May 3: There was a nationwide disruption in internet services on Thursday while the country marked the National Information and Communications Day as most of the internet services providers (ISPs) defaulted on their payment for bandwidth…
May 3: There was a nationwide disruption in internet services on Thursday while the country marked the National Information and Communications Day as most of the internet services providers (ISPs) defaulted on their payment for bandwidth…
May 3: Kathmandu, the federal capital of Nepal, has been ranked again as the world's most polluted…
May 3: There has been an improvement in the arrival of tourists since the beginning of…
May 3: The number of people aged 60 and older in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion, and comprehensive policy reforms are urgently needed to support the welfare of older people, said a report released Thursday by Asian Development Bank…
The farmers of Myagdi have earned more than Rs 210 million this year by selling oranges. Orange is the main agricultural produce exported from…
The Nepal Stock Exchange(NEPSE) Index saw a loss of 7.31 points or 0.36%, closing at 1998.96 on the last trading day of the week on…
May 2 : After the then Maoist rebels came to the peace process, its labor organizations began to strike with demands including the need to increase wages in order to assert their influence in the…
May 2: Despite being in losses, the share prices of a dozen development banks and finance companies seem to be high.…
May 2: Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, says the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment…
May 2: The Pokhara Regional International Airport, which had been temporarily closed due to low visibility over the past few days, has resumed its services as of Thursday morning.…
May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years…
May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate…
May 1: The situation of forest fires is getting worse across the…
May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record.…
May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this…
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The NTA argues that the ISPs have already collected the fees from their customers but have not paid the royalties and other charges to the regulatory body.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Communication and Information Technology gives the approval for foreign currency exchange to the ISPs upon the recommendation of the NTA. However, the ISPs have maintained their stance that they are not legally obliged to pay the royalties to the NTA and have defaulted on the payment. As a result, the ISP have not been able to pay the foreign company for the bandwidth usage.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Internet Service Providers Association of Nepal (ISPAN)’s CEO Subash Khadka told New Business Age that Airtel stopped providing them with the bandwidth as they were unable to pay the dues to Airtel because the Ministry of Communication and Information Technology did not provide them with the foreign exchange facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Airtel has completely stopped providing bandwidth to us. It had warned us earlier that it would stop the bandwidth,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khadka, majority of ISPs of Nepal have acquired bandwidth service from India’s Airtel and Tata Sky. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, Airtel is the only provider that has ceased offering bandwidth to ISPs in Nepal. Consequently, internet services in Nepal have slowed down significantly, if not come to a complete halt.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Airtel provides sixty to seventy percent of bandwidth to Nepal,” said Khadka, adding that they have requested Airtel to continue providing the bandwidth after the disruption in services.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“We have written email to Airtel to give continuity to the service but we have not been able to assure the company of clearing the dues,” Khadka told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">There have been contradictory statements regarding whether Airtel has completely ceased bandwidth supply to Nepali ISPs or has merely limited the service. While Khadka claims that Airtel has completely halted the service, former president of ISPAN Bhojraj Bhatta contends that Airtel has only limited the bandwidth service. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, WorldLink’s Director Laxman Yadav said Airtel has reduced the bandwidth supply by sixty percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“We are unable to pay to Airtel as the ministry has not given us foreign exchange facility,” said Yadav, adding, “That might be the reason they have reduced the bandwidth. We are in touch with Airtel to resolve the issue.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Bhatta claimed that Nepali ISPs have yet to pay more than INR 3 billion to the Indian companies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Ministry of Communications and Information Technology has said that its serious attention was drawn to the internet service disruption by some privately-owned internet service providers on the pretext that the government has not given then foreign exchange facility. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement this evening, the Ministry's Assistant Spokesperson Bishal Sapkota has urged all the internet service providers not to disrupt the essential service like internet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a statement on Thursday, the ministry also asked the ISPs to timely pay the rural telecommunications development fees and royalties to be paid to the state as per the law, which have been collected from the internet service users in advance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As per the law, ISPs need to pay 2 percent rural telecommunication development fee and 4 percent royalties from the internet fee they collect from their customers in advance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry claimed that out of 122 internet service providers and 23 network service providers registered with the Nepal Telecommunications Authority, only a handful of them have cleared the fees to be paid as per the laws.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry also clarified that it has been regularly making recommendations for those who have cleared the dues for the foreign currency exchange facility upon the recommendation of the Nepal Telecommunications Authority. </span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20607', 'image' => '20240503125833_blank eight by six.jpg', 'article_date' => '2024-05-03 12:52:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20880', 'article_category_id' => '1', 'title' => 'Kathmandu again Ranks World's most Polluted City with AQI 162 ', 'sub_title' => '', 'summary' => 'May 3: Kathmandu, the federal capital of Nepal, has been ranked again as the world's most polluted city. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 3: Kathmandu, the federal capital of Nepal, has been ranked again as the world's most polluted city. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the data of the Air Quality Index, Kathmandu's overall AQI reached 162 on Thursday to top the list of polluted cities while Chiang Mai city of Thailand stood second and Medan of Indonesia was identified as the world's third most polluted city. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the stakeholders, air pollution is soaring in Kathmandu due to rising incidents of forest fire amidst the increasing temperature. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The National Disaster Risk Reduction and Management Authority, 165 incidents of forest fire were reported in 39 districts across the country on Thursday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to wild fire expert, Sundar Sharma, the increasing number of forest fires has contributed to air pollution in major cities of the country including the federal capital. If there is no rainfall in the next few days, it will be challenging to contain the forest fire and reduce air pollution, according to him. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govinda Jha said there are no chances of rainfall immediately despite a brief rain in some parts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Disaster management expert Dr. Dharma Raj Upreti explained that the Air Quality Index (AQI) ranges from 0 to 500, with specific implications for public health. An AQI of 0-50 is considered good, indicated by a green signal. Moderate levels, from 51-100, are marked by yellow. However, AQI readings of 101-150 are deemed unhealthy, particularly for sensitive groups such as those with respiratory and cardiovascular issues, and are highlighted by orange. As the AQI climbs higher, from 151-200, it is indicated by red, suggesting it is unhealthy for all. Levels of 201-300 are highlighted by purple, signifying very unhealthy conditions. When the AQI exceeds 300, reaching 301-400, it is classified as hazardous, while levels of 401-500 are considered highly hazardous, denoted by maroon. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Air Quality Management Action Plan for the Kathmandu Valley, 2076 BS considers the situation measuring AQI above 300 as a disaster. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20606', 'image' => '20240503011926_443624-01-02.jpg', 'article_date' => '2024-05-03 13:18:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20878', 'article_category_id' => '1', 'title' => 'More than 400,000 Tourists Visit Nepal in Four Months of 2024', 'sub_title' => '', 'summary' => 'May 3: There has been an improvement in the arrival of tourists since the beginning of 2024.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 3: There has been an improvement in the arrival of tourists since the beginning of 2024.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Tourism Board, a total of 416,069 foreign tourists arrived in Nepal in the first four months of 2024. In the corresponding period of 2023, only 326,528 foreigners had arrived in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A comparative analysis shows that the arrival of tourists in the first four months of 2024 increased by 27.42 percent than the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data released by the Nepal Tourism Board on Thursday, 111,376 tourists arrived in Nepal in April. However, the arrival of tourists in April was less than that of March when a total of 128,167 tourists had arrived in Nepal through the air route. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Statistics Office says that the rise in arrival of tourists has played a positive role in the country's economy. According to the annual estimate released by the office on Tuesday, the growth rate of accommodation and food services is expected to be the best this year. It is estimated that the growth rate of the sector will be 21.84 percent due to the improvement in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In April, most of the tourists arrived from India. In the review month, a total of 30,158 tourists arrived from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In second place was tourists from America followed by visitors from China in the third place.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Britain stood fourth in terms of number of tourists visiting Nepal in April followed by Australia, Bangladesh, France, Germany, Russia and Malaysia respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before the start of coronavirus pandemic, the number of Chinese tourists was second only to India. However, even though the number of tourists from other countries has reached the pre-pandemic level, the number of Chinese has not increased significantly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kishor Raj Pandey, president of Saathi Travels, said that the number of American tourists has increased due to the trekking and mountain climbing season in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, more American tourists tend to visit Nepal from October to March, while the number of Americans gradually decreases from May.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20605', 'image' => '20240503115052_7440656f.jpeg', 'article_date' => '2024-05-03 11:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20877', 'article_category_id' => '1', 'title' => 'Developing Asia, Pacific Unprepared for Challenges of Aging Population: ADB Report ', 'sub_title' => '', 'summary' => 'May 3: The number of people aged 60 and older in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion, and comprehensive policy reforms are urgently needed to support the welfare of older people, said a report released Thursday by Asian Development Bank (ADB). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 3: The number of people aged 60 and older in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion, and comprehensive policy reforms are urgently needed to support the welfare of older people, said a report released Thursday by Asian Development Bank (ADB). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Longer lifespans reflect the region's development success, but the region is yet prepared to secure the well-being of its rapidly aging population and their increasing need for healthcare services, the report said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Asia and the Pacific's rapid development is a success story, but it's also fueling a huge demographic shift, and the pressure is rising," said ADB Chief Economist Albert Park in the report. "Policies should support lifetime investment in health, education, skills, and financial preparedness for retirement. Family and social ties are also important to foster healthy and productive populations of older people and maximize their contribution to society," Park added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report also forecasted that the regional economies can reap a "silver dividend" in the form of additional productivity from older people, which could boost gross domestic product in the region by an average of 0.9 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the report, many older people in the region have no choice but to work beyond retirement age to survive. Among those still working at age 65 or older, 94 percent work in the informal sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report recommended various policy measures to support the aging population, including government-assisted health insurance and pension plans, improved health infrastructure, as well as basic labor protections for older informal workers. -- Xinhua/RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20604', 'image' => '20240503111315_senior-citizen - Copy - Copy.jpg', 'article_date' => '2024-05-03 11:05:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20876', 'article_category_id' => '1', 'title' => 'Myagdi Farmers Earn Rs 210 Million by Selling Oranges', 'sub_title' => '', 'summary' => 'The farmers of Myagdi have earned more than Rs 210 million this year by selling oranges. Orange is the main agricultural produce exported from Myagdi.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 2: The farmers of Myagdi have earned more than Rs 210 million this year by selling oranges. Orange is the main agricultural produce exported from Myagdi. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the agriculture Knowledge Centre, Myagdi, the sale of 3,600 metric tonnes of oranges produced in the district this year had a turnover of Rs 216 million. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Information Officer of the Centre, Samjhana Acharya said oranges worth Rs 170 million were produced and sold last year. Oranges are sold at the rate of Rs 55 to Rs 60 per kg. Beni municipality has produced and sold oranges worth Rs 33.8 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, Malika Rural Municipality sold oranges worth Rs 13.6 million while Annapurna Rural Municipality and Mangala Rural Municipality each exported oranges worth Rs 13 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Likewise, Dhawalagiri Rural Municipality exported oranges worth Rs 3 million and 70 thousand and Raghuganga exported oranges worth Rs 2.5 million, said Information Officer Acharya. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Oranges worth Rs 22 million were sold from Bhakimli, Marek and Rakhu area of Beni Municipality-3 alone. Oranges worth Rs 11 million were sold from Thamdanda, Baskuna and Surkemela at Singa of the Municipality's Ward No 4, said Sandip Khatri, the ward chairperson and an orange farmer. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sanjeev Bastola, the Chief of AKC Myagdi, said that out of the 810 hectares of land where oranges were grown in Myagdi, oranges on only 420 hectares gave good harvest. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The productivity of oranges is 8.6 metric tonnes per hectare," Bastola said, adding, "The production of oranges has increased due to favorable weather, control of disease and insect outbreaks, subsidies to farmers in fertilizers, pesticides, agricultural tools and materials, and expansion of the area under cultivation." (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20603', 'image' => '20240503082651_collage (69).jpg', 'article_date' => '2024-05-03 08:25:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20875', 'article_category_id' => '1', 'title' => 'NEPSE Records Loss of 7.31 Points, Closing at 1998.96', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index saw a loss of 7.31 points or 0.36%, closing at 1998.96 on the last trading day of the week on Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 2: The Nepal Stock Exchange(NEPSE) Index saw a loss of 7.31 points or 0.36%, closing at 1998.96 on the last trading day of the week on Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 308 scrips were traded on the NEPSE through 64,181 transactions. A total of 9,498,298 shares changed their hands, resulting in a total turnover of Rs 4.13 biilliion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">IME Life Insurance Company Limited(ILI) led the turnover amount with the total transaction of Rs 28 crores. Samata Gharelu Laghubitta Bittiya Sanstha Limited(SMATA), Infinity Laghubitta Bittiya Sanstha(ILBS) and Sadhana Laghubitta Bittiya Sanstha(SDLBSL) each recorded the notable gain of 10%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, People’s Power Limited(PPL) incurred the maximum loss of 8.21%, closing at a market price of Rs 615 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors except Microfinance Index and Trading Index closed in the negative territory. Microfinance Index experienced highest gain of 3.45%, while Development Bank Index incurred the highest loss at 2.03%. </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20602', 'image' => '20240502035007_collage (3).jpg', 'article_date' => '2024-05-02 15:49:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20874', 'article_category_id' => '1', 'title' => 'Industrialists no Longer Worry about Strikes due to Extensive Reforms in Labor Relations', 'sub_title' => '', 'summary' => 'May 2 : After the then Maoist rebels came to the peace process, its labor organizations began to strike with demands including the need to increase wages in order to assert their influence in the factories.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 2 : After the then Maoist rebels came to the peace process, its labor organizations began to strike with demands including the need to increase wages in order to assert their influence in the factories.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At that time, the trade unions of peaceful political parties also started making competitive demands due to the fear of losing their influence. Strikes in factories became regular. Industries that were weakened by political instability and load-shedding became victims of 'labour militancy'. In this perspective, a study was conducted to find out the major obstacles in the development of the country’s economy to get support from the Millennium Challenge Corporation (MCC) of the American government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A report titled 'Nepal Growth Diagnostic' published in 2014 stated that policy instability brought about by political instability, lack of electricity, high transportation costs along with the use of trade unions to achieve political objectives and outdated labor laws were the major obstacles to economic growth.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the umbrella organization of the private sector, which was shocked by the strike of the trade unions, had prepared to form an anti-strike network in late January 2015. In the decade since then, industrialists have rarely spoken about the labor problem. Industrialists and businessmen have now started to argue that there is no need to think about labor problems.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There has been no strike by the laborers for the past 3/4 years. Even when workers had to be downsized during the coronavirus pandemic, there was no problem anywhere. Now there is a cordial relationship," Rajesh Kumar Agarwal, president of the Confederation of Nepalese Industries, told New Business Age, adding, “The CNI has signed agreements with trade unions that they will not shut down any industry if any problem arises. It has been 5 months since such an agreement was signed.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, collective debate, continuous collaboration with the stakeholders and intensive discussion on the issue have resulted in positive results and the relationship between employers and workers has also improved. Representatives of industrialists and trade unions say that two important laws—the Labor Act 2074 and the Social Security Act 2074—have played an important role in reducing labor unrest and factory strikes. These Acts have tried to give flexibility to industrialists in hiring and firing workers and guarantee social security to the workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Binod Shrestha, president of the Federation of Nepal Trade Unions (Gefont), said that among the laws made so far in relation to labor, this law, which came in 2074, is pro-labour because of the provision to include all workers in social security based on contribution. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it has not been implemented everywhere. We are trying to implement it through collective debate and bargaining, cooperation.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CNI President Agarwal says that the implementation of this law is done through collective efforts and because of that, the relationship between employers and workers is improving. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Now I don't have to think that there will be a labor problem and the industrialists don't think so either," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a study conducted by the FNCCI in 2010, strikes were the most common in industry. After that, there were problems like going on collective leave, delaying work, refusing to work overtime, obstructing work, surrounding and locking out industrial establishments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Workers affiliated to the Maoists demanded hike in wages, permanent status of workers, handover of contracts, no layoff of workers, and in some cases industries were closed to implement the decision of the Maoists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shrestha said that although laborers went on strike for the establishment of democracy in the past, the current situation is different. "We will do it only if there is a need for a strike to address our demands," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the Labor Act 2074 was made through collective discussion with stakeholders. Contribution-based Social Security Act 2074 was also brought after collective debate. "Earlier, the employers did not care about the workers/labourers and did not call them in any forum. Now, at least they participate in tripartite debate, and there are many debates on this issue," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, now the demands are addressed through collective bargaining at the establishment level. "Only if that doesn't happen, we will go to the level of agitation and strike," President Shrestha said, "It does not mean that the strike has stopped completely." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Two years ago, all the tea plantations were closed to enforce the minimum wage.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There have been no activities such as strike in Nepal by the laborers. Maniraj Gope, Director and Spokesperson of the Department of Labor and Occupational Safety, says that there is no strike as there are few job opportunities in the country and the laborers do not want to lose their jobs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the other hand, the situation of job creation is decreasing. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although there is a peaceful environment now, it does not mean that the workers have not filed any complaints with the department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Gope, workers are still in trouble in places where the government and trade unions are not present. "The government has set a minimum wage of Rs 17,300 per month. But even now, the workers are forced to work for wages below the minimum wage and they have not even raised their voice for their right to keep their jobs," Gope said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, he believes that after the implementation of the Labor Act 2074 and contribution-based social security laws, the issue of labor exploitation has decreased. "Efforts have been made to solve the problem," he said.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20601', 'image' => '20240502025946_e5f558b4.jpg', 'article_date' => '2024-05-02 14:58:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20872', 'article_category_id' => '1', 'title' => 'Why are the Share Prices of Some Loss-Making Companies High?', 'sub_title' => '', 'summary' => 'May 2: Despite being in losses, the share prices of a dozen development banks and finance companies seem to be high. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">May 2: Despite being in losses, the share prices of a dozen development banks and finance companies seem to be high. Generally, the share price of loss-making companies is also expected to decrease. Even though the loss-making companies have published their financial statements, the share price of some organizations seems to be rising day by day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">According to the third quarter financial statements of the current fiscal year (FY), </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> development banks and finance companies are in losses. Some of them have been running at a loss since a long time while some incurred loss for the first time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">For example, Saptakoshi Development Bank is in loss as per the financial statement of the bank for the third quarter of the current year. During the same period last year, the bank was in loss. Its earnings per share is negative and its share of bad loans is also </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.4</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> percent. However, when the market closed on Tuesday, its share price was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">338</span></span> <span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">per unit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Pokhara Finance has a loss of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.23</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> million as of the third quarter of the current fiscal year. By the third quarter of last year, this finance company was in profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">35</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span> <span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">million. Its latest price per share is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">679</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Damaru Ballabh Ghimire, an experienced investor, said that the share price of some companies that are in loss has increased abnormally due to the tendency of some investors to buy shares of companies with low capital and a small number of shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">In the stock market, it is common for some investors to earn and others to lose. However, Ghimire says that it is necessary to consider why the share price of companies that have not been paying dividends for a long time has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">He suggested to the investors that the investment made in the shares of a good company is less likely to sink. He suggests that one should invest only after understanding the real situation of the company without being lured by the greed of the active groups with the aim of making profit for themselves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Generally, the share price in the secondary market fluctuates depending on the financial health of the listed company, the profit and loss situation, the ratio of share price and earnings per share, investors’ morale, availability of liquidity in the financial system, interest rates of banks, etc. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">When all these things are negative, the price has gone up, so it is considered abnormal. Experts say that recently, when investors invest in how they can get immediate benefits rather than considering the financial health of the companies. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Investor Dipendra Agarwal says that there is a tendency to invest in companies that are making loss at present considering the prospects of those companies performing better in the future.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Recently, the increase in bad loans of banks and financial institutions has affected the income. Due to the provisioning of large amount of income, there is pressure on the profit. The financial condition of banks and financial institutions is not satisfactory due to economic recession, slow business, low demand for credit etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">"Investors invest in institutions recognized by Nepal Rastra Bank even if they are in immediate loss, thinking that they can do well in the long run," Agarwal said.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20600', 'image' => '20240502021405_Multibagger_stocks_1669349102838_1669349103187_1669349103187.jpg', 'article_date' => '2024-05-02 14:13:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20873', 'article_category_id' => '1', 'title' => 'Government, Development Partners Launch Public Expenditure and Financial Accountability Assessments', 'sub_title' => '', 'summary' => 'May 2: Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, says the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment Reports.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 2: Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, says the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment Reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The PEFA Performance Assessment Reports were jointly launched by the Government of Nepal with support from the Multi-Donor Trust Fund on Tuesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the assessment was done based on the internationally recognized PEFA Framework to assess the progress of Public Financial Management (PFM) across the government. Based on the assessments, the Government of Nepal will prepare a medium-term PFM Reform Strategy and Action Plan, the World Bank wrote on its wrbsite.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Public financial management has the power to change people's lives and livelihoods,” said Finance Minister Barsha Man Pun, adding that Nepal is committed to establishing a strong and robust public finance system and transforming the public financial management landscape through rigorous reforms and adoption of digital governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Government of Nepal partnered with the Nepal Public Financial Management Multi-Donor Trust Fund supported by Australia; European Union; the United Kingdom’s Foreign, Commonwealth, and Development Office; Norway; Switzerland; and U.S. Agency for International Development and administered by the World Bank to conduct the assessments. The reports consist of the PFM Performance Assessment, Climate Responsive PFM Performance Assessment, and Gender Responsive PFM Performance Assessment, the World Bank added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the multilateral donor agency, Nepal is the second country after Bhutan in South Asia to undertake PEFA Climate and PEFA Gender Assessments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the PFM performance assessment, the government has deployed a range of information systems to enhance the efficiency of PFM. The adherence to international standards in the budget and accounts classification ensures comparability, accuracy, comprehensiveness, and transparency in financial information, the World Bank stated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the assessment reports, budgets are designed with a medium-term outlook, and the predictability of resource availability for spending units is at a high level. The fiscal transfers allocated to subnational governments exhibit transparency and adherence to established rules while the scope and coverage of both the internal and external audits are extensive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Nepal’s successful completion of the PEFA assessment demonstrates its commitment to sound financial management practices,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “Development partners, including the World Bank, are committed to supporting the next generation of public financial management reforms for Nepal’s green, resilient, and inclusive development.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “As the PEFA assessment demonstrates, some crucial elements center on fiscal discipline and its impact on service delivery. Better fiscal discipline is needed for more effective, inclusive, and accountable delivery of services,” said Karen Welch, Acting Mission Director of USAID Nepal. “We, the development partners, bring assistance that supports the government’s efforts across many sectors, like health and education, environmental preservation, and attention to marginalized groups. Sound PFM allows us to work together to better benefit the people of Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The program was chaired by Finance Secretary Madhu Kumar Marasini. Chief Secretary, Dr. Baikuntha Aryal, Revenue Secretary, Dr. Ram Prasad Ghimire, and Financial Comptroller General, Hari Prasad Mainali expressed their views and reiterated their commitment for PFM reforms as indicated by this assessment. The event also included a panel discussion on the topic: “How can Nepal improve capital expenditure to achieve development outcomes?”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The event was attended by high-level government officials, accountability institutions, and development partners involved in PFM, including climate and gender agencies.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20599', 'image' => '20240502023629_Nepal-PEFA-report-dissemination-event-2024.jpg', 'article_date' => '2024-05-02 14:35:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20871', 'article_category_id' => '1', 'title' => 'Pokhara Airport Resumes Flight Operations from Today ', 'sub_title' => '', 'summary' => 'May 2: The Pokhara Regional International Airport, which had been temporarily closed due to low visibility over the past few days, has resumed its services as of Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 2: The Pokhara Regional International Airport, which had been temporarily closed due to low visibility over the past few days, has resumed its services as of Thursday morning. Buddha Air's Information Officer Dipendra Kumar Karna confirmed that the airport reopened following improved visibility conditions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Air services at the airport had been irregular for the past four days, with flight operations completely halted for two days and partially operated for the remaining two days. Low visibility in the area, exacerbated by incidents of forest fires nearby and the presence of haze, led to the disruptions of flights.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, with weather conditions improving as of Thursday morning, air services have been restored. Passengers who had purchased flight tickets during the closure period opted to travel by road instead. -- RSS</span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20598', 'image' => '20240502010830_20200729025616_1595940577.jpg', 'article_date' => '2024-05-02 13:07:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20870', 'article_category_id' => '1', 'title' => 'Narayangadh-Butwal Road Reports 50 Percent Progress in over Five Years ', 'sub_title' => '', 'summary' => 'May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago. The project was initially supposed to be completed within 42 months but has not achieved the target even in five years and three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A 33-kilometre stretch in the east section has been blacktopped as of April 27, confirmed Engineer Shiva Khanal, the Information Officer for the Narayangadh-Butwal Road Project.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the progress is gaining momentum in recent months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khanal, 18 kilometres of road were upgraded on one side in the last five months alone when took nearly half a decade to blacktop just 15 kilometres previously. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All small bridges spanning 25 metres have been already constructed. Now the construction of large bridges is in progress, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rakesh Jha, the representative of China State Construction Engineering Corporation Limited reports that site clearance work is awaited at Dumkauli, Rajahar, and Gaindakot, causing delays in the overall upgrading process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project to upgrade a 113-kilometre road stretch from Gaindakot to Lumbini has been implemented by dividing it into two clusters: 64.42 kilometres from Gaindakot to Daunne (East Section), and 48.58 kilometres from Daunne to Butwal (West Section). Facilitated by a loan of Rs 16.99 billion from the Asian Development Bank, this project has been recognised as a project of national pride. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urban areas along the road section will have additional two lanes, while in Daunne, it will have a three-lane setup along a five-kilometre stretch due to topographical issue, the company stated. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20597', 'image' => '20240502123213_ANI-20230304092024.jpg', 'article_date' => '2024-05-02 12:31:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20869', 'article_category_id' => '1', 'title' => 'Why Energy Storage is Key to Global Renewable Goals', 'sub_title' => '', 'summary' => 'May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Here is how and why batteries play a vital role in the energy transition:</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Growing demand</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Batteries have been central to the rise of electric vehicles (EVs) but are also critical to wind and solar power because of the intermittent nature of these energy sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Surplus electricity must be stored in batteries to stabilise distribution regardless of peaks in demand, or breaks in supply at night or during low winds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Battery deployment in the energy sector last year increased more than 130 percent from 2022, according to a report released last week by the International Energy Agency (IEA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main markets are China, the European Union and the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following closely are Britain, South Korea, Japan and developing nations in Africa, where solar and storage technology is seen as the gateway to energy access.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Six-fold goal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To triple global renewable energy capacity by 2030 -- a goal set at the UN climate conference in December -- the IEA says a six-fold increase in battery storage will be necessary.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Clean energy is essential to reduce emissions from burning fossil fuels and to hope to keep the international target of restricting global warming to 1.5 degrees Celsius above pre-industrial levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The total storage capacity required to achieve this target is an estimated 1,500 gigawatts by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Of this, 1,200 GW will need to be supplied by batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Cost challenges</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In less than 15 years, the cost of batteries has fallen by 90 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The combination of solar PV and batteries is today competitive with new coal plants in India. And just in the next few years, it will be cheaper than new coal in China and gas-fired power in the United States," IEA chief Fatih Birol said last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"But still the pace is not fast enough to reach our goals in terms of climate change and energy security."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Costs will have to come down further, he said, while calling for supply chains to be diversified.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Most batteries are currently produced by China.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But some 40 percent of planned battery manufacturing projects are in the United States and Europe, according to the IEA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">If those projects are realised, they would be nearly sufficient to meet the needs of those countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Metal matters</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another thorny issue is the availability of critical metals like lithium and cobalt that are essential to make batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Experts say the development chemical alternatives could complement the dominant lithium-ion technology.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Transition in the technology will reduce the amount of lithium" needed, said Brent Wanner, head of the IEA's power sector unit, adding, "this includes shifting to sodium-ion batteries".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Beyond 2030, high-density solid-state batteries that offer a longer lifespan are expected to become commercially available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are other storage options, although not as widely applicable or available as batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pumped storage hydropower has long been used in the hydroelectric sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The transformation of electricity into hydrogen, which can be stored and transported, is a new technology expected to become more readily available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Be flexible</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Renewable energy is not entirely reliant on storage and measures can be taken to improve the flexibility of its production to meet demands.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Industry and governments are gearing up for the transition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The European Union's Energy Regulators Agency called on member states in September to asses their "flexibility potential" based on estimates that renewables will need to double by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a rise requires greater "flexibility" in grids, meaning energy can be stored and distributed consistently despite fluctuating production and demand.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The G7 said Tuesday it would not only support more production and use of battery storage, but promote technological advancements in the sector as well as grid infrastructure. - AFP</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20596', 'image' => '20240502113550_1626257781878815.jpg', 'article_date' => '2024-05-02 11:34:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20868', 'article_category_id' => '1', 'title' => 'Forest Fires Raging across the Country, with 165 Incidents Reported', 'sub_title' => '', 'summary' => 'May 1: The situation of forest fires is getting worse across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The situation of forest fires is getting worse across the country. The National Disaster Risk Reduction and Management Authority reports that wildfires are currently taking place at 165 places in 39 districts as of Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With no forecast of immediate rainfall, forest fires are likely to continue further. The Weather Forecasting Division under the Department of Hydrology and Meteorology has said that there will be no rainfall in the next few days that could help control the fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govind Jha of the Division said that there is a probability of rain in some parts of the country for the next three days but it will not be enough to douse the forest fires. "There is a possibility of rainfall with partial showers in some hill areas of Koshi, Gandaki and Karnali in the next few days,"he said, adding, "But the amount of rainfall is not likely to control the forest fires." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, two people died in Lalitpur while trying to douse the fire in Tapeshwar Community Forest in Badikhel of Godavari Municipality-4. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sundar Sharma, an expert at the NDRRMA, said that it is difficult to control forest fires due to the lack of rain for a long time. There are usually around 2,500 fire incidents in Nepal every year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Eighty percent of forest fires occur in the four months from late March to late May. Hence, we are now at a high risk period," said Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the incidents of forest fire are rising due to lack of sustainable management of forests, forest expert Dr Soni Baral Gauli stressed the need of management-oriented forest development rather than protection-oriented forest management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Forest Officer at the Division Forest Office, Lalitpur, Thir Prasad Koirala shared that people light fires in forest to chase away wild animals to stop them from entering the village and attacking their cattle. He further said the incidents of forest fire are increasing due to human activities including throwing cigarette butts after smoking in the jungle and setting the jungle in fire intentionally to help grow grass faster. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section 49 (d) of the Forest Act has a provision that those involved in setting national forests in fire or involved in any fire-related incident would be punished. "Those involved in such activities will face three years of imprisonment or Rs 60,000 fine or both', reads the Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the forest fire management strategy-2067 has set a target of establishing and strengthening policy and organisational-level structures, mobilizing local community, civil society, government and non-government bodies and making preparedness to take pre information about the possible risk from wildfire to manage forest fires. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, President of the Federation of Community Forestry Users Nepal, Thakur Bhandari, points out the lack of effective implementation of the strategy. Some of the forest users have lost their lives in course of bringing the forest fire under control, he added, stating that the government has to increase capacity on how to control fire incidents safely. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20595', 'image' => '20240502105348_20230421125013_GopalKafle_Pathari_RSS_2023_04_18_18_20_IMG_1926.jpg', 'article_date' => '2024-05-02 10:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20867', 'article_category_id' => '1', 'title' => 'Record-Holder Climber Kamirita Ascending Sagarmatha for a Record 29th Time ', 'sub_title' => '', 'summary' => 'May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. The 54-year-old Sherpa who climbed the world's highest peak for the 28th time last year is set for the 29th ascent this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He has already reached the Everest Base Camp in this connection. "This year, I have set out for climbing Sagarmatha for the 29th time. I have no plan of climbing Sagarmatha for any specific number of times. Let me ascend towards the summit and see how far I can," said Kamirita, who has reached the Base Camp via Lukla and Namche. He had set out for the expedition from Kathmandu a week back as part of the Spring Season Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is accompanying a mountaineering expedition team comprising about 28 climbers. The expedition is managed by Seven Summit Treks Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mingma Sherpa, chairperson of Seven Summit Treks, said that Kamirita has reached the Everest Base Camp for his 29th ascent of Sagarmatha through his company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Mingma, most of the climbers have reached the Base Camp and they are waiting for appropriate time for climbing Sagarmatha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eighty mountaineers have gone for ascending Sagarmatha via the Seven Summit Treks alone this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita has been climbing Sagarmatha as the guide for the climbers. He will set a new record by breaking his own previous record, if he succeeds in climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita is a record-setter climber for the highest number of ascents on the world's tallest peak in the 71-year-long history of Sagarmatha climbing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pasang Dawa Sherpa, also from Solukhumbu, had climbed Sagarmatha for the 27th time last year. But, it is not confirmed whether he will be climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am going to climb Sagarmatha, I have no other purpose," Kamirita said, "I have only continued the profession of mountain climbing, I did not climb for a record." -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20594', 'image' => '20240501064139_8_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2024-05-01 18:41:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20866', 'article_category_id' => '1', 'title' => 'Slump in Economic Activities Continues despite Government’s Claim of Improvement', 'sub_title' => '', 'summary' => 'May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Annual National Accounts Estimates made public by the National Statistics Office on Tuesday, Nepal's economic growth rate in consumer prices for the current financial year (FY) 2080/81 will be 3.87 percent. This growth rate is less than the target set by the government, which is 6 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The economic growth rate projected by the National Statistics Office for this year is close to the earlier projections made by the World Bank and Asian Development Bank. Last month, the World Bank had projected the Nepalese economy to grow by 3.3 percent and the Asian Development Bank by 3.6 percent. The growth rate has been projected on the basis of the actual economic activities in the first nine months of the current fiscal year and the growth rate projections for the next three months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last fiscal year 2079/80, Nepal's revised economic growth rate was 1.95 percent, but now it has increased slightly despite a contraction in Nepal's construction business and productive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the office, the productive sector is estimated to grow by 1.6 percent. The growth of the construction sector is estimated at 2.07 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The overall demand for goods and services has declined due to the decline in the business of the construction and trade sector. As a result, the industries have not been able to operate in full capacity,” reads a statement issued by the NSO on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The private sector has been complaining for a long time about not being able to run the industry at full capacity due to lack of demand in the market. The NSO said, “If there is no significant improvement in the global economy, it is expected that Nepal's industries will see a further contraction including their output.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NSO, the construction sector is estimated to be shrinking due to import of construction materials and reduction in production of construction materials domestically. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction sector can benefit from the capital expenditure of the government. However, the government has not been able to spend much of the capital expenses allocated in the current fiscal year’s budget. According to the records of the Financial Controller General’s Office, the government’s capital expenditure stands at only Rs 130 billion out of the allocated budget of Rs 302 billion as of April end. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trade (wholesale and retail) sector, which had contracted last year, has not shown much improvement. The government estimates that the growth rate of this sector will be only 0.16 percent. The business sector is the sector that contributes the most to the economy after agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NSO informed that there has been slowdown in the real estate business and education sector as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala says that economic indicators are still not positive. Koirala said that the government does not have a plan to deal with the impacts of coronavirus as well as the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the industries and factories have been affected due to lack of strategy on the part of the government to manage such a crisis. He said that there are many problems in the governance system and the economy will remain affected unless they are improved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“To improve the economy, the government should look at policy reforms and create an investment-friendly environment,” he said. According to Koirala, the government needs to spend the budget effectively and increase investment in the market to make the economy vibrant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the positive side, the food and accommodation sector has seen a notable growth due to the rise in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The growth rate of this sector is estimated to be 21.84 percent, while the growth of hydropower and electricity sector is estimated to be 17.44 percent. Similarly, the growth rate of transport and storage sector is estimated to be 11.89 percent. The growth rate of financial and insurance services will be 7.86 percent this year, according to the NSO.