April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of…
April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday…
April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of…
April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five…
April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and…
April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their…
April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since…
April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in…
April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the…
April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in…
The Nepal Stock Exchange (NEPSE) Index saw a gain of 0.72%, or 14.33 points, closing at 1,980.27 points on the first trading day of the week on…
April 28: President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal said that the government is creating a conducive environment for investment in Nepal by taking the private sector in…
April 28: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has urged investors from around the world to seize the opportunity and invest in Nepal's burgeoning…
April 28: Prime Minister Pushpa Kamal Dahal has said Nepal is a suitable destination for investment, calling upon the investors from across the globe to seize the opportunity and benefit from…
April 28: President Ram Chandra Paudel has issued the Ordinance Amending Some Nepal Acts Related to Investment Facilitation, 2081. …
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The investors who attended the two-day summit agreed to invest Rs 6 billion for establishing an investment company in Bhaktapur, Rs 3 billion for a business complex building in Kathmandu, Rs 76.6 million for 200 KW hydropower project in Kailali and Rs 62.5 million for the construction of hotels and restaurants in Lalitpur district, according to Director of the foreign investment and technology transfer unit under the Department of Industry, Shankar Singh Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the summit, the department inaugurated the system of approval of foreign investment through the automatic route. 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 automatic route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the new system effective from April 29 and receive the letter of approval for foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has not specified any minimum investment limit while approving foreign investment through automatic route for information technology-based industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The automatic route is expected to save the investors' time and money required for making investments in Nepal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20573', 'image' => '20240429072741_20220227052247_20160222122813_ep3.jpg', 'article_date' => '2024-04-29 19:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20845', 'article_category_id' => '1', 'title' => 'Sita Air makes Emergency Landing at TIA', 'sub_title' => '', 'summary' => 'April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the airport sources, the aircraft which was carrying passengers from Kathmandu to Ramechhap returned back to Kathmandu due to a hydraulic issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Jagannath Niraoula, General Manager of TIA, the plane departed for Ramechhap at 9:30 am but swiftly returned back after encountering the problem. Fortunately, the aircraft managed to land safely during the emergency situation, he told the state-owned RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation industry of Nepal has faced significant challenges in maintaining safety standards over the years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides the country's difficult topography, adverse weather conditions, and limited infrastructure, all airline companies operating in Nepal use second-hand or even older aircraft for regular flights as well as cargo flights within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's airliners have been on the EU's air safety blacklist since 2013 due to significant aviation security concerns.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20572', 'image' => '20240429063704_s.jpg', 'article_date' => '2024-04-29 18:36:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20844', 'article_category_id' => '1', 'title' => 'Australian Investment Roped in for Building Resort in Rara ', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Expert Group of Australia reached an agreement with a local partner for investment in the resort on the second day of the Investment Summit on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Badri Aryal and Sanjeev Sharma on behalf the Expert Group and Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd signed the MoU for the investment collaboration. </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, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, they have set a target to construct the resort within one and half years. The detailed project report for the resort has been already prepared. The resort will be constructed using the local resources and reflecting the local culture, he added. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">NCC and Croatian private sector sign MoU for collaboration on trade and tourism</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Meanwhile, Nepal Chamber of Commerce (NCC) and a business delegation from Croatia have signed a memorandum of understanding (MoU) for collaboration on trade and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to NCC, it reached an understanding with the Croatian delegation regarding trade facilitation and investment in the tourism sector on the sideline of the Third Investment Summit in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC showcased score of projects related to hydropower development, hotel industry among others in the summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC president Kamalesh Kumar Agrawal told RSS that NCC and the Croatian business delegation discussed the investment environment, profits, consumer market and legal regime, among other topics on the occasion. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20571', 'image' => '20240429062147_20240130024837_investment.jpg', 'article_date' => '2024-04-29 18:21:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20843', 'article_category_id' => '1', 'title' => 'Government to Take Control of Ncell's Assets after 5 Years', 'sub_title' => '', 'summary' => 'April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Section 33 of the Telecommunication Act 2053 allows the government to take control of the land, buildings, devices, equipment and structures related to telecommunication services after the expiry of the 25-year license period of a telecommunication company with more than 50 percent foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">If the same company wishes to renew the license, it can do so by paying the full price fixed after evaluating the company’s property. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After realizing that the ownership of the assets of Ncell would be transferred to the government, Malaysia-based Axiata which owned majority of shares of Ncell, announced on December 1, 2023 to sell the shares of Reynolds Holding Company, which owns 80 percent of the shares in Ncell, to Spectralite UK Limited. Axiata owns 100% of the shares in Reynolds Holding, which is registered in St. Kitts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spectralite UK Limited is owned by Satishlal Acharya, a Singspore-based businessman of Nepali origin. This is a company registered in Britain in September 2023. Acharya's wife, Bhavna Singh, owns 20% of Ncell shares under Sunivera Capital Venture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata’s decision to sell its stakes in Ncell was criticized by the Nepal Telecommunication Authority, the regulatory body of telecommunication sector of Nepal, stating that the agreement was reached without the consent of the NTA.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government constituted a high-level inquiry committee led by former Auditor General Tankmani Sharma. After studying the committee's suggestions, the government decided not to implement the agreement between Axiata and Spectralight UK Limited. The Council of Ministers took this decision on February 18 but the decision was made public only on last Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ncell's GSM Cellular Mobile Service License issued on September 1, 2004, is about to expire at the end of August 2024. The company will have to renew its license for the third and final time for the next five years, i.e., by 2029. The government has decided to renew the license only on the condition that the company comes under government ownership after August 31, 2029. The government will decide whether the renewal will be conditional for a period of five years. Additionally, the government will further study the recent change of ownership of Ncell, which is in the process of license renewal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To ensure the continuity of the services operated by the company, the government has decided to renew the license on the condition that the licensee has confirmed technical, financial, and administrative capacity and comes under government ownership after 25 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the cabinet decision, the government has decided to take regulatory action against buying and selling shares without prior approval.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata Berhad had referred a tax-related dispute to the International Center for Settlement of Investment Disputes (ICSID), which decided in favor of the government last June. The Council of Ministers refuted Axiata Berhad's allegations of imposing unfair tax in Nepal as baseless.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Given that the company's tax audit is pending from the financial year 2076/77, the government has decided to immediately conduct the tax audit and determine the tax liability. The government will assess whether tax liability, including capital gains tax or institutional income tax, is created under the Income Tax Act, 2058, and assess and collect such liability.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20570', 'image' => '20240429024626_20231130105406_ncell.jpg', 'article_date' => '2024-04-29 14:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20842', 'article_category_id' => '1', 'title' => 'Air Pollution Pose Serious Health Risk for Children and Women', 'sub_title' => '', 'summary' => 'April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the study conducted by Save the Children, various health related problems such as asthma, lung and breathing problems, cough, skin irritation have appeared due to air pollution. The report mentions that it has had an adverse effect on the development of children, as well as problems in the health of pregnant women and a decrease in the average life expectancy.</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"">Ayush Joshi, director of communication and media of Save the Children, said that the study was conducted in Kathmandu and Saptari, which are among the districts most affected by air pollution in Nepal. He added that the study pointed out the need to analyze the overall welfare and development of children rather than looking at the effects of air pollution only in relation to health. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We are concerned that educational opportunities may be lost and the family's livelihood may also be affected when schools are closed and it is difficult to walk outside due to air pollution. In addition, pollution seems to have seriously affected the lives of children, women and underrepresented groups," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that since the existing development concept does not take into account the harmful effects of air pollution, it is necessary to take into account the lives of women, children and underrepresented groups in development.</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 report emphasizes the need for a strong policy for the overall welfare of children, and emphasizes the need to spread awareness about such policies at the public level and to address environmental problems.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20569', 'image' => '20240429021245_Untitled.jpg', 'article_date' => '2024-04-29 14:12:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20841', 'article_category_id' => '1', 'title' => 'Experts Urge Investors to Invest in Nepal with Full Confidence ', 'sub_title' => '', 'summary' => 'April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speakers of the first session of the Nepal Investment Summit that started in Kathmandu on Sunday said so while inviting the investors and argued that Nepal has created an investment-friendly environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barsha Man Pun, who chaired the plenary session titled Exploring Investment Opportunities in Nepal, urged the investors to consider the government's commitment to the legal reforms made through the ordinance issued recently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that intensive discussions were held with the private sector and the laws were amended based on the recommendations from the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also said the government is making tax-related laws more investment-friendly. Nepal is situated between the two giant and rising economic powers China and India, which have given a great opportunity for domestic and international investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former Finance Minister Dr Prakash Sharan Mahat said that Nepal has made sectoral priorities to bring in foreign investment concluding that “our internal sources were not sufficient” for Nepal's development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, economist and lawmaker Dr Swornim Wagle said a flexible legal environment was needed to facilitate investors in Nepal along with an effective mechanism in place for arbitration in case of some disputes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking on the occasion, UN Resident Coordinator Hanaa Singer-Hamdy said Nepal could explore new blended finance approaches that can crowd in the private sector, multiply development impact and create opportunities for the public sector to share risks and rewards fairly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said that as Nepal is preparing for LDC graduation in 2026, the UN will continue to work with the Government of Nepal and agencies to help increase the flow of sustainable investments. "We will continue to support the development of a strong business ecosystem with a vision for a sustainable, inclusive and green economy," she added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20568', 'image' => '20240429011714_20160513034506_editor.jpg', 'article_date' => '2024-04-29 13:16:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20839', 'article_category_id' => '1', 'title' => 'Nepal Investment Summit: Two Organisations Sign MoU for PPP Cooperation ', 'sub_title' => '', 'summary' => 'April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. ', '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 World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Ziad-Alexandre Hayek and NAPPP Chair Anup Kumar Upadhyay signed the document on behalf of their respective sides. Both parties have agreed to collaborate in matters of mutual concerns and exchange knowledge and experiences regarding public-private partnership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strengthening of physical infrastructure and PPP pipelines, preparations of PPP projects and programmes, and collaboration for the promotion of international exercises in the implementation, hosting of joint gatherings and assemblies, and publications of joint journals are among the contents of the MoU. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP Chairperson Anup Kumar Upadhyay said the cooperation between the WAPP and NAPPP is expected to help Nepal enhance its knowledge and capacity regarding the PPP and strengthen projects on PPP. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Hayek said Nepal has a long experience in the implementation of PPP-based projects and this approach has brought transformations mainly in the hydropower and clean energy sectors. Nepal's home-grown practices and its experiences are exemplary, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP with its headquarters in Geneva, Switzerland, is a global non-governmental organization. It helps its members achieve their professional goals and promotes best practices in PPP to align with UN SDGs, the WAPP said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP is said to be an association that brings together practitioners, professionals, and members from multiple sectors to promote collaboration, innovation, and efficiency in public-private partnerships and investment to contribute to sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Sakha and Company Private Limited and Anforman Group and BORE Hotel, China on Monday signed an agreement worth Rs 100 million for cooperation in hotel business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On Sunday, the opening day of the summit, <span style="font-family:"Arial Unicode MS","sans-serif"">the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Malaysia-based National Chamber of Commerce and Industry signed bilateral agreements aimed at exploring trade and investment promotion. </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 FNCCI President, Chandra Prasad Dhakal, and the President of the National Chamber of Commerce and Industry of Malaysia (NCCIM), Tan Sri Dato Soh Thian Lai, signed the documents on behalf of their respective sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two business entities from Nepal and India also entered into a cooperation agreement for the establishment and operation of a data center. BLC Group Nepal and Yotta Data Services Private Limited of India have reached an agreement in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Managing Director of BLC Group, Megha Chaudhary, and Yotta's Chief Executive Officer, Sunil Gupta, affixed their signatures to the agreement on behalf of their respective organizations. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20566', 'image' => '20240429123203_investment summit.jpg', 'article_date' => '2024-04-29 12:31:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20837', 'article_category_id' => '1', 'title' => 'Hydropower, a Major Area of Investment in Nepal, says Dr Mahat ', 'sub_title' => '', 'summary' => 'April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"India has signed a long-term agreement to import 10,000 MW of electricity while Bangladesh is also willing to import energy. There is no problem for market," he said during a session of the Nepal Investment Summit on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the session, Mahat said tourism, agriculture and information technology are other good areas for investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing Nepal as a hub for agricultural production, he said that it is an excellent destination for those who want to invest in agriculture </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Information technology sector exported services worth Rs 67 billion last year. With stability in the government policy, there is no market problem as Nepal lies between big economies like India and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former Finance Minister said that there is a need for large commercial investment rather than small personal investment in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20564', 'image' => '20240429115227_hydro.jpg', 'article_date' => '2024-04-29 11:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20836', 'article_category_id' => '1', 'title' => 'China not to Charge Visa Fees for Nepali Nationals ', 'sub_title' => '', 'summary' => 'April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting 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 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Embassy of China in Kathmandu has shared that no visa fee will be applied for Nepali nationals starting from May 1, 2024. It may be noted Nepal has been giving the same facility to Chinese citizens since 2016. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision comes following an agreement reached during the visit of Deputy Prime Minister and Foreign Minister Narayankaji Shrestha to China last March. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Embassy of China in Kathmandu said that visa fees will not be applied for Nepali citizens so as to promote friendship between the two countries and facilitate the exchange of visits. Express charges and services however will remain as before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali tourism entrepreneurs had been demanding charge-free visas for Nepalis since a long time. With this new provision, Nepali nationals can easily go to China and the traffic in both directions will have a positive effect on the tourism sector, said Maniraj Lamichhane, Director of Nepal Tourism Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to statistics provided by the NTB, the arrival of Chinese tourists has been increasing in 2024. A total of 12,093 Chinese tourists arrived in Nepal in the month of March. The number was 9,180 in February and 1,436 in January. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2023, altogether 60,878 Chinese tourists had visited Nepal. Before the coronavirus pandemic, the highest number of Chinese tourists visiting Nepal was in 2019 that stood at 169,543. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20563', 'image' => '20240429112857_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-04-29 11:28:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20835', 'article_category_id' => '1', 'title' => 'NAC Aircraft Returns after Maintenance in Israel', 'sub_title' => '', 'summary' => 'April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NAC Spokesperson Ramesh Poudel, the narrow-body aircraft with call sign 9N-AKX landed at Tribhuvan International Airport (TIA) on Saturday evening after its maintenance in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that the NA aircraft had flown to Israel for repair at the Maintenance, Repair, and Overhaul (MRO) Company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a press statement, NAC Spokesperson Poudel stated that the maintenance and repair works were delayed due the lack of spare parts and accessories. The plane was grounded on December 1, 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NAC has two narrow-body and two wide-body aircraft for international flights. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20562', 'image' => '20240428062817_NAC narrow body.jpg', 'article_date' => '2024-04-28 18:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20834', 'article_category_id' => '1', 'title' => 'NEPSE Posts Gain of 14.33 Points to Close at 1980.27', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a gain of 0.72%, or 14.33 points, closing at 1,980.27 points on the first trading day of the week on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">April 28: The Nepal Stock Exchange (NEPSE) Index saw a gain of 0.72%, or 14.33 points, closing at 1,980.27 points on the first trading day of the week on Sunday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">During today’s trading session, 308 different stocks were traded in the NEPSE through 48,183 transactions. The total volume of shares traded stood at 6,878,159, resulting in a total turnover of Rs. 2.68 billion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Pokhara Finance Ltd. (PFL) led the turnover amount with a turnover of Rs. 13.05 Crore, closing at a market price of Rs. 665.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Similarly, Pokhara Finance Ltd. (PFL) saw the highest gain of 9.02%, followed by Progressive Finance Limited (PROFL) with a gain of 7.62%.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">In terms of sector indices, only one sector Index closed in negative territory. The finance Index experienced the maximum gain of 3.98% while the Trading Index incurred the loss of 0.34%.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20561', 'image' => '20240428061950_collage (1).jpg', 'article_date' => '2024-04-28 18:18:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20833', 'article_category_id' => '1', 'title' => 'CNI President Highlights Nepal's Conducive Investment Climate at Investment Summit ', 'sub_title' => '', 'summary' => 'April 28: President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal said that the government is creating a conducive environment for investment in Nepal by taking the private sector in confidence. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal said that the government is creating a conducive environment for investment in Nepal by taking the private sector in confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the inaugural session of the Third Investment Summit in Kathmandu on Sunday, he urged the foreign investors to invest in Nepal as there is ample possibilities in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the summit marks a pivotal moment in our nation's journey towards prosperity and growth, the CNI President Agrawal said: "Nepal, with its abundant natural resources, cultural diversity, and strategic location, presents a wealth of opportunities for investors seeking to make a positive impact while achieving sustainable returns." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He stated that Nepal offers a fertile ground for innovation, entrepreneurship, and inclusive growth from tourism to technology, infrastructure development to renewable energy, education to healthcare, and extended a warm welcome to investors from around the world, inviting them to explore the myriad investment prospects that Nepal has to offer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI president called on investors to seize this moment to capitalize on the momentum generated by this summit and translate it into tangible investments that drive job creation, infrastructure development, and socio-economic progress, urging them to explore the diverse array of opportunities that Nepal offers across various sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal's unparalleled natural beauty, including the majestic Himalayan range and diverse cultural heritage, makes it a prime destination for adventure seekers, nature enthusiasts, and cultural tourists. With a strategic focus on sustainable tourism practices, there is significant room for investment in eco-friendly accommodations, adventure tourism services, and infrastructure development,” he said, adding, “As the country continues to invest in improving connectivity and promoting its unique attractions, the tourism industry is poised for substantial growth, providing lucrative opportunities for investors seeking to capitalize on Nepal's burgeoning tourism market.”</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Agrawal, Nepal has been making strides to position itself as an emerging IT hub in the South Asian region. </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"">“Nepal's exports of IT services experienced an extraordinary surge, reaching a remarkable figure of USD 515.4 million in the year 2022. This significant achievement catapulted IT services to the forefront, emerging as the country's top exportable product. It has opened doors to new opportunities, fueled by a rich pool of talent and a conducive business environment." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He added that hydropower represents a crucial sector for investment in Nepal, given its abundant water resources and the potential to generate clean energy.</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"">Investments in the development of hydropower infrastructure not only contribute to Nepal's energy security but also offer export opportunities to neighboring countries, he further stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal holds untapped potential for investors across diverse sectors, including education, healthcare, tea, real estate, and textiles. In the education sector, there is a unique opportunity to establish Nepal as an education hub, leveraging its cultural richness and serene environment. Investing in world-class educational institutions, research facilities, and vocational training centers can attract both domestic and international students. </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"">“By developing a robust educational ecosystem, investors can contribute to shaping Nepal as a knowledge destination, fostering intellectual growth and socio-economic development.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Agrawal pointed out that healthcare presents a significant investment avenue, with the potential to establish Nepal as a medical hub. Investing in state-of-the-art medical facilities, specialized treatment centers, and research institutions can not only cater to the local population but also attract medical tourists from neighboring countries, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The country's serene environment can offer a conducive setting for recovery and wellness, making it an appealing destination for medical tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am glad to share you all that the government has responded to the requests of private sectors such as CNI by amending various laws and regulations. It brings me great satisfaction to recognize and commend the proactive measures taken by the government through recent amendments in a multitude of laws and regulations. These actions underscore the government's unwavering commitment to nurturing a conducive investment climate within the country. The amendments, enacted through ordinances, signify a forward-looking approach aimed at streamlining processes and enhancing the ease of doing business." -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20560', 'image' => '20240428022347_6F8A1993.jpg', 'article_date' => '2024-04-28 14:22:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20832', 'article_category_id' => '1', 'title' => 'FNCCI President Urges Investors to Explore Nepal's Potential Sectors ', 'sub_title' => '', 'summary' => 'April 28: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has urged investors from around the world to seize the opportunity and invest in Nepal's burgeoning economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has urged investors from around the world to seize the opportunity and invest in Nepal's burgeoning economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the 3rd Nepal Investment Summit 2024, he emphasized the country's colossal untapped sectors and its potential as an investment destination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal highlighted Nepal's strategic location between the economic powerhouses of China and India, underscoring its significance as a gateway to vast markets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He emphasized the abundant opportunities across various sectors, including tourism, infrastructure, energy, agriculture, technology, and ICT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI president particularly highlighted the immense potential in renewable energy, citing recent agreements for power trade with India and Bangladesh as indicators of Nepal's capability in hydropower generation and regional trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also underscored the need for modern infrastructure in tourism, agriculture, and technology sectors to harness Nepal's rich cultural heritage, natural beauty, and young, dynamic workforce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, Dhakal emphasized the importance of investing in technical education to bridge the gap between demand and supply of skilled human resources, thereby boosting both domestic employment and remittance inflows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He commended the government's efforts in implementing business-friendly policies and initiatives to facilitate foreign investment, including recent amendments and bilateral investment agreements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Highlighting FNCCI's role in boosting investors’ confidence through international business summits in New Delhi, Beijing, and Dubai, Dhakal assured continuous support and commitment from the private sector for joint ventures in all potential areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared his belief in Nepal's emerging growth story and encouraged forging partnerships to chart a path towards sustainable development and prosperity. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20559', 'image' => '20240428022227_PradeeprajOnta_KTM_RSS_16_6F8A2068.jpg', 'article_date' => '2024-04-28 14:21:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20831', 'article_category_id' => '1', 'title' => 'Nepal is Committed to Liberal Economic Policy: PM Dahal ', 'sub_title' => '', 'summary' => 'April 28: Prime Minister Pushpa Kamal Dahal has said Nepal is a suitable destination for investment, calling upon the investors from across the globe to seize the opportunity and benefit from it. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Prime Minister Pushpa Kamal Dahal has said Nepal is a suitable destination for investment, calling upon the investors from across the globe to seize the opportunity and benefit from it. </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 prime minister made this remark while inaugurating the Nepal Investment Summit 2024 in Kathmandu on Sunday. On the occasion, the PM asserted that there are immense opportunities for investment in Nepal and it has potential for investment from the legal, geographical and strategic perspective as well. </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"">Stating that Nepal is fully committed to a liberal economic policy, he reassured that an investment-friendly environment has been created in the country. The prime minister said Nepal is continuously moving ahead towards creating a friendly environment for the investors, industrialists, entrepreneurs and innovators. In this connection, he added, eight various laws related to business and investment have been amended. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Finance Minister Barshaman Pun has asserted that Nepal is an attractive destination for international investment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Finance Minister, the key objectives of the Summit are: To project Nepal as an emerging destination for private sector investment; to highlight recent reforms in enhancing the investment climate and ensuring regulatory frameworks that support foreign as well as domestic investment, to showcase a wide range of projects across different sectors, including investment-ready projects; to facilitate productive negotiations and come up with a number of agreements and Memoranda of Understanding (MOUs) between investors and stakeholders, advancing project development and management objectives; and to provide a platform for networking opportunities among the policymakers, investors, experts and other stakeholders to share ideas and views as well as encourage joint ventures in areas such as industry and infrastructure development. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Nepali Congress President and former Prime Minister Sher Bahadur Deuba said Nepal’s investment regime is now liberal in terms of sectors open for foreign investment, tax policies and repatriation of earnings. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to main opposition party leader, foreign investment is protected by domestic law and various international instruments to which Nepal is a signatory to. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20558', 'image' => '20240428020633_PradeeprajOnta_KTM_RSS_16_6F8A1917.jpg', 'article_date' => '2024-04-28 14:05:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20830', 'article_category_id' => '1', 'title' => 'President Issues Ordinance to Facilitate Investment ', 'sub_title' => '', 'summary' => 'April 28: President Ram Chandra Paudel has issued the Ordinance Amending Some Nepal Acts Related to Investment Facilitation, 2081. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President Ram Chandra Paudel has issued the Ordinance Amending Some Nepal Acts Related to Investment Facilitation, 2081. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The President issued the ordinance upon the recommendation of the Council of Ministers in accordance with the Article 114 (1) of the Constitution of Nepal, states a communiqué signed by Shailaja Regmi Bhattarai, the spokesperson at the Office of the President. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ordinance was issued to facilitate investors in the context of the Third Investment Summit that kicked off in the federal capital on Sunday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20557', 'image' => '20240428010446_20230716044618_collage (1).jpg', 'article_date' => '2024-04-28 13:04:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20846', 'article_category_id' => '1', 'title' => 'Govt Launches Automatic Approval for FDI as Investment Summit Approves Investment of Rs 9.13 Billion', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The investors who attended the two-day summit agreed to invest Rs 6 billion for establishing an investment company in Bhaktapur, Rs 3 billion for a business complex building in Kathmandu, Rs 76.6 million for 200 KW hydropower project in Kailali and Rs 62.5 million for the construction of hotels and restaurants in Lalitpur district, according to Director of the foreign investment and technology transfer unit under the Department of Industry, Shankar Singh Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the summit, the department inaugurated the system of approval of foreign investment through the automatic route. 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 automatic route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the new system effective from April 29 and receive the letter of approval for foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has not specified any minimum investment limit while approving foreign investment through automatic route for information technology-based industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The automatic route is expected to save the investors' time and money required for making investments in Nepal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20573', 'image' => '20240429072741_20220227052247_20160222122813_ep3.jpg', 'article_date' => '2024-04-29 19:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20845', 'article_category_id' => '1', 'title' => 'Sita Air makes Emergency Landing at TIA', 'sub_title' => '', 'summary' => 'April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the airport sources, the aircraft which was carrying passengers from Kathmandu to Ramechhap returned back to Kathmandu due to a hydraulic issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Jagannath Niraoula, General Manager of TIA, the plane departed for Ramechhap at 9:30 am but swiftly returned back after encountering the problem. Fortunately, the aircraft managed to land safely during the emergency situation, he told the state-owned RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation industry of Nepal has faced significant challenges in maintaining safety standards over the years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides the country's difficult topography, adverse weather conditions, and limited infrastructure, all airline companies operating in Nepal use second-hand or even older aircraft for regular flights as well as cargo flights within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's airliners have been on the EU's air safety blacklist since 2013 due to significant aviation security concerns.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20572', 'image' => '20240429063704_s.jpg', 'article_date' => '2024-04-29 18:36:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20844', 'article_category_id' => '1', 'title' => 'Australian Investment Roped in for Building Resort in Rara ', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Expert Group of Australia reached an agreement with a local partner for investment in the resort on the second day of the Investment Summit on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Badri Aryal and Sanjeev Sharma on behalf the Expert Group and Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd signed the MoU for the investment collaboration. </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, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, they have set a target to construct the resort within one and half years. The detailed project report for the resort has been already prepared. The resort will be constructed using the local resources and reflecting the local culture, he added. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">NCC and Croatian private sector sign MoU for collaboration on trade and tourism</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Meanwhile, Nepal Chamber of Commerce (NCC) and a business delegation from Croatia have signed a memorandum of understanding (MoU) for collaboration on trade and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to NCC, it reached an understanding with the Croatian delegation regarding trade facilitation and investment in the tourism sector on the sideline of the Third Investment Summit in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC showcased score of projects related to hydropower development, hotel industry among others in the summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC president Kamalesh Kumar Agrawal told RSS that NCC and the Croatian business delegation discussed the investment environment, profits, consumer market and legal regime, among other topics on the occasion. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20571', 'image' => '20240429062147_20240130024837_investment.jpg', 'article_date' => '2024-04-29 18:21:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20843', 'article_category_id' => '1', 'title' => 'Government to Take Control of Ncell's Assets after 5 Years', 'sub_title' => '', 'summary' => 'April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Section 33 of the Telecommunication Act 2053 allows the government to take control of the land, buildings, devices, equipment and structures related to telecommunication services after the expiry of the 25-year license period of a telecommunication company with more than 50 percent foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">If the same company wishes to renew the license, it can do so by paying the full price fixed after evaluating the company’s property. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After realizing that the ownership of the assets of Ncell would be transferred to the government, Malaysia-based Axiata which owned majority of shares of Ncell, announced on December 1, 2023 to sell the shares of Reynolds Holding Company, which owns 80 percent of the shares in Ncell, to Spectralite UK Limited. Axiata owns 100% of the shares in Reynolds Holding, which is registered in St. Kitts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spectralite UK Limited is owned by Satishlal Acharya, a Singspore-based businessman of Nepali origin. This is a company registered in Britain in September 2023. Acharya's wife, Bhavna Singh, owns 20% of Ncell shares under Sunivera Capital Venture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata’s decision to sell its stakes in Ncell was criticized by the Nepal Telecommunication Authority, the regulatory body of telecommunication sector of Nepal, stating that the agreement was reached without the consent of the NTA.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government constituted a high-level inquiry committee led by former Auditor General Tankmani Sharma. After studying the committee's suggestions, the government decided not to implement the agreement between Axiata and Spectralight UK Limited. The Council of Ministers took this decision on February 18 but the decision was made public only on last Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ncell's GSM Cellular Mobile Service License issued on September 1, 2004, is about to expire at the end of August 2024. The company will have to renew its license for the third and final time for the next five years, i.e., by 2029. The government has decided to renew the license only on the condition that the company comes under government ownership after August 31, 2029. The government will decide whether the renewal will be conditional for a period of five years. Additionally, the government will further study the recent change of ownership of Ncell, which is in the process of license renewal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To ensure the continuity of the services operated by the company, the government has decided to renew the license on the condition that the licensee has confirmed technical, financial, and administrative capacity and comes under government ownership after 25 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the cabinet decision, the government has decided to take regulatory action against buying and selling shares without prior approval.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata Berhad had referred a tax-related dispute to the International Center for Settlement of Investment Disputes (ICSID), which decided in favor of the government last June. The Council of Ministers refuted Axiata Berhad's allegations of imposing unfair tax in Nepal as baseless.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Given that the company's tax audit is pending from the financial year 2076/77, the government has decided to immediately conduct the tax audit and determine the tax liability. The government will assess whether tax liability, including capital gains tax or institutional income tax, is created under the Income Tax Act, 2058, and assess and collect such liability.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20570', 'image' => '20240429024626_20231130105406_ncell.jpg', 'article_date' => '2024-04-29 14:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20842', 'article_category_id' => '1', 'title' => 'Air Pollution Pose Serious Health Risk for Children and Women', 'sub_title' => '', 'summary' => 'April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the study conducted by Save the Children, various health related problems such as asthma, lung and breathing problems, cough, skin irritation have appeared due to air pollution. The report mentions that it has had an adverse effect on the development of children, as well as problems in the health of pregnant women and a decrease in the average life expectancy.</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"">Ayush Joshi, director of communication and media of Save the Children, said that the study was conducted in Kathmandu and Saptari, which are among the districts most affected by air pollution in Nepal. He added that the study pointed out the need to analyze the overall welfare and development of children rather than looking at the effects of air pollution only in relation to health. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We are concerned that educational opportunities may be lost and the family's livelihood may also be affected when schools are closed and it is difficult to walk outside due to air pollution. In addition, pollution seems to have seriously affected the lives of children, women and underrepresented groups," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that since the existing development concept does not take into account the harmful effects of air pollution, it is necessary to take into account the lives of women, children and underrepresented groups in development.</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 report emphasizes the need for a strong policy for the overall welfare of children, and emphasizes the need to spread awareness about such policies at the public level and to address environmental problems.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20569', 'image' => '20240429021245_Untitled.jpg', 'article_date' => '2024-04-29 14:12:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20841', 'article_category_id' => '1', 'title' => 'Experts Urge Investors to Invest in Nepal with Full Confidence ', 'sub_title' => '', 'summary' => 'April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speakers of the first session of the Nepal Investment Summit that started in Kathmandu on Sunday said so while inviting the investors and argued that Nepal has created an investment-friendly environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barsha Man Pun, who chaired the plenary session titled Exploring Investment Opportunities in Nepal, urged the investors to consider the government's commitment to the legal reforms made through the ordinance issued recently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that intensive discussions were held with the private sector and the laws were amended based on the recommendations from the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also said the government is making tax-related laws more investment-friendly. Nepal is situated between the two giant and rising economic powers China and India, which have given a great opportunity for domestic and international investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former Finance Minister Dr Prakash Sharan Mahat said that Nepal has made sectoral priorities to bring in foreign investment concluding that “our internal sources were not sufficient” for Nepal's development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, economist and lawmaker Dr Swornim Wagle said a flexible legal environment was needed to facilitate investors in Nepal along with an effective mechanism in place for arbitration in case of some disputes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking on the occasion, UN Resident Coordinator Hanaa Singer-Hamdy said Nepal could explore new blended finance approaches that can crowd in the private sector, multiply development impact and create opportunities for the public sector to share risks and rewards fairly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said that as Nepal is preparing for LDC graduation in 2026, the UN will continue to work with the Government of Nepal and agencies to help increase the flow of sustainable investments. "We will continue to support the development of a strong business ecosystem with a vision for a sustainable, inclusive and green economy," she added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20568', 'image' => '20240429011714_20160513034506_editor.jpg', 'article_date' => '2024-04-29 13:16:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20839', 'article_category_id' => '1', 'title' => 'Nepal Investment Summit: Two Organisations Sign MoU for PPP Cooperation ', 'sub_title' => '', 'summary' => 'April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. ', '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 World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Ziad-Alexandre Hayek and NAPPP Chair Anup Kumar Upadhyay signed the document on behalf of their respective sides. Both parties have agreed to collaborate in matters of mutual concerns and exchange knowledge and experiences regarding public-private partnership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strengthening of physical infrastructure and PPP pipelines, preparations of PPP projects and programmes, and collaboration for the promotion of international exercises in the implementation, hosting of joint gatherings and assemblies, and publications of joint journals are among the contents of the MoU. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP Chairperson Anup Kumar Upadhyay said the cooperation between the WAPP and NAPPP is expected to help Nepal enhance its knowledge and capacity regarding the PPP and strengthen projects on PPP. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Hayek said Nepal has a long experience in the implementation of PPP-based projects and this approach has brought transformations mainly in the hydropower and clean energy sectors. Nepal's home-grown practices and its experiences are exemplary, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP with its headquarters in Geneva, Switzerland, is a global non-governmental organization. It helps its members achieve their professional goals and promotes best practices in PPP to align with UN SDGs, the WAPP said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP is said to be an association that brings together practitioners, professionals, and members from multiple sectors to promote collaboration, innovation, and efficiency in public-private partnerships and investment to contribute to sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Sakha and Company Private Limited and Anforman Group and BORE Hotel, China on Monday signed an agreement worth Rs 100 million for cooperation in hotel business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On Sunday, the opening day of the summit, <span style="font-family:"Arial Unicode MS","sans-serif"">the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Malaysia-based National Chamber of Commerce and Industry signed bilateral agreements aimed at exploring trade and investment promotion. </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 FNCCI President, Chandra Prasad Dhakal, and the President of the National Chamber of Commerce and Industry of Malaysia (NCCIM), Tan Sri Dato Soh Thian Lai, signed the documents on behalf of their respective sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two business entities from Nepal and India also entered into a cooperation agreement for the establishment and operation of a data center. BLC Group Nepal and Yotta Data Services Private Limited of India have reached an agreement in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Managing Director of BLC Group, Megha Chaudhary, and Yotta's Chief Executive Officer, Sunil Gupta, affixed their signatures to the agreement on behalf of their respective organizations. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20566', 'image' => '20240429123203_investment summit.jpg', 'article_date' => '2024-04-29 12:31:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20837', 'article_category_id' => '1', 'title' => 'Hydropower, a Major Area of Investment in Nepal, says Dr Mahat ', 'sub_title' => '', 'summary' => 'April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"India has signed a long-term agreement to import 10,000 MW of electricity while Bangladesh is also willing to import energy. There is no problem for market," he said during a session of the Nepal Investment Summit on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the session, Mahat said tourism, agriculture and information technology are other good areas for investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing Nepal as a hub for agricultural production, he said that it is an excellent destination for those who want to invest in agriculture </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Information technology sector exported services worth Rs 67 billion last year. With stability in the government policy, there is no market problem as Nepal lies between big economies like India and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former Finance Minister said that there is a need for large commercial investment rather than small personal investment in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20564', 'image' => '20240429115227_hydro.jpg', 'article_date' => '2024-04-29 11:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20836', 'article_category_id' => '1', 'title' => 'China not to Charge Visa Fees for Nepali Nationals ', 'sub_title' => '', 'summary' => 'April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting 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 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Embassy of China in Kathmandu has shared that no visa fee will be applied for Nepali nationals starting from May 1, 2024. It may be noted Nepal has been giving the same facility to Chinese citizens since 2016. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision comes following an agreement reached during the visit of Deputy Prime Minister and Foreign Minister Narayankaji Shrestha to China last March. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Embassy of China in Kathmandu said that visa fees will not be applied for Nepali citizens so as to promote friendship between the two countries and facilitate the exchange of visits. Express charges and services however will remain as before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali tourism entrepreneurs had been demanding charge-free visas for Nepalis since a long time. With this new provision, Nepali nationals can easily go to China and the traffic in both directions will have a positive effect on the tourism sector, said Maniraj Lamichhane, Director of Nepal Tourism Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to statistics provided by the NTB, the arrival of Chinese tourists has been increasing in 2024. A total of 12,093 Chinese tourists arrived in Nepal in the month of March. The number was 9,180 in February and 1,436 in January. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2023, altogether 60,878 Chinese tourists had visited Nepal. Before the coronavirus pandemic, the highest number of Chinese tourists visiting Nepal was in 2019 that stood at 169,543. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20563', 'image' => '20240429112857_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-04-29 11:28:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20835', 'article_category_id' => '1', 'title' => 'NAC Aircraft Returns after Maintenance in Israel', 'sub_title' => '', 'summary' => 'April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NAC Spokesperson Ramesh Poudel, the narrow-body aircraft with call sign 9N-AKX landed at Tribhuvan International Airport (TIA) on Saturday evening after its maintenance in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that the NA aircraft had flown to Israel for repair at the Maintenance, Repair, and Overhaul (MRO) Company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a press statement, NAC Spokesperson Poudel stated that the maintenance and repair works were delayed due the lack of spare parts and accessories. The plane was grounded on December 1, 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NAC has two narrow-body and two wide-body aircraft for international flights. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20562', 'image' => '20240428062817_NAC narrow body.jpg', 'article_date' => '2024-04-28 18:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20834', 'article_category_id' => '1', 'title' => 'NEPSE Posts Gain of 14.33 Points to Close at 1980.27', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a gain of 0.72%, or 14.33 points, closing at 1,980.27 points on the first trading day of the week on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">April 28: The Nepal Stock Exchange (NEPSE) Index saw a gain of 0.72%, or 14.33 points, closing at 1,980.27 points on the first trading day of the week on Sunday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">During today’s trading session, 308 different stocks were traded in the NEPSE through 48,183 transactions. The total volume of shares traded stood at 6,878,159, resulting in a total turnover of Rs. 2.68 billion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Pokhara Finance Ltd. (PFL) led the turnover amount with a turnover of Rs. 13.05 Crore, closing at a market price of Rs. 665.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Similarly, Pokhara Finance Ltd. (PFL) saw the highest gain of 9.02%, followed by Progressive Finance Limited (PROFL) with a gain of 7.62%.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">In terms of sector indices, only one sector Index closed in negative territory. The finance Index experienced the maximum gain of 3.98% while the Trading Index incurred the loss of 0.34%.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20561', 'image' => '20240428061950_collage (1).jpg', 'article_date' => '2024-04-28 18:18:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20833', 'article_category_id' => '1', 'title' => 'CNI President Highlights Nepal's Conducive Investment Climate at Investment Summit ', 'sub_title' => '', 'summary' => 'April 28: President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal said that the government is creating a conducive environment for investment in Nepal by taking the private sector in confidence. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal said that the government is creating a conducive environment for investment in Nepal by taking the private sector in confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the inaugural session of the Third Investment Summit in Kathmandu on Sunday, he urged the foreign investors to invest in Nepal as there is ample possibilities in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the summit marks a pivotal moment in our nation's journey towards prosperity and growth, the CNI President Agrawal said: "Nepal, with its abundant natural resources, cultural diversity, and strategic location, presents a wealth of opportunities for investors seeking to make a positive impact while achieving sustainable returns." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He stated that Nepal offers a fertile ground for innovation, entrepreneurship, and inclusive growth from tourism to technology, infrastructure development to renewable energy, education to healthcare, and extended a warm welcome to investors from around the world, inviting them to explore the myriad investment prospects that Nepal has to offer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI president called on investors to seize this moment to capitalize on the momentum generated by this summit and translate it into tangible investments that drive job creation, infrastructure development, and socio-economic progress, urging them to explore the diverse array of opportunities that Nepal offers across various sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal's unparalleled natural beauty, including the majestic Himalayan range and diverse cultural heritage, makes it a prime destination for adventure seekers, nature enthusiasts, and cultural tourists. With a strategic focus on sustainable tourism practices, there is significant room for investment in eco-friendly accommodations, adventure tourism services, and infrastructure development,” he said, adding, “As the country continues to invest in improving connectivity and promoting its unique attractions, the tourism industry is poised for substantial growth, providing lucrative opportunities for investors seeking to capitalize on Nepal's burgeoning tourism market.”</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Agrawal, Nepal has been making strides to position itself as an emerging IT hub in the South Asian region. </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"">“Nepal's exports of IT services experienced an extraordinary surge, reaching a remarkable figure of USD 515.4 million in the year 2022. This significant achievement catapulted IT services to the forefront, emerging as the country's top exportable product. It has opened doors to new opportunities, fueled by a rich pool of talent and a conducive business environment." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He added that hydropower represents a crucial sector for investment in Nepal, given its abundant water resources and the potential to generate clean energy.</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"">Investments in the development of hydropower infrastructure not only contribute to Nepal's energy security but also offer export opportunities to neighboring countries, he further stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal holds untapped potential for investors across diverse sectors, including education, healthcare, tea, real estate, and textiles. In the education sector, there is a unique opportunity to establish Nepal as an education hub, leveraging its cultural richness and serene environment. Investing in world-class educational institutions, research facilities, and vocational training centers can attract both domestic and international students. </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"">“By developing a robust educational ecosystem, investors can contribute to shaping Nepal as a knowledge destination, fostering intellectual growth and socio-economic development.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Agrawal pointed out that healthcare presents a significant investment avenue, with the potential to establish Nepal as a medical hub. Investing in state-of-the-art medical facilities, specialized treatment centers, and research institutions can not only cater to the local population but also attract medical tourists from neighboring countries, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The country's serene environment can offer a conducive setting for recovery and wellness, making it an appealing destination for medical tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am glad to share you all that the government has responded to the requests of private sectors such as CNI by amending various laws and regulations. It brings me great satisfaction to recognize and commend the proactive measures taken by the government through recent amendments in a multitude of laws and regulations. These actions underscore the government's unwavering commitment to nurturing a conducive investment climate within the country. The amendments, enacted through ordinances, signify a forward-looking approach aimed at streamlining processes and enhancing the ease of doing business." -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20560', 'image' => '20240428022347_6F8A1993.jpg', 'article_date' => '2024-04-28 14:22:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20832', 'article_category_id' => '1', 'title' => 'FNCCI President Urges Investors to Explore Nepal's Potential Sectors ', 'sub_title' => '', 'summary' => 'April 28: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has urged investors from around the world to seize the opportunity and invest in Nepal's burgeoning economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has urged investors from around the world to seize the opportunity and invest in Nepal's burgeoning economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the 3rd Nepal Investment Summit 2024, he emphasized the country's colossal untapped sectors and its potential as an investment destination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal highlighted Nepal's strategic location between the economic powerhouses of China and India, underscoring its significance as a gateway to vast markets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He emphasized the abundant opportunities across various sectors, including tourism, infrastructure, energy, agriculture, technology, and ICT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI president particularly highlighted the immense potential in renewable energy, citing recent agreements for power trade with India and Bangladesh as indicators of Nepal's capability in hydropower generation and regional trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also underscored the need for modern infrastructure in tourism, agriculture, and technology sectors to harness Nepal's rich cultural heritage, natural beauty, and young, dynamic workforce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, Dhakal emphasized the importance of investing in technical education to bridge the gap between demand and supply of skilled human resources, thereby boosting both domestic employment and remittance inflows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He commended the government's efforts in implementing business-friendly policies and initiatives to facilitate foreign investment, including recent amendments and bilateral investment agreements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Highlighting FNCCI's role in boosting investors’ confidence through international business summits in New Delhi, Beijing, and Dubai, Dhakal assured continuous support and commitment from the private sector for joint ventures in all potential areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared his belief in Nepal's emerging growth story and encouraged forging partnerships to chart a path towards sustainable development and prosperity. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20559', 'image' => '20240428022227_PradeeprajOnta_KTM_RSS_16_6F8A2068.jpg', 'article_date' => '2024-04-28 14:21:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20831', 'article_category_id' => '1', 'title' => 'Nepal is Committed to Liberal Economic Policy: PM Dahal ', 'sub_title' => '', 'summary' => 'April 28: Prime Minister Pushpa Kamal Dahal has said Nepal is a suitable destination for investment, calling upon the investors from across the globe to seize the opportunity and benefit from it. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Prime Minister Pushpa Kamal Dahal has said Nepal is a suitable destination for investment, calling upon the investors from across the globe to seize the opportunity and benefit from it. </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 prime minister made this remark while inaugurating the Nepal Investment Summit 2024 in Kathmandu on Sunday. On the occasion, the PM asserted that there are immense opportunities for investment in Nepal and it has potential for investment from the legal, geographical and strategic perspective as well. </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"">Stating that Nepal is fully committed to a liberal economic policy, he reassured that an investment-friendly environment has been created in the country. The prime minister said Nepal is continuously moving ahead towards creating a friendly environment for the investors, industrialists, entrepreneurs and innovators. In this connection, he added, eight various laws related to business and investment have been amended. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Finance Minister Barshaman Pun has asserted that Nepal is an attractive destination for international investment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Finance Minister, the key objectives of the Summit are: To project Nepal as an emerging destination for private sector investment; to highlight recent reforms in enhancing the investment climate and ensuring regulatory frameworks that support foreign as well as domestic investment, to showcase a wide range of projects across different sectors, including investment-ready projects; to facilitate productive negotiations and come up with a number of agreements and Memoranda of Understanding (MOUs) between investors and stakeholders, advancing project development and management objectives; and to provide a platform for networking opportunities among the policymakers, investors, experts and other stakeholders to share ideas and views as well as encourage joint ventures in areas such as industry and infrastructure development. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Nepali Congress President and former Prime Minister Sher Bahadur Deuba said Nepal’s investment regime is now liberal in terms of sectors open for foreign investment, tax policies and repatriation of earnings. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to main opposition party leader, foreign investment is protected by domestic law and various international instruments to which Nepal is a signatory to. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20558', 'image' => '20240428020633_PradeeprajOnta_KTM_RSS_16_6F8A1917.jpg', 'article_date' => '2024-04-28 14:05:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20830', 'article_category_id' => '1', 'title' => 'President Issues Ordinance to Facilitate Investment ', 'sub_title' => '', 'summary' => 'April 28: President Ram Chandra Paudel has issued the Ordinance Amending Some Nepal Acts Related to Investment Facilitation, 2081. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President Ram Chandra Paudel has issued the Ordinance Amending Some Nepal Acts Related to Investment Facilitation, 2081. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The President issued the ordinance upon the recommendation of the Council of Ministers in accordance with the Article 114 (1) of the Constitution of Nepal, states a communiqué signed by Shailaja Regmi Bhattarai, the spokesperson at the Office of the President. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ordinance was issued to facilitate investors in the context of the Third Investment Summit that kicked off in the federal capital on Sunday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20557', 'image' => '20240428010446_20230716044618_collage (1).jpg', 'article_date' => '2024-04-28 13:04:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The investors who attended the two-day summit agreed to invest Rs 6 billion for establishing an investment company in Bhaktapur, Rs 3 billion for a business complex building in Kathmandu, Rs 76.6 million for 200 KW hydropower project in Kailali and Rs 62.5 million for the construction of hotels and restaurants in Lalitpur district, according to Director of the foreign investment and technology transfer unit under the Department of Industry, Shankar Singh Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the summit, the department inaugurated the system of approval of foreign investment through the automatic route. 