May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector.…
May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector.…
May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel…
May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on…
May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene.…
May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year.…
International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working…
April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in…
The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week, on Tuesday.…
April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu.…
April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years.…
April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European…
April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel…
April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the…
April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the…
Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was…
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. This expansion includes a significant investment in a resort operating under the esteemed 'Fortune' brand, managed by Fortune Park Hotel Limited, a distinguished member of the renowned ITC Hotel Group in India.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Group’s Chairman Kamal Jain informed New Business Age that the group inaugurated the Fortune Resort and Wellness Spa in Sanga, Bhaktapur on Tuesday. He said that the resort was brought into operation with an investment of more than Rs 1 billion. The resort has 67 rooms and can be extended to 150 rooms. He said that the additional rooms will be prepared soon. He added that he has worked in the tourism sector of Nepal and now he is entering the hospitality sector by bringing the resort into operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Jain, who founded the Hilltech company in 1992, built a huge statue of Lord Shiva in Sanga in 2011. He said the resort is being operated in the same locality.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort built on 25 ropanis in Sanga will also be managed by Fortune Hotel of India. Industry, Commerce and Supply Minister Damodar Bhandari inaugurated the resort on Tuesday. Jain claims that the resort's spa is the best in Nepal. In the inaugural program, the Managing Director of Fortune Hotel Sameer MC said that they are excited to start the first branch in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said that Nepal is the first choice of tourists who are looking for exciting experiences such as cultural heritage and natural beauty. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We will bring the facilities of Fortune Hotels to Nepal," he said. In the program, Jain said that the concept of a peaceful resort will further strengthen the spa experience of tourists coming to Nepal. The resort has ample rooms, cottages and suites decorated with modern decor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort has facilities like a spa, relaxing treatment room, therapy room, sauna, steam room, gym, and swimming pool with a pleasing view. Jain said that the resort, which has three large banquets, will also be developed as a wedding destination. The resort also has a separate area for parties and meetings.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20592', 'image' => '20240501015328_hhh.jpg', 'article_date' => '2024-05-01 13:51:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20863', 'article_category_id' => '1', 'title' => 'G7 Agrees to Phase Out Coal-Fired Power Plants by Mid-2030s ', 'sub_title' => '', 'summary' => 'May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven two-day meeting in Turin is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 commits to "phase out existing unabated coal power generation in our energy systems during the first half of 2030s," the final statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However it left some wiggle room, saying nations could follow "a timeline consistent with keeping a limit of 1.5°C temperature rise within reach, in line with countries' net zero pathways". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Negotiations over a fixed date were reportedly tricky, with Japan -- which relies heavily on coal -- reluctant to commit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2015 Paris Agreement saw countries agree to cap global warming at "well below" 2C above preindustrial times -- with a safer limit of 1.5C if possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To keep the 1.5C limit in play, the UN's climate expert panel has said emissions need to be slashed almost in half this decade, but they continue to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France's Ecological Transition Minister Christophe Bechu said the commitment "shows the determination to implement the transition away from fossil fuels decided at COP28". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi from the Italian climate think tank ECCO said the G7 had taken a "decisive step forward" in translating the Dubai agreement into national policies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the Climate Analytics policy institute said "2035 is too late". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Many of these countries have already publicly committed to phase out dates ahead of 2030, and only have a small amount of coal capacity anyway," Jane Ellis, head of climate policy, said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 ministers also tackled the thorny issue of plastic pollution amid a heated debate over how to design a treaty addressing the scourge -- by reducing production or boosting recycling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministers said they "aspired" to reduce and if necessary restrain the global production of plastic". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plastic waste is now found everywhere from the summits of mountains to the ocean floor and in human blood and breast milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 "aspiration" comes as a fourth and penultimate round of UN-led negotiations to solve global plastic pollution wrapped up in Ottawa with a world-first pact said to be within reach by year's end -- but without a cap on the production of polymers. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20590', 'image' => '20240501124703_202404149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-05-01 12:46:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20861', 'article_category_id' => '1', 'title' => ''Issues Raised in Investment Summit to be Immediately Taken into Action' ', 'sub_title' => '', 'summary' => 'May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu 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"">May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to execute the issues raised in the two-day summit that was held on Sunday and Monday under the aegis of the Investment Board and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investment Board's Chief Executive Officer and Member-Secretary of Nepal Investment Summit 2024 Direction Committee, Sushil Bhatta, made a commitment for moving ahead with routine follow-up mechanism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will seek a sealed proposal for 12 projects for which deals were signed during the summit. We have already published a notice on Sunday giving a deadline of 45 days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta claimed that Nepal has succeeded in conveying the message that it has created a conducive and competitive environment for the promotion of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the projects showcased in the third investment summit received immense interest from businessmen, entrepreneurs and investors from all over the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta said Nepal has been able to present itself as an attractive investment destination by showcasing potential projects in the areas of energy, information technology, tourism and infrastructure. Similarly, domestic investors have also said that an investment-friendly environment is being created in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal said the conference was successful. "Some of the commitments made in the previous investment conclaves could not be implemented due to lack of follow-up," he said, adding, "The summit has given investors hope that there is an investment opportunity in Nepal and can give good profits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal said that the ordinance issued after the start of the Third Investment Summit was an attempt to encourage the private sector. "We had suggested to the government to amend particular laws to enable environment for investment," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investors and development partners coming from India, China, the US and other countries said there is a possibility of investment in Nepal. This has also sent a very positive message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the investors were keen to invest in Nepal's hydropower, tourism, agriculture and information technology sectors. He also said that the commitment made by all political parties in the investment summit has given an important message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, it is now necessary for the government to follow-up on the investors who have made investment commitments and to draft regulations and procedures. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20588', 'image' => '20240501111139_investment summit.jpg', 'article_date' => '2024-05-01 11:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20860', 'article_category_id' => '1', 'title' => 'NOC Slashes Price of Diesel and Kerosene', 'sub_title' => '', 'summary' => 'May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. The prices of diesel and kerosene have been each decreased by Rs 2 per liter with effect from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the price adjustment, the NOC has fixed the price of diesel/kerosene at Rs 156.50 paisa per liter for the areas that fall under the first category, Rs 158 per liter for the second and Rs 159 per liter for the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category includes Charali, Biratnagar, Janakpur, Amlekhganj, Bhalbari, Nepalgunj, Dhangadhi and Birgunj while the second category includes Surkhet and Dang while Kathmandu, Pokhara and Dipayal fall under the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category areas lie near the border areas and therefore the cost of fuel is less while the third category areas are away from the border and incurs additional transportation charges.</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"">NOC is solely dependent on Indian Oil Corporation for the supply of petroleum products and fixes the prices of petroleum products based on the list provided by the IOC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NOC has increased aviation turbine fuel (ATF) for domestic flights by Re 1 per liter and for international flights by US$ 7 per kilolitre. As a result, the price of aviation fuel for domestic flights has reached Rs 137 per liter and the price of aviation fuel for international flights has climbed to US$ 1.042 per liter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The price of petrol and LPG (or cooking gas) remains unchanged, said NOC spokesperson Manoj Thakur. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20587', 'image' => '20240501103419_20240316105907_petroo - Copy.jpg', 'article_date' => '2024-05-01 10:33:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20859', 'article_category_id' => '1', 'title' => 'NSO Projects Economic Growth Rate of 3.54 Percent in Current FY ', 'sub_title' => '', 'summary' => 'May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. ', 'content' => '<p><span style="font-size:18px">May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. The figure is a sharp decline from the government’s target of achieving 6 percent economic growth as per the announcement made in the budget of the current fiscal year.</span></p> <p><span style="font-size:18px">The NSO made the projection on Tuesday while unveiling the Annual National Accounts Statistics for the fiscal year 2080/81. <br /> However, the NSO said that economic activities in the country are expected to accelerate compared to the first and second quarters of the current FY. <br /> Issuing a press statement, the NSO said that the size of the country’s economy will grow to Rs 5705 billion in the current fiscal year. The size of the country's economy was Rs 5348 billion in the last fiscal year, the NSO stated. <br /> According to the NSO, the growth rate of agriculture, forestry and fishery sector will be 3.05 percent while the growth rate of the non-agriculture sector will be 3.75 percent. <br /> Likewise, the primary sector will witness a growth rate of 3 percent while the growth of the secondary sector will be limited to 1.2 percent and the tertiary sector will have a better growth rate of 4.5 percent in the current fiscal year. <br /> The NSO has projected that the nominal per capita in GNI will be US dollars 1,456 and the per capita in GNDI will be US dollars 1,843. -- RSS </span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20586', 'image' => '20240501101641_20240430085457_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-01 10:14:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20858', 'article_category_id' => '1', 'title' => 'May Day Being Observed', 'sub_title' => '', 'summary' => 'International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. ', 'content' => '<p><span style="font-size:20px">May 1: International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. </span></p> <p><span style="font-size:20px">Labour Day has its roots in the late nineteenth-century labour movement, when workers battled for improved working conditions, advocating an eight-hour workday and fair salaries.</span></p> <p><span style="font-size:20px">Many businesses and government offices are closed as the government has declared it a public holiday to observe the May Day. </span></p> <p><span style="font-size:20px">Trade unions and workers' associations organize various programs and events to commemorate the day and highlight the importance of workers' rights and achievements. </span><br /> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20585', 'image' => '20240501090458_collage (68).jpg', 'article_date' => '2024-05-01 09:03:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20856', 'article_category_id' => '1', 'title' => 'IME Group, PT PLN Nusantara Power Join Hands to Explore Power Development Opportunities in Nepal', 'sub_title' => '', 'summary' => 'April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The Memorandum of Understanding (MoU) was inked by Chandra Prasad Dhakal, Chairman of IME Group, and Muhamad Reza, Director of PT. PLN Nusantara Power representing their respective organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under this collaboration, PT PLN Nusantara Power Services, a subsidiary of PT Nusantara Power, will embark on thorough studies and coordinate endeavors to identify and nurture renewable energy prospects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">With a steadfast commitment to clean energy solutions, the partnership aims to harness Indonesian expertise in the renewable energy sector to enhance Nepal's energy landscape.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Established in 2001, PT PLN Nusantara Power Services boasts specialization in operating and maintaining power plants, with a commendable track record both domestically and internationally. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The company's stellar reputation for excellence has propelled its expansion into countries like Singapore, Malaysia, Kuwait, China, and Saudi Arabia.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Chairman Dhakal voiced optimism about the partnership, highlighting the potential of the MoU to unlock opportunities in Nepal's renewable energy sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">He underscored the significance of leveraging Indonesian expertise to propel sustainable development and address Nepal's burgeoning energy demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">IME Group, a diversified conglomerate with interests spanning various sectors such as hydropower, banking, insurance, tourism, manufacturing, infrastructure, and information technology, is committed to fostering innovation and sustainable growth across industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This collaboration with PT PLN Nusantara Power, which has successfully generated 23,000MW of power to date, underscores IME Group's unwavering dedication to these goals.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20583', 'image' => '20240430070024_IMG-20240430-WA0000.jpg', 'article_date' => '2024-04-30 18:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20855', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses Resistance of 2000-Point with Turnover of Rs 4.80 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week, on Tuesday. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">April 30: The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week on Tuesady. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout today’s trading session, 320 different scrips were traded through 75,271 transactions. A total of 11,828,150 shares changed their hands, resulting in a total turnover of Rs 4.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shine Resunga Development Bank Limited (SHINE) emerged as a key player, leading the market with a turnover of Rs 18 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Corporate Development Bank Limited (CORBL) saw the most substantial increase, soaring by 10% to close at Rs 486 per share.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Conversely, Pokhara Finance Limited (PFL) faced the steepest decline, losing 7.18% to end at Rs 679 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in green territory except Finance Index. The Development Bank Index experienced the highest surge, climbing by 4.90%, while the Finance Index suffered a loss of 1.18%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20582', 'image' => '20240430035747_collage (2).jpg', 'article_date' => '2024-04-30 15:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '20854', 'article_category_id' => '1', 'title' => 'Kathmandu Tops List of World’s Most Polluted Cities, Government urges People to Wear Masks', 'sub_title' => '', 'summary' => 'April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. Describing the air quality in the federal capital as among the most unhealthy globally, the ministry has advised the citizens to wear masks as a protective measure against pollution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Prakash Budhathoki, spokesperson for the ministry, stressed the importance of minimizing outdoor activities, avoiding unnecessary travel, and steering clear of heavily polluted areas due to the elevated levels of air pollutants in Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Citing the 'World Air Quality Index-Ranking', which ranks Kathmandu's air quality as the highest in terms of unhealthiness worldwide, Budhathoki said, “Air pollution impacts health causing cardiovascular issues, respiratory ailments like asthma, increases cancer risk, and other health complications.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mostly children under five years old, pregnant women, chronically ill people and the elderly account for high number of annual deaths due to air pollution in Nepal. Air pollution has reduced the average life expectancy of Nepalese by 4.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Budhathoki reiterated that numerous studies and data affirm air pollution as a primary contributor to illness and mortality rates in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the looming threat of heatwaves and heatstroke in the Terai region during the summer, the ministry has also urged people to limit unnecessary outdoor activities during daylight hours, increase fluid intake, and consume liquid-based foods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the ministry has observed a rise in admission of patients in hospitals and healthcare facilities nationwide coinciding with the escalating summer temperatures. -- RSS</span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20581', 'image' => '20240430035431_20240409100244_20230417022531_1681719143.tuhalo.jpg', 'article_date' => '2024-04-30 15:53:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20853', 'article_category_id' => '1', 'title' => 'Import of Chemical Fertilizers from India Stands at 3 Percent of the 5-Year Target of 935,000 Tons', 'sub_title' => '', 'summary' => 'April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. However, the Ministry of Agriculture says that the supply of chemical fertilizers from India stands slightly more than 3 percent of the five-year target. Farmers have been facing severe shortage of chemical fertilizers every year, especially during the farming season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Ministry of Agriculture and Livestock Development of Nepal and India's Ministry of Chemicals and Fertilizers had signed an agreement on February 28, 2022 with the latter committing to supply 935,000 metric tons of chemical fertilizers to Nepal over 5 years. So far, India has supplied only 30,000 metric tons of urea under the deal, with an additional 25,000 tons of DAP in the process of being imported.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal was supposed to receive 100,000 metric tons of urea and 50,000 tons of DAP in fiscal year 2078/79, followed by 100,000 tons of urea and 60,000 tons of DAP in fiscal year 2079/80. The current target for the year 2080/81 was to supply 115,000 tons of urea and 80,000 tons of DAP. However, with two and a half months remaining in the current fiscal year, it seems unlikely that the fertilizer will be supplied as per the commitment. The agreement stipulates that India will supply 120,000 tons of urea and 90,000 tons of DAP to Nepal in the years 2081/82 and 2082/83.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"We have not been able to create a suitable environment to import fertilizers based on the Government-to-Government (G2G) agreement," said Dr Govind Prasad Sharma, secretary of the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The state-owned Agricultural Inputs Company Limited has been tasked with importing fertilizer under the G2G agreement. Bishnu Prasad Pokharel, the company's managing director, admitted that they could not deliver the fertilizer on time as per the contract due to weaknesses in systems of both the governments of Nepal and India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Under the G2G process, India buys fertilizer from other countries and supplies it to Nepal. "India proposed this process only while finalizing the G2G agreement, leading to delays in the procurement process," Pokharel explained.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pokharel further noted that India initially requested advance payment, but Nepal could not provide it, causing delays. "Previously, Nepal was expected to receive up to 25,000 tons of fertilizer after making an advance payment for 5,000 tons," Pokharel stated. "However, now 100 percent of the payment must be made four months in advance."