February 14: Nepal Rastra Bank, which failed to implement the interest rate corridor since the beginning of the current fiscal year, announced the 'Standing Deposit Facility' tool on Tuesday.…
February 14: Nepal Rastra Bank, which failed to implement the interest rate corridor since the beginning of the current fiscal year, announced the 'Standing Deposit Facility' tool on Tuesday.…
February 14: Six companies of the hotel and tourism group are listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities.…
February 14: Nepal Police has arrested 89 people for their alleged involvement in human trafficking in the first six months of the current fiscal…
February 14: The permits of nine hydropower projects with a capacity of 461 megawatts are on the verge of being revoked due to their failure to get consent for survey from national parks and various protected…
February 14: Meteorological Forecasting Division has predicted light rainfall at one or two places of Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces…
Basanta Panchami is being celebrated all over the country by paying homage to Goddess Saraswati, known as the goddess of knowledge. Also known as Saraswati Pooja, writers, artists, journalists, teachers and students worship their tools, pen, paper, pencil and musical instruments as goddess…
February 13: The United Nations has recognized the Terai Arc Landscape (TAL) as one of the seven UN World Restoration Flagships to honour the best examples of large-scale and long term ecosystem restoration in any country or…
The Nepal Stock Exchange (NEPSE) witnessed a decline of 30.56 points or 1.45%, closing at 2070.59 on the third trading day of the week on…
February 13: The government is on the verge of finalizing a bilateral labour agreement with Saudi Arabia within a…
February 13: A delegation from the International Monetary Fund (IMF) has found investment-friendly environment in the energy infrastructure sector of Nepal despite various challenges in the country's…
February 13: Nepal Rastra Bank has made public the details of the mid-term review of the monetary policy of the current financial year.…
February 13: The Supreme Court has declined to issue an interim order to halt the appointment process of the chairman of the Nepal Telecommunications Authority (NTA), thereby allowing the government to proceed with the selection…
February 13: The latest Nepal Living Standards Survey has revealed that 20.27 percent of the population in Nepal is living below the poverty…
February 13: The government downsized the budget on Monday, giving continuity to the trend of initially presenting a sizable budget followed by adjustments through the mid-term…
February 13: The Nepal Living Standards Survey has shown that yearly spatially and temporally adjusted per capita consumption expenditures have surged by 66 percent, rising from Rs 75,902 to Rs 126,172 in real terms between 2011 and…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 14: Nepal Rastra Bank, which failed to implement the interest rate corridor since the beginning of the current fiscal year, announced the 'Standing Deposit Facility' tool on Tuesday. The officials of the central bank claim that the short-term interest rate can be kept within the limits of the corridor by allowing banks and financial institutions to deposit whatever amount they have in the form of excess liquidity in the central bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Under the Standing Deposit Facility, the banks can deposit whatever amount of excess liquidity they have in the central bank," said the executive director of Nepal Rashtra Bank. Prakash Kumar Shrestha, adding, “This facility helps manage liquidity and maintain the interest rate within the limits of the corridor.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank had announced in the monetary policy of the current fiscal year that it will provide the Standing Deposit Facility if the weighted average of interbank interest rate falls below the deposit collection rate under the interest rate corridor. In order to implement the announcement, the central bank has amended the regulations and procedures related to open market transactions and made arrangements to provide Standing Liquidity Facility from mid-February.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, the fixed the deposit collection rate of the central bank is 3 percent. Banks will be allowed to deposit excess liquidity with the Nepal Rashtra Bank at an interest rate of 3 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former banker Parshuram Kunwar Chhetri says that Standing Deposit Facility will help implement the interest rate corridor. "It is an attractive investment for banks to keep deposits in the central bank at 3 percent interest rate," he said, "This makes it easier to manage liquidity and implement the interest rate corridor." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The interbank interest rate has started falling below the target limit since mid-September of the current fiscal year. Even when the interbank interest rate fell below the limit, the central bank did not issue any monetary instrument to increase it till mid-November. After mid-November, deposit collection instruments were released in a hurry, but the interest rate was being kept within the limits of the corridor.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In order to implement the interest rate corridor effectively, the NRB has also implemented the 'Interest Rate Corridor Procedure 2076'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the procedure, the upper limit of the bank rate and the lower limit of the deposit collection rate should be set and the interbank interest rate should be kept in between. For this purpose, Nepal Rastra Bank has a provision to use various monetary instruments for liquidity flow and mopping of excess of liquidity. In the current fiscal year, the central bank has collected more than Rs 550 billion through deposit collection tools.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19981', 'image' => '20240214030623_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-14 15:05:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20253', 'article_category_id' => '1', 'title' => 'Net Profit of Listed Hotels Up due to Increase in Arrival of Tourists', 'sub_title' => '', 'summary' => 'February 14: Six companies of the hotel and tourism group are listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 14: Six companies of the hotel and tourism group are listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities. Among them, the net profit of five companies up to the second quarter of the current fiscal year has increased compared to the same period of the previous year. The net profits of Soaltee Hotel, Taragaon Regency Hotels, Chandragiri Hills Limited, Oriental Hotels Limited and Kalinchok Darshan have increased in the review period.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">City Hotel faced a loss of Rs 117.9 million in the second quarter of the current fiscal year. Even in the second quarter of last fiscal year, City Hotel had registered a loss of Rs 132.4 million. Compared to the previous year, the loss of City Hotel is less this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The profits of the hotel and tourism groups have increased due to the increase in arrival of tourists after the coronavirus pandemic subsided.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the data of Nepal Tourism Board, 1,014,876 foreign tourists entered Nepal via the air route in 2023. This figure is 400, 000 more than in 2022. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Soaltee Hotel earned the highest profit of Rs 263.11 million among the companies under the hotel and tourism group listed in NEPSE.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This profit is 4.64 percent higher than the profit in the second quarter of last year. Soaltee Hotel earned more than Rs 1.5 billion in the second quarter of the current fiscal year. Last year, the income of this hotel was Rs 960.1 million. Recently, the income has increased due to the increase in the arrival of foreign tourists, reads the financial statement released by the hotel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The profit of Taragaon Regency Hotels has increased by 71 percent compared to the second quarter of last year, the highest among all in the group. Taragaon Regency, which made a profit of Rs 100.61 million in the second quarter last year, has made a profit of Rs 181.6 million during the same period of this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the profit of Oriental Hotels increased by 46.24 percent in the second quarter of the current fiscal year compared to the second quarter of last fiscal year. Oriental made a profit of Rs 36.5 million in the second quarter of last year, but this year it increased to Rs 53.4 million. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the profit of Chandragiri Hills Limited till the second quarter has reached Rs 62.8 million. This is 22 percent more than the same period last year. Last year, the company's profit up to the second quarter was Rs 51.4 million.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Kalinchok Darshan Limited which made a profit of 6.47 million in the second quarter of last year, made a profit of Rs 6.43 million in the second quarter of the current fiscal year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-16', 'keywords' => '', 'description' => '', 'sortorder' => '19980', 'image' => '20240214022543_Hotel.jpg', 'article_date' => '2024-02-14 14:24:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20252', 'article_category_id' => '1', 'title' => 'Eighty-Nine People held on Charge of Human Trafficking in Six Months ', 'sub_title' => '', 'summary' => 'February 14: Nepal Police has arrested 89 people for their alleged involvement in human trafficking in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 14: Nepal Police has arrested 89 people for their alleged involvement in human trafficking in the first six months of the current fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, they have apprehended 67 men and 22 women from July 17, 2023 to January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Babarmahal-based Anti Human Trafficking Investigation Bureau has been working as a specialized unit of the Nepal Police for the prevention and control of crimes related to human trafficking. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bureau said 236 persons have been rescued from being trafficked in the review period. Among those rescued, 150 are women, 26 are men and 60 are girls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is one of the most affected countries from both internal and cross-border human trafficking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Inspector General Bhim Prasad Dhakal, spokesperson for Nepal Police, said a large number of Nepalis fall victim to human trafficking due to the allurement of employment or illegal settlement in various countries, including in India, Malaysia, Qatar, Saudi Arabia, Libya, Bahrain, Kuwait, the United Arab Emirates, America and different European and African nations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Nepal Police has provided character certificates to 550,060 individuals via online in the last seven months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said, 710,944 Nepalis and foreign nationals had submitted online applications seeking Police Report (character certificate) from Nepal Police during that period. Of these applications, 144,212 were canceled while 16,672 applications are being processed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Criminal Record System Section at the Police Headquarters carries out works related to police report. This section falls under the Department of Crime Investigation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department’s chief, Additional Inspector General Tek Bahadur Tamang, said the police report is provided within five days of receiving the application. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19979', 'image' => '20240214010011_human traficking.jpg', 'article_date' => '2024-02-14 12:59:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20251', 'article_category_id' => '1', 'title' => 'License of Nine Hydropower Projects Likely to be Revoked due to Obstruction from Protected Areas', 'sub_title' => '', 'summary' => 'February 14: The permits of nine hydropower projects with a capacity of 461 megawatts are on the verge of being revoked due to their failure to get consent for survey from national parks and various protected areas.', '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:"mukta","serif"">February 14: The permits of nine hydropower projects with a capacity of 461 megawatts are on the verge of being revoked due to their failure to get consent for survey from national parks and various protected areas. </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:"mukta","serif"">Those hydropower companies have already paid millions of rupees in royalties and have also received survey license from the Ministry of Energy. However, the national parks and conservation areas under the Ministry of Forests and Environment have not given their consent for the survey of the hydropower projects. As a result, their license is likely to be revoked.</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:"mukta","serif"">A team of promoters of the projects affected by the protected areas, under the leadership of Ganesh Karki, the president of the Independent Power Producers Association, Nepal (IPPAN), met Secretary of the Ministry of Forests and Environment Dr Deepak Kharal on Monday and urged him to take initiative to resolve the problems faced by these projects.</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:"mukta","serif"">The promoters said that their permits will expire after three months if the Ministry of Forests and Environment does not give its consent to conduct the survey. Therefore, they requested Forest Secretary Dr Kharal bail them out by giving permission immediately to carry out the survey of the projects.</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:"mukta","serif"">IPPAN President Karki also requested Secretary Kharal to recommend to the Ministry of Energy to extend the deadline of the permits of the affected projects by two years, as the deadline of the survey license is about to expire due to the non-cooperation from the national parks and protected areas.</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:"mukta","serif"">The promoters of hydropower projects argued that they have been paying millions of rupees as royalties to the government every year since the Ministry of Energy granted then survey license five years ago. Since the non-cooperation from the national parks is likely to waste their investment, the private sector energy promoters requested Dr Kharal to take a secretary-level decision to grant them permission for survey.</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:"mukta","serif"">Promoter Sitaram Timalsina said that it is not fair to threaten to arrest the promoters just because the park officials are not satisfied with certain provisions.</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:"mukta","serif"">"They have threaten us that they will come to our houses at night and arrest us. They insist that all three generations of our family must attend the meeting fixed by them," Timalsina told the forest secretary, adding, "We are building hydropower projects. We are engaged in a campaign to make the country prosperous. It's not like smuggling.”</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:"mukta","serif"">Bharat Parajuli, the promoter of the Lagang river (Brahmaani A) hydropower project, said that it is sad that the park officials treat tree smugglers and hydropower promoters in the same way. </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:"mukta","serif"">"We feel like we are insulted. They are threatening to imprison people who are engaged in the campaign to make the country prosperous," Parajuli said, "If there is a weakness, let's correct it. We build hydropower. That’s not a crime.”</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:"mukta","serif"">Businessmen complained that the national parks did not give them permission to expand the capacity of the projects. They argued that the park officials are not ready to give them permission to increase the capacity of hydropower projects from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif""> megawatts to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif""> megawatts without cutting more trees in the forest and without adding any new structures.</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:"mukta","serif""> They demanded revising the procedure for releasing water in the protected areas under the Procedure for Providing Land for Construction of Physical Infrastructure in Protected Areas </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif"">. They argued that the new provision of releasing water in cumec instead of cusec will affect many hydropower projects and therefore urged to reverse it to the previous provision.</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:"mukta","serif"">Secretary Dr. Kharal assured the delegation that he would do all he can to address their problems including recommendation for two-year term extension.</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:"mukta","serif"">The government has started the process of improving its policies through reforms in the legal system to create a conducive environment for investment in the country ahead of the Third Investment Summit scheduled for late April.</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:"mukta","serif"">However, the draft submitted by a task force for law reforms, mentions that hydropower projects need to plant ten times more trees if they require to cut trees in national forests and protected areas. There was no such provisions until now, say the promoters.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19978', 'image' => '20240214112413_hydro.jpg', 'article_date' => '2024-02-14 11:23:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20250', 'article_category_id' => '1', 'title' => 'Possibility of Light Rain and Snowfall Today ', 'sub_title' => '', 'summary' => 'February 14: Meteorological Forecasting Division has predicted light rainfall at one or two places of Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 14: Meteorological Forecasting Division has predicted light rainfall at one or two places of Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today, and light snowfall at a few places of the high-hill and mountainous region of the country.</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"">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, the weather across the country at present is partly to generally cloudy due to the partial influence of the Westerly Winds.</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"">The division said that the weather will remain partly to generally cloudy in Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today afternoon while it will remain partially to mainly fair in the Sudurpaschim province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the division in its daily bulletin said that there is possibility of light rain at one or two places of Koshi province tonight. Likewise, there are chances of light snowfall at a few places of the high-hill and mountainous region of Koshi, Bagmati and Gandaki provinces tonight. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19977', 'image' => '20240214101003_2024011511040359_DSC_2752.jpg', 'article_date' => '2024-02-14 10:09:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20249', 'article_category_id' => '1', 'title' => 'Basanta Panchami Being Observed Across the Country', 'sub_title' => '', 'summary' => 'Basanta Panchami is being celebrated all over the country by paying homage to Goddess Saraswati, known as the goddess of knowledge. Also known as Saraswati Pooja, writers, artists, journalists, teachers and students worship their tools, pen, paper, pencil and musical instruments as goddess Saraswati. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 14: Basanta Panchami is being celebrated all over the country by paying homage to Goddess Saraswati, known as the goddess of knowledge. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Also known as Saraswati Pooja, writers, artists, journalists, teachers and students worship their tools, pen, paper, pencil and musical instruments as goddess Saraswati. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">There is also a belief that you will blessed if you begin your learning after worshiping Saraswati. The day is also regarded as auspicious for social and religious functions like marriage, bratabanda, gufa and belbibaha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">It is considered auspicious to start education for children and to pierce their nose and ears. Devotees, especially students, throng the temples of Goddess Saraswati since early morning today. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, in a message of best wishes on the occasion, President Ram Chandra Paudel said that Saraswati Pooja is a festival that always energizes life and inspires new discoveries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">President Paudel expressed his confidence that this day would inspire learners for acquiring education and fulfillment of knowledge. He extended his best wishes to all Nepalis brothers, sisters and children at home and abroad on the occasion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Stating that Goddess Saraswati is extolled as the Goddess of education, knowledge and music, Paudel said that it is believed that if the children are enrolled in the school on auspicious day, Goddess Saraswati is always benevolent to the learners and students.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Head of the State in his message said, "Basanta Panchami has been considered the major day for the music connoisseurs to worship. Today is considered auspicious day for those willing to venture out on a new endeavor or to perform marriage ceremonies and other religious functions."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">He also extended his best wishes that may Goddess Saraswati's blessings be on all Nepalis and may this festival inspire to maintain unity amid social and cultural diversity of the country as well as to conserve unique religious and cultures. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Stating that today is also celebrated as Saraswati Janmostav, the birthday of Goddess Saraswati, the President said that today marks the beginning of the spring seasons and the sun's path gradually drifts to northwards, causing longer days and shorter nights henceforth indicating the affinity between nature and the lives of Nepalis people. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19976', 'image' => '20240214062305_collage (32).jpg', 'article_date' => '2024-02-14 06:21:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20248', 'article_category_id' => '1', 'title' => 'UN Recognizes Terai Arc Landscape as World Restoration Flagship ', 'sub_title' => '', 'summary' => 'February 13: The United Nations has recognized the Terai Arc Landscape (TAL) as one of the seven UN World Restoration Flagships to honour the best examples of large-scale and long term ecosystem restoration in any country or region.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 13: The United Nations has recognized the Terai Arc Landscape (TAL) as one of the seven UN World Restoration Flagships to honour the best examples of large-scale and long term ecosystem restoration in any country or region.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The UN made the announcement on Tuesday as part of the UN Decade on Ecosystem Restoration in Nairobi, Kenya. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Forests and Soil Conservation, the Department of National Wildlife and Conservation and the World Wildlife Fund (WWF) organized a joint press conference on Tuesday and shared this information. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"This exceptional conservation outcome has been possible under the leadership of the government, stewardship of the communities and engagement of the civil society. This collaborative effort has helped protect and restore forests, increase species population, enhance ecosystem services and trans-border corridor functionality. This has garnered international recognition, positioning the Terai Arc Landscape as a pioneer in implementing landscape-level conservation practices worldwide,” the WWF said in a press statement. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the United Nations Environment Programme, the Terai Arc Landscape initiative aims to protect a biodiversity hotspot shared by India and Nepal that was rapidly degrading.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Terai Arc Landscape stretches over 900 kilometres from the Bagmati river in the east to the Yamuna river of India in the west. In Nepal, the area extends from the Bagmati river in the east to the Mahakali river in the west covering six protected areas, four forest conservation areas, three wetland areas and several critical corridors. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On Nepal’s side alone, more than 7.5 million people and a plethora of wildlife – tigers, rhinos, elephants, black bucks, buffaloes, crocodiles, and birds – depend on the vast Terai Arc Landscape, stretching across 2.47 million hectares, added the UN.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the WWF, the Terai Arc Landscape envisions a globally unique landscape where biodiversity is conserved, ecological integrity is safeguarded, and the socio-economic well-being of the people is secured. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The program has also benefitted the local community through nature-based tourism, home stays, green enterprises, and many other initiatives through the engagement of local community members, community forest users, buffer zone communities, community-based anti-poaching units, citizen scientists and forest watchers. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nepal will be honoured for the achievement on February 27. Minister for Forests and Environment Birendra Prasad Mahato is scheduled to visit Nairobi representing the government. (With inputs from RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19975', 'image' => '20240213090726_20210729013117_20150914111210_chitwan.jpg', 'article_date' => '2024-02-13 21:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20247', 'article_category_id' => '1', 'title' => 'NEPSE Slumps by 30.56 Points, Closing at 2070.59', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed a decline of 30.56 points or 1.45%, closing at 2070.59 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 13: The Nepal Stock Exchange (NEPSE) witnessed a decline of 30.56 points or 1.45%, closing at 2070.59 on the third trading day of the week on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market experts and investors attributed today’s loss to the half-yearly review of monetary policy released by the Nepal Rastra Bank. "The market tumbled today due to the loss of confidence in the central bank among investors," said one investor. The central bank did not make any changes regarding the share market in its half-yearly review.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 305 scrips were traded on the NEPSE through 82,899 transactions. A total of 12,165,202 shares changed hands, resulting in a total turnover of Rs 4.66 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the turnover with transactions of shares worth Rs 32 crores. Bottlers Nepal Limited (BNL), Samaj Laghubitta Bittiya Sanstha (SAMAJ), and Super Mai Hydropower Limited (SMH) each saw a gain of 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> On the contrary, Gurans Laghubitta Bittiya Sanstha Limited (GLBSL) incurred the highest loss at 9.70%, closing at a market price of Rs 979 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the red territory. The Others Index lost 2.27%, while the Finance Index dropped by 2.20%. The HydroPower Index and Trading Index lost 0.58% and 0.52%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19974', 'image' => '20240213035423_collage (9).jpg', 'article_date' => '2024-02-13 15:52:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '20246', 'article_category_id' => '1', 'title' => 'Government Plans Labour Agreement with Saudi Arabia', 'sub_title' => '', 'summary' => 'February 13: The government is on the verge of finalizing a bilateral labour agreement with Saudi Arabia within a month.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 13: The government is on the verge of finalizing a bilateral labour agreement with Saudi Arabia within a month. This significant development comes following discussions between Minister for Labour, Employment, and Social Security, Sharat Singh Bhandari, and Saudi Arabia’s Minister for Human Resources and Social Development, Ahmad bin Sulaiman AlRajhi, during the Abu Dhabi Dialogue in the UAE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajiv Pokhrel, spokesperson for the Labour Ministry, revealed that Nepal proposed the labour agreement with Saudi officials during a sideline meeting, which was met with acceptance by the Saudi government. Pokhrel further elaborated that Saudi Arabia has pledged to conclude the labour agreement with Nepal after addressing certain considerations. Notably, Nepal has been diligently preparing for the labour agreement with Saudi Arabia for the past eight years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite the influx of unskilled Nepali workers to Saudi Arabia, concerns persist regarding the lack of guaranteed rights of Nepali workers. Although discussions regarding the labour agreement have taken place on numerous occasions between Nepal and Saudi authorities, reaching an agreement has been hindered by Saudi Arabia's insistence on formulating separate agreements for domestic workers alongside general workers.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19973', 'image' => '20240213031257_saudi.jpg', 'article_date' => '2024-02-13 15:12:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20244', 'article_category_id' => '1', 'title' => 'IMF Team Finds Investment-Friendly Environment in Nepal's Energy Sector ', 'sub_title' => '', 'summary' => 'February 13: A delegation from the International Monetary Fund (IMF) has found investment-friendly environment in the energy infrastructure sector of Nepal despite various challenges in the country's economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 13: A delegation from the International Monetary Fund (IMF) has found investment-friendly environment in the energy infrastructure sector of Nepal despite various challenges in the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IMF staff team, led by Tidiane Kinda, conducted a staff visit to Nepal from February 5-12 to discuss recent macroeconomic developments and the implementation of the Fund-supported programme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Nepal’s external position continues to strengthen on the back of buoyant remittances, increasing tourism activity, subdued imports, and decline in inflation. Weak domestic demand, large outward migration, and low credit growth despite monetary relaxation continue to weigh on near-term economic growth,” team leader Kinda said in a press note issued on conclusion of their visit on Monday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IMF team suggested that enhancing domestic revenue mobilization and accelerating the execution of capital expenditure will provide needed support to growth while securing fiscal sustainability. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Increased vigilance on banks’ asset quality and stepped-up supervisory efforts are important to preserve financial stability in view of growing non-performing loans, added the statement.</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 IMF delegation, the medium-term economic outlook of Nepal remains favorable, as strategic investments in infrastructure, especially in the energy sector, are expected to support potential growth. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The upcoming Investment Summit presents an opportunity to showcase Nepal’s economic potential, said the team, adding, “Timely reforms to durably improve the investment climate will help take full advantage of the summit and pave the way to stronger growth in the future.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The visiting delegation welcomed the government authorities’ ongoing efforts in meeting key commitments under the International Monetary Fund-supported programme, with the support of IMF’s technical assistance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Performance under the programme will be formally assessed in the context of the fourth review of the Extended Credit Facility, which is expected to take place in the middle of the year, states the press note. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Deputy Director of the IMF’s Asia and Pacific Department, Gulde-Wolf, attended key meetings. The IMF team held meetings with the Finance Minister Dr Prakash Sharan Mahat, Nepal Rastra Bank’s Governor Maha Prasad Adhikari, the National Planning Commission’s Vice-Chairman Dr Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19971', 'image' => '20240213022233_hydro.jpg', 'article_date' => '2024-02-13 14:21:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20241', 'article_category_id' => '1', 'title' => 'NRB Unveils Mid-Term Review of Monetary Policy', 'sub_title' => 'Interest for institutional fixed deposit should be less than individual fixed deposits by one percentage point ', 'summary' => 'February 13: Nepal Rastra Bank has made public the details of the mid-term review of the monetary policy of the current financial year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 13: Nepal Rastra Bank has made public the details of the mid-term review of the monetary policy of the current financial year. Based on the review, the central bank has made new arrangements for the implementation of the interest rate of fixed deposits and the interest rate 'corridor'. </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"">"To make the interest rate corridor effective, the fixed deposit facility will be implemented from mid-February,” states the mid-term review of the monetary policy, adding, "The interest rate of institutional fixed deposits will be arranged in such a way that it can be fixed by making it one percentage point lower than the interest rate provided for individual fixed deposits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, loans up to Rs 20 million provided to agricultural, small, cottage and medium-scale enterprises will be allowed to be counted in the 'Regulatory Retail Portfolio'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the internal and external situations and scenario of the economy and the policy arrangements made during the first quarterly review, the rates under the interest rate corridor have been kept unchanged. Provisions related to mandatory cash reserve ratio and statutory liquidity ratio have been given continuity. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19968', 'image' => '20240213010750_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-13 13:06:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20240', 'article_category_id' => '1', 'title' => 'NTA Chairman Appointment Process to Proceed as SC Refuses Interim Order', 'sub_title' => '', 'summary' => 'February 13: The Supreme Court has declined to issue an interim order to halt the appointment process of the chairman of the Nepal Telecommunications Authority (NTA), thereby allowing the government to proceed with the selection process.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">February 13: The Supreme Court has declined to issue an interim order to halt the appointment process of the chairman of the Nepal Telecommunications Authority (NTA), thereby allowing the government to proceed with the selection process. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">SC justices Sushmalata Mathema and Nahakul Subedi rejected the petition demanding a stay order, thereby enabling the government to continue the appointment process for the NTA chairman.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">According to the Nepal Telecommunications Act of 2053, candidates for the post of chairman of the NTA must have held a first-class or higher position in the governmental or institutional hierarchy and possess expertise and experience in technical, administrative, market management, financial, or legal sectors related to telecommunications services.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">This eligibility criterion faced objections from advocates Anant Raj Luitel, Pratibha Upreti, and Bishal Thapa, who filed a writ petition in the Supreme Court, arguing that it discriminates against individuals from the private sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Despite these objections, the Supreme Court's decision on Monday has cleared the way for the government to proceed with the NTA chairman appointment process.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19967', 'image' => '20240213123922_Supreme Court.jpg', 'article_date' => '2024-02-13 12:38:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20239', 'article_category_id' => '1', 'title' => 'Over 20 Percent of the Population in Nepal Lives Below the Poverty Line', 'sub_title' => '', 'summary' => 'February 13: The latest Nepal Living Standards Survey has revealed that 20.27 percent of the population in Nepal is living below the poverty line.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 13: The latest Nepal Living Standards Survey has revealed that 20.27 percent of the population in Nepal is living below the poverty line. The incidence of poverty is more prevalent in rural areas (24.66 percent) compared to urban areas (18.34 percent). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Releasing the Nepal Living Standard Survey (NLSS) 2079-080 on Monday, the NSO said that the country's poverty rate could not decrease as expected due to the Gorkha Earthquake in 2015 and the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the official poverty line for the year 2022/23, an individual in Nepal is deemed poor if their annual per capita total consumption expenditure falls below Rs 72,908.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey indicates significant disparity in poverty incidence across the seven provinces and the 15 administrative domains. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Four out of the seven provinces exhibit poverty rates higher than the national average. Sudurpashchim province has the highest poverty rate at 34.16 percent, followed by Karnali (26.69 percent), Lumbini (24.35 percent), and Madhesh (22.53 percent). Conversely, Gandaki, Bagmati, and Koshi provinces have rates lower than the national average at 11.88 percent, 12.59 percent, and 17.19 percent, respectively.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19966', 'image' => '20240213115413_poverty.jpg', 'article_date' => '2024-02-13 11:53:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20238', 'article_category_id' => '1', 'title' => 'Government Trims Budget Size by 13 Percent', 'sub_title' => '', 'summary' => 'February 13: The government downsized the budget on Monday, giving continuity to the trend of initially presenting a sizable budget followed by adjustments through the mid-term review.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 13: The government downsized the budget on Monday, giving continuity to the trend of initially presenting a sizable budget followed by adjustments through the mid-term review.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Ministry of Finance has recalibrated the size of the current fiscal year's budget by approximately 13 percent through the mid-term review of the budget announced for FY 2023/24.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Earlier on May 29, Finance Minister Dr Prakash Sharan Mahat had unveiled a budget of Rs 1,751.31 billion. However, in the mid-term review, Finance Minister Mahat announced that the budget has been reduced to Rs 1,530.26 billion, marking a reduction of Rs 221 billion. The revised estimate accounts for 87.38 percent of the initially allocated budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, the government has downscaled the budget for recurrent expenditure from Rs 1,141.78 billion to Rs 1,007.45 billion. Similarly, the budget for capital expenditure has been revised to Rs 254.13 billion from Rs 302.07 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has also revised the revenue collection target to Rs 1309 billion from Rs 1422 billion. Finance Minister Mahat said that the government expects to receive foreign grants worth Rs 40.12 billion instead of the previously estimated grants of Rs 49.94 billion. The government has also reduced the projected foreign loans from Rs 212.75 billion to Rs 180.83 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Spending in national pride projects remain poor</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The mid-term review of budget has admitted the sluggish progress in the construction of large infrastructure projects, designated as national pride projects. Despite an allocation of Rs 65.64 billion for these endeavors, a mere Rs 15.55 billion has been utilized in the first half of the current fiscal year. This lackluster expenditure on national pride projects has contributed to an overall capital expenditure of only Rs 50.44 billion by mid-January 2024, representing a meager 16.70 percent of the total allocation.</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 latest data from the Financial Comptroller General Office (FCGO), only 39 percent of the total budget has been expended by the end of the first seven months of this fiscal year. Furthermore, out of this expenditure, the capital expenditure earmarked for development comprises only 21 percent of the annual target, indicating a substantial lag in spending in this critical area.