even unconsciousness.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Division advises the public to take precautions to mitigate the risks associated with the heat wave. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">People have been advised to stay indoors in cool areas, wear lightweight cotton clothing, avoid direct sun exposure, wear hats when outdoors, and consume plenty of fruits, water, and fluids such as fresh juice. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20972', 'image' => '20240611052645_collage (10).jpg', 'article_date' => '2024-06-11 17:25:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21245', 'article_category_id' => '1', 'title' => 'NEPSE Gains 33.15 Points to Close at 2115.24', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a significant increase of 33.15 points, or 1.59%, closing at 2115.24 on Tuesday, the third trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 11: The Nepal Stock Exchange (NEPSE) Index saw a significant increase of 33.15 points, or 1.59%, closing at 2115.24 on Tuesday, the third trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, a total of 311 scrips were traded through 74,877 transactions on NEPSE. A total of 12,665,329 units of shares were exchanged, resulting in a total turnover of Rs 5.55 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRN Infrastructure and Development Fund Limited (NRN) led in turnover with transactions worth Rs 36 crores. Barun Hydro Power Company Limited (BARUN), Green Ventures Limited (GVL), and Kutheli Bukhari Small Hydropower Limited (KBSH) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Samling Power Company Limited (SPC) experienced the largest loss, dropping 5.81%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the green. The Hydropower Index gained the most at 2.58%, while the Manufacturing and Processing Index had the smallest gain at 0.40%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20971', 'image' => '20240611035724_collage (9).jpg', 'article_date' => '2024-06-11 15:56:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21244', 'article_category_id' => '1', 'title' => 'Farmers Demand Reasonable Price for Paddy ', 'sub_title' => '', 'summary' => 'BANIYANI: Farmers of Jhapa district have been worried about not getting proper market for the paddy they produced. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BANIYANI: Farmers of Jhapa district have been worried about not getting proper market for the paddy they produced. The demand for pre-monsoon paddy is discouraging, says Durga Prasad Thapa, a farmer from Kanchankawal rural municipality-2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The paddy is ripe in the field for harvest but the slump in the price has distressed farmers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They were selling the rice at Rs 1,050 to Rs 1,200 per maan (40 kilograms) some days back. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa, who is also a member of rice super zone coordination committee, shared that the government, which encourages production of paddy, should also manage sales and marketing of paddy.</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 paddy production will increase this year, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another farmer Toyanath Mishra from Kachankawal-3 said, "Although we sold 40 kgs of rice for Rs 1,200 in the beginning, the price has declined heavily now and is being traded for Rs 900 per 40 kgs. It is the peak time for harvesting and sale of paddy, but declining price is a cause of concern." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Since<span style="font-family:"Arial Unicode MS","sans-serif""> the Chaite dhan or pre-monsoon paddy is not as dry as the normal rice, it is not practical for farmers to store them. So, the farmers have no option but to sell them immediately after threshing in the field. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Despite loss, we are bound to sell the Chaite dhan," Mishra shared his plight, adding that they are is not sold on time, they will decay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, on March 28, the government had decided to fix the minimum support price of Chaite dhan at Rs 2,707 per quintal. Such rice should not have more than 18 percent wetness. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The farmers are worried because they are forced to sell the paddy at a price less than the minimum support price fixed by the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20970', 'image' => '20240611013516_20240126015111_paddyyy-transformed.jpeg', 'article_date' => '2024-06-11 13:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21243', 'article_category_id' => '1', 'title' => 'Dhalkebar-Inaruwa Transmission Line to Facilitate Export of 4,000 Megawatts of Electricity', 'sub_title' => '', 'summary' => 'KATHMANDU: The construction of the Dhalkebar-Inaruwa 400 kV transmission line has been completed, enabling the transmission of 4,000 megawatts of electricity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The construction of the Dhalkebar-Inaruwa 400 kV transmission line has been completed, enabling the transmission of 4,000 megawatts of electricity. This project is part of the Hetaunda-Dhalkebar-Inaruwa 400 kV transmission line initiative, aimed at enhancing the reliability of the electricity transmission system within Nepal and expanding electricity trade with India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The 154 km double circuit transmission line runs from Dhalkebar in Dhanusha to the Inaruwa Substation in Sunsari. Meanwhile, the 288 km transmission line from the Hetaunda substation in Makwanpur to the Inaruwa substation is being constructed in two sections. The Dhalkebar-Inaruwa section is complete, and the Hetaunda-Dhalkebar section is still under construction.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Executive Director of Nepal Electricity Authority, Kulman Ghising, highlighted that the completion of the Dhalkebar-Inaruwa section is a significant milestone, improving the country's transmission system's quality and reliability and increasing electricity trade between Nepal and India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Currently, the Dhalkebar-Muzaffarpur cross-border transmission line imports and exports only 800 megawatts of electricity due to the infrastructure limitations. However, once complete, the Dhalkebar-Inaruwa transmission line will allow for excess electricity to be exported to India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, during winter, the existing 132 kV transmission line from Dhalkebar to Inaruwa struggled to handle the load, often nearing the breaking point. With the new 400 kV line, voltage issues will been resolved, and power supply to the Morang-Sunsari industrial corridor will improved significantly.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Inaruwa 400 kV substation is already operational. To further enhance the power supply in the Sunsari-Morang industrial corridor, the old conductor of the Inaruwa-Duhbi 132 kV transmission line is being replaced with a high-capacity HTLS conductor. This upgrade will almost double the transmission line's capacity, which currently transmits about 200 megawatts of electricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Proposals have been made for the Inaruwa-Purnia transmission line for power trade with India and the Inaruwa-Anaramani 400 kV transmission line for trade between Nepal, India, and Bangladesh, with funding from the Korean Export-Import (EXIM) Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Dhalkebar-Inaruwa section includes 417 towers. A deep pile foundation (24-32 meters) has been laid for the 5 km transmission line on the Koshi river, with each of the 11 towers in this segment having 16 pile foundations. The project faced complications two years ago when a flood in the Koshi river swept away one of the towers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Project Director Shyam Kumar Yadav noted that the construction was impacted by the COVID-19 pandemic, floods, local obstructions, a Supreme Court interim order, and the procedural delay in forest area land use and tree felling process. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In Siraha, the work was halted for four years due to a court order, necessitating three preliminary environmental impact assessments (IEAs). With the Dhalkebar-Inaruwa section now completed, efforts are focused on the Dhalkebar-Hetaunda section, with 45 km of wire already laid.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Local residents in Hetaunda sub-metropolitan wards 15, 16, and 17 have been obstructing construction for about seven years, demanding a shift in the route. Sixteen towers remain to be built, 14 in the Hatia area and two in Thanabharyang, Hetaunda-11.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Hetaunda-Dhalkebar-Inaruwa transmission line project spans along the hill region, Shivalik-Chure range, and Terai regions, covering 10 districts: Makwanpur, Bara, Rautahat, Sarlahi, Mahottari, Dhanusha, Siraha, Saptari, Udayapur, and Sunsari. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The contract was signed in January 2012 AD with the aim of completing it within 30 months. The 400 kV transmission line mostly runs parallel to the existing 132 kV transmission line and the East-West Highway. The right-of-way is 23 meters on either side from the center point of the transmission line. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The project involves clearing 518 hectares of forest and acquiring 30 hectares of private agricultural land, affecting 475 hectares of private land and 171 houses and structures. Compensation for the right-of-way in the Dhalkebar-Inaruwa section alone cost about Rs 5 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">With an estimated cost of $170 million, the project is part of the Nepal-India Power Transmission and Trade Project, funded by the Government of Nepal, the Nepal Electricity Authority and concessional loans from the World Bank. After the World Bank loan period ended, the funding for the remaining works of the project is being bankrolled by the government and the NEA.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20969', 'image' => '20240611013350_20231120013615_20230716115331_eee.jpg', 'article_date' => '2024-06-11 13:32:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21241', 'article_category_id' => '1', 'title' => 'Physical Presence Still Mandatory to Buy Shares through Auction', 'sub_title' => '', 'summary' => 'KATHMANDU: When Upper Tamakoshi Hydropower Limited auctioned off its rights shares in last December/January, investors had to stay in queue for three days to buy them. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: When Upper Tamakoshi Hydropower Limited auctioned off its rights shares in last December/January, investors had to stay in queue for three days to buy them. The company had placed 17 million shares up for auction from December 29 to January 14 while issuing 100% rights shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This process proved cumbersome for investors accustomed to the convenience of buying and selling shares through the My Share App. Many took to social media to express their frustration and suggested that an online system for applying to purchase auction shares would have been much more efficient. "Instead of filling out long documents for auction shares, it would be easier if it was possible to apply online," said Bishnu Parajuli, a stock investor from Pokhara.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, most applications for purchasing auction shares must be submitted in person at the sales manager's office. Parajuli pointed out that the sales managers’ offices are mostly confined within the Kathmandu Valley, making it difficult for investors from outside the valley to participate in the auction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Even though some companies have arrangements to apply at branch offices of certain banks, not all companies offer this convenience," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Following Upper Tamakoshi Hydropower Limited, companies like Ghalemdi Hydro, Sinagti Hydro Energy, Arun Valley, and Ridi Power also auctioned their unsold shares, requiring investors to queue at the sales managers’ offices to submit their applications.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Purna Prasad Acharya, Chief Executive Officer of CDS & Clearing Limited, acknowledged that while it is technically feasible to buy and sell auction shares online, the necessary rules and regulations must first be established. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"When applying online, if the bid price is leaked, others could adjust their bids accordingly, which poses a risk," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far, the Securities Board of Nepal has not implemented any legal provisions regarding online applications for auction shares. Navaraj Adhikari, a spokesperson for the board, noted that as the overall stock market becomes more technology-friendly, there should be provisions for online applications to purchase auction shares. </span></span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20967', 'image' => '20240611123934_1696395769.auction.jpg', 'article_date' => '2024-06-11 12:38:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21239', 'article_category_id' => '1', 'title' => 'Govt to Provide Loans of Rs 194 Million to 183 Startup Projects', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has selected a total of 183 startup enterprises to provide loans of Rs 194 million at subsidized interest rate for business expansion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has selected a total of 183 startup enterprises to provide loans of Rs 194 million at subsidized interest rate for business expansion. The Industrial Enterprise Development Institute (IEDI) has published the list of recommended projects and proponents for these projects entitled to receive the subsidized interest loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IEDI is an autonomous body established by the government which is tasked with developing human and knowledge resources for entrepreneurship and business promotion in Nepal through a number of impact-generating quality tools such as training, research, consultancy, enterprise education, and management development programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government had initially announced a policy to provide capital to entrepreneurs with innovative ideas but lacking investment sources in the budget for the fiscal year 2071/72. Despite this annual announcement, the policy was implemented only after a decade. According to the government's plan, selected startup entrepreneurs will receive loans at a subsidized interest rate of 3 percent per annum.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IEDI requested for project proposals from interested startup entrepreneurs on February 2. A total of 1,658 projects were registered for loans within the deadline of 21 days. Among them, the IEDI shortlisted 335 projects with a total proposed investment of Rs 360 million. Out of the 335 shortlisted entrepreneurs, 183 have been finalized to receive loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government’s policy entitles the selected startup projects to receive loans ranging from a minimum of Rs 500,000 to a maximum of Rs 2.5 million at an interest rate of 3 percent per annum. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the IEDI, Umesh Kumar Gupta, stated that the government will invest this amount in the selected projects. This year, the government has allocated Rs 250 million to support such projects. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Most of the selected projects will receive between Rs 1.5 million and Rs 1.7 million," Gupta said, adding, "Only 4 or 5 projects will receive Rs 2.5 million each."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of projects receiving the minimum Rs 500,000 is also few. The loans will be disbursed within the current year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has made an arrangement for the startup projects to avail the loans from the nearest branch of Rastriya Banijya Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Monday, the foundation announced the names of the projects entitled to receive the loans and their corresponding bank branches to clarify where each loan will be processed. According to Gupta, loans can be obtained from 183 branches of the Rastriya Banijya Bank across different districts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government issued the 'Startup Enterprise Loan Operation Procedure 2080' on January 25. Eligible projects must have been registered for less than 7 years, with a total paid-up capital between Rs 200,000 and Rs 1 million, an annual turnover not exceeding Rs 20 million, and fixed capital (excluding real estate) also not exceeding Rs 20 million. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20965', 'image' => '20240611123440_1606904006.start-up-businesss.jpg', 'article_date' => '2024-06-11 12:33:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21237', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Stands at Rs 1177.18 Billion Despite a Decline of 2.3 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal’s trade deficit decreased 2.3 percent to Rs 1177.18 billion in the first ten months of the current fiscal year due to the decline in imports and exports.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Nepal’s trade deficit decreased 2.3 percent to Rs 1177.18 billion in the first ten months of the current fiscal year due to the decline in imports and exports.</span></p> <p><span style="font-size:18px">According to the latest report of Nepal Rastra Bank, such deficit had decreased 15.9 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">Unveiling the Current Macroeconomic and Financial Situation Report of Nepal based on the ten months of current fiscal year on Monday, the central bank said that the export-import ratio decreased to 9.7 percent in the review period from 9.8 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">The merchandise exports decreased by 3.6 percent to Rs 126.17 billion in the review period compared to a decrease of 24.5 percent in the corresponding period of last fiscal year. </span></p> <p><span style="font-size:18px">Destination-wise, exports to India and other countries decreased 5.6 percent and 1.4 percent respectively, whereas exports to China increased 68.1 percent.