December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the…
December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the…
December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur…
December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson.…
December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year…
December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY…
December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal…
December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19.…
December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous…
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An agreement to this effect was signed on Wednesday, December 15. As per the agreement, the fund needs to be invested in priority sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, CEO of Global IME Bank, and Rabi Rayamajhi, country representative of CDC Group, signed the agreement amid a function. The bank stated that the borrowed amount will help increase the credit flow capacity during the time of liquidity crisis as well as mobilize resources for investment in priority sector specified by the government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hydropower, renewable energy, infrastructure construction, manufacture, agriculture, and tourism sectors fall under Nepal’s priority sector lending. The bank has said that the funding will help with post-COVID recovery and to create jobs that will facilitate sustained inclusive growth across all segments of society in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Srini Nagarajan, the managing director as well as the head of Asia at CDC Group, said that Nepal has always been a high priority country for CDC Group. Nagarajan also said that the CDC Group is committed to continue supporting the economic recovery and sustainable growth of Nepal. Nagarajan said, “Amidst slowdown in global capital flow due to the pandemic, this partnership signifies the vast opportunities in Nepal”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, the CEO of Global IME Bank. expressed his excitement over the partnership and commented that the sanctioned amount would enhance and bolster the lending capacity to businesses across the key economic sectors that fall under priority sector lending.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nicola Politt, the British Ambassador to Nepal, said that the UK has been supporting Nepal against the impacts of climate change and on post-Covid-19 recovery. She also added that this investment will increase access of domestic businesses to finance.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14235', 'image' => '20211216031152_1639571741.jpg', 'article_date' => '2021-12-16 15:11:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14488', 'article_category_id' => '1', 'title' => 'CIAA Files Corruption Case against 5 Officials of KMC', 'sub_title' => '', 'summary' => 'December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Other officials charged by the CIAA include chief of KMC’s procurement unit Bakhat Bahadur Saud, Deputy Director Suman Adhikari, Deputy Director Bir Bahadur Khadka and engineer Umesh Kumar Budhathoki. They have been accused of corruption and misappropriating public property. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the charge-sheet, CIAA has stated that the accused officials selected a contractor for the construction of a building in KMC Ward-12, Teku by preparing a false evaluation report of the applications received through electronic bidding process. The CIAA started investigation after receiving a complaint against the KMC officials for their alleged involvement in forging documents of contract number 33185 NCBW KMC.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to CIAA, the case was filed as they were found to be involved in corruption by preparing forged documents during the technical evaluation process of the contract. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14234', 'image' => '20211216025213_20211210115020_20210624124455_20190205023717_aaaa.jpg', 'article_date' => '2021-12-16 14:51:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14490', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank appoints Dr Bhatta as New Spokesperson', 'sub_title' => '', 'summary' => 'December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. Dr Bhatta is also the Executive Director of the Supervision Department of the central bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, Dev Kumar Dhakal was the spokesperson of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhatta, who holds a doctorate in economics, had taken the responsibility as the spokesperson before this appointment as well.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14233', 'image' => '20211216031743_1639637575.jpg', 'article_date' => '2021-12-16 15:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14487', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Increases to 5.32 Percent', 'sub_title' => '', 'summary' => 'December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago. According to a report made public by the Nepal Rastra Bank (NRB) on Wednesday, food and beverage inflation stood at 4.79 percent whereas non-food and service inflation stood at 5.73 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The price of ghee and oil; transportation; meat and fish; non-alcoholic drinks; tobacco products and pulses and legumes sub-categories rose 29.11 percent, 12.36 percent, 10.91 percent, 10.70 percent 10.30 percent and 10.24 percent respectively on y-o-y basis, says the Current Marcoeconomic and Financial Situation Report published by the NRB. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review month, the Kathmandu Valley, Terai, hill and mountain areas recorded 6.14 percent, 3.95 percent, 7.14 percent and 5.00 percent inflation respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the y-o-y wholesale price inflation stood at 6.68 percent in the review month compared to 9.41 percent a year ago. According to the report, the y-o-y wholesale price of consumption goods, intermediate goods and capital goods increased 7.43 percent, 6.15 percent and 7.26 percent respectively. The wholesale price of construction materials increased 20.10 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, the y-o-y salary and wage rate index increased 5.03 percent in the review month. Such a growth rate was 0.85 percent a year ago. In the review month, salary index and wage rate index increased 9.44 and 3.77 percent, respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The y-o-y consumer price inflation in Nepal in the fourth month of 2020/21 remained 5.32 percent, while inflation in India was 4.91 percent in November 2021.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14232', 'image' => '20211216114757_Macroeconomic-Influencers-19-September.jpg', 'article_date' => '2021-12-16 11:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14486', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Increases by 56.8 Percent', 'sub_title' => '', 'summary' => 'December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22). According to Nepal Rastra Bank (NRB), such a deficit had contracted 12.5 percent in the corresponding period of the previous fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio increased to 12.6 percent in the review period from 10.0 percent in the corresponding period of the previous year, states the Current Marcoeconomic and Financial Situation Report published by the NRB on Wednesday (December 15). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, merchandise exports increased by 104.3 percent to Rs 82.12 billion in the first four months of the current fiscal year compared to an increase of 10.8 percent in the same period of the previous year. Destination-wise, exports to India, China and other countries increased 140.2 percent, 7.3 percent, and 23.5 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export of palm oil, soybean oil, oil cakes, polyester yarn and thread, jute products, among others, increased whereas the export of tea, cardamom, wire, zinc sheet, copper wire rod, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the first four months of FY 2021/22, merchandise imports increased 61.6 percent to Rs 650.29 billion against a decrease of 10.6 percent a year ago. Destination-wise, imports from India, China and other countries increased 46.1 percent, 56.9 percent, and 117.2 percent respectively, states the NRB report. Imports of petroleum products, transport equipment, vehicle and spare parts, crude palm oil, crude soybean oil, silver, among others, increased whereas imports of cement, chemical fertilizer, pulses, molasses sugar, rice/paddy, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Kanchanpur, Krishnanagar, Mechi and Nepalgunj Customs Office decreased whereas exports from all the other customs points increased in the review period. On the import side, imports from all the major customs points increased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14231', 'image' => '20211216113529_Trade.jpg', 'article_date' => '2021-12-16 11:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14485', 'article_category_id' => '1', 'title' => 'Inflow of Remittance Declines by 7.5 Percent: Central Bank', 'sub_title' => '', 'summary' => 'December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank (NRB), the inflow of remittance decreased 7.5 percent to Rs 312.42 billion in the review period against an increase of 11.2 percent in the same period of the previous year. In the US dollar terms, remittance inflows decreased 7.8 percent to 2.63 billion in the review period against an increase of 6.4 percent in the same period of the previous year, shows the Current Marcoeconomic and Financial Situation Report published by NRB on Wednesday, December 15.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report, the number of Nepali migrant workers taking approval for foreign employment increased significantly to 96,382 during the review period. It had decreased 95.7 percent in the same period of the previous year owing to the Covid-19 pandemic.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> The number of Nepali migrant workers (renew entry) taking approval for foreign employment increased 249.1 percent to 59,723 in the review period. It had decreased 78.9 percent in the same period of the previous year, the NRB report further stated. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the net transfer decreased 7.4 percent to Rs 345.65 billion in the review period. Such a transfer had increased 8.9 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14230', 'image' => '20211216112240_Remittance.jpg', 'article_date' => '2021-12-16 11:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14484', 'article_category_id' => '1', 'title' => 'Chitwan International Industrial Expo from December 17 ', 'sub_title' => '', 'summary' => 'December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. The event is being co-organised by the Chitwan Association of Industries and the Confederation of Nepalese Industries. </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 organizers said in a recent press conference that the preparation for the expo has reached the final stage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Chitwan Association of Industries Trilochan Kandel said the expo will feature 200 stalls including 50 from India. The expo aims to promote industrial sector affected by COVID-19. The objective of the expo is to support in revival of the nation’s economy hit by the pandemic instead of securing a profit, the organizers said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14229', 'image' => '20211216081758_Chitwan-International-Industrial-Expo-2021-01.jpg', 'article_date' => '2021-12-16 08:17:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14483', 'article_category_id' => '1', 'title' => 'Country’s Balance of Payments in Deficit of Rs 150 Billion', 'sub_title' => '', 'summary' => 'December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the current macroeconomic and financial situation report of the country unveiled by the Nepal Rastra Bank (NRB) on Wednesday (December 15), the BOP remained at a deficit of 1.26 billion in terms of US dollars in the review period against a surplus of 931.7 million in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report states that the current account remained at a deficit of Rs 223.19 billion in the review period against a surplus of Rs 19.01 billion in the same period of the previous year. In the US Dollar terms, the current account registered a deficit of 1.88 billion in the review period against a surplus of 158.6 million in the same period last year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 39.3 percent to Rs 2.52 billion and net foreign direct investment (FDI) increased 77.0 percent to Rs 6.63 billion, the report further states. In the same period of the previous year, capital transfer and net FDI amounted to Rs 4.15 billion and Rs 3.75 billion respectively.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, gross foreign exchange reserves decreased 11.0 percent to Rs 1244.85 billion in mid-November 2021 from Rs 1399.03 billion in mid-July 2021. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 11.0 percent to Rs 1107.47 billion in mid-November 2021 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 11.0 percent to Rs 137.38 billion in mid-November 2021 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 26.1 percent in mid-November 2021. </span></span></p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14228', 'image' => '20211215094940_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-15 21:48:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14482', 'article_category_id' => '236', 'title' => 'New Showroom of Renault in Lahan', 'sub_title' => '', 'summary' => 'December 15: A new showroom of Renault has come into operation in Lahan from Monday. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 15: A new showroom of Renault has come into operation in Lahan from Monday. Renault opened the new showroom with the aim of expanding its branches all over Nepal. Renault collaborated with Bhagya Mahalaxmi Automobiles to open the new showroom. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhir Kumar Shrestha, the General Manager of the company and Bipul Bhattarai, the Head of Sales Network, inaugurated the new showroom amid a function. According to a statement issued by the company, the inauguration ceremony was attended chief guest Ashok Lal Amatya from District Chamber of Commerce and Industry, and Ram Shah<strong>, </strong>the director of the Bhagya Laxmi Automobiles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We are committed to provide high quality services to our customers. In addition, we are grateful for the trust that Nepali consumers have put in us,” the statement quoted General Manager Adhir Kumar Shrestha as saying. The head of Sales Network, Bipul Bhattarai reportedly said that the newly opened showroom will provide all necessary services to the customers outside the Kathmandu Valley.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Renault's most popular models Kwid, Triber, Kiger and Duster are available in the new showroom. Customers can also get spare parts, accessories and other services at the showroom.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14227', 'image' => 'Renault.jfif', 'article_date' => '2021-12-15 16:39:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14481', 'article_category_id' => '1', 'title' => 'Commercial Farming of Turmeric Flourishing in Udayapur ', 'sub_title' => '', 'summary' => 'December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. </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"">Farmers of Siddhipur had started commercial farming of turmeric 10 years ago. Until two years ago, the farmers of Siddhipur used to produce turmeric worth Rs 10 million annually. But the production has increased since last year. Turmeric worth Rs 15 million was produced last year, according to the state-owned national news agency RSS.</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"">Mayor of the Chaudandigadhi Municipality, Khagendra Kumar Rai, said that Siddhipur area has been declared as top turmeric pocket area of the district. </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"">Around 40 farmers of Siddhipur are currently involved in commercial farming of turmeric, RSS further reported. Chief of the District Agriculture Knowledge Centre, Udayapur, Mahesh Chaudhary, informed that commercial farming of turmeric has increased in the area. Commercial turmeric farming is being done in around 137 hectares of land in the district and around 800 metric tonnes of turmeric is produced here annually, he informed. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, Biratnagar-based Golchha and Dugad Mills buy most of the turmeric produced in the district. </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"">Moreover, Saune Khanbu of Triyuga Municipality, Mainamaini and Babala of Belaka, Risku of Katari Municipality and Sirise, Hardeni, Bhalayadanda, and Danuwarbesi areas are also the pocket areas of turmeric, according to the Centre. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14226', 'image' => '20211215043215_85427212.jpg', 'article_date' => '2021-12-15 16:31:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14480', 'article_category_id' => '1', 'title' => 'Bangladesh Willing to Buy Surplus Energy from Nepal', 'sub_title' => '', 'summary' => 'December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal. Minister of State for Power, Energy, and Mineral Resources of Bangladesh, Nasrul Hamid, made such remarks during a meeting with a visiting delegation of the Confederation of Nepalese Industries (CNI) in Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The electricity generated in Nepal is being wasted without being consumed," he said, adding, "We can buy that electricity."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said Bangladesh has also done its homework to sign a long-term power purchase agreement (PPA) with Nepal's private sector. Due to a lack of market management in Nepal, 500 MW of electricity was wasted during the last monsoon. It has caused a loss of Rs 5 billion. Electricity generated in Nepal is being wasted due to the lack of adequate transmission lines and internal and external markets.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said that Bangladesh is ready to upgrade infrastructure of the transmission line for the import of electricity from Nepal. Bangladesh will initiate the construction of a dedicated line, assured Hamid. He also said that Bangladesh will import 3,500 MW of electricity generated in Nepal by 2026.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Minister of State Hamid also expressed his commitment to discuss the issue with Nepal's private sector. "I will visit Nepal in March to finalize this issue," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The prospect of trilateral electricity trade has opened since India issued the Interstate Energy Trade Procedure in March 2021.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> This procedure has ended the dilemma regarding regulation and legal mechanisms in the international electricity trade. Although India is a potential market for Nepal's electricity, the private sector has become optimistic about inter-country electricity trade with Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bangladesh needs 24,000 MW of renewable energy by 2040 and plans to shut down coal-powered energy in the next four years. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the meeting, the President of the Confederation of Nepalese Industries Bishnu Kumar Agrawal urged the Minister of State Hamid to purchase electricity through PPA directly with the private sector of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ashish Garg, chairman of the confederation's infrastructure committee and vice-chairman of the Independent Power Producers' Association, gave a presentation on the state of power generation and power consumption in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Former president of the confederation Hari Bhakta Sharma, vice presidents Nirvana Chaudhary, Krishna Prasad Adhikari, and Virendra Raj Pandey and members of the National Council Laxmi Prasad Subedi, Bhim Prasad Ghimire, Dwiraj Sharma, and outgoing president of Chitwan Industries Association Raju Poudel were present at the meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Acting Ambassador of Nepal in Dhaka Kumar Rai and Director General of the Confederation Yadav Prasad Poudel, and Director Sabin Mishra were also present on the occasion.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14225', 'image' => '20211215042025_1639490269.cni_dhaka.jpg', 'article_date' => '2021-12-15 16:19:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14479', 'article_category_id' => '1', 'title' => 'Government Urged to Implement Provision Obliging Employers to Bear Costs of Foreign Employment ', 'sub_title' => '', 'summary' => 'December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Making public a study report on the evaluation of manpower company services amidst a programme on Tuesday, GEFONT recommended the government to fully implement the provision that the employers should provide enrollment fee and expenses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study has found that the aspiring migrant workers are forced to pay enrollment fee of Rs 100,000 in an average. Around 98 percent of the respondents out of a total of 1,593 surveyed during the study said they paid high enrollment fee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Less than two percent of the respondents said that they did not have to pay any enrollment fee and costs in course of foreign employment. The prevailing provision obliges the employers to bear all the expenses involved in course of the enrollment of workers in foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the bilateral labour pacts signed by the government with the labour destination countries, including Jordan, Malaysia, United Arab Emirates (UAE) and Mauritius, have provision obliging employers to bear all costs involved in foreign employment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14224', 'image' => '20211215023334_20200315123851_1111.jpg', 'article_date' => '2021-12-15 14:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14478', 'article_category_id' => '1', 'title' => 'Chances of MCC Ratification from Parliament get Slim', 'sub_title' => '', 'summary' => 'December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. The parliament session which resumed from Tuesday (December 14) was obstructed again by the main opposition party CPN UML. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the UML parliamentary party held before the start of the parliament session could not reach a conclusion about the MCC. The meeting decided to make public the party’s official stance only after the MCC grant agreement is presented in the parliament, according to Bishal Bhattarai, a UML leader.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the CPN-Maoist parliamentary party also could not take any concrete decision. Instead, Pushpa Kamal Dahal, chairman of the party, briefed about recent political issues. According to Maoist lawmaker Rekha Sharma, Chairman Dahal also presented his opinions on the US-funded project. Dahal said MCC would not be tabled in the House without reaching consensus among the parties. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">She further said that the Maoist party is committed to its previous position on MCC. “We won’t support it until and unless the provisions against national interests are amended,” reiterated Dahal. While the US is pushing for MCC's early approval, the issue has not been discussed by the Nepali Congress which is preoccupied with the party’s general convention.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The MCC was expected to be ratified on Tuesday itself since the parliament session was called on the same day the board meeting of MCC was scheduled in Washington DC. During his recent visit, Donald Lu, US Assistant Secretary of State, had suggested to Prime Minister Sher Bahadur Deuba to take a decision on MCC before the MCC board meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba has been reiterating that the MCC should be approved by the parliament. He has assured MCC Vice President Fatima Sumar, who visited Nepal in September, Alexia Latortu, MCC's Deputy Chief Executive Officer in Glasgow, and Lu that the agreement would be ratified. However, Deuba has not been able to make any headway due to lack of agreement among the ruling coalition. The Nepali Congress and the Maoists, who were in power when the MCC was signed, are again the key partners of the current government. </span></span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Parliament obstruction continues</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first meeting of the 10th session of the House of Representatives held on December 14, Speaker Agni Prasad Sapkota urged the lawmakers not to obstruct the house session but the lawmakers of the main opposition party UML continued their protest. Despite the obstruction, six ordinances were tabled in the lower house meeting.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14223', 'image' => '20211215012519_MCC.jpg', 'article_date' => '2021-12-15 13:24:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14477', 'article_category_id' => '1', 'title' => 'Use Locally Made Handicraft Products: Vice President Pun', 'sub_title' => '', 'summary' => 'December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.</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"">Speaking at a programme organized to mark the 50th anniversary of the Federation of Handicraft Associations of Nepal and 10th Handicraft Day on Tuesday (December 14), Vice-President Pun said that the government should give high priority to the handicraft industry.</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"">"Government should give highest priority to handicraft sector which has helped maintain the identity of Nepal in the international arena and has also supported in creating job opportunities in the country," Pun reiterated. </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 vice president also appealed to all the government agencies to use domestic handicraft products. He added that the export of handicraft has been playing an important role in reducing trade deficit. </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"">Similarly, President of the federation Surendra Bhai Shakya said that they require cooperation and collaboration from all three tiers of governments to revitalize the handicraft sector that has been hard hit by the outbreak of COVID-19. He shared that various events would be held during the golden jubilee year of the federation including seminars and conferences to promote domestic handicraft products. </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"">Likewise, the federation's vice-chair Rabindra Shakya said that a policy related to handicraft should be formulated for the development and promotion of handicraft products. On the occasion, the federation felicitated its founding president Sagar Shumsher Rana, as well as founding member Motilal Shilpakar and best exporter of handicraft products Maheshwor Shrestha, Sunita Sherpa and Naresh Lal Shrestha among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14222', 'image' => '20211215112441_20170913113102_sect.jpg', 'article_date' => '2021-12-15 11:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14476', 'article_category_id' => '236', 'title' => 'Paramount Motors Launch MG Hector in Nepal', 'sub_title' => 'Pricing Starts at Rs 5.99 Million', 'summary' => 'December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector. The new model of MG Motors was launched recently at the company’s showroom in Naxal showroom amid a press conference. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Following the launch, Paramount Motors unveiled the price of the new model and announced the commencement of vehicle delivery to the customers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the company, Hector MT and CVT have been competitively priced at Rs 5.99 million and Rs 6.49 million respectively. The company claimed that the two variants are in high demand in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issuing a statement on December 9, Paramount Motors said that the new Hector has been designed by taking into consideration the safety and functionality. The new Hector, made in India variant is said to suit the roads and traffic of Nepal and will be available for purchase through the company’s dealerships across the nation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under its corporate social responsibility, Paramount Motors handed over Rs 1 million to help Zonta Club of Kathmandu organize awareness campaign on issues related to domestic violence, work/public harassment and child marriage. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Hectorr.jpg" style="height:214px; width:800px" /></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14221', 'image' => '20211214070043_Hector.jpg', 'article_date' => '2021-12-14 18:58:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $article = array( 'Article' => array( 'id' => '14482', 'article_category_id' => '236', 'title' => 'New Showroom of Renault in Lahan', 'sub_title' => '', 'summary' => 'December 15: A new showroom of Renault has come into operation in Lahan from Monday. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 15: A new showroom of Renault has come into operation in Lahan from Monday. Renault opened the new showroom with the aim of expanding its branches all over Nepal. Renault collaborated with Bhagya Mahalaxmi Automobiles to open the new showroom. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhir Kumar Shrestha, the General Manager of the company and Bipul Bhattarai, the Head of Sales Network, inaugurated the new showroom amid a function. According to a statement issued by the company, the inauguration ceremony was attended chief guest Ashok Lal Amatya from District Chamber of Commerce and Industry, and Ram Shah<strong>, </strong>the director of the Bhagya Laxmi Automobiles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We are committed to provide high quality services to our customers. In addition, we are grateful for the trust that Nepali consumers have put in us,” the statement quoted General Manager Adhir Kumar Shrestha as saying. The head of Sales Network, Bipul Bhattarai reportedly said that the newly opened showroom will provide all necessary services to the customers outside the Kathmandu Valley.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Renault's most popular models Kwid, Triber, Kiger and Duster are available in the new showroom. Customers can also get spare parts, accessories and other services at the showroom.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14227', 'image' => 'Renault.jfif', 'article_date' => '2021-12-15 16:39:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ) $width = (int) 450 $height = (int) 334 $ratio = (float) 1.3473053892216 $img_width = (int) 280 $img_height = (float) 207.82 $date = '2021-12-15 21:48:37' $dateFromDatabase = (int) 1639584217 $dateTwentyforHoursAgo = (int) 1745352226 $today = '2025-04-24 01:48:46am' $today2 = (int) 1745438626 $newDate = 'Dec 15, 2021' $commentCount = (int) 0 $word_count = (int) 386 $time_to_read = (float) 1.93 $time_to_read_min = (float) 1 $time_to_read_second = (float) 56getimagesize - [internal], line ?? include - APP/View/Articles/index.ctp, line 35 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): Division by zero [APP/View/Articles/index.ctp, line 36]Code Context<?phplist($width, $height) = getimagesize(WWW_ROOT.'img'.DS.'news'.DS.'thumbnails'.DS.$article['Article']['image']);$ratio = $width / $height;$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/index.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' => '14489', 'article_category_id' => '1', 'title' => 'Global IME Bank to Borrow $25 million from CDC Group', 'sub_title' => '', 'summary' => 'December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the UK.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the UK. An agreement to this effect was signed on Wednesday, December 15. As per the agreement, the fund needs to be invested in priority sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, CEO of Global IME Bank, and Rabi Rayamajhi, country representative of CDC Group, signed the agreement amid a function. The bank stated that the borrowed amount will help increase the credit flow capacity during the time of liquidity crisis as well as mobilize resources for investment in priority sector specified by the government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hydropower, renewable energy, infrastructure construction, manufacture, agriculture, and tourism sectors fall under Nepal’s priority sector lending. The bank has said that the funding will help with post-COVID recovery and to create jobs that will facilitate sustained inclusive growth across all segments of society in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Srini Nagarajan, the managing director as well as the head of Asia at CDC Group, said that Nepal has always been a high priority country for CDC Group. Nagarajan also said that the CDC Group is committed to continue supporting the economic recovery and sustainable growth of Nepal. Nagarajan said, “Amidst slowdown in global capital flow due to the pandemic, this partnership signifies the vast opportunities in Nepal”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, the CEO of Global IME Bank. expressed his excitement over the partnership and commented that the sanctioned amount would enhance and bolster the lending capacity to businesses across the key economic sectors that fall under priority sector lending.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nicola Politt, the British Ambassador to Nepal, said that the UK has been supporting Nepal against the impacts of climate change and on post-Covid-19 recovery. She also added that this investment will increase access of domestic businesses to finance.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14235', 'image' => '20211216031152_1639571741.jpg', 'article_date' => '2021-12-16 15:11:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14488', 'article_category_id' => '1', 'title' => 'CIAA Files Corruption Case against 5 Officials of KMC', 'sub_title' => '', 'summary' => 'December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Other officials charged by the CIAA include chief of KMC’s procurement unit Bakhat Bahadur Saud, Deputy Director Suman Adhikari, Deputy Director Bir Bahadur Khadka and engineer Umesh Kumar Budhathoki. They have been accused of corruption and misappropriating public property. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the charge-sheet, CIAA has stated that the accused officials selected a contractor for the construction of a building in KMC Ward-12, Teku by preparing a false evaluation report of the applications received through electronic bidding process. The CIAA started investigation after receiving a complaint against the KMC officials for their alleged involvement in forging documents of contract number 33185 NCBW KMC.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to CIAA, the case was filed as they were found to be involved in corruption by preparing forged documents during the technical evaluation process of the contract. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14234', 'image' => '20211216025213_20211210115020_20210624124455_20190205023717_aaaa.jpg', 'article_date' => '2021-12-16 14:51:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14490', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank appoints Dr Bhatta as New Spokesperson', 'sub_title' => '', 'summary' => 'December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. Dr Bhatta is also the Executive Director of the Supervision Department of the central bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, Dev Kumar Dhakal was the spokesperson of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhatta, who holds a doctorate in economics, had taken the responsibility as the spokesperson before this appointment as well.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14233', 'image' => '20211216031743_1639637575.jpg', 'article_date' => '2021-12-16 15:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14487', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Increases to 5.32 Percent', 'sub_title' => '', 'summary' => 'December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago. According to a report made public by the Nepal Rastra Bank (NRB) on Wednesday, food and beverage inflation stood at 4.79 percent whereas non-food and service inflation stood at 5.73 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The price of ghee and oil; transportation; meat and fish; non-alcoholic drinks; tobacco products and pulses and legumes sub-categories rose 29.11 percent, 12.36 percent, 10.91 percent, 10.70 percent 10.30 percent and 10.24 percent respectively on y-o-y basis, says the Current Marcoeconomic and Financial Situation Report published by the NRB. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review month, the Kathmandu Valley, Terai, hill and mountain areas recorded 6.14 percent, 3.95 percent, 7.14 percent and 5.00 percent inflation respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the y-o-y wholesale price inflation stood at 6.68 percent in the review month compared to 9.41 percent a year ago. According to the report, the y-o-y wholesale price of consumption goods, intermediate goods and capital goods increased 7.43 percent, 6.15 percent and 7.26 percent respectively. The wholesale price of construction materials increased 20.10 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, the y-o-y salary and wage rate index increased 5.03 percent in the review month. Such a growth rate was 0.85 percent a year ago. In the review month, salary index and wage rate index increased 9.44 and 3.77 percent, respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The y-o-y consumer price inflation in Nepal in the fourth month of 2020/21 remained 5.32 percent, while inflation in India was 4.91 percent in November 2021.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14232', 'image' => '20211216114757_Macroeconomic-Influencers-19-September.jpg', 'article_date' => '2021-12-16 11:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14486', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Increases by 56.8 Percent', 'sub_title' => '', 'summary' => 'December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22). According to Nepal Rastra Bank (NRB), such a deficit had contracted 12.5 percent in the corresponding period of the previous fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio increased to 12.6 percent in the review period from 10.0 percent in the corresponding period of the previous year, states the Current Marcoeconomic and Financial Situation Report published by the NRB on Wednesday (December 15). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, merchandise exports increased by 104.3 percent to Rs 82.12 billion in the first four months of the current fiscal year compared to an increase of 10.8 percent in the same period of the previous year. Destination-wise, exports to India, China and other countries increased 140.2 percent, 7.3 percent, and 23.5 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export of palm oil, soybean oil, oil cakes, polyester yarn and thread, jute products, among others, increased whereas the export of tea, cardamom, wire, zinc sheet, copper wire rod, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the first four months of FY 2021/22, merchandise imports increased 61.6 percent to Rs 650.29 billion against a decrease of 10.6 percent a year ago. Destination-wise, imports from India, China and other countries increased 46.1 percent, 56.9 percent, and 117.2 percent respectively, states the NRB report. Imports of petroleum products, transport equipment, vehicle and spare parts, crude palm oil, crude soybean oil, silver, among others, increased whereas imports of cement, chemical fertilizer, pulses, molasses sugar, rice/paddy, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Kanchanpur, Krishnanagar, Mechi and Nepalgunj Customs Office decreased whereas exports from all the other customs points increased in the review period. On the import side, imports from all the major customs points increased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14231', 'image' => '20211216113529_Trade.jpg', 'article_date' => '2021-12-16 11:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14485', 'article_category_id' => '1', 'title' => 'Inflow of Remittance Declines by 7.5 Percent: Central Bank', 'sub_title' => '', 'summary' => 'December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank (NRB), the inflow of remittance decreased 7.5 percent to Rs 312.42 billion in the review period against an increase of 11.2 percent in the same period of the previous year. In the US dollar terms, remittance inflows decreased 7.8 percent to 2.63 billion in the review period against an increase of 6.4 percent in the same period of the previous year, shows the Current Marcoeconomic and Financial Situation Report published by NRB on Wednesday, December 15.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report, the number of Nepali migrant workers taking approval for foreign employment increased significantly to 96,382 during the review period. It had decreased 95.7 percent in the same period of the previous year owing to the Covid-19 pandemic.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> The number of Nepali migrant workers (renew entry) taking approval for foreign employment increased 249.1 percent to 59,723 in the review period. It had decreased 78.9 percent in the same period of the previous year, the NRB report further stated. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the net transfer decreased 7.4 percent to Rs 345.65 billion in the review period. Such a transfer had increased 8.9 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14230', 'image' => '20211216112240_Remittance.jpg', 'article_date' => '2021-12-16 11:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14484', 'article_category_id' => '1', 'title' => 'Chitwan International Industrial Expo from December 17 ', 'sub_title' => '', 'summary' => 'December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. The event is being co-organised by the Chitwan Association of Industries and the Confederation of Nepalese Industries. </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 organizers said in a recent press conference that the preparation for the expo has reached the final stage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Chitwan Association of Industries Trilochan Kandel said the expo will feature 200 stalls including 50 from India. The expo aims to promote industrial sector affected by COVID-19. The objective of the expo is to support in revival of the nation’s economy hit by the pandemic instead of securing a profit, the organizers said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14229', 'image' => '20211216081758_Chitwan-International-Industrial-Expo-2021-01.jpg', 'article_date' => '2021-12-16 08:17:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14483', 'article_category_id' => '1', 'title' => 'Country’s Balance of Payments in Deficit of Rs 150 Billion', 'sub_title' => '', 'summary' => 'December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the current macroeconomic and financial situation report of the country unveiled by the Nepal Rastra Bank (NRB) on Wednesday (December 15), the BOP remained at a deficit of 1.26 billion in terms of US dollars in the review period against a surplus of 931.7 million in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report states that the current account remained at a deficit of Rs 223.19 billion in the review period against a surplus of Rs 19.01 billion in the same period of the previous year. In the US Dollar terms, the current account registered a deficit of 1.88 billion in the review period against a surplus of 158.6 million in the same period last year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 39.3 percent to Rs 2.52 billion and net foreign direct investment (FDI) increased 77.0 percent to Rs 6.63 billion, the report further states. In the same period of the previous year, capital transfer and net FDI amounted to Rs 4.15 billion and Rs 3.75 billion respectively.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, gross foreign exchange reserves decreased 11.0 percent to Rs 1244.85 billion in mid-November 2021 from Rs 1399.03 billion in mid-July 2021. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 11.0 percent to Rs 1107.47 billion in mid-November 2021 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 11.0 percent to Rs 137.38 billion in mid-November 2021 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 26.1 percent in mid-November 2021. </span></span></p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14228', 'image' => '20211215094940_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-15 21:48:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14482', 'article_category_id' => '236', 'title' => 'New Showroom of Renault in Lahan', 'sub_title' => '', 'summary' => 'December 15: A new showroom of Renault has come into operation in Lahan from Monday. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 15: A new showroom of Renault has come into operation in Lahan from Monday. Renault opened the new showroom with the aim of expanding its branches all over Nepal. Renault collaborated with Bhagya Mahalaxmi Automobiles to open the new showroom. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhir Kumar Shrestha, the General Manager of the company and Bipul Bhattarai, the Head of Sales Network, inaugurated the new showroom amid a function. According to a statement issued by the company, the inauguration ceremony was attended chief guest Ashok Lal Amatya from District Chamber of Commerce and Industry, and Ram Shah<strong>, </strong>the director of the Bhagya Laxmi Automobiles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We are committed to provide high quality services to our customers. In addition, we are grateful for the trust that Nepali consumers have put in us,” the statement quoted General Manager Adhir Kumar Shrestha as saying. The head of Sales Network, Bipul Bhattarai reportedly said that the newly opened showroom will provide all necessary services to the customers outside the Kathmandu Valley.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Renault's most popular models Kwid, Triber, Kiger and Duster are available in the new showroom. Customers can also get spare parts, accessories and other services at the showroom.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14227', 'image' => 'Renault.jfif', 'article_date' => '2021-12-15 16:39:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14481', 'article_category_id' => '1', 'title' => 'Commercial Farming of Turmeric Flourishing in Udayapur ', 'sub_title' => '', 'summary' => 'December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. </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"">Farmers of Siddhipur had started commercial farming of turmeric 10 years ago. Until two years ago, the farmers of Siddhipur used to produce turmeric worth Rs 10 million annually. But the production has increased since last year. Turmeric worth Rs 15 million was produced last year, according to the state-owned national news agency RSS.</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"">Mayor of the Chaudandigadhi Municipality, Khagendra Kumar Rai, said that Siddhipur area has been declared as top turmeric pocket area of the district. </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"">Around 40 farmers of Siddhipur are currently involved in commercial farming of turmeric, RSS further reported. Chief of the District Agriculture Knowledge Centre, Udayapur, Mahesh Chaudhary, informed that commercial farming of turmeric has increased in the area. Commercial turmeric farming is being done in around 137 hectares of land in the district and around 800 metric tonnes of turmeric is produced here annually, he informed. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, Biratnagar-based Golchha and Dugad Mills buy most of the turmeric produced in the district. </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"">Moreover, Saune Khanbu of Triyuga Municipality, Mainamaini and Babala of Belaka, Risku of Katari Municipality and Sirise, Hardeni, Bhalayadanda, and Danuwarbesi areas are also the pocket areas of turmeric, according to the Centre. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14226', 'image' => '20211215043215_85427212.jpg', 'article_date' => '2021-12-15 16:31:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14480', 'article_category_id' => '1', 'title' => 'Bangladesh Willing to Buy Surplus Energy from Nepal', 'sub_title' => '', 'summary' => 'December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal. Minister of State for Power, Energy, and Mineral Resources of Bangladesh, Nasrul Hamid, made such remarks during a meeting with a visiting delegation of the Confederation of Nepalese Industries (CNI) in Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The electricity generated in Nepal is being wasted without being consumed," he said, adding, "We can buy that electricity."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said Bangladesh has also done its homework to sign a long-term power purchase agreement (PPA) with Nepal's private sector. Due to a lack of market management in Nepal, 500 MW of electricity was wasted during the last monsoon. It has caused a loss of Rs 5 billion. Electricity generated in Nepal is being wasted due to the lack of adequate transmission lines and internal and external markets.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said that Bangladesh is ready to upgrade infrastructure of the transmission line for the import of electricity from Nepal. Bangladesh will initiate the construction of a dedicated line, assured Hamid. He also said that Bangladesh will import 3,500 MW of electricity generated in Nepal by 2026.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Minister of State Hamid also expressed his commitment to discuss the issue with Nepal's private sector. "I will visit Nepal in March to finalize this issue," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The prospect of trilateral electricity trade has opened since India issued the Interstate Energy Trade Procedure in March 2021.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> This procedure has ended the dilemma regarding regulation and legal mechanisms in the international electricity trade. Although India is a potential market for Nepal's electricity, the private sector has become optimistic about inter-country electricity trade with Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bangladesh needs 24,000 MW of renewable energy by 2040 and plans to shut down coal-powered energy in the next four years. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the meeting, the President of the Confederation of Nepalese Industries Bishnu Kumar Agrawal urged the Minister of State Hamid to purchase electricity through PPA directly with the private sector of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ashish Garg, chairman of the confederation's infrastructure committee and vice-chairman of the Independent Power Producers' Association, gave a presentation on the state of power generation and power consumption in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Former president of the confederation Hari Bhakta Sharma, vice presidents Nirvana Chaudhary, Krishna Prasad Adhikari, and Virendra Raj Pandey and members of the National Council Laxmi Prasad Subedi, Bhim Prasad Ghimire, Dwiraj Sharma, and outgoing president of Chitwan Industries Association Raju Poudel were present at the meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Acting Ambassador of Nepal in Dhaka Kumar Rai and Director General of the Confederation Yadav Prasad Poudel, and Director Sabin Mishra were also present on the occasion.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14225', 'image' => '20211215042025_1639490269.cni_dhaka.jpg', 'article_date' => '2021-12-15 16:19:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14479', 'article_category_id' => '1', 'title' => 'Government Urged to Implement Provision Obliging Employers to Bear Costs of Foreign Employment ', 'sub_title' => '', 'summary' => 'December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Making public a study report on the evaluation of manpower company services amidst a programme on Tuesday, GEFONT recommended the government to fully implement the provision that the employers should provide enrollment fee and expenses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study has found that the aspiring migrant workers are forced to pay enrollment fee of Rs 100,000 in an average. Around 98 percent of the respondents out of a total of 1,593 surveyed during the study said they paid high enrollment fee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Less than two percent of the respondents said that they did not have to pay any enrollment fee and costs in course of foreign employment. The prevailing provision obliges the employers to bear all the expenses involved in course of the enrollment of workers in foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the bilateral labour pacts signed by the government with the labour destination countries, including Jordan, Malaysia, United Arab Emirates (UAE) and Mauritius, have provision obliging employers to bear all costs involved in foreign employment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14224', 'image' => '20211215023334_20200315123851_1111.jpg', 'article_date' => '2021-12-15 14:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14478', 'article_category_id' => '1', 'title' => 'Chances of MCC Ratification from Parliament get Slim', 'sub_title' => '', 'summary' => 'December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. The parliament session which resumed from Tuesday (December 14) was obstructed again by the main opposition party CPN UML. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the UML parliamentary party held before the start of the parliament session could not reach a conclusion about the MCC. The meeting decided to make public the party’s official stance only after the MCC grant agreement is presented in the parliament, according to Bishal Bhattarai, a UML leader.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the CPN-Maoist parliamentary party also could not take any concrete decision. Instead, Pushpa Kamal Dahal, chairman of the party, briefed about recent political issues. According to Maoist lawmaker Rekha Sharma, Chairman Dahal also presented his opinions on the US-funded project. Dahal said MCC would not be tabled in the House without reaching consensus among the parties. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">She further said that the Maoist party is committed to its previous position on MCC. “We won’t support it until and unless the provisions against national interests are amended,” reiterated Dahal. While the US is pushing for MCC's early approval, the issue has not been discussed by the Nepali Congress which is preoccupied with the party’s general convention.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The MCC was expected to be ratified on Tuesday itself since the parliament session was called on the same day the board meeting of MCC was scheduled in Washington DC. During his recent visit, Donald Lu, US Assistant Secretary of State, had suggested to Prime Minister Sher Bahadur Deuba to take a decision on MCC before the MCC board meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba has been reiterating that the MCC should be approved by the parliament. He has assured MCC Vice President Fatima Sumar, who visited Nepal in September, Alexia Latortu, MCC's Deputy Chief Executive Officer in Glasgow, and Lu that the agreement would be ratified. However, Deuba has not been able to make any headway due to lack of agreement among the ruling coalition. The Nepali Congress and the Maoists, who were in power when the MCC was signed, are again the key partners of the current government. </span></span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Parliament obstruction continues</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first meeting of the 10th session of the House of Representatives held on December 14, Speaker Agni Prasad Sapkota urged the lawmakers not to obstruct the house session but the lawmakers of the main opposition party UML continued their protest. Despite the obstruction, six ordinances were tabled in the lower house meeting.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14223', 'image' => '20211215012519_MCC.jpg', 'article_date' => '2021-12-15 13:24:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14477', 'article_category_id' => '1', 'title' => 'Use Locally Made Handicraft Products: Vice President Pun', 'sub_title' => '', 'summary' => 'December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.</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"">Speaking at a programme organized to mark the 50th anniversary of the Federation of Handicraft Associations of Nepal and 10th Handicraft Day on Tuesday (December 14), Vice-President Pun said that the government should give high priority to the handicraft industry.</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"">"Government should give highest priority to handicraft sector which has helped maintain the identity of Nepal in the international arena and has also supported in creating job opportunities in the country," Pun reiterated. </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 vice president also appealed to all the government agencies to use domestic handicraft products. He added that the export of handicraft has been playing an important role in reducing trade deficit. </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"">Similarly, President of the federation Surendra Bhai Shakya said that they require cooperation and collaboration from all three tiers of governments to revitalize the handicraft sector that has been hard hit by the outbreak of COVID-19. He shared that various events would be held during the golden jubilee year of the federation including seminars and conferences to promote domestic handicraft products. </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"">Likewise, the federation's vice-chair Rabindra Shakya said that a policy related to handicraft should be formulated for the development and promotion of handicraft products. On the occasion, the federation felicitated its founding president Sagar Shumsher Rana, as well as founding member Motilal Shilpakar and best exporter of handicraft products Maheshwor Shrestha, Sunita Sherpa and Naresh Lal Shrestha among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14222', 'image' => '20211215112441_20170913113102_sect.jpg', 'article_date' => '2021-12-15 11:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14476', 'article_category_id' => '236', 'title' => 'Paramount Motors Launch MG Hector in Nepal', 'sub_title' => 'Pricing Starts at Rs 5.99 Million', 'summary' => 'December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector. The new model of MG Motors was launched recently at the company’s showroom in Naxal showroom amid a press conference. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Following the launch, Paramount Motors unveiled the price of the new model and announced the commencement of vehicle delivery to the customers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the company, Hector MT and CVT have been competitively priced at Rs 5.99 million and Rs 6.49 million respectively. The company claimed that the two variants are in high demand in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issuing a statement on December 9, Paramount Motors said that the new Hector has been designed by taking into consideration the safety and functionality. The new Hector, made in India variant is said to suit the roads and traffic of Nepal and will be available for purchase through the company’s dealerships across the nation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under its corporate social responsibility, Paramount Motors handed over Rs 1 million to help Zonta Club of Kathmandu organize awareness campaign on issues related to domestic violence, work/public harassment and child marriage. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Hectorr.jpg" style="height:214px; width:800px" /></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14221', 'image' => '20211214070043_Hector.jpg', 'article_date' => '2021-12-14 18:58:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $article = array( 'Article' => array( 'id' => '14482', 'article_category_id' => '236', 'title' => 'New Showroom of Renault in Lahan', 'sub_title' => '', 'summary' => 'December 15: A new showroom of Renault has come into operation in Lahan from Monday. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 15: A new showroom of Renault has come into operation in Lahan from Monday. Renault opened the new showroom with the aim of expanding its branches all over Nepal. Renault collaborated with Bhagya Mahalaxmi Automobiles to open the new showroom. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhir Kumar Shrestha, the General Manager of the company and Bipul Bhattarai, the Head of Sales Network, inaugurated the new showroom amid a function. According to a statement issued by the company, the inauguration ceremony was attended chief guest Ashok Lal Amatya from District Chamber of Commerce and Industry, and Ram Shah<strong>, </strong>the director of the Bhagya Laxmi Automobiles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We are committed to provide high quality services to our customers. In addition, we are grateful for the trust that Nepali consumers have put in us,” the statement quoted General Manager Adhir Kumar Shrestha as saying. The head of Sales Network, Bipul Bhattarai reportedly said that the newly opened showroom will provide all necessary services to the customers outside the Kathmandu Valley.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Renault's most popular models Kwid, Triber, Kiger and Duster are available in the new showroom. Customers can also get spare parts, accessories and other services at the showroom.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14227', 'image' => 'Renault.jfif', 'article_date' => '2021-12-15 16:39:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ) $width = null $height = null $ratio = (float) 1.3473053892216 $img_width = (int) 280 $img_height = (float) 207.82 $date = '2021-12-15 21:48:37' $dateFromDatabase = (int) 1639584217 $dateTwentyforHoursAgo = (int) 1745352226 $today = '2025-04-24 01:48:46am' $today2 = (int) 1745438626 $newDate = 'Dec 15, 2021' $commentCount = (int) 0 $word_count = (int) 386 $time_to_read = (float) 1.93 $time_to_read_min = (float) 1 $time_to_read_second = (float) 56include - APP/View/Articles/index.ctp, line 36 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
December 15: A new showroom of Renault has come into operation in Lahan from Monday.…
December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of…
December 15: Bangladesh has expressed its willingness to purchase surplus electricity from…
December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign…
December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer.…
December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their…
December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]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' => '14489', 'article_category_id' => '1', 'title' => 'Global IME Bank to Borrow $25 million from CDC Group', 'sub_title' => '', 'summary' => 'December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the UK.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the UK. An agreement to this effect was signed on Wednesday, December 15. As per the agreement, the fund needs to be invested in priority sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, CEO of Global IME Bank, and Rabi Rayamajhi, country representative of CDC Group, signed the agreement amid a function. The bank stated that the borrowed amount will help increase the credit flow capacity during the time of liquidity crisis as well as mobilize resources for investment in priority sector specified by the government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hydropower, renewable energy, infrastructure construction, manufacture, agriculture, and tourism sectors fall under Nepal’s priority sector lending. The bank has said that the funding will help with post-COVID recovery and to create jobs that will facilitate sustained inclusive growth across all segments of society in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Srini Nagarajan, the managing director as well as the head of Asia at CDC Group, said that Nepal has always been a high priority country for CDC Group. Nagarajan also said that the CDC Group is committed to continue supporting the economic recovery and sustainable growth of Nepal. Nagarajan said, “Amidst slowdown in global capital flow due to the pandemic, this partnership signifies the vast opportunities in Nepal”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, the CEO of Global IME Bank. expressed his excitement over the partnership and commented that the sanctioned amount would enhance and bolster the lending capacity to businesses across the key economic sectors that fall under priority sector lending.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nicola Politt, the British Ambassador to Nepal, said that the UK has been supporting Nepal against the impacts of climate change and on post-Covid-19 recovery. She also added that this investment will increase access of domestic businesses to finance.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14235', 'image' => '20211216031152_1639571741.jpg', 'article_date' => '2021-12-16 15:11:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14488', 'article_category_id' => '1', 'title' => 'CIAA Files Corruption Case against 5 Officials of KMC', 'sub_title' => '', 'summary' => 'December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Other officials charged by the CIAA include chief of KMC’s procurement unit Bakhat Bahadur Saud, Deputy Director Suman Adhikari, Deputy Director Bir Bahadur Khadka and engineer Umesh Kumar Budhathoki. They have been accused of corruption and misappropriating public property. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the charge-sheet, CIAA has stated that the accused officials selected a contractor for the construction of a building in KMC Ward-12, Teku by preparing a false evaluation report of the applications received through electronic bidding process. The CIAA started investigation after receiving a complaint against the KMC officials for their alleged involvement in forging documents of contract number 33185 NCBW KMC.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to CIAA, the case was filed as they were found to be involved in corruption by preparing forged documents during the technical evaluation process of the contract. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14234', 'image' => '20211216025213_20211210115020_20210624124455_20190205023717_aaaa.jpg', 'article_date' => '2021-12-16 14:51:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14490', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank appoints Dr Bhatta as New Spokesperson', 'sub_title' => '', 'summary' => 'December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. Dr Bhatta is also the Executive Director of the Supervision Department of the central bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, Dev Kumar Dhakal was the spokesperson of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhatta, who holds a doctorate in economics, had taken the responsibility as the spokesperson before this appointment as well.