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19965', 'image' => '20240213111920_budget.jpg', 'article_date' => '2024-02-13 11:18:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20237', 'article_category_id' => '1', 'title' => 'Annual Nominal Household Consumption Expenditure up by 66.23 Percent', 'sub_title' => '', 'summary' => 'February 13: The Nepal Living Standards Survey has shown that yearly spatially and temporally adjusted per capita consumption expenditures have surged by 66 percent, rising from Rs 75,902 to Rs 126,172 in real terms between 2011 and 2023.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">February 13: The Nepal Living Standards Survey has shown that yearly spatially and temporally adjusted per capita consumption expenditures have surged by 66 percent, rising from Rs 75,902 to Rs 126,172 in real terms between 2011 and 2023. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Over the same period, the proportion of non-food spending has escalated from an average of 38 percent to 47 percent. Moreover, the distribution of food expenditures has undergone a transformation since the previous NLSS, shifting away from cereals, which provide relatively inexpensive calories, towards more nutritious diets characterized by a greater allocation of spending on fruits, nuts, and meats, albeit these being more costly calorie sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">When it comes to nominal household consumption expenditure, Kathmandu Valley leads with an annual average of Rs 263,318. Following closely, urban areas of Gandaki Province records the second highest expenditure at Rs 176,542 per year, representing 67 percent of that in Kathmandu Valley. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Conversely, the lowest average annual nominal per capita expenditures are observed in rural areas of Madhesh and Sudurpaschim provinces at Rs 71,828 and Rs 72,861 per person per year, respectively.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19964', 'image' => '20240213105500_foodbasket.jpg', 'article_date' => '2024-02-13 10:51:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '20254', 'article_category_id' => '1', 'title' => 'NRB Announces Standing Deposit Facility to Implement Interest Rate Corridor', 'sub_title' => '', 'summary' => 'February 14: Nepal Rastra Bank, which failed to implement the interest rate corridor since the beginning of the current fiscal year, announced the 'Standing Deposit Facility' tool on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 14: Nepal Rastra Bank, which failed to implement the interest rate corridor since the beginning of the current fiscal year, announced the 'Standing Deposit Facility' tool on Tuesday. The officials of the central bank claim that the short-term interest rate can be kept within the limits of the corridor by allowing banks and financial institutions to deposit whatever amount they have in the form of excess liquidity in the central bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Under the Standing Deposit Facility, the banks can deposit whatever amount of excess liquidity they have in the central bank," said the executive director of Nepal Rashtra Bank. Prakash Kumar Shrestha, adding, “This facility helps manage liquidity and maintain the interest rate within the limits of the corridor.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank had announced in the monetary policy of the current fiscal year that it will provide the Standing Deposit Facility if the weighted average of interbank interest rate falls below the deposit collection rate under the interest rate corridor. In order to implement the announcement, the central bank has amended the regulations and procedures related to open market transactions and made arrangements to provide Standing Liquidity Facility from mid-February.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, the fixed the deposit collection rate of the central bank is 3 percent. Banks will be allowed to deposit excess liquidity with the Nepal Rashtra Bank at an interest rate of 3 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former banker Parshuram Kunwar Chhetri says that Standing Deposit Facility will help implement the interest rate corridor. "It is an attractive investment for banks to keep deposits in the central bank at 3 percent interest rate," he said, "This makes it easier to manage liquidity and implement the interest rate corridor." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The interbank interest rate has started falling below the target limit since mid-September of the current fiscal year. Even when the interbank interest rate fell below the limit, the central bank did not issue any monetary instrument to increase it till mid-November. After mid-November, deposit collection instruments were released in a hurry, but the interest rate was being kept within the limits of the corridor.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In order to implement the interest rate corridor effectively, the NRB has also implemented the 'Interest Rate Corridor Procedure 2076'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the procedure, the upper limit of the bank rate and the lower limit of the deposit collection rate should be set and the interbank interest rate should be kept in between. For this purpose, Nepal Rastra Bank has a provision to use various monetary instruments for liquidity flow and mopping of excess of liquidity. In the current fiscal year, the central bank has collected more than Rs 550 billion through deposit collection tools.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19981', 'image' => '20240214030623_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-14 15:05:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20253', 'article_category_id' => '1', 'title' => 'Net Profit of Listed Hotels Up due to Increase in Arrival of Tourists', 'sub_title' => '', 'summary' => 'February 14: Six companies of the hotel and tourism group are listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 14: Six companies of the hotel and tourism group are listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities. Among them, the net profit of five companies up to the second quarter of the current fiscal year has increased compared to the same period of the previous year. The net profits of Soaltee Hotel, Taragaon Regency Hotels, Chandragiri Hills Limited, Oriental Hotels Limited and Kalinchok Darshan have increased in the review period.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">City Hotel faced a loss of Rs 117.9 million in the second quarter of the current fiscal year. Even in the second quarter of last fiscal year, City Hotel had registered a loss of Rs 132.4 million. Compared to the previous year, the loss of City Hotel is less this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The profits of the hotel and tourism groups have increased due to the increase in arrival of tourists after the coronavirus pandemic subsided.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the data of Nepal Tourism Board, 1,014,876 foreign tourists entered Nepal via the air route in 2023. This figure is 400, 000 more than in 2022. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Soaltee Hotel earned the highest profit of Rs 263.11 million among the companies under the hotel and tourism group listed in NEPSE.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This profit is 4.64 percent higher than the profit in the second quarter of last year. Soaltee Hotel earned more than Rs 1.5 billion in the second quarter of the current fiscal year. Last year, the income of this hotel was Rs 960.1 million. Recently, the income has increased due to the increase in the arrival of foreign tourists, reads the financial statement released by the hotel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The profit of Taragaon Regency Hotels has increased by 71 percent compared to the second quarter of last year, the highest among all in the group. Taragaon Regency, which made a profit of Rs 100.61 million in the second quarter last year, has made a profit of Rs 181.6 million during the same period of this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the profit of Oriental Hotels increased by 46.24 percent in the second quarter of the current fiscal year compared to the second quarter of last fiscal year. Oriental made a profit of Rs 36.5 million in the second quarter of last year, but this year it increased to Rs 53.4 million. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the profit of Chandragiri Hills Limited till the second quarter has reached Rs 62.8 million. This is 22 percent more than the same period last year. Last year, the company's profit up to the second quarter was Rs 51.4 million.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Kalinchok Darshan Limited which made a profit of 6.47 million in the second quarter of last year, made a profit of Rs 6.43 million in the second quarter of the current fiscal year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-16', 'keywords' => '', 'description' => '', 'sortorder' => '19980', 'image' => '20240214022543_Hotel.jpg', 'article_date' => '2024-02-14 14:24:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20252', 'article_category_id' => '1', 'title' => 'Eighty-Nine People held on Charge of Human Trafficking in Six Months ', 'sub_title' => '', 'summary' => 'February 14: Nepal Police has arrested 89 people for their alleged involvement in human trafficking in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 14: Nepal Police has arrested 89 people for their alleged involvement in human trafficking in the first six months of the current fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, they have apprehended 67 men and 22 women from July 17, 2023 to January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Babarmahal-based Anti Human Trafficking Investigation Bureau has been working as a specialized unit of the Nepal Police for the prevention and control of crimes related to human trafficking. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bureau said 236 persons have been rescued from being trafficked in the review period. Among those rescued, 150 are women, 26 are men and 60 are girls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is one of the most affected countries from both internal and cross-border human trafficking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Inspector General Bhim Prasad Dhakal, spokesperson for Nepal Police, said a large number of Nepalis fall victim to human trafficking due to the allurement of employment or illegal settlement in various countries, including in India, Malaysia, Qatar, Saudi Arabia, Libya, Bahrain, Kuwait, the United Arab Emirates, America and different European and African nations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Nepal Police has provided character certificates to 550,060 individuals via online in the last seven months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said, 710,944 Nepalis and foreign nationals had submitted online applications seeking Police Report (character certificate) from Nepal Police during that period. Of these applications, 144,212 were canceled while 16,672 applications are being processed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Criminal Record System Section at the Police Headquarters carries out works related to police report. This section falls under the Department of Crime Investigation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department’s chief, Additional Inspector General Tek Bahadur Tamang, said the police report is provided within five days of receiving the application. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19979', 'image' => '20240214010011_human traficking.jpg', 'article_date' => '2024-02-14 12:59:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20251', 'article_category_id' => '1', 'title' => 'License of Nine Hydropower Projects Likely to be Revoked due to Obstruction from Protected Areas', 'sub_title' => '', 'summary' => 'February 14: The permits of nine hydropower projects with a capacity of 461 megawatts are on the verge of being revoked due to their failure to get consent for survey from national parks and various protected areas.', '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:"mukta","serif"">February 14: The permits of nine hydropower projects with a capacity of 461 megawatts are on the verge of being revoked due to their failure to get consent for survey from national parks and various protected areas. </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:"mukta","serif"">Those hydropower companies have already paid millions of rupees in royalties and have also received survey license from the Ministry of Energy. However, the national parks and conservation areas under the Ministry of Forests and Environment have not given their consent for the survey of the hydropower projects. As a result, their license is likely to be revoked.</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:"mukta","serif"">A team of promoters of the projects affected by the protected areas, under the leadership of Ganesh Karki, the president of the Independent Power Producers Association, Nepal (IPPAN), met Secretary of the Ministry of Forests and Environment Dr Deepak Kharal on Monday and urged him to take initiative to resolve the problems faced by these projects.</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:"mukta","serif"">The promoters said that their permits will expire after three months if the Ministry of Forests and Environment does not give its consent to conduct the survey. Therefore, they requested Forest Secretary Dr Kharal bail them out by giving permission immediately to carry out the survey of the projects.</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:"mukta","serif"">IPPAN President Karki also requested Secretary Kharal to recommend to the Ministry of Energy to extend the deadline of the permits of the affected projects by two years, as the deadline of the survey license is about to expire due to the non-cooperation from the national parks and protected areas.</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:"mukta","serif"">The promoters of hydropower projects argued that they have been paying millions of rupees as royalties to the government every year since the Ministry of Energy granted then survey license five years ago. Since the non-cooperation from the national parks is likely to waste their investment, the private sector energy promoters requested Dr Kharal to take a secretary-level decision to grant them permission for survey.</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:"mukta","serif"">Promoter Sitaram Timalsina said that it is not fair to threaten to arrest the promoters just because the park officials are not satisfied with certain provisions.</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:"mukta","serif"">"They have threaten us that they will come to our houses at night and arrest us. They insist that all three generations of our family must attend the meeting fixed by them," Timalsina told the forest secretary, adding, "We are building hydropower projects. We are engaged in a campaign to make the country prosperous. It's not like smuggling.”</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:"mukta","serif"">Bharat Parajuli, the promoter of the Lagang river (Brahmaani A) hydropower project, said that it is sad that the park officials treat tree smugglers and hydropower promoters in the same way. </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:"mukta","serif"">"We feel like we are insulted. They are threatening to imprison people who are engaged in the campaign to make the country prosperous," Parajuli said, "If there is a weakness, let's correct it. We build hydropower. That’s not a crime.”</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:"mukta","serif"">Businessmen complained that the national parks did not give them permission to expand the capacity of the projects. They argued that the park officials are not ready to give them permission to increase the capacity of hydropower projects from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif""> megawatts to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif""> megawatts without cutting more trees in the forest and without adding any new structures.</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:"mukta","serif""> They demanded revising the procedure for releasing water in the protected areas under the Procedure for Providing Land for Construction of Physical Infrastructure in Protected Areas </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif"">. They argued that the new provision of releasing water in cumec instead of cusec will affect many hydropower projects and therefore urged to reverse it to the previous provision.</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:"mukta","serif"">Secretary Dr. Kharal assured the delegation that he would do all he can to address their problems including recommendation for two-year term extension.</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:"mukta","serif"">The government has started the process of improving its policies through reforms in the legal system to create a conducive environment for investment in the country ahead of the Third Investment Summit scheduled for late April.</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:"mukta","serif"">However, the draft submitted by a task force for law reforms, mentions that hydropower projects need to plant ten times more trees if they require to cut trees in national forests and protected areas. There was no such provisions until now, say the promoters.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19978', 'image' => '20240214112413_hydro.jpg', 'article_date' => '2024-02-14 11:23:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20250', 'article_category_id' => '1', 'title' => 'Possibility of Light Rain and Snowfall Today ', 'sub_title' => '', 'summary' => 'February 14: Meteorological Forecasting Division has predicted light rainfall at one or two places of Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 14: Meteorological Forecasting Division has predicted light rainfall at one or two places of Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today, and light snowfall at a few places of the high-hill and mountainous region of the country.</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"">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, the weather across the country at present is partly to generally cloudy due to the partial influence of the Westerly Winds.</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"">The division said that the weather will remain partly to generally cloudy in Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today afternoon while it will remain partially to mainly fair in the Sudurpaschim province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the division in its daily bulletin said that there is possibility of light rain at one or two places of Koshi province tonight. Likewise, there are chances of light snowfall at a few places of the high-hill and mountainous region of Koshi, Bagmati and Gandaki provinces tonight. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19977', 'image' => '20240214101003_2024011511040359_DSC_2752.jpg', 'article_date' => '2024-02-14 10:09:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20249', 'article_category_id' => '1', 'title' => 'Basanta Panchami Being Observed Across the Country', 'sub_title' => '', 'summary' => 'Basanta Panchami is being celebrated all over the country by paying homage to Goddess Saraswati, known as the goddess of knowledge. Also known as Saraswati Pooja, writers, artists, journalists, teachers and students worship their tools, pen, paper, pencil and musical instruments as goddess Saraswati. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 14: Basanta Panchami is being celebrated all over the country by paying homage to Goddess Saraswati, known as the goddess of knowledge. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Also known as Saraswati Pooja, writers, artists, journalists, teachers and students worship their tools, pen, paper, pencil and musical instruments as goddess Saraswati. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">There is also a belief that you will blessed if you begin your learning after worshiping Saraswati. The day is also regarded as auspicious for social and religious functions like marriage, bratabanda, gufa and belbibaha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">It is considered auspicious to start education for children and to pierce their nose and ears. Devotees, especially students, throng the temples of Goddess Saraswati since early morning today. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, in a message of best wishes on the occasion, President Ram Chandra Paudel said that Saraswati Pooja is a festival that always energizes life and inspires new discoveries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">President Paudel expressed his confidence that this day would inspire learners for acquiring education and fulfillment of knowledge. He extended his best wishes to all Nepalis brothers, sisters and children at home and abroad on the occasion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Stating that Goddess Saraswati is extolled as the Goddess of education, knowledge and music, Paudel said that it is believed that if the children are enrolled in the school on auspicious day, Goddess Saraswati is always benevolent to the learners and students.