November 25: Brazil outclassed Serbia 2-0 in their World Cup opener on Thursday as Richarlison scored two second-half goals, including a spectacular overhead…
November 25: Brazil outclassed Serbia 2-0 in their World Cup opener on Thursday as Richarlison scored two second-half goals, including a spectacular overhead…
November 24: The counting of votes under the elections to the members of the House of Representatives and provincial assemblies is currently underway.…
November 24: Switzerland made a winning start to their World Cup campaign with a 1-0 win over Cameroon in their group-stage match on…
November 24: The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview with…
November 24: The government on Wednesday honoured the top taxpayers of the country among whom Surya Nepal Private Limited was declared the highest taxpayer company for the last fiscal…
November 24: NET consortium on Tuesday organized the second event of the Bamboo Series under its Climate Initiative on the topic ‘Are businesses prepared for…
November 24: Nepal's hydropower generation capacity will reach 3,000 megawatts within the current financial year, claimed Nepal Electricity Authority’s Executive Director Kulman…
November 24: The import of diesel, petrol and cooking gas (LPG) has declined in the first four months of the current fiscal year compared to the corresponding period of last…
November 24: No political party is likely to secure two-thirds majority in the election to the House of Representatives held on November 20.…
November 24: The CPN (UML) is leading the vote count under proportional representation category with a total 452,730 votes so far.…
November 23: Analysts believe that the overall economy of the country will gain normalcy due to the election…
November 23: Chairman of the Election Commission of the Maldives, Fuwad Thowfeek, has said that the election management and process have improved in Nepal compared to the past.…
November 23: The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the Organisation for Economic Cooperation and Development (OECD)…
November 23: Commercial banks of Nepal have reported positive outcome in deposit collection to back the central bank’s claim that the economic indicators are improving in the…
November 23: Rastriya Swatantra Party’s candidate for House of Representatives (HoR) from Kathmandu Constituency-2, Sobita Gautam, has emerged victorious in the election with an overwhelming 15,229…
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Serbia are bottom.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-25', 'modified' => '2022-11-25', 'keywords' => '', 'description' => '', 'sortorder' => '16120', 'image' => '20221125113223_brazil.jpg', 'article_date' => '2022-11-25 11:31:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16378', 'article_category_id' => '1', 'title' => 'NC, UML, Maoist Centre lead FTPT Vote Count ', 'sub_title' => '', 'summary' => 'November 24: The counting of votes under the elections to the members of the House of Representatives and provincial assemblies is currently underway. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 24: The counting of votes under the elections to the members of the House of Representatives and provincial assemblies is currently underway. According to the Election Commission, the Nepali Congress (NC) has won the highest seats towards the first-past-the-post (FPTP) electoral system by the time this news report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The party has won 30 HoR seats out of 165. NC leader Yogesh Gauchan Thakali was the first candidate to secure victory for the party from Mustang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The party’s central President and Prime Minister Sher Bahadur Deuba, senior leader Ram Chandra Poudel, general secretaries Gagan Kumar Thapa and Bishwa Prakash Sharma, leaders Prakash Man Singh, Dr Shashanka Koirala, Dilendra Prasad Badu and Ramesh Lekhak have secured their places in the HoR. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other winning candidates from the party are Bir Bahadur Balayar, Pradeep Poudel, Santosh Chalise, Rajan KC, Uday Shamser JB Rana, Durlav Thapa Chhetri, Mohan Acharya, Ramhari Khatiwada, Ajay Kumar Chaurasiya, Ramesh Rijal, Shyam Kumar Ghimire, Tek Bahadur Gurung, Kishore Singh Rathore, Dikpal Kumar Shahi, Hridayram Thani, Pushpa Bahadur Shah, Narayan Prasad Saud, Shankar Bhandari, Rajendra Bajgain, Dev Prasad Timilsina and Kham Bahadur Garbuja. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Similarly, CPN (UML) has won the 17 seats. The elected candidates of UML include party Chair KP Sharma Oli, Prithvi Subba Gurung, Yogesh Kumar Bhattarai, Gokarna Raj Bista, Krishna Gopal Shrestha, Top Bahadur Raymajhi, Rajendra Kumar Rai, Lal Prasad ( LP) Sawa Limbu, Dev Raj Ghimire, Ambar Bahadur Rayamajhi, Manbir Rai, Raj Kumar Gupta, Mahesh Kumar Bartaula, Prem Bahadur Maharjan, Bidya Bhattarai, Padam Giri and Basudev Ghimire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CPN (Maoist Centre) has secured victory in nine constituencies and the elected candidates are party Chair Pushpa Kamal Dahal, leaders Barshaman Pun, Shakti Bahadur Basnet, Devendra Poudel, Raj Kumar Rai, Lekhnath Dahal, Rekha Sharma, Purna Bahadur Bishwokarma and Madhav Sapkota. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the CPN (Unified Socialist) has won six seats and the winning candidates are party Chair Madhav Kumar Nepal, leaders Krishna Kumar Shrestha, Prakash Jwala, Sher Bahadur Kunwar, Prem Bahadur Ale and Bhanu Bhakta Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Swatantra Party has secured victory in five constituencies and the elected candidates are party Chair Ravi Lamichhane, Sobita Gautam, Shishir Khanal, Ganesh Parajuli, and Biraj Bhakta Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Prajatantra Party (RPP) has won three seats and the winning candidates are Dhawal Shamsher Rana, Deepak Bahadur Singh and Gyan Bahadur Shahi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Loktantrik Samajbadi Party has clinched victory in two constituencies and the elected members are Sarvendra Nath Shukla and Ram Prakash Chaudhary. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Janamat Party’s Chandra Kant Raut, independent candidate Lalbir Chaudhary and Nagarik Unmukti Party’s Ganga Ram Chaudhary have won a seat each. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16119', 'image' => '20221124082106_20221123050626_20220805085711_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-24 20:20:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16377', 'article_category_id' => '1', 'title' => 'Switzerland Edge Past Cameroon in Opening Match', 'sub_title' => '', 'summary' => 'November 24: Switzerland made a winning start to their World Cup campaign with a 1-0 win over Cameroon in their group-stage match on Thursday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 24: Switzerland made a winning start to their World Cup campaign with a 1-0 win over Cameroon in their group-stage match on Thursday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Reuters, Cameroon-born Breel Embolo scored the winning goal against the run of the play in the opening match of Group G.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">AFP reported that Embolo struck three minutes into the second half as Switzerland secured a vital three points in a group that includes tournament favourites Brazil and Serbia.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The 25-year-old refused to celebrate the goal as the small group of Swiss fans cheered wildly at Al Janoub Stadium, added Reuters.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Cameroon have now lost their last eight World Cup matches going back to 2002.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Meanwhile, AFP reported that Roger Milla was presented with an award before kick-off as the oldest goalscorer in World Cup history, a reminder of past glories for Cameroon who have won just one game since reaching the quarter-finals 32 years ago.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16118', 'image' => '20221124061800_Switzerland-vs-Cameroon-World-Cup-2022-scaled.jpg', 'article_date' => '2022-11-24 18:17:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16376', 'article_category_id' => '1', 'title' => 'Global Regulators to Target Crypto Platforms after FTX Crash', 'sub_title' => '', 'summary' => 'November 24: The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview with Reuters.', 'content' => '<p><span style="font-size:16px">Global regulators to target crypto platforms after FTX crash<br /> AGENCIES<br /> November 24: The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview with Reuters.<br /> According to the news agency, IOSCO chair Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest, such as at credit rating agencies and compilers of market benchmarks, without having to start from scratch.<br /> Cryptoassets like bitcoin have been around for years but regulators have resisted jumping in to write new rules. But the implosion at FTX, which left an estimated one million creditors facing losses totalling billions of dollars, will help change that, Servais told Reuters.<br /> In a report published in early November, Reuters had said that at least one billion dollars of customer funds have vanished from collapsed crypto exchange FTX.<br /> "The sense of urgency was not the same even two or three years ago. There are some dissenting opinions about whether crypto is a real issue at the international level because some people think that it's still not a material issue and risk," Reuters quoted Servais as saying.<br /> "Things are changing and due to the interconnectivity between different types of businesses, I think it's now important that we are able to start a discussion and that's where we are going."<br /> IOSCO, which coordinates rules for G20 countries and others, has already set out principles for regulating stablecoins, but now the focus is turning to platforms which trade in them.<br /> According to Reuters, Madrid-based IOSCO, or International Organization of Securities Commissions, is an umbrella body for market watchdogs like the Securities and Exchange Commission in the United States, Bafin in Germany, Japan's Financial Services Agency, and the UK Financial Conduct Authority, who all commit to applying the body's recommendations.<br /> "I think that the world is changing. We know there is some space for developing new standards about supervision of this kind of crypto conglomerates. There is an obvious necessity," Servais reportedly said.<br /> It may be noted that Nepal Rastra Bank, the central bank of Nepal, has been issuing notices time and again warning the general public not to use crypto currency, arguing that transactions involving crypto currencies are not legally recognized in Nepal and are not guaranteed by the government<br /> NRB says that the general public can be duped while dealing with crypto-currency. There is also the risk of capital flight, the NRB added.</span><br /> </p> <p><span style="font-size:16px">Read Also:<br /> https://www.newbusinessage.com/Articles/view/15797</span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16117', 'image' => '20221124054608_20220816103615_Cryptoshutterstock_1434643079.jpg', 'article_date' => '2022-11-24 17:45:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16374', 'article_category_id' => '1', 'title' => 'Surya Nepal Honoured as the Highest Taxpaying Company', 'sub_title' => 'Vijay Shah of Jawlakhel Group of Industries Bags the Honour in Individual Category', 'summary' => 'November 24: The government on Wednesday honoured the top taxpayers of the country among whom Surya Nepal Private Limited was declared the highest taxpayer company for the last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 24: The government on Wednesday honoured the top taxpayers of the country among whom Surya Nepal Private Limited was declared the highest taxpayer company for the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary Krishna Hari Pushkar honored Surya Nepal amid a programme organized by the Inland Revenue Department in the capital to mark the National Tax Day 2022. The government honored individuals and organizations under 15 different categories.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the IRD, Surya Nepal paid taxes worth Rs 10.72 billion in the Fiscal Year 2021/22, up from Rs 9.34 billion in the previous fiscal year. The annual turnover of the multinational company in 2021 was about Rs 24.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the rating agency Care Rating Nepal, Surya Nepal earned a net profit of Rs 9.41 billion in 2021 and Rs 9.55 billion in 2020. The company, which has a large share in the cigarette trade of Nepal, did business worth Rs 24 billion 493 million during the review year. It also sells matchboxes, incense sticks and confectionaries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Vijaya Shah of Jawalakhel Group of Industries received recognition as the largest taxpayer in individual category in the last fiscal year. Shah leads the group of industries, which incorporates companies like Jawalakhel Distillery, Vijay Distillery, Himalayan Distillery, Raj Brewery and Asian Distillery. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Nepal Telecom bagged the award of the largest income taxpayer.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">OBC Foods received the honours as the highest taxpayer in agriculture category while export-based companies Shiva Shakti Ghee and Rajesh Metal Crafts were recognized for the contribution to the state treasury in their respective category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nabil Bank also received the award in the banking sector while IME Remittance from remittance group and Chhimek Microfinance Company from cooperative group were also among those honoured by the government for the contribution. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16115', 'image' => '20221124032148_20200911125203_1599773733.Clipboard04.jpg', 'article_date' => '2022-11-24 15:21:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16373', 'article_category_id' => '1', 'title' => 'Private Sector Stakeholders Discuss Disaster Resilience', 'sub_title' => '', 'summary' => 'November 24: NET consortium on Tuesday organized the second event of the Bamboo Series under its Climate Initiative on the topic ‘Are businesses prepared for disasters?’.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 24: NET consortium on Tuesday organized the second event of the Bamboo Series under its Climate Initiative on the topic ‘Are businesses prepared for disasters?’. The event provided great insights into the challenges faced by businesses during disasters like COVID-19, the response mechanism adopted by them, and the importance of disaster preparedness, reads a statement issued by the NET consortium, which comprises of three organizations namely National Disaster Risk Reduction Centre (NDRC) Nepal, Enterprise for Management, Economic Reform and Gender Equality (EMERGE), and Tangent Waves. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the programme, Shraddha Joshi, executive director of A.N.T Holidays Pvt Ltd, a travel agency in Nepal, pointed out the need to develop Business Continuity Plan (BCP) for their businesses to manage disasters better.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, Gajendra Malla, of Village Café, stressed that the government must address the social safety nets for women workers who are most affected during disasters. He also added that there is an urgent need to train women in disaster management, added the statement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Brijendra Rochan Joshi, CEO of Rooster Logic, expressed the need to have access to information on the available resources from Government to mitigate the challenges.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Anisha Karn, CEO of SmartPaani added that many SMEs do not benefit from the various support mechanisms that exist to mitigate disasters. She also highlighted how businesses are inadequately resourced to manage disasters themselves.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The key takeaway from the second session of the Bamboo Series was the need to have BCPs to make businesses disaster resilient, the statement further said.</span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16114', 'image' => '20221124023351_Untitled.jpg', 'article_date' => '2022-11-24 14:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16372', 'article_category_id' => '1', 'title' => 'Nepal to Produce 3000MW of Electricity within Current FY: Kulman Ghising', 'sub_title' => '', 'summary' => 'November 24: Nepal's hydropower generation capacity will reach 3,000 megawatts within the current financial year, claimed Nepal Electricity Authority’s Executive Director Kulman Ghising.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 24: Nepal's hydropower generation capacity will reach 3,000 megawatts within the current financial year, claimed Nepal Electricity Authority’s Executive Director Kulman Ghising. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising made such remarks during a program organized to appreciate the best taxpayers on the occasion of the National Tax Day on Wednesday. Ghising argued that many hydropower projects are about to be completed. As a result, the production capacity of the country will increase soon, said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He added Nepal's hydropower production capacity will reach 15,000 megawatts in the next 5 to 6 years, and estimated that the authority will pay about Rs 5 billion in revenue to the government annually after that. He informed that the authority currently pays Rs 1.70 billion to the government in revenue annually.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising said that hydropower projects can contribute greatly to the revenue if they get good promotion. He informed that the NEA earned Rs 11 billion in revenue through the export of electricity in the first four months of the current fiscal year. He added that hydropower is important for the prosperity of the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16113', 'image' => '20221124015619_20190122124004_Kulman-Ghising.jpg', 'article_date' => '2022-11-24 13:55:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16371', 'article_category_id' => '1', 'title' => 'Import of Petroleum Products Declines', 'sub_title' => '', 'summary' => 'November 24: The import of diesel, petrol and cooking gas (LPG) has declined in the first four months of the current fiscal year compared to the corresponding period of last year', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 24: The import of diesel, petrol and cooking gas (LPG) has declined in the first four months of the current fiscal year compared to the corresponding period of last year, according to the data released by the Department of Customs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the past, petroleum products used to top the list of imported goods but fuel imports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although the amount of petroleum product imported into the country has decreased due to the sharp increase in the price of crude oil in the international market and the devaluation of the Nepalese currency, the amount money flowing out of the country has increased. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last year, Rs 34.34 billion was spent on imports of diesel, which decreased to Rs 44.28 billion this year. This year, diesel is the most imported commodity from mid-September to mid-November although the quantity of imports decreased by 26.63 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, the country imported petrol worth Rs 23.69 billion in the review period. Last year, only Rs 18.66 billion was spent on petrol imports. Similarly, LP gas worth Rs 19.64 billion was imported this year against imports worth Rs 17.43 billion last year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-October this year, palmolin exports worth Rs 5.54 billion topped the list of exported items from Nepal. Similarly, soybean oil worth Rs 5.32 billion and refined palm oil worth Rs 3.38 billion were exported in the review period, according to the data released by the department.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16112', 'image' => '20221124123327_petroo - Copy.jpg', 'article_date' => '2022-11-24 12:32:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16370', 'article_category_id' => '1', 'title' => 'Election Results Indicate No Clear Majority in Parliament', 'sub_title' => '', 'summary' => 'November 24: No political party is likely to secure two-thirds majority in the election to the House of Representatives held on November 20. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 24: No political party is likely to secure two-thirds majority in the election to the House of Representatives held on November 20. However, the final results of the election are yet to be announced. The Election Commission has said that the final results will be announced within a few days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is the second time that the country held election to the HoR after the establishment of a republican setup in Nepal. During the last general election held in 2017, the leftist alliance led by CPN-UML had secured two-thirds majority in parliament. However, due to internal disputes, the left alliance could not rule for a full five-year term. The leftist government led by KP Sharma Oli fell after the party broke down due to internal dispute while the court failed to recognize the unified left alliance. Subsequently, a new coalition government led by Nepali Congress President Sher Bahadur Deuba was formed and is still governing the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A political party needs to secure 138 seats in the 275-member House of Representatives which includes 165 seats in the first-past-the-post electoral (FTPT) system and 110 seats in proportional representation (PR) category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the results obtained so far does not indicate any party will secure majority seats in parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the latest results of the EC, the ruling Nepali Congress is ahead in the election. However, the NC is yet to secure majority seats so far. The NC has won 19 seats of HoR as of Wednesday evening and is leading the vote count in 37 constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the CPN-UML has won seven seats and is ahead in 37 constituencies. Similarly, the newly-formed Rastriya Swatantra Party has secured four seats in the lower house and is leading in five constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CPN Maoist Centre, which had formed an electoral alliance with the NC, has so far won three seats in HoR and is ahead in 13 constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CPN Unified Socialist has won two seats and is ahead in seven constituencies. Likewise, Janata Samajbadi Party, Rastriya Prajatantra Party, Nagarik Unnmukti Party and Loktantril Samajbadi Party have each won one seat in the federal parliament. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16111', 'image' => '20221124112330_KN_Damauli-image_6483441.jpg', 'article_date' => '2022-11-24 11:22:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16369', 'article_category_id' => '1', 'title' => 'UML Continues to Lead Vote Count under PR Category with over 400,000 Votes ', 'sub_title' => '', 'summary' => 'November 24: The CPN (UML) is leading the vote count under proportional representation category with a total 452,730 votes so far. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 24: The CPN (UML) is leading the vote count under proportional representation category with a total 452,730 votes so far. The Nepali Congress is second with 416,184 votes, according to the latest update of the Election Commission. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Swatantra Party is third with 234,747 votes followed by the CPN (Maoist Center) with 192,742 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Rastriya Prajatantra Party has secured 123,909 votes, Janata Samajwadi Party Nepal 57,910 votes, Nepal Workers and Peasants Party 42,457 votes and the Janamat Party 28,344 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the CPN (Unified Socialist) has secured 28,376 votes, Nagarik Unmukti Party 25,616 votes, and others have received 98,519 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the EC's preliminary estimate, voter turnout was 61 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Under the PR category, a party is required to get at least three percent of the total number of votes cast to get seats. It means that a single party should get over 320,000 votes to secure seats in parliament under the PR section. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16110', 'image' => '20221124103901_EC.jpg', 'article_date' => '2022-11-24 10:37:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16368', 'article_category_id' => '1', 'title' => 'Analysts Believe Election will Revitalize the Economy', 'sub_title' => '', 'summary' => 'November 23: Analysts believe that the overall economy of the country will gain normalcy due to the election expenses.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 23: Analysts believe that the overall economy of the country will gain normalcy due to the election expenses. They expect that the money spent by the political parties and the government for the elections held on November 20 will flow to the market and the economy will revitalize.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the economists, the expenses incurred by political parties, poll candidates and the government for the elections will help the economy of the country as a whole. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economist Keshav Acharya remarked that Rs 10 billion spent by the candidates will flow to the market, which will help in revitalizing the economy. He said that the candidates have spent extensively on vehicles, hotels and social media during the elections. Economist Acharya added that millions of rupees will return to the banking system and liquidity crisis will also ease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banking expert Analraj Bhattarai said that the expenses incurred in the election will help the country's economy to return to normalcy to some extent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, he added that it is not capable of making big contribution to economic growth. He said that the expenses incurred by the government and the expenses incurred by the candidates of the political parties in the elections have is almost Rs 50 billion. He said that the expenses of the election will bring some relief to the liquidity crisis in the banks. Bhattarai said that now the banks will distribute cash dividends after the election expenses eases liquidity problem. He however estimates the liquidity problem will persist for a long time due to the demand of Rs 300 billion in the market, continuous recession in business and the reduction in revenue collection due to the government's ban on imports.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai stated, “In 2017 elections, the growth rate of the economy increased due to the increase in expenses. At that time, the economic growth rate reached 8 percent. However, currently the global economy is unstable due to the Covid-19 pandemic and Ukraine-Russia War. Nepal as well is not an exception to their impacts.” He said that the economic growth rate of Nepal could be 5 percent in the current fiscal year. He remarked that the newly formed government will face challenges and will need to do a lot of work to improve the economy.</span></span></span></span></p> <p> </p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16109', 'image' => '20221123080457_DB_Simkot-IMG20221123124943.jpg', 'article_date' => '2022-11-23 20:04:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16367', 'article_category_id' => '1', 'title' => 'Election Management has Improved in Nepal: Chairman Thowfeek ', 'sub_title' => '', 'summary' => 'November 23: Chairman of the Election Commission of the Maldives, Fuwad Thowfeek, has said that the election management and process have improved in Nepal compared to the past. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 23: Chairman of the Election Commission of the Maldives, Fuwad Thowfeek, has said that the election management and process have improved in Nepal compared to the past. The Maldives' Election Commission chief was in Nepal to observe the election to the members of the House of Representatives and provincial assemblies held on November 20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thowfeek made such remark on Wednesday before returning home. Stating that he had also visited Nepal in 2070 BS to observe the general election, he lauded the efforts of the employees and security persons deputed on election duty and the participation of voters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maldives' Election Commission Chief Thowfeek had observed the election at eight voting stations in Kathmandu, Lalitpur and Kavrepalanchok. He further said that he would share about the good practices of the election management and the process found in Nepal back in the Maldives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The voters in the developing countries seem not yet ready to adopt the electronic voting system,” he said and suggested that rather than collecting the ballot boxes at every Election Officer's office for counting the votes, it would be better if the vote counting was done at every polling station itself. He urged the Election Commission, Nepal to think on this line as well. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16108', 'image' => '20221123050626_20220805085711_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-23 17:05:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16366', 'article_category_id' => '1', 'title' => 'Global Slowdown to Hit Europe the Hardest: OECD', 'sub_title' => '', 'summary' => 'November 23: The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the Organisation for Economic Cooperation and Development (OECD) said.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 23: The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the Organisation for Economic Cooperation and Development (OECD) said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to a news report published by Reuters on Tuesday, the OECD added that fighting inflation should be policymakers' top priority.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">National outlooks vary widely, although Britain's economy is set to lag major peers, the OECD said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It forecast that world economic growth would slow from 3.1 percent this year - slightly more than the OECD foresaw in its September projections - to 2.2 percent next year, before accelerating to 2.7 percent in 2024.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“We are not predicting a recession, but we are certainly projecting a period of pronounced weakness,” Reuters quoted OECD head Mathias Cormann as saying during a news conference while presenting the organisation's latest Economic Outlook.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, the OECD said that the global slowdown was hitting economies unevenly, with Europe bearing the brunt as Russia's war in Ukraine hits business activity and drives an energy price spike.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It forecast that the 19-country euro zone economy would grow 3.3 percent this year then slow to 0.5 percent in 2023 before recovering to expand by 1.4 percent in 2024. That was slightly better than in the OECD's September outlook, when it estimated 3.1 percent growth this year and 0.3 percent in 2023.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Outside the euro zone, the British economy was seen shrinking 0.4 percent next year as it contends with rising interest rates, surging inflation and weak confidence. Previously the OECD had expected 0.2 percent growth.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The US economy was set to hold up better, with growth expected to slow from 1.8 percent this year to 0.5 percent in 2023 before rising to 1.0 percent in 2024. The OECD had previously expected growth of only 1.5 percent this year in the world's biggest economy and its estimate for 2023 was unchanged.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, China, which is not an OECD member, was one of the few major economies expected to see growth pick up next year, after a wave of COVID lockdowns. Growth there was seen rising from 3.3 percent this year to 4.6 percent in 2023 and 4.1 percent in 2024, compared with previous forecasts of 3.2 percent in 2022 and 4.7 percent for 2023.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The forecast, however, does not take into account the latest curbs imposed by China to deal with the flare-ups in Covid cases.</span></span></p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16107', 'image' => '20221123022417_EU_economic_governance.jpg', 'article_date' => '2022-11-23 14:23:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16365', 'article_category_id' => '1', 'title' => 'Bank Deposits Up while Credit Flow Slumps', 'sub_title' => '', 'summary' => 'November 23: Commercial banks of Nepal have reported positive outcome in deposit collection to back the central bank’s claim that the economic indicators are improving in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">November 23: Commercial banks of Nepal have reported positive outcome in deposit collection to back the central bank’s claim that the economic indicators are improving in the country.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The deposit collection of banks increased in a one month period between mid-October to mid-November due to increase in remittance inflow as well as economic activities during the election.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The deposit collection of 26 commercial banks in Nepal stood at Rs 16.19 billion in the review month, according to the figures released by Nepal Bankers Association.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">As per the data of the association, the total deposits of commercial banks which stood at Rs 4.547 trillion in mid-October has increased to Rs 4.563 trillion by mid-November.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The association informed that the deposits withdrawn by the banks’ customers during the festive season has started returning to the banking system from the first week of November.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">“The bank deposits were withdrawn in mid-October during the festive season. But they have started returning to the banking system,” said Kiran Kumar Shrestha, CEO of Rastriya Banijya Bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">He argued that the bank deposits will further rise because the money from the informal sector will pour into the market due to the election.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Nepal Rastra Bank had recently published a report indicating improvement in economic indicators. According to the NRB, the Balance of Payments remained at a surplus in mid-October for the first time in 14 months. Likewise, remittance inflow also increased by 16 percent to Rs 281.5 billion in the first quarter of the current fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Although the deposit collection of banks increased in the review period, credit flow has declined.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The total credit flow of banks in the review month stood at Rs 1.26 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The loan portfolio of commercial banks has now reached Rs 4.222 trillion. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The CD ratio of banks in the review month was 87.19 percent. Although the CD ratio is within the limit set by the central bank, the commercial banks are not able to increase credit flow due to high interest rates.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16106', 'image' => '20221123125400_Banks - Copy.jpg', 'article_date' => '2022-11-23 12:53:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16363', 'article_category_id' => '1', 'title' => 'Newly-Formed RSP Wins Four Seats in House of Representatives', 'sub_title' => 'RSP’s Sobita Gautam wins HoR seat in Kathmandu-2, Toshima Karki Triumphs in Lalitpur-3 ', 'summary' => 'November 23: Rastriya Swatantra Party’s candidate for House of Representatives (HoR) from Kathmandu Constituency-2, Sobita Gautam, has emerged victorious in the election with an overwhelming 15,229 votes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 23: Rastriya Swatantra Party’s candidate for House of Representatives (HoR) from Kathmandu Constituency-2, Sobita Gautam, has emerged victorious in the election with an overwhelming 15,229 votes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Returning Officer Bimala Regmi, the vote counting in the constituency was completed on Wednesday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gautam’s nearest rival Mani Ram Phuyal of CPN (UML) garnered 11,555 votes while Rastriya Prajatantra Party’s Kunti Devi Pokharel finished third with 11,014 votes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, CPN (Maoist Centre)’s Onsari Gharti obtained 9,449 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 52,956 votes cast in the constituency, 2,116 votes were invalid. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With Gautam’s victory, the newly-formed RSP has now secured four seats in the House of Representatives.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dr Toshima Karki of the same party secured a seat in the lower house of parliament from Lalitpur Constituency-3 with a wide-margin victory over her nearest rival Amrit Khadka of CPN UML.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The voting results published by the Election Commission on Wednesday morning shows that Dr Karki secured 14,208 votes against 8,223 of UML leader Khadka. Meanwhile, Maoist Center candidate and Energy Minister Pampha Bhusal finished a distant third with 5,453 votes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">RSP also secured seats in the parliament from constituencies 7 and 8 of Kathmandu. (With inputs from RSS)</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16105', 'image' => '20221123114422_sobita.jpg', 'article_date' => '2022-11-23 11:43:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16381', 'article_category_id' => '1', 'title' => 'Brazil Outclass Serbia in Opening Match', 'sub_title' => '', 'summary' => 'November 25: Brazil outclassed Serbia 2-0 in their World Cup opener on Thursday as Richarlison scored two second-half goals, including a spectacular overhead kick.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 25: Brazil outclassed Serbia 2-0 in their World Cup opener on Thursday as Richarlison scored two second-half goals, including a spectacular overhead kick, Reuters reported</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the news agency, an ankle injury sustained by Neymar however put a damper on their celebrations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Richarlison has been in fine form when wearing the golden yellow kit of Brazil this year and he opened the scoring with an easy tap-in before doubling the lead with his acrobatic effort, added Reuters.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“It was his ninth goal for Brazil in seven games in 2022 as Brazil leapfrogged Switzerland, who beat Cameroon 1-0, to the top of Group G. Serbia are bottom.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-25', 'modified' => '2022-11-25', 'keywords' => '', 'description' => '', 'sortorder' => '16120', 'image' => '20221125113223_brazil.jpg', 'article_date' => '2022-11-25 11:31:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16378', 'article_category_id' => '1', 'title' => 'NC, UML, Maoist Centre lead FTPT Vote Count ', 'sub_title' => '', 'summary' => 'November 24: The counting of votes under the elections to the members of the House of Representatives and provincial assemblies is currently underway. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 24: The counting of votes under the elections to the members of the House of Representatives and provincial assemblies is currently underway. According to the Election Commission, the Nepali Congress (NC) has won the highest seats towards the first-past-the-post (FPTP) electoral system by the time this news report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The party has won 30 HoR seats out of 165. NC leader Yogesh Gauchan Thakali was the first candidate to secure victory for the party from Mustang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The party’s central President and Prime Minister Sher Bahadur Deuba, senior leader Ram Chandra Poudel, general secretaries Gagan Kumar Thapa and Bishwa Prakash Sharma, leaders Prakash Man Singh, Dr Shashanka Koirala, Dilendra Prasad Badu and Ramesh Lekhak have secured their places in the HoR. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other winning candidates from the party are Bir Bahadur Balayar, Pradeep Poudel, Santosh Chalise, Rajan KC, Uday Shamser JB Rana, Durlav Thapa Chhetri, Mohan Acharya, Ramhari Khatiwada, Ajay Kumar Chaurasiya, Ramesh Rijal, Shyam Kumar Ghimire, Tek Bahadur Gurung, Kishore Singh Rathore, Dikpal Kumar Shahi, Hridayram Thani, Pushpa Bahadur Shah, Narayan Prasad Saud, Shankar Bhandari, Rajendra Bajgain, Dev Prasad Timilsina and Kham Bahadur Garbuja. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Similarly, CPN (UML) has won the 17 seats. The elected candidates of UML include party Chair KP Sharma Oli, Prithvi Subba Gurung, Yogesh Kumar Bhattarai, Gokarna Raj Bista, Krishna Gopal Shrestha, Top Bahadur Raymajhi, Rajendra Kumar Rai, Lal Prasad ( LP) Sawa Limbu, Dev Raj Ghimire, Ambar Bahadur Rayamajhi, Manbir Rai, Raj Kumar Gupta, Mahesh Kumar Bartaula, Prem Bahadur Maharjan, Bidya Bhattarai, Padam Giri and Basudev Ghimire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CPN (Maoist Centre) has secured victory in nine constituencies and the elected candidates are party Chair Pushpa Kamal Dahal, leaders Barshaman Pun, Shakti Bahadur Basnet, Devendra Poudel, Raj Kumar Rai, Lekhnath Dahal, Rekha Sharma, Purna Bahadur Bishwokarma and Madhav Sapkota. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the CPN (Unified Socialist) has won six seats and the winning candidates are party Chair Madhav Kumar Nepal, leaders Krishna Kumar Shrestha, Prakash Jwala, Sher Bahadur Kunwar, Prem Bahadur Ale and Bhanu Bhakta Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Swatantra Party has secured victory in five constituencies and the elected candidates are party Chair Ravi Lamichhane, Sobita Gautam, Shishir Khanal, Ganesh Parajuli, and Biraj Bhakta Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Prajatantra Party (RPP) has won three seats and the winning candidates are Dhawal Shamsher Rana, Deepak Bahadur Singh and Gyan Bahadur Shahi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Loktantrik Samajbadi Party has clinched victory in two constituencies and the elected members are Sarvendra Nath Shukla and Ram Prakash Chaudhary. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Janamat Party’s Chandra Kant Raut, independent candidate Lalbir Chaudhary and Nagarik Unmukti Party’s Ganga Ram Chaudhary have won a seat each. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16119', 'image' => '20221124082106_20221123050626_20220805085711_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-24 20:20:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16377', 'article_category_id' => '1', 'title' => 'Switzerland Edge Past Cameroon in Opening Match', 'sub_title' => '', 'summary' => 'November 24: Switzerland made a winning start to their World Cup campaign with a 1-0 win over Cameroon in their group-stage match on Thursday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 24: Switzerland made a winning start to their World Cup campaign with a 1-0 win over Cameroon in their group-stage match on Thursday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Reuters, Cameroon-born Breel Embolo scored the winning goal against the run of the play in the opening match of Group G.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">AFP reported that Embolo struck three minutes into the second half as Switzerland secured a vital three points in a group that includes tournament favourites Brazil and Serbia.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The 25-year-old refused to celebrate the goal as the small group of Swiss fans cheered wildly at Al Janoub Stadium, added Reuters.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Cameroon have now lost their last eight World Cup matches going back to 2002.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Meanwhile, AFP reported that Roger Milla was presented with an award before kick-off as the oldest goalscorer in World Cup history, a reminder of past glories for Cameroon who have won just one game since reaching the quarter-finals 32 years ago.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16118', 'image' => '20221124061800_Switzerland-vs-Cameroon-World-Cup-2022-scaled.jpg', 'article_date' => '2022-11-24 18:17:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16376', 'article_category_id' => '1', 'title' => 'Global Regulators to Target Crypto Platforms after FTX Crash', 'sub_title' => '', 'summary' => 'November 24: The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview with Reuters.', 'content' => '<p><span style="font-size:16px">Global regulators to target crypto platforms after FTX crash<br /> AGENCIES<br /> November 24: The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview with Reuters.<br /> According to the news agency, IOSCO chair Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest, such as at credit rating agencies and compilers of market benchmarks, without having to start from scratch.<br /> Cryptoassets like bitcoin have been around for years but regulators have resisted jumping in to write new rules. But the implosion at FTX, which left an estimated one million creditors facing losses totalling billions of dollars, will help change that, Servais told Reuters.<br /> In a report published in early November, Reuters had said that at least one billion dollars of customer funds have vanished from collapsed crypto exchange FTX.<br /> "The sense of urgency was not the same even two or three years ago. There are some dissenting opinions about whether crypto is a real issue at the international level because some people think that it's still not a material issue and risk," Reuters quoted Servais as saying.<br /> "Things are changing and due to the interconnectivity between different types of businesses, I think it's now important that we are able to start a discussion and that's where we are going."<br /> IOSCO, which coordinates rules for G20 countries and others, has already set out principles for regulating stablecoins, but now the focus is turning to platforms which trade in them.<br /> According to Reuters, Madrid-based IOSCO, or International Organization of Securities Commissions, is an umbrella body for market watchdogs like the Securities and Exchange Commission in the United States, Bafin in Germany, Japan's Financial Services Agency, and the UK Financial Conduct Authority, who all commit to applying the body's recommendations.<br /> "I think that the world is changing. We know there is some space for developing new standards about supervision of this kind of crypto conglomerates. There is an obvious necessity," Servais reportedly said.<br /> It may be noted that Nepal Rastra Bank, the central bank of Nepal, has been issuing notices time and again warning the general public not to use crypto currency, arguing that transactions involving crypto currencies are not legally recognized in Nepal and are not guaranteed by the government<br /> NRB says that the general public can be duped while dealing with crypto-currency. There is also the risk of capital flight, the NRB added.</span><br /> </p> <p><span style="font-size:16px">Read Also:<br /> https://www.newbusinessage.com/Articles/view/15797</span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16117', 'image' => '20221124054608_20220816103615_Cryptoshutterstock_1434643079.jpg', 'article_date' => '2022-11-24 17:45:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16374', 'article_category_id' => '1', 'title' => 'Surya Nepal Honoured as the Highest Taxpaying Company', 'sub_title' => 'Vijay Shah of Jawlakhel Group of Industries Bags the Honour in Individual Category', 'summary' => 'November 24: The government on Wednesday honoured the top taxpayers of the country among whom Surya Nepal Private Limited was declared the highest taxpayer company for the last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 24: The government on Wednesday honoured the top taxpayers of the country among whom Surya Nepal Private Limited was declared the highest taxpayer company for the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary Krishna Hari Pushkar honored Surya Nepal amid a programme organized by the Inland Revenue Department in the capital to mark the National Tax Day 2022. The government honored individuals and organizations under 15 different categories.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the IRD, Surya Nepal paid taxes worth Rs 10.72 billion in the Fiscal Year 2021/22, up from Rs 9.34 billion in the previous fiscal year. The annual turnover of the multinational company in 2021 was about Rs 24.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the rating agency Care Rating Nepal, Surya Nepal earned a net profit of Rs 9.41 billion in 2021 and Rs 9.55 billion in 2020. The company, which has a large share in the cigarette trade of Nepal, did business worth Rs 24 billion 493 million during the review year. It also sells matchboxes, incense sticks and confectionaries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Vijaya Shah of Jawalakhel Group of Industries received recognition as the largest taxpayer in individual category in the last fiscal year. Shah leads the group of industries, which incorporates companies like Jawalakhel Distillery, Vijay Distillery, Himalayan Distillery, Raj Brewery and Asian Distillery. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Nepal Telecom bagged the award of the largest income taxpayer.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">OBC Foods received the honours as the highest taxpayer in agriculture category while export-based companies Shiva Shakti Ghee and Rajesh Metal Crafts were recognized for the contribution to the state treasury in their respective category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nabil Bank also received the award in the banking sector while IME Remittance from remittance group and Chhimek Microfinance Company from cooperative group were also among those honoured by the government for the contribution. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16115', 'image' => '20221124032148_20200911125203_1599773733.Clipboard04.jpg', 'article_date' => '2022-11-24 15:21:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16373', 'article_category_id' => '1', 'title' => 'Private Sector Stakeholders Discuss Disaster Resilience', 'sub_title' => '', 'summary' => 'November 24: NET consortium on Tuesday organized the second event of the Bamboo Series under its Climate Initiative on the topic ‘Are businesses prepared for disasters?’.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 24: NET consortium on Tuesday organized the second event of the Bamboo Series under its Climate Initiative on the topic ‘Are businesses prepared for disasters?’. The event provided great insights into the challenges faced by businesses during disasters like COVID-19, the response mechanism adopted by them, and the importance of disaster preparedness, reads a statement issued by the NET consortium, which comprises of three organizations namely National Disaster Risk Reduction Centre (NDRC) Nepal, Enterprise for Management, Economic Reform and Gender Equality (EMERGE), and Tangent Waves. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the programme, Shraddha Joshi, executive director of A.N.T Holidays Pvt Ltd, a travel agency in Nepal, pointed out the need to develop Business Continuity Plan (BCP) for their businesses to manage disasters better.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, Gajendra Malla, of Village Café, stressed that the government must address the social safety nets for women workers who are most affected during disasters. He also added that there is an urgent need to train women in disaster management, added the statement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Brijendra Rochan Joshi, CEO of Rooster Logic, expressed the need to have access to information on the available resources from Government to mitigate the challenges.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Anisha Karn, CEO of SmartPaani added that many SMEs do not benefit from the various support mechanisms that exist to mitigate disasters. She also highlighted how businesses are inadequately resourced to manage disasters themselves.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The key takeaway from the second session of the Bamboo Series was the need to have BCPs to make businesses disaster resilient, the statement further said.</span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16114', 'image' => '20221124023351_Untitled.jpg', 'article_date' => '2022-11-24 14:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16372', 'article_category_id' => '1', 'title' => 'Nepal to Produce 3000MW of Electricity within Current FY: Kulman Ghising', 'sub_title' => '', 'summary' => 'November 24: Nepal's hydropower generation capacity will reach 3,000 megawatts within the current financial year, claimed Nepal Electricity Authority’s Executive Director Kulman Ghising.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 24: Nepal's hydropower generation capacity will reach 3,000 megawatts within the current financial year, claimed Nepal Electricity Authority’s Executive Director Kulman Ghising. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising made such remarks during a program organized to appreciate the best taxpayers on the occasion of the National Tax Day on Wednesday. Ghising argued that many hydropower projects are about to be completed. As a result, the production capacity of the country will increase soon, said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He added Nepal's hydropower production capacity will reach 15,000 megawatts in the next 5 to 6 years, and estimated that the authority will pay about Rs 5 billion in revenue to the government annually after that. He informed that the authority currently pays Rs 1.70 billion to the government in revenue annually.