Kolkata Port Customs Officials Reluctant to Implement EDI System: Importers

Dec 14, 2020 0 4 minutes 19 seconds to read

December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata…

High Rent and Lack of Business Forcing Entrepreneurs of Thamel to Close their Business

Dec 14, 2020 0 2 minutes 59 seconds to read

December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven’t returned back to their business due to…

Department of Roads Terminates Contracts of 13 Defaulting Contractors

Dec 14, 2020 0 56 seconds to read

December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two…

India Positive about Nepal Exporting Electricity to Bangladesh

Dec 13, 2020 0 2 minutes 8 seconds to read

December 13: India has pledged to support Nepal in exporting electricity to the international market through its…

Government Registers Motion to Vacate Court Order Regarding Excise Duty Tender

Dec 13, 2020 0 2 minutes 22 seconds to read

December 13: The government has registered a motion to vacate the Supreme Court’s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign…

NAC Unable to Decide the Fate of Grounded Aircraft

Dec 13, 2020 0 4 minutes 1 seconds to read

December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July…

NOC Hikes Prices of Petroleum Products

Dec 13, 2020 0 1 minutes 24 seconds to read

December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum…

China's Proposes Rebuilding Araniko Highway

Dec 13, 2020 0 2 minutes 8 seconds to read

December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China.…

Bookings Open for Ford EcoSport at 2020 price

Dec 11, 2020 0 1 minutes 28 seconds to read

December 11: GO Automobiles, the authorized dealer of Ford vehicles in Nepal, has open fresh bookings for Ford EcoSport.…

Central Bank Committed to Digital Economy: Governor Adhikari

Dec 11, 2020 0 2 minutes 43 seconds to read

December 11: Nepal Rastra Bank’s Governor Maha Prasad Adhikari has said that the central bank is committed to the develop digital economy and promote financial system in Nepal.…

Nepal’s Credit Rating Suspended until Situation Becomes Normal

Dec 11, 2020 0 4 minutes 16 seconds to read

December 11: Fitch Ratings, which has been assigned for sovereign credit rating of Nepal, has decided to postpone the assigned task for the time being.…

Finance Minister Urges South Korea to Increase Investment

Dec 11, 2020 0 1 minutes 40 seconds to read

December 11: Finance Minister Bishnu Prasad Poudel has requested South Korea to increase investment in education, health, tourism, and infrastructure sectors of Nepal.…

Nepal and India Agree to Resume Regular Flights under Air Transport Bubble Scheme

Dec 11, 2020 0 2 minutes 37 seconds to read

December 11: Nepal and India have agreed to resume regular flights after nine months. Nepal has agreed to the air transport bubble scheme proposed by India to resume the flight service.…

OPPO Announces ‘O-Fans Festival’

Dec 11, 2020 0 2 minutes 43 seconds to read

December 11: Chinese smartphone brand OPPO has launched its "O-Fans Festival" campaign.…

Everest Bank Extends Support to Zonta Club of Kathmandu

Dec 10, 2020 0 1 minutes 10 seconds to read

December 10: Everest Bank provided financial support of Rs 250,000 to Zonta Club of Kathmandu under its Corporate Social Responsibility…

