The government of Nepal collected around Rs 358 million in Value Added Tax (VAT) from foreign firms for services provided to Nepali consumers over the internet in the last fiscal year, 2023/24, according to the Large Taxpayers…
The government of Nepal collected around Rs 358 million in Value Added Tax (VAT) from foreign firms for services provided to Nepali consumers over the internet in the last fiscal year, 2023/24, according to the Large Taxpayers…
KATHMANDU, August 6: Price of gold, which had surged to an all-time high in the domestic market on Monday, dropped by Rs 2,300 per tola (11.66 grams) on…
The dividend distribution capacity of most commercial banks declined in the last fiscal year, FY 2023/24, with four banks unable to distribute dividends at…
KATHMANDU, August 6: A total of 154 people lost their lives in this year's monsoon-induced disasters so…
KATHMANDU, August 6: Nepal defeated the Maldives to book a place in the semi-finals of the CAVA Women's Nations Volleyball League on…
The Indian government has approved around Rs 91 billion in investment for the Lower Arun Hydroelectric Project, which is being developed by India’s state-owned SJVN…
…
The Tourism and Industry Office Kaski recorded the registration of 649 new business firms in the last fiscal year of 2080/2081. These included 13 cottage industries and 636 small…
DHAKA, Aug 5: Sheikh Hasina once helped rescue Bangladesh from military rule but her long rule came to a sudden end on Monday as protesters stormed her palace in…
Eleven Nepali containers loaded with molasses for exports to Bangladesh have been stuck along the eastern transit point in Kakarvitta of Jhapa district, following a political unrest in…
Bangladesh’s Prime Minister Sheikh Hasina has reportedly resigned and fled the country in the face of ongoing protests, Al Jazeera reported on…
The Nepal Stock Exchange (NEPSE) Index saw a significant gain of 40.76 points, or 1.47%, closing at 2796.38 on the first trading day of the week on…
National level development banks in Nepal have reported a 9.39% increase in their net profit for the fiscal year…
The government is poised to raise a significant amount of internal debt in the first quarter of the current fiscal year.…
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movies, television, music, over the top and similar subscription based services; and online marketplace and goods and services to be provided through it, among others, fall under the ‘digital service’. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IRD had asked such foreign firms to be registered in Nepal from July 17, 2022, the beginning of the fiscal year 2022/23.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21483', 'image' => '20240806030120_2024041703362274520_1599400665.tax.jpg', 'article_date' => '2024-08-06 14:59:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21757', 'article_category_id' => '1', 'title' => 'Price of Gold Falls After Reaching a Record High in Nepal', 'sub_title' => 'The precious yellow metal became cheaper by Rs 2,300 per tola on Tuesday', 'summary' => 'KATHMANDU, August 6: Price of gold, which had surged to an all-time high in the domestic market on Monday, dropped by Rs 2,300 per tola (11.66 grams) on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 6: Price of gold, which had surged to an all-time high in the domestic market on Monday, dropped by Rs 2,300 per tola (11.66 grams) on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Following the fall in price, hallmark gold is being traded at Rs 147,700 per tola, according to the Federation of Gold and Silver Dealers' Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Monday, it was traded at Rs 150,000 per tola.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, worked gold, which was traded at Rs 149,500 on Monday, is being traded at Rs 147,000 per tola.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of silver has also gone down by Rs 60 per tola to be traded at Rs 1,725 per tola on Tuesday. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21482', 'image' => '20240806025201_cd5483b7.jpeg', 'article_date' => '2024-08-06 14:50:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21755', 'article_category_id' => '1', 'title' => 'Dividend Distribution Capacity of Commercial Banks Declines', 'sub_title' => '', 'summary' => 'The dividend distribution capacity of most commercial banks declined in the last fiscal year, FY 2023/24, with four banks unable to distribute dividends at all.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Laxmi Sharma </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 6</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The dividend distribution capacity of most commercial banks declined in the last fiscal year, FY 2023/24, with four banks unable to distribute dividends at all.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the unaudited financial statements published by commercial banks for the last fiscal year, while the number of banks unable to distribute dividends decreased in the fourth quarter compared to the third quarter, investors of most banks will still see limited returns.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Investment Mega Bank, Kumari Bank, NIC Asia Bank, and Himalayan Bank reported in their financial statements that they have no capacity to distribute dividends. In addition to these four banks, Laxmi Sunrise Bank, Nepal Bank, NMB Bank, Global IME Bank, Machhapuchhre Bank, and Siddhartha Bank had negative distributable profits in the third quarter of last year. However, six of these banks were able to distribute some dividends in the last quarter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Besides those unable to distribute dividends, 10 other commercial banks saw a decrease in their dividend distribution capacity compared to the previous year. These banks include NMB Bank, Siddhartha Bank, Global IME Bank, Rastriya Banijya Bank, Machhapuchhre Bank, Citizens Bank, Laxmi Sunrise Bank, Sanima Bank, Standard Chartered Bank, and Everest Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former banker Bhuwan Dahal attributed the decline in dividend distribution to high non-banking assets and failure to collect interest. He noted earlier in May that many commercial banks were unable to show profits because they could not collect interest due from the borrowers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"As per the instructions of Nepal Rastra Bank (NRB), the amount equal to the interest that has not been collected cannot be shown in the distributable profit as regulatory adjustment is required," Dahal explained. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB's regulatory adjustments include accrued interest, provisioning on non-banking assets, and potential losses on investments. Despite the overall decrease in dividend capacity, Everest Bank had the highest dividend capacity last year at 29.86 percent, down from 38.42 percent in FY 2022/23.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standard Chartered Bank was second with a dividend capacity of 26.5 percent, slightly lower than the previous year's 28.75 percent. The Agriculture Development Bank ranked third with a dividend capacity of 17.37 percent, an increase from the previous year's 9.24 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Among the 20 commercial banks, NMB Bank had the lowest dividend capacity, at just 1.3 percent, down from 6.21 percent in FY 2022/23. In the same year, eight other commercial banks did not distribute dividends to shareholders.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Investors are concerned that the decreasing dividend capacity and rates may reduce the attraction towards shares of commercial banks. NRB has allowed banks and financial institutions to include interest up to mid-August in their financial statements up to mid-July. This provision means there could be some changes in the profit and dividend capacities once the audited financial statements are released.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21481', 'image' => '20240806013648_Banks - Copy.jpg', 'article_date' => '2024-08-06 13:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21754', 'article_category_id' => '1', 'title' => '154 Killed due to Monsoon-Induced Disasters ', 'sub_title' => 'MPs draw government's attention to resolve problems caused by monsoon disaster ', 'summary' => 'KATHMANDU, August 6: A total of 154 people lost their lives in this year's monsoon-induced disasters so far. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU, August 6: A total of 154 people lost their lives in this year's monsoon-induced disasters so far. </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"">Landslide, floods and inundation claimed three lives in Kathmandu Valley, 25 in Koshi, six in Madhes, 20 in Bagmati, 43 in Gandaki, 29 in Lumbini, eight in Karnali and 10 in Sudurpaschim provinces, according to Nepal Police Headquarters. </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"">Forty-seven people went missing and 186 were injured in the disaster. A total of 384 houses were waterlogged due to flood whhile 261 houses, 95 huts, 43 bridges, two school buildings and two government offices suffered damages, said police. </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"">Similarly, 4,238 families were displaced due to disaster since June 10. </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, Members of Parliament drew the attention of the government to solve the problems caused by floods, landslides and inundation in different parts of the country. </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"">Speaking during the 'urgent Hour' of the Lower House meeting on Monday, they drew the attention of the government to effectively oversee natural disaster risk management, relief and rescue works. </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"">Lawmakers Surya Thapa, Maya Rai, Hemraj Rai and Prem Maharjan drew the government's attention to manage immediate reliefs to the victims of natural disaster. -- RSS </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21480', 'image' => '20240806123235_KDN-Dang-DSC_1164.jpg', 'article_date' => '2024-08-06 12:31:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21753', 'article_category_id' => '1', 'title' => 'Nepal into Semis of CAVA Women's National League Volleyball ', 'sub_title' => '', 'summary' => 'KATHMANDU, August 6: Nepal defeated the Maldives to book a place in the semi-finals of the CAVA Women's Nations Volleyball League on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU, August 6: Nepal defeated the Maldives to book a place in the semi-finals of the CAVA Women's Nations Volleyball League on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal defeated the Maldives in straight sets of 25-8, 25-19 and 25-18 in the last group-stage match held at the National Sports Council’s Covered Hall in Tripureshwar on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the win, Nepal finished second in the points table and will now meet Iran in the semi-finals. Iran finished third in the points table. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India and Sri Lanka will compete in the first semi-final. India topped the league while Sri Lanka finished fourth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first semi-final between Sri Lanka and India will start at 3:00 pm today (Tuesday) at the same venue while Nepal will face Iran in the second semi-final starting at 5:15 pm. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21479', 'image' => '20240806120108_GUD4D2JW8AAraFD.jpg', 'article_date' => '2024-08-06 11:59:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21752', 'article_category_id' => '1', 'title' => 'Indian Government Approves around Rs 91 Billion for Lower Arun Hydroelectric Project', 'sub_title' => 'The 669 megawatts project is being developed by India’s state-owned Satluj Jal Vidyut Nigam (SJVN)', 'summary' => 'The Indian government has approved around Rs 91 billion in investment for the Lower Arun Hydroelectric Project, which is being developed by India’s state-owned SJVN Limited.', 'content' => '<p><span style="font-size:18px">NewBiz Report</span></p> <p><span style="font-size:18px">KATHMANDU, August 5</span></p> <p><span style="font-size:18px">The Indian government has approved around Rs 91 billion in investment for the Lower Arun Hydroelectric Project, which is being developed by India’s state-owned SJVN Limited.</span></p> <p><span style="font-size:18px">The Cabinet Committee on Economic Affairs, chaired by Indian Prime Minister Narendra Modi, approved the investment of INR 5,792.36 crore (around Rs 91 billion) for the 669 megawatts project, according to India media reports.</span></p> <p><span style="font-size:18px">“The Committee has also accorded Ex-post facto approval for Special Purpose Vehicle SJVN Lower Arun Power Development Company Private Limited (SLPDC), a wholly owned subsidiary of SJVN incorporated in Nepal for implementation of LAHEP [Lower Arun Hydro Electric Project],” reads one of the report. “In addition to this, the Committee has also approved the equity investment of Rs.1737.70 crores [ around Rs 27 billion] in SLPDC.”</span></p> <p><span style="font-size:18px">Lower Arun is one of the projects –along with 900 megawatts Arun III and 490 megawatts Arun IV–being developed by SJVN in Nepal. </span></p> <p><span style="font-size:18px">Nepal Electricity Authority and the SJVN have signed a joint venture agreement to develop the Arun IV project.</span></p> <p><span style="font-size:18px">To be built under build, own, operate and transfer (BOOT) model, Lower Arun is scheduled to be completed in five years and expected to generate 2,901 million units of electricity annually.</span></p> <p><span style="font-size:18px">The hydel project will not have any reservoir as it is going to be a tailrace development of the Arun III hydro project.</span></p> <p><span style="font-size:18px">Earlier in July, 2021, the Investment Board of Nepal (IBN) and SJVN had signed a memorandum of understanding in Kathmandu to develop the hydropower project in eastern Nepal.</span></p> <p><span style="font-size:18px">Last year in April, right before the then Prime Minister Pushpa Kamal Dahal’s visit to India, the IBN had approved an investment of Rs 92.68 billion proposed by SJVN to develop the project.</span></p> <p><span style="font-size:18px">Later in June the same year, SJVN signed the project Development Agreement (PDA) with IBN during the then Prime Minister Pushpa Kamal Dahal’s visit to India.</span></p> <p><span style="font-size:18px">Officials from SJVN have said in the past that they aim to invest in projects generating 5,000 megawatts of electricity in Nepal by 2030.</span></p> <p><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21478', 'image' => '20240806113241_20230601043926_hydro.jpg', 'article_date' => '2024-08-06 11:31:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21751', 'article_category_id' => '1', 'title' => 'Nepal, World Bank Sign Financing Agreement For $100 Million Loan To Project For Improving Roads', 'sub_title' => 'The project aims for building and maintenance of 3,000 km resilient roads in three provinces in the first phase.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 5</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The government and the World Bank on Monday signed a financing agreement for a $100 million concessional loan to be provided by the International Development Association (IDA) for the improvement of provincial and local roads, the global lender said in a press statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">IDA is a part of the World Bank that provides grants and low-interest loans to low income countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Finance Secretary Ram Prasad Ghimire, on behalf of the Government of Nepal, and David Sislen, World Bank Country Director for Nepal, Maldives and Sri Lanka, inked the agreement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The loan is aimed at improving the connectivity, efficiency, resilience, and safety of Nepal’s provincial and local road network and strengthen the government’s capacity to manage the road network.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The first of the three-phase programme will target three of Nepal’s seven provinces and four local areas which will be scaled up in future phases.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“The Provincial and Local Roads Improvement Program (PLRIP)-Phase 1 will build and maintain about 3,000 kilometers of all-weather, resilient, and safe provincial and local roads and bridges, benefiting about one million people in Sudurpaschim, Karnali, and Madhesh provinces,” reads the statement. “It will also strengthen the institutional, management and technical capacity of provincial and local governments to plan, design, construct, and maintain road and bridge infrastructure and improve service delivery.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A separate project agreement was also signed by the Ministry of Urban Development, the participating provinces, and the World Bank, the statement said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sislen said that the programme supports Nepal’s federalism agenda by empowering provincial and local governments and promoting inter-governmental coordination in the transport connectivity sector to help improve the lives of Nepalis through better infrastructure and services.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21477', 'image' => '20240806110230_20240215010906_World.jpg', 'article_date' => '2024-08-06 11:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21750', 'article_category_id' => '1', 'title' => '649 New Business Industries Registered in Kaski', 'sub_title' => '', 'summary' => 'The Tourism and Industry Office Kaski recorded the registration of 649 new business firms in the last fiscal year of 2080/2081. These included 13 cottage industries and 636 small industries.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 6: The Tourism and Industry Office Kaski recorded the registration of 649 new business firms in the last fiscal year of 2080/2081. These included 13 cottage industries and 636 small industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Maharaj Dhakal, Chief Industry Officer of the Cottage and Small Industries Office in Kaski, stated that these new registrations brought in a total investment of Rs 1.91 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The newly registered industries span various sectors: 241 in the service sector, 83 in production, 162 in agriculture and forestry, and three in information technology. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, no new industries were registered in the energy and mining sector. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new industries have also contributed to job creation, providing employment to 2,057 people. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21476', 'image' => '20240806060627_collage (90).jpg', 'article_date' => '2024-08-06 06:05:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21749', 'article_category_id' => '1', 'title' => 'Bangladesh's Iron Lady Sheikh Hasina Falls after 15 Years in Power', 'sub_title' => '', 'summary' => 'DHAKA, Aug 5: Sheikh Hasina once helped rescue Bangladesh from military rule but her long rule came to a sudden end on Monday as protesters stormed her palace in Dhaka.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">DHAKA, Aug 5: Sheikh Hasina once helped rescue Bangladesh from military rule but her long rule came to a sudden end on Monday as protesters stormed her palace in Dhaka.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Her 15 consecutive years in power were marked by an economic rebirth but also by the mass arrest of political opponents and human rights sanctions against her security forces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Protests began in July with rallies led by university students against civil service job quotas but soon escalated into deadly unrest and demands that she step down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Attacks on demonstrators by police and pro-government student groups last month also sparked international condemnation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The autocratic Hasina, 76, won a fifth term as prime minister in January but the opposition boycotted a vote it said was neither free nor fair.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Critics accused her government of a litany of rights abuses, including the murder of opposition activists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The daughter of a revolutionary who led Bangladesh to independence, Hasina presided over breakneck economic growth in a country once written off by US statesman Henry Kissinger as an irredeemable "basket case".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She promised last year to turn all of Bangladesh into a "prosperous and developed country" but around 18 million young Bangladeshis are out of work, according to government figures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Economic rise </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina was 27 and travelling abroad when renegade military officers murdered her father, prime minister Sheikh Mujibur Rahman, and her mother and three brothers in a 1975 coup.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She returned six years later to take the reins of her father's Awami League party, beginning a decade-long struggle that included lengthy stretches of house arrest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina joined forces with Khaleda Zia's Bangladesh Nationalist Party (BNP) to help oust military dictator Hussain Muhammad Ershad in 1990.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But they soon fell out and their ensuing rivalry dominated modern Bangladeshi politics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina first served as prime minister in 1996 but lost to Zia five years later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The pair were imprisoned on corruption charges in 2007 after a coup by a military-backed government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The charges were dropped and they contested an election the following year that Hasina won in a landslide. She had been in power ever since.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Zia, 78, is in poor health and confined to hospital after she was sentenced to 17 years in prison for graft in 2018, with top BNP leaders also behind bars.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Supporters have praised Hasina for leading Bangladesh through an economic boom, largely on the back of the mostly female factory workforce powering its garment export industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bangladesh, one of the world's poorest countries when it gained independence from Pakistan in 1971, has grown an average of more than six percent each year since 2009.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Poverty has plummeted and more than 95 percent of its 170 million people now have access to electricity, with per capita income overtaking India in 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina was also hailed for a decisive crackdown on Islamist militants in the Muslim-majority nation after five Bangladeshi extremists stormed a Dhaka cafe popular with Western expatriates and killed 22 people in 2016.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Silencing dissent </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, her government's intolerance of dissent gave rise to resentment at home and concern from Washington and elsewhere.