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising said that hydropower projects can contribute greatly to the revenue if they get good promotion. He informed that the NEA earned Rs 11 billion in revenue through the export of electricity in the first four months of the current fiscal year. He added that hydropower is important for the prosperity of the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16113', 'image' => '20221124015619_20190122124004_Kulman-Ghising.jpg', 'article_date' => '2022-11-24 13:55:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16371', 'article_category_id' => '1', 'title' => 'Import of Petroleum Products Declines', 'sub_title' => '', 'summary' => 'November 24: The import of diesel, petrol and cooking gas (LPG) has declined in the first four months of the current fiscal year compared to the corresponding period of last year', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 24: The import of diesel, petrol and cooking gas (LPG) has declined in the first four months of the current fiscal year compared to the corresponding period of last year, according to the data released by the Department of Customs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the past, petroleum products used to top the list of imported goods but fuel imports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although the amount of petroleum product imported into the country has decreased due to the sharp increase in the price of crude oil in the international market and the devaluation of the Nepalese currency, the amount money flowing out of the country has increased. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last year, Rs 34.34 billion was spent on imports of diesel, which decreased to Rs 44.28 billion this year. This year, diesel is the most imported commodity from mid-September to mid-November although the quantity of imports decreased by 26.63 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, the country imported petrol worth Rs 23.69 billion in the review period. Last year, only Rs 18.66 billion was spent on petrol imports. Similarly, LP gas worth Rs 19.64 billion was imported this year against imports worth Rs 17.43 billion last year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-October this year, palmolin exports worth Rs 5.54 billion topped the list of exported items from Nepal. Similarly, soybean oil worth Rs 5.32 billion and refined palm oil worth Rs 3.38 billion were exported in the review period, according to the data released by the department.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16112', 'image' => '20221124123327_petroo - Copy.jpg', 'article_date' => '2022-11-24 12:32:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16370', 'article_category_id' => '1', 'title' => 'Election Results Indicate No Clear Majority in Parliament', 'sub_title' => '', 'summary' => 'November 24: No political party is likely to secure two-thirds majority in the election to the House of Representatives held on November 20. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 24: No political party is likely to secure two-thirds majority in the election to the House of Representatives held on November 20. However, the final results of the election are yet to be announced. The Election Commission has said that the final results will be announced within a few days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is the second time that the country held election to the HoR after the establishment of a republican setup in Nepal. During the last general election held in 2017, the leftist alliance led by CPN-UML had secured two-thirds majority in parliament. However, due to internal disputes, the left alliance could not rule for a full five-year term. The leftist government led by KP Sharma Oli fell after the party broke down due to internal dispute while the court failed to recognize the unified left alliance. Subsequently, a new coalition government led by Nepali Congress President Sher Bahadur Deuba was formed and is still governing the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A political party needs to secure 138 seats in the 275-member House of Representatives which includes 165 seats in the first-past-the-post electoral (FTPT) system and 110 seats in proportional representation (PR) category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the results obtained so far does not indicate any party will secure majority seats in parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the latest results of the EC, the ruling Nepali Congress is ahead in the election. However, the NC is yet to secure majority seats so far. The NC has won 19 seats of HoR as of Wednesday evening and is leading the vote count in 37 constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the CPN-UML has won seven seats and is ahead in 37 constituencies. Similarly, the newly-formed Rastriya Swatantra Party has secured four seats in the lower house and is leading in five constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CPN Maoist Centre, which had formed an electoral alliance with the NC, has so far won three seats in HoR and is ahead in 13 constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CPN Unified Socialist has won two seats and is ahead in seven constituencies. Likewise, Janata Samajbadi Party, Rastriya Prajatantra Party, Nagarik Unnmukti Party and Loktantril Samajbadi Party have each won one seat in the federal parliament. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16111', 'image' => '20221124112330_KN_Damauli-image_6483441.jpg', 'article_date' => '2022-11-24 11:22:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16369', 'article_category_id' => '1', 'title' => 'UML Continues to Lead Vote Count under PR Category with over 400,000 Votes ', 'sub_title' => '', 'summary' => 'November 24: The CPN (UML) is leading the vote count under proportional representation category with a total 452,730 votes so far. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 24: The CPN (UML) is leading the vote count under proportional representation category with a total 452,730 votes so far. The Nepali Congress is second with 416,184 votes, according to the latest update of the Election Commission. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Swatantra Party is third with 234,747 votes followed by the CPN (Maoist Center) with 192,742 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Rastriya Prajatantra Party has secured 123,909 votes, Janata Samajwadi Party Nepal 57,910 votes, Nepal Workers and Peasants Party 42,457 votes and the Janamat Party 28,344 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the CPN (Unified Socialist) has secured 28,376 votes, Nagarik Unmukti Party 25,616 votes, and others have received 98,519 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the EC's preliminary estimate, voter turnout was 61 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Under the PR category, a party is required to get at least three percent of the total number of votes cast to get seats. It means that a single party should get over 320,000 votes to secure seats in parliament under the PR section. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16110', 'image' => '20221124103901_EC.jpg', 'article_date' => '2022-11-24 10:37:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16368', 'article_category_id' => '1', 'title' => 'Analysts Believe Election will Revitalize the Economy', 'sub_title' => '', 'summary' => 'November 23: Analysts believe that the overall economy of the country will gain normalcy due to the election expenses.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 23: Analysts believe that the overall economy of the country will gain normalcy due to the election expenses. They expect that the money spent by the political parties and the government for the elections held on November 20 will flow to the market and the economy will revitalize.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the economists, the expenses incurred by political parties, poll candidates and the government for the elections will help the economy of the country as a whole. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economist Keshav Acharya remarked that Rs 10 billion spent by the candidates will flow to the market, which will help in revitalizing the economy. He said that the candidates have spent extensively on vehicles, hotels and social media during the elections. Economist Acharya added that millions of rupees will return to the banking system and liquidity crisis will also ease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banking expert Analraj Bhattarai said that the expenses incurred in the election will help the country's economy to return to normalcy to some extent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, he added that it is not capable of making big contribution to economic growth. He said that the expenses incurred by the government and the expenses incurred by the candidates of the political parties in the elections have is almost Rs 50 billion. He said that the expenses of the election will bring some relief to the liquidity crisis in the banks. Bhattarai said that now the banks will distribute cash dividends after the election expenses eases liquidity problem. He however estimates the liquidity problem will persist for a long time due to the demand of Rs 300 billion in the market, continuous recession in business and the reduction in revenue collection due to the government's ban on imports.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai stated, “In 2017 elections, the growth rate of the economy increased due to the increase in expenses. At that time, the economic growth rate reached 8 percent. However, currently the global economy is unstable due to the Covid-19 pandemic and Ukraine-Russia War. Nepal as well is not an exception to their impacts.” He said that the economic growth rate of Nepal could be 5 percent in the current fiscal year. He remarked that the newly formed government will face challenges and will need to do a lot of work to improve the economy.</span></span></span></span></p> <p> </p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16109', 'image' => '20221123080457_DB_Simkot-IMG20221123124943.jpg', 'article_date' => '2022-11-23 20:04:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16367', 'article_category_id' => '1', 'title' => 'Election Management has Improved in Nepal: Chairman Thowfeek ', 'sub_title' => '', 'summary' => 'November 23: Chairman of the Election Commission of the Maldives, Fuwad Thowfeek, has said that the election management and process have improved in Nepal compared to the past. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 23: Chairman of the Election Commission of the Maldives, Fuwad Thowfeek, has said that the election management and process have improved in Nepal compared to the past. The Maldives' Election Commission chief was in Nepal to observe the election to the members of the House of Representatives and provincial assemblies held on November 20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thowfeek made such remark on Wednesday before returning home. Stating that he had also visited Nepal in 2070 BS to observe the general election, he lauded the efforts of the employees and security persons deputed on election duty and the participation of voters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maldives' Election Commission Chief Thowfeek had observed the election at eight voting stations in Kathmandu, Lalitpur and Kavrepalanchok. He further said that he would share about the good practices of the election management and the process found in Nepal back in the Maldives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The voters in the developing countries seem not yet ready to adopt the electronic voting system,” he said and suggested that rather than collecting the ballot boxes at every Election Officer's office for counting the votes, it would be better if the vote counting was done at every polling station itself. He urged the Election Commission, Nepal to think on this line as well. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16108', 'image' => '20221123050626_20220805085711_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-23 17:05:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16366', 'article_category_id' => '1', 'title' => 'Global Slowdown to Hit Europe the Hardest: OECD', 'sub_title' => '', 'summary' => 'November 23: The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the Organisation for Economic Cooperation and Development (OECD) said.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 23: The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the Organisation for Economic Cooperation and Development (OECD) said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to a news report published by Reuters on Tuesday, the OECD added that fighting inflation should be policymakers' top priority.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">National outlooks vary widely, although Britain's economy is set to lag major peers, the OECD said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It forecast that world economic growth would slow from 3.1 percent this year - slightly more than the OECD foresaw in its September projections - to 2.2 percent next year, before accelerating to 2.7 percent in 2024.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“We are not predicting a recession, but we are certainly projecting a period of pronounced weakness,” Reuters quoted OECD head Mathias Cormann as saying during a news conference while presenting the organisation's latest Economic Outlook.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, the OECD said that the global slowdown was hitting economies unevenly, with Europe bearing the brunt as Russia's war in Ukraine hits business activity and drives an energy price spike.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It forecast that the 19-country euro zone economy would grow 3.3 percent this year then slow to 0.5 percent in 2023 before recovering to expand by 1.4 percent in 2024. That was slightly better than in the OECD's September outlook, when it estimated 3.1 percent growth this year and 0.3 percent in 2023.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Outside the euro zone, the British economy was seen shrinking 0.4 percent next year as it contends with rising interest rates, surging inflation and weak confidence. Previously the OECD had expected 0.2 percent growth.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The US economy was set to hold up better, with growth expected to slow from 1.8 percent this year to 0.5 percent in 2023 before rising to 1.0 percent in 2024. The OECD had previously expected growth of only 1.5 percent this year in the world's biggest economy and its estimate for 2023 was unchanged.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, China, which is not an OECD member, was one of the few major economies expected to see growth pick up next year, after a wave of COVID lockdowns. Growth there was seen rising from 3.3 percent this year to 4.6 percent in 2023 and 4.1 percent in 2024, compared with previous forecasts of 3.2 percent in 2022 and 4.7 percent for 2023.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The forecast, however, does not take into account the latest curbs imposed by China to deal with the flare-ups in Covid cases.</span></span></p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16107', 'image' => '20221123022417_EU_economic_governance.jpg', 'article_date' => '2022-11-23 14:23:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16365', 'article_category_id' => '1', 'title' => 'Bank Deposits Up while Credit Flow Slumps', 'sub_title' => '', 'summary' => 'November 23: Commercial banks of Nepal have reported positive outcome in deposit collection to back the central bank’s claim that the economic indicators are improving in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">November 23: Commercial banks of Nepal have reported positive outcome in deposit collection to back the central bank’s claim that the economic indicators are improving in the country.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The deposit collection of banks increased in a one month period between mid-October to mid-November due to increase in remittance inflow as well as economic activities during the election.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The deposit collection of 26 commercial banks in Nepal stood at Rs 16.19 billion in the review month, according to the figures released by Nepal Bankers Association.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">As per the data of the association, the total deposits of commercial banks which stood at Rs 4.547 trillion in mid-October has increased to Rs 4.563 trillion by mid-November.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The association informed that the deposits withdrawn by the banks’ customers during the festive season has started returning to the banking system from the first week of November.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">“The bank deposits were withdrawn in mid-October during the festive season. But they have started returning to the banking system,” said Kiran Kumar Shrestha, CEO of Rastriya Banijya Bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">He argued that the bank deposits will further rise because the money from the informal sector will pour into the market due to the election.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Nepal Rastra Bank had recently published a report indicating improvement in economic indicators. According to the NRB, the Balance of Payments remained at a surplus in mid-October for the first time in 14 months. Likewise, remittance inflow also increased by 16 percent to Rs 281.5 billion in the first quarter of the current fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Although the deposit collection of banks increased in the review period, credit flow has declined.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The total credit flow of banks in the review month stood at Rs 1.26 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The loan portfolio of commercial banks has now reached Rs 4.222 trillion. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The CD ratio of banks in the review month was 87.19 percent. Although the CD ratio is within the limit set by the central bank, the commercial banks are not able to increase credit flow due to high interest rates.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16106', 'image' => '20221123125400_Banks - Copy.jpg', 'article_date' => '2022-11-23 12:53:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16363', 'article_category_id' => '1', 'title' => 'Newly-Formed RSP Wins Four Seats in House of Representatives', 'sub_title' => 'RSP’s Sobita Gautam wins HoR seat in Kathmandu-2, Toshima Karki Triumphs in Lalitpur-3 ', 'summary' => 'November 23: Rastriya Swatantra Party’s candidate for House of Representatives (HoR) from Kathmandu Constituency-2, Sobita Gautam, has emerged victorious in the election with an overwhelming 15,229 votes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 23: Rastriya Swatantra Party’s candidate for House of Representatives (HoR) from Kathmandu Constituency-2, Sobita Gautam, has emerged victorious in the election with an overwhelming 15,229 votes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Returning Officer Bimala Regmi, the vote counting in the constituency was completed on Wednesday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gautam’s nearest rival Mani Ram Phuyal of CPN (UML) garnered 11,555 votes while Rastriya Prajatantra Party’s Kunti Devi Pokharel finished third with 11,014 votes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, CPN (Maoist Centre)’s Onsari Gharti obtained 9,449 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 52,956 votes cast in the constituency, 2,116 votes were invalid. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With Gautam’s victory, the newly-formed RSP has now secured four seats in the House of Representatives.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dr Toshima Karki of the same party secured a seat in the lower house of parliament from Lalitpur Constituency-3 with a wide-margin victory over her nearest rival Amrit Khadka of CPN UML.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The voting results published by the Election Commission on Wednesday morning shows that Dr Karki secured 14,208 votes against 8,223 of UML leader Khadka. Meanwhile, Maoist Center candidate and Energy Minister Pampha Bhusal finished a distant third with 5,453 votes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">RSP also secured seats in the parliament from constituencies 7 and 8 of Kathmandu. (With inputs from RSS)</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16105', 'image' => '20221123114422_sobita.jpg', 'article_date' => '2022-11-23 11:43:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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Serbia are bottom.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-25', 'modified' => '2022-11-25', 'keywords' => '', 'description' => '', 'sortorder' => '16120', 'image' => '20221125113223_brazil.jpg', 'article_date' => '2022-11-25 11:31:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16378', 'article_category_id' => '1', 'title' => 'NC, UML, Maoist Centre lead FTPT Vote Count ', 'sub_title' => '', 'summary' => 'November 24: The counting of votes under the elections to the members of the House of Representatives and provincial assemblies is currently underway. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 24: The counting of votes under the elections to the members of the House of Representatives and provincial assemblies is currently underway. According to the Election Commission, the Nepali Congress (NC) has won the highest seats towards the first-past-the-post (FPTP) electoral system by the time this news report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The party has won 30 HoR seats out of 165. NC leader Yogesh Gauchan Thakali was the first candidate to secure victory for the party from Mustang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The party’s central President and Prime Minister Sher Bahadur Deuba, senior leader Ram Chandra Poudel, general secretaries Gagan Kumar Thapa and Bishwa Prakash Sharma, leaders Prakash Man Singh, Dr Shashanka Koirala, Dilendra Prasad Badu and Ramesh Lekhak have secured their places in the HoR. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other winning candidates from the party are Bir Bahadur Balayar, Pradeep Poudel, Santosh Chalise, Rajan KC, Uday Shamser JB Rana, Durlav Thapa Chhetri, Mohan Acharya, Ramhari Khatiwada, Ajay Kumar Chaurasiya, Ramesh Rijal, Shyam Kumar Ghimire, Tek Bahadur Gurung, Kishore Singh Rathore, Dikpal Kumar Shahi, Hridayram Thani, Pushpa Bahadur Shah, Narayan Prasad Saud, Shankar Bhandari, Rajendra Bajgain, Dev Prasad Timilsina and Kham Bahadur Garbuja. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Similarly, CPN (UML) has won the 17 seats. The elected candidates of UML include party Chair KP Sharma Oli, Prithvi Subba Gurung, Yogesh Kumar Bhattarai, Gokarna Raj Bista, Krishna Gopal Shrestha, Top Bahadur Raymajhi, Rajendra Kumar Rai, Lal Prasad ( LP) Sawa Limbu, Dev Raj Ghimire, Ambar Bahadur Rayamajhi, Manbir Rai, Raj Kumar Gupta, Mahesh Kumar Bartaula, Prem Bahadur Maharjan, Bidya Bhattarai, Padam Giri and Basudev Ghimire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CPN (Maoist Centre) has secured victory in nine constituencies and the elected candidates are party Chair Pushpa Kamal Dahal, leaders Barshaman Pun, Shakti Bahadur Basnet, Devendra Poudel, Raj Kumar Rai, Lekhnath Dahal, Rekha Sharma, Purna Bahadur Bishwokarma and Madhav Sapkota. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the CPN (Unified Socialist) has won six seats and the winning candidates are party Chair Madhav Kumar Nepal, leaders Krishna Kumar Shrestha, Prakash Jwala, Sher Bahadur Kunwar, Prem Bahadur Ale and Bhanu Bhakta Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Swatantra Party has secured victory in five constituencies and the elected candidates are party Chair Ravi Lamichhane, Sobita Gautam, Shishir Khanal, Ganesh Parajuli, and Biraj Bhakta Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Prajatantra Party (RPP) has won three seats and the winning candidates are Dhawal Shamsher Rana, Deepak Bahadur Singh and Gyan Bahadur Shahi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Loktantrik Samajbadi Party has clinched victory in two constituencies and the elected members are Sarvendra Nath Shukla and Ram Prakash Chaudhary. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Janamat Party’s Chandra Kant Raut, independent candidate Lalbir Chaudhary and Nagarik Unmukti Party’s Ganga Ram Chaudhary have won a seat each. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16119', 'image' => '20221124082106_20221123050626_20220805085711_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-24 20:20:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16377', 'article_category_id' => '1', 'title' => 'Switzerland Edge Past Cameroon in Opening Match', 'sub_title' => '', 'summary' => 'November 24: Switzerland made a winning start to their World Cup campaign with a 1-0 win over Cameroon in their group-stage match on Thursday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 24: Switzerland made a winning start to their World Cup campaign with a 1-0 win over Cameroon in their group-stage match on Thursday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Reuters, Cameroon-born Breel Embolo scored the winning goal against the run of the play in the opening match of Group G.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">AFP reported that Embolo struck three minutes into the second half as Switzerland secured a vital three points in a group that includes tournament favourites Brazil and Serbia.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The 25-year-old refused to celebrate the goal as the small group of Swiss fans cheered wildly at Al Janoub Stadium, added Reuters.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Cameroon have now lost their last eight World Cup matches going back to 2002.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Meanwhile, AFP reported that Roger Milla was presented with an award before kick-off as the oldest goalscorer in World Cup history, a reminder of past glories for Cameroon who have won just one game since reaching the quarter-finals 32 years ago.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16118', 'image' => '20221124061800_Switzerland-vs-Cameroon-World-Cup-2022-scaled.jpg', 'article_date' => '2022-11-24 18:17:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16376', 'article_category_id' => '1', 'title' => 'Global Regulators to Target Crypto Platforms after FTX Crash', 'sub_title' => '', 'summary' => 'November 24: The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview with Reuters.', 'content' => '<p><span style="font-size:16px">Global regulators to target crypto platforms after FTX crash<br /> AGENCIES<br /> November 24: The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview with Reuters.<br /> According to the news agency, IOSCO chair Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest, such as at credit rating agencies and compilers of market benchmarks, without having to start from scratch.<br /> Cryptoassets like bitcoin have been around for years but regulators have resisted jumping in to write new rules. But the implosion at FTX, which left an estimated one million creditors facing losses totalling billions of dollars, will help change that, Servais told Reuters.<br /> In a report published in early November, Reuters had said that at least one billion dollars of customer funds have vanished from collapsed crypto exchange FTX.<br /> "The sense of urgency was not the same even two or three years ago. There are some dissenting opinions about whether crypto is a real issue at the international level because some people think that it's still not a material issue and risk," Reuters quoted Servais as saying.<br /> "Things are changing and due to the interconnectivity between different types of businesses, I think it's now important that we are able to start a discussion and that's where we are going."<br /> IOSCO, which coordinates rules for G20 countries and others, has already set out principles for regulating stablecoins, but now the focus is turning to platforms which trade in them.<br /> According to Reuters, Madrid-based IOSCO, or International Organization of Securities Commissions, is an umbrella body for market watchdogs like the Securities and Exchange Commission in the United States, Bafin in Germany, Japan's Financial Services Agency, and the UK Financial Conduct Authority, who all commit to applying the body's recommendations.<br /> "I think that the world is changing. We know there is some space for developing new standards about supervision of this kind of crypto conglomerates. There is an obvious necessity," Servais reportedly said.<br /> It may be noted that Nepal Rastra Bank, the central bank of Nepal, has been issuing notices time and again warning the general public not to use crypto currency, arguing that transactions involving crypto currencies are not legally recognized in Nepal and are not guaranteed by the government<br /> NRB says that the general public can be duped while dealing with crypto-currency. There is also the risk of capital flight, the NRB added.</span><br /> </p> <p><span style="font-size:16px">Read Also:<br /> https://www.newbusinessage.com/Articles/view/15797</span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16117', 'image' => '20221124054608_20220816103615_Cryptoshutterstock_1434643079.jpg', 'article_date' => '2022-11-24 17:45:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16374', 'article_category_id' => '1', 'title' => 'Surya Nepal Honoured as the Highest Taxpaying Company', 'sub_title' => 'Vijay Shah of Jawlakhel Group of Industries Bags the Honour in Individual Category', 'summary' => 'November 24: The government on Wednesday honoured the top taxpayers of the country among whom Surya Nepal Private Limited was declared the highest taxpayer company for the last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 24: The government on Wednesday honoured the top taxpayers of the country among whom Surya Nepal Private Limited was declared the highest taxpayer company for the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary Krishna Hari Pushkar honored Surya Nepal amid a programme organized by the Inland Revenue Department in the capital to mark the National Tax Day 2022. The government honored individuals and organizations under 15 different categories.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the IRD, Surya Nepal paid taxes worth Rs 10.72 billion in the Fiscal Year 2021/22, up from Rs 9.34 billion in the previous fiscal year. The annual turnover of the multinational company in 2021 was about Rs 24.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the rating agency Care Rating Nepal, Surya Nepal earned a net profit of Rs 9.41 billion in 2021 and Rs 9.55 billion in 2020. The company, which has a large share in the cigarette trade of Nepal, did business worth Rs 24 billion 493 million during the review year. It also sells matchboxes, incense sticks and confectionaries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Vijaya Shah of Jawalakhel Group of Industries received recognition as the largest taxpayer in individual category in the last fiscal year. Shah leads the group of industries, which incorporates companies like Jawalakhel Distillery, Vijay Distillery, Himalayan Distillery, Raj Brewery and Asian Distillery. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Nepal Telecom bagged the award of the largest income taxpayer.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">OBC Foods received the honours as the highest taxpayer in agriculture category while export-based companies Shiva Shakti Ghee and Rajesh Metal Crafts were recognized for the contribution to the state treasury in their respective category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nabil Bank also received the award in the banking sector while IME Remittance from remittance group and Chhimek Microfinance Company from cooperative group were also among those honoured by the government for the contribution. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16115', 'image' => '20221124032148_20200911125203_1599773733.Clipboard04.jpg', 'article_date' => '2022-11-24 15:21:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16373', 'article_category_id' => '1', 'title' => 'Private Sector Stakeholders Discuss Disaster Resilience', 'sub_title' => '', 'summary' => 'November 24: NET consortium on Tuesday organized the second event of the Bamboo Series under its Climate Initiative on the topic ‘Are businesses prepared for disasters?’.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 24: NET consortium on Tuesday organized the second event of the Bamboo Series under its Climate Initiative on the topic ‘Are businesses prepared for disasters?’. The event provided great insights into the challenges faced by businesses during disasters like COVID-19, the response mechanism adopted by them, and the importance of disaster preparedness, reads a statement issued by the NET consortium, which comprises of three organizations namely National Disaster Risk Reduction Centre (NDRC) Nepal, Enterprise for Management, Economic Reform and Gender Equality (EMERGE), and Tangent Waves. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the programme, Shraddha Joshi, executive director of A.N.T Holidays Pvt Ltd, a travel agency in Nepal, pointed out the need to develop Business Continuity Plan (BCP) for their businesses to manage disasters better.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, Gajendra Malla, of Village Café, stressed that the government must address the social safety nets for women workers who are most affected during disasters. He also added that there is an urgent need to train women in disaster management, added the statement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Brijendra Rochan Joshi, CEO of Rooster Logic, expressed the need to have access to information on the available resources from Government to mitigate the challenges.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Anisha Karn, CEO of SmartPaani added that many SMEs do not benefit from the various support mechanisms that exist to mitigate disasters. She also highlighted how businesses are inadequately resourced to manage disasters themselves.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The key takeaway from the second session of the Bamboo Series was the need to have BCPs to make businesses disaster resilient, the statement further said.</span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16114', 'image' => '20221124023351_Untitled.jpg', 'article_date' => '2022-11-24 14:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16372', 'article_category_id' => '1', 'title' => 'Nepal to Produce 3000MW of Electricity within Current FY: Kulman Ghising', 'sub_title' => '', 'summary' => 'November 24: Nepal's hydropower generation capacity will reach 3,000 megawatts within the current financial year, claimed Nepal Electricity Authority’s Executive Director Kulman Ghising.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 24: Nepal's hydropower generation capacity will reach 3,000 megawatts within the current financial year, claimed Nepal Electricity Authority’s Executive Director Kulman Ghising. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising made such remarks during a program organized to appreciate the best taxpayers on the occasion of the National Tax Day on Wednesday. Ghising argued that many hydropower projects are about to be completed. As a result, the production capacity of the country will increase soon, said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He added Nepal's hydropower production capacity will reach 15,000 megawatts in the next 5 to 6 years, and estimated that the authority will pay about Rs 5 billion in revenue to the government annually after that. He informed that the authority currently pays Rs 1.70 billion to the government in revenue annually.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising said that hydropower projects can contribute greatly to the revenue if they get good promotion. He informed that the NEA earned Rs 11 billion in revenue through the export of electricity in the first four months of the current fiscal year. He added that hydropower is important for the prosperity of the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16113', 'image' => '20221124015619_20190122124004_Kulman-Ghising.jpg', 'article_date' => '2022-11-24 13:55:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16371', 'article_category_id' => '1', 'title' => 'Import of Petroleum Products Declines', 'sub_title' => '', 'summary' => 'November 24: The import of diesel, petrol and cooking gas (LPG) has declined in the first four months of the current fiscal year compared to the corresponding period of last year', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 24: The import of diesel, petrol and cooking gas (LPG) has declined in the first four months of the current fiscal year compared to the corresponding period of last year, according to the data released by the Department of Customs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the past, petroleum products used to top the list of imported goods but fuel imports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although the amount of petroleum product imported into the country has decreased due to the sharp increase in the price of crude oil in the international market and the devaluation of the Nepalese currency, the amount money flowing out of the country has increased. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last year, Rs 34.34 billion was spent on imports of diesel, which decreased to Rs 44.28 billion this year. This year, diesel is the most imported commodity from mid-September to mid-November although the quantity of imports decreased by 26.63 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, the country imported petrol worth Rs 23.69 billion in the review period. Last year, only Rs 18.66 billion was spent on petrol imports. Similarly, LP gas worth Rs 19.64 billion was imported this year against imports worth Rs 17.43 billion last year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-October this year, palmolin exports worth Rs 5.54 billion topped the list of exported items from Nepal. Similarly, soybean oil worth Rs 5.32 billion and refined palm oil worth Rs 3.38 billion were exported in the review period, according to the data released by the department.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16112', 'image' => '20221124123327_petroo - Copy.jpg', 'article_date' => '2022-11-24 12:32:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16370', 'article_category_id' => '1', 'title' => 'Election Results Indicate No Clear Majority in Parliament', 'sub_title' => '', 'summary' => 'November 24: No political party is likely to secure two-thirds majority in the election to the House of Representatives held on November 20. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 24: No political party is likely to secure two-thirds majority in the election to the House of Representatives held on November 20. However, the final results of the election are yet to be announced. The Election Commission has said that the final results will be announced within a few days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is the second time that the country held election to the HoR after the establishment of a republican setup in Nepal. During the last general election held in 2017, the leftist alliance led by CPN-UML had secured two-thirds majority in parliament. However, due to internal disputes, the left alliance could not rule for a full five-year term. The leftist government led by KP Sharma Oli fell after the party broke down due to internal dispute while the court failed to recognize the unified left alliance. Subsequently, a new coalition government led by Nepali Congress President Sher Bahadur Deuba was formed and is still governing the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A political party needs to secure 138 seats in the 275-member House of Representatives which includes 165 seats in the first-past-the-post electoral (FTPT) system and 110 seats in proportional representation (PR) category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the results obtained so far does not indicate any party will secure majority seats in parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the latest results of the EC, the ruling Nepali Congress is ahead in the election. However, the NC is yet to secure majority seats so far. The NC has won 19 seats of HoR as of Wednesday evening and is leading the vote count in 37 constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the CPN-UML has won seven seats and is ahead in 37 constituencies. Similarly, the newly-formed Rastriya Swatantra Party has secured four seats in the lower house and is leading in five constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CPN Maoist Centre, which had formed an electoral alliance with the NC, has so far won three seats in HoR and is ahead in 13 constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CPN Unified Socialist has won two seats and is ahead in seven constituencies. Likewise, Janata Samajbadi Party, Rastriya Prajatantra Party, Nagarik Unnmukti Party and Loktantril Samajbadi Party have each won one seat in the federal parliament. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16111', 'image' => '20221124112330_KN_Damauli-image_6483441.jpg', 'article_date' => '2022-11-24 11:22:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16369', 'article_category_id' => '1', 'title' => 'UML Continues to Lead Vote Count under PR Category with over 400,000 Votes ', 'sub_title' => '', 'summary' => 'November 24: The CPN (UML) is leading the vote count under proportional representation category with a total 452,730 votes so far. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 24: The CPN (UML) is leading the vote count under proportional representation category with a total 452,730 votes so far. The Nepali Congress is second with 416,184 votes, according to the latest update of the Election Commission. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Swatantra Party is third with 234,747 votes followed by the CPN (Maoist Center) with 192,742 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Rastriya Prajatantra Party has secured 123,909 votes, Janata Samajwadi Party Nepal 57,910 votes, Nepal Workers and Peasants Party 42,457 votes and the Janamat Party 28,344 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the CPN (Unified Socialist) has secured 28,376 votes, Nagarik Unmukti Party 25,616 votes, and others have received 98,519 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the EC's preliminary estimate, voter turnout was 61 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Under the PR category, a party is required to get at least three percent of the total number of votes cast to get seats. It means that a single party should get over 320,000 votes to secure seats in parliament under the PR section. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16110', 'image' => '20221124103901_EC.jpg', 'article_date' => '2022-11-24 10:37:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16368', 'article_category_id' => '1', 'title' => 'Analysts Believe Election will Revitalize the Economy', 'sub_title' => '', 'summary' => 'November 23: Analysts believe that the overall economy of the country will gain normalcy due to the election expenses.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 23: Analysts believe that the overall economy of the country will gain normalcy due to the election expenses. They expect that the money spent by the political parties and the government for the elections held on November 20 will flow to the market and the economy will revitalize.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the economists, the expenses incurred by political parties, poll candidates and the government for the elections will help the economy of the country as a whole. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economist Keshav Acharya remarked that Rs 10 billion spent by the candidates will flow to the market, which will help in revitalizing the economy. He said that the candidates have spent extensively on vehicles, hotels and social media during the elections. Economist Acharya added that millions of rupees will return to the banking system and liquidity crisis will also ease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banking expert Analraj Bhattarai said that the expenses incurred in the election will help the country's economy to return to normalcy to some extent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, he added that it is not capable of making big contribution to economic growth. He said that the expenses incurred by the government and the expenses incurred by the candidates of the political parties in the elections have is almost Rs 50 billion. He said that the expenses of the election will bring some relief to the liquidity crisis in the banks. Bhattarai said that now the banks will distribute cash dividends after the election expenses eases liquidity problem. He however estimates the liquidity problem will persist for a long time due to the demand of Rs 300 billion in the market, continuous recession in business and the reduction in revenue collection due to the government's ban on imports.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai stated, “In 2017 elections, the growth rate of the economy increased due to the increase in expenses. At that time, the economic growth rate reached 8 percent. However, currently the global economy is unstable due to the Covid-19 pandemic and Ukraine-Russia War. Nepal as well is not an exception to their impacts.” He said that the economic growth rate of Nepal could be 5 percent in the current fiscal year. He remarked that the newly formed government will face challenges and will need to do a lot of work to improve the economy.</span></span></span></span></p> <p> </p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16109', 'image' => '20221123080457_DB_Simkot-IMG20221123124943.jpg', 'article_date' => '2022-11-23 20:04:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16367', 'article_category_id' => '1', 'title' => 'Election Management has Improved in Nepal: Chairman Thowfeek ', 'sub_title' => '', 'summary' => 'November 23: Chairman of the Election Commission of the Maldives, Fuwad Thowfeek, has said that the election management and process have improved in Nepal compared to the past. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 23: Chairman of the Election Commission of the Maldives, Fuwad Thowfeek, has said that the election management and process have improved in Nepal compared to the past. The Maldives' Election Commission chief was in Nepal to observe the election to the members of the House of Representatives and provincial assemblies held on November 20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thowfeek made such remark on Wednesday before returning home. Stating that he had also visited Nepal in 2070 BS to observe the general election, he lauded the efforts of the employees and security persons deputed on election duty and the participation of voters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maldives' Election Commission Chief Thowfeek had observed the election at eight voting stations in Kathmandu, Lalitpur and Kavrepalanchok. He further said that he would share about the good practices of the election management and the process found in Nepal back in the Maldives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The voters in the developing countries seem not yet ready to adopt the electronic voting system,” he said and suggested that rather than collecting the ballot boxes at every Election Officer's office for counting the votes, it would be better if the vote counting was done at every polling station itself. He urged the Election Commission, Nepal to think on this line as well. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16108', 'image' => '20221123050626_20220805085711_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-23 17:05:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16366', 'article_category_id' => '1', 'title' => 'Global Slowdown to Hit Europe the Hardest: OECD', 'sub_title' => '', 'summary' => 'November 23: The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the Organisation for Economic Cooperation and Development (OECD) said.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 23: The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the Organisation for Economic Cooperation and Development (OECD) said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to a news report published by Reuters on Tuesday, the OECD added that fighting inflation should be policymakers' top priority.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">National outlooks vary widely, although Britain's economy is set to lag major peers, the OECD said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It forecast that world economic growth would slow from 3.1 percent this year - slightly more than the OECD foresaw in its September projections - to 2.2 percent next year, before accelerating to 2.7 percent in 2024.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“We are not predicting a recession, but we are certainly projecting a period of pronounced weakness,” Reuters quoted OECD head Mathias Cormann as saying during a news conference while presenting the organisation's latest Economic Outlook.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, the OECD said that the global slowdown was hitting economies unevenly, with Europe bearing the brunt as Russia's war in Ukraine hits business activity and drives an energy price spike.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It forecast that the 19-country euro zone economy would grow 3.3 percent this year then slow to 0.5 percent in 2023 before recovering to expand by 1.4 percent in 2024. That was slightly better than in the OECD's September outlook, when it estimated 3.1 percent growth this year and 0.3 percent in 2023.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Outside the euro zone, the British economy was seen shrinking 0.4 percent next year as it contends with rising interest rates, surging inflation and weak confidence. Previously the OECD had expected 0.2 percent growth.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The US economy was set to hold up better, with growth expected to slow from 1.8 percent this year to 0.5 percent in 2023 before rising to 1.0 percent in 2024. The OECD had previously expected growth of only 1.5 percent this year in the world's biggest economy and its estimate for 2023 was unchanged.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, China, which is not an OECD member, was one of the few major economies expected to see growth pick up next year, after a wave of COVID lockdowns. Growth there was seen rising from 3.3 percent this year to 4.6 percent in 2023 and 4.1 percent in 2024, compared with previous forecasts of 3.2 percent in 2022 and 4.7 percent for 2023.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The forecast, however, does not take into account the latest curbs imposed by China to deal with the flare-ups in Covid cases.</span></span></p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16107', 'image' => '20221123022417_EU_economic_governance.jpg', 'article_date' => '2022-11-23 14:23:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16365', 'article_category_id' => '1', 'title' => 'Bank Deposits Up while Credit Flow Slumps', 'sub_title' => '', 'summary' => 'November 23: Commercial banks of Nepal have reported positive outcome in deposit collection to back the central bank’s claim that the economic indicators are improving in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">November 23: Commercial banks of Nepal have reported positive outcome in deposit collection to back the central bank’s claim that the economic indicators are improving in the country.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The deposit collection of banks increased in a one month period between mid-October to mid-November due to increase in remittance inflow as well as economic activities during the election.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The deposit collection of 26 commercial banks in Nepal stood at Rs 16.19 billion in the review month, according to the figures released by Nepal Bankers Association.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">As per the data of the association, the total deposits of commercial banks which stood at Rs 4.547 trillion in mid-October has increased to Rs 4.563 trillion by mid-November.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The association informed that the deposits withdrawn by the banks’ customers during the festive season has started returning to the banking system from the first week of November.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">“The bank deposits were withdrawn in mid-October during the festive season. But they have started returning to the banking system,” said Kiran Kumar Shrestha, CEO of Rastriya Banijya Bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">He argued that the bank deposits will further rise because the money from the informal sector will pour into the market due to the election.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Nepal Rastra Bank had recently published a report indicating improvement in economic indicators. According to the NRB, the Balance of Payments remained at a surplus in mid-October for the first time in 14 months. Likewise, remittance inflow also increased by 16 percent to Rs 281.5 billion in the first quarter of the current fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Although the deposit collection of banks increased in the review period, credit flow has declined.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The total credit flow of banks in the review month stood at Rs 1.26 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The loan portfolio of commercial banks has now reached Rs 4.222 trillion. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The CD ratio of banks in the review month was 87.19 percent. Although the CD ratio is within the limit set by the central bank, the commercial banks are not able to increase credit flow due to high interest rates.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16106', 'image' => '20221123125400_Banks - Copy.jpg', 'article_date' => '2022-11-23 12:53:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16363', 'article_category_id' => '1', 'title' => 'Newly-Formed RSP Wins Four Seats in House of Representatives', 'sub_title' => 'RSP’s Sobita Gautam wins HoR seat in Kathmandu-2, Toshima Karki Triumphs in Lalitpur-3 ', 'summary' => 'November 23: Rastriya Swatantra Party’s candidate for House of Representatives (HoR) from Kathmandu Constituency-2, Sobita Gautam, has emerged victorious in the election with an overwhelming 15,229 votes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 23: Rastriya Swatantra Party’s candidate for House of Representatives (HoR) from Kathmandu Constituency-2, Sobita Gautam, has emerged victorious in the election with an overwhelming 15,229 votes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Returning Officer Bimala Regmi, the vote counting in the constituency was completed on Wednesday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gautam’s nearest rival Mani Ram Phuyal of CPN (UML) garnered 11,555 votes while Rastriya Prajatantra Party’s Kunti Devi Pokharel finished third with 11,014 votes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, CPN (Maoist Centre)’s Onsari Gharti obtained 9,449 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 52,956 votes cast in the constituency, 2,116 votes were invalid. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With Gautam’s victory, the newly-formed RSP has now secured four seats in the House of Representatives.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dr Toshima Karki of the same party secured a seat in the lower house of parliament from Lalitpur Constituency-3 with a wide-margin victory over her nearest rival Amrit Khadka of CPN UML.