February 27: The government has presented Principles and Priorities of the Appropriation Bill for the fiscal year 2081-82 BS in parliament.…
February 27: The government has presented Principles and Priorities of the Appropriation Bill for the fiscal year 2081-82 BS in parliament.…
February 27: Prime Minister Pushpa Kamal Dahal has directed all stakeholders to immediately release the dues to the milk producers for the purchase of diary…
February 27: The World Trade Organization pushed for reform at a high-level ministerial meeting in Abu Dhabi Monday, warning that economic headwinds and geopolitical tensions are threatening global commerce and multilateral trading…
February 27: With the onset of the spring season, tourists have started to arrive on the Annapurna Circuit, a renowned foot trail which looked deserted until some time…
February 26: Nepal spent more than Rs 410 million for importing lipsticks from different countries in the first seven months of the current fiscal year (FY…
February 26: Cricket Association of Nepal (CAN) has decided to provide monthly remuneration of Rs 100,000 to each of the male cricketers listed in Grade…
February 26: Noted singer and musician Bhakta Raj Acharya passed away at the age of 82 on Monday.…
February 26: More than 120 WTO member states have finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles, the global trade body said…
February 26: Banks and financial institutions have deposited nearly Rs 100 billion in Nepal Rastra Bank in a single day.…
February 26: The Department of Immigration (DoI) has started issuing route permits for domestic and foreign tourists to visit restricted areas through electronic system (online), the state-owned RSS…
February 26: Stakeholders have expressed concern over the proposed Super Trishuli Hydropower Project, which poses existential crisis to the rafting…
February 26: The recommendation committee for the post of the chairman of the Securities Board of Nepal (SEBON), which is vacant since January 5, will start its work to recommend names for the post from this…
February 26: The Israel-Hamas war, ongoing fighting in Ukraine and rising tensions in the Indo-Pacific and Africa herald "what is likely to be a more dangerous decade," a British military think-tank recently…
February 26: The organisers of the Hult Prize have selected five proposals for the final round of the event from among 13 participating teams who pitched their innovative business ideas during the semifinals held at the Kathmandu…
February 25: The Department Revenue Investigation has started monitoring the case of misuse of the green lane of Birganj Dry Port in which prohibited goods were imported in the guise of other goods mentioned in the declaration…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]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' => '20356', 'article_category_id' => '1', 'title' => 'Government Presents Principles and Priorities of Appropriation Bill in Parliament', 'sub_title' => 'Parliament to Begin Discussions on Principles and Priorities of Appropriation Bill on March 4 ', 'summary' => 'February 27: The government has presented Principles and Priorities of the Appropriation Bill for the fiscal year 2081-82 BS in parliament. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: The government has presented Principles and Priorities of the Appropriation Bill for the fiscal year 2081-82 BS in parliament. The government amended the existing laws to present the bill three months before the announcement of the annual budget.</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"">Finance Minister Dr Prakash Sharan Mahat presented a proposal for discussing the principles and priorities of the Appropriation Bill (except taxation) at a meeting of the House of Representatives on Monday. While presenting the bill, Finance Minister Mahat claimed that the upcoming budget will elevate the country’s economy to the standard of global economy and will fulfill the basic needs of the people and also uplift the living standard of people facing financial hardship.</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 parliament will begin in-principle discussions on the Principles and Priorities of the Appropriation Bill for the upcoming fiscal year from March 4. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As scheduled by Speaker Devraj Ghimire, the deliberations on the principles and priorities of the Appropriation Bill will be held for seven days beginning on March 4 and conclude on March 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office-bearers of parliamentary parties should register name of lawmakers taking part in the deliberations at the Federal Parliament Secretariat one hour before the commencement of the session. The registration shall be made on the basis of the political representation in the parliament. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20083', 'image' => '20240227125703_Parliament.jpg', 'article_date' => '2024-02-27 12:56:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20355', 'article_category_id' => '1', 'title' => 'PM Directs to Immediately Release Dues of Milk to Farmers ', 'sub_title' => '', 'summary' => 'February 27: Prime Minister Pushpa Kamal Dahal has directed all stakeholders to immediately release the dues to the milk producers for the purchase of diary products. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: Prime Minister Pushpa Kamal Dahal has directed all stakeholders to immediately release the dues to the milk producers for the purchase of diary products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM summoned Finance Minister Dr Prakash Sharan Mahat, Minister for Agriculture and Livestock Development Dr Beduram Bhusal and Chief Secretary Dr Baikuntha Aryal at his office on Monday and directed them to ensure the release of the outstanding dues to the farmers immediately.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the PM's Secretariat, the PM has directed the government authorities to make sure that the farmers receive payments from the private sector as well and to initiate action in case the payment is not done.</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"">"What is the reason for the non-payment to farmers for several months? Take this issue seriously. Make facilitation to immediately pay the amount for the farmers from the private sector," the PM directed the ministers. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20082', 'image' => '20240227114913_milk.jpg', 'article_date' => '2024-02-27 11:48:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20354', 'article_category_id' => '1', 'title' => 'Geopolitical Tensions Threatening Global Commerce and Multilateral Trading Systems: WTO', 'sub_title' => '', 'summary' => 'February 27: The World Trade Organization pushed for reform at a high-level ministerial meeting in Abu Dhabi Monday, warning that economic headwinds and geopolitical tensions are threatening global commerce and multilateral trading systems.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">February 27: The World Trade Organization pushed for reform at a high-level ministerial meeting in Abu Dhabi Monday, warning that economic headwinds and geopolitical tensions are threatening global commerce and multilateral trading systems.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the United Arab Emirates, is the first in two years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO is hoping for progress, particularly on fishing, agriculture and electronic commerce.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">But big deals are unlikely as the body's rules require full consensus among all 164 member states -- a tall order in the current climate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Speaking on the first day of MC13, WTO Director-General Ngozi Okonjo-Iweala said that "multilateralism is under attack from all sides," highlighting a need to "reform the multilateral trading system" and boost international cooperation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"Looking around, uncertainty and instability are everywhere," the WTO chief said, adding that the world is in an "even tougher place today" compared to two years ago when WTO trade ministers last met.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Okonjo-Iweala did not name countries, but tensions have risen between the West and Russia and China in recent years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The war in Gaza and related attacks by Yemeni rebels on ships in the Red Sea have added to the challenges.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Reiterating warnings that signs of "fragmentation" are appearing in the global economy, Okonjo-Iweala said trade volumes for 2023 likely fell below the WTO's October forecast. Trade volumes may also not reach WTO's growth estimates for this year, she warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Her push for reform was echoed by UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, who said he hoped MC13 would serve as a "launch pad" for necessary reforms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"The world has changed. And institutions like the WTO need to evolve too," European Trade Commissioner Valdis Dombrovskis said on Monday, adding that "geopolitical tensions are on the rise. We are faced with crises wherever we look."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:16.0pt">'Dispute settlement reform'</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">During the WTO's last ministerial meeting, held at its Geneva headquarters in June 2022, trade ministers nailed down a historic deal banning fisheries subsidies harmful to marine life and agreed to a temporary patent waiver for Covid-19 vaccines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">They also committed themselves to re-establishing a dispute settlement system which Washington had brought to a grinding halt in 2019 after years of blocking the appointment of new judges to the WTO's appeals court.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"Our challenge this week is to... demonstrate that MC12 wasn't a one-off miracle," Okonjo-Iweala said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"I have seen the US engage more and I have to say they have been quite constructive," she told a press conference, dismissing claims of an American leadership vacuum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO faces pressure to eke out progress on reform in Abu Dhabi ahead of the possible re-election of Donald Trump as US president.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">During his four years in office from 2017 to 2021, Trump threatened to pull the United States out of the trade body and disrupted its ability to settle disputes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"There will be the US elections in November... so this is the last chance," a diplomatic source in Geneva told AFP on condition of anonymity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On Monday, US Trade Representative Katherine Tai said "reform is squarely on the agenda for this week."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">That includes "dispute settlement reform, where the goal is not just to go back to the way things used to be, but rather to provide confidence that the system is fair," she said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">But Marcelo Olarreaga, economics professor at the University of Geneva, said the other members of the WTO "cannot expect huge concessions" from the administration of US President Joe Biden in an election year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:16.0pt">Fisheries deal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">While there is doubt over progress at the WTO on key issues, there is hope for advances on a new global agreement on tackling fisheries subsidies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">After striking an agreement in 2022, which banned subsidies contributing to illegal, undeclared and unregulated fishing, the WTO hopes to conclude a second deal, this time focusing on subsidies which fuel overcapacity and overfishing.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"We are within sight of ratifying the fisheries subsidies agreement," Okonjo-Iweala said on Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">WTO trade ministers could also make advances on facilitating aid for developing countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On Monday, the Comoros and East Timor were accepted as WTO members.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Their accession comes a day after more than 120 WTO member states said they finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Despite broad backing, some members may still oppose its integration into the WTO, including India, which typically objects to agreements that do not cover all countries. -- AFP/RSS</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20081', 'image' => '20240227105611_wtov2-01.jpg', 'article_date' => '2024-02-27 10:55:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20353', 'article_category_id' => '1', 'title' => 'Tourists Start Visiting Annapurna Circuit', 'sub_title' => '', 'summary' => 'February 27: With the onset of the spring season, tourists have started to arrive on the Annapurna Circuit, a renowned foot trail which looked deserted until some time ago.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">February 27: With the onset of the spring season, tourists have started to arrive on the Annapurna Circuit, a renowned foot trail which looked deserted until some time ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">This famous trail, which covers five districts of central Nepal, is once again bustling with tourists with the beginning of the trekking season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Bhupendra Gurung, in-charge of the Annapurna Conservation Area Project (ACAP)’s tourist screening and information center in Dharapani, Manang, said that around 25 to 30 foreign tourists are visiting this trail on a daily basis. He added that this route has been deserted for about two months due to excessive cold.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Gurung said that until recently only around five tourists used to visit this place on an average day, but now the arrival of tourists is expected to increase gradually. He said that the tourism business has come back to life as tourists have started to show up in this foot trail, which was deserted due to the extreme cold during winter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Even the people of Manang, who had gone outside the districts to escape the unforgiving cold, have slowly started returning back. Pancha Bahadur Gurung, a tourism entrepreneur of Marsyangdi Rural Municipality-4, said that they are busy now with the arrival of tourists.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">The locals have also started making income with the arrival of tourists. Gurung said that mostly Israeli citizens used to visit this place around this time of year, but there are no Israeli tourists this year due to the war between Israel and Hamas.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Gurung, the tourism entrepreneur, mentioned that the daily business is more than Rs 60,000 due to the increase in number of tourists. Tourists have already booked his hotel for almost a month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Other tourism entrepreneurs like him, including Mekh Bahadur Gurung, Khushiram Gurung, Devijung Gurung, Chet Bahadur Gurung, Bag Bahadur Gurung Purna Bahadur Gurung, Rajman Gurung and hundreds of other hoteliers around this foot trail have now started getting back work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Hotel business in the Chautara area of Lamjung, the entrance to the Annapurna Circuit has also started to flourish. Five districts namely Lamjung, Manang, Kaski, Mustang and Myagdi are connected to this trail.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Foreign tourists come to see the scenery of the rustic mountains and hills, the culture and customs and natural beauty of Manang. The visitors have to climb the Thorang Pass from Manang and then descend to Pokhara via Mustang on the Annapurna Circuit. Tourists come here especially to see Thorangla Pass, Larke Pass, and Kalla Pass as well as Tilicho Lake which is arguably the highest lake in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">This foot trail also offers breathtaking views of mountains like Gangapurna, Zulu Peak, Pisang Peak, Nilgiri and Tilicho Peak as well as the Annapurna II, III and IV. Starting from Lamjung’s Bensisahar, the journey of Annapurna Circuit takes the visitors through Dharapani, Manang, Thorangla Pass, Muktinath, Jomsom, Ghorepani and concludes in Pokhara.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">In the past, the journey of this foot trail used to take 18 days but has now been shortened due to the expansion of the road.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20080', 'image' => '20240227095457_20220508080527_Annapurna circuit (3).jpg', 'article_date' => '2024-02-27 09:54:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20351', 'article_category_id' => '1', 'title' => 'Nepal Imports Lipsticks Worth More Than Rs 400 Million in Current FY', 'sub_title' => '', 'summary' => 'February 26: Nepal spent more than Rs 410 million for importing lipsticks from different countries in the first seven months of the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">February 26: Nepal spent more than Rs 410 million for importing lipsticks from different countries in the first seven months of the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of the Department of Customs, lipsticks worth Rs 411.7 million were imported into Nepal from mid-July 2023 to mid-January 2024. The statistics of the department showed that a total of 122,454 kilograms of lipsticks were imported into the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">During the corresponding period of last fiscal year, Nepal had imported 147,087 kilograms of lipsticks worth Rs 234.43 million. Compared to the first seven months of last fiscal year, the import of lipsticks has decreased by 16 percent in terms of quantity, while the price has increased by 75 percent in the current FY.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of the last seven months, China tops the list of countries from where Nepal imports lipsticks. During the review period, 68,113 kilograms of lipsticks worth Rs 194.8 million entered Nepal from China.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">India ranks second in the list of countries from which Nepal imports lipsticks. In the last seven months, Nepal imported 51,745 kg of lipsticks worth Rs 168.154 million from India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Along with China and India, Nepal also imports lipsticks from Turkey, Italy, Germany, the United States of America, Thailand, Taiwan, South Korea, Canada, the Philippines, Hong Kong, Malaysia, Saudi Arabia, Poland, Japan, the Netherlands, the United Kingdom, Mexico, Australia, Denmark, Luxembourg, Pakistan, the United Arab Emirates, Israel, Uzbekistan, France, Greece and other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period of the current fiscal year, Nepal imported 23,300 kg of lipsticks worth Rs 3.2 million from America.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20078', 'image' => '20240226092801_Untitled.jpg', 'article_date' => '2024-02-26 21:27:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20350', 'article_category_id' => '1', 'title' => 'CAN Announces Rs 100,000 Monthly Remuneration for Grade 'A' Male Players ', 'sub_title' => '', 'summary' => 'February 26: Cricket Association of Nepal (CAN) has decided to provide monthly remuneration of Rs 100,000 to each of the male cricketers listed in Grade 'A'. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Cricket Association of Nepal (CAN) has decided to provide monthly remuneration of Rs 100,000 to each of the male cricketers listed in Grade 'A'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A board meeting of CAN Board held from February 24 to 26 took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">National cricket team captain Rohit Kumar Paudel, Sompal Kami, Dipendra Singh Airee, Asif Sheikh and Kushal Bhurtel are listed as 'A' grade cricketers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CAN has announced a monthly remuneration of Rs 70,000 per month for each of the five players of Grade 'B' including Kushal Malla, Gulshan Jha, Bhim Sarki, Lalit Narayan Rajbanshi and Abhinash Bohora. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the board meeting, Binod Bhandari, Arjun Saud, Sundeep Jora and Pratish GC, who belong to 'C' grade, will get a monthly remuneration of Rs 55,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Grade 'D' players, including Pawan Sarraf, Sagar Dhakal, Anil Shah, Bibek Kumar Yadav, Akash Chand, Basir Ahamad and Surya Tamang will be given Rs 35,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAN also announced monthly remuneration of Rs 25,000 each to those players who fall under the category of emerging players which includes Dipesh Kandel, Rupesh Singh, Rijan Dhakal, Bipin Khatri, Dev Khanal, Arjun Gharti and Hemant Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The monthly remuneration for women cricketers of Grade 'A' has been fixed at Rs 50,000 per month each. The list of 'A' grade women cricketers includes Indu Berma, Rubina Chhetri and Sita Rana Magar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'B' grade women cricketers who will get Rs 35,000 per month is Kabita Kunwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Puja Mahato and Ashmina Karmacharya, who fall under the category of Grade 'C', will get Rs 30,000 per month while Apsari Begam, Kabita KC, Sangita Rai, Kajol Shrestha and Bindu Rawal representing Grade 'D' are eligible to get Rs 25,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the group of emerging women players comprising Soni Pakhrin, Khusi Dangol, Jyotsnika Marasini, Kanchan Shrestha, Shristi Jaisi, Samjhana Khadka and Sana Prabin will to get Rs 20,000 each per month. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20077', 'image' => '20240226090307_GGinoAWXUAEsCn0.jpg', 'article_date' => '2024-02-26 21:02:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20349', 'article_category_id' => '1', 'title' => 'Noted Singer, Musician Bhakta Raj Acharya No More', 'sub_title' => '', 'summary' => 'February 26: Noted singer and musician Bhakta Raj Acharya passed away at the age of 82 on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Noted singer and musician Bhakta Raj Acharya passed away at the age of 82 on Monday. Decorated with the title 'Bhajan Shiromani', Acharya breathed his last while being taken to hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Musician Chetan Sapkota informed RSS that Acharya was being taken to Medicity Hospital after a sudden decrease in oxygen level in his body. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had sung nearly 400 songs including- 'Mutu jali rahechha,' 'Jati chot dinchhau', 'Jaha chhan Buddhaka ankha', 'Hajar ankha herne', 'Maya meri sanjha bihan'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Acharya's body would be kept on the premises of the Academy of Music and Drama at 9:00 am for tribute on Tuesday, according to musician Sapkota. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Acharya's two sons Satya Raj and Swarup Raj are also active in the field of music. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20076', 'image' => '20240226084937_k.jpg', 'article_date' => '2024-02-26 20:48:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20348', 'article_category_id' => '1', 'title' => 'Majority of WTO Members Sign Investment Deal for Development ', 'sub_title' => '', 'summary' => 'February 26: More than 120 WTO member states have finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles, the global trade body said Sunday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 26: More than 120 WTO member states have finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles, the global trade body said Sunday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Investment Facilitation for Development (IFD) Agreement, signed by 75 percent of the World Trade Organization's members, would require full consensus before it could be formally incorporated, as per the body's rules. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Despite broad backing, some members may still oppose its integration into the WTO, including India, which typically objects to agreements that do not cover all countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The deal was made public on the WTO's website hours before the trade body kicked off its 13th ministerial conference in Abu Dhabi. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim of fostering sustainable development, according to the text. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">To achieve this, participating countries have agreed "to improve the transparency of measures, streamline administrative procedures, adopt other investment facilitation measures and promote international cooperation." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> WTO chief Ngozi Okonjo-Iweala called it a "pioneering agreement that promises to help its signatories attract the foreign direct investment they want to drive growth." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Valdis Dombrovskis, the European Union's trade chief, said "it constitutes an opportunity for developing and least-developed countries to boost their capacity to attract more investment." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The signatories have issued a submission asking for it to be incorporated into the WTO during the Abu Dhabi meeting, which is scheduled to last until February 29. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Its incorporation would allow other member states to join on a voluntary basis."We call on all WTO Members to support its incorporation into the WTO system at MC13," said China's Commerce Minister Wang Wentao. – AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20075', 'image' => '20240226060754_wto.jpg', 'article_date' => '2024-02-26 18:07:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20347', 'article_category_id' => '1', 'title' => 'Banks Transfer Almost Rs 100 Billion to NRB under Standing Deposit Facility', 'sub_title' => '', 'summary' => 'February 26: Banks and financial institutions have deposited nearly Rs 100 billion in Nepal Rastra Bank in a single day. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: Banks and financial institutions have deposited nearly Rs 100 billion in Nepal Rastra Bank in a single day. Due to the excess liquidity in the banking system, the banks deposited the amount in the central bank on Sunday under the standing deposit facility, an overnight facility that enables banks to transfer excess liquidity to earn higher rate of interest.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In order to effectively implement the interest rate corridor, the central bank started the standing deposit facility from mid-February to allow the banks and financial institutions to deposit their excess liquidity with the central bank. Under this facility, bank deposits worth Rs 96.15 billion were transferred to the Nepal Rastra Bank on Sunday alone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This is the highest amount deposited in the central bank after the introduction of this facility. So far, banks have already used this facility four times depositing Rs 253.65 billion with the central bank. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">An official of the central bank said that large amount of liquidity is being stocked at the NRB due to excess liquidity in the banking system.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Large amounts of deposits have started to flow to the central bank under the standing deposit facility," said the official, adding, "It seems that banks do not want to take the risk of credit disbursement."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the regulations and procedures related to the open market transactions, there is a provision to provide standing deposit facility to banks for two days a week on every Sunday and Wednesday. Banks are entitled to receive 3 percent for the deposits under this facility with a maturity period of four days.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the current fiscal year (FY), banks and financial institutions have excess liquidity as the deposit collection is higher than credit flow. In order to manage excess liquidity in the financial system, the central bank started issuing deposit collection tools from mid-November of the current fiscal year and raised Rs 550 billion by mid-February. However, as the central bank could not maintain short-term interest rate according to the interest rate corridor, it started the standing deposit facility from mid-February as per the announcement made in the monetary policy. After the launch of the facility, the short-term interest rate has remained within the lower limit of the corridor.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the 'Interest Rate Corridor Procedure - 2076', there is an arrangement to set the upper limit bank rate and the lower limit of deposit collection rate and keep the interbank interest rate in between. For this, there is a provision for the central bank to use various monetary instruments for liquidity flow and mopping excess liquidity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Nepal Rastra Bank, as of last Thursday, banks have collected deposits of Rs 6167 billion and provided loans of Rs 5086 billion. In the fiscal current year, bank deposits have increased by Rs 396 billion, while credit flow increased by Rs 208 billion only. The average credit-deposit ratio (CD ratio) of banks is 80.04 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, they still have the capacity to provide loans of more than Rs 600 billion.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20074', 'image' => '20240226034018_Banks.jpg', 'article_date' => '2024-02-26 15:39:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20346', 'article_category_id' => '1', 'title' => 'DoI Issues Online Route Permits for Tourists Visiting Restricted Areas', 'sub_title' => '', 'summary' => 'February 26: The Department of Immigration (DoI) has started issuing route permits for domestic and foreign tourists to visit restricted areas through electronic system (online), the state-owned RSS reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The Department of Immigration (DoI) has started issuing route permits for domestic and foreign tourists to visit restricted areas through electronic system (online), the state-owned RSS reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the RSS, the DoI made the online arrangements to issue route permits to facilitate the tourists visiting the restricted areas under the initiative of the Trekking Agencies Association of Nepal (TAAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Until now, the department used to issu permits to tourists visiting the restricted areas only through the time-consuming paper works. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">TAAN General Secretary Binod Sapkota said that the route permits can be obtained online since last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, online route permits have been issued to three Chinese citizens through Magical Nepal Pvt Ltd. Among the Chinese nationals whose route permits were issued online are Bing Si, Chichi Ping, and Winhua Luo. This development is expected to ease the journey for tourists visiting upper Mustang, upper Dolpo, Chum and Nubri valleys in the Manaslu region of Gorkha, as well as Simikot, Changkheli, Namkha in Humla, and Kanchenjunga in Taplejung.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">TAAN President Nilhari Bastola told RSS that the online route permits for the restricted areas will make the trek easier for both tourists and entrepreneurs. "The easier we make it for the tourists, the more tourists will visit Nepal. I believe this online service will be beneficial for the tourism industry," RSS quoted Bastola as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Acting director general of DoI, Krishna Bahadur Katuwal said that the long time-consuming process of obtaining route permits has come to an end with the launch of the online permit system.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, tourists can now easily get permits from their company and personal accounts through 'QR payment'. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20073', 'image' => '20240226030828_upper-mustang-trek.jpg', 'article_date' => '2024-02-26 15:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20345', 'article_category_id' => '1', 'title' => 'Rafting Business in Crisis due to Hydropower Project ', 'sub_title' => '', 'summary' => 'February 26: Stakeholders have expressed concern over the proposed Super Trishuli Hydropower Project, which poses existential crisis to the rafting business. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Stakeholders have expressed concern over the proposed Super Trishuli Hydropower Project, which poses existential crisis to the rafting business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As preliminary work for the construction of 100 MW Super Trishuli Hydropower Project to be built between Battar of Gorkha and Chumkhola of Chitwan has started, people's representatives, rafting entrepreneurs and river conservation activists took part in a public hearing held at Fisling of Ichchakamana Rural Municipality on Sunday to discuss the matter of public importance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, provincial assembly member Krishna Silwal said that the environment and existence of rivers should not be put into danger in the name of development. He pledged to do his best to stop it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, President of Nepal Rafting Association, Shiva Adhikari, said that the proposed hydroelectric project will put 84 companies related to the riverside rafting and boating business in a crisis. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Billions of investments in hotel business, rafting and other companies are in a crisis with the livelihood of 3,500 guides and 10,000 workers at stake," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of Nepal River Conservation Trust Megh Aley said that the wealth of the nation which attracts many tourists should not be jeopardized. Development by drying up the river is unfortunate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Association of Rafting Agencies (NARA) had earlier protested saying that the entire investment of the rafting industry is going to waste with the construction of hydroelectric projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trishuli is one of the major rivers for rafting among the 16 different rivers that the government has permitted for rafting. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20072', 'image' => '20240226021630_adventure-activities-nepal-rafting-river.jpg', 'article_date' => '2024-02-26 14:08:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20344', 'article_category_id' => '1', 'title' => 'Process of Appointing SEBON Chair to Pick Up Pace from this Week', 'sub_title' => '', 'summary' => 'February 26: The recommendation committee for the post of the chairman of the Securities Board of Nepal (SEBON), which is vacant since January 5, will start its work to recommend names for the post from this week.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The recommendation committee for the post of the chairman of the Securities Board of Nepal (SEBON), which is vacant since January 5, will start its work to recommend names for the post from this week. A meeting of the Council of Ministers had formed the three-member recommendation committee for the appointment of the board’s chairman on January 17 under the coordination of Min Bahadur Shrestha, vice chairman of the National Planning Commission.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Among the members of the committee are the Secretary of the Ministry of Finance Krishnahari Pushkar and Professor Uday Niraula.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The committee has already prepared the necessary procedure for the appointment of the board’s chairman and informed that the appointment process will be started from this week according to the same procedure. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Admitting that the recommendation process was delayed due to the busy schedule of the coordinator of the recommendation committee and the finance secretary, the committee said that the process will proceed without any more delay. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Securities Act 2063 has a provision to form a committee consisting of the finance secretary and an expert related to the securities sector under the coordination of the member of the National Planning Commission to recommend the chairman to the board. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recommendation committee will recommend the names of three qualified candidates from among the applicants. One of the three people recommended by the committee will be appointed as the chairman of the board for the next four-year term by the cabinet meeting. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the Securities Act, the candidate for the post of SEBON chair must have at least a master's degree, at least seven years of work experience in securities market management or capital market development or any of the fields related to economy, finance, commerce, management or law.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Eligible candidates can apply for the post according to the same provision.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders argue that the regulatory body of the securities market, which has assets of more than Rs 3100 billion, should not be without a leadership for a long time. As the board is without a leader, the approval process of public issuance of securities has been stalled recently.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">No company has received permission for public issuance of shares in the securities market since January 4. Ramesh Kumar Hamal had allowed Reliance Spinning Mills Limited to issue shares through the book building method on January 4 a day before his term ended.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the first phase, the company has been allowed to issue and sell 770,640 units of shares to eligible institutional investors at a minimum price of Rs 608 to a maximum of Rs 912 per share. At present, 34 companies have applied with the board for the issuance of ordinary shares.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, five more companies are in line for further public offering (FPO). There are 9 companies in line for issuing rights shares. One company has applied for the issuance of bonds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders have demand the process of appointment of the chairman of SEBON must be completed as soon as possible as billions of rupees are traded daily in the secondary market.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20071', 'image' => '20240226011210_Sebon-update.jpg', 'article_date' => '2024-02-26 13:11:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20343', 'article_category_id' => '1', 'title' => 'Era of Insecurity is Resetting Global Defence-Industrial Landscape', 'sub_title' => 'Global Conflicts Herald 'Dangerous Decade': Military Think-Tank', 'summary' => 'February 26: The Israel-Hamas war, ongoing fighting in Ukraine and rising tensions in the Indo-Pacific and Africa herald "what is likely to be a more dangerous decade," a British military think-tank recently warned.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The Israel-Hamas war, ongoing fighting in Ukraine and rising tensions in the Indo-Pacific and Africa herald "what is likely to be a more dangerous decade," a British military think-tank recently warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the AFP, the International Institute for Strategic Studies (IISS) said in its annual "Military Balance" report that the world has entered "a highly volatile security environment", which is set to endure.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The current military-security situation heralds what is likely to be a more dangerous decade, characterised by the brazen application by some of military power to pursue claims," the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It also noted "the desire among like-minded democracies for stronger bilateral and multilateral defence ties in response".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The "era of insecurity" is resetting the global defence-industrial landscape, with the US and Europe ramping up production of missiles and ammunition "after decades of underinvestment," the report added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As the two-year anniversary of Russia's invasion of Ukraine looms, the London-based IISS reported that Moscow had lost around 3,000 battle tanks in the conflict, roughly the same number it had at the beginning of its operation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IISS said that Russia had been forced to trade "quality for quantity" in its efforts to replace tanks lost since it invaded its neighbour to the west in February 2022.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Ukraine, so far, has been able to offset equipment losses through Western donations, upgrading quality in the process," added the think-tank in its yearly assessment of the militaries and defence economics of over 170 countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NATO 'reinvigorated' </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Driven in part by NATO member states response to Russia's invasion, global military spending grew by 9 percent in 2022 to reach a record $2.2 trillion, it noted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report comes days after White House hopeful Donald Trump said he had previously told an unspecified NATO member's leader that he would "encourage" Russia to "to do whatever the hell they want" in that country if it had not met its NATO financial obligations.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"You got to pay. You got to pay your bills," Trump recounted at a campaign rally in South Carolina Saturday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Only 10 members of the Western-led security alliance met the group's target of spending two percent of GDP on defence, although 19 of them increased spending last year, according to IISS figures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Russia's actions have reinvigorated NATO, with Finland completing its rapid alliance accession process in April 2023," the report noted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Russia's border with NATO members is now more than 1,300 kilometres longer."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Elsewhere, the annual report said that Iran's supply of missiles to Huthi rebels in Yemen and drones to Russia highlighted Tehran's growing influence in conflict zones.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China had also demonstrated "increased power-projection capacity", it added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The IISS Military Balance study is published at an important time when the rules-based order is being increasingly questioned," AFP quoted Bastian Giegerich, the chief executive of IISS, as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"While Western defence spending is rising and plans to revamp equipment are ongoing, we reflect on the challenges including those set by Russia's ongoing invasion of Ukraine, China's military modernisation and events in the Middle East," he added. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20070', 'image' => '20240226115229_Ukraine-War-Russian-Tank-Destroyed-768x432.jpg', 'article_date' => '2024-02-26 11:51:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20342', 'article_category_id' => '1', 'title' => 'Five Proposals Selected for Final of Hult Prize', 'sub_title' => '', 'summary' => 'February 26: The organisers of the Hult Prize have selected five proposals for the final round of the event from among 13 participating teams who pitched their innovative business ideas during the semifinals held at the Kathmandu University.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">February 26: The organisers of the Hult Prize have selected five proposals for the final round of the event from among 13 participating teams who pitched their innovative business ideas during the semifinals held at the Kathmandu University. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Hult Prize is being sponsored by Canadian Study Center and Agni Mahindra Group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The proposals were selected on the basis of competence after evaluation by experts from various fields. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The proposals selected for the finals include Dr. Fish, Ladies with a Lamp, Hempire, The Upcyclers and Kodoko Khaja. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The final is scheduled to be held on Tuesday (February 27) at Kathmandu University, Dhulikhel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Eighteen different organizations have helped sponsor the program and also provide necessary training to the participants.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20069', 'image' => '20240226112030_20240111013141_1704935057.2UlBO0Jn_400x400.jpg', 'article_date' => '2024-02-26 11:19:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20341', 'article_category_id' => '1', 'title' => 'Department of Revenue Investigation Monitors Dry Port for Misuse of Green Lane', 'sub_title' => '', 'summary' => 'February 25: The Department Revenue Investigation has started monitoring the case of misuse of the green lane of Birganj Dry Port in which prohibited goods were imported in the guise of other goods mentioned in the declaration form.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 25: The Department Revenue Investigation has started monitoring the case of misuse of the green lane of Birganj Dry Port in which prohibited goods were imported in the guise of other goods mentioned in the declaration form.