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Five top Islamist leaders and a senior opposition figure were executed over the past decade after convictions for crimes against humanity committed during the brutal 1971 liberation war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trials triggered mass protests and deadly clashes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Her opponents branded them a farce and a politically motivated exercise to silence dissent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The United States imposed sanctions in 2021 on an elite branch of Bangladesh's security forces and seven of its top officers over charges of widespread human rights abuses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina insisted in the face of the mounting protests that she had worked for her nation and toured areas of Dhaka damaged during days of deadly unrest last month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Over 15 years, I've built this country," she told reporters. "What didn't I do for the people?" – AFP/RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21475', 'image' => '20240805060349_130510-01-02.jpg', 'article_date' => '2024-08-05 18:03:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21748', 'article_category_id' => '1', 'title' => 'Containers Stuck in Transit Points following Political Unrest in Bangladesh', 'sub_title' => 'PM Hasina has resigned and fled the country as protests over the quota system for government jobs escalate, international media report', 'summary' => 'Eleven Nepali containers loaded with molasses for exports to Bangladesh have been stuck along the eastern transit point in Kakarvitta of Jhapa district, following a political unrest in Bangladesh.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">BHADRAPUR, August 5</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Eleven Nepali containers loaded with molasses for exports to Bangladesh have been stuck along the eastern transit point in Kakarvitta of Jhapa district, following a political unrest in Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Protests that began in Bangladesh last month over a 'controversial' quota system for governmental jobs have escalated into nationwide unrest, causing the Prime Minister Sheikh Hasina to resign and flee the country, reported international media.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to Al Jazeera, the Qatar-based media network, the longtime leader of Bangladesh boarded a military helicopter after crowds ignored a national curfew to storm the prime minister’s palace in Dhaka.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The direct impact was seen on Nepal-Bangladesh trade Monday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The trade, which had come to a total halt in mid-July, had resumed a few days ago. But, the border has been closed again for the next three days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the Kakarvitta Branch Office of the Nepal Transit and Warehousing Management Company Limited, some containers have remained stuck in the Phulbari-Banglabandha transitional transit point of Nepal, India, and Bhutan. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, containers en route to Nepal from Bangladesh have remained stranded at the transit point.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Subash Pandey, chief at the office, said the supplies were disrupted with the unrest becoming intense. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">"We have no idea how long it will take to return to normalcy,” said Pandey.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal exported goods worth over Rs 13.5 million to Bangladesh while the value of imports exceeded Rs 206.5 million in the first 11 days of the current fiscal year, 2024/25, which began on July 16, the office data show.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the Mechi Customs Office, Kakarvitta, Nepal exports pulse, herbal products, molasses, foodstuff, animal feed, Khayar (Black Catechu), and coloring agents to Bangladesh, while importing jute, soybean husk, allopathic medicines, lead-acid batteries, garments, fruit juice, glass sheets, biscuits, and chocolates from the country. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Most of the Nepali students pursuing higher educational degrees at several universities in Bangladesh have returned home last month following the unrest. (With inputs from RSS)</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21474', 'image' => '20240805060150_AP24218390076912.jpg', 'article_date' => '2024-08-05 18:00:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21747', 'article_category_id' => '243', 'title' => 'Bangladesh PM Hasina Quits and Flees as Protestors Storm Palace', 'sub_title' => '', 'summary' => 'Bangladesh’s Prime Minister Sheikh Hasina has reportedly resigned and fled the country in the face of ongoing protests, Al Jazeera reported on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bangladesh’s Prime Minister Sheikh Hasina has reportedly resigned and fled the country in the face of ongoing protests, Al Jazeera reported on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Qatar-based media network, the longtime leader of Bangladesh boarded a military helicopter after crowds ignored a national curfew to storm the prime minister’s palace in Dhaka.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">BBC also confirmed that Prime Minister Hasina resigned and fled the country after anti-government protests in which hundreds of people have been killed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Close to 300 people have died amid weeks of protest that erupted due to the dispute related to student’s quota.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following a night of deadly violence that killed close to 100 on Sunday, tension had remained high as protestors called for a march on Dhaka and the army prepared to address the nation,” Al Jazeera reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, the mood on the streets turned celebratory after the news of Hasina’s departure spread.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief of Army Staff General Waker-Uz-Zaman has cancelled his planned address and instead is currently holding talks with major political parties, including the opposition Bangladesh Nationalist Party (BNP).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21473', 'image' => '20240805034837_image-84782-1664270336.jpg', 'article_date' => '2024-08-05 15:47:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21746', 'article_category_id' => '1', 'title' => 'NEPSE Closes Near 2800; Turnover Reaches Rs 21.86 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a significant gain of 40.76 points, or 1.47%, closing at 2796.38 on the first trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 5: The Nepal Stock Exchange (NEPSE) Index saw a significant gain of 40.76 points, or 1.47%, closing at 2796.38 on the first trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the trading session, a total of 326 scrips were traded through 238,078 transactions. The exchange witnessed 49,773,730 units of shares being traded, resulting in a total turnover of Rs 21.86 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Himalayan Re-insurance Company (HRL) led the market in terms of turnover, with a total transaction value of Rs 1.26 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Eight companies, including Ru Ru Jalbidhyut Pariyojana Limited (RURU), CEDB Hydropower Development Company (CHDC), and Sagarmatha Jalbidhyut Company Limited (SMJC), each saw gains of 10%, hitting the upper circuit limit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Nepal Finance Limited (NFS) experienced the largest loss, dropping 10% and hitting the lower circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The market's broader indicators showed mixed results. The Sensitive Index incurred a loss of 0.19%, while the Float Index and Sensitive Float Index fell by 0.93% and 1%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sector-wise, seven sectors, including Hotels and Tourism and the Investment Index, closed in positive territory. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the other hand, six sectors, such as the Finance Index and Microfinance Index, ended the day in the red. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Finance Index recorded the largest decline, falling by 4.61%, whereas the Hotels and Tourism sector saw the most significant gain, increasing by 6.69%.</span></span></p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21472', 'image' => '20240805034720_collage (89).jpg', 'article_date' => '2024-08-05 15:45:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21745', 'article_category_id' => '1', 'title' => 'National Level Development Banks Report 9.39% Surge in Net Profit ', 'sub_title' => 'The eight banks collectively earned approximately Rs 5.55 billion in net profit during the period, up from Rs 5.07 billion in FY 2022/23.', 'summary' => 'National level development banks in Nepal have reported a 9.39% increase in their net profit for the fiscal year 2023/24.', 'content' => '<p><span style="font-size:18px">NewBiz Report</span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">National level development banks in Nepal have reported a 9.39% increase in their net profit for the fiscal year 2023/24.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The eight banks collectively earned around Rs 5.55 billion in net profit in the review period, compared to Rs 5.07 billion in the previous fiscal year, 2022/23.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Among the eight development banks, five—Shangri-la Development Bank, Kamana Sewa Development Bank, Mahalaxmi Development Bank, Lumbini Development Bank, and Muktinath Development Bank—saw an increase in net profit, while three such banks including Shine Resunga Development Bank, Garima Development Bank, and Jyoti Development Bank reported a decline inprofits, according to the unaudited financial reports released on Monday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Muktinath Development Bank recorded the highest net profit of approximately Rs 1.27 billion, while Jyoti Development Bank reported the lowest at around Rs 246.5 million.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The Shangri-la Development Bank and Jyoti Development Bank reported the highest increase and decrease in net profit, respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The table below shows the net profit of the national level development banks for fiscal years 2023/24 and 2022/23.</span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit of the national level development banks</span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Banks</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">(in Rs million)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">(in Rs million)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Changes (%)</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Shangri-la</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">520.47</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">270.41</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">92.47</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Kamana Sewa</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">603.21</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">361.36</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">66.93</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Mahalaxmi</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">470.14</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">377.55</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">24.52</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Lumbini </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">603.78</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">497.67</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">21.32</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Muktinath </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,279.13</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,248.22</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">2.48</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Shine Resunga</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">697.44</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">758.02</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-7.99</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Garima</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,136.18</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,264.67</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-10.16</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Jyoti </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">246.5</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">301.81</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-18.33</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Total</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">5,556.87</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">5,079.75</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">9.39</span></strong></span></span></p> </td> </tr> </tbody> </table> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif""> Sources: Respective development banks</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21471', 'image' => '20240805025756_20240527022740_20210429043853_profit-02.jpg', 'article_date' => '2024-08-05 14:57:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21744', 'article_category_id' => '1', 'title' => 'Government Preparing to Raise Internal Debt of Rs 100 Billion in First Quarter', 'sub_title' => '', 'summary' => 'The government is poised to raise a significant amount of internal debt in the first quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">BIJAYA DAMASE<br /> KATHMANDU, August 5</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The government is poised to raise a significant amount of internal debt in the first quarter of the current fiscal year. According to the Public Debt Management Office (PDMO), the government plans to achieve this by adhering to a debt collection target announced in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">While details about the timing and amount of external loans remain unclear, PDMO has already established a schedule for internal borrowings. The government’s budget for the year outlines a plan to raise Rs 330 billion in domestic debt. Accordingly, PDMO aims to collect Rs 115 billion in the first quarter, which represents 40 percent of the total debt.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">In the first quarter of the previous fiscal year, the government raised approximately Rs 80 billion in internal debt. Within two weeks of the start of the current fiscal year (FY 2024/25), PDMO has already published notices for issuing treasury bills totaling Rs 31.61 billion. On July 29, a notice was published for issuing treasury bills of Rs 21.10 billion. Prior to that, on July 22, the office issued treasury bills of Rs 10.49 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Government officials explain that raising a substantial amount of debt early in the fiscal year is necessary due to the pressure for payment of interests of public debt. The reserves to meet these obligations are currently insufficient, and delaying internal borrowing could result in higher interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Dilaram Giri, information officer at PDMO, told New Business Age, “Due to the obligation to repay a large amount of debt, the loan has to be taken early. Interest rates may become more expensive later, increasing the cost of borrowing.” Currently, ample liquidity in banks and financial institutions has resulted in lower interest rates. These institutions primarily purchase government-issued treasury bills and development bonds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Of late, public debt in Nepal has been rising rapidly. Government figures show significant increases in expenses. PDMO data indicates that the country will need to pay over Rs 1714 billion in the next nine years, with more than Rs 559 billion due in the current year alone. In FY 2023/24, public debt increased by Rs 115 billion, rising from Rs 2299 billion in July of the previous year to Rs 2434 billion by mid-July 2024. This public debt now represents 42.65 percent of the GDP, reflecting a Rs 135 billion increase over the past year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">PDMO records show that internal debt owed by the government has reached Rs 1180 billion, while external debt stands at Rs 1253 billion. The government paid Rs 353.7 billion in public debt interest last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Experts caution that accumulating a large amount of debt early in the fiscal year could have adverse effects. Gopinath Mainali, former secretary of the Government of Nepal, argues that while raising and mobilizing internal debt can be beneficial, excessive accumulation could be detrimental. He noted, “If the raised debt is capitalized and injected into the market, it may not pose a problem. However, if liquidity is withdrawn from the market by reducing capital expenditure and relying heavily on internal loans, it could strain the liquidity of banks and financial institutions, making it difficult for the private sector to obtain loans.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21470', 'image' => '20240805025623_20240606095240_20240605101057_20230910023832_20220712082812_20210901020646_Richest-Nepalese-–-List-of-Top-Richest-People-scaled.jpg', 'article_date' => '2024-08-05 14:55:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21743', 'article_category_id' => '218', 'title' => ' Net Profit of Commercial Banks Jumps 13.4% in Last Fiscal Year', 'sub_title' => 'Nabil Bank posted the highest net profit of Rs 7.06 billion during the period, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Pawan Pandey</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The total net profit of Nepal’s commercial banks surged by 13.4% in the fiscal year 2023/24, ending July 15. The 20 commercial banks collectively earned around Rs 64.15 billion in net profit, compared to approximately Rs 56.57 billion in the previous fiscal year, 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Monday, the banks released their unaudited financial reports for the last quarter of the fiscal year, covering mid-April to mid-July 2024. The reports indicate that 10 of the 20 banks—Nabil Bank, Nepal Investment Mega Bank, Prabhu Bank, Prime Commercial Bank, Everest Bank, Agriculture Development Bank, Laxmi Sunrise Bank, Himalayan Bank, Kumari Bank, and Nepal SBI Bank —recorded an increase in net profit. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Conversely, Global IME Bank, Rastriya Banijya Bank, Standard Chartered Bank, Siddhartha Bank, Sanima Bank, NMB Bank, Nepal Bank Limited, NIC Asia Bank, Citizens Bank International, and Machhapuchchhre Bank saw decline in their net profits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank achieved the highest net profit of Rs 7.06 billion, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion. Notably, Prabhu Bank experienced the largest increase in net profit, while NIC Asia saw the most significant decline.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Table below shows the net profit of the commercial banks in fiscal years 2023/24 and 2022/23.</span></span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Banks</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Change (%)</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prabhu Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.48</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1499.04</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Kumari Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.51</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">345.67</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prime Commercial Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.77</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.02</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">267.19</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Agricultural Development Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.32</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">176.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Himalayan Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.83</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.56</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">81.6</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Investment Mega Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">5.19</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.72</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">39.71</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Laxmi Sunrise Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.03</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">32.79</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">7.06</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.4</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Everest Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.7</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.36</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.07</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal SBI Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.96</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.35</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Standard Chartered Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.46</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.51</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Siddhartha Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.16</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.78</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Rastriya Banijya Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.39</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.59</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-5.48</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sanima Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.6</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-8.59</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Global IME Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.69</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-10.13</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Machhapuchchhre Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.25</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.62</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-23.09</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NMB Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.33</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.22</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.49</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Citizens Bank International</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.34</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.86</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.97</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.43</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-51.8</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NIC Asia Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.44</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-68.91</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Total</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">64.15</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">56.57</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">13.4</span></span></strong></span></span></p> </td> </tr> </tbody> </table> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21469', 'image' => '20240805022717_20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-08-05 14:26:10', '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 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(VAT) from foreign firms for services provided to Nepali consumers over the internet in the last fiscal year, 2023/24, according to the Large Taxpayers Office.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PAWAN PANDEY</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 6</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government of Nepal collected around Rs 358 million in Value Added Tax (VAT) from foreign firms for services provided to Nepali consumers over the internet in the last fiscal year, 2023/24, according to the Large Taxpayers Office.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the previous fiscal year, 2022/23, the government had collected around Rs 100 million in VAT and Rs 16 million in Digital Service Tax (DST). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Digital Service Tax Procedure, 2022 which came into effect from the fiscal year 2022/23, a non-resident person providing digital services to Nepali consumers is charged 2% DST if their annual transaction exceeds Rs 2 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Inland Revenue Department (IRD) had also issued a procedure for VAT applicable to digital service for non-resident persons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Income Tax Act, 2002, uses the 183-day rule as one of the criteria to determine non-residents for tax purposes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Janak Raj Sharma, chief tax administrator at the office, told New Business Age that 18 foreign firms providing such services have been registered in Nepal by the end of the last fiscal year, up from eight by the end of the previous fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among the firms registered in Nepal are Goggle Asia, NCS Pearson, Linkedin, Meta, Microsoft Original, Amazon Web, Amazon.com, Adobe, Netflix, Zoho Corporation, Google Digital, Prometric Japan, Association of Chartered Certified Accountants (ACCA), Pearson Education and Apple Distribution, according to Sharma.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The registered firms will have to present their financial declaration and pay the DST for the last fiscal year by the end of the first quarter of the current fiscal year, Sharma said, adding, “The DST is only levied for services provided to the consumers, not to the businesses.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the procedure, services such as advertisements, data storage, gaming, those related to mobile applications, supply and update of software, and downloads of data and images; movies, television, music, over the top and similar subscription based services; and online marketplace and goods and services to be provided through it, among others, fall under the ‘digital service’. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IRD had asked such foreign firms to be registered in Nepal from July 17, 2022, the beginning of the fiscal year 2022/23.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21483', 'image' => '20240806030120_2024041703362274520_1599400665.tax.jpg', 'article_date' => '2024-08-06 14:59:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21757', 'article_category_id' => '1', 'title' => 'Price of Gold Falls After Reaching a Record High in Nepal', 'sub_title' => 'The precious yellow metal became cheaper by Rs 2,300 per tola on Tuesday', 'summary' => 'KATHMANDU, August 6: Price of gold, which had surged to an all-time high in the domestic market on Monday, dropped by Rs 2,300 per tola (11.66 grams) on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 6: Price of gold, which had surged to an all-time high in the domestic market on Monday, dropped by Rs 2,300 per tola (11.66 grams) on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Following the fall in price, hallmark gold is being traded at Rs 147,700 per tola, according to the Federation of Gold and Silver Dealers' Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Monday, it was traded at Rs 150,000 per tola.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, worked gold, which was traded at Rs 149,500 on Monday, is being traded at Rs 147,000 per tola.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of silver has also gone down by Rs 60 per tola to be traded at Rs 1,725 per tola on Tuesday. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21482', 'image' => '20240806025201_cd5483b7.jpeg', 'article_date' => '2024-08-06 14:50:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21755', 'article_category_id' => '1', 'title' => 'Dividend Distribution Capacity of Commercial Banks Declines', 'sub_title' => '', 'summary' => 'The dividend distribution capacity of most commercial banks declined in the last fiscal year, FY 2023/24, with four banks unable to distribute dividends at all.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Laxmi Sharma </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 6</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The dividend distribution capacity of most commercial banks declined in the last fiscal year, FY 2023/24, with four banks unable to distribute dividends at all.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the unaudited financial statements published by commercial banks for the last fiscal year, while the number of banks unable to distribute dividends decreased in the fourth quarter compared to the third quarter, investors of most banks will still see limited returns.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Investment Mega Bank, Kumari Bank, NIC Asia Bank, and Himalayan Bank reported in their financial statements that they have no capacity to distribute dividends. In addition to these four banks, Laxmi Sunrise Bank, Nepal Bank, NMB Bank, Global IME Bank, Machhapuchhre Bank, and Siddhartha Bank had negative distributable profits in the third quarter of last year. However, six of these banks were able to distribute some dividends in the last quarter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Besides those unable to distribute dividends, 10 other commercial banks saw a decrease in their dividend distribution capacity compared to the previous year. These banks include NMB Bank, Siddhartha Bank, Global IME Bank, Rastriya Banijya Bank, Machhapuchhre Bank, Citizens Bank, Laxmi Sunrise Bank, Sanima Bank, Standard Chartered Bank, and Everest Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former banker Bhuwan Dahal attributed the decline in dividend distribution to high non-banking assets and failure to collect interest. He noted earlier in May that many commercial banks were unable to show profits because they could not collect interest due from the borrowers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"As per the instructions of Nepal Rastra Bank (NRB), the amount equal to the interest that has not been collected cannot be shown in the distributable profit as regulatory adjustment is required," Dahal explained. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB's regulatory adjustments include accrued interest, provisioning on non-banking assets, and potential losses on investments. Despite the overall decrease in dividend capacity, Everest Bank had the highest dividend capacity last year at 29.86 percent, down from 38.42 percent in FY 2022/23.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standard Chartered Bank was second with a dividend capacity of 26.5 percent, slightly lower than the previous year's 28.75 percent. The Agriculture Development Bank ranked third with a dividend capacity of 17.37 percent, an increase from the previous year's 9.24 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Among the 20 commercial banks, NMB Bank had the lowest dividend capacity, at just 1.3 percent, down from 6.21 percent in FY 2022/23. In the same year, eight other commercial banks did not distribute dividends to shareholders.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Investors are concerned that the decreasing dividend capacity and rates may reduce the attraction towards shares of commercial banks. NRB has allowed banks and financial institutions to include interest up to mid-August in their financial statements up to mid-July. This provision means there could be some changes in the profit and dividend capacities once the audited financial statements are released.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21481', 'image' => '20240806013648_Banks - Copy.jpg', 'article_date' => '2024-08-06 13:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21754', 'article_category_id' => '1', 'title' => '154 Killed due to Monsoon-Induced Disasters ', 'sub_title' => 'MPs draw government's attention to resolve problems caused by monsoon disaster ', 'summary' => 'KATHMANDU, August 6: A total of 154 people lost their lives in this year's monsoon-induced disasters so far. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU, August 6: A total of 154 people lost their lives in this year's monsoon-induced disasters so far. </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"">Landslide, floods and inundation claimed three lives in Kathmandu Valley, 25 in Koshi, six in Madhes, 20 in Bagmati, 43 in Gandaki, 29 in Lumbini, eight in Karnali and 10 in Sudurpaschim provinces, according to Nepal Police Headquarters. </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"">Forty-seven people went missing and 186 were injured in the disaster. A total of 384 houses were waterlogged due to flood whhile 261 houses, 95 huts, 43 bridges, two school buildings and two government offices suffered damages, said police. </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"">Similarly, 4,238 families were displaced due to disaster since June 10. </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, Members of Parliament drew the attention of the government to solve the problems caused by floods, landslides and inundation in different parts of the country. </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"">Speaking during the 'urgent Hour' of the Lower House meeting on Monday, they drew the attention of the government to effectively oversee natural disaster risk management, relief and rescue works. </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"">Lawmakers Surya Thapa, Maya Rai, Hemraj Rai and Prem Maharjan drew the government's attention to manage immediate reliefs to the victims of natural disaster. -- RSS </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21480', 'image' => '20240806123235_KDN-Dang-DSC_1164.jpg', 'article_date' => '2024-08-06 12:31:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21753', 'article_category_id' => '1', 'title' => 'Nepal into Semis of CAVA Women's National League Volleyball ', 'sub_title' => '', 'summary' => 'KATHMANDU, August 6: Nepal defeated the Maldives to book a place in the semi-finals of the CAVA Women's Nations Volleyball League on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU, August 6: Nepal defeated the Maldives to book a place in the semi-finals of the CAVA Women's Nations Volleyball League on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal defeated the Maldives in straight sets of 25-8, 25-19 and 25-18 in the last group-stage match held at the National Sports Council’s Covered Hall in Tripureshwar on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the win, Nepal finished second in the points table and will now meet Iran in the semi-finals. Iran finished third in the points table. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India and Sri Lanka will compete in the first semi-final. India topped the league while Sri Lanka finished fourth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first semi-final between Sri Lanka and India will start at 3:00 pm today (Tuesday) at the same venue while Nepal will face Iran in the second semi-final starting at 5:15 pm. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21479', 'image' => '20240806120108_GUD4D2JW8AAraFD.jpg', 'article_date' => '2024-08-06 11:59:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21752', 'article_category_id' => '1', 'title' => 'Indian Government Approves around Rs 91 Billion for Lower Arun Hydroelectric Project', 'sub_title' => 'The 669 megawatts project is being developed by India’s state-owned Satluj Jal Vidyut Nigam (SJVN)', 'summary' => 'The Indian government has approved around Rs 91 billion in investment for the Lower Arun Hydroelectric Project, which is being developed by India’s state-owned SJVN Limited.', 'content' => '<p><span style="font-size:18px">NewBiz Report</span></p> <p><span style="font-size:18px">KATHMANDU, August 5</span></p> <p><span style="font-size:18px">The Indian government has approved around Rs 91 billion in investment for the Lower Arun Hydroelectric Project, which is being developed by India’s state-owned SJVN Limited.</span></p> <p><span style="font-size:18px">The Cabinet Committee on Economic Affairs, chaired by Indian Prime Minister Narendra Modi, approved the investment of INR 5,792.36 crore (around Rs 91 billion) for the 669 megawatts project, according to India media reports.</span></p> <p><span style="font-size:18px">“The Committee has also accorded Ex-post facto approval for Special Purpose Vehicle SJVN Lower Arun Power Development Company Private Limited (SLPDC), a wholly owned subsidiary of SJVN incorporated in Nepal for implementation of LAHEP [Lower Arun Hydro Electric Project],” reads one of the report. “In addition to this, the Committee has also approved the equity investment of Rs.1737.70 crores [ around Rs 27 billion] in SLPDC.”</span></p> <p><span style="font-size:18px">Lower Arun is one of the projects –along with 900 megawatts Arun III and 490 megawatts Arun IV–being developed by SJVN in Nepal. </span></p> <p><span style="font-size:18px">Nepal Electricity Authority and the SJVN have signed a joint venture agreement to develop the Arun IV project.</span></p> <p><span style="font-size:18px">To be built under build, own, operate and transfer (BOOT) model, Lower Arun is scheduled to be completed in five years and expected to generate 2,901 million units of electricity annually.</span></p> <p><span style="font-size:18px">The hydel project will not have any reservoir as it is going to be a tailrace development of the Arun III hydro project.</span></p> <p><span style="font-size:18px">Earlier in July, 2021, the Investment Board of Nepal (IBN) and SJVN had signed a memorandum of understanding in Kathmandu to develop the hydropower project in eastern Nepal.</span></p> <p><span style="font-size:18px">Last year in April, right before the then Prime Minister Pushpa Kamal Dahal’s visit to India, the IBN had approved an investment of Rs 92.68 billion proposed by SJVN to develop the project.</span></p> <p><span style="font-size:18px">Later in June the same year, SJVN signed the project Development Agreement (PDA) with IBN during the then Prime Minister Pushpa Kamal Dahal’s visit to India.</span></p> <p><span style="font-size:18px">Officials from SJVN have said in the past that they aim to invest in projects generating 5,000 megawatts of electricity in Nepal by 2030.</span></p> <p><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21478', 'image' => '20240806113241_20230601043926_hydro.jpg', 'article_date' => '2024-08-06 11:31:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21751', 'article_category_id' => '1', 'title' => 'Nepal, World Bank Sign Financing Agreement For $100 Million Loan To Project For Improving Roads', 'sub_title' => 'The project aims for building and maintenance of 3,000 km resilient roads in three provinces in the first phase.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 5</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The government and the World Bank on Monday signed a financing agreement for a $100 million concessional loan to be provided by the International Development Association (IDA) for the improvement of provincial and local roads, the global lender said in a press statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">IDA is a part of the World Bank that provides grants and low-interest loans to low income countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Finance Secretary Ram Prasad Ghimire, on behalf of the Government of Nepal, and David Sislen, World Bank Country Director for Nepal, Maldives and Sri Lanka, inked the agreement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The loan is aimed at improving the connectivity, efficiency, resilience, and safety of Nepal’s provincial and local road network and strengthen the government’s capacity to manage the road network.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The first of the three-phase programme will target three of Nepal’s seven provinces and four local areas which will be scaled up in future phases.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“The Provincial and Local Roads Improvement Program (PLRIP)-Phase 1 will build and maintain about 3,000 kilometers of all-weather, resilient, and safe provincial and local roads and bridges, benefiting about one million people in Sudurpaschim, Karnali, and Madhesh provinces,” reads the statement. “It will also strengthen the institutional, management and technical capacity of provincial and local governments to plan, design, construct, and maintain road and bridge infrastructure and improve service delivery.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A separate project agreement was also signed by the Ministry of Urban Development, the participating provinces, and the World Bank, the statement said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sislen said that the programme supports Nepal’s federalism agenda by empowering provincial and local governments and promoting inter-governmental coordination in the transport connectivity sector to help improve the lives of Nepalis through better infrastructure and services.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21477', 'image' => '20240806110230_20240215010906_World.jpg', 'article_date' => '2024-08-06 11:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21750', 'article_category_id' => '1', 'title' => '649 New Business Industries Registered in Kaski', 'sub_title' => '', 'summary' => 'The Tourism and Industry Office Kaski recorded the registration of 649 new business firms in the last fiscal year of 2080/2081. These included 13 cottage industries and 636 small industries.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 6: The Tourism and Industry Office Kaski recorded the registration of 649 new business firms in the last fiscal year of 2080/2081. These included 13 cottage industries and 636 small industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Maharaj Dhakal, Chief Industry Officer of the Cottage and Small Industries Office in Kaski, stated that these new registrations brought in a total investment of Rs 1.91 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The newly registered industries span various sectors: 241 in the service sector, 83 in production, 162 in agriculture and forestry, and three in information technology. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, no new industries were registered in the energy and mining sector. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new industries have also contributed to job creation, providing employment to 2,057 people. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21476', 'image' => '20240806060627_collage (90).jpg', 'article_date' => '2024-08-06 06:05:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21749', 'article_category_id' => '1', 'title' => 'Bangladesh's Iron Lady Sheikh Hasina Falls after 15 Years in Power', 'sub_title' => '', 'summary' => 'DHAKA, Aug 5: Sheikh Hasina once helped rescue Bangladesh from military rule but her long rule came to a sudden end on Monday as protesters stormed her palace in Dhaka.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">DHAKA, Aug 5: Sheikh Hasina once helped rescue Bangladesh from military rule but her long rule came to a sudden end on Monday as protesters stormed her palace in Dhaka.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Her 15 consecutive years in power were marked by an economic rebirth but also by the mass arrest of political opponents and human rights sanctions against her security forces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Protests began in July with rallies led by university students against civil service job quotas but soon escalated into deadly unrest and demands that she step down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Attacks on demonstrators by police and pro-government student groups last month also sparked international condemnation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The autocratic Hasina, 76, won a fifth term as prime minister in January but the opposition boycotted a vote it said was neither free nor fair.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Critics accused her government of a litany of rights abuses, including the murder of opposition activists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The daughter of a revolutionary who led Bangladesh to independence, Hasina presided over breakneck economic growth in a country once written off by US statesman Henry Kissinger as an irredeemable "basket case".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She promised last year to turn all of Bangladesh into a "prosperous and developed country" but around 18 million young Bangladeshis are out of work, according to government figures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Economic rise </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina was 27 and travelling abroad when renegade military officers murdered her father, prime minister Sheikh Mujibur Rahman, and her mother and three brothers in a 1975 coup.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She returned six years later to take the reins of her father's Awami League party, beginning a decade-long struggle that included lengthy stretches of house arrest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina joined forces with Khaleda Zia's Bangladesh Nationalist Party (BNP) to help oust military dictator Hussain Muhammad Ershad in 1990.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But they soon fell out and their ensuing rivalry dominated modern Bangladeshi politics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina first served as prime minister in 1996 but lost to Zia five years later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The pair were imprisoned on corruption charges in 2007 after a coup by a military-backed government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The charges were dropped and they contested an election the following year that Hasina won in a landslide. She had been in power ever since.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Zia, 78, is in poor health and confined to hospital after she was sentenced to 17 years in prison for graft in 2018, with top BNP leaders also behind bars.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Supporters have praised Hasina for leading Bangladesh through an economic boom, largely on the back of the mostly female factory workforce powering its garment export industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bangladesh, one of the world's poorest countries when it gained independence from Pakistan in 1971, has grown an average of more than six percent each year since 2009.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Poverty has plummeted and more than 95 percent of its 170 million people now have access to electricity, with per capita income overtaking India in 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina was also hailed for a decisive crackdown on Islamist militants in the Muslim-majority nation after five Bangladeshi extremists stormed a Dhaka cafe popular with Western expatriates and killed 22 people in 2016.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Silencing dissent </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, her government's intolerance of dissent gave rise to resentment at home and concern from Washington and elsewhere.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Five top Islamist leaders and a senior opposition figure were executed over the past decade after convictions for crimes against humanity committed during the brutal 1971 liberation war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trials triggered mass protests and deadly clashes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Her opponents branded them a farce and a politically motivated exercise to silence dissent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The United States imposed sanctions in 2021 on an elite branch of Bangladesh's security forces and seven of its top officers over charges of widespread human rights abuses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina insisted in the face of the mounting protests that she had worked for her nation and toured areas of Dhaka damaged during days of deadly unrest last month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Over 15 years, I've built this country," she told reporters. "What didn't I do for the people?" – AFP/RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21475', 'image' => '20240805060349_130510-01-02.jpg', 'article_date' => '2024-08-05 18:03:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21748', 'article_category_id' => '1', 'title' => 'Containers Stuck in Transit Points following Political Unrest in Bangladesh', 'sub_title' => 'PM Hasina has resigned and fled the country as protests over the quota system for government jobs escalate, international media report', 'summary' => 'Eleven Nepali containers loaded with molasses for exports to Bangladesh have been stuck along the eastern transit point in Kakarvitta of Jhapa district, following a political unrest in Bangladesh.