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Head of the State in his message said, "Basanta Panchami has been considered the major day for the music connoisseurs to worship. Today is considered auspicious day for those willing to venture out on a new endeavor or to perform marriage ceremonies and other religious functions."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">He also extended his best wishes that may Goddess Saraswati's blessings be on all Nepalis and may this festival inspire to maintain unity amid social and cultural diversity of the country as well as to conserve unique religious and cultures. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Stating that today is also celebrated as Saraswati Janmostav, the birthday of Goddess Saraswati, the President said that today marks the beginning of the spring seasons and the sun's path gradually drifts to northwards, causing longer days and shorter nights henceforth indicating the affinity between nature and the lives of Nepalis people. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19976', 'image' => '20240214062305_collage (32).jpg', 'article_date' => '2024-02-14 06:21:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20248', 'article_category_id' => '1', 'title' => 'UN Recognizes Terai Arc Landscape as World Restoration Flagship ', 'sub_title' => '', 'summary' => 'February 13: The United Nations has recognized the Terai Arc Landscape (TAL) as one of the seven UN World Restoration Flagships to honour the best examples of large-scale and long term ecosystem restoration in any country or region.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 13: The United Nations has recognized the Terai Arc Landscape (TAL) as one of the seven UN World Restoration Flagships to honour the best examples of large-scale and long term ecosystem restoration in any country or region.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The UN made the announcement on Tuesday as part of the UN Decade on Ecosystem Restoration in Nairobi, Kenya. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Forests and Soil Conservation, the Department of National Wildlife and Conservation and the World Wildlife Fund (WWF) organized a joint press conference on Tuesday and shared this information. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"This exceptional conservation outcome has been possible under the leadership of the government, stewardship of the communities and engagement of the civil society. This collaborative effort has helped protect and restore forests, increase species population, enhance ecosystem services and trans-border corridor functionality. This has garnered international recognition, positioning the Terai Arc Landscape as a pioneer in implementing landscape-level conservation practices worldwide,” the WWF said in a press statement. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the United Nations Environment Programme, the Terai Arc Landscape initiative aims to protect a biodiversity hotspot shared by India and Nepal that was rapidly degrading.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Terai Arc Landscape stretches over 900 kilometres from the Bagmati river in the east to the Yamuna river of India in the west. In Nepal, the area extends from the Bagmati river in the east to the Mahakali river in the west covering six protected areas, four forest conservation areas, three wetland areas and several critical corridors. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On Nepal’s side alone, more than 7.5 million people and a plethora of wildlife – tigers, rhinos, elephants, black bucks, buffaloes, crocodiles, and birds – depend on the vast Terai Arc Landscape, stretching across 2.47 million hectares, added the UN.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the WWF, the Terai Arc Landscape envisions a globally unique landscape where biodiversity is conserved, ecological integrity is safeguarded, and the socio-economic well-being of the people is secured. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The program has also benefitted the local community through nature-based tourism, home stays, green enterprises, and many other initiatives through the engagement of local community members, community forest users, buffer zone communities, community-based anti-poaching units, citizen scientists and forest watchers. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nepal will be honoured for the achievement on February 27. Minister for Forests and Environment Birendra Prasad Mahato is scheduled to visit Nairobi representing the government. (With inputs from RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19975', 'image' => '20240213090726_20210729013117_20150914111210_chitwan.jpg', 'article_date' => '2024-02-13 21:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20247', 'article_category_id' => '1', 'title' => 'NEPSE Slumps by 30.56 Points, Closing at 2070.59', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed a decline of 30.56 points or 1.45%, closing at 2070.59 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 13: The Nepal Stock Exchange (NEPSE) witnessed a decline of 30.56 points or 1.45%, closing at 2070.59 on the third trading day of the week on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market experts and investors attributed today’s loss to the half-yearly review of monetary policy released by the Nepal Rastra Bank. "The market tumbled today due to the loss of confidence in the central bank among investors," said one investor. The central bank did not make any changes regarding the share market in its half-yearly review.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 305 scrips were traded on the NEPSE through 82,899 transactions. A total of 12,165,202 shares changed hands, resulting in a total turnover of Rs 4.66 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the turnover with transactions of shares worth Rs 32 crores. Bottlers Nepal Limited (BNL), Samaj Laghubitta Bittiya Sanstha (SAMAJ), and Super Mai Hydropower Limited (SMH) each saw a gain of 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> On the contrary, Gurans Laghubitta Bittiya Sanstha Limited (GLBSL) incurred the highest loss at 9.70%, closing at a market price of Rs 979 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the red territory. The Others Index lost 2.27%, while the Finance Index dropped by 2.20%. The HydroPower Index and Trading Index lost 0.58% and 0.52%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19974', 'image' => '20240213035423_collage (9).jpg', 'article_date' => '2024-02-13 15:52:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '20246', 'article_category_id' => '1', 'title' => 'Government Plans Labour Agreement with Saudi Arabia', 'sub_title' => '', 'summary' => 'February 13: The government is on the verge of finalizing a bilateral labour agreement with Saudi Arabia within a month.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 13: The government is on the verge of finalizing a bilateral labour agreement with Saudi Arabia within a month. This significant development comes following discussions between Minister for Labour, Employment, and Social Security, Sharat Singh Bhandari, and Saudi Arabia’s Minister for Human Resources and Social Development, Ahmad bin Sulaiman AlRajhi, during the Abu Dhabi Dialogue in the UAE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajiv Pokhrel, spokesperson for the Labour Ministry, revealed that Nepal proposed the labour agreement with Saudi officials during a sideline meeting, which was met with acceptance by the Saudi government. Pokhrel further elaborated that Saudi Arabia has pledged to conclude the labour agreement with Nepal after addressing certain considerations. Notably, Nepal has been diligently preparing for the labour agreement with Saudi Arabia for the past eight years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite the influx of unskilled Nepali workers to Saudi Arabia, concerns persist regarding the lack of guaranteed rights of Nepali workers. Although discussions regarding the labour agreement have taken place on numerous occasions between Nepal and Saudi authorities, reaching an agreement has been hindered by Saudi Arabia's insistence on formulating separate agreements for domestic workers alongside general workers.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19973', 'image' => '20240213031257_saudi.jpg', 'article_date' => '2024-02-13 15:12:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20244', 'article_category_id' => '1', 'title' => 'IMF Team Finds Investment-Friendly Environment in Nepal's Energy Sector ', 'sub_title' => '', 'summary' => 'February 13: A delegation from the International Monetary Fund (IMF) has found investment-friendly environment in the energy infrastructure sector of Nepal despite various challenges in the country's economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 13: A delegation from the International Monetary Fund (IMF) has found investment-friendly environment in the energy infrastructure sector of Nepal despite various challenges in the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IMF staff team, led by Tidiane Kinda, conducted a staff visit to Nepal from February 5-12 to discuss recent macroeconomic developments and the implementation of the Fund-supported programme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Nepal’s external position continues to strengthen on the back of buoyant remittances, increasing tourism activity, subdued imports, and decline in inflation. Weak domestic demand, large outward migration, and low credit growth despite monetary relaxation continue to weigh on near-term economic growth,” team leader Kinda said in a press note issued on conclusion of their visit on Monday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IMF team suggested that enhancing domestic revenue mobilization and accelerating the execution of capital expenditure will provide needed support to growth while securing fiscal sustainability. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Increased vigilance on banks’ asset quality and stepped-up supervisory efforts are important to preserve financial stability in view of growing non-performing loans, added the statement.</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 IMF delegation, the medium-term economic outlook of Nepal remains favorable, as strategic investments in infrastructure, especially in the energy sector, are expected to support potential growth. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The upcoming Investment Summit presents an opportunity to showcase Nepal’s economic potential, said the team, adding, “Timely reforms to durably improve the investment climate will help take full advantage of the summit and pave the way to stronger growth in the future.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The visiting delegation welcomed the government authorities’ ongoing efforts in meeting key commitments under the International Monetary Fund-supported programme, with the support of IMF’s technical assistance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Performance under the programme will be formally assessed in the context of the fourth review of the Extended Credit Facility, which is expected to take place in the middle of the year, states the press note. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Deputy Director of the IMF’s Asia and Pacific Department, Gulde-Wolf, attended key meetings. The IMF team held meetings with the Finance Minister Dr Prakash Sharan Mahat, Nepal Rastra Bank’s Governor Maha Prasad Adhikari, the National Planning Commission’s Vice-Chairman Dr Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19971', 'image' => '20240213022233_hydro.jpg', 'article_date' => '2024-02-13 14:21:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20241', 'article_category_id' => '1', 'title' => 'NRB Unveils Mid-Term Review of Monetary Policy', 'sub_title' => 'Interest for institutional fixed deposit should be less than individual fixed deposits by one percentage point ', 'summary' => 'February 13: Nepal Rastra Bank has made public the details of the mid-term review of the monetary policy of the current financial year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 13: Nepal Rastra Bank has made public the details of the mid-term review of the monetary policy of the current financial year. Based on the review, the central bank has made new arrangements for the implementation of the interest rate of fixed deposits and the interest rate 'corridor'. </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"">"To make the interest rate corridor effective, the fixed deposit facility will be implemented from mid-February,” states the mid-term review of the monetary policy, adding, "The interest rate of institutional fixed deposits will be arranged in such a way that it can be fixed by making it one percentage point lower than the interest rate provided for individual fixed deposits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, loans up to Rs 20 million provided to agricultural, small, cottage and medium-scale enterprises will be allowed to be counted in the 'Regulatory Retail Portfolio'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the internal and external situations and scenario of the economy and the policy arrangements made during the first quarterly review, the rates under the interest rate corridor have been kept unchanged. Provisions related to mandatory cash reserve ratio and statutory liquidity ratio have been given continuity. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19968', 'image' => '20240213010750_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-13 13:06:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20240', 'article_category_id' => '1', 'title' => 'NTA Chairman Appointment Process to Proceed as SC Refuses Interim Order', 'sub_title' => '', 'summary' => 'February 13: The Supreme Court has declined to issue an interim order to halt the appointment process of the chairman of the Nepal Telecommunications Authority (NTA), thereby allowing the government to proceed with the selection process.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">February 13: The Supreme Court has declined to issue an interim order to halt the appointment process of the chairman of the Nepal Telecommunications Authority (NTA), thereby allowing the government to proceed with the selection process. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">SC justices Sushmalata Mathema and Nahakul Subedi rejected the petition demanding a stay order, thereby enabling the government to continue the appointment process for the NTA chairman.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">According to the Nepal Telecommunications Act of 2053, candidates for the post of chairman of the NTA must have held a first-class or higher position in the governmental or institutional hierarchy and possess expertise and experience in technical, administrative, market management, financial, or legal sectors related to telecommunications services.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">This eligibility criterion faced objections from advocates Anant Raj Luitel, Pratibha Upreti, and Bishal Thapa, who filed a writ petition in the Supreme Court, arguing that it discriminates against individuals from the private sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Despite these objections, the Supreme Court's decision on Monday has cleared the way for the government to proceed with the NTA chairman appointment process.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19967', 'image' => '20240213123922_Supreme Court.jpg', 'article_date' => '2024-02-13 12:38:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20239', 'article_category_id' => '1', 'title' => 'Over 20 Percent of the Population in Nepal Lives Below the Poverty Line', 'sub_title' => '', 'summary' => 'February 13: The latest Nepal Living Standards Survey has revealed that 20.27 percent of the population in Nepal is living below the poverty line.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 13: The latest Nepal Living Standards Survey has revealed that 20.27 percent of the population in Nepal is living below the poverty line. The incidence of poverty is more prevalent in rural areas (24.66 percent) compared to urban areas (18.34 percent). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Releasing the Nepal Living Standard Survey (NLSS) 2079-080 on Monday, the NSO said that the country's poverty rate could not decrease as expected due to the Gorkha Earthquake in 2015 and the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the official poverty line for the year 2022/23, an individual in Nepal is deemed poor if their annual per capita total consumption expenditure falls below Rs 72,908.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey indicates significant disparity in poverty incidence across the seven provinces and the 15 administrative domains. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Four out of the seven provinces exhibit poverty rates higher than the national average. Sudurpashchim province has the highest poverty rate at 34.16 percent, followed by Karnali (26.69 percent), Lumbini (24.35 percent), and Madhesh (22.53 percent). Conversely, Gandaki, Bagmati, and Koshi provinces have rates lower than the national average at 11.88 percent, 12.59 percent, and 17.19 percent, respectively.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19966', 'image' => '20240213115413_poverty.jpg', 'article_date' => '2024-02-13 11:53:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20238', 'article_category_id' => '1', 'title' => 'Government Trims Budget Size by 13 Percent', 'sub_title' => '', 'summary' => 'February 13: The government downsized the budget on Monday, giving continuity to the trend of initially presenting a sizable budget followed by adjustments through the mid-term review.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 13: The government downsized the budget on Monday, giving continuity to the trend of initially presenting a sizable budget followed by adjustments through the mid-term review.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Ministry of Finance has recalibrated the size of the current fiscal year's budget by approximately 13 percent through the mid-term review of the budget announced for FY 2023/24.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Earlier on May 29, Finance Minister Dr Prakash Sharan Mahat had unveiled a budget of Rs 1,751.31 billion. However, in the mid-term review, Finance Minister Mahat announced that the budget has been reduced to Rs 1,530.26 billion, marking a reduction of Rs 221 billion. The revised estimate accounts for 87.38 percent of the initially allocated budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, the government has downscaled the budget for recurrent expenditure from Rs 1,141.78 billion to Rs 1,007.45 billion. Similarly, the budget for capital expenditure has been revised to Rs 254.13 billion from Rs 302.07 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has also revised the revenue collection target to Rs 1309 billion from Rs 1422 billion. Finance Minister Mahat said that the government expects to receive foreign grants worth Rs 40.12 billion instead of the previously estimated grants of Rs 49.94 billion. The government has also reduced the projected foreign loans from Rs 212.75 billion to Rs 180.83 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Spending in national pride projects remain poor</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The mid-term review of budget has admitted the sluggish progress in the construction of large infrastructure projects, designated as national pride projects. Despite an allocation of Rs 65.64 billion for these endeavors, a mere Rs 15.55 billion has been utilized in the first half of the current fiscal year. This lackluster expenditure on national pride projects has contributed to an overall capital expenditure of only Rs 50.44 billion by mid-January 2024, representing a meager 16.70 percent of the total allocation.</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 latest data from the Financial Comptroller General Office (FCGO), only 39 percent of the total budget has been expended by the end of the first seven months of this fiscal year. Furthermore, out of this expenditure, the capital expenditure earmarked for development comprises only 21 percent of the annual target, indicating a substantial lag in spending in this critical area.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19965', 'image' => '20240213111920_budget.jpg', 'article_date' => '2024-02-13 11:18:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20237', 'article_category_id' => '1', 'title' => 'Annual Nominal Household Consumption Expenditure up by 66.23 Percent', 'sub_title' => '', 'summary' => 'February 13: The Nepal Living Standards Survey has shown that yearly spatially and temporally adjusted per capita consumption expenditures have surged by 66 percent, rising from Rs 75,902 to Rs 126,172 in real terms between 2011 and 2023.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">February 13: The Nepal Living Standards Survey has shown that yearly spatially and temporally adjusted per capita consumption expenditures have surged by 66 percent, rising from Rs 75,902 to Rs 126,172 in real terms between 2011 and 2023. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Over the same period, the proportion of non-food spending has escalated from an average of 38 percent to 47 percent. Moreover, the distribution of food expenditures has undergone a transformation since the previous NLSS, shifting away from cereals, which provide relatively inexpensive calories, towards more nutritious diets characterized by a greater allocation of spending on fruits, nuts, and meats, albeit these being more costly calorie sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">When it comes to nominal household consumption expenditure, Kathmandu Valley leads with an annual average of Rs 263,318. Following closely, urban areas of Gandaki Province records the second highest expenditure at Rs 176,542 per year, representing 67 percent of that in Kathmandu Valley. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Conversely, the lowest average annual nominal per capita expenditures are observed in rural areas of Madhesh and Sudurpaschim provinces at Rs 71,828 and Rs 72,861 per person per year, respectively.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19964', 'image' => '20240213105500_foodbasket.jpg', 'article_date' => '2024-02-13 10:51:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '20254', 'article_category_id' => '1', 'title' => 'NRB Announces Standing Deposit Facility to Implement Interest Rate Corridor', 'sub_title' => '', 'summary' => 'February 14: Nepal Rastra Bank, which failed to implement the interest rate corridor since the beginning of the current fiscal year, announced the 'Standing Deposit Facility' tool on Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 14: Nepal Rastra Bank, which failed to implement the interest rate corridor since the beginning of the current fiscal year, announced the 'Standing Deposit Facility' tool on Tuesday. The officials of the central bank claim that the short-term interest rate can be kept within the limits of the corridor by allowing banks and financial institutions to deposit whatever amount they have in the form of excess liquidity in the central bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Under the Standing Deposit Facility, the banks can deposit whatever amount of excess liquidity they have in the central bank," said the executive director of Nepal Rashtra Bank. Prakash Kumar Shrestha, adding, “This facility helps manage liquidity and maintain the interest rate within the limits of the corridor.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank had announced in the monetary policy of the current fiscal year that it will provide the Standing Deposit Facility if the weighted average of interbank interest rate falls below the deposit collection rate under the interest rate corridor. In order to implement the announcement, the central bank has amended the regulations and procedures related to open market transactions and made arrangements to provide Standing Liquidity Facility from mid-February.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, the fixed the deposit collection rate of the central bank is 3 percent. Banks will be allowed to deposit excess liquidity with the Nepal Rashtra Bank at an interest rate of 3 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former banker Parshuram Kunwar Chhetri says that Standing Deposit Facility will help implement the interest rate corridor. "It is an attractive investment for banks to keep deposits in the central bank at 3 percent interest rate," he said, "This makes it easier to manage liquidity and implement the interest rate corridor." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The interbank interest rate has started falling below the target limit since mid-September of the current fiscal year. Even when the interbank interest rate fell below the limit, the central bank did not issue any monetary instrument to increase it till mid-November. After mid-November, deposit collection instruments were released in a hurry, but the interest rate was being kept within the limits of the corridor.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In order to implement the interest rate corridor effectively, the NRB has also implemented the 'Interest Rate Corridor Procedure 2076'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the procedure, the upper limit of the bank rate and the lower limit of the deposit collection rate should be set and the interbank interest rate should be kept in between. For this purpose, Nepal Rastra Bank has a provision to use various monetary instruments for liquidity flow and mopping of excess of liquidity. In the current fiscal year, the central bank has collected more than Rs 550 billion through deposit collection tools.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19981', 'image' => '20240214030623_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-14 15:05:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20253', 'article_category_id' => '1', 'title' => 'Net Profit of Listed Hotels Up due to Increase in Arrival of Tourists', 'sub_title' => '', 'summary' => 'February 14: Six companies of the hotel and tourism group are listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 14: Six companies of the hotel and tourism group are listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities. Among them, the net profit of five companies up to the second quarter of the current fiscal year has increased compared to the same period of the previous year. The net profits of Soaltee Hotel, Taragaon Regency Hotels, Chandragiri Hills Limited, Oriental Hotels Limited and Kalinchok Darshan have increased in the review period.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">City Hotel faced a loss of Rs 117.9 million in the second quarter of the current fiscal year. Even in the second quarter of last fiscal year, City Hotel had registered a loss of Rs 132.4 million. Compared to the previous year, the loss of City Hotel is less this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The profits of the hotel and tourism groups have increased due to the increase in arrival of tourists after the coronavirus pandemic subsided.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the data of Nepal Tourism Board, 1,014,876 foreign tourists entered Nepal via the air route in 2023. This figure is 400, 000 more than in 2022. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Soaltee Hotel earned the highest profit of Rs 263.11 million among the companies under the hotel and tourism group listed in NEPSE.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This profit is 4.64 percent higher than the profit in the second quarter of last year. Soaltee Hotel earned more than Rs 1.5 billion in the second quarter of the current fiscal year. Last year, the income of this hotel was Rs 960.1 million. Recently, the income has increased due to the increase in the arrival of foreign tourists, reads the financial statement released by the hotel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The profit of Taragaon Regency Hotels has increased by 71 percent compared to the second quarter of last year, the highest among all in the group. Taragaon Regency, which made a profit of Rs 100.61 million in the second quarter last year, has made a profit of Rs 181.6 million during the same period of this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the profit of Oriental Hotels increased by 46.24 percent in the second quarter of the current fiscal year compared to the second quarter of last fiscal year. Oriental made a profit of Rs 36.5 million in the second quarter of last year, but this year it increased to Rs 53.4 million. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the profit of Chandragiri Hills Limited till the second quarter has reached Rs 62.8 million. This is 22 percent more than the same period last year. Last year, the company's profit up to the second quarter was Rs 51.4 million.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Kalinchok Darshan Limited which made a profit of 6.47 million in the second quarter of last year, made a profit of Rs 6.43 million in the second quarter of the current fiscal year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-16', 'keywords' => '', 'description' => '', 'sortorder' => '19980', 'image' => '20240214022543_Hotel.jpg', 'article_date' => '2024-02-14 14:24:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20252', 'article_category_id' => '1', 'title' => 'Eighty-Nine People held on Charge of Human Trafficking in Six Months ', 'sub_title' => '', 'summary' => 'February 14: Nepal Police has arrested 89 people for their alleged involvement in human trafficking in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 14: Nepal Police has arrested 89 people for their alleged involvement in human trafficking in the first six months of the current fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, they have apprehended 67 men and 22 women from July 17, 2023 to January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Babarmahal-based Anti Human Trafficking Investigation Bureau has been working as a specialized unit of the Nepal Police for the prevention and control of crimes related to human trafficking. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bureau said 236 persons have been rescued from being trafficked in the review period. Among those rescued, 150 are women, 26 are men and 60 are girls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is one of the most affected countries from both internal and cross-border human trafficking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Inspector General Bhim Prasad Dhakal, spokesperson for Nepal Police, said a large number of Nepalis fall victim to human trafficking due to the allurement of employment or illegal settlement in various countries, including in India, Malaysia, Qatar, Saudi Arabia, Libya, Bahrain, Kuwait, the United Arab Emirates, America and different European and African nations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Nepal Police has provided character certificates to 550,060 individuals via online in the last seven months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said, 710,944 Nepalis and foreign nationals had submitted online applications seeking Police Report (character certificate) from Nepal Police during that period. Of these applications, 144,212 were canceled while 16,672 applications are being processed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Criminal Record System Section at the Police Headquarters carries out works related to police report. This section falls under the Department of Crime Investigation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department’s chief, Additional Inspector General Tek Bahadur Tamang, said the police report is provided within five days of receiving the application. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19979', 'image' => '20240214010011_human traficking.jpg', 'article_date' => '2024-02-14 12:59:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20251', 'article_category_id' => '1', 'title' => 'License of Nine Hydropower Projects Likely to be Revoked due to Obstruction from Protected Areas', 'sub_title' => '', 'summary' => 'February 14: The permits of nine hydropower projects with a capacity of 461 megawatts are on the verge of being revoked due to their failure to get consent for survey from national parks and various protected areas.', '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:"mukta","serif"">February 14: The permits of nine hydropower projects with a capacity of 461 megawatts are on the verge of being revoked due to their failure to get consent for survey from national parks and various protected areas. </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:"mukta","serif"">Those hydropower companies have already paid millions of rupees in royalties and have also received survey license from the Ministry of Energy. However, the national parks and conservation areas under the Ministry of Forests and Environment have not given their consent for the survey of the hydropower projects. As a result, their license is likely to be revoked.</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:"mukta","serif"">A team of promoters of the projects affected by the protected areas, under the leadership of Ganesh Karki, the president of the Independent Power Producers Association, Nepal (IPPAN), met Secretary of the Ministry of Forests and Environment Dr Deepak Kharal on Monday and urged him to take initiative to resolve the problems faced by these projects.</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:"mukta","serif"">The promoters said that their permits will expire after three months if the Ministry of Forests and Environment does not give its consent to conduct the survey. Therefore, they requested Forest Secretary Dr Kharal bail them out by giving permission immediately to carry out the survey of the projects.</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:"mukta","serif"">IPPAN President Karki also requested Secretary Kharal to recommend to the Ministry of Energy to extend the deadline of the permits of the affected projects by two years, as the deadline of the survey license is about to expire due to the non-cooperation from the national parks and protected areas.</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:"mukta","serif"">The promoters of hydropower projects argued that they have been paying millions of rupees as royalties to the government every year since the Ministry of Energy granted then survey license five years ago. Since the non-cooperation from the national parks is likely to waste their investment, the private sector energy promoters requested Dr Kharal to take a secretary-level decision to grant them permission for survey.</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:"mukta","serif"">Promoter Sitaram Timalsina said that it is not fair to threaten to arrest the promoters just because the park officials are not satisfied with certain provisions.</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:"mukta","serif"">"They have threaten us that they will come to our houses at night and arrest us. They insist that all three generations of our family must attend the meeting fixed by them," Timalsina told the forest secretary, adding, "We are building hydropower projects. We are engaged in a campaign to make the country prosperous. It's not like smuggling.”</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:"mukta","serif"">Bharat Parajuli, the promoter of the Lagang river (Brahmaani A) hydropower project, said that it is sad that the park officials treat tree smugglers and hydropower promoters in the same way. </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:"mukta","serif"">"We feel like we are insulted. They are threatening to imprison people who are engaged in the campaign to make the country prosperous," Parajuli said, "If there is a weakness, let's correct it. We build hydropower. That’s not a crime.”</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:"mukta","serif"">Businessmen complained that the national parks did not give them permission to expand the capacity of the projects. They argued that the park officials are not ready to give them permission to increase the capacity of hydropower projects from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif""> megawatts to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif""> megawatts without cutting more trees in the forest and without adding any new structures.</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:"mukta","serif""> They demanded revising the procedure for releasing water in the protected areas under the Procedure for Providing Land for Construction of Physical Infrastructure in Protected Areas </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif"">. They argued that the new provision of releasing water in cumec instead of cusec will affect many hydropower projects and therefore urged to reverse it to the previous provision.</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:"mukta","serif"">Secretary Dr. Kharal assured the delegation that he would do all he can to address their problems including recommendation for two-year term extension.</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:"mukta","serif"">The government has started the process of improving its policies through reforms in the legal system to create a conducive environment for investment in the country ahead of the Third Investment Summit scheduled for late April.</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:"mukta","serif"">However, the draft submitted by a task force for law reforms, mentions that hydropower projects need to plant ten times more trees if they require to cut trees in national forests and protected areas. There was no such provisions until now, say the promoters.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19978', 'image' => '20240214112413_hydro.jpg', 'article_date' => '2024-02-14 11:23:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20250', 'article_category_id' => '1', 'title' => 'Possibility of Light Rain and Snowfall Today ', 'sub_title' => '', 'summary' => 'February 14: Meteorological Forecasting Division has predicted light rainfall at one or two places of Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 14: Meteorological Forecasting Division has predicted light rainfall at one or two places of Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today, and light snowfall at a few places of the high-hill and mountainous region of the country.</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"">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, the weather across the country at present is partly to generally cloudy due to the partial influence of the Westerly Winds.</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"">The division said that the weather will remain partly to generally cloudy in Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today afternoon while it will remain partially to mainly fair in the Sudurpaschim province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the division in its daily bulletin said that there is possibility of light rain at one or two places of Koshi province tonight. Likewise, there are chances of light snowfall at a few places of the high-hill and mountainous region of Koshi, Bagmati and Gandaki provinces tonight. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19977', 'image' => '20240214101003_2024011511040359_DSC_2752.jpg', 'article_date' => '2024-02-14 10:09:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20249', 'article_category_id' => '1', 'title' => 'Basanta Panchami Being Observed Across the Country', 'sub_title' => '', 'summary' => 'Basanta Panchami is being celebrated all over the country by paying homage to Goddess Saraswati, known as the goddess of knowledge. Also known as Saraswati Pooja, writers, artists, journalists, teachers and students worship their tools, pen, paper, pencil and musical instruments as goddess Saraswati. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 14: Basanta Panchami is being celebrated all over the country by paying homage to Goddess Saraswati, known as the goddess of knowledge. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Also known as Saraswati Pooja, writers, artists, journalists, teachers and students worship their tools, pen, paper, pencil and musical instruments as goddess Saraswati. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">There is also a belief that you will blessed if you begin your learning after worshiping Saraswati. The day is also regarded as auspicious for social and religious functions like marriage, bratabanda, gufa and belbibaha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">It is considered auspicious to start education for children and to pierce their nose and ears. Devotees, especially students, throng the temples of Goddess Saraswati since early morning today. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, in a message of best wishes on the occasion, President Ram Chandra Paudel said that Saraswati Pooja is a festival that always energizes life and inspires new discoveries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">President Paudel expressed his confidence that this day would inspire learners for acquiring education and fulfillment of knowledge. He extended his best wishes to all Nepalis brothers, sisters and children at home and abroad on the occasion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Stating that Goddess Saraswati is extolled as the Goddess of education, knowledge and music, Paudel said that it is believed that if the children are enrolled in the school on auspicious day, Goddess Saraswati is always benevolent to the learners and students.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Head of the State in his message said, "Basanta Panchami has been considered the major day for the music connoisseurs to worship. Today is considered auspicious day for those willing to venture out on a new endeavor or to perform marriage ceremonies and other religious functions."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">He also extended his best wishes that may Goddess Saraswati's blessings be on all Nepalis and may this festival inspire to maintain unity amid social and cultural diversity of the country as well as to conserve unique religious and cultures. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Stating that today is also celebrated as Saraswati Janmostav, the birthday of Goddess Saraswati, the President said that today marks the beginning of the spring seasons and the sun's path gradually drifts to northwards, causing longer days and shorter nights henceforth indicating the affinity between nature and the lives of Nepalis people. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19976', 'image' => '20240214062305_collage (32).jpg', 'article_date' => '2024-02-14 06:21:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20248', 'article_category_id' => '1', 'title' => 'UN Recognizes Terai Arc Landscape as World Restoration Flagship ', 'sub_title' => '', 'summary' => 'February 13: The United Nations has recognized the Terai Arc Landscape (TAL) as one of the seven UN World Restoration Flagships to honour the best examples of large-scale and long term ecosystem restoration in any country or region.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 13: The United Nations has recognized the Terai Arc Landscape (TAL) as one of the seven UN World Restoration Flagships to honour the best examples of large-scale and long term ecosystem restoration in any country or region.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The UN made the announcement on Tuesday as part of the UN Decade on Ecosystem Restoration in Nairobi, Kenya. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Forests and Soil Conservation, the Department of National Wildlife and Conservation and the World Wildlife Fund (WWF) organized a joint press conference on Tuesday and shared this information. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"This exceptional conservation outcome has been possible under the leadership of the government, stewardship of the communities and engagement of the civil society. This collaborative effort has helped protect and restore forests, increase species population, enhance ecosystem services and trans-border corridor functionality. This has garnered international recognition, positioning the Terai Arc Landscape as a pioneer in implementing landscape-level conservation practices worldwide,” the WWF said in a press statement. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the United Nations Environment Programme, the Terai Arc Landscape initiative aims to protect a biodiversity hotspot shared by India and Nepal that was rapidly degrading.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Terai Arc Landscape stretches over 900 kilometres from the Bagmati river in the east to the Yamuna river of India in the west. In Nepal, the area extends from the Bagmati river in the east to the Mahakali river in the west covering six protected areas, four forest conservation areas, three wetland areas and several critical corridors. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On Nepal’s side alone, more than 7.5 million people and a plethora of wildlife – tigers, rhinos, elephants, black bucks, buffaloes, crocodiles, and birds – depend on the vast Terai Arc Landscape, stretching across 2.47 million hectares, added the UN.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the WWF, the Terai Arc Landscape envisions a globally unique landscape where biodiversity is conserved, ecological integrity is safeguarded, and the socio-economic well-being of the people is secured. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The program has also benefitted the local community through nature-based tourism, home stays, green enterprises, and many other initiatives through the engagement of local community members, community forest users, buffer zone communities, community-based anti-poaching units, citizen scientists and forest watchers. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nepal will be honoured for the achievement on February 27. Minister for Forests and Environment Birendra Prasad Mahato is scheduled to visit Nairobi representing the government. (With inputs from RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19975', 'image' => '20240213090726_20210729013117_20150914111210_chitwan.jpg', 'article_date' => '2024-02-13 21:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20247', 'article_category_id' => '1', 'title' => 'NEPSE Slumps by 30.56 Points, Closing at 2070.59', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed a decline of 30.56 points or 1.45%, closing at 2070.59 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 13: The Nepal Stock Exchange (NEPSE) witnessed a decline of 30.56 points or 1.45%, closing at 2070.59 on the third trading day of the week on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market experts and investors attributed today’s loss to the half-yearly review of monetary policy released by the Nepal Rastra Bank. "The market tumbled today due to the loss of confidence in the central bank among investors," said one investor. The central bank did not make any changes regarding the share market in its half-yearly review.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 305 scrips were traded on the NEPSE through 82,899 transactions. A total of 12,165,202 shares changed hands, resulting in a total turnover of Rs 4.66 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the turnover with transactions of shares worth Rs 32 crores. Bottlers Nepal Limited (BNL), Samaj Laghubitta Bittiya Sanstha (SAMAJ), and Super Mai Hydropower Limited (SMH) each saw a gain of 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> On the contrary, Gurans Laghubitta Bittiya Sanstha Limited (GLBSL) incurred the highest loss at 9.70%, closing at a market price of Rs 979 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the red territory. The Others Index lost 2.27%, while the Finance Index dropped by 2.20%. The HydroPower Index and Trading Index lost 0.58% and 0.52%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19974', 'image' => '20240213035423_collage (9).jpg', 'article_date' => '2024-02-13 15:52:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '20246', 'article_category_id' => '1', 'title' => 'Government Plans Labour Agreement with Saudi Arabia', 'sub_title' => '', 'summary' => 'February 13: The government is on the verge of finalizing a bilateral labour agreement with Saudi Arabia within a month.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 13: The government is on the verge of finalizing a bilateral labour agreement with Saudi Arabia within a month. This significant development comes following discussions between Minister for Labour, Employment, and Social Security, Sharat Singh Bhandari, and Saudi Arabia’s Minister for Human Resources and Social Development, Ahmad bin Sulaiman AlRajhi, during the Abu Dhabi Dialogue in the UAE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajiv Pokhrel, spokesperson for the Labour Ministry, revealed that Nepal proposed the labour agreement with Saudi officials during a sideline meeting, which was met with acceptance by the Saudi government. Pokhrel further elaborated that Saudi Arabia has pledged to conclude the labour agreement with Nepal after addressing certain considerations. Notably, Nepal has been diligently preparing for the labour agreement with Saudi Arabia for the past eight years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite the influx of unskilled Nepali workers to Saudi Arabia, concerns persist regarding the lack of guaranteed rights of Nepali workers. Although discussions regarding the labour agreement have taken place on numerous occasions between Nepal and Saudi authorities, reaching an agreement has been hindered by Saudi Arabia's insistence on formulating separate agreements for domestic workers alongside general workers.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19973', 'image' => '20240213031257_saudi.jpg', 'article_date' => '2024-02-13 15:12:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20244', 'article_category_id' => '1', 'title' => 'IMF Team Finds Investment-Friendly Environment in Nepal's Energy Sector ', 'sub_title' => '', 'summary' => 'February 13: A delegation from the International Monetary Fund (IMF) has found investment-friendly environment in the energy infrastructure sector of Nepal despite various challenges in the country's economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 13: A delegation from the International Monetary Fund (IMF) has found investment-friendly environment in the energy infrastructure sector of Nepal despite various challenges in the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IMF staff team, led by Tidiane Kinda, conducted a staff visit to Nepal from February 5-12 to discuss recent macroeconomic developments and the implementation of the Fund-supported programme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Nepal’s external position continues to strengthen on the back of buoyant remittances, increasing tourism activity, subdued imports, and decline in inflation. Weak domestic demand, large outward migration, and low credit growth despite monetary relaxation continue to weigh on near-term economic growth,” team leader Kinda said in a press note issued on conclusion of their visit on Monday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IMF team suggested that enhancing domestic revenue mobilization and accelerating the execution of capital expenditure will provide needed support to growth while securing fiscal sustainability. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Increased vigilance on banks’ asset quality and stepped-up supervisory efforts are important to preserve financial stability in view of growing non-performing loans, added the statement.</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 IMF delegation, the medium-term economic outlook of Nepal remains favorable, as strategic investments in infrastructure, especially in the energy sector, are expected to support potential growth. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The upcoming Investment Summit presents an opportunity to showcase Nepal’s economic potential, said the team, adding, “Timely reforms to durably improve the investment climate will help take full advantage of the summit and pave the way to stronger growth in the future.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The visiting delegation welcomed the government authorities’ ongoing efforts in meeting key commitments under the International Monetary Fund-supported programme, with the support of IMF’s technical assistance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Performance under the programme will be formally assessed in the context of the fourth review of the Extended Credit Facility, which is expected to take place in the middle of the year, states the press note. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Deputy Director of the IMF’s Asia and Pacific Department, Gulde-Wolf, attended key meetings. The IMF team held meetings with the Finance Minister Dr Prakash Sharan Mahat, Nepal Rastra Bank’s Governor Maha Prasad Adhikari, the National Planning Commission’s Vice-Chairman Dr Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19971', 'image' => '20240213022233_hydro.jpg', 'article_date' => '2024-02-13 14:21:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20241', 'article_category_id' => '1', 'title' => 'NRB Unveils Mid-Term Review of Monetary Policy', 'sub_title' => 'Interest for institutional fixed deposit should be less than individual fixed deposits by one percentage point ', 'summary' => 'February 13: Nepal Rastra Bank has made public the details of the mid-term review of the monetary policy of the current financial year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 13: Nepal Rastra Bank has made public the details of the mid-term review of the monetary policy of the current financial year. Based on the review, the central bank has made new arrangements for the implementation of the interest rate of fixed deposits and the interest rate 'corridor'. </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"">"To make the interest rate corridor effective, the fixed deposit facility will be implemented from mid-February,” states the mid-term review of the monetary policy, adding, "The interest rate of institutional fixed deposits will be arranged in such a way that it can be fixed by making it one percentage point lower than the interest rate provided for individual fixed deposits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, loans up to Rs 20 million provided to agricultural, small, cottage and medium-scale enterprises will be allowed to be counted in the 'Regulatory Retail Portfolio'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the internal and external situations and scenario of the economy and the policy arrangements made during the first quarterly review, the rates under the interest rate corridor have been kept unchanged. Provisions related to mandatory cash reserve ratio and statutory liquidity ratio have been given continuity. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19968', 'image' => '20240213010750_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-13 13:06:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20240', 'article_category_id' => '1', 'title' => 'NTA Chairman Appointment Process to Proceed as SC Refuses Interim Order', 'sub_title' => '', 'summary' => 'February 13: The Supreme Court has declined to issue an interim order to halt the appointment process of the chairman of the Nepal Telecommunications Authority (NTA), thereby allowing the government to proceed with the selection process.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">February 13: The Supreme Court has declined to issue an interim order to halt the appointment process of the chairman of the Nepal Telecommunications Authority (NTA), thereby allowing the government to proceed with the selection process. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">SC justices Sushmalata Mathema and Nahakul Subedi rejected the petition demanding a stay order, thereby enabling the government to continue the appointment process for the NTA chairman.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">According to the Nepal Telecommunications Act of 2053, candidates for the post of chairman of the NTA must have held a first-class or higher position in the governmental or institutional hierarchy and possess expertise and experience in technical, administrative, market management, financial, or legal sectors related to telecommunications services.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">This eligibility criterion faced objections from advocates Anant Raj Luitel, Pratibha Upreti, and Bishal Thapa, who filed a writ petition in the Supreme Court, arguing that it discriminates against individuals from the private sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Despite these objections, the Supreme Court's decision on Monday has cleared the way for the government to proceed with the NTA chairman appointment process.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19967', 'image' => '20240213123922_Supreme Court.jpg', 'article_date' => '2024-02-13 12:38:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20239', 'article_category_id' => '1', 'title' => 'Over 20 Percent of the Population in Nepal Lives Below the Poverty Line', 'sub_title' => '', 'summary' => 'February 13: The latest Nepal Living Standards Survey has revealed that 20.27 percent of the population in Nepal is living below the poverty line.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 13: The latest Nepal Living Standards Survey has revealed that 20.27 percent of the population in Nepal is living below the poverty line. The incidence of poverty is more prevalent in rural areas (24.66 percent) compared to urban areas (18.34 percent). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Releasing the Nepal Living Standard Survey (NLSS) 2079-080 on Monday, the NSO said that the country's poverty rate could not decrease as expected due to the Gorkha Earthquake in 2015 and the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the official poverty line for the year 2022/23, an individual in Nepal is deemed poor if their annual per capita total consumption expenditure falls below Rs 72,908.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey indicates significant disparity in poverty incidence across the seven provinces and the 15 administrative domains. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Four out of the seven provinces exhibit poverty rates higher than the national average. Sudurpashchim province has the highest poverty rate at 34.16 percent, followed by Karnali (26.69 percent), Lumbini (24.35 percent), and Madhesh (22.53 percent). Conversely, Gandaki, Bagmati, and Koshi provinces have rates lower than the national average at 11.88 percent, 12.59 percent, and 17.19 percent, respectively.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19966', 'image' => '20240213115413_poverty.jpg', 'article_date' => '2024-02-13 11:53:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20238', 'article_category_id' => '1', 'title' => 'Government Trims Budget Size by 13 Percent', 'sub_title' => '', 'summary' => 'February 13: The government downsized the budget on Monday, giving continuity to the trend of initially presenting a sizable budget followed by adjustments through the mid-term review.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 13: The government downsized the budget on Monday, giving continuity to the trend of initially presenting a sizable budget followed by adjustments through the mid-term review.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Ministry of Finance has recalibrated the size of the current fiscal year's budget by approximately 13 percent through the mid-term review of the budget announced for FY 2023/24.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Earlier on May 29, Finance Minister Dr Prakash Sharan Mahat had unveiled a budget of Rs 1,751.31 billion. However, in the mid-term review, Finance Minister Mahat announced that the budget has been reduced to Rs 1,530.26 billion, marking a reduction of Rs 221 billion. The revised estimate accounts for 87.38 percent of the initially allocated budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, the government has downscaled the budget for recurrent expenditure from Rs 1,141.78 billion to Rs 1,007.45 billion. Similarly, the budget for capital expenditure has been revised to Rs 254.13 billion from Rs 302.07 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has also revised the revenue collection target to Rs 1309 billion from Rs 1422 billion. Finance Minister Mahat said that the government expects to receive foreign grants worth Rs 40.12 billion instead of the previously estimated grants of Rs 49.94 billion. The government has also reduced the projected foreign loans from Rs 212.75 billion to Rs 180.83 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Spending in national pride projects remain poor</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The mid-term review of budget has admitted the sluggish progress in the construction of large infrastructure projects, designated as national pride projects. Despite an allocation of Rs 65.64 billion for these endeavors, a mere Rs 15.55 billion has been utilized in the first half of the current fiscal year. This lackluster expenditure on national pride projects has contributed to an overall capital expenditure of only Rs 50.44 billion by mid-January 2024, representing a meager 16.70 percent of the total allocation.</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 latest data from the Financial Comptroller General Office (FCGO), only 39 percent of the total budget has been expended by the end of the first seven months of this fiscal year. Furthermore, out of this expenditure, the capital expenditure earmarked for development comprises only 21 percent of the annual target, indicating a substantial lag in spending in this critical area.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19965', 'image' => '20240213111920_budget.jpg', 'article_date' => '2024-02-13 11:18:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20237', 'article_category_id' => '1', 'title' => 'Annual Nominal Household Consumption Expenditure up by 66.23 Percent', 'sub_title' => '', 'summary' => 'February 13: The Nepal Living Standards Survey has shown that yearly spatially and temporally adjusted per capita consumption expenditures have surged by 66 percent, rising from Rs 75,902 to Rs 126,172 in real terms between 2011 and 2023.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">February 13: The Nepal Living Standards Survey has shown that yearly spatially and temporally adjusted per capita consumption expenditures have surged by 66 percent, rising from Rs 75,902 to Rs 126,172 in real terms between 2011 and 2023. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Over the same period, the proportion of non-food spending has escalated from an average of 38 percent to 47 percent. Moreover, the distribution of food expenditures has undergone a transformation since the previous NLSS, shifting away from cereals, which provide relatively inexpensive calories, towards more nutritious diets characterized by a greater allocation of spending on fruits, nuts, and meats, albeit these being more costly calorie sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">When it comes to nominal household consumption expenditure, Kathmandu Valley leads with an annual average of Rs 263,318. Following closely, urban areas of Gandaki Province records the second highest expenditure at Rs 176,542 per year, representing 67 percent of that in Kathmandu Valley. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Conversely, the lowest average annual nominal per capita expenditures are observed in rural areas of Madhesh and Sudurpaschim provinces at Rs 71,828 and Rs 72,861 per person per year, respectively.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19964', 'image' => '20240213105500_foodbasket.jpg', 'article_date' => '2024-02-13 10:51:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 14: Nepal Rastra Bank, which failed to implement the interest rate corridor since the beginning of the current fiscal year, announced the 'Standing Deposit Facility' tool on Tuesday. The officials of the central bank claim that the short-term interest rate can be kept within the limits of the corridor by allowing banks and financial institutions to deposit whatever amount they have in the form of excess liquidity in the central bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Under the Standing Deposit Facility, the banks can deposit whatever amount of excess liquidity they have in the central bank," said the executive director of Nepal Rashtra Bank. Prakash Kumar Shrestha, adding, “This facility helps manage liquidity and maintain the interest rate within the limits of the corridor.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank had announced in the monetary policy of the current fiscal year that it will provide the Standing Deposit Facility if the weighted average of interbank interest rate falls below the deposit collection rate under the interest rate corridor. In order to implement the announcement, the central bank has amended the regulations and procedures related to open market transactions and made arrangements to provide Standing Liquidity Facility from mid-February.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, the fixed the deposit collection rate of the central bank is 3 percent. Banks will be allowed to deposit excess liquidity with the Nepal Rashtra Bank at an interest rate of 3 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former banker Parshuram Kunwar Chhetri says that Standing Deposit Facility will help implement the interest rate corridor. "It is an attractive investment for banks to keep deposits in the central bank at 3 percent interest rate," he said, "This makes it easier to manage liquidity and implement the interest rate corridor." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The interbank interest rate has started falling below the target limit since mid-September of the current fiscal year. Even when the interbank interest rate fell below the limit, the central bank did not issue any monetary instrument to increase it till mid-November. After mid-November, deposit collection instruments were released in a hurry, but the interest rate was being kept within the limits of the corridor.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In order to implement the interest rate corridor effectively, the NRB has also implemented the 'Interest Rate Corridor Procedure 2076'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the procedure, the upper limit of the bank rate and the lower limit of the deposit collection rate should be set and the interbank interest rate should be kept in between. For this purpose, Nepal Rastra Bank has a provision to use various monetary instruments for liquidity flow and mopping of excess of liquidity. In the current fiscal year, the central bank has collected more than Rs 550 billion through deposit collection tools.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19981', 'image' => '20240214030623_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-14 15:05:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20253', 'article_category_id' => '1', 'title' => 'Net Profit of Listed Hotels Up due to Increase in Arrival of Tourists', 'sub_title' => '', 'summary' => 'February 14: Six companies of the hotel and tourism group are listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 14: Six companies of the hotel and tourism group are listed in Nepal Stock Exchange Limited (NEPSE), the secondary market of securities. Among them, the net profit of five companies up to the second quarter of the current fiscal year has increased compared to the same period of the previous year. The net profits of Soaltee Hotel, Taragaon Regency Hotels, Chandragiri Hills Limited, Oriental Hotels Limited and Kalinchok Darshan have increased in the review period.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">City Hotel faced a loss of Rs 117.9 million in the second quarter of the current fiscal year. Even in the second quarter of last fiscal year, City Hotel had registered a loss of Rs 132.4 million. Compared to the previous year, the loss of City Hotel is less this year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The profits of the hotel and tourism groups have increased due to the increase in arrival of tourists after the coronavirus pandemic subsided.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the data of Nepal Tourism Board, 1,014,876 foreign tourists entered Nepal via the air route in 2023. This figure is 400, 000 more than in 2022. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Soaltee Hotel earned the highest profit of Rs 263.11 million among the companies under the hotel and tourism group listed in NEPSE.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">This profit is 4.64 percent higher than the profit in the second quarter of last year. Soaltee Hotel earned more than Rs 1.5 billion in the second quarter of the current fiscal year. Last year, the income of this hotel was Rs 960.1 million. Recently, the income has increased due to the increase in the arrival of foreign tourists, reads the financial statement released by the hotel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The profit of Taragaon Regency Hotels has increased by 71 percent compared to the second quarter of last year, the highest among all in the group. Taragaon Regency, which made a profit of Rs 100.61 million in the second quarter last year, has made a profit of Rs 181.6 million during the same period of this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the profit of Oriental Hotels increased by 46.24 percent in the second quarter of the current fiscal year compared to the second quarter of last fiscal year. Oriental made a profit of Rs 36.5 million in the second quarter of last year, but this year it increased to Rs 53.4 million. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, the profit of Chandragiri Hills Limited till the second quarter has reached Rs 62.8 million. This is 22 percent more than the same period last year. Last year, the company's profit up to the second quarter was Rs 51.4 million.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Kalinchok Darshan Limited which made a profit of 6.47 million in the second quarter of last year, made a profit of Rs 6.43 million in the second quarter of the current fiscal year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-16', 'keywords' => '', 'description' => '', 'sortorder' => '19980', 'image' => '20240214022543_Hotel.jpg', 'article_date' => '2024-02-14 14:24:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20252', 'article_category_id' => '1', 'title' => 'Eighty-Nine People held on Charge of Human Trafficking in Six Months ', 'sub_title' => '', 'summary' => 'February 14: Nepal Police has arrested 89 people for their alleged involvement in human trafficking in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 14: Nepal Police has arrested 89 people for their alleged involvement in human trafficking in the first six months of the current fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the police, they have apprehended 67 men and 22 women from July 17, 2023 to January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Babarmahal-based Anti Human Trafficking Investigation Bureau has been working as a specialized unit of the Nepal Police for the prevention and control of crimes related to human trafficking. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bureau said 236 persons have been rescued from being trafficked in the review period. Among those rescued, 150 are women, 26 are men and 60 are girls. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is one of the most affected countries from both internal and cross-border human trafficking. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Inspector General Bhim Prasad Dhakal, spokesperson for Nepal Police, said a large number of Nepalis fall victim to human trafficking due to the allurement of employment or illegal settlement in various countries, including in India, Malaysia, Qatar, Saudi Arabia, Libya, Bahrain, Kuwait, the United Arab Emirates, America and different European and African nations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Nepal Police has provided character certificates to 550,060 individuals via online in the last seven months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said, 710,944 Nepalis and foreign nationals had submitted online applications seeking Police Report (character certificate) from Nepal Police during that period. Of these applications, 144,212 were canceled while 16,672 applications are being processed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Criminal Record System Section at the Police Headquarters carries out works related to police report. This section falls under the Department of Crime Investigation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department’s chief, Additional Inspector General Tek Bahadur Tamang, said the police report is provided within five days of receiving the application. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19979', 'image' => '20240214010011_human traficking.jpg', 'article_date' => '2024-02-14 12:59:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20251', 'article_category_id' => '1', 'title' => 'License of Nine Hydropower Projects Likely to be Revoked due to Obstruction from Protected Areas', 'sub_title' => '', 'summary' => 'February 14: The permits of nine hydropower projects with a capacity of 461 megawatts are on the verge of being revoked due to their failure to get consent for survey from national parks and various protected areas.', '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:"mukta","serif"">February 14: The permits of nine hydropower projects with a capacity of 461 megawatts are on the verge of being revoked due to their failure to get consent for survey from national parks and various protected areas. </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:"mukta","serif"">Those hydropower companies have already paid millions of rupees in royalties and have also received survey license from the Ministry of Energy. However, the national parks and conservation areas under the Ministry of Forests and Environment have not given their consent for the survey of the hydropower projects. As a result, their license is likely to be revoked.</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:"mukta","serif"">A team of promoters of the projects affected by the protected areas, under the leadership of Ganesh Karki, the president of the Independent Power Producers Association, Nepal (IPPAN), met Secretary of the Ministry of Forests and Environment Dr Deepak Kharal on Monday and urged him to take initiative to resolve the problems faced by these projects.</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:"mukta","serif"">The promoters said that their permits will expire after three months if the Ministry of Forests and Environment does not give its consent to conduct the survey. Therefore, they requested Forest Secretary Dr Kharal bail them out by giving permission immediately to carry out the survey of the projects.</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:"mukta","serif"">IPPAN President Karki also requested Secretary Kharal to recommend to the Ministry of Energy to extend the deadline of the permits of the affected projects by two years, as the deadline of the survey license is about to expire due to the non-cooperation from the national parks and protected areas.</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:"mukta","serif"">The promoters of hydropower projects argued that they have been paying millions of rupees as royalties to the government every year since the Ministry of Energy granted then survey license five years ago. Since the non-cooperation from the national parks is likely to waste their investment, the private sector energy promoters requested Dr Kharal to take a secretary-level decision to grant them permission for survey.</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:"mukta","serif"">Promoter Sitaram Timalsina said that it is not fair to threaten to arrest the promoters just because the park officials are not satisfied with certain provisions.</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:"mukta","serif"">"They have threaten us that they will come to our houses at night and arrest us. They insist that all three generations of our family must attend the meeting fixed by them," Timalsina told the forest secretary, adding, "We are building hydropower projects. We are engaged in a campaign to make the country prosperous. It's not like smuggling.”</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:"mukta","serif"">Bharat Parajuli, the promoter of the Lagang river (Brahmaani A) hydropower project, said that it is sad that the park officials treat tree smugglers and hydropower promoters in the same way. </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:"mukta","serif"">"We feel like we are insulted. They are threatening to imprison people who are engaged in the campaign to make the country prosperous," Parajuli said, "If there is a weakness, let's correct it. We build hydropower. That’s not a crime.”</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:"mukta","serif"">Businessmen complained that the national parks did not give them permission to expand the capacity of the projects. They argued that the park officials are not ready to give them permission to increase the capacity of hydropower projects from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif""> megawatts to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif""> megawatts without cutting more trees in the forest and without adding any new structures.</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:"mukta","serif""> They demanded revising the procedure for releasing water in the protected areas under the Procedure for Providing Land for Construction of Physical Infrastructure in Protected Areas </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span><span style="font-size:15.0pt"><span style="font-family:"mukta","serif"">. They argued that the new provision of releasing water in cumec instead of cusec will affect many hydropower projects and therefore urged to reverse it to the previous provision.</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:"mukta","serif"">Secretary Dr. Kharal assured the delegation that he would do all he can to address their problems including recommendation for two-year term extension.</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:"mukta","serif"">The government has started the process of improving its policies through reforms in the legal system to create a conducive environment for investment in the country ahead of the Third Investment Summit scheduled for late April.</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:"mukta","serif"">However, the draft submitted by a task force for law reforms, mentions that hydropower projects need to plant ten times more trees if they require to cut trees in national forests and protected areas. There was no such provisions until now, say the promoters.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19978', 'image' => '20240214112413_hydro.jpg', 'article_date' => '2024-02-14 11:23:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20250', 'article_category_id' => '1', 'title' => 'Possibility of Light Rain and Snowfall Today ', 'sub_title' => '', 'summary' => 'February 14: Meteorological Forecasting Division has predicted light rainfall at one or two places of Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 14: Meteorological Forecasting Division has predicted light rainfall at one or two places of Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today, and light snowfall at a few places of the high-hill and mountainous region of the country.</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"">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, the weather across the country at present is partly to generally cloudy due to the partial influence of the Westerly Winds.</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"">The division said that the weather will remain partly to generally cloudy in Koshi, Madhes, Bagmati, Gandaki, Lumbini and Karnali provinces today afternoon while it will remain partially to mainly fair in the Sudurpaschim province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the division in its daily bulletin said that there is possibility of light rain at one or two places of Koshi province tonight. Likewise, there are chances of light snowfall at a few places of the high-hill and mountainous region of Koshi, Bagmati and Gandaki provinces tonight. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19977', 'image' => '20240214101003_2024011511040359_DSC_2752.jpg', 'article_date' => '2024-02-14 10:09:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20249', 'article_category_id' => '1', 'title' => 'Basanta Panchami Being Observed Across the Country', 'sub_title' => '', 'summary' => 'Basanta Panchami is being celebrated all over the country by paying homage to Goddess Saraswati, known as the goddess of knowledge. Also known as Saraswati Pooja, writers, artists, journalists, teachers and students worship their tools, pen, paper, pencil and musical instruments as goddess Saraswati. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">February 14: Basanta Panchami is being celebrated all over the country by paying homage to Goddess Saraswati, known as the goddess of knowledge. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Also known as Saraswati Pooja, writers, artists, journalists, teachers and students worship their tools, pen, paper, pencil and musical instruments as goddess Saraswati. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">There is also a belief that you will blessed if you begin your learning after worshiping Saraswati. The day is also regarded as auspicious for social and religious functions like marriage, bratabanda, gufa and belbibaha. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">It is considered auspicious to start education for children and to pierce their nose and ears. Devotees, especially students, throng the temples of Goddess Saraswati since early morning today. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, in a message of best wishes on the occasion, President Ram Chandra Paudel said that Saraswati Pooja is a festival that always energizes life and inspires new discoveries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">President Paudel expressed his confidence that this day would inspire learners for acquiring education and fulfillment of knowledge. He extended his best wishes to all Nepalis brothers, sisters and children at home and abroad on the occasion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Stating that Goddess Saraswati is extolled as the Goddess of education, knowledge and music, Paudel said that it is believed that if the children are enrolled in the school on auspicious day, Goddess Saraswati is always benevolent to the learners and students.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Head of the State in his message said, "Basanta Panchami has been considered the major day for the music connoisseurs to worship. Today is considered auspicious day for those willing to venture out on a new endeavor or to perform marriage ceremonies and other religious functions."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">He also extended his best wishes that may Goddess Saraswati's blessings be on all Nepalis and may this festival inspire to maintain unity amid social and cultural diversity of the country as well as to conserve unique religious and cultures. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Stating that today is also celebrated as Saraswati Janmostav, the birthday of Goddess Saraswati, the President said that today marks the beginning of the spring seasons and the sun's path gradually drifts to northwards, causing longer days and shorter nights henceforth indicating the affinity between nature and the lives of Nepalis people. (RSS) </span></span></p> ', 'published' => true, 'created' => '2024-02-14', 'modified' => '2024-02-14', 'keywords' => '', 'description' => '', 'sortorder' => '19976', 'image' => '20240214062305_collage (32).jpg', 'article_date' => '2024-02-14 06:21:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20248', 'article_category_id' => '1', 'title' => 'UN Recognizes Terai Arc Landscape as World Restoration Flagship ', 'sub_title' => '', 'summary' => 'February 13: The United Nations has recognized the Terai Arc Landscape (TAL) as one of the seven UN World Restoration Flagships to honour the best examples of large-scale and long term ecosystem restoration in any country or region.