KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading…
KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading…
KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to…
The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali…
KATHMANDU: The government is set to promote and facilitate investment in startup enterprises.…
Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year…
KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on…
Kathmandu: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year…
KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5…
KATHMANDU: Experts say informal cross-border trade is thriving in South Asia due to the high cost of trade transaction using the formal…
Kathmandu: The Gandaki Province chapter of Nepal Association of Tour and Travel Agents (NATTA) has decided to conduct tourism promotion programmes in various cities of China for a…
KATHMANDU: Prime Minister Pushpa Kamal Dahal has urged the private sector to invest in the country's hydropower sector with confidence in the context that the Government of Nepal has signed an agreement to export 10,000 megawatts of power to India in a…
KATHMANDU: The Department of Hydrology and Meteorology has predicted more than average rainfall during monsoon this…
Kathmandu: The Confederation of Nepalese Industries (CNI) and European Union (EU) officials discussed bilateral trade and economic cooperation enhancement between Nepal and EU on…
Pokhara: More than 177,182 foreign tourists visited the Annapurna Circuit, a popular trekking route in Gandaki Province, in the past 10 months, according to the Annapurna Conservation Area Project…
Kathmandu: National Planning Commission (NPC) Vice Chairman Dr. Min Bahadur Shrestha has said that the 16th periodic plan has prioritized production and employment.…
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Hallmark gold was traded for Rs 139,300 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the price of standard gold has reached Rs 140,200 while it was traded for Rs 38,650 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the federation has fixed the price of silver at Rs 1910 per tola on Sunday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The price of gold has been rising steadily in the past few weeks. In the Nepali month of Chaitra (mid-March to mid-April), the price of gold has increased eleven times in the domestic market of Nepal. The federation fixes the price of gold and silver based on the price in the international market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Businessmen complain that the gold and silver jewelry business has decreased due to the continuous rise in the price of gold.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20748', 'image' => '20240519013650_gold newwww.jpg', 'article_date' => '2024-05-19 13:36:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21019', 'article_category_id' => '1', 'title' => 'Nepali Students in Kyrgyzstan Urged to Exercise Caution ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The request comes following reports of mob violence targeting foreign students in Bishkek, the capital of Kyrgyzstan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Embassy of Nepal in Islamabad, Pakistan has stated that the around 280 Nepalis living in and around Bishkek are reported to be safe. For any kind of information and support, the Embassy has requested to contract the Embassy's phone number +92512610321 (including WhatsApp) and email at eonislamabad@mofa.gov.np. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kyrgyz foreign ministry on Saturday assured that the situation was under control. </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"">“From the moment information about the incident was received, law enforcement agencies of the Kyrgyz Republic took prompt measures to detain persons involved in the event, both foreign citizens and citizens of the Kyrgyz Republic,” the Kyrgyz foreign ministry said in a statement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20746', 'image' => '20240519123533_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-19 12:35:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21018', 'article_category_id' => '1', 'title' => 'Political Parties Agree to Form Parliamentary Probe Committee to End Deadlock', 'sub_title' => '', 'summary' => 'The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress (NC) was demanding the formation of a parliamentary committee to probe the alleged misappropriations in the cooperatives sector by Deputy Prime Minister and Home Minister Ravi Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the ruling parties and opposition NC held at the Prime Minister's official residence in Baluwatar on Saturday decided to constitute the committee, NC's chief whip Ramesh Lekhak told the state-owned RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Lekhak, the ToR of the committee will be finalized on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that all the political parties have shared a common view on forming the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak termed the decision as an achievement and a positive move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs Padam Giri would coordinate the job of drafting the ToR of the committee and the leaders of all political parties will give a final touch, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak viewed that the House of Representatives (HoR) meeting summoned for Sunday would be held after the decision to form the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A series of discussions and meetings among the leaders were held on Saturday for the formation of the committee. </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 latest move is expected to end the political deadlock that has obstructed the parliamentary session as the government prepares to announce the budget. As per the constitutional provision, the government has to announce the budget for the upcoming fiscal year on May 28 this year. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20745', 'image' => '20240519112849_Parliament.jpg', 'article_date' => '2024-05-19 11:25:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21016', 'article_category_id' => '1', 'title' => 'Government Adopts Policy to Waive Income Tax and Provide Easy Loans to Startups', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. The 'National Startups Policy, 2080,' adopted and enforced by the Council of Ministers on May 2 specifies arrangements to provide waivers and facilities to the startups. In addition, it also has provisions to facilitate investment, ease policy and legal provisions, and assure commercial safety of startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new policy states that exemptions will be made for costs involved in the registration and renewal of enterprises, and registration of industrial properties. Entrepreneurs will receive facilities and concessions for seed money, human resource development, consultancy and technical assistance, concessional loans, and cash incentives on exports, states the new policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the startup policy, startup enterprises will receive an income tax waiver for up to 10 years after establishment. Additionally, arrangements will be made to provide loans at concessional rates from banks and financial institutions, which will be required to allocate a certain percentage of their loan portfolio to startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A separate fund will be established to promote new ideas and innovative enterprises, and subsidies will be provided for loans offered by banks and financial institutions to startups and innovations, the policy notes. -- RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20743', 'image' => '20240519111030_startup.jpg', 'article_date' => '2024-05-19 11:09:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21015', 'article_category_id' => '1', 'title' => 'Birgunj Dryport Customs Falls Short of Revenue Collection Target', 'sub_title' => '', 'summary' => ' Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 19: Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Customs Chief Ram Prasad Mainali stated that the decrease in imports due to the economic recession and the reduction in industrial production has impacted revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This customs office, located at a major entry point, collected 40.03 billion rupees from the beginning of the fiscal year (Saun) to the end of Baisakh. This amount is 60.72% of the total target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs had set a target of collecting 54.27 billion rupees for this period. For the current fiscal year, the total revenue target stands at 65.94 billion rupees, but customs officials claim they will not be able to exceed 70% of the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Raw materials for the iron industry, such as billets, and maize for animal feed are mainly imported via the dry port. The customs office reported a decline in imports of industrial raw materials and other consumables.</span></span></p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20742', 'image' => '20240519070146_collage (3).jpg', 'article_date' => '2024-05-19 07:00:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '21014', 'article_category_id' => '1', 'title' => 'Government to Ban Indian Spice Brands over Safety Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Hong Kong and Singapore last month banned products from Everest and MDH -- two brands popular in India and exported worldwide -- after tests detected the presence of ethylene oxide, according to media reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides its use as a pesticide, ethylene oxide is used to sterilise medical equipment and as a sterilising agent in spices to prevent illnesses caused by salmonella and E. Coli bacteria, added the news report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Regular exposure to the colourless and odourless compound increases the "risk of cancers of the white blood cells", according to the US Environmental Protection Agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Matina Joshi Vaidya, chief of Nepal's Department of Food Technology and Quality Control, told AFP that the government had also decided to halt the sale of the spice blends.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is an issue of public health," she said. "We have its banned import and sale from Thursday."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has banned four products -- three variants produced by MDH and one by Everest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We do not have the lab resources to run the tests in the country. The ban will be lifted when Indian authorities declare it safe," AFP quoted Vaidya as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Everest and MDH are India's top two spice brands with a market share of 16 and 10 percent respectively in 2022, according to consumer research monitor Statista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Both companies have put out statements denying their products pose a health hazard to consumers after the Singapore and Hong Kong import bans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We clarify and state unequivocally that these claims are untrue and lack any substantiating evidence," MDH said last month on social media platform X.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's food regulation agency has asked for state authorities to carry out random testing of spice products, broadcaster NDTV reported.</span></span></p> ', 'published' => true, 'created' => '2024-05-18', 'modified' => '2024-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '20741', 'image' => '20240518082036_masala.jpg', 'article_date' => '2024-05-18 08:19:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21013', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Risk Weightage of Vehicle Loan through Monetary Policy Review', 'sub_title' => '', 'summary' => 'Kathmandu: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. The Nepal Rastra Bank (NRB) has announced changes in the risk weightage of vehicle loans as part of the third-quarter review of the monetary policy for the current fiscal year 2023/24. The central bank has reduced the risk weightage on hire purchase loans provided by banks and financial institutions from 125 percent to 100 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the NRB has introduced a provision that allows for the extension of home purchase loans based on the Debt Service to Gross Income Ratio, increasing the limit from 50 percent to 70 percent, provided appropriate evidence is presented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In its review of the monetary policy, the NRB has also introduced a provision allowing banks and financial institutions to sell up to 20 percent of their primary capital in a single fiscal year from investments made in the mid-cap fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the loan loss provision requirement for loans classified as 'good loans' has been maintained at 1.20 percent, slightly reduced from the previous 1.25 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB indicated that the existing provisions related to the import and sale of silver would be reviewed. The flexibility outlined in the annual monetary policy has been maintained in this third-quarter review.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Based on the current internal and external economic conditions and outlook, the policy rate of 5.5 percent, the deposit collection rate under the interest rate corridor of 3.0 percent, and the bank rate of 7.0 percent have remained unchanged," the review states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB also mentioned that the provision of permanent deposit facilities would be reviewed as necessary to ensure the effectiveness of the interest rate corridor. Moreover, the central bank added that necessary facilitation would be provided to enable the use of additional instruments to further strengthen the capital base of banks and financial institutions.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20740', 'image' => '20240517074004_20231001020926_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-05-17 19:39:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21012', 'article_category_id' => '1', 'title' => 'Government Starts Implementing Public Investment Management Action Plan', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan prepared by the National Planning Commission to make public expenditure efficient and orderly has been implemented with the approval of the recent cabinet meeting.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has identified the problem of failure of government bodies in spending a significant portion (on average 30 to 40 percent) of the amount allocated through the annual budget and program for the development of public infrastructure.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan in which the problem has also been identified mentions, "Since the allocated amount could not be spent within the stipulated time, the project completion period is increasing compared to the initial estimate and the project cost is also increasing. There is a situation where the people are being deprived of using the service facilities on time."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yamlal Bhusal, the Acting Secretary of NPC, said that the action plan brought to increase the effectiveness of government spending will help to increase the effectiveness of investments in projects run by the government, public institutions and public-private investment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan mentions that the National Project Bank will be reformed in a phased manner. The project bank operation procedures will also be formulated. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the second goal is to organize the capital project portfolio through regular and transparent central monitoring. Under this section, the NPC will be made responsible for submitting quarterly and annual monitoring reports with detailed information about the project portfolio.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has also set targets to increase transparency in investment projects included in the budget and to prepare and implement guidelines for the regular maintenance of public infrastructure. The Ministry of Finance will be responsible for publishing detailed capital expenditure data at the sectoral and project levels, along with the annual budget, to show how investments from non-budgetary funds, public institutions, public-private partnerships, provincial and local levels, and development partners are being utilized.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In order to ensure effective and transparent monitoring of public procurement, the action plan has set goals such as improving the electronic public procurement system, improving the central monitoring and inspection of investment projects through public institutions and public-private partnerships, and making necessary arrangements to strengthen project management.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The main work to be done to achieve each of these goals and the agencies and officials responsible for the same have also been specified in the action plan. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Questions are often raised about the ineffectiveness of government spending. In the absence of integrated details of the projects operated by three levels of government, funds are allocated twice for the same project from more than one level of government or from different agencies of the same level of government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“After the implementation of this action plan, it is expected that there will be no budget allocation for projects or programs that have not been adequately prepared and are not financially and technically feasible,” said Acting Secretary Bhusal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20739', 'image' => '20240517012026_20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-17 13:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21011', 'article_category_id' => '1', 'title' => 'Informal Cross-Border Trade Thriving in South Asia: Experts', 'sub_title' => '', 'summary' => 'KATHMANDU: Experts say informal cross-border trade is thriving in South Asia due to the high cost of trade transaction using the formal channels.