July 15: The training of procurement management, tax system and purchase management was given to the construction entrepreneurs of mid-western development region. The training was organised under the management of planning, research and development committee of Federation Contractors Association of Nepal…
July 15: Qatar Airways has won the World's Best Business Class title at 2016 Skytrax World Airline Awards held at Farnborough International Airshow in the United Kingdom.…
July 15: Sunrise Bank Ltd has acquired Narayani National Finance and has started joint transaction from July 15. Dr Chiranjibi Nepal, Governor of NRB inaugurated the joint transaction amid a program on…
July 15: Garima Bikas Bank, headquartered in Pokhara will merge with Subhechha Bikas Bank, headquartered in Narayanghat. The merger proposal was approved in the special general meeting of Garima Bikas Bank held on July…
July 15: Bank of Kathmandu (BOK) and Lumbini Bank have merged with each other and started operation with the name of Bank of Kathmandu Lumbini Ltd. After annual general meetings of both banks endorsed the merger proposal, they got the final approval for merger from Nepal Rastra Bank on July 8. The both banks…
July 15: NRB has addressed the issues raised by private sector through the monetary policy for the upcoming FY. Addressing the demand of private sector, NRB has increased the limit of multi-bank loans to be converted to consortium loans to 1 billion from Rs 500 million. Private sector had been dissatisfied on previous NRB directive of…
July 14: Nepal Rastra Bank (NRB) has unveiled the monetary policy for the upcoming FY 2016/17 in a bid to achieve targets announced by the government on the recent budget…
July 14: Shiva Traders of Birgunj, the authorised dealer of Able Perfect Sbn Bhd of Malaysia has launched 'Best Choice' cooking oil in the Nepali…
July 14: Jagadamba Motors held their Annual Dealer Conference 2016-17 with the slogan “Together We Grow Stronger” from 12th to 14th July in Kathmandu. The company unveiled five new products of TVS and conducted motivational training, informed about its plans for the future and the understanding of business. Shanker group’s Jagdamba Motors is the sole authorized distributor of TVS Motor Company in…
July 14: NRB which was preparing to bring monetary policy for the FY 2073/74 since last one week will be announcing it on Thursday. Dr Chiranjibi Nepal, Governor of the NRB will be broadcasting the monetary policy of the coming FY this…
July 14: The 19th annual general meeting (AGM) of Sagarmatha Insurance has endorsed the proposal of distributing 23.75 percent bonus share and 1.25 percent cash dividend for tax provision to its shareholders. The AGM was held under the chairmanship of Ram Krishna Manandhar, Chairman of the company at Trade Tower Nepal, Kathmandu on July…
July 14: Nabil Bank has celebrated its 32nd anniversary organising different programs on July 12. On the occasion, the commercial bank distributed various necessities like wheel chairs, water dispenser machines, and sports items to the physically and mentally disabled children and old aged people at Conflict Victim & Disabled Society-Nepal (CVDS-Nepal).…
July 14: LifeCom Pvt Ltd, the authorised distributor of Lenovo Smartphone for Nepal, has introduced four new models of Lenevo smart phone in the Nepali…
July 13: The government is making corporate social responsibility (CSR) mandatory for all types of industries. The bill formulated to amend and combine the acts of industrial enterprises has proposed mandatory allocation of particular amount from the total transaction of any industrial…
July 13: The Special General Meeting (SGM) of International Development Bank Limited (IDBL) has endorsed the proposed 1:0.73 swap ratio for the merger with Nepal Credit and Commerce, Infrastructure Development, Apex Development and Supreme…
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The training was organised under the management of planning, research and development committee of Federation Contractors Association of Nepal (FCAN).', 'content' => '<p style="text-align:justify">July 15: The training of procurement management, tax system and purchase management was given to the construction entrepreneurs of mid-western development region. The training was organised under the management of planning, research and development committee of Federation Contractors Association of Nepal (FCAN). The training was provided to 40 construction entrepreneurs in Nepalgunj on Thursday. Vice-President of FCAN, Rudra Sharma urged everyone to be sensitive to the problem faced by the entrepreneurs as the construction business was ruined due to earthquake and unofficial blockade by India.</p> <p style="text-align:justify">He said that the development of the country is impossible until the construction business is flourished. The participating entrepreneurs were trained by Bhim Khatiwada, Representative of Asian Development Bank, Narayan Subedi, chief tax officer of Internal Revenue Office, Nepalgunj, Dr. Ramhari Lamichhane, Member Secretary of Council for Technical Education and Vocational Training and Baburam Dahal, Legal Advisor of FCAN.</p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3816', 'image' => '20160715032741_cni.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3981', 'article_category_id' => '1', 'title' => 'Qatar Airways Bags Skytrax Best Business Class Airline Award', 'sub_title' => '', 'summary' => 'July 15: Qatar Airways has won the World's Best Business Class title at 2016 Skytrax World Airline Awards held at Farnborough International Airshow in the United Kingdom. T', 'content' => '<p style="text-align: justify;">July 15: Qatar Airways has won the World's Best Business Class title at 2016 Skytrax World Airline Awards held at Farnborough International Airshow in the United Kingdom. The airways was awarded as per the voting by air travelers. Similarly, the company was also entitled Best Business Class Airline Lounge and the Best Airline Staff Service in the Middle East.</p> <p style="text-align: justify;">Akbar Al Baker, Chief Executive of Qatar Airways Group said, “It is a very proud moment for Qatar Airways to be named World's Best Business Class, Best Business Class Airline Lounge and Best Airline Staff Service in the Middle East by the prestigious Skytrax World Airline Awards not only for myself, but for every individual at Qatar Airways who creates the passengers’ experience.”</p> <p style="text-align: justify;">“Our commitment to continued success is unwavering and a testament to the dedication of our global teams. The airline’s renowned service, modern aircraft and luxurious cabins, combined with an expanding global network, continue to set Qatar Airways apart from the competition,” he added.</p> <p style="text-align: justify;">The Skytrax World Airline Awards are widely known as the Passengers Choice Awards with millions of travelers, from 160 different countries, participating in passenger satisfaction surveys to decide the winners each year.</p> <p style="text-align: justify;"><img alt="" src="/userfiles/images/qatar%202.jpg" style="height:422px; width:650px" /></p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3814', 'image' => '20160715030338_qatar.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3980', 'article_category_id' => '1', 'title' => 'Sunrise Bank Acquired Narayani Finance', 'sub_title' => '', 'summary' => 'July 15: Sunrise Bank Ltd has acquired Narayani National Finance and has started joint transaction from July 15. Dr Chiranjibi Nepal, Governor of NRB inaugurated the joint transaction amid a program on Thursday.', 'content' => '<p style="text-align: justify;">July 15: Sunrise Bank Ltd has acquired Narayani National Finance and has started joint transaction from July 15. Dr Chiranjibi Nepal, Governor of NRB inaugurated the joint transaction amid a program on Thursday.</p> <p style="text-align: justify;">In the program, Laxmi Das Manadhar, Chairman of National Finance handed over the registration paper of the finance to Moti Lal Dugadh, Chairman of Sunrise Bank. The bank informed of starting joint transaction with separate programs in all the branches of the finance. On the occasion, Dr Nepal greeted the bank and expressed the belief that the bank will further strengthen its position in the financial market. </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3813', 'image' => '20160715012608_sunrise bank.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3979', 'article_category_id' => '1', 'title' => 'Subhechha Bikas Bank to Merge with Garima Bikas Bank', 'sub_title' => '', 'summary' => 'July 15: Garima Bikas Bank, headquartered in Pokhara will merge with Subhechha Bikas Bank, headquartered in Narayanghat. The merger proposal was approved in the special general meeting of Garima Bikas Bank held on July 14.', 'content' => '<p style="text-align: justify;">July 15: Garima Bikas Bank, headquartered in Pokhara will merge with Subhechha Bikas Bank, headquartered in Narayanghat. The merger proposal was approved in the special general meeting of Garima Bikas Bank held on July 14.</p> <p style="text-align: justify;">Garima is a national level bank whereas Subhechha is operating in three districts only. The paid-up capital of merged bank will be Rs 1.8 billion. Currently, the paid-up capitals of Garima and Subhechha are about Rs 850 million and Rs 220 million respectively. After merger, the bank will have one extension counter and 37 branches. Issuing a press statement, the banks informed that the share swap ratio of 1:1 has been decided and the bank will function in the name of Garima Bikas Bank. The SGM also approved to transfer the central office of the bank to Lazimpat, Kathmandu from Pokhara-9, Mahendrapool.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3812', 'image' => '20160715122234_garima.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3978', 'article_category_id' => '1', 'title' => 'Bank of Kathmandu Lumbini Starts Operation', 'sub_title' => '', 'summary' => 'July 15: Bank of Kathmandu (BOK) and Lumbini Bank have merged with each other and started operation with the name of Bank of Kathmandu Lumbini Ltd. After annual general meetings of both banks endorsed the merger proposal, they got the final approval for merger from Nepal Rastra Bank on July 8. The both banks ha', 'content' => '<p style="text-align: justify;">July 15: Bank of Kathmandu (BOK) and Lumbini Bank have merged with each other and started operation with the name of Bank of Kathmandu Lumbini Ltd. After annual general meetings of both banks endorsed the merger proposal, they got the final approval for merger from Nepal Rastra Bank on July 8. The both banks had signed the agreement paper and submitted the joint application to NRB last year for the merger. After merger, the paid-up capital of bank has reached Rs 4.57 billion. The share swap ratio of BOK and Lumbini bank was decided to 1:0.83 ratio.</p> <p style="text-align: justify;">Satya Narayan Manandhar, Chairman of BOK and Ajay Shrestha, CEO of BOK will be the Chairman and CEO of new entity too.</p> <p style="text-align: justify;">According to Manandhar, he aims to make the newly merged bank to the top 5 banks of Nepal. Speaking in the program, Chiranjivi Nepal, Governor of NRB suggested of investing in far-western region stating 60 percent people of the country are deprived from banking financial services. He added, "After merger, the bank has become more competitive and can show its presence in national level. Let’s utilise the investment opportunities inside the country."</p> <p style="text-align: justify;">After merger, the number of branches and ATMs has reached 74 and 63. Similarly, the bank has Rs 62 billion in deposits and loans of Rs 54 billion. </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3811', 'image' => '20160715115924_bok.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3977', 'article_category_id' => '1', 'title' => 'Private Sector Favourable Monetary Policy', 'sub_title' => '', 'summary' => 'July 15: NRB has addressed the issues raised by private sector through the monetary policy for the upcoming FY. Addressing the demand of private sector, NRB has increased the limit of multi-bank loans to be converted to consortium loans to 1 billion from Rs 500 million. Private sector had been dissatisfied on previous NRB directive of c', 'content' => '<p style="text-align:justify">July 15: NRB has addressed the issues raised by private sector through the monetary policy for the upcoming FY. Addressing the demand of private sector, NRB has increased the limit of multi-bank loans to be converted to consortium loans to 1 billion from Rs 500 million. Private sector had been dissatisfied on previous NRB directive of converting multi-bank loan of Rs 500 million to consortium loan.</p> <p style="text-align:justify">“We do not need to criticise monetary policy now. Our demands have been addressed,” said businessman Kamlesh Kumar Agrawal. Businessmen are pleased on fulfilled demand with no additional strategic mechanisms. NRB has also given concession to business sector on mandatory payment through cheque on transaction above Rs 5 million which has now reduced to Rs 3 million. Business sector believed that the provision will reduce the risk of cash economy and promote economy based on financial tools rather than based on cash.</p> <p style="text-align:justify"><strong>Tightened valuation of shares</strong></p> <p style="text-align:justify">NRB has tightened extension of loans on share collateral. Now onwards, banks can extend loans up to maximum of 50 percent of the total value of share based on the average price of the share in the last 180 days or prevailing market price whichever is less. The provision will certainly reduce the loan amount investors are getting right now on share collateral.