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The annual average per capita income of Nepalese is estimated to reach US dollars 1,456. According to the exchange rate on Tuesday, the annual average per capita income of Nepalese is Rs 194,026. Last year such income was USD 1,405. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, in the current year the size of the economy at current prices is estimated to exceed Rs 5.7 trillion. Last year the economy was estimated to have reached a size of Rs 5.38 trillion. Generally the economic growth rate is measured by consumer prices. </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20593', 'image' => '20240501030112_20151216125539_ed.jpg', 'article_date' => '2024-05-01 15:00:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20879', 'article_category_id' => '1', 'title' => 'Internet Blackout across the Nation as ISPs Fail to Pay dues for Bandwidth Usage', 'sub_title' => '', 'summary' => 'May 3: There was a nationwide disruption in internet services on Thursday while the country marked the National Information and Communications Day as most of the internet services providers (ISPs) defaulted on their payment for bandwidth usage.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 3: There was a nationwide disruption in internet services on Thursday while the country marked the National Information and Communications Day as most of the internet services providers (ISPs) defaulted on their payment for bandwidth usage.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">India’s Airtel stopped providing bandwidth to Nepal after the ISPs of Nepal failed to clear their dues for the usage of bandwidth provided by the Indian company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Leading ISPs in Nepal, including WorldLink, Subisu, and Vianet, experienced disruptions in internet services since Thursday afternoon.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Telecommunications Authority (NTA) has not allowed foreign exchange facility to the ISPs to pay for the bandwidth usage since a year after the ISPs did not pay the royalties as well as the dues they were liable to pay to the rural telecommunication development fees. The NTA argues that the ISPs have already collected the fees from their customers but have not paid the royalties and other charges to the regulatory body.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Communication and Information Technology gives the approval for foreign currency exchange to the ISPs upon the recommendation of the NTA. However, the ISPs have maintained their stance that they are not legally obliged to pay the royalties to the NTA and have defaulted on the payment. As a result, the ISP have not been able to pay the foreign company for the bandwidth usage.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Internet Service Providers Association of Nepal (ISPAN)’s CEO Subash Khadka told New Business Age that Airtel stopped providing them with the bandwidth as they were unable to pay the dues to Airtel because the Ministry of Communication and Information Technology did not provide them with the foreign exchange facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Airtel has completely stopped providing bandwidth to us. It had warned us earlier that it would stop the bandwidth,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khadka, majority of ISPs of Nepal have acquired bandwidth service from India’s Airtel and Tata Sky. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, Airtel is the only provider that has ceased offering bandwidth to ISPs in Nepal. Consequently, internet services in Nepal have slowed down significantly, if not come to a complete halt.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Airtel provides sixty to seventy percent of bandwidth to Nepal,” said Khadka, adding that they have requested Airtel to continue providing the bandwidth after the disruption in services.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“We have written email to Airtel to give continuity to the service but we have not been able to assure the company of clearing the dues,” Khadka told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">There have been contradictory statements regarding whether Airtel has completely ceased bandwidth supply to Nepali ISPs or has merely limited the service. While Khadka claims that Airtel has completely halted the service, former president of ISPAN Bhojraj Bhatta contends that Airtel has only limited the bandwidth service. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, WorldLink’s Director Laxman Yadav said Airtel has reduced the bandwidth supply by sixty percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“We are unable to pay to Airtel as the ministry has not given us foreign exchange facility,” said Yadav, adding, “That might be the reason they have reduced the bandwidth. We are in touch with Airtel to resolve the issue.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Bhatta claimed that Nepali ISPs have yet to pay more than INR 3 billion to the Indian companies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Ministry of Communications and Information Technology has said that its serious attention was drawn to the internet service disruption by some privately-owned internet service providers on the pretext that the government has not given then foreign exchange facility. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement this evening, the Ministry's Assistant Spokesperson Bishal Sapkota has urged all the internet service providers not to disrupt the essential service like internet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a statement on Thursday, the ministry also asked the ISPs to timely pay the rural telecommunications development fees and royalties to be paid to the state as per the law, which have been collected from the internet service users in advance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As per the law, ISPs need to pay 2 percent rural telecommunication development fee and 4 percent royalties from the internet fee they collect from their customers in advance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry claimed that out of 122 internet service providers and 23 network service providers registered with the Nepal Telecommunications Authority, only a handful of them have cleared the fees to be paid as per the laws.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry also clarified that it has been regularly making recommendations for those who have cleared the dues for the foreign currency exchange facility upon the recommendation of the Nepal Telecommunications Authority. </span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20607', 'image' => '20240503125833_blank eight by six.jpg', 'article_date' => '2024-05-03 12:52:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20880', 'article_category_id' => '1', 'title' => 'Kathmandu again Ranks World's most Polluted City with AQI 162 ', 'sub_title' => '', 'summary' => 'May 3: Kathmandu, the federal capital of Nepal, has been ranked again as the world's most polluted city. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 3: Kathmandu, the federal capital of Nepal, has been ranked again as the world's most polluted city. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the data of the Air Quality Index, Kathmandu's overall AQI reached 162 on Thursday to top the list of polluted cities while Chiang Mai city of Thailand stood second and Medan of Indonesia was identified as the world's third most polluted city. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the stakeholders, air pollution is soaring in Kathmandu due to rising incidents of forest fire amidst the increasing temperature. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The National Disaster Risk Reduction and Management Authority, 165 incidents of forest fire were reported in 39 districts across the country on Thursday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to wild fire expert, Sundar Sharma, the increasing number of forest fires has contributed to air pollution in major cities of the country including the federal capital. If there is no rainfall in the next few days, it will be challenging to contain the forest fire and reduce air pollution, according to him. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govinda Jha said there are no chances of rainfall immediately despite a brief rain in some parts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Disaster management expert Dr. Dharma Raj Upreti explained that the Air Quality Index (AQI) ranges from 0 to 500, with specific implications for public health. An AQI of 0-50 is considered good, indicated by a green signal. Moderate levels, from 51-100, are marked by yellow. However, AQI readings of 101-150 are deemed unhealthy, particularly for sensitive groups such as those with respiratory and cardiovascular issues, and are highlighted by orange. As the AQI climbs higher, from 151-200, it is indicated by red, suggesting it is unhealthy for all. Levels of 201-300 are highlighted by purple, signifying very unhealthy conditions. When the AQI exceeds 300, reaching 301-400, it is classified as hazardous, while levels of 401-500 are considered highly hazardous, denoted by maroon. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Air Quality Management Action Plan for the Kathmandu Valley, 2076 BS considers the situation measuring AQI above 300 as a disaster. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20606', 'image' => '20240503011926_443624-01-02.jpg', 'article_date' => '2024-05-03 13:18:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20878', 'article_category_id' => '1', 'title' => 'More than 400,000 Tourists Visit Nepal in Four Months of 2024', 'sub_title' => '', 'summary' => 'May 3: There has been an improvement in the arrival of tourists since the beginning of 2024.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 3: There has been an improvement in the arrival of tourists since the beginning of 2024.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Tourism Board, a total of 416,069 foreign tourists arrived in Nepal in the first four months of 2024. In the corresponding period of 2023, only 326,528 foreigners had arrived in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A comparative analysis shows that the arrival of tourists in the first four months of 2024 increased by 27.42 percent than the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data released by the Nepal Tourism Board on Thursday, 111,376 tourists arrived in Nepal in April. However, the arrival of tourists in April was less than that of March when a total of 128,167 tourists had arrived in Nepal through the air route. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Statistics Office says that the rise in arrival of tourists has played a positive role in the country's economy. According to the annual estimate released by the office on Tuesday, the growth rate of accommodation and food services is expected to be the best this year. It is estimated that the growth rate of the sector will be 21.84 percent due to the improvement in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In April, most of the tourists arrived from India. In the review month, a total of 30,158 tourists arrived from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In second place was tourists from America followed by visitors from China in the third place.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Britain stood fourth in terms of number of tourists visiting Nepal in April followed by Australia, Bangladesh, France, Germany, Russia and Malaysia respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before the start of coronavirus pandemic, the number of Chinese tourists was second only to India. However, even though the number of tourists from other countries has reached the pre-pandemic level, the number of Chinese has not increased significantly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kishor Raj Pandey, president of Saathi Travels, said that the number of American tourists has increased due to the trekking and mountain climbing season in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, more American tourists tend to visit Nepal from October to March, while the number of Americans gradually decreases from May.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20605', 'image' => '20240503115052_7440656f.jpeg', 'article_date' => '2024-05-03 11:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20877', 'article_category_id' => '1', 'title' => 'Developing Asia, Pacific Unprepared for Challenges of Aging Population: ADB Report ', 'sub_title' => '', 'summary' => 'May 3: The number of people aged 60 and older in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion, and comprehensive policy reforms are urgently needed to support the welfare of older people, said a report released Thursday by Asian Development Bank (ADB). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 3: The number of people aged 60 and older in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion, and comprehensive policy reforms are urgently needed to support the welfare of older people, said a report released Thursday by Asian Development Bank (ADB). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Longer lifespans reflect the region's development success, but the region is yet prepared to secure the well-being of its rapidly aging population and their increasing need for healthcare services, the report said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Asia and the Pacific's rapid development is a success story, but it's also fueling a huge demographic shift, and the pressure is rising," said ADB Chief Economist Albert Park in the report. "Policies should support lifetime investment in health, education, skills, and financial preparedness for retirement. Family and social ties are also important to foster healthy and productive populations of older people and maximize their contribution to society," Park added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report also forecasted that the regional economies can reap a "silver dividend" in the form of additional productivity from older people, which could boost gross domestic product in the region by an average of 0.9 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the report, many older people in the region have no choice but to work beyond retirement age to survive. Among those still working at age 65 or older, 94 percent work in the informal sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report recommended various policy measures to support the aging population, including government-assisted health insurance and pension plans, improved health infrastructure, as well as basic labor protections for older informal workers. -- Xinhua/RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20604', 'image' => '20240503111315_senior-citizen - Copy - Copy.jpg', 'article_date' => '2024-05-03 11:05:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20876', 'article_category_id' => '1', 'title' => 'Myagdi Farmers Earn Rs 210 Million by Selling Oranges', 'sub_title' => '', 'summary' => 'The farmers of Myagdi have earned more than Rs 210 million this year by selling oranges. Orange is the main agricultural produce exported from Myagdi.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 2: The farmers of Myagdi have earned more than Rs 210 million this year by selling oranges. Orange is the main agricultural produce exported from Myagdi. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the agriculture Knowledge Centre, Myagdi, the sale of 3,600 metric tonnes of oranges produced in the district this year had a turnover of Rs 216 million. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Information Officer of the Centre, Samjhana Acharya said oranges worth Rs 170 million were produced and sold last year. Oranges are sold at the rate of Rs 55 to Rs 60 per kg. Beni municipality has produced and sold oranges worth Rs 33.8 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, Malika Rural Municipality sold oranges worth Rs 13.6 million while Annapurna Rural Municipality and Mangala Rural Municipality each exported oranges worth Rs 13 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Likewise, Dhawalagiri Rural Municipality exported oranges worth Rs 3 million and 70 thousand and Raghuganga exported oranges worth Rs 2.5 million, said Information Officer Acharya. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Oranges worth Rs 22 million were sold from Bhakimli, Marek and Rakhu area of Beni Municipality-3 alone. Oranges worth Rs 11 million were sold from Thamdanda, Baskuna and Surkemela at Singa of the Municipality's Ward No 4, said Sandip Khatri, the ward chairperson and an orange farmer. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sanjeev Bastola, the Chief of AKC Myagdi, said that out of the 810 hectares of land where oranges were grown in Myagdi, oranges on only 420 hectares gave good harvest. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The productivity of oranges is 8.6 metric tonnes per hectare," Bastola said, adding, "The production of oranges has increased due to favorable weather, control of disease and insect outbreaks, subsidies to farmers in fertilizers, pesticides, agricultural tools and materials, and expansion of the area under cultivation." (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20603', 'image' => '20240503082651_collage (69).jpg', 'article_date' => '2024-05-03 08:25:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20875', 'article_category_id' => '1', 'title' => 'NEPSE Records Loss of 7.31 Points, Closing at 1998.96', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index saw a loss of 7.31 points or 0.36%, closing at 1998.96 on the last trading day of the week on Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 2: The Nepal Stock Exchange(NEPSE) Index saw a loss of 7.31 points or 0.36%, closing at 1998.96 on the last trading day of the week on Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 308 scrips were traded on the NEPSE through 64,181 transactions. A total of 9,498,298 shares changed their hands, resulting in a total turnover of Rs 4.13 biilliion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">IME Life Insurance Company Limited(ILI) led the turnover amount with the total transaction of Rs 28 crores. Samata Gharelu Laghubitta Bittiya Sanstha Limited(SMATA), Infinity Laghubitta Bittiya Sanstha(ILBS) and Sadhana Laghubitta Bittiya Sanstha(SDLBSL) each recorded the notable gain of 10%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, People’s Power Limited(PPL) incurred the maximum loss of 8.21%, closing at a market price of Rs 615 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors except Microfinance Index and Trading Index closed in the negative territory. Microfinance Index experienced highest gain of 3.45%, while Development Bank Index incurred the highest loss at 2.03%. </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20602', 'image' => '20240502035007_collage (3).jpg', 'article_date' => '2024-05-02 15:49:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20874', 'article_category_id' => '1', 'title' => 'Industrialists no Longer Worry about Strikes due to Extensive Reforms in Labor Relations', 'sub_title' => '', 'summary' => 'May 2 : After the then Maoist rebels came to the peace process, its labor organizations began to strike with demands including the need to increase wages in order to assert their influence in the factories.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 2 : After the then Maoist rebels came to the peace process, its labor organizations began to strike with demands including the need to increase wages in order to assert their influence in the factories.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At that time, the trade unions of peaceful political parties also started making competitive demands due to the fear of losing their influence. Strikes in factories became regular. Industries that were weakened by political instability and load-shedding became victims of 'labour militancy'. In this perspective, a study was conducted to find out the major obstacles in the development of the country’s economy to get support from the Millennium Challenge Corporation (MCC) of the American government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A report titled 'Nepal Growth Diagnostic' published in 2014 stated that policy instability brought about by political instability, lack of electricity, high transportation costs along with the use of trade unions to achieve political objectives and outdated labor laws were the major obstacles to economic growth.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the umbrella organization of the private sector, which was shocked by the strike of the trade unions, had prepared to form an anti-strike network in late January 2015. In the decade since then, industrialists have rarely spoken about the labor problem. Industrialists and businessmen have now started to argue that there is no need to think about labor problems.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There has been no strike by the laborers for the past 3/4 years. Even when workers had to be downsized during the coronavirus pandemic, there was no problem anywhere. Now there is a cordial relationship," Rajesh Kumar Agarwal, president of the Confederation of Nepalese Industries, told New Business Age, adding, “The CNI has signed agreements with trade unions that they will not shut down any industry if any problem arises. It has been 5 months since such an agreement was signed.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, collective debate, continuous collaboration with the stakeholders and intensive discussion on the issue have resulted in positive results and the relationship between employers and workers has also improved. Representatives of industrialists and trade unions say that two important laws—the Labor Act 2074 and the Social Security Act 2074—have played an important role in reducing labor unrest and factory strikes. These Acts have tried to give flexibility to industrialists in hiring and firing workers and guarantee social security to the workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Binod Shrestha, president of the Federation of Nepal Trade Unions (Gefont), said that among the laws made so far in relation to labor, this law, which came in 2074, is pro-labour because of the provision to include all workers in social security based on contribution. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it has not been implemented everywhere. We are trying to implement it through collective debate and bargaining, cooperation.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CNI President Agarwal says that the implementation of this law is done through collective efforts and because of that, the relationship between employers and workers is improving. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Now I don't have to think that there will be a labor problem and the industrialists don't think so either," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a study conducted by the FNCCI in 2010, strikes were the most common in industry. After that, there were problems like going on collective leave, delaying work, refusing to work overtime, obstructing work, surrounding and locking out industrial establishments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Workers affiliated to the Maoists demanded hike in wages, permanent status of workers, handover of contracts, no layoff of workers, and in some cases industries were closed to implement the decision of the Maoists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shrestha said that although laborers went on strike for the establishment of democracy in the past, the current situation is different. "We will do it only if there is a need for a strike to address our demands," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the Labor Act 2074 was made through collective discussion with stakeholders. Contribution-based Social Security Act 2074 was also brought after collective debate. "Earlier, the employers did not care about the workers/labourers and did not call them in any forum. Now, at least they participate in tripartite debate, and there are many debates on this issue," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, now the demands are addressed through collective bargaining at the establishment level. "Only if that doesn't happen, we will go to the level of agitation and strike," President Shrestha said, "It does not mean that the strike has stopped completely." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Two years ago, all the tea plantations were closed to enforce the minimum wage.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There have been no activities such as strike in Nepal by the laborers. Maniraj Gope, Director and Spokesperson of the Department of Labor and Occupational Safety, says that there is no strike as there are few job opportunities in the country and the laborers do not want to lose their jobs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the other hand, the situation of job creation is decreasing. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although there is a peaceful environment now, it does not mean that the workers have not filed any complaints with the department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Gope, workers are still in trouble in places where the government and trade unions are not present. "The government has set a minimum wage of Rs 17,300 per month. But even now, the workers are forced to work for wages below the minimum wage and they have not even raised their voice for their right to keep their jobs," Gope said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, he believes that after the implementation of the Labor Act 2074 and contribution-based social security laws, the issue of labor exploitation has decreased. "Efforts have been made to solve the problem," he said.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20601', 'image' => '20240502025946_e5f558b4.jpg', 'article_date' => '2024-05-02 14:58:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20872', 'article_category_id' => '1', 'title' => 'Why are the Share Prices of Some Loss-Making Companies High?', 'sub_title' => '', 'summary' => 'May 2: Despite being in losses, the share prices of a dozen development banks and finance companies seem to be high. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">May 2: Despite being in losses, the share prices of a dozen development banks and finance companies seem to be high. Generally, the share price of loss-making companies is also expected to decrease. Even though the loss-making companies have published their financial statements, the share price of some organizations seems to be rising day by day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">According to the third quarter financial statements of the current fiscal year (FY), </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> development banks and finance companies are in losses. Some of them have been running at a loss since a long time while some incurred loss for the first time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">For example, Saptakoshi Development Bank is in loss as per the financial statement of the bank for the third quarter of the current year. During the same period last year, the bank was in loss. Its earnings per share is negative and its share of bad loans is also </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.4</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> percent. However, when the market closed on Tuesday, its share price was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">338</span></span> <span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">per unit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Pokhara Finance has a loss of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.23</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> million as of the third quarter of the current fiscal year. By the third quarter of last year, this finance company was in profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">35</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span> <span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">million. Its latest price per share is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">679</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Damaru Ballabh Ghimire, an experienced investor, said that the share price of some companies that are in loss has increased abnormally due to the tendency of some investors to buy shares of companies with low capital and a small number of shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">In the stock market, it is common for some investors to earn and others to lose. However, Ghimire says that it is necessary to consider why the share price of companies that have not been paying dividends for a long time has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">He suggested to the investors that the investment made in the shares of a good company is less likely to sink. He suggests that one should invest only after understanding the real situation of the company without being lured by the greed of the active groups with the aim of making profit for themselves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Generally, the share price in the secondary market fluctuates depending on the financial health of the listed company, the profit and loss situation, the ratio of share price and earnings per share, investors’ morale, availability of liquidity in the financial system, interest rates of banks, etc. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">When all these things are negative, the price has gone up, so it is considered abnormal. Experts say that recently, when investors invest in how they can get immediate benefits rather than considering the financial health of the companies. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Investor Dipendra Agarwal says that there is a tendency to invest in companies that are making loss at present considering the prospects of those companies performing better in the future.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Recently, the increase in bad loans of banks and financial institutions has affected the income. Due to the provisioning of large amount of income, there is pressure on the profit. The financial condition of banks and financial institutions is not satisfactory due to economic recession, slow business, low demand for credit etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">"Investors invest in institutions recognized by Nepal Rastra Bank even if they are in immediate loss, thinking that they can do well in the long run," Agarwal said.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20600', 'image' => '20240502021405_Multibagger_stocks_1669349102838_1669349103187_1669349103187.jpg', 'article_date' => '2024-05-02 14:13:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20873', 'article_category_id' => '1', 'title' => 'Government, Development Partners Launch Public Expenditure and Financial Accountability Assessments', 'sub_title' => '', 'summary' => 'May 2: Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, says the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment Reports.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 2: Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, says the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment Reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The PEFA Performance Assessment Reports were jointly launched by the Government of Nepal with support from the Multi-Donor Trust Fund on Tuesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the assessment was done based on the internationally recognized PEFA Framework to assess the progress of Public Financial Management (PFM) across the government. Based on the assessments, the Government of Nepal will prepare a medium-term PFM Reform Strategy and Action Plan, the World Bank wrote on its wrbsite.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Public financial management has the power to change people's lives and livelihoods,” said Finance Minister Barsha Man Pun, adding that Nepal is committed to establishing a strong and robust public finance system and transforming the public financial management landscape through rigorous reforms and adoption of digital governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Government of Nepal partnered with the Nepal Public Financial Management Multi-Donor Trust Fund supported by Australia; European Union; the United Kingdom’s Foreign, Commonwealth, and Development Office; Norway; Switzerland; and U.S. Agency for International Development and administered by the World Bank to conduct the assessments. The reports consist of the PFM Performance Assessment, Climate Responsive PFM Performance Assessment, and Gender Responsive PFM Performance Assessment, the World Bank added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the multilateral donor agency, Nepal is the second country after Bhutan in South Asia to undertake PEFA Climate and PEFA Gender Assessments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the PFM performance assessment, the government has deployed a range of information systems to enhance the efficiency of PFM. The adherence to international standards in the budget and accounts classification ensures comparability, accuracy, comprehensiveness, and transparency in financial information, the World Bank stated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the assessment reports, budgets are designed with a medium-term outlook, and the predictability of resource availability for spending units is at a high level. The fiscal transfers allocated to subnational governments exhibit transparency and adherence to established rules while the scope and coverage of both the internal and external audits are extensive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Nepal’s successful completion of the PEFA assessment demonstrates its commitment to sound financial management practices,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “Development partners, including the World Bank, are committed to supporting the next generation of public financial management reforms for Nepal’s green, resilient, and inclusive development.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “As the PEFA assessment demonstrates, some crucial elements center on fiscal discipline and its impact on service delivery. Better fiscal discipline is needed for more effective, inclusive, and accountable delivery of services,” said Karen Welch, Acting Mission Director of USAID Nepal. “We, the development partners, bring assistance that supports the government’s efforts across many sectors, like health and education, environmental preservation, and attention to marginalized groups. Sound PFM allows us to work together to better benefit the people of Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The program was chaired by Finance Secretary Madhu Kumar Marasini. Chief Secretary, Dr. Baikuntha Aryal, Revenue Secretary, Dr. Ram Prasad Ghimire, and Financial Comptroller General, Hari Prasad Mainali expressed their views and reiterated their commitment for PFM reforms as indicated by this assessment. The event also included a panel discussion on the topic: “How can Nepal improve capital expenditure to achieve development outcomes?”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The event was attended by high-level government officials, accountability institutions, and development partners involved in PFM, including climate and gender agencies.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20599', 'image' => '20240502023629_Nepal-PEFA-report-dissemination-event-2024.jpg', 'article_date' => '2024-05-02 14:35:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20871', 'article_category_id' => '1', 'title' => 'Pokhara Airport Resumes Flight Operations from Today ', 'sub_title' => '', 'summary' => 'May 2: The Pokhara Regional International Airport, which had been temporarily closed due to low visibility over the past few days, has resumed its services as of Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 2: The Pokhara Regional International Airport, which had been temporarily closed due to low visibility over the past few days, has resumed its services as of Thursday morning. Buddha Air's Information Officer Dipendra Kumar Karna confirmed that the airport reopened following improved visibility conditions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Air services at the airport had been irregular for the past four days, with flight operations completely halted for two days and partially operated for the remaining two days. Low visibility in the area, exacerbated by incidents of forest fires nearby and the presence of haze, led to the disruptions of flights.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, with weather conditions improving as of Thursday morning, air services have been restored. Passengers who had purchased flight tickets during the closure period opted to travel by road instead. -- RSS</span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20598', 'image' => '20240502010830_20200729025616_1595940577.jpg', 'article_date' => '2024-05-02 13:07:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20870', 'article_category_id' => '1', 'title' => 'Narayangadh-Butwal Road Reports 50 Percent Progress in over Five Years ', 'sub_title' => '', 'summary' => 'May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago. The project was initially supposed to be completed within 42 months but has not achieved the target even in five years and three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A 33-kilometre stretch in the east section has been blacktopped as of April 27, confirmed Engineer Shiva Khanal, the Information Officer for the Narayangadh-Butwal Road Project.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the progress is gaining momentum in recent months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khanal, 18 kilometres of road were upgraded on one side in the last five months alone when took nearly half a decade to blacktop just 15 kilometres previously. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All small bridges spanning 25 metres have been already constructed. Now the construction of large bridges is in progress, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rakesh Jha, the representative of China State Construction Engineering Corporation Limited reports that site clearance work is awaited at Dumkauli, Rajahar, and Gaindakot, causing delays in the overall upgrading process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project to upgrade a 113-kilometre road stretch from Gaindakot to Lumbini has been implemented by dividing it into two clusters: 64.42 kilometres from Gaindakot to Daunne (East Section), and 48.58 kilometres from Daunne to Butwal (West Section). Facilitated by a loan of Rs 16.99 billion from the Asian Development Bank, this project has been recognised as a project of national pride. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urban areas along the road section will have additional two lanes, while in Daunne, it will have a three-lane setup along a five-kilometre stretch due to topographical issue, the company stated. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20597', 'image' => '20240502123213_ANI-20230304092024.jpg', 'article_date' => '2024-05-02 12:31:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20869', 'article_category_id' => '1', 'title' => 'Why Energy Storage is Key to Global Renewable Goals', 'sub_title' => '', 'summary' => 'May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Here is how and why batteries play a vital role in the energy transition:</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Growing demand</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Batteries have been central to the rise of electric vehicles (EVs) but are also critical to wind and solar power because of the intermittent nature of these energy sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Surplus electricity must be stored in batteries to stabilise distribution regardless of peaks in demand, or breaks in supply at night or during low winds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Battery deployment in the energy sector last year increased more than 130 percent from 2022, according to a report released last week by the International Energy Agency (IEA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main markets are China, the European Union and the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following closely are Britain, South Korea, Japan and developing nations in Africa, where solar and storage technology is seen as the gateway to energy access.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Six-fold goal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To triple global renewable energy capacity by 2030 -- a goal set at the UN climate conference in December -- the IEA says a six-fold increase in battery storage will be necessary.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Clean energy is essential to reduce emissions from burning fossil fuels and to hope to keep the international target of restricting global warming to 1.5 degrees Celsius above pre-industrial levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The total storage capacity required to achieve this target is an estimated 1,500 gigawatts by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Of this, 1,200 GW will need to be supplied by batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Cost challenges</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In less than 15 years, the cost of batteries has fallen by 90 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The combination of solar PV and batteries is today competitive with new coal plants in India. And just in the next few years, it will be cheaper than new coal in China and gas-fired power in the United States," IEA chief Fatih Birol said last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"But still the pace is not fast enough to reach our goals in terms of climate change and energy security."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Costs will have to come down further, he said, while calling for supply chains to be diversified.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Most batteries are currently produced by China.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But some 40 percent of planned battery manufacturing projects are in the United States and Europe, according to the IEA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">If those projects are realised, they would be nearly sufficient to meet the needs of those countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Metal matters</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another thorny issue is the availability of critical metals like lithium and cobalt that are essential to make batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Experts say the development chemical alternatives could complement the dominant lithium-ion technology.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Transition in the technology will reduce the amount of lithium" needed, said Brent Wanner, head of the IEA's power sector unit, adding, "this includes shifting to sodium-ion batteries".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Beyond 2030, high-density solid-state batteries that offer a longer lifespan are expected to become commercially available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are other storage options, although not as widely applicable or available as batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pumped storage hydropower has long been used in the hydroelectric sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The transformation of electricity into hydrogen, which can be stored and transported, is a new technology expected to become more readily available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Be flexible</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Renewable energy is not entirely reliant on storage and measures can be taken to improve the flexibility of its production to meet demands.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Industry and governments are gearing up for the transition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The European Union's Energy Regulators Agency called on member states in September to asses their "flexibility potential" based on estimates that renewables will need to double by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a rise requires greater "flexibility" in grids, meaning energy can be stored and distributed consistently despite fluctuating production and demand.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The G7 said Tuesday it would not only support more production and use of battery storage, but promote technological advancements in the sector as well as grid infrastructure. - AFP</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20596', 'image' => '20240502113550_1626257781878815.jpg', 'article_date' => '2024-05-02 11:34:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20868', 'article_category_id' => '1', 'title' => 'Forest Fires Raging across the Country, with 165 Incidents Reported', 'sub_title' => '', 'summary' => 'May 1: The situation of forest fires is getting worse across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The situation of forest fires is getting worse across the country. The National Disaster Risk Reduction and Management Authority reports that wildfires are currently taking place at 165 places in 39 districts as of Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With no forecast of immediate rainfall, forest fires are likely to continue further. The Weather Forecasting Division under the Department of Hydrology and Meteorology has said that there will be no rainfall in the next few days that could help control the fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govind Jha of the Division said that there is a probability of rain in some parts of the country for the next three days but it will not be enough to douse the forest fires. "There is a possibility of rainfall with partial showers in some hill areas of Koshi, Gandaki and Karnali in the next few days,"he said, adding, "But the amount of rainfall is not likely to control the forest fires." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, two people died in Lalitpur while trying to douse the fire in Tapeshwar Community Forest in Badikhel of Godavari Municipality-4. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sundar Sharma, an expert at the NDRRMA, said that it is difficult to control forest fires due to the lack of rain for a long time. There are usually around 2,500 fire incidents in Nepal every year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Eighty percent of forest fires occur in the four months from late March to late May. Hence, we are now at a high risk period," said Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the incidents of forest fire are rising due to lack of sustainable management of forests, forest expert Dr Soni Baral Gauli stressed the need of management-oriented forest development rather than protection-oriented forest management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Forest Officer at the Division Forest Office, Lalitpur, Thir Prasad Koirala shared that people light fires in forest to chase away wild animals to stop them from entering the village and attacking their cattle. He further said the incidents of forest fire are increasing due to human activities including throwing cigarette butts after smoking in the jungle and setting the jungle in fire intentionally to help grow grass faster. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section 49 (d) of the Forest Act has a provision that those involved in setting national forests in fire or involved in any fire-related incident would be punished. "Those involved in such activities will face three years of imprisonment or Rs 60,000 fine or both', reads the Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the forest fire management strategy-2067 has set a target of establishing and strengthening policy and organisational-level structures, mobilizing local community, civil society, government and non-government bodies and making preparedness to take pre information about the possible risk from wildfire to manage forest fires. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, President of the Federation of Community Forestry Users Nepal, Thakur Bhandari, points out the lack of effective implementation of the strategy. Some of the forest users have lost their lives in course of bringing the forest fire under control, he added, stating that the government has to increase capacity on how to control fire incidents safely. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20595', 'image' => '20240502105348_20230421125013_GopalKafle_Pathari_RSS_2023_04_18_18_20_IMG_1926.jpg', 'article_date' => '2024-05-02 10:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20867', 'article_category_id' => '1', 'title' => 'Record-Holder Climber Kamirita Ascending Sagarmatha for a Record 29th Time ', 'sub_title' => '', 'summary' => 'May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. The 54-year-old Sherpa who climbed the world's highest peak for the 28th time last year is set for the 29th ascent this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He has already reached the Everest Base Camp in this connection. "This year, I have set out for climbing Sagarmatha for the 29th time. I have no plan of climbing Sagarmatha for any specific number of times. Let me ascend towards the summit and see how far I can," said Kamirita, who has reached the Base Camp via Lukla and Namche. He had set out for the expedition from Kathmandu a week back as part of the Spring Season Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is accompanying a mountaineering expedition team comprising about 28 climbers. The expedition is managed by Seven Summit Treks Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mingma Sherpa, chairperson of Seven Summit Treks, said that Kamirita has reached the Everest Base Camp for his 29th ascent of Sagarmatha through his company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Mingma, most of the climbers have reached the Base Camp and they are waiting for appropriate time for climbing Sagarmatha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eighty mountaineers have gone for ascending Sagarmatha via the Seven Summit Treks alone this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita has been climbing Sagarmatha as the guide for the climbers. He will set a new record by breaking his own previous record, if he succeeds in climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita is a record-setter climber for the highest number of ascents on the world's tallest peak in the 71-year-long history of Sagarmatha climbing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pasang Dawa Sherpa, also from Solukhumbu, had climbed Sagarmatha for the 27th time last year. But, it is not confirmed whether he will be climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am going to climb Sagarmatha, I have no other purpose," Kamirita said, "I have only continued the profession of mountain climbing, I did not climb for a record." -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20594', 'image' => '20240501064139_8_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2024-05-01 18:41:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20866', 'article_category_id' => '1', 'title' => 'Slump in Economic Activities Continues despite Government’s Claim of Improvement', 'sub_title' => '', 'summary' => 'May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Annual National Accounts Estimates made public by the National Statistics Office on Tuesday, Nepal's economic growth rate in consumer prices for the current financial year (FY) 2080/81 will be 3.87 percent. This growth rate is less than the target set by the government, which is 6 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The economic growth rate projected by the National Statistics Office for this year is close to the earlier projections made by the World Bank and Asian Development Bank. Last month, the World Bank had projected the Nepalese economy to grow by 3.3 percent and the Asian Development Bank by 3.6 percent. The growth rate has been projected on the basis of the actual economic activities in the first nine months of the current fiscal year and the growth rate projections for the next three months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last fiscal year 2079/80, Nepal's revised economic growth rate was 1.95 percent, but now it has increased slightly despite a contraction in Nepal's construction business and productive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the office, the productive sector is estimated to grow by 1.6 percent. The growth of the construction sector is estimated at 2.07 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The overall demand for goods and services has declined due to the decline in the business of the construction and trade sector. As a result, the industries have not been able to operate in full capacity,” reads a statement issued by the NSO on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The private sector has been complaining for a long time about not being able to run the industry at full capacity due to lack of demand in the market. The NSO said, “If there is no significant improvement in the global economy, it is expected that Nepal's industries will see a further contraction including their output.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NSO, the construction sector is estimated to be shrinking due to import of construction materials and reduction in production of construction materials domestically. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction sector can benefit from the capital expenditure of the government. However, the government has not been able to spend much of the capital expenses allocated in the current fiscal year’s budget. According to the records of the Financial Controller General’s Office, the government’s capital expenditure stands at only Rs 130 billion out of the allocated budget of Rs 302 billion as of April end. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trade (wholesale and retail) sector, which had contracted last year, has not shown much improvement. The government estimates that the growth rate of this sector will be only 0.16 percent. The business sector is the sector that contributes the most to the economy after agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NSO informed that there has been slowdown in the real estate business and education sector as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala says that economic indicators are still not positive. Koirala said that the government does not have a plan to deal with the impacts of coronavirus as well as the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the industries and factories have been affected due to lack of strategy on the part of the government to manage such a crisis. He said that there are many problems in the governance system and the economy will remain affected unless they are improved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“To improve the economy, the government should look at policy reforms and create an investment-friendly environment,” he said. According to Koirala, the government needs to spend the budget effectively and increase investment in the market to make the economy vibrant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the positive side, the food and accommodation sector has seen a notable growth due to the rise in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The growth rate of this sector is estimated to be 21.84 percent, while the growth of hydropower and electricity sector is estimated to be 17.44 percent. Similarly, the growth rate of transport and storage sector is estimated to be 11.89 percent. The growth rate of financial and insurance services will be 7.86 percent this year, according to the NSO.