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">KATHMANDU: Experts say informal cross-border trade is thriving in South Asia due to the high cost of trade transaction using the formal channels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">The experts made such a remark during a workshop organized in Kathmandu on Thursday by South Asia Watch on Trade, Economics and Environment (SAWTEE) in partnership with the International Food Policy Research Institute (IFPRI) to disseminate the findings of their study that examined the dynamics of informal trade in agri-food commodities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Speaking at the workshop titled “Insights into Informal Cross-Border Trade in Agri-Food Commodities in South Asia,” the experts also pointed out that such informal exchanges offset the policies and become a source of ineffectiveness for domestic policies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Issuing a statement on Thursday, SAWTEE said that the workshop centered on the dynamics of informal trade in agri-food commodities between Nepal and India and India and Bangladesh, shedding light on the nuances of trade patterns, modes, and underlying drivers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dikshya Singh, programme coordinator at SAWTEE, highlighted in her presentation that evasion of tariffs and duties, variation in prices and bans on import and export serve as key drivers of informal trade. Singh said that informal trade is highly responsive to India’s ban on exports and price variations as the result of different production costs on the Nepali and the Indian sides and tariffs in the case of products such as rice and vegetables. The study found that prices of rice across the border markets could be as high as 20 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Informal trade of agri-food commodities, including inputs, has increased access to those products preventing shortages and spikes in prices but that undermined the productive capacity of Nepali goods and diminished their competitiveness, she pointed out.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">As per findings from the IFPRI study on informal trade in agricultural goods between Bangladesh and India, prominent items include edible oils, rice seeds, tea, fertilizer, soybean oil, and palm oil. The study reveals that this informal trade is dominated by a small group of traders forming an oligopoly. Moreover, the study indicates that large-scale informal trade is controlled by mafia-style syndicates with political backing.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dr Mamata Pradhan, IFPRI’s research coordinator, highlighted during her presentation the robust nexus between trade and finance, facilitated by the hundi system of informal international money transfers, which significantly bolsters informal trade between India and Bangladesh. She also mentioned that 80 percent of carriers in the informal trade are women as most of the border points have no women security personnel at the India-Bangladesh border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dr Posh Raj Pandey, chair emeritus of SAWTEE, highlighted that obstruction in the entry and exit of products, policy disruption at the domestic level and weak law enforcement at the border contribute to informal trade in Nepal. Dr Pandey emphasized the necessity of reducing trade transaction costs to mitigate informal trade, advocating for measures such as enhancing trade facilitation, improving border infrastructure, and minimizing tariff barriers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Anand Bagaria, managing director of Nimbus Holdings, stressed the importance of adopting a measured and proactive strategy towards policymaking in dealing with informal cross-border trade. Since we cannot influence our neighbouring countries’ policies, Nepal needs to be clear about what could be the right balance between inflation, government revenue and mitigating quality-related risks while adopting a corrective approach to deal with informal trade, he added. Bagaria also acknowledged the inherent challenges in halting informal trade at the household consumption level while highlighting the role of policy in regulating commercial consumption.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Drawing parallels with Africa, where central banks conduct surveys on informal trade, Dr Ramesh Sharma, senior economist, formerly with FAO, Rome, made a point on the potential role of the Nepal Rastra Bank and the National Statistics Office in measuring informal trade periodically. Dr Sharma highlighted the importance of leveraging existing resources while preparing Nepal’s food balance sheet. He further suggested that the Nepal Rastra Bank, along with the Ministry of Industry, Commerce, and Supplies and the Ministry of Agriculture and Livestock Development, could collaborate to facilitate trade and minimize informal trade practices.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Sabnam Shivakoti, joint secretary at the Ministry of Agriculture and Livestock Development, emphasized the significance of rules and regulations within the border control mechanism to address sanitary and phytosanitary issues in agri-food commodities. She said that such concerns should not pose obstacles, as the repercussions of neglecting them can be more costly as they are legitimate measures to ensure that harmful pests and diseases are prevented from entering our territories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Shivakoti also pointed out that cross-border trade that was done traditionally due to social ties across borders is not the same as the organized commercial informal trade that is happening now at a large scale that affects agriculture as well as industrial sectors as they have to compete with cheap imports. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">She cited the example of import restriction of dairy products that was announced in February 2024 to protect domestic farmers and the dairy industry but that led to formal imports being diverted to informal channels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">According to SAWTEE, participants of the workshop included policy makers, private sector representatives, representatives of farmers’ organizations, members of civil society and experts.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20738', 'image' => '20240517012115_phansidewa farmers.jpg', 'article_date' => '2024-05-17 12:52:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21010', 'article_category_id' => '1', 'title' => 'NATTA Gandaki Province to Promote Nepali Tourism in Chinese Cities ', 'sub_title' => '', 'summary' => 'Kathmandu: The Gandaki Province chapter of Nepal Association of Tour and Travel Agents (NATTA) has decided to conduct tourism promotion programmes in various cities of China for a week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The Gandaki Province chapter of Nepal Association of Tour and Travel Agents (NATTA) has decided to conduct tourism promotion programmes in various cities of China for a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NATTA's Gandaki Province Chair Hari Ram Adhikari informed at a press meet that a programme 'Pokhara-Nepal tourism promotion and sales mission in China' would be organized in various cities. A 16-member team left for China on Thursday for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 16-member team will also attend the Guangzhou international travel fair being organized by the Guangzhou city of China for three days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A documentary showcasing tourism activities in Pokhara will be screened in Beijing amidst a programme coordinated jointly by Nepal Tourism Board and Nepali Embassy in China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delegation will also distribute promotional materials on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Discussion will be held with businesspersons and their associations in a bid to create atmosphere conducive for conducting direct flights from Pokhara to Chinese cities. The delegation will inspect the economic and tourism developments in China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that the promotional programme would be helpful to bringing more Chinese tourists in Nepal. The NATTA informed that the number of tourists from China has doubled this year as compared to last year. In April this year, a total of 9,750 Chinese tourists visited Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the visit is further expected to foster collaboration between tourism entrepreneurs of both the countries. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20737', 'image' => '20240517122913_20230611044301_6.jpg', 'article_date' => '2024-05-17 12:28:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21009', 'article_category_id' => '1', 'title' => 'PM Urges Private Sector to Invest in Hydropower Projects Confidently', 'sub_title' => '', 'summary' => 'KATHMANDU: Prime Minister Pushpa Kamal Dahal has urged the private sector to invest in the country's hydropower sector with confidence in the context that the Government of Nepal has signed an agreement to export 10,000 megawatts of power to India in a decade. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Prime Minister Pushpa Kamal Dahal has urged the private sector to invest in the country's hydropower sector with confidence in the context that the Government of Nepal has signed an agreement to export 10,000 megawatts of power to India in a decade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the 22nd annual general assembly of Independent Power Producers' Association of Nepal (IPPAN) on Friday, the PM said the moment to export 10,000 megawatts of power will be a historical achievement for the country's journey to prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have signed a long-term agreement with neighbouring India for the export of 10,000 megawatts of electricity in 10 years. Likewise, power trade will be done with Bangladesh via India's transmission line. This is a historic success not only of Nepal's hydroelectricity sector but in terms of commitment to prosperity journey and campaign," the PM stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM also expressed confidence that an agreement to export Nepal's electricity to Bangladesh will be signed soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the PM shared that the government is effortful for promoting different programmes to increase power consumption in the domestic market besides the power export. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the government is considering to promote electric vehicles and appliances to reduce the import of petroleum products and to increase the domestic consumption of electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In his speech, the PM viewed electricity as the most important sector for the country's development and prosperity, and appreciated the role of the private sector in scaling up power production. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => 'energy, power, trade, Nepal, India, Bangladesh, hydropower, production, transmission, prosperity, government', 'description' => '', 'sortorder' => '20736', 'image' => '20240517115552_hydro.jpg', 'article_date' => '2024-05-17 11:54:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21008', 'article_category_id' => '1', 'title' => 'More than Average Rainfall Likely during this Monsoon: Met Department ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Department of Hydrology and Meteorology has predicted more than average rainfall during monsoon this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Department of Hydrology and Meteorology has predicted more than average rainfall during monsoon this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a recent programme organised by the National Monsoon Forum, the department's meteorologist Sudarsan Humagai said rainfall exceeding 35.4 to 55.4 per cent than average has been predicted in most parts of the country in the upcoming monsoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The north-west areas of Sudurpashim Province, the south-east areas of Bagamati, the central part of Madhesh and the central and mid-west parts of Koshi Province are likely to see more rain (35.4 per cent to 65.5 per cent) than average this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the western part of the Karnali, central part of Gandaki, and north-east part of Koshi are likely to witness rain more by 35-45 per cent than average. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minimum precipitation in most parts of the county is likely to be more than average by 35-65 percent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20735', 'image' => '20240517105935_sno.jpg', 'article_date' => '2024-05-17 10:57:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21007', 'article_category_id' => '1', 'title' => 'CNI and EU Officials Discuss Enhancing Bilateral Trade ', 'sub_title' => '', 'summary' => 'Kathmandu: The Confederation of Nepalese Industries (CNI) and European Union (EU) officials discussed bilateral trade and economic cooperation enhancement between Nepal and EU on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The Confederation of Nepalese Industries (CNI) and European Union (EU) officials discussed bilateral trade and economic cooperation enhancement between Nepal and EU on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office bearers of the CNI held discussion with Deputy Director General of the European Commission, Myriam Ferran, and the Ambassador of the European Union (EU) to Nepal, Veronique Lorenzo, on matters relating to strengthening of bilateral trade relations between the two sides and increasing the export capacity of Nepali products to the European market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the CNI, the discussion focused on graduation of Nepal from least developed to a developing country by 2026, the potential of Nepal's manufacturing and information technology sectors, and commercial benefits and economic development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, CNI President Rajesh Kumar Agarwal shed light on various aspects of the economic and commercial relations between Nepal and the European Union and shared about the areas of cooperation that the EU can provide for the economic development of Nepal in the future. He sought necessary support to re-operate direct air flights from Nepal to the European countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EU Ambassador to Nepal, Veronique, said that the European Union is committed to support Nepal in its journey of economic growth and development. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20734', 'image' => '20240517100822_blank eight by six.jpg', 'article_date' => '2024-05-17 10:07:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21006', 'article_category_id' => '1', 'title' => 'Over 177,000 Tourists Visit Annapurna Region in 10 Months', 'sub_title' => '', 'summary' => 'Pokhara: More than 177,182 foreign tourists visited the Annapurna Circuit, a popular trekking route in Gandaki Province, in the past 10 months, according to the Annapurna Conservation Area Project (ACAP).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Pokhara: More than 177,182 foreign tourists visited the Annapurna Circuit, a popular trekking route in Gandaki Province, in the past 10 months, according to the Annapurna Conservation Area Project (ACAP). The highest number of tourists visited the area during the month of Chaitra (mid-March to mid-April) when 35,265 visitors arrived in the region that covers five districts – Lamjung, Manang, Mustang, Myagdi and Kaski.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ACAP chief Dr Rabin Kadariya reported that 79,232 tourists came from South Asian countries, while 97,950 tourists arrived from other parts of the world during the review period. The months of September-October and April-May are considered the best times for trekking in the region.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although most Indian tourists visiting Muktinath and other sites in the Annapurna Circuit use the motorway, tourists from other countries prefer trekking, he told RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Domestic and foreign tourists throng the Annapurna area during the peak tourist season," said Dr. Kadariya. "Tourism in the area is returning to pre-COVID-19 levels. Recently, there has been a significant influx of tourists from various countries."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ACAP maintains records of foreign tourists visiting the Annapurna Circuit. Kadariya noted that the number of domestic tourists coming through the land route from Mustang and other places could not be ascertained.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Annapurna Circuit has become a favorite trekking route for tourists from many countries. In 2023, 191,558 tourists from 173 countries visited Annapurna, marking the highest number of tourists in a single year. In comparison, 181,000 tourists visited the area in 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Thousands of domestic and foreign tourists visit key sites such as Annapurna Base Camp, Mardi Himal, Lwang, Ghandruk village, Tilicho Lake, Thorangla Pass, Upper Mustang, Muktinath, Ghodepani of Myagdi, and Poonhil every year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Annapurna Circuit is renowned for its attractive locations, including mountains and glaciers, tourism-friendly infrastructure, favorable climate, and the hospitality services and facilities provided by the locals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Short, medium, and long treks to the Annapurna region can be undertaken through routes in Kaski, Lamjung, Manang, Mustang and Myagdi. The Annapurna Conservation Area, covering 7,600 square kilometers, spans 89 wards across 16 local units in the five districts. The Annapurna region is rich in natural beauty, biodiversity, mountainous life, and diverse culture. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-16', 'modified' => '2024-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '20733', 'image' => '20240516074933_20240102031942_20220508080527_Annapurna circuit (3).jpg', 'article_date' => '2024-05-16 19:48:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21005', 'article_category_id' => '1', 'title' => 'Production and Employment are Priorities of 16th Plan: NPC Vice Chair', 'sub_title' => '', 'summary' => 'Kathmandu: National Planning Commission (NPC) Vice Chairman Dr. Min Bahadur Shrestha has said that the 16th periodic plan has prioritized production and employment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: National Planning Commission (NPC) Vice Chairman Dr. Min Bahadur Shrestha has said that the 16th periodic plan has prioritized production and employment. The NPC officially unveiled the 16th plan on Wednesday. </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:"Arial","sans-serif"">Stating that there is a gap between the goals and the achievements of the 15th plan, Shrestha said that the main focus of the 16th plan is implementation. "The five-year tasks to be undertaken by every ministry are included in the plan. It has been prepared by engaging with more than 3,000 stakeholders. In this plan, the problems and challenges have been studied and researched in detail, and solutions have been drawn out," 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:"Arial","sans-serif"">He stated that the current economy's main problem is the lack of production and employment. "In the 16th Plan, production and economic growth have been given top priority," said Shrestha.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-16', 'modified' => '2024-05-16', 'keywords' => 'production, employment, plan, economy', 'description' => '', 'sortorder' => '20732', 'image' => '20240516082531_blank eight by six.jpg', 'article_date' => '2024-05-16 08:20:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21021', 'article_category_id' => '1', 'title' => 'Price of Gold Hits Rs 140,900 per Tola ', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Federation of Nepal Gold and Silver Dealers' Associations, the price of hallmark gold has reached Rs 140,900. Hallmark gold was traded for Rs 139,300 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the price of standard gold has reached Rs 140,200 while it was traded for Rs 38,650 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the federation has fixed the price of silver at Rs 1910 per tola on Sunday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The price of gold has been rising steadily in the past few weeks. In the Nepali month of Chaitra (mid-March to mid-April), the price of gold has increased eleven times in the domestic market of Nepal. The federation fixes the price of gold and silver based on the price in the international market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Businessmen complain that the gold and silver jewelry business has decreased due to the continuous rise in the price of gold.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20748', 'image' => '20240519013650_gold newwww.jpg', 'article_date' => '2024-05-19 13:36:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21019', 'article_category_id' => '1', 'title' => 'Nepali Students in Kyrgyzstan Urged to Exercise Caution ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The request comes following reports of mob violence targeting foreign students in Bishkek, the capital of Kyrgyzstan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Embassy of Nepal in Islamabad, Pakistan has stated that the around 280 Nepalis living in and around Bishkek are reported to be safe. For any kind of information and support, the Embassy has requested to contract the Embassy's phone number +92512610321 (including WhatsApp) and email at eonislamabad@mofa.gov.np. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kyrgyz foreign ministry on Saturday assured that the situation was under control. </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"">“From the moment information about the incident was received, law enforcement agencies of the Kyrgyz Republic took prompt measures to detain persons involved in the event, both foreign citizens and citizens of the Kyrgyz Republic,” the Kyrgyz foreign ministry said in a statement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20746', 'image' => '20240519123533_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-19 12:35:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21018', 'article_category_id' => '1', 'title' => 'Political Parties Agree to Form Parliamentary Probe Committee to End Deadlock', 'sub_title' => '', 'summary' => 'The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress (NC) was demanding the formation of a parliamentary committee to probe the alleged misappropriations in the cooperatives sector by Deputy Prime Minister and Home Minister Ravi Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the ruling parties and opposition NC held at the Prime Minister's official residence in Baluwatar on Saturday decided to constitute the committee, NC's chief whip Ramesh Lekhak told the state-owned RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Lekhak, the ToR of the committee will be finalized on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that all the political parties have shared a common view on forming the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak termed the decision as an achievement and a positive move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs Padam Giri would coordinate the job of drafting the ToR of the committee and the leaders of all political parties will give a final touch, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak viewed that the House of Representatives (HoR) meeting summoned for Sunday would be held after the decision to form the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A series of discussions and meetings among the leaders were held on Saturday for the formation of the committee. </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 latest move is expected to end the political deadlock that has obstructed the parliamentary session as the government prepares to announce the budget. As per the constitutional provision, the government has to announce the budget for the upcoming fiscal year on May 28 this year. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20745', 'image' => '20240519112849_Parliament.jpg', 'article_date' => '2024-05-19 11:25:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21016', 'article_category_id' => '1', 'title' => 'Government Adopts Policy to Waive Income Tax and Provide Easy Loans to Startups', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. The 'National Startups Policy, 2080,' adopted and enforced by the Council of Ministers on May 2 specifies arrangements to provide waivers and facilities to the startups. In addition, it also has provisions to facilitate investment, ease policy and legal provisions, and assure commercial safety of startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new policy states that exemptions will be made for costs involved in the registration and renewal of enterprises, and registration of industrial properties. Entrepreneurs will receive facilities and concessions for seed money, human resource development, consultancy and technical assistance, concessional loans, and cash incentives on exports, states the new policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the startup policy, startup enterprises will receive an income tax waiver for up to 10 years after establishment. Additionally, arrangements will be made to provide loans at concessional rates from banks and financial institutions, which will be required to allocate a certain percentage of their loan portfolio to startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A separate fund will be established to promote new ideas and innovative enterprises, and subsidies will be provided for loans offered by banks and financial institutions to startups and innovations, the policy notes. -- RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20743', 'image' => '20240519111030_startup.jpg', 'article_date' => '2024-05-19 11:09:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21015', 'article_category_id' => '1', 'title' => 'Birgunj Dryport Customs Falls Short of Revenue Collection Target', 'sub_title' => '', 'summary' => ' Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 19: Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Customs Chief Ram Prasad Mainali stated that the decrease in imports due to the economic recession and the reduction in industrial production has impacted revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This customs office, located at a major entry point, collected 40.03 billion rupees from the beginning of the fiscal year (Saun) to the end of Baisakh. This amount is 60.72% of the total target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs had set a target of collecting 54.27 billion rupees for this period. For the current fiscal year, the total revenue target stands at 65.94 billion rupees, but customs officials claim they will not be able to exceed 70% of the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Raw materials for the iron industry, such as billets, and maize for animal feed are mainly imported via the dry port. The customs office reported a decline in imports of industrial raw materials and other consumables.</span></span></p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20742', 'image' => '20240519070146_collage (3).jpg', 'article_date' => '2024-05-19 07:00:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '21014', 'article_category_id' => '1', 'title' => 'Government to Ban Indian Spice Brands over Safety Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Hong Kong and Singapore last month banned products from Everest and MDH -- two brands popular in India and exported worldwide -- after tests detected the presence of ethylene oxide, according to media reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides its use as a pesticide, ethylene oxide is used to sterilise medical equipment and as a sterilising agent in spices to prevent illnesses caused by salmonella and E. Coli bacteria, added the news report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Regular exposure to the colourless and odourless compound increases the "risk of cancers of the white blood cells", according to the US Environmental Protection Agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Matina Joshi Vaidya, chief of Nepal's Department of Food Technology and Quality Control, told AFP that the government had also decided to halt the sale of the spice blends.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is an issue of public health," she said. "We have its banned import and sale from Thursday."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has banned four products -- three variants produced by MDH and one by Everest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We do not have the lab resources to run the tests in the country. The ban will be lifted when Indian authorities declare it safe," AFP quoted Vaidya as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Everest and MDH are India's top two spice brands with a market share of 16 and 10 percent respectively in 2022, according to consumer research monitor Statista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Both companies have put out statements denying their products pose a health hazard to consumers after the Singapore and Hong Kong import bans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We clarify and state unequivocally that these claims are untrue and lack any substantiating evidence," MDH said last month on social media platform X.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's food regulation agency has asked for state authorities to carry out random testing of spice products, broadcaster NDTV reported.</span></span></p> ', 'published' => true, 'created' => '2024-05-18', 'modified' => '2024-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '20741', 'image' => '20240518082036_masala.jpg', 'article_date' => '2024-05-18 08:19:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21013', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Risk Weightage of Vehicle Loan through Monetary Policy Review', 'sub_title' => '', 'summary' => 'Kathmandu: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. The Nepal Rastra Bank (NRB) has announced changes in the risk weightage of vehicle loans as part of the third-quarter review of the monetary policy for the current fiscal year 2023/24. The central bank has reduced the risk weightage on hire purchase loans provided by banks and financial institutions from 125 percent to 100 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the NRB has introduced a provision that allows for the extension of home purchase loans based on the Debt Service to Gross Income Ratio, increasing the limit from 50 percent to 70 percent, provided appropriate evidence is presented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In its review of the monetary policy, the NRB has also introduced a provision allowing banks and financial institutions to sell up to 20 percent of their primary capital in a single fiscal year from investments made in the mid-cap fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the loan loss provision requirement for loans classified as 'good loans' has been maintained at 1.20 percent, slightly reduced from the previous 1.25 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB indicated that the existing provisions related to the import and sale of silver would be reviewed. The flexibility outlined in the annual monetary policy has been maintained in this third-quarter review.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Based on the current internal and external economic conditions and outlook, the policy rate of 5.5 percent, the deposit collection rate under the interest rate corridor of 3.0 percent, and the bank rate of 7.0 percent have remained unchanged," the review states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB also mentioned that the provision of permanent deposit facilities would be reviewed as necessary to ensure the effectiveness of the interest rate corridor. Moreover, the central bank added that necessary facilitation would be provided to enable the use of additional instruments to further strengthen the capital base of banks and financial institutions.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20740', 'image' => '20240517074004_20231001020926_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-05-17 19:39:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21012', 'article_category_id' => '1', 'title' => 'Government Starts Implementing Public Investment Management Action Plan', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan prepared by the National Planning Commission to make public expenditure efficient and orderly has been implemented with the approval of the recent cabinet meeting.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has identified the problem of failure of government bodies in spending a significant portion (on average 30 to 40 percent) of the amount allocated through the annual budget and program for the development of public infrastructure.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan in which the problem has also been identified mentions, "Since the allocated amount could not be spent within the stipulated time, the project completion period is increasing compared to the initial estimate and the project cost is also increasing. There is a situation where the people are being deprived of using the service facilities on time."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yamlal Bhusal, the Acting Secretary of NPC, said that the action plan brought to increase the effectiveness of government spending will help to increase the effectiveness of investments in projects run by the government, public institutions and public-private investment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan mentions that the National Project Bank will be reformed in a phased manner. The project bank operation procedures will also be formulated. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the second goal is to organize the capital project portfolio through regular and transparent central monitoring. Under this section, the NPC will be made responsible for submitting quarterly and annual monitoring reports with detailed information about the project portfolio.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has also set targets to increase transparency in investment projects included in the budget and to prepare and implement guidelines for the regular maintenance of public infrastructure. The Ministry of Finance will be responsible for publishing detailed capital expenditure data at the sectoral and project levels, along with the annual budget, to show how investments from non-budgetary funds, public institutions, public-private partnerships, provincial and local levels, and development partners are being utilized.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In order to ensure effective and transparent monitoring of public procurement, the action plan has set goals such as improving the electronic public procurement system, improving the central monitoring and inspection of investment projects through public institutions and public-private partnerships, and making necessary arrangements to strengthen project management.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The main work to be done to achieve each of these goals and the agencies and officials responsible for the same have also been specified in the action plan. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Questions are often raised about the ineffectiveness of government spending. In the absence of integrated details of the projects operated by three levels of government, funds are allocated twice for the same project from more than one level of government or from different agencies of the same level of government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“After the implementation of this action plan, it is expected that there will be no budget allocation for projects or programs that have not been adequately prepared and are not financially and technically feasible,” said Acting Secretary Bhusal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20739', 'image' => '20240517012026_20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-17 13:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21011', 'article_category_id' => '1', 'title' => 'Informal Cross-Border Trade Thriving in South Asia: Experts', 'sub_title' => '', 'summary' => 'KATHMANDU: Experts say informal cross-border trade is thriving in South Asia due to the high cost of trade transaction using the formal channels.