The East-West Electric Railway project in Sarlahi district has seen construction of 90 percent of construction completed in the…
The East-West Electric Railway project in Sarlahi district has seen construction of 90 percent of construction completed in the…
Kathmandu: The European Union (EU) has pledged to help Nepal bring in…
The Kathmandu Valley Crime Investigation Office has arrested two persons along with Rs 9.8 million cash with undisclosed…
Mumbai: Air India's budget carrier subsidiary cancelled 74 flights on Thursday, a day after its operations were severely disrupted by dozens of cabin crew calling in sick at the last…
Kathmandu: Conservationists have condemned new regulations allowing operation of hydropower projects and hotels in protected areas, arguing they threatened to damage the habitats of tigers and other endangered…
Kathmandu: The Kathmandu District Court has issued arrest warrants against 20 individuals, including the then president of Nepal Children’s Organization (Bal Mandir) Rita Singh Baidya, on the charge of causing financial loss to the charitable organization by illegally leasing its land in Naxal, Kathmandu for 79 years at a throw-away…
Kathmandu: Finance Minister Barsha Man Pun has said that the government is preparing to include reformative and transformative plans and programmes in the upcoming fiscal year's the budget rather than adopting strict…
Kathmandu: Light rain accompanied by thunder, lightning, and winds is occurring in certain areas of the Koshi, Bagmati, and Gandaki provinces, with partial to general changes in weather conditions across the…
Kathmandu: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has been honored with the Corporate Excellence Award by the Association of Chartered Accountants of…
May 10: The budget session of the House of Representatives and National Assembly under the federal parliament is scheduled to take place from today (May 10)…
Nawalparasi: In a milestone achievement, MCA-Nepal has awarded and signed a contract with Linxon India Pvt. Ltd. for the construction of the 400 kV New Butwal Substation in Nawalparasi (Bardaghat Susta West) district in Lumbini…
Global IME Bank Limited has launched a comprehensive financial literacy program through its 169 branch offices. Under Corporate social responsibility, the bank has launched financial literacy programme targeting various groups of people outside financial…
May 9: The Government of Nepal has signed an agreement with Switzerland to implement the Trail-based Tourism Development Project (TTDP) in Koshi…
May 9: Globally acclaimed Hyundai cars are now going to be assembled in…
May 9: South Korea has decided to take Nepali workers to two more new areas in…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20946', 'article_category_id' => '1', 'title' => 'East-West Railway's 90% Work Completed in Sarlahi Section ', 'sub_title' => '', 'summary' => 'The East-West Electric Railway project in Sarlahi district has seen construction of 90 percent of construction completed in the area.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 12: The East-West Electric Railway project in Sarlahi district has seen construction of 90 percent of construction completed in the area. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Engineer Bhuwaneshwor Yadav, the project's information officer, reported that 90% construction work was accomplished within six years of the project's contract. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Sarlahi section spans 30 kilometers from Banke stream in the east to Bagmati River in the west, with the remaining track opening currently in progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Work to open track was stalled in some places after the Sagarmatha Forest Project and the Murtiya Forest Office did not clear trees reasoning that some farmers of Hariban municipality-5 refused to receive compensation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The progress of this section is therefore zilch. Engineer Yadav mentioned that the construction is snail-paced in recent period. According to Project Office, Lalbandi, the construction company is still to get payment for completed work. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-12', 'modified' => '2024-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '20673', 'image' => '20240512065711_collage.jpg', 'article_date' => '2024-05-12 06:53:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20943', 'article_category_id' => '1', 'title' => 'EU to Help Nepal bring Investment ', 'sub_title' => '', 'summary' => 'Kathmandu: The European Union (EU) has pledged to help Nepal bring in investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The European Union (EU) has pledged to help Nepal bring in investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EU Ambassador to Nepal Veronique Lorenzo informed that the 'EU-Nepal Trade Forum' is taking place in Kathmandu next week to bring European investment to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In her address to a reception organised on Thursday to mark the 50th anniversary of the establishment of diplomatic relations between Nepal and the European Union, Ambassador Lorenzo said that the second meeting of the forum would be held in Kathmandu on May 15-16 to address Nepal's foreign investment deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said companies from EU countries would participate in the meeting to discuss the potential areas of investment in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The EU Ambassador further said Nepal was moving ahead with the goal of upgrading from the list of least developed countries in 2026 and it was necessary to create economic development and employment opportunities for the same. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20671', 'image' => '20240510015610_Veronique_Lorenzo_EU3_sunilsharma_005.width-1024.jpg', 'article_date' => '2024-05-10 13:55:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20944', 'article_category_id' => '1', 'title' => 'Two Arrested with Rs 9.8 Million from Durbar Marg', 'sub_title' => '', 'summary' => 'The Kathmandu Valley Crime Investigation Office has arrested two persons along with Rs 9.8 million cash with undisclosed source.', 'content' => '<p><span style="font-size:20px">May 10: The Kathmandu Valley Crime Investigation Office has arrested two persons along with Rs 9.8 million cash with undisclosed source.</span></p> <p><span style="font-size:20px"> The arrested are Samir Sunar, 28, and Milan BK, 29, of Siyari rural municipality-7 in Rupandehi, said Chief of the Kathmandu Valley Crime Investigation Office, Senior Superintendent of Police Sanuram Bhattarai. </span></p> <p><span style="font-size:20px">At a news conference organised today, Bhattarai shared that both of them were arrested from Durbar Marg on Thursday. "As per our preliminary investigation, they were also found involved in Hundi (money transfer through unofficial channel) and gold smuggling," he mentioned. </span></p> <p><span style="font-size:20px">Police also impounded a car (Ba 13 Cha 4858) from them. Earlier, a warrant notice was issued against Milan BK on September 27, 2023 on the charge of his involvement in smuggling of 11.5 kg gold in Dolakha and had been absconding since then.</span></p> <p><span style="font-size:20px">As per the preliminary investigation, both of them were found involved in criminal activities for two years, added police. Samir and Milan would be sent at the District Police Range, Kathmandu, for further investigation. (RSS) </span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20670', 'image' => '20240510042258_collage (9).jpg', 'article_date' => '2024-05-10 16:21:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20942', 'article_category_id' => '1', 'title' => 'Air India Cancels 74 Budget Flights after Sick Leave Strike ', 'sub_title' => '', 'summary' => 'Mumbai: Air India's budget carrier subsidiary cancelled 74 flights on Thursday, a day after its operations were severely disrupted by dozens of cabin crew calling in sick at the last minute. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mumbai: Air India's budget carrier subsidiary cancelled 74 flights on Thursday, a day after its operations were severely disrupted by dozens of cabin crew calling in sick at the last minute. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The airline was taken over by Indian conglomerate Tata Group in 2022 after a government effort to privatise the heavily indebted carrier. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Media reports linked the sudden mass sick leave to simmering staff discontent over new policies on hiring and promotion imposed by its new ownership. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Air India Express said in a statement that it had made "every possible effort to minimise the inconvenience caused to our guests" but had been forced to cancel 74 flights on Thursday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">More than 90 other flights had been "disrupted" since Tuesday by the resulting staff shortages, the airline said in a separate statement on Wednesday, without clarifying whether they had been delayed or cancelled. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief executive Aloke Singh said Wednesday that the airline had been forced to curtail its flight schedules over the coming days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Since last evening, over 100 of our cabin crew colleagues have reported sick prior to their rostered flight duty, at the last minute, severely disrupting our operations," Singh said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This act is certainly not representative of the 2,000-odd cabin crew colleagues in the company who continue to respond to the call of duty." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Media reports said the budget carrier had sacked at least 20 staff. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An Air India Express spokesperson said Thursday that the airline had taken "appropriate steps against certain individuals", but did not provide further details. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We are taking appropriate steps against certain individuals as their actions have caused grave inconvenience to thousands of our guests," the spokesperson said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New Delhi airport saw chaotic scenes on Wednesday as agitated passengers waited for updates on delayed and cancelled flights, according to Indian media reports. – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20669', 'image' => '20240510015005_air-india-express-air-asia.jpg_18a606261ac_large.jpg', 'article_date' => '2024-05-10 13:49:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20941', 'article_category_id' => '1', 'title' => 'Push for Development ‘Threatens’ Nepal's Nature Conservation Efforts', 'sub_title' => '', 'summary' => 'Kathmandu: Conservationists have condemned new regulations allowing operation of hydropower projects and hotels in protected areas, arguing they threatened to damage the habitats of tigers and other endangered animals.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Conservationists have condemned new regulations allowing operation of hydropower projects and hotels in protected areas, arguing they threatened to damage the habitats of tigers and other endangered animals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a news report published by AFP, a fifth of Nepal’s total lands have been designated as protected areas established to forbid infrastructure projects that could damage the environment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been praised worldwide for combating poachers and conserving wildlife, allowing it to bring several animal species back from the brink of local extinction, the report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the government enacted an ordinance last month allowing it to approve infrastructure projects in national parks, forests and other conservation areas.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The number of endangered tigers and one-horned rhinos in the country have thrived because of these protected areas as they found a favourable environment," Rampreet Yadav, a wildlife conservationist, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This decision allowing construction of infrastructure will surely impact their habitat."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yadav, who is also the former chief conservation officer of Chitwan National Park, Nepal's most important conservation area, said the decision was driven by the "vested interests of political leaders".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We will have nothing to show and give our next generation," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's protected habitat laws have seen the country triple the local tiger population to 355 since 2010, while the number of one-horned rhinoceros also rose to 752 in 2021 from around a hundred in the 1960s, AFP reported, adding, “It also nearly doubled its forest cover between 1992 and 2016 after rampant logging.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has shown a strong commitment to enhancing its hydropower industry following a significant surge in dam construction since the beginning of the century, resulting in an installed capacity exceeding 3,300 megawatts. In January, Nepal inked a deal with India to export 10,000 megawatts of hydroelectricity over the next decade, to meet the energy demands of its power-hungry neighbor. In addition, Bangladesh is also keen to purchase clean energy from Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, tourism is also a major source of income for Nepal, which saw a million foreign visitors last year after a post-pandemic bounceback, and investments are being made in hotels and airports to cater to the needs of the travellers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Environment ministry spokesperson Badri Raj Dhungana told AFP that the new regulations had been introduced to bring a balance between environmental protection and development.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"They will not be constructed in very sensitive areas. We will need a work plan with proper mapping," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But according to AFP, Padma Bahadur Shrestha, a lawyer specialising in litigation aimed at nature protection, said the decision showed the government was set on casting aside environmental concerns in its rush for development.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It wants to destroy Nepal's biodiversity to make new infrastructure," AFP quoted Shrestha as saying.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20668', 'image' => '20240510014326_20220613011426_khaptad.jpg', 'article_date' => '2024-05-10 13:42:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20937', 'article_category_id' => '1', 'title' => 'Court Issues Arrest Warrants against 20 People in Bal Mandir Land Embezzlement Case', 'sub_title' => '', 'summary' => 'Kathmandu: The Kathmandu District Court has issued arrest warrants against 20 individuals, including the then president of Nepal Children’s Organization (Bal Mandir) Rita Singh Baidya, on the charge of causing financial loss to the charitable organization by illegally leasing its land in Naxal, Kathmandu for 79 years at a throw-away price.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Kathmandu: The Kathmandu District Court has issued arrest warrants against 20 individuals, including the then president of Nepal Children’s Organization (Bal Mandir) Rita Singh Baidya, on the charge of causing financial loss to the charitable organization by illegally leasing its land in Naxal, Kathmandu for 79 years at a throw-away price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The court issued the arrest warrant on Thursday upon the request of the Central Investigation Bureau (CIB) of the Nepal Police, which is investigating the matter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Baidya is the elder sister of Nepali Congress leader Prakashman Singh. She was the president of the children's organization from 2047 BS to 2077 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Baidhya, along with other officials of the child welfare organization have been accused of leasing the land of Bal Mandir to Vishal Group, a commercial organisation, in a way that would cause loss to the organization. Vishal Group is running a school named Brihaspati Vidya Sadan on that land of Bal Mandir. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The court has also issued arrest warrants against the school's principal, board members and shareholders.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">CIB Spokesperson Superintendent of Police (SP) Hobindra Bogti confirmed that the district court has issued arrest warrants to investigate alleged irregularities carried out by the accused including Baidhya, who was the president of the children's organization for about 27 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">"An investigation has been started against the accused on charges of fraud after a complaint was registered," SP Bogti told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The children's organization filed a complaint with the CIB on April 26 alleging that the contract with Brihaspati Vidya Sadan was illegal and demanded action against those involved. SP Bogti said that the CIB has started an investigation based on the same complaint.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Bal Mandir’s President Bidya Neupane accused the ex-officials of the welfare organisation of signing an agreement with Brihaspati Vidya Sadan to lease the land at a low price of Rs 900,000 per month effective until 2132 BS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Neupane accused that the ex-officials of Bal Mandir made financial gains in collusion with Brihaspati Vidya Sadan and business houses when they leased 29 ropanis and 5 annas of land owned by the children's organization.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">She said that the board meeting of the children's organization held on April 26 also decided to cancel the dubious contract.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Brihaspati Vidya Sadan signed the agreement with Bal Mandir and acquired the land and again gave it to Rai School on 'sub-lease'. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">According to the officers involved in the investigation, Nepal Children's Organization and Brihaspati Vidya Sadan signed the lease agreement on 2049 BS and then decided to set new rates in 2053 BS, 2058 BS, 2059 BS and 2072 BS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">In 2072 BS, the then president of Bal Mandir Rita Singh Baidhya was found to have signed a new agreement to extend the lease with the old agreement still in force. Neupane, the incumbent president of Bal Mandir, said that 17 years were still left in the old agreement when the new agreement was signed to extend the lease for another 43 years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">"It seems that an agreement has been reached for 79 years until 2132 BS," Neupane told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The current leadership of Bal Mandir has alleged that Rita Singh, the then president of Nepal Children's Organization, and Purushottam Raj Joshi of Brihaspati Vidya Sadan, entered into a supplementary agreement in 2072 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The Government of Nepal had provided 119 ropanis of land to Bal Mandir in 2021 BS after acquiring 'Sita Bhavan' in Naxal from the queen of then Rana Prime Minister Bhim Shumsher.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20666', 'image' => '20240510113427_14bf2240.jpeg', 'article_date' => '2024-05-10 11:33:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20939', 'article_category_id' => '1', 'title' => 'Government is Preparing to bring Transformational Budget: Finance Minister Pun ', 'sub_title' => '', 'summary' => 'Kathmandu: Finance Minister Barsha Man Pun has said that the government is preparing to include reformative and transformative plans and programmes in the upcoming fiscal year's the budget rather than adopting strict policies.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: Finance Minister Barsha Man Pun has said that the government is preparing to include reformative and transformative plans and programmes in the upcoming fiscal year's the budget rather than adopting strict policies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Addressing a pre-budget discussion programme organised by the Society of Economic Journalists-Nepal (SEJON) on Thursday, Finance Minister Pun said the government shall lift up the confidence of the private sector and adopt reformative and transformative policies in some sectors to improve the slowdown seen in the economy at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government received suggestions to adopt interventionist policies in order to improve the economy, but the government will not go to extremes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Some areas are in need of transformation and not just reform," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finance minister, the government is committed to protecting the investment, trade, business, and property of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The government is committed to synchronization between the fiscal policy and the monetary policy," Finance Minister Pun said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also maintained that a change in the tax rate to be made through the next fiscal year's budget would be done by justifying its need and appropriateness. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will not make changes to the tax rate under anyone's influence. The Economic Bill will have three columns specifying the reasons and justification for the change in the tax rate. We will clarify the reasons for the change in the tax rate,” he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also pledged to increase the government’s capital expenditure.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Although a double digit economic growth is not possible, we are hopeful of achieving an economic growth of 7.5 per cent," the Finance Minister said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal opined that the overall economy is in problem due to the slump in both market demand and supply. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the government has given a message of creating investment-friendly environment by changing the laws in a short time through ordinance. The FNCCI president suggested that the budget for the upcoming fiscal year should keep the demands and suggestions of the private sector in priority. He suggested to the government to also maintain uniformity and harmony between the budget and the monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal also suggested announcing the Investment Decade through the upcoming fiscal year's budget and to provide concessions to the industries creating a large number of jobs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the tax imposed on the merger and acquisition of banks and financial institutions has sent out a wrong message. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kamalesh Kumar Agrawal, President of the Nepal Chamber of Commerce, highlighted concerns regarding the national capital's development. He pointed out the challenge posed by the current negative growth rate in the production and construction sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He mentioned that the number of blacklisted entrepreneurs is increasing due to their failure to pay back the loan of the banks and financial institutions. He added that the economic slowdown resulted from the tight finances and monetary policy brought by the government after COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, President of the Confederation of Nepalese Industries, Rajesh Kumar Agrawal, said the private sector is focusing its attention on how to protect their investment rather than increasing investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"A point of view of looking at the private sector should be changed. National capital building is decreasing due to our contradictory policy," he said, pointing out the need of bringing budget with a focus on investment in infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He suggested that there was necessary of quality measuring and labeling of imported goods, and imposing two-level customs tax on raw materials and produced goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, President of Nepal Bankers' Association, Sunil KC, shared that the banking sector is currently in a difficult situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The banking sector has accumulated an investable amount of Rs 500 billion. But the loan investment will not increase until the morale of private sector is boosted. It is necessary to increase financial access of small and middle-scale enterprises rather than providing concession," he underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, President of the Independent Power Producers' Association, Nepal, Ganesh Karki stressed the effective implementation of the budget. He suggested taking the private sector on board in the electricity transmission line and power trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Confederation of Banks and Financial Institutions, Nepal (CBFIN) president Upendra Paudel suggested bringing foreign investment in the banking sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Registrar of Kathmandu University and economist Achyut Wagle said although all sides know about the status of the economy, they have not been able to carry out works towards resolving the economic issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Nepal Automobiles Association Nepal, Karan Chaudhary, said the automobiles sector is facing problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He explained, "Make in Nepal policy has not become effective, the state has not put the auto sector in priority saying it is unproductive sector." -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20665', 'image' => '20240510123143_bdcddd0c.jpeg', 'article_date' => '2024-05-10 12:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20936', 'article_category_id' => '1', 'title' => 'Rainfall Predicted in Hill Regions Today', 'sub_title' => '', 'summary' => 'Kathmandu: Light rain accompanied by thunder, lightning, and winds is occurring in certain areas of the Koshi, Bagmati, and Gandaki provinces, with partial to general changes in weather conditions across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Light rain accompanied by thunder, lightning, and winds is occurring in certain areas of the Koshi, Bagmati, and Gandaki provinces, with partial to general changes in weather conditions across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Hydrology and Meteorology informed that the influence of westerly winds, local wind patterns, and a low-pressure system formed in and around Bihar, India, has been affecting the country's weather.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The forecast predicts partly to generally cloudy skies in the hill regions of the country, including the Koshi and Lumbini provinces, with light rain likely in some areas, accompanied by thunder and lightning, particularly in the Koshi and Bagmati provinces this afternoon. There's also a possibility of light snowfall in some high hill and mountainous regions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Tonight, the weather in the hill regions, including Koshi Province, is expected to be partly to generally cloudy, with chances of light to moderate rainfall followed by thunder, lightning, and gusty winds in one or two places in the rest of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Over the next 24 hours, the department anticipates light rain with thunder and lightning in various parts of the hill regions, including the Koshi and Bagmati provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Considering the potential impact of light snowfall on daily life, including agriculture, health, tourism, mountaineering, and transportation in these regions, the department has advised people to remain alert.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20664', 'image' => '20240510103440_snowwwwwww.jpg', 'article_date' => '2024-05-10 10:33:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20938', 'article_category_id' => '1', 'title' => 'FNCCI President Dhakal Receives Corporate Excellence Award', 'sub_title' => '', 'summary' => 'Kathmandu: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has been honored with the Corporate Excellence Award by the Association of Chartered Accountants of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has been honored with the Corporate Excellence Award by the Association of Chartered Accountants of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">President Ram Chandra Poudel presented the award to Dhakal during a special event in the capital on Thursday.</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"">The Association commended Dhakal for his significant contributions to the country's economy, physical and human development, job creation, and social and economic progress.</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"">Starting from his upbringing in rural western Nepal, Dhakal has established a successful presence in sectors such as banking, investment, tourism, hydroelectricity, insurance, and social services.</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"">The Association acknowledged Dhakal's dedication, commitment, competence, and capacity, which have been recognized through this award.</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"">In the appreciation letter, it was stated, "Your achievements in fostering the nation's economy, development, and employment across various sectors underscore your dedication and competence. This award is a testament to your dedication."</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"">Expressing gratitude for the recognition, Dhakal mentioned that the honor has inspired him to embrace further responsibilities in the future.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20663', 'image' => '20240510120354_IMG-20240509-WA0008.jpg', 'article_date' => '2024-05-10 12:03:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20935', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament to Commence Today ', 'sub_title' => '', 'summary' => 'May 10: The budget session of the House of Representatives and National Assembly under the federal parliament is scheduled to take place from today (May 10) onwards. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 10: The budget session of the House of Representatives and National Assembly under the federal parliament is scheduled to take place from today (May 10) onwards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget session is all set to begin after President Ram Chandra Paudel on May 2 summoned the joint session of the federal parliament in accordance with the Article 93 (1) of the Constitution of Nepal upon the recommendation of the Council of Ministers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal parliament secretariat has already issued a notice requesting all members of the parliament for their presence in the session called for 2.00 pm today at New-Baneswor based International Conference Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the constitutional provision, an estimated details of income and expenditure (budget) for the upcoming year has to be presented in the parliament on May 28 (Jestha 15). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, the president will read out the government's annual policies and programmes in the joint sitting of both the Houses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to run the session effectively, Speaker Devraj Ghimire held discussions with top leaders of major political parties represented in the parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20662', 'image' => '20240510100245_budgetttttt.jpg', 'article_date' => '2024-05-10 10:01:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20934', 'article_category_id' => '1', 'title' => 'MCA-Nepal Signs Contract to Construct 400 kV New Butwal Substation at Nawalparasi', 'sub_title' => '', 'summary' => 'Nawalparasi: In a milestone achievement, MCA-Nepal has awarded and signed a contract with Linxon India Pvt. Ltd. for the construction of the 400 kV New Butwal Substation in Nawalparasi (Bardaghat Susta West) district in Lumbini Province.', '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"">Nawalparasi: In a milestone achievement, MCA-Nepal has awarded and signed a contract with Linxon India Pvt. Ltd. for the construction of the 400 kV New Butwal Substation in Nawalparasi (Bardaghat Susta West) district in Lumbini Province. </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"">The 400 kV Gas Insulated Switchgear (GIS) substation will be constructed within the contract duration of 39 months.</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"">Kulman Ghising, the Managing Director for Nepal Electricity Authority (NEA) and Dean R. Thompson, the U.S. Ambassador to Nepal, local authorities and elected representatives were also present at the signing ceremony in Bhumahi, Nawalparasi (Bardaghat Susta West) on Thursday. </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"">Speaking at the event, Ambassador Dean R. Thompson stated, “The U.S. Government is committed to working with the Government of Nepal to ensure that the compact delivers on Nepal’s energy needs. The 400 kV New Butwal Substation will improve Nepal’s transmission capacity contributing to reliable and affordable electricity for household consumption, expanded commercial and industrial enterprises and cross-border electricity trading.”</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"">NEA Managing Director Ghising said, “The 400 kV substation has been a priority for NEA and will supplement the existing 220 kV substation to significantly increase cross-border energy trade in the region.”</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"">During the event, MCA-Nepal Executive Director Khadga Bahadur Bisht highlighted the overall progress being made in the implementation of the MCC Nepal Compact, stating “MCA-Nepal is expediting all works for the construction of the transmission lines and substations under the Electricity Transmission Project. We are at the final stages of the procurement process to sign the contract for the construction of the remaining two substations as well.”</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"">Along with this substation, MCA-Nepal is constructing two other substations in Ratmate, Nuwakot district and Damauli, Tanahun district under the Electricity Transmission Project funded by the U.S. Government’s Millennium Challenge Corporation (MCC) and the Government of Nepal. The contractors for the remaining two substations are being selected. </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"">The MCA-Nepal Board, chaired by the Secretary at the Ministry of Finance, decided in its March board meeting to advance the 18 km Nepal portion of the New Butwal-Gorakhpur power transmission line to facilitate timely initiation of cross-border power trade as outlined in the agreement with India. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20661', 'image' => '20240510092757_IMG-20240509-WA0009.jpg', 'article_date' => '2024-05-10 09:27:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20933', 'article_category_id' => '1', 'title' => 'Global IME Bank Launches Financial Literacy Programme with Over 20,000 Participants', 'sub_title' => '', 'summary' => 'Global IME Bank Limited has launched a comprehensive financial literacy program through its 169 branch offices. Under Corporate social responsibility, the bank has launched financial literacy programme targeting various groups of people outside financial reach.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 10: Global IME Bank Limited has launched a comprehensive financial literacy program through its 169 branch offices. Under Corporate social responsibility, the bank has launched financial literacy programme targeting various groups of people outside financial reach. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">More than 20,000 farmers, small, micro, and cottage entrepreneurs, laborers, potential individuals seeking foreign employment, students, women, recipients of remittance, and local youths are participating in the programmes in all seven provinces. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">There was participation of more than 2,500 in Province 1, 2,000 in Madhes Province, 5,000 in Bagmati Province, 4,500 in Gandaki Province, 3,500 in Lumbini Province, 500 in Karnali Province, and more than 2,500 in Sudurpashchim Province.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Information related to savings, loans, remittances, digital banking, insurance, investment, additional banking services, financial fraud, and financial discipline is provided in the programmes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank is the first commercial bank in the private sector to have a network of branches in all 77 districts of the country. In addition to its 354 branch offices, the bank also has 379 ATMs, 277 branchless banking services, 68 extensions, revenue collection counters, and 3 foreign representative offices, totaling more than 1,100 service centers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank aims to become a bank for all, providing excellent services to more than 4.6 million customers through various service and facility plans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, by facilitating remittances from countries such as the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, India, Jordan, and Hong Kong, the bank is making a significant contribution to the country's economy.</span></span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20660', 'image' => '20240510083923_collage (77).jpg', 'article_date' => '2024-05-10 08:37:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20931', 'article_category_id' => '1', 'title' => 'Nepal and Switzerland Partner for Local Development through Sustainable Tourism in Koshi Province', 'sub_title' => '', 'summary' => 'May 9: The Government of Nepal has signed an agreement with Switzerland to implement the Trail-based Tourism Development Project (TTDP) in Koshi Province.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: The Government of Nepal has signed an agreement with Switzerland to implement the Trail-based Tourism Development Project (TTDP) in Koshi Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The TTDP aims to promote local economic development and sustainable tourism by enhancing culturally and historically important trails in the high hills of Koshi Province, reads a statement issued by the Swiss Embassy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shree Krishna Nepal, joint-secretary of the Ministry of Finance and Dr Danielle Meuwly, Swiss Ambassador to Nepal, inked the agreement on behalf of their respective governments on Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement Switzerland will contribute CHF 9.01 million (about Rs 1.26 billion), while the Government of Nepal will inject approximately CHF 1.3 million (about Rs 186 million) for trail improvement and promotion over the next four years. The Koshi Province government and local governments will also contribute to the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The project will be implemented by 29 local governments in collaboration with the Koshi Provincial government. It will involve the construction of around 400 km of trails and is expected to create approximately 2,000 local jobs in tourism-related businesses, reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, around half a million person-days of employment will be generated through cash-for-work during the trail construction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon completion, the trails are projected to attract approximately 80,000 visitors annually, including domestic tourists and visitors from the region. This influx of visitors is expected to stimulate economic growth and contribute to the preservation of local culture and heritage, reads a press release issued by the Embassy of Switzerland in Nepal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20658', 'image' => '20240509073316_771.20-12.02.27_240509_TTDP_4.jpg', 'article_date' => '2024-05-09 19:32:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20930', 'article_category_id' => '1', 'title' => 'Nepal to Officially Start Assembling Hyundai Four-Wheelers from Friday', 'sub_title' => '', 'summary' => 'May 9: Globally acclaimed Hyundai cars are now going to be assembled in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">May 9: Globally acclaimed Hyundai cars are now going to be assembled in Nepal. Laxmi Motor Corporation, which is the authorized distributor of Hyundai vehicles for Nepal, is all set to inaugurate an assembly plant in Nepal within this week.</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:"ekmukta","serif"">The plant is about to be inaugurated on the 50th anniversary of the establishment of diplomatic relations between the Republic of Korea and Nepal. Prime Minister Pushpa Kamal Dahal is scheduled to attend the inauguration of the assembly plant on Friday.</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:"ekmukta","serif"">Laxmi Motor Corporation, the official dealer of Hyundai vehicles for Nepal, is a subsidiary of Laxmi Group.</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:"ekmukta","serif"">The company has already established the plant in Nawalparasi and has been assembling Hyundai Venue SUVs in the testing phase since the last six months.</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:"ekmukta","serif"">With the success of the trial production, Hyundai brand Venue is about to go into commercial production at the assembly plant. As it will be assembled in Nepal, it is believed that the price range will also be cheaper.</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:"ekmukta","serif"">The company claimed this is the first time that a four-wheeler assembly plant has come into operation in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">However, a decade ago, Hulas Motors had produced the Mustang Max in Nepal. Since the plant was closed due to pollution standards, there isn’t any other four-wheeler assembly plant operating in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">Six years ago, the Korean company Motrex had announced to open a car assembly plant in Nepal but the work was not progressed. </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:"ekmukta","serif"">Speaking to New Business Age, South Korean Ambassador to Nepal, Park Tae-Young said that after a company like Hyundai starts an assembly plant in Nepal, other Korean companies will also be encouraged to follow suit.</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:"ekmukta","serif"">“Like Nepal, Korea also entered the world market of automobiles through assembly plants. Nepal can also produce its own cars in the near future," 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:"ekmukta","serif"">According to the company, they have started importing and assembling 998 cc Venue S (O), 1197 cc Venue S 1.2 MT and 1197 cc Venue SX 1.2 MT model CKDs at the plant.</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:"ekmukta","serif"">The assembled vehicles are all powered by petrol engine.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20657', 'image' => '20240509041950_kkkk.jpg', 'article_date' => '2024-05-09 16:19:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20929', 'article_category_id' => '1', 'title' => 'South Korea to Hire Nepali Workers in Service and Forestry Sectors', 'sub_title' => '', 'summary' => 'May 9: South Korea has decided to take Nepali workers to two more new areas in 2024.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: South Korea has decided to take Nepali workers to two more new areas in 2024. Small and medium-sized manufacturing companies of South Korea with less than 300 employees and agriculture and animal husbandry sectors are currently hiring Nepali workers under the Korean government’s Employment Permit System (EPS).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"From the end of this year, Nepalese workers will also get employment opportunities in the service and forestry sectors in Korea under EPS," South Korean Ambassador to Nepal Park Tae-Young said in a press conference held on Wednesday, adding, "The quota for this has also been determined." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Maiya Kandel, director of EPS branch, said that lthough Korea usually does not hire workers by changing sectors, it has accepted the request made by the Government of Nepal to send the aspiring workers to the service sector from among those on the roster of manufacturing industry and agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the service sector, Nepalis will be permitted to work in hotels, restaurants, cooking and cleaning. According to Kandel, the number of Nepalis to be taken by Korea under the service sector has not been determined. She said that South Korea is yet to place the demand for the forestry sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">South Korea is one of the most attractive destinations for Nepali workers due to the high wages and social security arrangements compared to other countries, although the work done by the workers going under the EPS is menial job. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the EPS system, South Korea has been taking workers from 16 countries including Nepal. Other countries are Indonesia, Mongolia, Sri Lanka, the Philippines, Thailand, Vietnam, Uzbekistan, Pakistan, Cambodia, China, Bangladesh, Kyrgyzstan, East Timor and Laos. Compared to other countries, Korean companies have hired a large number of Nepali workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In 2023, Korea set a quota for 120,000 foreign workers under the EPS system, under which 19,739 Nepalis were hired, according to the Human Resources Development Services of Korea. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A quota of 165,000 has been set for the year 2024. With the increase in the total quota of foreign workers, the quota that Nepal will get has also increased. According to the EPS branch, the total quota for Nepal in 2024 has increased by 13.2 percent. Kandel said that the annual quota is currently around 15,800.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali workers have been going to South Korea for employment after the governments of Nepal and South Korea signed a ministerial-level agreement in July 2007 to hire Nepali workers under the EPS system. Under this G2G process, Nepalis can go to Korea for employment. The private sector has no role in this process.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Human Resources Development Services of Korea, 99,900 Nepalis have reached there from Nepal under EPS so far. According to the Ministry of Foreign Affairs, there are currently around 40,000 Nepalis working in Korea. Most of them have gone under EPS. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20656', 'image' => '20240509035114_Untitled-1.jpg', 'article_date' => '2024-05-09 15:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20946', 'article_category_id' => '1', 'title' => 'East-West Railway's 90% Work Completed in Sarlahi Section ', 'sub_title' => '', 'summary' => 'The East-West Electric Railway project in Sarlahi district has seen construction of 90 percent of construction completed in the area.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 12: The East-West Electric Railway project in Sarlahi district has seen construction of 90 percent of construction completed in the area. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Engineer Bhuwaneshwor Yadav, the project's information officer, reported that 90% construction work was accomplished within six years of the project's contract. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Sarlahi section spans 30 kilometers from Banke stream in the east to Bagmati River in the west, with the remaining track opening currently in progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Work to open track was stalled in some places after the Sagarmatha Forest Project and the Murtiya Forest Office did not clear trees reasoning that some farmers of Hariban municipality-5 refused to receive compensation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The progress of this section is therefore zilch. Engineer Yadav mentioned that the construction is snail-paced in recent period. According to Project Office, Lalbandi, the construction company is still to get payment for completed work. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-12', 'modified' => '2024-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '20673', 'image' => '20240512065711_collage.jpg', 'article_date' => '2024-05-12 06:53:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20943', 'article_category_id' => '1', 'title' => 'EU to Help Nepal bring Investment ', 'sub_title' => '', 'summary' => 'Kathmandu: The European Union (EU) has pledged to help Nepal bring in investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The European Union (EU) has pledged to help Nepal bring in investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EU Ambassador to Nepal Veronique Lorenzo informed that the 'EU-Nepal Trade Forum' is taking place in Kathmandu next week to bring European investment to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In her address to a reception organised on Thursday to mark the 50th anniversary of the establishment of diplomatic relations between Nepal and the European Union, Ambassador Lorenzo said that the second meeting of the forum would be held in Kathmandu on May 15-16 to address Nepal's foreign investment deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said companies from EU countries would participate in the meeting to discuss the potential areas of investment in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The EU Ambassador further said Nepal was moving ahead with the goal of upgrading from the list of least developed countries in 2026 and it was necessary to create economic development and employment opportunities for the same. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20671', 'image' => '20240510015610_Veronique_Lorenzo_EU3_sunilsharma_005.width-1024.jpg', 'article_date' => '2024-05-10 13:55:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20944', 'article_category_id' => '1', 'title' => 'Two Arrested with Rs 9.8 Million from Durbar Marg', 'sub_title' => '', 'summary' => 'The Kathmandu Valley Crime Investigation Office has arrested two persons along with Rs 9.8 million cash with undisclosed source.', 'content' => '<p><span style="font-size:20px">May 10: The Kathmandu Valley Crime Investigation Office has arrested two persons along with Rs 9.8 million cash with undisclosed source.</span></p> <p><span style="font-size:20px"> The arrested are Samir Sunar, 28, and Milan BK, 29, of Siyari rural municipality-7 in Rupandehi, said Chief of the Kathmandu Valley Crime Investigation Office, Senior Superintendent of Police Sanuram Bhattarai. </span></p> <p><span style="font-size:20px">At a news conference organised today, Bhattarai shared that both of them were arrested from Durbar Marg on Thursday. "As per our preliminary investigation, they were also found involved in Hundi (money transfer through unofficial channel) and gold smuggling," he mentioned. </span></p> <p><span style="font-size:20px">Police also impounded a car (Ba 13 Cha 4858) from them. Earlier, a warrant notice was issued against Milan BK on September 27, 2023 on the charge of his involvement in smuggling of 11.5 kg gold in Dolakha and had been absconding since then.</span></p> <p><span style="font-size:20px">As per the preliminary investigation, both of them were found involved in criminal activities for two years, added police. Samir and Milan would be sent at the District Police Range, Kathmandu, for further investigation. (RSS) </span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20670', 'image' => '20240510042258_collage (9).jpg', 'article_date' => '2024-05-10 16:21:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20942', 'article_category_id' => '1', 'title' => 'Air India Cancels 74 Budget Flights after Sick Leave Strike ', 'sub_title' => '', 'summary' => 'Mumbai: Air India's budget carrier subsidiary cancelled 74 flights on Thursday, a day after its operations were severely disrupted by dozens of cabin crew calling in sick at the last minute. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mumbai: Air India's budget carrier subsidiary cancelled 74 flights on Thursday, a day after its operations were severely disrupted by dozens of cabin crew calling in sick at the last minute. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The airline was taken over by Indian conglomerate Tata Group in 2022 after a government effort to privatise the heavily indebted carrier. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Media reports linked the sudden mass sick leave to simmering staff discontent over new policies on hiring and promotion imposed by its new ownership. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Air India Express said in a statement that it had made "every possible effort to minimise the inconvenience caused to our guests" but had been forced to cancel 74 flights on Thursday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">More than 90 other flights had been "disrupted" since Tuesday by the resulting staff shortages, the airline said in a separate statement on Wednesday, without clarifying whether they had been delayed or cancelled. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief executive Aloke Singh said Wednesday that the airline had been forced to curtail its flight schedules over the coming days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Since last evening, over 100 of our cabin crew colleagues have reported sick prior to their rostered flight duty, at the last minute, severely disrupting our operations," Singh said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This act is certainly not representative of the 2,000-odd cabin crew colleagues in the company who continue to respond to the call of duty." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Media reports said the budget carrier had sacked at least 20 staff. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An Air India Express spokesperson said Thursday that the airline had taken "appropriate steps against certain individuals", but did not provide further details. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We are taking appropriate steps against certain individuals as their actions have caused grave inconvenience to thousands of our guests," the spokesperson said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New Delhi airport saw chaotic scenes on Wednesday as agitated passengers waited for updates on delayed and cancelled flights, according to Indian media reports. – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20669', 'image' => '20240510015005_air-india-express-air-asia.jpg_18a606261ac_large.jpg', 'article_date' => '2024-05-10 13:49:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20941', 'article_category_id' => '1', 'title' => 'Push for Development ‘Threatens’ Nepal's Nature Conservation Efforts', 'sub_title' => '', 'summary' => 'Kathmandu: Conservationists have condemned new regulations allowing operation of hydropower projects and hotels in protected areas, arguing they threatened to damage the habitats of tigers and other endangered animals.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Conservationists have condemned new regulations allowing operation of hydropower projects and hotels in protected areas, arguing they threatened to damage the habitats of tigers and other endangered animals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a news report published by AFP, a fifth of Nepal’s total lands have been designated as protected areas established to forbid infrastructure projects that could damage the environment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been praised worldwide for combating poachers and conserving wildlife, allowing it to bring several animal species back from the brink of local extinction, the report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the government enacted an ordinance last month allowing it to approve infrastructure projects in national parks, forests and other conservation areas.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The number of endangered tigers and one-horned rhinos in the country have thrived because of these protected areas as they found a favourable environment," Rampreet Yadav, a wildlife conservationist, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This decision allowing construction of infrastructure will surely impact their habitat."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yadav, who is also the former chief conservation officer of Chitwan National Park, Nepal's most important conservation area, said the decision was driven by the "vested interests of political leaders".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We will have nothing to show and give our next generation," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's protected habitat laws have seen the country triple the local tiger population to 355 since 2010, while the number of one-horned rhinoceros also rose to 752 in 2021 from around a hundred in the 1960s, AFP reported, adding, “It also nearly doubled its forest cover between 1992 and 2016 after rampant logging.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has shown a strong commitment to enhancing its hydropower industry following a significant surge in dam construction since the beginning of the century, resulting in an installed capacity exceeding 3,300 megawatts. In January, Nepal inked a deal with India to export 10,000 megawatts of hydroelectricity over the next decade, to meet the energy demands of its power-hungry neighbor. In addition, Bangladesh is also keen to purchase clean energy from Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, tourism is also a major source of income for Nepal, which saw a million foreign visitors last year after a post-pandemic bounceback, and investments are being made in hotels and airports to cater to the needs of the travellers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Environment ministry spokesperson Badri Raj Dhungana told AFP that the new regulations had been introduced to bring a balance between environmental protection and development.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"They will not be constructed in very sensitive areas. We will need a work plan with proper mapping," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But according to AFP, Padma Bahadur Shrestha, a lawyer specialising in litigation aimed at nature protection, said the decision showed the government was set on casting aside environmental concerns in its rush for development.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It wants to destroy Nepal's biodiversity to make new infrastructure," AFP quoted Shrestha as saying.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20668', 'image' => '20240510014326_20220613011426_khaptad.jpg', 'article_date' => '2024-05-10 13:42:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20937', 'article_category_id' => '1', 'title' => 'Court Issues Arrest Warrants against 20 People in Bal Mandir Land Embezzlement Case', 'sub_title' => '', 'summary' => 'Kathmandu: The Kathmandu District Court has issued arrest warrants against 20 individuals, including the then president of Nepal Children’s Organization (Bal Mandir) Rita Singh Baidya, on the charge of causing financial loss to the charitable organization by illegally leasing its land in Naxal, Kathmandu for 79 years at a throw-away price.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Kathmandu: The Kathmandu District Court has issued arrest warrants against 20 individuals, including the then president of Nepal Children’s Organization (Bal Mandir) Rita Singh Baidya, on the charge of causing financial loss to the charitable organization by illegally leasing its land in Naxal, Kathmandu for 79 years at a throw-away price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The court issued the arrest warrant on Thursday upon the request of the Central Investigation Bureau (CIB) of the Nepal Police, which is investigating the matter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Baidya is the elder sister of Nepali Congress leader Prakashman Singh. She was the president of the children's organization from 2047 BS to 2077 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Baidhya, along with other officials of the child welfare organization have been accused of leasing the land of Bal Mandir to Vishal Group, a commercial organisation, in a way that would cause loss to the organization. Vishal Group is running a school named Brihaspati Vidya Sadan on that land of Bal Mandir. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The court has also issued arrest warrants against the school's principal, board members and shareholders.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">CIB Spokesperson Superintendent of Police (SP) Hobindra Bogti confirmed that the district court has issued arrest warrants to investigate alleged irregularities carried out by the accused including Baidhya, who was the president of the children's organization for about 27 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">"An investigation has been started against the accused on charges of fraud after a complaint was registered," SP Bogti told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The children's organization filed a complaint with the CIB on April 26 alleging that the contract with Brihaspati Vidya Sadan was illegal and demanded action against those involved. SP Bogti said that the CIB has started an investigation based on the same complaint.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Bal Mandir’s President Bidya Neupane accused the ex-officials of the welfare organisation of signing an agreement with Brihaspati Vidya Sadan to lease the land at a low price of Rs 900,000 per month effective until 2132 BS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Neupane accused that the ex-officials of Bal Mandir made financial gains in collusion with Brihaspati Vidya Sadan and business houses when they leased 29 ropanis and 5 annas of land owned by the children's organization.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">She said that the board meeting of the children's organization held on April 26 also decided to cancel the dubious contract.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Brihaspati Vidya Sadan signed the agreement with Bal Mandir and acquired the land and again gave it to Rai School on 'sub-lease'. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">According to the officers involved in the investigation, Nepal Children's Organization and Brihaspati Vidya Sadan signed the lease agreement on 2049 BS and then decided to set new rates in 2053 BS, 2058 BS, 2059 BS and 2072 BS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">In 2072 BS, the then president of Bal Mandir Rita Singh Baidhya was found to have signed a new agreement to extend the lease with the old agreement still in force. Neupane, the incumbent president of Bal Mandir, said that 17 years were still left in the old agreement when the new agreement was signed to extend the lease for another 43 years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">"It seems that an agreement has been reached for 79 years until 2132 BS," Neupane told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The current leadership of Bal Mandir has alleged that Rita Singh, the then president of Nepal Children's Organization, and Purushottam Raj Joshi of Brihaspati Vidya Sadan, entered into a supplementary agreement in 2072 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The Government of Nepal had provided 119 ropanis of land to Bal Mandir in 2021 BS after acquiring 'Sita Bhavan' in Naxal from the queen of then Rana Prime Minister Bhim Shumsher.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20666', 'image' => '20240510113427_14bf2240.jpeg', 'article_date' => '2024-05-10 11:33:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20939', 'article_category_id' => '1', 'title' => 'Government is Preparing to bring Transformational Budget: Finance Minister Pun ', 'sub_title' => '', 'summary' => 'Kathmandu: Finance Minister Barsha Man Pun has said that the government is preparing to include reformative and transformative plans and programmes in the upcoming fiscal year's the budget rather than adopting strict policies.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: Finance Minister Barsha Man Pun has said that the government is preparing to include reformative and transformative plans and programmes in the upcoming fiscal year's the budget rather than adopting strict policies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Addressing a pre-budget discussion programme organised by the Society of Economic Journalists-Nepal (SEJON) on Thursday, Finance Minister Pun said the government shall lift up the confidence of the private sector and adopt reformative and transformative policies in some sectors to improve the slowdown seen in the economy at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government received suggestions to adopt interventionist policies in order to improve the economy, but the government will not go to extremes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Some areas are in need of transformation and not just reform," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finance minister, the government is committed to protecting the investment, trade, business, and property of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The government is committed to synchronization between the fiscal policy and the monetary policy," Finance Minister Pun said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also maintained that a change in the tax rate to be made through the next fiscal year's budget would be done by justifying its need and appropriateness. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will not make changes to the tax rate under anyone's influence. The Economic Bill will have three columns specifying the reasons and justification for the change in the tax rate. We will clarify the reasons for the change in the tax rate,” he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also pledged to increase the government’s capital expenditure.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Although a double digit economic growth is not possible, we are hopeful of achieving an economic growth of 7.5 per cent," the Finance Minister said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal opined that the overall economy is in problem due to the slump in both market demand and supply. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the government has given a message of creating investment-friendly environment by changing the laws in a short time through ordinance. The FNCCI president suggested that the budget for the upcoming fiscal year should keep the demands and suggestions of the private sector in priority. He suggested to the government to also maintain uniformity and harmony between the budget and the monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal also suggested announcing the Investment Decade through the upcoming fiscal year's budget and to provide concessions to the industries creating a large number of jobs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the tax imposed on the merger and acquisition of banks and financial institutions has sent out a wrong message. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kamalesh Kumar Agrawal, President of the Nepal Chamber of Commerce, highlighted concerns regarding the national capital's development. He pointed out the challenge posed by the current negative growth rate in the production and construction sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He mentioned that the number of blacklisted entrepreneurs is increasing due to their failure to pay back the loan of the banks and financial institutions. He added that the economic slowdown resulted from the tight finances and monetary policy brought by the government after COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, President of the Confederation of Nepalese Industries, Rajesh Kumar Agrawal, said the private sector is focusing its attention on how to protect their investment rather than increasing investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"A point of view of looking at the private sector should be changed. National capital building is decreasing due to our contradictory policy," he said, pointing out the need of bringing budget with a focus on investment in infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He suggested that there was necessary of quality measuring and labeling of imported goods, and imposing two-level customs tax on raw materials and produced goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, President of Nepal Bankers' Association, Sunil KC, shared that the banking sector is currently in a difficult situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The banking sector has accumulated an investable amount of Rs 500 billion. But the loan investment will not increase until the morale of private sector is boosted. It is necessary to increase financial access of small and middle-scale enterprises rather than providing concession," he underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, President of the Independent Power Producers' Association, Nepal, Ganesh Karki stressed the effective implementation of the budget. He suggested taking the private sector on board in the electricity transmission line and power trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Confederation of Banks and Financial Institutions, Nepal (CBFIN) president Upendra Paudel suggested bringing foreign investment in the banking sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Registrar of Kathmandu University and economist Achyut Wagle said although all sides know about the status of the economy, they have not been able to carry out works towards resolving the economic issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Nepal Automobiles Association Nepal, Karan Chaudhary, said the automobiles sector is facing problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He explained, "Make in Nepal policy has not become effective, the state has not put the auto sector in priority saying it is unproductive sector." -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20665', 'image' => '20240510123143_bdcddd0c.jpeg', 'article_date' => '2024-05-10 12:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20936', 'article_category_id' => '1', 'title' => 'Rainfall Predicted in Hill Regions Today', 'sub_title' => '', 'summary' => 'Kathmandu: Light rain accompanied by thunder, lightning, and winds is occurring in certain areas of the Koshi, Bagmati, and Gandaki provinces, with partial to general changes in weather conditions across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Light rain accompanied by thunder, lightning, and winds is occurring in certain areas of the Koshi, Bagmati, and Gandaki provinces, with partial to general changes in weather conditions across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Hydrology and Meteorology informed that the influence of westerly winds, local wind patterns, and a low-pressure system formed in and around Bihar, India, has been affecting the country's weather.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The forecast predicts partly to generally cloudy skies in the hill regions of the country, including the Koshi and Lumbini provinces, with light rain likely in some areas, accompanied by thunder and lightning, particularly in the Koshi and Bagmati provinces this afternoon. There's also a possibility of light snowfall in some high hill and mountainous regions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Tonight, the weather in the hill regions, including Koshi Province, is expected to be partly to generally cloudy, with chances of light to moderate rainfall followed by thunder, lightning, and gusty winds in one or two places in the rest of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Over the next 24 hours, the department anticipates light rain with thunder and lightning in various parts of the hill regions, including the Koshi and Bagmati provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Considering the potential impact of light snowfall on daily life, including agriculture, health, tourism, mountaineering, and transportation in these regions, the department has advised people to remain alert.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20664', 'image' => '20240510103440_snowwwwwww.jpg', 'article_date' => '2024-05-10 10:33:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20938', 'article_category_id' => '1', 'title' => 'FNCCI President Dhakal Receives Corporate Excellence Award', 'sub_title' => '', 'summary' => 'Kathmandu: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has been honored with the Corporate Excellence Award by the Association of Chartered Accountants of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has been honored with the Corporate Excellence Award by the Association of Chartered Accountants of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">President Ram Chandra Poudel presented the award to Dhakal during a special event in the capital on Thursday.</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"">The Association commended Dhakal for his significant contributions to the country's economy, physical and human development, job creation, and social and economic progress.</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"">Starting from his upbringing in rural western Nepal, Dhakal has established a successful presence in sectors such as banking, investment, tourism, hydroelectricity, insurance, and social services.</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"">The Association acknowledged Dhakal's dedication, commitment, competence, and capacity, which have been recognized through this award.</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"">In the appreciation letter, it was stated, "Your achievements in fostering the nation's economy, development, and employment across various sectors underscore your dedication and competence. This award is a testament to your dedication."</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"">Expressing gratitude for the recognition, Dhakal mentioned that the honor has inspired him to embrace further responsibilities in the future.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20663', 'image' => '20240510120354_IMG-20240509-WA0008.jpg', 'article_date' => '2024-05-10 12:03:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20935', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament to Commence Today ', 'sub_title' => '', 'summary' => 'May 10: The budget session of the House of Representatives and National Assembly under the federal parliament is scheduled to take place from today (May 10) onwards. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 10: The budget session of the House of Representatives and National Assembly under the federal parliament is scheduled to take place from today (May 10) onwards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget session is all set to begin after President Ram Chandra Paudel on May 2 summoned the joint session of the federal parliament in accordance with the Article 93 (1) of the Constitution of Nepal upon the recommendation of the Council of Ministers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal parliament secretariat has already issued a notice requesting all members of the parliament for their presence in the session called for 2.00 pm today at New-Baneswor based International Conference Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the constitutional provision, an estimated details of income and expenditure (budget) for the upcoming year has to be presented in the parliament on May 28 (Jestha 15). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, the president will read out the government's annual policies and programmes in the joint sitting of both the Houses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to run the session effectively, Speaker Devraj Ghimire held discussions with top leaders of major political parties represented in the parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20662', 'image' => '20240510100245_budgetttttt.jpg', 'article_date' => '2024-05-10 10:01:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20934', 'article_category_id' => '1', 'title' => 'MCA-Nepal Signs Contract to Construct 400 kV New Butwal Substation at Nawalparasi', 'sub_title' => '', 'summary' => 'Nawalparasi: In a milestone achievement, MCA-Nepal has awarded and signed a contract with Linxon India Pvt. Ltd. for the construction of the 400 kV New Butwal Substation in Nawalparasi (Bardaghat Susta West) district in Lumbini Province.', '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"">Nawalparasi: In a milestone achievement, MCA-Nepal has awarded and signed a contract with Linxon India Pvt. Ltd. for the construction of the 400 kV New Butwal Substation in Nawalparasi (Bardaghat Susta West) district in Lumbini Province. </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"">The 400 kV Gas Insulated Switchgear (GIS) substation will be constructed within the contract duration of 39 months.</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"">Kulman Ghising, the Managing Director for Nepal Electricity Authority (NEA) and Dean R. Thompson, the U.S. Ambassador to Nepal, local authorities and elected representatives were also present at the signing ceremony in Bhumahi, Nawalparasi (Bardaghat Susta West) on Thursday. </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"">Speaking at the event, Ambassador Dean R. Thompson stated, “The U.S. Government is committed to working with the Government of Nepal to ensure that the compact delivers on Nepal’s energy needs. The 400 kV New Butwal Substation will improve Nepal’s transmission capacity contributing to reliable and affordable electricity for household consumption, expanded commercial and industrial enterprises and cross-border electricity trading.”</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"">NEA Managing Director Ghising said, “The 400 kV substation has been a priority for NEA and will supplement the existing 220 kV substation to significantly increase cross-border energy trade in the region.”</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"">During the event, MCA-Nepal Executive Director Khadga Bahadur Bisht highlighted the overall progress being made in the implementation of the MCC Nepal Compact, stating “MCA-Nepal is expediting all works for the construction of the transmission lines and substations under the Electricity Transmission Project. We are at the final stages of the procurement process to sign the contract for the construction of the remaining two substations as well.”</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"">Along with this substation, MCA-Nepal is constructing two other substations in Ratmate, Nuwakot district and Damauli, Tanahun district under the Electricity Transmission Project funded by the U.S. Government’s Millennium Challenge Corporation (MCC) and the Government of Nepal. The contractors for the remaining two substations are being selected. </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"">The MCA-Nepal Board, chaired by the Secretary at the Ministry of Finance, decided in its March board meeting to advance the 18 km Nepal portion of the New Butwal-Gorakhpur power transmission line to facilitate timely initiation of cross-border power trade as outlined in the agreement with India. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20661', 'image' => '20240510092757_IMG-20240509-WA0009.jpg', 'article_date' => '2024-05-10 09:27:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20933', 'article_category_id' => '1', 'title' => 'Global IME Bank Launches Financial Literacy Programme with Over 20,000 Participants', 'sub_title' => '', 'summary' => 'Global IME Bank Limited has launched a comprehensive financial literacy program through its 169 branch offices. Under Corporate social responsibility, the bank has launched financial literacy programme targeting various groups of people outside financial reach.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 10: Global IME Bank Limited has launched a comprehensive financial literacy program through its 169 branch offices. Under Corporate social responsibility, the bank has launched financial literacy programme targeting various groups of people outside financial reach. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">More than 20,000 farmers, small, micro, and cottage entrepreneurs, laborers, potential individuals seeking foreign employment, students, women, recipients of remittance, and local youths are participating in the programmes in all seven provinces. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">There was participation of more than 2,500 in Province 1, 2,000 in Madhes Province, 5,000 in Bagmati Province, 4,500 in Gandaki Province, 3,500 in Lumbini Province, 500 in Karnali Province, and more than 2,500 in Sudurpashchim Province.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Information related to savings, loans, remittances, digital banking, insurance, investment, additional banking services, financial fraud, and financial discipline is provided in the programmes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank is the first commercial bank in the private sector to have a network of branches in all 77 districts of the country. In addition to its 354 branch offices, the bank also has 379 ATMs, 277 branchless banking services, 68 extensions, revenue collection counters, and 3 foreign representative offices, totaling more than 1,100 service centers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank aims to become a bank for all, providing excellent services to more than 4.6 million customers through various service and facility plans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, by facilitating remittances from countries such as the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, India, Jordan, and Hong Kong, the bank is making a significant contribution to the country's economy.</span></span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20660', 'image' => '20240510083923_collage (77).jpg', 'article_date' => '2024-05-10 08:37:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20931', 'article_category_id' => '1', 'title' => 'Nepal and Switzerland Partner for Local Development through Sustainable Tourism in Koshi Province', 'sub_title' => '', 'summary' => 'May 9: The Government of Nepal has signed an agreement with Switzerland to implement the Trail-based Tourism Development Project (TTDP) in Koshi Province.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: The Government of Nepal has signed an agreement with Switzerland to implement the Trail-based Tourism Development Project (TTDP) in Koshi Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The TTDP aims to promote local economic development and sustainable tourism by enhancing culturally and historically important trails in the high hills of Koshi Province, reads a statement issued by the Swiss Embassy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shree Krishna Nepal, joint-secretary of the Ministry of Finance and Dr Danielle Meuwly, Swiss Ambassador to Nepal, inked the agreement on behalf of their respective governments on Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement Switzerland will contribute CHF 9.01 million (about Rs 1.26 billion), while the Government of Nepal will inject approximately CHF 1.3 million (about Rs 186 million) for trail improvement and promotion over the next four years. The Koshi Province government and local governments will also contribute to the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The project will be implemented by 29 local governments in collaboration with the Koshi Provincial government. It will involve the construction of around 400 km of trails and is expected to create approximately 2,000 local jobs in tourism-related businesses, reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, around half a million person-days of employment will be generated through cash-for-work during the trail construction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon completion, the trails are projected to attract approximately 80,000 visitors annually, including domestic tourists and visitors from the region. This influx of visitors is expected to stimulate economic growth and contribute to the preservation of local culture and heritage, reads a press release issued by the Embassy of Switzerland in Nepal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20658', 'image' => '20240509073316_771.20-12.02.27_240509_TTDP_4.jpg', 'article_date' => '2024-05-09 19:32:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20930', 'article_category_id' => '1', 'title' => 'Nepal to Officially Start Assembling Hyundai Four-Wheelers from Friday', 'sub_title' => '', 'summary' => 'May 9: Globally acclaimed Hyundai cars are now going to be assembled in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">May 9: Globally acclaimed Hyundai cars are now going to be assembled in Nepal. Laxmi Motor Corporation, which is the authorized distributor of Hyundai vehicles for Nepal, is all set to inaugurate an assembly plant in Nepal within this week.</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:"ekmukta","serif"">The plant is about to be inaugurated on the 50th anniversary of the establishment of diplomatic relations between the Republic of Korea and Nepal. Prime Minister Pushpa Kamal Dahal is scheduled to attend the inauguration of the assembly plant on Friday.</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:"ekmukta","serif"">Laxmi Motor Corporation, the official dealer of Hyundai vehicles for Nepal, is a subsidiary of Laxmi Group.</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:"ekmukta","serif"">The company has already established the plant in Nawalparasi and has been assembling Hyundai Venue SUVs in the testing phase since the last six months.</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:"ekmukta","serif"">With the success of the trial production, Hyundai brand Venue is about to go into commercial production at the assembly plant. As it will be assembled in Nepal, it is believed that the price range will also be cheaper.</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:"ekmukta","serif"">The company claimed this is the first time that a four-wheeler assembly plant has come into operation in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">However, a decade ago, Hulas Motors had produced the Mustang Max in Nepal. Since the plant was closed due to pollution standards, there isn’t any other four-wheeler assembly plant operating in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">Six years ago, the Korean company Motrex had announced to open a car assembly plant in Nepal but the work was not progressed. </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:"ekmukta","serif"">Speaking to New Business Age, South Korean Ambassador to Nepal, Park Tae-Young said that after a company like Hyundai starts an assembly plant in Nepal, other Korean companies will also be encouraged to follow suit.</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:"ekmukta","serif"">“Like Nepal, Korea also entered the world market of automobiles through assembly plants. Nepal can also produce its own cars in the near future," 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:"ekmukta","serif"">According to the company, they have started importing and assembling 998 cc Venue S (O), 1197 cc Venue S 1.2 MT and 1197 cc Venue SX 1.2 MT model CKDs at the plant.</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:"ekmukta","serif"">The assembled vehicles are all powered by petrol engine.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20657', 'image' => '20240509041950_kkkk.jpg', 'article_date' => '2024-05-09 16:19:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20929', 'article_category_id' => '1', 'title' => 'South Korea to Hire Nepali Workers in Service and Forestry Sectors', 'sub_title' => '', 'summary' => 'May 9: South Korea has decided to take Nepali workers to two more new areas in 2024.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: South Korea has decided to take Nepali workers to two more new areas in 2024. Small and medium-sized manufacturing companies of South Korea with less than 300 employees and agriculture and animal husbandry sectors are currently hiring Nepali workers under the Korean government’s Employment Permit System (EPS).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"From the end of this year, Nepalese workers will also get employment opportunities in the service and forestry sectors in Korea under EPS," South Korean Ambassador to Nepal Park Tae-Young said in a press conference held on Wednesday, adding, "The quota for this has also been determined." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Maiya Kandel, director of EPS branch, said that lthough Korea usually does not hire workers by changing sectors, it has accepted the request made by the Government of Nepal to send the aspiring workers to the service sector from among those on the roster of manufacturing industry and agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the service sector, Nepalis will be permitted to work in hotels, restaurants, cooking and cleaning. According to Kandel, the number of Nepalis to be taken by Korea under the service sector has not been determined. She said that South Korea is yet to place the demand for the forestry sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">South Korea is one of the most attractive destinations for Nepali workers due to the high wages and social security arrangements compared to other countries, although the work done by the workers going under the EPS is menial job. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the EPS system, South Korea has been taking workers from 16 countries including Nepal. Other countries are Indonesia, Mongolia, Sri Lanka, the Philippines, Thailand, Vietnam, Uzbekistan, Pakistan, Cambodia, China, Bangladesh, Kyrgyzstan, East Timor and Laos. Compared to other countries, Korean companies have hired a large number of Nepali workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In 2023, Korea set a quota for 120,000 foreign workers under the EPS system, under which 19,739 Nepalis were hired, according to the Human Resources Development Services of Korea. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A quota of 165,000 has been set for the year 2024. With the increase in the total quota of foreign workers, the quota that Nepal will get has also increased. According to the EPS branch, the total quota for Nepal in 2024 has increased by 13.2 percent. Kandel said that the annual quota is currently around 15,800.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali workers have been going to South Korea for employment after the governments of Nepal and South Korea signed a ministerial-level agreement in July 2007 to hire Nepali workers under the EPS system. Under this G2G process, Nepalis can go to Korea for employment. The private sector has no role in this process.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Human Resources Development Services of Korea, 99,900 Nepalis have reached there from Nepal under EPS so far. According to the Ministry of Foreign Affairs, there are currently around 40,000 Nepalis working in Korea. Most of them have gone under EPS. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20656', 'image' => '20240509035114_Untitled-1.jpg', 'article_date' => '2024-05-09 15:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20946', 'article_category_id' => '1', 'title' => 'East-West Railway's 90% Work Completed in Sarlahi Section ', 'sub_title' => '', 'summary' => 'The East-West Electric Railway project in Sarlahi district has seen construction of 90 percent of construction completed in the area.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 12: The East-West Electric Railway project in Sarlahi district has seen construction of 90 percent of construction completed in the area. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Engineer Bhuwaneshwor Yadav, the project's information officer, reported that 90% construction work was accomplished within six years of the project's contract. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Sarlahi section spans 30 kilometers from Banke stream in the east to Bagmati River in the west, with the remaining track opening currently in progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Work to open track was stalled in some places after the Sagarmatha Forest Project and the Murtiya Forest Office did not clear trees reasoning that some farmers of Hariban municipality-5 refused to receive compensation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The progress of this section is therefore zilch. Engineer Yadav mentioned that the construction is snail-paced in recent period. According to Project Office, Lalbandi, the construction company is still to get payment for completed work. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-12', 'modified' => '2024-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '20673', 'image' => '20240512065711_collage.jpg', 'article_date' => '2024-05-12 06:53:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20943', 'article_category_id' => '1', 'title' => 'EU to Help Nepal bring Investment ', 'sub_title' => '', 'summary' => 'Kathmandu: The European Union (EU) has pledged to help Nepal bring in investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The European Union (EU) has pledged to help Nepal bring in investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EU Ambassador to Nepal Veronique Lorenzo informed that the 'EU-Nepal Trade Forum' is taking place in Kathmandu next week to bring European investment to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In her address to a reception organised on Thursday to mark the 50th anniversary of the establishment of diplomatic relations between Nepal and the European Union, Ambassador Lorenzo said that the second meeting of the forum would be held in Kathmandu on May 15-16 to address Nepal's foreign investment deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said companies from EU countries would participate in the meeting to discuss the potential areas of investment in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The EU Ambassador further said Nepal was moving ahead with the goal of upgrading from the list of least developed countries in 2026 and it was necessary to create economic development and employment opportunities for the same. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20671', 'image' => '20240510015610_Veronique_Lorenzo_EU3_sunilsharma_005.width-1024.jpg', 'article_date' => '2024-05-10 13:55:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20944', 'article_category_id' => '1', 'title' => 'Two Arrested with Rs 9.8 Million from Durbar Marg', 'sub_title' => '', 'summary' => 'The Kathmandu Valley Crime Investigation Office has arrested two persons along with Rs 9.8 million cash with undisclosed source.', 'content' => '<p><span style="font-size:20px">May 10: The Kathmandu Valley Crime Investigation Office has arrested two persons along with Rs 9.8 million cash with undisclosed source.</span></p> <p><span style="font-size:20px"> The arrested are Samir Sunar, 28, and Milan BK, 29, of Siyari rural municipality-7 in Rupandehi, said Chief of the Kathmandu Valley Crime Investigation Office, Senior Superintendent of Police Sanuram Bhattarai. </span></p> <p><span style="font-size:20px">At a news conference organised today, Bhattarai shared that both of them were arrested from Durbar Marg on Thursday. "As per our preliminary investigation, they were also found involved in Hundi (money transfer through unofficial channel) and gold smuggling," he mentioned. </span></p> <p><span style="font-size:20px">Police also impounded a car (Ba 13 Cha 4858) from them. Earlier, a warrant notice was issued against Milan BK on September 27, 2023 on the charge of his involvement in smuggling of 11.5 kg gold in Dolakha and had been absconding since then.</span></p> <p><span style="font-size:20px">As per the preliminary investigation, both of them were found involved in criminal activities for two years, added police. Samir and Milan would be sent at the District Police Range, Kathmandu, for further investigation. (RSS) </span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20670', 'image' => '20240510042258_collage (9).jpg', 'article_date' => '2024-05-10 16:21:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20942', 'article_category_id' => '1', 'title' => 'Air India Cancels 74 Budget Flights after Sick Leave Strike ', 'sub_title' => '', 'summary' => 'Mumbai: Air India's budget carrier subsidiary cancelled 74 flights on Thursday, a day after its operations were severely disrupted by dozens of cabin crew calling in sick at the last minute. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mumbai: Air India's budget carrier subsidiary cancelled 74 flights on Thursday, a day after its operations were severely disrupted by dozens of cabin crew calling in sick at the last minute. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The airline was taken over by Indian conglomerate Tata Group in 2022 after a government effort to privatise the heavily indebted carrier. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Media reports linked the sudden mass sick leave to simmering staff discontent over new policies on hiring and promotion imposed by its new ownership. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Air India Express said in a statement that it had made "every possible effort to minimise the inconvenience caused to our guests" but had been forced to cancel 74 flights on Thursday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">More than 90 other flights had been "disrupted" since Tuesday by the resulting staff shortages, the airline said in a separate statement on Wednesday, without clarifying whether they had been delayed or cancelled. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief executive Aloke Singh said Wednesday that the airline had been forced to curtail its flight schedules over the coming days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Since last evening, over 100 of our cabin crew colleagues have reported sick prior to their rostered flight duty, at the last minute, severely disrupting our operations," Singh said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This act is certainly not representative of the 2,000-odd cabin crew colleagues in the company who continue to respond to the call of duty." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Media reports said the budget carrier had sacked at least 20 staff. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An Air India Express spokesperson said Thursday that the airline had taken "appropriate steps against certain individuals", but did not provide further details. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We are taking appropriate steps against certain individuals as their actions have caused grave inconvenience to thousands of our guests," the spokesperson said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New Delhi airport saw chaotic scenes on Wednesday as agitated passengers waited for updates on delayed and cancelled flights, according to Indian media reports. – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20669', 'image' => '20240510015005_air-india-express-air-asia.jpg_18a606261ac_large.jpg', 'article_date' => '2024-05-10 13:49:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20941', 'article_category_id' => '1', 'title' => 'Push for Development ‘Threatens’ Nepal's Nature Conservation Efforts', 'sub_title' => '', 'summary' => 'Kathmandu: Conservationists have condemned new regulations allowing operation of hydropower projects and hotels in protected areas, arguing they threatened to damage the habitats of tigers and other endangered animals.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Conservationists have condemned new regulations allowing operation of hydropower projects and hotels in protected areas, arguing they threatened to damage the habitats of tigers and other endangered animals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a news report published by AFP, a fifth of Nepal’s total lands have been designated as protected areas established to forbid infrastructure projects that could damage the environment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been praised worldwide for combating poachers and conserving wildlife, allowing it to bring several animal species back from the brink of local extinction, the report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the government enacted an ordinance last month allowing it to approve infrastructure projects in national parks, forests and other conservation areas.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The number of endangered tigers and one-horned rhinos in the country have thrived because of these protected areas as they found a favourable environment," Rampreet Yadav, a wildlife conservationist, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This decision allowing construction of infrastructure will surely impact their habitat."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yadav, who is also the former chief conservation officer of Chitwan National Park, Nepal's most important conservation area, said the decision was driven by the "vested interests of political leaders".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We will have nothing to show and give our next generation," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's protected habitat laws have seen the country triple the local tiger population to 355 since 2010, while the number of one-horned rhinoceros also rose to 752 in 2021 from around a hundred in the 1960s, AFP reported, adding, “It also nearly doubled its forest cover between 1992 and 2016 after rampant logging.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has shown a strong commitment to enhancing its hydropower industry following a significant surge in dam construction since the beginning of the century, resulting in an installed capacity exceeding 3,300 megawatts. In January, Nepal inked a deal with India to export 10,000 megawatts of hydroelectricity over the next decade, to meet the energy demands of its power-hungry neighbor. In addition, Bangladesh is also keen to purchase clean energy from Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, tourism is also a major source of income for Nepal, which saw a million foreign visitors last year after a post-pandemic bounceback, and investments are being made in hotels and airports to cater to the needs of the travellers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Environment ministry spokesperson Badri Raj Dhungana told AFP that the new regulations had been introduced to bring a balance between environmental protection and development.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"They will not be constructed in very sensitive areas. We will need a work plan with proper mapping," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But according to AFP, Padma Bahadur Shrestha, a lawyer specialising in litigation aimed at nature protection, said the decision showed the government was set on casting aside environmental concerns in its rush for development.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It wants to destroy Nepal's biodiversity to make new infrastructure," AFP quoted Shrestha as saying.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20668', 'image' => '20240510014326_20220613011426_khaptad.jpg', 'article_date' => '2024-05-10 13:42:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20937', 'article_category_id' => '1', 'title' => 'Court Issues Arrest Warrants against 20 People in Bal Mandir Land Embezzlement Case', 'sub_title' => '', 'summary' => 'Kathmandu: The Kathmandu District Court has issued arrest warrants against 20 individuals, including the then president of Nepal Children’s Organization (Bal Mandir) Rita Singh Baidya, on the charge of causing financial loss to the charitable organization by illegally leasing its land in Naxal, Kathmandu for 79 years at a throw-away price.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Kathmandu: The Kathmandu District Court has issued arrest warrants against 20 individuals, including the then president of Nepal Children’s Organization (Bal Mandir) Rita Singh Baidya, on the charge of causing financial loss to the charitable organization by illegally leasing its land in Naxal, Kathmandu for 79 years at a throw-away price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The court issued the arrest warrant on Thursday upon the request of the Central Investigation Bureau (CIB) of the Nepal Police, which is investigating the matter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Baidya is the elder sister of Nepali Congress leader Prakashman Singh. She was the president of the children's organization from 2047 BS to 2077 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Baidhya, along with other officials of the child welfare organization have been accused of leasing the land of Bal Mandir to Vishal Group, a commercial organisation, in a way that would cause loss to the organization. Vishal Group is running a school named Brihaspati Vidya Sadan on that land of Bal Mandir. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The court has also issued arrest warrants against the school's principal, board members and shareholders.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">CIB Spokesperson Superintendent of Police (SP) Hobindra Bogti confirmed that the district court has issued arrest warrants to investigate alleged irregularities carried out by the accused including Baidhya, who was the president of the children's organization for about 27 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">"An investigation has been started against the accused on charges of fraud after a complaint was registered," SP Bogti told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The children's organization filed a complaint with the CIB on April 26 alleging that the contract with Brihaspati Vidya Sadan was illegal and demanded action against those involved. SP Bogti said that the CIB has started an investigation based on the same complaint.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Bal Mandir’s President Bidya Neupane accused the ex-officials of the welfare organisation of signing an agreement with Brihaspati Vidya Sadan to lease the land at a low price of Rs 900,000 per month effective until 2132 BS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Neupane accused that the ex-officials of Bal Mandir made financial gains in collusion with Brihaspati Vidya Sadan and business houses when they leased 29 ropanis and 5 annas of land owned by the children's organization.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">She said that the board meeting of the children's organization held on April 26 also decided to cancel the dubious contract.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Brihaspati Vidya Sadan signed the agreement with Bal Mandir and acquired the land and again gave it to Rai School on 'sub-lease'. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">According to the officers involved in the investigation, Nepal Children's Organization and Brihaspati Vidya Sadan signed the lease agreement on 2049 BS and then decided to set new rates in 2053 BS, 2058 BS, 2059 BS and 2072 BS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">In 2072 BS, the then president of Bal Mandir Rita Singh Baidhya was found to have signed a new agreement to extend the lease with the old agreement still in force. Neupane, the incumbent president of Bal Mandir, said that 17 years were still left in the old agreement when the new agreement was signed to extend the lease for another 43 years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">"It seems that an agreement has been reached for 79 years until 2132 BS," Neupane told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The current leadership of Bal Mandir has alleged that Rita Singh, the then president of Nepal Children's Organization, and Purushottam Raj Joshi of Brihaspati Vidya Sadan, entered into a supplementary agreement in 2072 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The Government of Nepal had provided 119 ropanis of land to Bal Mandir in 2021 BS after acquiring 'Sita Bhavan' in Naxal from the queen of then Rana Prime Minister Bhim Shumsher.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20666', 'image' => '20240510113427_14bf2240.jpeg', 'article_date' => '2024-05-10 11:33:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20939', 'article_category_id' => '1', 'title' => 'Government is Preparing to bring Transformational Budget: Finance Minister Pun ', 'sub_title' => '', 'summary' => 'Kathmandu: Finance Minister Barsha Man Pun has said that the government is preparing to include reformative and transformative plans and programmes in the upcoming fiscal year's the budget rather than adopting strict policies.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: Finance Minister Barsha Man Pun has said that the government is preparing to include reformative and transformative plans and programmes in the upcoming fiscal year's the budget rather than adopting strict policies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Addressing a pre-budget discussion programme organised by the Society of Economic Journalists-Nepal (SEJON) on Thursday, Finance Minister Pun said the government shall lift up the confidence of the private sector and adopt reformative and transformative policies in some sectors to improve the slowdown seen in the economy at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government received suggestions to adopt interventionist policies in order to improve the economy, but the government will not go to extremes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Some areas are in need of transformation and not just reform," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finance minister, the government is committed to protecting the investment, trade, business, and property of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The government is committed to synchronization between the fiscal policy and the monetary policy," Finance Minister Pun said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also maintained that a change in the tax rate to be made through the next fiscal year's budget would be done by justifying its need and appropriateness. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will not make changes to the tax rate under anyone's influence. The Economic Bill will have three columns specifying the reasons and justification for the change in the tax rate. We will clarify the reasons for the change in the tax rate,” he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also pledged to increase the government’s capital expenditure.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Although a double digit economic growth is not possible, we are hopeful of achieving an economic growth of 7.5 per cent," the Finance Minister said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal opined that the overall economy is in problem due to the slump in both market demand and supply. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the government has given a message of creating investment-friendly environment by changing the laws in a short time through ordinance. The FNCCI president suggested that the budget for the upcoming fiscal year should keep the demands and suggestions of the private sector in priority. He suggested to the government to also maintain uniformity and harmony between the budget and the monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal also suggested announcing the Investment Decade through the upcoming fiscal year's budget and to provide concessions to the industries creating a large number of jobs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the tax imposed on the merger and acquisition of banks and financial institutions has sent out a wrong message. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kamalesh Kumar Agrawal, President of the Nepal Chamber of Commerce, highlighted concerns regarding the national capital's development. He pointed out the challenge posed by the current negative growth rate in the production and construction sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He mentioned that the number of blacklisted entrepreneurs is increasing due to their failure to pay back the loan of the banks and financial institutions. He added that the economic slowdown resulted from the tight finances and monetary policy brought by the government after COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, President of the Confederation of Nepalese Industries, Rajesh Kumar Agrawal, said the private sector is focusing its attention on how to protect their investment rather than increasing investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"A point of view of looking at the private sector should be changed. National capital building is decreasing due to our contradictory policy," he said, pointing out the need of bringing budget with a focus on investment in infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He suggested that there was necessary of quality measuring and labeling of imported goods, and imposing two-level customs tax on raw materials and produced goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, President of Nepal Bankers' Association, Sunil KC, shared that the banking sector is currently in a difficult situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The banking sector has accumulated an investable amount of Rs 500 billion. But the loan investment will not increase until the morale of private sector is boosted. It is necessary to increase financial access of small and middle-scale enterprises rather than providing concession," he underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, President of the Independent Power Producers' Association, Nepal, Ganesh Karki stressed the effective implementation of the budget. He suggested taking the private sector on board in the electricity transmission line and power trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Confederation of Banks and Financial Institutions, Nepal (CBFIN) president Upendra Paudel suggested bringing foreign investment in the banking sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Registrar of Kathmandu University and economist Achyut Wagle said although all sides know about the status of the economy, they have not been able to carry out works towards resolving the economic issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Nepal Automobiles Association Nepal, Karan Chaudhary, said the automobiles sector is facing problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He explained, "Make in Nepal policy has not become effective, the state has not put the auto sector in priority saying it is unproductive sector." -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20665', 'image' => '20240510123143_bdcddd0c.jpeg', 'article_date' => '2024-05-10 12:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20936', 'article_category_id' => '1', 'title' => 'Rainfall Predicted in Hill Regions Today', 'sub_title' => '', 'summary' => 'Kathmandu: Light rain accompanied by thunder, lightning, and winds is occurring in certain areas of the Koshi, Bagmati, and Gandaki provinces, with partial to general changes in weather conditions across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Light rain accompanied by thunder, lightning, and winds is occurring in certain areas of the Koshi, Bagmati, and Gandaki provinces, with partial to general changes in weather conditions across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Hydrology and Meteorology informed that the influence of westerly winds, local wind patterns, and a low-pressure system formed in and around Bihar, India, has been affecting the country's weather.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The forecast predicts partly to generally cloudy skies in the hill regions of the country, including the Koshi and Lumbini provinces, with light rain likely in some areas, accompanied by thunder and lightning, particularly in the Koshi and Bagmati provinces this afternoon. There's also a possibility of light snowfall in some high hill and mountainous regions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Tonight, the weather in the hill regions, including Koshi Province, is expected to be partly to generally cloudy, with chances of light to moderate rainfall followed by thunder, lightning, and gusty winds in one or two places in the rest of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Over the next 24 hours, the department anticipates light rain with thunder and lightning in various parts of the hill regions, including the Koshi and Bagmati provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Considering the potential impact of light snowfall on daily life, including agriculture, health, tourism, mountaineering, and transportation in these regions, the department has advised people to remain alert.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20664', 'image' => '20240510103440_snowwwwwww.jpg', 'article_date' => '2024-05-10 10:33:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20938', 'article_category_id' => '1', 'title' => 'FNCCI President Dhakal Receives Corporate Excellence Award', 'sub_title' => '', 'summary' => 'Kathmandu: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has been honored with the Corporate Excellence Award by the Association of Chartered Accountants of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has been honored with the Corporate Excellence Award by the Association of Chartered Accountants of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">President Ram Chandra Poudel presented the award to Dhakal during a special event in the capital on Thursday.</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"">The Association commended Dhakal for his significant contributions to the country's economy, physical and human development, job creation, and social and economic progress.</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"">Starting from his upbringing in rural western Nepal, Dhakal has established a successful presence in sectors such as banking, investment, tourism, hydroelectricity, insurance, and social services.</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"">The Association acknowledged Dhakal's dedication, commitment, competence, and capacity, which have been recognized through this award.</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"">In the appreciation letter, it was stated, "Your achievements in fostering the nation's economy, development, and employment across various sectors underscore your dedication and competence. This award is a testament to your dedication."</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"">Expressing gratitude for the recognition, Dhakal mentioned that the honor has inspired him to embrace further responsibilities in the future.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20663', 'image' => '20240510120354_IMG-20240509-WA0008.jpg', 'article_date' => '2024-05-10 12:03:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20935', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament to Commence Today ', 'sub_title' => '', 'summary' => 'May 10: The budget session of the House of Representatives and National Assembly under the federal parliament is scheduled to take place from today (May 10) onwards. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 10: The budget session of the House of Representatives and National Assembly under the federal parliament is scheduled to take place from today (May 10) onwards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget session is all set to begin after President Ram Chandra Paudel on May 2 summoned the joint session of the federal parliament in accordance with the Article 93 (1) of the Constitution of Nepal upon the recommendation of the Council of Ministers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal parliament secretariat has already issued a notice requesting all members of the parliament for their presence in the session called for 2.00 pm today at New-Baneswor based International Conference Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the constitutional provision, an estimated details of income and expenditure (budget) for the upcoming year has to be presented in the parliament on May 28 (Jestha 15). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, the president will read out the government's annual policies and programmes in the joint sitting of both the Houses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to run the session effectively, Speaker Devraj Ghimire held discussions with top leaders of major political parties represented in the parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20662', 'image' => '20240510100245_budgetttttt.jpg', 'article_date' => '2024-05-10 10:01:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20934', 'article_category_id' => '1', 'title' => 'MCA-Nepal Signs Contract to Construct 400 kV New Butwal Substation at Nawalparasi', 'sub_title' => '', 'summary' => 'Nawalparasi: In a milestone achievement, MCA-Nepal has awarded and signed a contract with Linxon India Pvt. Ltd. for the construction of the 400 kV New Butwal Substation in Nawalparasi (Bardaghat Susta West) district in Lumbini Province.', '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"">Nawalparasi: In a milestone achievement, MCA-Nepal has awarded and signed a contract with Linxon India Pvt. Ltd. for the construction of the 400 kV New Butwal Substation in Nawalparasi (Bardaghat Susta West) district in Lumbini Province. </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"">The 400 kV Gas Insulated Switchgear (GIS) substation will be constructed within the contract duration of 39 months.</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"">Kulman Ghising, the Managing Director for Nepal Electricity Authority (NEA) and Dean R. Thompson, the U.S. Ambassador to Nepal, local authorities and elected representatives were also present at the signing ceremony in Bhumahi, Nawalparasi (Bardaghat Susta West) on Thursday. </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"">Speaking at the event, Ambassador Dean R. Thompson stated, “The U.S. Government is committed to working with the Government of Nepal to ensure that the compact delivers on Nepal’s energy needs. The 400 kV New Butwal Substation will improve Nepal’s transmission capacity contributing to reliable and affordable electricity for household consumption, expanded commercial and industrial enterprises and cross-border electricity trading.”</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"">NEA Managing Director Ghising said, “The 400 kV substation has been a priority for NEA and will supplement the existing 220 kV substation to significantly increase cross-border energy trade in the region.”</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"">During the event, MCA-Nepal Executive Director Khadga Bahadur Bisht highlighted the overall progress being made in the implementation of the MCC Nepal Compact, stating “MCA-Nepal is expediting all works for the construction of the transmission lines and substations under the Electricity Transmission Project. We are at the final stages of the procurement process to sign the contract for the construction of the remaining two substations as well.”</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"">Along with this substation, MCA-Nepal is constructing two other substations in Ratmate, Nuwakot district and Damauli, Tanahun district under the Electricity Transmission Project funded by the U.S. Government’s Millennium Challenge Corporation (MCC) and the Government of Nepal. The contractors for the remaining two substations are being selected. </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"">The MCA-Nepal Board, chaired by the Secretary at the Ministry of Finance, decided in its March board meeting to advance the 18 km Nepal portion of the New Butwal-Gorakhpur power transmission line to facilitate timely initiation of cross-border power trade as outlined in the agreement with India. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20661', 'image' => '20240510092757_IMG-20240509-WA0009.jpg', 'article_date' => '2024-05-10 09:27:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20933', 'article_category_id' => '1', 'title' => 'Global IME Bank Launches Financial Literacy Programme with Over 20,000 Participants', 'sub_title' => '', 'summary' => 'Global IME Bank Limited has launched a comprehensive financial literacy program through its 169 branch offices. Under Corporate social responsibility, the bank has launched financial literacy programme targeting various groups of people outside financial reach.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 10: Global IME Bank Limited has launched a comprehensive financial literacy program through its 169 branch offices. Under Corporate social responsibility, the bank has launched financial literacy programme targeting various groups of people outside financial reach. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">More than 20,000 farmers, small, micro, and cottage entrepreneurs, laborers, potential individuals seeking foreign employment, students, women, recipients of remittance, and local youths are participating in the programmes in all seven provinces. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">There was participation of more than 2,500 in Province 1, 2,000 in Madhes Province, 5,000 in Bagmati Province, 4,500 in Gandaki Province, 3,500 in Lumbini Province, 500 in Karnali Province, and more than 2,500 in Sudurpashchim Province.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Information related to savings, loans, remittances, digital banking, insurance, investment, additional banking services, financial fraud, and financial discipline is provided in the programmes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank is the first commercial bank in the private sector to have a network of branches in all 77 districts of the country. In addition to its 354 branch offices, the bank also has 379 ATMs, 277 branchless banking services, 68 extensions, revenue collection counters, and 3 foreign representative offices, totaling more than 1,100 service centers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank aims to become a bank for all, providing excellent services to more than 4.6 million customers through various service and facility plans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, by facilitating remittances from countries such as the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, India, Jordan, and Hong Kong, the bank is making a significant contribution to the country's economy.</span></span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20660', 'image' => '20240510083923_collage (77).jpg', 'article_date' => '2024-05-10 08:37:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20931', 'article_category_id' => '1', 'title' => 'Nepal and Switzerland Partner for Local Development through Sustainable Tourism in Koshi Province', 'sub_title' => '', 'summary' => 'May 9: The Government of Nepal has signed an agreement with Switzerland to implement the Trail-based Tourism Development Project (TTDP) in Koshi Province.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: The Government of Nepal has signed an agreement with Switzerland to implement the Trail-based Tourism Development Project (TTDP) in Koshi Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The TTDP aims to promote local economic development and sustainable tourism by enhancing culturally and historically important trails in the high hills of Koshi Province, reads a statement issued by the Swiss Embassy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shree Krishna Nepal, joint-secretary of the Ministry of Finance and Dr Danielle Meuwly, Swiss Ambassador to Nepal, inked the agreement on behalf of their respective governments on Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement Switzerland will contribute CHF 9.01 million (about Rs 1.26 billion), while the Government of Nepal will inject approximately CHF 1.3 million (about Rs 186 million) for trail improvement and promotion over the next four years. The Koshi Province government and local governments will also contribute to the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The project will be implemented by 29 local governments in collaboration with the Koshi Provincial government. It will involve the construction of around 400 km of trails and is expected to create approximately 2,000 local jobs in tourism-related businesses, reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, around half a million person-days of employment will be generated through cash-for-work during the trail construction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon completion, the trails are projected to attract approximately 80,000 visitors annually, including domestic tourists and visitors from the region. This influx of visitors is expected to stimulate economic growth and contribute to the preservation of local culture and heritage, reads a press release issued by the Embassy of Switzerland in Nepal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20658', 'image' => '20240509073316_771.20-12.02.27_240509_TTDP_4.jpg', 'article_date' => '2024-05-09 19:32:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20930', 'article_category_id' => '1', 'title' => 'Nepal to Officially Start Assembling Hyundai Four-Wheelers from Friday', 'sub_title' => '', 'summary' => 'May 9: Globally acclaimed Hyundai cars are now going to be assembled in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">May 9: Globally acclaimed Hyundai cars are now going to be assembled in Nepal. Laxmi Motor Corporation, which is the authorized distributor of Hyundai vehicles for Nepal, is all set to inaugurate an assembly plant in Nepal within this week.</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:"ekmukta","serif"">The plant is about to be inaugurated on the 50th anniversary of the establishment of diplomatic relations between the Republic of Korea and Nepal. Prime Minister Pushpa Kamal Dahal is scheduled to attend the inauguration of the assembly plant on Friday.</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:"ekmukta","serif"">Laxmi Motor Corporation, the official dealer of Hyundai vehicles for Nepal, is a subsidiary of Laxmi Group.</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:"ekmukta","serif"">The company has already established the plant in Nawalparasi and has been assembling Hyundai Venue SUVs in the testing phase since the last six months.</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:"ekmukta","serif"">With the success of the trial production, Hyundai brand Venue is about to go into commercial production at the assembly plant. As it will be assembled in Nepal, it is believed that the price range will also be cheaper.</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:"ekmukta","serif"">The company claimed this is the first time that a four-wheeler assembly plant has come into operation in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">However, a decade ago, Hulas Motors had produced the Mustang Max in Nepal. Since the plant was closed due to pollution standards, there isn’t any other four-wheeler assembly plant operating in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">Six years ago, the Korean company Motrex had announced to open a car assembly plant in Nepal but the work was not progressed. </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:"ekmukta","serif"">Speaking to New Business Age, South Korean Ambassador to Nepal, Park Tae-Young said that after a company like Hyundai starts an assembly plant in Nepal, other Korean companies will also be encouraged to follow suit.</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:"ekmukta","serif"">“Like Nepal, Korea also entered the world market of automobiles through assembly plants. Nepal can also produce its own cars in the near future," 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:"ekmukta","serif"">According to the company, they have started importing and assembling 998 cc Venue S (O), 1197 cc Venue S 1.2 MT and 1197 cc Venue SX 1.2 MT model CKDs at the plant.</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:"ekmukta","serif"">The assembled vehicles are all powered by petrol engine.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20657', 'image' => '20240509041950_kkkk.jpg', 'article_date' => '2024-05-09 16:19:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20929', 'article_category_id' => '1', 'title' => 'South Korea to Hire Nepali Workers in Service and Forestry Sectors', 'sub_title' => '', 'summary' => 'May 9: South Korea has decided to take Nepali workers to two more new areas in 2024.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: South Korea has decided to take Nepali workers to two more new areas in 2024. Small and medium-sized manufacturing companies of South Korea with less than 300 employees and agriculture and animal husbandry sectors are currently hiring Nepali workers under the Korean government’s Employment Permit System (EPS).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"From the end of this year, Nepalese workers will also get employment opportunities in the service and forestry sectors in Korea under EPS," South Korean Ambassador to Nepal Park Tae-Young said in a press conference held on Wednesday, adding, "The quota for this has also been determined." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Maiya Kandel, director of EPS branch, said that lthough Korea usually does not hire workers by changing sectors, it has accepted the request made by the Government of Nepal to send the aspiring workers to the service sector from among those on the roster of manufacturing industry and agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the service sector, Nepalis will be permitted to work in hotels, restaurants, cooking and cleaning. According to Kandel, the number of Nepalis to be taken by Korea under the service sector has not been determined. She said that South Korea is yet to place the demand for the forestry sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">South Korea is one of the most attractive destinations for Nepali workers due to the high wages and social security arrangements compared to other countries, although the work done by the workers going under the EPS is menial job. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the EPS system, South Korea has been taking workers from 16 countries including Nepal. Other countries are Indonesia, Mongolia, Sri Lanka, the Philippines, Thailand, Vietnam, Uzbekistan, Pakistan, Cambodia, China, Bangladesh, Kyrgyzstan, East Timor and Laos. Compared to other countries, Korean companies have hired a large number of Nepali workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In 2023, Korea set a quota for 120,000 foreign workers under the EPS system, under which 19,739 Nepalis were hired, according to the Human Resources Development Services of Korea. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A quota of 165,000 has been set for the year 2024. With the increase in the total quota of foreign workers, the quota that Nepal will get has also increased. According to the EPS branch, the total quota for Nepal in 2024 has increased by 13.2 percent. Kandel said that the annual quota is currently around 15,800.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali workers have been going to South Korea for employment after the governments of Nepal and South Korea signed a ministerial-level agreement in July 2007 to hire Nepali workers under the EPS system. Under this G2G process, Nepalis can go to Korea for employment. The private sector has no role in this process.