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By Madan Lamsal

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NEPSE

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			'id' => '12800',
			'article_category_id' => '1',
			'title' => 'Kolkata Port Customs Officials Reluctant to Implement EDI System: Importers',
			'sub_title' => '',
			'summary' => 'December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port. Although the system was introduced to make the customs clearance process fast and transparent, the importers are yet to benefit from the scheme. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system is implemented for goods entering Nepal under the Customs Transit Declaration (CTD). It was said that the importers could complete all required procedures from their office for importing the goods using the EDI system. However, the importers complain that they have to be present at the customs office of the port in person to clear the goods. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system was made mandatory at Kolkata Port from late September to remove the hassles of paper works for transit of goods from third countries. This system was available before that period but was reportedly not implemented effectively due to the vested interests of the customs officials at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that although the system is mandatory, they still have to go through the same old process. One of the importers complained that the completion of customs clearance process through online medium would deny the port customs officials from making under-the-table income and therefore they have not implemented it properly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indian authorities had made the new system mandatory for Nepal-bound goods. The system is fully implemented for goods imported by India for itself since before. But the customs officials are unwilling to implement it for Nepal-bound goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the cargo entering Nepal from Kolkata have to undergo CTD. In the first eight months of 2020, a total of 34,000 Nepal-bound containers have arrived at the port.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among them, 23,400 containers entered Nepal through road way, according to Nepal Transshipment and Warehouse Management Company. CTD containers are also transported through railway. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that the is a provision to fill the form online for the Customs Transit Declaration. However they say they are still called to the port with all the files.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;When there is no contact with the agent, the port customs officials cannot make unauthorized and illegal income. Therefore, they have not been complying with the system under various pretexts,&rdquo; said the importer requesting not to be named.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Some people working for the Nepali importers are also involved in it,&rdquo; added the source.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the CTD process, importers have to submit the bill of the goods, packing list, certificate of origin, and the certificate provided by the Kolkata-based consulate to the port. According to the customs house agent, all these documents can be submitted online if the EDI is implemented properly. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Consul General at&nbsp; Kolkata-based Consulate Ishwar Raj Poudel says that they are trying to resolve the problems related to this issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are making efforts to make the EDI system fully automated,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have also suggested the consulate to make provisions to amend the mistakes and to change the route in EDI system.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'High Rent and Lack of Business Forcing Entrepreneurs of Thamel to Close their Business',
			'sub_title' => '',
			'summary' => 'December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven’t returned back to their business due to coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven&rsquo;t returned back to their business due to coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The shopkeepers had closed their shutters and left after their business was impacted by the pandemic. They have not yet resumed their business even after nine months since the lockdown was first imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">More than 700 individuals operating hotels, restaurants, travel agencies, money exchange, handicraft shops among others were involved in brisk business in areas like Thamel, Paknajol, Chhetrapati, Kaldhara and Naradevi. But they were forced to abandon their business due to the impact of lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice Chairman of Thamel Tourism Development Council Bhabishwar Sharma says that the tourism entrepreneurs and businessmen have not resumed business considering that it would take some more time for the tourism industry to return back to normal business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Sharma, although people related to other businesses have returned back in small numbers those involved in tourism sector are not in a position to return.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The business is not good and the rent is too high. Therefore, the businessmen are not willing to resume their business at the moment. They are&nbsp; in a wait and watch mood,&rdquo; said Sharma.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sharma informed that there are around 10,000 entrepreneurs involved in small to&nbsp; big businesses in Thamel area. Since it is the most vibrant area for tourism business, the rent here is exorbitantly high. The rental charge in Thamel area is anything between Rs 15,000 to Rs 4.5 million per month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bikash Lama, one of the entrerepeurs of Thamel, says there is no business and therefore the businessmen are not willing to return just to pay the costly rent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People involved in various businesses have closed their shops while there is no possibility for new businesses to flourish given the current situation. The landlords are unwilling to lower the rent. This has forced the businessmen to look for better and less costly alternatives to continue their business. Only a few landlords and business entrepreneurs have reportedly agreed to sign a deal to lower the rent while others are said to have shifted elsewhere.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12803',
			'article_category_id' => '1',
			'title' => 'Department of Roads Terminates Contracts of 13 Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.<br />
The Commission for the Investigation of Abuse of Authority had identified 906 contract defaults under the department in its &#39;Study Management and Analysis Report of&nbsp;Contract Defaults 2075 BS made public two years ago.<br />
Although the number of contracts terminated is less, the department has improved settling the issues with the defaulting contractors. As per the first quarterly report of the department in the current fiscal year (FY) 2077/78, the number of contracts that have been resolved is 491 while the number of contract termination is 210.<br />
The report states that the number of issues settled is 98, and the number of projects handed over to the state and local levels is 170.<br />
The internal study of the Department of Roads shows that the number of projects that had their contract extended after the fiscal year 2066-67 is 1397. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12798',
			'article_category_id' => '1',
			'title' => 'India Positive about Nepal Exporting Electricity to Bangladesh ',
			'sub_title' => '',
			'summary' => 'December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory. Indian authorities said that they are planning to adopt a policy to allow Nepal export its electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India made such commitment during the Eighth Nepal India Secretary-Level Energy Meeting held virtually on Friday. The two sides also agreed to hold a secretary-level meeting involving Nepal, India and Bangladesh in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Energy Secretary Dinesh Ghimire informed that the meeting has agreed to hold a tripartite meeting between secretaries of the three countries to clear the way for Nepal to sell its electricity to Bangladesh. It has been agreed that the foreign ministries of Nepal and India will make diplomatic efforts to call the meeting between the three countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;India is positive about Nepal exporting electricity to Bangladesh through its territory. The matter will be finalized after a secretary-level meeting between the three countries,&rdquo; said Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal and India have been holding secretary-level meetings to implement the Power Trade Agreement (PTA) ever since signing the deal on October 21, 2014. The two countries have been holding the meeting on rotation basis. The latest meeting didn&rsquo;t have any new agenda but dwelt on progress review of the decisions taken in the past, according to Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Secretary Ghimire also informed that India was positive about energy banking between the two countries. During the previous meeting, India had pledged to amend its directives on import and export of electricity to incorporate the concept of energy banking between Nepal and India. However, India is yet to amend the directives.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12797',
			'article_category_id' => '1',
			'title' => 'Government Registers Motion to Vacate Court Order Regarding Excise Duty Tender',
			'sub_title' => '',
			'summary' => 'December 13: The government has registered a motion to vacate the Supreme Court’s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: The government has registered a motion to vacate the Supreme Court&rsquo;s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Office of the Attorney General registered the motion to vacate the order stating that the domestic companies are unable to guarantee the quality of excise duty stickers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In its reply to the Supreme Court, Director General of the Inland Revenue Department Binod Bahadur Kunwar argued that the department opted for including international companies for the bidding process to print the stickers after a study conducted by the IRD found that the domestic companies did not have the capacity to print quality excise duty stickers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had called for international tender bids on October 14 to print the excise duty stickers after the department started running out of stock.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had given the deadline of November 29 to submit the proposals. On the final day of submission of the proposals, Mohan Raj Ghimire of Miraj Printing filed a petition at the Supreme Court against the tender process. A single bench of Justice Tej Bahadur KC then issued an interim order to stay the decision of the department. The apex court order effectively halted the process of tender undertaken by the department.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali businessmen have accused the department of setting certain criteria in the tender which the domestic companies cannot meet. Therefore, they have been accusing the government of trying to award the contract to foreign companies by making it impossible for the local companies to compete in the bidding process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the department says that the Nepali companies do not have the expertise to print the stickers as per the government&rsquo;s requirement.</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'NAC Unable to Decide the Fate of Grounded Aircraft',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30. The state-owned airline company is looking for alternatives after the Ministry of Finance said that it is the responsibility of NAC to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A board meeting of NAC decided to ground the Chinese aircraft after the company faced losses more Rs 5 billion while operating those aircraft during the last five years.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been more than four months since NAC took the decision to ground the aircraft but has failed to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC board had written a letter to the Ministry of Culture, Tourism and Civil Aviation in July that it is not viable to operate the Chinese aircraft and had also requested the ministry to seek alternatives for the management of the aircraft. The tourism ministry sought advice from the finance ministry regarding this matter. The Ministry of Finance then informed that the NAC itself should be handed the responsibility of managing the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of NAC Dim Prasad Poudel says they are weighing various options for managing the grounded aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned NAC is considering either to return the Y-12 E and MA-60 aircraft to AVIC International Holding Corporation or to issue tender notice for selling the aircraft. Renting the aircraft to other companies is also one of the options while the fourth alternative is to hand over the aircraft as down-payment while procuring new aircraft. NAC is coordinating with the tourism ministry for considering one of the four options for the management of the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The flag carrier of Nepal had procured four Y-12 aircraft with seating capacity of 18 and two 56-seater MA-60 aircraft from a Chinese company in 2015. Among those aircraft, only one MA-60 and one Y-12 are in a condition to fly. The other MA-60 aircraft and two Y-12 were grounded since a long time. Another Y-12 met with an accident during a domestic flight. The aircraft were purchased with a concessional loan and grant of Rs 5.2 billion from China.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The NAC board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft, said a source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span> <span style="font-size:15.0pt"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">NAC is planning to procure new aircraft for domestic flights but is unable to do so until it manages the grounded aircraft.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12794',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Prices of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to NOC Spokesperson, Binit Mani Upadhyaya, the price of petrol has been raised by Re 1 per litre. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly diesel and kerosene prices also surged by Rs 2 per litre effective from Saturday midnight, NOC said in a statement. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After the price hike, the retail price of petrol has been fixed at Rs 108 per litre while diesel and kerosene will now cost Rs 91 per litre.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned oil monopoly has not changed the price of aviation turbine fuel and cooling gas (liquefied petroleum gas).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The latest fuel price hike has been based on automatic fuel pricing mechanism according to the new IOC list provided by the Indian Oil Corporation.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-12-13',
			'modified' => '2020-12-13',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12542',
			'image' => '20201213112908_1607790433.petrol-diesel-1.jpg',
			'article_date' => '2020-12-13 11:28:27',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12796',
			'article_category_id' => '1',
			'title' => 'China's Proposes Rebuilding Araniko Highway',
			'sub_title' => '',
			'summary' => 'December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. Various sections of the highway have been damaged by earthquakes and recurring floods. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese government has proposed to rebuild the highway at a cost of 80 million yuan (Rs 1.44 billion).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;<span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese embassy has sent a proposal for reconstructing the Araniko Highway damaged by the 2072 earthquakes and subsequent landslides as well as repeated floods, according to the Development Aid Implementation Division under the Department of Roads (DoR).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Even though the Chinese government has pledged to rebuild the highway, the repair work is unlikely to begin immediately. Department of Roads informed that the Chinese construction team is unlikely to arrive due to the Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the Department of Roads, the Chinese government has proposed to rebuild the section from Panchkhal to Kodari of Araniki Highway. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the proposal, the road will not be upgraded but reconstruction work will be done in the places damaged by the earthquake and rain. Roads have been damaged in more than 60 locations across the highway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">At present, it is difficult to operate traffic on the highway due to damages that occurred at the bridges as well as road sections in Kothe, Lamosanghu Barhabise, Khursanibari, Sirise, Khagdol, Jambu, Jhale, Daklank, Upper Bhotekoshi Dam area and Ghatte Khola.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12793',
			'article_category_id' => '236',
			'title' => 'Bookings Open for Ford EcoSport at 2020 price',
			'sub_title' => '',
			'summary' => 'December 11: GO Automobiles, the authorized dealer of Ford vehicles in Nepal, has open fresh bookings for Ford EcoSport. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">December 11: GO Automobiles, the authorized dealer of Ford vehicles in Nepal, has open fresh bookings for Ford EcoSport. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">According to the company, the model has been sold out for the year 2020 and bookings have been opened for 2021. The vehicles will be available at the price of 2020, the company said in a statement. However, this offer will be available for only for a limited period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">GO Automobiles said that the 2021 EcoSport offers Ford&rsquo;s latest&nbsp;three-cylinder&nbsp;1.5-liter&nbsp;Ti-VCT&nbsp;petrol engine that delivers segment best 122 PS of power and 149 Nm of torque. The petrol engine will continue to be paired with both&nbsp;five-speed&nbsp;manual transmission and&nbsp;six-speed&nbsp;automatic transmission, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&ldquo;The&nbsp;line-up&nbsp;will also include BSVI compliant 1.5l TDCi diesel engine that delivers&nbsp;best-in-class&nbsp;100 PS power and 215 Nm of Torque . The diesel engine is available with&nbsp;five-speed&nbsp;manual transmission.&rdquo;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;The company is also offering standard&nbsp;3-year&nbsp;or 100,000 km factory warranty for the 2021 Ford EcoSport lineup.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12792',
			'article_category_id' => '1',
			'title' => 'Central Bank Committed to Digital Economy: Governor Adhikari',
			'sub_title' => '',