</span></p> <p><span style="font-size:18px">According to the report, exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, tea, bran among others decreased.</span></p> <p> </p> <p><span style="font-size:18px">In the review period, merchandise imports also decreased 2.4 percent to Rs 1303.36 billion compared to a decrease of 16.8 percent a year ago.</span></p> <p><span style="font-size:18px">Destination-wise, imports from India and other countries decreased 3.4 percent and 20.8 percent respectively while imports from China increased 34.4 percent.</span></p> <p><span style="font-size:18px">Imports of transport equipment, vehicle and other vehicle spare parts, readymade garments, aircraft spare parts, electrical equipment, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></p> <p><span style="font-size:18px">Based on customs points, exports from Bhairahawa, Dry Port, Jaleswar, Kanchanpur, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Dry Port, Jaleshwar, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.</span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20964', 'image' => '20240611115627_20240610092832_202405200ort-export-business.jpg', 'article_date' => '2024-06-11 11:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21236', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Moderates to 4.4 Percent in Mid-May: NRB', 'sub_title' => '', 'summary' => 'KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year ago.', 'content' => '<p><span style="font-size:18px">KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year ago.</span></p> <p><span style="font-size:18px">According to the latest report of Nepal Rastra Bank, the food and beverage category inflation stood at 6.27 percent whereas non-food and service category inflation stood at 2.96 percent in the review month.</span></p> <p><span style="font-size:18px">Under the food and beverage category, the price index of vegetable sub-category increased 23.11 percent, pulses and legumes 10.85 percent, spices 8.98 percent, cereal grains and their products 7.42 percent and sugar and sugar products 7.25 percent in the review month, states the Current Macroeconomic and Financial Situation Report published by the central bank on Monday.</span></p> <p><span style="font-size:18px">Meanwhile, the y-o-y price index of ghee and oil sub-category decreased 7.13 percent in the review month.</span></p> <p><span style="font-size:18px">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain region stood at 4.30 percent, 4.32 percent, 4.70 percent and 4.22 percent respectively in the review month. Such inflation in these regions was 7.68 percent, 7.15 percent, 7.57 percent and 7.12 percent respectively a year ago, added the report</span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20963', 'image' => '20240611111613_20240610091817_20231215014318_inflation less.jpg', 'article_date' => '2024-06-11 11:15:27', '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' => '21254', 'article_category_id' => '1', 'title' => 'NEPSE Registers a 6.37-Point Gain to Close at 2121.62', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) rose slightly on Wednesday, gaining 6.37 points or 0.30% to close at 2121.62. This marks the fourth trading day of the week with a minimal increase.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 12: The Nepal Stock Exchange (NEPSE) rose slightly on Wednesday, gaining 6.37 points or 0.30% to close at 2121.62. This marks the fourth trading day of the week with a minimal increase.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the trading session, 312 different company stocks (scrips) were traded through total 74,858 transactions. A total of 12,950,407 units of shares changed hands, resulting into a total turnover of Rs 5.89 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) was the company with the highest turnover, recording transactions worth Rs 27 crore. Samriddhi Finance Limited (SFCL) and Mid Solu Hydropower Limited (MSHL) witnessed the most significant positive change, each gaining 10% and reaching the upper limit (positive circuit) for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the other hand, Sayapatri Hydropower Limited (SPHL) experienced the biggest loss, falling 4.48% and closing at a market price of Rs 533 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Looking at the sectoral performance, all sectors except for Hotels and Tourism, Hydropower, Non-Life Insurance, and Trading witnessed gains. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Finance Index enjoyed the highest increase at 1.07%, while the Hydropower Index suffered the most significant decline at 0.61%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20979', 'image' => '20240612032302_collage (30).jpg', 'article_date' => '2024-06-12 15:19:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21252', 'article_category_id' => '1', 'title' => 'Financial Irregularities Rampant at the Local Level', 'sub_title' => 'CIAA Receives 17,000 Complaints Against People's Representatives', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">BIJAY DAMASE</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The Commission for Investigation of Abuse of Authority (CIAA) has registered a case in the special court against six individuals, including the suspended mayor of Bagmati Municipality in Sarlahi, Bharat Kumar Thapa. Thapa was automatically suspended from his position following the provisions of the Prevention of Corruption Act after the CIAA filed a case on April 10, accusing him of illegally amassing wealth.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On Tuesday, the anti-graft body registered another case, alleging that Thapa and five others committed irregularities worth Rs 302.9 million in the construction of Bharat Tal in the municipality. The CIAA also filed charges against the municipality's deputy mayor, Leela Kumari Moktan, demanding a bond of Rs 302.9 million from her.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The initial case against Thapa claims he illegally earned Rs 53.3 million. The charge sheet details that Thapa had a legal income of Rs 78.6 million from mid-September 2017 to mid-February 2023 but invested and spent Rs 132 million during this period, leading to a discrepancy of Rs 53.3 million. The CIAA has demanded fines, punishment, and property confiscation for Thapa, asserting that he earned illegal property in the names of his wife Reshmi Kumari Ghimire, brother Ram Thapa, and daughter-in-law Dwarika Raut. They have also been made defendants in the case, with a demand for property confiscation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Recently, the CIAA filed another corruption case against 14 individuals, including Mayor Gajendra Maharjan of Lalitpur's Godavari Municipality, accusing them of causing a loss of Rs 1.487 billion to the government by under-invoicing tenders for sand and gravel excavation. CIAA claims these actions led to significant revenue loss from FY 2075/76 to 2079/80.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Yagyaraj Regmi, the information officer of the special court, the CIAA filed the case on the grounds of revenue embezzlement by issuing tenders below the government rate. Mayor Maharjan, elected from the Nepali Congress, was also elected in the local elections of 2074.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The CIAA is currently investigating numerous complaints against public representatives, with 10-12 cases filed monthly in the special court after investigations. Joint Secretary and Spokesperson of the CIAA, Narahari Ghimire, noted that complaints of corruption and irregularities are being prioritized. He indicated that the nature of the current cases suggests a misuse of power by people's representatives, and he anticipates an increase in complaints.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CIAA's report highlights financial irregularities in programs such as procurement, agricultural initiatives, small contracts, river product excavation, report preparation, and road construction. There is a significant number of complaints alleging that representatives have illegally profited by misusing their power, violating laws, and causing state revenue losses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This year, approximately 17,000 complaints have been filed against local representatives, making up about half of the total 33,000 complaints. This surge in complaints indicates that corruption has deeply rooted itself at the local level. The highest number of complaints have been made against representatives in Madhesh Province.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bhim Prasad Dhungana, chairman of the Municipal Association of Nepal, argued that corruption is less prevalent at the local level compared to the federal government. He emphasized that there are many local levels, which naturally leads to a higher number of complaints. He argued that there are 753 local governments in the country, compared to one federal and seven provincial governments. Dhungana suggested that allegations of widespread local corruption are attempts to weaken local governance. He also noted that many cases escalate due to anonymous complaints against public representatives.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, Ghimire mentioned that anonymous complaints are permitted to protect the complainant's privacy, and the authority investigates based on these complaints.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition to the CIAA's findings, the Auditor General's report also highlights financial indiscipline at the local level, noting worsening arrears and failure to follow procurement processes, leading to random fund disbursements.</span></span></span></p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => 'corruption, Nepal, CIAA, abuse, local, level, representatives, graft, case, charge', 'description' => '', 'sortorder' => '20978', 'image' => '20240612015257_CIAA eight by six.jpg', 'article_date' => '2024-06-12 13:52:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21251', 'article_category_id' => '1', 'title' => 'New Legal Provision Undermines SEBON’s Autonomy: Stakeholders', 'sub_title' => '', 'summary' => 'KATHMANDU: The post of chairman of the Securities Board of Nepal (SEBON) has been vacant since January 5, halting the process of public issuance of securities.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">PRAJITA BUDHATHOKI</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">KATHMANDU: The post of chairman of the Securities Board of Nepal (SEBON) has been vacant since January 5, halting the process of public issuance of securities. Despite this, the government has shown no urgency in appointing a new chairman.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had formed a recommendation committee for the appointment of the SEBON chair on January 17. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Among the aspiring candidates, the committee shortlisted five on April 7, but the government has yet to show interest in finalizing the appointment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government, which deliberately delayed the appointment of a new chairman, has assigned the responsibility of SEBON chairman to a trusted employee. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">An amendment to the Securities Act in mid-April allows a representative from the Ministry of Finance to assume the role of SEBON chairman until a new one is appointed. According to the amended provisions in Section 7 of the Securities Act 2063, if the position of chairman is vacant, a member representing the Ministry of Finance on the board can act as chairman, regardless of how long the appointment process takes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Under this new arrangement, Narendra Kumar Rana, a joint secretary of the Ministry of Finance, has been given the responsibility of SEBON chair. Rana assumed this role on May 21 after the legal amendment took effect on April 13. Previously, Ritesh Shakya, another joint secretary of the Ministry of Finance, held the position temporarily.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Narayan Paudel, chairman of SEBON’s Independent Employees' Organization, stated that the amendment allows the government to delay the appointment of a permanent chairman indefinitely. Paudel emphasized that an autonomous regulatory body should not be unduly influenced by government decisions, as the board's primary responsibility is to manage the issue, purchase, sale, distribution, and exchange of securities to protect investors' interests and develop the capital market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">This situation is reminiscent of an incident two years ago when the government attempted to remove Maha Prasad Adhikari, the governor of Nepal Rastra Bank, after he refused to serve the personal interests of the then Finance Minister Janardan Sharma. An inquiry committee was formed, suspending Adhikari, but the Supreme Court intervened and reinstated him, halting the removal process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government’s decision to hand over the responsibility of SEBON’s chairman to a representative of the Ministry of Finance has drawn widespread criticism. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Critics argue that the decision to assign the SEBON chairmanship to a Ministry of Finance representative undermines the autonomy of regulatory bodies and impedes the resumption of pending IPO issuances. They contend that the appointed person can only handle daily administration and lacks the authority to make significant progress.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Narendra Kumar Rana, now acting as SEBON chairman, has promised to address the stalled activities. "Since I have been given the responsibility of the board’s chairman, preparations are being made to make the market viable," said Rana.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => 'sebon, chair, securities, IPO, Nepal, delay, appoint, urgency, autonomy', 'description' => '', 'sortorder' => '20977', 'image' => '20240612012614_Sebon-update.jpg', 'article_date' => '2024-06-12 13:23:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21250', 'article_category_id' => '1', 'title' => 'Customs Clearance of Vehicles at Birgunj Customs Increasing', 'sub_title' => '', 'summary' => 'BIRGUNJ: Importers have stepped up customs clearance of vehicles from Birgunj customs, the country's main trade point.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">BIRGUNJ: Importers have stepped up customs clearance of vehicles from Birgunj customs, the country's main trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The importers have started customs clearance of vehicles that were stuck at Birgunj Integrated Check Post and Dry Port for a long time. Along with this, the government officials said that newly imported vehicles are also getting customs clearance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">According to Kamal Gyawali, head of Nepal Intermodal Transport Development Committee, Birgunj, the number of new vehicles passing the customs clearance has been higher than those entering the customs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">At present, 983 new imported vehicles are awaiting customs clearance at the Integrated Check Point and 86 at Dry Port Customs. Gyawali said that most of them are jeeps, cars and vans. Chassis of trucks and buses are also being imported through the customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The data shows that the import of vehicles has decreased since the onset of the coronavirus pandemic. As the demand for vehicles in the market decreased, the imported vehicles were kept on the customs premises by the importers. Demand was also affected due to the government's import control policy and recession due to the coronavirus pandemic. Importers have said that now the demand for vehicles has increased and the customs clearance of old and new vehicles is increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">As of last April, the number of vehicles piled up at the ICP due to the delay in customs clearance stood at 2,300. Gyawali said this number has gradually decreased due to the rise in customs clearance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif""> "After the importers started releasing the vehicles, the piling up of such vehicles at the customs has started to decrease. At one point, there was a difficulty in managing the parking lot of vehicles at the customs office, but now that problem has been solved,” he said. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20976', 'image' => '20240612123534_20220815011457_1660393906.jpg', 'article_date' => '2024-06-12 12:34:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21249', 'article_category_id' => '1', 'title' => 'Discussion on Appropriation Bill Begins ', 'sub_title' => '', 'summary' => 'KATHMANDU: Discussion on different headings of the Appropriation Bill, 2081, has commenced in the House of Representatives from Tuesday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Discussion on different headings of the Appropriation Bill, 2081, has commenced in the House of Representatives from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Discussion on various headings of the Ministry of Youth and Sports, Ministry of Education, Science and Technology, Ministry of Labour, Employment and Social Security and Ministry of Agriculture and Livestock Development has started. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In course of discussion, Ram Hari Khatiwada raised question about absence of Minister for Youth and Sports in the Parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, lawmakers Chandra Kant Bhandari, Menuka Kumari Pokharel, Devendra Poudel, Dhawal Shumsher JB Rana, Amar Bahadur Thapa, Ranju Kumari Jha, Abdul Khan, Ram Prakash Chaudhary, Prabhu Sah, Yogendra Mandal, Ram Hari Khatiwada, Sarita Bhusal, Gyanu Basnet Subedi, among others participated in the discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before the discussion, lawmaker Prem Suwal presented a proposal to reduce the expenditure of the Ministry of Education, Science and Technology and Ministry of Labour, Employment and Social Security under the Appropriation Bill, 2081. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, HoR member Dr Amaresh Kumar Singh proposed that the expenses of Ministry of Education, Science and Technology, Ministry of Labour, Employment and Social Security and Ministry of Agriculture and Livestock Development be reduced. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Badri Prasad Pandey, Rama Koirala and Sanjay Kumar Gautam asked to reduce the expenses of different ministries. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20975', 'image' => '20240612113307_Parliament RSS 800.jpg', 'article_date' => '2024-06-12 11:32:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21247', 'article_category_id' => '1', 'title' => 'Monsoon Arrival in Kathmandu to Take a Few More Days ', 'sub_title' => '', 'summary' => 'KATHMANDU: Even though the monsoon entered Nepal on June 10, it will take a few more days for the monsoon to enter the Kathmandu Valley. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Even though the monsoon entered Nepal on June 10, it will take a few more days for the monsoon to enter the Kathmandu Valley. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">T<span style="font-family:"Arial Unicode MS","sans-serif"">he influence of the monsoon system in currently felt in the eastern parts of the country while the rest of the country is being impacted by the local and westerly winds as well as low pressure system formed around Bihar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Department of Hydrology and Meteorology Sanjeev Adhikari said there are slim chances of rainfall in the Kathmandu Valley today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The maximum temperature is expected to remain in between 32 and 34 degrees Celsius. The weather will be partly to generally cloudy in the hill regions of the country including Sudurpaschim, Karnali and Koshi provinces and fair in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is also taking place at one or two places of Koshi Province. The weather will be partly to generally cloudy in the hill regions of Bagmati and Gandaki provinces and mainly fair in the rest of the country this afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Meteorological Forecasting Division has predicted partly to generally cloudy in the hill regions of Koshi and Gandaki provinces and partly fair in the rest of the country tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light to moderate rain accompanied by thunder and lightning is likely to occur at some places of the hill regions of Koshi and Gandaki provinces. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20974', 'image' => '20240612110759_20240610063405_20240604114336_20210626022910_Monsoon.jpeg', 'article_date' => '2024-06-12 11:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21248', 'article_category_id' => '1', 'title' => 'Nepal-Sri Lanka Match Cancelled due to Rain ', 'sub_title' => '', 'summary' => 'KATHMANDU: The match between Nepal and Sri Lanka under the ICC T20 World Cup Cricket Tournament has been cancelled due to rain. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The match between Nepal and Sri Lanka under the ICC T20 World Cup Cricket Tournament has been cancelled due to rain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The match was scheduled to start at 5:15 am today at the Broard County Ground in Florida, but was canceled due to continuous rain. With the cancellation of the match, both the teams shared one point each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has gained one point from two matches in the World Cup while Sri Lanka has one point from three matches. Nepal’s hopes of entering the next round is still alive in the world cup. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20973', 'image' => '20240612111603_GPzMwNUbMAA7LhY.jpg', 'article_date' => '2024-06-12 11:15:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21246', 'article_category_id' => '1', 'title' => 'Central and Western Tarai Likely to Experience Excessive Heat for Three Days', 'sub_title' => '', 'summary' => 'Excessive heat has been forecast for the next three days in the central and western Tarai regions.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 11: Excessive heat has been forecast for the next three days in the central and western Tarai regions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has reported that temperatures in some parts of the southern plains of Sudurpaschim and Lumbini provinces have recently soared to 40 degrees Celsius or higher.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In a special bulletin issued today, the Division forecasts the occurrence of a heat wave for the next three days starting from today. It has urged everyone to take precautions against the adverse weather conditions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Symptoms of heat wave-related illness include fatigue, weakness, increased thirst, headache, muscle cramps, dizziness, muscle pain, vomiting, and even unconsciousness.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Division advises the public to take precautions to mitigate the risks associated with the heat wave. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">People have been advised to stay indoors in cool areas, wear lightweight cotton clothing, avoid direct sun exposure, wear hats when outdoors, and consume plenty of fruits, water, and fluids such as fresh juice. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20972', 'image' => '20240611052645_collage (10).jpg', 'article_date' => '2024-06-11 17:25:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21245', 'article_category_id' => '1', 'title' => 'NEPSE Gains 33.15 Points to Close at 2115.24', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a significant increase of 33.15 points, or 1.59%, closing at 2115.24 on Tuesday, the third trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 11: The Nepal Stock Exchange (NEPSE) Index saw a significant increase of 33.15 points, or 1.59%, closing at 2115.24 on Tuesday, the third trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, a total of 311 scrips were traded through 74,877 transactions on NEPSE. A total of 12,665,329 units of shares were exchanged, resulting in a total turnover of Rs 5.55 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRN Infrastructure and Development Fund Limited (NRN) led in turnover with transactions worth Rs 36 crores. Barun Hydro Power Company Limited (BARUN), Green Ventures Limited (GVL), and Kutheli Bukhari Small Hydropower Limited (KBSH) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Samling Power Company Limited (SPC) experienced the largest loss, dropping 5.81%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the green. The Hydropower Index gained the most at 2.58%, while the Manufacturing and Processing Index had the smallest gain at 0.40%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20971', 'image' => '20240611035724_collage (9).jpg', 'article_date' => '2024-06-11 15:56:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21244', 'article_category_id' => '1', 'title' => 'Farmers Demand Reasonable Price for Paddy ', 'sub_title' => '', 'summary' => 'BANIYANI: Farmers of Jhapa district have been worried about not getting proper market for the paddy they produced. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BANIYANI: Farmers of Jhapa district have been worried about not getting proper market for the paddy they produced. The demand for pre-monsoon paddy is discouraging, says Durga Prasad Thapa, a farmer from Kanchankawal rural municipality-2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The paddy is ripe in the field for harvest but the slump in the price has distressed farmers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They were selling the rice at Rs 1,050 to Rs 1,200 per maan (40 kilograms) some days back. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa, who is also a member of rice super zone coordination committee, shared that the government, which encourages production of paddy, should also manage sales and marketing of paddy.</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 paddy production will increase this year, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another farmer Toyanath Mishra from Kachankawal-3 said, "Although we sold 40 kgs of rice for Rs 1,200 in the beginning, the price has declined heavily now and is being traded for Rs 900 per 40 kgs. It is the peak time for harvesting and sale of paddy, but declining price is a cause of concern." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Since<span style="font-family:"Arial Unicode MS","sans-serif""> the Chaite dhan or pre-monsoon paddy is not as dry as the normal rice, it is not practical for farmers to store them. So, the farmers have no option but to sell them immediately after threshing in the field. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Despite loss, we are bound to sell the Chaite dhan," Mishra shared his plight, adding that they are is not sold on time, they will decay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, on March 28, the government had decided to fix the minimum support price of Chaite dhan at Rs 2,707 per quintal. Such rice should not have more than 18 percent wetness. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The farmers are worried because they are forced to sell the paddy at a price less than the minimum support price fixed by the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20970', 'image' => '20240611013516_20240126015111_paddyyy-transformed.jpeg', 'article_date' => '2024-06-11 13:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21243', 'article_category_id' => '1', 'title' => 'Dhalkebar-Inaruwa Transmission Line to Facilitate Export of 4,000 Megawatts of Electricity', 'sub_title' => '', 'summary' => 'KATHMANDU: The construction of the Dhalkebar-Inaruwa 400 kV transmission line has been completed, enabling the transmission of 4,000 megawatts of electricity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The construction of the Dhalkebar-Inaruwa 400 kV transmission line has been completed, enabling the transmission of 4,000 megawatts of electricity. This project is part of the Hetaunda-Dhalkebar-Inaruwa 400 kV transmission line initiative, aimed at enhancing the reliability of the electricity transmission system within Nepal and expanding electricity trade with India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The 154 km double circuit transmission line runs from Dhalkebar in Dhanusha to the Inaruwa Substation in Sunsari. Meanwhile, the 288 km transmission line from the Hetaunda substation in Makwanpur to the Inaruwa substation is being constructed in two sections. The Dhalkebar-Inaruwa section is complete, and the Hetaunda-Dhalkebar section is still under construction.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Executive Director of Nepal Electricity Authority, Kulman Ghising, highlighted that the completion of the Dhalkebar-Inaruwa section is a significant milestone, improving the country's transmission system's quality and reliability and increasing electricity trade between Nepal and India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Currently, the Dhalkebar-Muzaffarpur cross-border transmission line imports and exports only 800 megawatts of electricity due to the infrastructure limitations. However, once complete, the Dhalkebar-Inaruwa transmission line will allow for excess electricity to be exported to India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, during winter, the existing 132 kV transmission line from Dhalkebar to Inaruwa struggled to handle the load, often nearing the breaking point. With the new 400 kV line, voltage issues will been resolved, and power supply to the Morang-Sunsari industrial corridor will improved significantly.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Inaruwa 400 kV substation is already operational. To further enhance the power supply in the Sunsari-Morang industrial corridor, the old conductor of the Inaruwa-Duhbi 132 kV transmission line is being replaced with a high-capacity HTLS conductor. This upgrade will almost double the transmission line's capacity, which currently transmits about 200 megawatts of electricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Proposals have been made for the Inaruwa-Purnia transmission line for power trade with India and the Inaruwa-Anaramani 400 kV transmission line for trade between Nepal, India, and Bangladesh, with funding from the Korean Export-Import (EXIM) Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Dhalkebar-Inaruwa section includes 417 towers. A deep pile foundation (24-32 meters) has been laid for the 5 km transmission line on the Koshi river, with each of the 11 towers in this segment having 16 pile foundations. The project faced complications two years ago when a flood in the Koshi river swept away one of the towers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Project Director Shyam Kumar Yadav noted that the construction was impacted by the COVID-19 pandemic, floods, local obstructions, a Supreme Court interim order, and the procedural delay in forest area land use and tree felling process. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In Siraha, the work was halted for four years due to a court order, necessitating three preliminary environmental impact assessments (IEAs). With the Dhalkebar-Inaruwa section now completed, efforts are focused on the Dhalkebar-Hetaunda section, with 45 km of wire already laid.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Local residents in Hetaunda sub-metropolitan wards 15, 16, and 17 have been obstructing construction for about seven years, demanding a shift in the route. Sixteen towers remain to be built, 14 in the Hatia area and two in Thanabharyang, Hetaunda-11.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Hetaunda-Dhalkebar-Inaruwa transmission line project spans along the hill region, Shivalik-Chure range, and Terai regions, covering 10 districts: Makwanpur, Bara, Rautahat, Sarlahi, Mahottari, Dhanusha, Siraha, Saptari, Udayapur, and Sunsari. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The contract was signed in January 2012 AD with the aim of completing it within 30 months. The 400 kV transmission line mostly runs parallel to the existing 132 kV transmission line and the East-West Highway. The right-of-way is 23 meters on either side from the center point of the transmission line. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The project involves clearing 518 hectares of forest and acquiring 30 hectares of private agricultural land, affecting 475 hectares of private land and 171 houses and structures. Compensation for the right-of-way in the Dhalkebar-Inaruwa section alone cost about Rs 5 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">With an estimated cost of $170 million, the project is part of the Nepal-India Power Transmission and Trade Project, funded by the Government of Nepal, the Nepal Electricity Authority and concessional loans from the World Bank. After the World Bank loan period ended, the funding for the remaining works of the project is being bankrolled by the government and the NEA.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20969', 'image' => '20240611013350_20231120013615_20230716115331_eee.jpg', 'article_date' => '2024-06-11 13:32:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21241', 'article_category_id' => '1', 'title' => 'Physical Presence Still Mandatory to Buy Shares through Auction', 'sub_title' => '', 'summary' => 'KATHMANDU: When Upper Tamakoshi Hydropower Limited auctioned off its rights shares in last December/January, investors had to stay in queue for three days to buy them. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: When Upper Tamakoshi Hydropower Limited auctioned off its rights shares in last December/January, investors had to stay in queue for three days to buy them. The company had placed 17 million shares up for auction from December 29 to January 14 while issuing 100% rights shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This process proved cumbersome for investors accustomed to the convenience of buying and selling shares through the My Share App. Many took to social media to express their frustration and suggested that an online system for applying to purchase auction shares would have been much more efficient. "Instead of filling out long documents for auction shares, it would be easier if it was possible to apply online," said Bishnu Parajuli, a stock investor from Pokhara.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, most applications for purchasing auction shares must be submitted in person at the sales manager's office. Parajuli pointed out that the sales managers’ offices are mostly confined within the Kathmandu Valley, making it difficult for investors from outside the valley to participate in the auction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Even though some companies have arrangements to apply at branch offices of certain banks, not all companies offer this convenience," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Following Upper Tamakoshi Hydropower Limited, companies like Ghalemdi Hydro, Sinagti Hydro Energy, Arun Valley, and Ridi Power also auctioned their unsold shares, requiring investors to queue at the sales managers’ offices to submit their applications.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Purna Prasad Acharya, Chief Executive Officer of CDS & Clearing Limited, acknowledged that while it is technically feasible to buy and sell auction shares online, the necessary rules and regulations must first be established. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"When applying online, if the bid price is leaked, others could adjust their bids accordingly, which poses a risk," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far, the Securities Board of Nepal has not implemented any legal provisions regarding online applications for auction shares. Navaraj Adhikari, a spokesperson for the board, noted that as the overall stock market becomes more technology-friendly, there should be provisions for online applications to purchase auction shares. </span></span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20967', 'image' => '20240611123934_1696395769.auction.jpg', 'article_date' => '2024-06-11 12:38:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21239', 'article_category_id' => '1', 'title' => 'Govt to Provide Loans of Rs 194 Million to 183 Startup Projects', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has selected a total of 183 startup enterprises to provide loans of Rs 194 million at subsidized interest rate for business expansion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has selected a total of 183 startup enterprises to provide loans of Rs 194 million at subsidized interest rate for business expansion. The Industrial Enterprise Development Institute (IEDI) has published the list of recommended projects and proponents for these projects entitled to receive the subsidized interest loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IEDI is an autonomous body established by the government which is tasked with developing human and knowledge resources for entrepreneurship and business promotion in Nepal through a number of impact-generating quality tools such as training, research, consultancy, enterprise education, and management development programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government had initially announced a policy to provide capital to entrepreneurs with innovative ideas but lacking investment sources in the budget for the fiscal year 2071/72. Despite this annual announcement, the policy was implemented only after a decade. According to the government's plan, selected startup entrepreneurs will receive loans at a subsidized interest rate of 3 percent per annum.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IEDI requested for project proposals from interested startup entrepreneurs on February 2. A total of 1,658 projects were registered for loans within the deadline of 21 days. Among them, the IEDI shortlisted 335 projects with a total proposed investment of Rs 360 million. Out of the 335 shortlisted entrepreneurs, 183 have been finalized to receive loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government’s policy entitles the selected startup projects to receive loans ranging from a minimum of Rs 500,000 to a maximum of Rs 2.5 million at an interest rate of 3 percent per annum. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the IEDI, Umesh Kumar Gupta, stated that the government will invest this amount in the selected projects. This year, the government has allocated Rs 250 million to support such projects. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Most of the selected projects will receive between Rs 1.5 million and Rs 1.7 million," Gupta said, adding, "Only 4 or 5 projects will receive Rs 2.5 million each."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of projects receiving the minimum Rs 500,000 is also few. The loans will be disbursed within the current year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has made an arrangement for the startup projects to avail the loans from the nearest branch of Rastriya Banijya Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Monday, the foundation announced the names of the projects entitled to receive the loans and their corresponding bank branches to clarify where each loan will be processed. According to Gupta, loans can be obtained from 183 branches of the Rastriya Banijya Bank across different districts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government issued the 'Startup Enterprise Loan Operation Procedure 2080' on January 25. Eligible projects must have been registered for less than 7 years, with a total paid-up capital between Rs 200,000 and Rs 1 million, an annual turnover not exceeding Rs 20 million, and fixed capital (excluding real estate) also not exceeding Rs 20 million. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20965', 'image' => '20240611123440_1606904006.start-up-businesss.jpg', 'article_date' => '2024-06-11 12:33:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21237', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Stands at Rs 1177.18 Billion Despite a Decline of 2.3 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal’s trade deficit decreased 2.3 percent to Rs 1177.18 billion in the first ten months of the current fiscal year due to the decline in imports and exports.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Nepal’s trade deficit decreased 2.3 percent to Rs 1177.18 billion in the first ten months of the current fiscal year due to the decline in imports and exports.</span></p> <p><span style="font-size:18px">According to the latest report of Nepal Rastra Bank, such deficit had decreased 15.9 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">Unveiling the Current Macroeconomic and Financial Situation Report of Nepal based on the ten months of current fiscal year on Monday, the central bank said that the export-import ratio decreased to 9.7 percent in the review period from 9.8 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">The merchandise exports decreased by 3.6 percent to Rs 126.17 billion in the review period compared to a decrease of 24.5 percent in the corresponding period of last fiscal year. </span></p> <p><span style="font-size:18px">Destination-wise, exports to India and other countries decreased 5.6 percent and 1.4 percent respectively, whereas exports to China increased 68.1 percent.</span></p> <p><span style="font-size:18px">According to the report, exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, tea, bran among others decreased.</span></p> <p> </p> <p><span style="font-size:18px">In the review period, merchandise imports also decreased 2.4 percent to Rs 1303.36 billion compared to a decrease of 16.8 percent a year ago.</span></p> <p><span style="font-size:18px">Destination-wise, imports from India and other countries decreased 3.4 percent and 20.8 percent respectively while imports from China increased 34.4 percent.</span></p> <p><span style="font-size:18px">Imports of transport equipment, vehicle and other vehicle spare parts, readymade garments, aircraft spare parts, electrical equipment, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></p> <p><span style="font-size:18px">Based on customs points, exports from Bhairahawa, Dry Port, Jaleswar, Kanchanpur, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Dry Port, Jaleshwar, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.</span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20964', 'image' => '20240611115627_20240610092832_202405200ort-export-business.jpg', 'article_date' => '2024-06-11 11:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21236', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Moderates to 4.4 Percent in Mid-May: NRB', 'sub_title' => '', 'summary' => 'KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year ago.', 'content' => '<p><span style="font-size:18px">KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year ago.</span></p> <p><span style="font-size:18px">According to the latest report of Nepal Rastra Bank, the food and beverage category inflation stood at 6.27 percent whereas non-food and service category inflation stood at 2.96 percent in the review month.</span></p> <p><span style="font-size:18px">Under the food and beverage category, the price index of vegetable sub-category increased 23.11 percent, pulses and legumes 10.85 percent, spices 8.98 percent, cereal grains and their products 7.42 percent and sugar and sugar products 7.25 percent in the review month, states the Current Macroeconomic and Financial Situation Report published by the central bank on Monday.</span></p> <p><span style="font-size:18px">Meanwhile, the y-o-y price index of ghee and oil sub-category decreased 7.13 percent in the review month.</span></p> <p><span style="font-size:18px">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain region stood at 4.30 percent, 4.32 percent, 4.70 percent and 4.22 percent respectively in the review month. Such inflation in these regions was 7.68 percent, 7.15 percent, 7.57 percent and 7.12 percent respectively a year ago, added the report</span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20963', 'image' => '20240611111613_20240610091817_20231215014318_inflation less.jpg', 'article_date' => '2024-06-11 11:15:27', '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' => '21254', 'article_category_id' => '1', 'title' => 'NEPSE Registers a 6.37-Point Gain to Close at 2121.62', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) rose slightly on Wednesday, gaining 6.37 points or 0.30% to close at 2121.62. This marks the fourth trading day of the week with a minimal increase.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 12: The Nepal Stock Exchange (NEPSE) rose slightly on Wednesday, gaining 6.37 points or 0.30% to close at 2121.62. This marks the fourth trading day of the week with a minimal increase.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the trading session, 312 different company stocks (scrips) were traded through total 74,858 transactions. A total of 12,950,407 units of shares changed hands, resulting into a total turnover of Rs 5.89 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) was the company with the highest turnover, recording transactions worth Rs 27 crore. Samriddhi Finance Limited (SFCL) and Mid Solu Hydropower Limited (MSHL) witnessed the most significant positive change, each gaining 10% and reaching the upper limit (positive circuit) for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the other hand, Sayapatri Hydropower Limited (SPHL) experienced the biggest loss, falling 4.48% and closing at a market price of Rs 533 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Looking at the sectoral performance, all sectors except for Hotels and Tourism, Hydropower, Non-Life Insurance, and Trading witnessed gains. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Finance Index enjoyed the highest increase at 1.07%, while the Hydropower Index suffered the most significant decline at 0.61%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20979', 'image' => '20240612032302_collage (30).jpg', 'article_date' => '2024-06-12 15:19:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21252', 'article_category_id' => '1', 'title' => 'Financial Irregularities Rampant at the Local Level', 'sub_title' => 'CIAA Receives 17,000 Complaints Against People's Representatives', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">BIJAY DAMASE</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The Commission for Investigation of Abuse of Authority (CIAA) has registered a case in the special court against six individuals, including the suspended mayor of Bagmati Municipality in Sarlahi, Bharat Kumar Thapa. Thapa was automatically suspended from his position following the provisions of the Prevention of Corruption Act after the CIAA filed a case on April 10, accusing him of illegally amassing wealth.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On Tuesday, the anti-graft body registered another case, alleging that Thapa and five others committed irregularities worth Rs 302.9 million in the construction of Bharat Tal in the municipality. The CIAA also filed charges against the municipality's deputy mayor, Leela Kumari Moktan, demanding a bond of Rs 302.9 million from her.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The initial case against Thapa claims he illegally earned Rs 53.3 million. The charge sheet details that Thapa had a legal income of Rs 78.6 million from mid-September 2017 to mid-February 2023 but invested and spent Rs 132 million during this period, leading to a discrepancy of Rs 53.3 million. The CIAA has demanded fines, punishment, and property confiscation for Thapa, asserting that he earned illegal property in the names of his wife Reshmi Kumari Ghimire, brother Ram Thapa, and daughter-in-law Dwarika Raut. They have also been made defendants in the case, with a demand for property confiscation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Recently, the CIAA filed another corruption case against 14 individuals, including Mayor Gajendra Maharjan of Lalitpur's Godavari Municipality, accusing them of causing a loss of Rs 1.487 billion to the government by under-invoicing tenders for sand and gravel excavation. CIAA claims these actions led to significant revenue loss from FY 2075/76 to 2079/80.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Yagyaraj Regmi, the information officer of the special court, the CIAA filed the case on the grounds of revenue embezzlement by issuing tenders below the government rate. Mayor Maharjan, elected from the Nepali Congress, was also elected in the local elections of 2074.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The CIAA is currently investigating numerous complaints against public representatives, with 10-12 cases filed monthly in the special court after investigations. Joint Secretary and Spokesperson of the CIAA, Narahari Ghimire, noted that complaints of corruption and irregularities are being prioritized. He indicated that the nature of the current cases suggests a misuse of power by people's representatives, and he anticipates an increase in complaints.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CIAA's report highlights financial irregularities in programs such as procurement, agricultural initiatives, small contracts, river product excavation, report preparation, and road construction. There is a significant number of complaints alleging that representatives have illegally profited by misusing their power, violating laws, and causing state revenue losses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This year, approximately 17,000 complaints have been filed against local representatives, making up about half of the total 33,000 complaints. This surge in complaints indicates that corruption has deeply rooted itself at the local level. The highest number of complaints have been made against representatives in Madhesh Province.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bhim Prasad Dhungana, chairman of the Municipal Association of Nepal, argued that corruption is less prevalent at the local level compared to the federal government. He emphasized that there are many local levels, which naturally leads to a higher number of complaints. He argued that there are 753 local governments in the country, compared to one federal and seven provincial governments. Dhungana suggested that allegations of widespread local corruption are attempts to weaken local governance. He also noted that many cases escalate due to anonymous complaints against public representatives.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, Ghimire mentioned that anonymous complaints are permitted to protect the complainant's privacy, and the authority investigates based on these complaints.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition to the CIAA's findings, the Auditor General's report also highlights financial indiscipline at the local level, noting worsening arrears and failure to follow procurement processes, leading to random fund disbursements.</span></span></span></p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => 'corruption, Nepal, CIAA, abuse, local, level, representatives, graft, case, charge', 'description' => '', 'sortorder' => '20978', 'image' => '20240612015257_CIAA eight by six.jpg', 'article_date' => '2024-06-12 13:52:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21251', 'article_category_id' => '1', 'title' => 'New Legal Provision Undermines SEBON’s Autonomy: Stakeholders', 'sub_title' => '', 'summary' => 'KATHMANDU: The post of chairman of the Securities Board of Nepal (SEBON) has been vacant since January 5, halting the process of public issuance of securities.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">PRAJITA BUDHATHOKI</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">KATHMANDU: The post of chairman of the Securities Board of Nepal (SEBON) has been vacant since January 5, halting the process of public issuance of securities. Despite this, the government has shown no urgency in appointing a new chairman.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had formed a recommendation committee for the appointment of the SEBON chair on January 17. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Among the aspiring candidates, the committee shortlisted five on April 7, but the government has yet to show interest in finalizing the appointment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government, which deliberately delayed the appointment of a new chairman, has assigned the responsibility of SEBON chairman to a trusted employee. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">An amendment to the Securities Act in mid-April allows a representative from the Ministry of Finance to assume the role of SEBON chairman until a new one is appointed. According to the amended provisions in Section 7 of the Securities Act 2063, if the position of chairman is vacant, a member representing the Ministry of Finance on the board can act as chairman, regardless of how long the appointment process takes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Under this new arrangement, Narendra Kumar Rana, a joint secretary of the Ministry of Finance, has been given the responsibility of SEBON chair. Rana assumed this role on May 21 after the legal amendment took effect on April 13. Previously, Ritesh Shakya, another joint secretary of the Ministry of Finance, held the position temporarily.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Narayan Paudel, chairman of SEBON’s Independent Employees' Organization, stated that the amendment allows the government to delay the appointment of a permanent chairman indefinitely. Paudel emphasized that an autonomous regulatory body should not be unduly influenced by government decisions, as the board's primary responsibility is to manage the issue, purchase, sale, distribution, and exchange of securities to protect investors' interests and develop the capital market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">This situation is reminiscent of an incident two years ago when the government attempted to remove Maha Prasad Adhikari, the governor of Nepal Rastra Bank, after he refused to serve the personal interests of the then Finance Minister Janardan Sharma. An inquiry committee was formed, suspending Adhikari, but the Supreme Court intervened and reinstated him, halting the removal process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government’s decision to hand over the responsibility of SEBON’s chairman to a representative of the Ministry of Finance has drawn widespread criticism. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Critics argue that the decision to assign the SEBON chairmanship to a Ministry of Finance representative undermines the autonomy of regulatory bodies and impedes the resumption of pending IPO issuances. They contend that the appointed person can only handle daily administration and lacks the authority to make significant progress.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Narendra Kumar Rana, now acting as SEBON chairman, has promised to address the stalled activities. "Since I have been given the responsibility of the board’s chairman, preparations are being made to make the market viable," said Rana.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => 'sebon, chair, securities, IPO, Nepal, delay, appoint, urgency, autonomy', 'description' => '', 'sortorder' => '20977', 'image' => '20240612012614_Sebon-update.jpg', 'article_date' => '2024-06-12 13:23:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21250', 'article_category_id' => '1', 'title' => 'Customs Clearance of Vehicles at Birgunj Customs Increasing', 'sub_title' => '', 'summary' => 'BIRGUNJ: Importers have stepped up customs clearance of vehicles from Birgunj customs, the country's main trade point.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">BIRGUNJ: Importers have stepped up customs clearance of vehicles from Birgunj customs, the country's main trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The importers have started customs clearance of vehicles that were stuck at Birgunj Integrated Check Post and Dry Port for a long time. Along with this, the government officials said that newly imported vehicles are also getting customs clearance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">According to Kamal Gyawali, head of Nepal Intermodal Transport Development Committee, Birgunj, the number of new vehicles passing the customs clearance has been higher than those entering the customs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">At present, 983 new imported vehicles are awaiting customs clearance at the Integrated Check Point and 86 at Dry Port Customs. Gyawali said that most of them are jeeps, cars and vans. Chassis of trucks and buses are also being imported through the customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The data shows that the import of vehicles has decreased since the onset of the coronavirus pandemic. As the demand for vehicles in the market decreased, the imported vehicles were kept on the customs premises by the importers. Demand was also affected due to the government's import control policy and recession due to the coronavirus pandemic. Importers have said that now the demand for vehicles has increased and the customs clearance of old and new vehicles is increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">As of last April, the number of vehicles piled up at the ICP due to the delay in customs clearance stood at 2,300. Gyawali said this number has gradually decreased due to the rise in customs clearance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif""> "After the importers started releasing the vehicles, the piling up of such vehicles at the customs has started to decrease. At one point, there was a difficulty in managing the parking lot of vehicles at the customs office, but now that problem has been solved,” he said. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20976', 'image' => '20240612123534_20220815011457_1660393906.jpg', 'article_date' => '2024-06-12 12:34:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21249', 'article_category_id' => '1', 'title' => 'Discussion on Appropriation Bill Begins ', 'sub_title' => '', 'summary' => 'KATHMANDU: Discussion on different headings of the Appropriation Bill, 2081, has commenced in the House of Representatives from Tuesday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Discussion on different headings of the Appropriation Bill, 2081, has commenced in the House of Representatives from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Discussion on various headings of the Ministry of Youth and Sports, Ministry of Education, Science and Technology, Ministry of Labour, Employment and Social Security and Ministry of Agriculture and Livestock Development has started. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In course of discussion, Ram Hari Khatiwada raised question about absence of Minister for Youth and Sports in the Parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, lawmakers Chandra Kant Bhandari, Menuka Kumari Pokharel, Devendra Poudel, Dhawal Shumsher JB Rana, Amar Bahadur Thapa, Ranju Kumari Jha, Abdul Khan, Ram Prakash Chaudhary, Prabhu Sah, Yogendra Mandal, Ram Hari Khatiwada, Sarita Bhusal, Gyanu Basnet Subedi, among others participated in the discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before the discussion, lawmaker Prem Suwal presented a proposal to reduce the expenditure of the Ministry of Education, Science and Technology and Ministry of Labour, Employment and Social Security under the Appropriation Bill, 2081. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, HoR member Dr Amaresh Kumar Singh proposed that the expenses of Ministry of Education, Science and Technology, Ministry of Labour, Employment and Social Security and Ministry of Agriculture and Livestock Development be reduced. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Badri Prasad Pandey, Rama Koirala and Sanjay Kumar Gautam asked to reduce the expenses of different ministries. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20975', 'image' => '20240612113307_Parliament RSS 800.jpg', 'article_date' => '2024-06-12 11:32:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21247', 'article_category_id' => '1', 'title' => 'Monsoon Arrival in Kathmandu to Take a Few More Days ', 'sub_title' => '', 'summary' => 'KATHMANDU: Even though the monsoon entered Nepal on June 10, it will take a few more days for the monsoon to enter the Kathmandu Valley. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Even though the monsoon entered Nepal on June 10, it will take a few more days for the monsoon to enter the Kathmandu Valley. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">T<span style="font-family:"Arial Unicode MS","sans-serif"">he influence of the monsoon system in currently felt in the eastern parts of the country while the rest of the country is being impacted by the local and westerly winds as well as low pressure system formed around Bihar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Department of Hydrology and Meteorology Sanjeev Adhikari said there are slim chances of rainfall in the Kathmandu Valley today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The maximum temperature is expected to remain in between 32 and 34 degrees Celsius. The weather will be partly to generally cloudy in the hill regions of the country including Sudurpaschim, Karnali and Koshi provinces and fair in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is also taking place at one or two places of Koshi Province. The weather will be partly to generally cloudy in the hill regions of Bagmati and Gandaki provinces and mainly fair in the rest of the country this afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Meteorological Forecasting Division has predicted partly to generally cloudy in the hill regions of Koshi and Gandaki provinces and partly fair in the rest of the country tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light to moderate rain accompanied by thunder and lightning is likely to occur at some places of the hill regions of Koshi and Gandaki provinces. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20974', 'image' => '20240612110759_20240610063405_20240604114336_20210626022910_Monsoon.jpeg', 'article_date' => '2024-06-12 11:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21248', 'article_category_id' => '1', 'title' => 'Nepal-Sri Lanka Match Cancelled due to Rain ', 'sub_title' => '', 'summary' => 'KATHMANDU: The match between Nepal and Sri Lanka under the ICC T20 World Cup Cricket Tournament has been cancelled due to rain. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The match between Nepal and Sri Lanka under the ICC T20 World Cup Cricket Tournament has been cancelled due to rain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The match was scheduled to start at 5:15 am today at the Broard County Ground in Florida, but was canceled due to continuous rain. With the cancellation of the match, both the teams shared one point each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has gained one point from two matches in the World Cup while Sri Lanka has one point from three matches. Nepal’s hopes of entering the next round is still alive in the world cup. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20973', 'image' => '20240612111603_GPzMwNUbMAA7LhY.jpg', 'article_date' => '2024-06-12 11:15:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21246', 'article_category_id' => '1', 'title' => 'Central and Western Tarai Likely to Experience Excessive Heat for Three Days', 'sub_title' => '', 'summary' => 'Excessive heat has been forecast for the next three days in the central and western Tarai regions.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 11: Excessive heat has been forecast for the next three days in the central and western Tarai regions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has reported that temperatures in some parts of the southern plains of Sudurpaschim and Lumbini provinces have recently soared to 40 degrees Celsius or higher.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In a special bulletin issued today, the Division forecasts the occurrence of a heat wave for the next three days starting from today. It has urged everyone to take precautions against the adverse weather conditions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Symptoms of heat wave-related illness include fatigue, weakness, increased thirst, headache, muscle cramps, dizziness, muscle pain, vomiting, and even unconsciousness.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Division advises the public to take precautions to mitigate the risks associated with the heat wave. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">People have been advised to stay indoors in cool areas, wear lightweight cotton clothing, avoid direct sun exposure, wear hats when outdoors, and consume plenty of fruits, water, and fluids such as fresh juice. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20972', 'image' => '20240611052645_collage (10).jpg', 'article_date' => '2024-06-11 17:25:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21245', 'article_category_id' => '1', 'title' => 'NEPSE Gains 33.15 Points to Close at 2115.24', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a significant increase of 33.15 points, or 1.59%, closing at 2115.24 on Tuesday, the third trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 11: The Nepal Stock Exchange (NEPSE) Index saw a significant increase of 33.15 points, or 1.59%, closing at 2115.24 on Tuesday, the third trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, a total of 311 scrips were traded through 74,877 transactions on NEPSE. A total of 12,665,329 units of shares were exchanged, resulting in a total turnover of Rs 5.55 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRN Infrastructure and Development Fund Limited (NRN) led in turnover with transactions worth Rs 36 crores. Barun Hydro Power Company Limited (BARUN), Green Ventures Limited (GVL), and Kutheli Bukhari Small Hydropower Limited (KBSH) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Samling Power Company Limited (SPC) experienced the largest loss, dropping 5.81%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the green. The Hydropower Index gained the most at 2.58%, while the Manufacturing and Processing Index had the smallest gain at 0.40%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20971', 'image' => '20240611035724_collage (9).jpg', 'article_date' => '2024-06-11 15:56:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21244', 'article_category_id' => '1', 'title' => 'Farmers Demand Reasonable Price for Paddy ', 'sub_title' => '', 'summary' => 'BANIYANI: Farmers of Jhapa district have been worried about not getting proper market for the paddy they produced. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BANIYANI: Farmers of Jhapa district have been worried about not getting proper market for the paddy they produced. The demand for pre-monsoon paddy is discouraging, says Durga Prasad Thapa, a farmer from Kanchankawal rural municipality-2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The paddy is ripe in the field for harvest but the slump in the price has distressed farmers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They were selling the rice at Rs 1,050 to Rs 1,200 per maan (40 kilograms) some days back. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa, who is also a member of rice super zone coordination committee, shared that the government, which encourages production of paddy, should also manage sales and marketing of paddy.</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 paddy production will increase this year, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another farmer Toyanath Mishra from Kachankawal-3 said, "Although we sold 40 kgs of rice for Rs 1,200 in the beginning, the price has declined heavily now and is being traded for Rs 900 per 40 kgs. It is the peak time for harvesting and sale of paddy, but declining price is a cause of concern." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Since<span style="font-family:"Arial Unicode MS","sans-serif""> the Chaite dhan or pre-monsoon paddy is not as dry as the normal rice, it is not practical for farmers to store them. So, the farmers have no option but to sell them immediately after threshing in the field. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Despite loss, we are bound to sell the Chaite dhan," Mishra shared his plight, adding that they are is not sold on time, they will decay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, on March 28, the government had decided to fix the minimum support price of Chaite dhan at Rs 2,707 per quintal. Such rice should not have more than 18 percent wetness. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The farmers are worried because they are forced to sell the paddy at a price less than the minimum support price fixed by the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20970', 'image' => '20240611013516_20240126015111_paddyyy-transformed.jpeg', 'article_date' => '2024-06-11 13:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21243', 'article_category_id' => '1', 'title' => 'Dhalkebar-Inaruwa Transmission Line to Facilitate Export of 4,000 Megawatts of Electricity', 'sub_title' => '', 'summary' => 'KATHMANDU: The construction of the Dhalkebar-Inaruwa 400 kV transmission line has been completed, enabling the transmission of 4,000 megawatts of electricity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The construction of the Dhalkebar-Inaruwa 400 kV transmission line has been completed, enabling the transmission of 4,000 megawatts of electricity. This project is part of the Hetaunda-Dhalkebar-Inaruwa 400 kV transmission line initiative, aimed at enhancing the reliability of the electricity transmission system within Nepal and expanding electricity trade with India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The 154 km double circuit transmission line runs from Dhalkebar in Dhanusha to the Inaruwa Substation in Sunsari. Meanwhile, the 288 km transmission line from the Hetaunda substation in Makwanpur to the Inaruwa substation is being constructed in two sections. The Dhalkebar-Inaruwa section is complete, and the Hetaunda-Dhalkebar section is still under construction.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Executive Director of Nepal Electricity Authority, Kulman Ghising, highlighted that the completion of the Dhalkebar-Inaruwa section is a significant milestone, improving the country's transmission system's quality and reliability and increasing electricity trade between Nepal and India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Currently, the Dhalkebar-Muzaffarpur cross-border transmission line imports and exports only 800 megawatts of electricity due to the infrastructure limitations. However, once complete, the Dhalkebar-Inaruwa transmission line will allow for excess electricity to be exported to India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, during winter, the existing 132 kV transmission line from Dhalkebar to Inaruwa struggled to handle the load, often nearing the breaking point. With the new 400 kV line, voltage issues will been resolved, and power supply to the Morang-Sunsari industrial corridor will improved significantly.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Inaruwa 400 kV substation is already operational. To further enhance the power supply in the Sunsari-Morang industrial corridor, the old conductor of the Inaruwa-Duhbi 132 kV transmission line is being replaced with a high-capacity HTLS conductor. This upgrade will almost double the transmission line's capacity, which currently transmits about 200 megawatts of electricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Proposals have been made for the Inaruwa-Purnia transmission line for power trade with India and the Inaruwa-Anaramani 400 kV transmission line for trade between Nepal, India, and Bangladesh, with funding from the Korean Export-Import (EXIM) Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Dhalkebar-Inaruwa section includes 417 towers. A deep pile foundation (24-32 meters) has been laid for the 5 km transmission line on the Koshi river, with each of the 11 towers in this segment having 16 pile foundations. The project faced complications two years ago when a flood in the Koshi river swept away one of the towers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Project Director Shyam Kumar Yadav noted that the construction was impacted by the COVID-19 pandemic, floods, local obstructions, a Supreme Court interim order, and the procedural delay in forest area land use and tree felling process. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In Siraha, the work was halted for four years due to a court order, necessitating three preliminary environmental impact assessments (IEAs). With the Dhalkebar-Inaruwa section now completed, efforts are focused on the Dhalkebar-Hetaunda section, with 45 km of wire already laid.