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Human Resources Development Services of Korea, 99,900 Nepalis have reached there from Nepal under EPS so far. According to the Ministry of Foreign Affairs, there are currently around 40,000 Nepalis working in Korea. Most of them have gone under EPS. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20656', 'image' => '20240509035114_Untitled-1.jpg', 'article_date' => '2024-05-09 15:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20946', 'article_category_id' => '1', 'title' => 'East-West Railway's 90% Work Completed in Sarlahi Section ', 'sub_title' => '', 'summary' => 'The East-West Electric Railway project in Sarlahi district has seen construction of 90 percent of construction completed in the area.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 12: The East-West Electric Railway project in Sarlahi district has seen construction of 90 percent of construction completed in the area. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Engineer Bhuwaneshwor Yadav, the project's information officer, reported that 90% construction work was accomplished within six years of the project's contract. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Sarlahi section spans 30 kilometers from Banke stream in the east to Bagmati River in the west, with the remaining track opening currently in progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Work to open track was stalled in some places after the Sagarmatha Forest Project and the Murtiya Forest Office did not clear trees reasoning that some farmers of Hariban municipality-5 refused to receive compensation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The progress of this section is therefore zilch. Engineer Yadav mentioned that the construction is snail-paced in recent period. According to Project Office, Lalbandi, the construction company is still to get payment for completed work. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-12', 'modified' => '2024-05-12', 'keywords' => '', 'description' => '', 'sortorder' => '20673', 'image' => '20240512065711_collage.jpg', 'article_date' => '2024-05-12 06:53:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20943', 'article_category_id' => '1', 'title' => 'EU to Help Nepal bring Investment ', 'sub_title' => '', 'summary' => 'Kathmandu: The European Union (EU) has pledged to help Nepal bring in investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The European Union (EU) has pledged to help Nepal bring in investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EU Ambassador to Nepal Veronique Lorenzo informed that the 'EU-Nepal Trade Forum' is taking place in Kathmandu next week to bring European investment to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In her address to a reception organised on Thursday to mark the 50th anniversary of the establishment of diplomatic relations between Nepal and the European Union, Ambassador Lorenzo said that the second meeting of the forum would be held in Kathmandu on May 15-16 to address Nepal's foreign investment deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said companies from EU countries would participate in the meeting to discuss the potential areas of investment in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The EU Ambassador further said Nepal was moving ahead with the goal of upgrading from the list of least developed countries in 2026 and it was necessary to create economic development and employment opportunities for the same. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20671', 'image' => '20240510015610_Veronique_Lorenzo_EU3_sunilsharma_005.width-1024.jpg', 'article_date' => '2024-05-10 13:55:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20944', 'article_category_id' => '1', 'title' => 'Two Arrested with Rs 9.8 Million from Durbar Marg', 'sub_title' => '', 'summary' => 'The Kathmandu Valley Crime Investigation Office has arrested two persons along with Rs 9.8 million cash with undisclosed source.', 'content' => '<p><span style="font-size:20px">May 10: The Kathmandu Valley Crime Investigation Office has arrested two persons along with Rs 9.8 million cash with undisclosed source.</span></p> <p><span style="font-size:20px"> The arrested are Samir Sunar, 28, and Milan BK, 29, of Siyari rural municipality-7 in Rupandehi, said Chief of the Kathmandu Valley Crime Investigation Office, Senior Superintendent of Police Sanuram Bhattarai. </span></p> <p><span style="font-size:20px">At a news conference organised today, Bhattarai shared that both of them were arrested from Durbar Marg on Thursday. "As per our preliminary investigation, they were also found involved in Hundi (money transfer through unofficial channel) and gold smuggling," he mentioned. </span></p> <p><span style="font-size:20px">Police also impounded a car (Ba 13 Cha 4858) from them. Earlier, a warrant notice was issued against Milan BK on September 27, 2023 on the charge of his involvement in smuggling of 11.5 kg gold in Dolakha and had been absconding since then.</span></p> <p><span style="font-size:20px">As per the preliminary investigation, both of them were found involved in criminal activities for two years, added police. Samir and Milan would be sent at the District Police Range, Kathmandu, for further investigation. (RSS) </span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20670', 'image' => '20240510042258_collage (9).jpg', 'article_date' => '2024-05-10 16:21:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '20942', 'article_category_id' => '1', 'title' => 'Air India Cancels 74 Budget Flights after Sick Leave Strike ', 'sub_title' => '', 'summary' => 'Mumbai: Air India's budget carrier subsidiary cancelled 74 flights on Thursday, a day after its operations were severely disrupted by dozens of cabin crew calling in sick at the last minute. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mumbai: Air India's budget carrier subsidiary cancelled 74 flights on Thursday, a day after its operations were severely disrupted by dozens of cabin crew calling in sick at the last minute. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The airline was taken over by Indian conglomerate Tata Group in 2022 after a government effort to privatise the heavily indebted carrier. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Media reports linked the sudden mass sick leave to simmering staff discontent over new policies on hiring and promotion imposed by its new ownership. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Air India Express said in a statement that it had made "every possible effort to minimise the inconvenience caused to our guests" but had been forced to cancel 74 flights on Thursday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">More than 90 other flights had been "disrupted" since Tuesday by the resulting staff shortages, the airline said in a separate statement on Wednesday, without clarifying whether they had been delayed or cancelled. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief executive Aloke Singh said Wednesday that the airline had been forced to curtail its flight schedules over the coming days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Since last evening, over 100 of our cabin crew colleagues have reported sick prior to their rostered flight duty, at the last minute, severely disrupting our operations," Singh said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This act is certainly not representative of the 2,000-odd cabin crew colleagues in the company who continue to respond to the call of duty." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Media reports said the budget carrier had sacked at least 20 staff. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An Air India Express spokesperson said Thursday that the airline had taken "appropriate steps against certain individuals", but did not provide further details. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We are taking appropriate steps against certain individuals as their actions have caused grave inconvenience to thousands of our guests," the spokesperson said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New Delhi airport saw chaotic scenes on Wednesday as agitated passengers waited for updates on delayed and cancelled flights, according to Indian media reports. – AFP/RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20669', 'image' => '20240510015005_air-india-express-air-asia.jpg_18a606261ac_large.jpg', 'article_date' => '2024-05-10 13:49:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20941', 'article_category_id' => '1', 'title' => 'Push for Development ‘Threatens’ Nepal's Nature Conservation Efforts', 'sub_title' => '', 'summary' => 'Kathmandu: Conservationists have condemned new regulations allowing operation of hydropower projects and hotels in protected areas, arguing they threatened to damage the habitats of tigers and other endangered animals.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Conservationists have condemned new regulations allowing operation of hydropower projects and hotels in protected areas, arguing they threatened to damage the habitats of tigers and other endangered animals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a news report published by AFP, a fifth of Nepal’s total lands have been designated as protected areas established to forbid infrastructure projects that could damage the environment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has been praised worldwide for combating poachers and conserving wildlife, allowing it to bring several animal species back from the brink of local extinction, the report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the government enacted an ordinance last month allowing it to approve infrastructure projects in national parks, forests and other conservation areas.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The number of endangered tigers and one-horned rhinos in the country have thrived because of these protected areas as they found a favourable environment," Rampreet Yadav, a wildlife conservationist, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This decision allowing construction of infrastructure will surely impact their habitat."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yadav, who is also the former chief conservation officer of Chitwan National Park, Nepal's most important conservation area, said the decision was driven by the "vested interests of political leaders".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We will have nothing to show and give our next generation," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's protected habitat laws have seen the country triple the local tiger population to 355 since 2010, while the number of one-horned rhinoceros also rose to 752 in 2021 from around a hundred in the 1960s, AFP reported, adding, “It also nearly doubled its forest cover between 1992 and 2016 after rampant logging.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has shown a strong commitment to enhancing its hydropower industry following a significant surge in dam construction since the beginning of the century, resulting in an installed capacity exceeding 3,300 megawatts. In January, Nepal inked a deal with India to export 10,000 megawatts of hydroelectricity over the next decade, to meet the energy demands of its power-hungry neighbor. In addition, Bangladesh is also keen to purchase clean energy from Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, tourism is also a major source of income for Nepal, which saw a million foreign visitors last year after a post-pandemic bounceback, and investments are being made in hotels and airports to cater to the needs of the travellers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Environment ministry spokesperson Badri Raj Dhungana told AFP that the new regulations had been introduced to bring a balance between environmental protection and development.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"They will not be constructed in very sensitive areas. We will need a work plan with proper mapping," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But according to AFP, Padma Bahadur Shrestha, a lawyer specialising in litigation aimed at nature protection, said the decision showed the government was set on casting aside environmental concerns in its rush for development.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It wants to destroy Nepal's biodiversity to make new infrastructure," AFP quoted Shrestha as saying.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20668', 'image' => '20240510014326_20220613011426_khaptad.jpg', 'article_date' => '2024-05-10 13:42:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20937', 'article_category_id' => '1', 'title' => 'Court Issues Arrest Warrants against 20 People in Bal Mandir Land Embezzlement Case', 'sub_title' => '', 'summary' => 'Kathmandu: The Kathmandu District Court has issued arrest warrants against 20 individuals, including the then president of Nepal Children’s Organization (Bal Mandir) Rita Singh Baidya, on the charge of causing financial loss to the charitable organization by illegally leasing its land in Naxal, Kathmandu for 79 years at a throw-away price.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Kathmandu: The Kathmandu District Court has issued arrest warrants against 20 individuals, including the then president of Nepal Children’s Organization (Bal Mandir) Rita Singh Baidya, on the charge of causing financial loss to the charitable organization by illegally leasing its land in Naxal, Kathmandu for 79 years at a throw-away price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The court issued the arrest warrant on Thursday upon the request of the Central Investigation Bureau (CIB) of the Nepal Police, which is investigating the matter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Baidya is the elder sister of Nepali Congress leader Prakashman Singh. She was the president of the children's organization from 2047 BS to 2077 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Baidhya, along with other officials of the child welfare organization have been accused of leasing the land of Bal Mandir to Vishal Group, a commercial organisation, in a way that would cause loss to the organization. Vishal Group is running a school named Brihaspati Vidya Sadan on that land of Bal Mandir. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The court has also issued arrest warrants against the school's principal, board members and shareholders.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">CIB Spokesperson Superintendent of Police (SP) Hobindra Bogti confirmed that the district court has issued arrest warrants to investigate alleged irregularities carried out by the accused including Baidhya, who was the president of the children's organization for about 27 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">"An investigation has been started against the accused on charges of fraud after a complaint was registered," SP Bogti told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The children's organization filed a complaint with the CIB on April 26 alleging that the contract with Brihaspati Vidya Sadan was illegal and demanded action against those involved. SP Bogti said that the CIB has started an investigation based on the same complaint.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Bal Mandir’s President Bidya Neupane accused the ex-officials of the welfare organisation of signing an agreement with Brihaspati Vidya Sadan to lease the land at a low price of Rs 900,000 per month effective until 2132 BS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Neupane accused that the ex-officials of Bal Mandir made financial gains in collusion with Brihaspati Vidya Sadan and business houses when they leased 29 ropanis and 5 annas of land owned by the children's organization.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">She said that the board meeting of the children's organization held on April 26 also decided to cancel the dubious contract.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">Brihaspati Vidya Sadan signed the agreement with Bal Mandir and acquired the land and again gave it to Rai School on 'sub-lease'. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">According to the officers involved in the investigation, Nepal Children's Organization and Brihaspati Vidya Sadan signed the lease agreement on 2049 BS and then decided to set new rates in 2053 BS, 2058 BS, 2059 BS and 2072 BS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">In 2072 BS, the then president of Bal Mandir Rita Singh Baidhya was found to have signed a new agreement to extend the lease with the old agreement still in force. Neupane, the incumbent president of Bal Mandir, said that 17 years were still left in the old agreement when the new agreement was signed to extend the lease for another 43 years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">"It seems that an agreement has been reached for 79 years until 2132 BS," Neupane told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The current leadership of Bal Mandir has alleged that Rita Singh, the then president of Nepal Children's Organization, and Purushottam Raj Joshi of Brihaspati Vidya Sadan, entered into a supplementary agreement in 2072 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Nirmala UI","sans-serif"">The Government of Nepal had provided 119 ropanis of land to Bal Mandir in 2021 BS after acquiring 'Sita Bhavan' in Naxal from the queen of then Rana Prime Minister Bhim Shumsher.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20666', 'image' => '20240510113427_14bf2240.jpeg', 'article_date' => '2024-05-10 11:33:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20939', 'article_category_id' => '1', 'title' => 'Government is Preparing to bring Transformational Budget: Finance Minister Pun ', 'sub_title' => '', 'summary' => 'Kathmandu: Finance Minister Barsha Man Pun has said that the government is preparing to include reformative and transformative plans and programmes in the upcoming fiscal year's the budget rather than adopting strict policies.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: Finance Minister Barsha Man Pun has said that the government is preparing to include reformative and transformative plans and programmes in the upcoming fiscal year's the budget rather than adopting strict policies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Addressing a pre-budget discussion programme organised by the Society of Economic Journalists-Nepal (SEJON) on Thursday, Finance Minister Pun said the government shall lift up the confidence of the private sector and adopt reformative and transformative policies in some sectors to improve the slowdown seen in the economy at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government received suggestions to adopt interventionist policies in order to improve the economy, but the government will not go to extremes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Some areas are in need of transformation and not just reform," he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finance minister, the government is committed to protecting the investment, trade, business, and property of the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The government is committed to synchronization between the fiscal policy and the monetary policy," Finance Minister Pun said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also maintained that a change in the tax rate to be made through the next fiscal year's budget would be done by justifying its need and appropriateness. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will not make changes to the tax rate under anyone's influence. The Economic Bill will have three columns specifying the reasons and justification for the change in the tax rate. We will clarify the reasons for the change in the tax rate,” he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also pledged to increase the government’s capital expenditure.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Although a double digit economic growth is not possible, we are hopeful of achieving an economic growth of 7.5 per cent," the Finance Minister said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal opined that the overall economy is in problem due to the slump in both market demand and supply. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He claimed that the government has given a message of creating investment-friendly environment by changing the laws in a short time through ordinance. The FNCCI president suggested that the budget for the upcoming fiscal year should keep the demands and suggestions of the private sector in priority. He suggested to the government to also maintain uniformity and harmony between the budget and the monetary policy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal also suggested announcing the Investment Decade through the upcoming fiscal year's budget and to provide concessions to the industries creating a large number of jobs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the tax imposed on the merger and acquisition of banks and financial institutions has sent out a wrong message. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kamalesh Kumar Agrawal, President of the Nepal Chamber of Commerce, highlighted concerns regarding the national capital's development. He pointed out the challenge posed by the current negative growth rate in the production and construction sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He mentioned that the number of blacklisted entrepreneurs is increasing due to their failure to pay back the loan of the banks and financial institutions. He added that the economic slowdown resulted from the tight finances and monetary policy brought by the government after COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, President of the Confederation of Nepalese Industries, Rajesh Kumar Agrawal, said the private sector is focusing its attention on how to protect their investment rather than increasing investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"A point of view of looking at the private sector should be changed. National capital building is decreasing due to our contradictory policy," he said, pointing out the need of bringing budget with a focus on investment in infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He suggested that there was necessary of quality measuring and labeling of imported goods, and imposing two-level customs tax on raw materials and produced goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, President of Nepal Bankers' Association, Sunil KC, shared that the banking sector is currently in a difficult situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The banking sector has accumulated an investable amount of Rs 500 billion. But the loan investment will not increase until the morale of private sector is boosted. It is necessary to increase financial access of small and middle-scale enterprises rather than providing concession," he underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, President of the Independent Power Producers' Association, Nepal, Ganesh Karki stressed the effective implementation of the budget. He suggested taking the private sector on board in the electricity transmission line and power trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Confederation of Banks and Financial Institutions, Nepal (CBFIN) president Upendra Paudel suggested bringing foreign investment in the banking sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Registrar of Kathmandu University and economist Achyut Wagle said although all sides know about the status of the economy, they have not been able to carry out works towards resolving the economic issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Nepal Automobiles Association Nepal, Karan Chaudhary, said the automobiles sector is facing problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He explained, "Make in Nepal policy has not become effective, the state has not put the auto sector in priority saying it is unproductive sector." -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20665', 'image' => '20240510123143_bdcddd0c.jpeg', 'article_date' => '2024-05-10 12:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20936', 'article_category_id' => '1', 'title' => 'Rainfall Predicted in Hill Regions Today', 'sub_title' => '', 'summary' => 'Kathmandu: Light rain accompanied by thunder, lightning, and winds is occurring in certain areas of the Koshi, Bagmati, and Gandaki provinces, with partial to general changes in weather conditions across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Light rain accompanied by thunder, lightning, and winds is occurring in certain areas of the Koshi, Bagmati, and Gandaki provinces, with partial to general changes in weather conditions across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Hydrology and Meteorology informed that the influence of westerly winds, local wind patterns, and a low-pressure system formed in and around Bihar, India, has been affecting the country's weather.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The forecast predicts partly to generally cloudy skies in the hill regions of the country, including the Koshi and Lumbini provinces, with light rain likely in some areas, accompanied by thunder and lightning, particularly in the Koshi and Bagmati provinces this afternoon. There's also a possibility of light snowfall in some high hill and mountainous regions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Tonight, the weather in the hill regions, including Koshi Province, is expected to be partly to generally cloudy, with chances of light to moderate rainfall followed by thunder, lightning, and gusty winds in one or two places in the rest of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Over the next 24 hours, the department anticipates light rain with thunder and lightning in various parts of the hill regions, including the Koshi and Bagmati provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Considering the potential impact of light snowfall on daily life, including agriculture, health, tourism, mountaineering, and transportation in these regions, the department has advised people to remain alert.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20664', 'image' => '20240510103440_snowwwwwww.jpg', 'article_date' => '2024-05-10 10:33:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20938', 'article_category_id' => '1', 'title' => 'FNCCI President Dhakal Receives Corporate Excellence Award', 'sub_title' => '', 'summary' => 'Kathmandu: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has been honored with the Corporate Excellence Award by the Association of Chartered Accountants of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has been honored with the Corporate Excellence Award by the Association of Chartered Accountants of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">President Ram Chandra Poudel presented the award to Dhakal during a special event in the capital on Thursday.</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"">The Association commended Dhakal for his significant contributions to the country's economy, physical and human development, job creation, and social and economic progress.</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"">Starting from his upbringing in rural western Nepal, Dhakal has established a successful presence in sectors such as banking, investment, tourism, hydroelectricity, insurance, and social services.</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"">The Association acknowledged Dhakal's dedication, commitment, competence, and capacity, which have been recognized through this award.</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"">In the appreciation letter, it was stated, "Your achievements in fostering the nation's economy, development, and employment across various sectors underscore your dedication and competence. This award is a testament to your dedication."</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"">Expressing gratitude for the recognition, Dhakal mentioned that the honor has inspired him to embrace further responsibilities in the future.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20663', 'image' => '20240510120354_IMG-20240509-WA0008.jpg', 'article_date' => '2024-05-10 12:03:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20935', 'article_category_id' => '1', 'title' => 'Budget Session of Federal Parliament to Commence Today ', 'sub_title' => '', 'summary' => 'May 10: The budget session of the House of Representatives and National Assembly under the federal parliament is scheduled to take place from today (May 10) onwards. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 10: The budget session of the House of Representatives and National Assembly under the federal parliament is scheduled to take place from today (May 10) onwards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget session is all set to begin after President Ram Chandra Paudel on May 2 summoned the joint session of the federal parliament in accordance with the Article 93 (1) of the Constitution of Nepal upon the recommendation of the Council of Ministers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal parliament secretariat has already issued a notice requesting all members of the parliament for their presence in the session called for 2.00 pm today at New-Baneswor based International Conference Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the constitutional provision, an estimated details of income and expenditure (budget) for the upcoming year has to be presented in the parliament on May 28 (Jestha 15). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, the president will read out the government's annual policies and programmes in the joint sitting of both the Houses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to run the session effectively, Speaker Devraj Ghimire held discussions with top leaders of major political parties represented in the parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20662', 'image' => '20240510100245_budgetttttt.jpg', 'article_date' => '2024-05-10 10:01:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20934', 'article_category_id' => '1', 'title' => 'MCA-Nepal Signs Contract to Construct 400 kV New Butwal Substation at Nawalparasi', 'sub_title' => '', 'summary' => 'Nawalparasi: In a milestone achievement, MCA-Nepal has awarded and signed a contract with Linxon India Pvt. Ltd. for the construction of the 400 kV New Butwal Substation in Nawalparasi (Bardaghat Susta West) district in Lumbini Province.', '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"">Nawalparasi: In a milestone achievement, MCA-Nepal has awarded and signed a contract with Linxon India Pvt. Ltd. for the construction of the 400 kV New Butwal Substation in Nawalparasi (Bardaghat Susta West) district in Lumbini Province. </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"">The 400 kV Gas Insulated Switchgear (GIS) substation will be constructed within the contract duration of 39 months.</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"">Kulman Ghising, the Managing Director for Nepal Electricity Authority (NEA) and Dean R. Thompson, the U.S. Ambassador to Nepal, local authorities and elected representatives were also present at the signing ceremony in Bhumahi, Nawalparasi (Bardaghat Susta West) on Thursday. </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"">Speaking at the event, Ambassador Dean R. Thompson stated, “The U.S. Government is committed to working with the Government of Nepal to ensure that the compact delivers on Nepal’s energy needs. The 400 kV New Butwal Substation will improve Nepal’s transmission capacity contributing to reliable and affordable electricity for household consumption, expanded commercial and industrial enterprises and cross-border electricity trading.”</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"">NEA Managing Director Ghising said, “The 400 kV substation has been a priority for NEA and will supplement the existing 220 kV substation to significantly increase cross-border energy trade in the region.”</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"">During the event, MCA-Nepal Executive Director Khadga Bahadur Bisht highlighted the overall progress being made in the implementation of the MCC Nepal Compact, stating “MCA-Nepal is expediting all works for the construction of the transmission lines and substations under the Electricity Transmission Project. We are at the final stages of the procurement process to sign the contract for the construction of the remaining two substations as well.”</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"">Along with this substation, MCA-Nepal is constructing two other substations in Ratmate, Nuwakot district and Damauli, Tanahun district under the Electricity Transmission Project funded by the U.S. Government’s Millennium Challenge Corporation (MCC) and the Government of Nepal. The contractors for the remaining two substations are being selected. </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"">The MCA-Nepal Board, chaired by the Secretary at the Ministry of Finance, decided in its March board meeting to advance the 18 km Nepal portion of the New Butwal-Gorakhpur power transmission line to facilitate timely initiation of cross-border power trade as outlined in the agreement with India. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20661', 'image' => '20240510092757_IMG-20240509-WA0009.jpg', 'article_date' => '2024-05-10 09:27:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20933', 'article_category_id' => '1', 'title' => 'Global IME Bank Launches Financial Literacy Programme with Over 20,000 Participants', 'sub_title' => '', 'summary' => 'Global IME Bank Limited has launched a comprehensive financial literacy program through its 169 branch offices. Under Corporate social responsibility, the bank has launched financial literacy programme targeting various groups of people outside financial reach.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 10: Global IME Bank Limited has launched a comprehensive financial literacy program through its 169 branch offices. Under Corporate social responsibility, the bank has launched financial literacy programme targeting various groups of people outside financial reach. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">More than 20,000 farmers, small, micro, and cottage entrepreneurs, laborers, potential individuals seeking foreign employment, students, women, recipients of remittance, and local youths are participating in the programmes in all seven provinces. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">There was participation of more than 2,500 in Province 1, 2,000 in Madhes Province, 5,000 in Bagmati Province, 4,500 in Gandaki Province, 3,500 in Lumbini Province, 500 in Karnali Province, and more than 2,500 in Sudurpashchim Province.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Information related to savings, loans, remittances, digital banking, insurance, investment, additional banking services, financial fraud, and financial discipline is provided in the programmes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank is the first commercial bank in the private sector to have a network of branches in all 77 districts of the country. In addition to its 354 branch offices, the bank also has 379 ATMs, 277 branchless banking services, 68 extensions, revenue collection counters, and 3 foreign representative offices, totaling more than 1,100 service centers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Global IME Bank aims to become a bank for all, providing excellent services to more than 4.6 million customers through various service and facility plans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Furthermore, by facilitating remittances from countries such as the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, India, Jordan, and Hong Kong, the bank is making a significant contribution to the country's economy.</span></span></p> ', 'published' => true, 'created' => '2024-05-10', 'modified' => '2024-05-10', 'keywords' => '', 'description' => '', 'sortorder' => '20660', 'image' => '20240510083923_collage (77).jpg', 'article_date' => '2024-05-10 08:37:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '20931', 'article_category_id' => '1', 'title' => 'Nepal and Switzerland Partner for Local Development through Sustainable Tourism in Koshi Province', 'sub_title' => '', 'summary' => 'May 9: The Government of Nepal has signed an agreement with Switzerland to implement the Trail-based Tourism Development Project (TTDP) in Koshi Province.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: The Government of Nepal has signed an agreement with Switzerland to implement the Trail-based Tourism Development Project (TTDP) in Koshi Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The TTDP aims to promote local economic development and sustainable tourism by enhancing culturally and historically important trails in the high hills of Koshi Province, reads a statement issued by the Swiss Embassy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shree Krishna Nepal, joint-secretary of the Ministry of Finance and Dr Danielle Meuwly, Swiss Ambassador to Nepal, inked the agreement on behalf of their respective governments on Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement Switzerland will contribute CHF 9.01 million (about Rs 1.26 billion), while the Government of Nepal will inject approximately CHF 1.3 million (about Rs 186 million) for trail improvement and promotion over the next four years. The Koshi Province government and local governments will also contribute to the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The project will be implemented by 29 local governments in collaboration with the Koshi Provincial government. It will involve the construction of around 400 km of trails and is expected to create approximately 2,000 local jobs in tourism-related businesses, reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, around half a million person-days of employment will be generated through cash-for-work during the trail construction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon completion, the trails are projected to attract approximately 80,000 visitors annually, including domestic tourists and visitors from the region. This influx of visitors is expected to stimulate economic growth and contribute to the preservation of local culture and heritage, reads a press release issued by the Embassy of Switzerland in Nepal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20658', 'image' => '20240509073316_771.20-12.02.27_240509_TTDP_4.jpg', 'article_date' => '2024-05-09 19:32:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20930', 'article_category_id' => '1', 'title' => 'Nepal to Officially Start Assembling Hyundai Four-Wheelers from Friday', 'sub_title' => '', 'summary' => 'May 9: Globally acclaimed Hyundai cars are now going to be assembled in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">May 9: Globally acclaimed Hyundai cars are now going to be assembled in Nepal. Laxmi Motor Corporation, which is the authorized distributor of Hyundai vehicles for Nepal, is all set to inaugurate an assembly plant in Nepal within this week.</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:"ekmukta","serif"">The plant is about to be inaugurated on the 50th anniversary of the establishment of diplomatic relations between the Republic of Korea and Nepal. Prime Minister Pushpa Kamal Dahal is scheduled to attend the inauguration of the assembly plant on Friday.</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:"ekmukta","serif"">Laxmi Motor Corporation, the official dealer of Hyundai vehicles for Nepal, is a subsidiary of Laxmi Group.</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:"ekmukta","serif"">The company has already established the plant in Nawalparasi and has been assembling Hyundai Venue SUVs in the testing phase since the last six months.</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:"ekmukta","serif"">With the success of the trial production, Hyundai brand Venue is about to go into commercial production at the assembly plant. As it will be assembled in Nepal, it is believed that the price range will also be cheaper.</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:"ekmukta","serif"">The company claimed this is the first time that a four-wheeler assembly plant has come into operation in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">However, a decade ago, Hulas Motors had produced the Mustang Max in Nepal. Since the plant was closed due to pollution standards, there isn’t any other four-wheeler assembly plant operating in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">Six years ago, the Korean company Motrex had announced to open a car assembly plant in Nepal but the work was not progressed. </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:"ekmukta","serif"">Speaking to New Business Age, South Korean Ambassador to Nepal, Park Tae-Young said that after a company like Hyundai starts an assembly plant in Nepal, other Korean companies will also be encouraged to follow suit.</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:"ekmukta","serif"">“Like Nepal, Korea also entered the world market of automobiles through assembly plants. Nepal can also produce its own cars in the near future," 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:"ekmukta","serif"">According to the company, they have started importing and assembling 998 cc Venue S (O), 1197 cc Venue S 1.2 MT and 1197 cc Venue SX 1.2 MT model CKDs at the plant.</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:"ekmukta","serif"">The assembled vehicles are all powered by petrol engine.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20657', 'image' => '20240509041950_kkkk.jpg', 'article_date' => '2024-05-09 16:19:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20929', 'article_category_id' => '1', 'title' => 'South Korea to Hire Nepali Workers in Service and Forestry Sectors', 'sub_title' => '', 'summary' => 'May 9: South Korea has decided to take Nepali workers to two more new areas in 2024.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 9: South Korea has decided to take Nepali workers to two more new areas in 2024. Small and medium-sized manufacturing companies of South Korea with less than 300 employees and agriculture and animal husbandry sectors are currently hiring Nepali workers under the Korean government’s Employment Permit System (EPS).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"From the end of this year, Nepalese workers will also get employment opportunities in the service and forestry sectors in Korea under EPS," South Korean Ambassador to Nepal Park Tae-Young said in a press conference held on Wednesday, adding, "The quota for this has also been determined." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Maiya Kandel, director of EPS branch, said that lthough Korea usually does not hire workers by changing sectors, it has accepted the request made by the Government of Nepal to send the aspiring workers to the service sector from among those on the roster of manufacturing industry and agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the service sector, Nepalis will be permitted to work in hotels, restaurants, cooking and cleaning. According to Kandel, the number of Nepalis to be taken by Korea under the service sector has not been determined. She said that South Korea is yet to place the demand for the forestry sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">South Korea is one of the most attractive destinations for Nepali workers due to the high wages and social security arrangements compared to other countries, although the work done by the workers going under the EPS is menial job. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the EPS system, South Korea has been taking workers from 16 countries including Nepal. Other countries are Indonesia, Mongolia, Sri Lanka, the Philippines, Thailand, Vietnam, Uzbekistan, Pakistan, Cambodia, China, Bangladesh, Kyrgyzstan, East Timor and Laos. Compared to other countries, Korean companies have hired a large number of Nepali workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In 2023, Korea set a quota for 120,000 foreign workers under the EPS system, under which 19,739 Nepalis were hired, according to the Human Resources Development Services of Korea. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A quota of 165,000 has been set for the year 2024. With the increase in the total quota of foreign workers, the quota that Nepal will get has also increased. According to the EPS branch, the total quota for Nepal in 2024 has increased by 13.2 percent. Kandel said that the annual quota is currently around 15,800.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali workers have been going to South Korea for employment after the governments of Nepal and South Korea signed a ministerial-level agreement in July 2007 to hire Nepali workers under the EPS system. Under this G2G process, Nepalis can go to Korea for employment. The private sector has no role in this process.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Human Resources Development Services of Korea, 99,900 Nepalis have reached there from Nepal under EPS so far. According to the Ministry of Foreign Affairs, there are currently around 40,000 Nepalis working in Korea. Most of them have gone under EPS. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-09', 'modified' => '2024-05-09', 'keywords' => '', 'description' => '', 'sortorder' => '20656', 'image' => '20240509035114_Untitled-1.jpg', 'article_date' => '2024-05-09 15:50:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