			'summary' => 'December 11: Nepal Rastra Bank’s Governor Maha Prasad Adhikari has said that the central bank is committed to the develop digital economy and promote financial system in Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 11: Nepal Rastra Bank&rsquo;s Governor Maha Prasad Adhikari has said that the central bank is committed to the develop digital economy and promote financial system in Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Governor Adhikari made such remarks during the virtual inauguration of Singapore FinTech Festival on Thursday (December 10). The festival is being organised by the United Nations Capital Development Fund and Singapore Monetary Authority.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Speaking on the topic of digital payment for agriculture, Governor Adhikari said that&nbsp; Nepal Rastra Bank in capacity of the financial sector regulator has realized its role for the development of digital economy of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He revealed that the Government of Nepal has already initiated an ambitious project named Digital Nepal for promoting digital economy in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;This initiative will play a vital role in transforming the economy, administrative system and social activities,&rdquo; said Governor Adhikari.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Governor Adhikari further informed that the Government of Nepal as well as the central bank have given high priority for electronic transaction and payment system in recent days. He also said that the central bank has made necessary arrangements including legal provisions as well as policy-level decisions to implement the use of digital transaction in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that the importance of digital transaction has been clearly visible due to the coronavirus pandemic and also stressed on the need for digital payment in agriculture as well.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He suggested expanding digital payment system from urban areas to rural areas and to connect local farmers with e-commerce system.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stating that that 28 percent of Nepal&rsquo;s total GDP and almost two-thirds population are dependent on Agriculture, Governor Adhikari said that traditional farmers must focus on commercial farming. He said that the monetary policy has provision for credit card facilities and bonds for the farmers in order to make them competitive in the commercial market.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12790',
			'article_category_id' => '1',
			'title' => 'Nepal’s Credit Rating Suspended until Situation Becomes Normal',
			'sub_title' => '',
			'summary' => 'December 11: Fitch Ratings, which has been assigned for sovereign credit rating of Nepal, has decided to postpone the assigned task for the time being. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 11: Fitch Ratings, which has been assigned for sovereign credit rating of Nepal, has decided to postpone the assigned task for the time being. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The international company was preparing to complete the credit rating of Nepal within the first six months of the current fiscal year. However, the process has been postponed because of the impact of coronavirus on the country&rsquo;s economy.&nbsp; The rating will be suspended until the economy returns to normalcy.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Ratings Oversight Committee, formed under the coordination of revenue secretary of Ministry of Finance (MoF) had given the task of Nepal&rsquo;s credit rating to the US-based company before March after conducting discussions and necessary studies. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Moody&rsquo;s, Fitch and Standard and Poor&rsquo;s are the three major global credit rating agencies. Among them, the committee selected Fitch for conducing Nepal&rsquo;s ratings. But the process has been suspended due to coronavirus, informed Revenue Secretary Ram Sharan Pudasaini.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the credit rating will resume once the situation&nbsp; becomes normal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;This is not the appropriate time for conducting credit rating because of the pandemic. During this situation, Nepal&rsquo;s major economic indicators will not be satisfactory. Study conducted in such circumstances will not yield good result,&rdquo; he told New Business Age.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti, who is also a member of the committee, informed that Fitch has been conducting some works related to the credit rating but it has to visit Nepal to complete the work. The company is currently unable to come to Nepal for conducting the study.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Foreign consultants and technicians need to come here for the study. But that is not possible at the moment,&rdquo; said the deputy governor.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Fitch will have to collect data from the concerned offices upon visiting Nepal. The committee informed that Fitch has been carrying out other works that can be done remotely.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Members of the Ratings Oversight Committee include NRB Deputy Governor Shivakoti, chairman of the Insurance Board, Chairman of the Securities Board of Nepal and chief of the Central Bureau of Statistics. Standard Chartered Bank, Singapore is the consultant company for the credit rating. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The budget of the current fiscal year has mentioned that the credit rating will be completed within the first six months of the fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Stakeholders have been urging for sovereign rating saying that the absence of the rating has hugely impacted foreign direct investment (FDI) prospects of Nepal. &nbsp;Nevertheless, about half a dozen banks and financial institutions have borrowed billions of rupees in loans from foreign financial institutions over the last few years although the country does not have its credit rating. The banks say that the process of obtaining foreign loan would have been much easier if the country had credit rating.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Statistics related to economic activities in the country, ability to repay loans, trade with other countries and other various aspects are assessed while conducting sovereign rating. According to officials at Credit Rating Oversight Committee, the rating will form a basis for easy access to funds in the international market and sales of bonds. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Experts say that the sovereign rating helps to depict the real economic and financial situation of Nepal internationally.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12791',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges South Korea to Increase Investment ',
			'sub_title' => '',
			'summary' => 'December 11: Finance Minister Bishnu Prasad Poudel has requested South Korea to increase investment in education, health, tourism, and infrastructure sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 11: Finance Minister Bishnu Prasad Poudel has requested South Korea to increase investment in education, health, tourism, and infrastructure sectors of Nepal. Thanking South Korea for its current assistance in the field of education, health and infrastructure development through the Korea International Cooperation Agency (KOICA), Poudel during a bilateral meeting with South Korean Ambassador to Nepal Park Yong-sik urged for more investment. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Stating that mutual cooperation between Nepal and South Korea is increasing in the area of trade, investment and employment, Finance Minister Poudel said that Nepalis have been going to South Korea for employment through EPS (Employment Permit System) and the country has benefited by using the skills learned there in Nepal. He also thanked the South Korean government for its support and cooperation in Nepal&#39;s efforts against Covid-19. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He further said that the Ministry of Finance supports the projects being implemented in Nepal with the support of the South Korean government. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">During the meeting, Ambassador Yong-sik briefed about the assistance provided by the South Korean government to Nepal in various fields and said that the assistance would be extended in the field of technical and vocational education. He said they would coordinate to increase investment from South Korea&rsquo;s private sector. Likewise, he also said that the South Korean government would actively contribute to the prevention, control and treatment of COVID-19. </span></span></span></span></p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '12537',
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			'article_date' => '2020-12-11 12:46:45',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12788',
			'article_category_id' => '1',
			'title' => 'Nepal and India Agree to Resume Regular Flights under Air Transport Bubble Scheme',
			'sub_title' => '',
			'summary' => 'December 11: Nepal and India have agreed to resume regular flights after nine months. Nepal has agreed to the air transport bubble scheme proposed by India to resume the flight service. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 11: Nepal and India have agreed to resume regular flights after nine months. Nepal has agreed to the air transport bubble scheme proposed by India to resume the flight service. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Regular flights between Nepal and India were disrupted since March 24 after the government imposed lockdown to control the spread of coronavirus. Last month, India had proposed the air transport bubble scheme for taking back the citizens of different countries from Nepal. However, the government had not agreed to the proposal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After the government imposed lockdown, it also banned international flights for five months. Regular international flights to and from Nepal resumed on September 1 but the flight to India remained suspended due to high rate of&nbsp; infection in the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the air bubble scheme, both countries will be allowed to operate flights between New Delhi and Kathmandu with only one airline company. Nepal has selected the state-owned Nepal Airlines Corporation to conduct flight one flight per day between Kathmandu and New Delhi while Indian Airlines will be operating flights on behalf of India, informed the Civil Aviation&nbsp; Authority of Nepal (CAAN).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson of CAAN Raj Kumar Chhetri informed that regular flights between the two countries will resume within two to three days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Flights between Nepal and India will resume soon under the air transport bubble scheme. Under this scheme, only diplomats and the citizens of the two countries will be able to travel between the two countries,&rdquo; said Chhetri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chhetri clarified that citizens from third countries will not be allowed to travel under this scheme. The concept of air bubble is a scheme proposed by India to airlift stranded citizens from across the world during coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The travellers need to fill up the form online to travel under this scheme. They also need to present PCT test taken not more than 72 hours before the flight.</span></span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '12536',
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		'Article' => array(
			'id' => '12789',
			'article_category_id' => '237',
			'title' => 'OPPO Announces ‘O-Fans Festival’',
			'sub_title' => '',
			'summary' => 'December 11: Chinese smartphone brand OPPO has launched its "O-Fans Festival" campaign. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 1</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">1: Chinese smartphone brand </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">OPPO</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> has launched its &quot;O-Fans Festival&quot; campaign. According to the company, the campaign is intended to appreciate and express the brand&rsquo;s gratitude towards its customers for their overwhelming love and support towards the brand since its initial phase.</span></span> </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The campaign which commenced from December 1 offers the customers of OPPO</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> with an amazing opportunity to win numerous attractive gifts on the purchase of OPPO devices.</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> The campaign will remain in effect till the January 10, 2021, the company said in a statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">&quot;Being a global company, OPPO has always believed in localization. Nepal is one of the priority markets for us. Its richness in cultures, traditions, and simplicity in diversity has always inspired us,&rdquo; said&nbsp; Bobby Zhao, CEO of OPPO Nepal, adding, &ldquo;Hence, intending to express our sincere gratitude towards our fans for their overwhelming love and support since our initial days we have introduced &quot;O-Fans Festival&quot; SMS campaign to share the happiness along with our valuable fans here in Nepal.&quot;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Throughout the campaign period, with every purchase of OPPO devices, customers can participate in the campaign by sending SMS as Ofans &lt;Space&gt; IMEI to &ldquo;37001&rdquo; for OPPO phones to get attractive prizes. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">For the purchase of its recent addition of IoT devices, customers need to type Ofans &lt;Space&gt; CMEI or DC Code and send them to &quot;37001&quot;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">One lucky winner will be chosen every week and will be awarded a special gift hamper, said OPPO.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Winners will be announced at the end of each week via OPPO Nepal&#39;s official social media platforms, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The participants who were not chosen as winners will still stand a chance to participate in upcoming consecutive lucky draws automatically. Therefore, once participation is done they will stand a chance to win till the very last lucky draw. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12786',
			'article_category_id' => '266',
			'title' => 'Everest Bank Extends Support to Zonta Club of Kathmandu ',
			'sub_title' => '',
			'summary' => 'December 10: Everest Bank provided financial support of Rs 250,000 to Zonta Club of Kathmandu under its Corporate Social Responsibility (CSR)',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">December 10: Everest Bank provided financial support of Rs 250,000 to Zonta Club of Kathmandu under its Corporate Social Responsibility (CSR)</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">Everest Bank said in a statement that it has been conducting various CSR programmes and supporting different social clubs and organizations working for welfare activities during this COVID-19 pandemic. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">GK Negi, CEO of Everest Bank, handed over the cheque to Seema Golchha, president of Zonta Club of Kathmandu. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">Zonta has been helping the families who are highly affected by ongoing COVID-19 crisis and distributes pushcarts to sell vegetables and fruits. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt"><span style="font-family:&quot;Times New Roman&quot;">Everest Bank currently has a customer base of over 1.1 million and the bank is rendering its services through its network of 98 branches, 31 revenue collection counters, and 130 ATMs across the country.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12800',
			'article_category_id' => '1',
			'title' => 'Kolkata Port Customs Officials Reluctant to Implement EDI System: Importers',
			'sub_title' => '',
			'summary' => 'December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port. Although the system was introduced to make the customs clearance process fast and transparent, the importers are yet to benefit from the scheme. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system is implemented for goods entering Nepal under the Customs Transit Declaration (CTD). It was said that the importers could complete all required procedures from their office for importing the goods using the EDI system. However, the importers complain that they have to be present at the customs office of the port in person to clear the goods. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system was made mandatory at Kolkata Port from late September to remove the hassles of paper works for transit of goods from third countries. This system was available before that period but was reportedly not implemented effectively due to the vested interests of the customs officials at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that although the system is mandatory, they still have to go through the same old process. One of the importers complained that the completion of customs clearance process through online medium would deny the port customs officials from making under-the-table income and therefore they have not implemented it properly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indian authorities had made the new system mandatory for Nepal-bound goods. The system is fully implemented for goods imported by India for itself since before. But the customs officials are unwilling to implement it for Nepal-bound goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the cargo entering Nepal from Kolkata have to undergo CTD. In the first eight months of 2020, a total of 34,000 Nepal-bound containers have arrived at the port.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among them, 23,400 containers entered Nepal through road way, according to Nepal Transshipment and Warehouse Management Company. CTD containers are also transported through railway. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that the is a provision to fill the form online for the Customs Transit Declaration. However they say they are still called to the port with all the files.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;When there is no contact with the agent, the port customs officials cannot make unauthorized and illegal income. Therefore, they have not been complying with the system under various pretexts,&rdquo; said the importer requesting not to be named.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Some people working for the Nepali importers are also involved in it,&rdquo; added the source.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the CTD process, importers have to submit the bill of the goods, packing list, certificate of origin, and the certificate provided by the Kolkata-based consulate to the port. According to the customs house agent, all these documents can be submitted online if the EDI is implemented properly. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Consul General at&nbsp; Kolkata-based Consulate Ishwar Raj Poudel says that they are trying to resolve the problems related to this issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are making efforts to make the EDI system fully automated,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have also suggested the consulate to make provisions to amend the mistakes and to change the route in EDI system.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12799',
			'article_category_id' => '1',
			'title' => 'High Rent and Lack of Business Forcing Entrepreneurs of Thamel to Close their Business',
			'sub_title' => '',