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">KATHMANDU: Experts say informal cross-border trade is thriving in South Asia due to the high cost of trade transaction using the formal channels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">The experts made such a remark during a workshop organized in Kathmandu on Thursday by South Asia Watch on Trade, Economics and Environment (SAWTEE) in partnership with the International Food Policy Research Institute (IFPRI) to disseminate the findings of their study that examined the dynamics of informal trade in agri-food commodities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Speaking at the workshop titled “Insights into Informal Cross-Border Trade in Agri-Food Commodities in South Asia,” the experts also pointed out that such informal exchanges offset the policies and become a source of ineffectiveness for domestic policies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Issuing a statement on Thursday, SAWTEE said that the workshop centered on the dynamics of informal trade in agri-food commodities between Nepal and India and India and Bangladesh, shedding light on the nuances of trade patterns, modes, and underlying drivers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dikshya Singh, programme coordinator at SAWTEE, highlighted in her presentation that evasion of tariffs and duties, variation in prices and bans on import and export serve as key drivers of informal trade. Singh said that informal trade is highly responsive to India’s ban on exports and price variations as the result of different production costs on the Nepali and the Indian sides and tariffs in the case of products such as rice and vegetables. The study found that prices of rice across the border markets could be as high as 20 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Informal trade of agri-food commodities, including inputs, has increased access to those products preventing shortages and spikes in prices but that undermined the productive capacity of Nepali goods and diminished their competitiveness, she pointed out.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">As per findings from the IFPRI study on informal trade in agricultural goods between Bangladesh and India, prominent items include edible oils, rice seeds, tea, fertilizer, soybean oil, and palm oil. The study reveals that this informal trade is dominated by a small group of traders forming an oligopoly. Moreover, the study indicates that large-scale informal trade is controlled by mafia-style syndicates with political backing.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dr Mamata Pradhan, IFPRI’s research coordinator, highlighted during her presentation the robust nexus between trade and finance, facilitated by the hundi system of informal international money transfers, which significantly bolsters informal trade between India and Bangladesh. She also mentioned that 80 percent of carriers in the informal trade are women as most of the border points have no women security personnel at the India-Bangladesh border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dr Posh Raj Pandey, chair emeritus of SAWTEE, highlighted that obstruction in the entry and exit of products, policy disruption at the domestic level and weak law enforcement at the border contribute to informal trade in Nepal. Dr Pandey emphasized the necessity of reducing trade transaction costs to mitigate informal trade, advocating for measures such as enhancing trade facilitation, improving border infrastructure, and minimizing tariff barriers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Anand Bagaria, managing director of Nimbus Holdings, stressed the importance of adopting a measured and proactive strategy towards policymaking in dealing with informal cross-border trade. Since we cannot influence our neighbouring countries’ policies, Nepal needs to be clear about what could be the right balance between inflation, government revenue and mitigating quality-related risks while adopting a corrective approach to deal with informal trade, he added. Bagaria also acknowledged the inherent challenges in halting informal trade at the household consumption level while highlighting the role of policy in regulating commercial consumption.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Drawing parallels with Africa, where central banks conduct surveys on informal trade, Dr Ramesh Sharma, senior economist, formerly with FAO, Rome, made a point on the potential role of the Nepal Rastra Bank and the National Statistics Office in measuring informal trade periodically. Dr Sharma highlighted the importance of leveraging existing resources while preparing Nepal’s food balance sheet. He further suggested that the Nepal Rastra Bank, along with the Ministry of Industry, Commerce, and Supplies and the Ministry of Agriculture and Livestock Development, could collaborate to facilitate trade and minimize informal trade practices.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Sabnam Shivakoti, joint secretary at the Ministry of Agriculture and Livestock Development, emphasized the significance of rules and regulations within the border control mechanism to address sanitary and phytosanitary issues in agri-food commodities. She said that such concerns should not pose obstacles, as the repercussions of neglecting them can be more costly as they are legitimate measures to ensure that harmful pests and diseases are prevented from entering our territories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Shivakoti also pointed out that cross-border trade that was done traditionally due to social ties across borders is not the same as the organized commercial informal trade that is happening now at a large scale that affects agriculture as well as industrial sectors as they have to compete with cheap imports. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">She cited the example of import restriction of dairy products that was announced in February 2024 to protect domestic farmers and the dairy industry but that led to formal imports being diverted to informal channels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">According to SAWTEE, participants of the workshop included policy makers, private sector representatives, representatives of farmers’ organizations, members of civil society and experts.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20738', 'image' => '20240517012115_phansidewa farmers.jpg', 'article_date' => '2024-05-17 12:52:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21010', 'article_category_id' => '1', 'title' => 'NATTA Gandaki Province to Promote Nepali Tourism in Chinese Cities ', 'sub_title' => '', 'summary' => 'Kathmandu: The Gandaki Province chapter of Nepal Association of Tour and Travel Agents (NATTA) has decided to conduct tourism promotion programmes in various cities of China for a week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The Gandaki Province chapter of Nepal Association of Tour and Travel Agents (NATTA) has decided to conduct tourism promotion programmes in various cities of China for a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NATTA's Gandaki Province Chair Hari Ram Adhikari informed at a press meet that a programme 'Pokhara-Nepal tourism promotion and sales mission in China' would be organized in various cities. A 16-member team left for China on Thursday for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 16-member team will also attend the Guangzhou international travel fair being organized by the Guangzhou city of China for three days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A documentary showcasing tourism activities in Pokhara will be screened in Beijing amidst a programme coordinated jointly by Nepal Tourism Board and Nepali Embassy in China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delegation will also distribute promotional materials on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Discussion will be held with businesspersons and their associations in a bid to create atmosphere conducive for conducting direct flights from Pokhara to Chinese cities. The delegation will inspect the economic and tourism developments in China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that the promotional programme would be helpful to bringing more Chinese tourists in Nepal. The NATTA informed that the number of tourists from China has doubled this year as compared to last year. In April this year, a total of 9,750 Chinese tourists visited Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the visit is further expected to foster collaboration between tourism entrepreneurs of both the countries. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20737', 'image' => '20240517122913_20230611044301_6.jpg', 'article_date' => '2024-05-17 12:28:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21009', 'article_category_id' => '1', 'title' => 'PM Urges Private Sector to Invest in Hydropower Projects Confidently', 'sub_title' => '', 'summary' => 'KATHMANDU: Prime Minister Pushpa Kamal Dahal has urged the private sector to invest in the country's hydropower sector with confidence in the context that the Government of Nepal has signed an agreement to export 10,000 megawatts of power to India in a decade. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Prime Minister Pushpa Kamal Dahal has urged the private sector to invest in the country's hydropower sector with confidence in the context that the Government of Nepal has signed an agreement to export 10,000 megawatts of power to India in a decade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the 22nd annual general assembly of Independent Power Producers' Association of Nepal (IPPAN) on Friday, the PM said the moment to export 10,000 megawatts of power will be a historical achievement for the country's journey to prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have signed a long-term agreement with neighbouring India for the export of 10,000 megawatts of electricity in 10 years. Likewise, power trade will be done with Bangladesh via India's transmission line. This is a historic success not only of Nepal's hydroelectricity sector but in terms of commitment to prosperity journey and campaign," the PM stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM also expressed confidence that an agreement to export Nepal's electricity to Bangladesh will be signed soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the PM shared that the government is effortful for promoting different programmes to increase power consumption in the domestic market besides the power export. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the government is considering to promote electric vehicles and appliances to reduce the import of petroleum products and to increase the domestic consumption of electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In his speech, the PM viewed electricity as the most important sector for the country's development and prosperity, and appreciated the role of the private sector in scaling up power production. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => 'energy, power, trade, Nepal, India, Bangladesh, hydropower, production, transmission, prosperity, government', 'description' => '', 'sortorder' => '20736', 'image' => '20240517115552_hydro.jpg', 'article_date' => '2024-05-17 11:54:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21008', 'article_category_id' => '1', 'title' => 'More than Average Rainfall Likely during this Monsoon: Met Department ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Department of Hydrology and Meteorology has predicted more than average rainfall during monsoon this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Department of Hydrology and Meteorology has predicted more than average rainfall during monsoon this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a recent programme organised by the National Monsoon Forum, the department's meteorologist Sudarsan Humagai said rainfall exceeding 35.4 to 55.4 per cent than average has been predicted in most parts of the country in the upcoming monsoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The north-west areas of Sudurpashim Province, the south-east areas of Bagamati, the central part of Madhesh and the central and mid-west parts of Koshi Province are likely to see more rain (35.4 per cent to 65.5 per cent) than average this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the western part of the Karnali, central part of Gandaki, and north-east part of Koshi are likely to witness rain more by 35-45 per cent than average. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minimum precipitation in most parts of the county is likely to be more than average by 35-65 percent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20735', 'image' => '20240517105935_sno.jpg', 'article_date' => '2024-05-17 10:57:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21007', 'article_category_id' => '1', 'title' => 'CNI and EU Officials Discuss Enhancing Bilateral Trade ', 'sub_title' => '', 'summary' => 'Kathmandu: The Confederation of Nepalese Industries (CNI) and European Union (EU) officials discussed bilateral trade and economic cooperation enhancement between Nepal and EU on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The Confederation of Nepalese Industries (CNI) and European Union (EU) officials discussed bilateral trade and economic cooperation enhancement between Nepal and EU on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office bearers of the CNI held discussion with Deputy Director General of the European Commission, Myriam Ferran, and the Ambassador of the European Union (EU) to Nepal, Veronique Lorenzo, on matters relating to strengthening of bilateral trade relations between the two sides and increasing the export capacity of Nepali products to the European market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the CNI, the discussion focused on graduation of Nepal from least developed to a developing country by 2026, the potential of Nepal's manufacturing and information technology sectors, and commercial benefits and economic development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, CNI President Rajesh Kumar Agarwal shed light on various aspects of the economic and commercial relations between Nepal and the European Union and shared about the areas of cooperation that the EU can provide for the economic development of Nepal in the future. He sought necessary support to re-operate direct air flights from Nepal to the European countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EU Ambassador to Nepal, Veronique, said that the European Union is committed to support Nepal in its journey of economic growth and development. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20734', 'image' => '20240517100822_blank eight by six.jpg', 'article_date' => '2024-05-17 10:07:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21006', 'article_category_id' => '1', 'title' => 'Over 177,000 Tourists Visit Annapurna Region in 10 Months', 'sub_title' => '', 'summary' => 'Pokhara: More than 177,182 foreign tourists visited the Annapurna Circuit, a popular trekking route in Gandaki Province, in the past 10 months, according to the Annapurna Conservation Area Project (ACAP).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Pokhara: More than 177,182 foreign tourists visited the Annapurna Circuit, a popular trekking route in Gandaki Province, in the past 10 months, according to the Annapurna Conservation Area Project (ACAP). The highest number of tourists visited the area during the month of Chaitra (mid-March to mid-April) when 35,265 visitors arrived in the region that covers five districts – Lamjung, Manang, Mustang, Myagdi and Kaski.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ACAP chief Dr Rabin Kadariya reported that 79,232 tourists came from South Asian countries, while 97,950 tourists arrived from other parts of the world during the review period. The months of September-October and April-May are considered the best times for trekking in the region.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although most Indian tourists visiting Muktinath and other sites in the Annapurna Circuit use the motorway, tourists from other countries prefer trekking, he told RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Domestic and foreign tourists throng the Annapurna area during the peak tourist season," said Dr. Kadariya. "Tourism in the area is returning to pre-COVID-19 levels. Recently, there has been a significant influx of tourists from various countries."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ACAP maintains records of foreign tourists visiting the Annapurna Circuit. Kadariya noted that the number of domestic tourists coming through the land route from Mustang and other places could not be ascertained.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Annapurna Circuit has become a favorite trekking route for tourists from many countries. In 2023, 191,558 tourists from 173 countries visited Annapurna, marking the highest number of tourists in a single year. In comparison, 181,000 tourists visited the area in 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Thousands of domestic and foreign tourists visit key sites such as Annapurna Base Camp, Mardi Himal, Lwang, Ghandruk village, Tilicho Lake, Thorangla Pass, Upper Mustang, Muktinath, Ghodepani of Myagdi, and Poonhil every year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Annapurna Circuit is renowned for its attractive locations, including mountains and glaciers, tourism-friendly infrastructure, favorable climate, and the hospitality services and facilities provided by the locals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Short, medium, and long treks to the Annapurna region can be undertaken through routes in Kaski, Lamjung, Manang, Mustang and Myagdi. The Annapurna Conservation Area, covering 7,600 square kilometers, spans 89 wards across 16 local units in the five districts. The Annapurna region is rich in natural beauty, biodiversity, mountainous life, and diverse culture. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-16', 'modified' => '2024-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '20733', 'image' => '20240516074933_20240102031942_20220508080527_Annapurna circuit (3).jpg', 'article_date' => '2024-05-16 19:48:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21005', 'article_category_id' => '1', 'title' => 'Production and Employment are Priorities of 16th Plan: NPC Vice Chair', 'sub_title' => '', 'summary' => 'Kathmandu: National Planning Commission (NPC) Vice Chairman Dr. Min Bahadur Shrestha has said that the 16th periodic plan has prioritized production and employment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: National Planning Commission (NPC) Vice Chairman Dr. Min Bahadur Shrestha has said that the 16th periodic plan has prioritized production and employment. The NPC officially unveiled the 16th plan on Wednesday. </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:"Arial","sans-serif"">Stating that there is a gap between the goals and the achievements of the 15th plan, Shrestha said that the main focus of the 16th plan is implementation. "The five-year tasks to be undertaken by every ministry are included in the plan. It has been prepared by engaging with more than 3,000 stakeholders. In this plan, the problems and challenges have been studied and researched in detail, and solutions have been drawn out," 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:"Arial","sans-serif"">He stated that the current economy's main problem is the lack of production and employment. "In the 16th Plan, production and economic growth have been given top priority," said Shrestha.