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, disruptions in the supply system due to the COVID-19 pandemic caused chemical fertilizer prices to rise. Additionally, the conflict between Russia and Ukraine further exacerbated the price hike, as Russia is one of the world's largest exporters of chemical fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">International media reports indicate that the price of chemical fertilizers has increased by 300 percent due to supply risks after the outbreak of the war. Government officials assert that despite the price surge, Nepal lacks the necessary conditions to import fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the international market price for both urea and DAP was over a thousand dollars per ton. Currently, the price of urea in the international market is around 300 US dollars per ton, while DAP is approximately 580 USD per ton, according to the Agricultural Inputs Company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Although fertilizer prices have decreased in the international market, the supply remains insufficient. Currently, the Salt Trading Corporation and Agricultural Inputs Company have 75,966 tons of urea, 16,835 tons of DAP, and 6,234 tons of potash.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Government estimates suggest that Nepal's annual demand for chemical fertilizers is about 700,000 metric tons. Due to limited stock and supply, there are concerns of a fertilizer shortage before the planting of the annual crop this year as well. However, in a press conference held by the Ministry of Agriculture two weeks ago, the government announced that an additional 88,000 metric tons of fertilizer are expected to arrive. "Nearly 600,000 tons of chemical fertilizers have been tendered," Secretary Sharma confirmed. "Therefore, there will be no shortage of fertilizer this year."</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20580', 'image' => '20240430034141_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-04-30 15:40:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20851', 'article_category_id' => '1', 'title' => 'Government Fails to Expedite Labour Agreements with European Countries', 'sub_title' => '', 'summary' => 'April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Labour, Employment, and Social Security informed that the government has signed labor agreements with Britain, Germany, and Romania in Europe. As of now, Nepal has signed labor agreements with 12 countries including the three European countries, the ministry reported. Other major countries with labor agreements include those in the Gulf, Malaysia, South Korea, and Japan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has expressed its intention to initiate labor agreements with more European countries. However, the government has not made tangible achievements yet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Govinda Prasad Rijal, Joint Secretary at the Ministry of Labour, Employment, and Social Security, stated that discussions are ongoing for labor agreements with Turkey, Portugal, Poland, Cyprus, Malta, and other countries. "We are working to submit the draft for the labor agreement through diplomatic channels," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Preparations are being made to send Nepali workers to work in fields related to ships and cruises, particularly in Turkey. Officials indicate that the government is actively lobbying to send Nepalese workers to Cyprus, Poland, and other countries for employment in construction and agriculture sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite signing labour agreements with some countries, government officials acknowledge challenges in properly facilitating the deployment of workers. "We have not been able to send workers to some countries as expected despite signing agreements. We are streamlining procedures to facilitate this process,” Rijal said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Data reveals that Croatia, Malta, Cyprus, Poland, the UK, and other countries are major labor destinations for Nepalese workers in Europe. According to the Department of Foreign Employment, the number of workers migrating to these countries stood at 20,000 in the fiscal year 2078/79, which increased to 37,000 in 2079/80. As of mid-December of the current fiscal year, 23,655 Nepalis have obtained work permits and migrated to various European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts emphasize that a significant number of Nepalis engage in labor migration to these countries, including those who initially travel on tourist visas or for study. They point out that the absence of labor agreements with some European countries is causing problems for many Nepali workers such as exploitation and difficulty securing employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign employment expert Dr Ganesh Gurung states that the government should exert maximum effort to establish labor agreements with European countries through diplomatic channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it appears that the government has not been sufficiently proactive in this regard," he said. Gurung believes that due to the government’s apathy, potential labor agreements with countries that could greatly benefit Nepal are being overlooked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Britain became the first European country to sign a labor agreement with Nepal in August 2079, primarily focusing on recruiting Nepali nurses. Subsequently, agreements were signed with Germany and Romania in October 2080. Government officials report that Germany has yet to determine the sectors in which Nepali workers will be employed. Romania expressed the need for Nepali workers in construction, service, hospitality, and agriculture sectors. Currently, Nepali workers are being employed in Romania as security guards, drivers, chefs, construction workers, and in the readymade garment industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To reduce dependency on Gulf countries for foreign employment, the government established a task force under the coordination of former ambassador Uday Raj Pandey. The task force recommended exploring new destination countries, particularly in Europe, such as Portugal, the Czech Republic, Romania, Poland, Sweden, Denmark, and others, for Nepali labourers. The task force suggested that these countries could offer favorable opportunities for Nepali workers due to high demand in service, agriculture, and production sectors. It emphasized that the relatively strong economic status of European countries makes them potential new destinations for foreign employment. However, the government has not effectively implemented the task force's recommendations, with the report remaining gathering dust for an extended period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20578', 'image' => '20240430015615_20231005094916_ed - Copy.jpg', 'article_date' => '2024-04-30 13:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20850', 'article_category_id' => '1', 'title' => 'G7 holds 'Strategic' Talks in Climate Hotspot Italy ', 'sub_title' => '', 'summary' => 'April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven meeting in the northern Italian city is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It comes as a new report by a global climate institute shows the G7 is falling far short of its targets. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Hundreds of protesters demonstrated in Turin on Sunday, some burning photos of the G7 leaders as they accused them of failing future generations over the climate crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rome, which holds the G7 rotating presidency, says it wants Turin to be "a strategic link" between last year's Conference of Parties in Dubai and COP29, which will take place in November in Azerbaijan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aim is "to make the course set out by COP28 practical, real, concrete," Italian Environment and Energy Security Minister Gilberto Pichetto Fratin said ahead of the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Italy, a climate change hotspot vulnerable to wildfires, drought and glacier retreat, is putting "biodiversity, ecosystems, warming seas" high on the agenda, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Delegations from Dubai and Azerbaijan are in Turin, as well as from Brazil, which hosts the G20 this year. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Innovative'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment ministers from the G7, which includes Canada, France, Germany, Japan, the UK and the US, will meet for four working sessions over two days at the 17th century Palace of Venaria. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environmentalists want to know how they intend to follow through on pledges such as the agreement in Dubai to double energy efficiency rates and triple renewable capacity by 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The talks will stress the need to diversify sources of critical materials key to renewable energy systems, as well as minerals reuse, in a bid to stop overreliance on China, which dominates in green technologies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy says rare earths and renewables will be part of discussions with African delegations invited to Turin. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Canada, France, Germany and the UK are pushing for a global treaty to reduce plastics pollution, and are expected to use the G7 to rally a reluctant US and Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate watchers hope for a ramping up of support for less developed countries in decarbonising their industrial production, with experts advising on particularly tricky sectors, like cement and steel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There may be commitments on more funds for adaptation to climate change, and Italy said the G7 would discuss "innovative" financing models amid calls for more accessible finance for vulnerable countries. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Watched closely'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Together the G7 makes up around 38 percent of the global economy and was responsible for 21 percent of total greenhouse gas emissions in 2021, according to the Climate Analytics policy institute. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Not one member of the group is on track to meet existing emission reduction targets for 2030, managing instead to cut them by "at best around half of what is needed", a report by the institute said last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The US finalised sweeping plans Thursday to curb emissions from fossil fuel plants, giving existing coal plants until 2032 to reduce their carbon dioxide output by 90 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France is expected to push for the G7 to phase out coal by 2030, but Japan is reluctant to set a date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Germany -- Europe's biggest emitter of greenhouse gases -- is unwilling to wean off gas, as is Italy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy's far-right Prime Minister Giorgia Meloni has vowed repeatedly to transform Italy into a gas hub for Europe, seeking new suppliers in the Mediterranean and Africa and expanding gas infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi, founder of Italian climate think tank ECCO, questioned Italy's claim that gas was essential for its energy security, and said its interest in nascent technologies such as nuclear fusion is misguided. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">G7 decisions "have a big impact on the markets and on the ideas and expectations of investors", and Italy's stewardship in Turin "will be watched closely", he said. – AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20577', 'image' => '20240430012001_GettyImages-1143968019-b9eaada3149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-04-30 13:19:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20849', 'article_category_id' => '1', 'title' => '21.7 Per Cent Industries Still do not Pay Minimum Wage: GEFONT Report ', 'sub_title' => '', 'summary' => 'April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The General Federation of Nepalese Trade Unions (GEFONT), a labour union affiliated with the CPN-UML, unveiled the Labour Audit Report- 2080 BS in a press conference on Monday, which revealed the startling facts about the condition of labourers and daily wage earners in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has determined Rs 17,300 per month as the minimum wage in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the situation of implementation of minimum wages and facilities for the workers was becoming critical in the country. Much to the dismay, situation of implementation of minimum wage in industrial enterprises, where the union is active, is not much rosy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finding of the GEFONT, 15.30 per cent industrial establishments had not paid their workers minimum wage in 2079 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 72.6 per cent companies were found not paying minimum wage and overtime perks to workers hired through labour outsourcing companies in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploitation of the labourers is approaching towards a critical point, cautioned the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the Labour Act-2074 BS stipulates that the workers cannot be forced to work for more than eight hours a day and 48 hours a week, it is far from effective implementation, the report lamented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the scenario of child labour paints a slightly brighter picture as per the report. The industries employing children as workers were decreasing lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2079 BS, the industries using child labour was 0.75 per cent which reduced to 0.6 percent in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the press conference, GEFONT's President Binod Shrestha read out a 25-point declaration prepared by the union in the context of the upcoming May Day (International Labour Day on May 1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The union has been complaining with the government regarding lax implementation of the Labour Act-2074 BS which aims to secure the welfare of the workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the 25-point declaration, the union demanded an orientation session for the labourers about social security fund. It also underscored strict implementation of the minimum wage provision and removal of the provision of not filing the case against forceful transfer in the labour court among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Working Journalist Association's Chairperson Janmadev Jaisi argued that the syndicate system in the industry and political instability had caused economic crisis in the country which, according to him, had hit the daily wagers the hardest. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20576', 'image' => '20240430115446_shutterstock_707531416-1.jpg', 'article_date' => '2024-04-30 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20848', 'article_category_id' => '1', 'title' => 'Investment Summit Concludes with Signing of Important Agreements ', 'sub_title' => '', 'summary' => 'April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country. The notable participation of domestic and foreign investors, along with some significant outcome has conveyed the message that Nepal is an attractive destination for investment, said Chief Executive Officer of Investment Board Nepal (IBN), Sushil Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"During the two-day investment summit, about a dozen agreements have been signed with memorandums of understandings to advance the concept of public-private partnership. In addition, more than 30 foreign delegations have had separate meetings with the ministers of various related ministries," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first day of the summit saw signing of three agreements. An agreement was signed between BLC Group Nepal and Yotta Data Services Private Limited India for collaboration in data center construction and operation. The agreement was signed by BLC Group’s Managing Director Megha Chaudhary and Yotta Chief Executive Officer Sunil Gupta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The second agreement signed on Sunday was between the Federation of Nepalese Chambers of Commerce and Industry and the National Chamber of Commerce, Malaysia regarding collaboration and cooperation for the promotion of bilateral trade and investment. FNCCI President Chandra Prasad Dhakal and National Chamber of Commerce and Industry of Malaysia (NCCIM)’s President Tan Sri Son Thain Lai signed the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the FNCCI has also signed an agreement of cooperation with the Federation of Malaysian Manufacturers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, on the second day of the summit, a bilateral cooperation agreement was reached between the World Association of PPP Units and Professionals (WAPPP) and the Nepal Association of PPP Professionals of Practitioners (NAP) for the promotion of Public-Private Partnership (PPP) in Nepal. The MoU was signed by President Ziad Alexandre Hayek on behalf of WAPPP and President Anup Kumar Upadhyay, on behalf of NAP. As per the MoU both organizations will collaborate on matters of common interest, exchange knowledge and experience related to public-private partnership, and promote international best practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An agreement on cooperation and collaboration in hotel business was signed between Sakha Group of Nepal and Bor Group of Hotel China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two MoUs have been signed to bring in investment from Chinese companies through the private sector of Nepal. Separate MoUs was signed between Nepal's NexGen Management Solutions Private Limited and China's MABC Investment Private Limited as well as FNCCI and China's Donggaun Jinyang Lighting Product Company Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Third Investment Summit also ensured Australian investment to open a modern resort at Rara lake area of Mugu district. Expert Group of Australia would invest in the resort. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An MoU for the investment collaboration was signed by Badri Aryal and Sanjeev Sharma on behalf the Expert Group and by Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Federation of Nepalese Industries and Commerce (FNIC) and the Indian Industries Association (IIA) inked an MoU for a bilateral cooperation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNIC president Khim Lal Bhandari and IIA chairperson Anuj Kumar Garg signed the MoU on behalf of their respective sides. The MoU aims to promote cooperation and mutual interests in investment, trade, and industrial development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, during the summit, investment worth Rs 9.13 billion has been approved by the Department of Industry for four different projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shankar Singh Dhami, Director at the Foreign Investment and Technology Transfer Section of the Department, shared that Rs 6 billion has been approved to set up an investment company in Bhaktapur and Rs 3 billion to establish a commercial building complex in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, an investment of Rs 76 million for construction of hydropower project of 200 KW capacity has been endorsed for which Eccles Energy Limited (the UK) will have 85 per cent investment and Mohanyal rural municipality in Kailali district will bear the remaining 15 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 62 million has been approved for constructing hotels and restaurants in Lalitpur district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Department launched a system that approves foreign investment through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department inaugurated the system of foreign investment approval through the automated system on Monday, the second and last day of the summit. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the system effective from April 29 and receive the letter of approval of foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, agreement has been inked for operating remit hydro power projects utilizing the remittance for hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the second day of the summit, an agreement was inked among the Hydro Electricity Investment and Development Company Limited and Non-Resident Nepali Association and National Coordination Council for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Bhatta (Qatar), Raj Kumar Shrestha (Bahrain), Binod Thapa (Malaysia), Binod Shrestha (Iraq), Bikash Shahi (UAE), Bikal Jha (Oman) and Tikaram Kharel (Japan) signed the agreement on the behalf of the council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another agreement was signed between the Nepal Chamber of Commerce and delegates from Croatia for trade facilitation and facilitation for investment in tourism sector. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20575', 'image' => '20240430112353_investment summit.jpg', 'article_date' => '2024-04-30 11:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20847', 'article_category_id' => '1', 'title' => 'Third Investment Summit-2024 was Successful: Finance Minister', 'sub_title' => '', 'summary' => 'Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a meeting with ambassadors, along with representatives from the World Bank, Asian Development Bank, International Monetary Fund, and United Nations Development Programme, Minister Pun reiterated that the summit was a great success.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Highlighting participation of development partners in the investment summit, Pun argued that presence of development partners, investors, and stakeholders confirmed the success of the summit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The presence of representatives of various countries and development partners at the investment summit confirms Nepal as an excellent destination for investment,” the minister asserted.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the meeting, the minister expressed commitment to further enhancing cooperation with development partners in the coming days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"Nepal is an outstanding and attractive destination for investment, and there are ample investment opportunities here in energy, tourism, information technology, agriculture, and infrastructure projects,” he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun shared that Nepal was developing capacities to transition from least developed to developing country. He highlighted significant opportunities for both domestic and foreign investment in Nepal due to its strategic location between China and India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20574', 'image' => '20240430054935_collage (67).jpg', 'article_date' => '2024-04-30 05:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20865', 'article_category_id' => '1', 'title' => 'Hitech Group Invests Rs 1 Billion to Set Up Fortune Resort ', 'sub_title' => '', 'summary' => 'May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. This expansion includes a significant investment in a resort operating under the esteemed 'Fortune' brand, managed by Fortune Park Hotel Limited, a distinguished member of the renowned ITC Hotel Group in India.