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The annual average per capita income of Nepalese is estimated to reach US dollars 1,456. According to the exchange rate on Tuesday, the annual average per capita income of Nepalese is Rs 194,026. Last year such income was USD 1,405. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, in the current year the size of the economy at current prices is estimated to exceed Rs 5.7 trillion. Last year the economy was estimated to have reached a size of Rs 5.38 trillion. Generally the economic growth rate is measured by consumer prices. </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20593', 'image' => '20240501030112_20151216125539_ed.jpg', 'article_date' => '2024-05-01 15:00:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The NTA argues that the ISPs have already collected the fees from their customers but have not paid the royalties and other charges to the regulatory body.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Communication and Information Technology gives the approval for foreign currency exchange to the ISPs upon the recommendation of the NTA. However, the ISPs have maintained their stance that they are not legally obliged to pay the royalties to the NTA and have defaulted on the payment. As a result, the ISP have not been able to pay the foreign company for the bandwidth usage.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Internet Service Providers Association of Nepal (ISPAN)’s CEO Subash Khadka told New Business Age that Airtel stopped providing them with the bandwidth as they were unable to pay the dues to Airtel because the Ministry of Communication and Information Technology did not provide them with the foreign exchange facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Airtel has completely stopped providing bandwidth to us. It had warned us earlier that it would stop the bandwidth,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khadka, majority of ISPs of Nepal have acquired bandwidth service from India’s Airtel and Tata Sky. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, Airtel is the only provider that has ceased offering bandwidth to ISPs in Nepal. Consequently, internet services in Nepal have slowed down significantly, if not come to a complete halt.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Airtel provides sixty to seventy percent of bandwidth to Nepal,” said Khadka, adding that they have requested Airtel to continue providing the bandwidth after the disruption in services.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“We have written email to Airtel to give continuity to the service but we have not been able to assure the company of clearing the dues,” Khadka told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">There have been contradictory statements regarding whether Airtel has completely ceased bandwidth supply to Nepali ISPs or has merely limited the service. While Khadka claims that Airtel has completely halted the service, former president of ISPAN Bhojraj Bhatta contends that Airtel has only limited the bandwidth service. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, WorldLink’s Director Laxman Yadav said Airtel has reduced the bandwidth supply by sixty percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“We are unable to pay to Airtel as the ministry has not given us foreign exchange facility,” said Yadav, adding, “That might be the reason they have reduced the bandwidth. We are in touch with Airtel to resolve the issue.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Bhatta claimed that Nepali ISPs have yet to pay more than INR 3 billion to the Indian companies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Ministry of Communications and Information Technology has said that its serious attention was drawn to the internet service disruption by some privately-owned internet service providers on the pretext that the government has not given then foreign exchange facility. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement this evening, the Ministry's Assistant Spokesperson Bishal Sapkota has urged all the internet service providers not to disrupt the essential service like internet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a statement on Thursday, the ministry also asked the ISPs to timely pay the rural telecommunications development fees and royalties to be paid to the state as per the law, which have been collected from the internet service users in advance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As per the law, ISPs need to pay 2 percent rural telecommunication development fee and 4 percent royalties from the internet fee they collect from their customers in advance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry claimed that out of 122 internet service providers and 23 network service providers registered with the Nepal Telecommunications Authority, only a handful of them have cleared the fees to be paid as per the laws.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry also clarified that it has been regularly making recommendations for those who have cleared the dues for the foreign currency exchange facility upon the recommendation of the Nepal Telecommunications Authority. </span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20607', 'image' => '20240503125833_blank eight by six.jpg', 'article_date' => '2024-05-03 12:52:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20880', 'article_category_id' => '1', 'title' => 'Kathmandu again Ranks World's most Polluted City with AQI 162 ', 'sub_title' => '', 'summary' => 'May 3: Kathmandu, the federal capital of Nepal, has been ranked again as the world's most polluted city. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 3: Kathmandu, the federal capital of Nepal, has been ranked again as the world's most polluted city. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the data of the Air Quality Index, Kathmandu's overall AQI reached 162 on Thursday to top the list of polluted cities while Chiang Mai city of Thailand stood second and Medan of Indonesia was identified as the world's third most polluted city. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the stakeholders, air pollution is soaring in Kathmandu due to rising incidents of forest fire amidst the increasing temperature. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The National Disaster Risk Reduction and Management Authority, 165 incidents of forest fire were reported in 39 districts across the country on Thursday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to wild fire expert, Sundar Sharma, the increasing number of forest fires has contributed to air pollution in major cities of the country including the federal capital. If there is no rainfall in the next few days, it will be challenging to contain the forest fire and reduce air pollution, according to him. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govinda Jha said there are no chances of rainfall immediately despite a brief rain in some parts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Disaster management expert Dr. Dharma Raj Upreti explained that the Air Quality Index (AQI) ranges from 0 to 500, with specific implications for public health. An AQI of 0-50 is considered good, indicated by a green signal. Moderate levels, from 51-100, are marked by yellow. However, AQI readings of 101-150 are deemed unhealthy, particularly for sensitive groups such as those with respiratory and cardiovascular issues, and are highlighted by orange. As the AQI climbs higher, from 151-200, it is indicated by red, suggesting it is unhealthy for all. Levels of 201-300 are highlighted by purple, signifying very unhealthy conditions. When the AQI exceeds 300, reaching 301-400, it is classified as hazardous, while levels of 401-500 are considered highly hazardous, denoted by maroon. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Air Quality Management Action Plan for the Kathmandu Valley, 2076 BS considers the situation measuring AQI above 300 as a disaster. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20606', 'image' => '20240503011926_443624-01-02.jpg', 'article_date' => '2024-05-03 13:18:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20878', 'article_category_id' => '1', 'title' => 'More than 400,000 Tourists Visit Nepal in Four Months of 2024', 'sub_title' => '', 'summary' => 'May 3: There has been an improvement in the arrival of tourists since the beginning of 2024.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 3: There has been an improvement in the arrival of tourists since the beginning of 2024.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Tourism Board, a total of 416,069 foreign tourists arrived in Nepal in the first four months of 2024. In the corresponding period of 2023, only 326,528 foreigners had arrived in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A comparative analysis shows that the arrival of tourists in the first four months of 2024 increased by 27.42 percent than the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data released by the Nepal Tourism Board on Thursday, 111,376 tourists arrived in Nepal in April. However, the arrival of tourists in April was less than that of March when a total of 128,167 tourists had arrived in Nepal through the air route. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Statistics Office says that the rise in arrival of tourists has played a positive role in the country's economy. According to the annual estimate released by the office on Tuesday, the growth rate of accommodation and food services is expected to be the best this year. It is estimated that the growth rate of the sector will be 21.84 percent due to the improvement in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In April, most of the tourists arrived from India. In the review month, a total of 30,158 tourists arrived from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In second place was tourists from America followed by visitors from China in the third place.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Britain stood fourth in terms of number of tourists visiting Nepal in April followed by Australia, Bangladesh, France, Germany, Russia and Malaysia respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before the start of coronavirus pandemic, the number of Chinese tourists was second only to India. However, even though the number of tourists from other countries has reached the pre-pandemic level, the number of Chinese has not increased significantly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kishor Raj Pandey, president of Saathi Travels, said that the number of American tourists has increased due to the trekking and mountain climbing season in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, more American tourists tend to visit Nepal from October to March, while the number of Americans gradually decreases from May.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20605', 'image' => '20240503115052_7440656f.jpeg', 'article_date' => '2024-05-03 11:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20877', 'article_category_id' => '1', 'title' => 'Developing Asia, Pacific Unprepared for Challenges of Aging Population: ADB Report ', 'sub_title' => '', 'summary' => 'May 3: The number of people aged 60 and older in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion, and comprehensive policy reforms are urgently needed to support the welfare of older people, said a report released Thursday by Asian Development Bank (ADB). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 3: The number of people aged 60 and older in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion, and comprehensive policy reforms are urgently needed to support the welfare of older people, said a report released Thursday by Asian Development Bank (ADB). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Longer lifespans reflect the region's development success, but the region is yet prepared to secure the well-being of its rapidly aging population and their increasing need for healthcare services, the report said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Asia and the Pacific's rapid development is a success story, but it's also fueling a huge demographic shift, and the pressure is rising," said ADB Chief Economist Albert Park in the report. "Policies should support lifetime investment in health, education, skills, and financial preparedness for retirement. Family and social ties are also important to foster healthy and productive populations of older people and maximize their contribution to society," Park added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report also forecasted that the regional economies can reap a "silver dividend" in the form of additional productivity from older people, which could boost gross domestic product in the region by an average of 0.9 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the report, many older people in the region have no choice but to work beyond retirement age to survive. Among those still working at age 65 or older, 94 percent work in the informal sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report recommended various policy measures to support the aging population, including government-assisted health insurance and pension plans, improved health infrastructure, as well as basic labor protections for older informal workers. -- Xinhua/RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20604', 'image' => '20240503111315_senior-citizen - Copy - Copy.jpg', 'article_date' => '2024-05-03 11:05:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20876', 'article_category_id' => '1', 'title' => 'Myagdi Farmers Earn Rs 210 Million by Selling Oranges', 'sub_title' => '', 'summary' => 'The farmers of Myagdi have earned more than Rs 210 million this year by selling oranges. Orange is the main agricultural produce exported from Myagdi.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 2: The farmers of Myagdi have earned more than Rs 210 million this year by selling oranges. Orange is the main agricultural produce exported from Myagdi. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the agriculture Knowledge Centre, Myagdi, the sale of 3,600 metric tonnes of oranges produced in the district this year had a turnover of Rs 216 million. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Information Officer of the Centre, Samjhana Acharya said oranges worth Rs 170 million were produced and sold last year. Oranges are sold at the rate of Rs 55 to Rs 60 per kg. Beni municipality has produced and sold oranges worth Rs 33.8 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, Malika Rural Municipality sold oranges worth Rs 13.6 million while Annapurna Rural Municipality and Mangala Rural Municipality each exported oranges worth Rs 13 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Likewise, Dhawalagiri Rural Municipality exported oranges worth Rs 3 million and 70 thousand and Raghuganga exported oranges worth Rs 2.5 million, said Information Officer Acharya. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Oranges worth Rs 22 million were sold from Bhakimli, Marek and Rakhu area of Beni Municipality-3 alone. Oranges worth Rs 11 million were sold from Thamdanda, Baskuna and Surkemela at Singa of the Municipality's Ward No 4, said Sandip Khatri, the ward chairperson and an orange farmer. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sanjeev Bastola, the Chief of AKC Myagdi, said that out of the 810 hectares of land where oranges were grown in Myagdi, oranges on only 420 hectares gave good harvest. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The productivity of oranges is 8.6 metric tonnes per hectare," Bastola said, adding, "The production of oranges has increased due to favorable weather, control of disease and insect outbreaks, subsidies to farmers in fertilizers, pesticides, agricultural tools and materials, and expansion of the area under cultivation." (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20603', 'image' => '20240503082651_collage (69).jpg', 'article_date' => '2024-05-03 08:25:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20875', 'article_category_id' => '1', 'title' => 'NEPSE Records Loss of 7.31 Points, Closing at 1998.96', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index saw a loss of 7.31 points or 0.36%, closing at 1998.96 on the last trading day of the week on Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 2: The Nepal Stock Exchange(NEPSE) Index saw a loss of 7.31 points or 0.36%, closing at 1998.96 on the last trading day of the week on Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 308 scrips were traded on the NEPSE through 64,181 transactions. A total of 9,498,298 shares changed their hands, resulting in a total turnover of Rs 4.13 biilliion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">IME Life Insurance Company Limited(ILI) led the turnover amount with the total transaction of Rs 28 crores. Samata Gharelu Laghubitta Bittiya Sanstha Limited(SMATA), Infinity Laghubitta Bittiya Sanstha(ILBS) and Sadhana Laghubitta Bittiya Sanstha(SDLBSL) each recorded the notable gain of 10%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, People’s Power Limited(PPL) incurred the maximum loss of 8.21%, closing at a market price of Rs 615 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors except Microfinance Index and Trading Index closed in the negative territory. Microfinance Index experienced highest gain of 3.45%, while Development Bank Index incurred the highest loss at 2.03%. </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20602', 'image' => '20240502035007_collage (3).jpg', 'article_date' => '2024-05-02 15:49:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20874', 'article_category_id' => '1', 'title' => 'Industrialists no Longer Worry about Strikes due to Extensive Reforms in Labor Relations', 'sub_title' => '', 'summary' => 'May 2 : After the then Maoist rebels came to the peace process, its labor organizations began to strike with demands including the need to increase wages in order to assert their influence in the factories.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 2 : After the then Maoist rebels came to the peace process, its labor organizations began to strike with demands including the need to increase wages in order to assert their influence in the factories.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At that time, the trade unions of peaceful political parties also started making competitive demands due to the fear of losing their influence. Strikes in factories became regular. Industries that were weakened by political instability and load-shedding became victims of 'labour militancy'. In this perspective, a study was conducted to find out the major obstacles in the development of the country’s economy to get support from the Millennium Challenge Corporation (MCC) of the American government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A report titled 'Nepal Growth Diagnostic' published in 2014 stated that policy instability brought about by political instability, lack of electricity, high transportation costs along with the use of trade unions to achieve political objectives and outdated labor laws were the major obstacles to economic growth.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the umbrella organization of the private sector, which was shocked by the strike of the trade unions, had prepared to form an anti-strike network in late January 2015. In the decade since then, industrialists have rarely spoken about the labor problem. Industrialists and businessmen have now started to argue that there is no need to think about labor problems.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There has been no strike by the laborers for the past 3/4 years. Even when workers had to be downsized during the coronavirus pandemic, there was no problem anywhere. Now there is a cordial relationship," Rajesh Kumar Agarwal, president of the Confederation of Nepalese Industries, told New Business Age, adding, “The CNI has signed agreements with trade unions that they will not shut down any industry if any problem arises. It has been 5 months since such an agreement was signed.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, collective debate, continuous collaboration with the stakeholders and intensive discussion on the issue have resulted in positive results and the relationship between employers and workers has also improved. Representatives of industrialists and trade unions say that two important laws—the Labor Act 2074 and the Social Security Act 2074—have played an important role in reducing labor unrest and factory strikes. These Acts have tried to give flexibility to industrialists in hiring and firing workers and guarantee social security to the workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Binod Shrestha, president of the Federation of Nepal Trade Unions (Gefont), said that among the laws made so far in relation to labor, this law, which came in 2074, is pro-labour because of the provision to include all workers in social security based on contribution. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it has not been implemented everywhere. We are trying to implement it through collective debate and bargaining, cooperation.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CNI President Agarwal says that the implementation of this law is done through collective efforts and because of that, the relationship between employers and workers is improving. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Now I don't have to think that there will be a labor problem and the industrialists don't think so either," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a study conducted by the FNCCI in 2010, strikes were the most common in industry. After that, there were problems like going on collective leave, delaying work, refusing to work overtime, obstructing work, surrounding and locking out industrial establishments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Workers affiliated to the Maoists demanded hike in wages, permanent status of workers, handover of contracts, no layoff of workers, and in some cases industries were closed to implement the decision of the Maoists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shrestha said that although laborers went on strike for the establishment of democracy in the past, the current situation is different. "We will do it only if there is a need for a strike to address our demands," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the Labor Act 2074 was made through collective discussion with stakeholders. Contribution-based Social Security Act 2074 was also brought after collective debate. "Earlier, the employers did not care about the workers/labourers and did not call them in any forum. Now, at least they participate in tripartite debate, and there are many debates on this issue," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, now the demands are addressed through collective bargaining at the establishment level. "Only if that doesn't happen, we will go to the level of agitation and strike," President Shrestha said, "It does not mean that the strike has stopped completely." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Two years ago, all the tea plantations were closed to enforce the minimum wage.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There have been no activities such as strike in Nepal by the laborers. Maniraj Gope, Director and Spokesperson of the Department of Labor and Occupational Safety, says that there is no strike as there are few job opportunities in the country and the laborers do not want to lose their jobs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the other hand, the situation of job creation is decreasing. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although there is a peaceful environment now, it does not mean that the workers have not filed any complaints with the department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Gope, workers are still in trouble in places where the government and trade unions are not present. "The government has set a minimum wage of Rs 17,300 per month. But even now, the workers are forced to work for wages below the minimum wage and they have not even raised their voice for their right to keep their jobs," Gope said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, he believes that after the implementation of the Labor Act 2074 and contribution-based social security laws, the issue of labor exploitation has decreased. "Efforts have been made to solve the problem," he said.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20601', 'image' => '20240502025946_e5f558b4.jpg', 'article_date' => '2024-05-02 14:58:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20872', 'article_category_id' => '1', 'title' => 'Why are the Share Prices of Some Loss-Making Companies High?', 'sub_title' => '', 'summary' => 'May 2: Despite being in losses, the share prices of a dozen development banks and finance companies seem to be high. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">May 2: Despite being in losses, the share prices of a dozen development banks and finance companies seem to be high. Generally, the share price of loss-making companies is also expected to decrease. Even though the loss-making companies have published their financial statements, the share price of some organizations seems to be rising day by day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">According to the third quarter financial statements of the current fiscal year (FY), </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> development banks and finance companies are in losses. Some of them have been running at a loss since a long time while some incurred loss for the first time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">For example, Saptakoshi Development Bank is in loss as per the financial statement of the bank for the third quarter of the current year. During the same period last year, the bank was in loss. Its earnings per share is negative and its share of bad loans is also </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.4</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> percent. However, when the market closed on Tuesday, its share price was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">338</span></span> <span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">per unit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Pokhara Finance has a loss of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.23</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> million as of the third quarter of the current fiscal year. By the third quarter of last year, this finance company was in profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">35</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span> <span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">million. Its latest price per share is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">679</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Damaru Ballabh Ghimire, an experienced investor, said that the share price of some companies that are in loss has increased abnormally due to the tendency of some investors to buy shares of companies with low capital and a small number of shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">In the stock market, it is common for some investors to earn and others to lose. However, Ghimire says that it is necessary to consider why the share price of companies that have not been paying dividends for a long time has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">He suggested to the investors that the investment made in the shares of a good company is less likely to sink. He suggests that one should invest only after understanding the real situation of the company without being lured by the greed of the active groups with the aim of making profit for themselves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Generally, the share price in the secondary market fluctuates depending on the financial health of the listed company, the profit and loss situation, the ratio of share price and earnings per share, investors’ morale, availability of liquidity in the financial system, interest rates of banks, etc. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">When all these things are negative, the price has gone up, so it is considered abnormal. Experts say that recently, when investors invest in how they can get immediate benefits rather than considering the financial health of the companies. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Investor Dipendra Agarwal says that there is a tendency to invest in companies that are making loss at present considering the prospects of those companies performing better in the future.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Recently, the increase in bad loans of banks and financial institutions has affected the income. Due to the provisioning of large amount of income, there is pressure on the profit. The financial condition of banks and financial institutions is not satisfactory due to economic recession, slow business, low demand for credit etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">"Investors invest in institutions recognized by Nepal Rastra Bank even if they are in immediate loss, thinking that they can do well in the long run," Agarwal said.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20600', 'image' => '20240502021405_Multibagger_stocks_1669349102838_1669349103187_1669349103187.jpg', 'article_date' => '2024-05-02 14:13:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20873', 'article_category_id' => '1', 'title' => 'Government, Development Partners Launch Public Expenditure and Financial Accountability Assessments', 'sub_title' => '', 'summary' => 'May 2: Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, says the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment Reports.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 2: Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, says the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment Reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The PEFA Performance Assessment Reports were jointly launched by the Government of Nepal with support from the Multi-Donor Trust Fund on Tuesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the assessment was done based on the internationally recognized PEFA Framework to assess the progress of Public Financial Management (PFM) across the government. Based on the assessments, the Government of Nepal will prepare a medium-term PFM Reform Strategy and Action Plan, the World Bank wrote on its wrbsite.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Public financial management has the power to change people's lives and livelihoods,” said Finance Minister Barsha Man Pun, adding that Nepal is committed to establishing a strong and robust public finance system and transforming the public financial management landscape through rigorous reforms and adoption of digital governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Government of Nepal partnered with the Nepal Public Financial Management Multi-Donor Trust Fund supported by Australia; European Union; the United Kingdom’s Foreign, Commonwealth, and Development Office; Norway; Switzerland; and U.S. Agency for International Development and administered by the World Bank to conduct the assessments. The reports consist of the PFM Performance Assessment, Climate Responsive PFM Performance Assessment, and Gender Responsive PFM Performance Assessment, the World Bank added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the multilateral donor agency, Nepal is the second country after Bhutan in South Asia to undertake PEFA Climate and PEFA Gender Assessments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the PFM performance assessment, the government has deployed a range of information systems to enhance the efficiency of PFM. The adherence to international standards in the budget and accounts classification ensures comparability, accuracy, comprehensiveness, and transparency in financial information, the World Bank stated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the assessment reports, budgets are designed with a medium-term outlook, and the predictability of resource availability for spending units is at a high level. The fiscal transfers allocated to subnational governments exhibit transparency and adherence to established rules while the scope and coverage of both the internal and external audits are extensive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Nepal’s successful completion of the PEFA assessment demonstrates its commitment to sound financial management practices,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “Development partners, including the World Bank, are committed to supporting the next generation of public financial management reforms for Nepal’s green, resilient, and inclusive development.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “As the PEFA assessment demonstrates, some crucial elements center on fiscal discipline and its impact on service delivery. Better fiscal discipline is needed for more effective, inclusive, and accountable delivery of services,” said Karen Welch, Acting Mission Director of USAID Nepal. “We, the development partners, bring assistance that supports the government’s efforts across many sectors, like health and education, environmental preservation, and attention to marginalized groups. Sound PFM allows us to work together to better benefit the people of Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The program was chaired by Finance Secretary Madhu Kumar Marasini. Chief Secretary, Dr. Baikuntha Aryal, Revenue Secretary, Dr. Ram Prasad Ghimire, and Financial Comptroller General, Hari Prasad Mainali expressed their views and reiterated their commitment for PFM reforms as indicated by this assessment. The event also included a panel discussion on the topic: “How can Nepal improve capital expenditure to achieve development outcomes?”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The event was attended by high-level government officials, accountability institutions, and development partners involved in PFM, including climate and gender agencies.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20599', 'image' => '20240502023629_Nepal-PEFA-report-dissemination-event-2024.jpg', 'article_date' => '2024-05-02 14:35:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20871', 'article_category_id' => '1', 'title' => 'Pokhara Airport Resumes Flight Operations from Today ', 'sub_title' => '', 'summary' => 'May 2: The Pokhara Regional International Airport, which had been temporarily closed due to low visibility over the past few days, has resumed its services as of Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 2: The Pokhara Regional International Airport, which had been temporarily closed due to low visibility over the past few days, has resumed its services as of Thursday morning. Buddha Air's Information Officer Dipendra Kumar Karna confirmed that the airport reopened following improved visibility conditions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Air services at the airport had been irregular for the past four days, with flight operations completely halted for two days and partially operated for the remaining two days. Low visibility in the area, exacerbated by incidents of forest fires nearby and the presence of haze, led to the disruptions of flights.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, with weather conditions improving as of Thursday morning, air services have been restored. Passengers who had purchased flight tickets during the closure period opted to travel by road instead. -- RSS</span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20598', 'image' => '20240502010830_20200729025616_1595940577.jpg', 'article_date' => '2024-05-02 13:07:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20870', 'article_category_id' => '1', 'title' => 'Narayangadh-Butwal Road Reports 50 Percent Progress in over Five Years ', 'sub_title' => '', 'summary' => 'May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago. The project was initially supposed to be completed within 42 months but has not achieved the target even in five years and three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A 33-kilometre stretch in the east section has been blacktopped as of April 27, confirmed Engineer Shiva Khanal, the Information Officer for the Narayangadh-Butwal Road Project.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the progress is gaining momentum in recent months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khanal, 18 kilometres of road were upgraded on one side in the last five months alone when took nearly half a decade to blacktop just 15 kilometres previously. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All small bridges spanning 25 metres have been already constructed. Now the construction of large bridges is in progress, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rakesh Jha, the representative of China State Construction Engineering Corporation Limited reports that site clearance work is awaited at Dumkauli, Rajahar, and Gaindakot, causing delays in the overall upgrading process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project to upgrade a 113-kilometre road stretch from Gaindakot to Lumbini has been implemented by dividing it into two clusters: 64.42 kilometres from Gaindakot to Daunne (East Section), and 48.58 kilometres from Daunne to Butwal (West Section). Facilitated by a loan of Rs 16.99 billion from the Asian Development Bank, this project has been recognised as a project of national pride. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urban areas along the road section will have additional two lanes, while in Daunne, it will have a three-lane setup along a five-kilometre stretch due to topographical issue, the company stated. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20597', 'image' => '20240502123213_ANI-20230304092024.jpg', 'article_date' => '2024-05-02 12:31:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20869', 'article_category_id' => '1', 'title' => 'Why Energy Storage is Key to Global Renewable Goals', 'sub_title' => '', 'summary' => 'May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Here is how and why batteries play a vital role in the energy transition:</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Growing demand</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Batteries have been central to the rise of electric vehicles (EVs) but are also critical to wind and solar power because of the intermittent nature of these energy sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Surplus electricity must be stored in batteries to stabilise distribution regardless of peaks in demand, or breaks in supply at night or during low winds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Battery deployment in the energy sector last year increased more than 130 percent from 2022, according to a report released last week by the International Energy Agency (IEA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main markets are China, the European Union and the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following closely are Britain, South Korea, Japan and developing nations in Africa, where solar and storage technology is seen as the gateway to energy access.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Six-fold goal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To triple global renewable energy capacity by 2030 -- a goal set at the UN climate conference in December -- the IEA says a six-fold increase in battery storage will be necessary.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Clean energy is essential to reduce emissions from burning fossil fuels and to hope to keep the international target of restricting global warming to 1.5 degrees Celsius above pre-industrial levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The total storage capacity required to achieve this target is an estimated 1,500 gigawatts by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Of this, 1,200 GW will need to be supplied by batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Cost challenges</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In less than 15 years, the cost of batteries has fallen by 90 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The combination of solar PV and batteries is today competitive with new coal plants in India. And just in the next few years, it will be cheaper than new coal in China and gas-fired power in the United States," IEA chief Fatih Birol said last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"But still the pace is not fast enough to reach our goals in terms of climate change and energy security."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Costs will have to come down further, he said, while calling for supply chains to be diversified.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Most batteries are currently produced by China.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But some 40 percent of planned battery manufacturing projects are in the United States and Europe, according to the IEA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">If those projects are realised, they would be nearly sufficient to meet the needs of those countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Metal matters</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another thorny issue is the availability of critical metals like lithium and cobalt that are essential to make batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Experts say the development chemical alternatives could complement the dominant lithium-ion technology.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Transition in the technology will reduce the amount of lithium" needed, said Brent Wanner, head of the IEA's power sector unit, adding, "this includes shifting to sodium-ion batteries".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Beyond 2030, high-density solid-state batteries that offer a longer lifespan are expected to become commercially available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are other storage options, although not as widely applicable or available as batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pumped storage hydropower has long been used in the hydroelectric sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The transformation of electricity into hydrogen, which can be stored and transported, is a new technology expected to become more readily available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Be flexible</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Renewable energy is not entirely reliant on storage and measures can be taken to improve the flexibility of its production to meet demands.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Industry and governments are gearing up for the transition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The European Union's Energy Regulators Agency called on member states in September to asses their "flexibility potential" based on estimates that renewables will need to double by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a rise requires greater "flexibility" in grids, meaning energy can be stored and distributed consistently despite fluctuating production and demand.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The G7 said Tuesday it would not only support more production and use of battery storage, but promote technological advancements in the sector as well as grid infrastructure. - AFP</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20596', 'image' => '20240502113550_1626257781878815.jpg', 'article_date' => '2024-05-02 11:34:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20868', 'article_category_id' => '1', 'title' => 'Forest Fires Raging across the Country, with 165 Incidents Reported', 'sub_title' => '', 'summary' => 'May 1: The situation of forest fires is getting worse across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The situation of forest fires is getting worse across the country. The National Disaster Risk Reduction and Management Authority reports that wildfires are currently taking place at 165 places in 39 districts as of Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With no forecast of immediate rainfall, forest fires are likely to continue further. The Weather Forecasting Division under the Department of Hydrology and Meteorology has said that there will be no rainfall in the next few days that could help control the fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govind Jha of the Division said that there is a probability of rain in some parts of the country for the next three days but it will not be enough to douse the forest fires. "There is a possibility of rainfall with partial showers in some hill areas of Koshi, Gandaki and Karnali in the next few days,"he said, adding, "But the amount of rainfall is not likely to control the forest fires." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, two people died in Lalitpur while trying to douse the fire in Tapeshwar Community Forest in Badikhel of Godavari Municipality-4. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sundar Sharma, an expert at the NDRRMA, said that it is difficult to control forest fires due to the lack of rain for a long time. There are usually around 2,500 fire incidents in Nepal every year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Eighty percent of forest fires occur in the four months from late March to late May. Hence, we are now at a high risk period," said Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the incidents of forest fire are rising due to lack of sustainable management of forests, forest expert Dr Soni Baral Gauli stressed the need of management-oriented forest development rather than protection-oriented forest management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Forest Officer at the Division Forest Office, Lalitpur, Thir Prasad Koirala shared that people light fires in forest to chase away wild animals to stop them from entering the village and attacking their cattle. He further said the incidents of forest fire are increasing due to human activities including throwing cigarette butts after smoking in the jungle and setting the jungle in fire intentionally to help grow grass faster. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section 49 (d) of the Forest Act has a provision that those involved in setting national forests in fire or involved in any fire-related incident would be punished. "Those involved in such activities will face three years of imprisonment or Rs 60,000 fine or both', reads the Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the forest fire management strategy-2067 has set a target of establishing and strengthening policy and organisational-level structures, mobilizing local community, civil society, government and non-government bodies and making preparedness to take pre information about the possible risk from wildfire to manage forest fires. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, President of the Federation of Community Forestry Users Nepal, Thakur Bhandari, points out the lack of effective implementation of the strategy. Some of the forest users have lost their lives in course of bringing the forest fire under control, he added, stating that the government has to increase capacity on how to control fire incidents safely. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20595', 'image' => '20240502105348_20230421125013_GopalKafle_Pathari_RSS_2023_04_18_18_20_IMG_1926.jpg', 'article_date' => '2024-05-02 10:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20867', 'article_category_id' => '1', 'title' => 'Record-Holder Climber Kamirita Ascending Sagarmatha for a Record 29th Time ', 'sub_title' => '', 'summary' => 'May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. The 54-year-old Sherpa who climbed the world's highest peak for the 28th time last year is set for the 29th ascent this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He has already reached the Everest Base Camp in this connection. "This year, I have set out for climbing Sagarmatha for the 29th time. I have no plan of climbing Sagarmatha for any specific number of times. Let me ascend towards the summit and see how far I can," said Kamirita, who has reached the Base Camp via Lukla and Namche. He had set out for the expedition from Kathmandu a week back as part of the Spring Season Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is accompanying a mountaineering expedition team comprising about 28 climbers. The expedition is managed by Seven Summit Treks Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mingma Sherpa, chairperson of Seven Summit Treks, said that Kamirita has reached the Everest Base Camp for his 29th ascent of Sagarmatha through his company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Mingma, most of the climbers have reached the Base Camp and they are waiting for appropriate time for climbing Sagarmatha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eighty mountaineers have gone for ascending Sagarmatha via the Seven Summit Treks alone this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita has been climbing Sagarmatha as the guide for the climbers. He will set a new record by breaking his own previous record, if he succeeds in climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita is a record-setter climber for the highest number of ascents on the world's tallest peak in the 71-year-long history of Sagarmatha climbing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pasang Dawa Sherpa, also from Solukhumbu, had climbed Sagarmatha for the 27th time last year. But, it is not confirmed whether he will be climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am going to climb Sagarmatha, I have no other purpose," Kamirita said, "I have only continued the profession of mountain climbing, I did not climb for a record." -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20594', 'image' => '20240501064139_8_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2024-05-01 18:41:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20866', 'article_category_id' => '1', 'title' => 'Slump in Economic Activities Continues despite Government’s Claim of Improvement', 'sub_title' => '', 'summary' => 'May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Annual National Accounts Estimates made public by the National Statistics Office on Tuesday, Nepal's economic growth rate in consumer prices for the current financial year (FY) 2080/81 will be 3.87 percent. This growth rate is less than the target set by the government, which is 6 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The economic growth rate projected by the National Statistics Office for this year is close to the earlier projections made by the World Bank and Asian Development Bank. Last month, the World Bank had projected the Nepalese economy to grow by 3.3 percent and the Asian Development Bank by 3.6 percent. The growth rate has been projected on the basis of the actual economic activities in the first nine months of the current fiscal year and the growth rate projections for the next three months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last fiscal year 2079/80, Nepal's revised economic growth rate was 1.95 percent, but now it has increased slightly despite a contraction in Nepal's construction business and productive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the office, the productive sector is estimated to grow by 1.6 percent. The growth of the construction sector is estimated at 2.07 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The overall demand for goods and services has declined due to the decline in the business of the construction and trade sector. As a result, the industries have not been able to operate in full capacity,” reads a statement issued by the NSO on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The private sector has been complaining for a long time about not being able to run the industry at full capacity due to lack of demand in the market. The NSO said, “If there is no significant improvement in the global economy, it is expected that Nepal's industries will see a further contraction including their output.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NSO, the construction sector is estimated to be shrinking due to import of construction materials and reduction in production of construction materials domestically. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction sector can benefit from the capital expenditure of the government. However, the government has not been able to spend much of the capital expenses allocated in the current fiscal year’s budget. According to the records of the Financial Controller General’s Office, the government’s capital expenditure stands at only Rs 130 billion out of the allocated budget of Rs 302 billion as of April end. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trade (wholesale and retail) sector, which had contracted last year, has not shown much improvement. The government estimates that the growth rate of this sector will be only 0.16 percent. The business sector is the sector that contributes the most to the economy after agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NSO informed that there has been slowdown in the real estate business and education sector as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala says that economic indicators are still not positive. Koirala said that the government does not have a plan to deal with the impacts of coronavirus as well as the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the industries and factories have been affected due to lack of strategy on the part of the government to manage such a crisis. He said that there are many problems in the governance system and the economy will remain affected unless they are improved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“To improve the economy, the government should look at policy reforms and create an investment-friendly environment,” he said. According to Koirala, the government needs to spend the budget effectively and increase investment in the market to make the economy vibrant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the positive side, the food and accommodation sector has seen a notable growth due to the rise in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The growth rate of this sector is estimated to be 21.84 percent, while the growth of hydropower and electricity sector is estimated to be 17.44 percent. Similarly, the growth rate of transport and storage sector is estimated to be 11.89 percent. The growth rate of financial and insurance services will be 7.86 percent this year, according to the NSO.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The annual average per capita income of Nepalese is estimated to reach US dollars 1,456. According to the exchange rate on Tuesday, the annual average per capita income of Nepalese is Rs 194,026. Last year such income was USD 1,405. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, in the current year the size of the economy at current prices is estimated to exceed Rs 5.7 trillion. Last year the economy was estimated to have reached a size of Rs 5.38 trillion. Generally the economic growth rate is measured by consumer prices. </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20593', 'image' => '20240501030112_20151216125539_ed.jpg', 'article_date' => '2024-05-01 15:00:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The NTA argues that the ISPs have already collected the fees from their customers but have not paid the royalties and other charges to the regulatory body.