</p> <p style="text-align:justify">“Investors were nervous on possible limitation NRB could set on loans provided by the banks. But as limit has been set on valuation of collateral, it might not have big effect,” said Anjan Raj Poudel, a share broker. As of mid-April, banks and financial institutions have extended less than 3 percent loans on the sector. However, NRB has sustained the same provision for BFIs on extending loans on share.</p> <p style="text-align:justify">NRB has also tightened real estate loans. The banks can issue real estate loans up to 50 percent of the total value of the collateral. Earlier, such limit was 60 percent. However, NRB has kept the provision of issuing residential house loan up to Rs 10 million constant. Presently, the banks can issue such loans up to 60 percent of the collateral.</p> <p style="text-align:justify"><strong>Investors of Microfinance disappointed</strong></p> <p style="text-align:justify">As expected by many share investors, the monetary policy has not formulated any mechanism for paid-up capital increment of microfinance companies. Investors were expecting 4 folds capital increment of national level microfinance companies and by 2 folds of other microfinance companies. However, NRB has increased minimum paid-up capital to Rs 600 million of the microfinance that provides retail loans by mid-July 2018. Based on the provision, only Sana Kishan Microfinance Company, RSDC, First Microfinance and RMDC have to increase their paid-up capital to Rs 600 million.</p> <p style="text-align:justify">Apart from this, the monetary policy has also set the spread rate limit for microfinance companies in a bid to control loan interest rate. Micro finance companies will have to maintain maximum of 7 percent spread rate on their capital expenditure for loan extension. According to the third quarter reports, the companies have only 3-8 percent capital expenditure. Based on this, the loan interest rate in microfinance companies will limit to 15-16 percent. Dharma Raj Pandey, Chairman of Nepal Microfinance Bankers Association said that the mechanism will affect the microfinance sector. Presently, microfinance companies are criticised for charging above 22 percent interest rate on loans.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3810', 'image' => '20160715113258_monetary_policy.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3976', 'article_category_id' => '1', 'title' => 'Monetary Policy for the Upcoming FY Unveiled', 'sub_title' => '', 'summary' => 'July 14: Nepal Rastra Bank (NRB) has unveiled the monetary policy for the upcoming FY 2016/17 in a bid to achieve targets announced by the government on the recent budget speech.', 'content' => '<p style="text-align:justify">July 14: Nepal Rastra Bank (NRB) has unveiled the monetary policy for the upcoming FY 2016/17 in a bid to achieve targets announced by the government on the recent budget speech.</p> <p style="text-align:justify">Dr Chiranjibi Nepal, Governor of NRB unveiled the monetary policy amid a program in the capital today.</p> <p style="text-align:justify">The monetary policy has aimed to limit inflation to 7.5 per cent. Similarly, it has targeted economic growth of 6.5 per cent for the upcoming FY. Likewise, it has predicted internal loan expansion of 25 percent and private sector’s loan extension of 20 percent. The monetary policy has extended time-period of maintaining mandatory cash reserve from one week to two week.</p> <p style="text-align:justify">For the first time, NRB has planned of implementing interest rate corridor through the monetary policy. The policy has prioritised flow of capital to various productive sectors including agriculture, energy, tourism, small and cottage industries as well as underprivileged population.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3809', 'image' => '20160714053032_20160714045421_fdsfsd.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3975', 'article_category_id' => '1', 'title' => 'Able Perfect's 'Best Choice' Cooking Oil in Market', 'sub_title' => '', 'summary' => 'July 14: Shiva Traders of Birgunj, the authorised dealer of Able Perfect Sbn Bhd of Malaysia has launched 'Best Choice' cooking oil in the Nepali market.', 'content' => '<p style="text-align: justify;">July 14: Shiva Traders of Birgunj, the authorised dealer of Able Perfect Sbn Bhd of Malaysia has launched 'Best Choice' cooking oil in the Nepali market.</p> <p style="text-align: justify;">According to Shiva Goyal, operator of the company, the company avails 15 litres packed tin of refined palmolein cooking oil in the market as well as in the package of one liter. The company informed of launching two liters of Sunflower oil in 'Choice' brand in the market before this. The products of Able Perfect are available in 93 countries across the world.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3808', 'image' => '20160714040405_20160714021709_Choice oil.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3974', 'article_category_id' => '1', 'title' => 'TVS Annual Dealer Conference', 'sub_title' => '', 'summary' => 'July 14: Jagadamba Motors held their Annual Dealer Conference 2016-17 with the slogan “Together We Grow Stronger” from 12th to 14th July in Kathmandu. The company unveiled five new products of TVS and conducted motivational training, informed about its plans for the future and the understanding of business. Shanker group’s Jagdamba Motors is the sole authorized distributor of TVS Motor Company in Nepal.', 'content' => '<p style="text-align: justify;">July 14: Jagadamba Motors held their Annual Dealer Conference 2016-17 with the slogan<em> “Together We Grow Stronger”</em> from 12<sup>th</sup> to 14<sup>th</sup> July in Kathmandu. The company unveiled five new products of TVS and conducted motivational training, informed about its plans for the future and the understanding of business. Shanker group’s Jagdamba Motors is the sole authorized distributor of TVS Motor Company in Nepal.</p> <p style="text-align: justify;">The company introduces 'TVS Wego' with Combi Brakes, 'TVS-Excel 100' ,TVS Dazz, TVS Victor and TVS King in the market.</p> <p style="text-align: justify;">The program was initiated by Shahil Agarwal, the Managing Director of Jagdamba Motors. Likewise the program was conducted in the presence of Auro Ashish Chaudary (General Manager), SP Krishna Kumar (AGM- Service) and Arun Kumar (AGM) of TVS Motor Company, India.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3807', 'image' => '20160714020743_tvs.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3973', 'article_category_id' => '1', 'title' => 'NRB Announcing Monetary Policy Today', 'sub_title' => '', 'summary' => 'July 14: NRB which was preparing to bring monetary policy for the FY 2073/74 since last one week will be announcing it on Thursday. Dr Chiranjibi Nepal, Governor of the NRB will be broadcasting the monetary policy of the coming FY this afternoon.', 'content' => '<p style="text-align:justify">July 14: NRB which was preparing to bring monetary policy for the FY 2073/74 since last one week will be announcing it on Thursday. Dr Chiranjibi Nepal, Governor of the NRB will be broadcasting the monetary policy of the coming FY this afternoon.</p> <p style="text-align:justify">Various remarks have been gathering in the financial sector regarding the monetary policy which has already been delayed. NRB will be formulating policies related with capital expansion of micro finance companies, mechanism regarding interest rate corridor, liquidity management and other issues. </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3806', 'image' => '20160714013421_20160714010300_NRB.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3972', 'article_category_id' => '1', 'title' => 'Sagarmatha Insurance to distribute 23.75 % bonus share', 'sub_title' => '', 'summary' => 'July 14: The 19th annual general meeting (AGM) of Sagarmatha Insurance has endorsed the proposal of distributing 23.75 percent bonus share and 1.25 percent cash dividend for tax provision to its shareholders. The AGM was held under the chairmanship of Ram Krishna Manandhar, Chairman of the company at Trade Tower Nepal, Kathmandu on July 12.', 'content' => '<p style="text-align: justify;">July 14: The 19<sup>th</sup> annual general meeting (AGM) of Sagarmatha Insurance has endorsed the proposal of distributing 23.75 percent bonus share and 1.25 percent cash dividend for tax provision to its shareholders. The AGM was held under the chairmanship of Ram Krishna Manandhar, Chairman of the company at Trade Tower Nepal, Kathmandu on July 12.</p> <p style="text-align: justify;">In the AGM, Manandhar presented the annual report of the FY 2071/72 that shows 5.13 percent increment in its total transaction during the year. According to the report, the company has earned Rs 1.02 billion premium and Rs 75 million net profit in the FY 2071/72.</p> <p style="text-align: justify;">Similarly, Manandhar informed of earning Rs 1.09 million insurance premium by the end of current FY. “A total of 3015 insurance claims have been made for compensation due to the devastating earthquake of last year. Among the claims, 2551 claims have been cleared compensating Rs 1.16 billion to the clients. Remaining claims are in process of clearing,” he informed.</p> <p style="text-align: justify;">Sagarmatha Insurance has been providing its services through 32 branches with the possible extension in the feasible region in upcoming days. </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3805', 'image' => '20160714121238_sagar.JPG', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3971', 'article_category_id' => '1', 'title' => 'Nabil Bank Marks 32nd Anniversary', 'sub_title' => '', 'summary' => 'July 14: Nabil Bank has celebrated its 32nd anniversary organising different programs on July 12. On the occasion, the commercial bank distributed various necessities like wheel chairs, water dispenser machines, and sports items to the physically and mentally disabled children and old aged people at Conflict Victim & Disabled Society-Nepal (CVDS-Nepal). ', 'content' => '<p style="text-align: justify;">July 14: Nabil Bank has celebrated its 32<sup>nd</sup> anniversary organising different programs on July 12. On the occasion, the commercial bank distributed various necessities like wheel chairs, water dispenser machines, and sports items to the physically and mentally disabled children and old aged people at Conflict Victim & Disabled Society-Nepal (CVDS-Nepal). Shambhu Prasad Poudel, Chairman of the bank, Dayaram Gopal Agrawal, Director and Ramesh Prasad Lohani, Assistant General Manager handed over the materials to the CVDS-Nepal.</p> <p style="text-align: justify;">Issuing a press statement the bank informed of undertaking various activities in various areas like education, science and technology, sports, health, art and literature under its corporate social responsibility. Currently, the bank provides financial services through 52 branches, 90 ATMs and more than 1400 Nabil remittance agents.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3804', 'image' => '20160714115741_nabil.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3970', 'article_category_id' => '1', 'title' => 'Lenovo Introduces 4 New Smartphone', 'sub_title' => '', 'summary' => 'July 14: LifeCom Pvt Ltd, the authorised distributor of Lenovo Smartphone for Nepal, has introduced four new models of Lenevo smart phone in the Nepali market.', 'content' => '<p style="text-align:justify">July 14: LifeCom Pvt Ltd, the authorised distributor of Lenovo Smartphone for Nepal, has introduced four new models of Lenevo smart phone in the Nepali market.</p> <p style="text-align:justify">Issuing a press statement, the company informed of launching lenovo smart phone models of Vibe K3 Note, Vibe K4 note, Vibe P1m, and Vibe C during the Lenovo Partners meet. It has been informed that except for Vibe C the other smartphones fall in the medium price range category.</p> <p style="text-align:justify">According to the company, all of the models support android Lollipop operating software. The handsets have fast and powerful processor, which supports dual Sim with dual stand-by.</p> <p style="text-align:justify">The company which is globally known for the production of laptops, has been providing its customers with quality smartphones, tablets, smart TV's amongst others. The company informs that it has bagged the 4th position around the globe and is gradually increasing. The brand has made a good start by bringing in budget phones.</p> <p style="text-align:justify">Besides the announcement of new model, the company also introduced cashcount scheme. Under the scheme, the buyer will get a scratch card which ensures sure shot cash prize of an amount ranging from Rs 500 to Rs 1,00,000.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3803', 'image' => '20160714112102_lenovo.JPG', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3969', 'article_category_id' => '1', 'title' => 'Government to Make CSR Mandatory', 'sub_title' => '', 'summary' => 'July 13: The government is making corporate social responsibility (CSR) mandatory for all types of industries. The bill formulated to amend and combine the acts of industrial enterprises has proposed mandatory allocation of particular amount from the total transaction of any industrial ent', 'content' => '<p>July 13: The government is making corporate social responsibility (CSR) mandatory for all types of industries. The bill formulated to amend and combine the acts of industrial enterprises has proposed mandatory allocation of particular amount from the total transaction of any industrial enterprises.