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Group’s Chairman Kamal Jain informed New Business Age that the group inaugurated the Fortune Resort and Wellness Spa in Sanga, Bhaktapur on Tuesday. He said that the resort was brought into operation with an investment of more than Rs 1 billion. The resort has 67 rooms and can be extended to 150 rooms. He said that the additional rooms will be prepared soon. He added that he has worked in the tourism sector of Nepal and now he is entering the hospitality sector by bringing the resort into operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Jain, who founded the Hilltech company in 1992, built a huge statue of Lord Shiva in Sanga in 2011. He said the resort is being operated in the same locality.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort built on 25 ropanis in Sanga will also be managed by Fortune Hotel of India. Industry, Commerce and Supply Minister Damodar Bhandari inaugurated the resort on Tuesday. Jain claims that the resort's spa is the best in Nepal. In the inaugural program, the Managing Director of Fortune Hotel Sameer MC said that they are excited to start the first branch in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said that Nepal is the first choice of tourists who are looking for exciting experiences such as cultural heritage and natural beauty. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We will bring the facilities of Fortune Hotels to Nepal," he said. In the program, Jain said that the concept of a peaceful resort will further strengthen the spa experience of tourists coming to Nepal. The resort has ample rooms, cottages and suites decorated with modern decor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort has facilities like a spa, relaxing treatment room, therapy room, sauna, steam room, gym, and swimming pool with a pleasing view. Jain said that the resort, which has three large banquets, will also be developed as a wedding destination. The resort also has a separate area for parties and meetings.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20592', 'image' => '20240501015328_hhh.jpg', 'article_date' => '2024-05-01 13:51:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20863', 'article_category_id' => '1', 'title' => 'G7 Agrees to Phase Out Coal-Fired Power Plants by Mid-2030s ', 'sub_title' => '', 'summary' => 'May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven two-day meeting in Turin is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 commits to "phase out existing unabated coal power generation in our energy systems during the first half of 2030s," the final statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However it left some wiggle room, saying nations could follow "a timeline consistent with keeping a limit of 1.5°C temperature rise within reach, in line with countries' net zero pathways". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Negotiations over a fixed date were reportedly tricky, with Japan -- which relies heavily on coal -- reluctant to commit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2015 Paris Agreement saw countries agree to cap global warming at "well below" 2C above preindustrial times -- with a safer limit of 1.5C if possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To keep the 1.5C limit in play, the UN's climate expert panel has said emissions need to be slashed almost in half this decade, but they continue to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France's Ecological Transition Minister Christophe Bechu said the commitment "shows the determination to implement the transition away from fossil fuels decided at COP28". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi from the Italian climate think tank ECCO said the G7 had taken a "decisive step forward" in translating the Dubai agreement into national policies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the Climate Analytics policy institute said "2035 is too late". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Many of these countries have already publicly committed to phase out dates ahead of 2030, and only have a small amount of coal capacity anyway," Jane Ellis, head of climate policy, said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 ministers also tackled the thorny issue of plastic pollution amid a heated debate over how to design a treaty addressing the scourge -- by reducing production or boosting recycling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministers said they "aspired" to reduce and if necessary restrain the global production of plastic". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plastic waste is now found everywhere from the summits of mountains to the ocean floor and in human blood and breast milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 "aspiration" comes as a fourth and penultimate round of UN-led negotiations to solve global plastic pollution wrapped up in Ottawa with a world-first pact said to be within reach by year's end -- but without a cap on the production of polymers. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20590', 'image' => '20240501124703_202404149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-05-01 12:46:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20861', 'article_category_id' => '1', 'title' => ''Issues Raised in Investment Summit to be Immediately Taken into Action' ', 'sub_title' => '', 'summary' => 'May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu 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"">May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to execute the issues raised in the two-day summit that was held on Sunday and Monday under the aegis of the Investment Board and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investment Board's Chief Executive Officer and Member-Secretary of Nepal Investment Summit 2024 Direction Committee, Sushil Bhatta, made a commitment for moving ahead with routine follow-up mechanism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will seek a sealed proposal for 12 projects for which deals were signed during the summit. We have already published a notice on Sunday giving a deadline of 45 days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta claimed that Nepal has succeeded in conveying the message that it has created a conducive and competitive environment for the promotion of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the projects showcased in the third investment summit received immense interest from businessmen, entrepreneurs and investors from all over the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta said Nepal has been able to present itself as an attractive investment destination by showcasing potential projects in the areas of energy, information technology, tourism and infrastructure. Similarly, domestic investors have also said that an investment-friendly environment is being created in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal said the conference was successful. "Some of the commitments made in the previous investment conclaves could not be implemented due to lack of follow-up," he said, adding, "The summit has given investors hope that there is an investment opportunity in Nepal and can give good profits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal said that the ordinance issued after the start of the Third Investment Summit was an attempt to encourage the private sector. "We had suggested to the government to amend particular laws to enable environment for investment," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investors and development partners coming from India, China, the US and other countries said there is a possibility of investment in Nepal. This has also sent a very positive message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the investors were keen to invest in Nepal's hydropower, tourism, agriculture and information technology sectors. He also said that the commitment made by all political parties in the investment summit has given an important message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, it is now necessary for the government to follow-up on the investors who have made investment commitments and to draft regulations and procedures. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20588', 'image' => '20240501111139_investment summit.jpg', 'article_date' => '2024-05-01 11:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20860', 'article_category_id' => '1', 'title' => 'NOC Slashes Price of Diesel and Kerosene', 'sub_title' => '', 'summary' => 'May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. The prices of diesel and kerosene have been each decreased by Rs 2 per liter with effect from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the price adjustment, the NOC has fixed the price of diesel/kerosene at Rs 156.50 paisa per liter for the areas that fall under the first category, Rs 158 per liter for the second and Rs 159 per liter for the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category includes Charali, Biratnagar, Janakpur, Amlekhganj, Bhalbari, Nepalgunj, Dhangadhi and Birgunj while the second category includes Surkhet and Dang while Kathmandu, Pokhara and Dipayal fall under the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category areas lie near the border areas and therefore the cost of fuel is less while the third category areas are away from the border and incurs additional transportation charges.</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"">NOC is solely dependent on Indian Oil Corporation for the supply of petroleum products and fixes the prices of petroleum products based on the list provided by the IOC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NOC has increased aviation turbine fuel (ATF) for domestic flights by Re 1 per liter and for international flights by US$ 7 per kilolitre. As a result, the price of aviation fuel for domestic flights has reached Rs 137 per liter and the price of aviation fuel for international flights has climbed to US$ 1.042 per liter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The price of petrol and LPG (or cooking gas) remains unchanged, said NOC spokesperson Manoj Thakur. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20587', 'image' => '20240501103419_20240316105907_petroo - Copy.jpg', 'article_date' => '2024-05-01 10:33:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20859', 'article_category_id' => '1', 'title' => 'NSO Projects Economic Growth Rate of 3.54 Percent in Current FY ', 'sub_title' => '', 'summary' => 'May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. ', 'content' => '<p><span style="font-size:18px">May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. The figure is a sharp decline from the government’s target of achieving 6 percent economic growth as per the announcement made in the budget of the current fiscal year.</span></p> <p><span style="font-size:18px">The NSO made the projection on Tuesday while unveiling the Annual National Accounts Statistics for the fiscal year 2080/81. <br /> However, the NSO said that economic activities in the country are expected to accelerate compared to the first and second quarters of the current FY. <br /> Issuing a press statement, the NSO said that the size of the country’s economy will grow to Rs 5705 billion in the current fiscal year. The size of the country's economy was Rs 5348 billion in the last fiscal year, the NSO stated. <br /> According to the NSO, the growth rate of agriculture, forestry and fishery sector will be 3.05 percent while the growth rate of the non-agriculture sector will be 3.75 percent. <br /> Likewise, the primary sector will witness a growth rate of 3 percent while the growth of the secondary sector will be limited to 1.2 percent and the tertiary sector will have a better growth rate of 4.5 percent in the current fiscal year. <br /> The NSO has projected that the nominal per capita in GNI will be US dollars 1,456 and the per capita in GNDI will be US dollars 1,843. -- RSS </span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20586', 'image' => '20240501101641_20240430085457_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-01 10:14:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20858', 'article_category_id' => '1', 'title' => 'May Day Being Observed', 'sub_title' => '', 'summary' => 'International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. ', 'content' => '<p><span style="font-size:20px">May 1: International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. </span></p> <p><span style="font-size:20px">Labour Day has its roots in the late nineteenth-century labour movement, when workers battled for improved working conditions, advocating an eight-hour workday and fair salaries.</span></p> <p><span style="font-size:20px">Many businesses and government offices are closed as the government has declared it a public holiday to observe the May Day. </span></p> <p><span style="font-size:20px">Trade unions and workers' associations organize various programs and events to commemorate the day and highlight the importance of workers' rights and achievements. </span><br /> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20585', 'image' => '20240501090458_collage (68).jpg', 'article_date' => '2024-05-01 09:03:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20856', 'article_category_id' => '1', 'title' => 'IME Group, PT PLN Nusantara Power Join Hands to Explore Power Development Opportunities in Nepal', 'sub_title' => '', 'summary' => 'April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The Memorandum of Understanding (MoU) was inked by Chandra Prasad Dhakal, Chairman of IME Group, and Muhamad Reza, Director of PT. PLN Nusantara Power representing their respective organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under this collaboration, PT PLN Nusantara Power Services, a subsidiary of PT Nusantara Power, will embark on thorough studies and coordinate endeavors to identify and nurture renewable energy prospects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">With a steadfast commitment to clean energy solutions, the partnership aims to harness Indonesian expertise in the renewable energy sector to enhance Nepal's energy landscape.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Established in 2001, PT PLN Nusantara Power Services boasts specialization in operating and maintaining power plants, with a commendable track record both domestically and internationally. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The company's stellar reputation for excellence has propelled its expansion into countries like Singapore, Malaysia, Kuwait, China, and Saudi Arabia.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Chairman Dhakal voiced optimism about the partnership, highlighting the potential of the MoU to unlock opportunities in Nepal's renewable energy sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">He underscored the significance of leveraging Indonesian expertise to propel sustainable development and address Nepal's burgeoning energy demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">IME Group, a diversified conglomerate with interests spanning various sectors such as hydropower, banking, insurance, tourism, manufacturing, infrastructure, and information technology, is committed to fostering innovation and sustainable growth across industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This collaboration with PT PLN Nusantara Power, which has successfully generated 23,000MW of power to date, underscores IME Group's unwavering dedication to these goals.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20583', 'image' => '20240430070024_IMG-20240430-WA0000.jpg', 'article_date' => '2024-04-30 18:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20855', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses Resistance of 2000-Point with Turnover of Rs 4.80 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week, on Tuesday. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">April 30: The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week on Tuesady. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout today’s trading session, 320 different scrips were traded through 75,271 transactions. A total of 11,828,150 shares changed their hands, resulting in a total turnover of Rs 4.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shine Resunga Development Bank Limited (SHINE) emerged as a key player, leading the market with a turnover of Rs 18 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Corporate Development Bank Limited (CORBL) saw the most substantial increase, soaring by 10% to close at Rs 486 per share.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Conversely, Pokhara Finance Limited (PFL) faced the steepest decline, losing 7.18% to end at Rs 679 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in green territory except Finance Index. The Development Bank Index experienced the highest surge, climbing by 4.90%, while the Finance Index suffered a loss of 1.18%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20582', 'image' => '20240430035747_collage (2).jpg', 'article_date' => '2024-04-30 15:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '20854', 'article_category_id' => '1', 'title' => 'Kathmandu Tops List of World’s Most Polluted Cities, Government urges People to Wear Masks', 'sub_title' => '', 'summary' => 'April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. Describing the air quality in the federal capital as among the most unhealthy globally, the ministry has advised the citizens to wear masks as a protective measure against pollution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Prakash Budhathoki, spokesperson for the ministry, stressed the importance of minimizing outdoor activities, avoiding unnecessary travel, and steering clear of heavily polluted areas due to the elevated levels of air pollutants in Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Citing the 'World Air Quality Index-Ranking', which ranks Kathmandu's air quality as the highest in terms of unhealthiness worldwide, Budhathoki said, “Air pollution impacts health causing cardiovascular issues, respiratory ailments like asthma, increases cancer risk, and other health complications.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mostly children under five years old, pregnant women, chronically ill people and the elderly account for high number of annual deaths due to air pollution in Nepal. Air pollution has reduced the average life expectancy of Nepalese by 4.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Budhathoki reiterated that numerous studies and data affirm air pollution as a primary contributor to illness and mortality rates in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the looming threat of heatwaves and heatstroke in the Terai region during the summer, the ministry has also urged people to limit unnecessary outdoor activities during daylight hours, increase fluid intake, and consume liquid-based foods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the ministry has observed a rise in admission of patients in hospitals and healthcare facilities nationwide coinciding with the escalating summer temperatures. -- RSS</span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20581', 'image' => '20240430035431_20240409100244_20230417022531_1681719143.tuhalo.jpg', 'article_date' => '2024-04-30 15:53:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20853', 'article_category_id' => '1', 'title' => 'Import of Chemical Fertilizers from India Stands at 3 Percent of the 5-Year Target of 935,000 Tons', 'sub_title' => '', 'summary' => 'April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. However, the Ministry of Agriculture says that the supply of chemical fertilizers from India stands slightly more than 3 percent of the five-year target. Farmers have been facing severe shortage of chemical fertilizers every year, especially during the farming season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Ministry of Agriculture and Livestock Development of Nepal and India's Ministry of Chemicals and Fertilizers had signed an agreement on February 28, 2022 with the latter committing to supply 935,000 metric tons of chemical fertilizers to Nepal over 5 years. So far, India has supplied only 30,000 metric tons of urea under the deal, with an additional 25,000 tons of DAP in the process of being imported.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal was supposed to receive 100,000 metric tons of urea and 50,000 tons of DAP in fiscal year 2078/79, followed by 100,000 tons of urea and 60,000 tons of DAP in fiscal year 2079/80. The current target for the year 2080/81 was to supply 115,000 tons of urea and 80,000 tons of DAP. However, with two and a half months remaining in the current fiscal year, it seems unlikely that the fertilizer will be supplied as per the commitment. The agreement stipulates that India will supply 120,000 tons of urea and 90,000 tons of DAP to Nepal in the years 2081/82 and 2082/83.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"We have not been able to create a suitable environment to import fertilizers based on the Government-to-Government (G2G) agreement," said Dr Govind Prasad Sharma, secretary of the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The state-owned Agricultural Inputs Company Limited has been tasked with importing fertilizer under the G2G agreement. Bishnu Prasad Pokharel, the company's managing director, admitted that they could not deliver the fertilizer on time as per the contract due to weaknesses in systems of both the governments of Nepal and India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Under the G2G process, India buys fertilizer from other countries and supplies it to Nepal. "India proposed this process only while finalizing the G2G agreement, leading to delays in the procurement process," Pokharel explained.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pokharel further noted that India initially requested advance payment, but Nepal could not provide it, causing delays. "Previously, Nepal was expected to receive up to 25,000 tons of fertilizer after making an advance payment for 5,000 tons," Pokharel stated. "However, now 100 percent of the payment must be made four months in advance."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, disruptions in the supply system due to the COVID-19 pandemic caused chemical fertilizer prices to rise. Additionally, the conflict between Russia and Ukraine further exacerbated the price hike, as Russia is one of the world's largest exporters of chemical fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">International media reports indicate that the price of chemical fertilizers has increased by 300 percent due to supply risks after the outbreak of the war. Government officials assert that despite the price surge, Nepal lacks the necessary conditions to import fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the international market price for both urea and DAP was over a thousand dollars per ton. Currently, the price of urea in the international market is around 300 US dollars per ton, while DAP is approximately 580 USD per ton, according to the Agricultural Inputs Company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Although fertilizer prices have decreased in the international market, the supply remains insufficient. Currently, the Salt Trading Corporation and Agricultural Inputs Company have 75,966 tons of urea, 16,835 tons of DAP, and 6,234 tons of potash.