June 26: Share investors will get the chance to invest in the three major hydropower companies namely United Modi Hydropower, Synergy Hydropower Development and Api Hydropower in the short span of period. Among the three, United Modi and Synergy is issuing primary shares for general shareholders whereas Api Hydropower is issuing right shares to the existing…
June 26: Nepal-Bangkok Festival 2016 will be organised in the capital on the first week of October in a bid to expand bilateral relation between Nepal and Thailand. The information has been disseminated amid a press conference organised in the valley on June…
June 26: Mercantile Exchange Nepal (MEX) has announced the launch of delivery of fresh hen eggs. The eggs are symbolised as EGGL and EGGM. According to MEX Nepal, EGGL stands for large sized egg while EGGM denotes as medium sized ones. The launching marks the first agro product with delivery…
June 26: Pranam Automobile Pvt. Ltd, an authorized service center of Mahindra has opened a service centre at Sitapaila, Kathmandu. Cabinet Shrestha, Managing Director of Agni Group and Arjun Prasad Sharma, Executive Director of the company jointly inaugurated the new showroom amid a program on…
June 26: Berger paints has brought the Berger Home Shield Waterproof Putty for the first time in the Nepali market. The company claimed that Berger is the first and only company that has brought this kind of product in the…
June 26: Qatar Airways observed the holy month of Ramadan by hosting an Iftar dinner with a secular congregation at Hotel Yak & Yeti, Kathmandu. The dinner saw distinguished guests from Nepal Government, Nepal Hajj Committee, dignitaries from different religions and delegates from different embassies. The company, issuing a press release informed that the Iftar dinner had special Arabic cuisine selection.…
June 26: IME Automotives Pvt. Ltd. (IMEA), an automobile trading subsidiary under IME Group, celebrated its 8th anniversary on 24 June 2016. Issuing a press statement, the company informs that IMEA, which started its operation from 2009 AD, is the sole authorized distributor of Escorts brand of Construction Equipments under prestigious Escorts Group of…
June 26: IME Automotives Pvt Ltd, the authorized distributor of USA originated UM brand of two wheelers for Nepal, has conducted a Test Ride session in Bhaktapur Showroom. Issuing a press statement, the company informs that the test ride session is a part of their ongoing Test Ride programs in various parts in and around the capital, including neighboring Bhaktapur and…
June 24: In the wake of United Kingdom’s historic referendum to leave the European Union (EU), major markets across the globe have plunged in levels unseen prior to the global financial crisis of 2008. With the voters in the world’s fifth largest economy favouring to leave the EU,…
June 24: Siddhartha Bank Limited has appointed Laxmi Capita Marketing Limited as its issue manager. The agreement has been made as the bank plans to issue right shares in the ratio of 4:1. Rajib Sapkota, CEO of Siddhartha Bank and Jhola Nath Dhungana, Secretary of Laxmi Capital signed on the agreement on behalf of their respective institutions on June 22.…
June 24: Federation of Contractor's Association of Nepal (FCAN) has welcomed the parliamentary endorsement of the first amendment of Public Procurement Act, 2063. Issuing a press statement, FCAN mentioned that it has welcomed the amendment despite having disagreement as it includes positive achievements such as discouraging of low-biddings and eliminating pre-qualification for small construction…
June 24: Nepal has imported Rs 24.37 billion worth of medicines by the 11 months of the current fiscal year. As per the statistics of 11 month publicised by the custom department, the import of medicine from India along with other countries has increased by 10 percent in the review period in comparison to same period of the last FY. The import of medicine had amounted to Rs 19.29 billion in the same period of the last…
June 24: The Insurance Board (IB), the insurance sector regulator has changed the foreign employment (term) life insurance premium. IB Director, Shreeman Karki informed that the insurance premium rate that was fixed to be implemented from mid-April has been decreased by 20 percent. According to him, the premium cost has been decreased as the IB has barred insurers from extending agent commission on sales of foreign employment (term) life insurance policies.…
June 24: Loan investment of commercial banks has reached all time high in the 11 months of current FY. The 29 commercial banks operating in the country have invested Rs 1327 billion loans till mid-June. “Loans of commercial banks have increased by 46 billion in the last one month. Apparently, it has increased by 11 billion in the second week of June only,” says Bhuwan Dhahal, CEO of Sanima…
June 24: Sunrise Bank Limited (SBL) has started branchless banking service in Nepaltar, Illam. The service was inaugurated by Guru Raj Regmi, Chief of Illam branch and Gopal Prasad Kattel, Principal of Nepaltar Higher Secondary…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '3846', 'article_category_id' => '1', 'title' => 'Share Investment Opportunities in Three Hydropower Companies', 'sub_title' => '', 'summary' => 'June 26: Share investors will get the chance to invest in the three major hydropower companies namely United Modi Hydropower, Synergy Hydropower Development and Api Hydropower in the short span of period. Among the three, United Modi and Synergy is issuing primary shares for general shareholders whereas Api Hydropower is issuing right shares to the existing shareholders.', 'content' => '<p>June 26: Share investors will get the chance to invest in the three major hydropower companies namely United Modi Hydropower, Synergy Hydropower Development and Api Hydropower in the short span of period. Among the three, United Modi and Synergy is issuing primary shares for general shareholders whereas Api Hydropower is issuing right shares to the existing shareholders.</p> <p><strong>2,875,000 units of United Modi </strong></p> <p>United Modi Hydropower is issuing 2,875,000 units of primary shares worth above Rs 280 million for the general public. The company has already obtained ICRA grading of 3 from ICRA Nepal for the issue. Priced at Rs 100, the company has allocated 1150,000 units of shares for local people of affected area. Remaining shares will be allocated to general public, mutual funds and general public. The company, operating 9.9MW Lower Modi-1, is constructing 10.5MW lower modi-2. The Lower Modi-2 is being constructed as cascade project of Lower-Modi-1. The company estimates total cost of Rs 1.77 billion for the construction of Lower Modi-2. Apparently, the per mega-watt of electricity will cost Rs 169 million after the construction of the project concludes.</p> <p><strong>2,800,000 units of Synergy Power</strong></p> <p>Synergy power is also issuing 2,800,000 units of primary shares for the general public. ICRA Nepal has granted grade 4 rating which indicates of below average fundamentals for the issuance.</p> <p>Apparently, the company that is operating Siprin Hydroelectric project, is issuing primary shares in order to make payments to bank loans. Began its operation from 2013 January, the company generated electricity for 10 months before the devastating earthquake. The company has claimed Rs 210 million of insurance claims on the earthquake damages. However, surveyors have reported 70-80 percent compensation to the company.</p> <p><strong>200 percent right shares of Api Power</strong></p> <p>Api Power Company is issuing 1:2 right shares to its existing shareholders. ICRA Nepal has granted Grade 4 rating for the issuance which indicates of below average fundamentals of the company.</p> <p>The company is acquiring Siddhakali Power Limited with 80 percent of ownership. The company is issuing the right shares to construct 75MW Trishuli-Galchi project by Siddhakali Power. Presently, the group is operating four projects and additional five projects are under construction. </p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3679', 'image' => '20160626012159_hyudro.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3845', 'article_category_id' => '1', 'title' => 'Nepal-Bangkok Festival 2016 in October 1st Week', 'sub_title' => '', 'summary' => 'June 26: Nepal-Bangkok Festival 2016 will be organised in the capital on the first week of October in a bid to expand bilateral relation between Nepal and Thailand. The information has been disseminated amid a press conference organised in the valley on June 24.', 'content' => '<p>June 26: Nepal-Bangkok Festival 2016 will be organised in the capital on the first week of October in a bid to expand bilateral relation between Nepal and Thailand. The information has been disseminated amid a press conference organised in the valley on June 24.</p> <p>Issuing a press release, it has been informed that the Nepal-Bangkok Festival 2016 will be organized by Siam Lanchak Bangkok in collaboration with Thai Embassy of Nepal and Lalitpur Industrial Commercial Association. The organizer informs that more than 150 commercial institutions from Nepal and Bangkok will be participating in the festival. </p> <p>Speaking at the conference, Vutti Vuttisant, Thai ambassador said," I believe the festival that is going to be held in Kathmandu will enhance the commercial relationship between the two countries. It will also play an important role in bringing investment from Thailand."</p> <p>In the festival, entrepreneurs of both nations will exhibit and sell products of various categories such as readymade costumes, plasticmade stuffs, ceramics, food and edible items. Additionally, the exhibition will also have stalls on leather products, textiles, medical products, cosmetics, shoes sandals and electronic items.</p> <p>Likewise, the organizers claimed that the visitors will be attracted to handicraft products, technological services, readymade food items and tourism services and facilties, organiser states. According to the organiser, the festival will target traders who aim to import products from Bangkok.</p> <p> Besides these, the organizer believes that the festival will play key role in exchange of advanced technologies of the two nations.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3678', 'image' => '20160626010255_nb.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3844', 'article_category_id' => '1', 'title' => 'MEX Nepal Starts Eggs Delivery', 'sub_title' => '', 'summary' => 'June 26: Mercantile Exchange Nepal (MEX) has announced the launch of delivery of fresh hen eggs. The eggs are symbolised as EGGL and EGGM. According to MEX Nepal, EGGL stands for large sized egg while EGGM denotes as medium sized ones. The launching marks the first agro product with delivery logic.', 'content' => '<p>June 26: Mercantile Exchange Nepal (MEX) has announced the launch of delivery of fresh hen eggs. The eggs are symbolised as EGGL and EGGM. According to MEX Nepal, EGGL stands for large sized egg while EGGM denotes as medium sized ones. The launching marks the first agro product with delivery logic.</p> <p>The Exchange, issuing a press statement, states that the addition of the agricultural products in the online platform as a milestone that re-establishes the core objective of a commodity exchange. The Exchange already has a lineup of deliverable products such as 10 gram gold, 20 kg and one kg silver.</p> <p>“MEX Nepal has partnered with New Bhairab Poultry Firm situated at Dumkibaas, Nawalparasifor this product which is available in two varieties -fresh hen egg large and fresh hen egg medium,” reads the statement. According to the Exchange, the deliverable egg is available in a box containing seven crates with 30 eggs in each crate. Large and medium eggs are categorized on the basis of weight of each box. “The quality of egg is assured with no cracks and broken eggs, no blood and meat spots. Customers can initiate their position with a very low margin amount for these contracts,” informs the Exchange.</p> <p> </p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3677', 'image' => null, 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3843', 'article_category_id' => '1', 'title' => 'Mahindra’s Service Center at Sitapaila', 'sub_title' => '', 'summary' => 'June 26: Pranam Automobile Pvt. Ltd, an authorized service center of Mahindra has opened a service centre at Sitapaila, Kathmandu. Cabinet Shrestha, Managing Director of Agni Group and Arjun Prasad Sharma, Executive Director of the company jointly inaugurated the new showroom amid a program on Thursday.', 'content' => '<p style="text-align: justify;">June 26: Pranam Automobile Pvt. Ltd, an authorized service center of Mahindra has opened a service centre at Sitapaila, Kathmandu. Cabinet Shrestha, Managing Director of Agni Group and Arjun Prasad Sharma, Executive Director of the company jointly inaugurated the new showroom amid a program on Thursday. Issuing a press statement, the company informs that the service facility at Pranam will be available for seven days and 24 hours like in other service centers. Issuing a press release the company said that along with the den paint, the maintenance and repair of car in Pranam will be done using the modern technology.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3676', 'image' => '20160626113833_mahindra.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3842', 'article_category_id' => '1', 'title' => 'Bergers’ Waterproof Putty Launched', 'sub_title' => '', 'summary' => 'June 26: Berger paints has brought the Berger Home Shield Waterproof Putty for the first time in the Nepali market. The company claimed that Berger is the first and only company that has brought this kind of product in the market.', 'content' => '<p>June 26: Berger paints has brought the Berger Home Shield Waterproof Putty for the first time in the Nepali market. The company claimed that Berger is the first and only company that has brought this kind of product in the market.