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 automatic route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the new system effective from April 29 and receive the letter of approval for foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has not specified any minimum investment limit while approving foreign investment through automatic route for information technology-based industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The automatic route is expected to save the investors' time and money required for making investments in Nepal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20573', 'image' => '20240429072741_20220227052247_20160222122813_ep3.jpg', 'article_date' => '2024-04-29 19:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20845', 'article_category_id' => '1', 'title' => 'Sita Air makes Emergency Landing at TIA', 'sub_title' => '', 'summary' => 'April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the airport sources, the aircraft which was carrying passengers from Kathmandu to Ramechhap returned back to Kathmandu due to a hydraulic issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Jagannath Niraoula, General Manager of TIA, the plane departed for Ramechhap at 9:30 am but swiftly returned back after encountering the problem. Fortunately, the aircraft managed to land safely during the emergency situation, he told the state-owned RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation industry of Nepal has faced significant challenges in maintaining safety standards over the years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides the country's difficult topography, adverse weather conditions, and limited infrastructure, all airline companies operating in Nepal use second-hand or even older aircraft for regular flights as well as cargo flights within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's airliners have been on the EU's air safety blacklist since 2013 due to significant aviation security concerns.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20572', 'image' => '20240429063704_s.jpg', 'article_date' => '2024-04-29 18:36:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20844', 'article_category_id' => '1', 'title' => 'Australian Investment Roped in for Building Resort in Rara ', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Expert Group of Australia reached an agreement with a local partner for investment in the resort on the second day of the Investment Summit on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Badri Aryal and Sanjeev Sharma on behalf the Expert Group and Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd signed the MoU for the investment collaboration. </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, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, they have set a target to construct the resort within one and half years. The detailed project report for the resort has been already prepared. The resort will be constructed using the local resources and reflecting the local culture, he added. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">NCC and Croatian private sector sign MoU for collaboration on trade and tourism</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Meanwhile, Nepal Chamber of Commerce (NCC) and a business delegation from Croatia have signed a memorandum of understanding (MoU) for collaboration on trade and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to NCC, it reached an understanding with the Croatian delegation regarding trade facilitation and investment in the tourism sector on the sideline of the Third Investment Summit in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC showcased score of projects related to hydropower development, hotel industry among others in the summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC president Kamalesh Kumar Agrawal told RSS that NCC and the Croatian business delegation discussed the investment environment, profits, consumer market and legal regime, among other topics on the occasion. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20571', 'image' => '20240429062147_20240130024837_investment.jpg', 'article_date' => '2024-04-29 18:21:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20843', 'article_category_id' => '1', 'title' => 'Government to Take Control of Ncell's Assets after 5 Years', 'sub_title' => '', 'summary' => 'April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Section 33 of the Telecommunication Act 2053 allows the government to take control of the land, buildings, devices, equipment and structures related to telecommunication services after the expiry of the 25-year license period of a telecommunication company with more than 50 percent foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">If the same company wishes to renew the license, it can do so by paying the full price fixed after evaluating the company’s property. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After realizing that the ownership of the assets of Ncell would be transferred to the government, Malaysia-based Axiata which owned majority of shares of Ncell, announced on December 1, 2023 to sell the shares of Reynolds Holding Company, which owns 80 percent of the shares in Ncell, to Spectralite UK Limited. Axiata owns 100% of the shares in Reynolds Holding, which is registered in St. Kitts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spectralite UK Limited is owned by Satishlal Acharya, a Singspore-based businessman of Nepali origin. This is a company registered in Britain in September 2023. Acharya's wife, Bhavna Singh, owns 20% of Ncell shares under Sunivera Capital Venture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata’s decision to sell its stakes in Ncell was criticized by the Nepal Telecommunication Authority, the regulatory body of telecommunication sector of Nepal, stating that the agreement was reached without the consent of the NTA.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government constituted a high-level inquiry committee led by former Auditor General Tankmani Sharma. After studying the committee's suggestions, the government decided not to implement the agreement between Axiata and Spectralight UK Limited. The Council of Ministers took this decision on February 18 but the decision was made public only on last Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ncell's GSM Cellular Mobile Service License issued on September 1, 2004, is about to expire at the end of August 2024. The company will have to renew its license for the third and final time for the next five years, i.e., by 2029. The government has decided to renew the license only on the condition that the company comes under government ownership after August 31, 2029. The government will decide whether the renewal will be conditional for a period of five years. Additionally, the government will further study the recent change of ownership of Ncell, which is in the process of license renewal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To ensure the continuity of the services operated by the company, the government has decided to renew the license on the condition that the licensee has confirmed technical, financial, and administrative capacity and comes under government ownership after 25 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the cabinet decision, the government has decided to take regulatory action against buying and selling shares without prior approval.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata Berhad had referred a tax-related dispute to the International Center for Settlement of Investment Disputes (ICSID), which decided in favor of the government last June. The Council of Ministers refuted Axiata Berhad's allegations of imposing unfair tax in Nepal as baseless.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Given that the company's tax audit is pending from the financial year 2076/77, the government has decided to immediately conduct the tax audit and determine the tax liability. The government will assess whether tax liability, including capital gains tax or institutional income tax, is created under the Income Tax Act, 2058, and assess and collect such liability.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20570', 'image' => '20240429024626_20231130105406_ncell.jpg', 'article_date' => '2024-04-29 14:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20842', 'article_category_id' => '1', 'title' => 'Air Pollution Pose Serious Health Risk for Children and Women', 'sub_title' => '', 'summary' => 'April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the study conducted by Save the Children, various health related problems such as asthma, lung and breathing problems, cough, skin irritation have appeared due to air pollution. The report mentions that it has had an adverse effect on the development of children, as well as problems in the health of pregnant women and a decrease in the average life expectancy.</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"">Ayush Joshi, director of communication and media of Save the Children, said that the study was conducted in Kathmandu and Saptari, which are among the districts most affected by air pollution in Nepal. He added that the study pointed out the need to analyze the overall welfare and development of children rather than looking at the effects of air pollution only in relation to health. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We are concerned that educational opportunities may be lost and the family's livelihood may also be affected when schools are closed and it is difficult to walk outside due to air pollution. In addition, pollution seems to have seriously affected the lives of children, women and underrepresented groups," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that since the existing development concept does not take into account the harmful effects of air pollution, it is necessary to take into account the lives of women, children and underrepresented groups in development.</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 report emphasizes the need for a strong policy for the overall welfare of children, and emphasizes the need to spread awareness about such policies at the public level and to address environmental problems.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20569', 'image' => '20240429021245_Untitled.jpg', 'article_date' => '2024-04-29 14:12:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20841', 'article_category_id' => '1', 'title' => 'Experts Urge Investors to Invest in Nepal with Full Confidence ', 'sub_title' => '', 'summary' => 'April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speakers of the first session of the Nepal Investment Summit that started in Kathmandu on Sunday said so while inviting the investors and argued that Nepal has created an investment-friendly environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barsha Man Pun, who chaired the plenary session titled Exploring Investment Opportunities in Nepal, urged the investors to consider the government's commitment to the legal reforms made through the ordinance issued recently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that intensive discussions were held with the private sector and the laws were amended based on the recommendations from the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also said the government is making tax-related laws more investment-friendly. Nepal is situated between the two giant and rising economic powers China and India, which have given a great opportunity for domestic and international investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former Finance Minister Dr Prakash Sharan Mahat said that Nepal has made sectoral priorities to bring in foreign investment concluding that “our internal sources were not sufficient” for Nepal's development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, economist and lawmaker Dr Swornim Wagle said a flexible legal environment was needed to facilitate investors in Nepal along with an effective mechanism in place for arbitration in case of some disputes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking on the occasion, UN Resident Coordinator Hanaa Singer-Hamdy said Nepal could explore new blended finance approaches that can crowd in the private sector, multiply development impact and create opportunities for the public sector to share risks and rewards fairly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said that as Nepal is preparing for LDC graduation in 2026, the UN will continue to work with the Government of Nepal and agencies to help increase the flow of sustainable investments. "We will continue to support the development of a strong business ecosystem with a vision for a sustainable, inclusive and green economy," she added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20568', 'image' => '20240429011714_20160513034506_editor.jpg', 'article_date' => '2024-04-29 13:16:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20839', 'article_category_id' => '1', 'title' => 'Nepal Investment Summit: Two Organisations Sign MoU for PPP Cooperation ', 'sub_title' => '', 'summary' => 'April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. ', '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 World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Ziad-Alexandre Hayek and NAPPP Chair Anup Kumar Upadhyay signed the document on behalf of their respective sides. Both parties have agreed to collaborate in matters of mutual concerns and exchange knowledge and experiences regarding public-private partnership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strengthening of physical infrastructure and PPP pipelines, preparations of PPP projects and programmes, and collaboration for the promotion of international exercises in the implementation, hosting of joint gatherings and assemblies, and publications of joint journals are among the contents of the MoU. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP Chairperson Anup Kumar Upadhyay said the cooperation between the WAPP and NAPPP is expected to help Nepal enhance its knowledge and capacity regarding the PPP and strengthen projects on PPP. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Hayek said Nepal has a long experience in the implementation of PPP-based projects and this approach has brought transformations mainly in the hydropower and clean energy sectors. Nepal's home-grown practices and its experiences are exemplary, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP with its headquarters in Geneva, Switzerland, is a global non-governmental organization. It helps its members achieve their professional goals and promotes best practices in PPP to align with UN SDGs, the WAPP said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP is said to be an association that brings together practitioners, professionals, and members from multiple sectors to promote collaboration, innovation, and efficiency in public-private partnerships and investment to contribute to sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Sakha and Company Private Limited and Anforman Group and BORE Hotel, China on Monday signed an agreement worth Rs 100 million for cooperation in hotel business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On Sunday, the opening day of the summit, <span style="font-family:"Arial Unicode MS","sans-serif"">the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Malaysia-based National Chamber of Commerce and Industry signed bilateral agreements aimed at exploring trade and investment promotion. </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 FNCCI President, Chandra Prasad Dhakal, and the President of the National Chamber of Commerce and Industry of Malaysia (NCCIM), Tan Sri Dato Soh Thian Lai, signed the documents on behalf of their respective sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two business entities from Nepal and India also entered into a cooperation agreement for the establishment and operation of a data center. BLC Group Nepal and Yotta Data Services Private Limited of India have reached an agreement in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Managing Director of BLC Group, Megha Chaudhary, and Yotta's Chief Executive Officer, Sunil Gupta, affixed their signatures to the agreement on behalf of their respective organizations. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20566', 'image' => '20240429123203_investment summit.jpg', 'article_date' => '2024-04-29 12:31:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20837', 'article_category_id' => '1', 'title' => 'Hydropower, a Major Area of Investment in Nepal, says Dr Mahat ', 'sub_title' => '', 'summary' => 'April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"India has signed a long-term agreement to import 10,000 MW of electricity while Bangladesh is also willing to import energy. There is no problem for market," he said during a session of the Nepal Investment Summit on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the session, Mahat said tourism, agriculture and information technology are other good areas for investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing Nepal as a hub for agricultural production, he said that it is an excellent destination for those who want to invest in agriculture </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Information technology sector exported services worth Rs 67 billion last year. With stability in the government policy, there is no market problem as Nepal lies between big economies like India and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former Finance Minister said that there is a need for large commercial investment rather than small personal investment in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20564', 'image' => '20240429115227_hydro.jpg', 'article_date' => '2024-04-29 11:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20836', 'article_category_id' => '1', 'title' => 'China not to Charge Visa Fees for Nepali Nationals ', 'sub_title' => '', 'summary' => 'April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting 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 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Embassy of China in Kathmandu has shared that no visa fee will be applied for Nepali nationals starting from May 1, 2024. It may be noted Nepal has been giving the same facility to Chinese citizens since 2016. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision comes following an agreement reached during the visit of Deputy Prime Minister and Foreign Minister Narayankaji Shrestha to China last March. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Embassy of China in Kathmandu said that visa fees will not be applied for Nepali citizens so as to promote friendship between the two countries and facilitate the exchange of visits. Express charges and services however will remain as before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali tourism entrepreneurs had been demanding charge-free visas for Nepalis since a long time. With this new provision, Nepali nationals can easily go to China and the traffic in both directions will have a positive effect on the tourism sector, said Maniraj Lamichhane, Director of Nepal Tourism Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to statistics provided by the NTB, the arrival of Chinese tourists has been increasing in 2024. A total of 12,093 Chinese tourists arrived in Nepal in the month of March. The number was 9,180 in February and 1,436 in January. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2023, altogether 60,878 Chinese tourists had visited Nepal. Before the coronavirus pandemic, the highest number of Chinese tourists visiting Nepal was in 2019 that stood at 169,543. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20563', 'image' => '20240429112857_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-04-29 11:28:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20835', 'article_category_id' => '1', 'title' => 'NAC Aircraft Returns after Maintenance in Israel', 'sub_title' => '', 'summary' => 'April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NAC Spokesperson Ramesh Poudel, the narrow-body aircraft with call sign 9N-AKX landed at Tribhuvan International Airport (TIA) on Saturday evening after its maintenance in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that the NA aircraft had flown to Israel for repair at the Maintenance, Repair, and Overhaul (MRO) Company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a press statement, NAC Spokesperson Poudel stated that the maintenance and repair works were delayed due the lack of spare parts and accessories. The plane was grounded on December 1, 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NAC has two narrow-body and two wide-body aircraft for international flights. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20562', 'image' => '20240428062817_NAC narrow body.jpg', 'article_date' => '2024-04-28 18:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20834', 'article_category_id' => '1', 'title' => 'NEPSE Posts Gain of 14.33 Points to Close at 1980.27', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a gain of 0.72%, or 14.33 points, closing at 1,980.27 points on the first trading day of the week on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">April 28: The Nepal Stock Exchange (NEPSE) Index saw a gain of 0.72%, or 14.33 points, closing at 1,980.27 points on the first trading day of the week on Sunday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">During today’s trading session, 308 different stocks were traded in the NEPSE through 48,183 transactions. The total volume of shares traded stood at 6,878,159, resulting in a total turnover of Rs. 2.68 billion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Pokhara Finance Ltd. (PFL) led the turnover amount with a turnover of Rs. 13.05 Crore, closing at a market price of Rs. 665.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Similarly, Pokhara Finance Ltd. (PFL) saw the highest gain of 9.02%, followed by Progressive Finance Limited (PROFL) with a gain of 7.62%.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">In terms of sector indices, only one sector Index closed in negative territory. The finance Index experienced the maximum gain of 3.98% while the Trading Index incurred the loss of 0.34%.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20561', 'image' => '20240428061950_collage (1).jpg', 'article_date' => '2024-04-28 18:18:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20833', 'article_category_id' => '1', 'title' => 'CNI President Highlights Nepal's Conducive Investment Climate at Investment Summit ', 'sub_title' => '', 'summary' => 'April 28: President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal said that the government is creating a conducive environment for investment in Nepal by taking the private sector in confidence. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal said that the government is creating a conducive environment for investment in Nepal by taking the private sector in confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the inaugural session of the Third Investment Summit in Kathmandu on Sunday, he urged the foreign investors to invest in Nepal as there is ample possibilities in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the summit marks a pivotal moment in our nation's journey towards prosperity and growth, the CNI President Agrawal said: "Nepal, with its abundant natural resources, cultural diversity, and strategic location, presents a wealth of opportunities for investors seeking to make a positive impact while achieving sustainable returns." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He stated that Nepal offers a fertile ground for innovation, entrepreneurship, and inclusive growth from tourism to technology, infrastructure development to renewable energy, education to healthcare, and extended a warm welcome to investors from around the world, inviting them to explore the myriad investment prospects that Nepal has to offer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI president called on investors to seize this moment to capitalize on the momentum generated by this summit and translate it into tangible investments that drive job creation, infrastructure development, and socio-economic progress, urging them to explore the diverse array of opportunities that Nepal offers across various sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal's unparalleled natural beauty, including the majestic Himalayan range and diverse cultural heritage, makes it a prime destination for adventure seekers, nature enthusiasts, and cultural tourists. With a strategic focus on sustainable tourism practices, there is significant room for investment in eco-friendly accommodations, adventure tourism services, and infrastructure development,” he said, adding, “As the country continues to invest in improving connectivity and promoting its unique attractions, the tourism industry is poised for substantial growth, providing lucrative opportunities for investors seeking to capitalize on Nepal's burgeoning tourism market.”</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Agrawal, Nepal has been making strides to position itself as an emerging IT hub in the South Asian region. </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"">“Nepal's exports of IT services experienced an extraordinary surge, reaching a remarkable figure of USD 515.4 million in the year 2022. This significant achievement catapulted IT services to the forefront, emerging as the country's top exportable product. It has opened doors to new opportunities, fueled by a rich pool of talent and a conducive business environment." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He added that hydropower represents a crucial sector for investment in Nepal, given its abundant water resources and the potential to generate clean energy.</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"">Investments in the development of hydropower infrastructure not only contribute to Nepal's energy security but also offer export opportunities to neighboring countries, he further stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal holds untapped potential for investors across diverse sectors, including education, healthcare, tea, real estate, and textiles. In the education sector, there is a unique opportunity to establish Nepal as an education hub, leveraging its cultural richness and serene environment. Investing in world-class educational institutions, research facilities, and vocational training centers can attract both domestic and international students. </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"">“By developing a robust educational ecosystem, investors can contribute to shaping Nepal as a knowledge destination, fostering intellectual growth and socio-economic development.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Agrawal pointed out that healthcare presents a significant investment avenue, with the potential to establish Nepal as a medical hub. Investing in state-of-the-art medical facilities, specialized treatment centers, and research institutions can not only cater to the local population but also attract medical tourists from neighboring countries, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The country's serene environment can offer a conducive setting for recovery and wellness, making it an appealing destination for medical tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am glad to share you all that the government has responded to the requests of private sectors such as CNI by amending various laws and regulations. It brings me great satisfaction to recognize and commend the proactive measures taken by the government through recent amendments in a multitude of laws and regulations. These actions underscore the government's unwavering commitment to nurturing a conducive investment climate within the country. The amendments, enacted through ordinances, signify a forward-looking approach aimed at streamlining processes and enhancing the ease of doing business." -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20560', 'image' => '20240428022347_6F8A1993.jpg', 'article_date' => '2024-04-28 14:22:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20832', 'article_category_id' => '1', 'title' => 'FNCCI President Urges Investors to Explore Nepal's Potential Sectors ', 'sub_title' => '', 'summary' => 'April 28: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has urged investors from around the world to seize the opportunity and invest in Nepal's burgeoning economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has urged investors from around the world to seize the opportunity and invest in Nepal's burgeoning economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the 3rd Nepal Investment Summit 2024, he emphasized the country's colossal untapped sectors and its potential as an investment destination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal highlighted Nepal's strategic location between the economic powerhouses of China and India, underscoring its significance as a gateway to vast markets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He emphasized the abundant opportunities across various sectors, including tourism, infrastructure, energy, agriculture, technology, and ICT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI president particularly highlighted the immense potential in renewable energy, citing recent agreements for power trade with India and Bangladesh as indicators of Nepal's capability in hydropower generation and regional trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also underscored the need for modern infrastructure in tourism, agriculture, and technology sectors to harness Nepal's rich cultural heritage, natural beauty, and young, dynamic workforce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, Dhakal emphasized the importance of investing in technical education to bridge the gap between demand and supply of skilled human resources, thereby boosting both domestic employment and remittance inflows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He commended the government's efforts in implementing business-friendly policies and initiatives to facilitate foreign investment, including recent amendments and bilateral investment agreements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Highlighting FNCCI's role in boosting investors’ confidence through international business summits in New Delhi, Beijing, and Dubai, Dhakal assured continuous support and commitment from the private sector for joint ventures in all potential areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared his belief in Nepal's emerging growth story and encouraged forging partnerships to chart a path towards sustainable development and prosperity. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20559', 'image' => '20240428022227_PradeeprajOnta_KTM_RSS_16_6F8A2068.jpg', 'article_date' => '2024-04-28 14:21:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20831', 'article_category_id' => '1', 'title' => 'Nepal is Committed to Liberal Economic Policy: PM Dahal ', 'sub_title' => '', 'summary' => 'April 28: Prime Minister Pushpa Kamal Dahal has said Nepal is a suitable destination for investment, calling upon the investors from across the globe to seize the opportunity and benefit from it. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Prime Minister Pushpa Kamal Dahal has said Nepal is a suitable destination for investment, calling upon the investors from across the globe to seize the opportunity and benefit from it. </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 prime minister made this remark while inaugurating the Nepal Investment Summit 2024 in Kathmandu on Sunday. On the occasion, the PM asserted that there are immense opportunities for investment in Nepal and it has potential for investment from the legal, geographical and strategic perspective as well. </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"">Stating that Nepal is fully committed to a liberal economic policy, he reassured that an investment-friendly environment has been created in the country. The prime minister said Nepal is continuously moving ahead towards creating a friendly environment for the investors, industrialists, entrepreneurs and innovators. In this connection, he added, eight various laws related to business and investment have been amended. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Finance Minister Barshaman Pun has asserted that Nepal is an attractive destination for international investment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Finance Minister, the key objectives of the Summit are: To project Nepal as an emerging destination for private sector investment; to highlight recent reforms in enhancing the investment climate and ensuring regulatory frameworks that support foreign as well as domestic investment, to showcase a wide range of projects across different sectors, including investment-ready projects; to facilitate productive negotiations and come up with a number of agreements and Memoranda of Understanding (MOUs) between investors and stakeholders, advancing project development and management objectives; and to provide a platform for networking opportunities among the policymakers, investors, experts and other stakeholders to share ideas and views as well as encourage joint ventures in areas such as industry and infrastructure development. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Nepali Congress President and former Prime Minister Sher Bahadur Deuba said Nepal’s investment regime is now liberal in terms of sectors open for foreign investment, tax policies and repatriation of earnings. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to main opposition party leader, foreign investment is protected by domestic law and various international instruments to which Nepal is a signatory to. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20558', 'image' => '20240428020633_PradeeprajOnta_KTM_RSS_16_6F8A1917.jpg', 'article_date' => '2024-04-28 14:05:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20830', 'article_category_id' => '1', 'title' => 'President Issues Ordinance to Facilitate Investment ', 'sub_title' => '', 'summary' => 'April 28: President Ram Chandra Paudel has issued the Ordinance Amending Some Nepal Acts Related to Investment Facilitation, 2081. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President Ram Chandra Paudel has issued the Ordinance Amending Some Nepal Acts Related to Investment Facilitation, 2081. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The President issued the ordinance upon the recommendation of the Council of Ministers in accordance with the Article 114 (1) of the Constitution of Nepal, states a communiqué signed by Shailaja Regmi Bhattarai, the spokesperson at the Office of the President. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ordinance was issued to facilitate investors in the context of the Third Investment Summit that kicked off in the federal capital on Sunday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20557', 'image' => '20240428010446_20230716044618_collage (1).jpg', 'article_date' => '2024-04-28 13:04:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit witnessed the approval of investments worth Rs 9.13 billion for four different projects through the Department of Industry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The investors who attended the two-day summit agreed to invest Rs 6 billion for establishing an investment company in Bhaktapur, Rs 3 billion for a business complex building in Kathmandu, Rs 76.6 million for 200 KW hydropower project in Kailali and Rs 62.5 million for the construction of hotels and restaurants in Lalitpur district, according to Director of the foreign investment and technology transfer unit under the Department of Industry, Shankar Singh Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the summit, the department inaugurated the system of approval of foreign investment through the automatic route. 