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">BHADRAPUR, August 5</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Eleven Nepali containers loaded with molasses for exports to Bangladesh have been stuck along the eastern transit point in Kakarvitta of Jhapa district, following a political unrest in Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Protests that began in Bangladesh last month over a 'controversial' quota system for governmental jobs have escalated into nationwide unrest, causing the Prime Minister Sheikh Hasina to resign and flee the country, reported international media.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to Al Jazeera, the Qatar-based media network, the longtime leader of Bangladesh boarded a military helicopter after crowds ignored a national curfew to storm the prime minister’s palace in Dhaka.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The direct impact was seen on Nepal-Bangladesh trade Monday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The trade, which had come to a total halt in mid-July, had resumed a few days ago. But, the border has been closed again for the next three days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the Kakarvitta Branch Office of the Nepal Transit and Warehousing Management Company Limited, some containers have remained stuck in the Phulbari-Banglabandha transitional transit point of Nepal, India, and Bhutan. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, containers en route to Nepal from Bangladesh have remained stranded at the transit point.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Subash Pandey, chief at the office, said the supplies were disrupted with the unrest becoming intense. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">"We have no idea how long it will take to return to normalcy,” said Pandey.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal exported goods worth over Rs 13.5 million to Bangladesh while the value of imports exceeded Rs 206.5 million in the first 11 days of the current fiscal year, 2024/25, which began on July 16, the office data show.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the Mechi Customs Office, Kakarvitta, Nepal exports pulse, herbal products, molasses, foodstuff, animal feed, Khayar (Black Catechu), and coloring agents to Bangladesh, while importing jute, soybean husk, allopathic medicines, lead-acid batteries, garments, fruit juice, glass sheets, biscuits, and chocolates from the country. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Most of the Nepali students pursuing higher educational degrees at several universities in Bangladesh have returned home last month following the unrest. (With inputs from RSS)</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21474', 'image' => '20240805060150_AP24218390076912.jpg', 'article_date' => '2024-08-05 18:00:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21747', 'article_category_id' => '243', 'title' => 'Bangladesh PM Hasina Quits and Flees as Protestors Storm Palace', 'sub_title' => '', 'summary' => 'Bangladesh’s Prime Minister Sheikh Hasina has reportedly resigned and fled the country in the face of ongoing protests, Al Jazeera reported on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bangladesh’s Prime Minister Sheikh Hasina has reportedly resigned and fled the country in the face of ongoing protests, Al Jazeera reported on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Qatar-based media network, the longtime leader of Bangladesh boarded a military helicopter after crowds ignored a national curfew to storm the prime minister’s palace in Dhaka.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">BBC also confirmed that Prime Minister Hasina resigned and fled the country after anti-government protests in which hundreds of people have been killed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Close to 300 people have died amid weeks of protest that erupted due to the dispute related to student’s quota.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following a night of deadly violence that killed close to 100 on Sunday, tension had remained high as protestors called for a march on Dhaka and the army prepared to address the nation,” Al Jazeera reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, the mood on the streets turned celebratory after the news of Hasina’s departure spread.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief of Army Staff General Waker-Uz-Zaman has cancelled his planned address and instead is currently holding talks with major political parties, including the opposition Bangladesh Nationalist Party (BNP).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21473', 'image' => '20240805034837_image-84782-1664270336.jpg', 'article_date' => '2024-08-05 15:47:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21746', 'article_category_id' => '1', 'title' => 'NEPSE Closes Near 2800; Turnover Reaches Rs 21.86 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a significant gain of 40.76 points, or 1.47%, closing at 2796.38 on the first trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 5: The Nepal Stock Exchange (NEPSE) Index saw a significant gain of 40.76 points, or 1.47%, closing at 2796.38 on the first trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the trading session, a total of 326 scrips were traded through 238,078 transactions. The exchange witnessed 49,773,730 units of shares being traded, resulting in a total turnover of Rs 21.86 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Himalayan Re-insurance Company (HRL) led the market in terms of turnover, with a total transaction value of Rs 1.26 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Eight companies, including Ru Ru Jalbidhyut Pariyojana Limited (RURU), CEDB Hydropower Development Company (CHDC), and Sagarmatha Jalbidhyut Company Limited (SMJC), each saw gains of 10%, hitting the upper circuit limit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Nepal Finance Limited (NFS) experienced the largest loss, dropping 10% and hitting the lower circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The market's broader indicators showed mixed results. The Sensitive Index incurred a loss of 0.19%, while the Float Index and Sensitive Float Index fell by 0.93% and 1%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sector-wise, seven sectors, including Hotels and Tourism and the Investment Index, closed in positive territory. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the other hand, six sectors, such as the Finance Index and Microfinance Index, ended the day in the red. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Finance Index recorded the largest decline, falling by 4.61%, whereas the Hotels and Tourism sector saw the most significant gain, increasing by 6.69%.</span></span></p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21472', 'image' => '20240805034720_collage (89).jpg', 'article_date' => '2024-08-05 15:45:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21745', 'article_category_id' => '1', 'title' => 'National Level Development Banks Report 9.39% Surge in Net Profit ', 'sub_title' => 'The eight banks collectively earned approximately Rs 5.55 billion in net profit during the period, up from Rs 5.07 billion in FY 2022/23.', 'summary' => 'National level development banks in Nepal have reported a 9.39% increase in their net profit for the fiscal year 2023/24.', 'content' => '<p><span style="font-size:18px">NewBiz Report</span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">National level development banks in Nepal have reported a 9.39% increase in their net profit for the fiscal year 2023/24.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The eight banks collectively earned around Rs 5.55 billion in net profit in the review period, compared to Rs 5.07 billion in the previous fiscal year, 2022/23.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Among the eight development banks, five—Shangri-la Development Bank, Kamana Sewa Development Bank, Mahalaxmi Development Bank, Lumbini Development Bank, and Muktinath Development Bank—saw an increase in net profit, while three such banks including Shine Resunga Development Bank, Garima Development Bank, and Jyoti Development Bank reported a decline inprofits, according to the unaudited financial reports released on Monday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Muktinath Development Bank recorded the highest net profit of approximately Rs 1.27 billion, while Jyoti Development Bank reported the lowest at around Rs 246.5 million.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The Shangri-la Development Bank and Jyoti Development Bank reported the highest increase and decrease in net profit, respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The table below shows the net profit of the national level development banks for fiscal years 2023/24 and 2022/23.</span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit of the national level development banks</span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Banks</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">(in Rs million)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">(in Rs million)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Changes (%)</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Shangri-la</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">520.47</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">270.41</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">92.47</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Kamana Sewa</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">603.21</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">361.36</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">66.93</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Mahalaxmi</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">470.14</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">377.55</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">24.52</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Lumbini </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">603.78</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">497.67</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">21.32</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Muktinath </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,279.13</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,248.22</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">2.48</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Shine Resunga</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">697.44</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">758.02</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-7.99</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Garima</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,136.18</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,264.67</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-10.16</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Jyoti </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">246.5</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">301.81</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-18.33</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Total</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">5,556.87</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">5,079.75</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">9.39</span></strong></span></span></p> </td> </tr> </tbody> </table> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif""> Sources: Respective development banks</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21471', 'image' => '20240805025756_20240527022740_20210429043853_profit-02.jpg', 'article_date' => '2024-08-05 14:57:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21744', 'article_category_id' => '1', 'title' => 'Government Preparing to Raise Internal Debt of Rs 100 Billion in First Quarter', 'sub_title' => '', 'summary' => 'The government is poised to raise a significant amount of internal debt in the first quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">BIJAYA DAMASE<br /> KATHMANDU, August 5</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The government is poised to raise a significant amount of internal debt in the first quarter of the current fiscal year. According to the Public Debt Management Office (PDMO), the government plans to achieve this by adhering to a debt collection target announced in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">While details about the timing and amount of external loans remain unclear, PDMO has already established a schedule for internal borrowings. The government’s budget for the year outlines a plan to raise Rs 330 billion in domestic debt. Accordingly, PDMO aims to collect Rs 115 billion in the first quarter, which represents 40 percent of the total debt.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">In the first quarter of the previous fiscal year, the government raised approximately Rs 80 billion in internal debt. Within two weeks of the start of the current fiscal year (FY 2024/25), PDMO has already published notices for issuing treasury bills totaling Rs 31.61 billion. On July 29, a notice was published for issuing treasury bills of Rs 21.10 billion. Prior to that, on July 22, the office issued treasury bills of Rs 10.49 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Government officials explain that raising a substantial amount of debt early in the fiscal year is necessary due to the pressure for payment of interests of public debt. The reserves to meet these obligations are currently insufficient, and delaying internal borrowing could result in higher interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Dilaram Giri, information officer at PDMO, told New Business Age, “Due to the obligation to repay a large amount of debt, the loan has to be taken early. Interest rates may become more expensive later, increasing the cost of borrowing.” Currently, ample liquidity in banks and financial institutions has resulted in lower interest rates. These institutions primarily purchase government-issued treasury bills and development bonds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Of late, public debt in Nepal has been rising rapidly. Government figures show significant increases in expenses. PDMO data indicates that the country will need to pay over Rs 1714 billion in the next nine years, with more than Rs 559 billion due in the current year alone. In FY 2023/24, public debt increased by Rs 115 billion, rising from Rs 2299 billion in July of the previous year to Rs 2434 billion by mid-July 2024. This public debt now represents 42.65 percent of the GDP, reflecting a Rs 135 billion increase over the past year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">PDMO records show that internal debt owed by the government has reached Rs 1180 billion, while external debt stands at Rs 1253 billion. The government paid Rs 353.7 billion in public debt interest last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Experts caution that accumulating a large amount of debt early in the fiscal year could have adverse effects. Gopinath Mainali, former secretary of the Government of Nepal, argues that while raising and mobilizing internal debt can be beneficial, excessive accumulation could be detrimental. He noted, “If the raised debt is capitalized and injected into the market, it may not pose a problem. However, if liquidity is withdrawn from the market by reducing capital expenditure and relying heavily on internal loans, it could strain the liquidity of banks and financial institutions, making it difficult for the private sector to obtain loans.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21470', 'image' => '20240805025623_20240606095240_20240605101057_20230910023832_20220712082812_20210901020646_Richest-Nepalese-–-List-of-Top-Richest-People-scaled.jpg', 'article_date' => '2024-08-05 14:55:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21743', 'article_category_id' => '218', 'title' => ' Net Profit of Commercial Banks Jumps 13.4% in Last Fiscal Year', 'sub_title' => 'Nabil Bank posted the highest net profit of Rs 7.06 billion during the period, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Pawan Pandey</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The total net profit of Nepal’s commercial banks surged by 13.4% in the fiscal year 2023/24, ending July 15. The 20 commercial banks collectively earned around Rs 64.15 billion in net profit, compared to approximately Rs 56.57 billion in the previous fiscal year, 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Monday, the banks released their unaudited financial reports for the last quarter of the fiscal year, covering mid-April to mid-July 2024. The reports indicate that 10 of the 20 banks—Nabil Bank, Nepal Investment Mega Bank, Prabhu Bank, Prime Commercial Bank, Everest Bank, Agriculture Development Bank, Laxmi Sunrise Bank, Himalayan Bank, Kumari Bank, and Nepal SBI Bank —recorded an increase in net profit. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Conversely, Global IME Bank, Rastriya Banijya Bank, Standard Chartered Bank, Siddhartha Bank, Sanima Bank, NMB Bank, Nepal Bank Limited, NIC Asia Bank, Citizens Bank International, and Machhapuchchhre Bank saw decline in their net profits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank achieved the highest net profit of Rs 7.06 billion, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion. Notably, Prabhu Bank experienced the largest increase in net profit, while NIC Asia saw the most significant decline.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Table below shows the net profit of the commercial banks in fiscal years 2023/24 and 2022/23.</span></span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Banks</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Change (%)</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prabhu Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.48</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1499.04</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Kumari Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.51</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">345.67</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prime Commercial Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.77</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.02</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">267.19</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Agricultural Development Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.32</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">176.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Himalayan Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.83</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.56</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">81.6</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Investment Mega Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">5.19</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.72</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">39.71</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Laxmi Sunrise Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.03</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">32.79</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">7.06</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.4</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Everest Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.7</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.36</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.07</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal SBI Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.96</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.35</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Standard Chartered Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.46</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.51</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Siddhartha Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.16</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.78</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Rastriya Banijya Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.39</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.59</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-5.48</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sanima Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.6</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-8.59</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Global IME Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.69</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-10.13</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Machhapuchchhre Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.25</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.62</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-23.09</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NMB Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.33</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.22</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.49</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Citizens Bank International</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.34</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.86</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.97</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.43</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-51.8</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NIC Asia Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.44</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-68.91</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Total</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">64.15</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">56.57</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">13.4</span></span></strong></span></span></p> </td> </tr> </tbody> </table> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21469', 'image' => '20240805022717_20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-08-05 14:26:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21758', 'article_category_id' => '1', 'title' => 'Govt Collects Rs 358 Million in VAT from Foreign Firms Providing Digital Services in Nepal', 'sub_title' => 'A total of 18 foreign digital service providers were registered in Nepal by the end of the last FY, according to the Large Taxpayers Office', 'summary' => 'The government of Nepal collected around Rs 358 million in Value Added Tax (VAT) from foreign firms for services provided to Nepali consumers over the internet in the last fiscal year, 2023/24, according to the Large Taxpayers Office.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PAWAN PANDEY</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 6</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government of Nepal collected around Rs 358 million in Value Added Tax (VAT) from foreign firms for services provided to Nepali consumers over the internet in the last fiscal year, 2023/24, according to the Large Taxpayers Office.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the previous fiscal year, 2022/23, the government had collected around Rs 100 million in VAT and Rs 16 million in Digital Service Tax (DST). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Digital Service Tax Procedure, 2022 which came into effect from the fiscal year 2022/23, a non-resident person providing digital services to Nepali consumers is charged 2% DST if their annual transaction exceeds Rs 2 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Inland Revenue Department (IRD) had also issued a procedure for VAT applicable to digital service for non-resident persons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Income Tax Act, 2002, uses the 183-day rule as one of the criteria to determine non-residents for tax purposes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Janak Raj Sharma, chief tax administrator at the office, told New Business Age that 18 foreign firms providing such services have been registered in Nepal by the end of the last fiscal year, up from eight by the end of the previous fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among the firms registered in Nepal are Goggle Asia, NCS Pearson, Linkedin, Meta, Microsoft Original, Amazon Web, Amazon.com, Adobe, Netflix, Zoho Corporation, Google Digital, Prometric Japan, Association of Chartered Certified Accountants (ACCA), Pearson Education and Apple Distribution, according to Sharma.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The registered firms will have to present their financial declaration and pay the DST for the last fiscal year by the end of the first quarter of the current fiscal year, Sharma said, adding, “The DST is only levied for services provided to the consumers, not to the businesses.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the procedure, services such as advertisements, data storage, gaming, those related to mobile applications, supply and update of software, and downloads of data and images; movies, television, music, over the top and similar subscription based services; and online marketplace and goods and services to be provided through it, among others, fall under the ‘digital service’. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IRD had asked such foreign firms to be registered in Nepal from July 17, 2022, the beginning of the fiscal year 2022/23.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21483', 'image' => '20240806030120_2024041703362274520_1599400665.tax.jpg', 'article_date' => '2024-08-06 14:59:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21757', 'article_category_id' => '1', 'title' => 'Price of Gold Falls After Reaching a Record High in Nepal', 'sub_title' => 'The precious yellow metal became cheaper by Rs 2,300 per tola on Tuesday', 'summary' => 'KATHMANDU, August 6: Price of gold, which had surged to an all-time high in the domestic market on Monday, dropped by Rs 2,300 per tola (11.66 grams) on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 6: Price of gold, which had surged to an all-time high in the domestic market on Monday, dropped by Rs 2,300 per tola (11.66 grams) on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Following the fall in price, hallmark gold is being traded at Rs 147,700 per tola, according to the Federation of Gold and Silver Dealers' Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Monday, it was traded at Rs 150,000 per tola.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, worked gold, which was traded at Rs 149,500 on Monday, is being traded at Rs 147,000 per tola.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of silver has also gone down by Rs 60 per tola to be traded at Rs 1,725 per tola on Tuesday. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21482', 'image' => '20240806025201_cd5483b7.jpeg', 'article_date' => '2024-08-06 14:50:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21755', 'article_category_id' => '1', 'title' => 'Dividend Distribution Capacity of Commercial Banks Declines', 'sub_title' => '', 'summary' => 'The dividend distribution capacity of most commercial banks declined in the last fiscal year, FY 2023/24, with four banks unable to distribute dividends at all.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Laxmi Sharma </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 6</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The dividend distribution capacity of most commercial banks declined in the last fiscal year, FY 2023/24, with four banks unable to distribute dividends at all.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the unaudited financial statements published by commercial banks for the last fiscal year, while the number of banks unable to distribute dividends decreased in the fourth quarter compared to the third quarter, investors of most banks will still see limited returns.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Investment Mega Bank, Kumari Bank, NIC Asia Bank, and Himalayan Bank reported in their financial statements that they have no capacity to distribute dividends. In addition to these four banks, Laxmi Sunrise Bank, Nepal Bank, NMB Bank, Global IME Bank, Machhapuchhre Bank, and Siddhartha Bank had negative distributable profits in the third quarter of last year. However, six of these banks were able to distribute some dividends in the last quarter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Besides those unable to distribute dividends, 10 other commercial banks saw a decrease in their dividend distribution capacity compared to the previous year. These banks include NMB Bank, Siddhartha Bank, Global IME Bank, Rastriya Banijya Bank, Machhapuchhre Bank, Citizens Bank, Laxmi Sunrise Bank, Sanima Bank, Standard Chartered Bank, and Everest Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former banker Bhuwan Dahal attributed the decline in dividend distribution to high non-banking assets and failure to collect interest. He noted earlier in May that many commercial banks were unable to show profits because they could not collect interest due from the borrowers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"As per the instructions of Nepal Rastra Bank (NRB), the amount equal to the interest that has not been collected cannot be shown in the distributable profit as regulatory adjustment is required," Dahal explained. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB's regulatory adjustments include accrued interest, provisioning on non-banking assets, and potential losses on investments. Despite the overall decrease in dividend capacity, Everest Bank had the highest dividend capacity last year at 29.86 percent, down from 38.42 percent in FY 2022/23.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standard Chartered Bank was second with a dividend capacity of 26.5 percent, slightly lower than the previous year's 28.75 percent. The Agriculture Development Bank ranked third with a dividend capacity of 17.37 percent, an increase from the previous year's 9.24 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Among the 20 commercial banks, NMB Bank had the lowest dividend capacity, at just 1.3 percent, down from 6.21 percent in FY 2022/23. In the same year, eight other commercial banks did not distribute dividends to shareholders.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Investors are concerned that the decreasing dividend capacity and rates may reduce the attraction towards shares of commercial banks. NRB has allowed banks and financial institutions to include interest up to mid-August in their financial statements up to mid-July. This provision means there could be some changes in the profit and dividend capacities once the audited financial statements are released.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21481', 'image' => '20240806013648_Banks - Copy.jpg', 'article_date' => '2024-08-06 13:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21754', 'article_category_id' => '1', 'title' => '154 Killed due to Monsoon-Induced Disasters ', 'sub_title' => 'MPs draw government's attention to resolve problems caused by monsoon disaster ', 'summary' => 'KATHMANDU, August 6: A total of 154 people lost their lives in this year's monsoon-induced disasters so far. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU, August 6: A total of 154 people lost their lives in this year's monsoon-induced disasters so far. </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"">Landslide, floods and inundation claimed three lives in Kathmandu Valley, 25 in Koshi, six in Madhes, 20 in Bagmati, 43 in Gandaki, 29 in Lumbini, eight in Karnali and 10 in Sudurpaschim provinces, according to Nepal Police Headquarters. </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"">Forty-seven people went missing and 186 were injured in the disaster. A total of 384 houses were waterlogged due to flood whhile 261 houses, 95 huts, 43 bridges, two school buildings and two government offices suffered damages, said police. </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"">Similarly, 4,238 families were displaced due to disaster since June 10. </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, Members of Parliament drew the attention of the government to solve the problems caused by floods, landslides and inundation in different parts of the country. </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"">Speaking during the 'urgent Hour' of the Lower House meeting on Monday, they drew the attention of the government to effectively oversee natural disaster risk management, relief and rescue works. </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"">Lawmakers Surya Thapa, Maya Rai, Hemraj Rai and Prem Maharjan drew the government's attention to manage immediate reliefs to the victims of natural disaster. -- RSS </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21480', 'image' => '20240806123235_KDN-Dang-DSC_1164.jpg', 'article_date' => '2024-08-06 12:31:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21753', 'article_category_id' => '1', 'title' => 'Nepal into Semis of CAVA Women's National League Volleyball ', 'sub_title' => '', 'summary' => 'KATHMANDU, August 6: Nepal defeated the Maldives to book a place in the semi-finals of the CAVA Women's Nations Volleyball League on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU, August 6: Nepal defeated the Maldives to book a place in the semi-finals of the CAVA Women's Nations Volleyball League on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal defeated the Maldives in straight sets of 25-8, 25-19 and 25-18 in the last group-stage match held at the National Sports Council’s Covered Hall in Tripureshwar on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the win, Nepal finished second in the points table and will now meet Iran in the semi-finals. Iran finished third in the points table. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India and Sri Lanka will compete in the first semi-final. India topped the league while Sri Lanka finished fourth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first semi-final between Sri Lanka and India will start at 3:00 pm today (Tuesday) at the same venue while Nepal will face Iran in the second semi-final starting at 5:15 pm. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21479', 'image' => '20240806120108_GUD4D2JW8AAraFD.jpg', 'article_date' => '2024-08-06 11:59:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21752', 'article_category_id' => '1', 'title' => 'Indian Government Approves around Rs 91 Billion for Lower Arun Hydroelectric Project', 'sub_title' => 'The 669 megawatts project is being developed by India’s state-owned Satluj Jal Vidyut Nigam (SJVN)', 'summary' => 'The Indian government has approved around Rs 91 billion in investment for the Lower Arun Hydroelectric Project, which is being developed by India’s state-owned SJVN Limited.', 'content' => '<p><span style="font-size:18px">NewBiz Report</span></p> <p><span style="font-size:18px">KATHMANDU, August 5</span></p> <p><span style="font-size:18px">The Indian government has approved around Rs 91 billion in investment for the Lower Arun Hydroelectric Project, which is being developed by India’s state-owned SJVN Limited.</span></p> <p><span style="font-size:18px">The Cabinet Committee on Economic Affairs, chaired by Indian Prime Minister Narendra Modi, approved the investment of INR 5,792.36 crore (around Rs 91 billion) for the 669 megawatts project, according to India media reports.</span></p> <p><span style="font-size:18px">“The Committee has also accorded Ex-post facto approval for Special Purpose Vehicle SJVN Lower Arun Power Development Company Private Limited (SLPDC), a wholly owned subsidiary of SJVN incorporated in Nepal for implementation of LAHEP [Lower Arun Hydro Electric Project],” reads one of the report. “In addition to this, the Committee has also approved the equity investment of Rs.1737.70 crores [ around Rs 27 billion] in SLPDC.”</span></p> <p><span style="font-size:18px">Lower Arun is one of the projects –along with 900 megawatts Arun III and 490 megawatts Arun IV–being developed by SJVN in Nepal. </span></p> <p><span style="font-size:18px">Nepal Electricity Authority and the SJVN have signed a joint venture agreement to develop the Arun IV project.</span></p> <p><span style="font-size:18px">To be built under build, own, operate and transfer (BOOT) model, Lower Arun is scheduled to be completed in five years and expected to generate 2,901 million units of electricity annually.</span></p> <p><span style="font-size:18px">The hydel project will not have any reservoir as it is going to be a tailrace development of the Arun III hydro project.</span></p> <p><span style="font-size:18px">Earlier in July, 2021, the Investment Board of Nepal (IBN) and SJVN had signed a memorandum of understanding in Kathmandu to develop the hydropower project in eastern Nepal.</span></p> <p><span style="font-size:18px">Last year in April, right before the then Prime Minister Pushpa Kamal Dahal’s visit to India, the IBN had approved an investment of Rs 92.68 billion proposed by SJVN to develop the project.</span></p> <p><span style="font-size:18px">Later in June the same year, SJVN signed the project Development Agreement (PDA) with IBN during the then Prime Minister Pushpa Kamal Dahal’s visit to India.</span></p> <p><span style="font-size:18px">Officials from SJVN have said in the past that they aim to invest in projects generating 5,000 megawatts of electricity in Nepal by 2030.</span></p> <p><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21478', 'image' => '20240806113241_20230601043926_hydro.jpg', 'article_date' => '2024-08-06 11:31:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21751', 'article_category_id' => '1', 'title' => 'Nepal, World Bank Sign Financing Agreement For $100 Million Loan To Project For Improving Roads', 'sub_title' => 'The project aims for building and maintenance of 3,000 km resilient roads in three provinces in the first phase.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 5</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The government and the World Bank on Monday signed a financing agreement for a $100 million concessional loan to be provided by the International Development Association (IDA) for the improvement of provincial and local roads, the global lender said in a press statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">IDA is a part of the World Bank that provides grants and low-interest loans to low income countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Finance Secretary Ram Prasad Ghimire, on behalf of the Government of Nepal, and David Sislen, World Bank Country Director for Nepal, Maldives and Sri Lanka, inked the agreement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The loan is aimed at improving the connectivity, efficiency, resilience, and safety of Nepal’s provincial and local road network and strengthen the government’s capacity to manage the road network.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The first of the three-phase programme will target three of Nepal’s seven provinces and four local areas which will be scaled up in future phases.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“The Provincial and Local Roads Improvement Program (PLRIP)-Phase 1 will build and maintain about 3,000 kilometers of all-weather, resilient, and safe provincial and local roads and bridges, benefiting about one million people in Sudurpaschim, Karnali, and Madhesh provinces,” reads the statement. “It will also strengthen the institutional, management and technical capacity of provincial and local governments to plan, design, construct, and maintain road and bridge infrastructure and improve service delivery.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A separate project agreement was also signed by the Ministry of Urban Development, the participating provinces, and the World Bank, the statement said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sislen said that the programme supports Nepal’s federalism agenda by empowering provincial and local governments and promoting inter-governmental coordination in the transport connectivity sector to help improve the lives of Nepalis through better infrastructure and services.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21477', 'image' => '20240806110230_20240215010906_World.jpg', 'article_date' => '2024-08-06 11:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21750', 'article_category_id' => '1', 'title' => '649 New Business Industries Registered in Kaski', 'sub_title' => '', 'summary' => 'The Tourism and Industry Office Kaski recorded the registration of 649 new business firms in the last fiscal year of 2080/2081. These included 13 cottage industries and 636 small industries.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 6: The Tourism and Industry Office Kaski recorded the registration of 649 new business firms in the last fiscal year of 2080/2081. These included 13 cottage industries and 636 small industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Maharaj Dhakal, Chief Industry Officer of the Cottage and Small Industries Office in Kaski, stated that these new registrations brought in a total investment of Rs 1.91 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The newly registered industries span various sectors: 241 in the service sector, 83 in production, 162 in agriculture and forestry, and three in information technology. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, no new industries were registered in the energy and mining sector. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new industries have also contributed to job creation, providing employment to 2,057 people. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21476', 'image' => '20240806060627_collage (90).jpg', 'article_date' => '2024-08-06 06:05:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21749', 'article_category_id' => '1', 'title' => 'Bangladesh's Iron Lady Sheikh Hasina Falls after 15 Years in Power', 'sub_title' => '', 'summary' => 'DHAKA, Aug 5: Sheikh Hasina once helped rescue Bangladesh from military rule but her long rule came to a sudden end on Monday as protesters stormed her palace in Dhaka.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">DHAKA, Aug 5: Sheikh Hasina once helped rescue Bangladesh from military rule but her long rule came to a sudden end on Monday as protesters stormed her palace in Dhaka.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Her 15 consecutive years in power were marked by an economic rebirth but also by the mass arrest of political opponents and human rights sanctions against her security forces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Protests began in July with rallies led by university students against civil service job quotas but soon escalated into deadly unrest and demands that she step down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Attacks on demonstrators by police and pro-government student groups last month also sparked international condemnation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The autocratic Hasina, 76, won a fifth term as prime minister in January but the opposition boycotted a vote it said was neither free nor fair.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Critics accused her government of a litany of rights abuses, including the murder of opposition activists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The daughter of a revolutionary who led Bangladesh to independence, Hasina presided over breakneck economic growth in a country once written off by US statesman Henry Kissinger as an irredeemable "basket case".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She promised last year to turn all of Bangladesh into a "prosperous and developed country" but around 18 million young Bangladeshis are out of work, according to government figures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Economic rise </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina was 27 and travelling abroad when renegade military officers murdered her father, prime minister Sheikh Mujibur Rahman, and her mother and three brothers in a 1975 coup.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She returned six years later to take the reins of her father's Awami League party, beginning a decade-long struggle that included lengthy stretches of house arrest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina joined forces with Khaleda Zia's Bangladesh Nationalist Party (BNP) to help oust military dictator Hussain Muhammad Ershad in 1990.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But they soon fell out and their ensuing rivalry dominated modern Bangladeshi politics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina first served as prime minister in 1996 but lost to Zia five years later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The pair were imprisoned on corruption charges in 2007 after a coup by a military-backed government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The charges were dropped and they contested an election the following year that Hasina won in a landslide. She had been in power ever since.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Zia, 78, is in poor health and confined to hospital after she was sentenced to 17 years in prison for graft in 2018, with top BNP leaders also behind bars.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Supporters have praised Hasina for leading Bangladesh through an economic boom, largely on the back of the mostly female factory workforce powering its garment export industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bangladesh, one of the world's poorest countries when it gained independence from Pakistan in 1971, has grown an average of more than six percent each year since 2009.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Poverty has plummeted and more than 95 percent of its 170 million people now have access to electricity, with per capita income overtaking India in 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina was also hailed for a decisive crackdown on Islamist militants in the Muslim-majority nation after five Bangladeshi extremists stormed a Dhaka cafe popular with Western expatriates and killed 22 people in 2016.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Silencing dissent </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, her government's intolerance of dissent gave rise to resentment at home and concern from Washington and elsewhere.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Five top Islamist leaders and a senior opposition figure were executed over the past decade after convictions for crimes against humanity committed during the brutal 1971 liberation war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trials triggered mass protests and deadly clashes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Her opponents branded them a farce and a politically motivated exercise to silence dissent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The United States imposed sanctions in 2021 on an elite branch of Bangladesh's security forces and seven of its top officers over charges of widespread human rights abuses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina insisted in the face of the mounting protests that she had worked for her nation and toured areas of Dhaka damaged during days of deadly unrest last month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Over 15 years, I've built this country," she told reporters. "What didn't I do for the people?" – AFP/RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21475', 'image' => '20240805060349_130510-01-02.jpg', 'article_date' => '2024-08-05 18:03:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21748', 'article_category_id' => '1', 'title' => 'Containers Stuck in Transit Points following Political Unrest in Bangladesh', 'sub_title' => 'PM Hasina has resigned and fled the country as protests over the quota system for government jobs escalate, international media report', 'summary' => 'Eleven Nepali containers loaded with molasses for exports to Bangladesh have been stuck along the eastern transit point in Kakarvitta of Jhapa district, following a political unrest in Bangladesh.