</p> <p>In the bill, provision of at least 0.5 percent allocation of annual total transaction for CSR has been proposed to the enterprises that has more than Rs 150 million annual turnovers. The provision mentions that the amount should be spent in the selected sector by the industry formulating annual plans and programs. A detail report of the amount allocated and the program selected by the industry for CSR has to be submitted to the government within the three months from the end of FY.</p> <p>However, industrialist and entrepreneurs has demanded allocation of fund for CSR from profit rather than transaction amount. They expressed their opinion in the bill discussion meeting jointly organised by Ministry of Industries and Federation of Nepalese Chamber of Commerce and Industries (FNCCI). “If any industry spent the allocated amount in environment conservation, it has to be deducted as CSR,” says FNCCI President Pashupati Murarka.</p> <p>According to the industrialists, it is unpractical for industries to formulate programs by themselves for CSR. They have demanded a mechanism allowing them to grant the money to any particular department or organisations. </p> ', 'published' => true, 'created' => '2016-07-13', 'modified' => '2016-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '3802', 'image' => '20160713022054_csr.jpg', 'article_date' => '2016-07-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3968', 'article_category_id' => '1', 'title' => 'IDBL Endorses 1:0.73 Swap Ratio', 'sub_title' => '', 'summary' => 'July 13: The Special General Meeting (SGM) of International Development Bank Limited (IDBL) has endorsed the proposed 1:0.73 swap ratio for the merger with Nepal Credit and Commerce, Infrastructure Development, Apex Development and Supreme D', 'content' => '<p style="text-align: justify;">July 13: The Special General Meeting (SGM) of International Development Bank Limited (IDBL) has endorsed the proposed 1:0.73 swap ratio for the merger with Nepal Credit and Commerce, Infrastructure Development, Apex Development and Supreme Development Bank. The SGM held on July 12 passed the swap ratio resulted from the assets and liabilities valuation report of merger banks. The SGM has endorsed 100 units share of IDBL equals to 73 unit shares of Nepal Credit and Commerce Bank as per the valuation report.</p> ', 'published' => true, 'created' => '2016-07-13', 'modified' => '2016-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '3801', 'image' => '20160713123304_idbl.jpg', 'article_date' => '2016-07-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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' => '3983', 'article_category_id' => '1', 'title' => 'FCAN's Training to Construction Entrepreneurs of Mid-Western Development Region', 'sub_title' => '', 'summary' => 'July 15: The training of procurement management, tax system and purchase management was given to the construction entrepreneurs of mid-western development region. The training was organised under the management of planning, research and development committee of Federation Contractors Association of Nepal (FCAN).', 'content' => '<p style="text-align:justify">July 15: The training of procurement management, tax system and purchase management was given to the construction entrepreneurs of mid-western development region. The training was organised under the management of planning, research and development committee of Federation Contractors Association of Nepal (FCAN). The training was provided to 40 construction entrepreneurs in Nepalgunj on Thursday. Vice-President of FCAN, Rudra Sharma urged everyone to be sensitive to the problem faced by the entrepreneurs as the construction business was ruined due to earthquake and unofficial blockade by India.</p> <p style="text-align:justify">He said that the development of the country is impossible until the construction business is flourished. The participating entrepreneurs were trained by Bhim Khatiwada, Representative of Asian Development Bank, Narayan Subedi, chief tax officer of Internal Revenue Office, Nepalgunj, Dr. Ramhari Lamichhane, Member Secretary of Council for Technical Education and Vocational Training and Baburam Dahal, Legal Advisor of FCAN.</p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3816', 'image' => '20160715032741_cni.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3981', 'article_category_id' => '1', 'title' => 'Qatar Airways Bags Skytrax Best Business Class Airline Award', 'sub_title' => '', 'summary' => 'July 15: Qatar Airways has won the World's Best Business Class title at 2016 Skytrax World Airline Awards held at Farnborough International Airshow in the United Kingdom. T', 'content' => '<p style="text-align: justify;">July 15: Qatar Airways has won the World's Best Business Class title at 2016 Skytrax World Airline Awards held at Farnborough International Airshow in the United Kingdom. The airways was awarded as per the voting by air travelers. Similarly, the company was also entitled Best Business Class Airline Lounge and the Best Airline Staff Service in the Middle East.</p> <p style="text-align: justify;">Akbar Al Baker, Chief Executive of Qatar Airways Group said, “It is a very proud moment for Qatar Airways to be named World's Best Business Class, Best Business Class Airline Lounge and Best Airline Staff Service in the Middle East by the prestigious Skytrax World Airline Awards not only for myself, but for every individual at Qatar Airways who creates the passengers’ experience.”</p> <p style="text-align: justify;">“Our commitment to continued success is unwavering and a testament to the dedication of our global teams. The airline’s renowned service, modern aircraft and luxurious cabins, combined with an expanding global network, continue to set Qatar Airways apart from the competition,” he added.</p> <p style="text-align: justify;">The Skytrax World Airline Awards are widely known as the Passengers Choice Awards with millions of travelers, from 160 different countries, participating in passenger satisfaction surveys to decide the winners each year.</p> <p style="text-align: justify;"><img alt="" src="/userfiles/images/qatar%202.jpg" style="height:422px; width:650px" /></p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3814', 'image' => '20160715030338_qatar.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3980', 'article_category_id' => '1', 'title' => 'Sunrise Bank Acquired Narayani Finance', 'sub_title' => '', 'summary' => 'July 15: Sunrise Bank Ltd has acquired Narayani National Finance and has started joint transaction from July 15. Dr Chiranjibi Nepal, Governor of NRB inaugurated the joint transaction amid a program on Thursday.', 'content' => '<p style="text-align: justify;">July 15: Sunrise Bank Ltd has acquired Narayani National Finance and has started joint transaction from July 15. Dr Chiranjibi Nepal, Governor of NRB inaugurated the joint transaction amid a program on Thursday.</p> <p style="text-align: justify;">In the program, Laxmi Das Manadhar, Chairman of National Finance handed over the registration paper of the finance to Moti Lal Dugadh, Chairman of Sunrise Bank. The bank informed of starting joint transaction with separate programs in all the branches of the finance. On the occasion, Dr Nepal greeted the bank and expressed the belief that the bank will further strengthen its position in the financial market. </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3813', 'image' => '20160715012608_sunrise bank.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3979', 'article_category_id' => '1', 'title' => 'Subhechha Bikas Bank to Merge with Garima Bikas Bank', 'sub_title' => '', 'summary' => 'July 15: Garima Bikas Bank, headquartered in Pokhara will merge with Subhechha Bikas Bank, headquartered in Narayanghat. The merger proposal was approved in the special general meeting of Garima Bikas Bank held on July 14.', 'content' => '<p style="text-align: justify;">July 15: Garima Bikas Bank, headquartered in Pokhara will merge with Subhechha Bikas Bank, headquartered in Narayanghat. The merger proposal was approved in the special general meeting of Garima Bikas Bank held on July 14.</p> <p style="text-align: justify;">Garima is a national level bank whereas Subhechha is operating in three districts only. The paid-up capital of merged bank will be Rs 1.8 billion. Currently, the paid-up capitals of Garima and Subhechha are about Rs 850 million and Rs 220 million respectively. After merger, the bank will have one extension counter and 37 branches. Issuing a press statement, the banks informed that the share swap ratio of 1:1 has been decided and the bank will function in the name of Garima Bikas Bank. The SGM also approved to transfer the central office of the bank to Lazimpat, Kathmandu from Pokhara-9, Mahendrapool.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3812', 'image' => '20160715122234_garima.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3978', 'article_category_id' => '1', 'title' => 'Bank of Kathmandu Lumbini Starts Operation', 'sub_title' => '', 'summary' => 'July 15: Bank of Kathmandu (BOK) and Lumbini Bank have merged with each other and started operation with the name of Bank of Kathmandu Lumbini Ltd. After annual general meetings of both banks endorsed the merger proposal, they got the final approval for merger from Nepal Rastra Bank on July 8. The both banks ha', 'content' => '<p style="text-align: justify;">July 15: Bank of Kathmandu (BOK) and Lumbini Bank have merged with each other and started operation with the name of Bank of Kathmandu Lumbini Ltd. After annual general meetings of both banks endorsed the merger proposal, they got the final approval for merger from Nepal Rastra Bank on July 8. The both banks had signed the agreement paper and submitted the joint application to NRB last year for the merger. After merger, the paid-up capital of bank has reached Rs 4.57 billion. The share swap ratio of BOK and Lumbini bank was decided to 1:0.83 ratio.</p> <p style="text-align: justify;">Satya Narayan Manandhar, Chairman of BOK and Ajay Shrestha, CEO of BOK will be the Chairman and CEO of new entity too.</p> <p style="text-align: justify;">According to Manandhar, he aims to make the newly merged bank to the top 5 banks of Nepal. Speaking in the program, Chiranjivi Nepal, Governor of NRB suggested of investing in far-western region stating 60 percent people of the country are deprived from banking financial services. He added, "After merger, the bank has become more competitive and can show its presence in national level. Let’s utilise the investment opportunities inside the country."</p> <p style="text-align: justify;">After merger, the number of branches and ATMs has reached 74 and 63. Similarly, the bank has Rs 62 billion in deposits and loans of Rs 54 billion. </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3811', 'image' => '20160715115924_bok.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3977', 'article_category_id' => '1', 'title' => 'Private Sector Favourable Monetary Policy', 'sub_title' => '', 'summary' => 'July 15: NRB has addressed the issues raised by private sector through the monetary policy for the upcoming FY. Addressing the demand of private sector, NRB has increased the limit of multi-bank loans to be converted to consortium loans to 1 billion from Rs 500 million. Private sector had been dissatisfied on previous NRB directive of c', 'content' => '<p style="text-align:justify">July 15: NRB has addressed the issues raised by private sector through the monetary policy for the upcoming FY. Addressing the demand of private sector, NRB has increased the limit of multi-bank loans to be converted to consortium loans to 1 billion from Rs 500 million. Private sector had been dissatisfied on previous NRB directive of converting multi-bank loan of Rs 500 million to consortium loan.</p> <p style="text-align:justify">“We do not need to criticise monetary policy now. Our demands have been addressed,” said businessman Kamlesh Kumar Agrawal. Businessmen are pleased on fulfilled demand with no additional strategic mechanisms. NRB has also given concession to business sector on mandatory payment through cheque on transaction above Rs 5 million which has now reduced to Rs 3 million. Business sector believed that the provision will reduce the risk of cash economy and promote economy based on financial tools rather than based on cash.</p> <p style="text-align:justify"><strong>Tightened valuation of shares</strong></p> <p style="text-align:justify">NRB has tightened extension of loans on share collateral. Now onwards, banks can extend loans up to maximum of 50 percent of the total value of share based on the average price of the share in the last 180 days or prevailing market price whichever is less. The provision will certainly reduce the loan amount investors are getting right now on share collateral.</p> <p style="text-align:justify">“Investors were nervous on possible limitation NRB could set on loans provided by the banks. But as limit has been set on valuation of collateral, it might not have big effect,” said Anjan Raj Poudel, a share broker. As of mid-April, banks and financial institutions have extended less than 3 percent loans on the sector. However, NRB has sustained the same provision for BFIs on extending loans on share.</p> <p style="text-align:justify">NRB has also tightened real estate loans. The banks can issue real estate loans up to 50 percent of the total value of the collateral. Earlier, such limit was 60 percent. However, NRB has kept the provision of issuing residential house loan up to Rs 10 million constant. Presently, the banks can issue such loans up to 60 percent of the collateral.