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Communication and Information Technology gives the approval for foreign currency exchange to the ISPs upon the recommendation of the NTA. However, the ISPs have maintained their stance that they are not legally obliged to pay the royalties to the NTA and have defaulted on the payment. As a result, the ISP have not been able to pay the foreign company for the bandwidth usage.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Internet Service Providers Association of Nepal (ISPAN)’s CEO Subash Khadka told New Business Age that Airtel stopped providing them with the bandwidth as they were unable to pay the dues to Airtel because the Ministry of Communication and Information Technology did not provide them with the foreign exchange facility.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Airtel has completely stopped providing bandwidth to us. It had warned us earlier that it would stop the bandwidth,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khadka, majority of ISPs of Nepal have acquired bandwidth service from India’s Airtel and Tata Sky. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, Airtel is the only provider that has ceased offering bandwidth to ISPs in Nepal. Consequently, internet services in Nepal have slowed down significantly, if not come to a complete halt.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“Airtel provides sixty to seventy percent of bandwidth to Nepal,” said Khadka, adding that they have requested Airtel to continue providing the bandwidth after the disruption in services.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“We have written email to Airtel to give continuity to the service but we have not been able to assure the company of clearing the dues,” Khadka told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">There have been contradictory statements regarding whether Airtel has completely ceased bandwidth supply to Nepali ISPs or has merely limited the service. While Khadka claims that Airtel has completely halted the service, former president of ISPAN Bhojraj Bhatta contends that Airtel has only limited the bandwidth service. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, WorldLink’s Director Laxman Yadav said Airtel has reduced the bandwidth supply by sixty percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“We are unable to pay to Airtel as the ministry has not given us foreign exchange facility,” said Yadav, adding, “That might be the reason they have reduced the bandwidth. We are in touch with Airtel to resolve the issue.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Bhatta claimed that Nepali ISPs have yet to pay more than INR 3 billion to the Indian companies.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Ministry of Communications and Information Technology has said that its serious attention was drawn to the internet service disruption by some privately-owned internet service providers on the pretext that the government has not given then foreign exchange facility. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement this evening, the Ministry's Assistant Spokesperson Bishal Sapkota has urged all the internet service providers not to disrupt the essential service like internet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a statement on Thursday, the ministry also asked the ISPs to timely pay the rural telecommunications development fees and royalties to be paid to the state as per the law, which have been collected from the internet service users in advance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As per the law, ISPs need to pay 2 percent rural telecommunication development fee and 4 percent royalties from the internet fee they collect from their customers in advance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry claimed that out of 122 internet service providers and 23 network service providers registered with the Nepal Telecommunications Authority, only a handful of them have cleared the fees to be paid as per the laws.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry also clarified that it has been regularly making recommendations for those who have cleared the dues for the foreign currency exchange facility upon the recommendation of the Nepal Telecommunications Authority. </span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20607', 'image' => '20240503125833_blank eight by six.jpg', 'article_date' => '2024-05-03 12:52:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20880', 'article_category_id' => '1', 'title' => 'Kathmandu again Ranks World's most Polluted City with AQI 162 ', 'sub_title' => '', 'summary' => 'May 3: Kathmandu, the federal capital of Nepal, has been ranked again as the world's most polluted city. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 3: Kathmandu, the federal capital of Nepal, has been ranked again as the world's most polluted city. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the data of the Air Quality Index, Kathmandu's overall AQI reached 162 on Thursday to top the list of polluted cities while Chiang Mai city of Thailand stood second and Medan of Indonesia was identified as the world's third most polluted city. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the stakeholders, air pollution is soaring in Kathmandu due to rising incidents of forest fire amidst the increasing temperature. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The National Disaster Risk Reduction and Management Authority, 165 incidents of forest fire were reported in 39 districts across the country on Thursday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to wild fire expert, Sundar Sharma, the increasing number of forest fires has contributed to air pollution in major cities of the country including the federal capital. If there is no rainfall in the next few days, it will be challenging to contain the forest fire and reduce air pollution, according to him. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govinda Jha said there are no chances of rainfall immediately despite a brief rain in some parts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Disaster management expert Dr. Dharma Raj Upreti explained that the Air Quality Index (AQI) ranges from 0 to 500, with specific implications for public health. An AQI of 0-50 is considered good, indicated by a green signal. Moderate levels, from 51-100, are marked by yellow. However, AQI readings of 101-150 are deemed unhealthy, particularly for sensitive groups such as those with respiratory and cardiovascular issues, and are highlighted by orange. As the AQI climbs higher, from 151-200, it is indicated by red, suggesting it is unhealthy for all. Levels of 201-300 are highlighted by purple, signifying very unhealthy conditions. When the AQI exceeds 300, reaching 301-400, it is classified as hazardous, while levels of 401-500 are considered highly hazardous, denoted by maroon. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Air Quality Management Action Plan for the Kathmandu Valley, 2076 BS considers the situation measuring AQI above 300 as a disaster. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20606', 'image' => '20240503011926_443624-01-02.jpg', 'article_date' => '2024-05-03 13:18:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20878', 'article_category_id' => '1', 'title' => 'More than 400,000 Tourists Visit Nepal in Four Months of 2024', 'sub_title' => '', 'summary' => 'May 3: There has been an improvement in the arrival of tourists since the beginning of 2024.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 3: There has been an improvement in the arrival of tourists since the beginning of 2024.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Tourism Board, a total of 416,069 foreign tourists arrived in Nepal in the first four months of 2024. In the corresponding period of 2023, only 326,528 foreigners had arrived in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A comparative analysis shows that the arrival of tourists in the first four months of 2024 increased by 27.42 percent than the corresponding period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data released by the Nepal Tourism Board on Thursday, 111,376 tourists arrived in Nepal in April. However, the arrival of tourists in April was less than that of March when a total of 128,167 tourists had arrived in Nepal through the air route. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Statistics Office says that the rise in arrival of tourists has played a positive role in the country's economy. According to the annual estimate released by the office on Tuesday, the growth rate of accommodation and food services is expected to be the best this year. It is estimated that the growth rate of the sector will be 21.84 percent due to the improvement in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In April, most of the tourists arrived from India. In the review month, a total of 30,158 tourists arrived from India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In second place was tourists from America followed by visitors from China in the third place.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Britain stood fourth in terms of number of tourists visiting Nepal in April followed by Australia, Bangladesh, France, Germany, Russia and Malaysia respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before the start of coronavirus pandemic, the number of Chinese tourists was second only to India. However, even though the number of tourists from other countries has reached the pre-pandemic level, the number of Chinese has not increased significantly.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kishor Raj Pandey, president of Saathi Travels, said that the number of American tourists has increased due to the trekking and mountain climbing season in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, more American tourists tend to visit Nepal from October to March, while the number of Americans gradually decreases from May.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20605', 'image' => '20240503115052_7440656f.jpeg', 'article_date' => '2024-05-03 11:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20877', 'article_category_id' => '1', 'title' => 'Developing Asia, Pacific Unprepared for Challenges of Aging Population: ADB Report ', 'sub_title' => '', 'summary' => 'May 3: The number of people aged 60 and older in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion, and comprehensive policy reforms are urgently needed to support the welfare of older people, said a report released Thursday by Asian Development Bank (ADB). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 3: The number of people aged 60 and older in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion, and comprehensive policy reforms are urgently needed to support the welfare of older people, said a report released Thursday by Asian Development Bank (ADB). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Longer lifespans reflect the region's development success, but the region is yet prepared to secure the well-being of its rapidly aging population and their increasing need for healthcare services, the report said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Asia and the Pacific's rapid development is a success story, but it's also fueling a huge demographic shift, and the pressure is rising," said ADB Chief Economist Albert Park in the report. "Policies should support lifetime investment in health, education, skills, and financial preparedness for retirement. Family and social ties are also important to foster healthy and productive populations of older people and maximize their contribution to society," Park added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report also forecasted that the regional economies can reap a "silver dividend" in the form of additional productivity from older people, which could boost gross domestic product in the region by an average of 0.9 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the report, many older people in the region have no choice but to work beyond retirement age to survive. Among those still working at age 65 or older, 94 percent work in the informal sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report recommended various policy measures to support the aging population, including government-assisted health insurance and pension plans, improved health infrastructure, as well as basic labor protections for older informal workers. -- Xinhua/RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20604', 'image' => '20240503111315_senior-citizen - Copy - Copy.jpg', 'article_date' => '2024-05-03 11:05:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20876', 'article_category_id' => '1', 'title' => 'Myagdi Farmers Earn Rs 210 Million by Selling Oranges', 'sub_title' => '', 'summary' => 'The farmers of Myagdi have earned more than Rs 210 million this year by selling oranges. Orange is the main agricultural produce exported from Myagdi.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 2: The farmers of Myagdi have earned more than Rs 210 million this year by selling oranges. Orange is the main agricultural produce exported from Myagdi. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the agriculture Knowledge Centre, Myagdi, the sale of 3,600 metric tonnes of oranges produced in the district this year had a turnover of Rs 216 million. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Information Officer of the Centre, Samjhana Acharya said oranges worth Rs 170 million were produced and sold last year. Oranges are sold at the rate of Rs 55 to Rs 60 per kg. Beni municipality has produced and sold oranges worth Rs 33.8 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, Malika Rural Municipality sold oranges worth Rs 13.6 million while Annapurna Rural Municipality and Mangala Rural Municipality each exported oranges worth Rs 13 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Likewise, Dhawalagiri Rural Municipality exported oranges worth Rs 3 million and 70 thousand and Raghuganga exported oranges worth Rs 2.5 million, said Information Officer Acharya. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Oranges worth Rs 22 million were sold from Bhakimli, Marek and Rakhu area of Beni Municipality-3 alone. Oranges worth Rs 11 million were sold from Thamdanda, Baskuna and Surkemela at Singa of the Municipality's Ward No 4, said Sandip Khatri, the ward chairperson and an orange farmer. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sanjeev Bastola, the Chief of AKC Myagdi, said that out of the 810 hectares of land where oranges were grown in Myagdi, oranges on only 420 hectares gave good harvest. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The productivity of oranges is 8.6 metric tonnes per hectare," Bastola said, adding, "The production of oranges has increased due to favorable weather, control of disease and insect outbreaks, subsidies to farmers in fertilizers, pesticides, agricultural tools and materials, and expansion of the area under cultivation." (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-03', 'modified' => '2024-05-03', 'keywords' => '', 'description' => '', 'sortorder' => '20603', 'image' => '20240503082651_collage (69).jpg', 'article_date' => '2024-05-03 08:25:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20875', 'article_category_id' => '1', 'title' => 'NEPSE Records Loss of 7.31 Points, Closing at 1998.96', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index saw a loss of 7.31 points or 0.36%, closing at 1998.96 on the last trading day of the week on Thursday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 2: The Nepal Stock Exchange(NEPSE) Index saw a loss of 7.31 points or 0.36%, closing at 1998.96 on the last trading day of the week on Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 308 scrips were traded on the NEPSE through 64,181 transactions. A total of 9,498,298 shares changed their hands, resulting in a total turnover of Rs 4.13 biilliion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">IME Life Insurance Company Limited(ILI) led the turnover amount with the total transaction of Rs 28 crores. Samata Gharelu Laghubitta Bittiya Sanstha Limited(SMATA), Infinity Laghubitta Bittiya Sanstha(ILBS) and Sadhana Laghubitta Bittiya Sanstha(SDLBSL) each recorded the notable gain of 10%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, People’s Power Limited(PPL) incurred the maximum loss of 8.21%, closing at a market price of Rs 615 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sectors except Microfinance Index and Trading Index closed in the negative territory. Microfinance Index experienced highest gain of 3.45%, while Development Bank Index incurred the highest loss at 2.03%. </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20602', 'image' => '20240502035007_collage (3).jpg', 'article_date' => '2024-05-02 15:49:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20874', 'article_category_id' => '1', 'title' => 'Industrialists no Longer Worry about Strikes due to Extensive Reforms in Labor Relations', 'sub_title' => '', 'summary' => 'May 2 : After the then Maoist rebels came to the peace process, its labor organizations began to strike with demands including the need to increase wages in order to assert their influence in the factories.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 2 : After the then Maoist rebels came to the peace process, its labor organizations began to strike with demands including the need to increase wages in order to assert their influence in the factories.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At that time, the trade unions of peaceful political parties also started making competitive demands due to the fear of losing their influence. Strikes in factories became regular. Industries that were weakened by political instability and load-shedding became victims of 'labour militancy'. In this perspective, a study was conducted to find out the major obstacles in the development of the country’s economy to get support from the Millennium Challenge Corporation (MCC) of the American government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A report titled 'Nepal Growth Diagnostic' published in 2014 stated that policy instability brought about by political instability, lack of electricity, high transportation costs along with the use of trade unions to achieve political objectives and outdated labor laws were the major obstacles to economic growth.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the umbrella organization of the private sector, which was shocked by the strike of the trade unions, had prepared to form an anti-strike network in late January 2015. In the decade since then, industrialists have rarely spoken about the labor problem. Industrialists and businessmen have now started to argue that there is no need to think about labor problems.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There has been no strike by the laborers for the past 3/4 years. Even when workers had to be downsized during the coronavirus pandemic, there was no problem anywhere. Now there is a cordial relationship," Rajesh Kumar Agarwal, president of the Confederation of Nepalese Industries, told New Business Age, adding, “The CNI has signed agreements with trade unions that they will not shut down any industry if any problem arises. It has been 5 months since such an agreement was signed.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, collective debate, continuous collaboration with the stakeholders and intensive discussion on the issue have resulted in positive results and the relationship between employers and workers has also improved. Representatives of industrialists and trade unions say that two important laws—the Labor Act 2074 and the Social Security Act 2074—have played an important role in reducing labor unrest and factory strikes. These Acts have tried to give flexibility to industrialists in hiring and firing workers and guarantee social security to the workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Binod Shrestha, president of the Federation of Nepal Trade Unions (Gefont), said that among the laws made so far in relation to labor, this law, which came in 2074, is pro-labour because of the provision to include all workers in social security based on contribution. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it has not been implemented everywhere. We are trying to implement it through collective debate and bargaining, cooperation.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CNI President Agarwal says that the implementation of this law is done through collective efforts and because of that, the relationship between employers and workers is improving. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Now I don't have to think that there will be a labor problem and the industrialists don't think so either," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a study conducted by the FNCCI in 2010, strikes were the most common in industry. After that, there were problems like going on collective leave, delaying work, refusing to work overtime, obstructing work, surrounding and locking out industrial establishments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Workers affiliated to the Maoists demanded hike in wages, permanent status of workers, handover of contracts, no layoff of workers, and in some cases industries were closed to implement the decision of the Maoists. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shrestha said that although laborers went on strike for the establishment of democracy in the past, the current situation is different. "We will do it only if there is a need for a strike to address our demands," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the Labor Act 2074 was made through collective discussion with stakeholders. Contribution-based Social Security Act 2074 was also brought after collective debate. "Earlier, the employers did not care about the workers/labourers and did not call them in any forum. Now, at least they participate in tripartite debate, and there are many debates on this issue," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, now the demands are addressed through collective bargaining at the establishment level. "Only if that doesn't happen, we will go to the level of agitation and strike," President Shrestha said, "It does not mean that the strike has stopped completely." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Two years ago, all the tea plantations were closed to enforce the minimum wage.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There have been no activities such as strike in Nepal by the laborers. Maniraj Gope, Director and Spokesperson of the Department of Labor and Occupational Safety, says that there is no strike as there are few job opportunities in the country and the laborers do not want to lose their jobs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the other hand, the situation of job creation is decreasing. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although there is a peaceful environment now, it does not mean that the workers have not filed any complaints with the department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Gope, workers are still in trouble in places where the government and trade unions are not present. "The government has set a minimum wage of Rs 17,300 per month. But even now, the workers are forced to work for wages below the minimum wage and they have not even raised their voice for their right to keep their jobs," Gope said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, he believes that after the implementation of the Labor Act 2074 and contribution-based social security laws, the issue of labor exploitation has decreased. "Efforts have been made to solve the problem," he said.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20601', 'image' => '20240502025946_e5f558b4.jpg', 'article_date' => '2024-05-02 14:58:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20872', 'article_category_id' => '1', 'title' => 'Why are the Share Prices of Some Loss-Making Companies High?', 'sub_title' => '', 'summary' => 'May 2: Despite being in losses, the share prices of a dozen development banks and finance companies seem to be high. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">May 2: Despite being in losses, the share prices of a dozen development banks and finance companies seem to be high. Generally, the share price of loss-making companies is also expected to decrease. Even though the loss-making companies have published their financial statements, the share price of some organizations seems to be rising day by day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">According to the third quarter financial statements of the current fiscal year (FY), </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> development banks and finance companies are in losses. Some of them have been running at a loss since a long time while some incurred loss for the first time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">For example, Saptakoshi Development Bank is in loss as per the financial statement of the bank for the third quarter of the current year. During the same period last year, the bank was in loss. Its earnings per share is negative and its share of bad loans is also </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.4</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> percent. However, when the market closed on Tuesday, its share price was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">338</span></span> <span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">per unit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Pokhara Finance has a loss of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.23</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif""> million as of the third quarter of the current fiscal year. By the third quarter of last year, this finance company was in profit of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">35</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7</span></span> <span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">million. Its latest price per share is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">679</span></span><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Damaru Ballabh Ghimire, an experienced investor, said that the share price of some companies that are in loss has increased abnormally due to the tendency of some investors to buy shares of companies with low capital and a small number of shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">In the stock market, it is common for some investors to earn and others to lose. However, Ghimire says that it is necessary to consider why the share price of companies that have not been paying dividends for a long time has increased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">He suggested to the investors that the investment made in the shares of a good company is less likely to sink. He suggests that one should invest only after understanding the real situation of the company without being lured by the greed of the active groups with the aim of making profit for themselves.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Generally, the share price in the secondary market fluctuates depending on the financial health of the listed company, the profit and loss situation, the ratio of share price and earnings per share, investors’ morale, availability of liquidity in the financial system, interest rates of banks, etc. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">When all these things are negative, the price has gone up, so it is considered abnormal. Experts say that recently, when investors invest in how they can get immediate benefits rather than considering the financial health of the companies. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Investor Dipendra Agarwal says that there is a tendency to invest in companies that are making loss at present considering the prospects of those companies performing better in the future.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">Recently, the increase in bad loans of banks and financial institutions has affected the income. Due to the provisioning of large amount of income, there is pressure on the profit. The financial condition of banks and financial institutions is not satisfactory due to economic recession, slow business, low demand for credit etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"ekmukta","serif"">"Investors invest in institutions recognized by Nepal Rastra Bank even if they are in immediate loss, thinking that they can do well in the long run," Agarwal said.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20600', 'image' => '20240502021405_Multibagger_stocks_1669349102838_1669349103187_1669349103187.jpg', 'article_date' => '2024-05-02 14:13:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20873', 'article_category_id' => '1', 'title' => 'Government, Development Partners Launch Public Expenditure and Financial Accountability Assessments', 'sub_title' => '', 'summary' => 'May 2: Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, says the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment Reports.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 2: Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, says the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment Reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The PEFA Performance Assessment Reports were jointly launched by the Government of Nepal with support from the Multi-Donor Trust Fund on Tuesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the assessment was done based on the internationally recognized PEFA Framework to assess the progress of Public Financial Management (PFM) across the government. Based on the assessments, the Government of Nepal will prepare a medium-term PFM Reform Strategy and Action Plan, the World Bank wrote on its wrbsite.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Public financial management has the power to change people's lives and livelihoods,” said Finance Minister Barsha Man Pun, adding that Nepal is committed to establishing a strong and robust public finance system and transforming the public financial management landscape through rigorous reforms and adoption of digital governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Government of Nepal partnered with the Nepal Public Financial Management Multi-Donor Trust Fund supported by Australia; European Union; the United Kingdom’s Foreign, Commonwealth, and Development Office; Norway; Switzerland; and U.S. Agency for International Development and administered by the World Bank to conduct the assessments. The reports consist of the PFM Performance Assessment, Climate Responsive PFM Performance Assessment, and Gender Responsive PFM Performance Assessment, the World Bank added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the multilateral donor agency, Nepal is the second country after Bhutan in South Asia to undertake PEFA Climate and PEFA Gender Assessments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the PFM performance assessment, the government has deployed a range of information systems to enhance the efficiency of PFM. The adherence to international standards in the budget and accounts classification ensures comparability, accuracy, comprehensiveness, and transparency in financial information, the World Bank stated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the assessment reports, budgets are designed with a medium-term outlook, and the predictability of resource availability for spending units is at a high level. The fiscal transfers allocated to subnational governments exhibit transparency and adherence to established rules while the scope and coverage of both the internal and external audits are extensive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Nepal’s successful completion of the PEFA assessment demonstrates its commitment to sound financial management practices,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “Development partners, including the World Bank, are committed to supporting the next generation of public financial management reforms for Nepal’s green, resilient, and inclusive development.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “As the PEFA assessment demonstrates, some crucial elements center on fiscal discipline and its impact on service delivery. Better fiscal discipline is needed for more effective, inclusive, and accountable delivery of services,” said Karen Welch, Acting Mission Director of USAID Nepal. “We, the development partners, bring assistance that supports the government’s efforts across many sectors, like health and education, environmental preservation, and attention to marginalized groups. Sound PFM allows us to work together to better benefit the people of Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The program was chaired by Finance Secretary Madhu Kumar Marasini. Chief Secretary, Dr. Baikuntha Aryal, Revenue Secretary, Dr. Ram Prasad Ghimire, and Financial Comptroller General, Hari Prasad Mainali expressed their views and reiterated their commitment for PFM reforms as indicated by this assessment. The event also included a panel discussion on the topic: “How can Nepal improve capital expenditure to achieve development outcomes?”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The event was attended by high-level government officials, accountability institutions, and development partners involved in PFM, including climate and gender agencies.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20599', 'image' => '20240502023629_Nepal-PEFA-report-dissemination-event-2024.jpg', 'article_date' => '2024-05-02 14:35:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20871', 'article_category_id' => '1', 'title' => 'Pokhara Airport Resumes Flight Operations from Today ', 'sub_title' => '', 'summary' => 'May 2: The Pokhara Regional International Airport, which had been temporarily closed due to low visibility over the past few days, has resumed its services as of Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 2: The Pokhara Regional International Airport, which had been temporarily closed due to low visibility over the past few days, has resumed its services as of Thursday morning. Buddha Air's Information Officer Dipendra Kumar Karna confirmed that the airport reopened following improved visibility conditions.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Air services at the airport had been irregular for the past four days, with flight operations completely halted for two days and partially operated for the remaining two days. Low visibility in the area, exacerbated by incidents of forest fires nearby and the presence of haze, led to the disruptions of flights.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, with weather conditions improving as of Thursday morning, air services have been restored. Passengers who had purchased flight tickets during the closure period opted to travel by road instead. -- RSS</span></span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20598', 'image' => '20240502010830_20200729025616_1595940577.jpg', 'article_date' => '2024-05-02 13:07:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20870', 'article_category_id' => '1', 'title' => 'Narayangadh-Butwal Road Reports 50 Percent Progress in over Five Years ', 'sub_title' => '', 'summary' => 'May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The east section of the Narayangadh-Butwal road along the East-West Highway has seen 50 percent work progress ever since the upgrading work started more than five years ago. The project was initially supposed to be completed within 42 months but has not achieved the target even in five years and three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A 33-kilometre stretch in the east section has been blacktopped as of April 27, confirmed Engineer Shiva Khanal, the Information Officer for the Narayangadh-Butwal Road Project.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the progress is gaining momentum in recent months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Khanal, 18 kilometres of road were upgraded on one side in the last five months alone when took nearly half a decade to blacktop just 15 kilometres previously. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All small bridges spanning 25 metres have been already constructed. Now the construction of large bridges is in progress, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rakesh Jha, the representative of China State Construction Engineering Corporation Limited reports that site clearance work is awaited at Dumkauli, Rajahar, and Gaindakot, causing delays in the overall upgrading process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project to upgrade a 113-kilometre road stretch from Gaindakot to Lumbini has been implemented by dividing it into two clusters: 64.42 kilometres from Gaindakot to Daunne (East Section), and 48.58 kilometres from Daunne to Butwal (West Section). Facilitated by a loan of Rs 16.99 billion from the Asian Development Bank, this project has been recognised as a project of national pride. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urban areas along the road section will have additional two lanes, while in Daunne, it will have a three-lane setup along a five-kilometre stretch due to topographical issue, the company stated. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20597', 'image' => '20240502123213_ANI-20230304092024.jpg', 'article_date' => '2024-05-02 12:31:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20869', 'article_category_id' => '1', 'title' => 'Why Energy Storage is Key to Global Renewable Goals', 'sub_title' => '', 'summary' => 'May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">May 2: G7 environment ministers committed on Tuesday to ramp up the production and deployment of battery storage technology, an essential component for increasing renewable energy and combating climate change, AFP reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Here is how and why batteries play a vital role in the energy transition:</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Growing demand</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Batteries have been central to the rise of electric vehicles (EVs) but are also critical to wind and solar power because of the intermittent nature of these energy sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Surplus electricity must be stored in batteries to stabilise distribution regardless of peaks in demand, or breaks in supply at night or during low winds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Battery deployment in the energy sector last year increased more than 130 percent from 2022, according to a report released last week by the International Energy Agency (IEA).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main markets are China, the European Union and the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following closely are Britain, South Korea, Japan and developing nations in Africa, where solar and storage technology is seen as the gateway to energy access.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Six-fold goal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">To triple global renewable energy capacity by 2030 -- a goal set at the UN climate conference in December -- the IEA says a six-fold increase in battery storage will be necessary.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Clean energy is essential to reduce emissions from burning fossil fuels and to hope to keep the international target of restricting global warming to 1.5 degrees Celsius above pre-industrial levels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The total storage capacity required to achieve this target is an estimated 1,500 gigawatts by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Of this, 1,200 GW will need to be supplied by batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Cost challenges</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In less than 15 years, the cost of batteries has fallen by 90 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The combination of solar PV and batteries is today competitive with new coal plants in India. And just in the next few years, it will be cheaper than new coal in China and gas-fired power in the United States," IEA chief Fatih Birol said last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"But still the pace is not fast enough to reach our goals in terms of climate change and energy security."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Costs will have to come down further, he said, while calling for supply chains to be diversified.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Most batteries are currently produced by China.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">But some 40 percent of planned battery manufacturing projects are in the United States and Europe, according to the IEA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">If those projects are realised, they would be nearly sufficient to meet the needs of those countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Metal matters</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another thorny issue is the availability of critical metals like lithium and cobalt that are essential to make batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Experts say the development chemical alternatives could complement the dominant lithium-ion technology.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Transition in the technology will reduce the amount of lithium" needed, said Brent Wanner, head of the IEA's power sector unit, adding, "this includes shifting to sodium-ion batteries".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Beyond 2030, high-density solid-state batteries that offer a longer lifespan are expected to become commercially available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are other storage options, although not as widely applicable or available as batteries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pumped storage hydropower has long been used in the hydroelectric sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The transformation of electricity into hydrogen, which can be stored and transported, is a new technology expected to become more readily available.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Be flexible</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Renewable energy is not entirely reliant on storage and measures can be taken to improve the flexibility of its production to meet demands.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Industry and governments are gearing up for the transition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The European Union's Energy Regulators Agency called on member states in September to asses their "flexibility potential" based on estimates that renewables will need to double by 2030.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Such a rise requires greater "flexibility" in grids, meaning energy can be stored and distributed consistently despite fluctuating production and demand.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The G7 said Tuesday it would not only support more production and use of battery storage, but promote technological advancements in the sector as well as grid infrastructure. - AFP</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20596', 'image' => '20240502113550_1626257781878815.jpg', 'article_date' => '2024-05-02 11:34:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20868', 'article_category_id' => '1', 'title' => 'Forest Fires Raging across the Country, with 165 Incidents Reported', 'sub_title' => '', 'summary' => 'May 1: The situation of forest fires is getting worse across the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: The situation of forest fires is getting worse across the country. The National Disaster Risk Reduction and Management Authority reports that wildfires are currently taking place at 165 places in 39 districts as of Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With no forecast of immediate rainfall, forest fires are likely to continue further. The Weather Forecasting Division under the Department of Hydrology and Meteorology has said that there will be no rainfall in the next few days that could help control the fire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Govind Jha of the Division said that there is a probability of rain in some parts of the country for the next three days but it will not be enough to douse the forest fires. "There is a possibility of rainfall with partial showers in some hill areas of Koshi, Gandaki and Karnali in the next few days,"he said, adding, "But the amount of rainfall is not likely to control the forest fires." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, two people died in Lalitpur while trying to douse the fire in Tapeshwar Community Forest in Badikhel of Godavari Municipality-4. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sundar Sharma, an expert at the NDRRMA, said that it is difficult to control forest fires due to the lack of rain for a long time. There are usually around 2,500 fire incidents in Nepal every year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Eighty percent of forest fires occur in the four months from late March to late May. Hence, we are now at a high risk period," said Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the incidents of forest fire are rising due to lack of sustainable management of forests, forest expert Dr Soni Baral Gauli stressed the need of management-oriented forest development rather than protection-oriented forest management. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Forest Officer at the Division Forest Office, Lalitpur, Thir Prasad Koirala shared that people light fires in forest to chase away wild animals to stop them from entering the village and attacking their cattle. He further said the incidents of forest fire are increasing due to human activities including throwing cigarette butts after smoking in the jungle and setting the jungle in fire intentionally to help grow grass faster. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section 49 (d) of the Forest Act has a provision that those involved in setting national forests in fire or involved in any fire-related incident would be punished. "Those involved in such activities will face three years of imprisonment or Rs 60,000 fine or both', reads the Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the forest fire management strategy-2067 has set a target of establishing and strengthening policy and organisational-level structures, mobilizing local community, civil society, government and non-government bodies and making preparedness to take pre information about the possible risk from wildfire to manage forest fires. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, President of the Federation of Community Forestry Users Nepal, Thakur Bhandari, points out the lack of effective implementation of the strategy. Some of the forest users have lost their lives in course of bringing the forest fire under control, he added, stating that the government has to increase capacity on how to control fire incidents safely. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-02', 'modified' => '2024-05-02', 'keywords' => '', 'description' => '', 'sortorder' => '20595', 'image' => '20240502105348_20230421125013_GopalKafle_Pathari_RSS_2023_04_18_18_20_IMG_1926.jpg', 'article_date' => '2024-05-02 10:53:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20867', 'article_category_id' => '1', 'title' => 'Record-Holder Climber Kamirita Ascending Sagarmatha for a Record 29th Time ', 'sub_title' => '', 'summary' => 'May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Veteran climber Kamirita Sherpa, who holds the world record for climbing Sagarmatha (Mt Everest) 28 times, is preparing to set a new record. The 54-year-old Sherpa who climbed the world's highest peak for the 28th time last year is set for the 29th ascent this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He has already reached the Everest Base Camp in this connection. "This year, I have set out for climbing Sagarmatha for the 29th time. I have no plan of climbing Sagarmatha for any specific number of times. Let me ascend towards the summit and see how far I can," said Kamirita, who has reached the Base Camp via Lukla and Namche. He had set out for the expedition from Kathmandu a week back as part of the Spring Season Everest expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is accompanying a mountaineering expedition team comprising about 28 climbers. The expedition is managed by Seven Summit Treks Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mingma Sherpa, chairperson of Seven Summit Treks, said that Kamirita has reached the Everest Base Camp for his 29th ascent of Sagarmatha through his company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Mingma, most of the climbers have reached the Base Camp and they are waiting for appropriate time for climbing Sagarmatha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eighty mountaineers have gone for ascending Sagarmatha via the Seven Summit Treks alone this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita has been climbing Sagarmatha as the guide for the climbers. He will set a new record by breaking his own previous record, if he succeeds in climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kamirita is a record-setter climber for the highest number of ascents on the world's tallest peak in the 71-year-long history of Sagarmatha climbing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pasang Dawa Sherpa, also from Solukhumbu, had climbed Sagarmatha for the 27th time last year. But, it is not confirmed whether he will be climbing Sagarmatha this time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am going to climb Sagarmatha, I have no other purpose," Kamirita said, "I have only continued the profession of mountain climbing, I did not climb for a record." -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20594', 'image' => '20240501064139_8_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2024-05-01 18:41:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20866', 'article_category_id' => '1', 'title' => 'Slump in Economic Activities Continues despite Government’s Claim of Improvement', 'sub_title' => '', 'summary' => 'May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 1: Due to the decline in trade of industries, Nepal's economy is poised to grow nominally this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Annual National Accounts Estimates made public by the National Statistics Office on Tuesday, Nepal's economic growth rate in consumer prices for the current financial year (FY) 2080/81 will be 3.87 percent. This growth rate is less than the target set by the government, which is 6 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The economic growth rate projected by the National Statistics Office for this year is close to the earlier projections made by the World Bank and Asian Development Bank. Last month, the World Bank had projected the Nepalese economy to grow by 3.3 percent and the Asian Development Bank by 3.6 percent. The growth rate has been projected on the basis of the actual economic activities in the first nine months of the current fiscal year and the growth rate projections for the next three months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last fiscal year 2079/80, Nepal's revised economic growth rate was 1.95 percent, but now it has increased slightly despite a contraction in Nepal's construction business and productive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the office, the productive sector is estimated to grow by 1.6 percent. The growth of the construction sector is estimated at 2.07 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The overall demand for goods and services has declined due to the decline in the business of the construction and trade sector. As a result, the industries have not been able to operate in full capacity,” reads a statement issued by the NSO on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The private sector has been complaining for a long time about not being able to run the industry at full capacity due to lack of demand in the market. The NSO said, “If there is no significant improvement in the global economy, it is expected that Nepal's industries will see a further contraction including their output.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NSO, the construction sector is estimated to be shrinking due to import of construction materials and reduction in production of construction materials domestically. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The construction sector can benefit from the capital expenditure of the government. However, the government has not been able to spend much of the capital expenses allocated in the current fiscal year’s budget. According to the records of the Financial Controller General’s Office, the government’s capital expenditure stands at only Rs 130 billion out of the allocated budget of Rs 302 billion as of April end. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trade (wholesale and retail) sector, which had contracted last year, has not shown much improvement. The government estimates that the growth rate of this sector will be only 0.16 percent. The business sector is the sector that contributes the most to the economy after agriculture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the NSO informed that there has been slowdown in the real estate business and education sector as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala says that economic indicators are still not positive. Koirala said that the government does not have a plan to deal with the impacts of coronavirus as well as the Russia-Ukraine war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Koirala said that the industries and factories have been affected due to lack of strategy on the part of the government to manage such a crisis. He said that there are many problems in the governance system and the economy will remain affected unless they are improved. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“To improve the economy, the government should look at policy reforms and create an investment-friendly environment,” he said. According to Koirala, the government needs to spend the budget effectively and increase investment in the market to make the economy vibrant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the positive side, the food and accommodation sector has seen a notable growth due to the rise in arrival of tourists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The growth rate of this sector is estimated to be 21.84 percent, while the growth of hydropower and electricity sector is estimated to be 17.44 percent. Similarly, the growth rate of transport and storage sector is estimated to be 11.89 percent. The growth rate of financial and insurance services will be 7.86 percent this year, according to the NSO.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The annual average per capita income of Nepalese is estimated to reach US dollars 1,456. According to the exchange rate on Tuesday, the annual average per capita income of Nepalese is Rs 194,026. Last year such income was USD 1,405. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, in the current year the size of the economy at current prices is estimated to exceed Rs 5.7 trillion. Last year the economy was estimated to have reached a size of Rs 5.38 trillion. Generally the economic growth rate is measured by consumer prices. </span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20593', 'image' => '20240501030112_20151216125539_ed.jpg', 'article_date' => '2024-05-01 15:00:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