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-16', 'modified' => '2024-05-16', 'keywords' => 'production, employment, plan, economy', 'description' => '', 'sortorder' => '20732', 'image' => '20240516082531_blank eight by six.jpg', 'article_date' => '2024-05-16 08:20:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '21021', 'article_category_id' => '1', 'title' => 'Price of Gold Hits Rs 140,900 per Tola ', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Federation of Nepal Gold and Silver Dealers' Associations, the price of hallmark gold has reached Rs 140,900. Hallmark gold was traded for Rs 139,300 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the price of standard gold has reached Rs 140,200 while it was traded for Rs 38,650 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the federation has fixed the price of silver at Rs 1910 per tola on Sunday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The price of gold has been rising steadily in the past few weeks. In the Nepali month of Chaitra (mid-March to mid-April), the price of gold has increased eleven times in the domestic market of Nepal. The federation fixes the price of gold and silver based on the price in the international market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Businessmen complain that the gold and silver jewelry business has decreased due to the continuous rise in the price of gold.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20748', 'image' => '20240519013650_gold newwww.jpg', 'article_date' => '2024-05-19 13:36:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21019', 'article_category_id' => '1', 'title' => 'Nepali Students in Kyrgyzstan Urged to Exercise Caution ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The request comes following reports of mob violence targeting foreign students in Bishkek, the capital of Kyrgyzstan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Embassy of Nepal in Islamabad, Pakistan has stated that the around 280 Nepalis living in and around Bishkek are reported to be safe. For any kind of information and support, the Embassy has requested to contract the Embassy's phone number +92512610321 (including WhatsApp) and email at eonislamabad@mofa.gov.np. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kyrgyz foreign ministry on Saturday assured that the situation was under control. </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"">“From the moment information about the incident was received, law enforcement agencies of the Kyrgyz Republic took prompt measures to detain persons involved in the event, both foreign citizens and citizens of the Kyrgyz Republic,” the Kyrgyz foreign ministry said in a statement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20746', 'image' => '20240519123533_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-19 12:35:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21018', 'article_category_id' => '1', 'title' => 'Political Parties Agree to Form Parliamentary Probe Committee to End Deadlock', 'sub_title' => '', 'summary' => 'The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress (NC) was demanding the formation of a parliamentary committee to probe the alleged misappropriations in the cooperatives sector by Deputy Prime Minister and Home Minister Ravi Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the ruling parties and opposition NC held at the Prime Minister's official residence in Baluwatar on Saturday decided to constitute the committee, NC's chief whip Ramesh Lekhak told the state-owned RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Lekhak, the ToR of the committee will be finalized on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that all the political parties have shared a common view on forming the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak termed the decision as an achievement and a positive move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs Padam Giri would coordinate the job of drafting the ToR of the committee and the leaders of all political parties will give a final touch, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak viewed that the House of Representatives (HoR) meeting summoned for Sunday would be held after the decision to form the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A series of discussions and meetings among the leaders were held on Saturday for the formation of the committee. </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 latest move is expected to end the political deadlock that has obstructed the parliamentary session as the government prepares to announce the budget. As per the constitutional provision, the government has to announce the budget for the upcoming fiscal year on May 28 this year. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20745', 'image' => '20240519112849_Parliament.jpg', 'article_date' => '2024-05-19 11:25:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21016', 'article_category_id' => '1', 'title' => 'Government Adopts Policy to Waive Income Tax and Provide Easy Loans to Startups', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. The 'National Startups Policy, 2080,' adopted and enforced by the Council of Ministers on May 2 specifies arrangements to provide waivers and facilities to the startups. In addition, it also has provisions to facilitate investment, ease policy and legal provisions, and assure commercial safety of startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new policy states that exemptions will be made for costs involved in the registration and renewal of enterprises, and registration of industrial properties. Entrepreneurs will receive facilities and concessions for seed money, human resource development, consultancy and technical assistance, concessional loans, and cash incentives on exports, states the new policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the startup policy, startup enterprises will receive an income tax waiver for up to 10 years after establishment. Additionally, arrangements will be made to provide loans at concessional rates from banks and financial institutions, which will be required to allocate a certain percentage of their loan portfolio to startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A separate fund will be established to promote new ideas and innovative enterprises, and subsidies will be provided for loans offered by banks and financial institutions to startups and innovations, the policy notes. -- RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20743', 'image' => '20240519111030_startup.jpg', 'article_date' => '2024-05-19 11:09:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21015', 'article_category_id' => '1', 'title' => 'Birgunj Dryport Customs Falls Short of Revenue Collection Target', 'sub_title' => '', 'summary' => ' Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 19: Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Customs Chief Ram Prasad Mainali stated that the decrease in imports due to the economic recession and the reduction in industrial production has impacted revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This customs office, located at a major entry point, collected 40.03 billion rupees from the beginning of the fiscal year (Saun) to the end of Baisakh. This amount is 60.72% of the total target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs had set a target of collecting 54.27 billion rupees for this period. For the current fiscal year, the total revenue target stands at 65.94 billion rupees, but customs officials claim they will not be able to exceed 70% of the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Raw materials for the iron industry, such as billets, and maize for animal feed are mainly imported via the dry port. The customs office reported a decline in imports of industrial raw materials and other consumables.</span></span></p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20742', 'image' => '20240519070146_collage (3).jpg', 'article_date' => '2024-05-19 07:00:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '21014', 'article_category_id' => '1', 'title' => 'Government to Ban Indian Spice Brands over Safety Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Hong Kong and Singapore last month banned products from Everest and MDH -- two brands popular in India and exported worldwide -- after tests detected the presence of ethylene oxide, according to media reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides its use as a pesticide, ethylene oxide is used to sterilise medical equipment and as a sterilising agent in spices to prevent illnesses caused by salmonella and E. Coli bacteria, added the news report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Regular exposure to the colourless and odourless compound increases the "risk of cancers of the white blood cells", according to the US Environmental Protection Agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Matina Joshi Vaidya, chief of Nepal's Department of Food Technology and Quality Control, told AFP that the government had also decided to halt the sale of the spice blends.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is an issue of public health," she said. "We have its banned import and sale from Thursday."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has banned four products -- three variants produced by MDH and one by Everest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We do not have the lab resources to run the tests in the country. The ban will be lifted when Indian authorities declare it safe," AFP quoted Vaidya as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Everest and MDH are India's top two spice brands with a market share of 16 and 10 percent respectively in 2022, according to consumer research monitor Statista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Both companies have put out statements denying their products pose a health hazard to consumers after the Singapore and Hong Kong import bans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We clarify and state unequivocally that these claims are untrue and lack any substantiating evidence," MDH said last month on social media platform X.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's food regulation agency has asked for state authorities to carry out random testing of spice products, broadcaster NDTV reported.</span></span></p> ', 'published' => true, 'created' => '2024-05-18', 'modified' => '2024-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '20741', 'image' => '20240518082036_masala.jpg', 'article_date' => '2024-05-18 08:19:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21013', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Risk Weightage of Vehicle Loan through Monetary Policy Review', 'sub_title' => '', 'summary' => 'Kathmandu: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. The Nepal Rastra Bank (NRB) has announced changes in the risk weightage of vehicle loans as part of the third-quarter review of the monetary policy for the current fiscal year 2023/24. The central bank has reduced the risk weightage on hire purchase loans provided by banks and financial institutions from 125 percent to 100 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the NRB has introduced a provision that allows for the extension of home purchase loans based on the Debt Service to Gross Income Ratio, increasing the limit from 50 percent to 70 percent, provided appropriate evidence is presented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In its review of the monetary policy, the NRB has also introduced a provision allowing banks and financial institutions to sell up to 20 percent of their primary capital in a single fiscal year from investments made in the mid-cap fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the loan loss provision requirement for loans classified as 'good loans' has been maintained at 1.20 percent, slightly reduced from the previous 1.25 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB indicated that the existing provisions related to the import and sale of silver would be reviewed. The flexibility outlined in the annual monetary policy has been maintained in this third-quarter review.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Based on the current internal and external economic conditions and outlook, the policy rate of 5.5 percent, the deposit collection rate under the interest rate corridor of 3.0 percent, and the bank rate of 7.0 percent have remained unchanged," the review states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB also mentioned that the provision of permanent deposit facilities would be reviewed as necessary to ensure the effectiveness of the interest rate corridor. Moreover, the central bank added that necessary facilitation would be provided to enable the use of additional instruments to further strengthen the capital base of banks and financial institutions.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20740', 'image' => '20240517074004_20231001020926_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-05-17 19:39:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21012', 'article_category_id' => '1', 'title' => 'Government Starts Implementing Public Investment Management Action Plan', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan prepared by the National Planning Commission to make public expenditure efficient and orderly has been implemented with the approval of the recent cabinet meeting.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has identified the problem of failure of government bodies in spending a significant portion (on average 30 to 40 percent) of the amount allocated through the annual budget and program for the development of public infrastructure.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan in which the problem has also been identified mentions, "Since the allocated amount could not be spent within the stipulated time, the project completion period is increasing compared to the initial estimate and the project cost is also increasing. There is a situation where the people are being deprived of using the service facilities on time."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yamlal Bhusal, the Acting Secretary of NPC, said that the action plan brought to increase the effectiveness of government spending will help to increase the effectiveness of investments in projects run by the government, public institutions and public-private investment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan mentions that the National Project Bank will be reformed in a phased manner. The project bank operation procedures will also be formulated. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the second goal is to organize the capital project portfolio through regular and transparent central monitoring. Under this section, the NPC will be made responsible for submitting quarterly and annual monitoring reports with detailed information about the project portfolio.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has also set targets to increase transparency in investment projects included in the budget and to prepare and implement guidelines for the regular maintenance of public infrastructure. The Ministry of Finance will be responsible for publishing detailed capital expenditure data at the sectoral and project levels, along with the annual budget, to show how investments from non-budgetary funds, public institutions, public-private partnerships, provincial and local levels, and development partners are being utilized.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In order to ensure effective and transparent monitoring of public procurement, the action plan has set goals such as improving the electronic public procurement system, improving the central monitoring and inspection of investment projects through public institutions and public-private partnerships, and making necessary arrangements to strengthen project management.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The main work to be done to achieve each of these goals and the agencies and officials responsible for the same have also been specified in the action plan. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Questions are often raised about the ineffectiveness of government spending. In the absence of integrated details of the projects operated by three levels of government, funds are allocated twice for the same project from more than one level of government or from different agencies of the same level of government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“After the implementation of this action plan, it is expected that there will be no budget allocation for projects or programs that have not been adequately prepared and are not financially and technically feasible,” said Acting Secretary Bhusal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20739', 'image' => '20240517012026_20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-17 13:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21011', 'article_category_id' => '1', 'title' => 'Informal Cross-Border Trade Thriving in South Asia: Experts', 'sub_title' => '', 'summary' => 'KATHMANDU: Experts say informal cross-border trade is thriving in South Asia due to the high cost of trade transaction using the formal channels.