			'summary' => 'December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven’t returned back to their business due to coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven&rsquo;t returned back to their business due to coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The shopkeepers had closed their shutters and left after their business was impacted by the pandemic. They have not yet resumed their business even after nine months since the lockdown was first imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">More than 700 individuals operating hotels, restaurants, travel agencies, money exchange, handicraft shops among others were involved in brisk business in areas like Thamel, Paknajol, Chhetrapati, Kaldhara and Naradevi. But they were forced to abandon their business due to the impact of lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice Chairman of Thamel Tourism Development Council Bhabishwar Sharma says that the tourism entrepreneurs and businessmen have not resumed business considering that it would take some more time for the tourism industry to return back to normal business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Sharma, although people related to other businesses have returned back in small numbers those involved in tourism sector are not in a position to return.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The business is not good and the rent is too high. Therefore, the businessmen are not willing to resume their business at the moment. They are&nbsp; in a wait and watch mood,&rdquo; said Sharma.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sharma informed that there are around 10,000 entrepreneurs involved in small to&nbsp; big businesses in Thamel area. Since it is the most vibrant area for tourism business, the rent here is exorbitantly high. The rental charge in Thamel area is anything between Rs 15,000 to Rs 4.5 million per month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bikash Lama, one of the entrerepeurs of Thamel, says there is no business and therefore the businessmen are not willing to return just to pay the costly rent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People involved in various businesses have closed their shops while there is no possibility for new businesses to flourish given the current situation. The landlords are unwilling to lower the rent. This has forced the businessmen to look for better and less costly alternatives to continue their business. Only a few landlords and business entrepreneurs have reportedly agreed to sign a deal to lower the rent while others are said to have shifted elsewhere.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Department of Roads Terminates Contracts of 13 Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.<br />
The Commission for the Investigation of Abuse of Authority had identified 906 contract defaults under the department in its &#39;Study Management and Analysis Report of&nbsp;Contract Defaults 2075 BS made public two years ago.<br />
Although the number of contracts terminated is less, the department has improved settling the issues with the defaulting contractors. As per the first quarterly report of the department in the current fiscal year (FY) 2077/78, the number of contracts that have been resolved is 491 while the number of contract termination is 210.<br />
The report states that the number of issues settled is 98, and the number of projects handed over to the state and local levels is 170.<br />
The internal study of the Department of Roads shows that the number of projects that had their contract extended after the fiscal year 2066-67 is 1397. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12798',
			'article_category_id' => '1',
			'title' => 'India Positive about Nepal Exporting Electricity to Bangladesh ',
			'sub_title' => '',
			'summary' => 'December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory. Indian authorities said that they are planning to adopt a policy to allow Nepal export its electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India made such commitment during the Eighth Nepal India Secretary-Level Energy Meeting held virtually on Friday. The two sides also agreed to hold a secretary-level meeting involving Nepal, India and Bangladesh in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Energy Secretary Dinesh Ghimire informed that the meeting has agreed to hold a tripartite meeting between secretaries of the three countries to clear the way for Nepal to sell its electricity to Bangladesh. It has been agreed that the foreign ministries of Nepal and India will make diplomatic efforts to call the meeting between the three countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;India is positive about Nepal exporting electricity to Bangladesh through its territory. The matter will be finalized after a secretary-level meeting between the three countries,&rdquo; said Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal and India have been holding secretary-level meetings to implement the Power Trade Agreement (PTA) ever since signing the deal on October 21, 2014. The two countries have been holding the meeting on rotation basis. The latest meeting didn&rsquo;t have any new agenda but dwelt on progress review of the decisions taken in the past, according to Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Secretary Ghimire also informed that India was positive about energy banking between the two countries. During the previous meeting, India had pledged to amend its directives on import and export of electricity to incorporate the concept of energy banking between Nepal and India. However, India is yet to amend the directives.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12797',
			'article_category_id' => '1',
			'title' => 'Government Registers Motion to Vacate Court Order Regarding Excise Duty Tender',
			'sub_title' => '',
			'summary' => 'December 13: The government has registered a motion to vacate the Supreme Court’s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: The government has registered a motion to vacate the Supreme Court&rsquo;s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Office of the Attorney General registered the motion to vacate the order stating that the domestic companies are unable to guarantee the quality of excise duty stickers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In its reply to the Supreme Court, Director General of the Inland Revenue Department Binod Bahadur Kunwar argued that the department opted for including international companies for the bidding process to print the stickers after a study conducted by the IRD found that the domestic companies did not have the capacity to print quality excise duty stickers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had called for international tender bids on October 14 to print the excise duty stickers after the department started running out of stock.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had given the deadline of November 29 to submit the proposals. On the final day of submission of the proposals, Mohan Raj Ghimire of Miraj Printing filed a petition at the Supreme Court against the tender process. A single bench of Justice Tej Bahadur KC then issued an interim order to stay the decision of the department. The apex court order effectively halted the process of tender undertaken by the department.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali businessmen have accused the department of setting certain criteria in the tender which the domestic companies cannot meet. Therefore, they have been accusing the government of trying to award the contract to foreign companies by making it impossible for the local companies to compete in the bidding process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the department says that the Nepali companies do not have the expertise to print the stickers as per the government&rsquo;s requirement.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12795',
			'article_category_id' => '1',
			'title' => 'NAC Unable to Decide the Fate of Grounded Aircraft',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30. The state-owned airline company is looking for alternatives after the Ministry of Finance said that it is the responsibility of NAC to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A board meeting of NAC decided to ground the Chinese aircraft after the company faced losses more Rs 5 billion while operating those aircraft during the last five years.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been more than four months since NAC took the decision to ground the aircraft but has failed to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC board had written a letter to the Ministry of Culture, Tourism and Civil Aviation in July that it is not viable to operate the Chinese aircraft and had also requested the ministry to seek alternatives for the management of the aircraft. The tourism ministry sought advice from the finance ministry regarding this matter. The Ministry of Finance then informed that the NAC itself should be handed the responsibility of managing the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of NAC Dim Prasad Poudel says they are weighing various options for managing the grounded aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned NAC is considering either to return the Y-12 E and MA-60 aircraft to AVIC International Holding Corporation or to issue tender notice for selling the aircraft. Renting the aircraft to other companies is also one of the options while the fourth alternative is to hand over the aircraft as down-payment while procuring new aircraft. NAC is coordinating with the tourism ministry for considering one of the four options for the management of the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The flag carrier of Nepal had procured four Y-12 aircraft with seating capacity of 18 and two 56-seater MA-60 aircraft from a Chinese company in 2015. Among those aircraft, only one MA-60 and one Y-12 are in a condition to fly. The other MA-60 aircraft and two Y-12 were grounded since a long time. Another Y-12 met with an accident during a domestic flight. The aircraft were purchased with a concessional loan and grant of Rs 5.2 billion from China.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The NAC board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft, said a source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span> <span style="font-size:15.0pt"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">NAC is planning to procure new aircraft for domestic flights but is unable to do so until it manages the grounded aircraft.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12794',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Prices of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to NOC Spokesperson, Binit Mani Upadhyaya, the price of petrol has been raised by Re 1 per litre. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly diesel and kerosene prices also surged by Rs 2 per litre effective from Saturday midnight, NOC said in a statement. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After the price hike, the retail price of petrol has been fixed at Rs 108 per litre while diesel and kerosene will now cost Rs 91 per litre.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned oil monopoly has not changed the price of aviation turbine fuel and cooling gas (liquefied petroleum gas).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The latest fuel price hike has been based on automatic fuel pricing mechanism according to the new IOC list provided by the Indian Oil Corporation.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-12-13',
			'modified' => '2020-12-13',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12542',
			'image' => '20201213112908_1607790433.petrol-diesel-1.jpg',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12796',
			'article_category_id' => '1',
			'title' => 'China's Proposes Rebuilding Araniko Highway',
			'sub_title' => '',
			'summary' => 'December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. Various sections of the highway have been damaged by earthquakes and recurring floods. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese government has proposed to rebuild the highway at a cost of 80 million yuan (Rs 1.44 billion).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;<span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese embassy has sent a proposal for reconstructing the Araniko Highway damaged by the 2072 earthquakes and subsequent landslides as well as repeated floods, according to the Development Aid Implementation Division under the Department of Roads (DoR).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Even though the Chinese government has pledged to rebuild the highway, the repair work is unlikely to begin immediately. Department of Roads informed that the Chinese construction team is unlikely to arrive due to the Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the Department of Roads, the Chinese government has proposed to rebuild the section from Panchkhal to Kodari of Araniki Highway. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the proposal, the road will not be upgraded but reconstruction work will be done in the places damaged by the earthquake and rain. Roads have been damaged in more than 60 locations across the highway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">At present, it is difficult to operate traffic on the highway due to damages that occurred at the bridges as well as road sections in Kothe, Lamosanghu Barhabise, Khursanibari, Sirise, Khagdol, Jambu, Jhale, Daklank, Upper Bhotekoshi Dam area and Ghatte Khola.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12793',
			'article_category_id' => '236',
			'title' => 'Bookings Open for Ford EcoSport at 2020 price',
			'sub_title' => '',
			'summary' => 'December 11: GO Automobiles, the authorized dealer of Ford vehicles in Nepal, has open fresh bookings for Ford EcoSport. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">December 11: GO Automobiles, the authorized dealer of Ford vehicles in Nepal, has open fresh bookings for Ford EcoSport. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">According to the company, the model has been sold out for the year 2020 and bookings have been opened for 2021. The vehicles will be available at the price of 2020, the company said in a statement. However, this offer will be available for only for a limited period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">GO Automobiles said that the 2021 EcoSport offers Ford&rsquo;s latest&nbsp;three-cylinder&nbsp;1.5-liter&nbsp;Ti-VCT&nbsp;petrol engine that delivers segment best 122 PS of power and 149 Nm of torque. The petrol engine will continue to be paired with both&nbsp;five-speed&nbsp;manual transmission and&nbsp;six-speed&nbsp;automatic transmission, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&ldquo;The&nbsp;line-up&nbsp;will also include BSVI compliant 1.5l TDCi diesel engine that delivers&nbsp;best-in-class&nbsp;100 PS power and 215 Nm of Torque . The diesel engine is available with&nbsp;five-speed&nbsp;manual transmission.&rdquo;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;The company is also offering standard&nbsp;3-year&nbsp;or 100,000 km factory warranty for the 2021 Ford EcoSport lineup.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12792',
			'article_category_id' => '1',
			'title' => 'Central Bank Committed to Digital Economy: Governor Adhikari',
			'sub_title' => '',
			'summary' => 'December 11: Nepal Rastra Bank’s Governor Maha Prasad Adhikari has said that the central bank is committed to the develop digital economy and promote financial system in Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 11: Nepal Rastra Bank&rsquo;s Governor Maha Prasad Adhikari has said that the central bank is committed to the develop digital economy and promote financial system in Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Governor Adhikari made such remarks during the virtual inauguration of Singapore FinTech Festival on Thursday (December 10). The festival is being organised by the United Nations Capital Development Fund and Singapore Monetary Authority.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Speaking on the topic of digital payment for agriculture, Governor Adhikari said that&nbsp; Nepal Rastra Bank in capacity of the financial sector regulator has realized its role for the development of digital economy of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He revealed that the Government of Nepal has already initiated an ambitious project named Digital Nepal for promoting digital economy in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;This initiative will play a vital role in transforming the economy, administrative system and social activities,&rdquo; said Governor Adhikari.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Governor Adhikari further informed that the Government of Nepal as well as the central bank have given high priority for electronic transaction and payment system in recent days. He also said that the central bank has made necessary arrangements including legal provisions as well as policy-level decisions to implement the use of digital transaction in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that the importance of digital transaction has been clearly visible due to the coronavirus pandemic and also stressed on the need for digital payment in agriculture as well.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He suggested expanding digital payment system from urban areas to rural areas and to connect local farmers with e-commerce system.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stating that that 28 percent of Nepal&rsquo;s total GDP and almost two-thirds population are dependent on Agriculture, Governor Adhikari said that traditional farmers must focus on commercial farming. He said that the monetary policy has provision for credit card facilities and bonds for the farmers in order to make them competitive in the commercial market.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12790',
			'article_category_id' => '1',
			'title' => 'Nepal’s Credit Rating Suspended until Situation Becomes Normal',
			'sub_title' => '',
			'summary' => 'December 11: Fitch Ratings, which has been assigned for sovereign credit rating of Nepal, has decided to postpone the assigned task for the time being. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 11: Fitch Ratings, which has been assigned for sovereign credit rating of Nepal, has decided to postpone the assigned task for the time being. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The international company was preparing to complete the credit rating of Nepal within the first six months of the current fiscal year. However, the process has been postponed because of the impact of coronavirus on the country&rsquo;s economy.&nbsp; The rating will be suspended until the economy returns to normalcy.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Ratings Oversight Committee, formed under the coordination of revenue secretary of Ministry of Finance (MoF) had given the task of Nepal&rsquo;s credit rating to the US-based company before March after conducting discussions and necessary studies. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Moody&rsquo;s, Fitch and Standard and Poor&rsquo;s are the three major global credit rating agencies. Among them, the committee selected Fitch for conducing Nepal&rsquo;s ratings. But the process has been suspended due to coronavirus, informed Revenue Secretary Ram Sharan Pudasaini.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the credit rating will resume once the situation&nbsp; becomes normal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;This is not the appropriate time for conducting credit rating because of the pandemic. During this situation, Nepal&rsquo;s major economic indicators will not be satisfactory. Study conducted in such circumstances will not yield good result,&rdquo; he told New Business Age.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti, who is also a member of the committee, informed that Fitch has been conducting some works related to the credit rating but it has to visit Nepal to complete the work. The company is currently unable to come to Nepal for conducting the study.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Foreign consultants and technicians need to come here for the study. But that is not possible at the moment,&rdquo; said the deputy governor.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Fitch will have to collect data from the concerned offices upon visiting Nepal. The committee informed that Fitch has been carrying out other works that can be done remotely.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Members of the Ratings Oversight Committee include NRB Deputy Governor Shivakoti, chairman of the Insurance Board, Chairman of the Securities Board of Nepal and chief of the Central Bureau of Statistics. Standard Chartered Bank, Singapore is the consultant company for the credit rating. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The budget of the current fiscal year has mentioned that the credit rating will be completed within the first six months of the fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Stakeholders have been urging for sovereign rating saying that the absence of the rating has hugely impacted foreign direct investment (FDI) prospects of Nepal. &nbsp;Nevertheless, about half a dozen banks and financial institutions have borrowed billions of rupees in loans from foreign financial institutions over the last few years although the country does not have its credit rating. The banks say that the process of obtaining foreign loan would have been much easier if the country had credit rating.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Statistics related to economic activities in the country, ability to repay loans, trade with other countries and other various aspects are assessed while conducting sovereign rating. According to officials at Credit Rating Oversight Committee, the rating will form a basis for easy access to funds in the international market and sales of bonds. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Experts say that the sovereign rating helps to depict the real economic and financial situation of Nepal internationally.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12791',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges South Korea to Increase Investment ',