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs is currently investigating this case suspecting collusion between the then high-ranking officials of the Department of Customs and the Dry Port Customs Office. According to the officials of the Department of Customs, the collusion took place in the interest and under the protection of the then ruling party.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Director General of the Department of Revenue Investigation Nawa Raj Dhungana said that although the responsibility of preliminary investigation and action lies with the department, the Department Revenue Investigation has been constantly monitoring the issue. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The Department of Customs will take action according to the law. If not, we will investigate. Currently, we are collecting the necessary information required for the investigation," Dhungana, Director General of Department of Revenue Investigation, told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Dry Port Customs Office initiated investigation after finding betel nuts in containers labeled as chicken feed and scooters labeled as hardware.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">An officer of the Department of Customs said that after opening 400 containers stored at the port for four years, more than 100 containers were found to have goods other than that mentioned in the labels.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The incident came to light after the government banned the imports of peas, betel nuts, pepper, dry dates and liquor in 2076 saying that there was pressure in the foreign exchange reserves.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-25', 'modified' => '2024-02-25', 'keywords' => '', 'description' => '', 'sortorder' => '20068', 'image' => '20240225040940_20220102031417_20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2024-02-25 16:09:02', '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' => '20356', 'article_category_id' => '1', 'title' => 'Government Presents Principles and Priorities of Appropriation Bill in Parliament', 'sub_title' => 'Parliament to Begin Discussions on Principles and Priorities of Appropriation Bill on March 4 ', 'summary' => 'February 27: The government has presented Principles and Priorities of the Appropriation Bill for the fiscal year 2081-82 BS in parliament. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: The government has presented Principles and Priorities of the Appropriation Bill for the fiscal year 2081-82 BS in parliament. The government amended the existing laws to present the bill three months before the announcement of the annual budget.</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"">Finance Minister Dr Prakash Sharan Mahat presented a proposal for discussing the principles and priorities of the Appropriation Bill (except taxation) at a meeting of the House of Representatives on Monday. While presenting the bill, Finance Minister Mahat claimed that the upcoming budget will elevate the country’s economy to the standard of global economy and will fulfill the basic needs of the people and also uplift the living standard of people facing financial hardship.</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 parliament will begin in-principle discussions on the Principles and Priorities of the Appropriation Bill for the upcoming fiscal year from March 4. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As scheduled by Speaker Devraj Ghimire, the deliberations on the principles and priorities of the Appropriation Bill will be held for seven days beginning on March 4 and conclude on March 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office-bearers of parliamentary parties should register name of lawmakers taking part in the deliberations at the Federal Parliament Secretariat one hour before the commencement of the session. The registration shall be made on the basis of the political representation in the parliament. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20083', 'image' => '20240227125703_Parliament.jpg', 'article_date' => '2024-02-27 12:56:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20355', 'article_category_id' => '1', 'title' => 'PM Directs to Immediately Release Dues of Milk to Farmers ', 'sub_title' => '', 'summary' => 'February 27: Prime Minister Pushpa Kamal Dahal has directed all stakeholders to immediately release the dues to the milk producers for the purchase of diary products. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: Prime Minister Pushpa Kamal Dahal has directed all stakeholders to immediately release the dues to the milk producers for the purchase of diary products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM summoned Finance Minister Dr Prakash Sharan Mahat, Minister for Agriculture and Livestock Development Dr Beduram Bhusal and Chief Secretary Dr Baikuntha Aryal at his office on Monday and directed them to ensure the release of the outstanding dues to the farmers immediately.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the PM's Secretariat, the PM has directed the government authorities to make sure that the farmers receive payments from the private sector as well and to initiate action in case the payment is not done.</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"">"What is the reason for the non-payment to farmers for several months? Take this issue seriously. Make facilitation to immediately pay the amount for the farmers from the private sector," the PM directed the ministers. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20082', 'image' => '20240227114913_milk.jpg', 'article_date' => '2024-02-27 11:48:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20354', 'article_category_id' => '1', 'title' => 'Geopolitical Tensions Threatening Global Commerce and Multilateral Trading Systems: WTO', 'sub_title' => '', 'summary' => 'February 27: The World Trade Organization pushed for reform at a high-level ministerial meeting in Abu Dhabi Monday, warning that economic headwinds and geopolitical tensions are threatening global commerce and multilateral trading systems.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">February 27: The World Trade Organization pushed for reform at a high-level ministerial meeting in Abu Dhabi Monday, warning that economic headwinds and geopolitical tensions are threatening global commerce and multilateral trading systems.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the United Arab Emirates, is the first in two years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO is hoping for progress, particularly on fishing, agriculture and electronic commerce.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">But big deals are unlikely as the body's rules require full consensus among all 164 member states -- a tall order in the current climate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Speaking on the first day of MC13, WTO Director-General Ngozi Okonjo-Iweala said that "multilateralism is under attack from all sides," highlighting a need to "reform the multilateral trading system" and boost international cooperation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"Looking around, uncertainty and instability are everywhere," the WTO chief said, adding that the world is in an "even tougher place today" compared to two years ago when WTO trade ministers last met.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Okonjo-Iweala did not name countries, but tensions have risen between the West and Russia and China in recent years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The war in Gaza and related attacks by Yemeni rebels on ships in the Red Sea have added to the challenges.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Reiterating warnings that signs of "fragmentation" are appearing in the global economy, Okonjo-Iweala said trade volumes for 2023 likely fell below the WTO's October forecast. Trade volumes may also not reach WTO's growth estimates for this year, she warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Her push for reform was echoed by UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, who said he hoped MC13 would serve as a "launch pad" for necessary reforms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"The world has changed. And institutions like the WTO need to evolve too," European Trade Commissioner Valdis Dombrovskis said on Monday, adding that "geopolitical tensions are on the rise. We are faced with crises wherever we look."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:16.0pt">'Dispute settlement reform'</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">During the WTO's last ministerial meeting, held at its Geneva headquarters in June 2022, trade ministers nailed down a historic deal banning fisheries subsidies harmful to marine life and agreed to a temporary patent waiver for Covid-19 vaccines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">They also committed themselves to re-establishing a dispute settlement system which Washington had brought to a grinding halt in 2019 after years of blocking the appointment of new judges to the WTO's appeals court.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"Our challenge this week is to... demonstrate that MC12 wasn't a one-off miracle," Okonjo-Iweala said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"I have seen the US engage more and I have to say they have been quite constructive," she told a press conference, dismissing claims of an American leadership vacuum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO faces pressure to eke out progress on reform in Abu Dhabi ahead of the possible re-election of Donald Trump as US president.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">During his four years in office from 2017 to 2021, Trump threatened to pull the United States out of the trade body and disrupted its ability to settle disputes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"There will be the US elections in November... so this is the last chance," a diplomatic source in Geneva told AFP on condition of anonymity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On Monday, US Trade Representative Katherine Tai said "reform is squarely on the agenda for this week."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">That includes "dispute settlement reform, where the goal is not just to go back to the way things used to be, but rather to provide confidence that the system is fair," she said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">But Marcelo Olarreaga, economics professor at the University of Geneva, said the other members of the WTO "cannot expect huge concessions" from the administration of US President Joe Biden in an election year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:16.0pt">Fisheries deal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">While there is doubt over progress at the WTO on key issues, there is hope for advances on a new global agreement on tackling fisheries subsidies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">After striking an agreement in 2022, which banned subsidies contributing to illegal, undeclared and unregulated fishing, the WTO hopes to conclude a second deal, this time focusing on subsidies which fuel overcapacity and overfishing.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"We are within sight of ratifying the fisheries subsidies agreement," Okonjo-Iweala said on Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">WTO trade ministers could also make advances on facilitating aid for developing countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On Monday, the Comoros and East Timor were accepted as WTO members.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Their accession comes a day after more than 120 WTO member states said they finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Despite broad backing, some members may still oppose its integration into the WTO, including India, which typically objects to agreements that do not cover all countries. -- AFP/RSS</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20081', 'image' => '20240227105611_wtov2-01.jpg', 'article_date' => '2024-02-27 10:55:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20353', 'article_category_id' => '1', 'title' => 'Tourists Start Visiting Annapurna Circuit', 'sub_title' => '', 'summary' => 'February 27: With the onset of the spring season, tourists have started to arrive on the Annapurna Circuit, a renowned foot trail which looked deserted until some time ago.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">February 27: With the onset of the spring season, tourists have started to arrive on the Annapurna Circuit, a renowned foot trail which looked deserted until some time ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">This famous trail, which covers five districts of central Nepal, is once again bustling with tourists with the beginning of the trekking season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Bhupendra Gurung, in-charge of the Annapurna Conservation Area Project (ACAP)’s tourist screening and information center in Dharapani, Manang, said that around 25 to 30 foreign tourists are visiting this trail on a daily basis. He added that this route has been deserted for about two months due to excessive cold.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Gurung said that until recently only around five tourists used to visit this place on an average day, but now the arrival of tourists is expected to increase gradually. He said that the tourism business has come back to life as tourists have started to show up in this foot trail, which was deserted due to the extreme cold during winter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Even the people of Manang, who had gone outside the districts to escape the unforgiving cold, have slowly started returning back. Pancha Bahadur Gurung, a tourism entrepreneur of Marsyangdi Rural Municipality-4, said that they are busy now with the arrival of tourists.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">The locals have also started making income with the arrival of tourists. Gurung said that mostly Israeli citizens used to visit this place around this time of year, but there are no Israeli tourists this year due to the war between Israel and Hamas.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Gurung, the tourism entrepreneur, mentioned that the daily business is more than Rs 60,000 due to the increase in number of tourists. Tourists have already booked his hotel for almost a month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Other tourism entrepreneurs like him, including Mekh Bahadur Gurung, Khushiram Gurung, Devijung Gurung, Chet Bahadur Gurung, Bag Bahadur Gurung Purna Bahadur Gurung, Rajman Gurung and hundreds of other hoteliers around this foot trail have now started getting back work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Hotel business in the Chautara area of Lamjung, the entrance to the Annapurna Circuit has also started to flourish. Five districts namely Lamjung, Manang, Kaski, Mustang and Myagdi are connected to this trail.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Foreign tourists come to see the scenery of the rustic mountains and hills, the culture and customs and natural beauty of Manang. The visitors have to climb the Thorang Pass from Manang and then descend to Pokhara via Mustang on the Annapurna Circuit. Tourists come here especially to see Thorangla Pass, Larke Pass, and Kalla Pass as well as Tilicho Lake which is arguably the highest lake in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">This foot trail also offers breathtaking views of mountains like Gangapurna, Zulu Peak, Pisang Peak, Nilgiri and Tilicho Peak as well as the Annapurna II, III and IV. Starting from Lamjung’s Bensisahar, the journey of Annapurna Circuit takes the visitors through Dharapani, Manang, Thorangla Pass, Muktinath, Jomsom, Ghorepani and concludes in Pokhara.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">In the past, the journey of this foot trail used to take 18 days but has now been shortened due to the expansion of the road.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20080', 'image' => '20240227095457_20220508080527_Annapurna circuit (3).jpg', 'article_date' => '2024-02-27 09:54:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20351', 'article_category_id' => '1', 'title' => 'Nepal Imports Lipsticks Worth More Than Rs 400 Million in Current FY', 'sub_title' => '', 'summary' => 'February 26: Nepal spent more than Rs 410 million for importing lipsticks from different countries in the first seven months of the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">February 26: Nepal spent more than Rs 410 million for importing lipsticks from different countries in the first seven months of the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of the Department of Customs, lipsticks worth Rs 411.7 million were imported into Nepal from mid-July 2023 to mid-January 2024. The statistics of the department showed that a total of 122,454 kilograms of lipsticks were imported into the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">During the corresponding period of last fiscal year, Nepal had imported 147,087 kilograms of lipsticks worth Rs 234.43 million. Compared to the first seven months of last fiscal year, the import of lipsticks has decreased by 16 percent in terms of quantity, while the price has increased by 75 percent in the current FY.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of the last seven months, China tops the list of countries from where Nepal imports lipsticks. During the review period, 68,113 kilograms of lipsticks worth Rs 194.8 million entered Nepal from China.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">India ranks second in the list of countries from which Nepal imports lipsticks. In the last seven months, Nepal imported 51,745 kg of lipsticks worth Rs 168.154 million from India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Along with China and India, Nepal also imports lipsticks from Turkey, Italy, Germany, the United States of America, Thailand, Taiwan, South Korea, Canada, the Philippines, Hong Kong, Malaysia, Saudi Arabia, Poland, Japan, the Netherlands, the United Kingdom, Mexico, Australia, Denmark, Luxembourg, Pakistan, the United Arab Emirates, Israel, Uzbekistan, France, Greece and other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period of the current fiscal year, Nepal imported 23,300 kg of lipsticks worth Rs 3.2 million from America.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20078', 'image' => '20240226092801_Untitled.jpg', 'article_date' => '2024-02-26 21:27:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20350', 'article_category_id' => '1', 'title' => 'CAN Announces Rs 100,000 Monthly Remuneration for Grade 'A' Male Players ', 'sub_title' => '', 'summary' => 'February 26: Cricket Association of Nepal (CAN) has decided to provide monthly remuneration of Rs 100,000 to each of the male cricketers listed in Grade 'A'. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Cricket Association of Nepal (CAN) has decided to provide monthly remuneration of Rs 100,000 to each of the male cricketers listed in Grade 'A'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A board meeting of CAN Board held from February 24 to 26 took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">National cricket team captain Rohit Kumar Paudel, Sompal Kami, Dipendra Singh Airee, Asif Sheikh and Kushal Bhurtel are listed as 'A' grade cricketers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CAN has announced a monthly remuneration of Rs 70,000 per month for each of the five players of Grade 'B' including Kushal Malla, Gulshan Jha, Bhim Sarki, Lalit Narayan Rajbanshi and Abhinash Bohora. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the board meeting, Binod Bhandari, Arjun Saud, Sundeep Jora and Pratish GC, who belong to 'C' grade, will get a monthly remuneration of Rs 55,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Grade 'D' players, including Pawan Sarraf, Sagar Dhakal, Anil Shah, Bibek Kumar Yadav, Akash Chand, Basir Ahamad and Surya Tamang will be given Rs 35,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAN also announced monthly remuneration of Rs 25,000 each to those players who fall under the category of emerging players which includes Dipesh Kandel, Rupesh Singh, Rijan Dhakal, Bipin Khatri, Dev Khanal, Arjun Gharti and Hemant Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The monthly remuneration for women cricketers of Grade 'A' has been fixed at Rs 50,000 per month each. The list of 'A' grade women cricketers includes Indu Berma, Rubina Chhetri and Sita Rana Magar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'B' grade women cricketers who will get Rs 35,000 per month is Kabita Kunwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Puja Mahato and Ashmina Karmacharya, who fall under the category of Grade 'C', will get Rs 30,000 per month while Apsari Begam, Kabita KC, Sangita Rai, Kajol Shrestha and Bindu Rawal representing Grade 'D' are eligible to get Rs 25,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the group of emerging women players comprising Soni Pakhrin, Khusi Dangol, Jyotsnika Marasini, Kanchan Shrestha, Shristi Jaisi, Samjhana Khadka and Sana Prabin will to get Rs 20,000 each per month. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20077', 'image' => '20240226090307_GGinoAWXUAEsCn0.jpg', 'article_date' => '2024-02-26 21:02:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20349', 'article_category_id' => '1', 'title' => 'Noted Singer, Musician Bhakta Raj Acharya No More', 'sub_title' => '', 'summary' => 'February 26: Noted singer and musician Bhakta Raj Acharya passed away at the age of 82 on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Noted singer and musician Bhakta Raj Acharya passed away at the age of 82 on Monday. Decorated with the title 'Bhajan Shiromani', Acharya breathed his last while being taken to hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Musician Chetan Sapkota informed RSS that Acharya was being taken to Medicity Hospital after a sudden decrease in oxygen level in his body. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had sung nearly 400 songs including- 'Mutu jali rahechha,' 'Jati chot dinchhau', 'Jaha chhan Buddhaka ankha', 'Hajar ankha herne', 'Maya meri sanjha bihan'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Acharya's body would be kept on the premises of the Academy of Music and Drama at 9:00 am for tribute on Tuesday, according to musician Sapkota. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Acharya's two sons Satya Raj and Swarup Raj are also active in the field of music. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20076', 'image' => '20240226084937_k.jpg', 'article_date' => '2024-02-26 20:48:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20348', 'article_category_id' => '1', 'title' => 'Majority of WTO Members Sign Investment Deal for Development ', 'sub_title' => '', 'summary' => 'February 26: More than 120 WTO member states have finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles, the global trade body said Sunday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 26: More than 120 WTO member states have finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles, the global trade body said Sunday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Investment Facilitation for Development (IFD) Agreement, signed by 75 percent of the World Trade Organization's members, would require full consensus before it could be formally incorporated, as per the body's rules. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Despite broad backing, some members may still oppose its integration into the WTO, including India, which typically objects to agreements that do not cover all countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The deal was made public on the WTO's website hours before the trade body kicked off its 13th ministerial conference in Abu Dhabi. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim of fostering sustainable development, according to the text. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">To achieve this, participating countries have agreed "to improve the transparency of measures, streamline administrative procedures, adopt other investment facilitation measures and promote international cooperation." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> WTO chief Ngozi Okonjo-Iweala called it a "pioneering agreement that promises to help its signatories attract the foreign direct investment they want to drive growth." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Valdis Dombrovskis, the European Union's trade chief, said "it constitutes an opportunity for developing and least-developed countries to boost their capacity to attract more investment." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The signatories have issued a submission asking for it to be incorporated into the WTO during the Abu Dhabi meeting, which is scheduled to last until February 29. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Its incorporation would allow other member states to join on a voluntary basis."We call on all WTO Members to support its incorporation into the WTO system at MC13," said China's Commerce Minister Wang Wentao. – AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20075', 'image' => '20240226060754_wto.jpg', 'article_date' => '2024-02-26 18:07:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20347', 'article_category_id' => '1', 'title' => 'Banks Transfer Almost Rs 100 Billion to NRB under Standing Deposit Facility', 'sub_title' => '', 'summary' => 'February 26: Banks and financial institutions have deposited nearly Rs 100 billion in Nepal Rastra Bank in a single day. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: Banks and financial institutions have deposited nearly Rs 100 billion in Nepal Rastra Bank in a single day. Due to the excess liquidity in the banking system, the banks deposited the amount in the central bank on Sunday under the standing deposit facility, an overnight facility that enables banks to transfer excess liquidity to earn higher rate of interest.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In order to effectively implement the interest rate corridor, the central bank started the standing deposit facility from mid-February to allow the banks and financial institutions to deposit their excess liquidity with the central bank. Under this facility, bank deposits worth Rs 96.15 billion were transferred to the Nepal Rastra Bank on Sunday alone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This is the highest amount deposited in the central bank after the introduction of this facility. So far, banks have already used this facility four times depositing Rs 253.65 billion with the central bank. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">An official of the central bank said that large amount of liquidity is being stocked at the NRB due to excess liquidity in the banking system.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Large amounts of deposits have started to flow to the central bank under the standing deposit facility," said the official, adding, "It seems that banks do not want to take the risk of credit disbursement."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the regulations and procedures related to the open market transactions, there is a provision to provide standing deposit facility to banks for two days a week on every Sunday and Wednesday. Banks are entitled to receive 3 percent for the deposits under this facility with a maturity period of four days.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the current fiscal year (FY), banks and financial institutions have excess liquidity as the deposit collection is higher than credit flow. In order to manage excess liquidity in the financial system, the central bank started issuing deposit collection tools from mid-November of the current fiscal year and raised Rs 550 billion by mid-February. However, as the central bank could not maintain short-term interest rate according to the interest rate corridor, it started the standing deposit facility from mid-February as per the announcement made in the monetary policy. After the launch of the facility, the short-term interest rate has remained within the lower limit of the corridor.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the 'Interest Rate Corridor Procedure - 2076', there is an arrangement to set the upper limit bank rate and the lower limit of deposit collection rate and keep the interbank interest rate in between. For this, there is a provision for the central bank to use various monetary instruments for liquidity flow and mopping excess liquidity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Nepal Rastra Bank, as of last Thursday, banks have collected deposits of Rs 6167 billion and provided loans of Rs 5086 billion. In the fiscal current year, bank deposits have increased by Rs 396 billion, while credit flow increased by Rs 208 billion only. The average credit-deposit ratio (CD ratio) of banks is 80.04 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, they still have the capacity to provide loans of more than Rs 600 billion.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20074', 'image' => '20240226034018_Banks.jpg', 'article_date' => '2024-02-26 15:39:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20346', 'article_category_id' => '1', 'title' => 'DoI Issues Online Route Permits for Tourists Visiting Restricted Areas', 'sub_title' => '', 'summary' => 'February 26: The Department of Immigration (DoI) has started issuing route permits for domestic and foreign tourists to visit restricted areas through electronic system (online), the state-owned RSS reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The Department of Immigration (DoI) has started issuing route permits for domestic and foreign tourists to visit restricted areas through electronic system (online), the state-owned RSS reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the RSS, the DoI made the online arrangements to issue route permits to facilitate the tourists visiting the restricted areas under the initiative of the Trekking Agencies Association of Nepal (TAAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Until now, the department used to issu permits to tourists visiting the restricted areas only through the time-consuming paper works. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">TAAN General Secretary Binod Sapkota said that the route permits can be obtained online since last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, online route permits have been issued to three Chinese citizens through Magical Nepal Pvt Ltd. Among the Chinese nationals whose route permits were issued online are Bing Si, Chichi Ping, and Winhua Luo. This development is expected to ease the journey for tourists visiting upper Mustang, upper Dolpo, Chum and Nubri valleys in the Manaslu region of Gorkha, as well as Simikot, Changkheli, Namkha in Humla, and Kanchenjunga in Taplejung.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">TAAN President Nilhari Bastola told RSS that the online route permits for the restricted areas will make the trek easier for both tourists and entrepreneurs. "The easier we make it for the tourists, the more tourists will visit Nepal. I believe this online service will be beneficial for the tourism industry," RSS quoted Bastola as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Acting director general of DoI, Krishna Bahadur Katuwal said that the long time-consuming process of obtaining route permits has come to an end with the launch of the online permit system.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, tourists can now easily get permits from their company and personal accounts through 'QR payment'. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20073', 'image' => '20240226030828_upper-mustang-trek.jpg', 'article_date' => '2024-02-26 15:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20345', 'article_category_id' => '1', 'title' => 'Rafting Business in Crisis due to Hydropower Project ', 'sub_title' => '', 'summary' => 'February 26: Stakeholders have expressed concern over the proposed Super Trishuli Hydropower Project, which poses existential crisis to the rafting business. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Stakeholders have expressed concern over the proposed Super Trishuli Hydropower Project, which poses existential crisis to the rafting business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As preliminary work for the construction of 100 MW Super Trishuli Hydropower Project to be built between Battar of Gorkha and Chumkhola of Chitwan has started, people's representatives, rafting entrepreneurs and river conservation activists took part in a public hearing held at Fisling of Ichchakamana Rural Municipality on Sunday to discuss the matter of public importance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, provincial assembly member Krishna Silwal said that the environment and existence of rivers should not be put into danger in the name of development. He pledged to do his best to stop it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, President of Nepal Rafting Association, Shiva Adhikari, said that the proposed hydroelectric project will put 84 companies related to the riverside rafting and boating business in a crisis. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Billions of investments in hotel business, rafting and other companies are in a crisis with the livelihood of 3,500 guides and 10,000 workers at stake," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of Nepal River Conservation Trust Megh Aley said that the wealth of the nation which attracts many tourists should not be jeopardized. Development by drying up the river is unfortunate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Association of Rafting Agencies (NARA) had earlier protested saying that the entire investment of the rafting industry is going to waste with the construction of hydroelectric projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trishuli is one of the major rivers for rafting among the 16 different rivers that the government has permitted for rafting. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20072', 'image' => '20240226021630_adventure-activities-nepal-rafting-river.jpg', 'article_date' => '2024-02-26 14:08:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20344', 'article_category_id' => '1', 'title' => 'Process of Appointing SEBON Chair to Pick Up Pace from this Week', 'sub_title' => '', 'summary' => 'February 26: The recommendation committee for the post of the chairman of the Securities Board of Nepal (SEBON), which is vacant since January 5, will start its work to recommend names for the post from this week.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The recommendation committee for the post of the chairman of the Securities Board of Nepal (SEBON), which is vacant since January 5, will start its work to recommend names for the post from this week. A meeting of the Council of Ministers had formed the three-member recommendation committee for the appointment of the board’s chairman on January 17 under the coordination of Min Bahadur Shrestha, vice chairman of the National Planning Commission.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Among the members of the committee are the Secretary of the Ministry of Finance Krishnahari Pushkar and Professor Uday Niraula.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The committee has already prepared the necessary procedure for the appointment of the board’s chairman and informed that the appointment process will be started from this week according to the same procedure. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Admitting that the recommendation process was delayed due to the busy schedule of the coordinator of the recommendation committee and the finance secretary, the committee said that the process will proceed without any more delay. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Securities Act 2063 has a provision to form a committee consisting of the finance secretary and an expert related to the securities sector under the coordination of the member of the National Planning Commission to recommend the chairman to the board. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recommendation committee will recommend the names of three qualified candidates from among the applicants. One of the three people recommended by the committee will be appointed as the chairman of the board for the next four-year term by the cabinet meeting. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the Securities Act, the candidate for the post of SEBON chair must have at least a master's degree, at least seven years of work experience in securities market management or capital market development or any of the fields related to economy, finance, commerce, management or law.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Eligible candidates can apply for the post according to the same provision.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders argue that the regulatory body of the securities market, which has assets of more than Rs 3100 billion, should not be without a leadership for a long time. As the board is without a leader, the approval process of public issuance of securities has been stalled recently.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">No company has received permission for public issuance of shares in the securities market since January 4. Ramesh Kumar Hamal had allowed Reliance Spinning Mills Limited to issue shares through the book building method on January 4 a day before his term ended.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the first phase, the company has been allowed to issue and sell 770,640 units of shares to eligible institutional investors at a minimum price of Rs 608 to a maximum of Rs 912 per share. At present, 34 companies have applied with the board for the issuance of ordinary shares.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, five more companies are in line for further public offering (FPO). There are 9 companies in line for issuing rights shares. One company has applied for the issuance of bonds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders have demand the process of appointment of the chairman of SEBON must be completed as soon as possible as billions of rupees are traded daily in the secondary market.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20071', 'image' => '20240226011210_Sebon-update.jpg', 'article_date' => '2024-02-26 13:11:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20343', 'article_category_id' => '1', 'title' => 'Era of Insecurity is Resetting Global Defence-Industrial Landscape', 'sub_title' => 'Global Conflicts Herald 'Dangerous Decade': Military Think-Tank', 'summary' => 'February 26: The Israel-Hamas war, ongoing fighting in Ukraine and rising tensions in the Indo-Pacific and Africa herald "what is likely to be a more dangerous decade," a British military think-tank recently warned.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The Israel-Hamas war, ongoing fighting in Ukraine and rising tensions in the Indo-Pacific and Africa herald "what is likely to be a more dangerous decade," a British military think-tank recently warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the AFP, the International Institute for Strategic Studies (IISS) said in its annual "Military Balance" report that the world has entered "a highly volatile security environment", which is set to endure.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The current military-security situation heralds what is likely to be a more dangerous decade, characterised by the brazen application by some of military power to pursue claims," the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It also noted "the desire among like-minded democracies for stronger bilateral and multilateral defence ties in response".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The "era of insecurity" is resetting the global defence-industrial landscape, with the US and Europe ramping up production of missiles and ammunition "after decades of underinvestment," the report added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As the two-year anniversary of Russia's invasion of Ukraine looms, the London-based IISS reported that Moscow had lost around 3,000 battle tanks in the conflict, roughly the same number it had at the beginning of its operation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IISS said that Russia had been forced to trade "quality for quantity" in its efforts to replace tanks lost since it invaded its neighbour to the west in February 2022.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Ukraine, so far, has been able to offset equipment losses through Western donations, upgrading quality in the process," added the think-tank in its yearly assessment of the militaries and defence economics of over 170 countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NATO 'reinvigorated' </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Driven in part by NATO member states response to Russia's invasion, global military spending grew by 9 percent in 2022 to reach a record $2.2 trillion, it noted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report comes days after White House hopeful Donald Trump said he had previously told an unspecified NATO member's leader that he would "encourage" Russia to "to do whatever the hell they want" in that country if it had not met its NATO financial obligations.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"You got to pay. You got to pay your bills," Trump recounted at a campaign rally in South Carolina Saturday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Only 10 members of the Western-led security alliance met the group's target of spending two percent of GDP on defence, although 19 of them increased spending last year, according to IISS figures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Russia's actions have reinvigorated NATO, with Finland completing its rapid alliance accession process in April 2023," the report noted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Russia's border with NATO members is now more than 1,300 kilometres longer."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Elsewhere, the annual report said that Iran's supply of missiles to Huthi rebels in Yemen and drones to Russia highlighted Tehran's growing influence in conflict zones.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China had also demonstrated "increased power-projection capacity", it added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The IISS Military Balance study is published at an important time when the rules-based order is being increasingly questioned," AFP quoted Bastian Giegerich, the chief executive of IISS, as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"While Western defence spending is rising and plans to revamp equipment are ongoing, we reflect on the challenges including those set by Russia's ongoing invasion of Ukraine, China's military modernisation and events in the Middle East," he added. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20070', 'image' => '20240226115229_Ukraine-War-Russian-Tank-Destroyed-768x432.jpg', 'article_date' => '2024-02-26 11:51:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20342', 'article_category_id' => '1', 'title' => 'Five Proposals Selected for Final of Hult Prize', 'sub_title' => '', 'summary' => 'February 26: The organisers of the Hult Prize have selected five proposals for the final round of the event from among 13 participating teams who pitched their innovative business ideas during the semifinals held at the Kathmandu University.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">February 26: The organisers of the Hult Prize have selected five proposals for the final round of the event from among 13 participating teams who pitched their innovative business ideas during the semifinals held at the Kathmandu University. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Hult Prize is being sponsored by Canadian Study Center and Agni Mahindra Group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The proposals were selected on the basis of competence after evaluation by experts from various fields. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The proposals selected for the finals include Dr. Fish, Ladies with a Lamp, Hempire, The Upcyclers and Kodoko Khaja. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The final is scheduled to be held on Tuesday (February 27) at Kathmandu University, Dhulikhel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Eighteen different organizations have helped sponsor the program and also provide necessary training to the participants.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20069', 'image' => '20240226112030_20240111013141_1704935057.2UlBO0Jn_400x400.jpg', 'article_date' => '2024-02-26 11:19:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20341', 'article_category_id' => '1', 'title' => 'Department of Revenue Investigation Monitors Dry Port for Misuse of Green Lane', 'sub_title' => '', 'summary' => 'February 25: The Department Revenue Investigation has started monitoring the case of misuse of the green lane of Birganj Dry Port in which prohibited goods were imported in the guise of other goods mentioned in the declaration form.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 25: The Department Revenue Investigation has started monitoring the case of misuse of the green lane of Birganj Dry Port in which prohibited goods were imported in the guise of other goods mentioned in the declaration form.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs is currently investigating this case suspecting collusion between the then high-ranking officials of the Department of Customs and the Dry Port Customs Office. According to the officials of the Department of Customs, the collusion took place in the interest and under the protection of the then ruling party.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Director General of the Department of Revenue Investigation Nawa Raj Dhungana said that although the responsibility of preliminary investigation and action lies with the department, the Department Revenue Investigation has been constantly monitoring the issue. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The Department of Customs will take action according to the law. If not, we will investigate. Currently, we are collecting the necessary information required for the investigation," Dhungana, Director General of Department of Revenue Investigation, told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Dry Port Customs Office initiated investigation after finding betel nuts in containers labeled as chicken feed and scooters labeled as hardware.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">An officer of the Department of Customs said that after opening 400 containers stored at the port for four years, more than 100 containers were found to have goods other than that mentioned in the labels.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The incident came to light after the government banned the imports of peas, betel nuts, pepper, dry dates and liquor in 2076 saying that there was pressure in the foreign exchange reserves.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-25', 'modified' => '2024-02-25', 'keywords' => '', 'description' => '', 'sortorder' => '20068', 'image' => '20240225040940_20220102031417_20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2024-02-25 16:09:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20356', 'article_category_id' => '1', 'title' => 'Government Presents Principles and Priorities of Appropriation Bill in Parliament', 'sub_title' => 'Parliament to Begin Discussions on Principles and Priorities of Appropriation Bill on March 4 ', 'summary' => 'February 27: The government has presented Principles and Priorities of the Appropriation Bill for the fiscal year 2081-82 BS in parliament. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: The government has presented Principles and Priorities of the Appropriation Bill for the fiscal year 2081-82 BS in parliament. The government amended the existing laws to present the bill three months before the announcement of the annual budget.</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"">Finance Minister Dr Prakash Sharan Mahat presented a proposal for discussing the principles and priorities of the Appropriation Bill (except taxation) at a meeting of the House of Representatives on Monday. While presenting the bill, Finance Minister Mahat claimed that the upcoming budget will elevate the country’s economy to the standard of global economy and will fulfill the basic needs of the people and also uplift the living standard of people facing financial hardship.</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 parliament will begin in-principle discussions on the Principles and Priorities of the Appropriation Bill for the upcoming fiscal year from March 4. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As scheduled by Speaker Devraj Ghimire, the deliberations on the principles and priorities of the Appropriation Bill will be held for seven days beginning on March 4 and conclude on March 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office-bearers of parliamentary parties should register name of lawmakers taking part in the deliberations at the Federal Parliament Secretariat one hour before the commencement of the session. The registration shall be made on the basis of the political representation in the parliament. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20083', 'image' => '20240227125703_Parliament.jpg', 'article_date' => '2024-02-27 12:56:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20355', 'article_category_id' => '1', 'title' => 'PM Directs to Immediately Release Dues of Milk to Farmers ', 'sub_title' => '', 'summary' => 'February 27: Prime Minister Pushpa Kamal Dahal has directed all stakeholders to immediately release the dues to the milk producers for the purchase of diary products. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: Prime Minister Pushpa Kamal Dahal has directed all stakeholders to immediately release the dues to the milk producers for the purchase of diary products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM summoned Finance Minister Dr Prakash Sharan Mahat, Minister for Agriculture and Livestock Development Dr Beduram Bhusal and Chief Secretary Dr Baikuntha Aryal at his office on Monday and directed them to ensure the release of the outstanding dues to the farmers immediately.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the PM's Secretariat, the PM has directed the government authorities to make sure that the farmers receive payments from the private sector as well and to initiate action in case the payment is not done.</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"">"What is the reason for the non-payment to farmers for several months? Take this issue seriously. Make facilitation to immediately pay the amount for the farmers from the private sector," the PM directed the ministers. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20082', 'image' => '20240227114913_milk.jpg', 'article_date' => '2024-02-27 11:48:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20354', 'article_category_id' => '1', 'title' => 'Geopolitical Tensions Threatening Global Commerce and Multilateral Trading Systems: WTO', 'sub_title' => '', 'summary' => 'February 27: The World Trade Organization pushed for reform at a high-level ministerial meeting in Abu Dhabi Monday, warning that economic headwinds and geopolitical tensions are threatening global commerce and multilateral trading systems.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">February 27: The World Trade Organization pushed for reform at a high-level ministerial meeting in Abu Dhabi Monday, warning that economic headwinds and geopolitical tensions are threatening global commerce and multilateral trading systems.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the United Arab Emirates, is the first in two years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO is hoping for progress, particularly on fishing, agriculture and electronic commerce.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">But big deals are unlikely as the body's rules require full consensus among all 164 member states -- a tall order in the current climate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Speaking on the first day of MC13, WTO Director-General Ngozi Okonjo-Iweala said that "multilateralism is under attack from all sides," highlighting a need to "reform the multilateral trading system" and boost international cooperation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"Looking around, uncertainty and instability are everywhere," the WTO chief said, adding that the world is in an "even tougher place today" compared to two years ago when WTO trade ministers last met.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Okonjo-Iweala did not name countries, but tensions have risen between the West and Russia and China in recent years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The war in Gaza and related attacks by Yemeni rebels on ships in the Red Sea have added to the challenges.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Reiterating warnings that signs of "fragmentation" are appearing in the global economy, Okonjo-Iweala said trade volumes for 2023 likely fell below the WTO's October forecast. Trade volumes may also not reach WTO's growth estimates for this year, she warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Her push for reform was echoed by UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, who said he hoped MC13 would serve as a "launch pad" for necessary reforms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"The world has changed. And institutions like the WTO need to evolve too," European Trade Commissioner Valdis Dombrovskis said on Monday, adding that "geopolitical tensions are on the rise. We are faced with crises wherever we look."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:16.0pt">'Dispute settlement reform'</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">During the WTO's last ministerial meeting, held at its Geneva headquarters in June 2022, trade ministers nailed down a historic deal banning fisheries subsidies harmful to marine life and agreed to a temporary patent waiver for Covid-19 vaccines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">They also committed themselves to re-establishing a dispute settlement system which Washington had brought to a grinding halt in 2019 after years of blocking the appointment of new judges to the WTO's appeals court.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"Our challenge this week is to... demonstrate that MC12 wasn't a one-off miracle," Okonjo-Iweala said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"I have seen the US engage more and I have to say they have been quite constructive," she told a press conference, dismissing claims of an American leadership vacuum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO faces pressure to eke out progress on reform in Abu Dhabi ahead of the possible re-election of Donald Trump as US president.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">During his four years in office from 2017 to 2021, Trump threatened to pull the United States out of the trade body and disrupted its ability to settle disputes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"There will be the US elections in November... so this is the last chance," a diplomatic source in Geneva told AFP on condition of anonymity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On Monday, US Trade Representative Katherine Tai said "reform is squarely on the agenda for this week."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">That includes "dispute settlement reform, where the goal is not just to go back to the way things used to be, but rather to provide confidence that the system is fair," she said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">But Marcelo Olarreaga, economics professor at the University of Geneva, said the other members of the WTO "cannot expect huge concessions" from the administration of US President Joe Biden in an election year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:16.0pt">Fisheries deal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">While there is doubt over progress at the WTO on key issues, there is hope for advances on a new global agreement on tackling fisheries subsidies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">After striking an agreement in 2022, which banned subsidies contributing to illegal, undeclared and unregulated fishing, the WTO hopes to conclude a second deal, this time focusing on subsidies which fuel overcapacity and overfishing.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"We are within sight of ratifying the fisheries subsidies agreement," Okonjo-Iweala said on Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">WTO trade ministers could also make advances on facilitating aid for developing countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On Monday, the Comoros and East Timor were accepted as WTO members.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Their accession comes a day after more than 120 WTO member states said they finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Despite broad backing, some members may still oppose its integration into the WTO, including India, which typically objects to agreements that do not cover all countries. -- AFP/RSS</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20081', 'image' => '20240227105611_wtov2-01.jpg', 'article_date' => '2024-02-27 10:55:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20353', 'article_category_id' => '1', 'title' => 'Tourists Start Visiting Annapurna Circuit', 'sub_title' => '', 'summary' => 'February 27: With the onset of the spring season, tourists have started to arrive on the Annapurna Circuit, a renowned foot trail which looked deserted until some time ago.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">February 27: With the onset of the spring season, tourists have started to arrive on the Annapurna Circuit, a renowned foot trail which looked deserted until some time ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">This famous trail, which covers five districts of central Nepal, is once again bustling with tourists with the beginning of the trekking season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Bhupendra Gurung, in-charge of the Annapurna Conservation Area Project (ACAP)’s tourist screening and information center in Dharapani, Manang, said that around 25 to 30 foreign tourists are visiting this trail on a daily basis. He added that this route has been deserted for about two months due to excessive cold.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Gurung said that until recently only around five tourists used to visit this place on an average day, but now the arrival of tourists is expected to increase gradually. He said that the tourism business has come back to life as tourists have started to show up in this foot trail, which was deserted due to the extreme cold during winter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Even the people of Manang, who had gone outside the districts to escape the unforgiving cold, have slowly started returning back. Pancha Bahadur Gurung, a tourism entrepreneur of Marsyangdi Rural Municipality-4, said that they are busy now with the arrival of tourists.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">The locals have also started making income with the arrival of tourists. Gurung said that mostly Israeli citizens used to visit this place around this time of year, but there are no Israeli tourists this year due to the war between Israel and Hamas.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Gurung, the tourism entrepreneur, mentioned that the daily business is more than Rs 60,000 due to the increase in number of tourists. Tourists have already booked his hotel for almost a month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Other tourism entrepreneurs like him, including Mekh Bahadur Gurung, Khushiram Gurung, Devijung Gurung, Chet Bahadur Gurung, Bag Bahadur Gurung Purna Bahadur Gurung, Rajman Gurung and hundreds of other hoteliers around this foot trail have now started getting back work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Hotel business in the Chautara area of Lamjung, the entrance to the Annapurna Circuit has also started to flourish. Five districts namely Lamjung, Manang, Kaski, Mustang and Myagdi are connected to this trail.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Foreign tourists come to see the scenery of the rustic mountains and hills, the culture and customs and natural beauty of Manang. The visitors have to climb the Thorang Pass from Manang and then descend to Pokhara via Mustang on the Annapurna Circuit. Tourists come here especially to see Thorangla Pass, Larke Pass, and Kalla Pass as well as Tilicho Lake which is arguably the highest lake in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">This foot trail also offers breathtaking views of mountains like Gangapurna, Zulu Peak, Pisang Peak, Nilgiri and Tilicho Peak as well as the Annapurna II, III and IV. Starting from Lamjung’s Bensisahar, the journey of Annapurna Circuit takes the visitors through Dharapani, Manang, Thorangla Pass, Muktinath, Jomsom, Ghorepani and concludes in Pokhara.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">In the past, the journey of this foot trail used to take 18 days but has now been shortened due to the expansion of the road.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20080', 'image' => '20240227095457_20220508080527_Annapurna circuit (3).jpg', 'article_date' => '2024-02-27 09:54:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20351', 'article_category_id' => '1', 'title' => 'Nepal Imports Lipsticks Worth More Than Rs 400 Million in Current FY', 'sub_title' => '', 'summary' => 'February 26: Nepal spent more than Rs 410 million for importing lipsticks from different countries in the first seven months of the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">February 26: Nepal spent more than Rs 410 million for importing lipsticks from different countries in the first seven months of the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of the Department of Customs, lipsticks worth Rs 411.7 million were imported into Nepal from mid-July 2023 to mid-January 2024. The statistics of the department showed that a total of 122,454 kilograms of lipsticks were imported into the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">During the corresponding period of last fiscal year, Nepal had imported 147,087 kilograms of lipsticks worth Rs 234.43 million. Compared to the first seven months of last fiscal year, the import of lipsticks has decreased by 16 percent in terms of quantity, while the price has increased by 75 percent in the current FY.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of the last seven months, China tops the list of countries from where Nepal imports lipsticks. During the review period, 68,113 kilograms of lipsticks worth Rs 194.8 million entered Nepal from China.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">India ranks second in the list of countries from which Nepal imports lipsticks. In the last seven months, Nepal imported 51,745 kg of lipsticks worth Rs 168.154 million from India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Along with China and India, Nepal also imports lipsticks from Turkey, Italy, Germany, the United States of America, Thailand, Taiwan, South Korea, Canada, the Philippines, Hong Kong, Malaysia, Saudi Arabia, Poland, Japan, the Netherlands, the United Kingdom, Mexico, Australia, Denmark, Luxembourg, Pakistan, the United Arab Emirates, Israel, Uzbekistan, France, Greece and other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period of the current fiscal year, Nepal imported 23,300 kg of lipsticks worth Rs 3.2 million from America.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20078', 'image' => '20240226092801_Untitled.jpg', 'article_date' => '2024-02-26 21:27:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20350', 'article_category_id' => '1', 'title' => 'CAN Announces Rs 100,000 Monthly Remuneration for Grade 'A' Male Players ', 'sub_title' => '', 'summary' => 'February 26: Cricket Association of Nepal (CAN) has decided to provide monthly remuneration of Rs 100,000 to each of the male cricketers listed in Grade 'A'. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Cricket Association of Nepal (CAN) has decided to provide monthly remuneration of Rs 100,000 to each of the male cricketers listed in Grade 'A'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A board meeting of CAN Board held from February 24 to 26 took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">National cricket team captain Rohit Kumar Paudel, Sompal Kami, Dipendra Singh Airee, Asif Sheikh and Kushal Bhurtel are listed as 'A' grade cricketers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CAN has announced a monthly remuneration of Rs 70,000 per month for each of the five players of Grade 'B' including Kushal Malla, Gulshan Jha, Bhim Sarki, Lalit Narayan Rajbanshi and Abhinash Bohora. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the board meeting, Binod Bhandari, Arjun Saud, Sundeep Jora and Pratish GC, who belong to 'C' grade, will get a monthly remuneration of Rs 55,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Grade 'D' players, including Pawan Sarraf, Sagar Dhakal, Anil Shah, Bibek Kumar Yadav, Akash Chand, Basir Ahamad and Surya Tamang will be given Rs 35,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAN also announced monthly remuneration of Rs 25,000 each to those players who fall under the category of emerging players which includes Dipesh Kandel, Rupesh Singh, Rijan Dhakal, Bipin Khatri, Dev Khanal, Arjun Gharti and Hemant Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The monthly remuneration for women cricketers of Grade 'A' has been fixed at Rs 50,000 per month each. The list of 'A' grade women cricketers includes Indu Berma, Rubina Chhetri and Sita Rana Magar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'B' grade women cricketers who will get Rs 35,000 per month is Kabita Kunwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Puja Mahato and Ashmina Karmacharya, who fall under the category of Grade 'C', will get Rs 30,000 per month while Apsari Begam, Kabita KC, Sangita Rai, Kajol Shrestha and Bindu Rawal representing Grade 'D' are eligible to get Rs 25,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the group of emerging women players comprising Soni Pakhrin, Khusi Dangol, Jyotsnika Marasini, Kanchan Shrestha, Shristi Jaisi, Samjhana Khadka and Sana Prabin will to get Rs 20,000 each per month. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20077', 'image' => '20240226090307_GGinoAWXUAEsCn0.jpg', 'article_date' => '2024-02-26 21:02:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20349', 'article_category_id' => '1', 'title' => 'Noted Singer, Musician Bhakta Raj Acharya No More', 'sub_title' => '', 'summary' => 'February 26: Noted singer and musician Bhakta Raj Acharya passed away at the age of 82 on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Noted singer and musician Bhakta Raj Acharya passed away at the age of 82 on Monday. Decorated with the title 'Bhajan Shiromani', Acharya breathed his last while being taken to hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Musician Chetan Sapkota informed RSS that Acharya was being taken to Medicity Hospital after a sudden decrease in oxygen level in his body. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had sung nearly 400 songs including- 'Mutu jali rahechha,' 'Jati chot dinchhau', 'Jaha chhan Buddhaka ankha', 'Hajar ankha herne', 'Maya meri sanjha bihan'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Acharya's body would be kept on the premises of the Academy of Music and Drama at 9:00 am for tribute on Tuesday, according to musician Sapkota. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Acharya's two sons Satya Raj and Swarup Raj are also active in the field of music. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20076', 'image' => '20240226084937_k.jpg', 'article_date' => '2024-02-26 20:48:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20348', 'article_category_id' => '1', 'title' => 'Majority of WTO Members Sign Investment Deal for Development ', 'sub_title' => '', 'summary' => 'February 26: More than 120 WTO member states have finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles, the global trade body said Sunday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 26: More than 120 WTO member states have finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles, the global trade body said Sunday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Investment Facilitation for Development (IFD) Agreement, signed by 75 percent of the World Trade Organization's members, would require full consensus before it could be formally incorporated, as per the body's rules. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Despite broad backing, some members may still oppose its integration into the WTO, including India, which typically objects to agreements that do not cover all countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The deal was made public on the WTO's website hours before the trade body kicked off its 13th ministerial conference in Abu Dhabi. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim of fostering sustainable development, according to the text. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">To achieve this, participating countries have agreed "to improve the transparency of measures, streamline administrative procedures, adopt other investment facilitation measures and promote international cooperation." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> WTO chief Ngozi Okonjo-Iweala called it a "pioneering agreement that promises to help its signatories attract the foreign direct investment they want to drive growth." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Valdis Dombrovskis, the European Union's trade chief, said "it constitutes an opportunity for developing and least-developed countries to boost their capacity to attract more investment." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The signatories have issued a submission asking for it to be incorporated into the WTO during the Abu Dhabi meeting, which is scheduled to last until February 29. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Its incorporation would allow other member states to join on a voluntary basis."We call on all WTO Members to support its incorporation into the WTO system at MC13," said China's Commerce Minister Wang Wentao. – AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20075', 'image' => '20240226060754_wto.jpg', 'article_date' => '2024-02-26 18:07:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20347', 'article_category_id' => '1', 'title' => 'Banks Transfer Almost Rs 100 Billion to NRB under Standing Deposit Facility', 'sub_title' => '', 'summary' => 'February 26: Banks and financial institutions have deposited nearly Rs 100 billion in Nepal Rastra Bank in a single day. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: Banks and financial institutions have deposited nearly Rs 100 billion in Nepal Rastra Bank in a single day. Due to the excess liquidity in the banking system, the banks deposited the amount in the central bank on Sunday under the standing deposit facility, an overnight facility that enables banks to transfer excess liquidity to earn higher rate of interest.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In order to effectively implement the interest rate corridor, the central bank started the standing deposit facility from mid-February to allow the banks and financial institutions to deposit their excess liquidity with the central bank. Under this facility, bank deposits worth Rs 96.15 billion were transferred to the Nepal Rastra Bank on Sunday alone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This is the highest amount deposited in the central bank after the introduction of this facility. So far, banks have already used this facility four times depositing Rs 253.65 billion with the central bank. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">An official of the central bank said that large amount of liquidity is being stocked at the NRB due to excess liquidity in the banking system.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Large amounts of deposits have started to flow to the central bank under the standing deposit facility," said the official, adding, "It seems that banks do not want to take the risk of credit disbursement."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the regulations and procedures related to the open market transactions, there is a provision to provide standing deposit facility to banks for two days a week on every Sunday and Wednesday. Banks are entitled to receive 3 percent for the deposits under this facility with a maturity period of four days.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the current fiscal year (FY), banks and financial institutions have excess liquidity as the deposit collection is higher than credit flow. In order to manage excess liquidity in the financial system, the central bank started issuing deposit collection tools from mid-November of the current fiscal year and raised Rs 550 billion by mid-February. However, as the central bank could not maintain short-term interest rate according to the interest rate corridor, it started the standing deposit facility from mid-February as per the announcement made in the monetary policy. After the launch of the facility, the short-term interest rate has remained within the lower limit of the corridor.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the 'Interest Rate Corridor Procedure - 2076', there is an arrangement to set the upper limit bank rate and the lower limit of deposit collection rate and keep the interbank interest rate in between. For this, there is a provision for the central bank to use various monetary instruments for liquidity flow and mopping excess liquidity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Nepal Rastra Bank, as of last Thursday, banks have collected deposits of Rs 6167 billion and provided loans of Rs 5086 billion. In the fiscal current year, bank deposits have increased by Rs 396 billion, while credit flow increased by Rs 208 billion only. The average credit-deposit ratio (CD ratio) of banks is 80.04 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, they still have the capacity to provide loans of more than Rs 600 billion.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20074', 'image' => '20240226034018_Banks.jpg', 'article_date' => '2024-02-26 15:39:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20346', 'article_category_id' => '1', 'title' => 'DoI Issues Online Route Permits for Tourists Visiting Restricted Areas', 'sub_title' => '', 'summary' => 'February 26: The Department of Immigration (DoI) has started issuing route permits for domestic and foreign tourists to visit restricted areas through electronic system (online), the state-owned RSS reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The Department of Immigration (DoI) has started issuing route permits for domestic and foreign tourists to visit restricted areas through electronic system (online), the state-owned RSS reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the RSS, the DoI made the online arrangements to issue route permits to facilitate the tourists visiting the restricted areas under the initiative of the Trekking Agencies Association of Nepal (TAAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Until now, the department used to issu permits to tourists visiting the restricted areas only through the time-consuming paper works. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">TAAN General Secretary Binod Sapkota said that the route permits can be obtained online since last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, online route permits have been issued to three Chinese citizens through Magical Nepal Pvt Ltd. Among the Chinese nationals whose route permits were issued online are Bing Si, Chichi Ping, and Winhua Luo. This development is expected to ease the journey for tourists visiting upper Mustang, upper Dolpo, Chum and Nubri valleys in the Manaslu region of Gorkha, as well as Simikot, Changkheli, Namkha in Humla, and Kanchenjunga in Taplejung.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">TAAN President Nilhari Bastola told RSS that the online route permits for the restricted areas will make the trek easier for both tourists and entrepreneurs. "The easier we make it for the tourists, the more tourists will visit Nepal. I believe this online service will be beneficial for the tourism industry," RSS quoted Bastola as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Acting director general of DoI, Krishna Bahadur Katuwal said that the long time-consuming process of obtaining route permits has come to an end with the launch of the online permit system.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, tourists can now easily get permits from their company and personal accounts through 'QR payment'. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20073', 'image' => '20240226030828_upper-mustang-trek.jpg', 'article_date' => '2024-02-26 15:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20345', 'article_category_id' => '1', 'title' => 'Rafting Business in Crisis due to Hydropower Project ', 'sub_title' => '', 'summary' => 'February 26: Stakeholders have expressed concern over the proposed Super Trishuli Hydropower Project, which poses existential crisis to the rafting business. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Stakeholders have expressed concern over the proposed Super Trishuli Hydropower Project, which poses existential crisis to the rafting business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As preliminary work for the construction of 100 MW Super Trishuli Hydropower Project to be built between Battar of Gorkha and Chumkhola of Chitwan has started, people's representatives, rafting entrepreneurs and river conservation activists took part in a public hearing held at Fisling of Ichchakamana Rural Municipality on Sunday to discuss the matter of public importance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, provincial assembly member Krishna Silwal said that the environment and existence of rivers should not be put into danger in the name of development. He pledged to do his best to stop it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, President of Nepal Rafting Association, Shiva Adhikari, said that the proposed hydroelectric project will put 84 companies related to the riverside rafting and boating business in a crisis. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Billions of investments in hotel business, rafting and other companies are in a crisis with the livelihood of 3,500 guides and 10,000 workers at stake," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of Nepal River Conservation Trust Megh Aley said that the wealth of the nation which attracts many tourists should not be jeopardized. Development by drying up the river is unfortunate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Association of Rafting Agencies (NARA) had earlier protested saying that the entire investment of the rafting industry is going to waste with the construction of hydroelectric projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trishuli is one of the major rivers for rafting among the 16 different rivers that the government has permitted for rafting. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20072', 'image' => '20240226021630_adventure-activities-nepal-rafting-river.jpg', 'article_date' => '2024-02-26 14:08:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20344', 'article_category_id' => '1', 'title' => 'Process of Appointing SEBON Chair to Pick Up Pace from this Week', 'sub_title' => '', 'summary' => 'February 26: The recommendation committee for the post of the chairman of the Securities Board of Nepal (SEBON), which is vacant since January 5, will start its work to recommend names for the post from this week.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The recommendation committee for the post of the chairman of the Securities Board of Nepal (SEBON), which is vacant since January 5, will start its work to recommend names for the post from this week. A meeting of the Council of Ministers had formed the three-member recommendation committee for the appointment of the board’s chairman on January 17 under the coordination of Min Bahadur Shrestha, vice chairman of the National Planning Commission.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Among the members of the committee are the Secretary of the Ministry of Finance Krishnahari Pushkar and Professor Uday Niraula.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The committee has already prepared the necessary procedure for the appointment of the board’s chairman and informed that the appointment process will be started from this week according to the same procedure. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Admitting that the recommendation process was delayed due to the busy schedule of the coordinator of the recommendation committee and the finance secretary, the committee said that the process will proceed without any more delay. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Securities Act 2063 has a provision to form a committee consisting of the finance secretary and an expert related to the securities sector under the coordination of the member of the National Planning Commission to recommend the chairman to the board. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recommendation committee will recommend the names of three qualified candidates from among the applicants. One of the three people recommended by the committee will be appointed as the chairman of the board for the next four-year term by the cabinet meeting. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the Securities Act, the candidate for the post of SEBON chair must have at least a master's degree, at least seven years of work experience in securities market management or capital market development or any of the fields related to economy, finance, commerce, management or law.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Eligible candidates can apply for the post according to the same provision.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders argue that the regulatory body of the securities market, which has assets of more than Rs 3100 billion, should not be without a leadership for a long time. As the board is without a leader, the approval process of public issuance of securities has been stalled recently.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">No company has received permission for public issuance of shares in the securities market since January 4. Ramesh Kumar Hamal had allowed Reliance Spinning Mills Limited to issue shares through the book building method on January 4 a day before his term ended.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the first phase, the company has been allowed to issue and sell 770,640 units of shares to eligible institutional investors at a minimum price of Rs 608 to a maximum of Rs 912 per share. At present, 34 companies have applied with the board for the issuance of ordinary shares.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, five more companies are in line for further public offering (FPO). There are 9 companies in line for issuing rights shares. One company has applied for the issuance of bonds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders have demand the process of appointment of the chairman of SEBON must be completed as soon as possible as billions of rupees are traded daily in the secondary market.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20071', 'image' => '20240226011210_Sebon-update.jpg', 'article_date' => '2024-02-26 13:11:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20343', 'article_category_id' => '1', 'title' => 'Era of Insecurity is Resetting Global Defence-Industrial Landscape', 'sub_title' => 'Global Conflicts Herald 'Dangerous Decade': Military Think-Tank', 'summary' => 'February 26: The Israel-Hamas war, ongoing fighting in Ukraine and rising tensions in the Indo-Pacific and Africa herald "what is likely to be a more dangerous decade," a British military think-tank recently warned.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The Israel-Hamas war, ongoing fighting in Ukraine and rising tensions in the Indo-Pacific and Africa herald "what is likely to be a more dangerous decade," a British military think-tank recently warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the AFP, the International Institute for Strategic Studies (IISS) said in its annual "Military Balance" report that the world has entered "a highly volatile security environment", which is set to endure.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The current military-security situation heralds what is likely to be a more dangerous decade, characterised by the brazen application by some of military power to pursue claims," the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It also noted "the desire among like-minded democracies for stronger bilateral and multilateral defence ties in response".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The "era of insecurity" is resetting the global defence-industrial landscape, with the US and Europe ramping up production of missiles and ammunition "after decades of underinvestment," the report added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As the two-year anniversary of Russia's invasion of Ukraine looms, the London-based IISS reported that Moscow had lost around 3,000 battle tanks in the conflict, roughly the same number it had at the beginning of its operation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IISS said that Russia had been forced to trade "quality for quantity" in its efforts to replace tanks lost since it invaded its neighbour to the west in February 2022.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Ukraine, so far, has been able to offset equipment losses through Western donations, upgrading quality in the process," added the think-tank in its yearly assessment of the militaries and defence economics of over 170 countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NATO 'reinvigorated' </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Driven in part by NATO member states response to Russia's invasion, global military spending grew by 9 percent in 2022 to reach a record $2.2 trillion, it noted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report comes days after White House hopeful Donald Trump said he had previously told an unspecified NATO member's leader that he would "encourage" Russia to "to do whatever the hell they want" in that country if it had not met its NATO financial obligations.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"You got to pay. You got to pay your bills," Trump recounted at a campaign rally in South Carolina Saturday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Only 10 members of the Western-led security alliance met the group's target of spending two percent of GDP on defence, although 19 of them increased spending last year, according to IISS figures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Russia's actions have reinvigorated NATO, with Finland completing its rapid alliance accession process in April 2023," the report noted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Russia's border with NATO members is now more than 1,300 kilometres longer."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Elsewhere, the annual report said that Iran's supply of missiles to Huthi rebels in Yemen and drones to Russia highlighted Tehran's growing influence in conflict zones.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China had also demonstrated "increased power-projection capacity", it added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The IISS Military Balance study is published at an important time when the rules-based order is being increasingly questioned," AFP quoted Bastian Giegerich, the chief executive of IISS, as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"While Western defence spending is rising and plans to revamp equipment are ongoing, we reflect on the challenges including those set by Russia's ongoing invasion of Ukraine, China's military modernisation and events in the Middle East," he added. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20070', 'image' => '20240226115229_Ukraine-War-Russian-Tank-Destroyed-768x432.jpg', 'article_date' => '2024-02-26 11:51:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20342', 'article_category_id' => '1', 'title' => 'Five Proposals Selected for Final of Hult Prize', 'sub_title' => '', 'summary' => 'February 26: The organisers of the Hult Prize have selected five proposals for the final round of the event from among 13 participating teams who pitched their innovative business ideas during the semifinals held at the Kathmandu University.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">February 26: The organisers of the Hult Prize have selected five proposals for the final round of the event from among 13 participating teams who pitched their innovative business ideas during the semifinals held at the Kathmandu University. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Hult Prize is being sponsored by Canadian Study Center and Agni Mahindra Group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The proposals were selected on the basis of competence after evaluation by experts from various fields. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The proposals selected for the finals include Dr. Fish, Ladies with a Lamp, Hempire, The Upcyclers and Kodoko Khaja. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The final is scheduled to be held on Tuesday (February 27) at Kathmandu University, Dhulikhel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Eighteen different organizations have helped sponsor the program and also provide necessary training to the participants.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20069', 'image' => '20240226112030_20240111013141_1704935057.2UlBO0Jn_400x400.jpg', 'article_date' => '2024-02-26 11:19:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20341', 'article_category_id' => '1', 'title' => 'Department of Revenue Investigation Monitors Dry Port for Misuse of Green Lane', 'sub_title' => '', 'summary' => 'February 25: The Department Revenue Investigation has started monitoring the case of misuse of the green lane of Birganj Dry Port in which prohibited goods were imported in the guise of other goods mentioned in the declaration form.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 25: The Department Revenue Investigation has started monitoring the case of misuse of the green lane of Birganj Dry Port in which prohibited goods were imported in the guise of other goods mentioned in the declaration form.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs is currently investigating this case suspecting collusion between the then high-ranking officials of the Department of Customs and the Dry Port Customs Office. According to the officials of the Department of Customs, the collusion took place in the interest and under the protection of the then ruling party.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Director General of the Department of Revenue Investigation Nawa Raj Dhungana said that although the responsibility of preliminary investigation and action lies with the department, the Department Revenue Investigation has been constantly monitoring the issue. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The Department of Customs will take action according to the law. If not, we will investigate. Currently, we are collecting the necessary information required for the investigation," Dhungana, Director General of Department of Revenue Investigation, told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Dry Port Customs Office initiated investigation after finding betel nuts in containers labeled as chicken feed and scooters labeled as hardware.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">An officer of the Department of Customs said that after opening 400 containers stored at the port for four years, more than 100 containers were found to have goods other than that mentioned in the labels.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The incident came to light after the government banned the imports of peas, betel nuts, pepper, dry dates and liquor in 2076 saying that there was pressure in the foreign exchange reserves.