</p> <p>According to the company, the main feature of Waterproof Putty is to secure the wall stopping the water leakage. Issuing a press release, the company informed that the putty will increases the beauty of the wall and also decreases the color consumption. </p> <p><img alt="" src="/userfiles/images/berger.jpg" style="height:789px; width:628px" /></p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3675', 'image' => null, 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3841', 'article_category_id' => '1', 'title' => 'Qatar Airways hosts Iftar Dinner', 'sub_title' => '', 'summary' => 'June 26: Qatar Airways observed the holy month of Ramadan by hosting an Iftar dinner with a secular congregation at Hotel Yak & Yeti, Kathmandu. The dinner saw distinguished guests from Nepal Government, Nepal Hajj Committee, dignitaries from different religions and delegates from different embassies. The company, issuing a press release informed that the Iftar dinner had special Arabic cuisine selection. ', 'content' => '<p style="text-align:justify">June 26: Qatar Airways observed the holy month of Ramadan by hosting an Iftar dinner with a secular congregation at Hotel Yak & Yeti, Kathmandu. The dinner saw distinguished guests from Nepal Government, Nepal Hajj Committee, dignitaries from different religions and delegates from different embassies. The company, issuing a press release informed that the Iftar dinner had special Arabic cuisine selection. Ramadan is the ninth month of the lunar calendar, and the month in which Muslims believe the Holy Quran was revealed. The month is spent by Muslims fasting during the daylight hours from dawn to sunset.</p> <p style="text-align:justify">“Qatar Airways, at the time of Ramadan, has tradition of offering fasting travelers a delicious and healthy Iftar meal box featuring nutritious snacks, inspired by Middle Eastern cuisine, to break their fast. Each box features inspiring messages about the meaning of Ramadan, providing all passengers with an interesting insight in to this special time of celebration for Muslims,” reads the statement. Qatar Airways flies three flights a day to Kathmandu from its hub in Doha and connects the city to more than 150 destinations around the globe. The year’s holy month of Ramadan started in the evening of Sunday, June 5 2016 and will continue for 30 days until the evening of Tuesday, July 5 2016.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3674', 'image' => '20160626110510_qatar.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3840', 'article_category_id' => '1', 'title' => 'IME Automotives in 8th Year', 'sub_title' => '', 'summary' => 'June 26: IME Automotives Pvt. Ltd. (IMEA), an automobile trading subsidiary under IME Group, celebrated its 8th anniversary on 24 June 2016. Issuing a press statement, the company informs that IMEA, which started its operation from 2009 AD, is the sole authorized distributor of Escorts brand of Construction Equipments under prestigious Escorts Group of India', 'content' => '<p>June 26: IME Automotives Pvt. Ltd. (IMEA), an automobile trading subsidiary under IME Group, celebrated its 8<sup>th</sup> anniversary on 24 June 2016. Issuing a press statement, the company informs that IMEA, which started its operation from 2009 AD, is the sole authorized distributor of Escorts brand of Construction Equipments under prestigious Escorts Group of India. It is also exclusive distributor for Nepal for UM brand of two wheelers under UM International LLC., a brand originated from USA.</p> <p>As a part of celebration of the 8<sup>th</sup> anniversary, the company had a small gathering of in-house employees in its corporate office at Panipokhari ,IME Complex. Speaking at the gathering, Mr. Kapil Shiwakoti, CEO, IMEA, conveyed a special gratitude message to the human resources for their support and hard work throughout the years since starting.</p> <p>“The new stride to its wing is added by acquiring the nationwide distributorship of World-class brand dealing in commercial vehicles, Ashok Leyland carrying more than ten decades of expertise,” reads the statement.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3673', 'image' => '20160626105527_ime motors.JPG', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3838', 'article_category_id' => '1', 'title' => 'IMEA Organizes Test Ride around Kathmandu', 'sub_title' => '', 'summary' => 'June 26: IME Automotives Pvt Ltd, the authorized distributor of USA originated UM brand of two wheelers for Nepal, has conducted a Test Ride session in Bhaktapur Showroom. Issuing a press statement, the company informs that the test ride session is a part of their ongoing Test Ride programs in various parts in and around the capital, including neighboring Bhaktapur and Patan.', 'content' => '<p>June 26: IME Automotives Pvt Ltd, the authorized distributor of USA originated UM brand of two wheelers for Nepal, has conducted a Test Ride session in Bhaktapur Showroom. Issuing a press statement, the company informs that the test ride session is a part of their ongoing Test Ride programs in various parts in and around the capital, including neighboring Bhaktapur and Patan. According to the company, each location has been selected on the basis of major communities, junctions, and hubs in each city as well as colleges to cater young crowd who prefer powerful andstylish bikes in affordable prices. According to the company, the event will allow the bike enthusiasts to experience the superior performance of UM Bikes.</p> <p>“The company next plans to visit Nakhipot, Lalitpur on Monday, June 27<sup>th</sup>, 2016, and will consecutively make their visits to Nagbahal, Patan (Saturday, July 2<sup>nd</sup>2016), Morgan International College, Basundhara (Tuesday, July 5<sup>th</sup> 2016), Kings College, Babarmahal (Friday, July 8<sup>th</sup> 2016),” reads the statement.</p> <p>The major bikes that were put up to display and test ride were UM's leading Powermax 125, Nitrox 125, Ren Duty 125, Ren Sports 140, and DSR 200.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3671', 'image' => '20160626104505_ime 2.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3837', 'article_category_id' => '1', 'title' => 'Brexit Rattles Global Markets', 'sub_title' => '', 'summary' => 'June 24: In the wake of United Kingdom’s historic referendum to leave the European Union (EU), major markets across the globe have plunged in levels unseen prior to the global financial crisis of 2008. With the voters in the world’s fifth largest economy favouring to leave the EU, ', 'content' => '<p>June 24: In the wake of United Kingdom’s historic referendum to leave the European Union (EU), major markets across the globe have plunged to levels unseen since the global financial crisis of 2008. With the voters in the world’s fifth largest economy favouring to leave the EU, investors are panicked over the underlying uncertainties the global economy is likely to face in the upcoming days. The referendum held on Thursday, June 23 was marked by the Leave campaign securing a win of narrow margin against the Remain. Out of the eligible voters, 51.9 percent voted end the UK’s 40-year association with EU while 41.8 percent cast their ballots in favour of Britain to remain within the 28-nation union. FTSE 100, the benchmark index of UK’s capital market witnessed a freefall registering multi-years lows on Friday’s trading. The index nosedived 8.5 percent during the early hours of trading wiping out nearly UK Pound 120 billion worth of assets of the 100 biggest British companies. Similarly, the Pound also plummeted to a 31 year low. The currency saw largest drop in its value against the US Dollar since 1985 on Friday. Other major markets across Europe and Asia witnessed steepest declines setting off alarms of a possible market meltdown. According to analysts, the global markets have logged a decline of 8 percent, all told. The ‘Black Friday’, as analysts are calling it, has wiped hundreds of billions of Dollars worth of assets in a single day.</p> <p>Meanwhile, investors have flocked to safe haven assets to avert the possible losses. Following the Brexit vote, price of gold soared sharply on Friday. The yellow metal jumped 8.1 percent to USD 1358.54 per oz, the highest since March 2014. Likewise, US Dollar and the Japanese Yen also soared as investors seek to security from safe haven assets. Price of oil, meanwhile, tanked 4 percent on Friday.</p> <p><strong>NPR Depreciates by 2 Rupees in a Single Day </strong></p> <p>Though Nepali economy is insulated from Brexit, the country is expected to take some indirect hit from the event. The sharp rise in US Dollar has caused depreciation of the Nepali currency. The forex rate was set for Rs 109.30 against USD 1 on Friday. Nepal Rastra Bank (NRB) has set the rate for Saturday and Sunday at Rs 109. The forex rate jumped Rs 2 on Friday which was earlier set for Rs 107.96. Likewise, gold also spiked in the local market by Rs 3,000 per tola on Friday. Analysts say that the uncertainty surrounding the UK’s exit from EU has led to the volatility in the markets resulting in the demand of gold and other safe haven assets to rise in short and mid-terms.</p> <p><br /> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3670', 'image' => '20160624063438_brexit.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3836', 'article_category_id' => '1', 'title' => 'Siddhartha Bank Appoints Laxmi Capital as Issue Manager', 'sub_title' => '', 'summary' => 'June 24: Siddhartha Bank Limited has appointed Laxmi Capita Marketing Limited as its issue manager. The agreement has been made as the bank plans to issue right shares in the ratio of 4:1. Rajib Sapkota, CEO of Siddhartha Bank and Jhola Nath Dhungana, Secretary of Laxmi Capital signed on the agreement on behalf of their respective institutions on June 22. ', 'content' => '<p>June 24: Siddhartha Bank Limited has appointed Laxmi Capita Marketing Limited as its issue manager. The agreement has been made as the bank plans to issue right shares in the ratio of 4:1. Rajib Sapkota, CEO of Siddhartha Bank and Jhola Nath Dhungana, Secretary of Laxmi Capital signed on the agreement on behalf of their respective institutions on June 22. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3669', 'image' => '20160624041415_sidd.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3835', 'article_category_id' => '1', 'title' => 'FCAN Welcomes Amendment of Public Procurement Act', 'sub_title' => '', 'summary' => 'June 24: Federation of Contractor's Association of Nepal (FCAN) has welcomed the parliamentary endorsement of the first amendment of Public Procurement Act, 2063. Issuing a press statement, FCAN mentioned that it has welcomed the amendment despite having disagreement as it includes positive achievements such as discouraging of low-biddings and eliminating pre-qualification for small construction companies.', 'content' => '<p>June 24: Federation of Contractor's Association of Nepal (FCAN) has welcomed the parliamentary endorsement of the first amendment of Public Procurement Act, 2063. Issuing a press statement, FCAN mentioned that it has welcomed the amendment despite having disagreement as it includes positive achievements such as discouraging of low-biddings and eliminating pre-qualification for small construction companies.</p> <p>The contractors also demanded the implementation of Prime Minister’s earlier commitment of extending the deadline of the projects that were disrupted due to the last year's devastating earthquake, Indian border blockade and Tarai stir by one year. As per the FCAN's statement, due to cease in the deadline contractors are facing difficulties, as the public bodies have started to cease the bid bonds, black-listing and levying charges against the builders. FCAN also threatened to start agitation if PM's commitment is not implemented. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3668', 'image' => '20160624040815_Clipboard01.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3834', 'article_category_id' => '1', 'title' => 'Medicines Import Increases to Rs 24.5 billion', 'sub_title' => '', 'summary' => 'June 24: Nepal has imported Rs 24.37 billion worth of medicines by the 11 months of the current fiscal year. As per the statistics of 11 month publicised by the custom department, the import of medicine from India along with other countries has increased by 10 percent in the review period in comparison to same period of the last FY. The import of medicine had amounted to Rs 19.29 billion in the same period of the last FY.', 'content' => '<p>June 24: Nepal has imported Rs 24.37 billion worth of medicines by the 11 months of the current fiscal year. As per the statistics of 11 month publicised by the custom department, the import of medicine from India along with other countries has increased by 10 percent in the review period in comparison to the same period of the last FY. The import of medicine had amounted to Rs 19.29 billion in the same period of the last FY.</p> <p>Although production of domestic medicine has increased in recent time, it has not been able to replace the foreign medicines. According to the Association of Pharmaceutical Producers of Nepal (APPON), domestic medicine industries occupy only 45 percent of total medicine market in Nepal. APPON claims of producing nearly 300 types of medicines domestically. The association informs of producing medicines including injectibles and slines. Domestic industries have not been able to supply as per the demand of the market although it has grown by half-fold in a decade. Medicine import has soared due to inability of the government in promoting domestic industries,” says domestic Pharmaceuticals Producers. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3667', 'image' => '20160624034615_images.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3833', 'article_category_id' => '1', 'title' => 'Premium on Foreign Employment Life Insurance Decreased 20 %', 'sub_title' => '', 'summary' => 'June 24: The Insurance Board (IB), the insurance sector regulator has changed the foreign employment (term) life insurance premium. IB Director, Shreeman Karki informed that the insurance premium rate that was fixed to be implemented from mid-April has been decreased by 20 percent. According to him, the premium cost has been decreased as the IB has barred insurers from extending agent commission on sales of foreign employment (term) life insurance policies. ', 'content' => '<p>June 24: The Insurance Board (IB), the insurance sector regulator has changed the foreign employment (term) life insurance premium. IB Director, Shreeman Karki informed that the insurance premium rate that was fixed to be implemented from mid-April has been decreased by 20 percent. According to him, the premium cost has been decreased as the IB has barred insurers from extending agent commission on sales of foreign employment (term) life insurance policies. The Board took the decision to free foreign job seekers from financial burden of agent commission, as the foreign job-seekers are usually of low income level.</p> <p>The IB’s latest move comes almost two-and-a-half months after it doubled the coverage amount of foreign employment policies to Rs 1 million from Rs 500,000. Although the policy’s coverage had been hiked by 100 per cent, the premium cost was raised by only 65 per cent at that time. Although the premium rate has been decreased from mid-July, the insurance amount compensated to the nominee after the death of the policy owner has remained the same.