</p> <p style="text-align:justify"><strong>Investors of Microfinance disappointed</strong></p> <p style="text-align:justify">As expected by many share investors, the monetary policy has not formulated any mechanism for paid-up capital increment of microfinance companies. Investors were expecting 4 folds capital increment of national level microfinance companies and by 2 folds of other microfinance companies. However, NRB has increased minimum paid-up capital to Rs 600 million of the microfinance that provides retail loans by mid-July 2018. Based on the provision, only Sana Kishan Microfinance Company, RSDC, First Microfinance and RMDC have to increase their paid-up capital to Rs 600 million.</p> <p style="text-align:justify">Apart from this, the monetary policy has also set the spread rate limit for microfinance companies in a bid to control loan interest rate. Micro finance companies will have to maintain maximum of 7 percent spread rate on their capital expenditure for loan extension. According to the third quarter reports, the companies have only 3-8 percent capital expenditure. Based on this, the loan interest rate in microfinance companies will limit to 15-16 percent. Dharma Raj Pandey, Chairman of Nepal Microfinance Bankers Association said that the mechanism will affect the microfinance sector. Presently, microfinance companies are criticised for charging above 22 percent interest rate on loans.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3810', 'image' => '20160715113258_monetary_policy.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3976', 'article_category_id' => '1', 'title' => 'Monetary Policy for the Upcoming FY Unveiled', 'sub_title' => '', 'summary' => 'July 14: Nepal Rastra Bank (NRB) has unveiled the monetary policy for the upcoming FY 2016/17 in a bid to achieve targets announced by the government on the recent budget speech.', 'content' => '<p style="text-align:justify">July 14: Nepal Rastra Bank (NRB) has unveiled the monetary policy for the upcoming FY 2016/17 in a bid to achieve targets announced by the government on the recent budget speech.</p> <p style="text-align:justify">Dr Chiranjibi Nepal, Governor of NRB unveiled the monetary policy amid a program in the capital today.</p> <p style="text-align:justify">The monetary policy has aimed to limit inflation to 7.5 per cent. Similarly, it has targeted economic growth of 6.5 per cent for the upcoming FY. Likewise, it has predicted internal loan expansion of 25 percent and private sector’s loan extension of 20 percent. The monetary policy has extended time-period of maintaining mandatory cash reserve from one week to two week.</p> <p style="text-align:justify">For the first time, NRB has planned of implementing interest rate corridor through the monetary policy. The policy has prioritised flow of capital to various productive sectors including agriculture, energy, tourism, small and cottage industries as well as underprivileged population.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3809', 'image' => '20160714053032_20160714045421_fdsfsd.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3975', 'article_category_id' => '1', 'title' => 'Able Perfect's 'Best Choice' Cooking Oil in Market', 'sub_title' => '', 'summary' => 'July 14: Shiva Traders of Birgunj, the authorised dealer of Able Perfect Sbn Bhd of Malaysia has launched 'Best Choice' cooking oil in the Nepali market.', 'content' => '<p style="text-align: justify;">July 14: Shiva Traders of Birgunj, the authorised dealer of Able Perfect Sbn Bhd of Malaysia has launched 'Best Choice' cooking oil in the Nepali market.</p> <p style="text-align: justify;">According to Shiva Goyal, operator of the company, the company avails 15 litres packed tin of refined palmolein cooking oil in the market as well as in the package of one liter. The company informed of launching two liters of Sunflower oil in 'Choice' brand in the market before this. The products of Able Perfect are available in 93 countries across the world.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3808', 'image' => '20160714040405_20160714021709_Choice oil.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3974', 'article_category_id' => '1', 'title' => 'TVS Annual Dealer Conference', 'sub_title' => '', 'summary' => 'July 14: Jagadamba Motors held their Annual Dealer Conference 2016-17 with the slogan “Together We Grow Stronger” from 12th to 14th July in Kathmandu. The company unveiled five new products of TVS and conducted motivational training, informed about its plans for the future and the understanding of business. Shanker group’s Jagdamba Motors is the sole authorized distributor of TVS Motor Company in Nepal.', 'content' => '<p style="text-align: justify;">July 14: Jagadamba Motors held their Annual Dealer Conference 2016-17 with the slogan<em> “Together We Grow Stronger”</em> from 12<sup>th</sup> to 14<sup>th</sup> July in Kathmandu. The company unveiled five new products of TVS and conducted motivational training, informed about its plans for the future and the understanding of business. Shanker group’s Jagdamba Motors is the sole authorized distributor of TVS Motor Company in Nepal.</p> <p style="text-align: justify;">The company introduces 'TVS Wego' with Combi Brakes, 'TVS-Excel 100' ,TVS Dazz, TVS Victor and TVS King in the market.</p> <p style="text-align: justify;">The program was initiated by Shahil Agarwal, the Managing Director of Jagdamba Motors. Likewise the program was conducted in the presence of Auro Ashish Chaudary (General Manager), SP Krishna Kumar (AGM- Service) and Arun Kumar (AGM) of TVS Motor Company, India.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3807', 'image' => '20160714020743_tvs.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3973', 'article_category_id' => '1', 'title' => 'NRB Announcing Monetary Policy Today', 'sub_title' => '', 'summary' => 'July 14: NRB which was preparing to bring monetary policy for the FY 2073/74 since last one week will be announcing it on Thursday. Dr Chiranjibi Nepal, Governor of the NRB will be broadcasting the monetary policy of the coming FY this afternoon.', 'content' => '<p style="text-align:justify">July 14: NRB which was preparing to bring monetary policy for the FY 2073/74 since last one week will be announcing it on Thursday. Dr Chiranjibi Nepal, Governor of the NRB will be broadcasting the monetary policy of the coming FY this afternoon.</p> <p style="text-align:justify">Various remarks have been gathering in the financial sector regarding the monetary policy which has already been delayed. NRB will be formulating policies related with capital expansion of micro finance companies, mechanism regarding interest rate corridor, liquidity management and other issues. </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3806', 'image' => '20160714013421_20160714010300_NRB.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3972', 'article_category_id' => '1', 'title' => 'Sagarmatha Insurance to distribute 23.75 % bonus share', 'sub_title' => '', 'summary' => 'July 14: The 19th annual general meeting (AGM) of Sagarmatha Insurance has endorsed the proposal of distributing 23.75 percent bonus share and 1.25 percent cash dividend for tax provision to its shareholders. The AGM was held under the chairmanship of Ram Krishna Manandhar, Chairman of the company at Trade Tower Nepal, Kathmandu on July 12.', 'content' => '<p style="text-align: justify;">July 14: The 19<sup>th</sup> annual general meeting (AGM) of Sagarmatha Insurance has endorsed the proposal of distributing 23.75 percent bonus share and 1.25 percent cash dividend for tax provision to its shareholders. The AGM was held under the chairmanship of Ram Krishna Manandhar, Chairman of the company at Trade Tower Nepal, Kathmandu on July 12.</p> <p style="text-align: justify;">In the AGM, Manandhar presented the annual report of the FY 2071/72 that shows 5.13 percent increment in its total transaction during the year. According to the report, the company has earned Rs 1.02 billion premium and Rs 75 million net profit in the FY 2071/72.</p> <p style="text-align: justify;">Similarly, Manandhar informed of earning Rs 1.09 million insurance premium by the end of current FY. “A total of 3015 insurance claims have been made for compensation due to the devastating earthquake of last year. Among the claims, 2551 claims have been cleared compensating Rs 1.16 billion to the clients. Remaining claims are in process of clearing,” he informed.</p> <p style="text-align: justify;">Sagarmatha Insurance has been providing its services through 32 branches with the possible extension in the feasible region in upcoming days. </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3805', 'image' => '20160714121238_sagar.JPG', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3971', 'article_category_id' => '1', 'title' => 'Nabil Bank Marks 32nd Anniversary', 'sub_title' => '', 'summary' => 'July 14: Nabil Bank has celebrated its 32nd anniversary organising different programs on July 12. On the occasion, the commercial bank distributed various necessities like wheel chairs, water dispenser machines, and sports items to the physically and mentally disabled children and old aged people at Conflict Victim & Disabled Society-Nepal (CVDS-Nepal). ', 'content' => '<p style="text-align: justify;">July 14: Nabil Bank has celebrated its 32<sup>nd</sup> anniversary organising different programs on July 12. On the occasion, the commercial bank distributed various necessities like wheel chairs, water dispenser machines, and sports items to the physically and mentally disabled children and old aged people at Conflict Victim & Disabled Society-Nepal (CVDS-Nepal). Shambhu Prasad Poudel, Chairman of the bank, Dayaram Gopal Agrawal, Director and Ramesh Prasad Lohani, Assistant General Manager handed over the materials to the CVDS-Nepal.</p> <p style="text-align: justify;">Issuing a press statement the bank informed of undertaking various activities in various areas like education, science and technology, sports, health, art and literature under its corporate social responsibility. Currently, the bank provides financial services through 52 branches, 90 ATMs and more than 1400 Nabil remittance agents.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3804', 'image' => '20160714115741_nabil.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3970', 'article_category_id' => '1', 'title' => 'Lenovo Introduces 4 New Smartphone', 'sub_title' => '', 'summary' => 'July 14: LifeCom Pvt Ltd, the authorised distributor of Lenovo Smartphone for Nepal, has introduced four new models of Lenevo smart phone in the Nepali market.', 'content' => '<p style="text-align:justify">July 14: LifeCom Pvt Ltd, the authorised distributor of Lenovo Smartphone for Nepal, has introduced four new models of Lenevo smart phone in the Nepali market.</p> <p style="text-align:justify">Issuing a press statement, the company informed of launching lenovo smart phone models of Vibe K3 Note, Vibe K4 note, Vibe P1m, and Vibe C during the Lenovo Partners meet. It has been informed that except for Vibe C the other smartphones fall in the medium price range category.</p> <p style="text-align:justify">According to the company, all of the models support android Lollipop operating software. The handsets have fast and powerful processor, which supports dual Sim with dual stand-by.</p> <p style="text-align:justify">The company which is globally known for the production of laptops, has been providing its customers with quality smartphones, tablets, smart TV's amongst others. The company informs that it has bagged the 4th position around the globe and is gradually increasing. The brand has made a good start by bringing in budget phones.</p> <p style="text-align:justify">Besides the announcement of new model, the company also introduced cashcount scheme. Under the scheme, the buyer will get a scratch card which ensures sure shot cash prize of an amount ranging from Rs 500 to Rs 1,00,000.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3803', 'image' => '20160714112102_lenovo.JPG', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3969', 'article_category_id' => '1', 'title' => 'Government to Make CSR Mandatory', 'sub_title' => '', 'summary' => 'July 13: The government is making corporate social responsibility (CSR) mandatory for all types of industries. The bill formulated to amend and combine the acts of industrial enterprises has proposed mandatory allocation of particular amount from the total transaction of any industrial ent', 'content' => '<p>July 13: The government is making corporate social responsibility (CSR) mandatory for all types of industries. The bill formulated to amend and combine the acts of industrial enterprises has proposed mandatory allocation of particular amount from the total transaction of any industrial enterprises.</p> <p>In the bill, provision of at least 0.5 percent allocation of annual total transaction for CSR has been proposed to the enterprises that has more than Rs 150 million annual turnovers. The provision mentions that the amount should be spent in the selected sector by the industry formulating annual plans and programs. A detail report of the amount allocated and the program selected by the industry for CSR has to be submitted to the government within the three months from the end of FY.</p> <p>However, industrialist and entrepreneurs has demanded allocation of fund for CSR from profit rather than transaction amount. They expressed their opinion in the bill discussion meeting jointly organised by Ministry of Industries and Federation of Nepalese Chamber of Commerce and Industries (FNCCI). “If any industry spent the allocated amount in environment conservation, it has to be deducted as CSR,” says FNCCI President Pashupati Murarka.