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 automatic route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Foreign investors will be able to apply through the new system effective from April 29 and receive the letter of approval for foreign investment as soon as they submit their application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has not specified any minimum investment limit while approving foreign investment through automatic route for information technology-based industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The automatic route is expected to save the investors' time and money required for making investments in Nepal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20573', 'image' => '20240429072741_20220227052247_20160222122813_ep3.jpg', 'article_date' => '2024-04-29 19:26:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20845', 'article_category_id' => '1', 'title' => 'Sita Air makes Emergency Landing at TIA', 'sub_title' => '', 'summary' => 'April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: An aircraft operated by Sita Air was forced to make an emergency landing at the Tribhuvan International Airport (TIA) soon after takeoff from the airport on Monday morning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the airport sources, the aircraft which was carrying passengers from Kathmandu to Ramechhap returned back to Kathmandu due to a hydraulic issue.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Jagannath Niraoula, General Manager of TIA, the plane departed for Ramechhap at 9:30 am but swiftly returned back after encountering the problem. Fortunately, the aircraft managed to land safely during the emergency situation, he told the state-owned RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation industry of Nepal has faced significant challenges in maintaining safety standards over the years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides the country's difficult topography, adverse weather conditions, and limited infrastructure, all airline companies operating in Nepal use second-hand or even older aircraft for regular flights as well as cargo flights within the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal's airliners have been on the EU's air safety blacklist since 2013 due to significant aviation security concerns.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20572', 'image' => '20240429063704_s.jpg', 'article_date' => '2024-04-29 18:36:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20844', 'article_category_id' => '1', 'title' => 'Australian Investment Roped in for Building Resort in Rara ', 'sub_title' => '', 'summary' => 'April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: The Third Investment Summit has succeeded in ensuring Australian investment for opening a luxurious resort in the vicinity of Rara Lake area of Mugu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Expert Group of Australia reached an agreement with a local partner for investment in the resort on the second day of the Investment Summit on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Badri Aryal and Sanjeev Sharma on behalf the Expert Group and Abhisek Bikram Shah on behalf of Rara Holdings Resort Pvt Ltd signed the MoU for the investment collaboration. </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, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, they have set a target to construct the resort within one and half years. The detailed project report for the resort has been already prepared. The resort will be constructed using the local resources and reflecting the local culture, he added. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">NCC and Croatian private sector sign MoU for collaboration on trade and tourism</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Meanwhile, Nepal Chamber of Commerce (NCC) and a business delegation from Croatia have signed a memorandum of understanding (MoU) for collaboration on trade and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to NCC, it reached an understanding with the Croatian delegation regarding trade facilitation and investment in the tourism sector on the sideline of the Third Investment Summit in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC showcased score of projects related to hydropower development, hotel industry among others in the summit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NCC president Kamalesh Kumar Agrawal told RSS that NCC and the Croatian business delegation discussed the investment environment, profits, consumer market and legal regime, among other topics on the occasion. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20571', 'image' => '20240429062147_20240130024837_investment.jpg', 'article_date' => '2024-04-29 18:21:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20843', 'article_category_id' => '1', 'title' => 'Government to Take Control of Ncell's Assets after 5 Years', 'sub_title' => '', 'summary' => 'April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 29: The government has decided to take control of the assets of the private sector telecommunication company Ncell after five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Section 33 of the Telecommunication Act 2053 allows the government to take control of the land, buildings, devices, equipment and structures related to telecommunication services after the expiry of the 25-year license period of a telecommunication company with more than 50 percent foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">If the same company wishes to renew the license, it can do so by paying the full price fixed after evaluating the company’s property. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">After realizing that the ownership of the assets of Ncell would be transferred to the government, Malaysia-based Axiata which owned majority of shares of Ncell, announced on December 1, 2023 to sell the shares of Reynolds Holding Company, which owns 80 percent of the shares in Ncell, to Spectralite UK Limited. Axiata owns 100% of the shares in Reynolds Holding, which is registered in St. Kitts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spectralite UK Limited is owned by Satishlal Acharya, a Singspore-based businessman of Nepali origin. This is a company registered in Britain in September 2023. Acharya's wife, Bhavna Singh, owns 20% of Ncell shares under Sunivera Capital Venture. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata’s decision to sell its stakes in Ncell was criticized by the Nepal Telecommunication Authority, the regulatory body of telecommunication sector of Nepal, stating that the agreement was reached without the consent of the NTA.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government constituted a high-level inquiry committee led by former Auditor General Tankmani Sharma. After studying the committee's suggestions, the government decided not to implement the agreement between Axiata and Spectralight UK Limited. The Council of Ministers took this decision on February 18 but the decision was made public only on last Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ncell's GSM Cellular Mobile Service License issued on September 1, 2004, is about to expire at the end of August 2024. The company will have to renew its license for the third and final time for the next five years, i.e., by 2029. The government has decided to renew the license only on the condition that the company comes under government ownership after August 31, 2029. The government will decide whether the renewal will be conditional for a period of five years. Additionally, the government will further study the recent change of ownership of Ncell, which is in the process of license renewal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To ensure the continuity of the services operated by the company, the government has decided to renew the license on the condition that the licensee has confirmed technical, financial, and administrative capacity and comes under government ownership after 25 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the cabinet decision, the government has decided to take regulatory action against buying and selling shares without prior approval.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Axiata Berhad had referred a tax-related dispute to the International Center for Settlement of Investment Disputes (ICSID), which decided in favor of the government last June. The Council of Ministers refuted Axiata Berhad's allegations of imposing unfair tax in Nepal as baseless.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Given that the company's tax audit is pending from the financial year 2076/77, the government has decided to immediately conduct the tax audit and determine the tax liability. The government will assess whether tax liability, including capital gains tax or institutional income tax, is created under the Income Tax Act, 2058, and assess and collect such liability.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20570', 'image' => '20240429024626_20231130105406_ncell.jpg', 'article_date' => '2024-04-29 14:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20842', 'article_category_id' => '1', 'title' => 'Air Pollution Pose Serious Health Risk for Children and Women', 'sub_title' => '', 'summary' => 'April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 29: A recent study conducted by Save the Children has shown that the recent increase in air pollution has increased various health risks among children and women.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the study conducted by Save the Children, various health related problems such as asthma, lung and breathing problems, cough, skin irritation have appeared due to air pollution. The report mentions that it has had an adverse effect on the development of children, as well as problems in the health of pregnant women and a decrease in the average life expectancy.</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"">Ayush Joshi, director of communication and media of Save the Children, said that the study was conducted in Kathmandu and Saptari, which are among the districts most affected by air pollution in Nepal. He added that the study pointed out the need to analyze the overall welfare and development of children rather than looking at the effects of air pollution only in relation to health. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"We are concerned that educational opportunities may be lost and the family's livelihood may also be affected when schools are closed and it is difficult to walk outside due to air pollution. In addition, pollution seems to have seriously affected the lives of children, women and underrepresented groups," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that since the existing development concept does not take into account the harmful effects of air pollution, it is necessary to take into account the lives of women, children and underrepresented groups in development.</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 report emphasizes the need for a strong policy for the overall welfare of children, and emphasizes the need to spread awareness about such policies at the public level and to address environmental problems.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20569', 'image' => '20240429021245_Untitled.jpg', 'article_date' => '2024-04-29 14:12:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20841', 'article_category_id' => '1', 'title' => 'Experts Urge Investors to Invest in Nepal with Full Confidence ', 'sub_title' => '', 'summary' => 'April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Stakeholders and experts familiar with the country's business environment and profitability have appealed to domestic and international investors to invest in Nepal with full confidence while urging them not to worry about the returns of their investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speakers of the first session of the Nepal Investment Summit that started in Kathmandu on Sunday said so while inviting the investors and argued that Nepal has created an investment-friendly environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barsha Man Pun, who chaired the plenary session titled Exploring Investment Opportunities in Nepal, urged the investors to consider the government's commitment to the legal reforms made through the ordinance issued recently. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that intensive discussions were held with the private sector and the laws were amended based on the recommendations from the private sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Pun also said the government is making tax-related laws more investment-friendly. Nepal is situated between the two giant and rising economic powers China and India, which have given a great opportunity for domestic and international investments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, former Finance Minister Dr Prakash Sharan Mahat said that Nepal has made sectoral priorities to bring in foreign investment concluding that “our internal sources were not sufficient” for Nepal's development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, economist and lawmaker Dr Swornim Wagle said a flexible legal environment was needed to facilitate investors in Nepal along with an effective mechanism in place for arbitration in case of some disputes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking on the occasion, UN Resident Coordinator Hanaa Singer-Hamdy said Nepal could explore new blended finance approaches that can crowd in the private sector, multiply development impact and create opportunities for the public sector to share risks and rewards fairly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said that as Nepal is preparing for LDC graduation in 2026, the UN will continue to work with the Government of Nepal and agencies to help increase the flow of sustainable investments. "We will continue to support the development of a strong business ecosystem with a vision for a sustainable, inclusive and green economy," she added. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20568', 'image' => '20240429011714_20160513034506_editor.jpg', 'article_date' => '2024-04-29 13:16:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20839', 'article_category_id' => '1', 'title' => 'Nepal Investment Summit: Two Organisations Sign MoU for PPP Cooperation ', 'sub_title' => '', 'summary' => 'April 29: The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. ', '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 World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) for bilateral cooperation during the Third Investment Summit underway in Kathmandu since Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Ziad-Alexandre Hayek and NAPPP Chair Anup Kumar Upadhyay signed the document on behalf of their respective sides. Both parties have agreed to collaborate in matters of mutual concerns and exchange knowledge and experiences regarding public-private partnership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Strengthening of physical infrastructure and PPP pipelines, preparations of PPP projects and programmes, and collaboration for the promotion of international exercises in the implementation, hosting of joint gatherings and assemblies, and publications of joint journals are among the contents of the MoU. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP Chairperson Anup Kumar Upadhyay said the cooperation between the WAPP and NAPPP is expected to help Nepal enhance its knowledge and capacity regarding the PPP and strengthen projects on PPP. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP President Hayek said Nepal has a long experience in the implementation of PPP-based projects and this approach has brought transformations mainly in the hydropower and clean energy sectors. Nepal's home-grown practices and its experiences are exemplary, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WAPP with its headquarters in Geneva, Switzerland, is a global non-governmental organization. It helps its members achieve their professional goals and promotes best practices in PPP to align with UN SDGs, the WAPP said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAPPP is said to be an association that brings together practitioners, professionals, and members from multiple sectors to promote collaboration, innovation, and efficiency in public-private partnerships and investment to contribute to sustainable development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Sakha and Company Private Limited and Anforman Group and BORE Hotel, China on Monday signed an agreement worth Rs 100 million for cooperation in hotel business. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On Sunday, the opening day of the summit, <span style="font-family:"Arial Unicode MS","sans-serif"">the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Malaysia-based National Chamber of Commerce and Industry signed bilateral agreements aimed at exploring trade and investment promotion. </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 FNCCI President, Chandra Prasad Dhakal, and the President of the National Chamber of Commerce and Industry of Malaysia (NCCIM), Tan Sri Dato Soh Thian Lai, signed the documents on behalf of their respective sides. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, two business entities from Nepal and India also entered into a cooperation agreement for the establishment and operation of a data center. BLC Group Nepal and Yotta Data Services Private Limited of India have reached an agreement in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Managing Director of BLC Group, Megha Chaudhary, and Yotta's Chief Executive Officer, Sunil Gupta, affixed their signatures to the agreement on behalf of their respective organizations. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20566', 'image' => '20240429123203_investment summit.jpg', 'article_date' => '2024-04-29 12:31:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20837', 'article_category_id' => '1', 'title' => 'Hydropower, a Major Area of Investment in Nepal, says Dr Mahat ', 'sub_title' => '', 'summary' => 'April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Nepali Congress Spokesperson and former Finance Minister Dr Prakash Sharan Mahat has said that hydropower is the major area of investment in Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"India has signed a long-term agreement to import 10,000 MW of electricity while Bangladesh is also willing to import energy. There is no problem for market," he said during a session of the Nepal Investment Summit on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the session, Mahat said tourism, agriculture and information technology are other good areas for investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Describing Nepal as a hub for agricultural production, he said that it is an excellent destination for those who want to invest in agriculture </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Information technology sector exported services worth Rs 67 billion last year. With stability in the government policy, there is no market problem as Nepal lies between big economies like India and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The former Finance Minister said that there is a need for large commercial investment rather than small personal investment in Nepal. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20564', 'image' => '20240429115227_hydro.jpg', 'article_date' => '2024-04-29 11:51:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20836', 'article_category_id' => '1', 'title' => 'China not to Charge Visa Fees for Nepali Nationals ', 'sub_title' => '', 'summary' => 'April 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting 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 28: The People's Republic of China has decided not to charge visa fees for Nepali citizens visiting the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Embassy of China in Kathmandu has shared that no visa fee will be applied for Nepali nationals starting from May 1, 2024. It may be noted Nepal has been giving the same facility to Chinese citizens since 2016. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision comes following an agreement reached during the visit of Deputy Prime Minister and Foreign Minister Narayankaji Shrestha to China last March. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Sunday, the Embassy of China in Kathmandu said that visa fees will not be applied for Nepali citizens so as to promote friendship between the two countries and facilitate the exchange of visits. Express charges and services however will remain as before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali tourism entrepreneurs had been demanding charge-free visas for Nepalis since a long time. With this new provision, Nepali nationals can easily go to China and the traffic in both directions will have a positive effect on the tourism sector, said Maniraj Lamichhane, Director of Nepal Tourism Board. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to statistics provided by the NTB, the arrival of Chinese tourists has been increasing in 2024. A total of 12,093 Chinese tourists arrived in Nepal in the month of March. The number was 9,180 in February and 1,436 in January. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the year 2023, altogether 60,878 Chinese tourists had visited Nepal. Before the coronavirus pandemic, the highest number of Chinese tourists visiting Nepal was in 2019 that stood at 169,543. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-29', 'modified' => '2024-04-29', 'keywords' => '', 'description' => '', 'sortorder' => '20563', 'image' => '20240429112857_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-04-29 11:28:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20835', 'article_category_id' => '1', 'title' => 'NAC Aircraft Returns after Maintenance in Israel', 'sub_title' => '', 'summary' => 'April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 28: An aircraft of Nepal Airlines Corporation (NAC) has returned back to Kathmandu after five months following its repair in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NAC Spokesperson Ramesh Poudel, the narrow-body aircraft with call sign 9N-AKX landed at Tribhuvan International Airport (TIA) on Saturday evening after its maintenance in Israel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson Poudel said that the NA aircraft had flown to Israel for repair at the Maintenance, Repair, and Overhaul (MRO) Company.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a press statement, NAC Spokesperson Poudel stated that the maintenance and repair works were delayed due the lack of spare parts and accessories. The plane was grounded on December 1, 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NAC has two narrow-body and two wide-body aircraft for international flights. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20562', 'image' => '20240428062817_NAC narrow body.jpg', 'article_date' => '2024-04-28 18:27:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20834', 'article_category_id' => '1', 'title' => 'NEPSE Posts Gain of 14.33 Points to Close at 1980.27', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a gain of 0.72%, or 14.33 points, closing at 1,980.27 points on the first trading day of the week on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">April 28: The Nepal Stock Exchange (NEPSE) Index saw a gain of 0.72%, or 14.33 points, closing at 1,980.27 points on the first trading day of the week on Sunday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Open Sans",sans-serif">During today’s trading session, 308 different stocks were traded in the NEPSE through 48,183 transactions. The total volume of shares traded stood at 6,878,159, resulting in a total turnover of Rs. 2.68 billion.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Pokhara Finance Ltd. (PFL) led the turnover amount with a turnover of Rs. 13.05 Crore, closing at a market price of Rs. 665.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">Similarly, Pokhara Finance Ltd. (PFL) saw the highest gain of 9.02%, followed by Progressive Finance Limited (PROFL) with a gain of 7.62%.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Open Sans",sans-serif">In terms of sector indices, only one sector Index closed in negative territory. The finance Index experienced the maximum gain of 3.98% while the Trading Index incurred the loss of 0.34%.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20561', 'image' => '20240428061950_collage (1).jpg', 'article_date' => '2024-04-28 18:18:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20833', 'article_category_id' => '1', 'title' => 'CNI President Highlights Nepal's Conducive Investment Climate at Investment Summit ', 'sub_title' => '', 'summary' => 'April 28: President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal said that the government is creating a conducive environment for investment in Nepal by taking the private sector in confidence. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal said that the government is creating a conducive environment for investment in Nepal by taking the private sector in confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the inaugural session of the Third Investment Summit in Kathmandu on Sunday, he urged the foreign investors to invest in Nepal as there is ample possibilities in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the summit marks a pivotal moment in our nation's journey towards prosperity and growth, the CNI President Agrawal said: "Nepal, with its abundant natural resources, cultural diversity, and strategic location, presents a wealth of opportunities for investors seeking to make a positive impact while achieving sustainable returns." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He stated that Nepal offers a fertile ground for innovation, entrepreneurship, and inclusive growth from tourism to technology, infrastructure development to renewable energy, education to healthcare, and extended a warm welcome to investors from around the world, inviting them to explore the myriad investment prospects that Nepal has to offer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI president called on investors to seize this moment to capitalize on the momentum generated by this summit and translate it into tangible investments that drive job creation, infrastructure development, and socio-economic progress, urging them to explore the diverse array of opportunities that Nepal offers across various sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Nepal's unparalleled natural beauty, including the majestic Himalayan range and diverse cultural heritage, makes it a prime destination for adventure seekers, nature enthusiasts, and cultural tourists. With a strategic focus on sustainable tourism practices, there is significant room for investment in eco-friendly accommodations, adventure tourism services, and infrastructure development,” he said, adding, “As the country continues to invest in improving connectivity and promoting its unique attractions, the tourism industry is poised for substantial growth, providing lucrative opportunities for investors seeking to capitalize on Nepal's burgeoning tourism market.”</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Agrawal, Nepal has been making strides to position itself as an emerging IT hub in the South Asian region. </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"">“Nepal's exports of IT services experienced an extraordinary surge, reaching a remarkable figure of USD 515.4 million in the year 2022. This significant achievement catapulted IT services to the forefront, emerging as the country's top exportable product. It has opened doors to new opportunities, fueled by a rich pool of talent and a conducive business environment." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He added that hydropower represents a crucial sector for investment in Nepal, given its abundant water resources and the potential to generate clean energy.</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"">Investments in the development of hydropower infrastructure not only contribute to Nepal's energy security but also offer export opportunities to neighboring countries, he further stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal holds untapped potential for investors across diverse sectors, including education, healthcare, tea, real estate, and textiles. In the education sector, there is a unique opportunity to establish Nepal as an education hub, leveraging its cultural richness and serene environment. Investing in world-class educational institutions, research facilities, and vocational training centers can attract both domestic and international students. </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"">“By developing a robust educational ecosystem, investors can contribute to shaping Nepal as a knowledge destination, fostering intellectual growth and socio-economic development.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Agrawal pointed out that healthcare presents a significant investment avenue, with the potential to establish Nepal as a medical hub. Investing in state-of-the-art medical facilities, specialized treatment centers, and research institutions can not only cater to the local population but also attract medical tourists from neighboring countries, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The country's serene environment can offer a conducive setting for recovery and wellness, making it an appealing destination for medical tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am glad to share you all that the government has responded to the requests of private sectors such as CNI by amending various laws and regulations. It brings me great satisfaction to recognize and commend the proactive measures taken by the government through recent amendments in a multitude of laws and regulations. These actions underscore the government's unwavering commitment to nurturing a conducive investment climate within the country. The amendments, enacted through ordinances, signify a forward-looking approach aimed at streamlining processes and enhancing the ease of doing business." -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20560', 'image' => '20240428022347_6F8A1993.jpg', 'article_date' => '2024-04-28 14:22:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20832', 'article_category_id' => '1', 'title' => 'FNCCI President Urges Investors to Explore Nepal's Potential Sectors ', 'sub_title' => '', 'summary' => 'April 28: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has urged investors from around the world to seize the opportunity and invest in Nepal's burgeoning economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has urged investors from around the world to seize the opportunity and invest in Nepal's burgeoning economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the 3rd Nepal Investment Summit 2024, he emphasized the country's colossal untapped sectors and its potential as an investment destination. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dhakal highlighted Nepal's strategic location between the economic powerhouses of China and India, underscoring its significance as a gateway to vast markets. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He emphasized the abundant opportunities across various sectors, including tourism, infrastructure, energy, agriculture, technology, and ICT. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The FNCCI president particularly highlighted the immense potential in renewable energy, citing recent agreements for power trade with India and Bangladesh as indicators of Nepal's capability in hydropower generation and regional trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also underscored the need for modern infrastructure in tourism, agriculture, and technology sectors to harness Nepal's rich cultural heritage, natural beauty, and young, dynamic workforce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, Dhakal emphasized the importance of investing in technical education to bridge the gap between demand and supply of skilled human resources, thereby boosting both domestic employment and remittance inflows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He commended the government's efforts in implementing business-friendly policies and initiatives to facilitate foreign investment, including recent amendments and bilateral investment agreements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Highlighting FNCCI's role in boosting investors’ confidence through international business summits in New Delhi, Beijing, and Dubai, Dhakal assured continuous support and commitment from the private sector for joint ventures in all potential areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared his belief in Nepal's emerging growth story and encouraged forging partnerships to chart a path towards sustainable development and prosperity. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20559', 'image' => '20240428022227_PradeeprajOnta_KTM_RSS_16_6F8A2068.jpg', 'article_date' => '2024-04-28 14:21:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20831', 'article_category_id' => '1', 'title' => 'Nepal is Committed to Liberal Economic Policy: PM Dahal ', 'sub_title' => '', 'summary' => 'April 28: Prime Minister Pushpa Kamal Dahal has said Nepal is a suitable destination for investment, calling upon the investors from across the globe to seize the opportunity and benefit from it. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: Prime Minister Pushpa Kamal Dahal has said Nepal is a suitable destination for investment, calling upon the investors from across the globe to seize the opportunity and benefit from it. </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 prime minister made this remark while inaugurating the Nepal Investment Summit 2024 in Kathmandu on Sunday. On the occasion, the PM asserted that there are immense opportunities for investment in Nepal and it has potential for investment from the legal, geographical and strategic perspective as well. </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"">Stating that Nepal is fully committed to a liberal economic policy, he reassured that an investment-friendly environment has been created in the country. The prime minister said Nepal is continuously moving ahead towards creating a friendly environment for the investors, industrialists, entrepreneurs and innovators. In this connection, he added, eight various laws related to business and investment have been amended. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Finance Minister Barshaman Pun has asserted that Nepal is an attractive destination for international investment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Finance Minister, the key objectives of the Summit are: To project Nepal as an emerging destination for private sector investment; to highlight recent reforms in enhancing the investment climate and ensuring regulatory frameworks that support foreign as well as domestic investment, to showcase a wide range of projects across different sectors, including investment-ready projects; to facilitate productive negotiations and come up with a number of agreements and Memoranda of Understanding (MOUs) between investors and stakeholders, advancing project development and management objectives; and to provide a platform for networking opportunities among the policymakers, investors, experts and other stakeholders to share ideas and views as well as encourage joint ventures in areas such as industry and infrastructure development. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Nepali Congress President and former Prime Minister Sher Bahadur Deuba said Nepal’s investment regime is now liberal in terms of sectors open for foreign investment, tax policies and repatriation of earnings. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to main opposition party leader, foreign investment is protected by domestic law and various international instruments to which Nepal is a signatory to. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20558', 'image' => '20240428020633_PradeeprajOnta_KTM_RSS_16_6F8A1917.jpg', 'article_date' => '2024-04-28 14:05:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20830', 'article_category_id' => '1', 'title' => 'President Issues Ordinance to Facilitate Investment ', 'sub_title' => '', 'summary' => 'April 28: President Ram Chandra Paudel has issued the Ordinance Amending Some Nepal Acts Related to Investment Facilitation, 2081. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 28: President Ram Chandra Paudel has issued the Ordinance Amending Some Nepal Acts Related to Investment Facilitation, 2081. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The President issued the ordinance upon the recommendation of the Council of Ministers in accordance with the Article 114 (1) of the Constitution of Nepal, states a communiqué signed by Shailaja Regmi Bhattarai, the spokesperson at the Office of the President. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ordinance was issued to facilitate investors in the context of the Third Investment Summit that kicked off in the federal capital on Sunday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-04-28', 'modified' => '2024-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '20557', 'image' => '20240428010446_20230716044618_collage (1).jpg', 'article_date' => '2024-04-28 13:04:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