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Government estimates suggest that Nepal's annual demand for chemical fertilizers is about 700,000 metric tons. Due to limited stock and supply, there are concerns of a fertilizer shortage before the planting of the annual crop this year as well. However, in a press conference held by the Ministry of Agriculture two weeks ago, the government announced that an additional 88,000 metric tons of fertilizer are expected to arrive. "Nearly 600,000 tons of chemical fertilizers have been tendered," Secretary Sharma confirmed. "Therefore, there will be no shortage of fertilizer this year."</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20580', 'image' => '20240430034141_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-04-30 15:40:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20851', 'article_category_id' => '1', 'title' => 'Government Fails to Expedite Labour Agreements with European Countries', 'sub_title' => '', 'summary' => 'April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Labour, Employment, and Social Security informed that the government has signed labor agreements with Britain, Germany, and Romania in Europe. As of now, Nepal has signed labor agreements with 12 countries including the three European countries, the ministry reported. Other major countries with labor agreements include those in the Gulf, Malaysia, South Korea, and Japan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has expressed its intention to initiate labor agreements with more European countries. However, the government has not made tangible achievements yet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Govinda Prasad Rijal, Joint Secretary at the Ministry of Labour, Employment, and Social Security, stated that discussions are ongoing for labor agreements with Turkey, Portugal, Poland, Cyprus, Malta, and other countries. "We are working to submit the draft for the labor agreement through diplomatic channels," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Preparations are being made to send Nepali workers to work in fields related to ships and cruises, particularly in Turkey. Officials indicate that the government is actively lobbying to send Nepalese workers to Cyprus, Poland, and other countries for employment in construction and agriculture sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite signing labour agreements with some countries, government officials acknowledge challenges in properly facilitating the deployment of workers. "We have not been able to send workers to some countries as expected despite signing agreements. We are streamlining procedures to facilitate this process,” Rijal said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Data reveals that Croatia, Malta, Cyprus, Poland, the UK, and other countries are major labor destinations for Nepalese workers in Europe. According to the Department of Foreign Employment, the number of workers migrating to these countries stood at 20,000 in the fiscal year 2078/79, which increased to 37,000 in 2079/80. As of mid-December of the current fiscal year, 23,655 Nepalis have obtained work permits and migrated to various European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts emphasize that a significant number of Nepalis engage in labor migration to these countries, including those who initially travel on tourist visas or for study. They point out that the absence of labor agreements with some European countries is causing problems for many Nepali workers such as exploitation and difficulty securing employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign employment expert Dr Ganesh Gurung states that the government should exert maximum effort to establish labor agreements with European countries through diplomatic channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it appears that the government has not been sufficiently proactive in this regard," he said. Gurung believes that due to the government’s apathy, potential labor agreements with countries that could greatly benefit Nepal are being overlooked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Britain became the first European country to sign a labor agreement with Nepal in August 2079, primarily focusing on recruiting Nepali nurses. Subsequently, agreements were signed with Germany and Romania in October 2080. Government officials report that Germany has yet to determine the sectors in which Nepali workers will be employed. Romania expressed the need for Nepali workers in construction, service, hospitality, and agriculture sectors. Currently, Nepali workers are being employed in Romania as security guards, drivers, chefs, construction workers, and in the readymade garment industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To reduce dependency on Gulf countries for foreign employment, the government established a task force under the coordination of former ambassador Uday Raj Pandey. The task force recommended exploring new destination countries, particularly in Europe, such as Portugal, the Czech Republic, Romania, Poland, Sweden, Denmark, and others, for Nepali labourers. The task force suggested that these countries could offer favorable opportunities for Nepali workers due to high demand in service, agriculture, and production sectors. It emphasized that the relatively strong economic status of European countries makes them potential new destinations for foreign employment. However, the government has not effectively implemented the task force's recommendations, with the report remaining gathering dust for an extended period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20578', 'image' => '20240430015615_20231005094916_ed - Copy.jpg', 'article_date' => '2024-04-30 13:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20850', 'article_category_id' => '1', 'title' => 'G7 holds 'Strategic' Talks in Climate Hotspot Italy ', 'sub_title' => '', 'summary' => 'April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven meeting in the northern Italian city is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It comes as a new report by a global climate institute shows the G7 is falling far short of its targets. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Hundreds of protesters demonstrated in Turin on Sunday, some burning photos of the G7 leaders as they accused them of failing future generations over the climate crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rome, which holds the G7 rotating presidency, says it wants Turin to be "a strategic link" between last year's Conference of Parties in Dubai and COP29, which will take place in November in Azerbaijan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aim is "to make the course set out by COP28 practical, real, concrete," Italian Environment and Energy Security Minister Gilberto Pichetto Fratin said ahead of the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Italy, a climate change hotspot vulnerable to wildfires, drought and glacier retreat, is putting "biodiversity, ecosystems, warming seas" high on the agenda, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Delegations from Dubai and Azerbaijan are in Turin, as well as from Brazil, which hosts the G20 this year. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Innovative'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment ministers from the G7, which includes Canada, France, Germany, Japan, the UK and the US, will meet for four working sessions over two days at the 17th century Palace of Venaria. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environmentalists want to know how they intend to follow through on pledges such as the agreement in Dubai to double energy efficiency rates and triple renewable capacity by 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The talks will stress the need to diversify sources of critical materials key to renewable energy systems, as well as minerals reuse, in a bid to stop overreliance on China, which dominates in green technologies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy says rare earths and renewables will be part of discussions with African delegations invited to Turin. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Canada, France, Germany and the UK are pushing for a global treaty to reduce plastics pollution, and are expected to use the G7 to rally a reluctant US and Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate watchers hope for a ramping up of support for less developed countries in decarbonising their industrial production, with experts advising on particularly tricky sectors, like cement and steel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There may be commitments on more funds for adaptation to climate change, and Italy said the G7 would discuss "innovative" financing models amid calls for more accessible finance for vulnerable countries. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Watched closely'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Together the G7 makes up around 38 percent of the global economy and was responsible for 21 percent of total greenhouse gas emissions in 2021, according to the Climate Analytics policy institute. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Not one member of the group is on track to meet existing emission reduction targets for 2030, managing instead to cut them by "at best around half of what is needed", a report by the institute said last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The US finalised sweeping plans Thursday to curb emissions from fossil fuel plants, giving existing coal plants until 2032 to reduce their carbon dioxide output by 90 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France is expected to push for the G7 to phase out coal by 2030, but Japan is reluctant to set a date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Germany -- Europe's biggest emitter of greenhouse gases -- is unwilling to wean off gas, as is Italy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy's far-right Prime Minister Giorgia Meloni has vowed repeatedly to transform Italy into a gas hub for Europe, seeking new suppliers in the Mediterranean and Africa and expanding gas infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi, founder of Italian climate think tank ECCO, questioned Italy's claim that gas was essential for its energy security, and said its interest in nascent technologies such as nuclear fusion is misguided. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">G7 decisions "have a big impact on the markets and on the ideas and expectations of investors", and Italy's stewardship in Turin "will be watched closely", he said. – AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20577', 'image' => '20240430012001_GettyImages-1143968019-b9eaada3149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-04-30 13:19:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20849', 'article_category_id' => '1', 'title' => '21.7 Per Cent Industries Still do not Pay Minimum Wage: GEFONT Report ', 'sub_title' => '', 'summary' => 'April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The General Federation of Nepalese Trade Unions (GEFONT), a labour union affiliated with the CPN-UML, unveiled the Labour Audit Report- 2080 BS in a press conference on Monday, which revealed the startling facts about the condition of labourers and daily wage earners in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has determined Rs 17,300 per month as the minimum wage in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the situation of implementation of minimum wages and facilities for the workers was becoming critical in the country. Much to the dismay, situation of implementation of minimum wage in industrial enterprises, where the union is active, is not much rosy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finding of the GEFONT, 15.30 per cent industrial establishments had not paid their workers minimum wage in 2079 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 72.6 per cent companies were found not paying minimum wage and overtime perks to workers hired through labour outsourcing companies in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploitation of the labourers is approaching towards a critical point, cautioned the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the Labour Act-2074 BS stipulates that the workers cannot be forced to work for more than eight hours a day and 48 hours a week, it is far from effective implementation, the report lamented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the scenario of child labour paints a slightly brighter picture as per the report. The industries employing children as workers were decreasing lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2079 BS, the industries using child labour was 0.75 per cent which reduced to 0.6 percent in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the press conference, GEFONT's President Binod Shrestha read out a 25-point declaration prepared by the union in the context of the upcoming May Day (International Labour Day on May 1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The union has been complaining with the government regarding lax implementation of the Labour Act-2074 BS which aims to secure the welfare of the workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the 25-point declaration, the union demanded an orientation session for the labourers about social security fund. It also underscored strict implementation of the minimum wage provision and removal of the provision of not filing the case against forceful transfer in the labour court among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Working Journalist Association's Chairperson Janmadev Jaisi argued that the syndicate system in the industry and political instability had caused economic crisis in the country which, according to him, had hit the daily wagers the hardest. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20576', 'image' => '20240430115446_shutterstock_707531416-1.jpg', 'article_date' => '2024-04-30 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20848', 'article_category_id' => '1', 'title' => 'Investment Summit Concludes with Signing of Important Agreements ', 'sub_title' => '', 'summary' => 'April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country. The notable participation of domestic and foreign investors, along with some significant outcome has conveyed the message that Nepal is an attractive destination for investment, said Chief Executive Officer of Investment Board Nepal (IBN), Sushil Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"During the two-day investment summit, about a dozen agreements have been signed with memorandums of understandings to advance the concept of public-private partnership. In addition, more than 30 foreign delegations have had separate meetings with the ministers of various related ministries," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first day of the summit saw signing of three agreements. An agreement was signed between BLC Group Nepal and Yotta Data Services Private Limited India for collaboration in data center construction and operation. The agreement was signed by BLC Group’s Managing Director Megha Chaudhary and Yotta Chief Executive Officer Sunil Gupta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The second agreement signed on Sunday was between the Federation of Nepalese Chambers of Commerce and Industry and the National Chamber of Commerce, Malaysia regarding collaboration and cooperation for the promotion of bilateral trade and investment. FNCCI President Chandra Prasad Dhakal and National Chamber of Commerce and Industry of Malaysia (NCCIM)’s President Tan Sri Son Thain Lai signed the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the FNCCI has also signed an agreement of cooperation with the Federation of Malaysian Manufacturers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, on the second day of the summit, a bilateral cooperation agreement was reached between the World Association of PPP Units and Professionals (WAPPP) and the Nepal Association of PPP Professionals of Practitioners (NAP) for the promotion of Public-Private Partnership (PPP) in Nepal. The MoU was signed by President Ziad Alexandre Hayek on behalf of WAPPP and President Anup Kumar Upadhyay, on behalf of NAP. As per the MoU both organizations will collaborate on matters of common interest, exchange knowledge and experience related to public-private partnership, and promote international best practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An agreement on cooperation and collaboration in hotel business was signed between Sakha Group of Nepal and Bor Group of Hotel China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two MoUs have been signed to bring in investment from Chinese companies through the private sector of Nepal. Separate MoUs was signed between Nepal's NexGen Management Solutions Private Limited and China's MABC Investment Private Limited as well as FNCCI and China's Donggaun Jinyang Lighting Product Company Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Third Investment Summit also ensured Australian investment to open a modern resort at Rara lake area of Mugu district. Expert Group of Australia would invest in the resort. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An MoU for the investment collaboration was signed by Badri Aryal and Sanjeev Sharma on behalf the Expert Group and by Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Federation of Nepalese Industries and Commerce (FNIC) and the Indian Industries Association (IIA) inked an MoU for a bilateral cooperation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNIC president Khim Lal Bhandari and IIA chairperson Anuj Kumar Garg signed the MoU on behalf of their respective sides. The MoU aims to promote cooperation and mutual interests in investment, trade, and industrial development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, during the summit, investment worth Rs 9.13 billion has been approved by the Department of Industry for four different projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shankar Singh Dhami, Director at the Foreign Investment and Technology Transfer Section of the Department, shared that Rs 6 billion has been approved to set up an investment company in Bhaktapur and Rs 3 billion to establish a commercial building complex in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, an investment of Rs 76 million for construction of hydropower project of 200 KW capacity has been endorsed for which Eccles Energy Limited (the UK) will have 85 per cent investment and Mohanyal rural municipality in Kailali district will bear the remaining 15 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 62 million has been approved for constructing hotels and restaurants in Lalitpur district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Department launched a system that approves foreign investment through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department inaugurated the system of foreign investment approval through the automated system on Monday, the second and last day of the summit. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the system effective from April 29 and receive the letter of approval of foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, agreement has been inked for operating remit hydro power projects utilizing the remittance for hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the second day of the summit, an agreement was inked among the Hydro Electricity Investment and Development Company Limited and Non-Resident Nepali Association and National Coordination Council for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Bhatta (Qatar), Raj Kumar Shrestha (Bahrain), Binod Thapa (Malaysia), Binod Shrestha (Iraq), Bikash Shahi (UAE), Bikal Jha (Oman) and Tikaram Kharel (Japan) signed the agreement on the behalf of the council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another agreement was signed between the Nepal Chamber of Commerce and delegates from Croatia for trade facilitation and facilitation for investment in tourism sector. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20575', 'image' => '20240430112353_investment summit.jpg', 'article_date' => '2024-04-30 11:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20847', 'article_category_id' => '1', 'title' => 'Third Investment Summit-2024 was Successful: Finance Minister', 'sub_title' => '', 'summary' => 'Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a meeting with ambassadors, along with representatives from the World Bank, Asian Development Bank, International Monetary Fund, and United Nations Development Programme, Minister Pun reiterated that the summit was a great success.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Highlighting participation of development partners in the investment summit, Pun argued that presence of development partners, investors, and stakeholders confirmed the success of the summit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The presence of representatives of various countries and development partners at the investment summit confirms Nepal as an excellent destination for investment,” the minister asserted.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the meeting, the minister expressed commitment to further enhancing cooperation with development partners in the coming days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"Nepal is an outstanding and attractive destination for investment, and there are ample investment opportunities here in energy, tourism, information technology, agriculture, and infrastructure projects,” he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun shared that Nepal was developing capacities to transition from least developed to developing country. He highlighted significant opportunities for both domestic and foreign investment in Nepal due to its strategic location between China and India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20574', 'image' => '20240430054935_collage (67).jpg', 'article_date' => '2024-04-30 05:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. This expansion includes a significant investment in a resort operating under the esteemed 'Fortune' brand, managed by Fortune Park Hotel Limited, a distinguished member of the renowned ITC Hotel Group in India.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Group’s Chairman Kamal Jain informed New Business Age that the group inaugurated the Fortune Resort and Wellness Spa in Sanga, Bhaktapur on Tuesday. He said that the resort was brought into operation with an investment of more than Rs 1 billion. The resort has 67 rooms and can be extended to 150 rooms. He said that the additional rooms will be prepared soon. He added that he has worked in the tourism sector of Nepal and now he is entering the hospitality sector by bringing the resort into operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Jain, who founded the Hilltech company in 1992, built a huge statue of Lord Shiva in Sanga in 2011. He said the resort is being operated in the same locality.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort built on 25 ropanis in Sanga will also be managed by Fortune Hotel of India. Industry, Commerce and Supply Minister Damodar Bhandari inaugurated the resort on Tuesday. Jain claims that the resort's spa is the best in Nepal. In the inaugural program, the Managing Director of Fortune Hotel Sameer MC said that they are excited to start the first branch in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said that Nepal is the first choice of tourists who are looking for exciting experiences such as cultural heritage and natural beauty. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We will bring the facilities of Fortune Hotels to Nepal," he said. In the program, Jain said that the concept of a peaceful resort will further strengthen the spa experience of tourists coming to Nepal. The resort has ample rooms, cottages and suites decorated with modern decor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort has facilities like a spa, relaxing treatment room, therapy room, sauna, steam room, gym, and swimming pool with a pleasing view. Jain said that the resort, which has three large banquets, will also be developed as a wedding destination. The resort also has a separate area for parties and meetings.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20592', 'image' => '20240501015328_hhh.jpg', 'article_date' => '2024-05-01 13:51:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20863', 'article_category_id' => '1', 'title' => 'G7 Agrees to Phase Out Coal-Fired Power Plants by Mid-2030s ', 'sub_title' => '', 'summary' => 'May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven two-day meeting in Turin is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 commits to "phase out existing unabated coal power generation in our energy systems during the first half of 2030s," the final statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However it left some wiggle room, saying nations could follow "a timeline consistent with keeping a limit of 1.5°C temperature rise within reach, in line with countries' net zero pathways". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Negotiations over a fixed date were reportedly tricky, with Japan -- which relies heavily on coal -- reluctant to commit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2015 Paris Agreement saw countries agree to cap global warming at "well below" 2C above preindustrial times -- with a safer limit of 1.5C if possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To keep the 1.5C limit in play, the UN's climate expert panel has said emissions need to be slashed almost in half this decade, but they continue to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France's Ecological Transition Minister Christophe Bechu said the commitment "shows the determination to implement the transition away from fossil fuels decided at COP28". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi from the Italian climate think tank ECCO said the G7 had taken a "decisive step forward" in translating the Dubai agreement into national policies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the Climate Analytics policy institute said "2035 is too late". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Many of these countries have already publicly committed to phase out dates ahead of 2030, and only have a small amount of coal capacity anyway," Jane Ellis, head of climate policy, said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 ministers also tackled the thorny issue of plastic pollution amid a heated debate over how to design a treaty addressing the scourge -- by reducing production or boosting recycling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministers said they "aspired" to reduce and if necessary restrain the global production of plastic". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plastic waste is now found everywhere from the summits of mountains to the ocean floor and in human blood and breast milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 "aspiration" comes as a fourth and penultimate round of UN-led negotiations to solve global plastic pollution wrapped up in Ottawa with a world-first pact said to be within reach by year's end -- but without a cap on the production of polymers. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20590', 'image' => '20240501124703_202404149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-05-01 12:46:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20861', 'article_category_id' => '1', 'title' => ''Issues Raised in Investment Summit to be Immediately Taken into Action' ', 'sub_title' => '', 'summary' => 'May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu 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"">May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to execute the issues raised in the two-day summit that was held on Sunday and Monday under the aegis of the Investment Board and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investment Board's Chief Executive Officer and Member-Secretary of Nepal Investment Summit 2024 Direction Committee, Sushil Bhatta, made a commitment for moving ahead with routine follow-up mechanism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will seek a sealed proposal for 12 projects for which deals were signed during the summit. We have already published a notice on Sunday giving a deadline of 45 days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta claimed that Nepal has succeeded in conveying the message that it has created a conducive and competitive environment for the promotion of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the projects showcased in the third investment summit received immense interest from businessmen, entrepreneurs and investors from all over the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta said Nepal has been able to present itself as an attractive investment destination by showcasing potential projects in the areas of energy, information technology, tourism and infrastructure. Similarly, domestic investors have also said that an investment-friendly environment is being created in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal said the conference was successful. "Some of the commitments made in the previous investment conclaves could not be implemented due to lack of follow-up," he said, adding, "The summit has given investors hope that there is an investment opportunity in Nepal and can give good profits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal said that the ordinance issued after the start of the Third Investment Summit was an attempt to encourage the private sector. "We had suggested to the government to amend particular laws to enable environment for investment," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investors and development partners coming from India, China, the US and other countries said there is a possibility of investment in Nepal. This has also sent a very positive message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the investors were keen to invest in Nepal's hydropower, tourism, agriculture and information technology sectors. He also said that the commitment made by all political parties in the investment summit has given an important message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, it is now necessary for the government to follow-up on the investors who have made investment commitments and to draft regulations and procedures. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20588', 'image' => '20240501111139_investment summit.jpg', 'article_date' => '2024-05-01 11:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20860', 'article_category_id' => '1', 'title' => 'NOC Slashes Price of Diesel and Kerosene', 'sub_title' => '', 'summary' => 'May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. The prices of diesel and kerosene have been each decreased by Rs 2 per liter with effect from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the price adjustment, the NOC has fixed the price of diesel/kerosene at Rs 156.50 paisa per liter for the areas that fall under the first category, Rs 158 per liter for the second and Rs 159 per liter for the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category includes Charali, Biratnagar, Janakpur, Amlekhganj, Bhalbari, Nepalgunj, Dhangadhi and Birgunj while the second category includes Surkhet and Dang while Kathmandu, Pokhara and Dipayal fall under the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category areas lie near the border areas and therefore the cost of fuel is less while the third category areas are away from the border and incurs additional transportation charges.</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"">NOC is solely dependent on Indian Oil Corporation for the supply of petroleum products and fixes the prices of petroleum products based on the list provided by the IOC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NOC has increased aviation turbine fuel (ATF) for domestic flights by Re 1 per liter and for international flights by US$ 7 per kilolitre. As a result, the price of aviation fuel for domestic flights has reached Rs 137 per liter and the price of aviation fuel for international flights has climbed to US$ 1.042 per liter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The price of petrol and LPG (or cooking gas) remains unchanged, said NOC spokesperson Manoj Thakur. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20587', 'image' => '20240501103419_20240316105907_petroo - Copy.jpg', 'article_date' => '2024-05-01 10:33:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20859', 'article_category_id' => '1', 'title' => 'NSO Projects Economic Growth Rate of 3.54 Percent in Current FY ', 'sub_title' => '', 'summary' => 'May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. ', 'content' => '<p><span style="font-size:18px">May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. The figure is a sharp decline from the government’s target of achieving 6 percent economic growth as per the announcement made in the budget of the current fiscal year.</span></p> <p><span style="font-size:18px">The NSO made the projection on Tuesday while unveiling the Annual National Accounts Statistics for the fiscal year 2080/81. <br /> However, the NSO said that economic activities in the country are expected to accelerate compared to the first and second quarters of the current FY. <br /> Issuing a press statement, the NSO said that the size of the country’s economy will grow to Rs 5705 billion in the current fiscal year. The size of the country's economy was Rs 5348 billion in the last fiscal year, the NSO stated. <br /> According to the NSO, the growth rate of agriculture, forestry and fishery sector will be 3.05 percent while the growth rate of the non-agriculture sector will be 3.75 percent. <br /> Likewise, the primary sector will witness a growth rate of 3 percent while the growth of the secondary sector will be limited to 1.2 percent and the tertiary sector will have a better growth rate of 4.5 percent in the current fiscal year. <br /> The NSO has projected that the nominal per capita in GNI will be US dollars 1,456 and the per capita in GNDI will be US dollars 1,843. -- RSS </span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20586', 'image' => '20240501101641_20240430085457_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-01 10:14:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20858', 'article_category_id' => '1', 'title' => 'May Day Being Observed', 'sub_title' => '', 'summary' => 'International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. ', 'content' => '<p><span style="font-size:20px">May 1: International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. </span></p> <p><span style="font-size:20px">Labour Day has its roots in the late nineteenth-century labour movement, when workers battled for improved working conditions, advocating an eight-hour workday and fair salaries.</span></p> <p><span style="font-size:20px">Many businesses and government offices are closed as the government has declared it a public holiday to observe the May Day. </span></p> <p><span style="font-size:20px">Trade unions and workers' associations organize various programs and events to commemorate the day and highlight the importance of workers' rights and achievements. </span><br /> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20585', 'image' => '20240501090458_collage (68).jpg', 'article_date' => '2024-05-01 09:03:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20856', 'article_category_id' => '1', 'title' => 'IME Group, PT PLN Nusantara Power Join Hands to Explore Power Development Opportunities in Nepal', 'sub_title' => '', 'summary' => 'April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The Memorandum of Understanding (MoU) was inked by Chandra Prasad Dhakal, Chairman of IME Group, and Muhamad Reza, Director of PT. PLN Nusantara Power representing their respective organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under this collaboration, PT PLN Nusantara Power Services, a subsidiary of PT Nusantara Power, will embark on thorough studies and coordinate endeavors to identify and nurture renewable energy prospects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">With a steadfast commitment to clean energy solutions, the partnership aims to harness Indonesian expertise in the renewable energy sector to enhance Nepal's energy landscape.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Established in 2001, PT PLN Nusantara Power Services boasts specialization in operating and maintaining power plants, with a commendable track record both domestically and internationally. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The company's stellar reputation for excellence has propelled its expansion into countries like Singapore, Malaysia, Kuwait, China, and Saudi Arabia.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Chairman Dhakal voiced optimism about the partnership, highlighting the potential of the MoU to unlock opportunities in Nepal's renewable energy sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">He underscored the significance of leveraging Indonesian expertise to propel sustainable development and address Nepal's burgeoning energy demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">IME Group, a diversified conglomerate with interests spanning various sectors such as hydropower, banking, insurance, tourism, manufacturing, infrastructure, and information technology, is committed to fostering innovation and sustainable growth across industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This collaboration with PT PLN Nusantara Power, which has successfully generated 23,000MW of power to date, underscores IME Group's unwavering dedication to these goals.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20583', 'image' => '20240430070024_IMG-20240430-WA0000.jpg', 'article_date' => '2024-04-30 18:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20855', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses Resistance of 2000-Point with Turnover of Rs 4.80 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week, on Tuesday. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">April 30: The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week on Tuesady. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout today’s trading session, 320 different scrips were traded through 75,271 transactions. A total of 11,828,150 shares changed their hands, resulting in a total turnover of Rs 4.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shine Resunga Development Bank Limited (SHINE) emerged as a key player, leading the market with a turnover of Rs 18 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Corporate Development Bank Limited (CORBL) saw the most substantial increase, soaring by 10% to close at Rs 486 per share.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Conversely, Pokhara Finance Limited (PFL) faced the steepest decline, losing 7.18% to end at Rs 679 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in green territory except Finance Index. The Development Bank Index experienced the highest surge, climbing by 4.90%, while the Finance Index suffered a loss of 1.18%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20582', 'image' => '20240430035747_collage (2).jpg', 'article_date' => '2024-04-30 15:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '20854', 'article_category_id' => '1', 'title' => 'Kathmandu Tops List of World’s Most Polluted Cities, Government urges People to Wear Masks', 'sub_title' => '', 'summary' => 'April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. Describing the air quality in the federal capital as among the most unhealthy globally, the ministry has advised the citizens to wear masks as a protective measure against pollution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Prakash Budhathoki, spokesperson for the ministry, stressed the importance of minimizing outdoor activities, avoiding unnecessary travel, and steering clear of heavily polluted areas due to the elevated levels of air pollutants in Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Citing the 'World Air Quality Index-Ranking', which ranks Kathmandu's air quality as the highest in terms of unhealthiness worldwide, Budhathoki said, “Air pollution impacts health causing cardiovascular issues, respiratory ailments like asthma, increases cancer risk, and other health complications.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mostly children under five years old, pregnant women, chronically ill people and the elderly account for high number of annual deaths due to air pollution in Nepal. Air pollution has reduced the average life expectancy of Nepalese by 4.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Budhathoki reiterated that numerous studies and data affirm air pollution as a primary contributor to illness and mortality rates in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the looming threat of heatwaves and heatstroke in the Terai region during the summer, the ministry has also urged people to limit unnecessary outdoor activities during daylight hours, increase fluid intake, and consume liquid-based foods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the ministry has observed a rise in admission of patients in hospitals and healthcare facilities nationwide coinciding with the escalating summer temperatures. -- RSS</span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20581', 'image' => '20240430035431_20240409100244_20230417022531_1681719143.tuhalo.jpg', 'article_date' => '2024-04-30 15:53:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20853', 'article_category_id' => '1', 'title' => 'Import of Chemical Fertilizers from India Stands at 3 Percent of the 5-Year Target of 935,000 Tons', 'sub_title' => '', 'summary' => 'April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. However, the Ministry of Agriculture says that the supply of chemical fertilizers from India stands slightly more than 3 percent of the five-year target. Farmers have been facing severe shortage of chemical fertilizers every year, especially during the farming season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Ministry of Agriculture and Livestock Development of Nepal and India's Ministry of Chemicals and Fertilizers had signed an agreement on February 28, 2022 with the latter committing to supply 935,000 metric tons of chemical fertilizers to Nepal over 5 years. So far, India has supplied only 30,000 metric tons of urea under the deal, with an additional 25,000 tons of DAP in the process of being imported.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal was supposed to receive 100,000 metric tons of urea and 50,000 tons of DAP in fiscal year 2078/79, followed by 100,000 tons of urea and 60,000 tons of DAP in fiscal year 2079/80. The current target for the year 2080/81 was to supply 115,000 tons of urea and 80,000 tons of DAP. However, with two and a half months remaining in the current fiscal year, it seems unlikely that the fertilizer will be supplied as per the commitment. The agreement stipulates that India will supply 120,000 tons of urea and 90,000 tons of DAP to Nepal in the years 2081/82 and 2082/83.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"We have not been able to create a suitable environment to import fertilizers based on the Government-to-Government (G2G) agreement," said Dr Govind Prasad Sharma, secretary of the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The state-owned Agricultural Inputs Company Limited has been tasked with importing fertilizer under the G2G agreement. Bishnu Prasad Pokharel, the company's managing director, admitted that they could not deliver the fertilizer on time as per the contract due to weaknesses in systems of both the governments of Nepal and India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Under the G2G process, India buys fertilizer from other countries and supplies it to Nepal. "India proposed this process only while finalizing the G2G agreement, leading to delays in the procurement process," Pokharel explained.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pokharel further noted that India initially requested advance payment, but Nepal could not provide it, causing delays. "Previously, Nepal was expected to receive up to 25,000 tons of fertilizer after making an advance payment for 5,000 tons," Pokharel stated. "However, now 100 percent of the payment must be made four months in advance."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, disruptions in the supply system due to the COVID-19 pandemic caused chemical fertilizer prices to rise. Additionally, the conflict between Russia and Ukraine further exacerbated the price hike, as Russia is one of the world's largest exporters of chemical fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">International media reports indicate that the price of chemical fertilizers has increased by 300 percent due to supply risks after the outbreak of the war. Government officials assert that despite the price surge, Nepal lacks the necessary conditions to import fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the international market price for both urea and DAP was over a thousand dollars per ton. Currently, the price of urea in the international market is around 300 US dollars per ton, while DAP is approximately 580 USD per ton, according to the Agricultural Inputs Company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Although fertilizer prices have decreased in the international market, the supply remains insufficient. Currently, the Salt Trading Corporation and Agricultural Inputs Company have 75,966 tons of urea, 16,835 tons of DAP, and 6,234 tons of potash.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Government estimates suggest that Nepal's annual demand for chemical fertilizers is about 700,000 metric tons. Due to limited stock and supply, there are concerns of a fertilizer shortage before the planting of the annual crop this year as well. However, in a press conference held by the Ministry of Agriculture two weeks ago, the government announced that an additional 88,000 metric tons of fertilizer are expected to arrive. "Nearly 600,000 tons of chemical fertilizers have been tendered," Secretary Sharma confirmed. "Therefore, there will be no shortage of fertilizer this year."