</p> <p>After the implementation of changed system from April, the policyholders became entitled to compensation of Rs one million in case of death in foreign land. Before April, the amount was only Rs 5, 00,000. The decision was taken according to the recommendation made by Foreign Employment Promotion Board. However, the insurance premium differs based on age of foreign job aspirants and the tenure of the policy.</p> <p> </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3666', 'image' => '20160624011614_ib.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3832', 'article_category_id' => '1', 'title' => ' Loan Investment of Commercial Banks Reaches Highest Level', 'sub_title' => '', 'summary' => 'June 24: Loan investment of commercial banks has reached all time high in the 11 months of current FY. The 29 commercial banks operating in the country have invested Rs 1327 billion loans till mid-June. “Loans of commercial banks have increased by 46 billion in the last one month. Apparently, it has increased by 11 billion in the second week of June only,” says Bhuwan Dhahal, CEO of Sanima Bank.', 'content' => '<p style="text-align:justify">June 24: Loan investment of commercial banks has reached all time high in the 11 months of current FY. The 29 commercial banks operating in the country have invested Rs 1327 billion loans till mid-June. “Loans of commercial banks have increased by 46 billion in the last one month. Apparently, it has increased by 11 billion in the second week of June only,” says Bhuwan Dhahal, CEO of Sanima Bank.</p> <p style="text-align:justify">According to him, deposit however has not increased in compare to loans. In the second week of June, deposit collection has increased by Rs 3 billion only. Along with it, the deposit collection of the commercial banks has totalled Rs 1655 billion. The ratio of loans to deposit excluding the primary capital has reached above 80 percent. As per the bankers, there is no adequate space to increase sufficient loans because of narrow growth in deposit collection.</p> <p style="text-align:justify">As a result, bankers have increased interest rate of fixed deposit. According to a CEO of a bank, fixed deposit interest rate has reached 7 percent at present. The bankers inform that the interest rate of short term loans have also increased to 6/7 percent.</p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3665', 'image' => '20160624125406_commercial banks.JPG', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3831', 'article_category_id' => '1', 'title' => 'Sunrise Bank’s Branchless Banking in Nepaltar', 'sub_title' => '', 'summary' => 'June 24: Sunrise Bank Limited (SBL) has started branchless banking service in Nepaltar, Illam. The service was inaugurated by Guru Raj Regmi, Chief of Illam branch and Gopal Prasad Kattel, Principal of Nepaltar Higher Secondary School.', 'content' => '<p style="text-align: justify;">June 24: Sunrise Bank Limited (SBL) has started branchless banking service in Nepaltar, Illam. The service was inaugurated by Guru Raj Regmi, Chief of Illam branch and Gopal Prasad Kattel, Principal of Nepaltar Higher Secondary School.</p> <p style="text-align: justify;">Inaugurating the bank’s new service, Kattel handed over the Point of Sell Machine to the local agent Surendra Rai. The machine enables the bank to conduct deposit and payment activities to its customers even where there are no branches. Speaking on the occasion, Kattel highlighted the aim of the newly launched service. With this, the number of branchless banking service of Sunrise Bank has reached six across the country.</p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3664', 'image' => '20160624114612_sunrise.jpg', 'article_date' => '2016-06-24 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' => '3846', 'article_category_id' => '1', 'title' => 'Share Investment Opportunities in Three Hydropower Companies', 'sub_title' => '', 'summary' => 'June 26: Share investors will get the chance to invest in the three major hydropower companies namely United Modi Hydropower, Synergy Hydropower Development and Api Hydropower in the short span of period. Among the three, United Modi and Synergy is issuing primary shares for general shareholders whereas Api Hydropower is issuing right shares to the existing shareholders.', 'content' => '<p>June 26: Share investors will get the chance to invest in the three major hydropower companies namely United Modi Hydropower, Synergy Hydropower Development and Api Hydropower in the short span of period. Among the three, United Modi and Synergy is issuing primary shares for general shareholders whereas Api Hydropower is issuing right shares to the existing shareholders.</p> <p><strong>2,875,000 units of United Modi </strong></p> <p>United Modi Hydropower is issuing 2,875,000 units of primary shares worth above Rs 280 million for the general public. The company has already obtained ICRA grading of 3 from ICRA Nepal for the issue. Priced at Rs 100, the company has allocated 1150,000 units of shares for local people of affected area. Remaining shares will be allocated to general public, mutual funds and general public. The company, operating 9.9MW Lower Modi-1, is constructing 10.5MW lower modi-2. The Lower Modi-2 is being constructed as cascade project of Lower-Modi-1. The company estimates total cost of Rs 1.77 billion for the construction of Lower Modi-2. Apparently, the per mega-watt of electricity will cost Rs 169 million after the construction of the project concludes.</p> <p><strong>2,800,000 units of Synergy Power</strong></p> <p>Synergy power is also issuing 2,800,000 units of primary shares for the general public. ICRA Nepal has granted grade 4 rating which indicates of below average fundamentals for the issuance.</p> <p>Apparently, the company that is operating Siprin Hydroelectric project, is issuing primary shares in order to make payments to bank loans. Began its operation from 2013 January, the company generated electricity for 10 months before the devastating earthquake. The company has claimed Rs 210 million of insurance claims on the earthquake damages. However, surveyors have reported 70-80 percent compensation to the company.</p> <p><strong>200 percent right shares of Api Power</strong></p> <p>Api Power Company is issuing 1:2 right shares to its existing shareholders. ICRA Nepal has granted Grade 4 rating for the issuance which indicates of below average fundamentals of the company.</p> <p>The company is acquiring Siddhakali Power Limited with 80 percent of ownership. The company is issuing the right shares to construct 75MW Trishuli-Galchi project by Siddhakali Power. Presently, the group is operating four projects and additional five projects are under construction. </p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3679', 'image' => '20160626012159_hyudro.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3845', 'article_category_id' => '1', 'title' => 'Nepal-Bangkok Festival 2016 in October 1st Week', 'sub_title' => '', 'summary' => 'June 26: Nepal-Bangkok Festival 2016 will be organised in the capital on the first week of October in a bid to expand bilateral relation between Nepal and Thailand. The information has been disseminated amid a press conference organised in the valley on June 24.', 'content' => '<p>June 26: Nepal-Bangkok Festival 2016 will be organised in the capital on the first week of October in a bid to expand bilateral relation between Nepal and Thailand. The information has been disseminated amid a press conference organised in the valley on June 24.</p> <p>Issuing a press release, it has been informed that the Nepal-Bangkok Festival 2016 will be organized by Siam Lanchak Bangkok in collaboration with Thai Embassy of Nepal and Lalitpur Industrial Commercial Association. The organizer informs that more than 150 commercial institutions from Nepal and Bangkok will be participating in the festival. </p> <p>Speaking at the conference, Vutti Vuttisant, Thai ambassador said," I believe the festival that is going to be held in Kathmandu will enhance the commercial relationship between the two countries. It will also play an important role in bringing investment from Thailand."</p> <p>In the festival, entrepreneurs of both nations will exhibit and sell products of various categories such as readymade costumes, plasticmade stuffs, ceramics, food and edible items. Additionally, the exhibition will also have stalls on leather products, textiles, medical products, cosmetics, shoes sandals and electronic items.</p> <p>Likewise, the organizers claimed that the visitors will be attracted to handicraft products, technological services, readymade food items and tourism services and facilties, organiser states. According to the organiser, the festival will target traders who aim to import products from Bangkok.</p> <p> Besides these, the organizer believes that the festival will play key role in exchange of advanced technologies of the two nations.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3678', 'image' => '20160626010255_nb.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3844', 'article_category_id' => '1', 'title' => 'MEX Nepal Starts Eggs Delivery', 'sub_title' => '', 'summary' => 'June 26: Mercantile Exchange Nepal (MEX) has announced the launch of delivery of fresh hen eggs. The eggs are symbolised as EGGL and EGGM. According to MEX Nepal, EGGL stands for large sized egg while EGGM denotes as medium sized ones. The launching marks the first agro product with delivery logic.', 'content' => '<p>June 26: Mercantile Exchange Nepal (MEX) has announced the launch of delivery of fresh hen eggs. The eggs are symbolised as EGGL and EGGM. According to MEX Nepal, EGGL stands for large sized egg while EGGM denotes as medium sized ones. The launching marks the first agro product with delivery logic.</p> <p>The Exchange, issuing a press statement, states that the addition of the agricultural products in the online platform as a milestone that re-establishes the core objective of a commodity exchange. The Exchange already has a lineup of deliverable products such as 10 gram gold, 20 kg and one kg silver.</p> <p>“MEX Nepal has partnered with New Bhairab Poultry Firm situated at Dumkibaas, Nawalparasifor this product which is available in two varieties -fresh hen egg large and fresh hen egg medium,” reads the statement. According to the Exchange, the deliverable egg is available in a box containing seven crates with 30 eggs in each crate. Large and medium eggs are categorized on the basis of weight of each box. “The quality of egg is assured with no cracks and broken eggs, no blood and meat spots. Customers can initiate their position with a very low margin amount for these contracts,” informs the Exchange.</p> <p> </p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3677', 'image' => null, 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3843', 'article_category_id' => '1', 'title' => 'Mahindra’s Service Center at Sitapaila', 'sub_title' => '', 'summary' => 'June 26: Pranam Automobile Pvt. Ltd, an authorized service center of Mahindra has opened a service centre at Sitapaila, Kathmandu. Cabinet Shrestha, Managing Director of Agni Group and Arjun Prasad Sharma, Executive Director of the company jointly inaugurated the new showroom amid a program on Thursday.', 'content' => '<p style="text-align: justify;">June 26: Pranam Automobile Pvt. Ltd, an authorized service center of Mahindra has opened a service centre at Sitapaila, Kathmandu. Cabinet Shrestha, Managing Director of Agni Group and Arjun Prasad Sharma, Executive Director of the company jointly inaugurated the new showroom amid a program on Thursday. Issuing a press statement, the company informs that the service facility at Pranam will be available for seven days and 24 hours like in other service centers. Issuing a press release the company said that along with the den paint, the maintenance and repair of car in Pranam will be done using the modern technology.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3676', 'image' => '20160626113833_mahindra.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3842', 'article_category_id' => '1', 'title' => 'Bergers’ Waterproof Putty Launched', 'sub_title' => '', 'summary' => 'June 26: Berger paints has brought the Berger Home Shield Waterproof Putty for the first time in the Nepali market. The company claimed that Berger is the first and only company that has brought this kind of product in the market.', 'content' => '<p>June 26: Berger paints has brought the Berger Home Shield Waterproof Putty for the first time in the Nepali market. The company claimed that Berger is the first and only company that has brought this kind of product in the market.</p> <p>According to the company, the main feature of Waterproof Putty is to secure the wall stopping the water leakage. Issuing a press release, the company informed that the putty will increases the beauty of the wall and also decreases the color consumption. </p> <p><img alt="" src="/userfiles/images/berger.jpg" style="height:789px; width:628px" /></p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3675', 'image' => null, 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3841', 'article_category_id' => '1', 'title' => 'Qatar Airways hosts Iftar Dinner', 'sub_title' => '', 'summary' => 'June 26: Qatar Airways observed the holy month of Ramadan by hosting an Iftar dinner with a secular congregation at Hotel Yak & Yeti, Kathmandu. The dinner saw distinguished guests from Nepal Government, Nepal Hajj Committee, dignitaries from different religions and delegates from different embassies. The company, issuing a press release informed that the Iftar dinner had special Arabic cuisine selection. ', 'content' => '<p style="text-align:justify">June 26: Qatar Airways observed the holy month of Ramadan by hosting an Iftar dinner with a secular congregation at Hotel Yak & Yeti, Kathmandu. The dinner saw distinguished guests from Nepal Government, Nepal Hajj Committee, dignitaries from different religions and delegates from different embassies. The company, issuing a press release informed that the Iftar dinner had special Arabic cuisine selection. Ramadan is the ninth month of the lunar calendar, and the month in which Muslims believe the Holy Quran was revealed. The month is spent by Muslims fasting during the daylight hours from dawn to sunset.</p> <p style="text-align:justify">“Qatar Airways, at the time of Ramadan, has tradition of offering fasting travelers a delicious and healthy Iftar meal box featuring nutritious snacks, inspired by Middle Eastern cuisine, to break their fast. Each box features inspiring messages about the meaning of Ramadan, providing all passengers with an interesting insight in to this special time of celebration for Muslims,” reads the statement. Qatar Airways flies three flights a day to Kathmandu from its hub in Doha and connects the city to more than 150 destinations around the globe. The year’s holy month of Ramadan started in the evening of Sunday, June 5 2016 and will continue for 30 days until the evening of Tuesday, July 5 2016.