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">BHADRAPUR, August 5</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Eleven Nepali containers loaded with molasses for exports to Bangladesh have been stuck along the eastern transit point in Kakarvitta of Jhapa district, following a political unrest in Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Protests that began in Bangladesh last month over a 'controversial' quota system for governmental jobs have escalated into nationwide unrest, causing the Prime Minister Sheikh Hasina to resign and flee the country, reported international media.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to Al Jazeera, the Qatar-based media network, the longtime leader of Bangladesh boarded a military helicopter after crowds ignored a national curfew to storm the prime minister’s palace in Dhaka.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The direct impact was seen on Nepal-Bangladesh trade Monday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The trade, which had come to a total halt in mid-July, had resumed a few days ago. But, the border has been closed again for the next three days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the Kakarvitta Branch Office of the Nepal Transit and Warehousing Management Company Limited, some containers have remained stuck in the Phulbari-Banglabandha transitional transit point of Nepal, India, and Bhutan. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, containers en route to Nepal from Bangladesh have remained stranded at the transit point.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Subash Pandey, chief at the office, said the supplies were disrupted with the unrest becoming intense. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">"We have no idea how long it will take to return to normalcy,” said Pandey.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal exported goods worth over Rs 13.5 million to Bangladesh while the value of imports exceeded Rs 206.5 million in the first 11 days of the current fiscal year, 2024/25, which began on July 16, the office data show.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the Mechi Customs Office, Kakarvitta, Nepal exports pulse, herbal products, molasses, foodstuff, animal feed, Khayar (Black Catechu), and coloring agents to Bangladesh, while importing jute, soybean husk, allopathic medicines, lead-acid batteries, garments, fruit juice, glass sheets, biscuits, and chocolates from the country. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Most of the Nepali students pursuing higher educational degrees at several universities in Bangladesh have returned home last month following the unrest. (With inputs from RSS)</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21474', 'image' => '20240805060150_AP24218390076912.jpg', 'article_date' => '2024-08-05 18:00:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21747', 'article_category_id' => '243', 'title' => 'Bangladesh PM Hasina Quits and Flees as Protestors Storm Palace', 'sub_title' => '', 'summary' => 'Bangladesh’s Prime Minister Sheikh Hasina has reportedly resigned and fled the country in the face of ongoing protests, Al Jazeera reported on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bangladesh’s Prime Minister Sheikh Hasina has reportedly resigned and fled the country in the face of ongoing protests, Al Jazeera reported on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Qatar-based media network, the longtime leader of Bangladesh boarded a military helicopter after crowds ignored a national curfew to storm the prime minister’s palace in Dhaka.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">BBC also confirmed that Prime Minister Hasina resigned and fled the country after anti-government protests in which hundreds of people have been killed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Close to 300 people have died amid weeks of protest that erupted due to the dispute related to student’s quota.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following a night of deadly violence that killed close to 100 on Sunday, tension had remained high as protestors called for a march on Dhaka and the army prepared to address the nation,” Al Jazeera reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, the mood on the streets turned celebratory after the news of Hasina’s departure spread.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief of Army Staff General Waker-Uz-Zaman has cancelled his planned address and instead is currently holding talks with major political parties, including the opposition Bangladesh Nationalist Party (BNP).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21473', 'image' => '20240805034837_image-84782-1664270336.jpg', 'article_date' => '2024-08-05 15:47:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21746', 'article_category_id' => '1', 'title' => 'NEPSE Closes Near 2800; Turnover Reaches Rs 21.86 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a significant gain of 40.76 points, or 1.47%, closing at 2796.38 on the first trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 5: The Nepal Stock Exchange (NEPSE) Index saw a significant gain of 40.76 points, or 1.47%, closing at 2796.38 on the first trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the trading session, a total of 326 scrips were traded through 238,078 transactions. The exchange witnessed 49,773,730 units of shares being traded, resulting in a total turnover of Rs 21.86 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Himalayan Re-insurance Company (HRL) led the market in terms of turnover, with a total transaction value of Rs 1.26 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Eight companies, including Ru Ru Jalbidhyut Pariyojana Limited (RURU), CEDB Hydropower Development Company (CHDC), and Sagarmatha Jalbidhyut Company Limited (SMJC), each saw gains of 10%, hitting the upper circuit limit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Nepal Finance Limited (NFS) experienced the largest loss, dropping 10% and hitting the lower circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The market's broader indicators showed mixed results. The Sensitive Index incurred a loss of 0.19%, while the Float Index and Sensitive Float Index fell by 0.93% and 1%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sector-wise, seven sectors, including Hotels and Tourism and the Investment Index, closed in positive territory. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the other hand, six sectors, such as the Finance Index and Microfinance Index, ended the day in the red. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Finance Index recorded the largest decline, falling by 4.61%, whereas the Hotels and Tourism sector saw the most significant gain, increasing by 6.69%.</span></span></p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21472', 'image' => '20240805034720_collage (89).jpg', 'article_date' => '2024-08-05 15:45:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21745', 'article_category_id' => '1', 'title' => 'National Level Development Banks Report 9.39% Surge in Net Profit ', 'sub_title' => 'The eight banks collectively earned approximately Rs 5.55 billion in net profit during the period, up from Rs 5.07 billion in FY 2022/23.', 'summary' => 'National level development banks in Nepal have reported a 9.39% increase in their net profit for the fiscal year 2023/24.', 'content' => '<p><span style="font-size:18px">NewBiz Report</span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">National level development banks in Nepal have reported a 9.39% increase in their net profit for the fiscal year 2023/24.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The eight banks collectively earned around Rs 5.55 billion in net profit in the review period, compared to Rs 5.07 billion in the previous fiscal year, 2022/23.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Among the eight development banks, five—Shangri-la Development Bank, Kamana Sewa Development Bank, Mahalaxmi Development Bank, Lumbini Development Bank, and Muktinath Development Bank—saw an increase in net profit, while three such banks including Shine Resunga Development Bank, Garima Development Bank, and Jyoti Development Bank reported a decline inprofits, according to the unaudited financial reports released on Monday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Muktinath Development Bank recorded the highest net profit of approximately Rs 1.27 billion, while Jyoti Development Bank reported the lowest at around Rs 246.5 million.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The Shangri-la Development Bank and Jyoti Development Bank reported the highest increase and decrease in net profit, respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The table below shows the net profit of the national level development banks for fiscal years 2023/24 and 2022/23.</span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit of the national level development banks</span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Banks</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">(in Rs million)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">(in Rs million)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Changes (%)</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Shangri-la</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">520.47</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">270.41</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">92.47</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Kamana Sewa</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">603.21</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">361.36</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">66.93</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Mahalaxmi</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">470.14</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">377.55</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">24.52</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Lumbini </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">603.78</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">497.67</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">21.32</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Muktinath </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,279.13</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,248.22</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">2.48</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Shine Resunga</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">697.44</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">758.02</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-7.99</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Garima</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,136.18</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,264.67</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-10.16</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Jyoti </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">246.5</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">301.81</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-18.33</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Total</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">5,556.87</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">5,079.75</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">9.39</span></strong></span></span></p> </td> </tr> </tbody> </table> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif""> Sources: Respective development banks</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21471', 'image' => '20240805025756_20240527022740_20210429043853_profit-02.jpg', 'article_date' => '2024-08-05 14:57:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21744', 'article_category_id' => '1', 'title' => 'Government Preparing to Raise Internal Debt of Rs 100 Billion in First Quarter', 'sub_title' => '', 'summary' => 'The government is poised to raise a significant amount of internal debt in the first quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">BIJAYA DAMASE<br /> KATHMANDU, August 5</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The government is poised to raise a significant amount of internal debt in the first quarter of the current fiscal year. According to the Public Debt Management Office (PDMO), the government plans to achieve this by adhering to a debt collection target announced in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">While details about the timing and amount of external loans remain unclear, PDMO has already established a schedule for internal borrowings. The government’s budget for the year outlines a plan to raise Rs 330 billion in domestic debt. Accordingly, PDMO aims to collect Rs 115 billion in the first quarter, which represents 40 percent of the total debt.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">In the first quarter of the previous fiscal year, the government raised approximately Rs 80 billion in internal debt. Within two weeks of the start of the current fiscal year (FY 2024/25), PDMO has already published notices for issuing treasury bills totaling Rs 31.61 billion. On July 29, a notice was published for issuing treasury bills of Rs 21.10 billion. Prior to that, on July 22, the office issued treasury bills of Rs 10.49 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Government officials explain that raising a substantial amount of debt early in the fiscal year is necessary due to the pressure for payment of interests of public debt. The reserves to meet these obligations are currently insufficient, and delaying internal borrowing could result in higher interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Dilaram Giri, information officer at PDMO, told New Business Age, “Due to the obligation to repay a large amount of debt, the loan has to be taken early. Interest rates may become more expensive later, increasing the cost of borrowing.” Currently, ample liquidity in banks and financial institutions has resulted in lower interest rates. These institutions primarily purchase government-issued treasury bills and development bonds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Of late, public debt in Nepal has been rising rapidly. Government figures show significant increases in expenses. PDMO data indicates that the country will need to pay over Rs 1714 billion in the next nine years, with more than Rs 559 billion due in the current year alone. In FY 2023/24, public debt increased by Rs 115 billion, rising from Rs 2299 billion in July of the previous year to Rs 2434 billion by mid-July 2024. This public debt now represents 42.65 percent of the GDP, reflecting a Rs 135 billion increase over the past year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">PDMO records show that internal debt owed by the government has reached Rs 1180 billion, while external debt stands at Rs 1253 billion. The government paid Rs 353.7 billion in public debt interest last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Experts caution that accumulating a large amount of debt early in the fiscal year could have adverse effects. Gopinath Mainali, former secretary of the Government of Nepal, argues that while raising and mobilizing internal debt can be beneficial, excessive accumulation could be detrimental. He noted, “If the raised debt is capitalized and injected into the market, it may not pose a problem. However, if liquidity is withdrawn from the market by reducing capital expenditure and relying heavily on internal loans, it could strain the liquidity of banks and financial institutions, making it difficult for the private sector to obtain loans.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21470', 'image' => '20240805025623_20240606095240_20240605101057_20230910023832_20220712082812_20210901020646_Richest-Nepalese-–-List-of-Top-Richest-People-scaled.jpg', 'article_date' => '2024-08-05 14:55:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21743', 'article_category_id' => '218', 'title' => ' Net Profit of Commercial Banks Jumps 13.4% in Last Fiscal Year', 'sub_title' => 'Nabil Bank posted the highest net profit of Rs 7.06 billion during the period, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Pawan Pandey</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The total net profit of Nepal’s commercial banks surged by 13.4% in the fiscal year 2023/24, ending July 15. The 20 commercial banks collectively earned around Rs 64.15 billion in net profit, compared to approximately Rs 56.57 billion in the previous fiscal year, 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Monday, the banks released their unaudited financial reports for the last quarter of the fiscal year, covering mid-April to mid-July 2024. The reports indicate that 10 of the 20 banks—Nabil Bank, Nepal Investment Mega Bank, Prabhu Bank, Prime Commercial Bank, Everest Bank, Agriculture Development Bank, Laxmi Sunrise Bank, Himalayan Bank, Kumari Bank, and Nepal SBI Bank —recorded an increase in net profit. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Conversely, Global IME Bank, Rastriya Banijya Bank, Standard Chartered Bank, Siddhartha Bank, Sanima Bank, NMB Bank, Nepal Bank Limited, NIC Asia Bank, Citizens Bank International, and Machhapuchchhre Bank saw decline in their net profits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank achieved the highest net profit of Rs 7.06 billion, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion. Notably, Prabhu Bank experienced the largest increase in net profit, while NIC Asia saw the most significant decline.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Table below shows the net profit of the commercial banks in fiscal years 2023/24 and 2022/23.</span></span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Banks</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Change (%)</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prabhu Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.48</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1499.04</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Kumari Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.51</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">345.67</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prime Commercial Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.77</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.02</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">267.19</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Agricultural Development Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.32</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">176.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Himalayan Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.83</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.56</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">81.6</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Investment Mega Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">5.19</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.72</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">39.71</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Laxmi Sunrise Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.03</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">32.79</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">7.06</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.4</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Everest Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.7</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.36</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.07</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal SBI Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.96</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.35</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Standard Chartered Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.46</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.51</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Siddhartha Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.16</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.78</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Rastriya Banijya Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.39</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.59</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-5.48</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sanima Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.6</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-8.59</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Global IME Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.69</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-10.13</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Machhapuchchhre Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.25</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.62</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-23.09</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NMB Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.33</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.22</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.49</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Citizens Bank International</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.34</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.86</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.97</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.43</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-51.8</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NIC Asia Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.44</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-68.91</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Total</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">64.15</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">56.57</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">13.4</span></span></strong></span></span></p> </td> </tr> </tbody> </table> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21469', 'image' => '20240805022717_20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-08-05 14:26:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21758', 'article_category_id' => '1', 'title' => 'Govt Collects Rs 358 Million in VAT from Foreign Firms Providing Digital Services in Nepal', 'sub_title' => 'A total of 18 foreign digital service providers were registered in Nepal by the end of the last FY, according to the Large Taxpayers Office', 'summary' => 'The government of Nepal collected around Rs 358 million in Value Added Tax (VAT) from foreign firms for services provided to Nepali consumers over the internet in the last fiscal year, 2023/24, according to the Large Taxpayers Office.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PAWAN PANDEY</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 6</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government of Nepal collected around Rs 358 million in Value Added Tax (VAT) from foreign firms for services provided to Nepali consumers over the internet in the last fiscal year, 2023/24, according to the Large Taxpayers Office.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the previous fiscal year, 2022/23, the government had collected around Rs 100 million in VAT and Rs 16 million in Digital Service Tax (DST). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Digital Service Tax Procedure, 2022 which came into effect from the fiscal year 2022/23, a non-resident person providing digital services to Nepali consumers is charged 2% DST if their annual transaction exceeds Rs 2 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Inland Revenue Department (IRD) had also issued a procedure for VAT applicable to digital service for non-resident persons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Income Tax Act, 2002, uses the 183-day rule as one of the criteria to determine non-residents for tax purposes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Janak Raj Sharma, chief tax administrator at the office, told New Business Age that 18 foreign firms providing such services have been registered in Nepal by the end of the last fiscal year, up from eight by the end of the previous fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Among the firms registered in Nepal are Goggle Asia, NCS Pearson, Linkedin, Meta, Microsoft Original, Amazon Web, Amazon.com, Adobe, Netflix, Zoho Corporation, Google Digital, Prometric Japan, Association of Chartered Certified Accountants (ACCA), Pearson Education and Apple Distribution, according to Sharma.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The registered firms will have to present their financial declaration and pay the DST for the last fiscal year by the end of the first quarter of the current fiscal year, Sharma said, adding, “The DST is only levied for services provided to the consumers, not to the businesses.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the procedure, services such as advertisements, data storage, gaming, those related to mobile applications, supply and update of software, and downloads of data and images; movies, television, music, over the top and similar subscription based services; and online marketplace and goods and services to be provided through it, among others, fall under the ‘digital service’. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IRD had asked such foreign firms to be registered in Nepal from July 17, 2022, the beginning of the fiscal year 2022/23.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21483', 'image' => '20240806030120_2024041703362274520_1599400665.tax.jpg', 'article_date' => '2024-08-06 14:59:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21757', 'article_category_id' => '1', 'title' => 'Price of Gold Falls After Reaching a Record High in Nepal', 'sub_title' => 'The precious yellow metal became cheaper by Rs 2,300 per tola on Tuesday', 'summary' => 'KATHMANDU, August 6: Price of gold, which had surged to an all-time high in the domestic market on Monday, dropped by Rs 2,300 per tola (11.66 grams) on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU, August 6: Price of gold, which had surged to an all-time high in the domestic market on Monday, dropped by Rs 2,300 per tola (11.66 grams) on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Following the fall in price, hallmark gold is being traded at Rs 147,700 per tola, according to the Federation of Gold and Silver Dealers' Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Monday, it was traded at Rs 150,000 per tola.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, worked gold, which was traded at Rs 149,500 on Monday, is being traded at Rs 147,000 per tola.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of silver has also gone down by Rs 60 per tola to be traded at Rs 1,725 per tola on Tuesday. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21482', 'image' => '20240806025201_cd5483b7.jpeg', 'article_date' => '2024-08-06 14:50:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21755', 'article_category_id' => '1', 'title' => 'Dividend Distribution Capacity of Commercial Banks Declines', 'sub_title' => '', 'summary' => 'The dividend distribution capacity of most commercial banks declined in the last fiscal year, FY 2023/24, with four banks unable to distribute dividends at all.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Laxmi Sharma </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU, August 6</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The dividend distribution capacity of most commercial banks declined in the last fiscal year, FY 2023/24, with four banks unable to distribute dividends at all.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the unaudited financial statements published by commercial banks for the last fiscal year, while the number of banks unable to distribute dividends decreased in the fourth quarter compared to the third quarter, investors of most banks will still see limited returns.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal Investment Mega Bank, Kumari Bank, NIC Asia Bank, and Himalayan Bank reported in their financial statements that they have no capacity to distribute dividends. In addition to these four banks, Laxmi Sunrise Bank, Nepal Bank, NMB Bank, Global IME Bank, Machhapuchhre Bank, and Siddhartha Bank had negative distributable profits in the third quarter of last year. However, six of these banks were able to distribute some dividends in the last quarter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Besides those unable to distribute dividends, 10 other commercial banks saw a decrease in their dividend distribution capacity compared to the previous year. These banks include NMB Bank, Siddhartha Bank, Global IME Bank, Rastriya Banijya Bank, Machhapuchhre Bank, Citizens Bank, Laxmi Sunrise Bank, Sanima Bank, Standard Chartered Bank, and Everest Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Former banker Bhuwan Dahal attributed the decline in dividend distribution to high non-banking assets and failure to collect interest. He noted earlier in May that many commercial banks were unable to show profits because they could not collect interest due from the borrowers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"As per the instructions of Nepal Rastra Bank (NRB), the amount equal to the interest that has not been collected cannot be shown in the distributable profit as regulatory adjustment is required," Dahal explained. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB's regulatory adjustments include accrued interest, provisioning on non-banking assets, and potential losses on investments. Despite the overall decrease in dividend capacity, Everest Bank had the highest dividend capacity last year at 29.86 percent, down from 38.42 percent in FY 2022/23.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standard Chartered Bank was second with a dividend capacity of 26.5 percent, slightly lower than the previous year's 28.75 percent. The Agriculture Development Bank ranked third with a dividend capacity of 17.37 percent, an increase from the previous year's 9.24 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Among the 20 commercial banks, NMB Bank had the lowest dividend capacity, at just 1.3 percent, down from 6.21 percent in FY 2022/23. In the same year, eight other commercial banks did not distribute dividends to shareholders.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Investors are concerned that the decreasing dividend capacity and rates may reduce the attraction towards shares of commercial banks. NRB has allowed banks and financial institutions to include interest up to mid-August in their financial statements up to mid-July. This provision means there could be some changes in the profit and dividend capacities once the audited financial statements are released.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21481', 'image' => '20240806013648_Banks - Copy.jpg', 'article_date' => '2024-08-06 13:35:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21754', 'article_category_id' => '1', 'title' => '154 Killed due to Monsoon-Induced Disasters ', 'sub_title' => 'MPs draw government's attention to resolve problems caused by monsoon disaster ', 'summary' => 'KATHMANDU, August 6: A total of 154 people lost their lives in this year's monsoon-induced disasters so far. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU, August 6: A total of 154 people lost their lives in this year's monsoon-induced disasters so far. </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"">Landslide, floods and inundation claimed three lives in Kathmandu Valley, 25 in Koshi, six in Madhes, 20 in Bagmati, 43 in Gandaki, 29 in Lumbini, eight in Karnali and 10 in Sudurpaschim provinces, according to Nepal Police Headquarters. </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"">Forty-seven people went missing and 186 were injured in the disaster. A total of 384 houses were waterlogged due to flood whhile 261 houses, 95 huts, 43 bridges, two school buildings and two government offices suffered damages, said police. </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"">Similarly, 4,238 families were displaced due to disaster since June 10. </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, Members of Parliament drew the attention of the government to solve the problems caused by floods, landslides and inundation in different parts of the country. </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"">Speaking during the 'urgent Hour' of the Lower House meeting on Monday, they drew the attention of the government to effectively oversee natural disaster risk management, relief and rescue works. </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"">Lawmakers Surya Thapa, Maya Rai, Hemraj Rai and Prem Maharjan drew the government's attention to manage immediate reliefs to the victims of natural disaster. -- RSS </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21480', 'image' => '20240806123235_KDN-Dang-DSC_1164.jpg', 'article_date' => '2024-08-06 12:31:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21753', 'article_category_id' => '1', 'title' => 'Nepal into Semis of CAVA Women's National League Volleyball ', 'sub_title' => '', 'summary' => 'KATHMANDU, August 6: Nepal defeated the Maldives to book a place in the semi-finals of the CAVA Women's Nations Volleyball League on Monday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU, August 6: Nepal defeated the Maldives to book a place in the semi-finals of the CAVA Women's Nations Volleyball League on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal defeated the Maldives in straight sets of 25-8, 25-19 and 25-18 in the last group-stage match held at the National Sports Council’s Covered Hall in Tripureshwar on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Following the win, Nepal finished second in the points table and will now meet Iran in the semi-finals. Iran finished third in the points table. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">India and Sri Lanka will compete in the first semi-final. India topped the league while Sri Lanka finished fourth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first semi-final between Sri Lanka and India will start at 3:00 pm today (Tuesday) at the same venue while Nepal will face Iran in the second semi-final starting at 5:15 pm. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21479', 'image' => '20240806120108_GUD4D2JW8AAraFD.jpg', 'article_date' => '2024-08-06 11:59:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21752', 'article_category_id' => '1', 'title' => 'Indian Government Approves around Rs 91 Billion for Lower Arun Hydroelectric Project', 'sub_title' => 'The 669 megawatts project is being developed by India’s state-owned Satluj Jal Vidyut Nigam (SJVN)', 'summary' => 'The Indian government has approved around Rs 91 billion in investment for the Lower Arun Hydroelectric Project, which is being developed by India’s state-owned SJVN Limited.', 'content' => '<p><span style="font-size:18px">NewBiz Report</span></p> <p><span style="font-size:18px">KATHMANDU, August 5</span></p> <p><span style="font-size:18px">The Indian government has approved around Rs 91 billion in investment for the Lower Arun Hydroelectric Project, which is being developed by India’s state-owned SJVN Limited.</span></p> <p><span style="font-size:18px">The Cabinet Committee on Economic Affairs, chaired by Indian Prime Minister Narendra Modi, approved the investment of INR 5,792.36 crore (around Rs 91 billion) for the 669 megawatts project, according to India media reports.</span></p> <p><span style="font-size:18px">“The Committee has also accorded Ex-post facto approval for Special Purpose Vehicle SJVN Lower Arun Power Development Company Private Limited (SLPDC), a wholly owned subsidiary of SJVN incorporated in Nepal for implementation of LAHEP [Lower Arun Hydro Electric Project],” reads one of the report. “In addition to this, the Committee has also approved the equity investment of Rs.1737.70 crores [ around Rs 27 billion] in SLPDC.”</span></p> <p><span style="font-size:18px">Lower Arun is one of the projects –along with 900 megawatts Arun III and 490 megawatts Arun IV–being developed by SJVN in Nepal. </span></p> <p><span style="font-size:18px">Nepal Electricity Authority and the SJVN have signed a joint venture agreement to develop the Arun IV project.</span></p> <p><span style="font-size:18px">To be built under build, own, operate and transfer (BOOT) model, Lower Arun is scheduled to be completed in five years and expected to generate 2,901 million units of electricity annually.</span></p> <p><span style="font-size:18px">The hydel project will not have any reservoir as it is going to be a tailrace development of the Arun III hydro project.</span></p> <p><span style="font-size:18px">Earlier in July, 2021, the Investment Board of Nepal (IBN) and SJVN had signed a memorandum of understanding in Kathmandu to develop the hydropower project in eastern Nepal.</span></p> <p><span style="font-size:18px">Last year in April, right before the then Prime Minister Pushpa Kamal Dahal’s visit to India, the IBN had approved an investment of Rs 92.68 billion proposed by SJVN to develop the project.</span></p> <p><span style="font-size:18px">Later in June the same year, SJVN signed the project Development Agreement (PDA) with IBN during the then Prime Minister Pushpa Kamal Dahal’s visit to India.</span></p> <p><span style="font-size:18px">Officials from SJVN have said in the past that they aim to invest in projects generating 5,000 megawatts of electricity in Nepal by 2030.</span></p> <p><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21478', 'image' => '20240806113241_20230601043926_hydro.jpg', 'article_date' => '2024-08-06 11:31:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21751', 'article_category_id' => '1', 'title' => 'Nepal, World Bank Sign Financing Agreement For $100 Million Loan To Project For Improving Roads', 'sub_title' => 'The project aims for building and maintenance of 3,000 km resilient roads in three provinces in the first phase.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, August 5</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The government and the World Bank on Monday signed a financing agreement for a $100 million concessional loan to be provided by the International Development Association (IDA) for the improvement of provincial and local roads, the global lender said in a press statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">IDA is a part of the World Bank that provides grants and low-interest loans to low income countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Finance Secretary Ram Prasad Ghimire, on behalf of the Government of Nepal, and David Sislen, World Bank Country Director for Nepal, Maldives and Sri Lanka, inked the agreement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The loan is aimed at improving the connectivity, efficiency, resilience, and safety of Nepal’s provincial and local road network and strengthen the government’s capacity to manage the road network.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The first of the three-phase programme will target three of Nepal’s seven provinces and four local areas which will be scaled up in future phases.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">“The Provincial and Local Roads Improvement Program (PLRIP)-Phase 1 will build and maintain about 3,000 kilometers of all-weather, resilient, and safe provincial and local roads and bridges, benefiting about one million people in Sudurpaschim, Karnali, and Madhesh provinces,” reads the statement. “It will also strengthen the institutional, management and technical capacity of provincial and local governments to plan, design, construct, and maintain road and bridge infrastructure and improve service delivery.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">A separate project agreement was also signed by the Ministry of Urban Development, the participating provinces, and the World Bank, the statement said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sislen said that the programme supports Nepal’s federalism agenda by empowering provincial and local governments and promoting inter-governmental coordination in the transport connectivity sector to help improve the lives of Nepalis through better infrastructure and services.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21477', 'image' => '20240806110230_20240215010906_World.jpg', 'article_date' => '2024-08-06 11:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21750', 'article_category_id' => '1', 'title' => '649 New Business Industries Registered in Kaski', 'sub_title' => '', 'summary' => 'The Tourism and Industry Office Kaski recorded the registration of 649 new business firms in the last fiscal year of 2080/2081. These included 13 cottage industries and 636 small industries.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 6: The Tourism and Industry Office Kaski recorded the registration of 649 new business firms in the last fiscal year of 2080/2081. These included 13 cottage industries and 636 small industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Maharaj Dhakal, Chief Industry Officer of the Cottage and Small Industries Office in Kaski, stated that these new registrations brought in a total investment of Rs 1.91 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The newly registered industries span various sectors: 241 in the service sector, 83 in production, 162 in agriculture and forestry, and three in information technology. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, no new industries were registered in the energy and mining sector. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new industries have also contributed to job creation, providing employment to 2,057 people. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-08-06', 'modified' => '2024-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '21476', 'image' => '20240806060627_collage (90).jpg', 'article_date' => '2024-08-06 06:05:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21749', 'article_category_id' => '1', 'title' => 'Bangladesh's Iron Lady Sheikh Hasina Falls after 15 Years in Power', 'sub_title' => '', 'summary' => 'DHAKA, Aug 5: Sheikh Hasina once helped rescue Bangladesh from military rule but her long rule came to a sudden end on Monday as protesters stormed her palace in Dhaka.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">DHAKA, Aug 5: Sheikh Hasina once helped rescue Bangladesh from military rule but her long rule came to a sudden end on Monday as protesters stormed her palace in Dhaka.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Her 15 consecutive years in power were marked by an economic rebirth but also by the mass arrest of political opponents and human rights sanctions against her security forces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Protests began in July with rallies led by university students against civil service job quotas but soon escalated into deadly unrest and demands that she step down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Attacks on demonstrators by police and pro-government student groups last month also sparked international condemnation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The autocratic Hasina, 76, won a fifth term as prime minister in January but the opposition boycotted a vote it said was neither free nor fair.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Critics accused her government of a litany of rights abuses, including the murder of opposition activists.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The daughter of a revolutionary who led Bangladesh to independence, Hasina presided over breakneck economic growth in a country once written off by US statesman Henry Kissinger as an irredeemable "basket case".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She promised last year to turn all of Bangladesh into a "prosperous and developed country" but around 18 million young Bangladeshis are out of work, according to government figures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Economic rise </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina was 27 and travelling abroad when renegade military officers murdered her father, prime minister Sheikh Mujibur Rahman, and her mother and three brothers in a 1975 coup.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She returned six years later to take the reins of her father's Awami League party, beginning a decade-long struggle that included lengthy stretches of house arrest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina joined forces with Khaleda Zia's Bangladesh Nationalist Party (BNP) to help oust military dictator Hussain Muhammad Ershad in 1990.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But they soon fell out and their ensuing rivalry dominated modern Bangladeshi politics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina first served as prime minister in 1996 but lost to Zia five years later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The pair were imprisoned on corruption charges in 2007 after a coup by a military-backed government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The charges were dropped and they contested an election the following year that Hasina won in a landslide. She had been in power ever since.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Zia, 78, is in poor health and confined to hospital after she was sentenced to 17 years in prison for graft in 2018, with top BNP leaders also behind bars.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Supporters have praised Hasina for leading Bangladesh through an economic boom, largely on the back of the mostly female factory workforce powering its garment export industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bangladesh, one of the world's poorest countries when it gained independence from Pakistan in 1971, has grown an average of more than six percent each year since 2009.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Poverty has plummeted and more than 95 percent of its 170 million people now have access to electricity, with per capita income overtaking India in 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina was also hailed for a decisive crackdown on Islamist militants in the Muslim-majority nation after five Bangladeshi extremists stormed a Dhaka cafe popular with Western expatriates and killed 22 people in 2016.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Silencing dissent </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, her government's intolerance of dissent gave rise to resentment at home and concern from Washington and elsewhere.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Five top Islamist leaders and a senior opposition figure were executed over the past decade after convictions for crimes against humanity committed during the brutal 1971 liberation war.