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-25', 'modified' => '2024-02-25', 'keywords' => '', 'description' => '', 'sortorder' => '20068', 'image' => '20240225040940_20220102031417_20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2024-02-25 16:09:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20356', 'article_category_id' => '1', 'title' => 'Government Presents Principles and Priorities of Appropriation Bill in Parliament', 'sub_title' => 'Parliament to Begin Discussions on Principles and Priorities of Appropriation Bill on March 4 ', 'summary' => 'February 27: The government has presented Principles and Priorities of the Appropriation Bill for the fiscal year 2081-82 BS in parliament. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: The government has presented Principles and Priorities of the Appropriation Bill for the fiscal year 2081-82 BS in parliament. The government amended the existing laws to present the bill three months before the announcement of the annual budget.</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"">Finance Minister Dr Prakash Sharan Mahat presented a proposal for discussing the principles and priorities of the Appropriation Bill (except taxation) at a meeting of the House of Representatives on Monday. While presenting the bill, Finance Minister Mahat claimed that the upcoming budget will elevate the country’s economy to the standard of global economy and will fulfill the basic needs of the people and also uplift the living standard of people facing financial hardship.</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 parliament will begin in-principle discussions on the Principles and Priorities of the Appropriation Bill for the upcoming fiscal year from March 4. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As scheduled by Speaker Devraj Ghimire, the deliberations on the principles and priorities of the Appropriation Bill will be held for seven days beginning on March 4 and conclude on March 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office-bearers of parliamentary parties should register name of lawmakers taking part in the deliberations at the Federal Parliament Secretariat one hour before the commencement of the session. The registration shall be made on the basis of the political representation in the parliament. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20083', 'image' => '20240227125703_Parliament.jpg', 'article_date' => '2024-02-27 12:56:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20355', 'article_category_id' => '1', 'title' => 'PM Directs to Immediately Release Dues of Milk to Farmers ', 'sub_title' => '', 'summary' => 'February 27: Prime Minister Pushpa Kamal Dahal has directed all stakeholders to immediately release the dues to the milk producers for the purchase of diary products. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: Prime Minister Pushpa Kamal Dahal has directed all stakeholders to immediately release the dues to the milk producers for the purchase of diary products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM summoned Finance Minister Dr Prakash Sharan Mahat, Minister for Agriculture and Livestock Development Dr Beduram Bhusal and Chief Secretary Dr Baikuntha Aryal at his office on Monday and directed them to ensure the release of the outstanding dues to the farmers immediately.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the PM's Secretariat, the PM has directed the government authorities to make sure that the farmers receive payments from the private sector as well and to initiate action in case the payment is not done.</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"">"What is the reason for the non-payment to farmers for several months? Take this issue seriously. Make facilitation to immediately pay the amount for the farmers from the private sector," the PM directed the ministers. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20082', 'image' => '20240227114913_milk.jpg', 'article_date' => '2024-02-27 11:48:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20354', 'article_category_id' => '1', 'title' => 'Geopolitical Tensions Threatening Global Commerce and Multilateral Trading Systems: WTO', 'sub_title' => '', 'summary' => 'February 27: The World Trade Organization pushed for reform at a high-level ministerial meeting in Abu Dhabi Monday, warning that economic headwinds and geopolitical tensions are threatening global commerce and multilateral trading systems.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">February 27: The World Trade Organization pushed for reform at a high-level ministerial meeting in Abu Dhabi Monday, warning that economic headwinds and geopolitical tensions are threatening global commerce and multilateral trading systems.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the United Arab Emirates, is the first in two years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO is hoping for progress, particularly on fishing, agriculture and electronic commerce.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">But big deals are unlikely as the body's rules require full consensus among all 164 member states -- a tall order in the current climate.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Speaking on the first day of MC13, WTO Director-General Ngozi Okonjo-Iweala said that "multilateralism is under attack from all sides," highlighting a need to "reform the multilateral trading system" and boost international cooperation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"Looking around, uncertainty and instability are everywhere," the WTO chief said, adding that the world is in an "even tougher place today" compared to two years ago when WTO trade ministers last met.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Okonjo-Iweala did not name countries, but tensions have risen between the West and Russia and China in recent years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The war in Gaza and related attacks by Yemeni rebels on ships in the Red Sea have added to the challenges.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Reiterating warnings that signs of "fragmentation" are appearing in the global economy, Okonjo-Iweala said trade volumes for 2023 likely fell below the WTO's October forecast. Trade volumes may also not reach WTO's growth estimates for this year, she warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Her push for reform was echoed by UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, who said he hoped MC13 would serve as a "launch pad" for necessary reforms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"The world has changed. And institutions like the WTO need to evolve too," European Trade Commissioner Valdis Dombrovskis said on Monday, adding that "geopolitical tensions are on the rise. We are faced with crises wherever we look."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:16.0pt">'Dispute settlement reform'</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">During the WTO's last ministerial meeting, held at its Geneva headquarters in June 2022, trade ministers nailed down a historic deal banning fisheries subsidies harmful to marine life and agreed to a temporary patent waiver for Covid-19 vaccines.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">They also committed themselves to re-establishing a dispute settlement system which Washington had brought to a grinding halt in 2019 after years of blocking the appointment of new judges to the WTO's appeals court.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"Our challenge this week is to... demonstrate that MC12 wasn't a one-off miracle," Okonjo-Iweala said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"I have seen the US engage more and I have to say they have been quite constructive," she told a press conference, dismissing claims of an American leadership vacuum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The WTO faces pressure to eke out progress on reform in Abu Dhabi ahead of the possible re-election of Donald Trump as US president.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">During his four years in office from 2017 to 2021, Trump threatened to pull the United States out of the trade body and disrupted its ability to settle disputes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"There will be the US elections in November... so this is the last chance," a diplomatic source in Geneva told AFP on condition of anonymity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On Monday, US Trade Representative Katherine Tai said "reform is squarely on the agenda for this week."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">That includes "dispute settlement reform, where the goal is not just to go back to the way things used to be, but rather to provide confidence that the system is fair," she said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">But Marcelo Olarreaga, economics professor at the University of Geneva, said the other members of the WTO "cannot expect huge concessions" from the administration of US President Joe Biden in an election year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:16.0pt">Fisheries deal</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">While there is doubt over progress at the WTO on key issues, there is hope for advances on a new global agreement on tackling fisheries subsidies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">After striking an agreement in 2022, which banned subsidies contributing to illegal, undeclared and unregulated fishing, the WTO hopes to conclude a second deal, this time focusing on subsidies which fuel overcapacity and overfishing.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">"We are within sight of ratifying the fisheries subsidies agreement," Okonjo-Iweala said on Monday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">WTO trade ministers could also make advances on facilitating aid for developing countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">On Monday, the Comoros and East Timor were accepted as WTO members.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Their accession comes a day after more than 120 WTO member states said they finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Despite broad backing, some members may still oppose its integration into the WTO, including India, which typically objects to agreements that do not cover all countries. -- AFP/RSS</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20081', 'image' => '20240227105611_wtov2-01.jpg', 'article_date' => '2024-02-27 10:55:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20353', 'article_category_id' => '1', 'title' => 'Tourists Start Visiting Annapurna Circuit', 'sub_title' => '', 'summary' => 'February 27: With the onset of the spring season, tourists have started to arrive on the Annapurna Circuit, a renowned foot trail which looked deserted until some time ago.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">February 27: With the onset of the spring season, tourists have started to arrive on the Annapurna Circuit, a renowned foot trail which looked deserted until some time ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">This famous trail, which covers five districts of central Nepal, is once again bustling with tourists with the beginning of the trekking season.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Bhupendra Gurung, in-charge of the Annapurna Conservation Area Project (ACAP)’s tourist screening and information center in Dharapani, Manang, said that around 25 to 30 foreign tourists are visiting this trail on a daily basis. He added that this route has been deserted for about two months due to excessive cold.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Gurung said that until recently only around five tourists used to visit this place on an average day, but now the arrival of tourists is expected to increase gradually. He said that the tourism business has come back to life as tourists have started to show up in this foot trail, which was deserted due to the extreme cold during winter.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Even the people of Manang, who had gone outside the districts to escape the unforgiving cold, have slowly started returning back. Pancha Bahadur Gurung, a tourism entrepreneur of Marsyangdi Rural Municipality-4, said that they are busy now with the arrival of tourists.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">The locals have also started making income with the arrival of tourists. Gurung said that mostly Israeli citizens used to visit this place around this time of year, but there are no Israeli tourists this year due to the war between Israel and Hamas.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Gurung, the tourism entrepreneur, mentioned that the daily business is more than Rs 60,000 due to the increase in number of tourists. Tourists have already booked his hotel for almost a month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Other tourism entrepreneurs like him, including Mekh Bahadur Gurung, Khushiram Gurung, Devijung Gurung, Chet Bahadur Gurung, Bag Bahadur Gurung Purna Bahadur Gurung, Rajman Gurung and hundreds of other hoteliers around this foot trail have now started getting back work.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Hotel business in the Chautara area of Lamjung, the entrance to the Annapurna Circuit has also started to flourish. Five districts namely Lamjung, Manang, Kaski, Mustang and Myagdi are connected to this trail.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Foreign tourists come to see the scenery of the rustic mountains and hills, the culture and customs and natural beauty of Manang. The visitors have to climb the Thorang Pass from Manang and then descend to Pokhara via Mustang on the Annapurna Circuit. Tourists come here especially to see Thorangla Pass, Larke Pass, and Kalla Pass as well as Tilicho Lake which is arguably the highest lake in the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">This foot trail also offers breathtaking views of mountains like Gangapurna, Zulu Peak, Pisang Peak, Nilgiri and Tilicho Peak as well as the Annapurna II, III and IV. Starting from Lamjung’s Bensisahar, the journey of Annapurna Circuit takes the visitors through Dharapani, Manang, Thorangla Pass, Muktinath, Jomsom, Ghorepani and concludes in Pokhara.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">In the past, the journey of this foot trail used to take 18 days but has now been shortened due to the expansion of the road.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-27', 'modified' => '2024-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '20080', 'image' => '20240227095457_20220508080527_Annapurna circuit (3).jpg', 'article_date' => '2024-02-27 09:54:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20351', 'article_category_id' => '1', 'title' => 'Nepal Imports Lipsticks Worth More Than Rs 400 Million in Current FY', 'sub_title' => '', 'summary' => 'February 26: Nepal spent more than Rs 410 million for importing lipsticks from different countries in the first seven months of the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">February 26: Nepal spent more than Rs 410 million for importing lipsticks from different countries in the first seven months of the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of the Department of Customs, lipsticks worth Rs 411.7 million were imported into Nepal from mid-July 2023 to mid-January 2024. The statistics of the department showed that a total of 122,454 kilograms of lipsticks were imported into the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">During the corresponding period of last fiscal year, Nepal had imported 147,087 kilograms of lipsticks worth Rs 234.43 million. Compared to the first seven months of last fiscal year, the import of lipsticks has decreased by 16 percent in terms of quantity, while the price has increased by 75 percent in the current FY.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of the last seven months, China tops the list of countries from where Nepal imports lipsticks. During the review period, 68,113 kilograms of lipsticks worth Rs 194.8 million entered Nepal from China.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">India ranks second in the list of countries from which Nepal imports lipsticks. In the last seven months, Nepal imported 51,745 kg of lipsticks worth Rs 168.154 million from India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">Along with China and India, Nepal also imports lipsticks from Turkey, Italy, Germany, the United States of America, Thailand, Taiwan, South Korea, Canada, the Philippines, Hong Kong, Malaysia, Saudi Arabia, Poland, Japan, the Netherlands, the United Kingdom, Mexico, Australia, Denmark, Luxembourg, Pakistan, the United Arab Emirates, Israel, Uzbekistan, France, Greece and other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Nirmala UI","sans-serif"">During the review period of the current fiscal year, Nepal imported 23,300 kg of lipsticks worth Rs 3.2 million from America.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20078', 'image' => '20240226092801_Untitled.jpg', 'article_date' => '2024-02-26 21:27:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20350', 'article_category_id' => '1', 'title' => 'CAN Announces Rs 100,000 Monthly Remuneration for Grade 'A' Male Players ', 'sub_title' => '', 'summary' => 'February 26: Cricket Association of Nepal (CAN) has decided to provide monthly remuneration of Rs 100,000 to each of the male cricketers listed in Grade 'A'. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Cricket Association of Nepal (CAN) has decided to provide monthly remuneration of Rs 100,000 to each of the male cricketers listed in Grade 'A'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A board meeting of CAN Board held from February 24 to 26 took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">National cricket team captain Rohit Kumar Paudel, Sompal Kami, Dipendra Singh Airee, Asif Sheikh and Kushal Bhurtel are listed as 'A' grade cricketers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, CAN has announced a monthly remuneration of Rs 70,000 per month for each of the five players of Grade 'B' including Kushal Malla, Gulshan Jha, Bhim Sarki, Lalit Narayan Rajbanshi and Abhinash Bohora. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the board meeting, Binod Bhandari, Arjun Saud, Sundeep Jora and Pratish GC, who belong to 'C' grade, will get a monthly remuneration of Rs 55,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Grade 'D' players, including Pawan Sarraf, Sagar Dhakal, Anil Shah, Bibek Kumar Yadav, Akash Chand, Basir Ahamad and Surya Tamang will be given Rs 35,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAN also announced monthly remuneration of Rs 25,000 each to those players who fall under the category of emerging players which includes Dipesh Kandel, Rupesh Singh, Rijan Dhakal, Bipin Khatri, Dev Khanal, Arjun Gharti and Hemant Dhami. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The monthly remuneration for women cricketers of Grade 'A' has been fixed at Rs 50,000 per month each. The list of 'A' grade women cricketers includes Indu Berma, Rubina Chhetri and Sita Rana Magar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'B' grade women cricketers who will get Rs 35,000 per month is Kabita Kunwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Puja Mahato and Ashmina Karmacharya, who fall under the category of Grade 'C', will get Rs 30,000 per month while Apsari Begam, Kabita KC, Sangita Rai, Kajol Shrestha and Bindu Rawal representing Grade 'D' are eligible to get Rs 25,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the group of emerging women players comprising Soni Pakhrin, Khusi Dangol, Jyotsnika Marasini, Kanchan Shrestha, Shristi Jaisi, Samjhana Khadka and Sana Prabin will to get Rs 20,000 each per month. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20077', 'image' => '20240226090307_GGinoAWXUAEsCn0.jpg', 'article_date' => '2024-02-26 21:02:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20349', 'article_category_id' => '1', 'title' => 'Noted Singer, Musician Bhakta Raj Acharya No More', 'sub_title' => '', 'summary' => 'February 26: Noted singer and musician Bhakta Raj Acharya passed away at the age of 82 on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Noted singer and musician Bhakta Raj Acharya passed away at the age of 82 on Monday. Decorated with the title 'Bhajan Shiromani', Acharya breathed his last while being taken to hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Musician Chetan Sapkota informed RSS that Acharya was being taken to Medicity Hospital after a sudden decrease in oxygen level in his body. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He had sung nearly 400 songs including- 'Mutu jali rahechha,' 'Jati chot dinchhau', 'Jaha chhan Buddhaka ankha', 'Hajar ankha herne', 'Maya meri sanjha bihan'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Acharya's body would be kept on the premises of the Academy of Music and Drama at 9:00 am for tribute on Tuesday, according to musician Sapkota. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Late Acharya's two sons Satya Raj and Swarup Raj are also active in the field of music. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20076', 'image' => '20240226084937_k.jpg', 'article_date' => '2024-02-26 20:48:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20348', 'article_category_id' => '1', 'title' => 'Majority of WTO Members Sign Investment Deal for Development ', 'sub_title' => '', 'summary' => 'February 26: More than 120 WTO member states have finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles, the global trade body said Sunday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 26: More than 120 WTO member states have finalised an agreement that aims to facilitate investment in developing countries by improving transparency and clearing bureaucratic hurdles, the global trade body said Sunday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Investment Facilitation for Development (IFD) Agreement, signed by 75 percent of the World Trade Organization's members, would require full consensus before it could be formally incorporated, as per the body's rules. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Despite broad backing, some members may still oppose its integration into the WTO, including India, which typically objects to agreements that do not cover all countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The deal was made public on the WTO's website hours before the trade body kicked off its 13th ministerial conference in Abu Dhabi. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim of fostering sustainable development, according to the text. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">To achieve this, participating countries have agreed "to improve the transparency of measures, streamline administrative procedures, adopt other investment facilitation measures and promote international cooperation." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> WTO chief Ngozi Okonjo-Iweala called it a "pioneering agreement that promises to help its signatories attract the foreign direct investment they want to drive growth." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Valdis Dombrovskis, the European Union's trade chief, said "it constitutes an opportunity for developing and least-developed countries to boost their capacity to attract more investment." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The signatories have issued a submission asking for it to be incorporated into the WTO during the Abu Dhabi meeting, which is scheduled to last until February 29. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Its incorporation would allow other member states to join on a voluntary basis."We call on all WTO Members to support its incorporation into the WTO system at MC13," said China's Commerce Minister Wang Wentao. – AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20075', 'image' => '20240226060754_wto.jpg', 'article_date' => '2024-02-26 18:07:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20347', 'article_category_id' => '1', 'title' => 'Banks Transfer Almost Rs 100 Billion to NRB under Standing Deposit Facility', 'sub_title' => '', 'summary' => 'February 26: Banks and financial institutions have deposited nearly Rs 100 billion in Nepal Rastra Bank in a single day. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: Banks and financial institutions have deposited nearly Rs 100 billion in Nepal Rastra Bank in a single day. Due to the excess liquidity in the banking system, the banks deposited the amount in the central bank on Sunday under the standing deposit facility, an overnight facility that enables banks to transfer excess liquidity to earn higher rate of interest.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In order to effectively implement the interest rate corridor, the central bank started the standing deposit facility from mid-February to allow the banks and financial institutions to deposit their excess liquidity with the central bank. Under this facility, bank deposits worth Rs 96.15 billion were transferred to the Nepal Rastra Bank on Sunday alone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">This is the highest amount deposited in the central bank after the introduction of this facility. So far, banks have already used this facility four times depositing Rs 253.65 billion with the central bank. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">An official of the central bank said that large amount of liquidity is being stocked at the NRB due to excess liquidity in the banking system.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Large amounts of deposits have started to flow to the central bank under the standing deposit facility," said the official, adding, "It seems that banks do not want to take the risk of credit disbursement."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the regulations and procedures related to the open market transactions, there is a provision to provide standing deposit facility to banks for two days a week on every Sunday and Wednesday. Banks are entitled to receive 3 percent for the deposits under this facility with a maturity period of four days.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the current fiscal year (FY), banks and financial institutions have excess liquidity as the deposit collection is higher than credit flow. In order to manage excess liquidity in the financial system, the central bank started issuing deposit collection tools from mid-November of the current fiscal year and raised Rs 550 billion by mid-February. However, as the central bank could not maintain short-term interest rate according to the interest rate corridor, it started the standing deposit facility from mid-February as per the announcement made in the monetary policy. After the launch of the facility, the short-term interest rate has remained within the lower limit of the corridor.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the 'Interest Rate Corridor Procedure - 2076', there is an arrangement to set the upper limit bank rate and the lower limit of deposit collection rate and keep the interbank interest rate in between. For this, there is a provision for the central bank to use various monetary instruments for liquidity flow and mopping excess liquidity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Nepal Rastra Bank, as of last Thursday, banks have collected deposits of Rs 6167 billion and provided loans of Rs 5086 billion. In the fiscal current year, bank deposits have increased by Rs 396 billion, while credit flow increased by Rs 208 billion only. The average credit-deposit ratio (CD ratio) of banks is 80.04 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, they still have the capacity to provide loans of more than Rs 600 billion.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20074', 'image' => '20240226034018_Banks.jpg', 'article_date' => '2024-02-26 15:39:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20346', 'article_category_id' => '1', 'title' => 'DoI Issues Online Route Permits for Tourists Visiting Restricted Areas', 'sub_title' => '', 'summary' => 'February 26: The Department of Immigration (DoI) has started issuing route permits for domestic and foreign tourists to visit restricted areas through electronic system (online), the state-owned RSS reported.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The Department of Immigration (DoI) has started issuing route permits for domestic and foreign tourists to visit restricted areas through electronic system (online), the state-owned RSS reported.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the RSS, the DoI made the online arrangements to issue route permits to facilitate the tourists visiting the restricted areas under the initiative of the Trekking Agencies Association of Nepal (TAAN).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Until now, the department used to issu permits to tourists visiting the restricted areas only through the time-consuming paper works. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">TAAN General Secretary Binod Sapkota said that the route permits can be obtained online since last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, online route permits have been issued to three Chinese citizens through Magical Nepal Pvt Ltd. Among the Chinese nationals whose route permits were issued online are Bing Si, Chichi Ping, and Winhua Luo. This development is expected to ease the journey for tourists visiting upper Mustang, upper Dolpo, Chum and Nubri valleys in the Manaslu region of Gorkha, as well as Simikot, Changkheli, Namkha in Humla, and Kanchenjunga in Taplejung.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">TAAN President Nilhari Bastola told RSS that the online route permits for the restricted areas will make the trek easier for both tourists and entrepreneurs. "The easier we make it for the tourists, the more tourists will visit Nepal. I believe this online service will be beneficial for the tourism industry," RSS quoted Bastola as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Acting director general of DoI, Krishna Bahadur Katuwal said that the long time-consuming process of obtaining route permits has come to an end with the launch of the online permit system.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to him, tourists can now easily get permits from their company and personal accounts through 'QR payment'. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20073', 'image' => '20240226030828_upper-mustang-trek.jpg', 'article_date' => '2024-02-26 15:07:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20345', 'article_category_id' => '1', 'title' => 'Rafting Business in Crisis due to Hydropower Project ', 'sub_title' => '', 'summary' => 'February 26: Stakeholders have expressed concern over the proposed Super Trishuli Hydropower Project, which poses existential crisis to the rafting business. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 26: Stakeholders have expressed concern over the proposed Super Trishuli Hydropower Project, which poses existential crisis to the rafting business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As preliminary work for the construction of 100 MW Super Trishuli Hydropower Project to be built between Battar of Gorkha and Chumkhola of Chitwan has started, people's representatives, rafting entrepreneurs and river conservation activists took part in a public hearing held at Fisling of Ichchakamana Rural Municipality on Sunday to discuss the matter of public importance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, provincial assembly member Krishna Silwal said that the environment and existence of rivers should not be put into danger in the name of development. He pledged to do his best to stop it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, President of Nepal Rafting Association, Shiva Adhikari, said that the proposed hydroelectric project will put 84 companies related to the riverside rafting and boating business in a crisis. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Billions of investments in hotel business, rafting and other companies are in a crisis with the livelihood of 3,500 guides and 10,000 workers at stake," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of Nepal River Conservation Trust Megh Aley said that the wealth of the nation which attracts many tourists should not be jeopardized. Development by drying up the river is unfortunate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepal Association of Rafting Agencies (NARA) had earlier protested saying that the entire investment of the rafting industry is going to waste with the construction of hydroelectric projects. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trishuli is one of the major rivers for rafting among the 16 different rivers that the government has permitted for rafting. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20072', 'image' => '20240226021630_adventure-activities-nepal-rafting-river.jpg', 'article_date' => '2024-02-26 14:08:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20344', 'article_category_id' => '1', 'title' => 'Process of Appointing SEBON Chair to Pick Up Pace from this Week', 'sub_title' => '', 'summary' => 'February 26: The recommendation committee for the post of the chairman of the Securities Board of Nepal (SEBON), which is vacant since January 5, will start its work to recommend names for the post from this week.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The recommendation committee for the post of the chairman of the Securities Board of Nepal (SEBON), which is vacant since January 5, will start its work to recommend names for the post from this week. A meeting of the Council of Ministers had formed the three-member recommendation committee for the appointment of the board’s chairman on January 17 under the coordination of Min Bahadur Shrestha, vice chairman of the National Planning Commission.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Among the members of the committee are the Secretary of the Ministry of Finance Krishnahari Pushkar and Professor Uday Niraula.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The committee has already prepared the necessary procedure for the appointment of the board’s chairman and informed that the appointment process will be started from this week according to the same procedure. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Admitting that the recommendation process was delayed due to the busy schedule of the coordinator of the recommendation committee and the finance secretary, the committee said that the process will proceed without any more delay. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Securities Act 2063 has a provision to form a committee consisting of the finance secretary and an expert related to the securities sector under the coordination of the member of the National Planning Commission to recommend the chairman to the board. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recommendation committee will recommend the names of three qualified candidates from among the applicants. One of the three people recommended by the committee will be appointed as the chairman of the board for the next four-year term by the cabinet meeting. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As per the Securities Act, the candidate for the post of SEBON chair must have at least a master's degree, at least seven years of work experience in securities market management or capital market development or any of the fields related to economy, finance, commerce, management or law.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Eligible candidates can apply for the post according to the same provision.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders argue that the regulatory body of the securities market, which has assets of more than Rs 3100 billion, should not be without a leadership for a long time. As the board is without a leader, the approval process of public issuance of securities has been stalled recently.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">No company has received permission for public issuance of shares in the securities market since January 4. Ramesh Kumar Hamal had allowed Reliance Spinning Mills Limited to issue shares through the book building method on January 4 a day before his term ended.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the first phase, the company has been allowed to issue and sell 770,640 units of shares to eligible institutional investors at a minimum price of Rs 608 to a maximum of Rs 912 per share. At present, 34 companies have applied with the board for the issuance of ordinary shares.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, five more companies are in line for further public offering (FPO). There are 9 companies in line for issuing rights shares. One company has applied for the issuance of bonds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Stakeholders have demand the process of appointment of the chairman of SEBON must be completed as soon as possible as billions of rupees are traded daily in the secondary market.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20071', 'image' => '20240226011210_Sebon-update.jpg', 'article_date' => '2024-02-26 13:11:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20343', 'article_category_id' => '1', 'title' => 'Era of Insecurity is Resetting Global Defence-Industrial Landscape', 'sub_title' => 'Global Conflicts Herald 'Dangerous Decade': Military Think-Tank', 'summary' => 'February 26: The Israel-Hamas war, ongoing fighting in Ukraine and rising tensions in the Indo-Pacific and Africa herald "what is likely to be a more dangerous decade," a British military think-tank recently warned.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 26: The Israel-Hamas war, ongoing fighting in Ukraine and rising tensions in the Indo-Pacific and Africa herald "what is likely to be a more dangerous decade," a British military think-tank recently warned.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the AFP, the International Institute for Strategic Studies (IISS) said in its annual "Military Balance" report that the world has entered "a highly volatile security environment", which is set to endure.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The current military-security situation heralds what is likely to be a more dangerous decade, characterised by the brazen application by some of military power to pursue claims," the report said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It also noted "the desire among like-minded democracies for stronger bilateral and multilateral defence ties in response".</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The "era of insecurity" is resetting the global defence-industrial landscape, with the US and Europe ramping up production of missiles and ammunition "after decades of underinvestment," the report added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As the two-year anniversary of Russia's invasion of Ukraine looms, the London-based IISS reported that Moscow had lost around 3,000 battle tanks in the conflict, roughly the same number it had at the beginning of its operation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IISS said that Russia had been forced to trade "quality for quantity" in its efforts to replace tanks lost since it invaded its neighbour to the west in February 2022.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Ukraine, so far, has been able to offset equipment losses through Western donations, upgrading quality in the process," added the think-tank in its yearly assessment of the militaries and defence economics of over 170 countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NATO 'reinvigorated' </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Driven in part by NATO member states response to Russia's invasion, global military spending grew by 9 percent in 2022 to reach a record $2.2 trillion, it noted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report comes days after White House hopeful Donald Trump said he had previously told an unspecified NATO member's leader that he would "encourage" Russia to "to do whatever the hell they want" in that country if it had not met its NATO financial obligations.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"You got to pay. You got to pay your bills," Trump recounted at a campaign rally in South Carolina Saturday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Only 10 members of the Western-led security alliance met the group's target of spending two percent of GDP on defence, although 19 of them increased spending last year, according to IISS figures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Russia's actions have reinvigorated NATO, with Finland completing its rapid alliance accession process in April 2023," the report noted.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Russia's border with NATO members is now more than 1,300 kilometres longer."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Elsewhere, the annual report said that Iran's supply of missiles to Huthi rebels in Yemen and drones to Russia highlighted Tehran's growing influence in conflict zones.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China had also demonstrated "increased power-projection capacity", it added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"The IISS Military Balance study is published at an important time when the rules-based order is being increasingly questioned," AFP quoted Bastian Giegerich, the chief executive of IISS, as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"While Western defence spending is rising and plans to revamp equipment are ongoing, we reflect on the challenges including those set by Russia's ongoing invasion of Ukraine, China's military modernisation and events in the Middle East," he added. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20070', 'image' => '20240226115229_Ukraine-War-Russian-Tank-Destroyed-768x432.jpg', 'article_date' => '2024-02-26 11:51:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20342', 'article_category_id' => '1', 'title' => 'Five Proposals Selected for Final of Hult Prize', 'sub_title' => '', 'summary' => 'February 26: The organisers of the Hult Prize have selected five proposals for the final round of the event from among 13 participating teams who pitched their innovative business ideas during the semifinals held at the Kathmandu University.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">February 26: The organisers of the Hult Prize have selected five proposals for the final round of the event from among 13 participating teams who pitched their innovative business ideas during the semifinals held at the Kathmandu University. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The Hult Prize is being sponsored by Canadian Study Center and Agni Mahindra Group.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The proposals were selected on the basis of competence after evaluation by experts from various fields. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The proposals selected for the finals include Dr. Fish, Ladies with a Lamp, Hempire, The Upcyclers and Kodoko Khaja. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The final is scheduled to be held on Tuesday (February 27) at Kathmandu University, Dhulikhel.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Eighteen different organizations have helped sponsor the program and also provide necessary training to the participants.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-26', 'modified' => '2024-02-26', 'keywords' => '', 'description' => '', 'sortorder' => '20069', 'image' => '20240226112030_20240111013141_1704935057.2UlBO0Jn_400x400.jpg', 'article_date' => '2024-02-26 11:19:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20341', 'article_category_id' => '1', 'title' => 'Department of Revenue Investigation Monitors Dry Port for Misuse of Green Lane', 'sub_title' => '', 'summary' => 'February 25: The Department Revenue Investigation has started monitoring the case of misuse of the green lane of Birganj Dry Port in which prohibited goods were imported in the guise of other goods mentioned in the declaration form.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 25: The Department Revenue Investigation has started monitoring the case of misuse of the green lane of Birganj Dry Port in which prohibited goods were imported in the guise of other goods mentioned in the declaration form.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs is currently investigating this case suspecting collusion between the then high-ranking officials of the Department of Customs and the Dry Port Customs Office. According to the officials of the Department of Customs, the collusion took place in the interest and under the protection of the then ruling party.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Director General of the Department of Revenue Investigation Nawa Raj Dhungana said that although the responsibility of preliminary investigation and action lies with the department, the Department Revenue Investigation has been constantly monitoring the issue. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The Department of Customs will take action according to the law. If not, we will investigate. Currently, we are collecting the necessary information required for the investigation," Dhungana, Director General of Department of Revenue Investigation, told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Dry Port Customs Office initiated investigation after finding betel nuts in containers labeled as chicken feed and scooters labeled as hardware.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">An officer of the Department of Customs said that after opening 400 containers stored at the port for four years, more than 100 containers were found to have goods other than that mentioned in the labels.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The incident came to light after the government banned the imports of peas, betel nuts, pepper, dry dates and liquor in 2076 saying that there was pressure in the foreign exchange reserves.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-25', 'modified' => '2024-02-25', 'keywords' => '', 'description' => '', 'sortorder' => '20068', 'image' => '20240225040940_20220102031417_20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2024-02-25 16:09:02', '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