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The voting results published by the Election Commission on Wednesday morning shows that Dr Karki secured 14,208 votes against 8,223 of UML leader Khadka. Meanwhile, Maoist Center candidate and Energy Minister Pampha Bhusal finished a distant third with 5,453 votes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">RSP also secured seats in the parliament from constituencies 7 and 8 of Kathmandu. (With inputs from RSS)</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16105', 'image' => '20221123114422_sobita.jpg', 'article_date' => '2022-11-23 11:43:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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Serbia are bottom.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-25', 'modified' => '2022-11-25', 'keywords' => '', 'description' => '', 'sortorder' => '16120', 'image' => '20221125113223_brazil.jpg', 'article_date' => '2022-11-25 11:31:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16378', 'article_category_id' => '1', 'title' => 'NC, UML, Maoist Centre lead FTPT Vote Count ', 'sub_title' => '', 'summary' => 'November 24: The counting of votes under the elections to the members of the House of Representatives and provincial assemblies is currently underway. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 24: The counting of votes under the elections to the members of the House of Representatives and provincial assemblies is currently underway. According to the Election Commission, the Nepali Congress (NC) has won the highest seats towards the first-past-the-post (FPTP) electoral system by the time this news report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The party has won 30 HoR seats out of 165. NC leader Yogesh Gauchan Thakali was the first candidate to secure victory for the party from Mustang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The party’s central President and Prime Minister Sher Bahadur Deuba, senior leader Ram Chandra Poudel, general secretaries Gagan Kumar Thapa and Bishwa Prakash Sharma, leaders Prakash Man Singh, Dr Shashanka Koirala, Dilendra Prasad Badu and Ramesh Lekhak have secured their places in the HoR. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other winning candidates from the party are Bir Bahadur Balayar, Pradeep Poudel, Santosh Chalise, Rajan KC, Uday Shamser JB Rana, Durlav Thapa Chhetri, Mohan Acharya, Ramhari Khatiwada, Ajay Kumar Chaurasiya, Ramesh Rijal, Shyam Kumar Ghimire, Tek Bahadur Gurung, Kishore Singh Rathore, Dikpal Kumar Shahi, Hridayram Thani, Pushpa Bahadur Shah, Narayan Prasad Saud, Shankar Bhandari, Rajendra Bajgain, Dev Prasad Timilsina and Kham Bahadur Garbuja. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Similarly, CPN (UML) has won the 17 seats. The elected candidates of UML include party Chair KP Sharma Oli, Prithvi Subba Gurung, Yogesh Kumar Bhattarai, Gokarna Raj Bista, Krishna Gopal Shrestha, Top Bahadur Raymajhi, Rajendra Kumar Rai, Lal Prasad ( LP) Sawa Limbu, Dev Raj Ghimire, Ambar Bahadur Rayamajhi, Manbir Rai, Raj Kumar Gupta, Mahesh Kumar Bartaula, Prem Bahadur Maharjan, Bidya Bhattarai, Padam Giri and Basudev Ghimire. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CPN (Maoist Centre) has secured victory in nine constituencies and the elected candidates are party Chair Pushpa Kamal Dahal, leaders Barshaman Pun, Shakti Bahadur Basnet, Devendra Poudel, Raj Kumar Rai, Lekhnath Dahal, Rekha Sharma, Purna Bahadur Bishwokarma and Madhav Sapkota. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the CPN (Unified Socialist) has won six seats and the winning candidates are party Chair Madhav Kumar Nepal, leaders Krishna Kumar Shrestha, Prakash Jwala, Sher Bahadur Kunwar, Prem Bahadur Ale and Bhanu Bhakta Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Swatantra Party has secured victory in five constituencies and the elected candidates are party Chair Ravi Lamichhane, Sobita Gautam, Shishir Khanal, Ganesh Parajuli, and Biraj Bhakta Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Prajatantra Party (RPP) has won three seats and the winning candidates are Dhawal Shamsher Rana, Deepak Bahadur Singh and Gyan Bahadur Shahi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Loktantrik Samajbadi Party has clinched victory in two constituencies and the elected members are Sarvendra Nath Shukla and Ram Prakash Chaudhary. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Janamat Party’s Chandra Kant Raut, independent candidate Lalbir Chaudhary and Nagarik Unmukti Party’s Ganga Ram Chaudhary have won a seat each. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16119', 'image' => '20221124082106_20221123050626_20220805085711_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-24 20:20:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16377', 'article_category_id' => '1', 'title' => 'Switzerland Edge Past Cameroon in Opening Match', 'sub_title' => '', 'summary' => 'November 24: Switzerland made a winning start to their World Cup campaign with a 1-0 win over Cameroon in their group-stage match on Thursday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">AGENCIES</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 24: Switzerland made a winning start to their World Cup campaign with a 1-0 win over Cameroon in their group-stage match on Thursday.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Reuters, Cameroon-born Breel Embolo scored the winning goal against the run of the play in the opening match of Group G.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">AFP reported that Embolo struck three minutes into the second half as Switzerland secured a vital three points in a group that includes tournament favourites Brazil and Serbia.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The 25-year-old refused to celebrate the goal as the small group of Swiss fans cheered wildly at Al Janoub Stadium, added Reuters.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Cameroon have now lost their last eight World Cup matches going back to 2002.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Meanwhile, AFP reported that Roger Milla was presented with an award before kick-off as the oldest goalscorer in World Cup history, a reminder of past glories for Cameroon who have won just one game since reaching the quarter-finals 32 years ago.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16118', 'image' => '20221124061800_Switzerland-vs-Cameroon-World-Cup-2022-scaled.jpg', 'article_date' => '2022-11-24 18:17:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16376', 'article_category_id' => '1', 'title' => 'Global Regulators to Target Crypto Platforms after FTX Crash', 'sub_title' => '', 'summary' => 'November 24: The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview with Reuters.', 'content' => '<p><span style="font-size:16px">Global regulators to target crypto platforms after FTX crash<br /> AGENCIES<br /> November 24: The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview with Reuters.<br /> According to the news agency, IOSCO chair Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest, such as at credit rating agencies and compilers of market benchmarks, without having to start from scratch.<br /> Cryptoassets like bitcoin have been around for years but regulators have resisted jumping in to write new rules. But the implosion at FTX, which left an estimated one million creditors facing losses totalling billions of dollars, will help change that, Servais told Reuters.<br /> In a report published in early November, Reuters had said that at least one billion dollars of customer funds have vanished from collapsed crypto exchange FTX.<br /> "The sense of urgency was not the same even two or three years ago. There are some dissenting opinions about whether crypto is a real issue at the international level because some people think that it's still not a material issue and risk," Reuters quoted Servais as saying.<br /> "Things are changing and due to the interconnectivity between different types of businesses, I think it's now important that we are able to start a discussion and that's where we are going."<br /> IOSCO, which coordinates rules for G20 countries and others, has already set out principles for regulating stablecoins, but now the focus is turning to platforms which trade in them.<br /> According to Reuters, Madrid-based IOSCO, or International Organization of Securities Commissions, is an umbrella body for market watchdogs like the Securities and Exchange Commission in the United States, Bafin in Germany, Japan's Financial Services Agency, and the UK Financial Conduct Authority, who all commit to applying the body's recommendations.<br /> "I think that the world is changing. We know there is some space for developing new standards about supervision of this kind of crypto conglomerates. There is an obvious necessity," Servais reportedly said.<br /> It may be noted that Nepal Rastra Bank, the central bank of Nepal, has been issuing notices time and again warning the general public not to use crypto currency, arguing that transactions involving crypto currencies are not legally recognized in Nepal and are not guaranteed by the government<br /> NRB says that the general public can be duped while dealing with crypto-currency. There is also the risk of capital flight, the NRB added.</span><br /> </p> <p><span style="font-size:16px">Read Also:<br /> https://www.newbusinessage.com/Articles/view/15797</span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16117', 'image' => '20221124054608_20220816103615_Cryptoshutterstock_1434643079.jpg', 'article_date' => '2022-11-24 17:45:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16374', 'article_category_id' => '1', 'title' => 'Surya Nepal Honoured as the Highest Taxpaying Company', 'sub_title' => 'Vijay Shah of Jawlakhel Group of Industries Bags the Honour in Individual Category', 'summary' => 'November 24: The government on Wednesday honoured the top taxpayers of the country among whom Surya Nepal Private Limited was declared the highest taxpayer company for the last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 24: The government on Wednesday honoured the top taxpayers of the country among whom Surya Nepal Private Limited was declared the highest taxpayer company for the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary Krishna Hari Pushkar honored Surya Nepal amid a programme organized by the Inland Revenue Department in the capital to mark the National Tax Day 2022. The government honored individuals and organizations under 15 different categories.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the IRD, Surya Nepal paid taxes worth Rs 10.72 billion in the Fiscal Year 2021/22, up from Rs 9.34 billion in the previous fiscal year. The annual turnover of the multinational company in 2021 was about Rs 24.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the rating agency Care Rating Nepal, Surya Nepal earned a net profit of Rs 9.41 billion in 2021 and Rs 9.55 billion in 2020. The company, which has a large share in the cigarette trade of Nepal, did business worth Rs 24 billion 493 million during the review year. It also sells matchboxes, incense sticks and confectionaries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Vijaya Shah of Jawalakhel Group of Industries received recognition as the largest taxpayer in individual category in the last fiscal year. Shah leads the group of industries, which incorporates companies like Jawalakhel Distillery, Vijay Distillery, Himalayan Distillery, Raj Brewery and Asian Distillery. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Nepal Telecom bagged the award of the largest income taxpayer.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">OBC Foods received the honours as the highest taxpayer in agriculture category while export-based companies Shiva Shakti Ghee and Rajesh Metal Crafts were recognized for the contribution to the state treasury in their respective category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nabil Bank also received the award in the banking sector while IME Remittance from remittance group and Chhimek Microfinance Company from cooperative group were also among those honoured by the government for the contribution. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16115', 'image' => '20221124032148_20200911125203_1599773733.Clipboard04.jpg', 'article_date' => '2022-11-24 15:21:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16373', 'article_category_id' => '1', 'title' => 'Private Sector Stakeholders Discuss Disaster Resilience', 'sub_title' => '', 'summary' => 'November 24: NET consortium on Tuesday organized the second event of the Bamboo Series under its Climate Initiative on the topic ‘Are businesses prepared for disasters?’.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 24: NET consortium on Tuesday organized the second event of the Bamboo Series under its Climate Initiative on the topic ‘Are businesses prepared for disasters?’. The event provided great insights into the challenges faced by businesses during disasters like COVID-19, the response mechanism adopted by them, and the importance of disaster preparedness, reads a statement issued by the NET consortium, which comprises of three organizations namely National Disaster Risk Reduction Centre (NDRC) Nepal, Enterprise for Management, Economic Reform and Gender Equality (EMERGE), and Tangent Waves. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the programme, Shraddha Joshi, executive director of A.N.T Holidays Pvt Ltd, a travel agency in Nepal, pointed out the need to develop Business Continuity Plan (BCP) for their businesses to manage disasters better.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, Gajendra Malla, of Village Café, stressed that the government must address the social safety nets for women workers who are most affected during disasters. He also added that there is an urgent need to train women in disaster management, added the statement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Brijendra Rochan Joshi, CEO of Rooster Logic, expressed the need to have access to information on the available resources from Government to mitigate the challenges.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Similarly, Anisha Karn, CEO of SmartPaani added that many SMEs do not benefit from the various support mechanisms that exist to mitigate disasters. She also highlighted how businesses are inadequately resourced to manage disasters themselves.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The key takeaway from the second session of the Bamboo Series was the need to have BCPs to make businesses disaster resilient, the statement further said.</span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16114', 'image' => '20221124023351_Untitled.jpg', 'article_date' => '2022-11-24 14:32:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16372', 'article_category_id' => '1', 'title' => 'Nepal to Produce 3000MW of Electricity within Current FY: Kulman Ghising', 'sub_title' => '', 'summary' => 'November 24: Nepal's hydropower generation capacity will reach 3,000 megawatts within the current financial year, claimed Nepal Electricity Authority’s Executive Director Kulman Ghising.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 24: Nepal's hydropower generation capacity will reach 3,000 megawatts within the current financial year, claimed Nepal Electricity Authority’s Executive Director Kulman Ghising. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising made such remarks during a program organized to appreciate the best taxpayers on the occasion of the National Tax Day on Wednesday. Ghising argued that many hydropower projects are about to be completed. As a result, the production capacity of the country will increase soon, said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He added Nepal's hydropower production capacity will reach 15,000 megawatts in the next 5 to 6 years, and estimated that the authority will pay about Rs 5 billion in revenue to the government annually after that. He informed that the authority currently pays Rs 1.70 billion to the government in revenue annually.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising said that hydropower projects can contribute greatly to the revenue if they get good promotion. He informed that the NEA earned Rs 11 billion in revenue through the export of electricity in the first four months of the current fiscal year. He added that hydropower is important for the prosperity of the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16113', 'image' => '20221124015619_20190122124004_Kulman-Ghising.jpg', 'article_date' => '2022-11-24 13:55:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16371', 'article_category_id' => '1', 'title' => 'Import of Petroleum Products Declines', 'sub_title' => '', 'summary' => 'November 24: The import of diesel, petrol and cooking gas (LPG) has declined in the first four months of the current fiscal year compared to the corresponding period of last year', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 24: The import of diesel, petrol and cooking gas (LPG) has declined in the first four months of the current fiscal year compared to the corresponding period of last year, according to the data released by the Department of Customs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the past, petroleum products used to top the list of imported goods but fuel imports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although the amount of petroleum product imported into the country has decreased due to the sharp increase in the price of crude oil in the international market and the devaluation of the Nepalese currency, the amount money flowing out of the country has increased. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last year, Rs 34.34 billion was spent on imports of diesel, which decreased to Rs 44.28 billion this year. This year, diesel is the most imported commodity from mid-September to mid-November although the quantity of imports decreased by 26.63 percent.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, the country imported petrol worth Rs 23.69 billion in the review period. Last year, only Rs 18.66 billion was spent on petrol imports. Similarly, LP gas worth Rs 19.64 billion was imported this year against imports worth Rs 17.43 billion last year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-October this year, palmolin exports worth Rs 5.54 billion topped the list of exported items from Nepal. Similarly, soybean oil worth Rs 5.32 billion and refined palm oil worth Rs 3.38 billion were exported in the review period, according to the data released by the department.