			'sub_title' => '',
			'summary' => 'December 11: Finance Minister Bishnu Prasad Poudel has requested South Korea to increase investment in education, health, tourism, and infrastructure sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 11: Finance Minister Bishnu Prasad Poudel has requested South Korea to increase investment in education, health, tourism, and infrastructure sectors of Nepal. Thanking South Korea for its current assistance in the field of education, health and infrastructure development through the Korea International Cooperation Agency (KOICA), Poudel during a bilateral meeting with South Korean Ambassador to Nepal Park Yong-sik urged for more investment. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Stating that mutual cooperation between Nepal and South Korea is increasing in the area of trade, investment and employment, Finance Minister Poudel said that Nepalis have been going to South Korea for employment through EPS (Employment Permit System) and the country has benefited by using the skills learned there in Nepal. He also thanked the South Korean government for its support and cooperation in Nepal&#39;s efforts against Covid-19. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He further said that the Ministry of Finance supports the projects being implemented in Nepal with the support of the South Korean government. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">During the meeting, Ambassador Yong-sik briefed about the assistance provided by the South Korean government to Nepal in various fields and said that the assistance would be extended in the field of technical and vocational education. He said they would coordinate to increase investment from South Korea&rsquo;s private sector. Likewise, he also said that the South Korean government would actively contribute to the prevention, control and treatment of COVID-19. </span></span></span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2020-12-11 12:46:45',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12788',
			'article_category_id' => '1',
			'title' => 'Nepal and India Agree to Resume Regular Flights under Air Transport Bubble Scheme',
			'sub_title' => '',
			'summary' => 'December 11: Nepal and India have agreed to resume regular flights after nine months. Nepal has agreed to the air transport bubble scheme proposed by India to resume the flight service. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 11: Nepal and India have agreed to resume regular flights after nine months. Nepal has agreed to the air transport bubble scheme proposed by India to resume the flight service. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Regular flights between Nepal and India were disrupted since March 24 after the government imposed lockdown to control the spread of coronavirus. Last month, India had proposed the air transport bubble scheme for taking back the citizens of different countries from Nepal. However, the government had not agreed to the proposal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After the government imposed lockdown, it also banned international flights for five months. Regular international flights to and from Nepal resumed on September 1 but the flight to India remained suspended due to high rate of&nbsp; infection in the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the air bubble scheme, both countries will be allowed to operate flights between New Delhi and Kathmandu with only one airline company. Nepal has selected the state-owned Nepal Airlines Corporation to conduct flight one flight per day between Kathmandu and New Delhi while Indian Airlines will be operating flights on behalf of India, informed the Civil Aviation&nbsp; Authority of Nepal (CAAN).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson of CAAN Raj Kumar Chhetri informed that regular flights between the two countries will resume within two to three days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Flights between Nepal and India will resume soon under the air transport bubble scheme. Under this scheme, only diplomats and the citizens of the two countries will be able to travel between the two countries,&rdquo; said Chhetri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chhetri clarified that citizens from third countries will not be allowed to travel under this scheme. The concept of air bubble is a scheme proposed by India to airlift stranded citizens from across the world during coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The travellers need to fill up the form online to travel under this scheme. They also need to present PCT test taken not more than 72 hours before the flight.</span></span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '12536',
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		'Article' => array(
			'id' => '12789',
			'article_category_id' => '237',
			'title' => 'OPPO Announces ‘O-Fans Festival’',
			'sub_title' => '',
			'summary' => 'December 11: Chinese smartphone brand OPPO has launched its "O-Fans Festival" campaign. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 1</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">1: Chinese smartphone brand </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">OPPO</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> has launched its &quot;O-Fans Festival&quot; campaign. According to the company, the campaign is intended to appreciate and express the brand&rsquo;s gratitude towards its customers for their overwhelming love and support towards the brand since its initial phase.</span></span> </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The campaign which commenced from December 1 offers the customers of OPPO</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> with an amazing opportunity to win numerous attractive gifts on the purchase of OPPO devices.</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> The campaign will remain in effect till the January 10, 2021, the company said in a statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">&quot;Being a global company, OPPO has always believed in localization. Nepal is one of the priority markets for us. Its richness in cultures, traditions, and simplicity in diversity has always inspired us,&rdquo; said&nbsp; Bobby Zhao, CEO of OPPO Nepal, adding, &ldquo;Hence, intending to express our sincere gratitude towards our fans for their overwhelming love and support since our initial days we have introduced &quot;O-Fans Festival&quot; SMS campaign to share the happiness along with our valuable fans here in Nepal.&quot;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Throughout the campaign period, with every purchase of OPPO devices, customers can participate in the campaign by sending SMS as Ofans &lt;Space&gt; IMEI to &ldquo;37001&rdquo; for OPPO phones to get attractive prizes. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">For the purchase of its recent addition of IoT devices, customers need to type Ofans &lt;Space&gt; CMEI or DC Code and send them to &quot;37001&quot;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">One lucky winner will be chosen every week and will be awarded a special gift hamper, said OPPO.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Winners will be announced at the end of each week via OPPO Nepal&#39;s official social media platforms, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The participants who were not chosen as winners will still stand a chance to participate in upcoming consecutive lucky draws automatically. Therefore, once participation is done they will stand a chance to win till the very last lucky draw. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12786',
			'article_category_id' => '266',
			'title' => 'Everest Bank Extends Support to Zonta Club of Kathmandu ',
			'sub_title' => '',
			'summary' => 'December 10: Everest Bank provided financial support of Rs 250,000 to Zonta Club of Kathmandu under its Corporate Social Responsibility (CSR)',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">December 10: Everest Bank provided financial support of Rs 250,000 to Zonta Club of Kathmandu under its Corporate Social Responsibility (CSR)</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">Everest Bank said in a statement that it has been conducting various CSR programmes and supporting different social clubs and organizations working for welfare activities during this COVID-19 pandemic. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">GK Negi, CEO of Everest Bank, handed over the cheque to Seema Golchha, president of Zonta Club of Kathmandu. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">Zonta has been helping the families who are highly affected by ongoing COVID-19 crisis and distributes pushcarts to sell vegetables and fruits. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt"><span style="font-family:&quot;Times New Roman&quot;">Everest Bank currently has a customer base of over 1.1 million and the bank is rendering its services through its network of 98 branches, 31 revenue collection counters, and 130 ATMs across the country.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12800',
			'article_category_id' => '1',
			'title' => 'Kolkata Port Customs Officials Reluctant to Implement EDI System: Importers',
			'sub_title' => '',
			'summary' => 'December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port. Although the system was introduced to make the customs clearance process fast and transparent, the importers are yet to benefit from the scheme. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system is implemented for goods entering Nepal under the Customs Transit Declaration (CTD). It was said that the importers could complete all required procedures from their office for importing the goods using the EDI system. However, the importers complain that they have to be present at the customs office of the port in person to clear the goods. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system was made mandatory at Kolkata Port from late September to remove the hassles of paper works for transit of goods from third countries. This system was available before that period but was reportedly not implemented effectively due to the vested interests of the customs officials at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that although the system is mandatory, they still have to go through the same old process. One of the importers complained that the completion of customs clearance process through online medium would deny the port customs officials from making under-the-table income and therefore they have not implemented it properly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indian authorities had made the new system mandatory for Nepal-bound goods. The system is fully implemented for goods imported by India for itself since before. But the customs officials are unwilling to implement it for Nepal-bound goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the cargo entering Nepal from Kolkata have to undergo CTD. In the first eight months of 2020, a total of 34,000 Nepal-bound containers have arrived at the port.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among them, 23,400 containers entered Nepal through road way, according to Nepal Transshipment and Warehouse Management Company. CTD containers are also transported through railway. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that the is a provision to fill the form online for the Customs Transit Declaration. However they say they are still called to the port with all the files.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;When there is no contact with the agent, the port customs officials cannot make unauthorized and illegal income. Therefore, they have not been complying with the system under various pretexts,&rdquo; said the importer requesting not to be named.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Some people working for the Nepali importers are also involved in it,&rdquo; added the source.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the CTD process, importers have to submit the bill of the goods, packing list, certificate of origin, and the certificate provided by the Kolkata-based consulate to the port. According to the customs house agent, all these documents can be submitted online if the EDI is implemented properly. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Consul General at&nbsp; Kolkata-based Consulate Ishwar Raj Poudel says that they are trying to resolve the problems related to this issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are making efforts to make the EDI system fully automated,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have also suggested the consulate to make provisions to amend the mistakes and to change the route in EDI system.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12799',
			'article_category_id' => '1',
			'title' => 'High Rent and Lack of Business Forcing Entrepreneurs of Thamel to Close their Business',
			'sub_title' => '',
			'summary' => 'December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven’t returned back to their business due to coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven&rsquo;t returned back to their business due to coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The shopkeepers had closed their shutters and left after their business was impacted by the pandemic. They have not yet resumed their business even after nine months since the lockdown was first imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">More than 700 individuals operating hotels, restaurants, travel agencies, money exchange, handicraft shops among others were involved in brisk business in areas like Thamel, Paknajol, Chhetrapati, Kaldhara and Naradevi. But they were forced to abandon their business due to the impact of lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice Chairman of Thamel Tourism Development Council Bhabishwar Sharma says that the tourism entrepreneurs and businessmen have not resumed business considering that it would take some more time for the tourism industry to return back to normal business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Sharma, although people related to other businesses have returned back in small numbers those involved in tourism sector are not in a position to return.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The business is not good and the rent is too high. Therefore, the businessmen are not willing to resume their business at the moment. They are&nbsp; in a wait and watch mood,&rdquo; said Sharma.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sharma informed that there are around 10,000 entrepreneurs involved in small to&nbsp; big businesses in Thamel area. Since it is the most vibrant area for tourism business, the rent here is exorbitantly high. The rental charge in Thamel area is anything between Rs 15,000 to Rs 4.5 million per month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bikash Lama, one of the entrerepeurs of Thamel, says there is no business and therefore the businessmen are not willing to return just to pay the costly rent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People involved in various businesses have closed their shops while there is no possibility for new businesses to flourish given the current situation. The landlords are unwilling to lower the rent. This has forced the businessmen to look for better and less costly alternatives to continue their business. Only a few landlords and business entrepreneurs have reportedly agreed to sign a deal to lower the rent while others are said to have shifted elsewhere.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12803',
			'article_category_id' => '1',
			'title' => 'Department of Roads Terminates Contracts of 13 Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.<br />
The Commission for the Investigation of Abuse of Authority had identified 906 contract defaults under the department in its &#39;Study Management and Analysis Report of&nbsp;Contract Defaults 2075 BS made public two years ago.<br />
Although the number of contracts terminated is less, the department has improved settling the issues with the defaulting contractors. As per the first quarterly report of the department in the current fiscal year (FY) 2077/78, the number of contracts that have been resolved is 491 while the number of contract termination is 210.<br />
The report states that the number of issues settled is 98, and the number of projects handed over to the state and local levels is 170.<br />
The internal study of the Department of Roads shows that the number of projects that had their contract extended after the fiscal year 2066-67 is 1397. </span></span></span></span></p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '12798',
			'article_category_id' => '1',
			'title' => 'India Positive about Nepal Exporting Electricity to Bangladesh ',
			'sub_title' => '',
			'summary' => 'December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory. Indian authorities said that they are planning to adopt a policy to allow Nepal export its electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India made such commitment during the Eighth Nepal India Secretary-Level Energy Meeting held virtually on Friday. The two sides also agreed to hold a secretary-level meeting involving Nepal, India and Bangladesh in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Energy Secretary Dinesh Ghimire informed that the meeting has agreed to hold a tripartite meeting between secretaries of the three countries to clear the way for Nepal to sell its electricity to Bangladesh. It has been agreed that the foreign ministries of Nepal and India will make diplomatic efforts to call the meeting between the three countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;India is positive about Nepal exporting electricity to Bangladesh through its territory. The matter will be finalized after a secretary-level meeting between the three countries,&rdquo; said Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal and India have been holding secretary-level meetings to implement the Power Trade Agreement (PTA) ever since signing the deal on October 21, 2014. The two countries have been holding the meeting on rotation basis. The latest meeting didn&rsquo;t have any new agenda but dwelt on progress review of the decisions taken in the past, according to Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Secretary Ghimire also informed that India was positive about energy banking between the two countries. During the previous meeting, India had pledged to amend its directives on import and export of electricity to incorporate the concept of energy banking between Nepal and India. However, India is yet to amend the directives.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12797',
			'article_category_id' => '1',
			'title' => 'Government Registers Motion to Vacate Court Order Regarding Excise Duty Tender',
			'sub_title' => '',