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14233', 'image' => '20211216031743_1639637575.jpg', 'article_date' => '2021-12-16 15:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14487', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Increases to 5.32 Percent', 'sub_title' => '', 'summary' => 'December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago. According to a report made public by the Nepal Rastra Bank (NRB) on Wednesday, food and beverage inflation stood at 4.79 percent whereas non-food and service inflation stood at 5.73 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The price of ghee and oil; transportation; meat and fish; non-alcoholic drinks; tobacco products and pulses and legumes sub-categories rose 29.11 percent, 12.36 percent, 10.91 percent, 10.70 percent 10.30 percent and 10.24 percent respectively on y-o-y basis, says the Current Marcoeconomic and Financial Situation Report published by the NRB. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review month, the Kathmandu Valley, Terai, hill and mountain areas recorded 6.14 percent, 3.95 percent, 7.14 percent and 5.00 percent inflation respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the y-o-y wholesale price inflation stood at 6.68 percent in the review month compared to 9.41 percent a year ago. According to the report, the y-o-y wholesale price of consumption goods, intermediate goods and capital goods increased 7.43 percent, 6.15 percent and 7.26 percent respectively. The wholesale price of construction materials increased 20.10 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, the y-o-y salary and wage rate index increased 5.03 percent in the review month. Such a growth rate was 0.85 percent a year ago. In the review month, salary index and wage rate index increased 9.44 and 3.77 percent, respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The y-o-y consumer price inflation in Nepal in the fourth month of 2020/21 remained 5.32 percent, while inflation in India was 4.91 percent in November 2021.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14232', 'image' => '20211216114757_Macroeconomic-Influencers-19-September.jpg', 'article_date' => '2021-12-16 11:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14486', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Increases by 56.8 Percent', 'sub_title' => '', 'summary' => 'December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22). According to Nepal Rastra Bank (NRB), such a deficit had contracted 12.5 percent in the corresponding period of the previous fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio increased to 12.6 percent in the review period from 10.0 percent in the corresponding period of the previous year, states the Current Marcoeconomic and Financial Situation Report published by the NRB on Wednesday (December 15). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, merchandise exports increased by 104.3 percent to Rs 82.12 billion in the first four months of the current fiscal year compared to an increase of 10.8 percent in the same period of the previous year. Destination-wise, exports to India, China and other countries increased 140.2 percent, 7.3 percent, and 23.5 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export of palm oil, soybean oil, oil cakes, polyester yarn and thread, jute products, among others, increased whereas the export of tea, cardamom, wire, zinc sheet, copper wire rod, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the first four months of FY 2021/22, merchandise imports increased 61.6 percent to Rs 650.29 billion against a decrease of 10.6 percent a year ago. Destination-wise, imports from India, China and other countries increased 46.1 percent, 56.9 percent, and 117.2 percent respectively, states the NRB report. Imports of petroleum products, transport equipment, vehicle and spare parts, crude palm oil, crude soybean oil, silver, among others, increased whereas imports of cement, chemical fertilizer, pulses, molasses sugar, rice/paddy, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Kanchanpur, Krishnanagar, Mechi and Nepalgunj Customs Office decreased whereas exports from all the other customs points increased in the review period. On the import side, imports from all the major customs points increased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14231', 'image' => '20211216113529_Trade.jpg', 'article_date' => '2021-12-16 11:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14485', 'article_category_id' => '1', 'title' => 'Inflow of Remittance Declines by 7.5 Percent: Central Bank', 'sub_title' => '', 'summary' => 'December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank (NRB), the inflow of remittance decreased 7.5 percent to Rs 312.42 billion in the review period against an increase of 11.2 percent in the same period of the previous year. In the US dollar terms, remittance inflows decreased 7.8 percent to 2.63 billion in the review period against an increase of 6.4 percent in the same period of the previous year, shows the Current Marcoeconomic and Financial Situation Report published by NRB on Wednesday, December 15.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report, the number of Nepali migrant workers taking approval for foreign employment increased significantly to 96,382 during the review period. It had decreased 95.7 percent in the same period of the previous year owing to the Covid-19 pandemic.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> The number of Nepali migrant workers (renew entry) taking approval for foreign employment increased 249.1 percent to 59,723 in the review period. It had decreased 78.9 percent in the same period of the previous year, the NRB report further stated. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the net transfer decreased 7.4 percent to Rs 345.65 billion in the review period. Such a transfer had increased 8.9 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14230', 'image' => '20211216112240_Remittance.jpg', 'article_date' => '2021-12-16 11:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14484', 'article_category_id' => '1', 'title' => 'Chitwan International Industrial Expo from December 17 ', 'sub_title' => '', 'summary' => 'December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. The event is being co-organised by the Chitwan Association of Industries and the Confederation of Nepalese Industries. </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 organizers said in a recent press conference that the preparation for the expo has reached the final stage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Chitwan Association of Industries Trilochan Kandel said the expo will feature 200 stalls including 50 from India. The expo aims to promote industrial sector affected by COVID-19. The objective of the expo is to support in revival of the nation’s economy hit by the pandemic instead of securing a profit, the organizers said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14229', 'image' => '20211216081758_Chitwan-International-Industrial-Expo-2021-01.jpg', 'article_date' => '2021-12-16 08:17:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14483', 'article_category_id' => '1', 'title' => 'Country’s Balance of Payments in Deficit of Rs 150 Billion', 'sub_title' => '', 'summary' => 'December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the current macroeconomic and financial situation report of the country unveiled by the Nepal Rastra Bank (NRB) on Wednesday (December 15), the BOP remained at a deficit of 1.26 billion in terms of US dollars in the review period against a surplus of 931.7 million in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report states that the current account remained at a deficit of Rs 223.19 billion in the review period against a surplus of Rs 19.01 billion in the same period of the previous year. In the US Dollar terms, the current account registered a deficit of 1.88 billion in the review period against a surplus of 158.6 million in the same period last year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 39.3 percent to Rs 2.52 billion and net foreign direct investment (FDI) increased 77.0 percent to Rs 6.63 billion, the report further states. In the same period of the previous year, capital transfer and net FDI amounted to Rs 4.15 billion and Rs 3.75 billion respectively.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, gross foreign exchange reserves decreased 11.0 percent to Rs 1244.85 billion in mid-November 2021 from Rs 1399.03 billion in mid-July 2021. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 11.0 percent to Rs 1107.47 billion in mid-November 2021 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 11.0 percent to Rs 137.38 billion in mid-November 2021 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 26.1 percent in mid-November 2021. </span></span></p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14228', 'image' => '20211215094940_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-15 21:48:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14482', 'article_category_id' => '236', 'title' => 'New Showroom of Renault in Lahan', 'sub_title' => '', 'summary' => 'December 15: A new showroom of Renault has come into operation in Lahan from Monday. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 15: A new showroom of Renault has come into operation in Lahan from Monday. Renault opened the new showroom with the aim of expanding its branches all over Nepal. Renault collaborated with Bhagya Mahalaxmi Automobiles to open the new showroom. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhir Kumar Shrestha, the General Manager of the company and Bipul Bhattarai, the Head of Sales Network, inaugurated the new showroom amid a function. According to a statement issued by the company, the inauguration ceremony was attended chief guest Ashok Lal Amatya from District Chamber of Commerce and Industry, and Ram Shah<strong>, </strong>the director of the Bhagya Laxmi Automobiles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We are committed to provide high quality services to our customers. In addition, we are grateful for the trust that Nepali consumers have put in us,” the statement quoted General Manager Adhir Kumar Shrestha as saying. The head of Sales Network, Bipul Bhattarai reportedly said that the newly opened showroom will provide all necessary services to the customers outside the Kathmandu Valley.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Renault's most popular models Kwid, Triber, Kiger and Duster are available in the new showroom. Customers can also get spare parts, accessories and other services at the showroom.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14227', 'image' => 'Renault.jfif', 'article_date' => '2021-12-15 16:39:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14481', 'article_category_id' => '1', 'title' => 'Commercial Farming of Turmeric Flourishing in Udayapur ', 'sub_title' => '', 'summary' => 'December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. </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"">Farmers of Siddhipur had started commercial farming of turmeric 10 years ago. Until two years ago, the farmers of Siddhipur used to produce turmeric worth Rs 10 million annually. But the production has increased since last year. Turmeric worth Rs 15 million was produced last year, according to the state-owned national news agency RSS.</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"">Mayor of the Chaudandigadhi Municipality, Khagendra Kumar Rai, said that Siddhipur area has been declared as top turmeric pocket area of the district. </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"">Around 40 farmers of Siddhipur are currently involved in commercial farming of turmeric, RSS further reported. Chief of the District Agriculture Knowledge Centre, Udayapur, Mahesh Chaudhary, informed that commercial farming of turmeric has increased in the area. Commercial turmeric farming is being done in around 137 hectares of land in the district and around 800 metric tonnes of turmeric is produced here annually, he informed. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, Biratnagar-based Golchha and Dugad Mills buy most of the turmeric produced in the district. </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"">Moreover, Saune Khanbu of Triyuga Municipality, Mainamaini and Babala of Belaka, Risku of Katari Municipality and Sirise, Hardeni, Bhalayadanda, and Danuwarbesi areas are also the pocket areas of turmeric, according to the Centre. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14226', 'image' => '20211215043215_85427212.jpg', 'article_date' => '2021-12-15 16:31:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14480', 'article_category_id' => '1', 'title' => 'Bangladesh Willing to Buy Surplus Energy from Nepal', 'sub_title' => '', 'summary' => 'December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal. Minister of State for Power, Energy, and Mineral Resources of Bangladesh, Nasrul Hamid, made such remarks during a meeting with a visiting delegation of the Confederation of Nepalese Industries (CNI) in Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The electricity generated in Nepal is being wasted without being consumed," he said, adding, "We can buy that electricity."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said Bangladesh has also done its homework to sign a long-term power purchase agreement (PPA) with Nepal's private sector. Due to a lack of market management in Nepal, 500 MW of electricity was wasted during the last monsoon. It has caused a loss of Rs 5 billion. Electricity generated in Nepal is being wasted due to the lack of adequate transmission lines and internal and external markets.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said that Bangladesh is ready to upgrade infrastructure of the transmission line for the import of electricity from Nepal. Bangladesh will initiate the construction of a dedicated line, assured Hamid. He also said that Bangladesh will import 3,500 MW of electricity generated in Nepal by 2026.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Minister of State Hamid also expressed his commitment to discuss the issue with Nepal's private sector. "I will visit Nepal in March to finalize this issue," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The prospect of trilateral electricity trade has opened since India issued the Interstate Energy Trade Procedure in March 2021.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> This procedure has ended the dilemma regarding regulation and legal mechanisms in the international electricity trade. Although India is a potential market for Nepal's electricity, the private sector has become optimistic about inter-country electricity trade with Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bangladesh needs 24,000 MW of renewable energy by 2040 and plans to shut down coal-powered energy in the next four years. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the meeting, the President of the Confederation of Nepalese Industries Bishnu Kumar Agrawal urged the Minister of State Hamid to purchase electricity through PPA directly with the private sector of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ashish Garg, chairman of the confederation's infrastructure committee and vice-chairman of the Independent Power Producers' Association, gave a presentation on the state of power generation and power consumption in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Former president of the confederation Hari Bhakta Sharma, vice presidents Nirvana Chaudhary, Krishna Prasad Adhikari, and Virendra Raj Pandey and members of the National Council Laxmi Prasad Subedi, Bhim Prasad Ghimire, Dwiraj Sharma, and outgoing president of Chitwan Industries Association Raju Poudel were present at the meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Acting Ambassador of Nepal in Dhaka Kumar Rai and Director General of the Confederation Yadav Prasad Poudel, and Director Sabin Mishra were also present on the occasion.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14225', 'image' => '20211215042025_1639490269.cni_dhaka.jpg', 'article_date' => '2021-12-15 16:19:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14479', 'article_category_id' => '1', 'title' => 'Government Urged to Implement Provision Obliging Employers to Bear Costs of Foreign Employment ', 'sub_title' => '', 'summary' => 'December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Making public a study report on the evaluation of manpower company services amidst a programme on Tuesday, GEFONT recommended the government to fully implement the provision that the employers should provide enrollment fee and expenses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study has found that the aspiring migrant workers are forced to pay enrollment fee of Rs 100,000 in an average. Around 98 percent of the respondents out of a total of 1,593 surveyed during the study said they paid high enrollment fee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Less than two percent of the respondents said that they did not have to pay any enrollment fee and costs in course of foreign employment. The prevailing provision obliges the employers to bear all the expenses involved in course of the enrollment of workers in foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the bilateral labour pacts signed by the government with the labour destination countries, including Jordan, Malaysia, United Arab Emirates (UAE) and Mauritius, have provision obliging employers to bear all costs involved in foreign employment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14224', 'image' => '20211215023334_20200315123851_1111.jpg', 'article_date' => '2021-12-15 14:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14478', 'article_category_id' => '1', 'title' => 'Chances of MCC Ratification from Parliament get Slim', 'sub_title' => '', 'summary' => 'December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. The parliament session which resumed from Tuesday (December 14) was obstructed again by the main opposition party CPN UML. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the UML parliamentary party held before the start of the parliament session could not reach a conclusion about the MCC. The meeting decided to make public the party’s official stance only after the MCC grant agreement is presented in the parliament, according to Bishal Bhattarai, a UML leader.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the CPN-Maoist parliamentary party also could not take any concrete decision. Instead, Pushpa Kamal Dahal, chairman of the party, briefed about recent political issues. According to Maoist lawmaker Rekha Sharma, Chairman Dahal also presented his opinions on the US-funded project. Dahal said MCC would not be tabled in the House without reaching consensus among the parties. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">She further said that the Maoist party is committed to its previous position on MCC. “We won’t support it until and unless the provisions against national interests are amended,” reiterated Dahal. While the US is pushing for MCC's early approval, the issue has not been discussed by the Nepali Congress which is preoccupied with the party’s general convention.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The MCC was expected to be ratified on Tuesday itself since the parliament session was called on the same day the board meeting of MCC was scheduled in Washington DC. During his recent visit, Donald Lu, US Assistant Secretary of State, had suggested to Prime Minister Sher Bahadur Deuba to take a decision on MCC before the MCC board meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba has been reiterating that the MCC should be approved by the parliament. He has assured MCC Vice President Fatima Sumar, who visited Nepal in September, Alexia Latortu, MCC's Deputy Chief Executive Officer in Glasgow, and Lu that the agreement would be ratified. However, Deuba has not been able to make any headway due to lack of agreement among the ruling coalition. The Nepali Congress and the Maoists, who were in power when the MCC was signed, are again the key partners of the current government. </span></span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Parliament obstruction continues</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first meeting of the 10th session of the House of Representatives held on December 14, Speaker Agni Prasad Sapkota urged the lawmakers not to obstruct the house session but the lawmakers of the main opposition party UML continued their protest. Despite the obstruction, six ordinances were tabled in the lower house meeting.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14223', 'image' => '20211215012519_MCC.jpg', 'article_date' => '2021-12-15 13:24:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14477', 'article_category_id' => '1', 'title' => 'Use Locally Made Handicraft Products: Vice President Pun', 'sub_title' => '', 'summary' => 'December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.</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"">Speaking at a programme organized to mark the 50th anniversary of the Federation of Handicraft Associations of Nepal and 10th Handicraft Day on Tuesday (December 14), Vice-President Pun said that the government should give high priority to the handicraft industry.</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"">"Government should give highest priority to handicraft sector which has helped maintain the identity of Nepal in the international arena and has also supported in creating job opportunities in the country," Pun reiterated. </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 vice president also appealed to all the government agencies to use domestic handicraft products. He added that the export of handicraft has been playing an important role in reducing trade deficit. </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"">Similarly, President of the federation Surendra Bhai Shakya said that they require cooperation and collaboration from all three tiers of governments to revitalize the handicraft sector that has been hard hit by the outbreak of COVID-19. He shared that various events would be held during the golden jubilee year of the federation including seminars and conferences to promote domestic handicraft products. </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"">Likewise, the federation's vice-chair Rabindra Shakya said that a policy related to handicraft should be formulated for the development and promotion of handicraft products. On the occasion, the federation felicitated its founding president Sagar Shumsher Rana, as well as founding member Motilal Shilpakar and best exporter of handicraft products Maheshwor Shrestha, Sunita Sherpa and Naresh Lal Shrestha among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14222', 'image' => '20211215112441_20170913113102_sect.jpg', 'article_date' => '2021-12-15 11:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14476', 'article_category_id' => '236', 'title' => 'Paramount Motors Launch MG Hector in Nepal', 'sub_title' => 'Pricing Starts at Rs 5.99 Million', 'summary' => 'December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector. The new model of MG Motors was launched recently at the company’s showroom in Naxal showroom amid a press conference. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Following the launch, Paramount Motors unveiled the price of the new model and announced the commencement of vehicle delivery to the customers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the company, Hector MT and CVT have been competitively priced at Rs 5.99 million and Rs 6.49 million respectively. The company claimed that the two variants are in high demand in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issuing a statement on December 9, Paramount Motors said that the new Hector has been designed by taking into consideration the safety and functionality. The new Hector, made in India variant is said to suit the roads and traffic of Nepal and will be available for purchase through the company’s dealerships across the nation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under its corporate social responsibility, Paramount Motors handed over Rs 1 million to help Zonta Club of Kathmandu organize awareness campaign on issues related to domestic violence, work/public harassment and child marriage. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Hectorr.jpg" style="height:214px; width:800px" /></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14221', 'image' => '20211214070043_Hector.jpg', 'article_date' => '2021-12-14 18:58:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, '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' => '14489', 'article_category_id' => '1', 'title' => 'Global IME Bank to Borrow $25 million from CDC Group', 'sub_title' => '', 'summary' => 'December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the UK.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the UK. An agreement to this effect was signed on Wednesday, December 15. As per the agreement, the fund needs to be invested in priority sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, CEO of Global IME Bank, and Rabi Rayamajhi, country representative of CDC Group, signed the agreement amid a function. The bank stated that the borrowed amount will help increase the credit flow capacity during the time of liquidity crisis as well as mobilize resources for investment in priority sector specified by the government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hydropower, renewable energy, infrastructure construction, manufacture, agriculture, and tourism sectors fall under Nepal’s priority sector lending. The bank has said that the funding will help with post-COVID recovery and to create jobs that will facilitate sustained inclusive growth across all segments of society in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Srini Nagarajan, the managing director as well as the head of Asia at CDC Group, said that Nepal has always been a high priority country for CDC Group. Nagarajan also said that the CDC Group is committed to continue supporting the economic recovery and sustainable growth of Nepal. Nagarajan said, “Amidst slowdown in global capital flow due to the pandemic, this partnership signifies the vast opportunities in Nepal”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, the CEO of Global IME Bank. expressed his excitement over the partnership and commented that the sanctioned amount would enhance and bolster the lending capacity to businesses across the key economic sectors that fall under priority sector lending.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nicola Politt, the British Ambassador to Nepal, said that the UK has been supporting Nepal against the impacts of climate change and on post-Covid-19 recovery. She also added that this investment will increase access of domestic businesses to finance.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14235', 'image' => '20211216031152_1639571741.jpg', 'article_date' => '2021-12-16 15:11:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14488', 'article_category_id' => '1', 'title' => 'CIAA Files Corruption Case against 5 Officials of KMC', 'sub_title' => '', 'summary' => 'December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Other officials charged by the CIAA include chief of KMC’s procurement unit Bakhat Bahadur Saud, Deputy Director Suman Adhikari, Deputy Director Bir Bahadur Khadka and engineer Umesh Kumar Budhathoki. They have been accused of corruption and misappropriating public property. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the charge-sheet, CIAA has stated that the accused officials selected a contractor for the construction of a building in KMC Ward-12, Teku by preparing a false evaluation report of the applications received through electronic bidding process. The CIAA started investigation after receiving a complaint against the KMC officials for their alleged involvement in forging documents of contract number 33185 NCBW KMC.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to CIAA, the case was filed as they were found to be involved in corruption by preparing forged documents during the technical evaluation process of the contract. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14234', 'image' => '20211216025213_20211210115020_20210624124455_20190205023717_aaaa.jpg', 'article_date' => '2021-12-16 14:51:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14490', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank appoints Dr Bhatta as New Spokesperson', 'sub_title' => '', 'summary' => 'December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. Dr Bhatta is also the Executive Director of the Supervision Department of the central bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, Dev Kumar Dhakal was the spokesperson of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhatta, who holds a doctorate in economics, had taken the responsibility as the spokesperson before this appointment as well.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14233', 'image' => '20211216031743_1639637575.jpg', 'article_date' => '2021-12-16 15:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14487', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Increases to 5.32 Percent', 'sub_title' => '', 'summary' => 'December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago. According to a report made public by the Nepal Rastra Bank (NRB) on Wednesday, food and beverage inflation stood at 4.79 percent whereas non-food and service inflation stood at 5.73 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The price of ghee and oil; transportation; meat and fish; non-alcoholic drinks; tobacco products and pulses and legumes sub-categories rose 29.11 percent, 12.36 percent, 10.91 percent, 10.70 percent 10.30 percent and 10.24 percent respectively on y-o-y basis, says the Current Marcoeconomic and Financial Situation Report published by the NRB. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review month, the Kathmandu Valley, Terai, hill and mountain areas recorded 6.14 percent, 3.95 percent, 7.14 percent and 5.00 percent inflation respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the y-o-y wholesale price inflation stood at 6.68 percent in the review month compared to 9.41 percent a year ago. According to the report, the y-o-y wholesale price of consumption goods, intermediate goods and capital goods increased 7.43 percent, 6.15 percent and 7.26 percent respectively. The wholesale price of construction materials increased 20.10 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, the y-o-y salary and wage rate index increased 5.03 percent in the review month. Such a growth rate was 0.85 percent a year ago. In the review month, salary index and wage rate index increased 9.44 and 3.77 percent, respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The y-o-y consumer price inflation in Nepal in the fourth month of 2020/21 remained 5.32 percent, while inflation in India was 4.91 percent in November 2021.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14232', 'image' => '20211216114757_Macroeconomic-Influencers-19-September.jpg', 'article_date' => '2021-12-16 11:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14486', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Increases by 56.8 Percent', 'sub_title' => '', 'summary' => 'December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22). According to Nepal Rastra Bank (NRB), such a deficit had contracted 12.5 percent in the corresponding period of the previous fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio increased to 12.6 percent in the review period from 10.0 percent in the corresponding period of the previous year, states the Current Marcoeconomic and Financial Situation Report published by the NRB on Wednesday (December 15). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, merchandise exports increased by 104.3 percent to Rs 82.12 billion in the first four months of the current fiscal year compared to an increase of 10.8 percent in the same period of the previous year. Destination-wise, exports to India, China and other countries increased 140.2 percent, 7.3 percent, and 23.5 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export of palm oil, soybean oil, oil cakes, polyester yarn and thread, jute products, among others, increased whereas the export of tea, cardamom, wire, zinc sheet, copper wire rod, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the first four months of FY 2021/22, merchandise imports increased 61.6 percent to Rs 650.29 billion against a decrease of 10.6 percent a year ago. Destination-wise, imports from India, China and other countries increased 46.1 percent, 56.9 percent, and 117.2 percent respectively, states the NRB report. Imports of petroleum products, transport equipment, vehicle and spare parts, crude palm oil, crude soybean oil, silver, among others, increased whereas imports of cement, chemical fertilizer, pulses, molasses sugar, rice/paddy, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Kanchanpur, Krishnanagar, Mechi and Nepalgunj Customs Office decreased whereas exports from all the other customs points increased in the review period. On the import side, imports from all the major customs points increased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14231', 'image' => '20211216113529_Trade.jpg', 'article_date' => '2021-12-16 11:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14485', 'article_category_id' => '1', 'title' => 'Inflow of Remittance Declines by 7.5 Percent: Central Bank', 'sub_title' => '', 'summary' => 'December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank (NRB), the inflow of remittance decreased 7.5 percent to Rs 312.42 billion in the review period against an increase of 11.2 percent in the same period of the previous year. In the US dollar terms, remittance inflows decreased 7.8 percent to 2.63 billion in the review period against an increase of 6.4 percent in the same period of the previous year, shows the Current Marcoeconomic and Financial Situation Report published by NRB on Wednesday, December 15.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report, the number of Nepali migrant workers taking approval for foreign employment increased significantly to 96,382 during the review period. It had decreased 95.7 percent in the same period of the previous year owing to the Covid-19 pandemic.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> The number of Nepali migrant workers (renew entry) taking approval for foreign employment increased 249.1 percent to 59,723 in the review period. It had decreased 78.9 percent in the same period of the previous year, the NRB report further stated. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the net transfer decreased 7.4 percent to Rs 345.65 billion in the review period. Such a transfer had increased 8.9 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14230', 'image' => '20211216112240_Remittance.jpg', 'article_date' => '2021-12-16 11:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14484', 'article_category_id' => '1', 'title' => 'Chitwan International Industrial Expo from December 17 ', 'sub_title' => '', 'summary' => 'December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. The event is being co-organised by the Chitwan Association of Industries and the Confederation of Nepalese Industries. </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 organizers said in a recent press conference that the preparation for the expo has reached the final stage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Chitwan Association of Industries Trilochan Kandel said the expo will feature 200 stalls including 50 from India. The expo aims to promote industrial sector affected by COVID-19. The objective of the expo is to support in revival of the nation’s economy hit by the pandemic instead of securing a profit, the organizers said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14229', 'image' => '20211216081758_Chitwan-International-Industrial-Expo-2021-01.jpg', 'article_date' => '2021-12-16 08:17:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14483', 'article_category_id' => '1', 'title' => 'Country’s Balance of Payments in Deficit of Rs 150 Billion', 'sub_title' => '', 'summary' => 'December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the current macroeconomic and financial situation report of the country unveiled by the Nepal Rastra Bank (NRB) on Wednesday (December 15), the BOP remained at a deficit of 1.26 billion in terms of US dollars in the review period against a surplus of 931.7 million in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report states that the current account remained at a deficit of Rs 223.19 billion in the review period against a surplus of Rs 19.01 billion in the same period of the previous year. In the US Dollar terms, the current account registered a deficit of 1.88 billion in the review period against a surplus of 158.6 million in the same period last year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 39.3 percent to Rs 2.52 billion and net foreign direct investment (FDI) increased 77.0 percent to Rs 6.63 billion, the report further states. In the same period of the previous year, capital transfer and net FDI amounted to Rs 4.15 billion and Rs 3.75 billion respectively.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, gross foreign exchange reserves decreased 11.0 percent to Rs 1244.85 billion in mid-November 2021 from Rs 1399.03 billion in mid-July 2021. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 11.0 percent to Rs 1107.47 billion in mid-November 2021 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 11.0 percent to Rs 137.38 billion in mid-November 2021 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 26.1 percent in mid-November 2021. </span></span></p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14228', 'image' => '20211215094940_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-15 21:48:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14482', 'article_category_id' => '236', 'title' => 'New Showroom of Renault in Lahan', 'sub_title' => '', 'summary' => 'December 15: A new showroom of Renault has come into operation in Lahan from Monday. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 15: A new showroom of Renault has come into operation in Lahan from Monday. Renault opened the new showroom with the aim of expanding its branches all over Nepal. Renault collaborated with Bhagya Mahalaxmi Automobiles to open the new showroom. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhir Kumar Shrestha, the General Manager of the company and Bipul Bhattarai, the Head of Sales Network, inaugurated the new showroom amid a function. According to a statement issued by the company, the inauguration ceremony was attended chief guest Ashok Lal Amatya from District Chamber of Commerce and Industry, and Ram Shah<strong>, </strong>the director of the Bhagya Laxmi Automobiles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We are committed to provide high quality services to our customers. In addition, we are grateful for the trust that Nepali consumers have put in us,” the statement quoted General Manager Adhir Kumar Shrestha as saying. The head of Sales Network, Bipul Bhattarai reportedly said that the newly opened showroom will provide all necessary services to the customers outside the Kathmandu Valley.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Renault's most popular models Kwid, Triber, Kiger and Duster are available in the new showroom. Customers can also get spare parts, accessories and other services at the showroom.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14227', 'image' => 'Renault.jfif', 'article_date' => '2021-12-15 16:39:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14481', 'article_category_id' => '1', 'title' => 'Commercial Farming of Turmeric Flourishing in Udayapur ', 'sub_title' => '', 'summary' => 'December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. </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"">Farmers of Siddhipur had started commercial farming of turmeric 10 years ago. Until two years ago, the farmers of Siddhipur used to produce turmeric worth Rs 10 million annually. But the production has increased since last year. Turmeric worth Rs 15 million was produced last year, according to the state-owned national news agency RSS.</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"">Mayor of the Chaudandigadhi Municipality, Khagendra Kumar Rai, said that Siddhipur area has been declared as top turmeric pocket area of the district. </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"">Around 40 farmers of Siddhipur are currently involved in commercial farming of turmeric, RSS further reported. Chief of the District Agriculture Knowledge Centre, Udayapur, Mahesh Chaudhary, informed that commercial farming of turmeric has increased in the area. Commercial turmeric farming is being done in around 137 hectares of land in the district and around 800 metric tonnes of turmeric is produced here annually, he informed. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, Biratnagar-based Golchha and Dugad Mills buy most of the turmeric produced in the district. </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"">Moreover, Saune Khanbu of Triyuga Municipality, Mainamaini and Babala of Belaka, Risku of Katari Municipality and Sirise, Hardeni, Bhalayadanda, and Danuwarbesi areas are also the pocket areas of turmeric, according to the Centre. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14226', 'image' => '20211215043215_85427212.jpg', 'article_date' => '2021-12-15 16:31:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14480', 'article_category_id' => '1', 'title' => 'Bangladesh Willing to Buy Surplus Energy from Nepal', 'sub_title' => '', 'summary' => 'December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal. Minister of State for Power, Energy, and Mineral Resources of Bangladesh, Nasrul Hamid, made such remarks during a meeting with a visiting delegation of the Confederation of Nepalese Industries (CNI) in Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The electricity generated in Nepal is being wasted without being consumed," he said, adding, "We can buy that electricity."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said Bangladesh has also done its homework to sign a long-term power purchase agreement (PPA) with Nepal's private sector. Due to a lack of market management in Nepal, 500 MW of electricity was wasted during the last monsoon. It has caused a loss of Rs 5 billion. Electricity generated in Nepal is being wasted due to the lack of adequate transmission lines and internal and external markets.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said that Bangladesh is ready to upgrade infrastructure of the transmission line for the import of electricity from Nepal. Bangladesh will initiate the construction of a dedicated line, assured Hamid. He also said that Bangladesh will import 3,500 MW of electricity generated in Nepal by 2026.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Minister of State Hamid also expressed his commitment to discuss the issue with Nepal's private sector. "I will visit Nepal in March to finalize this issue," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The prospect of trilateral electricity trade has opened since India issued the Interstate Energy Trade Procedure in March 2021.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> This procedure has ended the dilemma regarding regulation and legal mechanisms in the international electricity trade. Although India is a potential market for Nepal's electricity, the private sector has become optimistic about inter-country electricity trade with Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bangladesh needs 24,000 MW of renewable energy by 2040 and plans to shut down coal-powered energy in the next four years. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the meeting, the President of the Confederation of Nepalese Industries Bishnu Kumar Agrawal urged the Minister of State Hamid to purchase electricity through PPA directly with the private sector of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ashish Garg, chairman of the confederation's infrastructure committee and vice-chairman of the Independent Power Producers' Association, gave a presentation on the state of power generation and power consumption in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Former president of the confederation Hari Bhakta Sharma, vice presidents Nirvana Chaudhary, Krishna Prasad Adhikari, and Virendra Raj Pandey and members of the National Council Laxmi Prasad Subedi, Bhim Prasad Ghimire, Dwiraj Sharma, and outgoing president of Chitwan Industries Association Raju Poudel were present at the meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Acting Ambassador of Nepal in Dhaka Kumar Rai and Director General of the Confederation Yadav Prasad Poudel, and Director Sabin Mishra were also present on the occasion.