</p> <p>According to the industrialists, it is unpractical for industries to formulate programs by themselves for CSR. They have demanded a mechanism allowing them to grant the money to any particular department or organisations. </p> ', 'published' => true, 'created' => '2016-07-13', 'modified' => '2016-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '3802', 'image' => '20160713022054_csr.jpg', 'article_date' => '2016-07-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3968', 'article_category_id' => '1', 'title' => 'IDBL Endorses 1:0.73 Swap Ratio', 'sub_title' => '', 'summary' => 'July 13: The Special General Meeting (SGM) of International Development Bank Limited (IDBL) has endorsed the proposed 1:0.73 swap ratio for the merger with Nepal Credit and Commerce, Infrastructure Development, Apex Development and Supreme D', 'content' => '<p style="text-align: justify;">July 13: The Special General Meeting (SGM) of International Development Bank Limited (IDBL) has endorsed the proposed 1:0.73 swap ratio for the merger with Nepal Credit and Commerce, Infrastructure Development, Apex Development and Supreme Development Bank. The SGM held on July 12 passed the swap ratio resulted from the assets and liabilities valuation report of merger banks. The SGM has endorsed 100 units share of IDBL equals to 73 unit shares of Nepal Credit and Commerce Bank as per the valuation report.</p> ', 'published' => true, 'created' => '2016-07-13', 'modified' => '2016-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '3801', 'image' => '20160713123304_idbl.jpg', 'article_date' => '2016-07-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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' => '3983', 'article_category_id' => '1', 'title' => 'FCAN's Training to Construction Entrepreneurs of Mid-Western Development Region', 'sub_title' => '', 'summary' => 'July 15: The training of procurement management, tax system and purchase management was given to the construction entrepreneurs of mid-western development region. The training was organised under the management of planning, research and development committee of Federation Contractors Association of Nepal (FCAN).', 'content' => '<p style="text-align:justify">July 15: The training of procurement management, tax system and purchase management was given to the construction entrepreneurs of mid-western development region. The training was organised under the management of planning, research and development committee of Federation Contractors Association of Nepal (FCAN). The training was provided to 40 construction entrepreneurs in Nepalgunj on Thursday. Vice-President of FCAN, Rudra Sharma urged everyone to be sensitive to the problem faced by the entrepreneurs as the construction business was ruined due to earthquake and unofficial blockade by India.</p> <p style="text-align:justify">He said that the development of the country is impossible until the construction business is flourished. The participating entrepreneurs were trained by Bhim Khatiwada, Representative of Asian Development Bank, Narayan Subedi, chief tax officer of Internal Revenue Office, Nepalgunj, Dr. Ramhari Lamichhane, Member Secretary of Council for Technical Education and Vocational Training and Baburam Dahal, Legal Advisor of FCAN.</p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3816', 'image' => '20160715032741_cni.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3981', 'article_category_id' => '1', 'title' => 'Qatar Airways Bags Skytrax Best Business Class Airline Award', 'sub_title' => '', 'summary' => 'July 15: Qatar Airways has won the World's Best Business Class title at 2016 Skytrax World Airline Awards held at Farnborough International Airshow in the United Kingdom. T', 'content' => '<p style="text-align: justify;">July 15: Qatar Airways has won the World's Best Business Class title at 2016 Skytrax World Airline Awards held at Farnborough International Airshow in the United Kingdom. The airways was awarded as per the voting by air travelers. Similarly, the company was also entitled Best Business Class Airline Lounge and the Best Airline Staff Service in the Middle East.</p> <p style="text-align: justify;">Akbar Al Baker, Chief Executive of Qatar Airways Group said, “It is a very proud moment for Qatar Airways to be named World's Best Business Class, Best Business Class Airline Lounge and Best Airline Staff Service in the Middle East by the prestigious Skytrax World Airline Awards not only for myself, but for every individual at Qatar Airways who creates the passengers’ experience.”</p> <p style="text-align: justify;">“Our commitment to continued success is unwavering and a testament to the dedication of our global teams. The airline’s renowned service, modern aircraft and luxurious cabins, combined with an expanding global network, continue to set Qatar Airways apart from the competition,” he added.</p> <p style="text-align: justify;">The Skytrax World Airline Awards are widely known as the Passengers Choice Awards with millions of travelers, from 160 different countries, participating in passenger satisfaction surveys to decide the winners each year.</p> <p style="text-align: justify;"><img alt="" src="/userfiles/images/qatar%202.jpg" style="height:422px; width:650px" /></p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3814', 'image' => '20160715030338_qatar.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3980', 'article_category_id' => '1', 'title' => 'Sunrise Bank Acquired Narayani Finance', 'sub_title' => '', 'summary' => 'July 15: Sunrise Bank Ltd has acquired Narayani National Finance and has started joint transaction from July 15. Dr Chiranjibi Nepal, Governor of NRB inaugurated the joint transaction amid a program on Thursday.', 'content' => '<p style="text-align: justify;">July 15: Sunrise Bank Ltd has acquired Narayani National Finance and has started joint transaction from July 15. Dr Chiranjibi Nepal, Governor of NRB inaugurated the joint transaction amid a program on Thursday.</p> <p style="text-align: justify;">In the program, Laxmi Das Manadhar, Chairman of National Finance handed over the registration paper of the finance to Moti Lal Dugadh, Chairman of Sunrise Bank. The bank informed of starting joint transaction with separate programs in all the branches of the finance. On the occasion, Dr Nepal greeted the bank and expressed the belief that the bank will further strengthen its position in the financial market. </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3813', 'image' => '20160715012608_sunrise bank.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3979', 'article_category_id' => '1', 'title' => 'Subhechha Bikas Bank to Merge with Garima Bikas Bank', 'sub_title' => '', 'summary' => 'July 15: Garima Bikas Bank, headquartered in Pokhara will merge with Subhechha Bikas Bank, headquartered in Narayanghat. The merger proposal was approved in the special general meeting of Garima Bikas Bank held on July 14.', 'content' => '<p style="text-align: justify;">July 15: Garima Bikas Bank, headquartered in Pokhara will merge with Subhechha Bikas Bank, headquartered in Narayanghat. The merger proposal was approved in the special general meeting of Garima Bikas Bank held on July 14.</p> <p style="text-align: justify;">Garima is a national level bank whereas Subhechha is operating in three districts only. The paid-up capital of merged bank will be Rs 1.8 billion. Currently, the paid-up capitals of Garima and Subhechha are about Rs 850 million and Rs 220 million respectively. After merger, the bank will have one extension counter and 37 branches. Issuing a press statement, the banks informed that the share swap ratio of 1:1 has been decided and the bank will function in the name of Garima Bikas Bank. The SGM also approved to transfer the central office of the bank to Lazimpat, Kathmandu from Pokhara-9, Mahendrapool.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3812', 'image' => '20160715122234_garima.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3978', 'article_category_id' => '1', 'title' => 'Bank of Kathmandu Lumbini Starts Operation', 'sub_title' => '', 'summary' => 'July 15: Bank of Kathmandu (BOK) and Lumbini Bank have merged with each other and started operation with the name of Bank of Kathmandu Lumbini Ltd. After annual general meetings of both banks endorsed the merger proposal, they got the final approval for merger from Nepal Rastra Bank on July 8. The both banks ha', 'content' => '<p style="text-align: justify;">July 15: Bank of Kathmandu (BOK) and Lumbini Bank have merged with each other and started operation with the name of Bank of Kathmandu Lumbini Ltd. After annual general meetings of both banks endorsed the merger proposal, they got the final approval for merger from Nepal Rastra Bank on July 8. The both banks had signed the agreement paper and submitted the joint application to NRB last year for the merger. After merger, the paid-up capital of bank has reached Rs 4.57 billion. The share swap ratio of BOK and Lumbini bank was decided to 1:0.83 ratio.</p> <p style="text-align: justify;">Satya Narayan Manandhar, Chairman of BOK and Ajay Shrestha, CEO of BOK will be the Chairman and CEO of new entity too.</p> <p style="text-align: justify;">According to Manandhar, he aims to make the newly merged bank to the top 5 banks of Nepal. Speaking in the program, Chiranjivi Nepal, Governor of NRB suggested of investing in far-western region stating 60 percent people of the country are deprived from banking financial services. He added, "After merger, the bank has become more competitive and can show its presence in national level. Let’s utilise the investment opportunities inside the country."</p> <p style="text-align: justify;">After merger, the number of branches and ATMs has reached 74 and 63. Similarly, the bank has Rs 62 billion in deposits and loans of Rs 54 billion. </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3811', 'image' => '20160715115924_bok.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3977', 'article_category_id' => '1', 'title' => 'Private Sector Favourable Monetary Policy', 'sub_title' => '', 'summary' => 'July 15: NRB has addressed the issues raised by private sector through the monetary policy for the upcoming FY. Addressing the demand of private sector, NRB has increased the limit of multi-bank loans to be converted to consortium loans to 1 billion from Rs 500 million. Private sector had been dissatisfied on previous NRB directive of c', 'content' => '<p style="text-align:justify">July 15: NRB has addressed the issues raised by private sector through the monetary policy for the upcoming FY. Addressing the demand of private sector, NRB has increased the limit of multi-bank loans to be converted to consortium loans to 1 billion from Rs 500 million. Private sector had been dissatisfied on previous NRB directive of converting multi-bank loan of Rs 500 million to consortium loan.</p> <p style="text-align:justify">“We do not need to criticise monetary policy now. Our demands have been addressed,” said businessman Kamlesh Kumar Agrawal. Businessmen are pleased on fulfilled demand with no additional strategic mechanisms. NRB has also given concession to business sector on mandatory payment through cheque on transaction above Rs 5 million which has now reduced to Rs 3 million. Business sector believed that the provision will reduce the risk of cash economy and promote economy based on financial tools rather than based on cash.</p> <p style="text-align:justify"><strong>Tightened valuation of shares</strong></p> <p style="text-align:justify">NRB has tightened extension of loans on share collateral. Now onwards, banks can extend loans up to maximum of 50 percent of the total value of share based on the average price of the share in the last 180 days or prevailing market price whichever is less. The provision will certainly reduce the loan amount investors are getting right now on share collateral.</p> <p style="text-align:justify">“Investors were nervous on possible limitation NRB could set on loans provided by the banks. But as limit has been set on valuation of collateral, it might not have big effect,” said Anjan Raj Poudel, a share broker. As of mid-April, banks and financial institutions have extended less than 3 percent loans on the sector. However, NRB has sustained the same provision for BFIs on extending loans on share.</p> <p style="text-align:justify">NRB has also tightened real estate loans. The banks can issue real estate loans up to 50 percent of the total value of the collateral. Earlier, such limit was 60 percent. However, NRB has kept the provision of issuing residential house loan up to Rs 10 million constant. Presently, the banks can issue such loans up to 60 percent of the collateral.</p> <p style="text-align:justify"><strong>Investors of Microfinance disappointed</strong></p> <p style="text-align:justify">As expected by many share investors, the monetary policy has not formulated any mechanism for paid-up capital increment of microfinance companies. Investors were expecting 4 folds capital increment of national level microfinance companies and by 2 folds of other microfinance companies. However, NRB has increased minimum paid-up capital to Rs 600 million of the microfinance that provides retail loans by mid-July 2018. Based on the provision, only Sana Kishan Microfinance Company, RSDC, First Microfinance and RMDC have to increase their paid-up capital to Rs 600 million.