			'summary' => 'December 13: The government has registered a motion to vacate the Supreme Court’s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: The government has registered a motion to vacate the Supreme Court&rsquo;s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Office of the Attorney General registered the motion to vacate the order stating that the domestic companies are unable to guarantee the quality of excise duty stickers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In its reply to the Supreme Court, Director General of the Inland Revenue Department Binod Bahadur Kunwar argued that the department opted for including international companies for the bidding process to print the stickers after a study conducted by the IRD found that the domestic companies did not have the capacity to print quality excise duty stickers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had called for international tender bids on October 14 to print the excise duty stickers after the department started running out of stock.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had given the deadline of November 29 to submit the proposals. On the final day of submission of the proposals, Mohan Raj Ghimire of Miraj Printing filed a petition at the Supreme Court against the tender process. A single bench of Justice Tej Bahadur KC then issued an interim order to stay the decision of the department. The apex court order effectively halted the process of tender undertaken by the department.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali businessmen have accused the department of setting certain criteria in the tender which the domestic companies cannot meet. Therefore, they have been accusing the government of trying to award the contract to foreign companies by making it impossible for the local companies to compete in the bidding process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the department says that the Nepali companies do not have the expertise to print the stickers as per the government&rsquo;s requirement.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12795',
			'article_category_id' => '1',
			'title' => 'NAC Unable to Decide the Fate of Grounded Aircraft',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30. The state-owned airline company is looking for alternatives after the Ministry of Finance said that it is the responsibility of NAC to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A board meeting of NAC decided to ground the Chinese aircraft after the company faced losses more Rs 5 billion while operating those aircraft during the last five years.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been more than four months since NAC took the decision to ground the aircraft but has failed to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC board had written a letter to the Ministry of Culture, Tourism and Civil Aviation in July that it is not viable to operate the Chinese aircraft and had also requested the ministry to seek alternatives for the management of the aircraft. The tourism ministry sought advice from the finance ministry regarding this matter. The Ministry of Finance then informed that the NAC itself should be handed the responsibility of managing the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of NAC Dim Prasad Poudel says they are weighing various options for managing the grounded aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned NAC is considering either to return the Y-12 E and MA-60 aircraft to AVIC International Holding Corporation or to issue tender notice for selling the aircraft. Renting the aircraft to other companies is also one of the options while the fourth alternative is to hand over the aircraft as down-payment while procuring new aircraft. NAC is coordinating with the tourism ministry for considering one of the four options for the management of the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The flag carrier of Nepal had procured four Y-12 aircraft with seating capacity of 18 and two 56-seater MA-60 aircraft from a Chinese company in 2015. Among those aircraft, only one MA-60 and one Y-12 are in a condition to fly. The other MA-60 aircraft and two Y-12 were grounded since a long time. Another Y-12 met with an accident during a domestic flight. The aircraft were purchased with a concessional loan and grant of Rs 5.2 billion from China.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The NAC board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft, said a source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span> <span style="font-size:15.0pt"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">NAC is planning to procure new aircraft for domestic flights but is unable to do so until it manages the grounded aircraft.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12794',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Prices of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to NOC Spokesperson, Binit Mani Upadhyaya, the price of petrol has been raised by Re 1 per litre. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly diesel and kerosene prices also surged by Rs 2 per litre effective from Saturday midnight, NOC said in a statement. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After the price hike, the retail price of petrol has been fixed at Rs 108 per litre while diesel and kerosene will now cost Rs 91 per litre.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned oil monopoly has not changed the price of aviation turbine fuel and cooling gas (liquefied petroleum gas).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The latest fuel price hike has been based on automatic fuel pricing mechanism according to the new IOC list provided by the Indian Oil Corporation.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '12542',
			'image' => '20201213112908_1607790433.petrol-diesel-1.jpg',
			'article_date' => '2020-12-13 11:28:27',
			'homepage' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '12796',
			'article_category_id' => '1',
			'title' => 'China's Proposes Rebuilding Araniko Highway',
			'sub_title' => '',
			'summary' => 'December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. Various sections of the highway have been damaged by earthquakes and recurring floods. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese government has proposed to rebuild the highway at a cost of 80 million yuan (Rs 1.44 billion).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;<span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese embassy has sent a proposal for reconstructing the Araniko Highway damaged by the 2072 earthquakes and subsequent landslides as well as repeated floods, according to the Development Aid Implementation Division under the Department of Roads (DoR).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Even though the Chinese government has pledged to rebuild the highway, the repair work is unlikely to begin immediately. Department of Roads informed that the Chinese construction team is unlikely to arrive due to the Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the Department of Roads, the Chinese government has proposed to rebuild the section from Panchkhal to Kodari of Araniki Highway. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the proposal, the road will not be upgraded but reconstruction work will be done in the places damaged by the earthquake and rain. Roads have been damaged in more than 60 locations across the highway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">At present, it is difficult to operate traffic on the highway due to damages that occurred at the bridges as well as road sections in Kothe, Lamosanghu Barhabise, Khursanibari, Sirise, Khagdol, Jambu, Jhale, Daklank, Upper Bhotekoshi Dam area and Ghatte Khola.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12793',
			'article_category_id' => '236',
			'title' => 'Bookings Open for Ford EcoSport at 2020 price',
			'sub_title' => '',
			'summary' => 'December 11: GO Automobiles, the authorized dealer of Ford vehicles in Nepal, has open fresh bookings for Ford EcoSport. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">December 11: GO Automobiles, the authorized dealer of Ford vehicles in Nepal, has open fresh bookings for Ford EcoSport. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">According to the company, the model has been sold out for the year 2020 and bookings have been opened for 2021. The vehicles will be available at the price of 2020, the company said in a statement. However, this offer will be available for only for a limited period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">GO Automobiles said that the 2021 EcoSport offers Ford&rsquo;s latest&nbsp;three-cylinder&nbsp;1.5-liter&nbsp;Ti-VCT&nbsp;petrol engine that delivers segment best 122 PS of power and 149 Nm of torque. The petrol engine will continue to be paired with both&nbsp;five-speed&nbsp;manual transmission and&nbsp;six-speed&nbsp;automatic transmission, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&ldquo;The&nbsp;line-up&nbsp;will also include BSVI compliant 1.5l TDCi diesel engine that delivers&nbsp;best-in-class&nbsp;100 PS power and 215 Nm of Torque . The diesel engine is available with&nbsp;five-speed&nbsp;manual transmission.&rdquo;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;The company is also offering standard&nbsp;3-year&nbsp;or 100,000 km factory warranty for the 2021 Ford EcoSport lineup.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12540',
			'image' => '20201211013149_ECOSPORT-2021.jpg',
			'article_date' => '2020-12-11 13:31:10',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12792',
			'article_category_id' => '1',
			'title' => 'Central Bank Committed to Digital Economy: Governor Adhikari',
			'sub_title' => '',
			'summary' => 'December 11: Nepal Rastra Bank’s Governor Maha Prasad Adhikari has said that the central bank is committed to the develop digital economy and promote financial system in Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 11: Nepal Rastra Bank&rsquo;s Governor Maha Prasad Adhikari has said that the central bank is committed to the develop digital economy and promote financial system in Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Governor Adhikari made such remarks during the virtual inauguration of Singapore FinTech Festival on Thursday (December 10). The festival is being organised by the United Nations Capital Development Fund and Singapore Monetary Authority.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Speaking on the topic of digital payment for agriculture, Governor Adhikari said that&nbsp; Nepal Rastra Bank in capacity of the financial sector regulator has realized its role for the development of digital economy of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He revealed that the Government of Nepal has already initiated an ambitious project named Digital Nepal for promoting digital economy in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;This initiative will play a vital role in transforming the economy, administrative system and social activities,&rdquo; said Governor Adhikari.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Governor Adhikari further informed that the Government of Nepal as well as the central bank have given high priority for electronic transaction and payment system in recent days. He also said that the central bank has made necessary arrangements including legal provisions as well as policy-level decisions to implement the use of digital transaction in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that the importance of digital transaction has been clearly visible due to the coronavirus pandemic and also stressed on the need for digital payment in agriculture as well.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He suggested expanding digital payment system from urban areas to rural areas and to connect local farmers with e-commerce system.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stating that that 28 percent of Nepal&rsquo;s total GDP and almost two-thirds population are dependent on Agriculture, Governor Adhikari said that traditional farmers must focus on commercial farming. He said that the monetary policy has provision for credit card facilities and bonds for the farmers in order to make them competitive in the commercial market.</span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12539',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12790',
			'article_category_id' => '1',
			'title' => 'Nepal’s Credit Rating Suspended until Situation Becomes Normal',
			'sub_title' => '',
			'summary' => 'December 11: Fitch Ratings, which has been assigned for sovereign credit rating of Nepal, has decided to postpone the assigned task for the time being. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 11: Fitch Ratings, which has been assigned for sovereign credit rating of Nepal, has decided to postpone the assigned task for the time being. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The international company was preparing to complete the credit rating of Nepal within the first six months of the current fiscal year. However, the process has been postponed because of the impact of coronavirus on the country&rsquo;s economy.&nbsp; The rating will be suspended until the economy returns to normalcy.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Ratings Oversight Committee, formed under the coordination of revenue secretary of Ministry of Finance (MoF) had given the task of Nepal&rsquo;s credit rating to the US-based company before March after conducting discussions and necessary studies. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Moody&rsquo;s, Fitch and Standard and Poor&rsquo;s are the three major global credit rating agencies. Among them, the committee selected Fitch for conducing Nepal&rsquo;s ratings. But the process has been suspended due to coronavirus, informed Revenue Secretary Ram Sharan Pudasaini.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the credit rating will resume once the situation&nbsp; becomes normal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;This is not the appropriate time for conducting credit rating because of the pandemic. During this situation, Nepal&rsquo;s major economic indicators will not be satisfactory. Study conducted in such circumstances will not yield good result,&rdquo; he told New Business Age.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti, who is also a member of the committee, informed that Fitch has been conducting some works related to the credit rating but it has to visit Nepal to complete the work. The company is currently unable to come to Nepal for conducting the study.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Foreign consultants and technicians need to come here for the study. But that is not possible at the moment,&rdquo; said the deputy governor.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Fitch will have to collect data from the concerned offices upon visiting Nepal. The committee informed that Fitch has been carrying out other works that can be done remotely.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Members of the Ratings Oversight Committee include NRB Deputy Governor Shivakoti, chairman of the Insurance Board, Chairman of the Securities Board of Nepal and chief of the Central Bureau of Statistics. Standard Chartered Bank, Singapore is the consultant company for the credit rating. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The budget of the current fiscal year has mentioned that the credit rating will be completed within the first six months of the fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Stakeholders have been urging for sovereign rating saying that the absence of the rating has hugely impacted foreign direct investment (FDI) prospects of Nepal. &nbsp;Nevertheless, about half a dozen banks and financial institutions have borrowed billions of rupees in loans from foreign financial institutions over the last few years although the country does not have its credit rating. The banks say that the process of obtaining foreign loan would have been much easier if the country had credit rating.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Statistics related to economic activities in the country, ability to repay loans, trade with other countries and other various aspects are assessed while conducting sovereign rating. According to officials at Credit Rating Oversight Committee, the rating will form a basis for easy access to funds in the international market and sales of bonds. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Experts say that the sovereign rating helps to depict the real economic and financial situation of Nepal internationally.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12791',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges South Korea to Increase Investment ',
			'sub_title' => '',
			'summary' => 'December 11: Finance Minister Bishnu Prasad Poudel has requested South Korea to increase investment in education, health, tourism, and infrastructure sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 11: Finance Minister Bishnu Prasad Poudel has requested South Korea to increase investment in education, health, tourism, and infrastructure sectors of Nepal. Thanking South Korea for its current assistance in the field of education, health and infrastructure development through the Korea International Cooperation Agency (KOICA), Poudel during a bilateral meeting with South Korean Ambassador to Nepal Park Yong-sik urged for more investment. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Stating that mutual cooperation between Nepal and South Korea is increasing in the area of trade, investment and employment, Finance Minister Poudel said that Nepalis have been going to South Korea for employment through EPS (Employment Permit System) and the country has benefited by using the skills learned there in Nepal. He also thanked the South Korean government for its support and cooperation in Nepal&#39;s efforts against Covid-19. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He further said that the Ministry of Finance supports the projects being implemented in Nepal with the support of the South Korean government. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">During the meeting, Ambassador Yong-sik briefed about the assistance provided by the South Korean government to Nepal in various fields and said that the assistance would be extended in the field of technical and vocational education. He said they would coordinate to increase investment from South Korea&rsquo;s private sector. Likewise, he also said that the South Korean government would actively contribute to the prevention, control and treatment of COVID-19. </span></span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12537',
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			'article_date' => '2020-12-11 12:46:45',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12788',
			'article_category_id' => '1',
			'title' => 'Nepal and India Agree to Resume Regular Flights under Air Transport Bubble Scheme',
			'sub_title' => '',
			'summary' => 'December 11: Nepal and India have agreed to resume regular flights after nine months. Nepal has agreed to the air transport bubble scheme proposed by India to resume the flight service. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 11: Nepal and India have agreed to resume regular flights after nine months. Nepal has agreed to the air transport bubble scheme proposed by India to resume the flight service. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Regular flights between Nepal and India were disrupted since March 24 after the government imposed lockdown to control the spread of coronavirus. Last month, India had proposed the air transport bubble scheme for taking back the citizens of different countries from Nepal. However, the government had not agreed to the proposal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After the government imposed lockdown, it also banned international flights for five months. Regular international flights to and from Nepal resumed on September 1 but the flight to India remained suspended due to high rate of&nbsp; infection in the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the air bubble scheme, both countries will be allowed to operate flights between New Delhi and Kathmandu with only one airline company. Nepal has selected the state-owned Nepal Airlines Corporation to conduct flight one flight per day between Kathmandu and New Delhi while Indian Airlines will be operating flights on behalf of India, informed the Civil Aviation&nbsp; Authority of Nepal (CAAN).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson of CAAN Raj Kumar Chhetri informed that regular flights between the two countries will resume within two to three days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Flights between Nepal and India will resume soon under the air transport bubble scheme. Under this scheme, only diplomats and the citizens of the two countries will be able to travel between the two countries,&rdquo; said Chhetri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chhetri clarified that citizens from third countries will not be allowed to travel under this scheme. The concept of air bubble is a scheme proposed by India to airlift stranded citizens from across the world during coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The travellers need to fill up the form online to travel under this scheme. They also need to present PCT test taken not more than 72 hours before the flight.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12789',