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3674', 'image' => '20160626110510_qatar.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3840', 'article_category_id' => '1', 'title' => 'IME Automotives in 8th Year', 'sub_title' => '', 'summary' => 'June 26: IME Automotives Pvt. Ltd. (IMEA), an automobile trading subsidiary under IME Group, celebrated its 8th anniversary on 24 June 2016. Issuing a press statement, the company informs that IMEA, which started its operation from 2009 AD, is the sole authorized distributor of Escorts brand of Construction Equipments under prestigious Escorts Group of India', 'content' => '<p>June 26: IME Automotives Pvt. Ltd. (IMEA), an automobile trading subsidiary under IME Group, celebrated its 8<sup>th</sup> anniversary on 24 June 2016. Issuing a press statement, the company informs that IMEA, which started its operation from 2009 AD, is the sole authorized distributor of Escorts brand of Construction Equipments under prestigious Escorts Group of India. It is also exclusive distributor for Nepal for UM brand of two wheelers under UM International LLC., a brand originated from USA.</p> <p>As a part of celebration of the 8<sup>th</sup> anniversary, the company had a small gathering of in-house employees in its corporate office at Panipokhari ,IME Complex. Speaking at the gathering, Mr. Kapil Shiwakoti, CEO, IMEA, conveyed a special gratitude message to the human resources for their support and hard work throughout the years since starting.</p> <p>“The new stride to its wing is added by acquiring the nationwide distributorship of World-class brand dealing in commercial vehicles, Ashok Leyland carrying more than ten decades of expertise,” reads the statement.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3673', 'image' => '20160626105527_ime motors.JPG', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3838', 'article_category_id' => '1', 'title' => 'IMEA Organizes Test Ride around Kathmandu', 'sub_title' => '', 'summary' => 'June 26: IME Automotives Pvt Ltd, the authorized distributor of USA originated UM brand of two wheelers for Nepal, has conducted a Test Ride session in Bhaktapur Showroom. Issuing a press statement, the company informs that the test ride session is a part of their ongoing Test Ride programs in various parts in and around the capital, including neighboring Bhaktapur and Patan.', 'content' => '<p>June 26: IME Automotives Pvt Ltd, the authorized distributor of USA originated UM brand of two wheelers for Nepal, has conducted a Test Ride session in Bhaktapur Showroom. Issuing a press statement, the company informs that the test ride session is a part of their ongoing Test Ride programs in various parts in and around the capital, including neighboring Bhaktapur and Patan. According to the company, each location has been selected on the basis of major communities, junctions, and hubs in each city as well as colleges to cater young crowd who prefer powerful andstylish bikes in affordable prices. According to the company, the event will allow the bike enthusiasts to experience the superior performance of UM Bikes.</p> <p>“The company next plans to visit Nakhipot, Lalitpur on Monday, June 27<sup>th</sup>, 2016, and will consecutively make their visits to Nagbahal, Patan (Saturday, July 2<sup>nd</sup>2016), Morgan International College, Basundhara (Tuesday, July 5<sup>th</sup> 2016), Kings College, Babarmahal (Friday, July 8<sup>th</sup> 2016),” reads the statement.</p> <p>The major bikes that were put up to display and test ride were UM's leading Powermax 125, Nitrox 125, Ren Duty 125, Ren Sports 140, and DSR 200.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3671', 'image' => '20160626104505_ime 2.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3837', 'article_category_id' => '1', 'title' => 'Brexit Rattles Global Markets', 'sub_title' => '', 'summary' => 'June 24: In the wake of United Kingdom’s historic referendum to leave the European Union (EU), major markets across the globe have plunged in levels unseen prior to the global financial crisis of 2008. With the voters in the world’s fifth largest economy favouring to leave the EU, ', 'content' => '<p>June 24: In the wake of United Kingdom’s historic referendum to leave the European Union (EU), major markets across the globe have plunged to levels unseen since the global financial crisis of 2008. With the voters in the world’s fifth largest economy favouring to leave the EU, investors are panicked over the underlying uncertainties the global economy is likely to face in the upcoming days. The referendum held on Thursday, June 23 was marked by the Leave campaign securing a win of narrow margin against the Remain. Out of the eligible voters, 51.9 percent voted end the UK’s 40-year association with EU while 41.8 percent cast their ballots in favour of Britain to remain within the 28-nation union. FTSE 100, the benchmark index of UK’s capital market witnessed a freefall registering multi-years lows on Friday’s trading. The index nosedived 8.5 percent during the early hours of trading wiping out nearly UK Pound 120 billion worth of assets of the 100 biggest British companies. Similarly, the Pound also plummeted to a 31 year low. The currency saw largest drop in its value against the US Dollar since 1985 on Friday. Other major markets across Europe and Asia witnessed steepest declines setting off alarms of a possible market meltdown. According to analysts, the global markets have logged a decline of 8 percent, all told. The ‘Black Friday’, as analysts are calling it, has wiped hundreds of billions of Dollars worth of assets in a single day.</p> <p>Meanwhile, investors have flocked to safe haven assets to avert the possible losses. Following the Brexit vote, price of gold soared sharply on Friday. The yellow metal jumped 8.1 percent to USD 1358.54 per oz, the highest since March 2014. Likewise, US Dollar and the Japanese Yen also soared as investors seek to security from safe haven assets. Price of oil, meanwhile, tanked 4 percent on Friday.</p> <p><strong>NPR Depreciates by 2 Rupees in a Single Day </strong></p> <p>Though Nepali economy is insulated from Brexit, the country is expected to take some indirect hit from the event. The sharp rise in US Dollar has caused depreciation of the Nepali currency. The forex rate was set for Rs 109.30 against USD 1 on Friday. Nepal Rastra Bank (NRB) has set the rate for Saturday and Sunday at Rs 109. The forex rate jumped Rs 2 on Friday which was earlier set for Rs 107.96. Likewise, gold also spiked in the local market by Rs 3,000 per tola on Friday. Analysts say that the uncertainty surrounding the UK’s exit from EU has led to the volatility in the markets resulting in the demand of gold and other safe haven assets to rise in short and mid-terms.</p> <p><br /> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3670', 'image' => '20160624063438_brexit.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3836', 'article_category_id' => '1', 'title' => 'Siddhartha Bank Appoints Laxmi Capital as Issue Manager', 'sub_title' => '', 'summary' => 'June 24: Siddhartha Bank Limited has appointed Laxmi Capita Marketing Limited as its issue manager. The agreement has been made as the bank plans to issue right shares in the ratio of 4:1. Rajib Sapkota, CEO of Siddhartha Bank and Jhola Nath Dhungana, Secretary of Laxmi Capital signed on the agreement on behalf of their respective institutions on June 22. ', 'content' => '<p>June 24: Siddhartha Bank Limited has appointed Laxmi Capita Marketing Limited as its issue manager. The agreement has been made as the bank plans to issue right shares in the ratio of 4:1. Rajib Sapkota, CEO of Siddhartha Bank and Jhola Nath Dhungana, Secretary of Laxmi Capital signed on the agreement on behalf of their respective institutions on June 22. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3669', 'image' => '20160624041415_sidd.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3835', 'article_category_id' => '1', 'title' => 'FCAN Welcomes Amendment of Public Procurement Act', 'sub_title' => '', 'summary' => 'June 24: Federation of Contractor's Association of Nepal (FCAN) has welcomed the parliamentary endorsement of the first amendment of Public Procurement Act, 2063. Issuing a press statement, FCAN mentioned that it has welcomed the amendment despite having disagreement as it includes positive achievements such as discouraging of low-biddings and eliminating pre-qualification for small construction companies.', 'content' => '<p>June 24: Federation of Contractor's Association of Nepal (FCAN) has welcomed the parliamentary endorsement of the first amendment of Public Procurement Act, 2063. Issuing a press statement, FCAN mentioned that it has welcomed the amendment despite having disagreement as it includes positive achievements such as discouraging of low-biddings and eliminating pre-qualification for small construction companies.</p> <p>The contractors also demanded the implementation of Prime Minister’s earlier commitment of extending the deadline of the projects that were disrupted due to the last year's devastating earthquake, Indian border blockade and Tarai stir by one year. As per the FCAN's statement, due to cease in the deadline contractors are facing difficulties, as the public bodies have started to cease the bid bonds, black-listing and levying charges against the builders. FCAN also threatened to start agitation if PM's commitment is not implemented. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3668', 'image' => '20160624040815_Clipboard01.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3834', 'article_category_id' => '1', 'title' => 'Medicines Import Increases to Rs 24.5 billion', 'sub_title' => '', 'summary' => 'June 24: Nepal has imported Rs 24.37 billion worth of medicines by the 11 months of the current fiscal year. As per the statistics of 11 month publicised by the custom department, the import of medicine from India along with other countries has increased by 10 percent in the review period in comparison to same period of the last FY. The import of medicine had amounted to Rs 19.29 billion in the same period of the last FY.', 'content' => '<p>June 24: Nepal has imported Rs 24.37 billion worth of medicines by the 11 months of the current fiscal year. As per the statistics of 11 month publicised by the custom department, the import of medicine from India along with other countries has increased by 10 percent in the review period in comparison to the same period of the last FY. The import of medicine had amounted to Rs 19.29 billion in the same period of the last FY.</p> <p>Although production of domestic medicine has increased in recent time, it has not been able to replace the foreign medicines. According to the Association of Pharmaceutical Producers of Nepal (APPON), domestic medicine industries occupy only 45 percent of total medicine market in Nepal. APPON claims of producing nearly 300 types of medicines domestically. The association informs of producing medicines including injectibles and slines. Domestic industries have not been able to supply as per the demand of the market although it has grown by half-fold in a decade. Medicine import has soared due to inability of the government in promoting domestic industries,” says domestic Pharmaceuticals Producers. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3667', 'image' => '20160624034615_images.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3833', 'article_category_id' => '1', 'title' => 'Premium on Foreign Employment Life Insurance Decreased 20 %', 'sub_title' => '', 'summary' => 'June 24: The Insurance Board (IB), the insurance sector regulator has changed the foreign employment (term) life insurance premium. IB Director, Shreeman Karki informed that the insurance premium rate that was fixed to be implemented from mid-April has been decreased by 20 percent. According to him, the premium cost has been decreased as the IB has barred insurers from extending agent commission on sales of foreign employment (term) life insurance policies. ', 'content' => '<p>June 24: The Insurance Board (IB), the insurance sector regulator has changed the foreign employment (term) life insurance premium. IB Director, Shreeman Karki informed that the insurance premium rate that was fixed to be implemented from mid-April has been decreased by 20 percent. According to him, the premium cost has been decreased as the IB has barred insurers from extending agent commission on sales of foreign employment (term) life insurance policies. The Board took the decision to free foreign job seekers from financial burden of agent commission, as the foreign job-seekers are usually of low income level.</p> <p>The IB’s latest move comes almost two-and-a-half months after it doubled the coverage amount of foreign employment policies to Rs 1 million from Rs 500,000. Although the policy’s coverage had been hiked by 100 per cent, the premium cost was raised by only 65 per cent at that time. Although the premium rate has been decreased from mid-July, the insurance amount compensated to the nominee after the death of the policy owner has remained the same.</p> <p>After the implementation of changed system from April, the policyholders became entitled to compensation of Rs one million in case of death in foreign land. Before April, the amount was only Rs 5, 00,000. The decision was taken according to the recommendation made by Foreign Employment Promotion Board. However, the insurance premium differs based on age of foreign job aspirants and the tenure of the policy.</p> <p> </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3666', 'image' => '20160624011614_ib.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3832', 'article_category_id' => '1', 'title' => ' Loan Investment of Commercial Banks Reaches Highest Level', 'sub_title' => '', 'summary' => 'June 24: Loan investment of commercial banks has reached all time high in the 11 months of current FY. The 29 commercial banks operating in the country have invested Rs 1327 billion loans till mid-June. “Loans of commercial banks have increased by 46 billion in the last one month. Apparently, it has increased by 11 billion in the second week of June only,” says Bhuwan Dhahal, CEO of Sanima Bank.', 'content' => '<p style="text-align:justify">June 24: Loan investment of commercial banks has reached all time high in the 11 months of current FY. The 29 commercial banks operating in the country have invested Rs 1327 billion loans till mid-June. “Loans of commercial banks have increased by 46 billion in the last one month. Apparently, it has increased by 11 billion in the second week of June only,” says Bhuwan Dhahal, CEO of Sanima Bank.