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16112', 'image' => '20221124123327_petroo - Copy.jpg', 'article_date' => '2022-11-24 12:32:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16370', 'article_category_id' => '1', 'title' => 'Election Results Indicate No Clear Majority in Parliament', 'sub_title' => '', 'summary' => 'November 24: No political party is likely to secure two-thirds majority in the election to the House of Representatives held on November 20. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 24: No political party is likely to secure two-thirds majority in the election to the House of Representatives held on November 20. However, the final results of the election are yet to be announced. The Election Commission has said that the final results will be announced within a few days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is the second time that the country held election to the HoR after the establishment of a republican setup in Nepal. During the last general election held in 2017, the leftist alliance led by CPN-UML had secured two-thirds majority in parliament. However, due to internal disputes, the left alliance could not rule for a full five-year term. The leftist government led by KP Sharma Oli fell after the party broke down due to internal dispute while the court failed to recognize the unified left alliance. Subsequently, a new coalition government led by Nepali Congress President Sher Bahadur Deuba was formed and is still governing the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A political party needs to secure 138 seats in the 275-member House of Representatives which includes 165 seats in the first-past-the-post electoral (FTPT) system and 110 seats in proportional representation (PR) category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the results obtained so far does not indicate any party will secure majority seats in parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the latest results of the EC, the ruling Nepali Congress is ahead in the election. However, the NC is yet to secure majority seats so far. The NC has won 19 seats of HoR as of Wednesday evening and is leading the vote count in 37 constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the CPN-UML has won seven seats and is ahead in 37 constituencies. Similarly, the newly-formed Rastriya Swatantra Party has secured four seats in the lower house and is leading in five constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CPN Maoist Centre, which had formed an electoral alliance with the NC, has so far won three seats in HoR and is ahead in 13 constituencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CPN Unified Socialist has won two seats and is ahead in seven constituencies. Likewise, Janata Samajbadi Party, Rastriya Prajatantra Party, Nagarik Unnmukti Party and Loktantril Samajbadi Party have each won one seat in the federal parliament. </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16111', 'image' => '20221124112330_KN_Damauli-image_6483441.jpg', 'article_date' => '2022-11-24 11:22:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16369', 'article_category_id' => '1', 'title' => 'UML Continues to Lead Vote Count under PR Category with over 400,000 Votes ', 'sub_title' => '', 'summary' => 'November 24: The CPN (UML) is leading the vote count under proportional representation category with a total 452,730 votes so far. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 24: The CPN (UML) is leading the vote count under proportional representation category with a total 452,730 votes so far. The Nepali Congress is second with 416,184 votes, according to the latest update of the Election Commission. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Rastriya Swatantra Party is third with 234,747 votes followed by the CPN (Maoist Center) with 192,742 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Rastriya Prajatantra Party has secured 123,909 votes, Janata Samajwadi Party Nepal 57,910 votes, Nepal Workers and Peasants Party 42,457 votes and the Janamat Party 28,344 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the CPN (Unified Socialist) has secured 28,376 votes, Nagarik Unmukti Party 25,616 votes, and others have received 98,519 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the EC's preliminary estimate, voter turnout was 61 percent. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Under the PR category, a party is required to get at least three percent of the total number of votes cast to get seats. It means that a single party should get over 320,000 votes to secure seats in parliament under the PR section. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-24', 'modified' => '2022-11-24', 'keywords' => '', 'description' => '', 'sortorder' => '16110', 'image' => '20221124103901_EC.jpg', 'article_date' => '2022-11-24 10:37:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16368', 'article_category_id' => '1', 'title' => 'Analysts Believe Election will Revitalize the Economy', 'sub_title' => '', 'summary' => 'November 23: Analysts believe that the overall economy of the country will gain normalcy due to the election expenses.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 23: Analysts believe that the overall economy of the country will gain normalcy due to the election expenses. They expect that the money spent by the political parties and the government for the elections held on November 20 will flow to the market and the economy will revitalize.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the economists, the expenses incurred by political parties, poll candidates and the government for the elections will help the economy of the country as a whole. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economist Keshav Acharya remarked that Rs 10 billion spent by the candidates will flow to the market, which will help in revitalizing the economy. He said that the candidates have spent extensively on vehicles, hotels and social media during the elections. Economist Acharya added that millions of rupees will return to the banking system and liquidity crisis will also ease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banking expert Analraj Bhattarai said that the expenses incurred in the election will help the country's economy to return to normalcy to some extent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, he added that it is not capable of making big contribution to economic growth. He said that the expenses incurred by the government and the expenses incurred by the candidates of the political parties in the elections have is almost Rs 50 billion. He said that the expenses of the election will bring some relief to the liquidity crisis in the banks. Bhattarai said that now the banks will distribute cash dividends after the election expenses eases liquidity problem. He however estimates the liquidity problem will persist for a long time due to the demand of Rs 300 billion in the market, continuous recession in business and the reduction in revenue collection due to the government's ban on imports.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai stated, “In 2017 elections, the growth rate of the economy increased due to the increase in expenses. At that time, the economic growth rate reached 8 percent. However, currently the global economy is unstable due to the Covid-19 pandemic and Ukraine-Russia War. Nepal as well is not an exception to their impacts.” He said that the economic growth rate of Nepal could be 5 percent in the current fiscal year. He remarked that the newly formed government will face challenges and will need to do a lot of work to improve the economy.</span></span></span></span></p> <p> </p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16109', 'image' => '20221123080457_DB_Simkot-IMG20221123124943.jpg', 'article_date' => '2022-11-23 20:04:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16367', 'article_category_id' => '1', 'title' => 'Election Management has Improved in Nepal: Chairman Thowfeek ', 'sub_title' => '', 'summary' => 'November 23: Chairman of the Election Commission of the Maldives, Fuwad Thowfeek, has said that the election management and process have improved in Nepal compared to the past. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 23: Chairman of the Election Commission of the Maldives, Fuwad Thowfeek, has said that the election management and process have improved in Nepal compared to the past. The Maldives' Election Commission chief was in Nepal to observe the election to the members of the House of Representatives and provincial assemblies held on November 20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thowfeek made such remark on Wednesday before returning home. Stating that he had also visited Nepal in 2070 BS to observe the general election, he lauded the efforts of the employees and security persons deputed on election duty and the participation of voters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Maldives' Election Commission Chief Thowfeek had observed the election at eight voting stations in Kathmandu, Lalitpur and Kavrepalanchok. He further said that he would share about the good practices of the election management and the process found in Nepal back in the Maldives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The voters in the developing countries seem not yet ready to adopt the electronic voting system,” he said and suggested that rather than collecting the ballot boxes at every Election Officer's office for counting the votes, it would be better if the vote counting was done at every polling station itself. He urged the Election Commission, Nepal to think on this line as well. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16108', 'image' => '20221123050626_20220805085711_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-23 17:05:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16366', 'article_category_id' => '1', 'title' => 'Global Slowdown to Hit Europe the Hardest: OECD', 'sub_title' => '', 'summary' => 'November 23: The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the Organisation for Economic Cooperation and Development (OECD) said.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 23: The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the Organisation for Economic Cooperation and Development (OECD) said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to a news report published by Reuters on Tuesday, the OECD added that fighting inflation should be policymakers' top priority.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">National outlooks vary widely, although Britain's economy is set to lag major peers, the OECD said.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It forecast that world economic growth would slow from 3.1 percent this year - slightly more than the OECD foresaw in its September projections - to 2.2 percent next year, before accelerating to 2.7 percent in 2024.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“We are not predicting a recession, but we are certainly projecting a period of pronounced weakness,” Reuters quoted OECD head Mathias Cormann as saying during a news conference while presenting the organisation's latest Economic Outlook.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, the OECD said that the global slowdown was hitting economies unevenly, with Europe bearing the brunt as Russia's war in Ukraine hits business activity and drives an energy price spike.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It forecast that the 19-country euro zone economy would grow 3.3 percent this year then slow to 0.5 percent in 2023 before recovering to expand by 1.4 percent in 2024. That was slightly better than in the OECD's September outlook, when it estimated 3.1 percent growth this year and 0.3 percent in 2023.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Outside the euro zone, the British economy was seen shrinking 0.4 percent next year as it contends with rising interest rates, surging inflation and weak confidence. Previously the OECD had expected 0.2 percent growth.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The US economy was set to hold up better, with growth expected to slow from 1.8 percent this year to 0.5 percent in 2023 before rising to 1.0 percent in 2024. The OECD had previously expected growth of only 1.5 percent this year in the world's biggest economy and its estimate for 2023 was unchanged.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Reuters, China, which is not an OECD member, was one of the few major economies expected to see growth pick up next year, after a wave of COVID lockdowns. Growth there was seen rising from 3.3 percent this year to 4.6 percent in 2023 and 4.1 percent in 2024, compared with previous forecasts of 3.2 percent in 2022 and 4.7 percent for 2023.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The forecast, however, does not take into account the latest curbs imposed by China to deal with the flare-ups in Covid cases.</span></span></p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16107', 'image' => '20221123022417_EU_economic_governance.jpg', 'article_date' => '2022-11-23 14:23:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16365', 'article_category_id' => '1', 'title' => 'Bank Deposits Up while Credit Flow Slumps', 'sub_title' => '', 'summary' => 'November 23: Commercial banks of Nepal have reported positive outcome in deposit collection to back the central bank’s claim that the economic indicators are improving in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">November 23: Commercial banks of Nepal have reported positive outcome in deposit collection to back the central bank’s claim that the economic indicators are improving in the country.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The deposit collection of banks increased in a one month period between mid-October to mid-November due to increase in remittance inflow as well as economic activities during the election.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The deposit collection of 26 commercial banks in Nepal stood at Rs 16.19 billion in the review month, according to the figures released by Nepal Bankers Association.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">As per the data of the association, the total deposits of commercial banks which stood at Rs 4.547 trillion in mid-October has increased to Rs 4.563 trillion by mid-November.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The association informed that the deposits withdrawn by the banks’ customers during the festive season has started returning to the banking system from the first week of November.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">“The bank deposits were withdrawn in mid-October during the festive season. But they have started returning to the banking system,” said Kiran Kumar Shrestha, CEO of Rastriya Banijya Bank.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">He argued that the bank deposits will further rise because the money from the informal sector will pour into the market due to the election.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Nepal Rastra Bank had recently published a report indicating improvement in economic indicators. According to the NRB, the Balance of Payments remained at a surplus in mid-October for the first time in 14 months. Likewise, remittance inflow also increased by 16 percent to Rs 281.5 billion in the first quarter of the current fiscal year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Although the deposit collection of banks increased in the review period, credit flow has declined.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The total credit flow of banks in the review month stood at Rs 1.26 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The loan portfolio of commercial banks has now reached Rs 4.222 trillion. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The CD ratio of banks in the review month was 87.19 percent. Although the CD ratio is within the limit set by the central bank, the commercial banks are not able to increase credit flow due to high interest rates.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16106', 'image' => '20221123125400_Banks - Copy.jpg', 'article_date' => '2022-11-23 12:53:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16363', 'article_category_id' => '1', 'title' => 'Newly-Formed RSP Wins Four Seats in House of Representatives', 'sub_title' => 'RSP’s Sobita Gautam wins HoR seat in Kathmandu-2, Toshima Karki Triumphs in Lalitpur-3 ', 'summary' => 'November 23: Rastriya Swatantra Party’s candidate for House of Representatives (HoR) from Kathmandu Constituency-2, Sobita Gautam, has emerged victorious in the election with an overwhelming 15,229 votes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 23: Rastriya Swatantra Party’s candidate for House of Representatives (HoR) from Kathmandu Constituency-2, Sobita Gautam, has emerged victorious in the election with an overwhelming 15,229 votes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Returning Officer Bimala Regmi, the vote counting in the constituency was completed on Wednesday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gautam’s nearest rival Mani Ram Phuyal of CPN (UML) garnered 11,555 votes while Rastriya Prajatantra Party’s Kunti Devi Pokharel finished third with 11,014 votes. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, CPN (Maoist Centre)’s Onsari Gharti obtained 9,449 votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 52,956 votes cast in the constituency, 2,116 votes were invalid. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With Gautam’s victory, the newly-formed RSP has now secured four seats in the House of Representatives.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dr Toshima Karki of the same party secured a seat in the lower house of parliament from Lalitpur Constituency-3 with a wide-margin victory over her nearest rival Amrit Khadka of CPN UML.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The voting results published by the Election Commission on Wednesday morning shows that Dr Karki secured 14,208 votes against 8,223 of UML leader Khadka. Meanwhile, Maoist Center candidate and Energy Minister Pampha Bhusal finished a distant third with 5,453 votes.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">RSP also secured seats in the parliament from constituencies 7 and 8 of Kathmandu. (With inputs from RSS)</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-11-23', 'modified' => '2022-11-23', 'keywords' => '', 'description' => '', 'sortorder' => '16105', 'image' => '20221123114422_sobita.jpg', 'article_date' => '2022-11-23 11:43:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