			'article_category_id' => '237',
			'title' => 'OPPO Announces ‘O-Fans Festival’',
			'sub_title' => '',
			'summary' => 'December 11: Chinese smartphone brand OPPO has launched its "O-Fans Festival" campaign. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 1</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">1: Chinese smartphone brand </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">OPPO</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> has launched its &quot;O-Fans Festival&quot; campaign. According to the company, the campaign is intended to appreciate and express the brand&rsquo;s gratitude towards its customers for their overwhelming love and support towards the brand since its initial phase.</span></span> </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The campaign which commenced from December 1 offers the customers of OPPO</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> with an amazing opportunity to win numerous attractive gifts on the purchase of OPPO devices.</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> The campaign will remain in effect till the January 10, 2021, the company said in a statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">&quot;Being a global company, OPPO has always believed in localization. Nepal is one of the priority markets for us. Its richness in cultures, traditions, and simplicity in diversity has always inspired us,&rdquo; said&nbsp; Bobby Zhao, CEO of OPPO Nepal, adding, &ldquo;Hence, intending to express our sincere gratitude towards our fans for their overwhelming love and support since our initial days we have introduced &quot;O-Fans Festival&quot; SMS campaign to share the happiness along with our valuable fans here in Nepal.&quot;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Throughout the campaign period, with every purchase of OPPO devices, customers can participate in the campaign by sending SMS as Ofans &lt;Space&gt; IMEI to &ldquo;37001&rdquo; for OPPO phones to get attractive prizes. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">For the purchase of its recent addition of IoT devices, customers need to type Ofans &lt;Space&gt; CMEI or DC Code and send them to &quot;37001&quot;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">One lucky winner will be chosen every week and will be awarded a special gift hamper, said OPPO.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Winners will be announced at the end of each week via OPPO Nepal&#39;s official social media platforms, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The participants who were not chosen as winners will still stand a chance to participate in upcoming consecutive lucky draws automatically. Therefore, once participation is done they will stand a chance to win till the very last lucky draw. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12786',
			'article_category_id' => '266',
			'title' => 'Everest Bank Extends Support to Zonta Club of Kathmandu ',
			'sub_title' => '',
			'summary' => 'December 10: Everest Bank provided financial support of Rs 250,000 to Zonta Club of Kathmandu under its Corporate Social Responsibility (CSR)',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">December 10: Everest Bank provided financial support of Rs 250,000 to Zonta Club of Kathmandu under its Corporate Social Responsibility (CSR)</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">Everest Bank said in a statement that it has been conducting various CSR programmes and supporting different social clubs and organizations working for welfare activities during this COVID-19 pandemic. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">GK Negi, CEO of Everest Bank, handed over the cheque to Seema Golchha, president of Zonta Club of Kathmandu. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">Zonta has been helping the families who are highly affected by ongoing COVID-19 crisis and distributes pushcarts to sell vegetables and fruits. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt"><span style="font-family:&quot;Times New Roman&quot;">Everest Bank currently has a customer base of over 1.1 million and the bank is rendering its services through its network of 98 branches, 31 revenue collection counters, and 130 ATMs across the country.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12800',
			'article_category_id' => '1',
			'title' => 'Kolkata Port Customs Officials Reluctant to Implement EDI System: Importers',
			'sub_title' => '',
			'summary' => 'December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port. Although the system was introduced to make the customs clearance process fast and transparent, the importers are yet to benefit from the scheme. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system is implemented for goods entering Nepal under the Customs Transit Declaration (CTD). It was said that the importers could complete all required procedures from their office for importing the goods using the EDI system. However, the importers complain that they have to be present at the customs office of the port in person to clear the goods. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system was made mandatory at Kolkata Port from late September to remove the hassles of paper works for transit of goods from third countries. This system was available before that period but was reportedly not implemented effectively due to the vested interests of the customs officials at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that although the system is mandatory, they still have to go through the same old process. One of the importers complained that the completion of customs clearance process through online medium would deny the port customs officials from making under-the-table income and therefore they have not implemented it properly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indian authorities had made the new system mandatory for Nepal-bound goods. The system is fully implemented for goods imported by India for itself since before. But the customs officials are unwilling to implement it for Nepal-bound goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the cargo entering Nepal from Kolkata have to undergo CTD. In the first eight months of 2020, a total of 34,000 Nepal-bound containers have arrived at the port.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among them, 23,400 containers entered Nepal through road way, according to Nepal Transshipment and Warehouse Management Company. CTD containers are also transported through railway. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that the is a provision to fill the form online for the Customs Transit Declaration. However they say they are still called to the port with all the files.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;When there is no contact with the agent, the port customs officials cannot make unauthorized and illegal income. Therefore, they have not been complying with the system under various pretexts,&rdquo; said the importer requesting not to be named.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Some people working for the Nepali importers are also involved in it,&rdquo; added the source.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the CTD process, importers have to submit the bill of the goods, packing list, certificate of origin, and the certificate provided by the Kolkata-based consulate to the port. According to the customs house agent, all these documents can be submitted online if the EDI is implemented properly. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Consul General at&nbsp; Kolkata-based Consulate Ishwar Raj Poudel says that they are trying to resolve the problems related to this issue.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;We are making efforts to make the EDI system fully automated,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have also suggested the consulate to make provisions to amend the mistakes and to change the route in EDI system.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12799',
			'article_category_id' => '1',
			'title' => 'High Rent and Lack of Business Forcing Entrepreneurs of Thamel to Close their Business',
			'sub_title' => '',
			'summary' => 'December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven’t returned back to their business due to coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven&rsquo;t returned back to their business due to coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The shopkeepers had closed their shutters and left after their business was impacted by the pandemic. They have not yet resumed their business even after nine months since the lockdown was first imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">More than 700 individuals operating hotels, restaurants, travel agencies, money exchange, handicraft shops among others were involved in brisk business in areas like Thamel, Paknajol, Chhetrapati, Kaldhara and Naradevi. But they were forced to abandon their business due to the impact of lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice Chairman of Thamel Tourism Development Council Bhabishwar Sharma says that the tourism entrepreneurs and businessmen have not resumed business considering that it would take some more time for the tourism industry to return back to normal business.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to Sharma, although people related to other businesses have returned back in small numbers those involved in tourism sector are not in a position to return.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The business is not good and the rent is too high. Therefore, the businessmen are not willing to resume their business at the moment. They are&nbsp; in a wait and watch mood,&rdquo; said Sharma.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sharma informed that there are around 10,000 entrepreneurs involved in small to&nbsp; big businesses in Thamel area. Since it is the most vibrant area for tourism business, the rent here is exorbitantly high. The rental charge in Thamel area is anything between Rs 15,000 to Rs 4.5 million per month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bikash Lama, one of the entrerepeurs of Thamel, says there is no business and therefore the businessmen are not willing to return just to pay the costly rent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People involved in various businesses have closed their shops while there is no possibility for new businesses to flourish given the current situation. The landlords are unwilling to lower the rent. This has forced the businessmen to look for better and less costly alternatives to continue their business. Only a few landlords and business entrepreneurs have reportedly agreed to sign a deal to lower the rent while others are said to have shifted elsewhere.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Department of Roads Terminates Contracts of 13 Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.<br />
The Commission for the Investigation of Abuse of Authority had identified 906 contract defaults under the department in its &#39;Study Management and Analysis Report of&nbsp;Contract Defaults 2075 BS made public two years ago.<br />
Although the number of contracts terminated is less, the department has improved settling the issues with the defaulting contractors. As per the first quarterly report of the department in the current fiscal year (FY) 2077/78, the number of contracts that have been resolved is 491 while the number of contract termination is 210.<br />
The report states that the number of issues settled is 98, and the number of projects handed over to the state and local levels is 170.<br />
The internal study of the Department of Roads shows that the number of projects that had their contract extended after the fiscal year 2066-67 is 1397. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12798',
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			'title' => 'India Positive about Nepal Exporting Electricity to Bangladesh ',
			'sub_title' => '',
			'summary' => 'December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory. Indian authorities said that they are planning to adopt a policy to allow Nepal export its electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India made such commitment during the Eighth Nepal India Secretary-Level Energy Meeting held virtually on Friday. The two sides also agreed to hold a secretary-level meeting involving Nepal, India and Bangladesh in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Energy Secretary Dinesh Ghimire informed that the meeting has agreed to hold a tripartite meeting between secretaries of the three countries to clear the way for Nepal to sell its electricity to Bangladesh. It has been agreed that the foreign ministries of Nepal and India will make diplomatic efforts to call the meeting between the three countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;India is positive about Nepal exporting electricity to Bangladesh through its territory. The matter will be finalized after a secretary-level meeting between the three countries,&rdquo; said Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal and India have been holding secretary-level meetings to implement the Power Trade Agreement (PTA) ever since signing the deal on October 21, 2014. The two countries have been holding the meeting on rotation basis. The latest meeting didn&rsquo;t have any new agenda but dwelt on progress review of the decisions taken in the past, according to Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Secretary Ghimire also informed that India was positive about energy banking between the two countries. During the previous meeting, India had pledged to amend its directives on import and export of electricity to incorporate the concept of energy banking between Nepal and India. However, India is yet to amend the directives.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12797',
			'article_category_id' => '1',
			'title' => 'Government Registers Motion to Vacate Court Order Regarding Excise Duty Tender',
			'sub_title' => '',
			'summary' => 'December 13: The government has registered a motion to vacate the Supreme Court’s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: The government has registered a motion to vacate the Supreme Court&rsquo;s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Office of the Attorney General registered the motion to vacate the order stating that the domestic companies are unable to guarantee the quality of excise duty stickers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In its reply to the Supreme Court, Director General of the Inland Revenue Department Binod Bahadur Kunwar argued that the department opted for including international companies for the bidding process to print the stickers after a study conducted by the IRD found that the domestic companies did not have the capacity to print quality excise duty stickers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had called for international tender bids on October 14 to print the excise duty stickers after the department started running out of stock.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The department had given the deadline of November 29 to submit the proposals. On the final day of submission of the proposals, Mohan Raj Ghimire of Miraj Printing filed a petition at the Supreme Court against the tender process. A single bench of Justice Tej Bahadur KC then issued an interim order to stay the decision of the department. The apex court order effectively halted the process of tender undertaken by the department.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali businessmen have accused the department of setting certain criteria in the tender which the domestic companies cannot meet. Therefore, they have been accusing the government of trying to award the contract to foreign companies by making it impossible for the local companies to compete in the bidding process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">However, the department says that the Nepali companies do not have the expertise to print the stickers as per the government&rsquo;s requirement.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12795',
			'article_category_id' => '1',
			'title' => 'NAC Unable to Decide the Fate of Grounded Aircraft',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30. The state-owned airline company is looking for alternatives after the Ministry of Finance said that it is the responsibility of NAC to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A board meeting of NAC decided to ground the Chinese aircraft after the company faced losses more Rs 5 billion while operating those aircraft during the last five years.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been more than four months since NAC took the decision to ground the aircraft but has failed to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC board had written a letter to the Ministry of Culture, Tourism and Civil Aviation in July that it is not viable to operate the Chinese aircraft and had also requested the ministry to seek alternatives for the management of the aircraft. The tourism ministry sought advice from the finance ministry regarding this matter. The Ministry of Finance then informed that the NAC itself should be handed the responsibility of managing the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of NAC Dim Prasad Poudel says they are weighing various options for managing the grounded aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned NAC is considering either to return the Y-12 E and MA-60 aircraft to AVIC International Holding Corporation or to issue tender notice for selling the aircraft. Renting the aircraft to other companies is also one of the options while the fourth alternative is to hand over the aircraft as down-payment while procuring new aircraft. NAC is coordinating with the tourism ministry for considering one of the four options for the management of the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The flag carrier of Nepal had procured four Y-12 aircraft with seating capacity of 18 and two 56-seater MA-60 aircraft from a Chinese company in 2015. Among those aircraft, only one MA-60 and one Y-12 are in a condition to fly. The other MA-60 aircraft and two Y-12 were grounded since a long time. Another Y-12 met with an accident during a domestic flight. The aircraft were purchased with a concessional loan and grant of Rs 5.2 billion from China.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The NAC board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft, said a source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span> <span style="font-size:15.0pt"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">NAC is planning to procure new aircraft for domestic flights but is unable to do so until it manages the grounded aircraft.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12794',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Prices of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to NOC Spokesperson, Binit Mani Upadhyaya, the price of petrol has been raised by Re 1 per litre. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly diesel and kerosene prices also surged by Rs 2 per litre effective from Saturday midnight, NOC said in a statement. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After the price hike, the retail price of petrol has been fixed at Rs 108 per litre while diesel and kerosene will now cost Rs 91 per litre.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The state-owned oil monopoly has not changed the price of aviation turbine fuel and cooling gas (liquefied petroleum gas).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The latest fuel price hike has been based on automatic fuel pricing mechanism according to the new IOC list provided by the Indian Oil Corporation.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-12-13',