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14225', 'image' => '20211215042025_1639490269.cni_dhaka.jpg', 'article_date' => '2021-12-15 16:19:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14479', 'article_category_id' => '1', 'title' => 'Government Urged to Implement Provision Obliging Employers to Bear Costs of Foreign Employment ', 'sub_title' => '', 'summary' => 'December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Making public a study report on the evaluation of manpower company services amidst a programme on Tuesday, GEFONT recommended the government to fully implement the provision that the employers should provide enrollment fee and expenses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study has found that the aspiring migrant workers are forced to pay enrollment fee of Rs 100,000 in an average. Around 98 percent of the respondents out of a total of 1,593 surveyed during the study said they paid high enrollment fee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Less than two percent of the respondents said that they did not have to pay any enrollment fee and costs in course of foreign employment. The prevailing provision obliges the employers to bear all the expenses involved in course of the enrollment of workers in foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the bilateral labour pacts signed by the government with the labour destination countries, including Jordan, Malaysia, United Arab Emirates (UAE) and Mauritius, have provision obliging employers to bear all costs involved in foreign employment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14224', 'image' => '20211215023334_20200315123851_1111.jpg', 'article_date' => '2021-12-15 14:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14478', 'article_category_id' => '1', 'title' => 'Chances of MCC Ratification from Parliament get Slim', 'sub_title' => '', 'summary' => 'December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. The parliament session which resumed from Tuesday (December 14) was obstructed again by the main opposition party CPN UML. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the UML parliamentary party held before the start of the parliament session could not reach a conclusion about the MCC. The meeting decided to make public the party’s official stance only after the MCC grant agreement is presented in the parliament, according to Bishal Bhattarai, a UML leader.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the CPN-Maoist parliamentary party also could not take any concrete decision. Instead, Pushpa Kamal Dahal, chairman of the party, briefed about recent political issues. According to Maoist lawmaker Rekha Sharma, Chairman Dahal also presented his opinions on the US-funded project. Dahal said MCC would not be tabled in the House without reaching consensus among the parties. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">She further said that the Maoist party is committed to its previous position on MCC. “We won’t support it until and unless the provisions against national interests are amended,” reiterated Dahal. While the US is pushing for MCC's early approval, the issue has not been discussed by the Nepali Congress which is preoccupied with the party’s general convention.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The MCC was expected to be ratified on Tuesday itself since the parliament session was called on the same day the board meeting of MCC was scheduled in Washington DC. During his recent visit, Donald Lu, US Assistant Secretary of State, had suggested to Prime Minister Sher Bahadur Deuba to take a decision on MCC before the MCC board meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba has been reiterating that the MCC should be approved by the parliament. He has assured MCC Vice President Fatima Sumar, who visited Nepal in September, Alexia Latortu, MCC's Deputy Chief Executive Officer in Glasgow, and Lu that the agreement would be ratified. However, Deuba has not been able to make any headway due to lack of agreement among the ruling coalition. The Nepali Congress and the Maoists, who were in power when the MCC was signed, are again the key partners of the current government. </span></span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Parliament obstruction continues</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first meeting of the 10th session of the House of Representatives held on December 14, Speaker Agni Prasad Sapkota urged the lawmakers not to obstruct the house session but the lawmakers of the main opposition party UML continued their protest. Despite the obstruction, six ordinances were tabled in the lower house meeting.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14223', 'image' => '20211215012519_MCC.jpg', 'article_date' => '2021-12-15 13:24:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14477', 'article_category_id' => '1', 'title' => 'Use Locally Made Handicraft Products: Vice President Pun', 'sub_title' => '', 'summary' => 'December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.</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"">Speaking at a programme organized to mark the 50th anniversary of the Federation of Handicraft Associations of Nepal and 10th Handicraft Day on Tuesday (December 14), Vice-President Pun said that the government should give high priority to the handicraft industry.</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"">"Government should give highest priority to handicraft sector which has helped maintain the identity of Nepal in the international arena and has also supported in creating job opportunities in the country," Pun reiterated. </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 vice president also appealed to all the government agencies to use domestic handicraft products. He added that the export of handicraft has been playing an important role in reducing trade deficit. </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"">Similarly, President of the federation Surendra Bhai Shakya said that they require cooperation and collaboration from all three tiers of governments to revitalize the handicraft sector that has been hard hit by the outbreak of COVID-19. He shared that various events would be held during the golden jubilee year of the federation including seminars and conferences to promote domestic handicraft products. </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"">Likewise, the federation's vice-chair Rabindra Shakya said that a policy related to handicraft should be formulated for the development and promotion of handicraft products. On the occasion, the federation felicitated its founding president Sagar Shumsher Rana, as well as founding member Motilal Shilpakar and best exporter of handicraft products Maheshwor Shrestha, Sunita Sherpa and Naresh Lal Shrestha among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14222', 'image' => '20211215112441_20170913113102_sect.jpg', 'article_date' => '2021-12-15 11:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14476', 'article_category_id' => '236', 'title' => 'Paramount Motors Launch MG Hector in Nepal', 'sub_title' => 'Pricing Starts at Rs 5.99 Million', 'summary' => 'December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector. The new model of MG Motors was launched recently at the company’s showroom in Naxal showroom amid a press conference. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Following the launch, Paramount Motors unveiled the price of the new model and announced the commencement of vehicle delivery to the customers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the company, Hector MT and CVT have been competitively priced at Rs 5.99 million and Rs 6.49 million respectively. The company claimed that the two variants are in high demand in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issuing a statement on December 9, Paramount Motors said that the new Hector has been designed by taking into consideration the safety and functionality. The new Hector, made in India variant is said to suit the roads and traffic of Nepal and will be available for purchase through the company’s dealerships across the nation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under its corporate social responsibility, Paramount Motors handed over Rs 1 million to help Zonta Club of Kathmandu organize awareness campaign on issues related to domestic violence, work/public harassment and child marriage. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Hectorr.jpg" style="height:214px; width:800px" /></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14221', 'image' => '20211214070043_Hector.jpg', 'article_date' => '2021-12-14 18:58:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, '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' => '14489', 'article_category_id' => '1', 'title' => 'Global IME Bank to Borrow $25 million from CDC Group', 'sub_title' => '', 'summary' => 'December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the UK.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the UK. An agreement to this effect was signed on Wednesday, December 15. As per the agreement, the fund needs to be invested in priority sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, CEO of Global IME Bank, and Rabi Rayamajhi, country representative of CDC Group, signed the agreement amid a function. The bank stated that the borrowed amount will help increase the credit flow capacity during the time of liquidity crisis as well as mobilize resources for investment in priority sector specified by the government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hydropower, renewable energy, infrastructure construction, manufacture, agriculture, and tourism sectors fall under Nepal’s priority sector lending. The bank has said that the funding will help with post-COVID recovery and to create jobs that will facilitate sustained inclusive growth across all segments of society in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Srini Nagarajan, the managing director as well as the head of Asia at CDC Group, said that Nepal has always been a high priority country for CDC Group. Nagarajan also said that the CDC Group is committed to continue supporting the economic recovery and sustainable growth of Nepal. Nagarajan said, “Amidst slowdown in global capital flow due to the pandemic, this partnership signifies the vast opportunities in Nepal”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, the CEO of Global IME Bank. expressed his excitement over the partnership and commented that the sanctioned amount would enhance and bolster the lending capacity to businesses across the key economic sectors that fall under priority sector lending.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nicola Politt, the British Ambassador to Nepal, said that the UK has been supporting Nepal against the impacts of climate change and on post-Covid-19 recovery. She also added that this investment will increase access of domestic businesses to finance.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14235', 'image' => '20211216031152_1639571741.jpg', 'article_date' => '2021-12-16 15:11:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14488', 'article_category_id' => '1', 'title' => 'CIAA Files Corruption Case against 5 Officials of KMC', 'sub_title' => '', 'summary' => 'December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Other officials charged by the CIAA include chief of KMC’s procurement unit Bakhat Bahadur Saud, Deputy Director Suman Adhikari, Deputy Director Bir Bahadur Khadka and engineer Umesh Kumar Budhathoki. They have been accused of corruption and misappropriating public property. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the charge-sheet, CIAA has stated that the accused officials selected a contractor for the construction of a building in KMC Ward-12, Teku by preparing a false evaluation report of the applications received through electronic bidding process. The CIAA started investigation after receiving a complaint against the KMC officials for their alleged involvement in forging documents of contract number 33185 NCBW KMC.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to CIAA, the case was filed as they were found to be involved in corruption by preparing forged documents during the technical evaluation process of the contract. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14234', 'image' => '20211216025213_20211210115020_20210624124455_20190205023717_aaaa.jpg', 'article_date' => '2021-12-16 14:51:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14490', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank appoints Dr Bhatta as New Spokesperson', 'sub_title' => '', 'summary' => 'December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. Dr Bhatta is also the Executive Director of the Supervision Department of the central bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, Dev Kumar Dhakal was the spokesperson of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhatta, who holds a doctorate in economics, had taken the responsibility as the spokesperson before this appointment as well.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14233', 'image' => '20211216031743_1639637575.jpg', 'article_date' => '2021-12-16 15:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14487', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Increases to 5.32 Percent', 'sub_title' => '', 'summary' => 'December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago. According to a report made public by the Nepal Rastra Bank (NRB) on Wednesday, food and beverage inflation stood at 4.79 percent whereas non-food and service inflation stood at 5.73 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The price of ghee and oil; transportation; meat and fish; non-alcoholic drinks; tobacco products and pulses and legumes sub-categories rose 29.11 percent, 12.36 percent, 10.91 percent, 10.70 percent 10.30 percent and 10.24 percent respectively on y-o-y basis, says the Current Marcoeconomic and Financial Situation Report published by the NRB. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review month, the Kathmandu Valley, Terai, hill and mountain areas recorded 6.14 percent, 3.95 percent, 7.14 percent and 5.00 percent inflation respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the y-o-y wholesale price inflation stood at 6.68 percent in the review month compared to 9.41 percent a year ago. According to the report, the y-o-y wholesale price of consumption goods, intermediate goods and capital goods increased 7.43 percent, 6.15 percent and 7.26 percent respectively. The wholesale price of construction materials increased 20.10 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, the y-o-y salary and wage rate index increased 5.03 percent in the review month. Such a growth rate was 0.85 percent a year ago. In the review month, salary index and wage rate index increased 9.44 and 3.77 percent, respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The y-o-y consumer price inflation in Nepal in the fourth month of 2020/21 remained 5.32 percent, while inflation in India was 4.91 percent in November 2021.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14232', 'image' => '20211216114757_Macroeconomic-Influencers-19-September.jpg', 'article_date' => '2021-12-16 11:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14486', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Increases by 56.8 Percent', 'sub_title' => '', 'summary' => 'December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22). According to Nepal Rastra Bank (NRB), such a deficit had contracted 12.5 percent in the corresponding period of the previous fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio increased to 12.6 percent in the review period from 10.0 percent in the corresponding period of the previous year, states the Current Marcoeconomic and Financial Situation Report published by the NRB on Wednesday (December 15). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, merchandise exports increased by 104.3 percent to Rs 82.12 billion in the first four months of the current fiscal year compared to an increase of 10.8 percent in the same period of the previous year. Destination-wise, exports to India, China and other countries increased 140.2 percent, 7.3 percent, and 23.5 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export of palm oil, soybean oil, oil cakes, polyester yarn and thread, jute products, among others, increased whereas the export of tea, cardamom, wire, zinc sheet, copper wire rod, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the first four months of FY 2021/22, merchandise imports increased 61.6 percent to Rs 650.29 billion against a decrease of 10.6 percent a year ago. Destination-wise, imports from India, China and other countries increased 46.1 percent, 56.9 percent, and 117.2 percent respectively, states the NRB report. Imports of petroleum products, transport equipment, vehicle and spare parts, crude palm oil, crude soybean oil, silver, among others, increased whereas imports of cement, chemical fertilizer, pulses, molasses sugar, rice/paddy, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Kanchanpur, Krishnanagar, Mechi and Nepalgunj Customs Office decreased whereas exports from all the other customs points increased in the review period. On the import side, imports from all the major customs points increased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14231', 'image' => '20211216113529_Trade.jpg', 'article_date' => '2021-12-16 11:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14485', 'article_category_id' => '1', 'title' => 'Inflow of Remittance Declines by 7.5 Percent: Central Bank', 'sub_title' => '', 'summary' => 'December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank (NRB), the inflow of remittance decreased 7.5 percent to Rs 312.42 billion in the review period against an increase of 11.2 percent in the same period of the previous year. In the US dollar terms, remittance inflows decreased 7.8 percent to 2.63 billion in the review period against an increase of 6.4 percent in the same period of the previous year, shows the Current Marcoeconomic and Financial Situation Report published by NRB on Wednesday, December 15.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report, the number of Nepali migrant workers taking approval for foreign employment increased significantly to 96,382 during the review period. It had decreased 95.7 percent in the same period of the previous year owing to the Covid-19 pandemic.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> The number of Nepali migrant workers (renew entry) taking approval for foreign employment increased 249.1 percent to 59,723 in the review period. It had decreased 78.9 percent in the same period of the previous year, the NRB report further stated. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the net transfer decreased 7.4 percent to Rs 345.65 billion in the review period. Such a transfer had increased 8.9 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14230', 'image' => '20211216112240_Remittance.jpg', 'article_date' => '2021-12-16 11:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14484', 'article_category_id' => '1', 'title' => 'Chitwan International Industrial Expo from December 17 ', 'sub_title' => '', 'summary' => 'December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. The event is being co-organised by the Chitwan Association of Industries and the Confederation of Nepalese Industries. </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 organizers said in a recent press conference that the preparation for the expo has reached the final stage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Chitwan Association of Industries Trilochan Kandel said the expo will feature 200 stalls including 50 from India. The expo aims to promote industrial sector affected by COVID-19. The objective of the expo is to support in revival of the nation’s economy hit by the pandemic instead of securing a profit, the organizers said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14229', 'image' => '20211216081758_Chitwan-International-Industrial-Expo-2021-01.jpg', 'article_date' => '2021-12-16 08:17:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14483', 'article_category_id' => '1', 'title' => 'Country’s Balance of Payments in Deficit of Rs 150 Billion', 'sub_title' => '', 'summary' => 'December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the current macroeconomic and financial situation report of the country unveiled by the Nepal Rastra Bank (NRB) on Wednesday (December 15), the BOP remained at a deficit of 1.26 billion in terms of US dollars in the review period against a surplus of 931.7 million in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report states that the current account remained at a deficit of Rs 223.19 billion in the review period against a surplus of Rs 19.01 billion in the same period of the previous year. In the US Dollar terms, the current account registered a deficit of 1.88 billion in the review period against a surplus of 158.6 million in the same period last year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 39.3 percent to Rs 2.52 billion and net foreign direct investment (FDI) increased 77.0 percent to Rs 6.63 billion, the report further states. In the same period of the previous year, capital transfer and net FDI amounted to Rs 4.15 billion and Rs 3.75 billion respectively.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, gross foreign exchange reserves decreased 11.0 percent to Rs 1244.85 billion in mid-November 2021 from Rs 1399.03 billion in mid-July 2021. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 11.0 percent to Rs 1107.47 billion in mid-November 2021 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 11.0 percent to Rs 137.38 billion in mid-November 2021 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 26.1 percent in mid-November 2021. </span></span></p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14228', 'image' => '20211215094940_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-15 21:48:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14482', 'article_category_id' => '236', 'title' => 'New Showroom of Renault in Lahan', 'sub_title' => '', 'summary' => 'December 15: A new showroom of Renault has come into operation in Lahan from Monday. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 15: A new showroom of Renault has come into operation in Lahan from Monday. Renault opened the new showroom with the aim of expanding its branches all over Nepal. Renault collaborated with Bhagya Mahalaxmi Automobiles to open the new showroom. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhir Kumar Shrestha, the General Manager of the company and Bipul Bhattarai, the Head of Sales Network, inaugurated the new showroom amid a function. According to a statement issued by the company, the inauguration ceremony was attended chief guest Ashok Lal Amatya from District Chamber of Commerce and Industry, and Ram Shah<strong>, </strong>the director of the Bhagya Laxmi Automobiles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We are committed to provide high quality services to our customers. In addition, we are grateful for the trust that Nepali consumers have put in us,” the statement quoted General Manager Adhir Kumar Shrestha as saying. The head of Sales Network, Bipul Bhattarai reportedly said that the newly opened showroom will provide all necessary services to the customers outside the Kathmandu Valley.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Renault's most popular models Kwid, Triber, Kiger and Duster are available in the new showroom. Customers can also get spare parts, accessories and other services at the showroom.