</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20580', 'image' => '20240430034141_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-04-30 15:40:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20851', 'article_category_id' => '1', 'title' => 'Government Fails to Expedite Labour Agreements with European Countries', 'sub_title' => '', 'summary' => 'April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Labour, Employment, and Social Security informed that the government has signed labor agreements with Britain, Germany, and Romania in Europe. As of now, Nepal has signed labor agreements with 12 countries including the three European countries, the ministry reported. Other major countries with labor agreements include those in the Gulf, Malaysia, South Korea, and Japan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has expressed its intention to initiate labor agreements with more European countries. However, the government has not made tangible achievements yet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Govinda Prasad Rijal, Joint Secretary at the Ministry of Labour, Employment, and Social Security, stated that discussions are ongoing for labor agreements with Turkey, Portugal, Poland, Cyprus, Malta, and other countries. "We are working to submit the draft for the labor agreement through diplomatic channels," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Preparations are being made to send Nepali workers to work in fields related to ships and cruises, particularly in Turkey. Officials indicate that the government is actively lobbying to send Nepalese workers to Cyprus, Poland, and other countries for employment in construction and agriculture sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite signing labour agreements with some countries, government officials acknowledge challenges in properly facilitating the deployment of workers. "We have not been able to send workers to some countries as expected despite signing agreements. We are streamlining procedures to facilitate this process,” Rijal said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Data reveals that Croatia, Malta, Cyprus, Poland, the UK, and other countries are major labor destinations for Nepalese workers in Europe. According to the Department of Foreign Employment, the number of workers migrating to these countries stood at 20,000 in the fiscal year 2078/79, which increased to 37,000 in 2079/80. As of mid-December of the current fiscal year, 23,655 Nepalis have obtained work permits and migrated to various European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts emphasize that a significant number of Nepalis engage in labor migration to these countries, including those who initially travel on tourist visas or for study. They point out that the absence of labor agreements with some European countries is causing problems for many Nepali workers such as exploitation and difficulty securing employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign employment expert Dr Ganesh Gurung states that the government should exert maximum effort to establish labor agreements with European countries through diplomatic channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it appears that the government has not been sufficiently proactive in this regard," he said. Gurung believes that due to the government’s apathy, potential labor agreements with countries that could greatly benefit Nepal are being overlooked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Britain became the first European country to sign a labor agreement with Nepal in August 2079, primarily focusing on recruiting Nepali nurses. Subsequently, agreements were signed with Germany and Romania in October 2080. Government officials report that Germany has yet to determine the sectors in which Nepali workers will be employed. Romania expressed the need for Nepali workers in construction, service, hospitality, and agriculture sectors. Currently, Nepali workers are being employed in Romania as security guards, drivers, chefs, construction workers, and in the readymade garment industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To reduce dependency on Gulf countries for foreign employment, the government established a task force under the coordination of former ambassador Uday Raj Pandey. The task force recommended exploring new destination countries, particularly in Europe, such as Portugal, the Czech Republic, Romania, Poland, Sweden, Denmark, and others, for Nepali labourers. The task force suggested that these countries could offer favorable opportunities for Nepali workers due to high demand in service, agriculture, and production sectors. It emphasized that the relatively strong economic status of European countries makes them potential new destinations for foreign employment. However, the government has not effectively implemented the task force's recommendations, with the report remaining gathering dust for an extended period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20578', 'image' => '20240430015615_20231005094916_ed - Copy.jpg', 'article_date' => '2024-04-30 13:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20850', 'article_category_id' => '1', 'title' => 'G7 holds 'Strategic' Talks in Climate Hotspot Italy ', 'sub_title' => '', 'summary' => 'April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven meeting in the northern Italian city is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It comes as a new report by a global climate institute shows the G7 is falling far short of its targets. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Hundreds of protesters demonstrated in Turin on Sunday, some burning photos of the G7 leaders as they accused them of failing future generations over the climate crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rome, which holds the G7 rotating presidency, says it wants Turin to be "a strategic link" between last year's Conference of Parties in Dubai and COP29, which will take place in November in Azerbaijan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aim is "to make the course set out by COP28 practical, real, concrete," Italian Environment and Energy Security Minister Gilberto Pichetto Fratin said ahead of the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Italy, a climate change hotspot vulnerable to wildfires, drought and glacier retreat, is putting "biodiversity, ecosystems, warming seas" high on the agenda, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Delegations from Dubai and Azerbaijan are in Turin, as well as from Brazil, which hosts the G20 this year. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Innovative'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment ministers from the G7, which includes Canada, France, Germany, Japan, the UK and the US, will meet for four working sessions over two days at the 17th century Palace of Venaria. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environmentalists want to know how they intend to follow through on pledges such as the agreement in Dubai to double energy efficiency rates and triple renewable capacity by 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The talks will stress the need to diversify sources of critical materials key to renewable energy systems, as well as minerals reuse, in a bid to stop overreliance on China, which dominates in green technologies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy says rare earths and renewables will be part of discussions with African delegations invited to Turin. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Canada, France, Germany and the UK are pushing for a global treaty to reduce plastics pollution, and are expected to use the G7 to rally a reluctant US and Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate watchers hope for a ramping up of support for less developed countries in decarbonising their industrial production, with experts advising on particularly tricky sectors, like cement and steel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There may be commitments on more funds for adaptation to climate change, and Italy said the G7 would discuss "innovative" financing models amid calls for more accessible finance for vulnerable countries. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Watched closely'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Together the G7 makes up around 38 percent of the global economy and was responsible for 21 percent of total greenhouse gas emissions in 2021, according to the Climate Analytics policy institute. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Not one member of the group is on track to meet existing emission reduction targets for 2030, managing instead to cut them by "at best around half of what is needed", a report by the institute said last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The US finalised sweeping plans Thursday to curb emissions from fossil fuel plants, giving existing coal plants until 2032 to reduce their carbon dioxide output by 90 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France is expected to push for the G7 to phase out coal by 2030, but Japan is reluctant to set a date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Germany -- Europe's biggest emitter of greenhouse gases -- is unwilling to wean off gas, as is Italy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy's far-right Prime Minister Giorgia Meloni has vowed repeatedly to transform Italy into a gas hub for Europe, seeking new suppliers in the Mediterranean and Africa and expanding gas infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi, founder of Italian climate think tank ECCO, questioned Italy's claim that gas was essential for its energy security, and said its interest in nascent technologies such as nuclear fusion is misguided. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">G7 decisions "have a big impact on the markets and on the ideas and expectations of investors", and Italy's stewardship in Turin "will be watched closely", he said. – AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20577', 'image' => '20240430012001_GettyImages-1143968019-b9eaada3149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-04-30 13:19:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20849', 'article_category_id' => '1', 'title' => '21.7 Per Cent Industries Still do not Pay Minimum Wage: GEFONT Report ', 'sub_title' => '', 'summary' => 'April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The General Federation of Nepalese Trade Unions (GEFONT), a labour union affiliated with the CPN-UML, unveiled the Labour Audit Report- 2080 BS in a press conference on Monday, which revealed the startling facts about the condition of labourers and daily wage earners in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has determined Rs 17,300 per month as the minimum wage in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the situation of implementation of minimum wages and facilities for the workers was becoming critical in the country. Much to the dismay, situation of implementation of minimum wage in industrial enterprises, where the union is active, is not much rosy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finding of the GEFONT, 15.30 per cent industrial establishments had not paid their workers minimum wage in 2079 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 72.6 per cent companies were found not paying minimum wage and overtime perks to workers hired through labour outsourcing companies in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploitation of the labourers is approaching towards a critical point, cautioned the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the Labour Act-2074 BS stipulates that the workers cannot be forced to work for more than eight hours a day and 48 hours a week, it is far from effective implementation, the report lamented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the scenario of child labour paints a slightly brighter picture as per the report. The industries employing children as workers were decreasing lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2079 BS, the industries using child labour was 0.75 per cent which reduced to 0.6 percent in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the press conference, GEFONT's President Binod Shrestha read out a 25-point declaration prepared by the union in the context of the upcoming May Day (International Labour Day on May 1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The union has been complaining with the government regarding lax implementation of the Labour Act-2074 BS which aims to secure the welfare of the workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the 25-point declaration, the union demanded an orientation session for the labourers about social security fund. It also underscored strict implementation of the minimum wage provision and removal of the provision of not filing the case against forceful transfer in the labour court among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Working Journalist Association's Chairperson Janmadev Jaisi argued that the syndicate system in the industry and political instability had caused economic crisis in the country which, according to him, had hit the daily wagers the hardest. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20576', 'image' => '20240430115446_shutterstock_707531416-1.jpg', 'article_date' => '2024-04-30 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20848', 'article_category_id' => '1', 'title' => 'Investment Summit Concludes with Signing of Important Agreements ', 'sub_title' => '', 'summary' => 'April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country. The notable participation of domestic and foreign investors, along with some significant outcome has conveyed the message that Nepal is an attractive destination for investment, said Chief Executive Officer of Investment Board Nepal (IBN), Sushil Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"During the two-day investment summit, about a dozen agreements have been signed with memorandums of understandings to advance the concept of public-private partnership. In addition, more than 30 foreign delegations have had separate meetings with the ministers of various related ministries," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first day of the summit saw signing of three agreements. An agreement was signed between BLC Group Nepal and Yotta Data Services Private Limited India for collaboration in data center construction and operation. The agreement was signed by BLC Group’s Managing Director Megha Chaudhary and Yotta Chief Executive Officer Sunil Gupta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The second agreement signed on Sunday was between the Federation of Nepalese Chambers of Commerce and Industry and the National Chamber of Commerce, Malaysia regarding collaboration and cooperation for the promotion of bilateral trade and investment. FNCCI President Chandra Prasad Dhakal and National Chamber of Commerce and Industry of Malaysia (NCCIM)’s President Tan Sri Son Thain Lai signed the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the FNCCI has also signed an agreement of cooperation with the Federation of Malaysian Manufacturers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, on the second day of the summit, a bilateral cooperation agreement was reached between the World Association of PPP Units and Professionals (WAPPP) and the Nepal Association of PPP Professionals of Practitioners (NAP) for the promotion of Public-Private Partnership (PPP) in Nepal. The MoU was signed by President Ziad Alexandre Hayek on behalf of WAPPP and President Anup Kumar Upadhyay, on behalf of NAP. As per the MoU both organizations will collaborate on matters of common interest, exchange knowledge and experience related to public-private partnership, and promote international best practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An agreement on cooperation and collaboration in hotel business was signed between Sakha Group of Nepal and Bor Group of Hotel China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two MoUs have been signed to bring in investment from Chinese companies through the private sector of Nepal. Separate MoUs was signed between Nepal's NexGen Management Solutions Private Limited and China's MABC Investment Private Limited as well as FNCCI and China's Donggaun Jinyang Lighting Product Company Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Third Investment Summit also ensured Australian investment to open a modern resort at Rara lake area of Mugu district. Expert Group of Australia would invest in the resort. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An MoU for the investment collaboration was signed by Badri Aryal and Sanjeev Sharma on behalf the Expert Group and by Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Federation of Nepalese Industries and Commerce (FNIC) and the Indian Industries Association (IIA) inked an MoU for a bilateral cooperation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNIC president Khim Lal Bhandari and IIA chairperson Anuj Kumar Garg signed the MoU on behalf of their respective sides. The MoU aims to promote cooperation and mutual interests in investment, trade, and industrial development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, during the summit, investment worth Rs 9.13 billion has been approved by the Department of Industry for four different projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shankar Singh Dhami, Director at the Foreign Investment and Technology Transfer Section of the Department, shared that Rs 6 billion has been approved to set up an investment company in Bhaktapur and Rs 3 billion to establish a commercial building complex in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, an investment of Rs 76 million for construction of hydropower project of 200 KW capacity has been endorsed for which Eccles Energy Limited (the UK) will have 85 per cent investment and Mohanyal rural municipality in Kailali district will bear the remaining 15 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 62 million has been approved for constructing hotels and restaurants in Lalitpur district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Department launched a system that approves foreign investment through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department inaugurated the system of foreign investment approval through the automated system on Monday, the second and last day of the summit. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the system effective from April 29 and receive the letter of approval of foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, agreement has been inked for operating remit hydro power projects utilizing the remittance for hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the second day of the summit, an agreement was inked among the Hydro Electricity Investment and Development Company Limited and Non-Resident Nepali Association and National Coordination Council for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Bhatta (Qatar), Raj Kumar Shrestha (Bahrain), Binod Thapa (Malaysia), Binod Shrestha (Iraq), Bikash Shahi (UAE), Bikal Jha (Oman) and Tikaram Kharel (Japan) signed the agreement on the behalf of the council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another agreement was signed between the Nepal Chamber of Commerce and delegates from Croatia for trade facilitation and facilitation for investment in tourism sector. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20575', 'image' => '20240430112353_investment summit.jpg', 'article_date' => '2024-04-30 11:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20847', 'article_category_id' => '1', 'title' => 'Third Investment Summit-2024 was Successful: Finance Minister', 'sub_title' => '', 'summary' => 'Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a meeting with ambassadors, along with representatives from the World Bank, Asian Development Bank, International Monetary Fund, and United Nations Development Programme, Minister Pun reiterated that the summit was a great success.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Highlighting participation of development partners in the investment summit, Pun argued that presence of development partners, investors, and stakeholders confirmed the success of the summit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The presence of representatives of various countries and development partners at the investment summit confirms Nepal as an excellent destination for investment,” the minister asserted.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the meeting, the minister expressed commitment to further enhancing cooperation with development partners in the coming days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"Nepal is an outstanding and attractive destination for investment, and there are ample investment opportunities here in energy, tourism, information technology, agriculture, and infrastructure projects,” he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun shared that Nepal was developing capacities to transition from least developed to developing country. He highlighted significant opportunities for both domestic and foreign investment in Nepal due to its strategic location between China and India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20574', 'image' => '20240430054935_collage (67).jpg', 'article_date' => '2024-04-30 05:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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' => '20865', 'article_category_id' => '1', 'title' => 'Hitech Group Invests Rs 1 Billion to Set Up Fortune Resort ', 'sub_title' => '', 'summary' => 'May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">May 1: Hitech Group, which has been manufacturing products ranging from water tanks to CPVC plastic pipes, gas geysers, and heaters, has recently diversified its portfolio by venturing into the hospitality sector. This expansion includes a significant investment in a resort operating under the esteemed 'Fortune' brand, managed by Fortune Park Hotel Limited, a distinguished member of the renowned ITC Hotel Group in India.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Group’s Chairman Kamal Jain informed New Business Age that the group inaugurated the Fortune Resort and Wellness Spa in Sanga, Bhaktapur on Tuesday. He said that the resort was brought into operation with an investment of more than Rs 1 billion. The resort has 67 rooms and can be extended to 150 rooms. He said that the additional rooms will be prepared soon. He added that he has worked in the tourism sector of Nepal and now he is entering the hospitality sector by bringing the resort into operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Jain, who founded the Hilltech company in 1992, built a huge statue of Lord Shiva in Sanga in 2011. He said the resort is being operated in the same locality.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort built on 25 ropanis in Sanga will also be managed by Fortune Hotel of India. Industry, Commerce and Supply Minister Damodar Bhandari inaugurated the resort on Tuesday. Jain claims that the resort's spa is the best in Nepal. In the inaugural program, the Managing Director of Fortune Hotel Sameer MC said that they are excited to start the first branch in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He said that Nepal is the first choice of tourists who are looking for exciting experiences such as cultural heritage and natural beauty. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We will bring the facilities of Fortune Hotels to Nepal," he said. In the program, Jain said that the concept of a peaceful resort will further strengthen the spa experience of tourists coming to Nepal. The resort has ample rooms, cottages and suites decorated with modern decor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The resort has facilities like a spa, relaxing treatment room, therapy room, sauna, steam room, gym, and swimming pool with a pleasing view. Jain said that the resort, which has three large banquets, will also be developed as a wedding destination. The resort also has a separate area for parties and meetings.