</p> <p style="text-align:justify">According to him, deposit however has not increased in compare to loans. In the second week of June, deposit collection has increased by Rs 3 billion only. Along with it, the deposit collection of the commercial banks has totalled Rs 1655 billion. The ratio of loans to deposit excluding the primary capital has reached above 80 percent. As per the bankers, there is no adequate space to increase sufficient loans because of narrow growth in deposit collection.</p> <p style="text-align:justify">As a result, bankers have increased interest rate of fixed deposit. According to a CEO of a bank, fixed deposit interest rate has reached 7 percent at present. The bankers inform that the interest rate of short term loans have also increased to 6/7 percent.</p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3665', 'image' => '20160624125406_commercial banks.JPG', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3831', 'article_category_id' => '1', 'title' => 'Sunrise Bank’s Branchless Banking in Nepaltar', 'sub_title' => '', 'summary' => 'June 24: Sunrise Bank Limited (SBL) has started branchless banking service in Nepaltar, Illam. The service was inaugurated by Guru Raj Regmi, Chief of Illam branch and Gopal Prasad Kattel, Principal of Nepaltar Higher Secondary School.', 'content' => '<p style="text-align: justify;">June 24: Sunrise Bank Limited (SBL) has started branchless banking service in Nepaltar, Illam. The service was inaugurated by Guru Raj Regmi, Chief of Illam branch and Gopal Prasad Kattel, Principal of Nepaltar Higher Secondary School.</p> <p style="text-align: justify;">Inaugurating the bank’s new service, Kattel handed over the Point of Sell Machine to the local agent Surendra Rai. The machine enables the bank to conduct deposit and payment activities to its customers even where there are no branches. Speaking on the occasion, Kattel highlighted the aim of the newly launched service. With this, the number of branchless banking service of Sunrise Bank has reached six across the country.</p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3664', 'image' => '20160624114612_sunrise.jpg', 'article_date' => '2016-06-24 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' => '3846', 'article_category_id' => '1', 'title' => 'Share Investment Opportunities in Three Hydropower Companies', 'sub_title' => '', 'summary' => 'June 26: Share investors will get the chance to invest in the three major hydropower companies namely United Modi Hydropower, Synergy Hydropower Development and Api Hydropower in the short span of period. Among the three, United Modi and Synergy is issuing primary shares for general shareholders whereas Api Hydropower is issuing right shares to the existing shareholders.', 'content' => '<p>June 26: Share investors will get the chance to invest in the three major hydropower companies namely United Modi Hydropower, Synergy Hydropower Development and Api Hydropower in the short span of period. Among the three, United Modi and Synergy is issuing primary shares for general shareholders whereas Api Hydropower is issuing right shares to the existing shareholders.</p> <p><strong>2,875,000 units of United Modi </strong></p> <p>United Modi Hydropower is issuing 2,875,000 units of primary shares worth above Rs 280 million for the general public. The company has already obtained ICRA grading of 3 from ICRA Nepal for the issue. Priced at Rs 100, the company has allocated 1150,000 units of shares for local people of affected area. Remaining shares will be allocated to general public, mutual funds and general public. The company, operating 9.9MW Lower Modi-1, is constructing 10.5MW lower modi-2. The Lower Modi-2 is being constructed as cascade project of Lower-Modi-1. The company estimates total cost of Rs 1.77 billion for the construction of Lower Modi-2. Apparently, the per mega-watt of electricity will cost Rs 169 million after the construction of the project concludes.</p> <p><strong>2,800,000 units of Synergy Power</strong></p> <p>Synergy power is also issuing 2,800,000 units of primary shares for the general public. ICRA Nepal has granted grade 4 rating which indicates of below average fundamentals for the issuance.</p> <p>Apparently, the company that is operating Siprin Hydroelectric project, is issuing primary shares in order to make payments to bank loans. Began its operation from 2013 January, the company generated electricity for 10 months before the devastating earthquake. The company has claimed Rs 210 million of insurance claims on the earthquake damages. However, surveyors have reported 70-80 percent compensation to the company.</p> <p><strong>200 percent right shares of Api Power</strong></p> <p>Api Power Company is issuing 1:2 right shares to its existing shareholders. ICRA Nepal has granted Grade 4 rating for the issuance which indicates of below average fundamentals of the company.</p> <p>The company is acquiring Siddhakali Power Limited with 80 percent of ownership. The company is issuing the right shares to construct 75MW Trishuli-Galchi project by Siddhakali Power. Presently, the group is operating four projects and additional five projects are under construction. </p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3679', 'image' => '20160626012159_hyudro.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3845', 'article_category_id' => '1', 'title' => 'Nepal-Bangkok Festival 2016 in October 1st Week', 'sub_title' => '', 'summary' => 'June 26: Nepal-Bangkok Festival 2016 will be organised in the capital on the first week of October in a bid to expand bilateral relation between Nepal and Thailand. The information has been disseminated amid a press conference organised in the valley on June 24.', 'content' => '<p>June 26: Nepal-Bangkok Festival 2016 will be organised in the capital on the first week of October in a bid to expand bilateral relation between Nepal and Thailand. The information has been disseminated amid a press conference organised in the valley on June 24.</p> <p>Issuing a press release, it has been informed that the Nepal-Bangkok Festival 2016 will be organized by Siam Lanchak Bangkok in collaboration with Thai Embassy of Nepal and Lalitpur Industrial Commercial Association. The organizer informs that more than 150 commercial institutions from Nepal and Bangkok will be participating in the festival. </p> <p>Speaking at the conference, Vutti Vuttisant, Thai ambassador said," I believe the festival that is going to be held in Kathmandu will enhance the commercial relationship between the two countries. It will also play an important role in bringing investment from Thailand."</p> <p>In the festival, entrepreneurs of both nations will exhibit and sell products of various categories such as readymade costumes, plasticmade stuffs, ceramics, food and edible items. Additionally, the exhibition will also have stalls on leather products, textiles, medical products, cosmetics, shoes sandals and electronic items.</p> <p>Likewise, the organizers claimed that the visitors will be attracted to handicraft products, technological services, readymade food items and tourism services and facilties, organiser states. According to the organiser, the festival will target traders who aim to import products from Bangkok.</p> <p> Besides these, the organizer believes that the festival will play key role in exchange of advanced technologies of the two nations.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3678', 'image' => '20160626010255_nb.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3844', 'article_category_id' => '1', 'title' => 'MEX Nepal Starts Eggs Delivery', 'sub_title' => '', 'summary' => 'June 26: Mercantile Exchange Nepal (MEX) has announced the launch of delivery of fresh hen eggs. The eggs are symbolised as EGGL and EGGM. According to MEX Nepal, EGGL stands for large sized egg while EGGM denotes as medium sized ones. The launching marks the first agro product with delivery logic.', 'content' => '<p>June 26: Mercantile Exchange Nepal (MEX) has announced the launch of delivery of fresh hen eggs. The eggs are symbolised as EGGL and EGGM. According to MEX Nepal, EGGL stands for large sized egg while EGGM denotes as medium sized ones. The launching marks the first agro product with delivery logic.</p> <p>The Exchange, issuing a press statement, states that the addition of the agricultural products in the online platform as a milestone that re-establishes the core objective of a commodity exchange. The Exchange already has a lineup of deliverable products such as 10 gram gold, 20 kg and one kg silver.</p> <p>“MEX Nepal has partnered with New Bhairab Poultry Firm situated at Dumkibaas, Nawalparasifor this product which is available in two varieties -fresh hen egg large and fresh hen egg medium,” reads the statement. According to the Exchange, the deliverable egg is available in a box containing seven crates with 30 eggs in each crate. Large and medium eggs are categorized on the basis of weight of each box. “The quality of egg is assured with no cracks and broken eggs, no blood and meat spots. Customers can initiate their position with a very low margin amount for these contracts,” informs the Exchange.</p> <p> </p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3677', 'image' => null, 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3843', 'article_category_id' => '1', 'title' => 'Mahindra’s Service Center at Sitapaila', 'sub_title' => '', 'summary' => 'June 26: Pranam Automobile Pvt. Ltd, an authorized service center of Mahindra has opened a service centre at Sitapaila, Kathmandu. Cabinet Shrestha, Managing Director of Agni Group and Arjun Prasad Sharma, Executive Director of the company jointly inaugurated the new showroom amid a program on Thursday.', 'content' => '<p style="text-align: justify;">June 26: Pranam Automobile Pvt. Ltd, an authorized service center of Mahindra has opened a service centre at Sitapaila, Kathmandu. Cabinet Shrestha, Managing Director of Agni Group and Arjun Prasad Sharma, Executive Director of the company jointly inaugurated the new showroom amid a program on Thursday. Issuing a press statement, the company informs that the service facility at Pranam will be available for seven days and 24 hours like in other service centers. Issuing a press release the company said that along with the den paint, the maintenance and repair of car in Pranam will be done using the modern technology.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3676', 'image' => '20160626113833_mahindra.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3842', 'article_category_id' => '1', 'title' => 'Bergers’ Waterproof Putty Launched', 'sub_title' => '', 'summary' => 'June 26: Berger paints has brought the Berger Home Shield Waterproof Putty for the first time in the Nepali market. The company claimed that Berger is the first and only company that has brought this kind of product in the market.', 'content' => '<p>June 26: Berger paints has brought the Berger Home Shield Waterproof Putty for the first time in the Nepali market. The company claimed that Berger is the first and only company that has brought this kind of product in the market.</p> <p>According to the company, the main feature of Waterproof Putty is to secure the wall stopping the water leakage. Issuing a press release, the company informed that the putty will increases the beauty of the wall and also decreases the color consumption. </p> <p><img alt="" src="/userfiles/images/berger.jpg" style="height:789px; width:628px" /></p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3675', 'image' => null, 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3841', 'article_category_id' => '1', 'title' => 'Qatar Airways hosts Iftar Dinner', 'sub_title' => '', 'summary' => 'June 26: Qatar Airways observed the holy month of Ramadan by hosting an Iftar dinner with a secular congregation at Hotel Yak & Yeti, Kathmandu. The dinner saw distinguished guests from Nepal Government, Nepal Hajj Committee, dignitaries from different religions and delegates from different embassies. The company, issuing a press release informed that the Iftar dinner had special Arabic cuisine selection. ', 'content' => '<p style="text-align:justify">June 26: Qatar Airways observed the holy month of Ramadan by hosting an Iftar dinner with a secular congregation at Hotel Yak & Yeti, Kathmandu. The dinner saw distinguished guests from Nepal Government, Nepal Hajj Committee, dignitaries from different religions and delegates from different embassies. The company, issuing a press release informed that the Iftar dinner had special Arabic cuisine selection. Ramadan is the ninth month of the lunar calendar, and the month in which Muslims believe the Holy Quran was revealed. The month is spent by Muslims fasting during the daylight hours from dawn to sunset.</p> <p style="text-align:justify">“Qatar Airways, at the time of Ramadan, has tradition of offering fasting travelers a delicious and healthy Iftar meal box featuring nutritious snacks, inspired by Middle Eastern cuisine, to break their fast. Each box features inspiring messages about the meaning of Ramadan, providing all passengers with an interesting insight in to this special time of celebration for Muslims,” reads the statement. Qatar Airways flies three flights a day to Kathmandu from its hub in Doha and connects the city to more than 150 destinations around the globe. The year’s holy month of Ramadan started in the evening of Sunday, June 5 2016 and will continue for 30 days until the evening of Tuesday, July 5 2016.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3674', 'image' => '20160626110510_qatar.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3840', 'article_category_id' => '1', 'title' => 'IME Automotives in 8th Year', 'sub_title' => '', 'summary' => 'June 26: IME Automotives Pvt. Ltd. (IMEA), an automobile trading subsidiary under IME Group, celebrated its 8th anniversary on 24 June 2016. Issuing a press statement, the company informs that IMEA, which started its operation from 2009 AD, is the sole authorized distributor of Escorts brand of Construction Equipments under prestigious Escorts Group of India', 'content' => '<p>June 26: IME Automotives Pvt. Ltd. (IMEA), an automobile trading subsidiary under IME Group, celebrated its 8<sup>th</sup> anniversary on 24 June 2016. Issuing a press statement, the company informs that IMEA, which started its operation from 2009 AD, is the sole authorized distributor of Escorts brand of Construction Equipments under prestigious Escorts Group of India. It is also exclusive distributor for Nepal for UM brand of two wheelers under UM International LLC., a brand originated from USA.