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">February 13: The United Nations has recognized the Terai Arc Landscape (TAL) as one of the seven UN World Restoration Flagships to honour the best examples of large-scale and long term ecosystem restoration in any country or region.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The UN made the announcement on Tuesday as part of the UN Decade on Ecosystem Restoration in Nairobi, Kenya. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Department of Forests and Soil Conservation, the Department of National Wildlife and Conservation and the World Wildlife Fund (WWF) organized a joint press conference on Tuesday and shared this information. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"This exceptional conservation outcome has been possible under the leadership of the government, stewardship of the communities and engagement of the civil society. This collaborative effort has helped protect and restore forests, increase species population, enhance ecosystem services and trans-border corridor functionality. This has garnered international recognition, positioning the Terai Arc Landscape as a pioneer in implementing landscape-level conservation practices worldwide,” the WWF said in a press statement. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the United Nations Environment Programme, the Terai Arc Landscape initiative aims to protect a biodiversity hotspot shared by India and Nepal that was rapidly degrading.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Terai Arc Landscape stretches over 900 kilometres from the Bagmati river in the east to the Yamuna river of India in the west. In Nepal, the area extends from the Bagmati river in the east to the Mahakali river in the west covering six protected areas, four forest conservation areas, three wetland areas and several critical corridors. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On Nepal’s side alone, more than 7.5 million people and a plethora of wildlife – tigers, rhinos, elephants, black bucks, buffaloes, crocodiles, and birds – depend on the vast Terai Arc Landscape, stretching across 2.47 million hectares, added the UN.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the WWF, the Terai Arc Landscape envisions a globally unique landscape where biodiversity is conserved, ecological integrity is safeguarded, and the socio-economic well-being of the people is secured. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The program has also benefitted the local community through nature-based tourism, home stays, green enterprises, and many other initiatives through the engagement of local community members, community forest users, buffer zone communities, community-based anti-poaching units, citizen scientists and forest watchers. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nepal will be honoured for the achievement on February 27. Minister for Forests and Environment Birendra Prasad Mahato is scheduled to visit Nairobi representing the government. (With inputs from RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19975', 'image' => '20240213090726_20210729013117_20150914111210_chitwan.jpg', 'article_date' => '2024-02-13 21:06:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20247', 'article_category_id' => '1', 'title' => 'NEPSE Slumps by 30.56 Points, Closing at 2070.59', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) witnessed a decline of 30.56 points or 1.45%, closing at 2070.59 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 13: The Nepal Stock Exchange (NEPSE) witnessed a decline of 30.56 points or 1.45%, closing at 2070.59 on the third trading day of the week on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Market experts and investors attributed today’s loss to the half-yearly review of monetary policy released by the Nepal Rastra Bank. "The market tumbled today due to the loss of confidence in the central bank among investors," said one investor. The central bank did not make any changes regarding the share market in its half-yearly review.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 305 scrips were traded on the NEPSE through 82,899 transactions. A total of 12,165,202 shares changed hands, resulting in a total turnover of Rs 4.66 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Himalayan Reinsurance Limited (HRL) led the turnover with transactions of shares worth Rs 32 crores. Bottlers Nepal Limited (BNL), Samaj Laghubitta Bittiya Sanstha (SAMAJ), and Super Mai Hydropower Limited (SMH) each saw a gain of 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> On the contrary, Gurans Laghubitta Bittiya Sanstha Limited (GLBSL) incurred the highest loss at 9.70%, closing at a market price of Rs 979 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the red territory. The Others Index lost 2.27%, while the Finance Index dropped by 2.20%. The HydroPower Index and Trading Index lost 0.58% and 0.52%, respectively.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19974', 'image' => '20240213035423_collage (9).jpg', 'article_date' => '2024-02-13 15:52:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '20246', 'article_category_id' => '1', 'title' => 'Government Plans Labour Agreement with Saudi Arabia', 'sub_title' => '', 'summary' => 'February 13: The government is on the verge of finalizing a bilateral labour agreement with Saudi Arabia within a month.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 13: The government is on the verge of finalizing a bilateral labour agreement with Saudi Arabia within a month. This significant development comes following discussions between Minister for Labour, Employment, and Social Security, Sharat Singh Bhandari, and Saudi Arabia’s Minister for Human Resources and Social Development, Ahmad bin Sulaiman AlRajhi, during the Abu Dhabi Dialogue in the UAE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Rajiv Pokhrel, spokesperson for the Labour Ministry, revealed that Nepal proposed the labour agreement with Saudi officials during a sideline meeting, which was met with acceptance by the Saudi government. Pokhrel further elaborated that Saudi Arabia has pledged to conclude the labour agreement with Nepal after addressing certain considerations. Notably, Nepal has been diligently preparing for the labour agreement with Saudi Arabia for the past eight years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite the influx of unskilled Nepali workers to Saudi Arabia, concerns persist regarding the lack of guaranteed rights of Nepali workers. Although discussions regarding the labour agreement have taken place on numerous occasions between Nepal and Saudi authorities, reaching an agreement has been hindered by Saudi Arabia's insistence on formulating separate agreements for domestic workers alongside general workers.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19973', 'image' => '20240213031257_saudi.jpg', 'article_date' => '2024-02-13 15:12:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20244', 'article_category_id' => '1', 'title' => 'IMF Team Finds Investment-Friendly Environment in Nepal's Energy Sector ', 'sub_title' => '', 'summary' => 'February 13: A delegation from the International Monetary Fund (IMF) has found investment-friendly environment in the energy infrastructure sector of Nepal despite various challenges in the country's economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 13: A delegation from the International Monetary Fund (IMF) has found investment-friendly environment in the energy infrastructure sector of Nepal despite various challenges in the country's economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IMF staff team, led by Tidiane Kinda, conducted a staff visit to Nepal from February 5-12 to discuss recent macroeconomic developments and the implementation of the Fund-supported programme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Nepal’s external position continues to strengthen on the back of buoyant remittances, increasing tourism activity, subdued imports, and decline in inflation. Weak domestic demand, large outward migration, and low credit growth despite monetary relaxation continue to weigh on near-term economic growth,” team leader Kinda said in a press note issued on conclusion of their visit on Monday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The IMF team suggested that enhancing domestic revenue mobilization and accelerating the execution of capital expenditure will provide needed support to growth while securing fiscal sustainability. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Increased vigilance on banks’ asset quality and stepped-up supervisory efforts are important to preserve financial stability in view of growing non-performing loans, added the statement.</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 IMF delegation, the medium-term economic outlook of Nepal remains favorable, as strategic investments in infrastructure, especially in the energy sector, are expected to support potential growth. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The upcoming Investment Summit presents an opportunity to showcase Nepal’s economic potential, said the team, adding, “Timely reforms to durably improve the investment climate will help take full advantage of the summit and pave the way to stronger growth in the future.” </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The visiting delegation welcomed the government authorities’ ongoing efforts in meeting key commitments under the International Monetary Fund-supported programme, with the support of IMF’s technical assistance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Performance under the programme will be formally assessed in the context of the fourth review of the Extended Credit Facility, which is expected to take place in the middle of the year, states the press note. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Deputy Director of the IMF’s Asia and Pacific Department, Gulde-Wolf, attended key meetings. The IMF team held meetings with the Finance Minister Dr Prakash Sharan Mahat, Nepal Rastra Bank’s Governor Maha Prasad Adhikari, the National Planning Commission’s Vice-Chairman Dr Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19971', 'image' => '20240213022233_hydro.jpg', 'article_date' => '2024-02-13 14:21:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20241', 'article_category_id' => '1', 'title' => 'NRB Unveils Mid-Term Review of Monetary Policy', 'sub_title' => 'Interest for institutional fixed deposit should be less than individual fixed deposits by one percentage point ', 'summary' => 'February 13: Nepal Rastra Bank has made public the details of the mid-term review of the monetary policy of the current financial year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 13: Nepal Rastra Bank has made public the details of the mid-term review of the monetary policy of the current financial year. Based on the review, the central bank has made new arrangements for the implementation of the interest rate of fixed deposits and the interest rate 'corridor'. </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"">"To make the interest rate corridor effective, the fixed deposit facility will be implemented from mid-February,” states the mid-term review of the monetary policy, adding, "The interest rate of institutional fixed deposits will be arranged in such a way that it can be fixed by making it one percentage point lower than the interest rate provided for individual fixed deposits." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, loans up to Rs 20 million provided to agricultural, small, cottage and medium-scale enterprises will be allowed to be counted in the 'Regulatory Retail Portfolio'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In view of the internal and external situations and scenario of the economy and the policy arrangements made during the first quarterly review, the rates under the interest rate corridor have been kept unchanged. Provisions related to mandatory cash reserve ratio and statutory liquidity ratio have been given continuity. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19968', 'image' => '20240213010750_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-02-13 13:06:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20240', 'article_category_id' => '1', 'title' => 'NTA Chairman Appointment Process to Proceed as SC Refuses Interim Order', 'sub_title' => '', 'summary' => 'February 13: The Supreme Court has declined to issue an interim order to halt the appointment process of the chairman of the Nepal Telecommunications Authority (NTA), thereby allowing the government to proceed with the selection process.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">February 13: The Supreme Court has declined to issue an interim order to halt the appointment process of the chairman of the Nepal Telecommunications Authority (NTA), thereby allowing the government to proceed with the selection process. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">SC justices Sushmalata Mathema and Nahakul Subedi rejected the petition demanding a stay order, thereby enabling the government to continue the appointment process for the NTA chairman.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">According to the Nepal Telecommunications Act of 2053, candidates for the post of chairman of the NTA must have held a first-class or higher position in the governmental or institutional hierarchy and possess expertise and experience in technical, administrative, market management, financial, or legal sectors related to telecommunications services.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">This eligibility criterion faced objections from advocates Anant Raj Luitel, Pratibha Upreti, and Bishal Thapa, who filed a writ petition in the Supreme Court, arguing that it discriminates against individuals from the private sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Despite these objections, the Supreme Court's decision on Monday has cleared the way for the government to proceed with the NTA chairman appointment process.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19967', 'image' => '20240213123922_Supreme Court.jpg', 'article_date' => '2024-02-13 12:38:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20239', 'article_category_id' => '1', 'title' => 'Over 20 Percent of the Population in Nepal Lives Below the Poverty Line', 'sub_title' => '', 'summary' => 'February 13: The latest Nepal Living Standards Survey has revealed that 20.27 percent of the population in Nepal is living below the poverty line.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 13: The latest Nepal Living Standards Survey has revealed that 20.27 percent of the population in Nepal is living below the poverty line. The incidence of poverty is more prevalent in rural areas (24.66 percent) compared to urban areas (18.34 percent). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Releasing the Nepal Living Standard Survey (NLSS) 2079-080 on Monday, the NSO said that the country's poverty rate could not decrease as expected due to the Gorkha Earthquake in 2015 and the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the official poverty line for the year 2022/23, an individual in Nepal is deemed poor if their annual per capita total consumption expenditure falls below Rs 72,908.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey indicates significant disparity in poverty incidence across the seven provinces and the 15 administrative domains. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Four out of the seven provinces exhibit poverty rates higher than the national average. Sudurpashchim province has the highest poverty rate at 34.16 percent, followed by Karnali (26.69 percent), Lumbini (24.35 percent), and Madhesh (22.53 percent). Conversely, Gandaki, Bagmati, and Koshi provinces have rates lower than the national average at 11.88 percent, 12.59 percent, and 17.19 percent, respectively.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19966', 'image' => '20240213115413_poverty.jpg', 'article_date' => '2024-02-13 11:53:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20238', 'article_category_id' => '1', 'title' => 'Government Trims Budget Size by 13 Percent', 'sub_title' => '', 'summary' => 'February 13: The government downsized the budget on Monday, giving continuity to the trend of initially presenting a sizable budget followed by adjustments through the mid-term review.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 13: The government downsized the budget on Monday, giving continuity to the trend of initially presenting a sizable budget followed by adjustments through the mid-term review.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Ministry of Finance has recalibrated the size of the current fiscal year's budget by approximately 13 percent through the mid-term review of the budget announced for FY 2023/24.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Earlier on May 29, Finance Minister Dr Prakash Sharan Mahat had unveiled a budget of Rs 1,751.31 billion. However, in the mid-term review, Finance Minister Mahat announced that the budget has been reduced to Rs 1,530.26 billion, marking a reduction of Rs 221 billion. The revised estimate accounts for 87.38 percent of the initially allocated budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, the government has downscaled the budget for recurrent expenditure from Rs 1,141.78 billion to Rs 1,007.45 billion. Similarly, the budget for capital expenditure has been revised to Rs 254.13 billion from Rs 302.07 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government has also revised the revenue collection target to Rs 1309 billion from Rs 1422 billion. Finance Minister Mahat said that the government expects to receive foreign grants worth Rs 40.12 billion instead of the previously estimated grants of Rs 49.94 billion. The government has also reduced the projected foreign loans from Rs 212.75 billion to Rs 180.83 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Spending in national pride projects remain poor</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The mid-term review of budget has admitted the sluggish progress in the construction of large infrastructure projects, designated as national pride projects. Despite an allocation of Rs 65.64 billion for these endeavors, a mere Rs 15.55 billion has been utilized in the first half of the current fiscal year. This lackluster expenditure on national pride projects has contributed to an overall capital expenditure of only Rs 50.44 billion by mid-January 2024, representing a meager 16.70 percent of the total allocation.</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 latest data from the Financial Comptroller General Office (FCGO), only 39 percent of the total budget has been expended by the end of the first seven months of this fiscal year. Furthermore, out of this expenditure, the capital expenditure earmarked for development comprises only 21 percent of the annual target, indicating a substantial lag in spending in this critical area.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19965', 'image' => '20240213111920_budget.jpg', 'article_date' => '2024-02-13 11:18:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20237', 'article_category_id' => '1', 'title' => 'Annual Nominal Household Consumption Expenditure up by 66.23 Percent', 'sub_title' => '', 'summary' => 'February 13: The Nepal Living Standards Survey has shown that yearly spatially and temporally adjusted per capita consumption expenditures have surged by 66 percent, rising from Rs 75,902 to Rs 126,172 in real terms between 2011 and 2023.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">February 13: The Nepal Living Standards Survey has shown that yearly spatially and temporally adjusted per capita consumption expenditures have surged by 66 percent, rising from Rs 75,902 to Rs 126,172 in real terms between 2011 and 2023. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Over the same period, the proportion of non-food spending has escalated from an average of 38 percent to 47 percent. Moreover, the distribution of food expenditures has undergone a transformation since the previous NLSS, shifting away from cereals, which provide relatively inexpensive calories, towards more nutritious diets characterized by a greater allocation of spending on fruits, nuts, and meats, albeit these being more costly calorie sources.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">When it comes to nominal household consumption expenditure, Kathmandu Valley leads with an annual average of Rs 263,318. Following closely, urban areas of Gandaki Province records the second highest expenditure at Rs 176,542 per year, representing 67 percent of that in Kathmandu Valley. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt">Conversely, the lowest average annual nominal per capita expenditures are observed in rural areas of Madhesh and Sudurpaschim provinces at Rs 71,828 and Rs 72,861 per person per year, respectively.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-02-13', 'modified' => '2024-02-13', 'keywords' => '', 'description' => '', 'sortorder' => '19964', 'image' => '20240213105500_foodbasket.jpg', 'article_date' => '2024-02-13 10:51:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