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">KATHMANDU: Experts say informal cross-border trade is thriving in South Asia due to the high cost of trade transaction using the formal channels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">The experts made such a remark during a workshop organized in Kathmandu on Thursday by South Asia Watch on Trade, Economics and Environment (SAWTEE) in partnership with the International Food Policy Research Institute (IFPRI) to disseminate the findings of their study that examined the dynamics of informal trade in agri-food commodities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Speaking at the workshop titled “Insights into Informal Cross-Border Trade in Agri-Food Commodities in South Asia,” the experts also pointed out that such informal exchanges offset the policies and become a source of ineffectiveness for domestic policies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Issuing a statement on Thursday, SAWTEE said that the workshop centered on the dynamics of informal trade in agri-food commodities between Nepal and India and India and Bangladesh, shedding light on the nuances of trade patterns, modes, and underlying drivers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dikshya Singh, programme coordinator at SAWTEE, highlighted in her presentation that evasion of tariffs and duties, variation in prices and bans on import and export serve as key drivers of informal trade. Singh said that informal trade is highly responsive to India’s ban on exports and price variations as the result of different production costs on the Nepali and the Indian sides and tariffs in the case of products such as rice and vegetables. The study found that prices of rice across the border markets could be as high as 20 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Informal trade of agri-food commodities, including inputs, has increased access to those products preventing shortages and spikes in prices but that undermined the productive capacity of Nepali goods and diminished their competitiveness, she pointed out.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">As per findings from the IFPRI study on informal trade in agricultural goods between Bangladesh and India, prominent items include edible oils, rice seeds, tea, fertilizer, soybean oil, and palm oil. The study reveals that this informal trade is dominated by a small group of traders forming an oligopoly. Moreover, the study indicates that large-scale informal trade is controlled by mafia-style syndicates with political backing.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dr Mamata Pradhan, IFPRI’s research coordinator, highlighted during her presentation the robust nexus between trade and finance, facilitated by the hundi system of informal international money transfers, which significantly bolsters informal trade between India and Bangladesh. She also mentioned that 80 percent of carriers in the informal trade are women as most of the border points have no women security personnel at the India-Bangladesh border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dr Posh Raj Pandey, chair emeritus of SAWTEE, highlighted that obstruction in the entry and exit of products, policy disruption at the domestic level and weak law enforcement at the border contribute to informal trade in Nepal. Dr Pandey emphasized the necessity of reducing trade transaction costs to mitigate informal trade, advocating for measures such as enhancing trade facilitation, improving border infrastructure, and minimizing tariff barriers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Anand Bagaria, managing director of Nimbus Holdings, stressed the importance of adopting a measured and proactive strategy towards policymaking in dealing with informal cross-border trade. Since we cannot influence our neighbouring countries’ policies, Nepal needs to be clear about what could be the right balance between inflation, government revenue and mitigating quality-related risks while adopting a corrective approach to deal with informal trade, he added. Bagaria also acknowledged the inherent challenges in halting informal trade at the household consumption level while highlighting the role of policy in regulating commercial consumption.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Drawing parallels with Africa, where central banks conduct surveys on informal trade, Dr Ramesh Sharma, senior economist, formerly with FAO, Rome, made a point on the potential role of the Nepal Rastra Bank and the National Statistics Office in measuring informal trade periodically. Dr Sharma highlighted the importance of leveraging existing resources while preparing Nepal’s food balance sheet. He further suggested that the Nepal Rastra Bank, along with the Ministry of Industry, Commerce, and Supplies and the Ministry of Agriculture and Livestock Development, could collaborate to facilitate trade and minimize informal trade practices.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Sabnam Shivakoti, joint secretary at the Ministry of Agriculture and Livestock Development, emphasized the significance of rules and regulations within the border control mechanism to address sanitary and phytosanitary issues in agri-food commodities. She said that such concerns should not pose obstacles, as the repercussions of neglecting them can be more costly as they are legitimate measures to ensure that harmful pests and diseases are prevented from entering our territories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Shivakoti also pointed out that cross-border trade that was done traditionally due to social ties across borders is not the same as the organized commercial informal trade that is happening now at a large scale that affects agriculture as well as industrial sectors as they have to compete with cheap imports. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">She cited the example of import restriction of dairy products that was announced in February 2024 to protect domestic farmers and the dairy industry but that led to formal imports being diverted to informal channels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">According to SAWTEE, participants of the workshop included policy makers, private sector representatives, representatives of farmers’ organizations, members of civil society and experts.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20738', 'image' => '20240517012115_phansidewa farmers.jpg', 'article_date' => '2024-05-17 12:52:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21010', 'article_category_id' => '1', 'title' => 'NATTA Gandaki Province to Promote Nepali Tourism in Chinese Cities ', 'sub_title' => '', 'summary' => 'Kathmandu: The Gandaki Province chapter of Nepal Association of Tour and Travel Agents (NATTA) has decided to conduct tourism promotion programmes in various cities of China for a week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The Gandaki Province chapter of Nepal Association of Tour and Travel Agents (NATTA) has decided to conduct tourism promotion programmes in various cities of China for a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NATTA's Gandaki Province Chair Hari Ram Adhikari informed at a press meet that a programme 'Pokhara-Nepal tourism promotion and sales mission in China' would be organized in various cities. A 16-member team left for China on Thursday for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 16-member team will also attend the Guangzhou international travel fair being organized by the Guangzhou city of China for three days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A documentary showcasing tourism activities in Pokhara will be screened in Beijing amidst a programme coordinated jointly by Nepal Tourism Board and Nepali Embassy in China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delegation will also distribute promotional materials on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Discussion will be held with businesspersons and their associations in a bid to create atmosphere conducive for conducting direct flights from Pokhara to Chinese cities. The delegation will inspect the economic and tourism developments in China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that the promotional programme would be helpful to bringing more Chinese tourists in Nepal. The NATTA informed that the number of tourists from China has doubled this year as compared to last year. In April this year, a total of 9,750 Chinese tourists visited Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the visit is further expected to foster collaboration between tourism entrepreneurs of both the countries. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20737', 'image' => '20240517122913_20230611044301_6.jpg', 'article_date' => '2024-05-17 12:28:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21009', 'article_category_id' => '1', 'title' => 'PM Urges Private Sector to Invest in Hydropower Projects Confidently', 'sub_title' => '', 'summary' => 'KATHMANDU: Prime Minister Pushpa Kamal Dahal has urged the private sector to invest in the country's hydropower sector with confidence in the context that the Government of Nepal has signed an agreement to export 10,000 megawatts of power to India in a decade. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Prime Minister Pushpa Kamal Dahal has urged the private sector to invest in the country's hydropower sector with confidence in the context that the Government of Nepal has signed an agreement to export 10,000 megawatts of power to India in a decade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the 22nd annual general assembly of Independent Power Producers' Association of Nepal (IPPAN) on Friday, the PM said the moment to export 10,000 megawatts of power will be a historical achievement for the country's journey to prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have signed a long-term agreement with neighbouring India for the export of 10,000 megawatts of electricity in 10 years. Likewise, power trade will be done with Bangladesh via India's transmission line. This is a historic success not only of Nepal's hydroelectricity sector but in terms of commitment to prosperity journey and campaign," the PM stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM also expressed confidence that an agreement to export Nepal's electricity to Bangladesh will be signed soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the PM shared that the government is effortful for promoting different programmes to increase power consumption in the domestic market besides the power export. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the government is considering to promote electric vehicles and appliances to reduce the import of petroleum products and to increase the domestic consumption of electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In his speech, the PM viewed electricity as the most important sector for the country's development and prosperity, and appreciated the role of the private sector in scaling up power production. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => 'energy, power, trade, Nepal, India, Bangladesh, hydropower, production, transmission, prosperity, government', 'description' => '', 'sortorder' => '20736', 'image' => '20240517115552_hydro.jpg', 'article_date' => '2024-05-17 11:54:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21008', 'article_category_id' => '1', 'title' => 'More than Average Rainfall Likely during this Monsoon: Met Department ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Department of Hydrology and Meteorology has predicted more than average rainfall during monsoon this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Department of Hydrology and Meteorology has predicted more than average rainfall during monsoon this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a recent programme organised by the National Monsoon Forum, the department's meteorologist Sudarsan Humagai said rainfall exceeding 35.4 to 55.4 per cent than average has been predicted in most parts of the country in the upcoming monsoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The north-west areas of Sudurpashim Province, the south-east areas of Bagamati, the central part of Madhesh and the central and mid-west parts of Koshi Province are likely to see more rain (35.4 per cent to 65.5 per cent) than average this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the western part of the Karnali, central part of Gandaki, and north-east part of Koshi are likely to witness rain more by 35-45 per cent than average. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minimum precipitation in most parts of the county is likely to be more than average by 35-65 percent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20735', 'image' => '20240517105935_sno.jpg', 'article_date' => '2024-05-17 10:57:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21007', 'article_category_id' => '1', 'title' => 'CNI and EU Officials Discuss Enhancing Bilateral Trade ', 'sub_title' => '', 'summary' => 'Kathmandu: The Confederation of Nepalese Industries (CNI) and European Union (EU) officials discussed bilateral trade and economic cooperation enhancement between Nepal and EU on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The Confederation of Nepalese Industries (CNI) and European Union (EU) officials discussed bilateral trade and economic cooperation enhancement between Nepal and EU on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office bearers of the CNI held discussion with Deputy Director General of the European Commission, Myriam Ferran, and the Ambassador of the European Union (EU) to Nepal, Veronique Lorenzo, on matters relating to strengthening of bilateral trade relations between the two sides and increasing the export capacity of Nepali products to the European market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the CNI, the discussion focused on graduation of Nepal from least developed to a developing country by 2026, the potential of Nepal's manufacturing and information technology sectors, and commercial benefits and economic development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, CNI President Rajesh Kumar Agarwal shed light on various aspects of the economic and commercial relations between Nepal and the European Union and shared about the areas of cooperation that the EU can provide for the economic development of Nepal in the future. He sought necessary support to re-operate direct air flights from Nepal to the European countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EU Ambassador to Nepal, Veronique, said that the European Union is committed to support Nepal in its journey of economic growth and development. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20734', 'image' => '20240517100822_blank eight by six.jpg', 'article_date' => '2024-05-17 10:07:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21006', 'article_category_id' => '1', 'title' => 'Over 177,000 Tourists Visit Annapurna Region in 10 Months', 'sub_title' => '', 'summary' => 'Pokhara: More than 177,182 foreign tourists visited the Annapurna Circuit, a popular trekking route in Gandaki Province, in the past 10 months, according to the Annapurna Conservation Area Project (ACAP).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Pokhara: More than 177,182 foreign tourists visited the Annapurna Circuit, a popular trekking route in Gandaki Province, in the past 10 months, according to the Annapurna Conservation Area Project (ACAP). The highest number of tourists visited the area during the month of Chaitra (mid-March to mid-April) when 35,265 visitors arrived in the region that covers five districts – Lamjung, Manang, Mustang, Myagdi and Kaski.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ACAP chief Dr Rabin Kadariya reported that 79,232 tourists came from South Asian countries, while 97,950 tourists arrived from other parts of the world during the review period. The months of September-October and April-May are considered the best times for trekking in the region.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although most Indian tourists visiting Muktinath and other sites in the Annapurna Circuit use the motorway, tourists from other countries prefer trekking, he told RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Domestic and foreign tourists throng the Annapurna area during the peak tourist season," said Dr. Kadariya. "Tourism in the area is returning to pre-COVID-19 levels. Recently, there has been a significant influx of tourists from various countries."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ACAP maintains records of foreign tourists visiting the Annapurna Circuit. Kadariya noted that the number of domestic tourists coming through the land route from Mustang and other places could not be ascertained.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Annapurna Circuit has become a favorite trekking route for tourists from many countries. In 2023, 191,558 tourists from 173 countries visited Annapurna, marking the highest number of tourists in a single year. In comparison, 181,000 tourists visited the area in 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Thousands of domestic and foreign tourists visit key sites such as Annapurna Base Camp, Mardi Himal, Lwang, Ghandruk village, Tilicho Lake, Thorangla Pass, Upper Mustang, Muktinath, Ghodepani of Myagdi, and Poonhil every year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Annapurna Circuit is renowned for its attractive locations, including mountains and glaciers, tourism-friendly infrastructure, favorable climate, and the hospitality services and facilities provided by the locals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Short, medium, and long treks to the Annapurna region can be undertaken through routes in Kaski, Lamjung, Manang, Mustang and Myagdi. The Annapurna Conservation Area, covering 7,600 square kilometers, spans 89 wards across 16 local units in the five districts. The Annapurna region is rich in natural beauty, biodiversity, mountainous life, and diverse culture. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-16', 'modified' => '2024-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '20733', 'image' => '20240516074933_20240102031942_20220508080527_Annapurna circuit (3).jpg', 'article_date' => '2024-05-16 19:48:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21005', 'article_category_id' => '1', 'title' => 'Production and Employment are Priorities of 16th Plan: NPC Vice Chair', 'sub_title' => '', 'summary' => 'Kathmandu: National Planning Commission (NPC) Vice Chairman Dr. Min Bahadur Shrestha has said that the 16th periodic plan has prioritized production and employment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: National Planning Commission (NPC) Vice Chairman Dr. Min Bahadur Shrestha has said that the 16th periodic plan has prioritized production and employment. The NPC officially unveiled the 16th plan on Wednesday. </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:"Arial","sans-serif"">Stating that there is a gap between the goals and the achievements of the 15th plan, Shrestha said that the main focus of the 16th plan is implementation. "The five-year tasks to be undertaken by every ministry are included in the plan. It has been prepared by engaging with more than 3,000 stakeholders. In this plan, the problems and challenges have been studied and researched in detail, and solutions have been drawn out," 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:"Arial","sans-serif"">He stated that the current economy's main problem is the lack of production and employment. "In the 16th Plan, production and economic growth have been given top priority," said Shrestha.