</p> <p>As a part of celebration of the 8<sup>th</sup> anniversary, the company had a small gathering of in-house employees in its corporate office at Panipokhari ,IME Complex. Speaking at the gathering, Mr. Kapil Shiwakoti, CEO, IMEA, conveyed a special gratitude message to the human resources for their support and hard work throughout the years since starting.</p> <p>“The new stride to its wing is added by acquiring the nationwide distributorship of World-class brand dealing in commercial vehicles, Ashok Leyland carrying more than ten decades of expertise,” reads the statement.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3673', 'image' => '20160626105527_ime motors.JPG', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3838', 'article_category_id' => '1', 'title' => 'IMEA Organizes Test Ride around Kathmandu', 'sub_title' => '', 'summary' => 'June 26: IME Automotives Pvt Ltd, the authorized distributor of USA originated UM brand of two wheelers for Nepal, has conducted a Test Ride session in Bhaktapur Showroom. Issuing a press statement, the company informs that the test ride session is a part of their ongoing Test Ride programs in various parts in and around the capital, including neighboring Bhaktapur and Patan.', 'content' => '<p>June 26: IME Automotives Pvt Ltd, the authorized distributor of USA originated UM brand of two wheelers for Nepal, has conducted a Test Ride session in Bhaktapur Showroom. Issuing a press statement, the company informs that the test ride session is a part of their ongoing Test Ride programs in various parts in and around the capital, including neighboring Bhaktapur and Patan. According to the company, each location has been selected on the basis of major communities, junctions, and hubs in each city as well as colleges to cater young crowd who prefer powerful andstylish bikes in affordable prices. According to the company, the event will allow the bike enthusiasts to experience the superior performance of UM Bikes.</p> <p>“The company next plans to visit Nakhipot, Lalitpur on Monday, June 27<sup>th</sup>, 2016, and will consecutively make their visits to Nagbahal, Patan (Saturday, July 2<sup>nd</sup>2016), Morgan International College, Basundhara (Tuesday, July 5<sup>th</sup> 2016), Kings College, Babarmahal (Friday, July 8<sup>th</sup> 2016),” reads the statement.</p> <p>The major bikes that were put up to display and test ride were UM's leading Powermax 125, Nitrox 125, Ren Duty 125, Ren Sports 140, and DSR 200.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3671', 'image' => '20160626104505_ime 2.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3837', 'article_category_id' => '1', 'title' => 'Brexit Rattles Global Markets', 'sub_title' => '', 'summary' => 'June 24: In the wake of United Kingdom’s historic referendum to leave the European Union (EU), major markets across the globe have plunged in levels unseen prior to the global financial crisis of 2008. With the voters in the world’s fifth largest economy favouring to leave the EU, ', 'content' => '<p>June 24: In the wake of United Kingdom’s historic referendum to leave the European Union (EU), major markets across the globe have plunged to levels unseen since the global financial crisis of 2008. With the voters in the world’s fifth largest economy favouring to leave the EU, investors are panicked over the underlying uncertainties the global economy is likely to face in the upcoming days. The referendum held on Thursday, June 23 was marked by the Leave campaign securing a win of narrow margin against the Remain. Out of the eligible voters, 51.9 percent voted end the UK’s 40-year association with EU while 41.8 percent cast their ballots in favour of Britain to remain within the 28-nation union. FTSE 100, the benchmark index of UK’s capital market witnessed a freefall registering multi-years lows on Friday’s trading. The index nosedived 8.5 percent during the early hours of trading wiping out nearly UK Pound 120 billion worth of assets of the 100 biggest British companies. Similarly, the Pound also plummeted to a 31 year low. The currency saw largest drop in its value against the US Dollar since 1985 on Friday. Other major markets across Europe and Asia witnessed steepest declines setting off alarms of a possible market meltdown. According to analysts, the global markets have logged a decline of 8 percent, all told. The ‘Black Friday’, as analysts are calling it, has wiped hundreds of billions of Dollars worth of assets in a single day.</p> <p>Meanwhile, investors have flocked to safe haven assets to avert the possible losses. Following the Brexit vote, price of gold soared sharply on Friday. The yellow metal jumped 8.1 percent to USD 1358.54 per oz, the highest since March 2014. Likewise, US Dollar and the Japanese Yen also soared as investors seek to security from safe haven assets. Price of oil, meanwhile, tanked 4 percent on Friday.</p> <p><strong>NPR Depreciates by 2 Rupees in a Single Day </strong></p> <p>Though Nepali economy is insulated from Brexit, the country is expected to take some indirect hit from the event. The sharp rise in US Dollar has caused depreciation of the Nepali currency. The forex rate was set for Rs 109.30 against USD 1 on Friday. Nepal Rastra Bank (NRB) has set the rate for Saturday and Sunday at Rs 109. The forex rate jumped Rs 2 on Friday which was earlier set for Rs 107.96. Likewise, gold also spiked in the local market by Rs 3,000 per tola on Friday. Analysts say that the uncertainty surrounding the UK’s exit from EU has led to the volatility in the markets resulting in the demand of gold and other safe haven assets to rise in short and mid-terms.</p> <p><br /> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3670', 'image' => '20160624063438_brexit.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3836', 'article_category_id' => '1', 'title' => 'Siddhartha Bank Appoints Laxmi Capital as Issue Manager', 'sub_title' => '', 'summary' => 'June 24: Siddhartha Bank Limited has appointed Laxmi Capita Marketing Limited as its issue manager. The agreement has been made as the bank plans to issue right shares in the ratio of 4:1. Rajib Sapkota, CEO of Siddhartha Bank and Jhola Nath Dhungana, Secretary of Laxmi Capital signed on the agreement on behalf of their respective institutions on June 22. ', 'content' => '<p>June 24: Siddhartha Bank Limited has appointed Laxmi Capita Marketing Limited as its issue manager. The agreement has been made as the bank plans to issue right shares in the ratio of 4:1. Rajib Sapkota, CEO of Siddhartha Bank and Jhola Nath Dhungana, Secretary of Laxmi Capital signed on the agreement on behalf of their respective institutions on June 22. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3669', 'image' => '20160624041415_sidd.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3835', 'article_category_id' => '1', 'title' => 'FCAN Welcomes Amendment of Public Procurement Act', 'sub_title' => '', 'summary' => 'June 24: Federation of Contractor's Association of Nepal (FCAN) has welcomed the parliamentary endorsement of the first amendment of Public Procurement Act, 2063. Issuing a press statement, FCAN mentioned that it has welcomed the amendment despite having disagreement as it includes positive achievements such as discouraging of low-biddings and eliminating pre-qualification for small construction companies.', 'content' => '<p>June 24: Federation of Contractor's Association of Nepal (FCAN) has welcomed the parliamentary endorsement of the first amendment of Public Procurement Act, 2063. Issuing a press statement, FCAN mentioned that it has welcomed the amendment despite having disagreement as it includes positive achievements such as discouraging of low-biddings and eliminating pre-qualification for small construction companies.</p> <p>The contractors also demanded the implementation of Prime Minister’s earlier commitment of extending the deadline of the projects that were disrupted due to the last year's devastating earthquake, Indian border blockade and Tarai stir by one year. As per the FCAN's statement, due to cease in the deadline contractors are facing difficulties, as the public bodies have started to cease the bid bonds, black-listing and levying charges against the builders. FCAN also threatened to start agitation if PM's commitment is not implemented. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3668', 'image' => '20160624040815_Clipboard01.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3834', 'article_category_id' => '1', 'title' => 'Medicines Import Increases to Rs 24.5 billion', 'sub_title' => '', 'summary' => 'June 24: Nepal has imported Rs 24.37 billion worth of medicines by the 11 months of the current fiscal year. As per the statistics of 11 month publicised by the custom department, the import of medicine from India along with other countries has increased by 10 percent in the review period in comparison to same period of the last FY. The import of medicine had amounted to Rs 19.29 billion in the same period of the last FY.', 'content' => '<p>June 24: Nepal has imported Rs 24.37 billion worth of medicines by the 11 months of the current fiscal year. As per the statistics of 11 month publicised by the custom department, the import of medicine from India along with other countries has increased by 10 percent in the review period in comparison to the same period of the last FY. The import of medicine had amounted to Rs 19.29 billion in the same period of the last FY.</p> <p>Although production of domestic medicine has increased in recent time, it has not been able to replace the foreign medicines. According to the Association of Pharmaceutical Producers of Nepal (APPON), domestic medicine industries occupy only 45 percent of total medicine market in Nepal. APPON claims of producing nearly 300 types of medicines domestically. The association informs of producing medicines including injectibles and slines. Domestic industries have not been able to supply as per the demand of the market although it has grown by half-fold in a decade. Medicine import has soared due to inability of the government in promoting domestic industries,” says domestic Pharmaceuticals Producers. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3667', 'image' => '20160624034615_images.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3833', 'article_category_id' => '1', 'title' => 'Premium on Foreign Employment Life Insurance Decreased 20 %', 'sub_title' => '', 'summary' => 'June 24: The Insurance Board (IB), the insurance sector regulator has changed the foreign employment (term) life insurance premium. IB Director, Shreeman Karki informed that the insurance premium rate that was fixed to be implemented from mid-April has been decreased by 20 percent. According to him, the premium cost has been decreased as the IB has barred insurers from extending agent commission on sales of foreign employment (term) life insurance policies. ', 'content' => '<p>June 24: The Insurance Board (IB), the insurance sector regulator has changed the foreign employment (term) life insurance premium. IB Director, Shreeman Karki informed that the insurance premium rate that was fixed to be implemented from mid-April has been decreased by 20 percent. According to him, the premium cost has been decreased as the IB has barred insurers from extending agent commission on sales of foreign employment (term) life insurance policies. The Board took the decision to free foreign job seekers from financial burden of agent commission, as the foreign job-seekers are usually of low income level.</p> <p>The IB’s latest move comes almost two-and-a-half months after it doubled the coverage amount of foreign employment policies to Rs 1 million from Rs 500,000. Although the policy’s coverage had been hiked by 100 per cent, the premium cost was raised by only 65 per cent at that time. Although the premium rate has been decreased from mid-July, the insurance amount compensated to the nominee after the death of the policy owner has remained the same.</p> <p>After the implementation of changed system from April, the policyholders became entitled to compensation of Rs one million in case of death in foreign land. Before April, the amount was only Rs 5, 00,000. The decision was taken according to the recommendation made by Foreign Employment Promotion Board. However, the insurance premium differs based on age of foreign job aspirants and the tenure of the policy.</p> <p> </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3666', 'image' => '20160624011614_ib.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3832', 'article_category_id' => '1', 'title' => ' Loan Investment of Commercial Banks Reaches Highest Level', 'sub_title' => '', 'summary' => 'June 24: Loan investment of commercial banks has reached all time high in the 11 months of current FY. The 29 commercial banks operating in the country have invested Rs 1327 billion loans till mid-June. “Loans of commercial banks have increased by 46 billion in the last one month. Apparently, it has increased by 11 billion in the second week of June only,” says Bhuwan Dhahal, CEO of Sanima Bank.', 'content' => '<p style="text-align:justify">June 24: Loan investment of commercial banks has reached all time high in the 11 months of current FY. The 29 commercial banks operating in the country have invested Rs 1327 billion loans till mid-June. “Loans of commercial banks have increased by 46 billion in the last one month. Apparently, it has increased by 11 billion in the second week of June only,” says Bhuwan Dhahal, CEO of Sanima Bank.</p> <p style="text-align:justify">According to him, deposit however has not increased in compare to loans. In the second week of June, deposit collection has increased by Rs 3 billion only. Along with it, the deposit collection of the commercial banks has totalled Rs 1655 billion. The ratio of loans to deposit excluding the primary capital has reached above 80 percent. As per the bankers, there is no adequate space to increase sufficient loans because of narrow growth in deposit collection.</p> <p style="text-align:justify">As a result, bankers have increased interest rate of fixed deposit. According to a CEO of a bank, fixed deposit interest rate has reached 7 percent at present. The bankers inform that the interest rate of short term loans have also increased to 6/7 percent.