			'modified' => '2020-12-13',
			'keywords' => '',
			'description' => '',
			'sortorder' => '12542',
			'image' => '20201213112908_1607790433.petrol-diesel-1.jpg',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12796',
			'article_category_id' => '1',
			'title' => 'China's Proposes Rebuilding Araniko Highway',
			'sub_title' => '',
			'summary' => 'December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. Various sections of the highway have been damaged by earthquakes and recurring floods. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese government has proposed to rebuild the highway at a cost of 80 million yuan (Rs 1.44 billion).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;<span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese embassy has sent a proposal for reconstructing the Araniko Highway damaged by the 2072 earthquakes and subsequent landslides as well as repeated floods, according to the Development Aid Implementation Division under the Department of Roads (DoR).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Even though the Chinese government has pledged to rebuild the highway, the repair work is unlikely to begin immediately. Department of Roads informed that the Chinese construction team is unlikely to arrive due to the Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the Department of Roads, the Chinese government has proposed to rebuild the section from Panchkhal to Kodari of Araniki Highway. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the proposal, the road will not be upgraded but reconstruction work will be done in the places damaged by the earthquake and rain. Roads have been damaged in more than 60 locations across the highway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">At present, it is difficult to operate traffic on the highway due to damages that occurred at the bridges as well as road sections in Kothe, Lamosanghu Barhabise, Khursanibari, Sirise, Khagdol, Jambu, Jhale, Daklank, Upper Bhotekoshi Dam area and Ghatte Khola.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12793',
			'article_category_id' => '236',
			'title' => 'Bookings Open for Ford EcoSport at 2020 price',
			'sub_title' => '',
			'summary' => 'December 11: GO Automobiles, the authorized dealer of Ford vehicles in Nepal, has open fresh bookings for Ford EcoSport. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">December 11: GO Automobiles, the authorized dealer of Ford vehicles in Nepal, has open fresh bookings for Ford EcoSport. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">According to the company, the model has been sold out for the year 2020 and bookings have been opened for 2021. The vehicles will be available at the price of 2020, the company said in a statement. However, this offer will be available for only for a limited period.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">GO Automobiles said that the 2021 EcoSport offers Ford&rsquo;s latest&nbsp;three-cylinder&nbsp;1.5-liter&nbsp;Ti-VCT&nbsp;petrol engine that delivers segment best 122 PS of power and 149 Nm of torque. The petrol engine will continue to be paired with both&nbsp;five-speed&nbsp;manual transmission and&nbsp;six-speed&nbsp;automatic transmission, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&ldquo;The&nbsp;line-up&nbsp;will also include BSVI compliant 1.5l TDCi diesel engine that delivers&nbsp;best-in-class&nbsp;100 PS power and 215 Nm of Torque . The diesel engine is available with&nbsp;five-speed&nbsp;manual transmission.&rdquo;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:Arial">&nbsp;The company is also offering standard&nbsp;3-year&nbsp;or 100,000 km factory warranty for the 2021 Ford EcoSport lineup.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12792',
			'article_category_id' => '1',
			'title' => 'Central Bank Committed to Digital Economy: Governor Adhikari',
			'sub_title' => '',
			'summary' => 'December 11: Nepal Rastra Bank’s Governor Maha Prasad Adhikari has said that the central bank is committed to the develop digital economy and promote financial system in Nepal. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 11: Nepal Rastra Bank&rsquo;s Governor Maha Prasad Adhikari has said that the central bank is committed to the develop digital economy and promote financial system in Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Governor Adhikari made such remarks during the virtual inauguration of Singapore FinTech Festival on Thursday (December 10). The festival is being organised by the United Nations Capital Development Fund and Singapore Monetary Authority.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Speaking on the topic of digital payment for agriculture, Governor Adhikari said that&nbsp; Nepal Rastra Bank in capacity of the financial sector regulator has realized its role for the development of digital economy of Nepal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He revealed that the Government of Nepal has already initiated an ambitious project named Digital Nepal for promoting digital economy in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;This initiative will play a vital role in transforming the economy, administrative system and social activities,&rdquo; said Governor Adhikari.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Governor Adhikari further informed that the Government of Nepal as well as the central bank have given high priority for electronic transaction and payment system in recent days. He also said that the central bank has made necessary arrangements including legal provisions as well as policy-level decisions to implement the use of digital transaction in the country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He said that the importance of digital transaction has been clearly visible due to the coronavirus pandemic and also stressed on the need for digital payment in agriculture as well.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He suggested expanding digital payment system from urban areas to rural areas and to connect local farmers with e-commerce system.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stating that that 28 percent of Nepal&rsquo;s total GDP and almost two-thirds population are dependent on Agriculture, Governor Adhikari said that traditional farmers must focus on commercial farming. He said that the monetary policy has provision for credit card facilities and bonds for the farmers in order to make them competitive in the commercial market.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12790',
			'article_category_id' => '1',
			'title' => 'Nepal’s Credit Rating Suspended until Situation Becomes Normal',
			'sub_title' => '',
			'summary' => 'December 11: Fitch Ratings, which has been assigned for sovereign credit rating of Nepal, has decided to postpone the assigned task for the time being. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 11: Fitch Ratings, which has been assigned for sovereign credit rating of Nepal, has decided to postpone the assigned task for the time being. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The international company was preparing to complete the credit rating of Nepal within the first six months of the current fiscal year. However, the process has been postponed because of the impact of coronavirus on the country&rsquo;s economy.&nbsp; The rating will be suspended until the economy returns to normalcy.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Ratings Oversight Committee, formed under the coordination of revenue secretary of Ministry of Finance (MoF) had given the task of Nepal&rsquo;s credit rating to the US-based company before March after conducting discussions and necessary studies. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Moody&rsquo;s, Fitch and Standard and Poor&rsquo;s are the three major global credit rating agencies. Among them, the committee selected Fitch for conducing Nepal&rsquo;s ratings. But the process has been suspended due to coronavirus, informed Revenue Secretary Ram Sharan Pudasaini.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the credit rating will resume once the situation&nbsp; becomes normal.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;This is not the appropriate time for conducting credit rating because of the pandemic. During this situation, Nepal&rsquo;s major economic indicators will not be satisfactory. Study conducted in such circumstances will not yield good result,&rdquo; he told New Business Age.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Deputy Governor of Nepal Rastra Bank Chintamani Shivakoti, who is also a member of the committee, informed that Fitch has been conducting some works related to the credit rating but it has to visit Nepal to complete the work. The company is currently unable to come to Nepal for conducting the study.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Foreign consultants and technicians need to come here for the study. But that is not possible at the moment,&rdquo; said the deputy governor.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Fitch will have to collect data from the concerned offices upon visiting Nepal. The committee informed that Fitch has been carrying out other works that can be done remotely.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Members of the Ratings Oversight Committee include NRB Deputy Governor Shivakoti, chairman of the Insurance Board, Chairman of the Securities Board of Nepal and chief of the Central Bureau of Statistics. Standard Chartered Bank, Singapore is the consultant company for the credit rating. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The budget of the current fiscal year has mentioned that the credit rating will be completed within the first six months of the fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Stakeholders have been urging for sovereign rating saying that the absence of the rating has hugely impacted foreign direct investment (FDI) prospects of Nepal. &nbsp;Nevertheless, about half a dozen banks and financial institutions have borrowed billions of rupees in loans from foreign financial institutions over the last few years although the country does not have its credit rating. The banks say that the process of obtaining foreign loan would have been much easier if the country had credit rating.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Statistics related to economic activities in the country, ability to repay loans, trade with other countries and other various aspects are assessed while conducting sovereign rating. According to officials at Credit Rating Oversight Committee, the rating will form a basis for easy access to funds in the international market and sales of bonds. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Experts say that the sovereign rating helps to depict the real economic and financial situation of Nepal internationally.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12791',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges South Korea to Increase Investment ',
			'sub_title' => '',
			'summary' => 'December 11: Finance Minister Bishnu Prasad Poudel has requested South Korea to increase investment in education, health, tourism, and infrastructure sectors of Nepal. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 11: Finance Minister Bishnu Prasad Poudel has requested South Korea to increase investment in education, health, tourism, and infrastructure sectors of Nepal. Thanking South Korea for its current assistance in the field of education, health and infrastructure development through the Korea International Cooperation Agency (KOICA), Poudel during a bilateral meeting with South Korean Ambassador to Nepal Park Yong-sik urged for more investment. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Stating that mutual cooperation between Nepal and South Korea is increasing in the area of trade, investment and employment, Finance Minister Poudel said that Nepalis have been going to South Korea for employment through EPS (Employment Permit System) and the country has benefited by using the skills learned there in Nepal. He also thanked the South Korean government for its support and cooperation in Nepal&#39;s efforts against Covid-19. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He further said that the Ministry of Finance supports the projects being implemented in Nepal with the support of the South Korean government. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">During the meeting, Ambassador Yong-sik briefed about the assistance provided by the South Korean government to Nepal in various fields and said that the assistance would be extended in the field of technical and vocational education. He said they would coordinate to increase investment from South Korea&rsquo;s private sector. Likewise, he also said that the South Korean government would actively contribute to the prevention, control and treatment of COVID-19. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12788',
			'article_category_id' => '1',
			'title' => 'Nepal and India Agree to Resume Regular Flights under Air Transport Bubble Scheme',
			'sub_title' => '',
			'summary' => 'December 11: Nepal and India have agreed to resume regular flights after nine months. Nepal has agreed to the air transport bubble scheme proposed by India to resume the flight service. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 11: Nepal and India have agreed to resume regular flights after nine months. Nepal has agreed to the air transport bubble scheme proposed by India to resume the flight service. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Regular flights between Nepal and India were disrupted since March 24 after the government imposed lockdown to control the spread of coronavirus. Last month, India had proposed the air transport bubble scheme for taking back the citizens of different countries from Nepal. However, the government had not agreed to the proposal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">After the government imposed lockdown, it also banned international flights for five months. Regular international flights to and from Nepal resumed on September 1 but the flight to India remained suspended due to high rate of&nbsp; infection in the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the air bubble scheme, both countries will be allowed to operate flights between New Delhi and Kathmandu with only one airline company. Nepal has selected the state-owned Nepal Airlines Corporation to conduct flight one flight per day between Kathmandu and New Delhi while Indian Airlines will be operating flights on behalf of India, informed the Civil Aviation&nbsp; Authority of Nepal (CAAN).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson of CAAN Raj Kumar Chhetri informed that regular flights between the two countries will resume within two to three days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Flights between Nepal and India will resume soon under the air transport bubble scheme. Under this scheme, only diplomats and the citizens of the two countries will be able to travel between the two countries,&rdquo; said Chhetri.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chhetri clarified that citizens from third countries will not be allowed to travel under this scheme. The concept of air bubble is a scheme proposed by India to airlift stranded citizens from across the world during coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The travellers need to fill up the form online to travel under this scheme. They also need to present PCT test taken not more than 72 hours before the flight.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12789',
			'article_category_id' => '237',
			'title' => 'OPPO Announces ‘O-Fans Festival’',
			'sub_title' => '',
			'summary' => 'December 11: Chinese smartphone brand OPPO has launched its "O-Fans Festival" campaign. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">December 1</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">1: Chinese smartphone brand </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">OPPO</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> has launched its &quot;O-Fans Festival&quot; campaign. According to the company, the campaign is intended to appreciate and express the brand&rsquo;s gratitude towards its customers for their overwhelming love and support towards the brand since its initial phase.</span></span> </span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The campaign which commenced from December 1 offers the customers of OPPO</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> with an amazing opportunity to win numerous attractive gifts on the purchase of OPPO devices.</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> The campaign will remain in effect till the January 10, 2021, the company said in a statement. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">&quot;Being a global company, OPPO has always believed in localization. Nepal is one of the priority markets for us. Its richness in cultures, traditions, and simplicity in diversity has always inspired us,&rdquo; said&nbsp; Bobby Zhao, CEO of OPPO Nepal, adding, &ldquo;Hence, intending to express our sincere gratitude towards our fans for their overwhelming love and support since our initial days we have introduced &quot;O-Fans Festival&quot; SMS campaign to share the happiness along with our valuable fans here in Nepal.&quot;</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Throughout the campaign period, with every purchase of OPPO devices, customers can participate in the campaign by sending SMS as Ofans &lt;Space&gt; IMEI to &ldquo;37001&rdquo; for OPPO phones to get attractive prizes. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">For the purchase of its recent addition of IoT devices, customers need to type Ofans &lt;Space&gt; CMEI or DC Code and send them to &quot;37001&quot;. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">One lucky winner will be chosen every week and will be awarded a special gift hamper, said OPPO.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">Winners will be announced at the end of each week via OPPO Nepal&#39;s official social media platforms, the statement added.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:Arial">The participants who were not chosen as winners will still stand a chance to participate in upcoming consecutive lucky draws automatically. Therefore, once participation is done they will stand a chance to win till the very last lucky draw. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12786',
			'article_category_id' => '266',
			'title' => 'Everest Bank Extends Support to Zonta Club of Kathmandu ',
			'sub_title' => '',
			'summary' => 'December 10: Everest Bank provided financial support of Rs 250,000 to Zonta Club of Kathmandu under its Corporate Social Responsibility (CSR)',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">December 10: Everest Bank provided financial support of Rs 250,000 to Zonta Club of Kathmandu under its Corporate Social Responsibility (CSR)</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">Everest Bank said in a statement that it has been conducting various CSR programmes and supporting different social clubs and organizations working for welfare activities during this COVID-19 pandemic. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">GK Negi, CEO of Everest Bank, handed over the cheque to Seema Golchha, president of Zonta Club of Kathmandu. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;"><span style="font-size:15.0pt">Zonta has been helping the families who are highly affected by ongoing COVID-19 crisis and distributes pushcarts to sell vegetables and fruits. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:15.0pt"><span style="font-family:&quot;Times New Roman&quot;">Everest Bank currently has a customer base of over 1.1 million and the bank is rendering its services through its network of 98 branches, 31 revenue collection counters, and 130 ATMs across the country.</span></span></span></span></p>

<p>&nbsp;</p>
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FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00