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14227', 'image' => 'Renault.jfif', 'article_date' => '2021-12-15 16:39:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14481', 'article_category_id' => '1', 'title' => 'Commercial Farming of Turmeric Flourishing in Udayapur ', 'sub_title' => '', 'summary' => 'December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. </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"">Farmers of Siddhipur had started commercial farming of turmeric 10 years ago. Until two years ago, the farmers of Siddhipur used to produce turmeric worth Rs 10 million annually. But the production has increased since last year. Turmeric worth Rs 15 million was produced last year, according to the state-owned national news agency RSS.</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"">Mayor of the Chaudandigadhi Municipality, Khagendra Kumar Rai, said that Siddhipur area has been declared as top turmeric pocket area of the district. </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"">Around 40 farmers of Siddhipur are currently involved in commercial farming of turmeric, RSS further reported. Chief of the District Agriculture Knowledge Centre, Udayapur, Mahesh Chaudhary, informed that commercial farming of turmeric has increased in the area. Commercial turmeric farming is being done in around 137 hectares of land in the district and around 800 metric tonnes of turmeric is produced here annually, he informed. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, Biratnagar-based Golchha and Dugad Mills buy most of the turmeric produced in the district. </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"">Moreover, Saune Khanbu of Triyuga Municipality, Mainamaini and Babala of Belaka, Risku of Katari Municipality and Sirise, Hardeni, Bhalayadanda, and Danuwarbesi areas are also the pocket areas of turmeric, according to the Centre. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14226', 'image' => '20211215043215_85427212.jpg', 'article_date' => '2021-12-15 16:31:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14480', 'article_category_id' => '1', 'title' => 'Bangladesh Willing to Buy Surplus Energy from Nepal', 'sub_title' => '', 'summary' => 'December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal. Minister of State for Power, Energy, and Mineral Resources of Bangladesh, Nasrul Hamid, made such remarks during a meeting with a visiting delegation of the Confederation of Nepalese Industries (CNI) in Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The electricity generated in Nepal is being wasted without being consumed," he said, adding, "We can buy that electricity."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said Bangladesh has also done its homework to sign a long-term power purchase agreement (PPA) with Nepal's private sector. Due to a lack of market management in Nepal, 500 MW of electricity was wasted during the last monsoon. It has caused a loss of Rs 5 billion. Electricity generated in Nepal is being wasted due to the lack of adequate transmission lines and internal and external markets.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said that Bangladesh is ready to upgrade infrastructure of the transmission line for the import of electricity from Nepal. Bangladesh will initiate the construction of a dedicated line, assured Hamid. He also said that Bangladesh will import 3,500 MW of electricity generated in Nepal by 2026.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Minister of State Hamid also expressed his commitment to discuss the issue with Nepal's private sector. "I will visit Nepal in March to finalize this issue," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The prospect of trilateral electricity trade has opened since India issued the Interstate Energy Trade Procedure in March 2021.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> This procedure has ended the dilemma regarding regulation and legal mechanisms in the international electricity trade. Although India is a potential market for Nepal's electricity, the private sector has become optimistic about inter-country electricity trade with Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bangladesh needs 24,000 MW of renewable energy by 2040 and plans to shut down coal-powered energy in the next four years. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the meeting, the President of the Confederation of Nepalese Industries Bishnu Kumar Agrawal urged the Minister of State Hamid to purchase electricity through PPA directly with the private sector of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ashish Garg, chairman of the confederation's infrastructure committee and vice-chairman of the Independent Power Producers' Association, gave a presentation on the state of power generation and power consumption in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Former president of the confederation Hari Bhakta Sharma, vice presidents Nirvana Chaudhary, Krishna Prasad Adhikari, and Virendra Raj Pandey and members of the National Council Laxmi Prasad Subedi, Bhim Prasad Ghimire, Dwiraj Sharma, and outgoing president of Chitwan Industries Association Raju Poudel were present at the meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Acting Ambassador of Nepal in Dhaka Kumar Rai and Director General of the Confederation Yadav Prasad Poudel, and Director Sabin Mishra were also present on the occasion.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14225', 'image' => '20211215042025_1639490269.cni_dhaka.jpg', 'article_date' => '2021-12-15 16:19:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14479', 'article_category_id' => '1', 'title' => 'Government Urged to Implement Provision Obliging Employers to Bear Costs of Foreign Employment ', 'sub_title' => '', 'summary' => 'December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Making public a study report on the evaluation of manpower company services amidst a programme on Tuesday, GEFONT recommended the government to fully implement the provision that the employers should provide enrollment fee and expenses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study has found that the aspiring migrant workers are forced to pay enrollment fee of Rs 100,000 in an average. Around 98 percent of the respondents out of a total of 1,593 surveyed during the study said they paid high enrollment fee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Less than two percent of the respondents said that they did not have to pay any enrollment fee and costs in course of foreign employment. The prevailing provision obliges the employers to bear all the expenses involved in course of the enrollment of workers in foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the bilateral labour pacts signed by the government with the labour destination countries, including Jordan, Malaysia, United Arab Emirates (UAE) and Mauritius, have provision obliging employers to bear all costs involved in foreign employment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14224', 'image' => '20211215023334_20200315123851_1111.jpg', 'article_date' => '2021-12-15 14:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14478', 'article_category_id' => '1', 'title' => 'Chances of MCC Ratification from Parliament get Slim', 'sub_title' => '', 'summary' => 'December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. The parliament session which resumed from Tuesday (December 14) was obstructed again by the main opposition party CPN UML. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the UML parliamentary party held before the start of the parliament session could not reach a conclusion about the MCC. The meeting decided to make public the party’s official stance only after the MCC grant agreement is presented in the parliament, according to Bishal Bhattarai, a UML leader.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the CPN-Maoist parliamentary party also could not take any concrete decision. Instead, Pushpa Kamal Dahal, chairman of the party, briefed about recent political issues. According to Maoist lawmaker Rekha Sharma, Chairman Dahal also presented his opinions on the US-funded project. Dahal said MCC would not be tabled in the House without reaching consensus among the parties. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">She further said that the Maoist party is committed to its previous position on MCC. “We won’t support it until and unless the provisions against national interests are amended,” reiterated Dahal. While the US is pushing for MCC's early approval, the issue has not been discussed by the Nepali Congress which is preoccupied with the party’s general convention.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The MCC was expected to be ratified on Tuesday itself since the parliament session was called on the same day the board meeting of MCC was scheduled in Washington DC. During his recent visit, Donald Lu, US Assistant Secretary of State, had suggested to Prime Minister Sher Bahadur Deuba to take a decision on MCC before the MCC board meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba has been reiterating that the MCC should be approved by the parliament. He has assured MCC Vice President Fatima Sumar, who visited Nepal in September, Alexia Latortu, MCC's Deputy Chief Executive Officer in Glasgow, and Lu that the agreement would be ratified. However, Deuba has not been able to make any headway due to lack of agreement among the ruling coalition. The Nepali Congress and the Maoists, who were in power when the MCC was signed, are again the key partners of the current government. </span></span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Parliament obstruction continues</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first meeting of the 10th session of the House of Representatives held on December 14, Speaker Agni Prasad Sapkota urged the lawmakers not to obstruct the house session but the lawmakers of the main opposition party UML continued their protest. Despite the obstruction, six ordinances were tabled in the lower house meeting.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14223', 'image' => '20211215012519_MCC.jpg', 'article_date' => '2021-12-15 13:24:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14477', 'article_category_id' => '1', 'title' => 'Use Locally Made Handicraft Products: Vice President Pun', 'sub_title' => '', 'summary' => 'December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.</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"">Speaking at a programme organized to mark the 50th anniversary of the Federation of Handicraft Associations of Nepal and 10th Handicraft Day on Tuesday (December 14), Vice-President Pun said that the government should give high priority to the handicraft industry.</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"">"Government should give highest priority to handicraft sector which has helped maintain the identity of Nepal in the international arena and has also supported in creating job opportunities in the country," Pun reiterated. </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 vice president also appealed to all the government agencies to use domestic handicraft products. He added that the export of handicraft has been playing an important role in reducing trade deficit. </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"">Similarly, President of the federation Surendra Bhai Shakya said that they require cooperation and collaboration from all three tiers of governments to revitalize the handicraft sector that has been hard hit by the outbreak of COVID-19. He shared that various events would be held during the golden jubilee year of the federation including seminars and conferences to promote domestic handicraft products. </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"">Likewise, the federation's vice-chair Rabindra Shakya said that a policy related to handicraft should be formulated for the development and promotion of handicraft products. On the occasion, the federation felicitated its founding president Sagar Shumsher Rana, as well as founding member Motilal Shilpakar and best exporter of handicraft products Maheshwor Shrestha, Sunita Sherpa and Naresh Lal Shrestha among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14222', 'image' => '20211215112441_20170913113102_sect.jpg', 'article_date' => '2021-12-15 11:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14476', 'article_category_id' => '236', 'title' => 'Paramount Motors Launch MG Hector in Nepal', 'sub_title' => 'Pricing Starts at Rs 5.99 Million', 'summary' => 'December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector. The new model of MG Motors was launched recently at the company’s showroom in Naxal showroom amid a press conference. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Following the launch, Paramount Motors unveiled the price of the new model and announced the commencement of vehicle delivery to the customers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the company, Hector MT and CVT have been competitively priced at Rs 5.99 million and Rs 6.49 million respectively. The company claimed that the two variants are in high demand in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issuing a statement on December 9, Paramount Motors said that the new Hector has been designed by taking into consideration the safety and functionality. The new Hector, made in India variant is said to suit the roads and traffic of Nepal and will be available for purchase through the company’s dealerships across the nation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under its corporate social responsibility, Paramount Motors handed over Rs 1 million to help Zonta Club of Kathmandu organize awareness campaign on issues related to domestic violence, work/public harassment and child marriage. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Hectorr.jpg" style="height:214px; width:800px" /></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14221', 'image' => '20211214070043_Hector.jpg', 'article_date' => '2021-12-14 18:58:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, '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' => '14489', 'article_category_id' => '1', 'title' => 'Global IME Bank to Borrow $25 million from CDC Group', 'sub_title' => '', 'summary' => 'December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the UK.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Global IME Bank is all set to borrow $25 million (almost Rs 3 billion) from CDC Group, a development finance institution based in the UK. An agreement to this effect was signed on Wednesday, December 15. As per the agreement, the fund needs to be invested in priority sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, CEO of Global IME Bank, and Rabi Rayamajhi, country representative of CDC Group, signed the agreement amid a function. The bank stated that the borrowed amount will help increase the credit flow capacity during the time of liquidity crisis as well as mobilize resources for investment in priority sector specified by the government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hydropower, renewable energy, infrastructure construction, manufacture, agriculture, and tourism sectors fall under Nepal’s priority sector lending. The bank has said that the funding will help with post-COVID recovery and to create jobs that will facilitate sustained inclusive growth across all segments of society in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Srini Nagarajan, the managing director as well as the head of Asia at CDC Group, said that Nepal has always been a high priority country for CDC Group. Nagarajan also said that the CDC Group is committed to continue supporting the economic recovery and sustainable growth of Nepal. Nagarajan said, “Amidst slowdown in global capital flow due to the pandemic, this partnership signifies the vast opportunities in Nepal”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ratna Raj Bajracharya, the CEO of Global IME Bank. expressed his excitement over the partnership and commented that the sanctioned amount would enhance and bolster the lending capacity to businesses across the key economic sectors that fall under priority sector lending.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nicola Politt, the British Ambassador to Nepal, said that the UK has been supporting Nepal against the impacts of climate change and on post-Covid-19 recovery. She also added that this investment will increase access of domestic businesses to finance.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14235', 'image' => '20211216031152_1639571741.jpg', 'article_date' => '2021-12-16 15:11:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14488', 'article_category_id' => '1', 'title' => 'CIAA Files Corruption Case against 5 Officials of KMC', 'sub_title' => '', 'summary' => 'December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case at the Special Court against five officials of the Kathmandu Metropolitan City (KMC) including KMC Director Bhairav Bahadur Bogati. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Other officials charged by the CIAA include chief of KMC’s procurement unit Bakhat Bahadur Saud, Deputy Director Suman Adhikari, Deputy Director Bir Bahadur Khadka and engineer Umesh Kumar Budhathoki. They have been accused of corruption and misappropriating public property. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the charge-sheet, CIAA has stated that the accused officials selected a contractor for the construction of a building in KMC Ward-12, Teku by preparing a false evaluation report of the applications received through electronic bidding process. The CIAA started investigation after receiving a complaint against the KMC officials for their alleged involvement in forging documents of contract number 33185 NCBW KMC.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to CIAA, the case was filed as they were found to be involved in corruption by preparing forged documents during the technical evaluation process of the contract. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14234', 'image' => '20211216025213_20211210115020_20210624124455_20190205023717_aaaa.jpg', 'article_date' => '2021-12-16 14:51:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14490', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank appoints Dr Bhatta as New Spokesperson', 'sub_title' => '', 'summary' => 'December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 16: Nepal Rastra Bank has appointed Dr Gunakar Bhatta as its new spokesperson. Dr Bhatta is also the Executive Director of the Supervision Department of the central bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, Dev Kumar Dhakal was the spokesperson of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhatta, who holds a doctorate in economics, had taken the responsibility as the spokesperson before this appointment as well.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14233', 'image' => '20211216031743_1639637575.jpg', 'article_date' => '2021-12-16 15:16:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14487', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Increases to 5.32 Percent', 'sub_title' => '', 'summary' => 'December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: The year-on-year consumer price inflation stood at 5.32 percent in the fourth month of the current fiscal year (FY 2021/22) compared to 4.05 percent a year ago. According to a report made public by the Nepal Rastra Bank (NRB) on Wednesday, food and beverage inflation stood at 4.79 percent whereas non-food and service inflation stood at 5.73 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The price of ghee and oil; transportation; meat and fish; non-alcoholic drinks; tobacco products and pulses and legumes sub-categories rose 29.11 percent, 12.36 percent, 10.91 percent, 10.70 percent 10.30 percent and 10.24 percent respectively on y-o-y basis, says the Current Marcoeconomic and Financial Situation Report published by the NRB. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review month, the Kathmandu Valley, Terai, hill and mountain areas recorded 6.14 percent, 3.95 percent, 7.14 percent and 5.00 percent inflation respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the y-o-y wholesale price inflation stood at 6.68 percent in the review month compared to 9.41 percent a year ago. According to the report, the y-o-y wholesale price of consumption goods, intermediate goods and capital goods increased 7.43 percent, 6.15 percent and 7.26 percent respectively. The wholesale price of construction materials increased 20.10 percent in the review month. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, the y-o-y salary and wage rate index increased 5.03 percent in the review month. Such a growth rate was 0.85 percent a year ago. In the review month, salary index and wage rate index increased 9.44 and 3.77 percent, respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The y-o-y consumer price inflation in Nepal in the fourth month of 2020/21 remained 5.32 percent, while inflation in India was 4.91 percent in November 2021.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14232', 'image' => '20211216114757_Macroeconomic-Influencers-19-September.jpg', 'article_date' => '2021-12-16 11:47:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14486', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Increases by 56.8 Percent', 'sub_title' => '', 'summary' => 'December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 16: Nepal’s total trade deficit increased by 56.8 percent to Rs 568.17 billion during the first four months of the current fiscal year (FY 2021/22). According to Nepal Rastra Bank (NRB), such a deficit had contracted 12.5 percent in the corresponding period of the previous fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export-import ratio increased to 12.6 percent in the review period from 10.0 percent in the corresponding period of the previous year, states the Current Marcoeconomic and Financial Situation Report published by the NRB on Wednesday (December 15). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, merchandise exports increased by 104.3 percent to Rs 82.12 billion in the first four months of the current fiscal year compared to an increase of 10.8 percent in the same period of the previous year. Destination-wise, exports to India, China and other countries increased 140.2 percent, 7.3 percent, and 23.5 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The export of palm oil, soybean oil, oil cakes, polyester yarn and thread, jute products, among others, increased whereas the export of tea, cardamom, wire, zinc sheet, copper wire rod, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the first four months of FY 2021/22, merchandise imports increased 61.6 percent to Rs 650.29 billion against a decrease of 10.6 percent a year ago. Destination-wise, imports from India, China and other countries increased 46.1 percent, 56.9 percent, and 117.2 percent respectively, states the NRB report. Imports of petroleum products, transport equipment, vehicle and spare parts, crude palm oil, crude soybean oil, silver, among others, increased whereas imports of cement, chemical fertilizer, pulses, molasses sugar, rice/paddy, among others, decreased in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Kanchanpur, Krishnanagar, Mechi and Nepalgunj Customs Office decreased whereas exports from all the other customs points increased in the review period. On the import side, imports from all the major customs points increased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14231', 'image' => '20211216113529_Trade.jpg', 'article_date' => '2021-12-16 11:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14485', 'article_category_id' => '1', 'title' => 'Inflow of Remittance Declines by 7.5 Percent: Central Bank', 'sub_title' => '', 'summary' => 'December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 16: Inflow of remittance into Nepal has declined in the fourth month of the current fiscal year compared to the corresponding period of last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank (NRB), the inflow of remittance decreased 7.5 percent to Rs 312.42 billion in the review period against an increase of 11.2 percent in the same period of the previous year. In the US dollar terms, remittance inflows decreased 7.8 percent to 2.63 billion in the review period against an increase of 6.4 percent in the same period of the previous year, shows the Current Marcoeconomic and Financial Situation Report published by NRB on Wednesday, December 15.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the report, the number of Nepali migrant workers taking approval for foreign employment increased significantly to 96,382 during the review period. It had decreased 95.7 percent in the same period of the previous year owing to the Covid-19 pandemic.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> The number of Nepali migrant workers (renew entry) taking approval for foreign employment increased 249.1 percent to 59,723 in the review period. It had decreased 78.9 percent in the same period of the previous year, the NRB report further stated. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the net transfer decreased 7.4 percent to Rs 345.65 billion in the review period. Such a transfer had increased 8.9 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14230', 'image' => '20211216112240_Remittance.jpg', 'article_date' => '2021-12-16 11:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14484', 'article_category_id' => '1', 'title' => 'Chitwan International Industrial Expo from December 17 ', 'sub_title' => '', 'summary' => 'December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The Sixth Chitwan International Industrial Expo is to be organised here from December 17 to 19. The event is being co-organised by the Chitwan Association of Industries and the Confederation of Nepalese Industries. </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 organizers said in a recent press conference that the preparation for the expo has reached the final stage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Chitwan Association of Industries Trilochan Kandel said the expo will feature 200 stalls including 50 from India. The expo aims to promote industrial sector affected by COVID-19. The objective of the expo is to support in revival of the nation’s economy hit by the pandemic instead of securing a profit, the organizers said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-16', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14229', 'image' => '20211216081758_Chitwan-International-Industrial-Expo-2021-01.jpg', 'article_date' => '2021-12-16 08:17:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14483', 'article_category_id' => '1', 'title' => 'Country’s Balance of Payments in Deficit of Rs 150 Billion', 'sub_title' => '', 'summary' => 'December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 15: Balance of Payments (BOP) of Nepal remained at a deficit of Rs 150.38 billion in the fourth month of the current fiscal year against a surplus of Rs 110.65 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the current macroeconomic and financial situation report of the country unveiled by the Nepal Rastra Bank (NRB) on Wednesday (December 15), the BOP remained at a deficit of 1.26 billion in terms of US dollars in the review period against a surplus of 931.7 million in the same period of the previous year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The report states that the current account remained at a deficit of Rs 223.19 billion in the review period against a surplus of Rs 19.01 billion in the same period of the previous year. In the US Dollar terms, the current account registered a deficit of 1.88 billion in the review period against a surplus of 158.6 million in the same period last year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 39.3 percent to Rs 2.52 billion and net foreign direct investment (FDI) increased 77.0 percent to Rs 6.63 billion, the report further states. In the same period of the previous year, capital transfer and net FDI amounted to Rs 4.15 billion and Rs 3.75 billion respectively.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, gross foreign exchange reserves decreased 11.0 percent to Rs 1244.85 billion in mid-November 2021 from Rs 1399.03 billion in mid-July 2021. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 11.0 percent to Rs 1107.47 billion in mid-November 2021 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 11.0 percent to Rs 137.38 billion in mid-November 2021 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 26.1 percent in mid-November 2021. </span></span></p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-16', 'keywords' => '', 'description' => '', 'sortorder' => '14228', 'image' => '20211215094940_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-15 21:48:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14482', 'article_category_id' => '236', 'title' => 'New Showroom of Renault in Lahan', 'sub_title' => '', 'summary' => 'December 15: A new showroom of Renault has come into operation in Lahan from Monday. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 15: A new showroom of Renault has come into operation in Lahan from Monday. Renault opened the new showroom with the aim of expanding its branches all over Nepal. Renault collaborated with Bhagya Mahalaxmi Automobiles to open the new showroom. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Adhir Kumar Shrestha, the General Manager of the company and Bipul Bhattarai, the Head of Sales Network, inaugurated the new showroom amid a function. According to a statement issued by the company, the inauguration ceremony was attended chief guest Ashok Lal Amatya from District Chamber of Commerce and Industry, and Ram Shah<strong>, </strong>the director of the Bhagya Laxmi Automobiles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We are committed to provide high quality services to our customers. In addition, we are grateful for the trust that Nepali consumers have put in us,” the statement quoted General Manager Adhir Kumar Shrestha as saying. The head of Sales Network, Bipul Bhattarai reportedly said that the newly opened showroom will provide all necessary services to the customers outside the Kathmandu Valley.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Renault's most popular models Kwid, Triber, Kiger and Duster are available in the new showroom. Customers can also get spare parts, accessories and other services at the showroom.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14227', 'image' => 'Renault.jfif', 'article_date' => '2021-12-15 16:39:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14481', 'article_category_id' => '1', 'title' => 'Commercial Farming of Turmeric Flourishing in Udayapur ', 'sub_title' => '', 'summary' => 'December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Siddhipur village of Chaudandigadhi Municipality in Udayapur has lately become popular for commercial production of turmeric. </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"">Farmers of Siddhipur had started commercial farming of turmeric 10 years ago. Until two years ago, the farmers of Siddhipur used to produce turmeric worth Rs 10 million annually. But the production has increased since last year. Turmeric worth Rs 15 million was produced last year, according to the state-owned national news agency RSS.</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"">Mayor of the Chaudandigadhi Municipality, Khagendra Kumar Rai, said that Siddhipur area has been declared as top turmeric pocket area of the district. </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"">Around 40 farmers of Siddhipur are currently involved in commercial farming of turmeric, RSS further reported. Chief of the District Agriculture Knowledge Centre, Udayapur, Mahesh Chaudhary, informed that commercial farming of turmeric has increased in the area. Commercial turmeric farming is being done in around 137 hectares of land in the district and around 800 metric tonnes of turmeric is produced here annually, he informed. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, Biratnagar-based Golchha and Dugad Mills buy most of the turmeric produced in the district. </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"">Moreover, Saune Khanbu of Triyuga Municipality, Mainamaini and Babala of Belaka, Risku of Katari Municipality and Sirise, Hardeni, Bhalayadanda, and Danuwarbesi areas are also the pocket areas of turmeric, according to the Centre. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14226', 'image' => '20211215043215_85427212.jpg', 'article_date' => '2021-12-15 16:31:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14480', 'article_category_id' => '1', 'title' => 'Bangladesh Willing to Buy Surplus Energy from Nepal', 'sub_title' => '', 'summary' => 'December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: Bangladesh has expressed its willingness to purchase surplus electricity from Nepal. Minister of State for Power, Energy, and Mineral Resources of Bangladesh, Nasrul Hamid, made such remarks during a meeting with a visiting delegation of the Confederation of Nepalese Industries (CNI) in Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The electricity generated in Nepal is being wasted without being consumed," he said, adding, "We can buy that electricity."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said Bangladesh has also done its homework to sign a long-term power purchase agreement (PPA) with Nepal's private sector. Due to a lack of market management in Nepal, 500 MW of electricity was wasted during the last monsoon. It has caused a loss of Rs 5 billion. Electricity generated in Nepal is being wasted due to the lack of adequate transmission lines and internal and external markets.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hamid said that Bangladesh is ready to upgrade infrastructure of the transmission line for the import of electricity from Nepal. Bangladesh will initiate the construction of a dedicated line, assured Hamid. He also said that Bangladesh will import 3,500 MW of electricity generated in Nepal by 2026.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Minister of State Hamid also expressed his commitment to discuss the issue with Nepal's private sector. "I will visit Nepal in March to finalize this issue," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The prospect of trilateral electricity trade has opened since India issued the Interstate Energy Trade Procedure in March 2021.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> This procedure has ended the dilemma regarding regulation and legal mechanisms in the international electricity trade. Although India is a potential market for Nepal's electricity, the private sector has become optimistic about inter-country electricity trade with Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bangladesh needs 24,000 MW of renewable energy by 2040 and plans to shut down coal-powered energy in the next four years. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the meeting, the President of the Confederation of Nepalese Industries Bishnu Kumar Agrawal urged the Minister of State Hamid to purchase electricity through PPA directly with the private sector of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ashish Garg, chairman of the confederation's infrastructure committee and vice-chairman of the Independent Power Producers' Association, gave a presentation on the state of power generation and power consumption in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Former president of the confederation Hari Bhakta Sharma, vice presidents Nirvana Chaudhary, Krishna Prasad Adhikari, and Virendra Raj Pandey and members of the National Council Laxmi Prasad Subedi, Bhim Prasad Ghimire, Dwiraj Sharma, and outgoing president of Chitwan Industries Association Raju Poudel were present at the meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Acting Ambassador of Nepal in Dhaka Kumar Rai and Director General of the Confederation Yadav Prasad Poudel, and Director Sabin Mishra were also present on the occasion.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14225', 'image' => '20211215042025_1639490269.cni_dhaka.jpg', 'article_date' => '2021-12-15 16:19:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14479', 'article_category_id' => '1', 'title' => 'Government Urged to Implement Provision Obliging Employers to Bear Costs of Foreign Employment ', 'sub_title' => '', 'summary' => 'December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: The General Federation of Trade Union (GFONT) has recommended the government to strictly implement the provision that makes it mandatory for employers to bear all the costs involved in course of foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Making public a study report on the evaluation of manpower company services amidst a programme on Tuesday, GEFONT recommended the government to fully implement the provision that the employers should provide enrollment fee and expenses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study has found that the aspiring migrant workers are forced to pay enrollment fee of Rs 100,000 in an average. Around 98 percent of the respondents out of a total of 1,593 surveyed during the study said they paid high enrollment fee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Less than two percent of the respondents said that they did not have to pay any enrollment fee and costs in course of foreign employment. The prevailing provision obliges the employers to bear all the expenses involved in course of the enrollment of workers in foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that the bilateral labour pacts signed by the government with the labour destination countries, including Jordan, Malaysia, United Arab Emirates (UAE) and Mauritius, have provision obliging employers to bear all costs involved in foreign employment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14224', 'image' => '20211215023334_20200315123851_1111.jpg', 'article_date' => '2021-12-15 14:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14478', 'article_category_id' => '1', 'title' => 'Chances of MCC Ratification from Parliament get Slim', 'sub_title' => '', 'summary' => 'December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 15: The conflicting views among political parties regarding the Millennium Challenge Corporation (MCC) grant agreement and the continued obstruction of parliament have made the chances of MCC ratification slimmer. The parliament session which resumed from Tuesday (December 14) was obstructed again by the main opposition party CPN UML. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the UML parliamentary party held before the start of the parliament session could not reach a conclusion about the MCC. The meeting decided to make public the party’s official stance only after the MCC grant agreement is presented in the parliament, according to Bishal Bhattarai, a UML leader.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The meeting of the CPN-Maoist parliamentary party also could not take any concrete decision. Instead, Pushpa Kamal Dahal, chairman of the party, briefed about recent political issues. According to Maoist lawmaker Rekha Sharma, Chairman Dahal also presented his opinions on the US-funded project. Dahal said MCC would not be tabled in the House without reaching consensus among the parties. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">She further said that the Maoist party is committed to its previous position on MCC. “We won’t support it until and unless the provisions against national interests are amended,” reiterated Dahal. While the US is pushing for MCC's early approval, the issue has not been discussed by the Nepali Congress which is preoccupied with the party’s general convention.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The MCC was expected to be ratified on Tuesday itself since the parliament session was called on the same day the board meeting of MCC was scheduled in Washington DC. During his recent visit, Donald Lu, US Assistant Secretary of State, had suggested to Prime Minister Sher Bahadur Deuba to take a decision on MCC before the MCC board meeting. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba has been reiterating that the MCC should be approved by the parliament. He has assured MCC Vice President Fatima Sumar, who visited Nepal in September, Alexia Latortu, MCC's Deputy Chief Executive Officer in Glasgow, and Lu that the agreement would be ratified. However, Deuba has not been able to make any headway due to lack of agreement among the ruling coalition. The Nepali Congress and the Maoists, who were in power when the MCC was signed, are again the key partners of the current government. </span></span></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Parliament obstruction continues</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first meeting of the 10th session of the House of Representatives held on December 14, Speaker Agni Prasad Sapkota urged the lawmakers not to obstruct the house session but the lawmakers of the main opposition party UML continued their protest. Despite the obstruction, six ordinances were tabled in the lower house meeting.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14223', 'image' => '20211215012519_MCC.jpg', 'article_date' => '2021-12-15 13:24:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14477', 'article_category_id' => '1', 'title' => 'Use Locally Made Handicraft Products: Vice President Pun', 'sub_title' => '', 'summary' => 'December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 15: Vice-President Nanda Bahadur Pun has urged one and all to use locally produced handicraft products for their promotion.</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"">Speaking at a programme organized to mark the 50th anniversary of the Federation of Handicraft Associations of Nepal and 10th Handicraft Day on Tuesday (December 14), Vice-President Pun said that the government should give high priority to the handicraft industry.</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"">"Government should give highest priority to handicraft sector which has helped maintain the identity of Nepal in the international arena and has also supported in creating job opportunities in the country," Pun reiterated. </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 vice president also appealed to all the government agencies to use domestic handicraft products. He added that the export of handicraft has been playing an important role in reducing trade deficit. </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"">Similarly, President of the federation Surendra Bhai Shakya said that they require cooperation and collaboration from all three tiers of governments to revitalize the handicraft sector that has been hard hit by the outbreak of COVID-19. He shared that various events would be held during the golden jubilee year of the federation including seminars and conferences to promote domestic handicraft products. </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"">Likewise, the federation's vice-chair Rabindra Shakya said that a policy related to handicraft should be formulated for the development and promotion of handicraft products. On the occasion, the federation felicitated its founding president Sagar Shumsher Rana, as well as founding member Motilal Shilpakar and best exporter of handicraft products Maheshwor Shrestha, Sunita Sherpa and Naresh Lal Shrestha among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-15', 'modified' => '2021-12-15', 'keywords' => '', 'description' => '', 'sortorder' => '14222', 'image' => '20211215112441_20170913113102_sect.jpg', 'article_date' => '2021-12-15 11:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14476', 'article_category_id' => '236', 'title' => 'Paramount Motors Launch MG Hector in Nepal', 'sub_title' => 'Pricing Starts at Rs 5.99 Million', 'summary' => 'December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 14: Paramount Motors Private Limited, the sole authorized distributor of MG Motors in Nepal, has officially launched the new Hector. The new model of MG Motors was launched recently at the company’s showroom in Naxal showroom amid a press conference. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Following the launch, Paramount Motors unveiled the price of the new model and announced the commencement of vehicle delivery to the customers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the company, Hector MT and CVT have been competitively priced at Rs 5.99 million and Rs 6.49 million respectively. The company claimed that the two variants are in high demand in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Issuing a statement on December 9, Paramount Motors said that the new Hector has been designed by taking into consideration the safety and functionality. The new Hector, made in India variant is said to suit the roads and traffic of Nepal and will be available for purchase through the company’s dealerships across the nation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Under its corporate social responsibility, Paramount Motors handed over Rs 1 million to help Zonta Club of Kathmandu organize awareness campaign on issues related to domestic violence, work/public harassment and child marriage. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Hectorr.jpg" style="height:214px; width:800px" /></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14221', 'image' => '20211214070043_Hector.jpg', 'article_date' => '2021-12-14 18:58:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, '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