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Local residents in Hetaunda sub-metropolitan wards 15, 16, and 17 have been obstructing construction for about seven years, demanding a shift in the route. Sixteen towers remain to be built, 14 in the Hatia area and two in Thanabharyang, Hetaunda-11.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Hetaunda-Dhalkebar-Inaruwa transmission line project spans along the hill region, Shivalik-Chure range, and Terai regions, covering 10 districts: Makwanpur, Bara, Rautahat, Sarlahi, Mahottari, Dhanusha, Siraha, Saptari, Udayapur, and Sunsari. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The contract was signed in January 2012 AD with the aim of completing it within 30 months. The 400 kV transmission line mostly runs parallel to the existing 132 kV transmission line and the East-West Highway. The right-of-way is 23 meters on either side from the center point of the transmission line. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The project involves clearing 518 hectares of forest and acquiring 30 hectares of private agricultural land, affecting 475 hectares of private land and 171 houses and structures. Compensation for the right-of-way in the Dhalkebar-Inaruwa section alone cost about Rs 5 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">With an estimated cost of $170 million, the project is part of the Nepal-India Power Transmission and Trade Project, funded by the Government of Nepal, the Nepal Electricity Authority and concessional loans from the World Bank. After the World Bank loan period ended, the funding for the remaining works of the project is being bankrolled by the government and the NEA.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20969', 'image' => '20240611013350_20231120013615_20230716115331_eee.jpg', 'article_date' => '2024-06-11 13:32:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21241', 'article_category_id' => '1', 'title' => 'Physical Presence Still Mandatory to Buy Shares through Auction', 'sub_title' => '', 'summary' => 'KATHMANDU: When Upper Tamakoshi Hydropower Limited auctioned off its rights shares in last December/January, investors had to stay in queue for three days to buy them. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: When Upper Tamakoshi Hydropower Limited auctioned off its rights shares in last December/January, investors had to stay in queue for three days to buy them. The company had placed 17 million shares up for auction from December 29 to January 14 while issuing 100% rights shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This process proved cumbersome for investors accustomed to the convenience of buying and selling shares through the My Share App. Many took to social media to express their frustration and suggested that an online system for applying to purchase auction shares would have been much more efficient. "Instead of filling out long documents for auction shares, it would be easier if it was possible to apply online," said Bishnu Parajuli, a stock investor from Pokhara.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, most applications for purchasing auction shares must be submitted in person at the sales manager's office. Parajuli pointed out that the sales managers’ offices are mostly confined within the Kathmandu Valley, making it difficult for investors from outside the valley to participate in the auction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Even though some companies have arrangements to apply at branch offices of certain banks, not all companies offer this convenience," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Following Upper Tamakoshi Hydropower Limited, companies like Ghalemdi Hydro, Sinagti Hydro Energy, Arun Valley, and Ridi Power also auctioned their unsold shares, requiring investors to queue at the sales managers’ offices to submit their applications.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Purna Prasad Acharya, Chief Executive Officer of CDS & Clearing Limited, acknowledged that while it is technically feasible to buy and sell auction shares online, the necessary rules and regulations must first be established. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"When applying online, if the bid price is leaked, others could adjust their bids accordingly, which poses a risk," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far, the Securities Board of Nepal has not implemented any legal provisions regarding online applications for auction shares. Navaraj Adhikari, a spokesperson for the board, noted that as the overall stock market becomes more technology-friendly, there should be provisions for online applications to purchase auction shares. </span></span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20967', 'image' => '20240611123934_1696395769.auction.jpg', 'article_date' => '2024-06-11 12:38:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21239', 'article_category_id' => '1', 'title' => 'Govt to Provide Loans of Rs 194 Million to 183 Startup Projects', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has selected a total of 183 startup enterprises to provide loans of Rs 194 million at subsidized interest rate for business expansion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has selected a total of 183 startup enterprises to provide loans of Rs 194 million at subsidized interest rate for business expansion. The Industrial Enterprise Development Institute (IEDI) has published the list of recommended projects and proponents for these projects entitled to receive the subsidized interest loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IEDI is an autonomous body established by the government which is tasked with developing human and knowledge resources for entrepreneurship and business promotion in Nepal through a number of impact-generating quality tools such as training, research, consultancy, enterprise education, and management development programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government had initially announced a policy to provide capital to entrepreneurs with innovative ideas but lacking investment sources in the budget for the fiscal year 2071/72. Despite this annual announcement, the policy was implemented only after a decade. According to the government's plan, selected startup entrepreneurs will receive loans at a subsidized interest rate of 3 percent per annum.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IEDI requested for project proposals from interested startup entrepreneurs on February 2. A total of 1,658 projects were registered for loans within the deadline of 21 days. Among them, the IEDI shortlisted 335 projects with a total proposed investment of Rs 360 million. Out of the 335 shortlisted entrepreneurs, 183 have been finalized to receive loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government’s policy entitles the selected startup projects to receive loans ranging from a minimum of Rs 500,000 to a maximum of Rs 2.5 million at an interest rate of 3 percent per annum. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the IEDI, Umesh Kumar Gupta, stated that the government will invest this amount in the selected projects. This year, the government has allocated Rs 250 million to support such projects. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Most of the selected projects will receive between Rs 1.5 million and Rs 1.7 million," Gupta said, adding, "Only 4 or 5 projects will receive Rs 2.5 million each."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of projects receiving the minimum Rs 500,000 is also few. The loans will be disbursed within the current year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has made an arrangement for the startup projects to avail the loans from the nearest branch of Rastriya Banijya Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Monday, the foundation announced the names of the projects entitled to receive the loans and their corresponding bank branches to clarify where each loan will be processed. According to Gupta, loans can be obtained from 183 branches of the Rastriya Banijya Bank across different districts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government issued the 'Startup Enterprise Loan Operation Procedure 2080' on January 25. Eligible projects must have been registered for less than 7 years, with a total paid-up capital between Rs 200,000 and Rs 1 million, an annual turnover not exceeding Rs 20 million, and fixed capital (excluding real estate) also not exceeding Rs 20 million. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20965', 'image' => '20240611123440_1606904006.start-up-businesss.jpg', 'article_date' => '2024-06-11 12:33:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21237', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Stands at Rs 1177.18 Billion Despite a Decline of 2.3 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal’s trade deficit decreased 2.3 percent to Rs 1177.18 billion in the first ten months of the current fiscal year due to the decline in imports and exports.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Nepal’s trade deficit decreased 2.3 percent to Rs 1177.18 billion in the first ten months of the current fiscal year due to the decline in imports and exports.</span></p> <p><span style="font-size:18px">According to the latest report of Nepal Rastra Bank, such deficit had decreased 15.9 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">Unveiling the Current Macroeconomic and Financial Situation Report of Nepal based on the ten months of current fiscal year on Monday, the central bank said that the export-import ratio decreased to 9.7 percent in the review period from 9.8 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">The merchandise exports decreased by 3.6 percent to Rs 126.17 billion in the review period compared to a decrease of 24.5 percent in the corresponding period of last fiscal year. </span></p> <p><span style="font-size:18px">Destination-wise, exports to India and other countries decreased 5.6 percent and 1.4 percent respectively, whereas exports to China increased 68.1 percent.</span></p> <p><span style="font-size:18px">According to the report, exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, tea, bran among others decreased.</span></p> <p> </p> <p><span style="font-size:18px">In the review period, merchandise imports also decreased 2.4 percent to Rs 1303.36 billion compared to a decrease of 16.8 percent a year ago.</span></p> <p><span style="font-size:18px">Destination-wise, imports from India and other countries decreased 3.4 percent and 20.8 percent respectively while imports from China increased 34.4 percent.</span></p> <p><span style="font-size:18px">Imports of transport equipment, vehicle and other vehicle spare parts, readymade garments, aircraft spare parts, electrical equipment, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></p> <p><span style="font-size:18px">Based on customs points, exports from Bhairahawa, Dry Port, Jaleswar, Kanchanpur, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Dry Port, Jaleshwar, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.</span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20964', 'image' => '20240611115627_20240610092832_202405200ort-export-business.jpg', 'article_date' => '2024-06-11 11:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21236', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Moderates to 4.4 Percent in Mid-May: NRB', 'sub_title' => '', 'summary' => 'KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year ago.', 'content' => '<p><span style="font-size:18px">KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year ago.</span></p> <p><span style="font-size:18px">According to the latest report of Nepal Rastra Bank, the food and beverage category inflation stood at 6.27 percent whereas non-food and service category inflation stood at 2.96 percent in the review month.</span></p> <p><span style="font-size:18px">Under the food and beverage category, the price index of vegetable sub-category increased 23.11 percent, pulses and legumes 10.85 percent, spices 8.98 percent, cereal grains and their products 7.42 percent and sugar and sugar products 7.25 percent in the review month, states the Current Macroeconomic and Financial Situation Report published by the central bank on Monday.</span></p> <p><span style="font-size:18px">Meanwhile, the y-o-y price index of ghee and oil sub-category decreased 7.13 percent in the review month.</span></p> <p><span style="font-size:18px">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain region stood at 4.30 percent, 4.32 percent, 4.70 percent and 4.22 percent respectively in the review month. Such inflation in these regions was 7.68 percent, 7.15 percent, 7.57 percent and 7.12 percent respectively a year ago, added the report</span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20963', 'image' => '20240611111613_20240610091817_20231215014318_inflation less.jpg', 'article_date' => '2024-06-11 11:15:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21254', 'article_category_id' => '1', 'title' => 'NEPSE Registers a 6.37-Point Gain to Close at 2121.62', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) rose slightly on Wednesday, gaining 6.37 points or 0.30% to close at 2121.62. This marks the fourth trading day of the week with a minimal increase.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 12: The Nepal Stock Exchange (NEPSE) rose slightly on Wednesday, gaining 6.37 points or 0.30% to close at 2121.62. This marks the fourth trading day of the week with a minimal increase.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the trading session, 312 different company stocks (scrips) were traded through total 74,858 transactions. A total of 12,950,407 units of shares changed hands, resulting into a total turnover of Rs 5.89 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) was the company with the highest turnover, recording transactions worth Rs 27 crore. Samriddhi Finance Limited (SFCL) and Mid Solu Hydropower Limited (MSHL) witnessed the most significant positive change, each gaining 10% and reaching the upper limit (positive circuit) for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the other hand, Sayapatri Hydropower Limited (SPHL) experienced the biggest loss, falling 4.48% and closing at a market price of Rs 533 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Looking at the sectoral performance, all sectors except for Hotels and Tourism, Hydropower, Non-Life Insurance, and Trading witnessed gains. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Finance Index enjoyed the highest increase at 1.07%, while the Hydropower Index suffered the most significant decline at 0.61%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20979', 'image' => '20240612032302_collage (30).jpg', 'article_date' => '2024-06-12 15:19:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21252', 'article_category_id' => '1', 'title' => 'Financial Irregularities Rampant at the Local Level', 'sub_title' => 'CIAA Receives 17,000 Complaints Against People's Representatives', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">BIJAY DAMASE</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The Commission for Investigation of Abuse of Authority (CIAA) has registered a case in the special court against six individuals, including the suspended mayor of Bagmati Municipality in Sarlahi, Bharat Kumar Thapa. Thapa was automatically suspended from his position following the provisions of the Prevention of Corruption Act after the CIAA filed a case on April 10, accusing him of illegally amassing wealth.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On Tuesday, the anti-graft body registered another case, alleging that Thapa and five others committed irregularities worth Rs 302.9 million in the construction of Bharat Tal in the municipality. The CIAA also filed charges against the municipality's deputy mayor, Leela Kumari Moktan, demanding a bond of Rs 302.9 million from her.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The initial case against Thapa claims he illegally earned Rs 53.3 million. The charge sheet details that Thapa had a legal income of Rs 78.6 million from mid-September 2017 to mid-February 2023 but invested and spent Rs 132 million during this period, leading to a discrepancy of Rs 53.3 million. The CIAA has demanded fines, punishment, and property confiscation for Thapa, asserting that he earned illegal property in the names of his wife Reshmi Kumari Ghimire, brother Ram Thapa, and daughter-in-law Dwarika Raut. They have also been made defendants in the case, with a demand for property confiscation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Recently, the CIAA filed another corruption case against 14 individuals, including Mayor Gajendra Maharjan of Lalitpur's Godavari Municipality, accusing them of causing a loss of Rs 1.487 billion to the government by under-invoicing tenders for sand and gravel excavation. CIAA claims these actions led to significant revenue loss from FY 2075/76 to 2079/80.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Yagyaraj Regmi, the information officer of the special court, the CIAA filed the case on the grounds of revenue embezzlement by issuing tenders below the government rate. Mayor Maharjan, elected from the Nepali Congress, was also elected in the local elections of 2074.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The CIAA is currently investigating numerous complaints against public representatives, with 10-12 cases filed monthly in the special court after investigations. Joint Secretary and Spokesperson of the CIAA, Narahari Ghimire, noted that complaints of corruption and irregularities are being prioritized. He indicated that the nature of the current cases suggests a misuse of power by people's representatives, and he anticipates an increase in complaints.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CIAA's report highlights financial irregularities in programs such as procurement, agricultural initiatives, small contracts, river product excavation, report preparation, and road construction. There is a significant number of complaints alleging that representatives have illegally profited by misusing their power, violating laws, and causing state revenue losses.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This year, approximately 17,000 complaints have been filed against local representatives, making up about half of the total 33,000 complaints. This surge in complaints indicates that corruption has deeply rooted itself at the local level. The highest number of complaints have been made against representatives in Madhesh Province.