</p> <p style="text-align:justify">Apart from this, the monetary policy has also set the spread rate limit for microfinance companies in a bid to control loan interest rate. Micro finance companies will have to maintain maximum of 7 percent spread rate on their capital expenditure for loan extension. According to the third quarter reports, the companies have only 3-8 percent capital expenditure. Based on this, the loan interest rate in microfinance companies will limit to 15-16 percent. Dharma Raj Pandey, Chairman of Nepal Microfinance Bankers Association said that the mechanism will affect the microfinance sector. Presently, microfinance companies are criticised for charging above 22 percent interest rate on loans.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3810', 'image' => '20160715113258_monetary_policy.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3976', 'article_category_id' => '1', 'title' => 'Monetary Policy for the Upcoming FY Unveiled', 'sub_title' => '', 'summary' => 'July 14: Nepal Rastra Bank (NRB) has unveiled the monetary policy for the upcoming FY 2016/17 in a bid to achieve targets announced by the government on the recent budget speech.', 'content' => '<p style="text-align:justify">July 14: Nepal Rastra Bank (NRB) has unveiled the monetary policy for the upcoming FY 2016/17 in a bid to achieve targets announced by the government on the recent budget speech.</p> <p style="text-align:justify">Dr Chiranjibi Nepal, Governor of NRB unveiled the monetary policy amid a program in the capital today.</p> <p style="text-align:justify">The monetary policy has aimed to limit inflation to 7.5 per cent. Similarly, it has targeted economic growth of 6.5 per cent for the upcoming FY. Likewise, it has predicted internal loan expansion of 25 percent and private sector’s loan extension of 20 percent. The monetary policy has extended time-period of maintaining mandatory cash reserve from one week to two week.</p> <p style="text-align:justify">For the first time, NRB has planned of implementing interest rate corridor through the monetary policy. The policy has prioritised flow of capital to various productive sectors including agriculture, energy, tourism, small and cottage industries as well as underprivileged population.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3809', 'image' => '20160714053032_20160714045421_fdsfsd.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3975', 'article_category_id' => '1', 'title' => 'Able Perfect's 'Best Choice' Cooking Oil in Market', 'sub_title' => '', 'summary' => 'July 14: Shiva Traders of Birgunj, the authorised dealer of Able Perfect Sbn Bhd of Malaysia has launched 'Best Choice' cooking oil in the Nepali market.', 'content' => '<p style="text-align: justify;">July 14: Shiva Traders of Birgunj, the authorised dealer of Able Perfect Sbn Bhd of Malaysia has launched 'Best Choice' cooking oil in the Nepali market.</p> <p style="text-align: justify;">According to Shiva Goyal, operator of the company, the company avails 15 litres packed tin of refined palmolein cooking oil in the market as well as in the package of one liter. The company informed of launching two liters of Sunflower oil in 'Choice' brand in the market before this. The products of Able Perfect are available in 93 countries across the world.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3808', 'image' => '20160714040405_20160714021709_Choice oil.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3974', 'article_category_id' => '1', 'title' => 'TVS Annual Dealer Conference', 'sub_title' => '', 'summary' => 'July 14: Jagadamba Motors held their Annual Dealer Conference 2016-17 with the slogan “Together We Grow Stronger” from 12th to 14th July in Kathmandu. The company unveiled five new products of TVS and conducted motivational training, informed about its plans for the future and the understanding of business. Shanker group’s Jagdamba Motors is the sole authorized distributor of TVS Motor Company in Nepal.', 'content' => '<p style="text-align: justify;">July 14: Jagadamba Motors held their Annual Dealer Conference 2016-17 with the slogan<em> “Together We Grow Stronger”</em> from 12<sup>th</sup> to 14<sup>th</sup> July in Kathmandu. The company unveiled five new products of TVS and conducted motivational training, informed about its plans for the future and the understanding of business. Shanker group’s Jagdamba Motors is the sole authorized distributor of TVS Motor Company in Nepal.</p> <p style="text-align: justify;">The company introduces 'TVS Wego' with Combi Brakes, 'TVS-Excel 100' ,TVS Dazz, TVS Victor and TVS King in the market.</p> <p style="text-align: justify;">The program was initiated by Shahil Agarwal, the Managing Director of Jagdamba Motors. Likewise the program was conducted in the presence of Auro Ashish Chaudary (General Manager), SP Krishna Kumar (AGM- Service) and Arun Kumar (AGM) of TVS Motor Company, India.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3807', 'image' => '20160714020743_tvs.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3973', 'article_category_id' => '1', 'title' => 'NRB Announcing Monetary Policy Today', 'sub_title' => '', 'summary' => 'July 14: NRB which was preparing to bring monetary policy for the FY 2073/74 since last one week will be announcing it on Thursday. Dr Chiranjibi Nepal, Governor of the NRB will be broadcasting the monetary policy of the coming FY this afternoon.', 'content' => '<p style="text-align:justify">July 14: NRB which was preparing to bring monetary policy for the FY 2073/74 since last one week will be announcing it on Thursday. Dr Chiranjibi Nepal, Governor of the NRB will be broadcasting the monetary policy of the coming FY this afternoon.</p> <p style="text-align:justify">Various remarks have been gathering in the financial sector regarding the monetary policy which has already been delayed. NRB will be formulating policies related with capital expansion of micro finance companies, mechanism regarding interest rate corridor, liquidity management and other issues. </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3806', 'image' => '20160714013421_20160714010300_NRB.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3972', 'article_category_id' => '1', 'title' => 'Sagarmatha Insurance to distribute 23.75 % bonus share', 'sub_title' => '', 'summary' => 'July 14: The 19th annual general meeting (AGM) of Sagarmatha Insurance has endorsed the proposal of distributing 23.75 percent bonus share and 1.25 percent cash dividend for tax provision to its shareholders. The AGM was held under the chairmanship of Ram Krishna Manandhar, Chairman of the company at Trade Tower Nepal, Kathmandu on July 12.', 'content' => '<p style="text-align: justify;">July 14: The 19<sup>th</sup> annual general meeting (AGM) of Sagarmatha Insurance has endorsed the proposal of distributing 23.75 percent bonus share and 1.25 percent cash dividend for tax provision to its shareholders. The AGM was held under the chairmanship of Ram Krishna Manandhar, Chairman of the company at Trade Tower Nepal, Kathmandu on July 12.</p> <p style="text-align: justify;">In the AGM, Manandhar presented the annual report of the FY 2071/72 that shows 5.13 percent increment in its total transaction during the year. According to the report, the company has earned Rs 1.02 billion premium and Rs 75 million net profit in the FY 2071/72.</p> <p style="text-align: justify;">Similarly, Manandhar informed of earning Rs 1.09 million insurance premium by the end of current FY. “A total of 3015 insurance claims have been made for compensation due to the devastating earthquake of last year. Among the claims, 2551 claims have been cleared compensating Rs 1.16 billion to the clients. Remaining claims are in process of clearing,” he informed.</p> <p style="text-align: justify;">Sagarmatha Insurance has been providing its services through 32 branches with the possible extension in the feasible region in upcoming days. </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3805', 'image' => '20160714121238_sagar.JPG', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3971', 'article_category_id' => '1', 'title' => 'Nabil Bank Marks 32nd Anniversary', 'sub_title' => '', 'summary' => 'July 14: Nabil Bank has celebrated its 32nd anniversary organising different programs on July 12. On the occasion, the commercial bank distributed various necessities like wheel chairs, water dispenser machines, and sports items to the physically and mentally disabled children and old aged people at Conflict Victim & Disabled Society-Nepal (CVDS-Nepal). ', 'content' => '<p style="text-align: justify;">July 14: Nabil Bank has celebrated its 32<sup>nd</sup> anniversary organising different programs on July 12. On the occasion, the commercial bank distributed various necessities like wheel chairs, water dispenser machines, and sports items to the physically and mentally disabled children and old aged people at Conflict Victim & Disabled Society-Nepal (CVDS-Nepal). Shambhu Prasad Poudel, Chairman of the bank, Dayaram Gopal Agrawal, Director and Ramesh Prasad Lohani, Assistant General Manager handed over the materials to the CVDS-Nepal.</p> <p style="text-align: justify;">Issuing a press statement the bank informed of undertaking various activities in various areas like education, science and technology, sports, health, art and literature under its corporate social responsibility. Currently, the bank provides financial services through 52 branches, 90 ATMs and more than 1400 Nabil remittance agents.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3804', 'image' => '20160714115741_nabil.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3970', 'article_category_id' => '1', 'title' => 'Lenovo Introduces 4 New Smartphone', 'sub_title' => '', 'summary' => 'July 14: LifeCom Pvt Ltd, the authorised distributor of Lenovo Smartphone for Nepal, has introduced four new models of Lenevo smart phone in the Nepali market.', 'content' => '<p style="text-align:justify">July 14: LifeCom Pvt Ltd, the authorised distributor of Lenovo Smartphone for Nepal, has introduced four new models of Lenevo smart phone in the Nepali market.</p> <p style="text-align:justify">Issuing a press statement, the company informed of launching lenovo smart phone models of Vibe K3 Note, Vibe K4 note, Vibe P1m, and Vibe C during the Lenovo Partners meet. It has been informed that except for Vibe C the other smartphones fall in the medium price range category.</p> <p style="text-align:justify">According to the company, all of the models support android Lollipop operating software. The handsets have fast and powerful processor, which supports dual Sim with dual stand-by.</p> <p style="text-align:justify">The company which is globally known for the production of laptops, has been providing its customers with quality smartphones, tablets, smart TV's amongst others. The company informs that it has bagged the 4th position around the globe and is gradually increasing. The brand has made a good start by bringing in budget phones.</p> <p style="text-align:justify">Besides the announcement of new model, the company also introduced cashcount scheme. Under the scheme, the buyer will get a scratch card which ensures sure shot cash prize of an amount ranging from Rs 500 to Rs 1,00,000.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3803', 'image' => '20160714112102_lenovo.JPG', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3969', 'article_category_id' => '1', 'title' => 'Government to Make CSR Mandatory', 'sub_title' => '', 'summary' => 'July 13: The government is making corporate social responsibility (CSR) mandatory for all types of industries. The bill formulated to amend and combine the acts of industrial enterprises has proposed mandatory allocation of particular amount from the total transaction of any industrial ent', 'content' => '<p>July 13: The government is making corporate social responsibility (CSR) mandatory for all types of industries. The bill formulated to amend and combine the acts of industrial enterprises has proposed mandatory allocation of particular amount from the total transaction of any industrial enterprises.</p> <p>In the bill, provision of at least 0.5 percent allocation of annual total transaction for CSR has been proposed to the enterprises that has more than Rs 150 million annual turnovers. The provision mentions that the amount should be spent in the selected sector by the industry formulating annual plans and programs. A detail report of the amount allocated and the program selected by the industry for CSR has to be submitted to the government within the three months from the end of FY.</p> <p>However, industrialist and entrepreneurs has demanded allocation of fund for CSR from profit rather than transaction amount. They expressed their opinion in the bill discussion meeting jointly organised by Ministry of Industries and Federation of Nepalese Chamber of Commerce and Industries (FNCCI). “If any industry spent the allocated amount in environment conservation, it has to be deducted as CSR,” says FNCCI President Pashupati Murarka.</p> <p>According to the industrialists, it is unpractical for industries to formulate programs by themselves for CSR. They have demanded a mechanism allowing them to grant the money to any particular department or organisations. </p> ', 'published' => true, 'created' => '2016-07-13', 'modified' => '2016-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '3802', 'image' => '20160713022054_csr.jpg', 'article_date' => '2016-07-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3968', 'article_category_id' => '1', 'title' => 'IDBL Endorses 1:0.73 Swap Ratio', 'sub_title' => '', 'summary' => 'July 13: The Special General Meeting (SGM) of International Development Bank Limited (IDBL) has endorsed the proposed 1:0.73 swap ratio for the merger with Nepal Credit and Commerce, Infrastructure Development, Apex Development and Supreme D', 'content' => '<p style="text-align: justify;">July 13: The Special General Meeting (SGM) of International Development Bank Limited (IDBL) has endorsed the proposed 1:0.73 swap ratio for the merger with Nepal Credit and Commerce, Infrastructure Development, Apex Development and Supreme Development Bank. The SGM held on July 12 passed the swap ratio resulted from the assets and liabilities valuation report of merger banks. The SGM has endorsed 100 units share of IDBL equals to 73 unit shares of Nepal Credit and Commerce Bank as per the valuation report.