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20592', 'image' => '20240501015328_hhh.jpg', 'article_date' => '2024-05-01 13:51:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20863', 'article_category_id' => '1', 'title' => 'G7 Agrees to Phase Out Coal-Fired Power Plants by Mid-2030s ', 'sub_title' => '', 'summary' => 'May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: G7 energy and climate ministers agreed a time frame Tuesday for phasing out coal-fired power plants that are not equipped to capture emissions in a significant step towards curbing fossil fuel use. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven two-day meeting in Turin is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 commits to "phase out existing unabated coal power generation in our energy systems during the first half of 2030s," the final statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However it left some wiggle room, saying nations could follow "a timeline consistent with keeping a limit of 1.5°C temperature rise within reach, in line with countries' net zero pathways". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Negotiations over a fixed date were reportedly tricky, with Japan -- which relies heavily on coal -- reluctant to commit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 2015 Paris Agreement saw countries agree to cap global warming at "well below" 2C above preindustrial times -- with a safer limit of 1.5C if possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To keep the 1.5C limit in play, the UN's climate expert panel has said emissions need to be slashed almost in half this decade, but they continue to rise. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France's Ecological Transition Minister Christophe Bechu said the commitment "shows the determination to implement the transition away from fossil fuels decided at COP28". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi from the Italian climate think tank ECCO said the G7 had taken a "decisive step forward" in translating the Dubai agreement into national policies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">But the Climate Analytics policy institute said "2035 is too late". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Many of these countries have already publicly committed to phase out dates ahead of 2030, and only have a small amount of coal capacity anyway," Jane Ellis, head of climate policy, said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 ministers also tackled the thorny issue of plastic pollution amid a heated debate over how to design a treaty addressing the scourge -- by reducing production or boosting recycling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministers said they "aspired" to reduce and if necessary restrain the global production of plastic". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plastic waste is now found everywhere from the summits of mountains to the ocean floor and in human blood and breast milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The G7 "aspiration" comes as a fourth and penultimate round of UN-led negotiations to solve global plastic pollution wrapped up in Ottawa with a world-first pact said to be within reach by year's end -- but without a cap on the production of polymers. – AFP/RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20590', 'image' => '20240501124703_202404149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-05-01 12:46:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20861', 'article_category_id' => '1', 'title' => ''Issues Raised in Investment Summit to be Immediately Taken into Action' ', 'sub_title' => '', 'summary' => 'May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu 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"">May 1: The government has pledged to immediately implement the key issues raised in the Third Nepal investment summit that concluded in Kathmandu on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to execute the issues raised in the two-day summit that was held on Sunday and Monday under the aegis of the Investment Board and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investment Board's Chief Executive Officer and Member-Secretary of Nepal Investment Summit 2024 Direction Committee, Sushil Bhatta, made a commitment for moving ahead with routine follow-up mechanism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We will seek a sealed proposal for 12 projects for which deals were signed during the summit. We have already published a notice on Sunday giving a deadline of 45 days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta claimed that Nepal has succeeded in conveying the message that it has created a conducive and competitive environment for the promotion of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, the projects showcased in the third investment summit received immense interest from businessmen, entrepreneurs and investors from all over the world. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bhatta said Nepal has been able to present itself as an attractive investment destination by showcasing potential projects in the areas of energy, information technology, tourism and infrastructure. Similarly, domestic investors have also said that an investment-friendly environment is being created in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal said the conference was successful. "Some of the commitments made in the previous investment conclaves could not be implemented due to lack of follow-up," he said, adding, "The summit has given investors hope that there is an investment opportunity in Nepal and can give good profits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal said that the ordinance issued after the start of the Third Investment Summit was an attempt to encourage the private sector. "We had suggested to the government to amend particular laws to enable environment for investment," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Investors and development partners coming from India, China, the US and other countries said there is a possibility of investment in Nepal. This has also sent a very positive message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said the investors were keen to invest in Nepal's hydropower, tourism, agriculture and information technology sectors. He also said that the commitment made by all political parties in the investment summit has given an important message. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, it is now necessary for the government to follow-up on the investors who have made investment commitments and to draft regulations and procedures. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20588', 'image' => '20240501111139_investment summit.jpg', 'article_date' => '2024-05-01 11:10:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20860', 'article_category_id' => '1', 'title' => 'NOC Slashes Price of Diesel and Kerosene', 'sub_title' => '', 'summary' => 'May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 1: Nepal Oil Corporation (NOC) has reduced the prices of diesel and kerosene. The prices of diesel and kerosene have been each decreased by Rs 2 per liter with effect from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the price adjustment, the NOC has fixed the price of diesel/kerosene at Rs 156.50 paisa per liter for the areas that fall under the first category, Rs 158 per liter for the second and Rs 159 per liter for the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category includes Charali, Biratnagar, Janakpur, Amlekhganj, Bhalbari, Nepalgunj, Dhangadhi and Birgunj while the second category includes Surkhet and Dang while Kathmandu, Pokhara and Dipayal fall under the third category. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The first category areas lie near the border areas and therefore the cost of fuel is less while the third category areas are away from the border and incurs additional transportation charges.</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"">NOC is solely dependent on Indian Oil Corporation for the supply of petroleum products and fixes the prices of petroleum products based on the list provided by the IOC.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The NOC has increased aviation turbine fuel (ATF) for domestic flights by Re 1 per liter and for international flights by US$ 7 per kilolitre. As a result, the price of aviation fuel for domestic flights has reached Rs 137 per liter and the price of aviation fuel for international flights has climbed to US$ 1.042 per liter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The price of petrol and LPG (or cooking gas) remains unchanged, said NOC spokesperson Manoj Thakur. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20587', 'image' => '20240501103419_20240316105907_petroo - Copy.jpg', 'article_date' => '2024-05-01 10:33:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20859', 'article_category_id' => '1', 'title' => 'NSO Projects Economic Growth Rate of 3.54 Percent in Current FY ', 'sub_title' => '', 'summary' => 'May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. ', 'content' => '<p><span style="font-size:18px">May 1: The National Statistics Office (NSO) has projected the country’s economic growth rate at 3.54 percent in the current fiscal year. The figure is a sharp decline from the government’s target of achieving 6 percent economic growth as per the announcement made in the budget of the current fiscal year.</span></p> <p><span style="font-size:18px">The NSO made the projection on Tuesday while unveiling the Annual National Accounts Statistics for the fiscal year 2080/81. <br /> However, the NSO said that economic activities in the country are expected to accelerate compared to the first and second quarters of the current FY. <br /> Issuing a press statement, the NSO said that the size of the country’s economy will grow to Rs 5705 billion in the current fiscal year. The size of the country's economy was Rs 5348 billion in the last fiscal year, the NSO stated. <br /> According to the NSO, the growth rate of agriculture, forestry and fishery sector will be 3.05 percent while the growth rate of the non-agriculture sector will be 3.75 percent. <br /> Likewise, the primary sector will witness a growth rate of 3 percent while the growth of the secondary sector will be limited to 1.2 percent and the tertiary sector will have a better growth rate of 4.5 percent in the current fiscal year. <br /> The NSO has projected that the nominal per capita in GNI will be US dollars 1,456 and the per capita in GNDI will be US dollars 1,843. -- RSS </span></p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20586', 'image' => '20240501101641_20240430085457_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-01 10:14:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20858', 'article_category_id' => '1', 'title' => 'May Day Being Observed', 'sub_title' => '', 'summary' => 'International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. ', 'content' => '<p><span style="font-size:20px">May 1: International Labour Day is being observed across the country on Wednesday (today). Also known as May Day, this day is dedicated to recognizing and celebrating the contributions of workers and the ongoing struggle of the working class. </span></p> <p><span style="font-size:20px">Labour Day has its roots in the late nineteenth-century labour movement, when workers battled for improved working conditions, advocating an eight-hour workday and fair salaries.</span></p> <p><span style="font-size:20px">Many businesses and government offices are closed as the government has declared it a public holiday to observe the May Day. </span></p> <p><span style="font-size:20px">Trade unions and workers' associations organize various programs and events to commemorate the day and highlight the importance of workers' rights and achievements. </span><br /> </p> ', 'published' => true, 'created' => '2024-05-01', 'modified' => '2024-05-01', 'keywords' => '', 'description' => '', 'sortorder' => '20585', 'image' => '20240501090458_collage (68).jpg', 'article_date' => '2024-05-01 09:03:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20856', 'article_category_id' => '1', 'title' => 'IME Group, PT PLN Nusantara Power Join Hands to Explore Power Development Opportunities in Nepal', 'sub_title' => '', 'summary' => 'April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">April 30: IME Group, a renowned conglomerate in Nepal, has forged a strategic alliance with PT PLN Nusantara Power, the state-owned power company of Indonesia, to delve into renewable energy projects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The Memorandum of Understanding (MoU) was inked by Chandra Prasad Dhakal, Chairman of IME Group, and Muhamad Reza, Director of PT. PLN Nusantara Power representing their respective organizations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Under this collaboration, PT PLN Nusantara Power Services, a subsidiary of PT Nusantara Power, will embark on thorough studies and coordinate endeavors to identify and nurture renewable energy prospects in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">With a steadfast commitment to clean energy solutions, the partnership aims to harness Indonesian expertise in the renewable energy sector to enhance Nepal's energy landscape.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Established in 2001, PT PLN Nusantara Power Services boasts specialization in operating and maintaining power plants, with a commendable track record both domestically and internationally. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The company's stellar reputation for excellence has propelled its expansion into countries like Singapore, Malaysia, Kuwait, China, and Saudi Arabia.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Chairman Dhakal voiced optimism about the partnership, highlighting the potential of the MoU to unlock opportunities in Nepal's renewable energy sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">He underscored the significance of leveraging Indonesian expertise to propel sustainable development and address Nepal's burgeoning energy demands.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">IME Group, a diversified conglomerate with interests spanning various sectors such as hydropower, banking, insurance, tourism, manufacturing, infrastructure, and information technology, is committed to fostering innovation and sustainable growth across industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">This collaboration with PT PLN Nusantara Power, which has successfully generated 23,000MW of power to date, underscores IME Group's unwavering dedication to these goals.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20583', 'image' => '20240430070024_IMG-20240430-WA0000.jpg', 'article_date' => '2024-04-30 18:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20855', 'article_category_id' => '1', 'title' => 'NEPSE Surpasses Resistance of 2000-Point with Turnover of Rs 4.80 Billion', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week, on Tuesday. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">April 30: The Nepal Stock Exchange (NEPSE) marked a significant ascent, surpassing the 2000-point milestone by closing at 2006.28, with a gain of 25.93 points or 1.30% on the third trading day of the week on Tuesady. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout today’s trading session, 320 different scrips were traded through 75,271 transactions. A total of 11,828,150 shares changed their hands, resulting in a total turnover of Rs 4.80 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shine Resunga Development Bank Limited (SHINE) emerged as a key player, leading the market with a turnover of Rs 18 crores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Corporate Development Bank Limited (CORBL) saw the most substantial increase, soaring by 10% to close at Rs 486 per share.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Conversely, Pokhara Finance Limited (PFL) faced the steepest decline, losing 7.18% to end at Rs 679 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in green territory except Finance Index. The Development Bank Index experienced the highest surge, climbing by 4.90%, while the Finance Index suffered a loss of 1.18%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20582', 'image' => '20240430035747_collage (2).jpg', 'article_date' => '2024-04-30 15:56:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '20854', 'article_category_id' => '1', 'title' => 'Kathmandu Tops List of World’s Most Polluted Cities, Government urges People to Wear Masks', 'sub_title' => '', 'summary' => 'April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The Ministry of Health and Population has urged the general public to wear masks due to a surge in air pollution levels in Kathmandu. Describing the air quality in the federal capital as among the most unhealthy globally, the ministry has advised the citizens to wear masks as a protective measure against pollution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Prakash Budhathoki, spokesperson for the ministry, stressed the importance of minimizing outdoor activities, avoiding unnecessary travel, and steering clear of heavily polluted areas due to the elevated levels of air pollutants in Kathmandu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Citing the 'World Air Quality Index-Ranking', which ranks Kathmandu's air quality as the highest in terms of unhealthiness worldwide, Budhathoki said, “Air pollution impacts health causing cardiovascular issues, respiratory ailments like asthma, increases cancer risk, and other health complications.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Mostly children under five years old, pregnant women, chronically ill people and the elderly account for high number of annual deaths due to air pollution in Nepal. Air pollution has reduced the average life expectancy of Nepalese by 4.1 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Budhathoki reiterated that numerous studies and data affirm air pollution as a primary contributor to illness and mortality rates in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the looming threat of heatwaves and heatstroke in the Terai region during the summer, the ministry has also urged people to limit unnecessary outdoor activities during daylight hours, increase fluid intake, and consume liquid-based foods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the ministry has observed a rise in admission of patients in hospitals and healthcare facilities nationwide coinciding with the escalating summer temperatures. -- RSS</span></span></p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20581', 'image' => '20240430035431_20240409100244_20230417022531_1681719143.tuhalo.jpg', 'article_date' => '2024-04-30 15:53:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20853', 'article_category_id' => '1', 'title' => 'Import of Chemical Fertilizers from India Stands at 3 Percent of the 5-Year Target of 935,000 Tons', 'sub_title' => '', 'summary' => 'April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 30: Two years ago, the Government of Nepal had signed an agreement with India to supply about one million metric tons of chemical fertilizers to Nepal within five years. However, the Ministry of Agriculture says that the supply of chemical fertilizers from India stands slightly more than 3 percent of the five-year target. Farmers have been facing severe shortage of chemical fertilizers every year, especially during the farming season.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Ministry of Agriculture and Livestock Development of Nepal and India's Ministry of Chemicals and Fertilizers had signed an agreement on February 28, 2022 with the latter committing to supply 935,000 metric tons of chemical fertilizers to Nepal over 5 years. So far, India has supplied only 30,000 metric tons of urea under the deal, with an additional 25,000 tons of DAP in the process of being imported.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal was supposed to receive 100,000 metric tons of urea and 50,000 tons of DAP in fiscal year 2078/79, followed by 100,000 tons of urea and 60,000 tons of DAP in fiscal year 2079/80. The current target for the year 2080/81 was to supply 115,000 tons of urea and 80,000 tons of DAP. However, with two and a half months remaining in the current fiscal year, it seems unlikely that the fertilizer will be supplied as per the commitment. The agreement stipulates that India will supply 120,000 tons of urea and 90,000 tons of DAP to Nepal in the years 2081/82 and 2082/83.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"We have not been able to create a suitable environment to import fertilizers based on the Government-to-Government (G2G) agreement," said Dr Govind Prasad Sharma, secretary of the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The state-owned Agricultural Inputs Company Limited has been tasked with importing fertilizer under the G2G agreement. Bishnu Prasad Pokharel, the company's managing director, admitted that they could not deliver the fertilizer on time as per the contract due to weaknesses in systems of both the governments of Nepal and India.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Under the G2G process, India buys fertilizer from other countries and supplies it to Nepal. "India proposed this process only while finalizing the G2G agreement, leading to delays in the procurement process," Pokharel explained.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pokharel further noted that India initially requested advance payment, but Nepal could not provide it, causing delays. "Previously, Nepal was expected to receive up to 25,000 tons of fertilizer after making an advance payment for 5,000 tons," Pokharel stated. "However, now 100 percent of the payment must be made four months in advance."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, disruptions in the supply system due to the COVID-19 pandemic caused chemical fertilizer prices to rise. Additionally, the conflict between Russia and Ukraine further exacerbated the price hike, as Russia is one of the world's largest exporters of chemical fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">International media reports indicate that the price of chemical fertilizers has increased by 300 percent due to supply risks after the outbreak of the war. Government officials assert that despite the price surge, Nepal lacks the necessary conditions to import fertilizers.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Two years ago, the international market price for both urea and DAP was over a thousand dollars per ton. Currently, the price of urea in the international market is around 300 US dollars per ton, while DAP is approximately 580 USD per ton, according to the Agricultural Inputs Company.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Although fertilizer prices have decreased in the international market, the supply remains insufficient. Currently, the Salt Trading Corporation and Agricultural Inputs Company have 75,966 tons of urea, 16,835 tons of DAP, and 6,234 tons of potash.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Government estimates suggest that Nepal's annual demand for chemical fertilizers is about 700,000 metric tons. Due to limited stock and supply, there are concerns of a fertilizer shortage before the planting of the annual crop this year as well. However, in a press conference held by the Ministry of Agriculture two weeks ago, the government announced that an additional 88,000 metric tons of fertilizer are expected to arrive. "Nearly 600,000 tons of chemical fertilizers have been tendered," Secretary Sharma confirmed. "Therefore, there will be no shortage of fertilizer this year."