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-16', 'modified' => '2024-05-16', 'keywords' => 'production, employment, plan, economy', 'description' => '', 'sortorder' => '20732', 'image' => '20240516082531_blank eight by six.jpg', 'article_date' => '2024-05-16 08:20:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '21021', 'article_category_id' => '1', 'title' => 'Price of Gold Hits Rs 140,900 per Tola ', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Federation of Nepal Gold and Silver Dealers' Associations, the price of hallmark gold has reached Rs 140,900. Hallmark gold was traded for Rs 139,300 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the price of standard gold has reached Rs 140,200 while it was traded for Rs 38,650 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the federation has fixed the price of silver at Rs 1910 per tola on Sunday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The price of gold has been rising steadily in the past few weeks. In the Nepali month of Chaitra (mid-March to mid-April), the price of gold has increased eleven times in the domestic market of Nepal. The federation fixes the price of gold and silver based on the price in the international market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Businessmen complain that the gold and silver jewelry business has decreased due to the continuous rise in the price of gold.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20748', 'image' => '20240519013650_gold newwww.jpg', 'article_date' => '2024-05-19 13:36:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21019', 'article_category_id' => '1', 'title' => 'Nepali Students in Kyrgyzstan Urged to Exercise Caution ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The request comes following reports of mob violence targeting foreign students in Bishkek, the capital of Kyrgyzstan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Embassy of Nepal in Islamabad, Pakistan has stated that the around 280 Nepalis living in and around Bishkek are reported to be safe. For any kind of information and support, the Embassy has requested to contract the Embassy's phone number +92512610321 (including WhatsApp) and email at eonislamabad@mofa.gov.np. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kyrgyz foreign ministry on Saturday assured that the situation was under control. </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"">“From the moment information about the incident was received, law enforcement agencies of the Kyrgyz Republic took prompt measures to detain persons involved in the event, both foreign citizens and citizens of the Kyrgyz Republic,” the Kyrgyz foreign ministry said in a statement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20746', 'image' => '20240519123533_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-19 12:35:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21018', 'article_category_id' => '1', 'title' => 'Political Parties Agree to Form Parliamentary Probe Committee to End Deadlock', 'sub_title' => '', 'summary' => 'The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress (NC) was demanding the formation of a parliamentary committee to probe the alleged misappropriations in the cooperatives sector by Deputy Prime Minister and Home Minister Ravi Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the ruling parties and opposition NC held at the Prime Minister's official residence in Baluwatar on Saturday decided to constitute the committee, NC's chief whip Ramesh Lekhak told the state-owned RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Lekhak, the ToR of the committee will be finalized on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that all the political parties have shared a common view on forming the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak termed the decision as an achievement and a positive move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs Padam Giri would coordinate the job of drafting the ToR of the committee and the leaders of all political parties will give a final touch, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak viewed that the House of Representatives (HoR) meeting summoned for Sunday would be held after the decision to form the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A series of discussions and meetings among the leaders were held on Saturday for the formation of the committee. </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 latest move is expected to end the political deadlock that has obstructed the parliamentary session as the government prepares to announce the budget. As per the constitutional provision, the government has to announce the budget for the upcoming fiscal year on May 28 this year. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20745', 'image' => '20240519112849_Parliament.jpg', 'article_date' => '2024-05-19 11:25:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21016', 'article_category_id' => '1', 'title' => 'Government Adopts Policy to Waive Income Tax and Provide Easy Loans to Startups', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. The 'National Startups Policy, 2080,' adopted and enforced by the Council of Ministers on May 2 specifies arrangements to provide waivers and facilities to the startups. In addition, it also has provisions to facilitate investment, ease policy and legal provisions, and assure commercial safety of startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new policy states that exemptions will be made for costs involved in the registration and renewal of enterprises, and registration of industrial properties. Entrepreneurs will receive facilities and concessions for seed money, human resource development, consultancy and technical assistance, concessional loans, and cash incentives on exports, states the new policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the startup policy, startup enterprises will receive an income tax waiver for up to 10 years after establishment. Additionally, arrangements will be made to provide loans at concessional rates from banks and financial institutions, which will be required to allocate a certain percentage of their loan portfolio to startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A separate fund will be established to promote new ideas and innovative enterprises, and subsidies will be provided for loans offered by banks and financial institutions to startups and innovations, the policy notes. -- RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20743', 'image' => '20240519111030_startup.jpg', 'article_date' => '2024-05-19 11:09:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21015', 'article_category_id' => '1', 'title' => 'Birgunj Dryport Customs Falls Short of Revenue Collection Target', 'sub_title' => '', 'summary' => ' Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 19: Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Customs Chief Ram Prasad Mainali stated that the decrease in imports due to the economic recession and the reduction in industrial production has impacted revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This customs office, located at a major entry point, collected 40.03 billion rupees from the beginning of the fiscal year (Saun) to the end of Baisakh. This amount is 60.72% of the total target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs had set a target of collecting 54.27 billion rupees for this period. For the current fiscal year, the total revenue target stands at 65.94 billion rupees, but customs officials claim they will not be able to exceed 70% of the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Raw materials for the iron industry, such as billets, and maize for animal feed are mainly imported via the dry port. The customs office reported a decline in imports of industrial raw materials and other consumables.</span></span></p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20742', 'image' => '20240519070146_collage (3).jpg', 'article_date' => '2024-05-19 07:00:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '21014', 'article_category_id' => '1', 'title' => 'Government to Ban Indian Spice Brands over Safety Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Hong Kong and Singapore last month banned products from Everest and MDH -- two brands popular in India and exported worldwide -- after tests detected the presence of ethylene oxide, according to media reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides its use as a pesticide, ethylene oxide is used to sterilise medical equipment and as a sterilising agent in spices to prevent illnesses caused by salmonella and E. Coli bacteria, added the news report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Regular exposure to the colourless and odourless compound increases the "risk of cancers of the white blood cells", according to the US Environmental Protection Agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Matina Joshi Vaidya, chief of Nepal's Department of Food Technology and Quality Control, told AFP that the government had also decided to halt the sale of the spice blends.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is an issue of public health," she said. "We have its banned import and sale from Thursday."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has banned four products -- three variants produced by MDH and one by Everest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We do not have the lab resources to run the tests in the country. The ban will be lifted when Indian authorities declare it safe," AFP quoted Vaidya as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Everest and MDH are India's top two spice brands with a market share of 16 and 10 percent respectively in 2022, according to consumer research monitor Statista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Both companies have put out statements denying their products pose a health hazard to consumers after the Singapore and Hong Kong import bans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We clarify and state unequivocally that these claims are untrue and lack any substantiating evidence," MDH said last month on social media platform X.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's food regulation agency has asked for state authorities to carry out random testing of spice products, broadcaster NDTV reported.</span></span></p> ', 'published' => true, 'created' => '2024-05-18', 'modified' => '2024-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '20741', 'image' => '20240518082036_masala.jpg', 'article_date' => '2024-05-18 08:19:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21013', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Risk Weightage of Vehicle Loan through Monetary Policy Review', 'sub_title' => '', 'summary' => 'Kathmandu: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. The Nepal Rastra Bank (NRB) has announced changes in the risk weightage of vehicle loans as part of the third-quarter review of the monetary policy for the current fiscal year 2023/24. The central bank has reduced the risk weightage on hire purchase loans provided by banks and financial institutions from 125 percent to 100 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the NRB has introduced a provision that allows for the extension of home purchase loans based on the Debt Service to Gross Income Ratio, increasing the limit from 50 percent to 70 percent, provided appropriate evidence is presented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In its review of the monetary policy, the NRB has also introduced a provision allowing banks and financial institutions to sell up to 20 percent of their primary capital in a single fiscal year from investments made in the mid-cap fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the loan loss provision requirement for loans classified as 'good loans' has been maintained at 1.20 percent, slightly reduced from the previous 1.25 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB indicated that the existing provisions related to the import and sale of silver would be reviewed. The flexibility outlined in the annual monetary policy has been maintained in this third-quarter review.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Based on the current internal and external economic conditions and outlook, the policy rate of 5.5 percent, the deposit collection rate under the interest rate corridor of 3.0 percent, and the bank rate of 7.0 percent have remained unchanged," the review states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB also mentioned that the provision of permanent deposit facilities would be reviewed as necessary to ensure the effectiveness of the interest rate corridor. Moreover, the central bank added that necessary facilitation would be provided to enable the use of additional instruments to further strengthen the capital base of banks and financial institutions.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20740', 'image' => '20240517074004_20231001020926_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-05-17 19:39:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21012', 'article_category_id' => '1', 'title' => 'Government Starts Implementing Public Investment Management Action Plan', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan prepared by the National Planning Commission to make public expenditure efficient and orderly has been implemented with the approval of the recent cabinet meeting.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has identified the problem of failure of government bodies in spending a significant portion (on average 30 to 40 percent) of the amount allocated through the annual budget and program for the development of public infrastructure.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan in which the problem has also been identified mentions, "Since the allocated amount could not be spent within the stipulated time, the project completion period is increasing compared to the initial estimate and the project cost is also increasing. There is a situation where the people are being deprived of using the service facilities on time."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yamlal Bhusal, the Acting Secretary of NPC, said that the action plan brought to increase the effectiveness of government spending will help to increase the effectiveness of investments in projects run by the government, public institutions and public-private investment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan mentions that the National Project Bank will be reformed in a phased manner. The project bank operation procedures will also be formulated. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the second goal is to organize the capital project portfolio through regular and transparent central monitoring. Under this section, the NPC will be made responsible for submitting quarterly and annual monitoring reports with detailed information about the project portfolio.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has also set targets to increase transparency in investment projects included in the budget and to prepare and implement guidelines for the regular maintenance of public infrastructure. The Ministry of Finance will be responsible for publishing detailed capital expenditure data at the sectoral and project levels, along with the annual budget, to show how investments from non-budgetary funds, public institutions, public-private partnerships, provincial and local levels, and development partners are being utilized.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In order to ensure effective and transparent monitoring of public procurement, the action plan has set goals such as improving the electronic public procurement system, improving the central monitoring and inspection of investment projects through public institutions and public-private partnerships, and making necessary arrangements to strengthen project management.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The main work to be done to achieve each of these goals and the agencies and officials responsible for the same have also been specified in the action plan. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Questions are often raised about the ineffectiveness of government spending. In the absence of integrated details of the projects operated by three levels of government, funds are allocated twice for the same project from more than one level of government or from different agencies of the same level of government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“After the implementation of this action plan, it is expected that there will be no budget allocation for projects or programs that have not been adequately prepared and are not financially and technically feasible,” said Acting Secretary Bhusal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20739', 'image' => '20240517012026_20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-17 13:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21011', 'article_category_id' => '1', 'title' => 'Informal Cross-Border Trade Thriving in South Asia: Experts', 'sub_title' => '', 'summary' => 'KATHMANDU: Experts say informal cross-border trade is thriving in South Asia due to the high cost of trade transaction using the formal channels.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">KATHMANDU: Experts say informal cross-border trade is thriving in South Asia due to the high cost of trade transaction using the formal channels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">The experts made such a remark during a workshop organized in Kathmandu on Thursday by South Asia Watch on Trade, Economics and Environment (SAWTEE) in partnership with the International Food Policy Research Institute (IFPRI) to disseminate the findings of their study that examined the dynamics of informal trade in agri-food commodities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Speaking at the workshop titled “Insights into Informal Cross-Border Trade in Agri-Food Commodities in South Asia,” the experts also pointed out that such informal exchanges offset the policies and become a source of ineffectiveness for domestic policies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Issuing a statement on Thursday, SAWTEE said that the workshop centered on the dynamics of informal trade in agri-food commodities between Nepal and India and India and Bangladesh, shedding light on the nuances of trade patterns, modes, and underlying drivers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dikshya Singh, programme coordinator at SAWTEE, highlighted in her presentation that evasion of tariffs and duties, variation in prices and bans on import and export serve as key drivers of informal trade. Singh said that informal trade is highly responsive to India’s ban on exports and price variations as the result of different production costs on the Nepali and the Indian sides and tariffs in the case of products such as rice and vegetables. The study found that prices of rice across the border markets could be as high as 20 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Informal trade of agri-food commodities, including inputs, has increased access to those products preventing shortages and spikes in prices but that undermined the productive capacity of Nepali goods and diminished their competitiveness, she pointed out.