</p> ', 'published' => true, 'created' => '2016-07-13', 'modified' => '2016-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '3801', 'image' => '20160713123304_idbl.jpg', 'article_date' => '2016-07-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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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The training was organised under the management of planning, research and development committee of Federation Contractors Association of Nepal (FCAN).', 'content' => '<p style="text-align:justify">July 15: The training of procurement management, tax system and purchase management was given to the construction entrepreneurs of mid-western development region. The training was organised under the management of planning, research and development committee of Federation Contractors Association of Nepal (FCAN). The training was provided to 40 construction entrepreneurs in Nepalgunj on Thursday. Vice-President of FCAN, Rudra Sharma urged everyone to be sensitive to the problem faced by the entrepreneurs as the construction business was ruined due to earthquake and unofficial blockade by India.</p> <p style="text-align:justify">He said that the development of the country is impossible until the construction business is flourished. The participating entrepreneurs were trained by Bhim Khatiwada, Representative of Asian Development Bank, Narayan Subedi, chief tax officer of Internal Revenue Office, Nepalgunj, Dr. Ramhari Lamichhane, Member Secretary of Council for Technical Education and Vocational Training and Baburam Dahal, Legal Advisor of FCAN.</p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3816', 'image' => '20160715032741_cni.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3981', 'article_category_id' => '1', 'title' => 'Qatar Airways Bags Skytrax Best Business Class Airline Award', 'sub_title' => '', 'summary' => 'July 15: Qatar Airways has won the World's Best Business Class title at 2016 Skytrax World Airline Awards held at Farnborough International Airshow in the United Kingdom. T', 'content' => '<p style="text-align: justify;">July 15: Qatar Airways has won the World's Best Business Class title at 2016 Skytrax World Airline Awards held at Farnborough International Airshow in the United Kingdom. The airways was awarded as per the voting by air travelers. Similarly, the company was also entitled Best Business Class Airline Lounge and the Best Airline Staff Service in the Middle East.</p> <p style="text-align: justify;">Akbar Al Baker, Chief Executive of Qatar Airways Group said, “It is a very proud moment for Qatar Airways to be named World's Best Business Class, Best Business Class Airline Lounge and Best Airline Staff Service in the Middle East by the prestigious Skytrax World Airline Awards not only for myself, but for every individual at Qatar Airways who creates the passengers’ experience.”</p> <p style="text-align: justify;">“Our commitment to continued success is unwavering and a testament to the dedication of our global teams. The airline’s renowned service, modern aircraft and luxurious cabins, combined with an expanding global network, continue to set Qatar Airways apart from the competition,” he added.</p> <p style="text-align: justify;">The Skytrax World Airline Awards are widely known as the Passengers Choice Awards with millions of travelers, from 160 different countries, participating in passenger satisfaction surveys to decide the winners each year.</p> <p style="text-align: justify;"><img alt="" src="/userfiles/images/qatar%202.jpg" style="height:422px; width:650px" /></p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3814', 'image' => '20160715030338_qatar.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3980', 'article_category_id' => '1', 'title' => 'Sunrise Bank Acquired Narayani Finance', 'sub_title' => '', 'summary' => 'July 15: Sunrise Bank Ltd has acquired Narayani National Finance and has started joint transaction from July 15. Dr Chiranjibi Nepal, Governor of NRB inaugurated the joint transaction amid a program on Thursday.', 'content' => '<p style="text-align: justify;">July 15: Sunrise Bank Ltd has acquired Narayani National Finance and has started joint transaction from July 15. Dr Chiranjibi Nepal, Governor of NRB inaugurated the joint transaction amid a program on Thursday.</p> <p style="text-align: justify;">In the program, Laxmi Das Manadhar, Chairman of National Finance handed over the registration paper of the finance to Moti Lal Dugadh, Chairman of Sunrise Bank. The bank informed of starting joint transaction with separate programs in all the branches of the finance. On the occasion, Dr Nepal greeted the bank and expressed the belief that the bank will further strengthen its position in the financial market. </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3813', 'image' => '20160715012608_sunrise bank.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3979', 'article_category_id' => '1', 'title' => 'Subhechha Bikas Bank to Merge with Garima Bikas Bank', 'sub_title' => '', 'summary' => 'July 15: Garima Bikas Bank, headquartered in Pokhara will merge with Subhechha Bikas Bank, headquartered in Narayanghat. The merger proposal was approved in the special general meeting of Garima Bikas Bank held on July 14.', 'content' => '<p style="text-align: justify;">July 15: Garima Bikas Bank, headquartered in Pokhara will merge with Subhechha Bikas Bank, headquartered in Narayanghat. The merger proposal was approved in the special general meeting of Garima Bikas Bank held on July 14.</p> <p style="text-align: justify;">Garima is a national level bank whereas Subhechha is operating in three districts only. The paid-up capital of merged bank will be Rs 1.8 billion. Currently, the paid-up capitals of Garima and Subhechha are about Rs 850 million and Rs 220 million respectively. After merger, the bank will have one extension counter and 37 branches. Issuing a press statement, the banks informed that the share swap ratio of 1:1 has been decided and the bank will function in the name of Garima Bikas Bank. The SGM also approved to transfer the central office of the bank to Lazimpat, Kathmandu from Pokhara-9, Mahendrapool.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3812', 'image' => '20160715122234_garima.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3978', 'article_category_id' => '1', 'title' => 'Bank of Kathmandu Lumbini Starts Operation', 'sub_title' => '', 'summary' => 'July 15: Bank of Kathmandu (BOK) and Lumbini Bank have merged with each other and started operation with the name of Bank of Kathmandu Lumbini Ltd. After annual general meetings of both banks endorsed the merger proposal, they got the final approval for merger from Nepal Rastra Bank on July 8. The both banks ha', 'content' => '<p style="text-align: justify;">July 15: Bank of Kathmandu (BOK) and Lumbini Bank have merged with each other and started operation with the name of Bank of Kathmandu Lumbini Ltd. After annual general meetings of both banks endorsed the merger proposal, they got the final approval for merger from Nepal Rastra Bank on July 8. The both banks had signed the agreement paper and submitted the joint application to NRB last year for the merger. After merger, the paid-up capital of bank has reached Rs 4.57 billion. The share swap ratio of BOK and Lumbini bank was decided to 1:0.83 ratio.</p> <p style="text-align: justify;">Satya Narayan Manandhar, Chairman of BOK and Ajay Shrestha, CEO of BOK will be the Chairman and CEO of new entity too.</p> <p style="text-align: justify;">According to Manandhar, he aims to make the newly merged bank to the top 5 banks of Nepal. Speaking in the program, Chiranjivi Nepal, Governor of NRB suggested of investing in far-western region stating 60 percent people of the country are deprived from banking financial services. He added, "After merger, the bank has become more competitive and can show its presence in national level. Let’s utilise the investment opportunities inside the country."</p> <p style="text-align: justify;">After merger, the number of branches and ATMs has reached 74 and 63. Similarly, the bank has Rs 62 billion in deposits and loans of Rs 54 billion. </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3811', 'image' => '20160715115924_bok.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3977', 'article_category_id' => '1', 'title' => 'Private Sector Favourable Monetary Policy', 'sub_title' => '', 'summary' => 'July 15: NRB has addressed the issues raised by private sector through the monetary policy for the upcoming FY. Addressing the demand of private sector, NRB has increased the limit of multi-bank loans to be converted to consortium loans to 1 billion from Rs 500 million. Private sector had been dissatisfied on previous NRB directive of c', 'content' => '<p style="text-align:justify">July 15: NRB has addressed the issues raised by private sector through the monetary policy for the upcoming FY. Addressing the demand of private sector, NRB has increased the limit of multi-bank loans to be converted to consortium loans to 1 billion from Rs 500 million. Private sector had been dissatisfied on previous NRB directive of converting multi-bank loan of Rs 500 million to consortium loan.</p> <p style="text-align:justify">“We do not need to criticise monetary policy now. Our demands have been addressed,” said businessman Kamlesh Kumar Agrawal. Businessmen are pleased on fulfilled demand with no additional strategic mechanisms. NRB has also given concession to business sector on mandatory payment through cheque on transaction above Rs 5 million which has now reduced to Rs 3 million. Business sector believed that the provision will reduce the risk of cash economy and promote economy based on financial tools rather than based on cash.</p> <p style="text-align:justify"><strong>Tightened valuation of shares</strong></p> <p style="text-align:justify">NRB has tightened extension of loans on share collateral. Now onwards, banks can extend loans up to maximum of 50 percent of the total value of share based on the average price of the share in the last 180 days or prevailing market price whichever is less. The provision will certainly reduce the loan amount investors are getting right now on share collateral.</p> <p style="text-align:justify">“Investors were nervous on possible limitation NRB could set on loans provided by the banks. But as limit has been set on valuation of collateral, it might not have big effect,” said Anjan Raj Poudel, a share broker. As of mid-April, banks and financial institutions have extended less than 3 percent loans on the sector. However, NRB has sustained the same provision for BFIs on extending loans on share.</p> <p style="text-align:justify">NRB has also tightened real estate loans. The banks can issue real estate loans up to 50 percent of the total value of the collateral. Earlier, such limit was 60 percent. However, NRB has kept the provision of issuing residential house loan up to Rs 10 million constant. Presently, the banks can issue such loans up to 60 percent of the collateral.</p> <p style="text-align:justify"><strong>Investors of Microfinance disappointed</strong></p> <p style="text-align:justify">As expected by many share investors, the monetary policy has not formulated any mechanism for paid-up capital increment of microfinance companies. Investors were expecting 4 folds capital increment of national level microfinance companies and by 2 folds of other microfinance companies. However, NRB has increased minimum paid-up capital to Rs 600 million of the microfinance that provides retail loans by mid-July 2018. Based on the provision, only Sana Kishan Microfinance Company, RSDC, First Microfinance and RMDC have to increase their paid-up capital to Rs 600 million.</p> <p style="text-align:justify">Apart from this, the monetary policy has also set the spread rate limit for microfinance companies in a bid to control loan interest rate. Micro finance companies will have to maintain maximum of 7 percent spread rate on their capital expenditure for loan extension. According to the third quarter reports, the companies have only 3-8 percent capital expenditure. Based on this, the loan interest rate in microfinance companies will limit to 15-16 percent. Dharma Raj Pandey, Chairman of Nepal Microfinance Bankers Association said that the mechanism will affect the microfinance sector. Presently, microfinance companies are criticised for charging above 22 percent interest rate on loans.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-15', 'modified' => '2016-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '3810', 'image' => '20160715113258_monetary_policy.jpg', 'article_date' => '2016-07-15 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3976', 'article_category_id' => '1', 'title' => 'Monetary Policy for the Upcoming FY Unveiled', 'sub_title' => '', 'summary' => 'July 14: Nepal Rastra Bank (NRB) has unveiled the monetary policy for the upcoming FY 2016/17 in a bid to achieve targets announced by the government on the recent budget speech.', 'content' => '<p style="text-align:justify">July 14: Nepal Rastra Bank (NRB) has unveiled the monetary policy for the upcoming FY 2016/17 in a bid to achieve targets announced by the government on the recent budget speech.