</p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3665', 'image' => '20160624125406_commercial banks.JPG', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3831', 'article_category_id' => '1', 'title' => 'Sunrise Bank’s Branchless Banking in Nepaltar', 'sub_title' => '', 'summary' => 'June 24: Sunrise Bank Limited (SBL) has started branchless banking service in Nepaltar, Illam. The service was inaugurated by Guru Raj Regmi, Chief of Illam branch and Gopal Prasad Kattel, Principal of Nepaltar Higher Secondary School.', 'content' => '<p style="text-align: justify;">June 24: Sunrise Bank Limited (SBL) has started branchless banking service in Nepaltar, Illam. The service was inaugurated by Guru Raj Regmi, Chief of Illam branch and Gopal Prasad Kattel, Principal of Nepaltar Higher Secondary School.</p> <p style="text-align: justify;">Inaugurating the bank’s new service, Kattel handed over the Point of Sell Machine to the local agent Surendra Rai. The machine enables the bank to conduct deposit and payment activities to its customers even where there are no branches. Speaking on the occasion, Kattel highlighted the aim of the newly launched service. With this, the number of branchless banking service of Sunrise Bank has reached six across the country.</p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3664', 'image' => '20160624114612_sunrise.jpg', 'article_date' => '2016-06-24 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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '3846', 'article_category_id' => '1', 'title' => 'Share Investment Opportunities in Three Hydropower Companies', 'sub_title' => '', 'summary' => 'June 26: Share investors will get the chance to invest in the three major hydropower companies namely United Modi Hydropower, Synergy Hydropower Development and Api Hydropower in the short span of period. Among the three, United Modi and Synergy is issuing primary shares for general shareholders whereas Api Hydropower is issuing right shares to the existing shareholders.', 'content' => '<p>June 26: Share investors will get the chance to invest in the three major hydropower companies namely United Modi Hydropower, Synergy Hydropower Development and Api Hydropower in the short span of period. Among the three, United Modi and Synergy is issuing primary shares for general shareholders whereas Api Hydropower is issuing right shares to the existing shareholders.</p> <p><strong>2,875,000 units of United Modi </strong></p> <p>United Modi Hydropower is issuing 2,875,000 units of primary shares worth above Rs 280 million for the general public. The company has already obtained ICRA grading of 3 from ICRA Nepal for the issue. Priced at Rs 100, the company has allocated 1150,000 units of shares for local people of affected area. Remaining shares will be allocated to general public, mutual funds and general public. The company, operating 9.9MW Lower Modi-1, is constructing 10.5MW lower modi-2. The Lower Modi-2 is being constructed as cascade project of Lower-Modi-1. The company estimates total cost of Rs 1.77 billion for the construction of Lower Modi-2. Apparently, the per mega-watt of electricity will cost Rs 169 million after the construction of the project concludes.</p> <p><strong>2,800,000 units of Synergy Power</strong></p> <p>Synergy power is also issuing 2,800,000 units of primary shares for the general public. ICRA Nepal has granted grade 4 rating which indicates of below average fundamentals for the issuance.</p> <p>Apparently, the company that is operating Siprin Hydroelectric project, is issuing primary shares in order to make payments to bank loans. Began its operation from 2013 January, the company generated electricity for 10 months before the devastating earthquake. The company has claimed Rs 210 million of insurance claims on the earthquake damages. However, surveyors have reported 70-80 percent compensation to the company.</p> <p><strong>200 percent right shares of Api Power</strong></p> <p>Api Power Company is issuing 1:2 right shares to its existing shareholders. ICRA Nepal has granted Grade 4 rating for the issuance which indicates of below average fundamentals of the company.</p> <p>The company is acquiring Siddhakali Power Limited with 80 percent of ownership. The company is issuing the right shares to construct 75MW Trishuli-Galchi project by Siddhakali Power. Presently, the group is operating four projects and additional five projects are under construction. </p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3679', 'image' => '20160626012159_hyudro.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3845', 'article_category_id' => '1', 'title' => 'Nepal-Bangkok Festival 2016 in October 1st Week', 'sub_title' => '', 'summary' => 'June 26: Nepal-Bangkok Festival 2016 will be organised in the capital on the first week of October in a bid to expand bilateral relation between Nepal and Thailand. The information has been disseminated amid a press conference organised in the valley on June 24.', 'content' => '<p>June 26: Nepal-Bangkok Festival 2016 will be organised in the capital on the first week of October in a bid to expand bilateral relation between Nepal and Thailand. The information has been disseminated amid a press conference organised in the valley on June 24.</p> <p>Issuing a press release, it has been informed that the Nepal-Bangkok Festival 2016 will be organized by Siam Lanchak Bangkok in collaboration with Thai Embassy of Nepal and Lalitpur Industrial Commercial Association. The organizer informs that more than 150 commercial institutions from Nepal and Bangkok will be participating in the festival. </p> <p>Speaking at the conference, Vutti Vuttisant, Thai ambassador said," I believe the festival that is going to be held in Kathmandu will enhance the commercial relationship between the two countries. It will also play an important role in bringing investment from Thailand."</p> <p>In the festival, entrepreneurs of both nations will exhibit and sell products of various categories such as readymade costumes, plasticmade stuffs, ceramics, food and edible items. Additionally, the exhibition will also have stalls on leather products, textiles, medical products, cosmetics, shoes sandals and electronic items.</p> <p>Likewise, the organizers claimed that the visitors will be attracted to handicraft products, technological services, readymade food items and tourism services and facilties, organiser states. According to the organiser, the festival will target traders who aim to import products from Bangkok.</p> <p> Besides these, the organizer believes that the festival will play key role in exchange of advanced technologies of the two nations.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3678', 'image' => '20160626010255_nb.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3844', 'article_category_id' => '1', 'title' => 'MEX Nepal Starts Eggs Delivery', 'sub_title' => '', 'summary' => 'June 26: Mercantile Exchange Nepal (MEX) has announced the launch of delivery of fresh hen eggs. The eggs are symbolised as EGGL and EGGM. According to MEX Nepal, EGGL stands for large sized egg while EGGM denotes as medium sized ones. The launching marks the first agro product with delivery logic.', 'content' => '<p>June 26: Mercantile Exchange Nepal (MEX) has announced the launch of delivery of fresh hen eggs. The eggs are symbolised as EGGL and EGGM. According to MEX Nepal, EGGL stands for large sized egg while EGGM denotes as medium sized ones. The launching marks the first agro product with delivery logic.</p> <p>The Exchange, issuing a press statement, states that the addition of the agricultural products in the online platform as a milestone that re-establishes the core objective of a commodity exchange. The Exchange already has a lineup of deliverable products such as 10 gram gold, 20 kg and one kg silver.</p> <p>“MEX Nepal has partnered with New Bhairab Poultry Firm situated at Dumkibaas, Nawalparasifor this product which is available in two varieties -fresh hen egg large and fresh hen egg medium,” reads the statement. According to the Exchange, the deliverable egg is available in a box containing seven crates with 30 eggs in each crate. Large and medium eggs are categorized on the basis of weight of each box. “The quality of egg is assured with no cracks and broken eggs, no blood and meat spots. Customers can initiate their position with a very low margin amount for these contracts,” informs the Exchange.</p> <p> </p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3677', 'image' => null, 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3843', 'article_category_id' => '1', 'title' => 'Mahindra’s Service Center at Sitapaila', 'sub_title' => '', 'summary' => 'June 26: Pranam Automobile Pvt. Ltd, an authorized service center of Mahindra has opened a service centre at Sitapaila, Kathmandu. Cabinet Shrestha, Managing Director of Agni Group and Arjun Prasad Sharma, Executive Director of the company jointly inaugurated the new showroom amid a program on Thursday.', 'content' => '<p style="text-align: justify;">June 26: Pranam Automobile Pvt. Ltd, an authorized service center of Mahindra has opened a service centre at Sitapaila, Kathmandu. Cabinet Shrestha, Managing Director of Agni Group and Arjun Prasad Sharma, Executive Director of the company jointly inaugurated the new showroom amid a program on Thursday. Issuing a press statement, the company informs that the service facility at Pranam will be available for seven days and 24 hours like in other service centers. Issuing a press release the company said that along with the den paint, the maintenance and repair of car in Pranam will be done using the modern technology.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3676', 'image' => '20160626113833_mahindra.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3842', 'article_category_id' => '1', 'title' => 'Bergers’ Waterproof Putty Launched', 'sub_title' => '', 'summary' => 'June 26: Berger paints has brought the Berger Home Shield Waterproof Putty for the first time in the Nepali market. The company claimed that Berger is the first and only company that has brought this kind of product in the market.', 'content' => '<p>June 26: Berger paints has brought the Berger Home Shield Waterproof Putty for the first time in the Nepali market. The company claimed that Berger is the first and only company that has brought this kind of product in the market.</p> <p>According to the company, the main feature of Waterproof Putty is to secure the wall stopping the water leakage. Issuing a press release, the company informed that the putty will increases the beauty of the wall and also decreases the color consumption. </p> <p><img alt="" src="/userfiles/images/berger.jpg" style="height:789px; width:628px" /></p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3675', 'image' => null, 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3841', 'article_category_id' => '1', 'title' => 'Qatar Airways hosts Iftar Dinner', 'sub_title' => '', 'summary' => 'June 26: Qatar Airways observed the holy month of Ramadan by hosting an Iftar dinner with a secular congregation at Hotel Yak & Yeti, Kathmandu. The dinner saw distinguished guests from Nepal Government, Nepal Hajj Committee, dignitaries from different religions and delegates from different embassies. The company, issuing a press release informed that the Iftar dinner had special Arabic cuisine selection. ', 'content' => '<p style="text-align:justify">June 26: Qatar Airways observed the holy month of Ramadan by hosting an Iftar dinner with a secular congregation at Hotel Yak & Yeti, Kathmandu. The dinner saw distinguished guests from Nepal Government, Nepal Hajj Committee, dignitaries from different religions and delegates from different embassies. The company, issuing a press release informed that the Iftar dinner had special Arabic cuisine selection. Ramadan is the ninth month of the lunar calendar, and the month in which Muslims believe the Holy Quran was revealed. The month is spent by Muslims fasting during the daylight hours from dawn to sunset.</p> <p style="text-align:justify">“Qatar Airways, at the time of Ramadan, has tradition of offering fasting travelers a delicious and healthy Iftar meal box featuring nutritious snacks, inspired by Middle Eastern cuisine, to break their fast. Each box features inspiring messages about the meaning of Ramadan, providing all passengers with an interesting insight in to this special time of celebration for Muslims,” reads the statement. Qatar Airways flies three flights a day to Kathmandu from its hub in Doha and connects the city to more than 150 destinations around the globe. The year’s holy month of Ramadan started in the evening of Sunday, June 5 2016 and will continue for 30 days until the evening of Tuesday, July 5 2016.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3674', 'image' => '20160626110510_qatar.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3840', 'article_category_id' => '1', 'title' => 'IME Automotives in 8th Year', 'sub_title' => '', 'summary' => 'June 26: IME Automotives Pvt. Ltd. (IMEA), an automobile trading subsidiary under IME Group, celebrated its 8th anniversary on 24 June 2016. Issuing a press statement, the company informs that IMEA, which started its operation from 2009 AD, is the sole authorized distributor of Escorts brand of Construction Equipments under prestigious Escorts Group of India', 'content' => '<p>June 26: IME Automotives Pvt. Ltd. (IMEA), an automobile trading subsidiary under IME Group, celebrated its 8<sup>th</sup> anniversary on 24 June 2016. Issuing a press statement, the company informs that IMEA, which started its operation from 2009 AD, is the sole authorized distributor of Escorts brand of Construction Equipments under prestigious Escorts Group of India. It is also exclusive distributor for Nepal for UM brand of two wheelers under UM International LLC., a brand originated from USA.</p> <p>As a part of celebration of the 8<sup>th</sup> anniversary, the company had a small gathering of in-house employees in its corporate office at Panipokhari ,IME Complex. Speaking at the gathering, Mr. Kapil Shiwakoti, CEO, IMEA, conveyed a special gratitude message to the human resources for their support and hard work throughout the years since starting.</p> <p>“The new stride to its wing is added by acquiring the nationwide distributorship of World-class brand dealing in commercial vehicles, Ashok Leyland carrying more than ten decades of expertise,” reads the statement.