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The trials triggered mass protests and deadly clashes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Her opponents branded them a farce and a politically motivated exercise to silence dissent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The United States imposed sanctions in 2021 on an elite branch of Bangladesh's security forces and seven of its top officers over charges of widespread human rights abuses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hasina insisted in the face of the mounting protests that she had worked for her nation and toured areas of Dhaka damaged during days of deadly unrest last month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Over 15 years, I've built this country," she told reporters. "What didn't I do for the people?" – AFP/RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21475', 'image' => '20240805060349_130510-01-02.jpg', 'article_date' => '2024-08-05 18:03:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21748', 'article_category_id' => '1', 'title' => 'Containers Stuck in Transit Points following Political Unrest in Bangladesh', 'sub_title' => 'PM Hasina has resigned and fled the country as protests over the quota system for government jobs escalate, international media report', 'summary' => 'Eleven Nepali containers loaded with molasses for exports to Bangladesh have been stuck along the eastern transit point in Kakarvitta of Jhapa district, following a political unrest in Bangladesh.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">BHADRAPUR, August 5</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Eleven Nepali containers loaded with molasses for exports to Bangladesh have been stuck along the eastern transit point in Kakarvitta of Jhapa district, following a political unrest in Bangladesh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Protests that began in Bangladesh last month over a 'controversial' quota system for governmental jobs have escalated into nationwide unrest, causing the Prime Minister Sheikh Hasina to resign and flee the country, reported international media.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to Al Jazeera, the Qatar-based media network, the longtime leader of Bangladesh boarded a military helicopter after crowds ignored a national curfew to storm the prime minister’s palace in Dhaka.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The direct impact was seen on Nepal-Bangladesh trade Monday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The trade, which had come to a total halt in mid-July, had resumed a few days ago. But, the border has been closed again for the next three days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the Kakarvitta Branch Office of the Nepal Transit and Warehousing Management Company Limited, some containers have remained stuck in the Phulbari-Banglabandha transitional transit point of Nepal, India, and Bhutan. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Similarly, containers en route to Nepal from Bangladesh have remained stranded at the transit point.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Subash Pandey, chief at the office, said the supplies were disrupted with the unrest becoming intense. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">"We have no idea how long it will take to return to normalcy,” said Pandey.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal exported goods worth over Rs 13.5 million to Bangladesh while the value of imports exceeded Rs 206.5 million in the first 11 days of the current fiscal year, 2024/25, which began on July 16, the office data show.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">According to the Mechi Customs Office, Kakarvitta, Nepal exports pulse, herbal products, molasses, foodstuff, animal feed, Khayar (Black Catechu), and coloring agents to Bangladesh, while importing jute, soybean husk, allopathic medicines, lead-acid batteries, garments, fruit juice, glass sheets, biscuits, and chocolates from the country. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Most of the Nepali students pursuing higher educational degrees at several universities in Bangladesh have returned home last month following the unrest. (With inputs from RSS)</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21474', 'image' => '20240805060150_AP24218390076912.jpg', 'article_date' => '2024-08-05 18:00:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21747', 'article_category_id' => '243', 'title' => 'Bangladesh PM Hasina Quits and Flees as Protestors Storm Palace', 'sub_title' => '', 'summary' => 'Bangladesh’s Prime Minister Sheikh Hasina has reportedly resigned and fled the country in the face of ongoing protests, Al Jazeera reported on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bangladesh’s Prime Minister Sheikh Hasina has reportedly resigned and fled the country in the face of ongoing protests, Al Jazeera reported on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Qatar-based media network, the longtime leader of Bangladesh boarded a military helicopter after crowds ignored a national curfew to storm the prime minister’s palace in Dhaka.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">BBC also confirmed that Prime Minister Hasina resigned and fled the country after anti-government protests in which hundreds of people have been killed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Close to 300 people have died amid weeks of protest that erupted due to the dispute related to student’s quota.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following a night of deadly violence that killed close to 100 on Sunday, tension had remained high as protestors called for a march on Dhaka and the army prepared to address the nation,” Al Jazeera reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, the mood on the streets turned celebratory after the news of Hasina’s departure spread.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief of Army Staff General Waker-Uz-Zaman has cancelled his planned address and instead is currently holding talks with major political parties, including the opposition Bangladesh Nationalist Party (BNP).</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21473', 'image' => '20240805034837_image-84782-1664270336.jpg', 'article_date' => '2024-08-05 15:47:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21746', 'article_category_id' => '1', 'title' => 'NEPSE Closes Near 2800; Turnover Reaches Rs 21.86 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a significant gain of 40.76 points, or 1.47%, closing at 2796.38 on the first trading day of the week on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 5: The Nepal Stock Exchange (NEPSE) Index saw a significant gain of 40.76 points, or 1.47%, closing at 2796.38 on the first trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the trading session, a total of 326 scrips were traded through 238,078 transactions. The exchange witnessed 49,773,730 units of shares being traded, resulting in a total turnover of Rs 21.86 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Himalayan Re-insurance Company (HRL) led the market in terms of turnover, with a total transaction value of Rs 1.26 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Eight companies, including Ru Ru Jalbidhyut Pariyojana Limited (RURU), CEDB Hydropower Development Company (CHDC), and Sagarmatha Jalbidhyut Company Limited (SMJC), each saw gains of 10%, hitting the upper circuit limit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Nepal Finance Limited (NFS) experienced the largest loss, dropping 10% and hitting the lower circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The market's broader indicators showed mixed results. The Sensitive Index incurred a loss of 0.19%, while the Float Index and Sensitive Float Index fell by 0.93% and 1%, respectively.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sector-wise, seven sectors, including Hotels and Tourism and the Investment Index, closed in positive territory. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">On the other hand, six sectors, such as the Finance Index and Microfinance Index, ended the day in the red. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Finance Index recorded the largest decline, falling by 4.61%, whereas the Hotels and Tourism sector saw the most significant gain, increasing by 6.69%.</span></span></p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21472', 'image' => '20240805034720_collage (89).jpg', 'article_date' => '2024-08-05 15:45:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21745', 'article_category_id' => '1', 'title' => 'National Level Development Banks Report 9.39% Surge in Net Profit ', 'sub_title' => 'The eight banks collectively earned approximately Rs 5.55 billion in net profit during the period, up from Rs 5.07 billion in FY 2022/23.', 'summary' => 'National level development banks in Nepal have reported a 9.39% increase in their net profit for the fiscal year 2023/24.', 'content' => '<p><span style="font-size:18px">NewBiz Report</span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">National level development banks in Nepal have reported a 9.39% increase in their net profit for the fiscal year 2023/24.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The eight banks collectively earned around Rs 5.55 billion in net profit in the review period, compared to Rs 5.07 billion in the previous fiscal year, 2022/23.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Among the eight development banks, five—Shangri-la Development Bank, Kamana Sewa Development Bank, Mahalaxmi Development Bank, Lumbini Development Bank, and Muktinath Development Bank—saw an increase in net profit, while three such banks including Shine Resunga Development Bank, Garima Development Bank, and Jyoti Development Bank reported a decline inprofits, according to the unaudited financial reports released on Monday.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Muktinath Development Bank recorded the highest net profit of approximately Rs 1.27 billion, while Jyoti Development Bank reported the lowest at around Rs 246.5 million.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The Shangri-la Development Bank and Jyoti Development Bank reported the highest increase and decrease in net profit, respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">The table below shows the net profit of the national level development banks for fiscal years 2023/24 and 2022/23.</span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit of the national level development banks</span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Banks</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">(in Rs million)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">(in Rs million)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; height:77px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Changes (%)</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Shangri-la</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">520.47</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">270.41</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">92.47</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Kamana Sewa</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">603.21</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">361.36</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">66.93</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Mahalaxmi</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">470.14</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">377.55</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">24.52</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Lumbini </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">603.78</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">497.67</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">21.32</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Muktinath </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,279.13</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,248.22</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">2.48</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Shine Resunga</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">697.44</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">758.02</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-7.99</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Garima</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,136.18</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">1,264.67</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-10.16</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">Jyoti </span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">246.5</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">301.81</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif"">-18.33</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">Total</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">5,556.87</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">5,079.75</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Georgia","serif"">9.39</span></strong></span></span></p> </td> </tr> </tbody> </table> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Georgia","serif""> Sources: Respective development banks</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21471', 'image' => '20240805025756_20240527022740_20210429043853_profit-02.jpg', 'article_date' => '2024-08-05 14:57:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21744', 'article_category_id' => '1', 'title' => 'Government Preparing to Raise Internal Debt of Rs 100 Billion in First Quarter', 'sub_title' => '', 'summary' => 'The government is poised to raise a significant amount of internal debt in the first quarter of the current fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">BIJAYA DAMASE<br /> KATHMANDU, August 5</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">The government is poised to raise a significant amount of internal debt in the first quarter of the current fiscal year. According to the Public Debt Management Office (PDMO), the government plans to achieve this by adhering to a debt collection target announced in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">While details about the timing and amount of external loans remain unclear, PDMO has already established a schedule for internal borrowings. The government’s budget for the year outlines a plan to raise Rs 330 billion in domestic debt. Accordingly, PDMO aims to collect Rs 115 billion in the first quarter, which represents 40 percent of the total debt.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">In the first quarter of the previous fiscal year, the government raised approximately Rs 80 billion in internal debt. Within two weeks of the start of the current fiscal year (FY 2024/25), PDMO has already published notices for issuing treasury bills totaling Rs 31.61 billion. On July 29, a notice was published for issuing treasury bills of Rs 21.10 billion. Prior to that, on July 22, the office issued treasury bills of Rs 10.49 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Government officials explain that raising a substantial amount of debt early in the fiscal year is necessary due to the pressure for payment of interests of public debt. The reserves to meet these obligations are currently insufficient, and delaying internal borrowing could result in higher interest rates.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Dilaram Giri, information officer at PDMO, told New Business Age, “Due to the obligation to repay a large amount of debt, the loan has to be taken early. Interest rates may become more expensive later, increasing the cost of borrowing.” Currently, ample liquidity in banks and financial institutions has resulted in lower interest rates. These institutions primarily purchase government-issued treasury bills and development bonds.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Of late, public debt in Nepal has been rising rapidly. Government figures show significant increases in expenses. PDMO data indicates that the country will need to pay over Rs 1714 billion in the next nine years, with more than Rs 559 billion due in the current year alone. In FY 2023/24, public debt increased by Rs 115 billion, rising from Rs 2299 billion in July of the previous year to Rs 2434 billion by mid-July 2024. This public debt now represents 42.65 percent of the GDP, reflecting a Rs 135 billion increase over the past year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">PDMO records show that internal debt owed by the government has reached Rs 1180 billion, while external debt stands at Rs 1253 billion. The government paid Rs 353.7 billion in public debt interest last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Experts caution that accumulating a large amount of debt early in the fiscal year could have adverse effects. Gopinath Mainali, former secretary of the Government of Nepal, argues that while raising and mobilizing internal debt can be beneficial, excessive accumulation could be detrimental. He noted, “If the raised debt is capitalized and injected into the market, it may not pose a problem. However, if liquidity is withdrawn from the market by reducing capital expenditure and relying heavily on internal loans, it could strain the liquidity of banks and financial institutions, making it difficult for the private sector to obtain loans.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21470', 'image' => '20240805025623_20240606095240_20240605101057_20230910023832_20220712082812_20210901020646_Richest-Nepalese-–-List-of-Top-Richest-People-scaled.jpg', 'article_date' => '2024-08-05 14:55:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21743', 'article_category_id' => '218', 'title' => ' Net Profit of Commercial Banks Jumps 13.4% in Last Fiscal Year', 'sub_title' => 'Nabil Bank posted the highest net profit of Rs 7.06 billion during the period, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion.', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Pawan Pandey</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU, August 5</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The total net profit of Nepal’s commercial banks surged by 13.4% in the fiscal year 2023/24, ending July 15. The 20 commercial banks collectively earned around Rs 64.15 billion in net profit, compared to approximately Rs 56.57 billion in the previous fiscal year, 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Monday, the banks released their unaudited financial reports for the last quarter of the fiscal year, covering mid-April to mid-July 2024. The reports indicate that 10 of the 20 banks—Nabil Bank, Nepal Investment Mega Bank, Prabhu Bank, Prime Commercial Bank, Everest Bank, Agriculture Development Bank, Laxmi Sunrise Bank, Himalayan Bank, Kumari Bank, and Nepal SBI Bank —recorded an increase in net profit. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Conversely, Global IME Bank, Rastriya Banijya Bank, Standard Chartered Bank, Siddhartha Bank, Sanima Bank, NMB Bank, Nepal Bank Limited, NIC Asia Bank, Citizens Bank International, and Machhapuchchhre Bank saw decline in their net profits.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank achieved the highest net profit of Rs 7.06 billion, while Machhapuchchhre Bank recorded the lowest at Rs 1.25 billion. Notably, Prabhu Bank experienced the largest increase in net profit, while NIC Asia saw the most significant decline.</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Table below shows the net profit of the commercial banks in fiscal years 2023/24 and 2022/23.</span></span></strong></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Banks</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2023/24 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Net profit in FY 2022/23 (in Rs billion)</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Change (%)</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prabhu Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.48</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1499.04</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Kumari Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">0.51</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">345.67</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Prime Commercial Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.77</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.02</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">267.19</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Agricultural Development Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.32</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">176.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Himalayan Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.83</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.56</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">81.6</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Investment Mega Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">5.19</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.72</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">39.71</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Laxmi Sunrise Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.03</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.28</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">32.79</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nabil Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">7.06</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.4</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.23</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Everest Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.7</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.36</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">10.07</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal SBI Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.96</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.35</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Standard Chartered Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.3</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.46</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.51</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Siddhartha Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.16</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-4.78</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Rastriya Banijya Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.39</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.59</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-5.48</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Sanima Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.6</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-8.59</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Global IME Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.01</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">6.69</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-10.13</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Machhapuchchhre Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.25</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.62</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-23.09</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NMB Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">2.33</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.22</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.49</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Citizens Bank International</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.34</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.86</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-27.97</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Nepal Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.65</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">3.43</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-51.8</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NIC Asia Bank</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">1.38</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">4.44</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">-68.91</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Total</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">64.15</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">56.57</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">13.4</span></span></strong></span></span></p> </td> </tr> </tbody> </table> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2024-08-05', 'modified' => '2024-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '21469', 'image' => '20240805022717_20240717011652_20240624011617_bankkkkkkk.jpg', 'article_date' => '2024-08-05 14:26:10', '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