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">As per findings from the IFPRI study on informal trade in agricultural goods between Bangladesh and India, prominent items include edible oils, rice seeds, tea, fertilizer, soybean oil, and palm oil. The study reveals that this informal trade is dominated by a small group of traders forming an oligopoly. Moreover, the study indicates that large-scale informal trade is controlled by mafia-style syndicates with political backing.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dr Mamata Pradhan, IFPRI’s research coordinator, highlighted during her presentation the robust nexus between trade and finance, facilitated by the hundi system of informal international money transfers, which significantly bolsters informal trade between India and Bangladesh. She also mentioned that 80 percent of carriers in the informal trade are women as most of the border points have no women security personnel at the India-Bangladesh border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Dr Posh Raj Pandey, chair emeritus of SAWTEE, highlighted that obstruction in the entry and exit of products, policy disruption at the domestic level and weak law enforcement at the border contribute to informal trade in Nepal. Dr Pandey emphasized the necessity of reducing trade transaction costs to mitigate informal trade, advocating for measures such as enhancing trade facilitation, improving border infrastructure, and minimizing tariff barriers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Anand Bagaria, managing director of Nimbus Holdings, stressed the importance of adopting a measured and proactive strategy towards policymaking in dealing with informal cross-border trade. Since we cannot influence our neighbouring countries’ policies, Nepal needs to be clear about what could be the right balance between inflation, government revenue and mitigating quality-related risks while adopting a corrective approach to deal with informal trade, he added. Bagaria also acknowledged the inherent challenges in halting informal trade at the household consumption level while highlighting the role of policy in regulating commercial consumption.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Drawing parallels with Africa, where central banks conduct surveys on informal trade, Dr Ramesh Sharma, senior economist, formerly with FAO, Rome, made a point on the potential role of the Nepal Rastra Bank and the National Statistics Office in measuring informal trade periodically. Dr Sharma highlighted the importance of leveraging existing resources while preparing Nepal’s food balance sheet. He further suggested that the Nepal Rastra Bank, along with the Ministry of Industry, Commerce, and Supplies and the Ministry of Agriculture and Livestock Development, could collaborate to facilitate trade and minimize informal trade practices.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Sabnam Shivakoti, joint secretary at the Ministry of Agriculture and Livestock Development, emphasized the significance of rules and regulations within the border control mechanism to address sanitary and phytosanitary issues in agri-food commodities. She said that such concerns should not pose obstacles, as the repercussions of neglecting them can be more costly as they are legitimate measures to ensure that harmful pests and diseases are prevented from entering our territories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">Shivakoti also pointed out that cross-border trade that was done traditionally due to social ties across borders is not the same as the organized commercial informal trade that is happening now at a large scale that affects agriculture as well as industrial sectors as they have to compete with cheap imports. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">She cited the example of import restriction of dairy products that was announced in February 2024 to protect domestic farmers and the dairy industry but that led to formal imports being diverted to informal channels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt">According to SAWTEE, participants of the workshop included policy makers, private sector representatives, representatives of farmers’ organizations, members of civil society and experts.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20738', 'image' => '20240517012115_phansidewa farmers.jpg', 'article_date' => '2024-05-17 12:52:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21010', 'article_category_id' => '1', 'title' => 'NATTA Gandaki Province to Promote Nepali Tourism in Chinese Cities ', 'sub_title' => '', 'summary' => 'Kathmandu: The Gandaki Province chapter of Nepal Association of Tour and Travel Agents (NATTA) has decided to conduct tourism promotion programmes in various cities of China for a week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The Gandaki Province chapter of Nepal Association of Tour and Travel Agents (NATTA) has decided to conduct tourism promotion programmes in various cities of China for a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NATTA's Gandaki Province Chair Hari Ram Adhikari informed at a press meet that a programme 'Pokhara-Nepal tourism promotion and sales mission in China' would be organized in various cities. A 16-member team left for China on Thursday for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 16-member team will also attend the Guangzhou international travel fair being organized by the Guangzhou city of China for three days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A documentary showcasing tourism activities in Pokhara will be screened in Beijing amidst a programme coordinated jointly by Nepal Tourism Board and Nepali Embassy in China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delegation will also distribute promotional materials on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Discussion will be held with businesspersons and their associations in a bid to create atmosphere conducive for conducting direct flights from Pokhara to Chinese cities. The delegation will inspect the economic and tourism developments in China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that the promotional programme would be helpful to bringing more Chinese tourists in Nepal. The NATTA informed that the number of tourists from China has doubled this year as compared to last year. In April this year, a total of 9,750 Chinese tourists visited Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the visit is further expected to foster collaboration between tourism entrepreneurs of both the countries. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20737', 'image' => '20240517122913_20230611044301_6.jpg', 'article_date' => '2024-05-17 12:28:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21009', 'article_category_id' => '1', 'title' => 'PM Urges Private Sector to Invest in Hydropower Projects Confidently', 'sub_title' => '', 'summary' => 'KATHMANDU: Prime Minister Pushpa Kamal Dahal has urged the private sector to invest in the country's hydropower sector with confidence in the context that the Government of Nepal has signed an agreement to export 10,000 megawatts of power to India in a decade. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Prime Minister Pushpa Kamal Dahal has urged the private sector to invest in the country's hydropower sector with confidence in the context that the Government of Nepal has signed an agreement to export 10,000 megawatts of power to India in a decade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the 22nd annual general assembly of Independent Power Producers' Association of Nepal (IPPAN) on Friday, the PM said the moment to export 10,000 megawatts of power will be a historical achievement for the country's journey to prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have signed a long-term agreement with neighbouring India for the export of 10,000 megawatts of electricity in 10 years. Likewise, power trade will be done with Bangladesh via India's transmission line. This is a historic success not only of Nepal's hydroelectricity sector but in terms of commitment to prosperity journey and campaign," the PM stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM also expressed confidence that an agreement to export Nepal's electricity to Bangladesh will be signed soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the PM shared that the government is effortful for promoting different programmes to increase power consumption in the domestic market besides the power export. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the government is considering to promote electric vehicles and appliances to reduce the import of petroleum products and to increase the domestic consumption of electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In his speech, the PM viewed electricity as the most important sector for the country's development and prosperity, and appreciated the role of the private sector in scaling up power production. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => 'energy, power, trade, Nepal, India, Bangladesh, hydropower, production, transmission, prosperity, government', 'description' => '', 'sortorder' => '20736', 'image' => '20240517115552_hydro.jpg', 'article_date' => '2024-05-17 11:54:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21008', 'article_category_id' => '1', 'title' => 'More than Average Rainfall Likely during this Monsoon: Met Department ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Department of Hydrology and Meteorology has predicted more than average rainfall during monsoon this year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Department of Hydrology and Meteorology has predicted more than average rainfall during monsoon this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a recent programme organised by the National Monsoon Forum, the department's meteorologist Sudarsan Humagai said rainfall exceeding 35.4 to 55.4 per cent than average has been predicted in most parts of the country in the upcoming monsoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The north-west areas of Sudurpashim Province, the south-east areas of Bagamati, the central part of Madhesh and the central and mid-west parts of Koshi Province are likely to see more rain (35.4 per cent to 65.5 per cent) than average this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the western part of the Karnali, central part of Gandaki, and north-east part of Koshi are likely to witness rain more by 35-45 per cent than average. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minimum precipitation in most parts of the county is likely to be more than average by 35-65 percent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20735', 'image' => '20240517105935_sno.jpg', 'article_date' => '2024-05-17 10:57:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21007', 'article_category_id' => '1', 'title' => 'CNI and EU Officials Discuss Enhancing Bilateral Trade ', 'sub_title' => '', 'summary' => 'Kathmandu: The Confederation of Nepalese Industries (CNI) and European Union (EU) officials discussed bilateral trade and economic cooperation enhancement between Nepal and EU on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The Confederation of Nepalese Industries (CNI) and European Union (EU) officials discussed bilateral trade and economic cooperation enhancement between Nepal and EU on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office bearers of the CNI held discussion with Deputy Director General of the European Commission, Myriam Ferran, and the Ambassador of the European Union (EU) to Nepal, Veronique Lorenzo, on matters relating to strengthening of bilateral trade relations between the two sides and increasing the export capacity of Nepali products to the European market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the CNI, the discussion focused on graduation of Nepal from least developed to a developing country by 2026, the potential of Nepal's manufacturing and information technology sectors, and commercial benefits and economic development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, CNI President Rajesh Kumar Agarwal shed light on various aspects of the economic and commercial relations between Nepal and the European Union and shared about the areas of cooperation that the EU can provide for the economic development of Nepal in the future. He sought necessary support to re-operate direct air flights from Nepal to the European countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EU Ambassador to Nepal, Veronique, said that the European Union is committed to support Nepal in its journey of economic growth and development. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20734', 'image' => '20240517100822_blank eight by six.jpg', 'article_date' => '2024-05-17 10:07:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21006', 'article_category_id' => '1', 'title' => 'Over 177,000 Tourists Visit Annapurna Region in 10 Months', 'sub_title' => '', 'summary' => 'Pokhara: More than 177,182 foreign tourists visited the Annapurna Circuit, a popular trekking route in Gandaki Province, in the past 10 months, according to the Annapurna Conservation Area Project (ACAP).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Pokhara: More than 177,182 foreign tourists visited the Annapurna Circuit, a popular trekking route in Gandaki Province, in the past 10 months, according to the Annapurna Conservation Area Project (ACAP). The highest number of tourists visited the area during the month of Chaitra (mid-March to mid-April) when 35,265 visitors arrived in the region that covers five districts – Lamjung, Manang, Mustang, Myagdi and Kaski.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ACAP chief Dr Rabin Kadariya reported that 79,232 tourists came from South Asian countries, while 97,950 tourists arrived from other parts of the world during the review period. The months of September-October and April-May are considered the best times for trekking in the region.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although most Indian tourists visiting Muktinath and other sites in the Annapurna Circuit use the motorway, tourists from other countries prefer trekking, he told RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Domestic and foreign tourists throng the Annapurna area during the peak tourist season," said Dr. Kadariya. "Tourism in the area is returning to pre-COVID-19 levels. Recently, there has been a significant influx of tourists from various countries."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ACAP maintains records of foreign tourists visiting the Annapurna Circuit. Kadariya noted that the number of domestic tourists coming through the land route from Mustang and other places could not be ascertained.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Annapurna Circuit has become a favorite trekking route for tourists from many countries. In 2023, 191,558 tourists from 173 countries visited Annapurna, marking the highest number of tourists in a single year. In comparison, 181,000 tourists visited the area in 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Thousands of domestic and foreign tourists visit key sites such as Annapurna Base Camp, Mardi Himal, Lwang, Ghandruk village, Tilicho Lake, Thorangla Pass, Upper Mustang, Muktinath, Ghodepani of Myagdi, and Poonhil every year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Annapurna Circuit is renowned for its attractive locations, including mountains and glaciers, tourism-friendly infrastructure, favorable climate, and the hospitality services and facilities provided by the locals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Short, medium, and long treks to the Annapurna region can be undertaken through routes in Kaski, Lamjung, Manang, Mustang and Myagdi. The Annapurna Conservation Area, covering 7,600 square kilometers, spans 89 wards across 16 local units in the five districts. The Annapurna region is rich in natural beauty, biodiversity, mountainous life, and diverse culture. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-16', 'modified' => '2024-05-16', 'keywords' => '', 'description' => '', 'sortorder' => '20733', 'image' => '20240516074933_20240102031942_20220508080527_Annapurna circuit (3).jpg', 'article_date' => '2024-05-16 19:48:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21005', 'article_category_id' => '1', 'title' => 'Production and Employment are Priorities of 16th Plan: NPC Vice Chair', 'sub_title' => '', 'summary' => 'Kathmandu: National Planning Commission (NPC) Vice Chairman Dr. Min Bahadur Shrestha has said that the 16th periodic plan has prioritized production and employment. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: National Planning Commission (NPC) Vice Chairman Dr. Min Bahadur Shrestha has said that the 16th periodic plan has prioritized production and employment. The NPC officially unveiled the 16th plan on Wednesday. </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:"Arial","sans-serif"">Stating that there is a gap between the goals and the achievements of the 15th plan, Shrestha said that the main focus of the 16th plan is implementation. "The five-year tasks to be undertaken by every ministry are included in the plan. It has been prepared by engaging with more than 3,000 stakeholders. In this plan, the problems and challenges have been studied and researched in detail, and solutions have been drawn out," 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:"Arial","sans-serif"">He stated that the current economy's main problem is the lack of production and employment. "In the 16th Plan, production and economic growth have been given top priority," said Shrestha.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-16', 'modified' => '2024-05-16', 'keywords' => 'production, employment, plan, economy', 'description' => '', 'sortorder' => '20732', 'image' => '20240516082531_blank eight by six.jpg', 'article_date' => '2024-05-16 08:20:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