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3673', 'image' => '20160626105527_ime motors.JPG', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3838', 'article_category_id' => '1', 'title' => 'IMEA Organizes Test Ride around Kathmandu', 'sub_title' => '', 'summary' => 'June 26: IME Automotives Pvt Ltd, the authorized distributor of USA originated UM brand of two wheelers for Nepal, has conducted a Test Ride session in Bhaktapur Showroom. Issuing a press statement, the company informs that the test ride session is a part of their ongoing Test Ride programs in various parts in and around the capital, including neighboring Bhaktapur and Patan.', 'content' => '<p>June 26: IME Automotives Pvt Ltd, the authorized distributor of USA originated UM brand of two wheelers for Nepal, has conducted a Test Ride session in Bhaktapur Showroom. Issuing a press statement, the company informs that the test ride session is a part of their ongoing Test Ride programs in various parts in and around the capital, including neighboring Bhaktapur and Patan. According to the company, each location has been selected on the basis of major communities, junctions, and hubs in each city as well as colleges to cater young crowd who prefer powerful andstylish bikes in affordable prices. According to the company, the event will allow the bike enthusiasts to experience the superior performance of UM Bikes.</p> <p>“The company next plans to visit Nakhipot, Lalitpur on Monday, June 27<sup>th</sup>, 2016, and will consecutively make their visits to Nagbahal, Patan (Saturday, July 2<sup>nd</sup>2016), Morgan International College, Basundhara (Tuesday, July 5<sup>th</sup> 2016), Kings College, Babarmahal (Friday, July 8<sup>th</sup> 2016),” reads the statement.</p> <p>The major bikes that were put up to display and test ride were UM's leading Powermax 125, Nitrox 125, Ren Duty 125, Ren Sports 140, and DSR 200.</p> ', 'published' => true, 'created' => '2016-06-26', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3671', 'image' => '20160626104505_ime 2.jpg', 'article_date' => '2016-06-26 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3837', 'article_category_id' => '1', 'title' => 'Brexit Rattles Global Markets', 'sub_title' => '', 'summary' => 'June 24: In the wake of United Kingdom’s historic referendum to leave the European Union (EU), major markets across the globe have plunged in levels unseen prior to the global financial crisis of 2008. With the voters in the world’s fifth largest economy favouring to leave the EU, ', 'content' => '<p>June 24: In the wake of United Kingdom’s historic referendum to leave the European Union (EU), major markets across the globe have plunged to levels unseen since the global financial crisis of 2008. With the voters in the world’s fifth largest economy favouring to leave the EU, investors are panicked over the underlying uncertainties the global economy is likely to face in the upcoming days. The referendum held on Thursday, June 23 was marked by the Leave campaign securing a win of narrow margin against the Remain. Out of the eligible voters, 51.9 percent voted end the UK’s 40-year association with EU while 41.8 percent cast their ballots in favour of Britain to remain within the 28-nation union. FTSE 100, the benchmark index of UK’s capital market witnessed a freefall registering multi-years lows on Friday’s trading. The index nosedived 8.5 percent during the early hours of trading wiping out nearly UK Pound 120 billion worth of assets of the 100 biggest British companies. Similarly, the Pound also plummeted to a 31 year low. The currency saw largest drop in its value against the US Dollar since 1985 on Friday. Other major markets across Europe and Asia witnessed steepest declines setting off alarms of a possible market meltdown. According to analysts, the global markets have logged a decline of 8 percent, all told. The ‘Black Friday’, as analysts are calling it, has wiped hundreds of billions of Dollars worth of assets in a single day.</p> <p>Meanwhile, investors have flocked to safe haven assets to avert the possible losses. Following the Brexit vote, price of gold soared sharply on Friday. The yellow metal jumped 8.1 percent to USD 1358.54 per oz, the highest since March 2014. Likewise, US Dollar and the Japanese Yen also soared as investors seek to security from safe haven assets. Price of oil, meanwhile, tanked 4 percent on Friday.</p> <p><strong>NPR Depreciates by 2 Rupees in a Single Day </strong></p> <p>Though Nepali economy is insulated from Brexit, the country is expected to take some indirect hit from the event. The sharp rise in US Dollar has caused depreciation of the Nepali currency. The forex rate was set for Rs 109.30 against USD 1 on Friday. Nepal Rastra Bank (NRB) has set the rate for Saturday and Sunday at Rs 109. The forex rate jumped Rs 2 on Friday which was earlier set for Rs 107.96. Likewise, gold also spiked in the local market by Rs 3,000 per tola on Friday. Analysts say that the uncertainty surrounding the UK’s exit from EU has led to the volatility in the markets resulting in the demand of gold and other safe haven assets to rise in short and mid-terms.</p> <p><br /> </p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '3670', 'image' => '20160624063438_brexit.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3836', 'article_category_id' => '1', 'title' => 'Siddhartha Bank Appoints Laxmi Capital as Issue Manager', 'sub_title' => '', 'summary' => 'June 24: Siddhartha Bank Limited has appointed Laxmi Capita Marketing Limited as its issue manager. The agreement has been made as the bank plans to issue right shares in the ratio of 4:1. Rajib Sapkota, CEO of Siddhartha Bank and Jhola Nath Dhungana, Secretary of Laxmi Capital signed on the agreement on behalf of their respective institutions on June 22. ', 'content' => '<p>June 24: Siddhartha Bank Limited has appointed Laxmi Capita Marketing Limited as its issue manager. The agreement has been made as the bank plans to issue right shares in the ratio of 4:1. Rajib Sapkota, CEO of Siddhartha Bank and Jhola Nath Dhungana, Secretary of Laxmi Capital signed on the agreement on behalf of their respective institutions on June 22. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3669', 'image' => '20160624041415_sidd.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3835', 'article_category_id' => '1', 'title' => 'FCAN Welcomes Amendment of Public Procurement Act', 'sub_title' => '', 'summary' => 'June 24: Federation of Contractor's Association of Nepal (FCAN) has welcomed the parliamentary endorsement of the first amendment of Public Procurement Act, 2063. Issuing a press statement, FCAN mentioned that it has welcomed the amendment despite having disagreement as it includes positive achievements such as discouraging of low-biddings and eliminating pre-qualification for small construction companies.', 'content' => '<p>June 24: Federation of Contractor's Association of Nepal (FCAN) has welcomed the parliamentary endorsement of the first amendment of Public Procurement Act, 2063. Issuing a press statement, FCAN mentioned that it has welcomed the amendment despite having disagreement as it includes positive achievements such as discouraging of low-biddings and eliminating pre-qualification for small construction companies.</p> <p>The contractors also demanded the implementation of Prime Minister’s earlier commitment of extending the deadline of the projects that were disrupted due to the last year's devastating earthquake, Indian border blockade and Tarai stir by one year. As per the FCAN's statement, due to cease in the deadline contractors are facing difficulties, as the public bodies have started to cease the bid bonds, black-listing and levying charges against the builders. FCAN also threatened to start agitation if PM's commitment is not implemented. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3668', 'image' => '20160624040815_Clipboard01.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3834', 'article_category_id' => '1', 'title' => 'Medicines Import Increases to Rs 24.5 billion', 'sub_title' => '', 'summary' => 'June 24: Nepal has imported Rs 24.37 billion worth of medicines by the 11 months of the current fiscal year. As per the statistics of 11 month publicised by the custom department, the import of medicine from India along with other countries has increased by 10 percent in the review period in comparison to same period of the last FY. The import of medicine had amounted to Rs 19.29 billion in the same period of the last FY.', 'content' => '<p>June 24: Nepal has imported Rs 24.37 billion worth of medicines by the 11 months of the current fiscal year. As per the statistics of 11 month publicised by the custom department, the import of medicine from India along with other countries has increased by 10 percent in the review period in comparison to the same period of the last FY. The import of medicine had amounted to Rs 19.29 billion in the same period of the last FY.</p> <p>Although production of domestic medicine has increased in recent time, it has not been able to replace the foreign medicines. According to the Association of Pharmaceutical Producers of Nepal (APPON), domestic medicine industries occupy only 45 percent of total medicine market in Nepal. APPON claims of producing nearly 300 types of medicines domestically. The association informs of producing medicines including injectibles and slines. Domestic industries have not been able to supply as per the demand of the market although it has grown by half-fold in a decade. Medicine import has soared due to inability of the government in promoting domestic industries,” says domestic Pharmaceuticals Producers. </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3667', 'image' => '20160624034615_images.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3833', 'article_category_id' => '1', 'title' => 'Premium on Foreign Employment Life Insurance Decreased 20 %', 'sub_title' => '', 'summary' => 'June 24: The Insurance Board (IB), the insurance sector regulator has changed the foreign employment (term) life insurance premium. IB Director, Shreeman Karki informed that the insurance premium rate that was fixed to be implemented from mid-April has been decreased by 20 percent. According to him, the premium cost has been decreased as the IB has barred insurers from extending agent commission on sales of foreign employment (term) life insurance policies. ', 'content' => '<p>June 24: The Insurance Board (IB), the insurance sector regulator has changed the foreign employment (term) life insurance premium. IB Director, Shreeman Karki informed that the insurance premium rate that was fixed to be implemented from mid-April has been decreased by 20 percent. According to him, the premium cost has been decreased as the IB has barred insurers from extending agent commission on sales of foreign employment (term) life insurance policies. The Board took the decision to free foreign job seekers from financial burden of agent commission, as the foreign job-seekers are usually of low income level.</p> <p>The IB’s latest move comes almost two-and-a-half months after it doubled the coverage amount of foreign employment policies to Rs 1 million from Rs 500,000. Although the policy’s coverage had been hiked by 100 per cent, the premium cost was raised by only 65 per cent at that time. Although the premium rate has been decreased from mid-July, the insurance amount compensated to the nominee after the death of the policy owner has remained the same.</p> <p>After the implementation of changed system from April, the policyholders became entitled to compensation of Rs one million in case of death in foreign land. Before April, the amount was only Rs 5, 00,000. The decision was taken according to the recommendation made by Foreign Employment Promotion Board. However, the insurance premium differs based on age of foreign job aspirants and the tenure of the policy.</p> <p> </p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3666', 'image' => '20160624011614_ib.jpg', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3832', 'article_category_id' => '1', 'title' => ' Loan Investment of Commercial Banks Reaches Highest Level', 'sub_title' => '', 'summary' => 'June 24: Loan investment of commercial banks has reached all time high in the 11 months of current FY. The 29 commercial banks operating in the country have invested Rs 1327 billion loans till mid-June. “Loans of commercial banks have increased by 46 billion in the last one month. Apparently, it has increased by 11 billion in the second week of June only,” says Bhuwan Dhahal, CEO of Sanima Bank.', 'content' => '<p style="text-align:justify">June 24: Loan investment of commercial banks has reached all time high in the 11 months of current FY. The 29 commercial banks operating in the country have invested Rs 1327 billion loans till mid-June. “Loans of commercial banks have increased by 46 billion in the last one month. Apparently, it has increased by 11 billion in the second week of June only,” says Bhuwan Dhahal, CEO of Sanima Bank.</p> <p style="text-align:justify">According to him, deposit however has not increased in compare to loans. In the second week of June, deposit collection has increased by Rs 3 billion only. Along with it, the deposit collection of the commercial banks has totalled Rs 1655 billion. The ratio of loans to deposit excluding the primary capital has reached above 80 percent. As per the bankers, there is no adequate space to increase sufficient loans because of narrow growth in deposit collection.</p> <p style="text-align:justify">As a result, bankers have increased interest rate of fixed deposit. According to a CEO of a bank, fixed deposit interest rate has reached 7 percent at present. The bankers inform that the interest rate of short term loans have also increased to 6/7 percent.</p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3665', 'image' => '20160624125406_commercial banks.JPG', 'article_date' => '2016-06-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3831', 'article_category_id' => '1', 'title' => 'Sunrise Bank’s Branchless Banking in Nepaltar', 'sub_title' => '', 'summary' => 'June 24: Sunrise Bank Limited (SBL) has started branchless banking service in Nepaltar, Illam. The service was inaugurated by Guru Raj Regmi, Chief of Illam branch and Gopal Prasad Kattel, Principal of Nepaltar Higher Secondary School.', 'content' => '<p style="text-align: justify;">June 24: Sunrise Bank Limited (SBL) has started branchless banking service in Nepaltar, Illam. The service was inaugurated by Guru Raj Regmi, Chief of Illam branch and Gopal Prasad Kattel, Principal of Nepaltar Higher Secondary School.</p> <p style="text-align: justify;">Inaugurating the bank’s new service, Kattel handed over the Point of Sell Machine to the local agent Surendra Rai. The machine enables the bank to conduct deposit and payment activities to its customers even where there are no branches. Speaking on the occasion, Kattel highlighted the aim of the newly launched service. With this, the number of branchless banking service of Sunrise Bank has reached six across the country.</p> ', 'published' => true, 'created' => '2016-06-24', 'modified' => '2016-06-24', 'keywords' => '', 'description' => '', 'sortorder' => '3664', 'image' => '20160624114612_sunrise.jpg', 'article_date' => '2016-06-24 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