</p> <p style="text-align:justify">Dr Chiranjibi Nepal, Governor of NRB unveiled the monetary policy amid a program in the capital today.</p> <p style="text-align:justify">The monetary policy has aimed to limit inflation to 7.5 per cent. Similarly, it has targeted economic growth of 6.5 per cent for the upcoming FY. Likewise, it has predicted internal loan expansion of 25 percent and private sector’s loan extension of 20 percent. The monetary policy has extended time-period of maintaining mandatory cash reserve from one week to two week.</p> <p style="text-align:justify">For the first time, NRB has planned of implementing interest rate corridor through the monetary policy. The policy has prioritised flow of capital to various productive sectors including agriculture, energy, tourism, small and cottage industries as well as underprivileged population.</p> <p style="text-align:justify"> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3809', 'image' => '20160714053032_20160714045421_fdsfsd.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3975', 'article_category_id' => '1', 'title' => 'Able Perfect's 'Best Choice' Cooking Oil in Market', 'sub_title' => '', 'summary' => 'July 14: Shiva Traders of Birgunj, the authorised dealer of Able Perfect Sbn Bhd of Malaysia has launched 'Best Choice' cooking oil in the Nepali market.', 'content' => '<p style="text-align: justify;">July 14: Shiva Traders of Birgunj, the authorised dealer of Able Perfect Sbn Bhd of Malaysia has launched 'Best Choice' cooking oil in the Nepali market.</p> <p style="text-align: justify;">According to Shiva Goyal, operator of the company, the company avails 15 litres packed tin of refined palmolein cooking oil in the market as well as in the package of one liter. The company informed of launching two liters of Sunflower oil in 'Choice' brand in the market before this. The products of Able Perfect are available in 93 countries across the world.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3808', 'image' => '20160714040405_20160714021709_Choice oil.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3974', 'article_category_id' => '1', 'title' => 'TVS Annual Dealer Conference', 'sub_title' => '', 'summary' => 'July 14: Jagadamba Motors held their Annual Dealer Conference 2016-17 with the slogan “Together We Grow Stronger” from 12th to 14th July in Kathmandu. The company unveiled five new products of TVS and conducted motivational training, informed about its plans for the future and the understanding of business. Shanker group’s Jagdamba Motors is the sole authorized distributor of TVS Motor Company in Nepal.', 'content' => '<p style="text-align: justify;">July 14: Jagadamba Motors held their Annual Dealer Conference 2016-17 with the slogan<em> “Together We Grow Stronger”</em> from 12<sup>th</sup> to 14<sup>th</sup> July in Kathmandu. The company unveiled five new products of TVS and conducted motivational training, informed about its plans for the future and the understanding of business. Shanker group’s Jagdamba Motors is the sole authorized distributor of TVS Motor Company in Nepal.</p> <p style="text-align: justify;">The company introduces 'TVS Wego' with Combi Brakes, 'TVS-Excel 100' ,TVS Dazz, TVS Victor and TVS King in the market.</p> <p style="text-align: justify;">The program was initiated by Shahil Agarwal, the Managing Director of Jagdamba Motors. Likewise the program was conducted in the presence of Auro Ashish Chaudary (General Manager), SP Krishna Kumar (AGM- Service) and Arun Kumar (AGM) of TVS Motor Company, India.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3807', 'image' => '20160714020743_tvs.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3973', 'article_category_id' => '1', 'title' => 'NRB Announcing Monetary Policy Today', 'sub_title' => '', 'summary' => 'July 14: NRB which was preparing to bring monetary policy for the FY 2073/74 since last one week will be announcing it on Thursday. Dr Chiranjibi Nepal, Governor of the NRB will be broadcasting the monetary policy of the coming FY this afternoon.', 'content' => '<p style="text-align:justify">July 14: NRB which was preparing to bring monetary policy for the FY 2073/74 since last one week will be announcing it on Thursday. Dr Chiranjibi Nepal, Governor of the NRB will be broadcasting the monetary policy of the coming FY this afternoon.</p> <p style="text-align:justify">Various remarks have been gathering in the financial sector regarding the monetary policy which has already been delayed. NRB will be formulating policies related with capital expansion of micro finance companies, mechanism regarding interest rate corridor, liquidity management and other issues. </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3806', 'image' => '20160714013421_20160714010300_NRB.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3972', 'article_category_id' => '1', 'title' => 'Sagarmatha Insurance to distribute 23.75 % bonus share', 'sub_title' => '', 'summary' => 'July 14: The 19th annual general meeting (AGM) of Sagarmatha Insurance has endorsed the proposal of distributing 23.75 percent bonus share and 1.25 percent cash dividend for tax provision to its shareholders. The AGM was held under the chairmanship of Ram Krishna Manandhar, Chairman of the company at Trade Tower Nepal, Kathmandu on July 12.', 'content' => '<p style="text-align: justify;">July 14: The 19<sup>th</sup> annual general meeting (AGM) of Sagarmatha Insurance has endorsed the proposal of distributing 23.75 percent bonus share and 1.25 percent cash dividend for tax provision to its shareholders. The AGM was held under the chairmanship of Ram Krishna Manandhar, Chairman of the company at Trade Tower Nepal, Kathmandu on July 12.</p> <p style="text-align: justify;">In the AGM, Manandhar presented the annual report of the FY 2071/72 that shows 5.13 percent increment in its total transaction during the year. According to the report, the company has earned Rs 1.02 billion premium and Rs 75 million net profit in the FY 2071/72.</p> <p style="text-align: justify;">Similarly, Manandhar informed of earning Rs 1.09 million insurance premium by the end of current FY. “A total of 3015 insurance claims have been made for compensation due to the devastating earthquake of last year. Among the claims, 2551 claims have been cleared compensating Rs 1.16 billion to the clients. Remaining claims are in process of clearing,” he informed.</p> <p style="text-align: justify;">Sagarmatha Insurance has been providing its services through 32 branches with the possible extension in the feasible region in upcoming days. </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3805', 'image' => '20160714121238_sagar.JPG', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3971', 'article_category_id' => '1', 'title' => 'Nabil Bank Marks 32nd Anniversary', 'sub_title' => '', 'summary' => 'July 14: Nabil Bank has celebrated its 32nd anniversary organising different programs on July 12. On the occasion, the commercial bank distributed various necessities like wheel chairs, water dispenser machines, and sports items to the physically and mentally disabled children and old aged people at Conflict Victim & Disabled Society-Nepal (CVDS-Nepal). ', 'content' => '<p style="text-align: justify;">July 14: Nabil Bank has celebrated its 32<sup>nd</sup> anniversary organising different programs on July 12. On the occasion, the commercial bank distributed various necessities like wheel chairs, water dispenser machines, and sports items to the physically and mentally disabled children and old aged people at Conflict Victim & Disabled Society-Nepal (CVDS-Nepal). Shambhu Prasad Poudel, Chairman of the bank, Dayaram Gopal Agrawal, Director and Ramesh Prasad Lohani, Assistant General Manager handed over the materials to the CVDS-Nepal.</p> <p style="text-align: justify;">Issuing a press statement the bank informed of undertaking various activities in various areas like education, science and technology, sports, health, art and literature under its corporate social responsibility. Currently, the bank provides financial services through 52 branches, 90 ATMs and more than 1400 Nabil remittance agents.</p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3804', 'image' => '20160714115741_nabil.jpg', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3970', 'article_category_id' => '1', 'title' => 'Lenovo Introduces 4 New Smartphone', 'sub_title' => '', 'summary' => 'July 14: LifeCom Pvt Ltd, the authorised distributor of Lenovo Smartphone for Nepal, has introduced four new models of Lenevo smart phone in the Nepali market.', 'content' => '<p style="text-align:justify">July 14: LifeCom Pvt Ltd, the authorised distributor of Lenovo Smartphone for Nepal, has introduced four new models of Lenevo smart phone in the Nepali market.</p> <p style="text-align:justify">Issuing a press statement, the company informed of launching lenovo smart phone models of Vibe K3 Note, Vibe K4 note, Vibe P1m, and Vibe C during the Lenovo Partners meet. It has been informed that except for Vibe C the other smartphones fall in the medium price range category.</p> <p style="text-align:justify">According to the company, all of the models support android Lollipop operating software. The handsets have fast and powerful processor, which supports dual Sim with dual stand-by.</p> <p style="text-align:justify">The company which is globally known for the production of laptops, has been providing its customers with quality smartphones, tablets, smart TV's amongst others. The company informs that it has bagged the 4th position around the globe and is gradually increasing. The brand has made a good start by bringing in budget phones.</p> <p style="text-align:justify">Besides the announcement of new model, the company also introduced cashcount scheme. Under the scheme, the buyer will get a scratch card which ensures sure shot cash prize of an amount ranging from Rs 500 to Rs 1,00,000.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-07-14', 'modified' => '2016-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '3803', 'image' => '20160714112102_lenovo.JPG', 'article_date' => '2016-07-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3969', 'article_category_id' => '1', 'title' => 'Government to Make CSR Mandatory', 'sub_title' => '', 'summary' => 'July 13: The government is making corporate social responsibility (CSR) mandatory for all types of industries. The bill formulated to amend and combine the acts of industrial enterprises has proposed mandatory allocation of particular amount from the total transaction of any industrial ent', 'content' => '<p>July 13: The government is making corporate social responsibility (CSR) mandatory for all types of industries. The bill formulated to amend and combine the acts of industrial enterprises has proposed mandatory allocation of particular amount from the total transaction of any industrial enterprises.</p> <p>In the bill, provision of at least 0.5 percent allocation of annual total transaction for CSR has been proposed to the enterprises that has more than Rs 150 million annual turnovers. The provision mentions that the amount should be spent in the selected sector by the industry formulating annual plans and programs. A detail report of the amount allocated and the program selected by the industry for CSR has to be submitted to the government within the three months from the end of FY.</p> <p>However, industrialist and entrepreneurs has demanded allocation of fund for CSR from profit rather than transaction amount. They expressed their opinion in the bill discussion meeting jointly organised by Ministry of Industries and Federation of Nepalese Chamber of Commerce and Industries (FNCCI). “If any industry spent the allocated amount in environment conservation, it has to be deducted as CSR,” says FNCCI President Pashupati Murarka.</p> <p>According to the industrialists, it is unpractical for industries to formulate programs by themselves for CSR. They have demanded a mechanism allowing them to grant the money to any particular department or organisations. </p> ', 'published' => true, 'created' => '2016-07-13', 'modified' => '2016-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '3802', 'image' => '20160713022054_csr.jpg', 'article_date' => '2016-07-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3968', 'article_category_id' => '1', 'title' => 'IDBL Endorses 1:0.73 Swap Ratio', 'sub_title' => '', 'summary' => 'July 13: The Special General Meeting (SGM) of International Development Bank Limited (IDBL) has endorsed the proposed 1:0.73 swap ratio for the merger with Nepal Credit and Commerce, Infrastructure Development, Apex Development and Supreme D', 'content' => '<p style="text-align: justify;">July 13: The Special General Meeting (SGM) of International Development Bank Limited (IDBL) has endorsed the proposed 1:0.73 swap ratio for the merger with Nepal Credit and Commerce, Infrastructure Development, Apex Development and Supreme Development Bank. The SGM held on July 12 passed the swap ratio resulted from the assets and liabilities valuation report of merger banks. The SGM has endorsed 100 units share of IDBL equals to 73 unit shares of Nepal Credit and Commerce Bank as per the valuation report.</p> ', 'published' => true, 'created' => '2016-07-13', 'modified' => '2016-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '3801', 'image' => '20160713123304_idbl.jpg', 'article_date' => '2016-07-13 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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