</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20580', 'image' => '20240430034141_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-04-30 15:40:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20851', 'article_category_id' => '1', 'title' => 'Government Fails to Expedite Labour Agreements with European Countries', 'sub_title' => '', 'summary' => 'April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 30: The government has made public its intentions to sign labour agreements with European countries, considering them as attractive destinations for foreign employment, but has so far signed such pacts with only three European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Labour, Employment, and Social Security informed that the government has signed labor agreements with Britain, Germany, and Romania in Europe. As of now, Nepal has signed labor agreements with 12 countries including the three European countries, the ministry reported. Other major countries with labor agreements include those in the Gulf, Malaysia, South Korea, and Japan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has expressed its intention to initiate labor agreements with more European countries. However, the government has not made tangible achievements yet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Govinda Prasad Rijal, Joint Secretary at the Ministry of Labour, Employment, and Social Security, stated that discussions are ongoing for labor agreements with Turkey, Portugal, Poland, Cyprus, Malta, and other countries. "We are working to submit the draft for the labor agreement through diplomatic channels," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Preparations are being made to send Nepali workers to work in fields related to ships and cruises, particularly in Turkey. Officials indicate that the government is actively lobbying to send Nepalese workers to Cyprus, Poland, and other countries for employment in construction and agriculture sectors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite signing labour agreements with some countries, government officials acknowledge challenges in properly facilitating the deployment of workers. "We have not been able to send workers to some countries as expected despite signing agreements. We are streamlining procedures to facilitate this process,” Rijal said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Data reveals that Croatia, Malta, Cyprus, Poland, the UK, and other countries are major labor destinations for Nepalese workers in Europe. According to the Department of Foreign Employment, the number of workers migrating to these countries stood at 20,000 in the fiscal year 2078/79, which increased to 37,000 in 2079/80. As of mid-December of the current fiscal year, 23,655 Nepalis have obtained work permits and migrated to various European countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts emphasize that a significant number of Nepalis engage in labor migration to these countries, including those who initially travel on tourist visas or for study. They point out that the absence of labor agreements with some European countries is causing problems for many Nepali workers such as exploitation and difficulty securing employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign employment expert Dr Ganesh Gurung states that the government should exert maximum effort to establish labor agreements with European countries through diplomatic channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, it appears that the government has not been sufficiently proactive in this regard," he said. Gurung believes that due to the government’s apathy, potential labor agreements with countries that could greatly benefit Nepal are being overlooked.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Britain became the first European country to sign a labor agreement with Nepal in August 2079, primarily focusing on recruiting Nepali nurses. Subsequently, agreements were signed with Germany and Romania in October 2080. Government officials report that Germany has yet to determine the sectors in which Nepali workers will be employed. Romania expressed the need for Nepali workers in construction, service, hospitality, and agriculture sectors. Currently, Nepali workers are being employed in Romania as security guards, drivers, chefs, construction workers, and in the readymade garment industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To reduce dependency on Gulf countries for foreign employment, the government established a task force under the coordination of former ambassador Uday Raj Pandey. The task force recommended exploring new destination countries, particularly in Europe, such as Portugal, the Czech Republic, Romania, Poland, Sweden, Denmark, and others, for Nepali labourers. The task force suggested that these countries could offer favorable opportunities for Nepali workers due to high demand in service, agriculture, and production sectors. It emphasized that the relatively strong economic status of European countries makes them potential new destinations for foreign employment. However, the government has not effectively implemented the task force's recommendations, with the report remaining gathering dust for an extended period.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20578', 'image' => '20240430015615_20231005094916_ed - Copy.jpg', 'article_date' => '2024-04-30 13:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20850', 'article_category_id' => '1', 'title' => 'G7 holds 'Strategic' Talks in Climate Hotspot Italy ', 'sub_title' => '', 'summary' => 'April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: G7 ministers meet for environment and climate change talks in Turin on Monday, with experts urging the highly industrialised countries to use their political clout, wealth and technologies to end fossil fuel use. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Group of Seven meeting in the northern Italian city is the first big political session since the world pledged at the UN's COP28 climate summit in December to transition away from coal, oil and gas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It comes as a new report by a global climate institute shows the G7 is falling far short of its targets. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Hundreds of protesters demonstrated in Turin on Sunday, some burning photos of the G7 leaders as they accused them of failing future generations over the climate crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rome, which holds the G7 rotating presidency, says it wants Turin to be "a strategic link" between last year's Conference of Parties in Dubai and COP29, which will take place in November in Azerbaijan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aim is "to make the course set out by COP28 practical, real, concrete," Italian Environment and Energy Security Minister Gilberto Pichetto Fratin said ahead of the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Italy, a climate change hotspot vulnerable to wildfires, drought and glacier retreat, is putting "biodiversity, ecosystems, warming seas" high on the agenda, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Delegations from Dubai and Azerbaijan are in Turin, as well as from Brazil, which hosts the G20 this year. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Innovative'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment ministers from the G7, which includes Canada, France, Germany, Japan, the UK and the US, will meet for four working sessions over two days at the 17th century Palace of Venaria. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environmentalists want to know how they intend to follow through on pledges such as the agreement in Dubai to double energy efficiency rates and triple renewable capacity by 2030. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The talks will stress the need to diversify sources of critical materials key to renewable energy systems, as well as minerals reuse, in a bid to stop overreliance on China, which dominates in green technologies. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy says rare earths and renewables will be part of discussions with African delegations invited to Turin. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Canada, France, Germany and the UK are pushing for a global treaty to reduce plastics pollution, and are expected to use the G7 to rally a reluctant US and Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate watchers hope for a ramping up of support for less developed countries in decarbonising their industrial production, with experts advising on particularly tricky sectors, like cement and steel. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There may be commitments on more funds for adaptation to climate change, and Italy said the G7 would discuss "innovative" financing models amid calls for more accessible finance for vulnerable countries. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">'Watched closely'</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Together the G7 makes up around 38 percent of the global economy and was responsible for 21 percent of total greenhouse gas emissions in 2021, according to the Climate Analytics policy institute. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Not one member of the group is on track to meet existing emission reduction targets for 2030, managing instead to cut them by "at best around half of what is needed", a report by the institute said last week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The US finalised sweeping plans Thursday to curb emissions from fossil fuel plants, giving existing coal plants until 2032 to reduce their carbon dioxide output by 90 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">France is expected to push for the G7 to phase out coal by 2030, but Japan is reluctant to set a date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Germany -- Europe's biggest emitter of greenhouse gases -- is unwilling to wean off gas, as is Italy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Italy's far-right Prime Minister Giorgia Meloni has vowed repeatedly to transform Italy into a gas hub for Europe, seeking new suppliers in the Mediterranean and Africa and expanding gas infrastructure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Luca Bergamaschi, founder of Italian climate think tank ECCO, questioned Italy's claim that gas was essential for its energy security, and said its interest in nascent technologies such as nuclear fusion is misguided. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">G7 decisions "have a big impact on the markets and on the ideas and expectations of investors", and Italy's stewardship in Turin "will be watched closely", he said. – AFP/RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20577', 'image' => '20240430012001_GettyImages-1143968019-b9eaada3149a46198c59ce7fa0763a62.jpg', 'article_date' => '2024-04-30 13:19:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20849', 'article_category_id' => '1', 'title' => '21.7 Per Cent Industries Still do not Pay Minimum Wage: GEFONT Report ', 'sub_title' => '', 'summary' => 'April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The number of industrial enterprises in the country not paying the labourers minimum wage has increased by six per cent and reached 21.7 per cent, according to a report of the GEFONT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The General Federation of Nepalese Trade Unions (GEFONT), a labour union affiliated with the CPN-UML, unveiled the Labour Audit Report- 2080 BS in a press conference on Monday, which revealed the startling facts about the condition of labourers and daily wage earners in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Nepal has determined Rs 17,300 per month as the minimum wage in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report stated that the situation of implementation of minimum wages and facilities for the workers was becoming critical in the country. Much to the dismay, situation of implementation of minimum wage in industrial enterprises, where the union is active, is not much rosy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the finding of the GEFONT, 15.30 per cent industrial establishments had not paid their workers minimum wage in 2079 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 72.6 per cent companies were found not paying minimum wage and overtime perks to workers hired through labour outsourcing companies in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The exploitation of the labourers is approaching towards a critical point, cautioned the report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the Labour Act-2074 BS stipulates that the workers cannot be forced to work for more than eight hours a day and 48 hours a week, it is far from effective implementation, the report lamented. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the scenario of child labour paints a slightly brighter picture as per the report. The industries employing children as workers were decreasing lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2079 BS, the industries using child labour was 0.75 per cent which reduced to 0.6 percent in 2080 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the press conference, GEFONT's President Binod Shrestha read out a 25-point declaration prepared by the union in the context of the upcoming May Day (International Labour Day on May 1). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The union has been complaining with the government regarding lax implementation of the Labour Act-2074 BS which aims to secure the welfare of the workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the 25-point declaration, the union demanded an orientation session for the labourers about social security fund. It also underscored strict implementation of the minimum wage provision and removal of the provision of not filing the case against forceful transfer in the labour court among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Working Journalist Association's Chairperson Janmadev Jaisi argued that the syndicate system in the industry and political instability had caused economic crisis in the country which, according to him, had hit the daily wagers the hardest. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20576', 'image' => '20240430115446_shutterstock_707531416-1.jpg', 'article_date' => '2024-04-30 11:54:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20848', 'article_category_id' => '1', 'title' => 'Investment Summit Concludes with Signing of Important Agreements ', 'sub_title' => '', 'summary' => 'April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 30: The Third Nepal Investment Summit 2024 concluded on Monday with the signing of some significant agreements while also laying the founding for bringing in more investments into the country. The notable participation of domestic and foreign investors, along with some significant outcome has conveyed the message that Nepal is an attractive destination for investment, said Chief Executive Officer of Investment Board Nepal (IBN), Sushil Bhatta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"During the two-day investment summit, about a dozen agreements have been signed with memorandums of understandings to advance the concept of public-private partnership. In addition, more than 30 foreign delegations have had separate meetings with the ministers of various related ministries," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The first day of the summit saw signing of three agreements. An agreement was signed between BLC Group Nepal and Yotta Data Services Private Limited India for collaboration in data center construction and operation. The agreement was signed by BLC Group’s Managing Director Megha Chaudhary and Yotta Chief Executive Officer Sunil Gupta. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The second agreement signed on Sunday was between the Federation of Nepalese Chambers of Commerce and Industry and the National Chamber of Commerce, Malaysia regarding collaboration and cooperation for the promotion of bilateral trade and investment. FNCCI President Chandra Prasad Dhakal and National Chamber of Commerce and Industry of Malaysia (NCCIM)’s President Tan Sri Son Thain Lai signed the agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the FNCCI has also signed an agreement of cooperation with the Federation of Malaysian Manufacturers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, on the second day of the summit, a bilateral cooperation agreement was reached between the World Association of PPP Units and Professionals (WAPPP) and the Nepal Association of PPP Professionals of Practitioners (NAP) for the promotion of Public-Private Partnership (PPP) in Nepal. The MoU was signed by President Ziad Alexandre Hayek on behalf of WAPPP and President Anup Kumar Upadhyay, on behalf of NAP. As per the MoU both organizations will collaborate on matters of common interest, exchange knowledge and experience related to public-private partnership, and promote international best practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An agreement on cooperation and collaboration in hotel business was signed between Sakha Group of Nepal and Bor Group of Hotel China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two MoUs have been signed to bring in investment from Chinese companies through the private sector of Nepal. Separate MoUs was signed between Nepal's NexGen Management Solutions Private Limited and China's MABC Investment Private Limited as well as FNCCI and China's Donggaun Jinyang Lighting Product Company Limited. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Third Investment Summit also ensured Australian investment to open a modern resort at Rara lake area of Mugu district. Expert Group of Australia would invest in the resort. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An MoU for the investment collaboration was signed by Badri Aryal and Sanjeev Sharma on behalf the Expert Group and by Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The resort to be constructed on 80 ropanis of land at Murmatop of Chhayanath Rara Municipality-9, Mugu district, will have an investment of approximately Rs 700 million in the first phase and around Rs 400 million in the second phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Federation of Nepalese Industries and Commerce (FNIC) and the Indian Industries Association (IIA) inked an MoU for a bilateral cooperation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FNIC president Khim Lal Bhandari and IIA chairperson Anuj Kumar Garg signed the MoU on behalf of their respective sides. The MoU aims to promote cooperation and mutual interests in investment, trade, and industrial development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, during the summit, investment worth Rs 9.13 billion has been approved by the Department of Industry for four different projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shankar Singh Dhami, Director at the Foreign Investment and Technology Transfer Section of the Department, shared that Rs 6 billion has been approved to set up an investment company in Bhaktapur and Rs 3 billion to establish a commercial building complex in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, an investment of Rs 76 million for construction of hydropower project of 200 KW capacity has been endorsed for which Eccles Energy Limited (the UK) will have 85 per cent investment and Mohanyal rural municipality in Kailali district will bear the remaining 15 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 62 million has been approved for constructing hotels and restaurants in Lalitpur district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Department launched a system that approves foreign investment through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department inaugurated the system of foreign investment approval through the automated system on Monday, the second and last day of the summit. Accordingly, foreign investors can apply for establishing a new company with 100 per cent share ownership or joint venture or investment capital in an already operating company through automated system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the system effective from April 29 and receive the letter of approval of foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, agreement has been inked for operating remit hydro power projects utilizing the remittance for hydropower projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the second day of the summit, an agreement was inked among the Hydro Electricity Investment and Development Company Limited and Non-Resident Nepali Association and National Coordination Council for the same. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ramesh Bhatta (Qatar), Raj Kumar Shrestha (Bahrain), Binod Thapa (Malaysia), Binod Shrestha (Iraq), Bikash Shahi (UAE), Bikal Jha (Oman) and Tikaram Kharel (Japan) signed the agreement on the behalf of the council. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another agreement was signed between the Nepal Chamber of Commerce and delegates from Croatia for trade facilitation and facilitation for investment in tourism sector. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20575', 'image' => '20240430112353_investment summit.jpg', 'article_date' => '2024-04-30 11:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20847', 'article_category_id' => '1', 'title' => 'Third Investment Summit-2024 was Successful: Finance Minister', 'sub_title' => '', 'summary' => 'Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">April 30: Finance Minister Barshaman Pun said that the Third International Investment Summit-2024 was successful. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In a meeting with ambassadors, along with representatives from the World Bank, Asian Development Bank, International Monetary Fund, and United Nations Development Programme, Minister Pun reiterated that the summit was a great success.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Highlighting participation of development partners in the investment summit, Pun argued that presence of development partners, investors, and stakeholders confirmed the success of the summit. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">“The presence of representatives of various countries and development partners at the investment summit confirms Nepal as an excellent destination for investment,” the minister asserted.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the meeting, the minister expressed commitment to further enhancing cooperation with development partners in the coming days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"Nepal is an outstanding and attractive destination for investment, and there are ample investment opportunities here in energy, tourism, information technology, agriculture, and infrastructure projects,” he added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun shared that Nepal was developing capacities to transition from least developed to developing country. He highlighted significant opportunities for both domestic and foreign investment in Nepal due to its strategic location between China and India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-30', 'modified' => '2024-04-30', 'keywords' => '', 'description' => '', 'sortorder' => '20574', 'image' => '20240430054935_collage (67).jpg', 'article_date' => '2024-04-30 05:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $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