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bhim Prasad Dhungana, chairman of the Municipal Association of Nepal, argued that corruption is less prevalent at the local level compared to the federal government. He emphasized that there are many local levels, which naturally leads to a higher number of complaints. He argued that there are 753 local governments in the country, compared to one federal and seven provincial governments. Dhungana suggested that allegations of widespread local corruption are attempts to weaken local governance. He also noted that many cases escalate due to anonymous complaints against public representatives.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, Ghimire mentioned that anonymous complaints are permitted to protect the complainant's privacy, and the authority investigates based on these complaints.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In addition to the CIAA's findings, the Auditor General's report also highlights financial indiscipline at the local level, noting worsening arrears and failure to follow procurement processes, leading to random fund disbursements.</span></span></span></p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => 'corruption, Nepal, CIAA, abuse, local, level, representatives, graft, case, charge', 'description' => '', 'sortorder' => '20978', 'image' => '20240612015257_CIAA eight by six.jpg', 'article_date' => '2024-06-12 13:52:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21251', 'article_category_id' => '1', 'title' => 'New Legal Provision Undermines SEBON’s Autonomy: Stakeholders', 'sub_title' => '', 'summary' => 'KATHMANDU: The post of chairman of the Securities Board of Nepal (SEBON) has been vacant since January 5, halting the process of public issuance of securities.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">PRAJITA BUDHATHOKI</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">KATHMANDU: The post of chairman of the Securities Board of Nepal (SEBON) has been vacant since January 5, halting the process of public issuance of securities. Despite this, the government has shown no urgency in appointing a new chairman.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had formed a recommendation committee for the appointment of the SEBON chair on January 17. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Among the aspiring candidates, the committee shortlisted five on April 7, but the government has yet to show interest in finalizing the appointment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government, which deliberately delayed the appointment of a new chairman, has assigned the responsibility of SEBON chairman to a trusted employee. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">An amendment to the Securities Act in mid-April allows a representative from the Ministry of Finance to assume the role of SEBON chairman until a new one is appointed. According to the amended provisions in Section 7 of the Securities Act 2063, if the position of chairman is vacant, a member representing the Ministry of Finance on the board can act as chairman, regardless of how long the appointment process takes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Under this new arrangement, Narendra Kumar Rana, a joint secretary of the Ministry of Finance, has been given the responsibility of SEBON chair. Rana assumed this role on May 21 after the legal amendment took effect on April 13. Previously, Ritesh Shakya, another joint secretary of the Ministry of Finance, held the position temporarily.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Narayan Paudel, chairman of SEBON’s Independent Employees' Organization, stated that the amendment allows the government to delay the appointment of a permanent chairman indefinitely. Paudel emphasized that an autonomous regulatory body should not be unduly influenced by government decisions, as the board's primary responsibility is to manage the issue, purchase, sale, distribution, and exchange of securities to protect investors' interests and develop the capital market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">This situation is reminiscent of an incident two years ago when the government attempted to remove Maha Prasad Adhikari, the governor of Nepal Rastra Bank, after he refused to serve the personal interests of the then Finance Minister Janardan Sharma. An inquiry committee was formed, suspending Adhikari, but the Supreme Court intervened and reinstated him, halting the removal process.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government’s decision to hand over the responsibility of SEBON’s chairman to a representative of the Ministry of Finance has drawn widespread criticism. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Critics argue that the decision to assign the SEBON chairmanship to a Ministry of Finance representative undermines the autonomy of regulatory bodies and impedes the resumption of pending IPO issuances. They contend that the appointed person can only handle daily administration and lacks the authority to make significant progress.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Narendra Kumar Rana, now acting as SEBON chairman, has promised to address the stalled activities. "Since I have been given the responsibility of the board’s chairman, preparations are being made to make the market viable," said Rana.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => 'sebon, chair, securities, IPO, Nepal, delay, appoint, urgency, autonomy', 'description' => '', 'sortorder' => '20977', 'image' => '20240612012614_Sebon-update.jpg', 'article_date' => '2024-06-12 13:23:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21250', 'article_category_id' => '1', 'title' => 'Customs Clearance of Vehicles at Birgunj Customs Increasing', 'sub_title' => '', 'summary' => 'BIRGUNJ: Importers have stepped up customs clearance of vehicles from Birgunj customs, the country's main trade point.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">BIRGUNJ: Importers have stepped up customs clearance of vehicles from Birgunj customs, the country's main trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The importers have started customs clearance of vehicles that were stuck at Birgunj Integrated Check Post and Dry Port for a long time. Along with this, the government officials said that newly imported vehicles are also getting customs clearance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">According to Kamal Gyawali, head of Nepal Intermodal Transport Development Committee, Birgunj, the number of new vehicles passing the customs clearance has been higher than those entering the customs.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">At present, 983 new imported vehicles are awaiting customs clearance at the Integrated Check Point and 86 at Dry Port Customs. Gyawali said that most of them are jeeps, cars and vans. Chassis of trucks and buses are also being imported through the customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">The data shows that the import of vehicles has decreased since the onset of the coronavirus pandemic. As the demand for vehicles in the market decreased, the imported vehicles were kept on the customs premises by the importers. Demand was also affected due to the government's import control policy and recession due to the coronavirus pandemic. Importers have said that now the demand for vehicles has increased and the customs clearance of old and new vehicles is increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif"">As of last April, the number of vehicles piled up at the ICP due to the delay in customs clearance stood at 2,300. Gyawali said this number has gradually decreased due to the rise in customs clearance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"ekmukta","serif""> "After the importers started releasing the vehicles, the piling up of such vehicles at the customs has started to decrease. At one point, there was a difficulty in managing the parking lot of vehicles at the customs office, but now that problem has been solved,” he said. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20976', 'image' => '20240612123534_20220815011457_1660393906.jpg', 'article_date' => '2024-06-12 12:34:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21249', 'article_category_id' => '1', 'title' => 'Discussion on Appropriation Bill Begins ', 'sub_title' => '', 'summary' => 'KATHMANDU: Discussion on different headings of the Appropriation Bill, 2081, has commenced in the House of Representatives from Tuesday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Discussion on different headings of the Appropriation Bill, 2081, has commenced in the House of Representatives from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Discussion on various headings of the Ministry of Youth and Sports, Ministry of Education, Science and Technology, Ministry of Labour, Employment and Social Security and Ministry of Agriculture and Livestock Development has started. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In course of discussion, Ram Hari Khatiwada raised question about absence of Minister for Youth and Sports in the Parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, lawmakers Chandra Kant Bhandari, Menuka Kumari Pokharel, Devendra Poudel, Dhawal Shumsher JB Rana, Amar Bahadur Thapa, Ranju Kumari Jha, Abdul Khan, Ram Prakash Chaudhary, Prabhu Sah, Yogendra Mandal, Ram Hari Khatiwada, Sarita Bhusal, Gyanu Basnet Subedi, among others participated in the discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before the discussion, lawmaker Prem Suwal presented a proposal to reduce the expenditure of the Ministry of Education, Science and Technology and Ministry of Labour, Employment and Social Security under the Appropriation Bill, 2081. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, HoR member Dr Amaresh Kumar Singh proposed that the expenses of Ministry of Education, Science and Technology, Ministry of Labour, Employment and Social Security and Ministry of Agriculture and Livestock Development be reduced. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Badri Prasad Pandey, Rama Koirala and Sanjay Kumar Gautam asked to reduce the expenses of different ministries. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20975', 'image' => '20240612113307_Parliament RSS 800.jpg', 'article_date' => '2024-06-12 11:32:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21247', 'article_category_id' => '1', 'title' => 'Monsoon Arrival in Kathmandu to Take a Few More Days ', 'sub_title' => '', 'summary' => 'KATHMANDU: Even though the monsoon entered Nepal on June 10, it will take a few more days for the monsoon to enter the Kathmandu Valley. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Even though the monsoon entered Nepal on June 10, it will take a few more days for the monsoon to enter the Kathmandu Valley. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">T<span style="font-family:"Arial Unicode MS","sans-serif"">he influence of the monsoon system in currently felt in the eastern parts of the country while the rest of the country is being impacted by the local and westerly winds as well as low pressure system formed around Bihar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Department of Hydrology and Meteorology Sanjeev Adhikari said there are slim chances of rainfall in the Kathmandu Valley today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The maximum temperature is expected to remain in between 32 and 34 degrees Celsius. The weather will be partly to generally cloudy in the hill regions of the country including Sudurpaschim, Karnali and Koshi provinces and fair in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is also taking place at one or two places of Koshi Province. The weather will be partly to generally cloudy in the hill regions of Bagmati and Gandaki provinces and mainly fair in the rest of the country this afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Meteorological Forecasting Division has predicted partly to generally cloudy in the hill regions of Koshi and Gandaki provinces and partly fair in the rest of the country tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light to moderate rain accompanied by thunder and lightning is likely to occur at some places of the hill regions of Koshi and Gandaki provinces. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20974', 'image' => '20240612110759_20240610063405_20240604114336_20210626022910_Monsoon.jpeg', 'article_date' => '2024-06-12 11:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21248', 'article_category_id' => '1', 'title' => 'Nepal-Sri Lanka Match Cancelled due to Rain ', 'sub_title' => '', 'summary' => 'KATHMANDU: The match between Nepal and Sri Lanka under the ICC T20 World Cup Cricket Tournament has been cancelled due to rain. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The match between Nepal and Sri Lanka under the ICC T20 World Cup Cricket Tournament has been cancelled due to rain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The match was scheduled to start at 5:15 am today at the Broard County Ground in Florida, but was canceled due to continuous rain. With the cancellation of the match, both the teams shared one point each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has gained one point from two matches in the World Cup while Sri Lanka has one point from three matches. Nepal’s hopes of entering the next round is still alive in the world cup. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-12', 'modified' => '2024-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '20973', 'image' => '20240612111603_GPzMwNUbMAA7LhY.jpg', 'article_date' => '2024-06-12 11:15:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21246', 'article_category_id' => '1', 'title' => 'Central and Western Tarai Likely to Experience Excessive Heat for Three Days', 'sub_title' => '', 'summary' => 'Excessive heat has been forecast for the next three days in the central and western Tarai regions.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 11: Excessive heat has been forecast for the next three days in the central and western Tarai regions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has reported that temperatures in some parts of the southern plains of Sudurpaschim and Lumbini provinces have recently soared to 40 degrees Celsius or higher.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In a special bulletin issued today, the Division forecasts the occurrence of a heat wave for the next three days starting from today. It has urged everyone to take precautions against the adverse weather conditions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Symptoms of heat wave-related illness include fatigue, weakness, increased thirst, headache, muscle cramps, dizziness, muscle pain, vomiting, and even unconsciousness.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Division advises the public to take precautions to mitigate the risks associated with the heat wave. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">People have been advised to stay indoors in cool areas, wear lightweight cotton clothing, avoid direct sun exposure, wear hats when outdoors, and consume plenty of fruits, water, and fluids such as fresh juice. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20972', 'image' => '20240611052645_collage (10).jpg', 'article_date' => '2024-06-11 17:25:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21245', 'article_category_id' => '1', 'title' => 'NEPSE Gains 33.15 Points to Close at 2115.24', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a significant increase of 33.15 points, or 1.59%, closing at 2115.24 on Tuesday, the third trading day of the week.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 11: The Nepal Stock Exchange (NEPSE) Index saw a significant increase of 33.15 points, or 1.59%, closing at 2115.24 on Tuesday, the third trading day of the week.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, a total of 311 scrips were traded through 74,877 transactions on NEPSE. A total of 12,665,329 units of shares were exchanged, resulting in a total turnover of Rs 5.55 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRN Infrastructure and Development Fund Limited (NRN) led in turnover with transactions worth Rs 36 crores. Barun Hydro Power Company Limited (BARUN), Green Ventures Limited (GVL), and Kutheli Bukhari Small Hydropower Limited (KBSH) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Samling Power Company Limited (SPC) experienced the largest loss, dropping 5.81%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors closed in the green. The Hydropower Index gained the most at 2.58%, while the Manufacturing and Processing Index had the smallest gain at 0.40%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20971', 'image' => '20240611035724_collage (9).jpg', 'article_date' => '2024-06-11 15:56:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21244', 'article_category_id' => '1', 'title' => 'Farmers Demand Reasonable Price for Paddy ', 'sub_title' => '', 'summary' => 'BANIYANI: Farmers of Jhapa district have been worried about not getting proper market for the paddy they produced. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BANIYANI: Farmers of Jhapa district have been worried about not getting proper market for the paddy they produced. The demand for pre-monsoon paddy is discouraging, says Durga Prasad Thapa, a farmer from Kanchankawal rural municipality-2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The paddy is ripe in the field for harvest but the slump in the price has distressed farmers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They were selling the rice at Rs 1,050 to Rs 1,200 per maan (40 kilograms) some days back. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa, who is also a member of rice super zone coordination committee, shared that the government, which encourages production of paddy, should also manage sales and marketing of paddy.</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 paddy production will increase this year, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another farmer Toyanath Mishra from Kachankawal-3 said, "Although we sold 40 kgs of rice for Rs 1,200 in the beginning, the price has declined heavily now and is being traded for Rs 900 per 40 kgs. It is the peak time for harvesting and sale of paddy, but declining price is a cause of concern." </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Since<span style="font-family:"Arial Unicode MS","sans-serif""> the Chaite dhan or pre-monsoon paddy is not as dry as the normal rice, it is not practical for farmers to store them. So, the farmers have no option but to sell them immediately after threshing in the field. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Despite loss, we are bound to sell the Chaite dhan," Mishra shared his plight, adding that they are is not sold on time, they will decay. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, on March 28, the government had decided to fix the minimum support price of Chaite dhan at Rs 2,707 per quintal. Such rice should not have more than 18 percent wetness. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The farmers are worried because they are forced to sell the paddy at a price less than the minimum support price fixed by the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20970', 'image' => '20240611013516_20240126015111_paddyyy-transformed.jpeg', 'article_date' => '2024-06-11 13:34:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21243', 'article_category_id' => '1', 'title' => 'Dhalkebar-Inaruwa Transmission Line to Facilitate Export of 4,000 Megawatts of Electricity', 'sub_title' => '', 'summary' => 'KATHMANDU: The construction of the Dhalkebar-Inaruwa 400 kV transmission line has been completed, enabling the transmission of 4,000 megawatts of electricity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The construction of the Dhalkebar-Inaruwa 400 kV transmission line has been completed, enabling the transmission of 4,000 megawatts of electricity. This project is part of the Hetaunda-Dhalkebar-Inaruwa 400 kV transmission line initiative, aimed at enhancing the reliability of the electricity transmission system within Nepal and expanding electricity trade with India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The 154 km double circuit transmission line runs from Dhalkebar in Dhanusha to the Inaruwa Substation in Sunsari. Meanwhile, the 288 km transmission line from the Hetaunda substation in Makwanpur to the Inaruwa substation is being constructed in two sections. The Dhalkebar-Inaruwa section is complete, and the Hetaunda-Dhalkebar section is still under construction.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Executive Director of Nepal Electricity Authority, Kulman Ghising, highlighted that the completion of the Dhalkebar-Inaruwa section is a significant milestone, improving the country's transmission system's quality and reliability and increasing electricity trade between Nepal and India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Currently, the Dhalkebar-Muzaffarpur cross-border transmission line imports and exports only 800 megawatts of electricity due to the infrastructure limitations. However, once complete, the Dhalkebar-Inaruwa transmission line will allow for excess electricity to be exported to India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, during winter, the existing 132 kV transmission line from Dhalkebar to Inaruwa struggled to handle the load, often nearing the breaking point. With the new 400 kV line, voltage issues will been resolved, and power supply to the Morang-Sunsari industrial corridor will improved significantly.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Inaruwa 400 kV substation is already operational. To further enhance the power supply in the Sunsari-Morang industrial corridor, the old conductor of the Inaruwa-Duhbi 132 kV transmission line is being replaced with a high-capacity HTLS conductor. This upgrade will almost double the transmission line's capacity, which currently transmits about 200 megawatts of electricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Proposals have been made for the Inaruwa-Purnia transmission line for power trade with India and the Inaruwa-Anaramani 400 kV transmission line for trade between Nepal, India, and Bangladesh, with funding from the Korean Export-Import (EXIM) Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Dhalkebar-Inaruwa section includes 417 towers. A deep pile foundation (24-32 meters) has been laid for the 5 km transmission line on the Koshi river, with each of the 11 towers in this segment having 16 pile foundations. The project faced complications two years ago when a flood in the Koshi river swept away one of the towers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Project Director Shyam Kumar Yadav noted that the construction was impacted by the COVID-19 pandemic, floods, local obstructions, a Supreme Court interim order, and the procedural delay in forest area land use and tree felling process. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In Siraha, the work was halted for four years due to a court order, necessitating three preliminary environmental impact assessments (IEAs). With the Dhalkebar-Inaruwa section now completed, efforts are focused on the Dhalkebar-Hetaunda section, with 45 km of wire already laid.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Local residents in Hetaunda sub-metropolitan wards 15, 16, and 17 have been obstructing construction for about seven years, demanding a shift in the route. Sixteen towers remain to be built, 14 in the Hatia area and two in Thanabharyang, Hetaunda-11.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Hetaunda-Dhalkebar-Inaruwa transmission line project spans along the hill region, Shivalik-Chure range, and Terai regions, covering 10 districts: Makwanpur, Bara, Rautahat, Sarlahi, Mahottari, Dhanusha, Siraha, Saptari, Udayapur, and Sunsari. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The contract was signed in January 2012 AD with the aim of completing it within 30 months. The 400 kV transmission line mostly runs parallel to the existing 132 kV transmission line and the East-West Highway. The right-of-way is 23 meters on either side from the center point of the transmission line. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The project involves clearing 518 hectares of forest and acquiring 30 hectares of private agricultural land, affecting 475 hectares of private land and 171 houses and structures. Compensation for the right-of-way in the Dhalkebar-Inaruwa section alone cost about Rs 5 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">With an estimated cost of $170 million, the project is part of the Nepal-India Power Transmission and Trade Project, funded by the Government of Nepal, the Nepal Electricity Authority and concessional loans from the World Bank. After the World Bank loan period ended, the funding for the remaining works of the project is being bankrolled by the government and the NEA.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20969', 'image' => '20240611013350_20231120013615_20230716115331_eee.jpg', 'article_date' => '2024-06-11 13:32:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21241', 'article_category_id' => '1', 'title' => 'Physical Presence Still Mandatory to Buy Shares through Auction', 'sub_title' => '', 'summary' => 'KATHMANDU: When Upper Tamakoshi Hydropower Limited auctioned off its rights shares in last December/January, investors had to stay in queue for three days to buy them. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: When Upper Tamakoshi Hydropower Limited auctioned off its rights shares in last December/January, investors had to stay in queue for three days to buy them. The company had placed 17 million shares up for auction from December 29 to January 14 while issuing 100% rights shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This process proved cumbersome for investors accustomed to the convenience of buying and selling shares through the My Share App. Many took to social media to express their frustration and suggested that an online system for applying to purchase auction shares would have been much more efficient. "Instead of filling out long documents for auction shares, it would be easier if it was possible to apply online," said Bishnu Parajuli, a stock investor from Pokhara.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, most applications for purchasing auction shares must be submitted in person at the sales manager's office. Parajuli pointed out that the sales managers’ offices are mostly confined within the Kathmandu Valley, making it difficult for investors from outside the valley to participate in the auction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Even though some companies have arrangements to apply at branch offices of certain banks, not all companies offer this convenience," she said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Following Upper Tamakoshi Hydropower Limited, companies like Ghalemdi Hydro, Sinagti Hydro Energy, Arun Valley, and Ridi Power also auctioned their unsold shares, requiring investors to queue at the sales managers’ offices to submit their applications.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Purna Prasad Acharya, Chief Executive Officer of CDS & Clearing Limited, acknowledged that while it is technically feasible to buy and sell auction shares online, the necessary rules and regulations must first be established. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"When applying online, if the bid price is leaked, others could adjust their bids accordingly, which poses a risk," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far, the Securities Board of Nepal has not implemented any legal provisions regarding online applications for auction shares. Navaraj Adhikari, a spokesperson for the board, noted that as the overall stock market becomes more technology-friendly, there should be provisions for online applications to purchase auction shares. </span></span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20967', 'image' => '20240611123934_1696395769.auction.jpg', 'article_date' => '2024-06-11 12:38:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21239', 'article_category_id' => '1', 'title' => 'Govt to Provide Loans of Rs 194 Million to 183 Startup Projects', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has selected a total of 183 startup enterprises to provide loans of Rs 194 million at subsidized interest rate for business expansion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has selected a total of 183 startup enterprises to provide loans of Rs 194 million at subsidized interest rate for business expansion. The Industrial Enterprise Development Institute (IEDI) has published the list of recommended projects and proponents for these projects entitled to receive the subsidized interest loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IEDI is an autonomous body established by the government which is tasked with developing human and knowledge resources for entrepreneurship and business promotion in Nepal through a number of impact-generating quality tools such as training, research, consultancy, enterprise education, and management development programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government had initially announced a policy to provide capital to entrepreneurs with innovative ideas but lacking investment sources in the budget for the fiscal year 2071/72. Despite this annual announcement, the policy was implemented only after a decade. According to the government's plan, selected startup entrepreneurs will receive loans at a subsidized interest rate of 3 percent per annum.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IEDI requested for project proposals from interested startup entrepreneurs on February 2. A total of 1,658 projects were registered for loans within the deadline of 21 days. Among them, the IEDI shortlisted 335 projects with a total proposed investment of Rs 360 million. Out of the 335 shortlisted entrepreneurs, 183 have been finalized to receive loans. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government’s policy entitles the selected startup projects to receive loans ranging from a minimum of Rs 500,000 to a maximum of Rs 2.5 million at an interest rate of 3 percent per annum. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the IEDI, Umesh Kumar Gupta, stated that the government will invest this amount in the selected projects. This year, the government has allocated Rs 250 million to support such projects. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Most of the selected projects will receive between Rs 1.5 million and Rs 1.7 million," Gupta said, adding, "Only 4 or 5 projects will receive Rs 2.5 million each."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The number of projects receiving the minimum Rs 500,000 is also few. The loans will be disbursed within the current year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has made an arrangement for the startup projects to avail the loans from the nearest branch of Rastriya Banijya Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Monday, the foundation announced the names of the projects entitled to receive the loans and their corresponding bank branches to clarify where each loan will be processed. According to Gupta, loans can be obtained from 183 branches of the Rastriya Banijya Bank across different districts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government issued the 'Startup Enterprise Loan Operation Procedure 2080' on January 25. Eligible projects must have been registered for less than 7 years, with a total paid-up capital between Rs 200,000 and Rs 1 million, an annual turnover not exceeding Rs 20 million, and fixed capital (excluding real estate) also not exceeding Rs 20 million. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20965', 'image' => '20240611123440_1606904006.start-up-businesss.jpg', 'article_date' => '2024-06-11 12:33:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21237', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Stands at Rs 1177.18 Billion Despite a Decline of 2.3 Percent', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal’s trade deficit decreased 2.3 percent to Rs 1177.18 billion in the first ten months of the current fiscal year due to the decline in imports and exports.', 'content' => '<p><span style="font-size:18px">KATHMANDU: Nepal’s trade deficit decreased 2.3 percent to Rs 1177.18 billion in the first ten months of the current fiscal year due to the decline in imports and exports.</span></p> <p><span style="font-size:18px">According to the latest report of Nepal Rastra Bank, such deficit had decreased 15.9 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">Unveiling the Current Macroeconomic and Financial Situation Report of Nepal based on the ten months of current fiscal year on Monday, the central bank said that the export-import ratio decreased to 9.7 percent in the review period from 9.8 percent in the corresponding period of the previous year.</span></p> <p><span style="font-size:18px">The merchandise exports decreased by 3.6 percent to Rs 126.17 billion in the review period compared to a decrease of 24.5 percent in the corresponding period of last fiscal year. </span></p> <p><span style="font-size:18px">Destination-wise, exports to India and other countries decreased 5.6 percent and 1.4 percent respectively, whereas exports to China increased 68.1 percent.</span></p> <p><span style="font-size:18px">According to the report, exports of zinc sheet, particle board, juice, readymade garment, and oil cakes among others increased whereas exports of palm oil, soybean oil, woolen carpet, tea, bran among others decreased.</span></p> <p> </p> <p><span style="font-size:18px">In the review period, merchandise imports also decreased 2.4 percent to Rs 1303.36 billion compared to a decrease of 16.8 percent a year ago.</span></p> <p><span style="font-size:18px">Destination-wise, imports from India and other countries decreased 3.4 percent and 20.8 percent respectively while imports from China increased 34.4 percent.</span></p> <p><span style="font-size:18px">Imports of transport equipment, vehicle and other vehicle spare parts, readymade garments, aircraft spare parts, electrical equipment, textiles among others increased whereas imports of crude soybean oil, gold, hot rolled sheet in coil, crude palm oil, rice/paddy among others decreased.</span></p> <p><span style="font-size:18px">Based on customs points, exports from Bhairahawa, Dry Port, Jaleswar, Kanchanpur, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tatopani increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Dry Port, Jaleshwar, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.</span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20964', 'image' => '20240611115627_20240610092832_202405200ort-export-business.jpg', 'article_date' => '2024-06-11 11:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21236', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Moderates to 4.4 Percent in Mid-May: NRB', 'sub_title' => '', 'summary' => 'KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year ago.', 'content' => '<p><span style="font-size:18px">KATHMANDU: The year-on-year (y-o-y) consumer price inflation moderated to 4.40 percent in mid-May 2024 compared to 7.41 percent a year ago.</span></p> <p><span style="font-size:18px">According to the latest report of Nepal Rastra Bank, the food and beverage category inflation stood at 6.27 percent whereas non-food and service category inflation stood at 2.96 percent in the review month.</span></p> <p><span style="font-size:18px">Under the food and beverage category, the price index of vegetable sub-category increased 23.11 percent, pulses and legumes 10.85 percent, spices 8.98 percent, cereal grains and their products 7.42 percent and sugar and sugar products 7.25 percent in the review month, states the Current Macroeconomic and Financial Situation Report published by the central bank on Monday.</span></p> <p><span style="font-size:18px">Meanwhile, the y-o-y price index of ghee and oil sub-category decreased 7.13 percent in the review month.</span></p> <p><span style="font-size:18px">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain region stood at 4.30 percent, 4.32 percent, 4.70 percent and 4.22 percent respectively in the review month. Such inflation in these regions was 7.68 percent, 7.15 percent, 7.57 percent and 7.12 percent respectively a year ago, added the report</span></p> ', 'published' => true, 'created' => '2024-06-11', 'modified' => '2024-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '20963', 'image' => '20240611111613_20240610091817_20231215014318_inflation less.jpg', 'article_date' => '2024-06-11 11:15:27', '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
